The Bank of East Asia

Personal Banking

Call Deposit Account

A Call Deposit Account offers you the opportunity to earn interest. This type of account is especially useful if you have money to invest, but prefer to have instant access to your funds.


Summary Box - Key Product Information

Account Name

Call Deposit Account (GBP)

What is the interest rate?

 

Balance

Interest Rate

  £10 - £50,000

 0.25% AER/Gross

  £50,001 - £100,000

 0.30% AER/Gross

  Above £100,000

 0.35% AER/Gross

Interest is calculated daily and will be paid quarterly.

Can BEA change the interest rate?

Yes, the interest rate can go up or down e.g. in response to market conditions. If the rate goes down, we will give you two months' notice before the rate changes. Please refer to clause 10 of our General Terms and Conditions for more details.

What would the estimated balance be after 12 months based on a range of deposits?

 

Balance

Interest earned

Balance after 12 months

£1,000

£2.50

£1,002.50

£50,001

£150.00

£50,151.00

£100,001

£350.00

£100,351.00

 

 For the purpose of this calculation, it is assumed:

  • Initial deposit of £1,000, £50,001 and £100,001
  • No further deposits
  • No withdrawals
  • No change to the interest rate during the 12 months

The above projection is provided for illustrative purposes only and does not take into account individual circumstances.

How do I open and manage my account?

Eligibility:

Aged 16 or over

How to open the account:

You can open the account in branch.

Minimum/maximum balance:

  • The minimum opening sum and interest earning balance is GBP10. You must maintain this minimum balance throughout the term of the account.
  • There is no maximum balance.

How to manage the account:

You can manage the account in branch, via BEAUK Cyberbanking and Mobile Banking.

Can I withdraw money?

Yes, you have instant access to your account and withdrawal can be made in branch.

Additional information

  • You can transfer funds between your GBP account and other accounts with us without notice and at no charge.
  • If the transfer involves a change of currency, the exchange rate applicable will be our reference exchange rate at the time funds are transferred. Please refer to our General Terms and Conditions section 1.1 for definition on reference exchange rate.
  • If an account is closed within six months of the date on which it is opened, we will make a charge.  Please refer to our Bank Charges Leaflet for current fees.
  • If you are not happy about your choice of the account, you have the right to cancel it within 14 days of opening the account. In this case, we will return your money with any interest earned with no additional charges. If the account is in debit, you must repay any money and interest owed to us.
  • Please refer to Call Deposit Account- GBP Terms and Conditions for further information on this account.

Definitions:

  • AER stands for Annual Equivalent Rate. This shows you what the gross rate would be if interest were paid and compounded each year.
  • Gross is the rate payable without tax taken off.

Rates correct as at 26th October, 2018



For current interest rates, please click here, or refer to the variable interest rate leaflet available at your nearest BEA branch, or call 0808 180 3838.         

Summary Box - Key Product Information

Account Name

Call Deposit Account (Foreign Currency)

What is the interest rate?

 The account is available in foreign currencies including USD, HKD, EUR and CNY.

Currency 

Balance

Interest Rate

USD

$10-$50,000

0.652% AER / 0.65% Gross

$50,001-$100,000

0.752% AER / 0.75% Gross

Above $100,000

0.853% AER / 0.85% Gross

HKD

$100 or above

0.125% AER/Gross

EUR

€10 or above

0.125% AER/Gross

CNY

¥100 or above

0.25% AER/Gross 

Interest is calculated daily and will be paid quarterly.

Can BEA change the interest rate?

Yes, the interest rate can go up or down e.g. in response to market conditions. If the rate goes down, we will give you two months' notice before the rate changes. Please refer to clause 10 of our General Terms and Conditions for more details.

What would the estimated balance be after 12 months based on a USD2,000 deposit and HKD20,000 deposit?

USD

Balance

Interest earned

Balance after 12 months

$2,000

$13.04

$2,013.04








HKD

Balance

Interest earned

Balance after 12 months

$20,000

$25.01

$20,025.01



 

For the purpose of these calculations, it is assumed:

  • Initial deposit of USD2,000 and HKD20,000 respectively
  • No further deposits
  • No withdrawals
  • No change to the interest rate during the 12 months

The above projections are provided for illustrative purposes only and do not take into account individual circumstances.

 

How do I open and manage my account?

Eligibility:

Aged 18 or over

How to open the account:

You can open the account in branch.

Minimum/maximum balance:

  • The minimum opening sum and interest earning balance for respective currencies are USD10, EUR10, HKD100 or CNY100. You must maintain this minimum balance throughout the term of the account.
  • There is no maximum balance.

How to manage the account:

You can manage the account in branch, over the telephone, via BEAUK Cyberbanking and Mobile Banking.

Can I withdraw money?

  • Yes, you have instant access to your account and withdrawal can be made in branch.
  • You can withdraw foreign currency cash from this account at our branches with a handling charge. The handling charge will be deducted from your account at the time of the transaction. Please refer to our Bank Charge Leaflet for current fees.
  • You can withdraw sterling from this account at our branches free of charge. The exchange rate applicable will be our reference exchange rate at the time of your withdrawal. Please refer to our General Terms and Conditions section 1.1 for definition on reference exchange rate.

Additional information

  •  You can deposit foreign currency cash into this account at our branches with a handling charge. The handling charge will be deducted from the monies deposited before the account is credited. Please refer to our Bank Charge Leaflet for current fees.
  • You can deposit foreign cheque into this account at our branches for a collection charge. The collection charge will be deducted from your account at the time of processing. Please refer to our Bank Charge Leaflet for current fees.
  • You can deposit sterling to your foreign currency account at our branches free of charge. The exchange rate applicable will be our reference exchange rate at the time of your deposit. Please refer to our General Terms and Conditions section 1.1 for definition on reference exchange rate.
  • You can transfer funds between your GBP account and other accounts with us without notice and at no charge.
  • If the transfer involves a change of currency, the exchange rate applicable will be our reference exchange rate at the time funds are transferred. Please refer to our General Terms and Conditions section 1.1 for definition on reference exchange rate.
  • If an account is closed within six months of the date on which it is opened, we will make a charge.  Please refer to our Bank Charges Leaflet for current fees.
  • If you are not happy about your choice of the account, you have the right to cancel it within 14 days of opening the account. In this case, we will return your money with any interest earned with no additional charges. If the account is in debit, you must repay any money and interest owed to us.
  • Please refer to Call Deposit Account - Foreign Currency Terms and Conditions for further information on this account.

Definitions:

  • AER stands for Annual Equivalent Rate. This shows you what the gross rate would be if interest were paid and compounded each year.
  • Gross is the rate payable without tax taken off.

Rates correct as at 2nd Auguest, 2018

 For current interest rates, please click here, or refer to the variable interest rate leaflet available at your nearest BEA branch, or call 0808 180 3838. 

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