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Trade Finance

For More information on the full range of Trade Finance services that we can provide,Click here

Remittance Services

Remit money to your loved ones or friends in Bangladesh. For more information Click here
For Remitter and Beneficiary Forms Click here

FSCS



Articles

FAQ

 

Q: How is interest calculated on my account? 

A: Credit interest on your balance is calculated daily at the published rate for your account on the cleared account balance at the close of business.  If you require a detailed explanation of how we calculate interest then please contact us.


Q: When is the interest credited to my account? 

A: Interest is credited to your account in accordance with the terms and conditions of your account. However if you have a fixed deposit with us, interest will be credited upon maturity of the deposit.


Q: What is the cheque clearing cycle and how long does it take? 

A: When you pay a cheque into your saving account it has to be sent to the drawer's bank for payment for that bank to decide if it will honour the cheque. It may not if, for example, the person who gave you the cheque hasn't enough money in their account. This process is known as the central cheque clearing cycle and normally takes five working days after the cheque has been paid in. if you pay a cheque  in to your account on Monday  you can withdraw the fund on the following Tuesday.


Q: How do I send money abroad? 

 I have an account with your bank can I send money to Bangladesh?

A.     Yes. To do this you will have to provide us with full details of the beneficiary, including name and address, and full details of the beneficiary’s bank. You must also provide us with the purpose and nature of the payment. We may not be able to process the payment on the same day we receive your request. However, we will make every effort to ensure that the payment is processed by close of business on the following working day. You can also register as a remitter if you wish to remit money back to Bangladesh. Please see the appropriate page on this website for more information.  Please note that certain formalities relating to compliance with UK money laundering regulation will need to be completed before any remittances are made.


Q: Is there a charge for running my account? 

A: There are no charges for running your account. There are, however, other charges for standard services. However other charges for standard services which are available upon request.


Q: How can I obtain a balance of my account? 

A: You can telephone us for your balance or call into any of our branches to obtain a balance. However, we will disclose this to you only when we have sufficiently identified you.


Q: Will I get a statement of account from you? 


We will provide you with  quarterly statements as at 31st March, 30th June, 30th September and 31st December.




Q: Is my money safe with Sonali Bank (UK) Ltd? 

A: Yes, your money is safe with us. The Bank is a member of the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000.

In the unlikely event of you needing to make a claim, the Financial Services Compensation Scheme guarantees the first £85,000 of your deposits. For joint accounts, the scheme guarantees the first £170,000 of your deposits.

Most depositors, including individuals and corporate, are covered and deposits denominated in all currencies are treated alike.

Further details of the FSCS are available from us or by writing to the FSCS at, 10th Floor, Beaufort House, St. Botoph Street, London, EC3A 7QU. Alternatively, you can visit the FSCS website at www.fscs.org.uk or phone 020 7741 4100 or 08006781100.


Q: How do I make a complaint? 

A: We are committed to providing a high standard of service to you and all our customers. Occasionally we may not live up to our promises and if this happens we want to hear from you.

The Bank is a member of the Financial Ombudsman Service and we have our own internal procedures to deal with any complaints. We will provide you with a copy upon request and they are also available on our website. Further details of the Financial Ombudsman Service scheme can be obtained from us or visit www.financial-ombudsman.org.uk

If you wish to make a complaint about any aspect of our service, please write to:

Deputy Chief Executive Officer

Sonali Bank (UK) Ltd

29-33 Osborn Street

London

E1 6TD

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