Credit interest. For the funds which exist in the main current account within certain Packages and only for certain currencies, the Bank applies the interest depending on the interval of amounts in which the credit balance of the account is included at the end of each day and on the credit interest rate applicable for the respective amount interval. The credit interest rate applicable to the current account is variable. In case of Packages for which the Bank applies an interest, the interest rate and its application conditions are found in the application for purchasing banking products and services.
Credit interest. 7.1 We will calculate credit interest daily and pay it monthly.
7.2 The credit interest rate is a Managed Rate. Please see our website or call us for details of the credit interest rate applicable.
7.3 We will pay any credit interest on your next Statement Date (or, if this is not a Working Day, on the next Working Day). The Private bank account glossary This is a glossary of the Financial Conduct Authority’s standardised terms and definitions for the most representative services linked to a payment account. We use these terms to explain certain services linked to your Private bank account and this glossary is in addition to the definitions in the Investec Bank plc Banking Relationship Agreement. maintaining the account The account provider operates the account for use by the customer. arranged overdraft The account provider and the customer agree in advance that the customer may borrow money when there is no money left in the account. The agreement determines a maximum amount that can be borrowed, and whether fees and interest will be charged to the customer. unarranged overdraft The customer borrows money when there is no money left in the account (or when the customer has gone past their arranged overdraft limit) and this has not been agreed with the account provider in advance.
refusing a payment due to lack of funds The account provider refuses a payment from the customer’s account because there is not enough money in it (or it would take the customer past their arranged overdraft limit). allowing a payment despite lack of funds The account provider allows a payment to be made from the customer’s account although there is not enough money in it (or it would take the customer past their arranged overdraft limit). direct debit The customer permits someone else (recipient) to instruct the account provider to transfer money from the customer’s account to that recipient. The account provider then transfers money to the recipient on a date or dates agreed by the customer and the recipient. The amount may vary. standing order The account provider makes regular transfers, on the instruction of the customer, of a fixed amount of money from the customer’s account to another account. sending money within the UK The account provider transfers money, on the instruction of the customer, from the customer’s account to another account in the UK. sending money outside the UK The account provider transfers money, on the instruction of the customer, from the customer’s ...
Credit interest. Purchases and cash withdrawals made with the card, are interest-free until the due date following the invoicing date, after which a credit interest shall be calculated for the remaining unpaid credit in accordance with the agreement. The cardholder shall be liable to pay an annual interest accrued on the credit in use and determined annually on the interest revision dates. The credit interest shall consist of the reference rate and the margin agreed in the agreement however so the credit interest shall never be less than the margin. The interest is calculated according to actual interest days using 365 as the divisor. The reference interest rate used is 3 month’s euribor which is published at xxxxxxxxxxxx.xx. The credit interest remains unchanged during an interest rate determination period. The length of the interest rate determination period becomes evident from the name of the reference interest rate applied. The value of the reference interest rate is revised on the annual interest revision dates, that are the first (1st) banking day of March, June, September and December. If the value of the reference interest rate changes, the credit interest changes accordingly. The amendments to the interest shall be applied immediately on the interest revision dates without a prior notice. The new interest rate will be applied from the next invoice onwards. The cardholder is notified of the interest rate of an interest rate determination period afterwards in the invoice/statement. In case the agreement enters into force in between the interest revision dates, the interest in accordance with the previous interest revision date shall be applied to the agreement. If quotation of the reference interest rate ceases or is discontinued, the reference rate applied to the credit will be based on the statute issued on the new reference rate, or on a decision or instruction of the authorities. If no statute, official decision or instruction is issued on the new reference interest rate, and no agreement is reached with the cardholder about a new reference rate, the card issuer will set the new reference rate after consulting the authorities supervising finance companies.
Credit interest. Depending on the type of Account you have, you may earn credit interest on the credit balance in your Account at the end of each day once all payments have been made to and from the Account. This daily credit balance might not be the same as your Account balance as shown on your Account statement or online payment logs, which may include payments that have been made to your Account but are not yet available for you to use (for example, in the case of a cheque paid into your Account). You cannot earn credit interest on any amount lodged to the Account on the date you close the Account. For more details about when your money will begin earning credit interest, please see the ‘Making and receiving payments’ section.
Credit interest. We don’t pay interest on any loan account, even if you’ve deposited more than your loan amount into that loan account.
Credit interest. You won’t earn interest on credit balances.
Credit interest. 3.1 Where credit interest is payable on an account:
3.1.1 it is calculated on a 365 day year for accounts in Sterling and a 360 day year for accounts in US Dollars or Euro. Details of other currencies are available from Barclays on request.
3.1.2 it will be paid on cleared balances after the deduction of tax (if required).
Credit interest. 6.1 The applicable credit interest rate will be advised to you when the account is opened. The rate is subject to change from time to time.
Credit interest. The credit interest rate will be fixed for each Investment Period and will be the rate applicable at the time your Account is opened or at the time you reinvest your funds. If you choose to reinvest your funds, the day of Maturity will also be the first day of the new Investment Period. The rate is set out on your Account statement issued at Account opening, reinvestment and annually. Details of applicable credit interest rates are available from our branches or on our website and are provided as guidance only.
Credit interest. I may receive interest on positive account balances, referred to as “free credit balances,” provided that the funds are awaiting reinvestment and are subject to certain minimum balances and time requirements. Pershing and Price may receive compensation based on the amount of free credit balances in its clients’ accounts. If I currently maintain free credit balances in my Account solely for the purpose of receiving credit interest, and have no intention of investing the funds in the future, I should contact Xxxxx to discuss my investment options. Price generally requires all accounts to have a money market fund sweep option selected.
