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Useful information
Royalties Current Account
Valuable cover, savings
and much more
With built in mobile phone insurance, travel savings and more, your Royalties Current Account could come in very handy indeed.
Protection - register for Mobile Phone insurance and you're covered for one mobile phone and SIM card against accidental or malicious damage, loss and theft up to a value of £300. 
Travel - save 10% on flights, holidays and more booked through Royalties Membership Services. 
Entertainment - 25% discount on concert tickets when you book through Royalties Membership Services. 
Banking - unlimited use of complimentary mobile phone banking and text alerts.
- The monthly fee for the Royalties current account is £6.95.
- Apply online for this account
- Show me all the Royalties benefits
Travel benefits
- Holidays with 10% off - save on packaged holidays, city breaks, tours or cruises operated by licensed major tour operators. Simply book through Royalties Membership Services.
- Other travel savings - save at least 10% on scheduled or charted airline tickets, ferries, car hire, cottages and hotels when you book through Royalties Membership Services.
- Travel money - preferential rates and complimentary delivery on commission-free travel currency, when you order through Royalties Membership Services.
- Overseas money - get money in local currency at cash machines wherever you see the Cirrus or Maestro logo. You can also use your card to buy goods wherever you see the Maestro logo.
Protection benefits
- Mobile Phone Insurance - you're covered for one mobile phone and SIM card against accidental or malicious damage, loss and theft up to a maximum retail value of £300 (including VAT). You're also covered for up to £1000 (including VAT) of unauthorised calls per claim for a pay monthly phone and up to £100(including VAT) for a pay as you go phone. (Cover commences 21 days after registration).
- Home insurance - save 25% in the first year.
- Car breakdown cover - complimentary cover when you take out Royalties Motor Insurance. Includes extras like home breakdown cover and car hire cover from Green Flag.
- Numbers Vault ™ - our Numbers Vault service lets you safely store information from your mobile phone in a secure online environment that you can access whenever or wherever you like. Allowing you to transfer your stored information onto your mobile as and when you need to.
- Protect your loved ones - £10,000 accidental death insurance. £100,000 if you are travelling as a fare-paying or pass-bearing passenger on licensed transport such as trains or planes. For Joint Royalties account holders, the cover is split equally amongst the account holders. For persons aged 70 or over Accidental Death Insurance is reduced by 50%, although passenger cover stays the same.
Entertainment benefits
- Tickets for 25% less - book up to two tickets for any one event - including plays, concerts, stand-up comedy, musicals and exhibitions. Available when you book through Royalties Membership Services.
- Days out for less - discounts at big name UK attractions and activities when you book through Royalties Membership Services.
- Dine out for 25% less - save on your food and drinks bill when you book one of 450 UK restaurants through Royalties Membership Services or online.
Banking benefits
- Complimentary Mobile Phone Banking and Text Alerts - you can now enjoy the freedom and flexibility of our safe and secure mobile phone banking and text alert service, giving you fast access to your account information.
- Protect your cards - with just one call, you and your household are protected when any registered debit or credit card is lost or stolen. Lose your cards abroad, and we can advance you up to £250 in emergency cash and supply replacement airline tickets up to the value of £3000*.
- Borrowing - tailored rates on credit cards, mortgages and personal loans (except online loans).
- Lower cost overdrafts - pay no arrangement or renewal fees on overdrafts up to £15,000. And pay no interest on agreed overdrafts of up to £100.
- Boost your savings - earn a bonus of 0.25% interest on our Instant Access Savings Account (this is not paid if you close your Royalties account).
- Online banking - manage your money 24 hours a day, 365 days a year with our telephone and internet banking services. System updates will mean that the transactional service for our internet and telephone services is unavailable for short periods in the early hours of the morning.
- Easy access to your money - your debit card gives you access to almost every cash machine in the UK. And where you see the Maestro logo, you can pay for goods and services.
- Emergency Cash - complimentary use of our Emergency Cash service allows you to get money out from a cash machine without a card anytime, day or night should your debit card be lost or stolen.
*Cash advances are subject to status and are interest free provided they are paid back within one calendar month of receipt.
