Select Silver Account

Travel

5 Star Defaqto rated annual European travel insurance covers you all year round for trips up to 22 days – including winter sports holidays. Members and joint account holders aged 70 years and over must pay an annual premium of £50.

For insurance benefit terms and conditions view the Select Silver Account Insurance Policy Summaries (includes Keyfacts about our insurance services) (171KB PDF)

Protection

Cover for your mobile phone – including iPhone – up to £750. Two phones can be covered if you have a joint account.

Identity theft assistance helps you beat the fraudsters and gives you support if your personal details have been used fraudulently.

Leisure

Download music tracks from hmvdigital and order DVD rentals from LOVEFiLM. Choose from the latest releases and all your old favourites.

Select Silver Account benefits are worth up to £462 a year for just £8 a month.

• All the Select Silver Account benefits
• How we worked out your savings
• Apply online for a Select Silver Account

Want even more?

Our Royalties Gold account adds even more benefits, like home emergency cover and worldwide multi-trip annual travel insurance. Monthly fee £12.95.

• 5 star Defaqto rated cover.
• Gives you up to 22 days cover for each trip – including winter sports.
• £10 million medical expenses cover.
• Includes you and your partner when you have a joint account.

Members and joint account holders aged 70 years and over must pay an annual premium of £50 for travel insurance. If you have an existing medical condition you may have to pay an annual premium or accept your cover may exclude certain conditions.

• Covers all mobile phones – including iPhone.
• Protect up to two phones if you have a joint account.
• Up to £750 replacement value per phone – If your phone is worth more than £750, you’ll only be covered up to £750.
• Covers loss, theft, accidental damage and breakdown – including water, liquid and malicious damage and electrical or mechanical fault.
• Unauthorised calls cover – up to £1,000 for monthly contracts and up to £100 for pay as you go.

Cover commences 14 days after registration.

Identity theft can be expensive – it can also cause months of hassle. As a Select Silver Account customer, we’ll help you beat the identity thieves and give you the support you’ll need if the worst should happen.

• Credit report – check your credit status and receive alerts from Experian if anyone is using your personal details.
• Personal support – if you fall victim to identity theft, a dedicated caseworker will help defend and restore your credit status.
• CIFAS registration – alerts you if your details are used on a credit application.
• Valuable document registration – keep important personal information such as your passport details, in a secure, accessible place.

You need to register for credit report and valuable document registration. For joint accounts both parties must register to use this benefit.

• Lets you find, download and enjoy the music you love, the moment it’s released on MP3 format.
• Download up to five tracks each month to your computer that are compatible with most music devices and mobile phones.
• Choose from over 13 million tracks from your favourite artists – from rock and pop to classics and jazz.
• New releases included.
• Secure back up of all your music downloads – so if you lose your music files you can download them again free of charge.

Select three DVD's to rent each month (we'll send them to you one at a time) and up to two hours of online viewing each month.

• Delivery straight to your home – and no delivery or return costs to pay.
• Choose from over 70,000 DVD, Blu-Ray and TV titles, including new releases and old favourites.
• Includes all genres – action, adventure, comedy, children’s and lots more.
• 1000’s of films and TV shows streamed to your computer, TV or PS3.
• Online access is required.

With a Select Silver Account, it’s easy to manage your money – wherever you are.

• Preferential rates on Travel Money – special rates on your foreign banknotes and travellers cheques delivered to your home (or local branch) at no extra charge.
• 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.
• 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.
• 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.

If you’re upgrading to Select Silver Account from our Basic Account you may not be eligible for an overdraft or cheque book.

From time to time we will have Banking Offers for Select Silver Account customers. These could include:

• Car and home insurance – save money on your first year’s premium.

• Current Accounts - Helping you get more from everyday banking (469Kb 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 (171KB PDF)

• Select Silver Account Insurance Policy Summaries (includes Keyfacts about our insurance services) (463KB PDF)

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).

Account holding includes access to all the benefits listed in the appropriate brochures and user guides.

Application of account fees

The monthly account fees will be applied 16 days after the end of the charging period (or on the next business day if this is a Saturday, Sunday or Bank Holiday) and will appear on your account statement as “CHG”. The charging period normally ends on the date that we send your statement to you.

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

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

Current rates

The following rates are effective from 04 July 2011.

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

Representative Example:
Overdraft limit: £1,200
Arrangement Fee: £0
Interest Rates 19.89% p.a. (variable)

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).

A monthly account fee of £8 for Select Silver Account is payable. The monthly account fee will be applied 16 days after the end of the charging period (or on the next business day if this is a Saturday, Sunday or Bank Holiday) and will appear on your account statement as “CHG”. The charging period normally ends on the date that we send your statement to you.

Conditions apply to benefits. Full details of all the Select Silver Account benefits are contained in the User Guide you will receive after you open your account.

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.

Select Silver Account Guarantee

If you opened your Select Silver Account on or after 4 July 2011, you are eligible to benefit from our Select Silver Account Guarantee.

If you use any of the Select Silver Account benefits within 60 days of your account being opened and are not satisfied within that 60 day period, we will refund all account fees you have paid for your Select Silver Account in the first 60 days of account opening.

We may change or withdraw the Select Silver Account Guarantee at any time without giving you prior notice.

To claim a refund please call our freephone helpline 0800 408 0338 Minicom number 0845 600 0512.

Lines are open 8am to 8pm Monday to Friday and 9am to 6pm Saturdays. Calls may be recorded.

European travel insurance

RBS travel insurance is underwritten by UK Insurance Limited (UKI) who are authorised and regulated by the Financial Services Authority. Registered No. 1179980. UKI is a Royal Bank of Scotland Group Company.

Mobile phone insurance

This cover has been arranged for RBS by Homecare Insurance Limited, Holgate Park, York YO26 4GA. Registered in England No. 2793290. A member of the CPP Group of companies and trading under the CPP trademark.

LOVEFiLM DVD Rentals

This service is provided by LOVEFiLM UK Limited, No. 9, 6 Portal Way, London W3 6RU. Registered in England and Wales No 6528297.

This benefit has been arranged for RBS by Syncredible Agency Limited. Registered office: 26-28 Hammersmith Grove, London W6 7BA. Registered in England and Wales No. 04631831.

hmvdigital Downloads

This service is provided by 7digital Limited. Registered office: Unit F, Lower Ground Floor, 5-25 Scrutton Street, Zetland House, London EC2A 4HJ. Registered in England and Wales No. 04843573.

This benefit has been arranged for RBS by Syncredible Agency Limited. Registered office: 26-28 Hammersmith Grove, London W6 7BA. Registered in England and Wales No. 04631831.

Identity Theft Assistance

This benefit has been arranged for RBS by Card Protection Plan Limited, Holgate Park, York, YO26 4GA. Registered in England No 1490503.

• 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)
• Select Silver Account Insurance Policy Summaries (includes Keyfacts about our insurance services) (PDF)

Please also read our website terms and conditions which cover your use of this website.

The Royal Bank of Scotland plc.
Registered Office: 36 St. Andrew Square, Edinburgh EH2 2YB
Registered in Scotland No. 90312.