The Arbuthnot Latham Deferred Debit Card gives you access to your Arbuthnot Latham bank accounts in order to pay for goods and services, and to withdraw cash from an ATM both in the UK and abroad. The Deferred Debit Card is issued with no annual fee, and Arbuthnot Latham will not charge you for ATM transactions within the UK.

Unlike a traditional debit card, purchases made at a retailer will not be debited from your account immediately. As a result, you can continue to earn interest on the monies in your bank account for up to a month. Cash withdrawals are immediately debited from your Peacock Current Account.

On the 15th of the month, the cumulative amount you have spent at retailers will be debited from your account.

Please note: this is not a Credit Card. The available spend on your Card is equal to the available instant cash balances and overdrafts of your accounts.

 

How does the Deferred Debit Card work?

Your Deferred Debit Card is linked to your accounts and you will be able to spend the total of any instant access cash on your account, including overdrafts.

When you use your Deferred Debit Card to purchase goods or services, the retailer is paid immediately, but your account is not debited. Instead the transaction is posted to your Deferred Debit Card Account, which you can view on your internet banking. Although the money you have spent at the retailer does not leave your personal account, the funds available to spend on your Deferred Debit Card are reduced. If there is insufficient money in your Peacock Account, your Private Banker will call to discuss your payment options.

On the 15th of the month all transactions will be debited from your Peacock Account and the balance of your Peacock Account will be reduced.

Deferred Debit Card