Zurich Financial Services has launched an online banking service that is available direct through th...
Zurich Financial Services has launched an online banking service that is available direct through the website, zurichbank.co.uk, or via the Zurich Advice Network.
The banking operation is the first product initiated from a joint venture with Bank of Scotland. Plans for other products such as mortgage and loans under the joint venture are underway.
The banking service comprise of a bank account that tracks interest rates at 0.5% below the Bank of England's base rate for the life of the account. The rate is currently at 3.5%. The account offers a £250 automatic fee-free overdraft facility and 5% above the BOE's base rate, currently 9%.
Customers can choose to use the account as a savings or current account, and can also ring-fence savings through a sub account if desirable. A telephone banking support service is available seven days a week and 24 hours a day.
Despite improved risk appetite
FOS award limit increase
Relates to 136 million transaction reports
Ceremony will take place 13 November