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Fee Information
We are committed to fair, transparent pricing. Below is a detailed overview of the fees for our business banking services, including account maintenance, transactions, and international payments.
SME Business Banking | Corporate Banking |
Maintenance Services | ||
Account Maintenance Fee | Free | Free |
Onboarding Fees (One-off Payment) | Free - for digital onboarding eligible company £100 (Non-refundable) for non digital onboarding eligible company | Free - for digital onboarding eligible company £200 (Non-refundable) for non digital onboarding eligible company |
Payment Services | ||
Faster Payment | Inbound - FREE Outbound - FREE | Inbound - FREE Outbound - FREE |
CHAPS Payment | Inbound - FREE Outbound - £15 | Inbound - FREE Outbound - £15 |
SEPA Payment | Inbound - FREE Outbound - £0.20 | Inbound - FREE Outbound - £0.20 |
International Payment - Same Currency (SWIFT) | Inbound - FREE Outbound - £15 | Inbound - FREE Outbound - £15 |
International Payment with Currency Conversion (Outbound) | £15 per transaction (Payment amount below £2,500 or equivalent) FREE (Payment amount from £2,500 or equivalent) | £15 per transaction (Payment amount below £2,500 or equivalent) FREE (Payment amount from £2,500 or equivalent) |
Note: If the payment is in currency other than GBP, it will be charged in GBP rate. | ||
BACS - Direct Debit (Outbound) | £0.10 per transaction | £0.10 per transaction |
BACS - Direct Credit (Inbound) | £0.10 per transaction | £0.10 per transaction |
Overdrafts | ||
Unauthorised Overdraftsinfo | £5 Daily | £5 Daily |
Additional Services | ||
Business Debit Card | Debit Card - Free Physical Card (1st card) - Free Additional physical card - £10 per physical card issuance. | Debit Card - Free Physical Card (1st card) - Free Additional physical card - £10 per physical card issuance. |
Business Debit Card – Debit Card Payment | In Pounds Sterling - No Fee In foreign currency - No Fee | In Pounds Sterling - No Fee In foreign currency - No Fee |
Business Debit Card – Cash Withdrawal | In Pounds Sterling within the UK - No Fee (Other cash machine providers may charge you to use their cash machines.) In foreign currency outside the UK - No Fee (Other cash machine providers may charge you to use their cash machines.) | In Pounds Sterling within the UK - No Fee (Other cash machine providers may charge you to use their cash machines.) In foreign currency outside the UK - No Fee (Other cash machine providers may charge you to use their cash machines.) |
BACS - Direct Debit Indemnity Claim | No Fee | No Fee |
BACS - Direct Debit Indemnity Claim Recall | No Fee (only if the case is invalid, £50 per cancellation applies) | No Fee (only if the case is invalid, £50 per cancellation applies) |
BACS - New Mandate Setup | No Fee | No Fee |
BACS - Direct Debit Cancellation | No Fee | No Fee |
Online Banking - Unlimited Team Member Access | FREE | FREE |
Written Confirmation of Paymentinfo | £5 | £5 |
Manual Intervention Feeinfo | £5 For company with previous monthly average total balance* over £10,000, this fee will be waived. | £5 For company with previous monthly average total balance* over £20,000, this fee will be waived. |
Rejected and Returned Transactions by a Beneficiary Bankinfo | £5 | £5 |
Chase for Delayed Payments or Non-Receipt of Paymentinfo | £5 | £5 |
Audit Confirmation Letterinfo | £10 | £10 |
Status Enquiry/Account Confirmation Letterinfo | £10 | £10 |
Payment Investigations Enquiryinfo | Within last 12 months - £10 Before last 12 months - £20 For company with previous monthly average total balance* over £10,000, this fee will be waived. | Within last 12 months - £10 Before last 12 months - £20 For company with previous monthly average total balance* over £20,000, this fee will be waived. |
Manual Statement of Accountinfo | £2/statement | £2/statement |
* The monthly bill will cover activity from the 1st of every month until the last day of the month and charges will be debited from your relevant operational account on the 14th of the next month.
FAQs
No, there are no charges for depositing into your iFAST Global Bank account.
For GBP Payment Within UK make via Faster Payment Services(FPS), there are no fees incurred by iFAST Global Bank.
For GBP Payment Within UK to be transacted via CHAPS, £15 will be charge per transaction.
For non-GBP Payment, regardless of domestic UK payments or International SWIFT Payment, £15 will be charge per transaction.
To better understand the applicable fees, please refer to our Fee Information Page.
For a full breakdown of our fees and charges, please refer to our official Fee Information Page.