Statement of Fees

Statement of Fees FAQs

• 1. What is the Statement of Fees?

  Your Statement of Fees document shows you a breakdown of all the fees you have been charged on your payment account typically over the last 12 months. If, however you have received your first Statement of Fees before 31 October 2019 then it will cover the fees charged since 1 November 2018 until the date at the top of the document.

  It also shows you any interest you may have been charged or earned over this time.  We will send you this document once a year.

• 2. Why are you sending this to me?

  The Statement of Fees document has been introduced under the Payment Account Regulations 2015 and all banks must provide customers with them on personal payment accounts.  The aim of these regulations is to be clear in how fees are charged, making it easier for customers to be able to compare payment accounts across all banks.  This includes using consistent wording to describe the types of fees charged and interest you may have paid or earned.

  We are sending you this document to make sure we follow the new regulations and we think that you will find it useful to be able to see what you pay in fees and interest every year on your payment account.

• 3. How will I be able to view this statement?

  We will send you your copy by post if that is how you usually receive your payment account statements. If you are registered for Online banking, you will be able to view it online under the section ‘Statements & Fees’ on your Online banking. 

• 4. I can’t find my Statement of Fees under the section ‘Statements & Fees’ on Online Banking.

  Your Statement of Fees is under the section ‘Statements & Fees’ on your Online Banking. To find your Statement of Fees click on the account you wish to view. Your first Statement of Fees will be dated between September and 31 October 2019 and then the anniversary of account opening for all subsequent ones. You can tell the difference between an account statement and a Statement of Fees once you click into each statement by looking at the heading. Please see Question 15 on how to find your anniversary date of account opening on your statement

• 5. What do you mean by payment account?

  When we say payment account we are referring to your current account.

• 6. Will the Statement of Fees change the way fees will be charged to my account?

  No, nothing has changed.  Any fees that are applicable to your payment account will remain the same and no new charges have been introduced.

• 7. Is there a cost for receiving a Statement of Fees?

  No, the Statement of Fees is completely free of charge.

• 8. Is the Statement of Fees a bill?

  No, it’s not a bill and you are not being charged new fees.  All fees and interest shown on your Statement of Fees have already been charged to your account.

• 9. Can I reduce the fees I’m currently being charged?

  Yes, you can. Your current account is free of charge once you remain in a credit position.   You can also view Personal Banking Service Charges Explained  that goes into more detail if you need it.

• 10. Can I choose the way I receive these statements?

  Yes, you have two options:

  • eStatements –Your Statement of Fees will be uploaded to your Online Banking profile in the section ‘Statements & Fees’ for you to view and print anytime.

  Or

  • Paper Statements – Your Statement of Fees will be posted to you.

  See Question 11 and 12 on how to switch the way you currently receive your Statement of Fees.

• 11. I’ve received my Statement of Fees as a paper statement how can I switch to receiving it as an eStatement only?

  If you are registered for Online Banking then you will automatically receive your Statement of Fees as an e-Statement. You can choose to stop receiving a paper statement if you don’t need it. With Online Banking you can choose to 'Stop Paper Statements' on your accounts. All you need is your Online Banking login details and your mobile phone number. Step 1. Log into Online Banking Step 2. Choose ‘Statements & Fees’ from the ‘Accounts’ menu Step 3. Select the ‘X’ beside the account you wish to stop paper statements for or select ‘Stop all paper statements’ and follow the on screen instructions. Step 4. Confirm your mobile number. You will receive a text message each time a new eStatement is available to view simply login to Online Banking to view your eStatement. Please note that if you stop Paper Statements all statements for this account will change not just your Statement of Fees.

  For example: you will receive your Current Account Statement and Statement of Fees in the form of eStatements.

• 12. I’ve received my Statement of Fees as an eStatement. How can I switch to receiving it as a paper statement?

  You will need to contact Phoneline Banking if you wish to receive paper statements.  Please phone 0345 601 6262. We are available between 8am and 12am (Midnight), 7 days a week. Please note that if you switch to paper statements all statements for this account will change not just your Statement of Fees.

  For example; you will receive your Current Account Statement and Statement of Fees in the form of paper statements.

• 13. How regularly will I receive a Statement Of Fees?

