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Services > Banking > Services > Optimum account > Terms and conditions
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Terms
and conditions for the Optimum account
- The Optimum account ("the account")
is available to personal clients
in Pounds sterling, Euro and United
States dollars.
- The minimum deposit required to
open an account is £3,000, Euro
5,000 or US$5,000. Provided that
the account balance is maitained
above the minimum balance requirement,
then interest is calculated at the
appropriate Optimum account rate.
If the balance falls below the minimum
balance requirement, then the account
ceases to accrue interest until
such time as the minimum balance
requirement is restored.
- Interest rates will vary in line
with market conditions and the balance
held on the account.
- Interest rates will change in
line with market conditions without
prior notice to account holders.
- An optional cheque book is available
for use on sterling accounts only
at a cost of £30 per book of thirty
cheques. Cheque books will be provided
free of charge where balances on
the account exceed £10,000.
- A bank statement is issued quarterly
after application of interest, or
on request. Paid cheques will not
be returned to account holders.
- Account holders are not permitted
to overdraw the account unless prior
arrangements have been made with
the bank.
- Applications are accepted subject
to satisfactory completion of the
bank's standard account opening
formalities.
- The bank reserves the right to
refuse a deposit or decline to open
an account or to request an account
holder to close an account without
giving a reason for such a decision.
- The bank retains the authority
to debit a joint account held in
the names of two or more persons,
with cheques signed by any one,
or the survivor of the account holders
in accordance with the mandate.
- The bank reserves the right to
vary, amend or add to these Terms
and conditions at any time, with
material amendments advised to account
holders
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