Foreign & Euro Currency Account Interest Rates

Reference Interest Rates

For information on the Currency Market Interest Rates please refer to our Currency Account Reference Interest RatesCurrency Account Reference Interest Rates PDF, opens in a new browser window..

The Credit Reference Rate is the rate currency accounts are linked to for credit interest and is set at 0.25% below Market Rate. The Debit Reference Rate is the rate currency accounts are linked to for debit interest and is set at 0.25% above Market Rate. The appropriate debit and credit interest rate margins are then applied.

Credit Interest

For information on the Credit Interest Tiers please refer to our Currency Account Credit Interest TiersCurrency Account Credit Interest Tiers PDF - opens in a new browser window..

The Credit Reference Rate is the rate currency accounts are linked to for credit interest and is set at 0.25% below the Market Rate (if Market Rate falls below 0%, it will be treated as 0% until such time it exceeds 0%). The appropriate credit interest rate margin is then applied.

Debit reference rate

The Debit Reference Rate is the rate currency accounts are linked to for debit interest and is set at 0.25% above the Market Rate (if Market Rate falls below 0%, it will be treated as 0% until such time it exceeds 0%). The appropriate debit interest rate margin is then applied.

  • Overdraft facilities available in most major currencies (subject to our normal lending criteria)
  • Overdrafts are subject to arrangement fees
  • Unauthorised borrowing will be charged at the Market/Reference Rate of the account’s currency + 12% margin
  • Interest will be calculated on the cleared daily balance of the new or excess overdraft and will be payable for the duration of the unauthorised overdraft.

Debit Interest

Overdraft facilities available in most major currencies (subject to our normal lending criteria).

Unauthorised borrowing will be charged at the market/reference rate of the account’s currency +12%.

Credit Interest

Euro Currency Account & Euro Call Account

Credit interest is linked to the Euro Overnight Index Average (EONIA®).

Credit interest is paid on a seven tiered tranche as follows:-

Credit Interest Rate Tiers (denominated in GBP Sterling)
Credit Interest Rate Margin
<£3,000 No interest paid
£3,000 - £19,999 -3.50%
£20,000 - £39,999 -2.50%
£40,000 - £79,999 -1.50%
£80,000 - £199,999 -1.00%
£200,000 - £399,999 -0.50%
£400,000 - £799,999 -0.25%
£800,000+ Full rate

The EONIA rate can be obtained from a number of independent sources including the Financial Times.

US Dollar Currency Account

Credit interest is linked to the Federal Funds Target Rate.

Credit interest is paid on a seven tiered tranche as follows:-

Credit Interest Rate Tiers (denominated in GBP Sterling) Credit Interest Rate Margin
<£3,000 No interest paid
£3,000 - £19,999 -3.50%
£20,000 - £39,999 -2.50%
£40,000 - £79,999 -1.50%
£80,000 - £199,999 -1.00%
£200,000 - £399,999 -0.50%
£400,000 - £799,999 -0.25%
£800,000+ Full rate

The Federal Funds Target Rate can be obtained from a number of independent sources including the Financial Times.

Other (Non-Euro or US Dollar) Foreign Currency Account

The Market / Reference Rate is the rate currency accounts are linked to for credit interest.

Credit interest is paid on a seven tiered tranche as follows:-

Credit Interest Rate Tiers (denominated in GBP Sterling) Credit Interest Rate Margin
<£3,000 No interest paid
£3,000 - £19,999 -3.50%
£20,000 - £39,999 -2.50%
£40,000 - £79,999 -1.50%
£80,000 - £199,999 -1.00%
£200,000 - £399,999 -0.50%
£400,000 - £799,999 -0.25%
£800,000+ Full rate


Note: Should the Market / Reference Rate fall below zero, no interest will be paid. If when the Market / Reference Rate together with the deduction of the Credit Interest Margin is still below zero, then no interest will be paid.

If you would like to know the Market / Reference Rate for your currency account and where this is sourced, please see our Market / Reference Rate ScheduleA PDF, opens in a new browser window., or contact your Relationship Manager.

Exchange RatesExchange Rates PDF, opens in a new browser window. (For use with Credit Interest Rate Tiers denominated in GBP Sterling - see above).

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