Simple and
Straightforward
Banking

21-06-2024
Exchange Rate
GBP/INR 103.60 less than £250 104.95 £250 to £1999 105.05 £2000 to £4999 105.10 £5000 to £9999
USD/INR 82.86 Up to $2000
21-06-2024Exchange Rate
GBP/INR 103.60 less than £250
104.95 £250 to £1999 105.05 £2000 to £4999 105.10 £5000 to £9999
USD/INR 82.86 Up to $2000
We are making changes to our schedule of service charges and tariffs for Business and Individual accounts effective 01 April 2024. The new tariff will contain updates to account maintenance fees, transaction charges for deposits, withdrawals, and transfers, as well as changes to fees for other services. Please click on this link for more details : Union Bank of India (UK) LTD > Service Charges
Home>Personal Banking>Current Account

Current Account

Who can open Current Account:

 

  • Individual aged 18 years & above
  • Joint Individuals aged 18 years & above
  • There is no minimum balance required to open this account.
  • Quarterly average balance of £100.00/$100.00/€100.00 is required based on currency of the account.
  • Serviced by branch banking (visit to the branch)
  • Free cheque books & free pay-in slips will be provided.
  • Free Account statement once every month through e-mail
  • Free Internet Banking facility (View facility only)
  • Free cash deposit up to £1000.00 per quarter
  • Free set up of Standing Orders/Direct Debits
  • Deposits guaranteed under FSCS subject to eligibility norms
  • No interest is paid on the balances maintained in the current account.

Account specific

Non-Maintenance Charge for Minimum Balance
Minimum Quarterly Average Balance (MQAB):
For Savings A/c: No MQAB requirement for Savings A/c
For Current A/c: Non maintenance of MQAB of £250/$500/€500 respectively for £/$/€ accounts
Non-Maintenance Charge for Minimum Balance
Minimum Quarterly Average Balance (MQAB):
For Savings A/c: No MQAB requirement for Savings A/c
For Current A/c: Non maintenance of MQAB of £250/$500/€500 respectively for £/$/€ accounts
Nil for savings accounts

£10/$10/€10 per quarter
. Issue of Cheque Book/Pay-in books (Cheque Book can be issued in £ GBP denominated Current Accounts only)
. Issue of Cheque Book/Pay-in books (Cheque Book can be issued in £ GBP denominated Current Accounts only)
01 cheque book of 20 leaves per year will be issued free,

There after £5 will be charged for each cheque book of 20 leaves
Issue of statement of account for current month or latest 12 calendar months through e-mail
Issue of statement of account for current month or latest 12 calendar months through e-mail
Free
Issue of statement of account by email older than 12 calendar months
Issue of statement of account by email older than 12 calendar months
Minimum £5.00/$5.00/€5.00 per Statement
Issue of statement of account by post on specific request for latest 12 calendar months
Issue of statement of account by post on specific request for latest 12 calendar months
Minimum £5.00/$5.00/€5.00 per Statement
Issue of statement of account by post older than latest 12 calendar months
Issue of statement of account by post older than latest 12 calendar months
£10.00/$10.00/€10.00 per statement
Standing Order / Direct Debit setup and cancellation
Standing Order / Direct Debit setup and cancellation
Free
Internet Banking Services (View Only facility)
Internet Banking Services (View Only facility)
Free
Cash Withdrawal charges

(for withdrawals more than £2000, One Working Day advance notice will be required)
Cash Withdrawal charges (for withdrawals more than £2000, One Working Day advance notice will be required)
Up-to £1000.00/$1000.00/€1000.00-Free
Above £1000.00/$1000.00/€1000.00- £3.00/$3.00/€3.00 per thousand or part thereof, minimum £3.00
Cash Deposit for all currency (GBP/USD/EUR)
Cash Deposit for all currency (GBP/USD/EUR)
(Free up to £1000 per quarter)

Thereafter £2.00/$2.00/€2.00 per thousand or part of
Direct Debit Returned Unpaid
Direct Debit Returned Unpaid
£12.00 per return
Cheque Returned Unpaid (Inward & Outward)
Cheque Returned Unpaid (Inward & Outward)
£10.00/$10.00/€10.00 per return
Stop Payment of cheque / Direct debit
Stop Payment of cheque / Direct debit
£10.00/$10.00/€10.00 per cheque
Special Presentation of cheques
Special Presentation of cheques
£15.00/$15/€15 per presentation
Transaction Charges (Internal Transfer in accounts with bank)
Transaction Charges (Internal Transfer in accounts with bank)
Free
Interest rate on Unarranged overdraft in the Account
Interest rate on Unarranged overdraft in the Account
18.00% per Annum (P.A)
Issue of Banker's cheque
Issue of Banker's cheque
£15
Foreign Cheque collection charges (Euro)
Foreign Cheque collection charges (Euro)
£25 + foreign bank charge

