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Interest Paying Current Account
The simple way to manage your everyday finances
Everything you need in a current account - with the service you expect from RBS International.
- Easy access - guarantee cheques for up to £100 and withdraw up to £300 daily from cash machines and by debit card.
- Interest-free overdraft - no fees on an overdraft of up to £100 if you decide to apply (subject to status).
- No charges - why pay more than you have to? There are no extra fees as long as you're in credit and within your agreed overdraft limit. (For overdrafts over £100, we charge interest on your outstanding balance).
- Statements and mini statements - stay up-to-date, and get mini statements from any Royal Bank of Scotland machine in the UK, Channel Islands and Isle of Man.
Interest rates
Interest you earn when in credit (Creditor Interest Rates)
| Amount | Gross rate % | AER % |
|---|---|---|
| All balances | 0.10 | 0.10 |
Overdraft rates (Debtor Interest Rates)
| Amount | Monthly % | EAR % |
|---|---|---|
| Within agreed facility | 1.48 | 19.24 |
| 19.24% EAR typical | ||
Application of interest
Interest is calculated on a daily basis and paid into your account monthly, usually the day after we send your statement to you.
Gross rate
Gross rate - is the interest rate paid before the deduction of tax.
Annual Equivalent Rate (AER)
Annual Equivalent Rate (AER) - illustrates what the interest rate would be if paid and compounded each year.
Effective Annual Rate of Interest (EAR)
This is the real annual cost of an overdraft stated as annual rate which takes into account how often interest is charged to the account. All other charges, for example arrangement fees, are shown separately from the EAR.
back to topUnarranged overdraft rates
Any amount overdrawn in excess of the arranged overdraft limit will be charged at a rate of 1.48% per month, which is equivalent to an Effective Annual Rate of 19.24% pa
back to topCharges
There are a number of ancillary services available to you. The most common of these are listed with their costs. These charges are in respect of personal banking. Also listed are services which we may have to perform for you.
Arranged overdrafts - arrangement and renewal fees
| Account type | Fee payable |
|---|---|
| Royalties Cheque | |
| Arranged overdrafts up to £10,000 Arranged overdrafts over £10,000 Renew an overdraft at the existing level | Free 2% (minimum £45) 1% (minimum £45) |
| Interest Paying Current Account | |
| Arranged overdrafts up to £100 Arranged overdrafts over £100 Renew an overdraft at the existing level | Free 2% (minimum £45) 1% (minimum £45) |
Unarranged overdrafts, unpaid items and enforcement charges
| Fee type | When charged | Fee amount |
|---|---|---|
| Maintenance charge | ||
| If your account becomes overdrawn without prior arrangement or any arranged overdraft limit is exceeded, you will be liable for a monthly maintenance charge.
The maintenance charge will be applied if you have an unarranged overdraft at any time during a monthly charging period. | 16 days after the end of the charging period (or the next business day if this is a Saturday, Sunday or Bank Holiday). The charging period normally ends on the date that we issue your statement to you. | £20 (£10 for R21 account) |
| Paid referral fee | ||
A paid referral fee will be payable if:
| 16 days after the end of the charging period in which the transaction was paid or taken from your account (or the next business day if this is a Saturday, Sunday or Bank Holiday). The charging period normally ends on the date that we issue your statement to you. | £15 for each day on which a paid referral occurs (subject to a maximum of £90 in any charging period). |
| Guaranteed card payment fee | ||
A guaranteed card payment fee will be payable if:
| 16 days after the end of the charging period in which the transaction was paid or taken from your account (or the next business day if this is a Saturday, Sunday or Bank Holiday). The charging period normally ends on the date that we issue your statement to you. | £15 for each transaction (Subject to a maximum of £90 in any charging period). |
| Unpaid item fee | ||
An unpaid item fee will be payable if:
| 16 days after the end of the charging period in which the transaction was paid or taken from your account (or the next business day if this is a Saturday, Sunday or Bank Holiday). The charging period normally ends on the date that we issue your statement to you. | £5 for each item (subject to a maximum of £50 in any charging period). |
| Making an informal request for an overdraft means you will have to pay a paid referral fee, a guaranteed card payment fee or an unpaid item fee. If an unarranged overdraft arises, you will also have to pay the maintenance charge and interest on the amount overdrawn. | ||
| Enforcement charges | ||
| A default notice fee will be payable if we need to serve a default notice on you (for example, if you fail to repay your overdraft on demand or we wish to enforce any security we hold). This is in addition to any other charges that may apply. | Within four days of the default notice being served. | £30 per notice |
Changes to charges
From time to time we may alter the charges set out in this webpage. If we increase a charge, we will notify you personally not less than 60 days before the change comes into effect. If we reduce a charge, we may make the change immediately. We will notify you personally, via this website and, if the change applies to branch based accounts, by branch notices.
back to topAdditional services
| Type of service | Fee amount | |
|---|---|---|
| Stopping payment instructions | ||
| Stopping a cheque (unless it has been lost or stolen) | £10 | |
| Payments | ||
| Obtaining a sundry payments cheque | £12 | |
| Obtaining a special cheque clearance | £15 | |
| CHAPS payments | £23 | |
| Obtaining copies of statements | £5 per request | |
| Certificate of debit interest | No fee | |
| Certificate of credit interest | £10 | |
| International payments | ||
| Including currency transfers in the UK currency inward collections | 0.3% (minimum fee £23, maximum fee £40) plus £10 agents charge where applicable | |
| Inward payments from overseas | ||
| Depending on payment instructions these charges may be for the beneficiary or remitter | Up to £100 - no charge Over £100 - £7.50 plus agents charges where applicable | |
| Foreign cheques | ||
| Cheques drawn at foreign banks in local currency are usually negotiated The Bank reserves the right to obtain proceeds on a collection basis where appropriate | Negotiation 0.25% (minimum fee £7, maximum fee £45) Collection 0.25% (minimum fee £20, maximum fee £70) | |
| Foreign draft | £40 | |
| Outward / Inward payment investigations | ||
| Within 6 months of payment release 6 - 12 months from payment release Over 12 months from payment release | £25 per item £50 per item £100 per item | |
| ibanking plus payments | ||
| CHAPS reduced tariff | Minimum £15 | |
| ibanking plus international payments | ||
| £5,000 or less Over £5,000 | £15 0.3% (maximum £40) | |
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