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B&C | 30 King Street | London EC2V 8EH | UK | T +44 (0) 808 164 8040 | www.bankandclients.com
B&C is the trading name of Bank and Clients Plc, which is authorised by the Prudential Regulation Authority (PRA) and regulated by the PRA and the Financial Conduct Authority. Registered office: 30 King Street London EC2V 8EH UK. Financial Services Register number 204459. Company number 00980698.
V6 – March 2020
90 Day Notice Cash ISA Account
KEY ACCOUNT FEATURES
Page | 2
Key Account Features
This document (“Key Account Features”) sets out the key features of the Bank and Clients Plc 90 Day Notice Cash ISA Account, which you are applying for, or already hold. These Key Account Features contain general information about the 90 Day Notice Cash ISA Account as well as some specific terms which apply to this type of account in addition to the Cash ISA General Terms and Conditions, which you have been provided with. The Key Account Features should be read in conjunction with the Cash ISA General Terms and Conditions, which contain more detailed information about the rights and obligations, set out below. Together, the Key Account Features and the Cash ISA General Terms and Conditions form the basis of Our Agreement relating to Your Account. Capitalised terms used but not otherwise defined in this document shall have the meaning given to them in the Cash ISA General Terms and Conditions. In the case of any conflict between the Cash ISA General Terms and Conditions and the product specific terms set out below, these provisions of the Key Account Features will take precedence.
Name of Product 90 Day Notice Cash ISA Account
Term of Agreement Our Agreement carries no fixed term and will continue unless and until we or you decide to cancel or terminate it in accordance with the Cash ISA General Terms and Conditions.
Interest Rate 0.85%. We may reduce our rates on two months’ notice by issuing a Variation Notice.
Interest Payment Date
Interest you earn on Your Account will be credited to Your Account once a year on or close to 15 April.
Deposits or Transfers In
You may make deposits into Your Account by cheque or bank transfer in accordance with the Cash ISA General Terms and Conditions.
Minimum opening deposit
£1,000
Maximum deposit* £85,000
Estimated Balance at maturity based on £1,000 investment
£ 1,008.50
Tax Status Interest on a Cash ISA is paid free of tax.
“Cooling Off” Period
You have the right to cancel your account within 14 calendar days of opening it in accordance with the Cash ISA General Terms and Conditions.
Withdrawals, Transfers or Closure Notice Period
In order to make a withdrawal, from Your Account you must provide us with 90 days’ notice in writing. Withdrawals without notice are permitted subject to a loss of 90 days interest.
Annual Equivalent Rate (AER)
0.85%
* All your eligible deposits at B&C are “aggregated” and the total, which is protected by the Financial Services Compensation Scheme (“FSCS”), is subject to a limit of £85,000 or £170,000 for joint accounts
B&C | 30 King Street | London EC2V 8EH | UK | T +44 (0) 808 164 8040 | www.bankandclients.com B&C is the trading name of Bank and Clients Plc, which is authorised by the Prudential Regulation Authority (PRA) and regulated by the PRA and the Financial Conduct Authority. Registered office: 30 King Street London EC2V 8EH UK. Financial Services Register number 204459. Company number 00980698.
V6 – May 2020
Cash ISA Notice Account
APPLICATION FORM
Page | 2
About this Application Form
This is the Application Form referred to in the Cash ISA General Terms and Conditions (“Cash ISA General Terms and Conditions”) and Key Account Features (“Key Account Features”) which we have provided to you.
This Application Form, together with the Cash ISA General Terms and Conditions and Key Account Features, will form the basis of our Agreement relating to the Account you are applying to open with us (“Account”). The Agreement is explained more fully in the Cash ISA General Terms and Conditions.
Capitalised terms used but not defined in this document will have the meaning given to those terms in the Cash ISA General Terms and Conditions and Key Account Features.
How to complete this Application Form
- Please complete this form in BLOCK CAPITALS with a black ballpoint pen and return the completed application form to Bank and Clients Plc, 30 King Street, London EC2V 8EH - Please ensure the details below match those on your identification documents
Section 1 - Account Details
Initial deposit amount
Method of Payment
Bank Transfer*
Transfer from an existing Bank and Clients Account
Cheque Please make cheques payable to Bank and Clients Plc RE “Your name”
*Details to enable you to make an initial deposit by bank transfer will be provided once the account has been opened.
£
B&C Account Number
Page | 3
Section 2 - Details of Applicant
Personal Details
Title Mr Mrs Miss Ms Other
Surname
Forenames
Previous Surname(s)1
Current Address
Postcode
Date of Birth
D D M M Y Y Y Y
Nationality
Place of Birth
Country of Birth
Occupation
National Insurance Number2
Contact Details Preferred Daytime Contact
Alternative Daytime Contact
Home
Mobile
Work
Email address
Tax Liabilities
Are you a US citizen? YES NO
If ‘Yes’ - Please provide your US Tax Identification number:
Are you a UK resident for tax purposes? YES NO
If ‘No’- Please provide below the country and relevant Tax Reference or Tax Identification number:
1 If applicable 2 Your National Insurance Number can be found on your P60 or P45, or on a letter provided by HMRC
Page | 4
Source of Funds and Source of Wealth
Please provide as much as detail as possible:
Section 3 - Interest Payment/Withdrawal/Closure Instructions
Please pay accrued interest into (please complete as appropriate)
Bank and Clients’ Account Nominated UK Bank Account
Bank and Clients Plc requires your Nominated UK Bank Account details for withdrawals, interest payments and/or closures.
Name(s) of Account Holder(s)
Account Number
Sort Code
- -
Please provide a copy of a bank statement as evidence for your nominated bank account.
Section 4 - Use of information
Your privacy is very important to us at Bank and Clients. We will treat your information in accordance with the Bank and Clients Privacy Notice and the Website Terms of Use. The Privacy Notice is an important document as it makes it easier for you to see the personal data that we hold about you, how we use it and how we protect it.
A copy of our Privacy Notice can be found on Bank and Clients website www.bankandclients.com/security-privacy/ or you can request copies of either or both from us at any time.
Page | 5
Section 5 - Acknowledgement/Declaration
I apply to subscribe to a Cash ISA for 20 / 20
Declaration
I declare that:
- All subscriptions made and to be made belong to me
- I am 16 years of age or over
- I have not subscribed and will not subscribe more than the overall subscription limit to a Cash ISA, a
Stocks and Shares ISA, an Innovative Finance ISA or a Lifetime ISA in the same tax year
- I have not subscribed and will not subscribe to another Cash ISA in the same tax year that I subscribe
to this Cash ISA
- I am either a UK resident for tax purposes or I perform duties which by virtue of Section 28 of Income
Tax (Earnings and Pensions) Act 2003 (Crown employees serving overseas) are treated as being
performed in the United Kingdom, or I am married or in a civil partnership with a person who performs
such duties
- I will inform Bank and Clients Plc if my current tax status changes
- I declare that this Application Form has been completed to the best of my knowledge and belief
Note: The above declaration is not required if you are only intending to transfer prior years ISA
subscriptions to Bank and Clients
I authorise Bank and Clients Plc:
- To hold my cash subscription, ISA investments, interest, dividends and any other rights or proceeds in
respect to those investments and any other cash
- To make on my behalf any claims to relief from tax in respect of ISA investments
1. I have read and agree to be bound by the account conditions, as set out in the Cash ISA General Terms
and Conditions and Privacy Notice
2. I acknowledge receipt of the Key Account Features, FSCS Information Sheet and Exclusions List
Signature:
Date
D D M M Y Y Y Y
Thank you for completing this Application Form for a Bank and Clients Plc account.
B&C | 30 King Street | London EC2V 8EH | UK | T +44 (0) 808 164 8040 | www.bankandclients.com B&C is the trading name of Bank and Clients Plc, which is authorised by the Prudential Regulation Authority (PRA) and regulated by the PRA and the Financial Conduct Authority. Registered office: 30 King Street London EC2V 8EH UK. Financial Services Register number 204459. Company number 00980698. V3 – November 2018
ISA TRANSFER AUTHORITY FORM
Information about You
Title Mr Mrs Miss Ms
Surname
Forenames
Permanent Residential Address
Postcode
Telephone No. (Home)
What time is good to contact you? AM PM
Date of Birth
D D M M Y Y Y Y
National Insurance Number1
Name of existing ISA Provider
Address of existing ISA Provider
Account/Roll No. of existing ISA to be transferred
Sort Code - -
The terms and conditions of some ISA products do not allow only part of an ISA to be transferred. Your existing provider may need to give specific instruction before the transfer can go ahead. Please check with your existing provider if you are not sure about this.
1. Do you want to transfer all or part of this ISA? All Part
2. Have you subscribed to your current ISA in the current tax year? Yes No
3. If you answered yes to Q2 and are transferring part of your ISA, do you want to include the subscription from current tax year? Yes No N/A
Please note that the amount in your account representing current tax year subscription from the current tax year subscriptions can only be transferred in whole and not in part.
