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Effective from 19th October 2009
Details of all our standard prices for the most commonly used banking services and facilities are provided below. If a price is not given for a service you wish to use, please ask us and we will give you all the details you need.
Daily Banking Transaction Fees
These are calculated at the end of February, May, August and November and are applied in early April, July, October and January.
| Paper lodgements/withdrawals | GBP0.59 each |
|---|---|
| Standing Order Debits | GBP0.59 each |
| Automated transactions | GBP0.43 each |
| Banklink withdrawals+ | GBP0.43 each |
| Account Maintenance | GBP7.50 per qtr |
| Notes lodged | GBP0.70 per GBP100.00 |
| Notes paid out | GBP0.70 per GBP100.00 |
| Notes/Coin exchanged | GBP1.20 per GBP100.00 |
| Coin Lodged | GBP1.20 per GBP100.00 |
| Coin Paid Out | GBP1.20 per GBP100.00 |
| Cheques in lodgments | GBP0.40 each |
Other Main Charges
These may be applied either at the time of transaction or at the beginning of the next quarterly fee period. Unless otherwise stated the following fees are quoted on a per item basis.
| Bank Drafts (drawn in Sterling) | GBP10.00 |
|---|---|
| Bank Report for Audit Purposes | GBP40.00 per hour plus VAT (minimum 1 hour) |
| Credit Transfer | GBP7.00 |
| Certificate of Balance/Interest | GBP10.00 |
| Cheques sent for Collection/Special Presentation | GBP12.50 |
| Direct Debit set-up | No charge |
| Copy of Statement | GBP10.00 per request |
| Inter-bank transfer of funds same day value CHAPS out | GBP25.00 |
| Same day value CHAPS in (payments greater £100.00) | GBP6.00 |
| Same day value CHAPS in (payments of £100.00 and under) | GBP2.00 |
| Lodgment or Incoming Credit Transfer narrative | GBP0.40 |
| Night Safe Facilities Wallet Rental Bank to open | GBP15.00 per qtr plus VAT |
| Rental Only | GBP30.00 per qtr plus VAT |
| Reconciliation of paid cheques | GBP15.00 per 1000 or part thereof |
| Replacement of Banklink card/Debit card/Cheque card | GBP8.00 |
| Replacement of Passbook | GBP6.00 |
| Retrieval of cheque/Payee details | GBP10.00 per request up to a maximum of 5 cheques |
| Safe Deposit Facilities (charged annually in arrears)* | |
| Sealed Envelope | GBP25.00 plus VAT |
| Box or Parcel | GBP50.00 plus VAT |
| Safe Deposit Access Charge | GBP20.00 plus VAT per transaction |
| Set-up/Cancel | No charge |
|---|---|
| Amendment | No charge |
| Status Enquiries Answered | GBP10.00 plus VAT |
| Stop Payment Instruction (Cheque) | GBP8.50 |
| Stop Payment Instruction (Direct Debit) | No charge |
| Unpaid Items | |
| Collected on behalf of customer | GBP6.00 |
Where a fee is not catered for above, an administration fee may be levied (GBP10.00 per quarter hour).
*Please note this is a discontinued service and is only available to existing customers of First Trust Bank who already avail of safe deposit facilities.
