Ivobank loyalty program - be rewarded for transacting
How does it work?
The loyalty program has three tiers. Open an Ivobank Account before 7 January 2009 and you'll move instantly into our Gold tier*.
What extra benefits will I receive?
- Higher interest rate on money held in your Ivobank Savings Account
- Lower transaction fees
You'll receive great benefits such as:
Ivobank interest rates
| Loyalty Tier | £ |
€ |
CAD $ |
|||
|---|---|---|---|---|---|---|
| AER | Gross p.a. | AER | Gross p.a. | AER | Gross p.a. | |
| Gold | 4.00% | 3.93% | 3.25% | 3.20% | 2.00% | 1.98% |
| Silver | 3.75% | 3.69% | 3.00% | 2.96% | 1.75% | 1.74% |
| Bronze | 3.50% | 3.45% | 2.75% | 2.72% | 1.50% | 1.49% |
Annual Equivalent Rate (AER) illustrates what the interest rate would be if interest was paid and compounded once a year. The Gross p.a. is the contractual rate of interest (expressed as a percentage per annum) payable before the deduction of income tax at the rate specified by law.
Cash deposited into your Ivobank Savings Account will earn interest from the following business day. Interest is calculated according to your Ivobank loyalty tier. Rates are subject to variation. Interest is calculated daily based on: (a) the applicable annual equivalent interest rate (AER); and (b) the balance held in your Ivobank Savings Account at the end of each day. Interest is paid into your Ivobank Savings Account each calendar month on the business day we issue your Ivobank online statement.
The interest rates shown are correct as of 30 October 2008.
Lower Transaction Fees
| Loyalty tier | Bank Transfer (Deposit fee) |
Credit/Debit Card (Deposit fee) |
Pay Now** (Deposit fee) |
SWIFT (Withdrawal fee) |
|---|---|---|---|---|
| Gold | 0% | 0% | 6.90% | £30 |
| Silver | 0% | 0% | 7.10% | £30 |
| Bronze | 0% | 0% | 7.30% | £30 |
Credit/Debit Card deposit fees usually: 2.00% (Gold), 2.25% (Silver) and 2.50% (Bronze).
Merchant & foreign exchange fees may apply.
*All accounts opened after the 7 January 2009 will start in the bronze tier.
**Pay Now; is currently only available in the UK, Ireland and Spain. The minimum Pay Now transaction amount is £30 in UK, €30 in Ireland and €30 in Spain.
