RBS Select Money Transfer Rate - Exchange Rates

RBS Select Account
FCA Regualted: Not FCA Regulated
Margin Rate: 5%
Rate Per Single Unit: 1.091
Exchange Rate You Get: 109,147

RBS Select Money Transfer Rate - Exchange Rates

RBS Money Transfer Rate Your RBS select account gives you the convenience of being able to withdraw your cash from any cash machine in the United Kingdom. Consequently, You will get a Visa Debit card, monthly statements, direct debits and standing orders.

What are the purchase fees for RBS Select bank?
There is no Fee for opening up a select bank account in RBS. Also, It is absolutely free of cost.

Are there any admin fees with RBS Select bank?
An administration fee is charged when an overdraft limit is requested for more than a specific amount. So, It will be charged when the overdraft is agreed upon. If your select account has monthly arranged overdraft limit of 1200 Euros and in case, you use all of them. Hence, then you will be charged arranged interest of overdraft at 19.89%EAR. The monthly arranged overdraft fee is 6 Euros.

How much can I order online at RBS Select bank?
There are no limits on online purchases. You can shop online and get cash back from retailers.

How to open an RBS Select bank account?
To apply for this account, you must be over 18 and a UK resident. You Record should be clean of bankruptcy. To open up this account, you need to provide anyone document to prove your identity and one document to confirm your residence. You can provide the UK or EU passport or a foreign passport with a UK visa. Driver license can be
provided as well. To prove residence, you need to provide a utility bill or a mortgage statement.

Compliance with opening an account?
You cannot provide a mobile phone bill, TV license, Bills that are sent to other address, and PDF or online bills.

RBS Money Transfer Rates

Is it a complicated process to buy currency?
No, it is easy to buy your currency but keeping the foreign exchange rates in mind.

What are ring-fenced client accounts? and Why we use ring-fenced accounts?

Ring Fencing is a protective transfer of assets from one designation to the other, by using offshore accounting. So, The assets in a ring-fenced client account protected. These may also be used for lowering the tax consequences.

why buy currency instead of using your bank? if a bank then why use?
It helps you avoid the interest and fees. Using cash is safer nowadays with increased incidents of hacking.

Is my money safe with RBS Select bank?
RBS Select bank account has forced the Government to take a bigger stake in the troubled bank which has
risen from 58 to 70%. This has made RBS a safer place for banking because it has substantial taxpayers' backing.

is there a minimum amount I can transact with RBS Select bank?
You can transfer a minimum of £10 but any amount charged a transfer fee.

How long does it take for you to send my money to RBS Select bank?
If you are sending money after 6:30 pm on a weekend or a bank holiday, the payment will leave your account immediately. It will receive another account next day. Other than this time, Payment will leave your account and will be available to the receiver within few hours.

The RBS Bank foreign exchange is a free bank account and the account is free with no monthly banking charges. Also, RBS Select account ideal as it provides an overdraft facility subject to eligibility which is free up to £100 plus a handy chequebook for when cash or cards aren't convenient.

RBS Online Banking Money Transfer

RBS make real-time foreign exchange and money market transactions securely. So, RBS is the online foreign exchange and money market trading system behind this service. With it, you can carry out a wide range of foreign exchange dealing services, including spot, forward and time option contracts.

  • Real-time market access – read our analysis, trade and confirm your transactions all online.
  • Cost savings – complete FX trades electronically, to streamline processes and reduce costs
  • Reduced errors – eliminate paper-based parts of the trading process, to improve speed and accuracy
  • Real-time market information – in a market where speed is of the essence, being able to view market data in real time helps shape success
  • Valuable management data – your business can access comprehensive management reports on your treasury activities
  • Post Trade – You can confirm your deals with RBS real-time on our post-trade application.
  • Transparency – RBS FiX offers transparent benchmark execution offering a flexible framework for centralised global execution and transparency.

Apply Online where you have chosen to apply for RBS Select Bank Account. So, Please ensure you meet the following points as this will make your application more likely approved.

Please Ensure That:
You are at least 18 Years of Age.
You are a permanent resident/citizen of the UK.
Your address and contact details

Proceed With Your Application
So, RBS Select Application process takes approx. 10 minutes to complete. So, These points are simply a guide to the minimum acceptance criteria for the RBS  select bank account. Please ensure you read Natwest copies of the fees and interest rates and terms and conditions that apply to RBS bank accounts. Also, If your application agreed in principle, you will receive your application pack within the next few days.