Deposit Accounts

Current Accounts

Convenient and simple, these accounts have been designed to help you manage the day-to-day finances of your business and to facilitate payments for goods and services.

In fact, our Current Accounts come with a free chequebook, as well as a MasterCard debit card, giving you the flexibility to make payments using the method of your choosing.  Standing Orders can also be set up to and from these accounts, and there are no charges on transactions made locally or any cheques issued.

Good to know!  Money in these accounts does not earn any interest.

Savings Accounts

Our Savings Accounts help you maximise the potential of your surplus finances.

How do they work?

• Interest on monies in our Savings Accounts is calculated on a daily basis taking into consideration cleared balances
• Withdrawals can be made on demand, at any of our branches or by debit card from any ATM displaying the MasterCard logo, giving you easy access to your cash whenever you need it
• You can make as many transactions as you like without incurring any charges
• You can use the account for money transmission services such as Direct Credits, Direct Debits, Standing Orders and Money Transfers locally and abroad.

Good to know!  A statement for your Savings Account will be issued every six months, with additional statements provided at an extra cost.  Interest is paid annually every November.

Term Deposit Accounts

If your business has a surplus of cash which you can put away for a while, then our Term Deposit Accounts are the best place to keep it.

How do they work?

• Term Deposit Accounts have very attractive interest rates, but should only be considered if the money you will be depositing will not be needed until the end of term
• Terms can range from one month up to a maximum of three years.

Good to know! Interest on terms of up to 12 months is normally paid on maturity, but can be paid monthly upon request, while those of over 12 months are normally paid annually.  These can be paid either by cheque or directly into the account of your choice, including a new Term Deposit Account.

Foreign Currency Accounts

Foreign Currency Accounts are accounts held in a currency other than euro. These can be in any of the major currencies, including US Dollar, Swiss Franc, Australian Dollar, Canadian Dollar and Sterling.

These accounts come in two different variants:

• As a Savings Account, which offers you instant access to your money
• Or as a Term Deposit Account, which can have a maturity of anywhere between three months to three years. The interest rate will be fixed for the duration of the term. Interest earned is paid on maturity for terms of up to one year, while those for a longer period are paid annually.

How do these accounts work?

• These are great for businesses receiving and making payments in foreign currency as they eliminate the need to convert currencies
• You will also receive regular statements at no extra charge to ensure that you keep on top of your finances.

Good to know! Our Foreign Currency Accounts come with a low minimum requirement and highly-competitive interest rates.