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Harrods Bank
 

BUSINESS high value CURRENT ACCOUNT

ACCOUNT OVERVIEW

Our Business High Value Current Account combines payment of interest on the account balance with simple and efficient current account banking.

Interest on account balances above £5,000 is calculated at a gross rate which varies depending on the balance maintained. 

Business High Value Current Account customers receive a Harrods Bank cheque book and debit card, and the account may also be used to arrange regular payments via standing order or direct debit.

Management of the Business High Value Current Account is simple and convenient. Colleagues at our branch within the Harrods Knightsbridge store are always available to carry out instructions, which may also be provided by telephone or by post. Certain transactions may also be completed using your debit card, at the ATM machines of many UK (and overseas) banks.

As with every aspect of the Harrods Bank service, our Business High Value Current Account is designed for those wishing to manage their business finances with the assistance of a helpful and experienced relationship manager, who will expend the time required to understand your business, as well as its relationship to your personal financial situation.

ACCOUNT SUMMARY

Account Name Business High Value Current Account
What is the interest rate? Balances of £5000 - £49,999           0.20% Gross / AER
Balances of £50,000 +                     0.30% Gross / AER
There is no bonus interest payable.
Interest is variable and calculated daily on the cleared balance. Interest will be applied to the account on the last business day of every month.
Can Harrods Bank Ltd change the interest rate? Interest is variable and we may change the interest rate paid on your account balance.
In line with 27.1 of our T&C's we may make such changes without notice if the change is in your favour and will inform you of such change within 30 days and in all other cases we will give you at least two months' prior notice of any change we make.
What would the estimated balance be after 12 months based on a £25,000 deposit? £25,050 gross
Assuming a start date of 01 August 2016 and no rate changes. Provided for illustration only and does not take individual circumstances into account.
How do I open and manage the account? These accounts are only open to individuals of 18 years and above.
Account can be opened by postal application or by visiting our branch.Minimum deposit £1
Maximum deposit £2,500,000
Once open you can manage your account by phone, by post or in branch. For more information see Contact Us.
Can I withdraw money? Cash at counter - Harrods Bank Ltd.
By arrangement - postal or telephone request.
No notice period required for withdrawals.
Additional Information Interest is paid at the Gross rate without deducting any tax. Any interest earned will count towards your Personal Savings Allowance and you will be responsible for paying any tax due on interest credited to your account. Please refer to HMRC for further details.
The Bank has the right to withdraw the product at any time and you will not be informed in writing if the Bank does so (please note this does not apply for existing holders of this account).
 

See a summary of all our business accounts with the key product facts - please click here