Business Current Account
Minimum age |
18 |
Must be main business current account |
Yes |
Current Account Switch Service |
Yes |
Standing Orders & Direct Debits |
Yes1 |
Contactless Visa debit card |
Yes. You can use your debit card to make a payment in pounds. This can be in a shop, online or over the phone. |
Verified by Visa and One Time Passcode protection |
Yes |
Cash Withdrawal in pounds in the UK at Link cash machines |
£300 per day2 |
Mini statements from Cumberland cash machines |
Yes |
Cash withdrawal at Cumberland branches |
£500 per day3 |
Cash withdrawal and debit card payment in foreign currency outside the UK |
Free4 |
Cheque book |
Free (on request) |
Statements |
Free |
Use of all Cumberland branches |
Yes |
Online banking |
Yes |
Text alerts |
Yes |
Customer Service Helpline |
Yes |
Overdraft facility available |
Yes, an arranged overdraft is available on request, subject to status |
Arranged overdraft interest rate |
3.04% per quarter (12.73% p.a. variable EAR)5 |
Unarranged overdraft interest rate |
5.659% per quarter (24.63% p.a. variable EAR)5 |
Interest rates correct at 11/08/14. Charges are correct as at 01/10/15
(1) A standing order is a way we can make regular transfers, on your instruction, of a fixed amount of money from your account to another account. A Direct Debit is where you permit someone else (recipient) to instruct us to transfer money from your account to that recipient. We then transfer money to the recipient on a date or dates agreed by you and the recipient. The amount may vary.
(2) You can take cash out of your account in pounds at a Link and Visa cash machine, bank or Post Office in the UK.
(3) You can take cash out of your account in pounds at any Cumberland cash machine.
(4) Unlike most banks, we won't charge you for making Cumberland Visa debit card payments in a foreign currency, or for cash withdrawal in foreign currency outside the UK (with most Cumberland current accounts). The provider of a cash machine or retailer may apply a charge.
(5) EAR – Effective Annual Rate.