Business Bonus Savings Account

 Who can open a Business Bonus Savings Account?

 What information do I need to open an account?

Applying for one of our business savings accounts couldn't be easier. Before you call us to apply, make sure you have the following details handy:

• Your full name and date of birth
• Address
• Registered number and registered address (required for limited companies and charities)
• Type of business
• Sector classification (eg Limited, PLC etc)
• Industrial classification (eg pension fund, manufacturing, retail)
• Details of authorised person(s) (full name, date of birth, home address, business telephone number)
• Authorised person that correspondence should be sent to
• Designated bank/building society (including account name, address, account number, sort code)
• Initial deposit amount
• Details of any regular deposits you would like to set up (including the amount, frequency and date)
• What account any interest is to be paid in to
• How often interest should be paid (eg monthly or annually)
• Type of account you would like to open

 How do I make deposits or withdrawals?

Transacting on your account is straight-forward. When you want to transfer money in or out of your Business Bonus Savings Account, call us Mon-Fri on 08457 55 56 59 (call charges may vary) and we will ask you to confirm random numbers and letters from your PIN and telephone password before dealing with your request.

Alternatively you can register for Online Servicing and transact online at a time that suits you. Read more about Online Servicing.

Deposits and withdrawals will be made using your external business bank account (your designated account) and transactions normally take 3 full working days. If you're making a withdrawal, we'll pay interest right up until the day the money arrives in your designated account.

 Can I operate my account online?

Yes, you can view your details, make withdrawals and deposits, and move your money between your Standard Life Bank business savings accounts (except Bonds) online.
Read more about Online Servicing

 Is there a minimum deposit amount?

 Is there a minimum withdrawal amount?

 Can I save on a regular basis?

Yes. You can arrange for regular payments to be made from your Designated Account into your Business Bonus Account on a monthly, quarterly, half yearly or yearly basis.

Simply log in to Online Servicing or call our operators for further details. Alternatively, you can make a single deposit whenever you wish through our Online Servicing or by calling our operators on 08457 55 56 59 (call charges may vary).

 How will I know the rate of interest I am getting?

You will receive a leaflet detailing our current rates in your Welcome Pack. Any changes in our rates can be found in the savings rates section of our main Standard Life website.

We will also write to you within 30 days to inform you of any changes. You can, of course, call us on 08457 55 56 59 (call charges may vary) at any time and we will let you know what our current rates are.

 Can I change how my interest is paid?

Yes. Again, just phone us on 08457 55 56 59 (call charges may vary) and we'll sort it out. Interest is calculated on a daily basis and will be paid annually.

Interest payments can be:

• added to your account
• transferred to another account in your Plan
• transferred to your designated account

 Will I pay bank charges on my account?

There are no charges associated with the standard running of the account.

There will be a charge for audit requests, dishonoured cheques and failed direct debits.

See our tariff of charges for further information.

 When will I receive my statements?

We will send you statements annually, but you can request one at any time. If you register for Online Servicing you can also view your statements online.

We can issue you with a current statement whenever you wish but it must be issued to the first Authorised Person at your business address.

 Who can transact on a Plan?

Sole Traders and Limited Companies with one Director may choose to operate their accounts with a minimum of one and a maximum of three Authorised Persons.

Pension Scheme Trusts may operate their account with a minimum of two and a maximum of six Authorised Persons.

All other businesses may choose to operate with a minimum of two and a maximum of three Authorised Persons.

Once the Authorised Persons have registered their telephone PIN and passwords and all documentation has been received, they will be able to transact.

 Can I change my Authorised Person?

Yes, if you wish to add/remove any Authorised Person, all you need to do is contact one of our operators who will be happy to help. All new Authorised Persons (with the exception of Pension Scheme Trusts) are required to provide two forms of personal identification.

In addition, all Authorised Persons must choose their own telephone PIN and password. Only then can they transact on their account with us.

 Can I change my designated account?

For all other businesses, all you are required to do is arrange for two Authorised Persons to contact us and we will again send a new Direct Debit Instruction for completion.

 How will my savings be taxed?

 What happens if I lose or forget my telephone PIN or password?

Just pick up the phone and call us - we will arrange for a new PIN and password form to be sent to you to complete and return.

If you have lost or forgotten your internet User ID and password, just give us a call on 0845 609 0256.

 Are there any other savings accounts available?

Yes. As well as business savings accounts, Standard Life Bank offer Fixed Rate Savings Bonds for business customers from time to time.

Standard Life Bank is also able to offer personal savings accounts. For further information, have a look at our personal savings product information.

 What are Standard Life Bank's opening hours?

Our phone lines are open Mon-Fri: 8am-6pm.

You can transact online Mon-Sun 5am-2am.

 How do I open a Business Account?

Opening a business account is remarkably quick and simple. All you have to do is ring us on 08457 55 56 59 (call charges may vary) Monday to Friday 8am to 6pm.

We will take details and issue a Welcome Pack directly to your business address, for the attention of the first authorised person.

A telephone PIN and password letter will be issued to each Authorised Person at their home address. You then complete the necessary documents in the Welcome Pack and return them to us along with the information requested.

We will issue an opening balance statement direct to the business address upon receipt of your initial deposit.

 Is there a cancellation period?

 How do I get more information?

 The Facts

• Gross means the rate of interest paid without the deduction of tax, if applicable.
• AER means the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded each year.
• Net means the gross rate minus tax at the current rate.
• Business account holders must be resident (and in the case of a limited company, incorporated) in the UK at the time of opening an account.
• Withdrawals sent by electronic transfer via your external account will normally take 3 working days. In exceptional cases we may permit same day withdrawals but we will charge a fee for this, currently £28.