Unarranged Borrowing Fees
If you do not follow the terms and conditions of your account the following fees may apply
|
|
Why the fee is charged | How much? |
|---|---|---|
| Paid item fee | If an item such as a cheque, standing order, direct debit or personal-loan repayment is due to be paid from your account and your account is already over your agreed overdraft limit or overdrawn by more than £15, we will charge you a paid item fee if we decide to pay the item after examining your account. We will not charge you a paid item fee if your balance is less than GBP15 overdrawn. | GBP15 for each item, up to a maximum of three fees each day. |
| Unpaid fee | If an item such as a cheque, standing order, direct debit or personal-loan repayment is due to be paid from your account and you do not have enough money to cover the payment, we will charge you an unpaid item fee if we decide, after examining your account, not to pay the item. | GBP35 for each item |
| Letter fee | This fee is charged if we have to write to you if your account is in excess. Excess is when your account goes overdrawn without you first having agreed a limit with us, if you go over any agreed overdraft limit. | GBP13 for each letter |
Arrangement Fees
| Overdraft (New and Renewal) | Normally 1% of agreed facility (minimum GBP50.00) |
| Variable Rate Loan | Normally 1% of agreed facility (minimum GBP55.00) |
| Temporary Extension Fee. This is for the temporary extension of an overdraft or loan beyond its original expiry date. This is subject to advance agreement with your branch. | Minimum 0.25% per quarter or part thereof |
Excess Interest
Accounts with Agreed Overdraft Limits
If you exceed an existing overdraft facility you will be charged excess interest on that portion of the overdrawn account balance, plus any uncleared funds which are in excess of the agreed facility. If your overdraft facility has expired you will be charged excess interest on the overdrawn account balance, plus any uncleared funds.
Excess interest, where it applies, is calculated at 1.5% per month (minimum of GBP2 per month).
Accounts with no Agreed Overdraft Limit
If your account goes overdrawn without you first having received agreement from the Bank, you will be charged the Bank's standard rate of interest appropriate to unauthorised (without limit) debit balances*. In addition to this you will be charged excess interest on the overdrawn account balance, plus any uncleared funds.
Excess interest, where it applies, is calculated at 1.5% per month (minimum of GBP2 per month).
* Information on our standard rates of interest are available on notice boards within all First Trust Bank branches, in the Related Information section and from our helpline on 0800 3896218.
Interest Periods for Current Accounts
| Interest Periods | Date your account will usually be credited | Date your account will usually be debited |
|---|---|---|
| 16 March - 15 June | 16 June* | 4 July# |
| 16 June - 15 September | 16 September* | 4 October# |
| 16 September - 15 December | 16 December* | 4 January# |
| 16 December - 15 March | 16 March* | 4 April# |
*or the previous working day
#or the next working day
We will advise you of the amount of debit interest due, if any, prior to your account being debited. This gives you the opportunity to ensure that you have sufficient cleared funds available in your account to meet the interest due.
Security Fees
Security fees apply to secured borrowings. The fee will vary depending on the security taken, it will be advised at the point of negotiation or sanction. More information on Security fees can be found in the Related Information section.
Clearance of Cheques and Automated Payments
The Central Clearing Cycle for the banking industry normally takes 3 working days. Refer to APACS in the Related information section or ask at your First Trust Bank branch for further details.
Clearance of Cheques
All cheques lodged to your account have to go through a process known as the clearing cycle and will be treated as "uncleared funds" for a period of time, depending on the bank on which the cheque is drawn. The "uncleared period" reflects the time it takes to obtain payment from the branch of the bank on which the cheque is drawn. During this period, if you draw against the uncleared funds, interest may be charged. The rate of interest applicable will depend on whether you have an overdraft facility to accommodate the payment.
The following table indicates the day on which your cheque will clear for withdrawal purposes and the day on which your funds will start to earn interest. The days refer only to working days and so not include weekends or Bank Holidays.
| Day | Event |
|---|---|
| T | Day the cheque is lodged into a customer's account. |
| T+1 | Day the cheque is exchanged with the paying bank and processed through their clearing system. |
| T+2 | Day the cheque is debited from the paying bank customer's account. Day that the customer gets value for the cheque e.g. the day the funds will start earning interest or reduce the amount of overdraft interest charged. Day that the paying bank makes the decision to pay the cheque or return the cheque unpaid. |
| T+3 | Day that the collecting bank receives the unpaid cheque from the paying bank and debits the customer's account. |
| T+4 | Day that the funds will be available for withdrawal by the customer. Unpaid cheque may still be debited from the customer's account. |
| T+5 | Unpaid cheque may still be debited from the customer's account. |
| T+6 | Last day that a cheque returned unpaid by the paying bank can be reclaimed from a customer's account. However an unpaid cheque may be debited after this date if First Trust Bank has the agreement of the customer to debit their account or the customer was knowing part to fraud. |
Examples
First Trust Bank Cheques
A First Trust Bank cheque lodged to a First Trust Bank account on a Monday is normally available for you to withdraw on a Wednesday Morning. Once we have collected the money from the branch stated on the cheque it is cleared for the purposes of calculating interest, if applicable. Therefore a First Trust Bank cheque lodged on a Monday to a First Trust Bank credit interest bearing account, will normally start to earn interest (or reduce the overdrawn balance for interest purposes on any current account) on Tuesday.
