Rowanmoor Pensions will open a bank account for your SIPP with The Royal Bank of Scotland plc. All cash payments to and from your SIPP will be via this account.

Rowanmoor Trustees Limited, as trustee, is sole signatory to the SIPP bank account and Rowanmoor Pensions administers its day-to-day operation under instruction from the SIPP member, or their financial adviser.

You can monitor activity on your SIPP bank account by signing up for our online SIPPView service.

It is your responsibility to ensure that there is sufficient cash in your SIPP bank account to meet your investment requirements, associated fees, pension benefits and any other outgoing payments.

The Rowanmoor Pensions Self-Invested Personal Pensions scheme bank interest is payable at bank base rate minus 0.875% (subject to a minimum of 0.12% p.a.). It is compounded and credited monthly (gross).

The current interest rate on SIPP bank accounts is 0.12% p.a. (as at 19 May 2012).

Rowanmoor Pensions does not restrict the number of other bank accounts, which can be opened for investment purposes.

This information relates to the Rowanmoor Pensions Self-Invested Personal Pension (SIPP). If you would like to know more details about the information provided on this page, please send your questions via the enquiry box on the right hand side or email us. Alternatively please visit our SIPP literature library.