The Fees

Fee type Low
risk level
Medium
risk level
High
risk level
Setup £250 £1,000 £1,800
Minimum Monthly Fee £20 £150 £300
Incoming Sepa 0.1% 0.4% 0.8%
Incoming Swift 0.2% 0.5% 1%
Outgoing Sepa £5 £15 £20
Outgoing Swift £35 £45 0.2% min £60
Payset. Internal Transfers £0 £0 £0
FX 1% 1% 1.5%

Extras

Fee type Low
risk level
Medium
risk level
High
risk level
Account Reactivation £250 £400 £600
Dormant Account¹ £100 £100 £100
Additional Account Opening £100 £200 £400

Other services

Reference Letter £100
Refund £30
Custody Fee 0.05% month
Transfer Cancelation £30
Investigation of International Transfer £100
File Update £100
Swift Confirmation £25
1 – Dormant account is an account where no payment transactions (outgoing payments initiated by Customer and/or inward transfers) have been executed over a period of 4 consecutive months. The fee is applicable starting from the fifth month.

The cut-off time for all payment orders is 13.00 GMT. Payment orders received by the cut-off time will be processed by the end of the business day (or, if received on a day which is not a business day, the end of the closest business day); Payment orders received after the cut-off time will be processed by the end of the next business day (or, if received on a day which is not a business day, the end of the next day following the closest business day). Payment orders shall not be processed unless there are cleared funds in the relevant account.

Pay Set Limited charges in GBP, and accordingly it will convert the applicable fees, charges and other costs to the currency of the account to which they are charged (if it is not a GBP account) at Pay Set Limited's prevailing exchange rate.

Pay Set Limited reserves the right to change the fees, charges and other costs and exchange rates, in accordance with the Terms & Conditions and “name of agreement for those services”.

The maintenance fee is payable in full in advance each month, and will not be prorated if the account is closed in the course of the relevant month.

Currency conversion rate: Exchange rate applied by Pay Set Limited, available upon request.