4. If you are asking to transfer part of your ISA, please say how much of your ISA you want to transfer
£
Or, if you wish only want to transfer your subscription from the current tax year tick here
1 You should be able to find your NI number on a payslip, P45 or P60, a letter from the HM Revenue & Customs, a letter from the DWP or pension order book.
Page | 2
Transfer Authority
I authorise my existing ISA Provider to transfer the ISA (Account Number above) to Bank and Clients. I authorise my existing ISA Provider to provide Bank and Clients with any information about the ISA and to accept any instructions from them relating to the ISA being transferred.
Where I must give notice to close or transfer part of the existing ISA, or the existing ISA contains a fixed-term deposit that has not reached its maturity date, I instruct my existing ISA provider to either (tick appropriate box)
1. Wait for the full notice period to end or wait until the maturity date (whichever is relevant) before going ahead with this transfer; OR
2. Depending on the terms and conditions, carry out the transfer as soon as possible – I will
accept any consequential loss of interest or charges that may be applied.
Signature Date
Transfer Acceptance (your new ISA provider fills this part in)
We are willing to accept this ISA transfer in line with the customer’s instruction above, as long as the following conditions are met.
- The transfer proceeds are made up of cash deposits only
- We receive the transfer proceeds no later than
- Where the customer has shown above that they want to transfer subscriptions from the current tax year,
these must not be more than
£
For the purpose of the transfer of the ISA wrapper under the ISA regulations, the date shown below will be the transfer date.
Date
Name of new provider: Bank and Clients Plc Email: [email protected]
B&C | 30 King Street | London EC2V 8EH | UK | T +44 (0) 808 164 8040 | www.bankandclients.com B&C is the trading name of Bank and Clients Plc, which is authorised by the Prudential Regulation Authority (PRA) and regulated by the PRA and the Financial Conduct Authority. Registered office: 30 King Street London EC2V 8EH UK. Financial Services Register number 204459. Company number 00980698.
V3 – November 2018
INFORMATION SHEET AND EXCLUSIONS LIST
Page | 2
Basic information about the protection of your eligible deposits
Eligible deposits in Bank and Clients Plc are protected by:
The Financial Services Compensation Scheme (“FSCS”).
(See Section 1)
Limit of protection: £85,000 per depositor per bank / building society / credit union.
(See Section 2)
The trading name of your bank is: Bank and Clients PLC
If you have more eligible deposits at the same bank / building society / credit union:
All your eligible deposits at the same bank / building society / credit union are “aggregated” and the total is subject to the limit of £85,000.
(See Section 2)
If you have a joint account with other person(s):
The limit of £85,000 applies to each depositor separately.
Reimbursement period in case of bank, building society or credit union’s failure
20 working days
(See Section 4)
Currency of reimbursement
Pound sterling (GBP, £) or branches of UK banks operating in other EEA Member States, for the currency of that State.
To contact Bank and Clients PLC for enquiries relating to your account:
To contact the FSCS for further information on compensation:
Bank and Clients PLC
30 King Street
London
EC2V 8EH
Tel: 0808 164 8040
Financial Services Compensation Scheme
10th Floor Beaufort House
15 St Botolph Street
London
EC3A 7QU
Tel: 0800 678 1100 or 020 7741 4100
Email: [email protected]
More information: http://www.fscs.org.uk
Acknowledgement of receipt by the depositor
Signed
Page | 3
Additional information
Section 1 - Scheme responsible for the protection of your eligible deposit
Your eligible deposit is covered by a statutory Deposit Guarantee Scheme. If insolvency of your bank, building society or credit union should occur, your eligible deposits would be repaid up to £85,000 by the Deposit Guarantee Scheme. Section 2 - General limit of protection
If a covered deposit is unavailable because a bank, building society or credit union is unable to meet its financial obligations, depositors are repaid by a Deposit Guarantee Scheme. This repayment covers at maximum £85,000 per bank, building society or credit union. This means that all eligible deposits at the same bank, building society or credit union are added up in order to determine the coverage level. If, for instance a depositor holds a savings account with £80,000 and a current account with £20,000, he or she will only be repaid £85,000. In some cases eligible deposits which are categorised as “temporary high balances” are protected above £85,000 for six months after the amount has been credited or from the moment when such eligible deposits become legally transferable. These are eligible deposits connected with certain events including:
(a) Certain transactions relating to the depositor’s current or prospective only or main residence or dwelling;
(b) A death, or the depositor’s marriage or civil partnership, divorce, retirement, dismissal, redundancy or invalidity;
(c) The payment to the depositor of insurance benefits or compensation for criminal injuries or wrongful conviction.
More information can be obtained under http://www.fscs.org.uk. Section 3 - Limit of protection for joint accounts
In case of joint accounts, the limit of £85,000 applies to each depositor. However, eligible deposits in an account to which two or more persons are entitled as members of a business partnership, association or grouping of a similar nature, without legal personality, are aggregated and treated as if made by a single depositor for the purpose of calculating the limit of £85,000. Section 4 - Reimbursement
The responsible Deposit Guarantee Scheme is the Financial Services Compensation Scheme, 10th Floor Beaufort House, 15 St Botolph Street, London, EC3A 7QU, Tel: 0800 678 1100 or 020 7741 4100, Email: [email protected]. It will repay your eligible deposits (up to £85,000) within 20 working days until 31 December 2018; within 15 working days from 1 January 2019 until 31 December 2020; within 10 working days from 1 January 2021 to 31 December 2023; and within 7 working days from 1 January 2024 onwards, save where specific exceptions apply. Where the FSCS cannot make the repayable amount available within 7 working days, it will, from 1 June 2016 until 31 December 2023, ensure that you have access to an appropriate amount of your covered deposits to cover the cost of living (in the case of a depositor which is an individual) or to cover necessary business expenses (in the case of a depositor which is not an individual or a large company) within 5 working days of a request. Again, there are specific exceptions to this obligation. In the case of a depositor which is a large company, where the FSCS cannot make the repayable amount available within 7 working days, it will, from 3 July 2015 until 1 December 2016, ensure that you have access to your covered deposits within fifteen working days of a request containing sufficient information to enable it to make a payment, save where specific exceptions apply.
Page | 4
If you have not been repaid within these deadlines, you should contact the Deposit Guarantee Scheme since the time to claim reimbursement may be barred after a certain time limit. Further information can be obtained under http://www.fscs.org.uk.
Other important information
In general, all retail depositors and businesses are covered by Deposit Guarantee Schemes. Exceptions for certain deposits are stated on the website of the responsible Deposit Guarantee Scheme. Your bank, building society or credit union will also inform you of any exclusions from protection which may apply. If deposits are eligible, the bank, building society or credit union shall also confirm this on the statement of account.
Exclusions from protection
A deposit is excluded from protection if: The holder and any beneficial owner of the deposit have never been identified in accordance with money laundering requirements.
The deposit arises out of transactions in connection with which there has been a criminal conviction for money laundering. It is a deposit made by a depositor which is one of the following:
- Credit institution
- Financial institution
- Investment firm
- Insurance undertaking
- Reinsurance undertaking
- Collective investment undertaking
- Pension or retirement fund1
- Public authority, other than a small local authority.
The following deposits, categories of deposits or other instruments are no longer protected from 3 July 2015:
- Deposits of a credit union to which the credit union itself is entitled
- Deposits which can only be proven by a financial instrument2 unless it is a savings product which is evidenced by a certificate of deposit made out to a named person and which exists in a Member State on 2 July 2014)
- Deposits of a collective investment scheme which qualifies as a small company3
- Deposits of an overseas financial services institution which qualifies as a small company4
- Deposits of certain regulated firms (investment firms, insurance undertakings and reinsurance undertakings) which qualify as a small business or a small company5 – Refer to the FSCS for further information on this category.
For further information about exclusions, refer to the FSCS website at http://www.fscs.org.uk.
1 Deposits by personal pension schemes, stakeholder pension schemes and occupational pension schemes of micro, small and medium sized enterprises are not excluded. 2 Listed in Section C of Annex 1 of Directive 2014/65/EU 3 Under the Companies Act 1985 or Companies Act 2006 4 See footnote above 5 See footnote above
B&C | 30 King Street | London EC2V 8EH | UK | T +44 (0) 808 164 8040 | www.bankandclients.com B&C is the trading name of Bank and Clients Plc, which is authorised by the Prudential Regulation Authority (PRA) and regulated by the PRA and the Financial Conduct Authority. Registered office: 30 King Street London EC2V 8EH UK. Financial Services Register number 204459. Company number 00980698.
V2 – November 2018
CONFIRMING YOUR IDENTITY AND RESIDENCY - INDIVIDUALS
Page | 2
Nominated Bank Account Confirmation
We will always require a nominated bank account for return of funds to be evidenced by a bank, building society
or credit union statement or passbook containing current address issued within the last three months.
