A quick-reference guide with important information about international banking.
Interest is applied to applicable accounts at various stages throughout the year.
- Strata Account: Quarterly on the last business day in March, June, September and December
- Corporate Call Account: Quarterly on the last business day in March, June, September and December
- Strata Notice Accounts: Quarterly on the last business day in March, June, September and December
- Fixed Term Deposits: On maturity
- Offshore Moneymarket Call Account: Monthly
- Offshore Reserve Savings Account: Half yearly on the last business day in February and August
- International Saver Notice Account: Annually, on the last business day in June
Market conditions may result in negative interest being applied to accounts:
- This means that instead of earning interest on money in an account, you will be charged a fee based on the full balance of your account
- The total interest deducted from your account will be shown on your statement as ‘negative credit interest’
Please read the General Terms and Conditions document, Clause 6.21 if you require any clarification.
Transaction charges and fees
When you provide a payment instruction to us, you will have the option of selecting one of three charging options:
- SHARED – This means that you will pay Standard Bank’s charges, but any agent or correspondent bank charges that are incurred en route will be deducted from the payment amount. “Shared” is the default if another charge option is not specified.
- REMITTER (OUR) – All fees will be charged to you as the sender. This means that you will pay Standard Bank’s charges and any fees charged by the receiving bank and any correspondent bank*.
- BENEFICIARY – All fees will be charged to the receiver. This means that any charges levied by both sending and receiving banks will be deducted from the amount of the payment, together with any agent and correspondent bank charges that the payment incurs en route.
*A correspondent bank may at its own discretion deduct its charges from remitted funds, even if you selected to pay all fees upfront.
To comply with the International Tax Regulations it is important that we maintain up to date tax information on companies and their controlling parties. Should this information change please contact us or download and complete the following form.
The Standard Bank Offshore Group, and Jersey and the Isle of Man wholly owned subsidiaries, has its registered office at Standard Bank House, 47-49 La Motte Street, St. Helier, Jersey JE2 4SZ.
Standard Bank Isle of Man Limited is licensed by the Isle of Man Financial Services Authority under the Financial Services Act 2008.
Standard Bank Jersey Limited is regulated by the Jersey Financial Services Commission to conduct deposit taking business under the Banking Business (Jersey) Law 1991 and investment business and fund services business under the Financial Services (Jersey) Law 1998.
The Standard Bank Offshore Group is compliant with the Foreign Account Tax Compliance Act, a US legal and regulatory requirement designed to ensure that US taxpayers pay US tax even if their assets and US source income are channelled through non-US jurisdictional accounts and entities.