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- Business Notice Accounts
Business savings at a glance:
⬗ Save from $50,000 to $5 million per account
⬗ Interest is calculated daily and paid twice a year
⬗ Add to your deposit at any time up to the maximum balance of $5 million
⬗ One account per depositor permitted
⬗ Available to registered companies, institutions and registered charities
⬗ Local authorities, trusts, individual and pension deposits (SIPP/SSAS) are not eligible
⬗ A minimum balance of $50,000 must be maintained at all times
How does the BNA work?
Our Business Notice Account is based on a standard notice account, offering 12 months notice. On the day we receive instruction telling us that you would like to withdraw funds from the Business Notice Account, the relevant sum will be transferred out of the Business Notice Account and placed on a 12 month fixed term deposit account at the prevailing deposit rate for a 12 month fixed term time period (a period which is equal to the Business Notice Account notice period). See the rates table above. The remaining balance will continue to receive interest at the Business Notice Account rate, providing the balance remains at, or above $50,000.
1. Managed rate refers to a rate that we can change at any time. Such changes may be made without
notice if the change is favourable to you. However, we must give you at least 2 months written notice
of any reduction in rate.
2. The interest rate is fixed for the term of the account. No early access is permitted.
3. Interest rates paid on the fixed term deposits (for funds placed on notice) are reviewed weekly on a Monday.
Your account is automatically protected by;
Deluxe Provent ID Theft/Fraud Protection.
This service includes:
➧ Access to dedicated, certified Resolution
Specialists
➧ Convenient 24/7 access to secure storage
of your wallet contents
➧ Assistance if you lose your wallet,
experience fraud, or your identity has been
compromised
➧ Help to recover your identity to pre-theft
status
➧ Access to a one-time scan of your name
and address
➧ Monthly email fraud reports
Business Notice Accounts
