Coutts has launched what it calls monthly reserve and loyalty reserve accounts, introduced to “significantly enhance the Coutts savings product range”, the UK private bank said.

The accounts also expand the service range as each of the products is offered in euro and dollar, as well as sterling.

The accounts reward clients for holding deposit balances with the bank. The monthly reserve account also offers a “sweep facility” which enables funds to be automatically transferred to it from a client's other accounts held with Coutts should they so wish. 

“We have developed these new accounts in response to clients who wish to hold cash as part of their wealth plan.  The competitive pricing of the EUR and USD accounts are particularly compelling and could be well suited to clients looking to buy properties aboard,” Simon Ridgers, head of banking, credit and treasury products, said.