Good to know
- You can pay into the account whenever you like
- Pay in or request a withdrawal using eBanking, our app, in branch or over the phone
- We’ll text you when your withdrawal is complete
Need to know
- This isn’t an instant access account, so you’ll need to give us 95 days’ notice for every withdrawal
- Maximum balance £250,000
- Transaction limits may apply depending on which method you choose to request a withdrawal
1. What is the interest rate?
|All credit balances||1.10%|
Interest is calculated on a daily basis on the cleared credit balance on your account and applied annually at the end of October.
2. Can Danske Bank change the interest rate?
- Yes, this rate is variable. We can decrease the credit interest rate for any of the reasons set out in the General Terms and Conditions - Personal Banking.
- We’ll give you 109 calendar days’ notice of any reductions to the credit interest rate (this is the equivalent to 14 days plus the 95 day notice period required for withdrawals). We’ll send you a reminder 14 days before the change takes effect. Where we hold an email address for you, we’ll send you this notice via email, otherwise we’ll send a letter.
- We may increase the credit interest rate payable on the account immediately. We will advise you of any increase in the credit interest rate on your next statement.
3. How do I manage my account?
- The maximum balance you can have in the account is £250,000, with the exception of credit interest.
- You can communicate with us and give us instructions by telephoning us, visiting one of our branches or by using eBanking (if you have registered for this service). Alternatively, you can write to us.
- Limits may apply to the method you choose to transfer funds into the account or provide notice for a withdrawal out of the account.
- You can request to have your annual interest paid to an alternative Danske Bank account which you hold.
4. How can I withdraw money from the account?
- Withdrawals can only be made by giving us 95 days’ notice. Where the 95th day does not fall on a business day, the withdrawal will be completed on the next business day. You cannot withdraw your funds earlier than this.
- All withdrawals must be by electronic transfer to another account. You cannot withdraw cash.
- You can provide notice to make a withdrawal in-branch by completing a withdrawal request form.
- You can also create a transfer to another account using eBanking or by telephone. Limits may apply.
- Where you provide us with a mobile telephone number, we will send you a text message confirming completion of your withdrawal at the end of the notice period.