To confirm your identity and residency, we will require sight of one document from each of the two sections listed below:
Personal Identity Documents
- Valid signed passport
- Valid UK photo-card driving licence (full or provisional)
- National ID card (non-UK nationals only at present)
- Recent evidence of entitlement to a state or local authority funded benefit
- Valid firearms certificate
- Birth certificate (under 18 only)
Documentary Evidence of Address
- Utility bill issued within the last three months (but not bills printed from the internet or for mobile
phones)
- Local authority council tax bill (valid for the current year)
- Valid UK driving licence (full or provisional - new photo-card licence only) if not used for evidence
of name
- Instrument of a Court appointment (such as liquidator or grant of probate)
Under 18
One document will be required from each list above. However, if you are under 18 years of age and unable to supply a document listed under “Documentary Evidence of Address” you may provide an original or certified copy of the following:
- Birth certificate (unless used as proof of identity)
- National insurance card
- NHS medical card
- Child tax or child benefit documentation naming you at your current address
- Adoption certificates (if not used for evidence of name)
- Parents identity documents (as per list above)
Page | 3
Format of Certification Required
Copy documents need to be certified as follows:
- Name of the certifier
- Occupation of the person making the certification
- Business home address
- Contact telephone number
- Signature of the certifier
In the case of a passport, national identity card or documentary evidence of address for a non-UK national, the copy can be certified by an embassy, consulate or high commission of the country of issue or by a lawyer or attorney
Acceptable Certifier of Original Documents
You should not send by post originals of valuable identity documents such as passport, identity card, or driving licence. If you are not meeting with someone from Bank and Clients face-to-face, you may arrange for copies of valuable identity documents to be certified by the following:
- A bank or building society official
- Financial advisor
- Mortgage Broker
- Stockbroker
- Accountant
- Post office
- Barrister
- Commissioner of oaths
- Legal Secretary
- Justice of the peace
- Paralegal
- Councillor
- Dentist
- Optician
- Pharmacist
- Director/manager of a limited company or charity
- Local Government Officer
- Member of Parliament
- Minister of a recognised religion
- Officer of the armed services
- Police Officer
- Social Worker
- Surveyor
- Teacher/lecturer
B&C | 30 King Street | London EC2V 8EH | UK | T +44 (0) 808 164 8040 | www.bankandclients.com
B&C is the trading name of Bank and Clients Plc, which is authorised by the Prudential Regulation Authority (PRA) and regulated by the PRA and the Financial Conduct Authority. Registered office: 30 King Street London EC2V 8EH UK. Financial Services Register number 204459. Company number 00980698.
V3 - November 2018
General Terms and Conditions
Cash ISA
Effective from May 2018
Contents
SECTION 1: OUR TERMS OF BUSINESS ........................................................................................ 1
1. About Bank and Clients ................................................................................................................ 1
2. Regulation ........................................................................................................................................ 1
3. Deposit Protection ......................................................................................................................... 1
4. Communication .............................................................................................................................. 1
5. Complaints ...................................................................................................................................... 2
6. Agreement between you and us ................................................................................................... 2
7. Explaining the Cash ISA ............................................................................................................... 2
8. Changes to General Terms and Conditions ............................................................................... 3
9. Charges applicable to your Account ............................................................................................ 5
10. Cancelling your account ................................................................................................................ 5
11. Data Protection ............................................................................................................................... 5
12. Use of English and English law to apply .................................................................................... 5
13. Liability Under This Agreement ................................................................................................... 6
14. General ............................................................................................................................................. 6
SECTION 2: CASH ISA SPECIFIC TERMS AND CONDITIONS .............................................. 7
1. Definitions used in this agreement .............................................................................................. 7
2. Operating your account ................................................................................................................. 8
3. Keeping us informed ..................................................................................................................... 8
4. Account security ............................................................................................................................. 8
5. Deposits into Your Account......................................................................................................... 9
6. Authority to act on Instructions to Make Payments and Withdrawals ................................ 10
7. General terms that apply to the Cash ISA ................................................................................ 12
8. Transfer of rights .......................................................................................................................... 14
9. Unauthorised and Incorrect Payments ...................................................................................... 14
10. Joint Accounts .............................................................................................................................. 15
11. Overdrafts ...................................................................................................................................... 15
12. Interest payments and tax treatment ......................................................................................... 15
13. Cancellation and Closing Your Account ................................................................................... 16
14. Statements ..................................................................................................................................... 18
15. Transfer of Rights ........................................................................................................................ 18
16. Death of an Account Holder ...................................................................................................... 18
17. Dormant Accounts ....................................................................................................................... 18
18. Electronic verification .................................................................................................................. 18
19. Set Off ............................................................................................................................................ 19
Page | 1
SECTION 1: OUR TERMS OF BUSINESS
1. ABOUT BANK AND CLIENTS
Bank and Clients Plc has its registered office at 30 King Street, London, EC2V 8EH and is the
provider of your ISA account. These Cash ISA General Terms and Conditions apply to our cash
ISA deposit accounts. Please read and retain a copy of these Cash ISA General Terms and
Conditions as they contain binding arrangements between you and us and these terms will apply
from the point in time at which you sign and return your Application Form to us.
2. REGULATION
Bank and Clients Plc is authorised and regulated by the Prudential Regulation Authority (PRA) and
is also regulated by the Financial Conduct Authority (FCA). Our Financial Services Register
number is 204459.
3. DEPOSIT PROTECTION
3.1 We are covered by the Financial Services Compensation Scheme (“FSCS”). The FSCS can pay
compensation to depositors if a bank is unable to meet its financial obligations, becomes insolvent
or is unable or likely to become unable to pay its claims against it.
On 30 January 2017 the Deposit Protection Limit changed to £85,000.00 in respect of all
eligible depositors.
3.2 In respect of deposits, an eligible depositor is entitled to claim up to £85,000. The £85,000 limit
relates to the combined amount in all the eligible depositor’s accounts with the same authorised
bank, including their share of any joint account, and not to each separate account.
3.3 For further information about the compensation provided by the FSCS (including the amounts
covered and eligibility to claim) please call us on 0808 164 8040, refer to the FSCS website
www.fscs.org.uk or call the FSCS on 0800 678 1100 or 0207 741 4100. Please note, only
compensation related queries should be directed to the FSCS.
4. COMMUNICATION
4.1 You can communicate with us:
4.1.1 By post at:
Bank and Clients Plc 30 King Street London EC2V 8EH
4.1.2 By email at [email protected]; or
4.1.3 By telephone on 0808 164 8040
4.2 We will contact you using the address you have provided to us. You must ensure the contact
details you have provided are accurate and must notify us of any changes.
Page | 2
5. COMPLAINTS
5.1 If you have a complaint which you require to be investigated, you should set this out in writing to:
Bank and Clients Plc 30 King Street London EC2V 8EH
5.2 We will investigate and inform you of our internal complaints handling procedure. We will
endeavour to resolve your complaint within eight weeks.
5.3 If you are not satisfied with the manner in which the matter is addressed you can normally refer the
complaint to the Financial Ombudsman Service within six months of receiving our final response.
You can do this online at www.financial-ombudsman.org.uk, by phone on 0800 023 4567 or in
writing to:
Financial Ombudsman Service
Exchange Tower
London
E14 9SR
6. AGREEMENT BETWEEN YOU AND US
Our agreement with you (“Agreement”) consists of:
a. These Cash ISA General Terms and Conditions, which set out the way we provide banking
services to you, our responsibilities to you and your use of the ISA account that you have
chosen;
b. The Key Account Features, which has been provided to you and which sets out the more
specific General Terms and Conditions which apply to the specific type of account you have
chosen:
c. Your Application Form: and
d. Any special conditions that we may from time to time inform you apply to your account.
7. EXPLAINING THE CASH ISA
7.1 There are four different types of ISA; the cash ISA, the stocks and shares ISA, the innovative
finance ISA and the lifetime ISA. The product offered by us and to which these Cash ISA General
Terms and Conditions apply is a cash ISA.
7.2 You can deposit money into one of each of these types of ISA per Tax Year. The Tax Year runs
from 6 April to 5 April and you must ensure that the total sum paid into all your ISAs does not
exceed the overall ISA subscription limit for that year. The ISA subscription limit can vary from
year to year so we suggest you check the relevant limit either at HM Revenue & Custom’s website
or by reference to your Key Account Features document for the relevant year.
7.3 You should assess whether the cash ISA is the right type of account for you. People typically use
the cash ISA as a tax efficient method of saving cash. If you require an account for day to day use
the cash ISA is probably not the most appropriate account for your needs and you should consider
a more suitable account.
Page | 3
7.4 The Cash ISA is a personal account and should not be used for business purposes. If you need an
account for the purpose of running your business you should discuss this with us and we will help
you select a more suitable account.
