Eligibility
Holders of a Capital Treasury Account
Minimum balance
£3m, €3m, $3m
Overdraft facility
Not available
Inward and outward payment capability
No – funding from CTA only and transfer to CTA only (instructions via secure messages).
Outward payment cut off times
N/A - outward payments cannot be made from LFA accounts. Funds must be transferred from the LFA to the CTA for onward payment from the CTA.
Inward payments cut off times
N/A - you cannot send funds directly to an LFA. LFA accounts can only be funded by internal transfer from a CTA account
Internal transfer cut off times
LFA to CTA - 11:00am (T+1 settlement, subject to receipt of funds from recipient Bank)
CTA to LFA - 11:00am (T+1 settlement, subject to receipt of funds by recipient Bank)
Interest accrual application
Daily accrual, applied monthly
Interest Payment
Applied to account only
Interest rate change notice period
Immediate – based on daily effective rate with recipient bank
Risk
Customer assumes risk of the recipient bank failing
Covered by Depositors Compensation Scheme?
No