  You will receive a Statement of Fees once a year and it will show you the fees charged on your account over the previous 12 months.

• 14. What time period does the Statement of Fees cover?

  The time period the Statement of Fees covers can be found under the section “Period” on the first page of the document. This typically covers 12 months.

  However, if you have received your first Statement of Fees before 31 October 2019 then it will cover the fees charged since 1 November 2018 until the date at the top of the document.

  If you received your first or subsequent Statement of Fees after 31 October 2019 then it will be will be produced on the anniversary of your account opening date.

• 15. What is the anniversary date of my account opening?

  You can find the anniversary date of your account opening on the front page of your Statement of Fees. In the section “Period” it will always be the “to” date.

• 16. Why have I received another Statement of Fees for the same account within the year? I thought it was just once a year.

  We will send you your Statement of Fees once a year on the anniversary of your account opening. However, because the Statement of Fees is new, under regulations all customers have to receive their first statement on or before 31 October 2019.  This meant customers received a copy whether it is the anniversary date of their account opening or not. This means you may receive two Statement of Fees close together. The time period that each statement covers will be clearly stated on the first page

  Please see Question 15 on how to find your anniversary date of account opening on your Statement of Fees.

• 17. Can I choose the time period the Statement of Fees covers?

  No, we will send you your Statement of Fees on the anniversary of your account opening.

  Please see Question 15 on how to find your anniversary date of account opening on your Statement of Fees.

• 18. Can I opt out of receiving a Statement of Fees?

  No, we are legally obliged to provide you with a Statement of Fees once a year.  You can however choose the way you want to receive them.

  Please see Question 10 for the options you have on how you get your Statement of Fees.

• 19. I rarely or never use my account. Why have I received a Statement of Fees?
• 20. The type of account I have does not charge fees however I still have received a Statement of Fees. Why is that?

  We will provide you with a Statement of Fees even if you don’t pay fees.

  Your Statement of Fees will outline services you are receiving, any fees that would’ve been charged to your account and the number of times the service was used. However under the section ‘Total’ it will state ‘Fees not charged’.

• 21. I’ve closed my account and have still received a Statement of Fees, why?

  If there has been any fee and/or interest activity on your account since your last Statement of Fees was issued then we will provide you a final Statement of Fees when the account has fully closed. You will not receive any further Statement of Fees on this account.

   

• 22. I’m unsure of the financial terms that are being used in the Statement of Fees?

  We understand that some of the financial terms used throughout the document may not be familiar to you. We have a ‘Fee Information Document Glossary’ which explains what the different fees mean.

• 23. Can I access copies of my Statement of Fees from previous years?

  Not immediately, as this is the first year, you can only access a copy for this year.  However, in the future you will be able to access copies of your Statement of Fees from previous years under ‘Statements & Fees’ on your Online Banking.

• 24. Can I order a copy of my Statement of Fees?

  Yes. If you are registered for Online Banking, a copy is made viewable and to print under the section ‘Statements & Fees’.  This copy is available on your Online Banking profile even if you receive your statements by post. If you receive paper statements and need a duplicate copy of your Statement of Fees to be sent to you, the following options are available for you to order it; You can contact us on 0345 601 6262 (+44 345 601 6262 if outside UK) to order. Our advisers are available between 9am to 5pm Monday - Sunday (except on bank holidays).

  We do not charge for this service. Please allow 7-10 business days to receive your copy of your Statement of Fees.

• 25. I’d like to query a fee I don’t think I should have been charged.

  As the Statement of Fees is a yearly document, you might need to review your account statement for when you were charged that fee to check that it was correctly charged. If you still wish to query the fee, you can contact us on 0345 600 5204 (+44 345 600 5204 if outside UK) to order. Our advisers are available between 9am to 5pm Monday - Friday (except on bank holidays).

• 26. I see fees shown on my Statement of Fees but I’m sure they were refunded to me by my branch?

  Your Statement of Fees won’t show any refunds. As such, it may be the case that a charge you were refunded will still show on your Statement of Fees.  We suggest to review your account statement to see if the fee was refunded to the account.

• 27. Why does it say I received credit interest? I thought my account didn’t earn credit interest.

  If you changed from a Credit Interest Account to an account that does not offer credit interest during the year, we will still tell you about this credit interest earned on your Statement of Fees