Payments

Payment through CHAPS
Payment through CHAPS
£25.00 per payment
Payment through Faster Payment Services (FPS)
Payment through Faster Payment Services (FPS)
£3.00 per payment
International Payments through SWIFT (Charges are as per the payment currency)

a) Outward (Charge)
b) Inward (Free)
International Payments through SWIFT (Charges are as per the payment currency)

a) Outward (Charge)
b) Inward (Free)
£25/$50/€50 per payment + Foreign Bank Charges, if any
Amendment / Cancellation / Recall of Payment Instructions
Amendment / Cancellation / Recall of Payment Instructions
£15.00/$30.00/€25.00 per instruction
Copy of SWIFT/CHAPS transfer (receipt)
Copy of SWIFT/CHAPS transfer (receipt)
Free

Indian Rupee Money Transfer

To accounts with Union Bank of India
To accounts with Union Bank of India
Free
To accounts with other banks in India
To accounts with other banks in India
£7.00/$7.00/€7.00 per instruction
Amendment / Cancellation / Recall of Payment Instructions
Amendment / Cancellation / Recall of Payment Instructions
£15.00/$30.00/€25.00 per instruction
Copy of SWIFT/CHAPS transfer (receipt)
Copy of SWIFT/CHAPS transfer (receipt)
Free

Miscellaneous

Issue of Balance Certificate
Issue of Balance Certificate
£10.00/$10.00/€10.00 per certificate
Issue of Interest Certificate
Issue of Interest Certificate
Free for original one,

For Duplicate £10.00/$10.00/€10.00 per certificate
Certificate of Confirmation of Deposit / Receipt of funds
Certificate of Confirmation of Deposit / Receipt of funds
£10.00/$10.00/€10.00 per request
Bankers Reference Letter (Status Enquiry)
Bankers Reference Letter (Status Enquiry)
£20.00 /$20.00 /€20.00 per request
Communication Charges
Communication Charges
Postage: £10
Courier: £20
Swift: £25 (applicable in all other cases if not specifically mentioned above)

 

Notes: for your information

  1. "£" is used for GBP, "€" is used for EURO and "$" is used for USD
  2. Cheque books are issued only in case of GBP Current Account for individual Accounts.
  3. These schedules of charges form part of General terms and conditions that apply to your account.
  4. In case of any discrepancy in the bank charges or if it is not consistent with the contract with you, please bring to the notice of the bank immediately.
  5. The Bank reserves the right to amend the schedule of charges, however, a notice will be provided on our website for 2 months before any change to take place.
  6. In case of business denominated in £ GBP, $ USD and € EURO, the charges would be recovered in respective currencies. In case € EURO/ $ USD rates are not mentioned, the tariff would be computed taking £ GBP equivalent of the currency concerned.
  7. New Account in € Euro Currency are discontinued, said charges / minimum balance requirements for existing € EURO accounts only.
  8. Bank provides Cheque clearing facility for £ GBP Currency only.
  9. Bank provides Cash withdrawal / Deposit facility for £ GBP Currency only. Cash withdrawals in currencies other than GBP currency are entirely at Bank’s discretion.

You may open current account with us either by visiting our branch in person or by sending completely filled and signed application forms with supporting documents to us.

 

Note: Online copies, mobile phone bills & credit card statement are not accepted.

 

To proceed for account opening, click here to download this form and submit it to below address:

 

Attn: AOF

Union Bank of India UK ltd

12 Arthur Street

London EC4R 9AB

 

For any assistance for opening of account, please contact us on +44(0)2073324250 or email us on

Documentation Required:

Group A: Proof of Identity (anyone):

  • Copy of the Valid passport with a minimum period of 6 months to expiry.
  • Copy of the current full UK photo driving license (with counterpart).

 

Group B: Proof of Address: (anyone):

  • Copy of recent (not older than 3 months) postal UK Bank account statement or UK Full driving license (If not used an ID proof) or postal copy of utility bill (telephone, gas, electricity, water, council tax, T.V License) with full name and address.
  • Additionally, bank may ask for proof of source of wealth/fund to its satisfaction.
  • If application is sent through post, we will require a minimum £100 cheque from the applicants UK bank account for initial funding purpose.
  • If application is submitted by in person visit to the Bank, we will require a minimum deposit of £100 post opening of the account from the applicants UK bank account for initial funding purpose.

 

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