Electronic Business Tariff
This page gives you details of our day-to-day banking charges for the Electronic Business Tariff.
If you use electronic or automated ways of banking then you may prefer our Electronic Business Tariff, which includes lower cost charges for those types of transactions if a credit balance of £1+ is maintained.
We will write to you 2 months before your free business banking period ends, asking whether you want to be placed on the tariff you chose when you opened your account or a Fixed Fee Account. Our Fixed Fee Account plans give you a maximum number of transactions each month for a fixed fee. This makes it easier for you to budget for your day to day banking, putting you in control of your account charges.
Alternatively, you may choose to move onto the Business Extra Tariff where instead of a fixed monthly fee, you will pay individual charges per transaction.
Our charging cycle runs from the 10th of one month to the 9th of the following month.
Account maintenance fee (charge made for the basic administration costs of running your account): £5.00 a month.
|Transfer (transfer to another TSB business account in your name with the sort code starting 30, 77 or 87)||Free|
|Debit card transaction (excluding ATM)||Free|
|UK Cash machine withdrawals (we will not charge you for debiting your account but some providers may charge you a fee for using their machines which they will advise you of in advance. Please refer to our brochure 'Your business account charges' for further information on other card transactions.)||Free|
|Bulk Payment - per item||Free|
|Bulk Payment - batch direct debit*||Free|
|Automated credit (includes Telephone and Internet Banking)||Free|
|Automated credit – Faster Payments inbound||Free|
|Credit paid in at TSB branch||65p|
|Credit paid in at another bank||65p|
|Credit paid via nightsafe||Free|
|Transfer (transfer from another TSB business account in your name with the sort code starting with 30, 77 or 87)||Free|
Payments made through your account are processed in different ways. Find out more information about the cheque clearing process for cheques, automated payments and Internet and Telephone Banking transactions.
|Cash paid in||89p per £100|
|Cash paid out at TSB counter||89p per £100**|
|Cash exchanged||£1.65 per £100|
|Cheque paid in||30p|
|Cardnet® envelope paid in||Free|
|BACS – batch file submitted||£4.00|
|BACS – debit or credit item||Free|
|Unauthorised Borrowing Fee||£15.00|
|Unpaid Item||£35 for each item not paid|
Unauthorised Borrowing Fee – The first time you overdraw your account or exceed your agreed limit with us by £50 or more, an Unauthorised Borrowing Fee (UBF) is chargeable. After that, the UBF is chargeable every time you increase your unauthorised borrowing by £50 or more from the previous day's closing balance unless a higher limit is agreed with us or until the account is within its existing limit or in credit.
Unpaid item – We charge each time we have to return a cheque unpaid or there is insufficient money in your account to pay a standing order or Direct Debit*.
**this includes the use of debit cards to withdraw cash over branch counters.
* We make payments from your account shortly after midnight at the start of the payment due date or the next working day for payments that fall on a non-working day. If you don't have enough money in your account at this point, we will try to make the payment again after 3.30pm the same day to give you the chance to put extra funds into your account. If there is still not enough money to make the payment, we’ll try one last time shortly after midnight on the next working day. If that attempt fails because there's not enough money in your account, the payment will not be made, and you will need to contact the beneficiary.
We’ll contact you every time we return an item unpaid. Any unauthorised borrowing or return item charges will be accrued into one lump sum and charged on a monthly basis.