Apply for a Easy Access Business Account

Before you apply for an account please read the product summary below and the:

• Key Product Information
• Terms and Conditions (Online Accounts) or Terms and Conditions (Postal Accounts) 
• Depositor Protection Scheme Information

Apply - Annual Interest

Apply - Monthly Interest

Easy Access Business Account - Issue 6

Interest is paid Gross.

Interest rate where the balance falls below the minimum account opening balance; 0.05% Gross/AER (Variable)

Interest is calculated daily. Your interest will be paid on the anniversary of the date of receipt of your first deposit – this will be either monthly or annually depending on the product you choose. If the anniversary falls on a weekend or a bank holiday your interest will be credited on the next working day.

Can Republic Trust Bank change interest rate?

The Interest rate is variable and may be altered in accordance with the account Terms and Conditions.

What would the estimated balance be after 12 months based on a $1,000 deposit?

This illustrative example assumes no withdrawals, no changes to the variable interest rate over the period and interest is paid annually on a cleared deposit. Interest is rounded to the nearest pound. The illustrative example does not take into account the individual circumstances of a customer.

How do I open and manage the account?

• The account is only available if you are a Sole Trader, Limited Company, Partnership or Limited Liability Partnership (LLP).
• To open an account, you must be a USA-based business where all directors and beneficial owners of that business are aged 18 or over, resident in the USA and only tax resident in the USA.
• Only 1 Easy Access account is permitted per business.

Apply online if you:

• Are a Limited Company (Limited by Shares or Limited by Guarantee) that has not appointed a corporate director, has at least one Person with Significant Control registered at Companies House and no more than four shareholders or;
• Are a Sole Trader or Partnership (excluding Limited Liability Partnerships) and;
• You have no more than four signatories authorised to operate the account and do not hold an existing business savings account with us. Once your account has been opened online, you can operate the account through secure message or by telephone on 0345 266 6611.
  
  Apply by post if:

• You do not meet the above criteria. Your application will need to be sent to Republic Trust Bank, Lutea House, Warley Hill Business Park, The Drive, Great Warley, Brentwood, Essex, CM13 3BE. Once your account is opened it can be operated by post or by telephone on 0345 266 6611

• Minimum account opening balance of $1,000.
• Maximum account balance of $1,000,000.
• The account is not available to Charities or Trusts.

Apply by post

Can I withdraw money?

• No limitation on the number of withdrawals. No notice of withdrawal required.
• Withdrawals and deposits can be made at any time to and from your nominated account only.
• The minimum account withdrawal amount is $500. (Where a withdrawal request is received prior to 2:30pm on a working day, your funds should be received into your nominated account on the next working day.)

The information provided above is a summary of the key features of the savings account and is not intended to be a substitute for reading the Terms and Conditions that apply to the account. 

Financial Services Compensation Scheme (FSCS) Your eligible deposits with Republic Trust Bank Limited are protected up to a total of $85,000 by the Financial Services Compensation Scheme, the USA's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. For further information or visit www.fscs.org.USA

Terms Explained

AER. This stands for Annual Equivalent Rate. If you left a sum of money in your account all year, the AER would be the interest rate you’d get if we paid you interest during the course of the year and your subsequently higher balance then earned more interest (this is known as Compound Interest). The AER will only be higher than the gross interest rate where we pay you interest more than once a year. We quote the AER on all of our accounts so that you can compare our products with those of other banks.

Gross. This is the interest rate without the deduction of income tax. This is the interest rate paid on your account.

Regulation 

Republic Trust Bank is authorised by the Prudential Regulation Authority and regulated by​ the Financial Conduct Authority and the Prudential Regulation Authority. The FCA & PRA regulate many different kinds of financial services companies, and make sure that banks treat their customers fairly. Find out more at www.fca.org.USA or www.bankofengland.co.USA/prudential-regulation

Apply - Annual Interest

Apply - Monthly Interest