1. How do I open a S.T.A.R. account?
Thank you for your interest in opening a BPI Europe GBP STAR account. Among other things, being a BPIE accountholder will allow you to avail of our Online Banking (OL) Remittance Service where you may enjoy utmost convenience, low service charge and instant credit to your beneficiary's BPI account.
Please completely accomplish the enclosed forms and submit these together with the following requirements:
A. For identification documents, at least one of the following:
i. Valid EU Passport;
ii. Valid passport and visa if not EU citizen
B. For proof of address, at least one of the following:
i. Original current bank statements or credit/debit card statements (online statements are NOT
acceptable). Must be the latest document and issued within the preceding 3 months;
ii. Original copy of any of the following utility bills: electricity, gas, and water. Must be the latest document
and issued within the preceding 3 months (mobile phone statement is NOT acceptable).;
iii. Current council tax statement
iv. A recent government issued document, or issued by a judicial authority, a public sector body or
authority or another FCA - regulated form in the UK Financial services sector or equivalent address
such as Her Majesty's Revenue and Customes (HMRC), electoral board.
C. At least GBP50.00 initial deposit (thru bank transfer which will be done when the application has been approved); and
D. Photocopy of National Insurance card or documents indicating your National Insurance number.
You may send your application thru any of these options:
Accomplished Customer Information Sheet
To download a copy of the form, click here.
Mail all to: BPI Europe Plc. 26A and 27A Earl's Court Gardens, London, SW5 0SZ
2. Do I earn interest on my S.T.A.R. Account?
Yes, you do.
The interest rates earned on your S.T.A.R. account computed on your end-of-day (EOD) balance are as follows:
Interest Rate Per Annum
On EOD Balance Below 1000
|On EOD Balance 1000 or higher||Regardless of EOD Balance|
GBP S.T.A.R. Account - Savings
GBP S.T.A.R. Account current
USD S.T.A.R. account
For GBP accounts, the EOD balance should be at least GBP 1,000 for it to earn interest.
Effective 01 October 2016, GBP STAR SAVINGS accounts will earn an interest of 0.25% per annum (from 0.50%pa) for end-of-day balances of at least GBP 1,000.
3. Do I pay tax on interest earned on my S.T.A.R. Account?
Effective 06 April 2016, BPIE will no longer withhold any tax on interest paind on savings and time deposits. Please visit this HMRC link for guidance and more information.
4. How often is interest paid and credited to my S.T.A.R. account?
Interest is calculated daily and credited monthly. No interest will be paid out in the event that you close your account before the date of credit.
5. Do I get a passbook or ATM card for my S.T.A.R. account?
You will not be issued an ATM card nor a passbook for your S.T.A.R. account. You will receive a quarterly bank statement and/or access to Online Banking upon enrollment.
6. How to pay-in to / deposit to / credit your BPI Europe GBP S.T.A.R. Account?
PLEASE NOTE: Your BPIE account will be credited as soon as we verify receipt of your funds/pay in. We will advise you of other pay-in options in due course.
7. How to withdraw from / debit against your BPI Europe GBP S.T.A.R. Account?
8. How to do your remittance transactions (available to BPI Europe Accountholders only):
For certain types of transactions, in compliance with Anti-Money Laundering Regulations, additional documents on proofs of source of funds and purpose of remittance will be requested before processing of your remittance.
Please contact us for further information. (see Terms and Conditions)