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Our Euro Account has been created to make the process of trading in Euros simple and convenient to manage. It’s available to your business if you have a Bank of Scotland sterling business account.
Apply by calling 0345 606 0286
Changes in the exchange rate may increase the sterling equivalent of your debt.
The information below applies to Euro Accounts opened on or after 24 September 2014
For information on the Currency Reference Rates please refer to our Currency Account Interest Reference Rate
The Credit Reference Rate is the rate currency accounts are linked to for credit interest and is set at 0.25% below Market Rate. The Debit Reference Rate is the rate currency accounts are linked to for debit interest and is set at 0.25% above Market Rate. The appropriate debit and credit margins are then applied.
For information on the Credit Interest Tiers please refer to our Currency Account Credit Interest Tiers
The Credit reference rate is the rate currency accounts are linked to for credit interest and is set at 0.25% below the market rate (if market rate falls below 0%, it will be treated as 0% until such time it exceeds 0%). The appropriate credit margin is then applied.
The information below applies to Euro Accounts opened on or after 12 September 2011.
For accounts opened before this date, please check with your Relationship Manager to find out the rates and charges that apply.
For details of what your currency account’s reference rate is linked to and where this is independently published, view our Foreign currency interest rate guide.
Overdrafts are subject to arrangement fees.
Credit interest (Euro Call Account)
Credit interest is linked to the Euro Overnight Index Average (EONIA® ) and tiered as follows:-
Interest rate bands
No interest paid
£3,000 to £19,999
£20,000 to £39,999
£40,000 to £79,999
£80,000 to £199,999
£200,000 to £399,999
£400,000 to £799,999
The EONIA rate can be obtained from a number of independent sources including the Financial Times.
Note: Should the relevant reference rate fall below the applicable interest rate band margins specified above no interest will be paid.
Exchange Rates (For use with Sterling equivalent Credit Interest Tiers)
Please visit our terms and conditions section to view all terms and conditions, charging and associated information.
For more information call 0345 606 0286.
If you are a new customer to Bank of Scotland you will need to open a Business Current Account with us in order to open a Euro Account.
All lending is subject to a satisfactory credit assessment and we will need your permission to carry out a credit check on you and your business.
You should not apply for an amount that you cannot comfortably afford to repay now and in the future to avoid the possibility of legal action.
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