Other UK Bank Cheques
A cheque drawn on another bank, lodged to a First Trust Bank account on a Monday, is normally available for you to withdraw on a Friday morning. Once we have collected the money from the bank stated on the cheque, it is cleared for the purpose of calculating interest, if applicable. Therefore, a cheque drawn on another bank, lodged on a Monday to a First Trust Bank credit interest bearing account, will normally start to earn interest (or reduce the overdrawn balance for interest purposes on any current account) on Wednesday.
As described above, there is a risk that the cheque could be returned unpaid and debited to your account up to close of business on T+6. The timescales are for guidance purposes only and illustrate when we aim to make the funds available to you.
NOTE: In exceptional circumstances a cheque can be returned unpaid outside of the clearing cycle outlined above.
Clearance of Automated Payments
A Standing Order is an instruction to debit your bank account and credit another bank account through the BACS system. Two working days are required for the funds to reach the nominated account e.g. funds debited from your First Trust Bank account on a Monday by way of standing order will be credited to the recipient account on Wednesday. However, if the recipient is a First Trust Bank account holder within the same branch the funds will be credited on the same day. For all other transactions including where the recipients is a First Trust Bank account holder in another branch, the process takes two working days. Upon receipt, incoming standing orders credits are immediately cleared for withdrawal and will start to earn interest, if applicable, the following working day.
Funds can also be credited to your account by incoming automated transfers such as salary/pension credits or standing orders. When a credit is made using this method, you will normally have to wait until the third working day, from the day the paying bank initiates the payment, before the funds are received into your account. Upon receipt, incoming credits are immediately cleared for withdrawal and will start to earn interest, if applicable, the following working day.
Cash Machine Withdrawals
Cash can be obtained from Cash Machines in the UK. Withdrawals from Cash Machines, other than those operated by AIB Group, may be subject to a cash-handling fee levied by the Cash Machine operator. You should be advised of such fees during the course of making a withdrawal and given the choice of cancelling the transaction.
+Banklink Withdrawals from Cash Machines
In addition to the account transaction fee for Banklink withdrawals, using the card to withdraw other currencies will attract the following fees:
Withdrawals from Cash Machines in Republic of Ireland and EURO dispensing Cash Machines in Northern Ireland and Great Britain
Your Banklink card can be used to withdraw EURO currency at Cash Machines of AIB Bank, Bank of Ireland and Ulster Bank in the Republic of Ireland. Your Banklink card can be used to withdraw EURO currency at designated EURO dispensing Cash Machines in Northern Ireland and the UK. In both cases the amount will be converted at an exchange rate set by AIB Bank.
Withdrawals from other Cash Machines in Europe and the rest of the World
Your Banklink card can also be used to withdraw foreign currency at cash machines displaying the Visa Plus logo. The amount will be converted at an exchange rate determined by Visa International and will be subject to a currency conversion fee of 2.00% for transactions in US or Canadian dollars, 2.25% for transactions in EURO, and 2.50% for transactions in all other foreign currencies.
A 1% cash-handling fee (minimum of GBP1) will be applied (except for EURO withdrawals) and charged separately.
General Information
All fees are subject to change in the future.
Further information about the fees listed or the services to which they relate may be obtained from your local First Trust Bank branch and from our help-line 0800 389 6218.
First Trust Bank,
Business Banking,
P.O. Box 123,
First Trust Centre,
92 Ann Street,
Belfast,
BT1 3AY.
Telephone: (028) 9032 5599
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