Where can I find out more about your fees and pricing?
Pricing and fees are all governed by
Scheme Rule 8.
How much does a subcontract account cost?
Each subcontract account is charged for in the same way - as long as the base rate is 3.75% or more, there are no fees on the account (save that where the account has been open for more than two months and the balance is less than £5,000, a £20/mth +VAT fee is charged).
If the base rate is less than 3.75%, the flat fee of £20/mth +VAT is charged.
What happens if the base rate drops below zero?
While this has never happened in the UK, following the last global economic crisis, some Eurozone countries imposed negative interest rates.
Scheme Rule 8.5 deals with this.
In essence, we continue to charge the fees we had been charging while the base rate was less than 3.75%, plus whatever the negative interest rate is, which we pass on without surcharge.
