Banks: Fees and Charges

Department for Transport written question – answered on 29th January 2015.

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Photo of Chris Leslie Chris Leslie Shadow Chief Secretary to the Treasury

To ask the Secretary of State for Transport, pursuant to the Answer of 26 January 2015 to Question 221267, which banks charged his Department more than £1,000 in 2013-14; and what the reason was for each such bank charge.

Photo of Claire Perry Claire Perry Parliamentary Under-Secretary (Department for Transport)

The banks that charged more than £1,000 in 2013-14; and the reason for each such bank chargeare listed in the table below:

Which Bank charged the Department more than £1000

Reason

RBS

This is the payment made for the running of British Transport Police accounts including charges for BACS and CHAPS payments

International Banks around the Globe

VCA has a global presence and uses a number of commercial banks to conduct its Business. The bank charges cover normal commercial transaction costs and currency conversion charges.

Barclays

Barclays provides banking services ranging from quarterly commitments fees, credit facilities, overdraft facilities and interest charges on Swaps to a number of external Entities within the Group

Barclaycard Expenses

VCA has a global presence and uses a number of commercial banks to conduct its Business. The bank charges cover normal commercial transaction costs and currency conversion charges.

Bank of England

The Bank of England charges the Department for using the Government Banking Service. The costs incurred relate to the production of e.g. high volumes of payable orders through these bank accounts.

Royal Bank of Scotland

Bank charges for general transaction and account administration fees.

Lloyds

HS2 Ltd operates a Commercial Bank Account with Lloyds and incurred transaction charges for making and receiving payments in the ordinary course of business.

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