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Interest Rates and Charges

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Previous Interest Rates

Current Account

St. James's Place Bank no longer offers Current Accounts to new clients.

2nd April 2009 to 18th March 2010

Interest Rates +

Item  EAR* AER**/Gross Monthly interest Gross p.a
Credit Balance   % 0.05%
Arranged overdraft %    
Unarranged overdraft %    

All rates shown are variable

# If, without agreement, your current account goes overdrawn or you go over your overdraft limit, we will charge you interest on the amount of your overdraft that has not been arranged at the rate that we set for unarranged overdrafts.

* EAR is the Equivalent Annual Rate. If we agree to let you have an overdraft, we will decide your overdraft limit and tell you what it is. Overdrafts are repayable on demand.

** AER stands for Annual Equivalent Rate and illustrates what the interest would be if interest was paid and compounded each year. The gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law (currently 20%). The net rate is the rate of interest payable after allowing for the deduction of income tax at the specified rate.

Unarranged overdrafts and payments you do not pay when you are meant to are not taken into account for the balance netting calculation.

Fees and Charges

Item Charge When is the fee collected How often is the fee made
Cash withdrawal from LINK ATM Nil n/a n/a
Copy of paid cheque £5.00 on request on request
Stopped cheque (except for lost or stolen cheque) £7.50 on request on request
CHAPS - same day electronic funds transfer between banks £25.00 on request on request
Unpaid item fee - when we decide to return unpaid any cheque, direct debit, standing order or other payment instruction because there are insufficient funds or no Arranged Overdraft to pay the transaction. £30.00 On the last day of the next calendar month after the fee was incurred Fee is charged per unpaid item. Standing orders and payment instructions are subject to 1 fee per day
Unarranged overdraft fee - this is charged when your current account goes overdrawn without a pre-arranged overdraft or when it exceeds an Arranged Overdraft. £28.00 On the last day of the next calendar month after the fee was incurred once a calendar month
Copy statements £5.00 on request on request
Overseas transaction 2.25% plus £1.50 on request on request

Find out more about interest rates and charges

Charges for using your debit card abroad

If you use your debit card abroad and make transactions other than sterling, the amount of each transaction will be changed to sterling on the date we take it out of your current account facility. This may not be the same date that the transaction is carried out. We will choose the exchange rate which will always be a reasonable one. We will charge a conversion fee of 2.25% of the amount of each foreign currency transaction. We will also deduct a service charge of £1.50.

2nd December 2008 to 1st April 2009

Item
EAR
AER / Gross pa
Gross Monthly
Credit Balance   0.10% 0.10%
Arranged overdraft 10.05%    
Unarranged overdraft 25.25%    

2nd November 2008 to 1st December 2008

Item
EAR
AER / Gross pa
Gross Monthly
Credit Balance   1.25% 1.24%
Arranged overdraft 10.05%    
Unarranged overdraft 25.25%    

30th April 2008 to 1st November 2008

Item
EAR
AER / Gross pa
Gross Monthly
Credit Balance   2.25% 2.23%
Arranged overdraft 10.05%    
Unarranged overdraft 25.25%    

2nd March 2008 to 29th April 2008

Item
EAR
AER / Gross pa
Gross Monthly
Credit Balance   2.50% 2.47%
Arranged overdraft 10.05%    
Unarranged overdraft 25.25%    

31st Dec 2007 to 1st March 2008

Item
EAR
AER / Gross pa
Gross Monthly
Credit Balance   2.75% 2.72%
Arranged overdraft 10.05%    
Unarranged overdraft 25.25%    

11th Nov 2006 to 30th Dec 2007

Item
EAR
AER / Gross pa
Gross Monthly
Credit Balance   3.00% 2.96%
Arranged overdraft 10.05%    
Unarranged overdraft 25.25%    

27th Aug 2006 to 10th Nov 2006

Item
EAR
AER / Gross pa
Gross Monthly
Credit Balance   2.75% 2.72%
Arranged overdraft 9.80%    
Unarranged overdraft 25.00%    

5th Sept 2005 to 26th Aug 2006

Item
EAR
AER / Gross pa
Gross Monthly
Credit Balance   2.50% 2.47%
Arranged overdraft 9.80%    
Unarranged overdraft 25.00%    

28th Nov 2003 to 4th Sept 2005

Item
EAR
AER / Gross pa
Gross Monthly
Credit Balance   2.75% 2.72%
Arranged overdraft 9.80%    
Unarranged overdraft 25.00%    

5th Aug 2003 to 27th Nov 2003

Item
EAR
AER / Gross pa
Gross Monthly
Credit Balance   2.75% 2.72%
Arranged overdraft 8.39%    
Unarranged overdraft 25.00%    

1st March 2003 to 4th Aug 2003

Item
EAR
AER / Gross pa
Gross Monthly
Credit Balance   3.00% 2.96%
Arranged overdraft 8.39%    
Unarranged overdraft 25.00%    

7th Oct 2002 to 28th Feb 2003

Item
EAR
AER / Gross pa
Gross Monthly
Credit Balance   3.20% 3.15%
Arranged overdraft 8.39%    
Unarranged overdraft 25.00%    

5th Dec 2001 to 6th Oct 2002

Item
EAR
AER / Gross pa
Gross Monthly
Credit Balance   3.20% 3.15%
Arranged overdraft 9.00%    
Unarranged overdraft 25.00%    

13th Nov 2001 to 4th Dec 2001

Item
EAR
AER / Gross pa
Gross Monthly
Credit Balance   3.70% 3.64%
Arranged overdraft 9.50%    
Unarranged overdraft 25.00%    

17th Oct 2001 to 12th Nov 2001

Item
EAR
AER / Gross pa
Gross Monthly
Credit Balance   3.85% 3.78%
Arranged overdraft 9.75%    
Unarranged overdraft 25.00%    

6th Sept 2001 to 16 Oct 2001

Item
EAR
AER / Gross pa
Gross Monthly
Credit Balance   4.10% 4.02%
Arranged overdraft 9.75%    
Unarranged overdraft 25.00%    

29th June 2001 to 5th Sept 2001

Item
EAR
AER / Gross pa
Gross Monthly
Credit Balance   4.50% 4.41%
Arranged overdraft 10.50%    
Unarranged overdraft 25.00%    

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