Pooling for business savers

Within your savings plan you can open up to 99 separately named accounts for different purposes, such as VAT, staff bonuses or supplier payments.

As long as all these accounts have the same notice period (direct access, 10 day notice or 60 day notice) you can 'pool' the sums in each of these separate accounts and earn a higher interest rate on all the money in your plan.

Pooling effectively takes advantage of our tiered interest rates. By linking your accounts your savings will earn the interest rate that applies to the total sum held within your plan.

For more information call us on 08457 55 56 59.
Call charges may vary.

The Facts

• Pooling is not available on premium accounts or bonds.
• 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.
• For 10 Day Notice accounts for business savers, we will charge a penalty equal to 10 days' gross interest on the amount withdrawn if you do not give us 10 clear days' notice of withdrawal.
• An Excess Telephone Charge of £50 will be charged if you make more than three withdrawals by telephone in any year on a Premium 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.
• For Bonds, Standard Life Bank reserves the right to decline the Bond application if funds are not received within 14 days of the initial telephone call.
• No withdrawals will be allowed during the term of the Bond, apart from interest which must be transferred out of the Bond on payment.
• Minimum deposit £1, except for Bonds, for which it is £1,000.
• For all accounts, you can choose whether interest is to be paid monthly or yearly.
• Standard Life Bank savings accounts are covered by the Financial Services Compensation Scheme