Yorkshire Guernsey has launched a commission-paying bank account only available through brokers.
The Broker Exclusive Offshore Tracker Account will give investors a higher interest rate than they could get from opening a Yorkshire Guernsey Global Access Account, currently the only other standard deposit account.
Like the Global Access Account, the eligible investors are private individuals, joint account holders, private investment companies, trustees (including corporate trustees), pensions schemes, sole traders, partnerships and non-trading limited companies registered in the UK and its offshore dependencies only.
Investors can access their funds through a password- protected phone call at any time, anywhere in the world.
The account offers investors a variable rate of interest equal to the Bank of England"s base rate so long as a minimum balance of £50,000 is sustained and transactions are conducted with a minimum value of £20,000. Brokers will receive 10 basis points initial commission, provided the total of client accounts introduced maintains a minimum balance of £1m per quarter. Further commission will be payable to the broker if the investor increases the balance on their account.
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