Current accounts rates and charges

All current accounts are now closed and we no longer offer current accounts to new customers. If you have a question or require support for a current account you previously held, please contact us.

Current account interest rates

Current account interest rates
Item	EAR*	AER**/Gross	Gross monthly interest
Item Credit balance	EAR*	AER**/Gross 0.05%	Gross monthly interest 0.05%
Item Arranged overdraft	EAR* 19.90%	AER**/Gross 18.29%	Gross monthly interest 18.29%

Representative example

The interest rate for using an arranged overdraft limit of £1,200 is 19.90% EAR Variable.

EAR is the Equivalent Annual Rate. This is the actual annual interest rate of an overdraft. This means you are charged over the year based on how often and how much you are overdrawn by, and the effect of compounding it – charging interest on interest already charged. This does not include any other fees and charges.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if the interest was paid and compounded once each year. As every advertisement for a savings product, which quotes an interest rate, contains an AER you will be able to compare more easily what return you can expect from your savings over time.
Gross rate means we will not automatically deduct tax from the interest we pay on money in your account. It’s your responsibility to pay any tax you may owe to HM Revenue & Customs (HMRC).

How much does my overdraft cost in pounds and pence?

You can use our overdraft calculator to work out how much your expected arranged overdraft borrowing would cost.

As an example, the interest cost of borrowing £500 is:

Overdraft costs
7 days	30 days	60 days
7 days £1.75	30 days £7.52	60 days £15.14

Overdraft calculator

Fees and charges

Fees and charges
Item	Charge	When the fee is collected	How often the fee is made
Item Copy of paid cheque	Charge £5	When the fee is collected On request	How often the fee is made On request
Item Cancelled cheque (except for lost or stolen cheques)	Charge £7.50	When the fee is collected On request	How often the fee is made On request
Item CHAPS payments from your jar to another UK account	Charge £25	When the fee is collected On request	How often the fee is made On request
Item Debit card withdrawal or payment in a foreign currency (excludes euro transactions in the UK or EEA) Debit card withdrawal or payment in pounds outside the UK	Charge 2.25% plus £1.50	When the fee is collected On request	How often the fee is made On request
Item Debit card payment in euro within the EEA or UK; Cash withdrawal of euro within the EEA or UK	Charge 2.25%	When the fee is collected On request	How often the fee is made On request

Using your debit card abroad

If you use your Intelligent Finance debit card abroad and make transactions in a foreign currency, or in pounds when you are abroad, the amount of each transaction will be changed to pounds on the date we take it out of your current account jar. This may not be the same date that the transaction is carried out.

The exchange rate we use will be the Visa payment scheme exchange rate. We will charge a foreign currency transaction fee of 2.25% of the amount of each foreign currency transaction, and for transactions in pounds outside the UK. This is a fee for currency conversion. We will also deduct a foreign currency cash or foreign currency purchase fee of £1.50 for each transaction.

We won’t charge a foreign currency cash fee if you use your debit card to:

withdraw euro within the EEA or UK
withdraw euro from outside the EEA or UK and the cash machine operator’s payment service provider is based in the EEA or UK.

We won’t charge a foreign currency purchase fee if you use your debit card to:

make a payment in euro within the EEA or UK
make a payment from outside the EEA or UK in euro, if the seller’s payment service provider is based in the EEA or UK. The exchange rate and the foreign purchase amount shown above may be in a different currency than the one used in the country you made the transaction.

Debit card cash machine withdrawal limits:

£300 per day for Intelligent Finance P-Plan customers.
£500 per day for Intelligent Finance W-Plan customers.

If for medical or disability reasons you are unable to use the PIN provided for your debit card please get in touch

Using your debit card abroad