US Dollar Offshore Base Rate Tracker - Frequently asked questions

Q. How long does it take to open an account?

We do our best to keep this process as speedy and straightforward as we can. By supplying us with everything we need at the same time as you make your application, you will be helping us to keep the process to a minimum. The What we need you to provide  document gives you a step-by-step outline of the information we need and the format in which it has to be supplied.

Q. I'm an existing customer. Do I need to fill in an application form?

If you're an existing customer, you may be able to open your new account even faster by making your application by phone. There's no extra paperwork - just one call. Phone 0845 604 6335 or from outside the UK on +44 (0) 1539 740 730.

Q. What is the minimum opening balance?

The minimum opening balance for the US Dollar Base Rate Tracker Account is US$50,000.

Q. How much can I deposit in a US Dollar Base Rate Tracker Account?

You can deposit any amount between US$50,000 and US$2,000,000.

Q. Can I use money already held with Bank of Scotland International to fund a Base Rate Tracker Account?

This account can only be funded with money which is not already deposited with Bank of Scotland International Limited or Jersey/Isle of Man branches of Bank of Scotland plc.

Q. Can I access my account using internet banking?

You can use internet banking to check the balance, view account activity, order historic statements and interest certificates. You can also arrange transactions, in the same currency as your account, to accounts in the UK and worldwide, Simply register by calling our Internet Banking Helpdesk on 0845 604 6335 or from outside the UK on +44 (0) 1539 740 730. Monday to Friday 09.00 to 17.00 UK local time.

Q. How much access do I have to my money?

You can make up to four withdrawals per year without giving notice or losing interest. Please note closing the account is classed as a withdrawal. Please also note if your account balance falls below US$50,000, the interest rate will be lower than the rate paid for balances above this amount and you will be able to make withdrawals without loss of interest.

Q. What if I need access more than four times per year?

If you need access to your money more than four times a year, that's not a problem. We'll simply charge the equivalent of 30 days' interest on the amount withdrawn. You also benefit from having unlimited access to your funds when making foreign exchange* withdrawals.

Q. If I make a withdrawal in another currency, does this count towards my free withdrawals?

Withdrawals made in a currency different to the one held in your account are not classed as one of your free withdrawals. This means you can make as many as you like, without loss of interest.

Q. When is my interest paid?

Interest is paid annually on the last bank working day of August.

Q. Can I have interest paid back into my account?

Interest can be paid back into your US Dollar Base Rate Tracker Account. All you need to do is specify on the application form at time of opening.

Q. Can I have my interest paid to another account?

If you already hold another US Dollar account with Bank of Scotland International, you can have the interest paid into this account. Please note that if paying interest to another bank, transmission charges may apply.

Q. What if I don't have US$50,000 to invest?

If you've US$5,000 to invest you might be interested in our International US Dollar Savings  account. Call us on 0845 604 6335 or from outside the UK on +44 (0) 1539 740 730 to find out more. 

Q. Who can I speak to if I need extra information?

If you need further information call us on 0845 604 6335 or from outside the UK on +44 (0) 1539 740 730 or request a callback.

*"Foreign exchange" for the purposes of the account means the withdrawal of funds from the account in a currency other than the currency of your account.

Account held with Bank of Scotland International Limited.  

Personal customers only.