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Existing customers
Help and guides
Rates and charges
Useful information
Select Account
All the essentials to make everyday banking easy for you
- No monthly account fees
- Visa debit card use it in stores and online
- Overdraft (subject to eligibility)
- Online banking and UK only call centres
- Fraud alerts
Before you apply for this account please ensure you have read the product information and fully understand the rates and charges associated with this account.
- Visa debit card lets you make purchases and withdraw money from any cash machine in the UK and overseas. Fees and charges apply to overseas withdrawals.
- Overdraft (subject to eligibility) - extra breathing space for your finances.
- Fraud alerts well call you if we identify unusual activity on your account.
- Standing orders and Direct Debits and a cheque book, making it easy for you to pay your bills.
- Monthly statements check them online or receive a paper copy.
- Digital banking
Our digital banking service helps you:
- Stay in control - digital banking makes looking after your money even easier.
- Bank when it suits you - day and night. Digital banking may be unavailable for short periods in the early hours of the morning.
- Transfer money - make instant transfers to any RBS account - and transfer money to any other UK bank account.
- Pay bills - you need to keep enough money in your account to cover any standing orders or Direct Debits or there may be charges.
- Manage your account - check balances and statements, searching through up to seven years of transactions.
- Stay safe - with free security software, card readers and secure servers, we're working hard to beat the fraudsters RBS digital banking.
- Telephone banking
Our UK based telephone banking call centres are always open - so you can talk to us whenever you like, day or night. You only pay for the cost of the call.
- 24 hour service - use it whenever you need
- Use our automated service - or talk directly to a customer service officer.
- Get real-time balances - and up-to-the-minute statements.
- Make instant transfers - pay bills, make payments and manage standing orders.
- Branch banking
With over 650 branches, we make it easy to stay close to your finances. You can pay in cash and cheques and make withdrawals at any RBS branch.
- Mobile phone banking
Our free mobile phone banking service keeps you up to date with your finances when you're out and about.
- Balance updates - we'll send your account balance to your mobile phone once a week.
- Limit alerts - we'll let you know when your account hits upper or lower limits set by you.
- Quick statements - we'll send you a free text with an up-to-the-minute account balance and mini statement (available on most modern phones).
Network charges may apply.
- Emergency cash if you lose your debit card you could withdraw up to £300 from any RBS, NatWest or Ulster Bank cash machine, if you have enough money in your account.You need to be an online or telephone banking customer to withdraw up to £300. If not you can withdraw up to £60 only. You must have at least £25 in your account to use this service.
- Worldwide acceptance - you can use your Visa debit card at 29 million retailers around the world, wherever you see the Visa logo.
- Always open you can call our UK based telephone banking team 24 hours a day, seven days a week.
- Pay bills set up standing orders and Direct Debits.
- Monthly statements check them online or receive a paper copy.
- Mobile phone top-ups at RBS cash machines.
- Cheque book for added payment flexibility.
- Our commitment to you we are committed to making banking easy. More on our commitment to you.
Switching to RBS is easy and free of charge. Our dedicated switching team will make the majority of arrangements for you and will be on hand to answer any questions you may have. With our switching guarantee you can be assured your transfer is in the best hands.
Before you apply for this account please ensure you have read the product information and fully understand the rates and charges associated with this account.
- Download a copy of Current Accounts - Helping you get more from everyday banking (1.1MB PDF)
- RBS Personal & Private Current Account Terms; Personal & Private Current Account Fees & Interest Rates; Helping you get the most from your Personal & Private RBS Current Account (629KB PDF)
Common definitions
Throughout this page, you'll see various terms being used. Here's what they mean:
- Annual Equivalent Rate (AER) - this is a notional rate used for interest bearing accounts which illustrates what the gross credit interest rate (excluding any bonus interest payable) would be if paid and compounded on an annual basis. It helps you to compare the effective rates of credit interest on different accounts.
- Effective Annual Rate of Interest (EAR) - this is the real annual cost of an overdraft, stated as an annual rate, which takes into account how often interest is charged to the account. All other charges, such as arrangement fees, must be shown separately from the EAR.
- Gross Rate - this means the interest rate you are paid before the deduction of income tax.
- Net Rate - this means the interest rate you are paid after the deduction of income tax.
- Nominal Rate - the rate charged excluding compounding of interest and other charges associated with a borrowing, e.g. arrangement and security fees.
- p.a. - per annum (per year).
Interest Rates
Interest we pay you
The annual rates of interest paid on credit balances are as follows:
The following rates are effective from 04/07/11
| Gross Rate % | AER % | Net rate % |
|---|---|---|
| 0.00 | 0.00 | 0.00 |
Calculation and application of interest
Interest is calculated on a daily basis and paid into your account once a month, usually the day after we send your statement to you.
Interest due on Arranged Overdrafts
Arranged Overdrafts
If you have arranged an overdraft facility with us in advance and you use this facility within the thresholds shown below, you will not pay any interest. If the amount you overdraw under an arranged overdraft facility exceeds these thresholds, you will pay interest at the rates shown in the tables below on the overdrawn balance please note that this includes the part of the balance which is within any interest free threshold that applies to your account.
