• Account Services

     
  • Jack Nichols, CFO, Oversight Systems
  • Opening Your Account is Just the Beginning

    Whatever stage your business is at and whether you operate your business domestically or internationally, managing your cash and accessing it requires integration, visibility and flexibility.

    Silicon Valley Bank offers a range of account solutions that enable you to manage your funds in multiple currencies anywhere in the world. Your accounts are easily visible and accessible using SVB Online Services, providing up to date balances and transaction data to help you make decisions and manage your cash whenever and wherever you are.

    Current Accounts

    Standard in-country GBP operating account, with credit interest based on your account balance and giving you access to UK payment systems.

    Foreign Currency Accounts

    UK based non-interest bearing accounts, currently available in Euro, USD, ILS, AUD, HKD, NZD, CHF, CAD, SGD, JPY, DKK, SEK, NOK, ZAR and CNY. UK Based Euro accounts include SEPA (Single Euro Payment Area) Credit Transfer capabilities.

    Corporate Deposit Accounts

    Interest bearing deposit accounts, available in GBP, EURO, USD, ILS, AUD, HKD, NZD, CHF, CAD, SGD, JPY, DKK, SEK, NOK, ZAR and CNY.

    UK Interest Rates

    The following is an explanation of the method used to calculate final interest rates that apply to the interest bearing accounts that you holdwith the UK Branch of Silicon Valley Bank.

    Interest on all accounts is calculated daily on the daily closing balance and applied to the account on a monthly basis as an amount whichis gross of tax.

    Where there are tiers of interest depending on the balance of your account, the interest rate tier that your balance falls within will apply tothe whole balance of that account when the daily interest rate is calculated.

    The interest rate is calculated by adding the Margin Rate applicable to the relevant currency to the Index Rate below. A full list of MarginRates is available on this page under Important Information. For example, if SVB UK GBP Index Rate is 0.50% and the balance on yourCorporate Deposit Account is £6,000,000, the interest rate used to calculate the daily interest will be 0.25% (being 0.5% - 0.25%).

    If the interest rate is less than 0%, then an interest rate of 0% will be applied.

    Currency Name Currency Code Index Rate
    AUSTRALIAN DOLLAR AUD 2.00
    CANADIAN DOLLAR CAD 0.50
    SWISS FRANC CHF -0.25
    CHINESE YUAN CNY 4.85
    DANISH KRONE DKK 0.05
    EUROPEAN UNION EURO EUR 0.05
    BRITISH POUND GBP 0.50
    JAPANESE YEN JPY 0.10

    Term Deposit Accounts

    Interest bearing fixed term deposit accounts for your excess cash balances available in GBP and USD.

    US Accounts

    We can provide a range of accounts and services through our US operations for products and currencies not offered by Silicon Valley Bank in the UK

    Fees and charges apply to all of our accounts. Please see our full terms and conditions, account tariff and interest rate availability documentation for the latest information or contact us directly.