7.5 To qualify for the Cash ISA you must meet the following minimum criteria:
7.5.1 Be aged 16 or over; and
7.5.2 Be resident in the UK (or if you’re not a resident be an individual who performs duties as
a Crown employee and is paid out of the public revenue of the United Kingdom (for
examples members of the armed forces or a diplomat or be married to or in a civil
partnership with such a person); and
7.5.3 Have a minimum opening deposit of at least £1,000; and
7.5.4 Be prepared to share your National Insurance Number and date of birth with us; and
7.5.5 Be prepared to tell us if you move abroad. If you are no longer resident in the UK for
tax purposes your Cash ISA will continue to receive interest free of tax but you will no
longer be able to continue to pay into it unless you are an individual who performs duties
as a Crown employee and is paid out of the public revenue of the United Kingdom (for
examples members of the armed forces or a diplomat or be married to or in a civil
partnership with such a person).
7.6 Unless the Key Account Features state otherwise you may invest in the Cash ISA with a lump sum
or through regular or irregular payments. You may transfer an existing ISA product which you
hold with another ISA provider to us although such payments are entirely at our discretion, having
regard to the Regulations. ISA transfers of amounts subscribed for in previous Tax Years do not
count towards your annual ISA allowance, including from a Flexible ISA into a Cash ISA.
7.7 The rate of interest we pay you on a Cash ISA is set out in the Key Account Features and is
available on request by calling us on 0808 164 8040 or via our website www.bankandclients.com
7.8 The manner in which interest is calculated and the times at which we pay it to you is set out and
specified in the Key Account Features document. Interest may be added to your Account,
transferred to another account with Bank and Clients or paid direct to your UK nominated bank
account.
7.9 The number of days’ notice that is required for your particular Account is set out in the Key
Account Features document. You may close, make a withdrawal from or transfer your Account to
another ISA Provider on less than the required number of days’ notice but an interest deduction
will apply as set out in Section 2, clause 13.2.
7.10 We are required to report details of all our customers’ ISA subscriptions to HM Revenue &
Customs so that they can check that our customers are in compliance with their ISA limits and we
will do this with your Account.
8. CHANGES TO CASH ISA GENERAL TERMS AND CONDITIONS
8.1 We may be required to change the Cash ISA General Terms and Conditions that apply to your
account with us from time to time.
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8.2 We may make changes to the Cash ISA General Terms and Conditions in the following
circumstances:
8.2.1 if we are changing a service we offer or introducing a new service that requires a change
to the General Terms and Conditions (for example, introducing a new charge);
8.2.2 if we are changing the Cash ISA General Terms and Conditions to reflect a change in the
law or decision by an ombudsman, code of practice, HM Revenue & Customs or
regulatory guidance or change in the regulatory system governing us or ISA accounts
generally;
8.2.3 if we are withdrawing a service of a particular type of account; and
8.2.4 if we need to make changes to take account of developments in technology or in the
banking system generally.
8.3 Changes to the Cash ISA General Terms and Conditions may also include changes to any service
charges that are applicable to your account (explained in more detail in the Key Account Features).
We will only increase a service charge in the following circumstances:
8.3.1 if there are changes (or expected changes) in our costs that mean we have to change or
introduce rates or charges;
8.3.2 if we need to make the change in order to maintain or improve our competitive position
overall against other providers;
8.3.3 to reflect any change in the law or decision by an ombudsman, HM Revenue & Customs,
code of practice or regulatory guidance or change in the regulatory system governing us;
8.3.4 to allow us to harmonise the service charges charged should we acquire the accounts of
or take over or merge with another provider of accounts;
8.3.5 it is necessary for us to make changes to maintain our financial stability.
8.4 Any change we make for one or more of the reasons detailed above will be carried out in a
reasonable and proportionate manner.
8.5 Where we are required to make changes to these Cash ISA General Terms and Conditions
(including service charges) we will notify you of the proposed changes 2 months prior to the date
on which they will take effect.
8.6 If we give you notice as set out above and you don’t tell us you want to close your account or end
the service, then we will treat you as having accepted the change. If you do not want to accept the
change and want to end this agreement, close the account or end the service, you must tell us by
giving at least 2 weeks’ written notice before the change is made (i.e. within the 2 month notice
period).
8.7 If you close your account for this reason, we will not charge you any termination fees or deduct
any interest, however, you will have to pay any outstanding charges before the account is closed,
otherwise we will treat you as having accepted the change.
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8.8 Please note that in some instances if you do not agree to any changes that we are required to make
to these Cash ISA General Terms and Conditions it may not be possible for us to continue to
operate your account and/or offer certain services to you.
8.9 For specific provisions in respect of changes to interest rates payable on your account, please see
Section 2, clauses 12.4 and 12.5 of these Cash ISA General Terms and Conditions.
9. CHARGES APPLICABLE TO YOUR ACCOUNT
Standard charges in connection with your Account are set out in the Key Account Features
document. You will have received a copy of the Key Account Features document before you
opened your Account and you can request a further copy from us at any time. We may make a
reasonable charge for providing you with any non-standard service which you request in
connection with your Account. We will confirm the charge before we provide you with the service.
10. CANCELLING YOUR ACCOUNT
10.1 If you change your mind about opening your account, you have the right to cancel it within 14 days
of it being opened. This is the ‘cooling off period’ as specified in the Key Account Features
document. You can do this by telling us that you wish to cancel your account in writing to Bank
and Clients Plc, 30 King Street, London EC2V 8EH.
10.2 If you cancel your account, then we will return your money within 30 days. No fee will be charged
if you cancel your account. For fraud prevention reasons, we will only return your money to a
nominated account with a UK bank or building society held in your name.
10.3 If you choose not to cancel your account, it will remain open until such time as you request its
closure and any notice period applicable to your specific type of account would then apply as set
out in the Key Account Features.
11. DATA PROTECTION
11.1 Your privacy is very important to us at Bank and Clients. We will treat your information in
accordance with the Bank and Clients Privacy Notice and the website Terms of Use. The Privacy
Notice is an important document as it makes it easier for you to see the personal data that we hold
about you, how we use it and how we protect it.
11.2 You will be provided with a copy of both the Privacy Notice and the Bank and Clients website
Terms of Use but you can request copies of either or both from us at any time.
12. USE OF ENGLISH AND ENGLISH LAW TO APPLY
12.1 These Cash ISA General Terms and Conditions are in English, all notices and communications
with you will also be in English.
12.2 The Agreement is governed by the laws of England and Wales. Any dispute between you and us
which may arise under the Agreement will be dealt with in the courts of England and Wales.
12.3 If you require additional copies of these Cash ISA General Terms and Conditions you can ask us at
any time, please address your queries to Bank and Clients Plc, 30 King Street, London EC2V 8EH.
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13. LIABILITY UNDER THIS AGREEMENT
13.1 We are responsible if you suffer any loss because we have breached the terms of this Agreement.
There are three exceptions to this rule;
a) we will not be liable for losses or costs caused by abnormal and unforeseeable circumstances
outside our reasonable control. These include delays or failures caused by industrial action
(e.g., strikes), problems with another system or network, mechanical breakdown or data-
processing failures;
b) we will not be liable for losses or costs where a regulatory requirement means we must
breach the terms of this Agreement.
c) we will not be liable for any loss of profit, opportunity, goodwill or business as a result of
anything we have done, as we make this Agreement with you as a personal customer.
13.2 For the avoidance of doubt nothing in this agreement limits our liability for acting fraudulently or
very carelessly or otherwise excludes or limits our liability to the extent we are unable to exclude or
limit it by law.
14. GENERAL
14.1 You cannot transfer any of your rights or duties under this Agreement to any other person or
entity.
14.2 We may transfer our rights and duties under this Agreement to another company or entity. If that
were to happen, this Agreement would then be between you and the company to which we
transferred our rights and duties.
14.3 No person apart from you and us has any right to enforce any term of this Agreement. If we
transfer our rights under this Agreement to another entity that entity will have the right to enforce
the Agreement.
14.4 Each of the terms in the Agreement is separate from each other term so that if any one term turns
out to be invalid or unenforceable it will not affect the remainder of the Agreement.
14.5 If we decide at any time not to enforce any of our rights under the Agreement, that inaction will
not prevent us from enforcing those rights at any time in the future (subject to any time limits
imposed by law or regulation).
14.6 We may contact each other by post, email, telephone, text or any other means agreed between us.
Calls between us may be monitored for training and security purposes and may be used in the
event of a dispute as to instructions you may give us in respect of the Account.
