Client banking and interest rates
If your Hornbuckle Self-Invested Personal Pension (SIPP) has a designated account with Bank of Scotland all payments in your plan will be received into that account before being invested in accordance with your (via your adviser) instructions.
Interest on scheme bank accounts held with Bank of Scotland is compounded and credited monthly (gross). In the current climate the amount of interest paid to your account is 0.0%.
We also provide an alternative interest rate through Metro Bank. In order for our pension members to benefit from this rate we will provide access to an interest-bearing account. Any cash paid into the Bank of Scotland account, which isn’t to be immediately invested, will be placed in the Metro Bank account on a daily basis. Interest on scheme bank accounts held with Metro Bank is compounded and credited monthly (gross). In the current climate the amount of interest paid to your account is 0.0%.
Note that base rate fluctuations may result in interest rate variation for accounts held with both Bank of Scotland and Metro Bank.
The terms of our agreements with Bank of Scotland and Metro Bank involve us undertaking aspects of bank account management, for which we may receive a payment.
The Metro Bank interest rate is not available for any members in a Hornbuckle SSAS, FIPP or Group SIPP. If you are a member of one of these schemes and want to find out more about the rates we offer, or if you have any questions based on the information given above, you can contact our Client Servicing team on 0844 728 9090 or email us at firstname.lastname@example.org.
Here you will find all documents related to the ongoing operation of your SIPP bank account. Simply click below buttons to view the documents you need in PDF format.
Next, complete and sign the documents then send them to our Client Servicing Team.
Bank of Scotland documents
Direct debit mandates