Summary of changes to terms and conditions

Unless we state otherwise the changes apply from 1 January 2019. Please share the information about these changes with the other business owners.

  • Upcoming changes in the law mean we are legally not allowed to lend to Relevant Financial Institutions (or ‘RFIs’). Because of this, we’ve updated our General Terms and Conditions and Key Facts Documents to require you to repay any Arranged and/or Unarranged Overdraft immediately if you are (or you become) an RFI. We can close your account immediately if you fail to do so. We’ve also added a requirement for you to notify us if you are, become, or intend to become an RFI.
  • We've made it clear in our General Terms and Conditions that if a limited liability partnership or a limited company is dissolved, you should stop using the account immediately and notify us.
  • We've updated our Key Facts Documents to clarify that if you make any changes to your statement date, your monthly billing period (for fees and charges which are pre-notified and deducted on a monthly basis) and the date on which your monthly cash deposit and transaction limits are reset (and your monthly account fee is deducted) (if applicable) will remain the same.
  • We've made some changes to our Key Facts Documents to make it clearer which fees are charged and deducted at the point of transaction and which are pre-notified and included in your monthly advice of charges.
  • We've updated our General Terms and Conditions and Key Facts Documents to make the charging structure for the Arranged Overdraft Annual Fee clearer, including clarifying that if we agree to a request to increase your Arranged Overdraft limit, we will treat this as a new Arranged Overdraft and you will have to pay another Annual Fee.
  • We've amended references to Faster Payments in our General Terms and Conditions to indicate that these payments will now be available immediately, rather than within 2 hours.
  • We've amended our General Terms and Conditions to delete references to how you can qualify for a Start-Up Business Current Account and promotional offers on it (as this information is covered elsewhere).

If you have any questions or there is anything you don't understand call us on 0800 731 6666, visit your local branch or visit our website at

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