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SECTION 2: CASH ISA SPECIFIC TERMS AND CONDITIONS
1. DEFINITIONS USED IN THIS AGREEMENT
In these Cash ISA General Terms and Conditions where we use these capitalised terms we mean
the following:
"Account" means the ISA account that you hold with us as detailed in your Application Form to
which these Cash ISA General Terms and Conditions relate;
"Additional Permitted Subscription" means an additional subscription which you can, subject
to our approval, make to your Account following the death of your spouse or civil
partner. The Additional Permitted Subscription will not count towards your current Tax Year
subscription limit;
"Annual ISA Allowance" means the amount which you are able to invest in ISAs for a given
Tax Year. The full meaning is set out in the Regulations;
"Cash ISA" means the cash ISA product provided by Bank and Clients;
"Flexible ISA" means an ISA (other than a junior ISA) that has terms and conditions that allow
for an account holder to replace (in whole or part) a cash amount withdrawn by them in any year
by a replacement subscription of a cash amount (or qualifying investments for a Stocks and
Shares ISA) made in that year. The full meaning is set out in the Regulations;
"Innovative Finance ISA" means an ISA which includes an innovative finance component, for
example an investment in peer to peer loans. The full meaning is set out in the Regulations;
“Interest Payment Date” means the date(s) on which we pay interest to your Account in
accordance with the Key Account Features;
"ISA Provider" means a bank or other financial institution authorised to provide ISA accounts
to customers in accordance with the Regulations;
"Lifetime ISA" means an ISA that has terms and conditions that allow the account holder to
save for a first home or for later in life and pursuant to which a saver may deposit up to £4,000
per year until the age of 50 and in respect of which the UK government will pay a 25% bonus up
to a maximum of £1,000 per year.
"Maximum Subscription Amount" means your Annual ISA Allowance minus any deposits you
have made into a stocks and shares ISA and/or Innovative Finance ISA in the relevant Tax year;
"Regulations" means the Individual Savings Account Regulations 1998 (SI 1998/1870) and
related rules, as amended from time to time;
"Subscription" means any contribution made by you to an ISA during a Tax Year which
counts towards your Annual ISA Allowance;
"Tariff" means the list of charges associated with our accounts as set out in the Key Account
Features;
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"Tax Year" means a year beginning on 6 April and ending on 5 April in the following calendar
year;
"we", "us", "our" mean Bank and Clients Plc; and
"Working Day" means any day except a Saturday, Sunday or English public holiday.
2. OPERATING YOUR ACCOUNT
2.1 Set out below are the instructions and means by which you and we will operate your Account.
When accessing your Account either to make withdrawals or deposits you should follow any
instructions and adhere to any guidance as closely as possible.
2.2 If you are uncertain how to comply with any instruction or guidance please call us on 0808 164
8040 and we will be happy to assist you. These processes and instructions have been put in place
by us to ensure that you have a safe and secure environment in which to conduct your banking.
3. KEEPING US INFORMED
3.1 It is essential that you keep us informed if there are any changes to your situation, contact or
personal details or any other important changes that may be relevant, for example, if you change
your name or nationality, or if you change the way you sign your name. This is so that we can
manage your banking, protect your account and communicate properly with you.
3.2 If you do not keep us informed of your correct and up to date details then we will not be
responsible if any payment into or withdrawal out of your Account is not made, is delayed or is
made incorrectly.
4. ACCOUNT SECURITY
4.1 Keeping your Account secure
4.1.1 We will do all that we reasonably can to keep your Account secure and to prevent any
unauthorised access to your Account. You should also take steps to keep your Account
secure, including:
a) follow any instructions that we give to you, which we reasonably consider are
necessary to protect your Account from unauthorised access;
b) not let anyone else use your security details;
c) not let anyone else give instructions or access information on your Account unless
they have a separate arrangement with us or you have authorised them to operate
your Account;
d) sign the signature strip on your Account card (if you are given one) as soon as you
receive it; and
e) do all you reasonably can to prevent anyone else finding out your security details.
4.1.2 You should not:
a) tell anyone else your security details;
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b) choose any obvious passwords or codes as part of your security details (e.g. your date
of birth);
c) write down your security details or keep them with your banking documents;
d) write down your security details in a recognisable way; or
e) let anyone listen into any calls with us or watch you entering or using your security
details.
4.1.3 To ensure your security we will only act on instructions if we reasonably believe the
instructions have come from you. We will be entitled to query any instructions received
with regards to your Account at any time that we have any cause to suspect that the
instruction has not been issued by you.
4.1.4 Only you should have access to your security information for the purposes of accessing
your Account and for giving us instructions. We will not be liable to you in
circumstances where you have given or allowed an unauthorised person to obtain your
security details.
4.2 What to do if you think security has been breached
4.2.1 If you have reason to suspect that any unauthorised person has obtained access to your
security information or that an unauthorised transaction has been made from your
Account you should inform us immediately on the following number 0808 164 8040.
Once you have notified us, we will take immediate steps to suspend all activity associated
with the Account.
4.2.2 If you dispute that you have carried out or authorised a transaction in relation to your
Account we will investigate accordingly and will ask for your assistance in doing so.
You must provide reasonable information and assistance as requested by us or any other
authority investigating any misuse or alleged misuse of your Account. We may pass
related information to other banks or companies involved in payment processing, or to
the police or other authorities, in the UK or (if appropriate) outside the UK.
4.3 Suspending your Account
4.3.1 We can suspend your Account activity:
(a) if we believe this is necessary for security reasons;
(b) to prevent any suspected unauthorised or fraudulent use of your Account; or
(c) if there is a significantly increased risk you will be unable to repay any money you
owe on your Account.
4.3.2 If we suspend your Account activity we will notify you and inform you of the reasons
why beforehand unless this would compromise our security or be unlawful.
5. DEPOSITS INTO YOUR ACCOUNT
5.1 You may deposit money into your Account by cheque, or by bank transfer. All payments into your
Account must be made in British Pounds Sterling.
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5.2 Once a valid instruction for a deposit is received, we will check that it provides all the requisite
details and then process it in accordance with the timescales set out below. If we receive an
instruction to deposit money into your Account after 4pm (for CHAPS, Bank payments and faster
payment) or 2pm (for cheque payments) then we will treat your instruction as if it had been
received the following Working Day e.g. if we receive a cheque at 3pm on a Tuesday afternoon, we
will treat it as having been received on Wednesday before 2pm.
Payments Into Your Account
Deposit Method How A Deposit Can
Be Made Clearance Times
When Funds are Paid and Start to Earn Interest
CHAPS/Bank Payment/Faster
Payment Via your clearing bank 4pm On receipt of funds prior to 4pm
Cheque By post 6 Working Days
after we deposit the cheque
Same day if received prior to 2pm.
Interest will be paid after 3 Working Days
Cash By post or by visiting
the office 4pm
Same day if received prior to 4pm – otherwise the next
Working Day
5.3 Payments into the Account during a Tax Year must not in total exceed the Maximum Subscription
Amount.
6. AUTHORITY TO ACT ON INSTRUCTIONS TO MAKE PAYMENTS AND
WITHDRAWALS
6.1 Giving us instructions to make a payment or withdrawal
6.1.1 When you ask us to make a payment or withdrawal out of your Account, we will follow
your instructions where possible. When you instruct us to make a payment or
withdrawal, you must:
a) have sufficient funds in your Account to cover the payment at the point that the
payment is processed;
b) provide us with the information we need e.g. the account number and sort code
of your nominated account; and
c) tell us whether to make the payment immediately or at a specific date in the
future.
6.1.2 Your instructions to make payment can be given in writing, in person at one of our
branches or by any other means agreed to by us. Instructions to make a withdrawal must
be either in writing or by a signed withdrawal slip.
6.1.3 When you instruct us to make a payment or withdrawal you must first provide us with
sufficient security information so that we can confirm it is you who is providing the
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instruction. For example, if you are giving instructions in person, we may require you to
present a passport or other form of identification and if you are giving instructions by
cheque or withdrawal slip, we will require a valid signature. If we reasonably believe the
instructions have come from you, then we will act upon them.
6.1.4 When we have confirmed or if we reasonably believe that you are providing the
instruction, we will make the payment or withdrawal requested.
6.1.5 You must ensure that the payment or withdrawal instructions you provide to us are
accurate and complete, otherwise we will be unable to act on them e.g. you must ensure
you include the correct account number, sort code and recipient details. If we have acted
correctly on a payment or withdrawal instruction but you have provided incorrect details
we will not be liable to you for making the payment or withdrawal.
6.1.6 Your consent is our authority to debit your Account with any amounts we have paid or
charges you have incurred in connection with your instruction, even if the instruction has
not been authorised by you.
6.1.7 However, your liability for transactions carried out in connection with instructions you
have not actually authorised will be limited in the manner described in the Agreement.
6.2 Making a withdrawal from your Account
6.2.1 Withdrawals from your Account can only be made into a UK nominated account held in
your name.
6.2.2 You may instruct us to make a withdrawal from your Account either in writing (i.e. by
letter) or by sending us a signed withdrawal form. Once we have received your
instruction, we will check that it provides all the requisite details and then process it in
accordance with the timescales set out below.
6.2.3 If we receive an instruction to make a withdrawal after 2pm on a Working Day (or at any
time on a non-Working Day) then we will treat your instruction as if it had been received
the following Working Day e.g. if we receive a written withdrawal instruction at 3pm on
a Friday or on a Saturday, we will treat it as having been received on Monday before
2pm.
