FAQs
| Personal Accounts |
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| Why should I open a Personal Account with The Access Bank UK?
The Access Bank UK Limited provides: outstanding customer service; a range of banking services to meet your needs and a pricing structure which offers value for money and is both transparent and easy to understand. |
| Do you offer joint Personal Accounts?
Yes, many of our Accounts can be held in joint names, as well as individually. |
| What are the charges to the Personal Account?
There is a flat fee of £10 per month to maintain an Account for the full range of Personal Account services. Other charges are transaction-specific; please refer to the Tariff sheet. |
| What interest rates will I get on the credit balance on my Personal Account?
Yes, interest will be paid to Personal Current Accounts and we also offer competitive rates on your Savings and Notice Accounts. Please refer to the latest Interest Rate sheet. |
| How can I withdraw cash from my Personal Account?
Cash can be withdrawn from GBP (£) Personal Accounts using your ATM card from HSBC ATMs located in the UK. |
| Can I have foreign currency Personal Accounts?
We offer GBP (£), USD ($) and EUR (€) Personal Accounts. |
| Can I transfer money directly to an Account in Nigeria?
Yes, funds can be transferred in GBP (£), USD ($) and EUR (€) to any Account in the same designated currency anywhere in the world through our Online Banking service or via telephone payment. |
| How will my Personal Account statements be provided?
Your statements will be sent by post to your correspondence address unless you have requested otherwise. |
| Will I receive monthly statements?
Yes, you will receive monthly statements unless you have stated another preference on your account. |
| Will my Personal Account transactions be confidential?
Yes, the Bank has a duty to protect the confidentiality of its customers. However, in certain circumstances (such as if obliged by law) we may have to provide information. Please refer to our Terms and Conditions for more information. |
| Will all staff members of The Access Bank UK have access to my Personal Account?
In order to ensure that the best possible service is provided, it is essential that all appropriate members of staff have the ability to access your details. |
| Business Accounts |
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| Do I need to be an existing Access Bank Plc customer to open a Business Account with The Access Bank UK Limited?
You are not required to have business associations with Access Bank Plc in Nigeria or Africa to have a Banking relationship with us in the UK. |
| What are the minimum requirements for opening a Business Account?
You are required to be a business entity and also to provide registration or incorporation details of your business. For more details, please refer to page 2 of the Business Account Application form. |
| Can I open more than one Business Account?
Yes, you can open different Accounts to suit your specific business requirements. |
| What is the minimum initial deposit needed to open a Business Account?
The minimum initial deposit is £5,000. This needs to be deposited into your Account within 14 days of the Account being opened. |
| Do I need to maintain a minimum balance in my Business Account?
No. You are not required to maintain a minimum Account balance. |
| Are there any standard charges that apply to my Business Account?
There is a monthly maintenance charge of £10, which will be debited to your Account at the end of each month. Other charges are transaction-specific. For other charges that may apply to your Account, please check the Tariff Sheet. |
| Can I operate Business Accounts in different currencies?
You can have Business Accounts in the following three currencies: GBP (£), USD ($) and EUR (€). |
| Can I transfer funds to another Account outside the UK?
You can either make international transfers through the Online Banking service or by contacting our Relationship Support Team via telephone. If you make the transfer via Online Banking, you will be charged 5% of the transfer amount up to a maximum charge of £35. For further details, please check our Tariff sheet. |
| Miscellaneous |
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| How long does it take for a cheque to clear?
When you pay a cheque into your Account it is sent to the drawer's Bank for payment. This process is known as the central cheque clearing cycle and normally takes three working days. We also need to allow two extra days to ensure that the cheque is paid. |
| Will I be notified if a cheque I pay into my Account is returned unpaid?
Yes, you will receive a letter informing you of any cheque that is returned unpaid. Also, if you check your Account statement online, you will see that you have not been credited for the value of the returned cheque. |
| What is a Direct Debit?
A Direct Debit is an instruction to allow an organisation or an individual to collect regular payments from an Account - such as gas, electricity, rent, phone bills etc. Direct Debits may be for fixed or variable amounts. |
| How can I set up a Direct Debit?
To arrange a new Direct Debit, you will need to sign a Direct Debit instruction provided by the organisation that you would like to pay. |
| What is a Standing Order?
A Standing Order is an instruction to pay a fixed amount to someone from your Account at regular intervals. The money is taken from your Account automatically on a fixed date. |
| How can I set up a Standing Order?
To arrange a new Standing Order, you will need to complete a Standing Order form. |
| What is a BIC?
A Bank Identifier Code (or BIC) is used to identify your Bank when receiving payments. |
| What is an IBAN?
International Bank Account Numbers (IBANs) have been introduced to standardise the identification of Bank Accounts around the world. It does not replace your existing Bank sort code and Account number(s). |
| What is the difference between my Account number and IBAN?
Your Account number and branch details are the primary way in which the Bank identifies your Account. Your IBAN is used for receipt of cross border payments in your favour to identify your Account in a uniform way. It allows the sending Bank to validate that the IBAN data provided is in the correct format. |
| Why am I being asked to quote IBAN and BIC codes when making a transaction?
It is a legal requirement for all Bank Accounts in the EU and EEA to have an IBAN and for a BIC to be associated with the IBAN. Due to new regulations, IBAN and BIC codes are now required on all international payments to and from Europe. You should advise the beneficiary that the payment may be delayed or subject to additional charge if this information is not provided. Please note that, from 01/01/2007, the beneficiary’s Bank is entitled to reject the payment if the IBAN and BIC codes are not specified. |
| How secure is your website?
The security of your financial information is very important to us, and every effort is made to protect you online. We use the latest technology to ensure that our online service is safe and secure. |
| What if there is fraud on my Account?
If you suspect fraudulent transactions on your Account, you need to report this directly to us on 0845 293 5535. We will investigate immediately. |
| Who do I contact if I have technical problems with Online Banking?
Our Relationship Support Team is able to help. Please contact them on 0845 293 5535. |
| Who is my point of contact should I need further assistance?
Our UK-based Relationship Support Team who be pleased to answer any of your questions. You can contact them directly on 0845 293 5535 or on +44 1606 813020 if you are calling from outside of the UK. |
| What do I do if I have a complaint?
You can contact our Relationship Support Team directly on 0845 293 5535 or send your written complaint to: Customer Services, The Access Bank UK, 4 Royal Court, Gadbrook Park, Northwich, Cheshire, CW9 7UT. |
The Access Bank UK Limited © 2013