Tariff of charges non-personal accounts
Free services
- Professional online banking service
- Sterling chequebook
- Sterling paying-in book
- Platinum Visa debit cards (Sterling, Euro, US Dollar)
We provide a number of additional services, for which a charge is payable. Charges are debited to your account, in the relevant currency, at the time the service is provided.
Where applicable, VAT will be charged on any taxable services provided.
Administration charge
| Corporate trading accounts (e.g. limited companies, partnerships, formed for the purpose of undertaking general commercial trading activities) |
Minimum £2,500 per account, per annum | ||
|---|---|---|---|
| Other non-personal accounts (e.g. trusts, pensions, investment companies, not undertaking general commercial trading activities) |
Minimum £250 per account, per annum | ||
The administration charge is payable quarterly in advance, on the first working day of January, April, July and October, and is non- refundable in the event of the closure of the account during the quarter.
Higher administration fees may be payable if a client relationship requires the bank to undertake additional due diligence work. Examples of such situations may include, but are not limited to, politically exposed persons, connections to high risk jurisdictions, multiple corporate structures and/or the nature of the activities undertaken by clients. Such fees typically include an initial take-on fee and/or ongoing administration charge, in addition to the fees outlined on this page. Any additional fees will be discussed and agreed with you in advance.
Transactional charges
| Direct debits | £1 per item |
|---|---|
| Standing orders | £1 per item |
| Cheque clearances | £1 per item |
| Domestic and international payments* | £1 per item |
| Inter-account transfer debits | £1 per item |
| Cheque deposits | £1 per item |
| Incoming credits | £1 per item |
Transactional charges will be charged for all corporate trading accounts. It should be noted that certain other non-personal accounts may also be charged the transactional fees subject to prior notification.
Transactional charges will be applied monthly in arrears and will be deducted from your Sterling account. The charge will be taken on the 15th day of the following calendar month (or the closest Business Day following).
*in addition to the standard payment charges listed below.
Payment charges
| Online payments* | Authorisation deadline** | Payment date | Charge |
|---|---|---|---|
| Sterling – £1 – £100,000 | 23:55 | Three-day value* | Free |
| Sterling – all amounts | 11:55 | Same-day value | £25 |
| Euros – all amounts | 11:55 | Same-day value | €35 |
| US Dollars – all amounts | 11:55 | Same-day value | $40 |
| Other currencies – all amounts | 11:55 | Two business days later | Available upon request |
| Payments instructed in writing | Payment date | Charge |
|---|---|---|
| Sending Sterling payments within the UK (all values) | Manual payments will be made after all necessary checks and authorisations are complete | £30 |
| Sending payments outside the UK (all values) | £30/€40/$45 |
Platinum Visa debit cards are issued free of charge. If you use your debit card to buy goods/services for cash withdrawals in a currency other than the currency of the card, the value of the payment will be converted by Visa at the prevailing exchange rate, plus a fee of 1.75%.
*All Sterling payments will be sent for same-day value, at a cost of £25, unless you expressly request a payment for three-day value – at input stage.
** All online payments must be authorised by the stated deadline in order to meet the stated payment date. Payments authorised after the deadline will be made the following business day.
Unauthorised borrowing charges
| Unarranged overdraft – Referral fee | £25 |
|---|---|
| Unarranged overdraft – Follow up letters | £25 per item |
| Arrears charge – If you miss a mortgage or loan payment – Referral fee | £25 |
| Arrears charge, as above – Follow up letters | £25 per item |
| Refusing a cheque, standing order or direct debit due to lack of funds | £25 per item |
| Unauthorised overdraft interest rate | 9% above the bank’s base rate* |
*see www.nedbankprivatewealth.com/information-for-clients/interest-rates for details of the bank’s base rate. Please also refer to the Mortgage Charges section below.
Cheque deposits and collections
| Clearance of currency cheques paid in (subject to varying clearance times) |
The correspondent bank upon which the cheque is drawn may deduct a charge. This will vary and is outside of our control. |
|---|
We may apply a courier charge of £30/€50/$50.
Issuing cheques on your behalf
| Sterling cheque | £15 |
|---|---|
| Euro cheque | €22 |
Please note, we do not issue cheques in other currencies.
Other fees and charges
| Cancelling a cheque (unless it has been stolen or lost)* | £15 |
|---|---|
| Special presentation of a cheque* | £25 |
| Issuing duplicate statements | £5 per sheet |
| Issuing duplicate or ad-hoc valuations | £25 per valuation |
| Provinding copies of paid cheques | £20 per cheque |
| Status enquiries | £25 |
| Audit reports | £50 for the first account, £20 for subsequent accounts, capped at £1000 |
| Language translations of documents | £50 per item |
| Delivery of Visa card or Visa PIN via courier (note, Visa PIN is available online, free of charge) | £30/€50/$50 |
| Returned mail charge | £25 per month |
*Please note, cheques become out of date six months after the date of issue.
Investment charges – Execution-only investment services
| Value | Charge | |
|---|---|---|
| Charge for custody holding and investment administration (based on the mid market value of any securities held, at the end of each quarter)* |
The first £1 – £249,999 | 0.25% per annum |
| The next £250,000 – £999,999 | 0.15% per annum | |
| Thereafter (£1,000,000 or more) | 0.10% per annum | |
| Minimum annual charge | £150 | |
| Dealing charge** | 0.50%, (minimum £50, maximum £100), per transaction | |
| Custody movement – UK and US securities** | £25 per transaction | |
| Custody movement – Other securities** | £40 per transaction | |
| Custody movement – Hedge funds** | £80 per transaction | |
| Brokerage charges/Stamp duty | Any market related charges will be passed on to you | |
| Annual income and trading report*** | £25 per copy*** |
*Payable quarterly in arrears.
** These charges will apply to any purchases, sales and transfers of securities to third parties.
*** Waived, if Nedbank Private Wealth manages the portfolio on your behalf under a discretionary mandate.
In addition to the above, from time to time certain transactions may involve fees being deducted by our overseas agents. We reserve the right to pass on any such charges levied. Details of charges for other services, not listed above, will be advised when the service is provided.
Mortgage charges
| Description | Charge | |
|---|---|---|
| Valuation fee | Cost of the valuation report which we will use to calculate how much we will lend to you. This cost will be charged to you. There are other homebuyer valuations and surveys available to you at an additional cost. | Variable |
| Legal fees | We will instruct a legal representative to act for us to complete the legal documentation for the mortgage. These fees will vary according to the nature of the transaction, and will be charged to you. | Variable |
| Changes to the mortgage | After you start the mortgage, you may wish to make changes which may incur a charge. | Variable |
| Arrears charge | Applicable each time you miss a contractual payment under the mortgage. | £25 |
| Solicitor’s costs in relation to arrears | If we take action to enforce the terms of the mortgage, you will be responsible for paying all the fees, including legal fees. The fees will depend on the type of action we have to take. | Variable |
| Redemption administration fee | To register a discharge at the Land Registry. | £60 |
| Unpaid ground rent service charge | Payable if we have to communicate with you and your landlord regarding outstanding ground rent or service charges, in order to protect the security on which the loan is based. | £50 |