MCDC

Can I connect my Debit Card to one of my joint Currency Current Accounts?

Yes, provided any party can sign on the nominated joint Currency Current Account.

Can I disconnect my sterling Current Account from the Multi-currency functionality on my Debit Card?

No, your sterling current account cannot be disconnected from the Debit Card as this is the default account for your Card i.e. your Debit Card is automatically set up against your sterling current account.

Can I withdraw cash from my connected currency Current Account?

Yes, the bank will identify the currency of the cash withdrawal and check for a connected current account in that currency.

Do I need to order a new Debit Card to receive the Multi-currency functionality?

No, the functionality is available with your existing Debit Card.

How can I update the Currency Current Accounts connected to my Debit Card?

To add/remove currency accounts connected to your Coutts Debit Card, simply log on to Coutts Online, click on Services and select Multi-currency Debit Card, follow the simple instructions and your Debit Card will be instantly updated to your chosen Currency Current Accounts. Alternatively, your preferences can be updated by contacting your Private Banker or Coutts 24 on +44 (0)2079572424.

How do I activate the Multi-currency functionality?

To connect your Coutts Debit Card to your Currency Current Accounts, simply log on to Coutts Online, click on Services and select Multi-Currency Debit Card. Follow the simple instructions and your Debit Card will be instantly connected to your chosen Currency Current Accounts. You can also activate this service by contacting your Private Banker or Coutts 24 on +44 (0)2079572424.

How will the bank know which account to debit?

The bank will detect that a transaction has been made in a foreign currency and check to see if there is a corresponding currency current account connected to your Debit Card. If this is the case, the transaction will be debited against the relevant Currency Current Account. If not, the transaction is authorised against the default sterling Current Account and currency conversion charges will apply in the usual way.

NB – please ensure that any pending transactions have cleared against your Currency Account before de-linking this account. If the debit card has been de-linked prior to clearing the transaction will clear against your GBP account.

If I make an online payment to an overseas merchant, will the Multi-currency functionality look for a corresponding currency Current Account or use the default sterling Current Account?

If a merchant processes a payment in an overseas currency, the bank will check to see if the Debit Card has a corresponding Currency Current Account connected to authorise the payment.

If I make a payment in an overseas currency and my corresponding currency Current Account has insufficient funds, will my payment be declined?

The multi-currency functionality allows you to utilise one of the following two options in the event that there are insufficient funds in the corresponding currency current account:

Your sterling Current Account will be used to make the payment; or
Your payment is declined
To opt in to the ‘default to sterling’ option, simply log on to Coutts Online, click on Services and select Multi-Currency Debit Card. Follow the simple instructions. Alternatively, you can contact your Private Banker or Coutts 24 on +44 (0)2079572424 for further assistance.