At Seal Bank we have experience in providing clients like yours with tailored accounts for limited companies, partnerships and contractors. Our business Reserve Account offers banking facilities in Sterling, Euro and US Dollar, plus we offer a range of simple options for funds that can be deposited for longer terms for higher rates of interest.
Our sterling Term Deposit Accounts for non-personal customers are designed to provide business clients with a fixed interest rate on funds of $50,000 or over that can be deposited for an agreed term of between 3 months and 36 months with an interest rate which is fixed on the day of deposit.
Please note that no withdrawals/closures are permitted during the fixed term. However, should there be extenuating circumstances, early withdrawal/closure will be considered, at the complete discretion of Seal Bank. In these instances your account will only be credited with the capital. In the event of the death of the holder of the account, the capital will be repaid with interest earned to date.
Reserve Account
A current account for businesses that is available to be held in Sterling, Euro or US Dollars with instant transfers between linked accounts and allowing up to 30 day-to-day transactions* per calendar month without incurring a transaction fee. The minimum opening balance is $5,000. If the account balance falls below the $5,000 minimum required, a charge of $15 will be applicable in each calendar month that the balance is below the minimum. No interest is paid on balances below $100,000.
* Day to day transactions on this account are: cheque withdrawals; cash machine withdrawals, cash withdrawals over the counter; Visa Deferred-Debit Card purchases including recurring transactions; Standing Orders; Direct Debits; bill payments and electronic payments.