Business 100

• £1-£250,000 2.15% AER*.
• £250,000.01+ 0.00% AER*.
• We calculate the interest daily and pay it annually on 31^st December. Interest will be added to your account.
• You do not earn any interest on money in the account over £250,000. You cannot have more than £1,500,000 in your account.
• *AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and compounded once each year. The gross rate is the interest rate payable before tax.

• The interest rate is variable, so it can go up or down at any time.
• For more details about why we might change the rate, you should read our Savings Terms & Conditions.

          £1,021.50

• This would be the balance after 12 months if £1,000 was paid in, all interest was paid back into the account, there was no change to the interest rate and no money was taken out or paid in.
• This is just an example to help you compare accounts. It does not take into account what you may do with the money in your account.

• You must be a UK resident for tax purposes to open this account. You can open it with as little as £1.
• You need to complete a Business Savings Account application form to open the account. These can be found on our website, in Branch, or by contacting our customer service team at savings@bibs.co.uk
• You will need to give us details and identification documents for all signatories and people with significant control
• For incorporated businesses, you must give us a copy of the Certificate of Incorporation.
• For partnerships where there are more partners than named signatories on the account, we will need a letter telling us how many signatories are needed to operate the account. The letter must be signed by a partner who is not one of the named signatories.
• You can deposit a maximum of 5 times a month. You cannot deposit more than £5,000 in cash or 5 cheques in each transaction.
• You can manage the accounts you hold with us through Bath Online, or by using our Mobile App. You can register for Bath Online on our website, and you can register for the Mobile App on your smartphone.
• You can ask for a passbook to be sent to you. You will need this if you want to withdraw or deposit money in our Branches.
• Account holder identification will be required. This is usually obtained through our electronic identity verification service. However, if this proves inconclusive, here’s some popular ways to verify your ID.

• This is a restricted access account. If you let us know 100 days before you want to take your money, we will not charge your account.
• The charge is the same as 100 days’ interest on the money you withdraw from your account. If your money has not earned enough interest yet, we will take the charge from your balance at the end of the year.
• You can withdraw a maximum of twice each month.
• You can withdraw cash whenever you wish in a Branch, but we will charge your account if you do not let us know 100 days before you need it. You have the option of withdrawing up to a maximum of £500 without telling us first, but you will be charged 100 days’ interest if you do this. Or if you tell us first, you can withdraw up to £2,000.
• You can withdraw by cheque from our Branches, but we will charge your account if you do not let us know 100 days before you need it. There is no limit to how much you can withdraw.
• You can also ask us to make an electronic payment to your nominated account, but we will charge your account if you do not let us know 100 days before you need it. This can be done on Bath Online, through the Mobile App, in a Branch, or you can contact our customer service team.
• You can only have one nominated account. You should choose the best account for your money to be paid in to.

• This account is protected by the Financial Services Compensation Scheme (FSCS). You should read your FSCS Information and Exclusions sheet for more information about how your money is protected.
• This account is a savings account, not a payment account. It is not intended for making day-to-day transactions.
• You should read your Savings Terms & Conditions to fully understand how your account works.
• We can close an account at any time if you do not use the account as intended, or if you act inappropriately, such as abusive behaviour.