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Banking Services for Private Clients
with effect from 1 September 2008
- Current accounts
- Ancillary services
- Online Banking Service
- Currency and travellers cheques
- Safe custody
- International banking services
- Cards
The following fees apply for each account held and are payable in arrears in March, June, September and December.
| Standard Account charges |
Sterling | Non-Sterling |
| Average balance* of at least £10,000 or non-sterling equivalent | No fee | No fee |
|
Average balance* of less than £10,000 or non-sterling equivalent |
£150 | £150 (or currency equivalent) |
|
– per entry charge |
No fee | No fee |
*The average balance is calculated using cleared debit and credit balances for each quarter.
No quarterly management fees will apply when any of the following criteria are met at any point during the quarter:
– Clients holding qualifying investment products* which have a minimum total value of £250,000** or where the original amount invested was at least £250,000**; or
– Clients who have drawndown a minimum of £250,000** in borrowing facilities, excluding overdrafts with Coutts; or
– Clients who have qualifying investments and drawndown borrowing facilities excluding overdrafts with Coutts with a combined minimum total of £250,000**.
*Qualifying investment products are Discretionary Investment Management Service, Orbita/Novus, Tailored Portfolio Management Service, Limited Partnerships, Capital Secure Plan or Customised Investments.
** Or currency equivalent.
| The following fees are payable in addition to any Current Account charges. | |
Account Card |
|
|
UK transactions: |
|
|
– debit card |
no fee |
|
– cash withdrawals |
no fee |
|
– cheque guarantee |
no fee |
|
Non-UK transactions and cash withdrawals (Maestro) |
|
| – The sterling amount for any non-sterling transactions and cash withdrawals using your Account Card will be calculated by applying the exchange rate provided to us by MasterCard International and a foreign exchange charge of 2.65%. |
| Clearing House Automated Payment System (CHAPS) | |
| Payment | £25 |
| Coutts Unarranged Overdraft Borrowing Rate | ||
| Without prior arrangement | 26.00% pa | 28.65% EAR |
| Unarranged Overdraft Fee | £35 |
| Charge where, without prior agreement, you overdraw your account or exceed your overdraft limit. |
| Certificate of Balance (ie, by letter) | £30 |
| Duplicate Certificate of Interest | £10 |
| Dishonoured cheques, direct debits or standing orders | £30 |
| Statements (including card statements) | |
| Replacement/copy (sterling and currency) | no fee if occasional, £5 per sheet if regular user |
| Additional | |
| – Daily | £500 pa |
| – Weekly | £115 pa |
| – Monthly | no fee |
| Certificate of Balance (ie, by letter) | £30 |
| Duplicate Certificate of Interest | £10 |
| Dishonoured cheques, direct debits or standing orders | £30 |
| Statements (including card statements) | |
| Replacement/copy (sterling and currency) | no fee if occasional, £5 per sheet if regular user |
| Additional | |
| – Daily | £500 pa |
| – Weekly | £115 pa |
| – Monthly | no fee |
| Status enquiries |
| Credit enquiries made on you will only be answered with your consent. A charge of £9.50 (inclusive of VAT) is payable by the enquirer. |
| To register for the Online Banking Service | no fee |
| Payments and transfers (per transaction) | |
| CHAPS payments | £20 |
| Telegraphic transfers | £20 |
Currency and travellers cheque service
| Coutts counter service | |
| Currency withdrawals | 1.5% of value |
| Sterling travellers cheques | 1% of value |
| Currency travellers cheques | 2% of value |
| Home delivery service | |
| Currency* | no fee |
| Travellers cheques | 1% of value |
*If sterling is required, a charge of 1% of value (min £5) will be levied. |
The following fees (unless otherwise stated) are charged in advance, in March, and are shown inclusive of VAT. No fees are payable for holding wills where the Bank is named as executor.
| Small envelopes | £10 pa per item |
| Small/medium boxes, pictures, deeds, packages and large envelopes | £50 pa per item |
| Large boxes, chests, trunks, pictures, suitcases and deed boxes | £110 pa per item |
| List of items held | no fee |
| Access to items* | no fee |
| *We reserve the right to charge for valuation visits. |
International banking services
Below are the most common international services used and the fees applicable, which will be charged at the time of use.