Potential Savings
| Account Benefit | Potential Saving |
|---|---|
| Travel Service | £89 |
| Gigs and show tickets | £34 |
| Mobile Phone Insurance | £92 |
| 25% off first year’s Home Insurance | £57 |
| Accidental Death Insurance | £12 |
| Card Protection | £20 |
| Numbers Vault™ | £24 |
| Total Value | £328 |
| Less Annual membership Fee | £83.40 |
| Savings worth up to | £245 |
The examples are for illustration purposes only and are not based on actual RBS customers. The savings shown are representative of those that can be achieved by opening a Royalties Account.
Travel Service
10% on selected flights and holidays. Saving based on 2 adults travelling with Thomas Cook holidays – departing Glasgow on 1 March 2008 flying to Alicante for 14 nights.
Gigs & Shows
25% discount on UK gigs and live show tickets when booked through Royalties Membership Services.
Mobile Phone Insurance
Cover for 1 mobile phone up to £300 and SIM card against loss, theft and accidental damage.
25% off Home Insurance
Example based on a 25 year old insuring a 3 bedroom semi-detached house of standard construction built 1946-1979, with double glazing and in good repair, in postcodes EH49 6QG or LS18 5PA.
Accidental Death Insurance
Receive an automatic £10,000 worth of cover up to the age of 69.
Card Protection
Register all your household’s UK-issued debit and credit cards
Numbers Vault™
Savings based on Phones 4u standalone option £1.99 per month (March 08).
Interest Rates
Interest we pay you
The annual rates of interest paid on credit balances are as follows:
Calculation and application of interest
Interest is calculated on a daily basis and paid into your account once a month, usually the day after we send your statement to you. The exceptions to this are our Key and Cash Accounts, where interest is paid on the first day of each month.
| Gross Rate % | AER % | Net rate % |
|---|---|---|
| 0.15 | 0.15 | 0.12 |
Interest due on overdrawn balances
Arranged Overdrafts
The following rates are effective from 28/04/08
| Amount | Monthly % | EAR % |
|---|---|---|
| All amounts | 1.40 | 18.20 |
| 18.20% EAR typical | ||
Calculation and application of interest
Interest is calculated on a daily basis and paid into your account once a month, usually the day after we send your statement to you. The exceptions to this are our Key and Cash Accounts, where interest is paid on the first day of each month.
Gross rate
Gross rate means the rate you are paid before the deduction of tax.
Annual Equivalent Rate (AER)
This is the notional rate used for interest bearing accounts which illustrates what the gross credit interest rate (excluding any bonus interest payable) would be if paid and compounded on an annual basis. It helps you to compare the effective rates of credit interest on different accounts.
Net Rate
This means the interest rate paid after deduction of tax.
Effective Annual Rate of Interest (EAR)
This is the real annual cost of an overdraft stated as annual rate which takes into account how often interest is charged to the account. All other charges, for example arrangement fees, are shown separately from the EAR.
Unarranged overdrafts
Any amount overdrawn without an arranged overdraft or in excess of the arranged overdraft limit will be charged at a rate of 2.2% per month, which is equivalent to 29.84% EAR Typical (variable). However, we will not charge interest on any part of the overdrawn balance which represents a Default Notice Fee or other sum (apart from interest) you must pay us in connection with a breach of your obligations under your agreement with us; or a Maintenance Charge, Paid Referral Fee, Guaranteed Card Payment Fee or Unpaid Item Fee.
