Interest rates and charges
St. James's Place Bank no longer offers Current Accounts to new clients.
Our current interest rates
Item |
EAR* |
Gross/AER** |
Monthly interest Gross p.a |
---|---|---|---|
ItemCredit Balance |
EAR* |
Gross/AER**0.05% |
Monthly interest Gross p.a0.05% |
ItemArranged overdraft |
EAR*19.90% |
Gross/AER**18.29% |
Monthly interest Gross p.a18.29% |
All rates shown are variable
Representative example |
---|
Representative exampleThe interest rate for using an arranged overdraft limit of £1,200 is 19.90% EAR Variable.
|
How much does my overdraft cost in pounds and pence?
As an example, the interest cost of borrowing £500 is
7 days |
30 days |
60 days |
---|---|---|
7 days£1.75 |
30 days£7.52 |
60 days£15.14 |
You can use our calculator to work out how much your expected arranged overdraft borrowing would cost.
About arranged overdrafts
An arranged overdraft can be used as a short-term safety net. You can use it to borrow money for any unexpected bills or payments. The amount you can borrow is agreed with us in advance and you will only pay interest on your arranged overdraft balance if you use it.
About unarranged overdrafts
An unarranged overdraft is an overdraft that has not been agreed with us in advance. If you do not have enough money in your current account to make a payment, we may let you borrow through an unarranged overdraft or refuse to make the payment.
Missing payments and using an unarranged overdraft can damage your credit score, so please get in touch with us as we may be able to help. All overdrafts are subject to our assessment of your circumstances and are repayable in full on demand. You must be aged 18 or over to apply. If you are looking to borrow money, it is important to compare and choose the right options for you based on your circumstances.
No unarranged overdraft interest, fees or charges apply.
Fees and Charges
Item |
Charge |
When is the fee collected |
How often is the fee made |
---|---|---|---|
ItemCopy of paid cheque |
Charge£5.00 |
When is the fee collectedOn request |
How often is the fee madeOn request |
ItemCancelled cheque (except for lost or stolen cheques) |
Charge£7.50 |
When is the fee collectedOn request |
How often is the fee madeOn request |
ItemCHAPS payments from your facility to another UK account |
Charge£25.00 |
When is the fee collectedOn request |
How often is the fee madeOn request |
ItemDebit card withdrawal or payment in a foreign currency (excludes euro transactions in the UK or EEA) |
Charge2.25% plus £1.50 |
When is the fee collectedOn request |
How often is the fee madeOn request |
ItemDebit card payment in euro within the EEA or UK; Cash withdrawal of euro within the EEA or UK |
Charge2.25% |
When is the fee collectedOn request |
How often is the fee madeOn request |
Find out more about interest rates and charges (PDF, 3MB)
Fee Information Document (PDF, 170.5KB)
If you use your St. James's Place Bank debit card to make transactions in a foreign currency or in pounds when you are abroad, the amount of each transaction will be changed to pounds on the date we take it out of your current account facility. This may not be the same date that the transaction is carried out.
The exchange rate we will use will be the Visa payment scheme exchange rate. We will charge a foreign currency transaction fee of 2.25% of the amount of each foreign currency transaction, and for transactions in pounds outside the UK. This is a fee for currency conversion. We will also deduct a foreign currency cash or foreign currency purchase fee of £1.50 for each transaction.
To help you compare our debit card currency conversion charges with other providers you can find the percentage mark up over the European Central Bank rates here.
We won't charge a foreign currency cash fee if you use your debit card to:
- withdraw euro within the EEA or UK
- withdraw euro from outside the EEA or UK and the cash machine operator's payment service provider is based in the EEA or UK;
We won't charge a foreign currency purchase fee if you use your debit card to:
- make a payment in euro within the EEA or UK
- make a payment from outside the EEA or UK in euro, if the seller's payment service provider is based in the EEA or UK.
The exchange rate and the foreign currency purchase amount shown may be in a different currency than the one used in the country you made the transaction.
Your debit card enables you to withdraw up to £500 per day from any cash machine. If for medical or disability reasons you are unable to use the PIN provided for your debit card please get in touch.