Business Banking Business account charges From 04 July 2016 service charge tariffs listed in this leaflet are no longer on sale.
Contents Page Introduction 3 Summary of Business Tariffs 4 Community Account 4 Treasurers Account no longer on sale 4 Business Current Account Standard Tariff no longer on sale 5-6 Foundation Account Standard Tariff no longer on sale 5-6 Royalties Business Account no longer on sale 6 Business Plus Tariff no longer on sale 7-8 Additional charges 9 Account charges 9 Services 10 Debit card charges 10 Autopay service 11 Safe custody 11 Unarranged borrowing 12 When you get charged 13 2
Introduction This brochure details the prices we charge for business services used when running your business account (unless we have agreed separate terms with you). It tells you what you have to pay and when. If you want to know the price of a service that we haven t included here, or if you have any questions about your charges, your Business Manager will be able to help. You will be advised of any changes to charges in the future. 3
Summary of Business Tariffs The charges for the day-to-day running of your account are detailed on pages 5 to 8. These charges together form your service charge. The charging periods for transactions forming part of your service charge generally end when your statement is produced. The charges are then applied 21 days later. We will always write to tell you at least 14 days before we take any service charges from your account. Please refer to page 13 for further details. The service charge tariffs listed below are no longer on sale. Business Current Account Standard Tariff Existing customers can find details of this tariff on pages 5 and 6. Foundation Account Standard Tariff Existing customers can find details of this tariff on pages 5 and 6. Royalties Business Account Existing Royalties Business Account holders can find details of the charges on this account on page 6. Business Plus Account Existing Business Plus Account holders can find details of the charges on this tariff on pages 7 and 8. Business Plus was available to business customers with an annual turnover of less than 250,000 and less than 25,000 total borrowing. Community Account including Treasurers Account (no longer on sale) If you re a not for profit organisation and the annual credit turnover on your current account(s) doesn t exceed 100,000 we ll offer you free banking. We ll monitor your turnover regularly and if we identify that you ve exceeded 100,000 in any 12 month period, we may contact you to tell you that you ll start to incur fees for your everyday transactions. Free banking means that you won t be charged for the everyday transactions. Charges for additional services and unarranged borrowing are not part of the free banking offer. 4
Standard Tariff no longer on sale Service charge Payments out of your account What will appear on your statement Service Standard Tariff BACS Direct Debits Automated payments taken by Direct Debit 37p Standing Orders Standing order payments 45p Other automated debits For example point of sale Debit card payments, ATM withdrawals, Euro Direct Debits and bill or third party payments (excluding Faster Payments) made using Digital or mobile banking Telephone Faster Payment Bill or third party Faster Payments made via the telephone 45p Direct Banking Payments Bill or third party payments made via the telephone 45p Internet Faster Payment Bill or third party Faster Payment made using Digital or mobile banking Branch Faster Payment Faster Payment made out of your account at a branch 3 Other Branch Payments Cheques and other debits Cash out at branches Future dated Branch Faster Payment which on the due date for the payment can only be sent as a BACS payment for reasons beyond The Royal Bank of Scotland s control Charge per cheque or other non-automated debit taken out of your account. This includes: payments by cheque or Debit card at a Royal Bank of Scotland counter or Cash & Deposit Machine cash withdrawals via cheque or Debit card at either a Royal Bank of Scotland or a Post Office counter Charge of cash withdrawn from your account at either: a Royal Bank of Scotland counter; or 37p 37p 67p 67p 66p Debit card transactions used to make third party payments at the branch counter (excluding branch Faster Payments) will be charged as Cash out at branches Payments into your account What will appear on your statement Service Standard Tariff Automated credits Manual Credits Cash paid in at branches Cheques paid in at branches Cash Paid In Branch CDM Fast Cash/Business Quick Deposit These are automated payments paid into your account by standing order and other automated methods Charge per credit of cash and/or cheques at either: a Royal Bank of Scotland counter or Cash & Deposit Machine; or Charge of cash paid into your account at either: a Royal Bank of Scotland counter; or Charge per cheque lodged to your account at either: a Royal Bank of Scotland counter (including postal orders and batches of Royal Bank of Scotland Streamline vouchers) or Cash & Deposit Machine; or Cash paid into your account at a branch via a Cash & Deposit Machine Cash handling service where there is no need to wait whilst your cash is counted 22p 76p 66p 33p 66p 64p 5
Standard Tariff no longer on sale Service charge Other services relating to your tariff What will appear on your statement Service Standard Tariff Cash exchanged Charges for originating BACS and AUDDIS entries BACS payments BACS files processed Charge of cash exchanged at either: a Royal Bank of Scotland counter; or Charge for each item sent to BACS and AUDDIS entries (e.g. salary credits and Direct Debits claimed) Sending a file of payments or AUDDIS entries to BACS Charges covering the basic administration costs of running your account Minimum Monthly Fee Minimum amount of service charge per month payable under each tariff 1.75 Account Maintenance Charge Account maintenance fee to cover the cost of 3 per month providing you with the basic business account services, such as cheque books, paying-in books and plastic cards 14p 5 10 Royalties Business Account no longer on sale Royalties Business allows you to manage your finances for a fixed monthly fee Turnover up to 100,000 per annum 25 Turnover up to 250,000 per annum 55 Turnover over 250,000 per annum not eligible 6