Historic Credit Interest Rates
| Previous Rate | Current Rate (effective from 02/10/06) | |
|---|---|---|
| Annual Gross Rate % | 0.20 | 0.15 |
| Gross / AER % | 0.20 | 0.15 |
| Net Rate % | 0.16 | 0.12 |
| Unarranged overdrafts and unpaid items - charges | Fee amount |
|---|---|
| Maintenance Charge | |
| If your account becomes overdrawn without prior arrangement or any arranged overdraft limit is exceeded, you will be liable for a monthly Maintenance Charge. The Maintenance Charge will be applied if you have an unarranged overdraft at any time during a monthly charging period. The charging period normally ends on the date that we send your statement to you. | £28 (£10 for R21**, Student Royalties, and Graduate Royalties) |
| When charged 16 days after the end of the charging period (or the next business day if this is a Saturday, Sunday or Bank Holiday). | |
| Paid Referral Fee | |
| A Paid Referral Fee will be payable if: you informally request an overdraft by issuing instructions for a withdrawal or other payment on your account; and the payment cannot be met from the funds in your account or any unused arranged overdraft facility; and an unarranged overdraft is created or increased because we decide we are willing to accept your request. | £30 for each day on which a Paid Referral occurs (subject to a maximum of £90 in any calendar month) |
| When charged On the sixth business day of the calendar month after the calendar month in which the transaction(s) took place. | |
| Guaranteed Card Payment Fee | |
| A Guaranteed Card Payment Fee will be payable if: you informally request an overdraft by issuing instructions for a withdrawal or other payment on your account; and the payment cannot be met from the funds in your account or any unused arranged overdraft facility; and we decide we are not willing to accept your request but nonetheless accept it because we find that you have guaranteed payment by the use of a cheque guarantee card or debit card. | £35 for each transaction |
| When charged At the time the transaction is paid or taken from your account. | |
| Unpaid Item Fee | |
| An Unpaid Item Fee will be payable if: you informally request an overdraft by issuing instructions for a withdrawal or other payment; and the payment cannot be met from the funds in your account or any unused arranged overdraft facility; and we decide in our discretion not to make the payment. | £38 for each item (subject to a maximum of £114 per day) |
| When charged At the time we decide not to make the payment. | |
| Making an informal request for an overdraft means that you will have to pay a Paid Referral Fee, a Guaranteed Card Payment Fee or an Unpaid Item Fee. If an unarranged overdraft arises, you will also have to pay the Maintenance Charge and interest on the amount overdrawn. However, we will not charge interest on any part of the overdrawn balance which represents either (i) a Default Notice Fee or other sum (apart from interest) you must pay us in connection with a breach of your obligations under your agreement with us; or (ii) a Maintenance Charge, Paid Referral Fee, Guaranteed Card Payment Fee or Unpaid Item Fee. | |
| Enforcement | |
| A Default Notice Fee will be payable if we need to serve a default notice on you (for example, if you fail to repay your overdraft on demand or we wish to enforce any security we hold). This is in addition to any other charges that may apply. | £30 per notice |
| When charged Within four days of the Default Notice being served. | |
** R21 Account is not available to new customers
Important Information
A monthly fee of £6.95 for Royalties is payable. The monthly membership fee will be applied 16 days after the end of the charging period (or on the next business day if this is a Saturday, Sunday or Bank Holiday) and will appear on your account statement as “CHG”. The charging period normally ends on the date that we send your statement to you.
Conditions apply to benefits. Full details of all the Royalties account benefits are contained in the Service Guide you will receive after you convert your account.
New customers will be asked to provide proof of identity, verification of address and signature. System updates will mean that our Internet and telephone banking services are unavailable for short periods in the early hours of the morning.
Credit facilities
Over 18s only.
Royalties Motor and Home Insurance
Royalties Motor Insurance and Home Insurance are underwritten by UK Insurance Limited. Breakdown Assistance is provided by Green Flag Motoring Assistance. All are members of The Royal Bank of Scotland Group. UK Insurance Limited is authorised and regulated by the Financial Services Authority. Registered Office: The Wharf, Neville Street, Leeds LS1 4AZ. Registered in England No. 1179980. Cover is subject to their normal acceptance criteria.
Royalties Payment Card Protection
Royalties Membership Services is operated by Affinion International Limited acting as agents for the Royal Bank of Scotland plc.
Sentinel® Card Protection is a trading name and registered trademark of Affinion International Limited. Registered address: Charter Court, 50 Windsor Road, Slough, SL1 2EJ, United Kingdom. Registered in England No. 1008797. Affinion International Limited is authorised and regulated by the Financial Services Authority in respect of insurance mediation activities only. Affinion acts as an intermediary for arranging the insurance and provides the administration of the card registration and associated services.
This insurance is underwritten by Allianz Insurance plc Registered in England No. 84638. Registered Office: 57 Ladymead, Guildford, Surrey, GU1 1DB, United Kingdom. Branch Address: Allianz Schemes, Allianz House, 6 Vale Avenue, Tunbridge Wells, TN1 1EH, United Kingdom. Allianz Insurance plc is authorised and regulated by the Financial Services Authority (FSA). Their authorisation can be confirmed by the FSA by calling 0845 606 1234 or at www.fsa.gov.uk. Their FSA registration number is 121849.
Royalties Payment Card Protection is subject to Terms and Conditions, a copy of which is available in the back of the service guide you will receive after you convert your account.
- Apply online for this account
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