Current Account

• 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.

We’re committed to helping you get the most out of your account – which includes making you aware of the charges and rates of interest that apply to your account.

All charges and rates shown are correct as at 1 February 2011 and may change. The interest rates shown have been rounded to two decimal places.

Full copies of the fees and terms and conditions that apply to our personal accounts can be downloaded from our website terms and conditions.

Throughout this page, you'll see various terms being used. Here's what they mean:

Annual Equivalent Rate (AER)
This is a notional rate used for interest bearing accounts, which illustrates what the gross credit interest rate (excluding any bonus interest payable) would be if paid and compounded on an annual basis. It helps you to compare the effective rates of credit interest on different accounts.

Effective Annual Rate of Interest (EAR)
This is the real annual cost of an overdraft, stated as an annual rate, which takes into account how often interest is charged to the account. All other charges, such as arrangement fees, must be shown separately from the EAR.

Gross Rate
The interest rate you are paid before the deduction of income tax.

Nominal Rate
The rate charged excluding compounding of interest and other charges associated with a borrowing, e.g. arrangement and security fees.

p.a.
per annum (per year)

As long as you stay in credit, you can receive the following services without any separate charge being made:

• Payments by debit card in the UK, cheque, Direct Debit or standing order.
• Sterling transactions using your debit card or ATM card in any RBS International, NatWest, Isle of Man Bank or Royal Bank of Scotland cash machines, or almost all other UK cash machines. There are some cash machines in the UK and abroad where the owner of the machine may charge a fee. You will be advised on the screen about any charges before you withdraw cash. You can then stop the transaction if you do not want to be charged.
• Account statements (but a charge is made for copies).
• Cheque books, paying-in books and statement holders.
• Telephone and online banking – apart from the cost of the phone call and any charges your Internet Service Provider may charge you for accessing the service.
• Use of our counter services. There may be additional fees if we have to make special arrangements or provide specialist services.

Arranged overdrafts

Where you have an arranged overdraft limit and you pay interest at the standard overdraft interest rate detailed below, you will pay interest on the whole overdrawn balance up to the agreed limit - except where you have a current account or Royalties Cheque account, in which case no interest will be charged on the first £100 of your overdrawn balance.

The following rates are effective from 22/08/10

Unarranged overdraft rates

Any amount overdrawn without an arranged overdraft or in excess of an arranged overdraft limit will be charged at the rate shown in the following table:

The following rates are effective from 22/08/10

Calculation and application of interest

Interest on arranged and unarranged overdrafts is calculated on a daily basis and charged monthly, 16 days after the end of the charging period (or on the next business day if this is a Saturday, Sunday or Bank Holiday). The charging period normally ends on the date that we send your statement to you.

The following monthly subscription fees are payable by Royalties customers. Membership includes access to all the benefits listed in the appropriate brochures and user guides. These also contain details of other fees and services.

Application of monthly subscription fees

The subscription fee for each monthly charging period will be debited from your account 21 days after the end of that charging period (or on the next business day if this is a Saturday, Sunday or Bank Holiday). The fee will appear on your statement as ‘CHG’. The charging period normally ends on the date that we issue your statement to you.

For Royalties Cheque, Current Account, Personal Current Account & Gold Cheque

The charges shown in this section do not normally apply to the other accounts we offer to Personal Banking customers. However, we sometimes allow other accounts to be operated in a way which enables the customer to give instructions for a withdrawal or other payment which cannot be met from the funds in the account. If this happens, the charges listed below under the heading “Unarranged overdrafts and returned items – charges” will apply.

Changes to charges

From time to time we may alter the charges set out in this leaflet. If we increase a charge, we will notify you personally not less than 60 days before the change comes into effect.

Arranged overdrafts - arrangement and renewal fees

Unarranged overdrafts, unpaid items and enforcement charges

Premium Cheque withdrawal charges

The first 10 withdrawals per quarter are free (including all deposits). All withdrawals thereafter are charged at 50p. This charge is taken quarterly when we send your statements.