Withdrawals From Your Account
Withdrawal Method
How Can It Be Initiated?
Cut Off Times Processing
Time Time Taken to Send
Money to You
Chaps/Faster payment
Letter or signed withdrawal form
2pm on a Working Day
Same day subject to
cut off time
We will send the payment to your bank
the same day subject to cut off times
6.2.4 If you make a withdrawal but do not give us the correct amount of notice (as set out in
the Key Account Features document) we will apply an interest deduction to the Account.
Please see clause 13.2 where we explain how we will calculate the relevant interest
deduction.
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6.2.5 The Account is not a Flexible ISA. This means that withdrawals will not affect your
Subscription limits. If you have already subscribed for the Maximum Subscription
Amount you will not be able to make any further subscriptions, regardless of
withdrawals.
6.3 When we can decline a payment or withdrawal instruction
6.3.1 We reserve the right to decline a payment instruction or to suspend your Account
activity if we reasonably consider it necessary, for example, because of the following
circumstances:
(a) if we believe this is necessary for security reasons;
(b) to prevent any suspected unauthorised or fraudulent use of your Account;
(c) if there is a significantly increased risk you will be unable to repay any money you
owe on your Account;
(d) we have reason to suspect that the transaction might be illegal or could be linked
with unlawful, fraudulent, criminal or terrorist activity;
(e) we reasonably suspect that the instruction was not given by you;
(f) you are in breach of this Agreement;
(g) the payment instruction is incomplete or unclear;
(h) the instruction involves a transaction which would cause you to exceed any limit
that we have set with respect to the Account; or
(i) if acting on the instruction would cause us to breach any legal or regulatory duty
that applies to us.
6.3.2 If we suspend your Account activity we will notify you and inform you of the reasons
why beforehand unless this would compromise our security or be unlawful.
6.3.3 If we have declined to act on any instruction we will endeavour to explain the reason for
the refusal within 1 Working Day unless this would compromise our security or be
unlawful.
7. GENERAL TERMS THAT APPLY TO THE CASH ISA
7.1 Maximum ISA Allowance
7.1.1 The maximum amount that you can deposit in the Cash ISA in any given Tax Year is
your Maximum Subscription Amount. The Maximum Subscription Amount may vary
annually and the relevant limit for any particular Tax Year should be confirmed by
checking HM Revenue & Custom’s website or the Key Account Features document for
the relevant Tax Year.
7.1.2 You may request the transfer of the value of your deceased spouse’s or civil partner’s
Additional Permitted Subscription to your Account. Subject to us agreeing to accept
Additional Permitted Subscriptions you will be supplied with an Additional Permitted
Subscription application form. The Additional Permitted Subscription should not exceed
the combined value of your spouse or civil partner’s ISAs which they held at the date of
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their death (including any accrued income due but not paid or credited to the account
at the date of death.) Payments must be made in accordance with requirements set out
in the Regulations. You may make several Additional Permitted Subscriptions but these
should not exceed the combined value of your spouse or civil partner’s ISAs in total as at
the date of their death and those payments must be made within the timescales set out in
the Regulations.
7.1.3 An Additional Permitted Subscription will not be accepted where we know the
information provided by you in the relevant form is false or where the requirements set
out in the Regulations are not satisfied.
7.2 Tax
If we believe that you may have tax obligations in other countries, we may be required to disclose
information about you directly to those tax authorities, to HM Revenue & Customs, or to any other
relevant tax authorities, which may share information with other tax authorities.
7.3 Transferring a cash ISA to Bank and Clients
If you give us instructions to transfer a cash ISA held with another ISA Provider:
7.3.1 to a Cash ISA with us, we will, within 5 Working Days of receipt of the instruction, send
to your existing provider the transfer instructions and a notice specifying that you
consent to the transfer. The other provider should, within 5 Working Days of receipt of
the transfer instructions and consent notice, transfer to us the amounts specified in your
transfer instructions and a notice containing certain information specified in the
Regulations.
7.3.2 When we receive the subscriptions specified in the transfer instructions from the other
provider we will credit them to your Account within 3 Working Days, as long as we also
have the notice of information. If the transfer instructions and notice of information are
received on different days, they will both be treated as having been received on the later
of those days.
7.4 Transferring your Bank and Clients ISA to another ISA Provider
7.4.1 Subject to the requirement to give the relevant amount of notice as set out in the Key
Account Features document or pay a deduction of interest which we set out in Section 2,
clause 13.2, you may elect to transfer all or part of your Account to another ISA
Provider. Within 5 Working Days of receipt of an instruction and consent notice, we will
transfer the subscriptions specified in the transfer instructions and send the new
ISA Provider a notice containing information specified in the Regulations.
7.4.2 A withdrawal or transfer of funds can be made immediately subject to the deduction of
interest in accordance with Section 2, clause 13.2 so you should, give us the required
amount of notice of your intention to transfer all or part of your Account in order to
avoid a deduction of interest. If you ask for the transfer to be delayed, this will be
treated as a revised transfer instruction and the 5 day time limit for making the
transfer will begin after the notice period has expired.
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7.4.3 You can transfer all or part of a previous year's cash ISA. If you wish to transfer a
current year's subscription the full amount of the subscription must be
transferred. The amount you paid into your cash ISA before you transfer it still counts
against your ISA allowance for that current Tax Year. Your new ISA Provider will
arrange for the transfer.
8. TRANSFER OF RIGHTS
Your Account must remain in your beneficial ownership (which means it must be owned by you in your sole name). It must not be used as security to a third party although you can use it as a source for repaying a loan.
9. UNAUTHORISED AND INCORRECT PAYMENTS
9.1 Remedies for unauthorised payment
9.1.1 If you think a payment has been made from your Account that was not authorised then
you should notify us as soon as possible, and in any event, no later than 13 months after
the unauthorised payment was made.
9.1.2 If you notify us that a payment was not authorised by you, then unless we have
reasonable ground to think you are not entitled to an immediate refund, we will refund
your Account to the position it would have been in had the unauthorised payment not
been made. This will usually mean refunding into your Account;
(a) the amount of the unauthorised payment;
(b) any fees and/or interest charged in connection with the unauthorised payment;
and
(c) any interest you would have accrued on the amount of the unauthorised payment.
9.1.3 If we have reasonable grounds to believe that you are not entitled to an immediate
refund then we reserve the right to undertake an investigation before we refund any
sums to your Account. We will complete this investigation as quickly as possible.
9.1.4 There are two grounds under which you will not be entitled to a refund:
a) where you have acted fraudulently;
b) where you have acted deliberately or with gross negligence by;
i. failing to keep your Account security details secure; or
ii. failing to inform us as soon as you became aware that your security details had been lost, stolen or could be being misused;
9.1.5 If an unauthorised payment has taken place and you are not responsible but the
transaction has occurred because you have failed to keep your Account details safe and
secure, you will be liable for up to £50 of any loss relating to that unauthorised
transaction or any series of unauthorised transactions.
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9.2 Remedies for incorrect payment
9.2.1 If you notify us that a payment has not been made correctly or has not arrived at the
correct destination, we will:
(a) refund your Account to the position it would have been in had the incorrect payment not been made. This will usually mean funding the incorrect sum or, in the case of overpayment, refunding the excess, as well as any fees and interest you may have lost; and
(b) if requested, make reasonable efforts to trace and recover the incorrect payment.
9.2.2 We will not refund your Account if:
(a) you fail to notify us of the incorrect payment without undue delay and in any event within 13 months of the date on which the transaction occurred or ought to have occurred;
(b) you have provided us with incorrect payment instructions; or
(c) we can show that the payment arrived at another bank, in which case, that bank may be liable.
9.2.3 We will make reasonable efforts to recover the funds if there was a mistake in the
payment instruction you provided to us, however, we reserve the right to recover
reasonable charges from you in respect of any efforts to recover the funds. We will notify
you of the proposed charged before we make attempts to recover the funds.
10. JOINT ACCOUNTS
ISAs can only be held in a sole name. It is not possible to have a joint account with a Cash ISA.
11. OVERDRAFTS
The Cash ISA does not provide the right for you to have a negative or debit balance or overdraft
on your Account. You must not borrow money on your Account.
12. INTEREST PAYMENTS AND TAX TREATMENT
12.1 Interest will be paid to the Account on the date specified in your Key Account Features document
(or when you close your Account) and normally without any deduction for tax. The interest paid
on the Account does not need to be declared on your tax return. The tax benefits will depend on
your individual circumstances and can change. Other taxes and costs may exist that are not
deducted or paid for by us, and you may need to pay those taxes yourself. We will inform you if,
by reason of any failure to satisfy the Regulations or these Cash ISA General Terms and
Conditions, your Account has or will become void or no longer exempt from tax. Where this
occurs, we will usually be able to keep your Account active, but we may be required to deduct
interest in line with instructions given to us by HM Revenue & Customs. In the event of
your death your Account will form part of your estate and may be subject to inheritance tax after
your death.
