Treasury Reserve Deposit Account
Fixed returns on your surplus currency
Lock your surplus foreign currency into a higher, fixed rate of interest over an agreed period, so you can accurately forecast your returns and improve your cash flow management.
- Attractive rates of interest – linked to money market rates
- Flexible terms - ranging from overnight to 1 year for most currencies
- Overnight facilities – for larger deposits
- No maximum – no upper limit on your deposit but there are lower limits
- Easy to set up – arrange by telephone on any working day
- Convenient – operates alongside an existing currency account
Minimum deposit
The terms and minimum amounts you may deposit are based on the following Sterling equivalents:
Overnight - 6 days: £250,000
7 days - 1 year: £55,000
Currency equivalents of the Sterling amounts will vary depending on the exchange rate at the time.
Fixed term accounts
The Treasury Reserve Deposit Account should only be used if you are sure that you can tie funds up for the fixed period, otherwise penalties may apply. In addition, two working days' notice is normally required to release funds before maturity date. If you require instant access, you may want to consider a Business Currency Reserve Account.
Account opening
Non customers have to complete all the account opening formalities as for a sterling account before a currency account can be opened. Existing customers must maintain a currency account before a currency fixed deposit account can be opened.