Fee Structure

When you grow, we grow. Let’s grow together.

 

Date: May 2022

  • This document informs you about the fees for using your Ribbon account.
  • Fees may also apply for using services linked to the account which are not listed here. Full information is available in your terms and conditions.
Service Fee
General account service
Account maintenance fee
  • Monthly maintenance fee
  • £0.00
  • Total annual fee
  • £0.00
Payments (excluding cards)
Sending and receiving money within the UK  
Sending money via FasterPayments 
  • Per payment
  • Free
Sending money via CHAPS
  • Per payment
  • Free
Receiving money in pounds
  • Per payment
  • Free
Sending and receiving money outside the UK  
Sending money in pounds
  • Per payment
  • Free
Receiving money in pounds
  • Per payment
  • Free
Receiving money in a foreign currency
  • Per payment                                         
  • Free
Unpaid direct debit
  • Per payment
  • £1.00
Cards and cash withdrawal
Issuing of debit card
  • Per card
  • Free
Issuing of additional debit card
  • Per card
  • Free
Replacement debit card
  • Per card
  • Free
Card cancellation
  • Per card
  • No charge after 14 days of receiving the card
Inactivity Fee
  • Per Account
  • Free
Debit card payment
  • Per transaction                                                
  • Free

    Debit card payment in a foreign currency

  • Per transaction 
  • Free                                                
Cash withdrawal in pounds in the UK
  • Per withdrawal
  • Free
Cash withdrawal in foreign currency outside the UK
  • Per withdrawal
  • Free
Refusing a payment due to lack of funds
  • Per payment
  • No charge
Loading money on your account and other services
Pay Point load
  • Per load
  • Free
Post Office load
  • Per load
  • Free
ATM balance enquiry
  • Per enquiry
  • Free
ATM declined transaction
  • Per enquiry
  • No charge
ATM Transaction in Euros in Europe
  • Per withdrawal
  • Free
ATM Transaction outside of UK and Europe
  • Per withdrawal
  • Free
Chargeback / Dispute

 query

  • Per Chargeback / Dispute
  • No charge
Paper Statements
  • Per Statement
  • Free

Glossary of terms

Term Definition
ATM balance enquiry You can view the account balance at a cash machine.
Card cancellation Ribbon charges a cancellation fee of GBP 10,  if you cancel the card order within the first 14 days and a card has already been ordered in your name.
Cash withdrawal in foreign currency outside the UK You can take cash out of your account in foreign currency at a cash machine outside the UK.
Cash withdrawal in pounds in the UK You take cash out of your account in pounds at a cash machine in the UK.
Debit card payment in a foreign currency You can use your debit card to make a payment in foreign currency. This can be in a shop, online or over the phone.
Debit card payment in pounds You can use your debit card to make a payment in pounds. This can be in a shop, online or over the phone.
Issuing of debit card Ribbon sends a debit card to you at your UK address
Issuing of additional debit card Ribbon sends a debit card to you for an additional user.
Maintaining the account The account is for use by you
PayPoint Load PayPoint will offer the ability to make cash deposits across a UK retail network to you.
Receiving money in a foreign currency When money is sent to your account from an account overseas or not in British pounds.
Receiving money in pounds

When money is sent to your account from an account in British pounds.

Refusing a payment due to lack of funds Ribbon refuses a payment from your account because there is not enough money in it.
Replacement debit card

Ribbon sends a replacement debit card to you at your request

Sending money outside the UK in British pounds Ribbon transfers money, on your instruction, from your  account to another account outside the UK in British pounds.
Sending money within the UK via CHAPS Ribbon transfers money, on your instruction, from your account to another account in the UK.
Sending money within the UK via Faster Payments Ribbon transfers money, on your instruction, from your account to another account in the UK.
Standing order set up You request that Ribbon makes regular transfers of a fixed amount of money from your account to another account.
Unpaid direct debit You have permitted someone else (recipient) to instruct Ribbon to transfer money from your account to that recipient. Ribbon attempts to transfer money to the recipient on a date agreed by you but there are insufficient funds in your account