Harrods Bank
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Operating from Harrods Stores in Knightsbridge, Harrods Bank is a private, personalized bank that started operations in 1893. As of 15th October, 2009, Harrods started selling gold bars and coins available ‘off the shelf.’ These gold products come in different weights ranging from 1g to 12.5 kg and are available at any Harrods branch. They also offer storage services and buys back gold products, as well.[br]
Harrods Bank: Products and Services
Be it current accounts, loans, mortgages or studies account, Harrods bank offers almost all the products that other mainstream banks do. Below is the list:
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High Value Current Account: This account offers instant access along with interest on cleared balances of ₤2,500. The interest is paid on a tiered basis and account maintenance doesn’t cost any amount if the account maintains a certain balance.
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High Value Deposit Account: These accounts offer monthly income and competitive interest rates on sums of ₤5,000. Withdrawals are subjected to 35 days’ notice.
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High Value Capital Account: These accounts offer higher interest rates on amounts bigger than, or equal to, £10,000. The withdrawal notice is 90 days.
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Harrods Bank Card: This card lets consumers guarantee cheques up to £100 or withdraw up to £250 in a day.
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Foreign currency and traveler’s cheques: Account holders can buy or sell foreign currency with out any charges at competitive rates. The bank also manages payments abroad and issues travelers cheques for their account holders.[br]
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Personal loans, mortgages and overdrafts: The bank provides mortgages on variable rates for second homes or owner-occupied homes. The bank also provides ‘Buy to Let’ mortgages.
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Personal codeword identification: This prevents fraud and lets consumers discuss financial matters over the phone. Through this service, consumers can verify transactions and request for products.
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Professional Studies Account: This account lets parents or grandparents save money for their kids. The money in the account is transferred to the child when he/she turns 16.
Harrods bank doesn’t offer any online application facility therefore people interested in opening an account with them need to visit their branches in person.
