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Harrods Bank
 

KEY PRODUCT INFORMATION FOR BUSINESS ACCOUNTS

Account Name Business Call Deposit Account
Interest Rates Interest rates payable – variable.
Interest paid quarterly on cleared balances above £1.
Please see our current Credit Interest Rates for Customers.
Tax Status 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.
Conditions for Bonus Payment No bonus payment.
Withdrawal Arrangements No notice period.
Access Cash at counter - Harrods Bank Ltd.
By arrangement - postal or telephone request.
 
Account Name Business High Value Capital Account
Interest Rates Interest rates payable – variable.
Interest paid quarterly on cleared balances above £10,000.
Please see our current Credit Interest Rates for Customers.
Tax Status 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.
Conditions for Bonus Payment No bonus payment.
Withdrawal Arrangements Notice period – 90 days.
Penalty for early withdrawal - penalty interest (equivalent to the notice period calculated on the amount withdrawn) will be charged.
Access Cash at counter – Harrods Bank Ltd.
By arrangement – postal or telephone request.
 
Account Name Business High Value Current Account
Interest Rates Interest rates payable – variable.
Interest paid monthly on cleared balances above £5,000.
Please see our Current Interest Rates for Customers.
Tax Status 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.
Conditions for Bonus Payment Not applicable – no bonus payment.
Withdrawal Arrangements Cheque book and Harrods Bank VISA debit card available (subject to approval).
Cash withdrawals using a Harrods Bank VISA debit card can be made from any ATM displaying the VISA logo. We do not charge you for this service (within the UK), however, you may be charged by the Bank providing the ATM. There are charges applicable to ATM usage abroad.
Regular payments (e.g. utility bills) can be paid by standing order or direct debit.
Access Instant access to funds.
Cash withdrawals (by cheque) and debit card. Deposits can be made at any branch of The Royal Bank of Scotland Plc.
Please see Business Account Charges & Fees for charges for cash services.
Service Charges All payments from and receipts to an account, 90p per item, subject to a minimum monthly charge of £30.
Please see Business Account Charges & Fees for charges for cash services.
Other Features Statements provided monthly.
Overdrafts available subject to financial assessment and if appropriate, the deposit of security.
 
Account Name Business High Value Deposit Account
Interest Rates Interest rates payable – variable.
Interest paid monthly on cleared balances above £5,000.
Please see our current Credit Interest Rates for Customers.
Tax Status 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.
Conditions for Bonus Payment No bonus payment.
Withdrawal Arrangements Notice period – 35 days.
Penalty for early withdrawal – penalty interest (equivalent to the notice period calculated on the amount withdrawn) will be charged. 
Access Cash at counter – Harrods Bank Ltd.
By arrangement – postal or telephone request.