12.2 The rate at which interest will accrue on your Cash ISA is specified in your Key Account Features
document. In addition, current interest rates can be found on our website on
www.bankandclients.com or by calling 0808 164 8040.
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12.3 Unless the Key Account Features state otherwise, we may increase interest rates at any time.
12.4 Unless the Key Account Features state otherwise, we may reduce interest rates for any of the
following reasons:
12.4.1 because of a reduction in the Bank of England Base Rate (or any rate that replaces it) or
a reduction in interest rates generally offered by other providers of savings accounts with
whom we compete;
12.4.2 because of a requirement to reduce the interest rate charged on our mortgages to attract
and retain business from borrowers;
12.4.3 because our administrative costs and charges have increased or we reasonably believe
they are likely to do so;
12.4.4 to allow us to harmonise the interest rates we pay should we acquire the accounts of or
takeover or merge with another provider; or
12.4.5 because of a need to make changes to maintain our financial stability.
12.5 If we make any change for one or more of the reasons detailed above, we will do so in a reasonable
and proportionate manner.
12.6 We will write to you to notify you of any change in interest rate on your Account. If the interest
rate is reduced we will give you at least 2 months’ written notice of the change, (and we will send
you a reminder within a 14 day period immediately before that change takes effect) during which
time you may close your Account without charge by giving us 2 week’s written notice to:
Bank and Clients Plc 30 King Street London EC2V 8EH
12.7 If we do not hear from you that you wish to close your Account within 2 months, we will treat you
as having accepted the change.
13. CANCELLATION AND CLOSING YOUR ACCOUNT
13.1 Cooling off period
13.1.1 If you change your mind about opening your Account you have the right to cancel the
Account within 14 days of opening it.
13.1.2 If you close your Account within 14 days of opening then we will not charge you for the
cancellation and we will return your money within 30 calendar days. For fraud prevention
reasons, we can only return your money to a UK bank or building society held in your
name.
13.1.3 You can notify us of your wish to close the Account by writing to us at:
Bank and Clients Plc 30 King Street London EC2V 8EH
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13.2 Closure or Transfer of your account, withdrawals and interest deductions
13.2.1 If your account is described in the Key Account Features document as a notice account,
you are required to give us a certain number of days’ notice of your intention to close or
transfer the Account, or to make withdrawals from it. The number of days’ notice that
applies to your Account is set out in the Key Account Features document.
You may, however, choose to close or transfer the Account, or make withdrawals of
cash from it at any time (without giving us the required amount of notice) subject to an
interest charge as detailed in clause 13.2.3 below. To elect to do this you will need to
give us notice of your intention to do so in writing.
13.2.2 If your account is described in the Key Account Features document as a fixed term
account, you will be charged interest if you wish to close or transfer it prior to the
maturity date. The interest charge that applies to your Account is set out in the Key
Account Features document.
13.2.3 If you choose (i) not to give us the required number of days’ notice or (ii) if you close
your fixed term account before the maturity date, we will make a deduction of interest
from your Account. In that case we will use the following calculation to determine the
amount of the interest deduction to be applied to a withdrawal or closure:
Amount of withdrawal or closure amount x annual interest rate/365 x N days
(where N = the number of days’ notice set out in the Key Account Features)
13.2.4 If you have made a payment into your Account during a Tax Year and then close your
Account, you will not be able to re-open another Cash ISA with us or an ISA with any
other ISA Provider in the same Tax Year. For this reason, in some circumstances you
may prefer to transfer your Account rather than to have it closed.
13.3 When we can close your Account
13.3.1 We may close your Account at any time by giving you 2 months’ written notice.
13.3.2 We may, however, end the Agreement immediately or with less than 2 months’ notice if
reasonably believe that you have:
a) acted abusively, offensively or violently towards our staff;
b) become bankrupt;
c) misused your Account;
d) acted dishonestly with us;
e) acted in any way that gives rise to reasonable suspicion of fraud or other criminal
activities;
f) seriously or persistently broken any terms of the agreement:
g) put us in a position where we might break a law, regulation, code or other duty if we
maintain your Account;
h) given us false information;
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i) committed or attempted to commit fraud against us or someone else;
j) used your Account illegally or for criminal activity; or
k) inappropriately let someone else use your Account.
13.3.3 We can close your Account if it becomes apparent that you are using your personal
account for business purposes. If this happens we will move you to a business account.
13.4 We can also close your Account if there are good commercial reasons for doing so. Where your
Account has a nil balance, we may close your Account on 30 days’ written notice; otherwise, we
will give you at least 2 months’ written notice. In the event that we do close your Account in this
manner will contact you to agree the process by which we will return your money to you. We will
pay all sums due on closure by transfer to your nominated account, which must be a UK bank or
building society account held in your name.
14. STATEMENTS
14.1 On or shortly after the date on which interest is paid on your Account, we will provide you with an
annual statement of account. We recommend that you review the transaction confirmations and
period statements that are sent to you.
14.2 We will provide you with an additional statement of account on request for any charges made on
your Account.
15. TRANSFER OF RIGHTS
You may not hold the Account on trust for any other person or entity. It is your account, for your
benefit. It must not be used as security to a third party, but may be used as a means to repay a loan
16. DEATH OF AN ACCOUNT HOLDER
If you die while you have a Cash ISA the tax free status of the ISA will end on the date of your
death. On the death of the Account holder further payments into the Account will not be
permitted but the Account will continue to accrue interest at the applicable Cash ISA rates until
closure. Interest accrued to the date of death will, on closure of the account, be paid without
deduction of tax. All interest accrued from the date of death will be liable to deduction of tax
at the basic rate. The account will be closed on production of the appropriate documentation.
Your spouse or civil partner may be entitled to use the balance of the Account to make an
additional subscription to an ISA product held in their name.
17. DORMANT ACCOUNTS
We will treat an Account as inactive if you do not make any transactions, enquiries or changes to
your Account within any three year period and if correspondence or a statement is returned as
undelivered. Interest will continue to be applied in accordance with the terms of the applicable
product. To reactivate the Account we would need to re-obtain evidence of your identity and
confirmation of your address. These measures are for security and to protect you and your funds.
18. ELECTRONIC VERIFICATION
18.1 We are required by law to verify the identity (including the addresses) of our account holders. We
may endeavour to verify your details by making an electronic search. This search will not reveal or
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affect your credit history. If our search is unsuccessful we may reject your application for an
account pending further satisfactory verification.
18.2 We will also periodically undertake further electronic searches or ask you to provide
additional information relating to your identity and residential address to ensure our records are
kept up to date.
18.3 If you fail to supply evidence when requested we will be unable to open your Account or may have
to suspend transactions on your existing Account.
19. SET OFF
19.1 If you owe money on another product which you hold with Bank and Clients Plc (for example, a
mortgage) and you hold money in your Account, we are entitled to use the money in your Account
to repay your debt. This right extends to joint accounts or any other joint products you hold with
us.
19.2 We will contact you to inform you of the circumstances in which we are considering exercising our
right to set-off. If we use this right, we will inform you that we have done so. We will generally
only use our right to set-off to make up your most recent missed payment on a product, however,
we may also take more than one missed payment if you have failed to respond to repeated attempts
by us to make contact with you regarding your missed payments on a product.
19.3 We will not use the right of set-off:
19.3.1 against money in your Account which you have informed us does not belong to you;
19.3.2 against money in your Account which we are required to hold for someone else;
19.3.3 in a way which would contravene any law, regulation or industry standard; or
19.3.4 against any money in your Account which we think you need to meet essential living
expenses or certain important debts.
B&C | 30 King Street | London EC2V 8EH | UK | T +44 (0) 808 164 8040 | www.bankandclients.com B&C is the trading name of Bank and Clients Plc, which is authorised by the Prudential Regulation Authority (PRA) and regulated by the PRA and the Financial Conduct Authority. Registered office: 30 King Street London EC2V 8EH UK. Financial Services Register number 204459. Company number 00980698.
