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What types of charity account are available?You can choose a Direct Access Savings Account, a 10 Day Notice Account or a 60 Day Notice Account. All offer competitive tiered interest rates. The 10 / 60 Day Notice Accounts offers higher interest but you must give 10 / 60 clear days' notice before making any withdrawals. All accounts work alongside an existing bank or building society business account (known as the des...
What is a Savings Plan?A Savings Plan can hold up to 99 different accounts for the same business and all the accounts are completely separate. This means you can set up different named accounts for different things. A Savings Plan can include Direct Access Savings Accounts as well as 10 / 60 Day Notice Accounts.
Are there any charges for this account?Charity accounts do not have any charges attached to them for normal transactions. However, with a 10 / 60 Day Notice Account, you will be charged a penalty equal to 10 / 60 day's notice on the amount withdrawn if you do not give us 10 / 60 clear days' notice of withdrawal. There is no limit to the number of withdrawals that you can request. In addition, interim statements...
How secure is the charity account?Your charity account is easy to access and yet incredibly secure. There is a minimum of two and a maximum of three authorised persons on all charity accounts. These are the only people able to make transactions on the account or make alterations to the way in which it is run. Each authorised person has their own personal identification number (PIN) and password which allow...
How do I make deposits and withdrawals?When you open a business account you will be asked to provide details of your existing bank or building society business account. This account will be used for all transactions to and from your Standard Life Bank account and must be in the name of your business. This is referred to as your designated account. Once you have opened your Business Savings Plan, you may registe...
What is pooling?Within your Plan you can have up to 99 accounts. We pay interest on each individual account at the rate which applies to the total balance of all the pooled accounts held in the Plan. As our interest is calculated in tiers, this means your charity could earn even more. You can set up separate named accounts for different things within a Savings Plan - for example, running ...
How and when is interest paid?Interest is paid to each individual account at the rate which applies to the total Savings Plan balance, as long as the plan is made up of the same account type. Up to 99 accounts can be held within each Savings Plan. Interest, which is calculated daily, can be paid either monthly or annually. It can be:
When will I receive statements?We will normally send you statements on an annual basis but you can request them monthly, quarterly or half yearly.
How do I open a charity account?Opening a charity account is remarkably quick and simple. All you have to do is ring us on 0800 783 1687. We will take details and issue a Welcome Pack directly to your business address, for the attention of the first authorised person. A PIN/password letter will be issued to each authorised person at their home address. You then complete the necessary documents in the Wel...
How do I get more information?If you still have a query about a Standard Life Bank charity account, just phone us on 0800 783 1687, where one of our telephone banking operators will be happy to help you.
How is interest paid?The interest rate paid is extremely competitive and will be guaranteed for the term of the Bond. If you make a deposit of £50,000 or more, then interest will be paid gross, regardless of your tax status.
Who can open a Business Fixed Rate Bond?This product is available to business investors who are resident in the UK (and in the case of a limited company incorporated). Available to: Limited companies, Charities, Pension Scheme Trusts, Sole Traders, Partnerships, Clubs and Associations, Solicitor Client Accounts.
How much can I deposit?The minimum amount which can be invested is £1,000 with a maximum deposit of £1,000,000. Only one deposit will be accepted per Bond, although you can open more than one Bond (subject to availability and up to a total maximum of £10,000,000).
How do I make my deposit?You can open your Bond by cheque or bank giro credit. Or you can transfer funds from an existing Direct Access Savings Account or Notice Account. To avoid disappointment, we must receive your funds within 14 days of the initial telephone call. We reserve the right to withdraw the offer if we do not receive your funds within this time. You may only make one deposit into a F...
Can I make withdrawals?No ? the Bond is designed to provide guaranteed interest rates over a specified period, and withdrawals will not be permitted during that time.
How do I open an account?Telephone one of our experienced operators on 0800 783 1687. But remember, this is a limited offer ? if you want to open a Bond, don't delay ? phone us now. The information, services and products on this web site are intended for use by residents of the United Kingdom only. Please click on the following link for full details of Standard Life Bank legal information
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A Charity Bank Account from Standard Life Bank in associatio...