Business Plus Tariff no longer on sale Payments out of your account What will appear on your statement Service Business Plus Tariff BACS Direct Debits Automated payments taken by Direct Debit Free Standing Orders Standing order payments Free Other automated debits For example point of sale Debit card payments, ATM withdrawals, Euro Direct Debits and bill or third party payments (excluding Faster Payments) made using Digital or mobile banking Telephone Faster Payment Bill or third party Faster Payments made via the telephone Free Direct Banking Payments Bill or third party payments made via the telephone Free Internet Faster Payment Bill or third party Faster Payment made using Digital or mobile banking Branch Faster Payment Faster Payment made out of your account at a branch 3 Other Branch Payments Cheques and other debits Cash out at branches Future dated Branch Faster Payment which on the due date for the payment can only be sent as a BACS payment for reasons beyond The Royal Bank of Scotland s control Charge per cheque or other non-automated debit taken out of your account. This includes: payments by cheque or Debit card at a Royal Bank of Scotland counter or Cash & Deposit Machine cash withdrawals via cheque or Debit card at either a Royal Bank of Scotland or a Post Office counter Charge of cash withdrawn from your account at either: a Royal Bank of Scotland counter; or Free Free 84p 84p 95p Debit card transactions used to make third party payments at the branch counter (excluding branch Faster Payments) will be charged as Cash out at branches Payments into your account What will appear on your statement Service Business Plus Tariff Automated credits Manual Credits Cash paid in at branches Cheques paid in at branches Cash Paid In Branch CDM Fast Cash/Business Quick Deposit These are automated payments paid into your account by standing order and other automated methods Charge per credit of cash and/or cheques at either: a Royal Bank of Scotland counter or Cash & Deposit Machine; or Charge of cash paid into your account at either: a Royal Bank of Scotland counter; or Charge per cheque lodged to your account at either: a Royal Bank of Scotland counter (including postal orders and batches of Royal Bank of Scotland Streamline vouchers) or Cash & Deposit Machine; or Cash paid into your account at a branch via a Cash & Deposit Machine Cash handling service where there is no need to wait whilst your cash is counted Free 84p 95p 32p 95p 84p 7
Business Plus Tariff no longer on sale Other services relating to your tariff What will appear on your statement Service Business Plus Tariff Cash exchanged Charges for originating BACS and AUDDIS entries BACS payments BACS files processed Charge of cash exchanged at either: a Royal Bank of Scotland counter; or Charge for each item sent to BACS and AUDDIS entries (e.g. salary credits and Direct Debits claimed) Sending a file of payments or AUDDIS entries to BACS Charges covering the basic administration costs of running your account Minimum Monthly Fee Account Maintenance Charge Minimum amount of service charge per month payable under each tariff Account maintenance fee to cover the cost of providing you with the basic business account services, such as cheque books, paying-in books and plastic cards 1.85 18p 5 N/A 5 per month 8
Additional charges Charges for these activities will unless otherwise stated be debited to your account when the activity occurs and will apply irrespective of the Business tariff that you are on. Account charges These charges will normally be debited to your account when the activity occurs Activity Duplicate/historic statements Audit letters extracting and supplying information to your external auditors Status enquiries For a credit reference on one of our customers, you will need to get their permission in writing. Please send it with a cheque for our fee to their branch Open credit facility arranging for you to cash cheques at another bank/branch Recall of automated credit where an automated payment has been wrongly initiated due to an oversight on your part Stopping a cheque lost or stolen cheques are not subject to this charge 10 Same day value payments (CHAPS) Special presentations a cheque can be specially presented by post to determine quickly (generally the following business day) whether or not the payment will be made Sterling draft 10 Charge for court orders/legal processes served on Royal Bank of Scotland brought by a third party against a customer Charge These charges will be pre-advised and debited to your account at the same time as your service charge 5 per request 25 + VAT per hour (min 25) 10 + VAT 5 to set up 5 20 per payment 15 25 minimum Activity Night safe wallet usage fee Returns inward i.e. cheques paid into your account returned unpaid by drawer s bank Bankers Automated Clearing Services (BACS) files referred to BACS including file stops, re-inputs and extractions Charge 2 per occasion lodged 4 each 45 per file 9
