Cater Allen Private Bank current accounts review
No matter what type of current account you’re after, Cater Allen Private Bank could have something that suits your needs.

Cater Allen Private Bank offers a range of bank accounts, whether you’re looking for a personal account that can be held in a number of currencies, a more exclusive bank account or something for your business or charity.
To make comparing even easier we came up with the Finder Score. Fees, features and customer service across 20+ of the most popular banks are all weighted and scaled to produce a score out of 10. The higher the score the better the account – simple.
Read the full methodologyIt’s important to have a good idea about the type of current account you’re after before you start to compare them. Below is an overview of the type of accounts Cater Allen Private Bank offers.
This is an exclusive account that offers unlimited free everyday debit transactions each month and offers a small amount of interest on in-credit balances (tiered rates). You can have up to 4 account holders but the account doesn’t offer an overdraft. There is no account fee.
You can transfer funds fee-free between this account and your sterling and euro accounts when held under the same customer number. It also offers unlimited day-to-day debit transactions each month. You cannot set up standing orders or direct debit payments on the account.
You can transfer funds fee-free between this account and your sterling and US dollar accounts when held under the same customer number. It also offers unlimited day-to-day debit transactions each month. You cannot set up standing orders or direct debit payments on the account.
This current account gives you the option of adding your professional advisor as a signatory on the account and a seamless fee payment schedule. It’s designed to help you manage your cash portfolio and offers unlimited everyday debit transactions for free. There is no overdraft on the account.
This business bank account is available in pounds, euros or US dollars and it allows up to 30 fee-free day-to-day debit transactions per month. There are no monthly account fees and you can transfer money between your pounds, euro and US dollar accounts with no conversion charges, provided the accounts are under the same customer number. Interest is paid on balances over £500,000 and there is no overdraft.
Cater Allen also offers a range of more specialist reserve accounts:
This is an account that helps trustees manage funds held in trust on behalf of their clients. It offers up to 30 free day-to-day debit transactions per month.
This is an account for charities that offers up to 30 free day-to-day debit transactions per month and interest on balances above £500,000.
This is an account for pension trustees, scheme administrators and authorised scheme practitioners. It offers up to 30 free day-to-day debit transactions per month and interest on in-credit balances at tiered rates. Money can be moved between pounds, euros and US dollars with no conversion charges when held under the same customer number.
This is a current account for SIPP holders who wish to hold part of their funds in cash. It pays interest on balances and allows transfers to be made from one currency to another without conversion charges.
Depending on the account, you can either open it directly with Cater Allen or via your financial adviser or accountant. You will need to complete an application form and mandate and provide proof of ID, such as a passport, and proof of address, such as a utility bill.
Businesses will also need to supply details about what the business does, including the business start date and registered address. You will also need to provide your actual and anticipated turnover for the next 12 months, the number of employees, your VAT number if you are VAT registered, and your GII number if you are registered as an FI or as a sponsored entity.
Account holders must be 18 or older and a UK resident.
Cater Allen Private Bank is regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) and all funds you deposit with the bank are protected under the Financial Services Compensation Scheme (FSCS).
This protects up to the first £85,000 per person, per financial institution (£170,000 for joint accounts) in the event the bank goes bust.
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Cater Allen Private Bank offers a wide range of current accounts to suit a wide range of requirements. They are particularly attractive due to their lack of monthly or annual account fees, their lack of currency conversion fees and the fact that many accounts pay interest.
However, the downsides include that there are no overdraft facilities and no accounts that offer rewards or cashback. Some accounts also limit the number of free transactions each month. For this reason, it’s a good idea to compare what else is on offer first before deciding whether a Cater Allen Private Bank account is right for you.
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