V5 – November 2018
Tariff of Banking Charges
Payments into your account
Name of fee When is this fee payable Amount
Credit in Receipt of cheque, electronic transfer, direct debits No charge
Cash in Receipt of cash into your account – handling charge 1% per £100
Payments out of your account
Name of fee When is this fee payable Amount
Cash out Withdrawing cash from your account – handling charge
1% per £100
Electronic transfer Same day electronic transfer of funds from your account
No charge
Draft fee (urgent of
standard) Organising the withdrawal of funds from your account by way of bankers draft
As advised
International
payment Funds sent electronically on your behalf to an account held outside the United Kingdom
As advised
International
payment admin fee
Charged by Bank and Clients to cover the additional administration duties involved in making an international payment
£25.00
Payment out Payment of funds from your account by cheque No charge
Miscellaneous services
Name of fee When is this fee payable Amount
Clearance of foreign cheques
Certain foreign currency cheques made payable to the account holder. The clearing banks charges will be deducted from the sterling value received
£10.00
Duplicate
information Copy documents other than statements. Charge per document
£10.00
Duplicate or
additional statements Issued at your request £5.00
Statements Issued annually with interest certificate No charge
Stopped cheque When you instruct us to cancel a cheque we have issued to you if it has been lost or stolen
£25.00
Unpaid cheques Cheques issued by you or a third party which have to be re- presented or are returned unpaid
£30.00
Unpaid direct debits Direct debits reclaimed by your bank due to insufficient funds
£30.00
B&C | 30 King Street | London EC2V 8EH | UK | T +44 (0) 207 042 9700 | www.bankandclients.com B&C is the trading name of Bank and Clients Plc, which is authorised by the Prudential Regulation Authority (PRA) and regulated by the PRA and the Financial Conduct Authority. Registered office: 30 King Street London EC2V 8EH UK. Financial Services Register number 204459. Company number 00980698.
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B&C Privacy Notice
We are Bank and Clients Plc (an English company registered in England & Wales). Our Company Number is 980698. Our registered office is at 30 King Street, London EC2V 8EH.
Our Data Protection Officer who is responsible for how we deal with data is Georgina Behrens who can be contacted on [email protected]. A. How we deal with information relating to customers B. Identity Checks C. How long we keep information relating to you D. Your rights E. Your right to lodge a complaint with the ICO
A. How we deal with information relating to customers
This is how we deal with information relating to our customers: i) We deal with information relating to our customers in order to provide products and services
to our customers in accordance with the terms of our contract with them. We process personal data, which includes but is not limited to, names; addresses; date of birth; occupation; various financial data; telephone and email details; place and country of birth; passport, NI, tax reference and other ID numbers and details; and transactional and bank details. We keep this information for 7 years after our relationship with a customer ends so we have a record of what happened during that contract.
ii) We also use much of the information referenced above to run identity checks in line with our Identity Checks section below. In running those checks, we may provide relevant pieces of information to third parties who assist us with those checks (such as Experian). We have written contracts with those third parties and we ensure your information is dealt with according to our direction only.
iii) When potential customers apply to become customers, we also collect the same type of
information as in (i) in order to run through our on-boarding procedures so they can become customers. In other words, we collect and use this information because it is preparatory to making a contract with us at the request of the person concerned. If these potential customers become customers, we deal with this information as in (i) above. If these potential customers do not become customers, then we delete this information after 7 years. (We keep it this long so we have records of who has applied unsuccessfully to be a customer.) We also use much of the same information to run identity checks in line with our Identity Checks section below. In running those checks, we may provide relevant pieces of information to third parties who assist us with those checks (such as Experian). We have written contracts with those third parties and we ensure your information is dealt with according to our direction only.
iv) We may share your information from time to time with third parties such as any individuals you authorise to act on your behalf and regulatory authorities and crime prevention agencies whether in the UK or overseas, in connection with crime prevention, anti-terrorism, anti-money laundering or fraud prevention. We will hold and process this personal information in accordance with applicable data protection laws in force from time to time and may, where so
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required, share it with third parties for the purposes of considering applications you make for additional banking products; complying with a court order; complying with regulatory requirements; complying with applicable legislation; credit checking; preventing crime, fraud and money laundering; and verifying your identity.
v) An example of when we may be required to share personal information with third parties
outside the UK is if you have or may have tax obligations in other countries outside the UK. In these circumstances we may be required to disclose information about you directly to the tax authorities in those countries, to HM Revenue & Customs or to any other relevant tax authority or authorities.
vi) Other than as set out above we will not share your information or divulge it to third parties unless we specifically seek your consent to do so and we obtain that consent in writing.
vii) Please note that if false or inaccurate information is provided by you to us during your application process and any fraud is subsequently identified we reserve the right (and may be required) to pass details to fraud and crime preventions agencies. In addition, law enforcement agencies may also request, access and process this information.
viii) As a customer of the Bank we may use your data to provide you with relevant information about our products and services. Should you wish us to stop sending you information about products and services you can contact our Data Protection Officer at [email protected], or if you receive this information electronically, by clicking the unsubscribe link in our communications.
ix) We collect and use information submitted by visitors to our websites in order to market products and services to those people. We process personal data, which includes but is not limited to, name, age, electronic and real world contact details, various ID information and IP addresses. However, we only do this because we have received in advance your specific, informed unambiguous consent to collect and use this data to market to you. You can withdraw that consent at any time by contacting our Data Protection Officer at [email protected].
B. Identity Checks
CRAs: In order to process a credit application, we will perform credit and identity checks on you with one or more credit reference agencies (known as “CRAs”). Where you take banking services from us we will also make periodic searches at CRAs to manage your account with us. To do this, we will supply your personal information to CRAs and they will give us information about you. This will include information from your credit application and about your financial situation and financial history. CRAs will supply to us both public information (including the electoral register) and shared credit, financial situation and financial history information and fraud prevention information. We will use this information to: - Assess your creditworthiness and whether you can afford to take the product; - Verify the accuracy of the data you have provided to us; - Prevent criminal activity, fraud and money laundering; - Manage your account(s); - Trace and recover debts; and - Ensure any offers provided to you are appropriate to your circumstances.
We will continue to exchange information about you with CRAs while you have a relationship with us. We will also inform the CRAs about your settled accounts. If you borrow and do not
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repay in full and on time, CRAs will record the outstanding debt. This information may be supplied to other organisations by Agencies. When CRAs receive a credit search from us they will place a search footprint on your credit file that may be seen by other lenders. If you are making a joint application, or tell us that you have a spouse or financial associate, we will link your records together, so you should make sure you discuss this with them, and share with them this information, before lodging the application. CRAs will also link your records together and these links will remain on your and their files until such time as you or your partner successfully files for a disassociation with the CRA to break that link. The identities of the CRA, its role also as a fraud prevention agency, the data it holds, the ways in which it uses and shares personal information, data retention periods and your data protection rights with the CRA are explained in more detail at www.experian.co.uk/crain. C. Transfer of information outside of the EEA We do not transfer any of your information to any country outside the European Economic Area in our ordinary course of business. We may be required to do so to comply with ordinary course legal or regulatory reporting obligations such as FATCA where we have already notified you of such. D. How long we keep information relating to you We keep your data for 7 years after our relationship with you ends. E. Your rights Under certain circumstances, you have rights under data protection laws in relation to information relating about you that B&C has, as summarised below. You have the right to: 1. Request access to your personal information (commonly known as a “data subject
access request”). This enables you to receive a copy of the personal information we hold about you and to check that we are lawfully processing it.
2. Request correction of the personal information that we hold about you. This enables
you to have any incomplete or inaccurate data we hold about you corrected, though we may need to verify the accuracy of the new data you provide to us.
3. Request erasure of your personal information. This enables you to ask us to delete or
remove personal information where there is no good reason for us continuing to process it. You also have the right to ask us to delete or remove your personal information where you have successfully exercised your right to object to processing (see below), where we may have processed your information unlawfully or where we are required to erase your personal information to comply with local law. Note, however, that we may not always be able to comply with your request for erasure for specific legal reasons which will be notified to you, if applicable, at the time of your request.
4. Request restriction of processing of your personal information. This enables you to
ask us to suspend the processing of your personal information in the following scenarios: (a) if you want us to establish the accuracy of the data; (b) where our use of the data is unlawful but you do not want us to erase it; (c) where you need us to hold the data even if
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we no longer require it as you need it to establish, exercise or defend legal claims; or (d) you have objected to our use of your data but we need to verify whether we have overriding legitimate grounds to use it.
5. Request the transfer of your personal information to you or to a third party. We will
provide to you, or a third party you have chosen, your personal information in a structured, commonly used, machine-readable format. Note that this right only applies to automated information which you initially provided consent for us to use or where we used the information to perform a contract with you.
If you wish to exercise any of the rights set out above, please contact your usual business contact or contact our Data Protection Officer. We aim to respond to all legitimate requests within one month. Occasionally it may take us longer than a month if your request is particularly complex or you have made a number of requests. In this case, we will notify you and keep you updated. You will not have to pay a fee to access your personal information (or to exercise any of the other rights). However, we may charge a reasonable fee if your request is clearly unfounded, repetitive or excessive - alternatively, we may refuse to comply with your request in these circumstances. We may need to request specific information from you to help us confirm your identity and ensure your right to access your personal information (or to exercise any of your other rights). This is a security measure to ensure that personal information is not disclosed to any person who has no right to receive it. We may also contact you to ask for further information in relation to your request to speed up our response. F. Your right to lodge a complaint with the ICO If you feel that we have not handled information relating to you properly, or if you have contacted us about how we use that information and are unhappy with our response, you have the right to lodge a complaint with the Information Commissioner’s Office by phone on 0303 123 1113 or online at ico.org.uk/concerns/ Last updated 25 May 2018