| Telegraphic transfer* | £35 |
| Bankers draft drawn on an agent abroad | £25 |
| Crediting receipts from abroad (where beneficiary bears the charge) | £15 |
| Payments under recourse in favour of an account in our books | 0.1% (min £25, max £50) |
| Arranging a cashing facility abroad | £100 |
| *Overseas banks may charge their own commission. This charge will be levied if, when sending monies abroad, you opt to add such fees to the Coutts charge to ensure the beneficiary receives the full amount requested. | |
| Obtaining proceeds of cheques payable abroad | |
| By collection | 0.3% (min £30, max £90) |
| By negotiation (subject to recourse) | 0.3% (min £15, max £90) |
| Negotiation of sterling cheques | as above, plus interest fee of 1% of value |
| Cheques returned unpaid | £15 per cheque |
| Enquiry regarding fate of cheque | £20 (per tracer) |
| Expenses, such as cable fees, agents’ fees and VAT, where applicable, will be added. Fees relating to obtaining proceeds of cheques payable abroad apply whether or not a cheque is paid. When cheques are negotiated by the Bank on your behalf, the Bank credits your account immediately. However, there is an unlimited recourse period attached to the negotiation of cheques and if the cheque is subsequently returned unpaid we will be obliged to debit your account. A charge may be levied for obtaining a missing BIC (Bank Identifier Code) and/or IBAN (International Bank Account Number) on outward payments. | |
Where appropriate, fees are charged on each anniversary of the Coutts World or Coutts Gold Credit Card Account opening, or when a Euro Charge Card or US Dollar Gold Card Account is opened and on each anniversary thereof.
| Coutts World | |
| Card fee | £350 pa* |
| Additional cardholder fee | no fee |
| Late payment charge | 2% of outstanding monthly balance |
| Cash withdrawals | Typical 53.9% APR 2% of each withdrawal (minimum £1.50) |
| *Refunded if £50,000 or more is spent on the Card during the preceding 12 months, excluding cash withdrawals, travellers cheques, balance transfers, interest and charges. |
| Gold Credit Card | |
| Card fee | £90 pa* |
| Additional cardholder fee | £30 pa |
| Monthly borrowing rate | 1.15% |
| Cash withdrawals | Typical 28% APR 2% of each withdrawal (minimum£1.50) |
| *The following refunds will apply once the relevant spend thresholds are reached (excluding cash withdrawals, travellers cheques, balance transfers, interest and charges): | |
Annual spend Refund applicable |
|
| £35,000 and over | £90 |
| £25,000 – £34,999.99 | £60 |
| £15,000 – £24,999.99 | £30 |
| Euro Charge Card | |
| Card fee | €30 pa |
| Additional cardholder fee | no fee |
| Late payment charge | 2% of outstanding monthly balance |
| Cash withdrawals | Typical 7.6% APR 2% of each withdrawal (minimum €3) based on a Monthly Spending Line of €1,500 |
| US Dollar Gold Card | |
| Card fee | $175 pa |
| Additional cardholder fee | no fee |
| Late payment charge | 2% of outstanding monthly balance |
| Cash withdrawals | Typical 27.2% APR 2% of each withdrawal (minimum $2) based on a Monthly Spending Line of $1,500 |
The typical APR amounts shown above have been calculated under the compulsory Consumer Credit Act regulations, which require us to use a £1,500 ‘notional’ credit limit. The £1,500 limit coupled with the annual card fees distorts the ‘advertised’ APRs.
The sterling amount for any non-sterling transactions on CouttsWorld, Gold and Classic Cards, the euro amount for any non-euro transactions on a Euro Charge Card and the US dollar amount on any non-US dollar transactions on a US Dollar Gold Card, will be calculated by applying the rate of exchange provided to us by MasterCard or VISA plus commission of 2.75%.
These fees are applicable from 1 September 2008, but they are reviewed from time to time and any changes will be notified to you in advance. Fees for individual services outside this standard tariff can be provided at any time upon request and will be advised to you when you first use the service. Fees for borrowing are assessed separately for each facility.
For further details of any items described here, please contact your private banker.
Credit and other card facilities: over 18s only.
The Coutts US Dollar Gold Card and Euro Charge Card are issued by The Royal Bank of Scotland International Limited (RBS International). Coutts is a trading name of The Royal Bank of Scotland International Limited (RBS International). Registered office: 71 Bath Street, St Helier, Jersey JE4 8PJ. Regulated by the Jersey Financial Services Commission for carrying on banking, investment and insurance business.
Our services are not offered to any person in any jurisdiction where their advertisement, offer or sale is restricted or prohibited by law or regulation or where we are not appropriately licensed.
APR stands for Annualised Percentage Rate and is the annual percentage rate of the total charge for credit. It calculates the total amount of interest paid over the entire loan period and takes into account charges you have to pay during the loan period. The purpose of APR is to help you compare the true rate of borrowing.
EAR stands for Effective Annual Rate and is the real cost of an overdraft, stated as an annual fee, which takes into account how often interest is charged to the account. All other charges, such as arrangement fees, will be shown separately from the EAR.
Coutts & Co is registered in England No. 36695. Registered Office: 440 Strand, London WC2R 0QS