Interest free thresholds
| Type of current account | Interest free threshold |
|---|---|
| Select Account | £100 |
Current rates
The following rates are effective from 04 July 2011
| Type of current account | Nominal monthly rate % | Nominal annual rate % | EAR % |
|---|---|---|---|
| Select Account | 1.52 | 18.28 | 19.89 |
Representative Example:
Overdraft limit: £1,200
Arrangement Fee: £0
Interest Rates 19.89% p.a. (variable)
However, we will not charge interest on any part of the overdrawn balance which is an unarranged overdraft or represents fees, charges or costs of the kind described below under the heading Sums which do not bear interest.
Calculation and application of interest
Interest on arranged overdrafts is calculated on a daily basis and charged monthly. The interest we charge in each charging period will be debited from your account 16 days after the end of that charging period (or on the next business day if this is a Saturday, Sunday or Bank Holiday). The charging period normally ends on the date that we issue your statement to you. If we are going to debit interest from your account, we will give you not less than 14 days notice of how much we are going to debit and when.
Sums which do not bear interest
We do not charge interest on unarranged overdrafts. Nor do we charge interest on any part of an arranged overdraft which represents:
- A Default Notice Fee or other sum (apart from interest) you must pay us in connection with a breach of your obligations under your agreement with us; or
A Returned Item Fee or Unarranged Overdraft Fee. See our leaflet RBS Personal & Private Current Account Terms; Personal & Private Current Account Fees & Interest Rates; Helping you get the most from your Personal & Private RBS Current Account (PDF) for details of these charges.
Arranged Overdrafts, Unarranged Overdrafts, Returned Items and Enforcement Charges
| Arranged Overdrafts | |
|---|---|
| Arranged overdrafts less than £15,000 - arrangement or renewal fee | FREE |
| Arranged overdrafts of £15,000 or more - arrangement fee - annual renewal fee | 2% of amount 1% of amount |
Representative Example:
Overdraft limit: £1,200
Arrangement Fee: £0
Interest Rates 19.89% p.a. (variable)
Act Now Alerts
Our Act Now Alerts can help you stay in control and minimise or even avoid fees for unarranged overdrafts and returned items. They specify the time by which you should credit your account with cleared funds to cover all payments and/or to bring your account back into credit. Find out more about Act Now Alerts.
If we are going to charge you an Unarranged Overdraft Fee and/or a Returned Item Fee, we will give you not less than 14 days’ notice of how much we are going to charge you and when.
Unarranged Overdraft Fee
An Unarranged Overdraft Fee will be charged for each day on which there is an unarranged overdraft of greater than £6 on your account at close of business on that day.
Please note: we will only charge an Unarranged Overdraft Fee for a non-business day (i.e. a Saturday, Sunday or Bank Holiday) if there is an unarranged overdraft of greater than £6 owing on your account at close of business on the first following business day.
When charged
16 days after the end of the charging period (or the next business day if this is a Saturday, Sunday or Bank Holiday). The charging period normally ends on the date that we issue your statement to you.
Fee Amount
£6 for each day for which an Unarranged Overdraft Fee is payable
Returned Item Fee
A Returned Item Fee will be charged if:
- you informally request an unarranged overdraft by issuing instructions for a withdrawal or other payment; and
- the payment cannot be met from the funds in your account or any unused arranged overdraft facility; and
- we decide in our discretion not to make the payment.
When charged
16 days after the end of the charging period in which we decide not to make the payment (or the next business day if this is a Saturday, Sunday or Bank Holiday). The charging period normally ends on the date that we issue your statement to you.
Fee amount
£6 for each returned item (subject to a maximum of £60 in any charging period).
Making an informal request for an unarranged overdraft means you will normally have to pay a Returned Item Fee and/or an Unarranged Overdraft Fee. Please note that it is possible to incur both a Returned Item Fee and an Unarranged Overdraft Fee on your account on the same day or as a result of a single transaction (for example, where we take a Returned Item Fee from your account and this creates an unarranged overdraft of greater than £6 on your account). For examples showing how our charges work, please see the section headed Unarranged Overdrafts and returned items in our leaflet RBS Personal & Private Current Account Terms; Personal & Private Current Account Fees & Interest Rates; Helping you get the most from your Personal & Private RBS Current Account (PDF).
Enforcement Charges
| Enforcement | ||
|---|---|---|
| A Default Notice Fee will be payable if we need to serve a default notice on you (for example, if you fail to repay your overdraft on demand or we wish to enforce any security we hold). This is in addition to any other charges that may apply. | Within four days of the Default Notice being served. | £30 per notice |
Before you apply for this account please ensure you have read the product information and fully understand the rates and charges associated with this account.
Important Information
New customers will be asked to provide proof of identity, verification of address and signature.
System updates will mean that our Internet and telephone banking services are unavailable for short periods in the early hours of the morning.
Credit facilities
Over 18s only.
The Royal Bank of Scotland plc.
Registered Office: 36 St. Andrew Square, Edinburgh EH2 2YB
Registered in Scotland No. 90312.
- Download a copy of Current Accounts - Helping you get more from everyday banking (PDF)
- RBS Personal & Private Current Account Terms; Personal & Private Current Account Fees & Interest Rates; Helping you get the most from your Personal & Private RBS Current Account (PDF)
- Please also read our website terms and conditions which cover your use of this website
Want more from your current account?
Our Select Silver Account and Royalties Gold account offer additional benefits and savings on travel insurance, mobile phone cover and more. Select Silver Account has a monthly fee of £8. Royalties Gold has a monthly fee of £12.95.
