'Notional pooling' means you do not have to buy currencies for short-term funding obligations, so you do not incur extra costs. You can pool balances across selected currency accounts up to a pre-agreed limit. This allows you to make payments in a currency before you receive money in that currency if you have the funds in other accounts.
We pay and charge, credit and debit interest at an agreed rate which varies by currency. Some currencies have a fixed charge.
Our current accounts are ideal for companies with international trading requirements. Small to Medium-sized Enterprises (SMEs) and Payment Service Providers (PSPs) that turn over between £5 million and £50 million a year may open a current account with us.
Why choose a BFC Bank current account?
Client money is held in a segregated account in the name of your company that includes 'general client money' in its title. This distinguishes it as monies held for one or more of your company's clients and not for your company. The funds may be held in any of the accounts made available by BFC Bank in a nominated currency.
Client money accounts are not allowed to be part of a multi-currency cross currency notional pooling facility and are not allowed to have an overdraft facility, loan or same day exposure.
We make it easier for Small to Medium-sized Enterprises (SMEs) to understand banking fees and foreign exchange charges. SMEs may find it difficult to identify the precise nature and breakdown of charges. We take a different approach. We believe in complete transparency and disclosure of our fees.Read more >>