You need a sterling business account (current or instant access savings account) and a International business account (current or savings) in the same currency as the term deposit before you can open this deposit (and must hold such account for as long as you have this deposit).
How to open the account:
Book an appointment at one of your local branches by calling Business Telephone Banking, on 03457 606 060, or by booking directly with the branch.
US$10,000 (or the equivalent) for deposits in US dollars, Canadian dollars, euros, Japanese yen or Swiss francs
US$15,000 (or the equivalent) for deposits in other currencies
- No maximum balance limit (but once opened, you can't add more money to it)
How to manage the account:
Once opened you can manage your account online, in branch or by phone.
Can I withdraw money?
- You can withdraw the full amount of the deposit before it matures, as long as it’s less than £50,000 (or currency equivalent)
- You can’t withdraw part of the money from a deposit
- You can’t withdraw a deposit for £50,000 or more (or currency equivalent) before it matures
- We charge a minimum fee of US$260 or EUR220 (or the US dollar equivalent) for early withdrawals (subject to change for new and renewed deposits, but not for any deposits you already have)
When your fixed deposit matures:
- You can move all or some of the money to another account in the same name and currency; or
- Renew the deposit
If you haven't given us any instructions about what to do at least 2 working days before maturity, we'll renew it for the same length of time, at the then current interest rate.