Additional charges Services Service Foreign Services Counter services at other banks Charge For example, International Trade Services and making and receiving international payments. Ask your Business Manager for details If you use counter services of a bank other than Royal Bank of Scotland or NatWest, we may have to pay charges to the other bank. If we do, we will charge you in full. Ask your Business Manager for details of the charge rates and when they are payable This section sets out our charges for the transaction types listed below. It does not reflect any charges which a third party might charge you (for example, commission rates or ATM fees). The Debit card charges below are in addition to the service charge transaction fees relating to Debit cards listed on page 5 and 7. Debit card charges Transaction type Foreign currency withdrawal from any cash machine (ATM) in the UK Cash withdrawals or the purchase of currency or travellers cheques outside the UK Purchases made outside the UK (for example, purchasing goods in a shop) Purchases made anywhere in a foreign currency (for example, online/telephone purchases made in or outside the UK) Charges We will charge a Foreign Cash Fee of 2% of the value of the transaction (minimum 2, maximum 5). We will also charge a Non-Sterling Transaction Fee of 2.75% of the value of the transaction If you elect for the transaction to be converted into Sterling at the point of sale or withdrawal, we will not charge a Non-Sterling Transaction Fee, however the transaction handler may charge you a separate fee We will charge a Foreign Purchase Fee of 2.75% of the value of the transaction (minimum 1) Where a charge in the table above is stated as a percentage, this is a percentage of the Sterling transaction amount. Visa Payment Scheme Exchange Rate Any transaction made in a foreign currency using your Debit card is converted by us into Sterling using the Visa Payment Scheme Exchange Rate. To see the up-to-date rates used for Debit cards visit visaeurope.com and click on the Cardholders section. 10
Additional charges Autopay service All Autopay fees will be taken by monthly Direct Debit from your account Item Description Charge Monthly Service Fee Autopay library insertions/amendments Non standard processing fee Autopay Payments Monthly service fee per Autopay account To set up a beneficiary library i.e. the list of people you want to make payments to If the instructions you give us are not valid, late, unscheduled or over the agreed limit Safe custody charges for keeping valuable or important items in our safe 3 per month Annual Holding Charges (payable annually in arrears). For new items placed in safe custody, we will apply the annual holding charge on the anniversary of the date the items have been deposited Sealed envelopes 25 Small boxes/parcels 45 Large boxes/parcels 65 In addition, initial deposits and any re-deposits following item inspection or temporary release (charged at time of visit) 4.50 for each insertion/amendment (min fee of 20 and max fee of 100) 11 for each reason, on each occasion, up to a total of 22 for each instruction Charge for each payment to another 53p per payment account using our Autopay service Charge (inclusive of VAT) Unless otherwise agreed by the bank we do not accept new items into Safe Custody. Items already held by us in Safe Custody will continue to be held 10 11
Unarranged borrowing All unarranged borrowing will be charged at 15% per annum. You may also incur charges for any administration or monitoring costs associated with unarranged borrowing. All Unpaid Item and Paid Referral Fees will be accrued and charged in line with the charging periods detailed on page 13 of this leaflet. Unpaid Item Fee An Unpaid Item Fee of 20 (subject to a maximum of 100 per monthly charging period or 300 per quarterly charging period) will be payable if: you informally request an overdraft by issuing instructions for a withdrawal or other payment; and the payment cannot be met from the funds in your account or any unused arranged overdraft; and we decide in our discretion not to make the payment. Paid Referral Fee A Paid Referral Fee of 20 will be payable if: you informally request an overdraft by issuing instructions for a withdrawal or other payment; and the payment cannot be met from the funds in your account or any unused arranged overdraft; and we decide in our discretion to make the payment so that an unarranged overdraft is created or increased. We only charge one Paid Referral Fee per day even if more than one item is paid from your account on that day. The total fee for a monthly charging period is capped at 100 whilst the cap for a quarterly period is 300. The Paid Referral Fee is payable in addition to interest at the unarranged borrowing rate. 12
When you get charged Charging period To make it easier for you to check your charges, each service charge period ends when your regular statement is produced. So if your statement date is the sixth business day of the month, your charging period will be from the seventh business day of one month to the sixth of the next. We determine the charging period in which a fee or charge is incurred as follows: For a fixed fee or minimum charge the charging period in which the fee or charge was in force Your monthly statement will be sent together with an Advice of Service Charges. The Advice of Service Charges will provide a breakdown of fees and charges relating to the charging period just ended and the charges are then applied 21 days later. If you receive a statement more frequently than monthly, your charges will be made up to the last business day of each month and an Advice of Service Charges will be sent separately from your statement. For all transaction types listed on pages 5 to 8 of this leaflet together with Paid Referral Fee, the charging period in which the transaction was paid or taken from your account For an Unpaid Item Fee, the charging period in which we decide not to make the payment 13
How to contact us 0345 307 0900, Minicom 0800 0681 289 (24 hours a day, 7 days a week) Visit us at rbs.co.uk/business Braille, large print or audio format? This leaflet is also available in Braille, large print and on audio tape. Please ask at any Royal Bank of Scotland branch for a copy of Our services for customers with disabilities leaflet. Calls cost no more than calls to geographic numbers (01 or 02). Calls from landlines are typically charged up to 10p per minute; calls from mobiles typically cost between 10p and 40p per minute. Calls from landlines and mobiles are included in free call packages. Calls may be recorded. Information and charges are correct as of 13 June 2016. The Royal Bank of Scotland plc. Registered Office: 36 St. Andrew Square, Edinburgh EH2 2YB. Registered in Scotland No. 83026. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. RBS L654(E) 04 July 2016