Reserve Account
The Fairbairn Private Bank Reserve
Account is a flexible interest bearing current account with a wide
range of practical features, plus the option of multi-currency
dealings.
The minimum initial deposit is £5,000, US $7,500
or €7,500.
Easy Access
The Fairbairn Private Bank Reserve Account
is essentially an interest bearing current account. For any of the
world's three leading currencies you receive a chequebook for easy
access to your money at any time. For personal account holders who
hold an acount in sterling, there is a £250 cheque guarantee
facility for use within the British Isles, incorporated within the
Gold Visa card.
Sterling accounts can have standing orders and
direct debits set up. So, even if you are abroad, you can rest
assured all your regular bills will be paid promptly.
A choice of currencies
The Fairbairn Private Bank Reserve Account
can be denominated in any major currency but if you hold deposits
in sterling, US dollars or euro, you can take advantage of our
matching currency chequebook and Gold Visa card facilities.
Commission-free foreign exchange dealing allows you to buy and sell
in all major currencies, with no minimum or maximum size of
deal.
Competitive Interest Rates
The Fairbairn Private Bank Reserve Account
pays gross* competitive interest, calculated daily and credited to
the account on a quarterly basis. A detailed statement is then sent
which enables you to stay in control of your account.
Rates with effect from Tuesday, December 28,
2004
|
Currency
|
Minimum Balance
|
*Gross Interest Rate p.a.
|
Annual *Gross **AER %
|
|
STERLING
|
5,000
|
2.5%
|
2.5%
|
|
US DOLLARS
|
7,500
|
0.25%
|
0.25%
|
|
EURO
|
7,500
|
0.10%
|
0.10%
|
* Gross - the rate of interest paid without
deduction of tax. Please note that you must declare any interest
earned to the income tax authorities in your country of
residence.
** AER - (Annual Equivalent Rate) - this
represents the annual rate effectively received by the customer if
interest at the gross rate applied during a year remains in the
account, and itself earned interest.