A current account allows instant access to real-time balances and transaction information in up to 20 currencies. Accounts can be included in BFC Bank's multi-currency pooling group, subject to approval. Clients can make and receive electronic payments internationally and carry out foreign exchange transactions. Current accounts are available to small to medium-sized enterprises (SMEs) with a turnover between £5 million and £50 million per annum. This type of account is ideally suited to companies with international trading requirements. Overdrafts or loans to finance trade related requirements may be available after the account has been active for three months, subject to credit approval. BFC Bank's service is online only, with telephone support and a dedicated Relationship Manager who will visit you regularly. Enjoy the latest banking technology and an easy-to-use internet banking solution to conduct daily business.
Term deposits are held in an account that complements a current account. Cash deposits are held and accrue interest (variable by currency) when funds in a specific currency may not be required for a period of time. Accounts can be opened in up to 20 currencies for terms of three, six, or 12 months. Rates are fixed for the period and withdrawals are not permitted. Term deposits are available to BFC Bank clients who hold an active account in the nominated currency.
Foreign Exchange (FX) enables efficient and cost-effective currency purchases and sales. Clients can make domestic and international transactions with full visibility of market conditions. FX helps mitigate exchange rate exposure when trading internationally. BFC Bank's online service provides FX rate fixing in a transparent and easy-to-use way.
Inward payments enable clients to receive UK domestic and international payments directly into their BFC Bank account from most international locations, in virtually any currency. Clients are supported by a dedicated, named team with industry-leading experience in inward payments. BFC Bank provides immediate payment advice with transaction details. Payment information is also available online in real-time. Interbank payments are secure, and made via Swift, SEPA or Faster Payments.
Outbound payments enable clients to make online UK domestic and international payments from any BFC Bank currency account to a pre-defined beneficiary. Highly secure online payments can be made in virtually any currency to most destinations worldwide, in the local currency or a selected currency. BFC Bank offers same-day euro-payments between the UK and other countries. For other countries and currencies, the beneficiary will receive funds within one to five working days of the account being debited. The number of working days depends on the payment destination. The payments service is supported by a dedicated team experienced in payment practices. Detailed payment advice is provided immediately following each transaction. Clients can pre-define beneficiaries online directly through the banking portal.
Regular UK and international payments can be made online from any BFC Bank currency account to a pre-defined beneficiary. Payments can be made in virtually any currency to most destinations worldwide, in the local currency or a selected currency. Clients can pre-define beneficiaries online directly through the banking portal, subject to appropriate screening.
Overdrafts and short-term loans are available to clients subject to a credit assessment, after an account has been active for three months. Short-term loans and overdrafts are repayable on demand for periods of less than 12 months (364 days maximum). Short-term loans and overdrafts are available in up to 20 currencies to help fund and facilitate international trade. Short-term loans and overdrafts cannot be used for capital expenditure and there must be a known source of repayment. Short-term loans and overdrafts can be used to bridge the gap prior to payment receipt, or to allow payments or banknotes delivery pending receipt of covering funds on the same day.

Current Accounts

A current account allows instant access to real-time balances and transaction information in up to 20 currencies. Accounts can be included in BFC Bank's multi-currency pooling group, subject to approval. Clients can make and receive electronic payments internationally and carry out foreign exchange transactions.

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Transparent fees - clarity at last for SMEs and PSPs

Many Small to Medium-sized Enterprises (SMEs) and PSPs struggle to understand banking fees and FX charges. The difficulty in identifying the precise nature and breakdown of charges arises when banks are not transparent in how they charge clients and bundle costs.

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