Fixed Term Deposit Account T&Cs

1.    INTRODUCTION TO CONISTER BANK - WHO WE ARE, HOW WE CONTACT YOU & HOW TO CONTACT US

a. Conister Bank is the English-registered branch office of Conister Bank Limited (CBL), a foreign company registered at Companies House in the UK as an overseas company with number FC038886.

b. Conister Bank is established at Fourth Floor East, Matrix House, Basingstoke, Basing View, RG21 4FF, and is registered at Companies House with number BR023981. 
  
c. CBL is a private limited company incorporated in the Isle of Man whose registered address is at Clarendon House, Victoria Street, Douglas, Isle of Man, IM1 2LN. It was established in the Isle of Man in 1935.

d. CBL’s latest report and accounts can be found on our websitewww.conisterbank.co.uk.

e. CBL is authorised and regulated by the Isle of Man Financial Services Authority in the jurisdiction of its registered office. Conister Bank is authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request.

f. CBL is a wholly owned subsidiary of Manx Financial Group Plc (MFG), a publicly listed holding company on the London Stock Exchange Alternative Index Market. MFG is incorporated in the Isle of Man and has subsidiaries in the Isle of Man and in the UK engaged in financial services for retail and commercial customers. Those services include personal and commercial banking, retail and wholesale lending, financial advice and foreign exchange.

g. References below to ‘Conister Bank’, ‘we’, ‘our’, ‘us’ means Conister Bank trading from its registered branch office at Fourth Floor East, Matrix House, Basingstoke, Basing View, RG21 4FF.

h. All notifications we give you under and pursuant to these Terms and Conditions will be given to the first named Account holder (listed in your Application Form) using all of the following methods together: 

(i)    using the method of communication chosen by you in your Application Form,  
(ii)    electronic mail, 
(iii)    Text Message, and
(iv)    posted online on your secure personalised page of our Self-Service Portal or through your mobile app. 

For the avoidance of doubt, notifications given by us will be deemed received by you on the date on which they are issued and sent.

i.    You can contact us as follows:

a.    On our website: www.conisterbank.co.uk
b.    Through the secure messaging function in our Self-Service Portal. 
c.    Email: savingsuk@conisterbank.co.uk
d.    Telephone (freephone): 01256 581000
e.    Post: Conister Bank, Fourth Floor East, Matrix House, Basingstoke, Basing View, RG21 4FF.

2.    DEFINITIONS

‘Account(s)’ means your (credit only) Fixed Term Deposit Account(s) held in your sole name with us from time to time with a fixed rate of interest and a fixed term.
‘Application Form’ means the form by which you apply for an Account via the on-line savings portal.
‘Associated Companies’ means CBL, any of its subsidiaries, its parent company, and any of its parent company’s subsidiaries worldwide.
‘Business Day’ means any day when we are open for business (excluding Saturdays, Sundays, public and bank holidays in the United Kingdom.
‘BCOBS’ means FCA’s Banking Conduct of Business Sourcebook with which we must comply.
‘Clearing Bank’ means a commercial bank that is a member of the UK clearing system.
‘Clearing Bankers’ means our Clearing Bank, who is National Westminster Bank Plc.
‘Cleared for Use’ means the point at which funds from a Direct Transfer have been credited to your Account (or to your Instant Access Account) and are available for use.
‘Deposit’ means funds, which must be denominated in GBP Sterling, which have been Cleared for Use and received and accepted by us to open your Account.
‘Distance Marketing Information’ This is information concerning our Fixed Term Deposit Account we are required to provide consumers before they become bound by these Terms and Conditions. It is information that complies with BCOBS 3.1.2R(1). 
‘Direct Transfer’ means any transfer of GBP Sterling denominated funds through the UK banking system including but not limited to SWIFT payments, telegraphic transfers, CHAPS payments, payments via the Faster Payments service or any other generally available electronic transfer method including BACS transfers.
‘English Law’ includes all England and Wales primary and secondary legislation, all regulations, rules, orders, guidance issued by the FCA, PRA or by any other UK regulatory or governmental authority and includes all UK anti-money laundering, data protection and anti-bribery laws, regulations and guidance and any direction or other regulatory decision made by the FCA, the PRA, the Bank of England, the JMLSG or any other UK regulator or governmental authority.
‘FCA’ means the Financial Conduct Authority.
‘Fixed Term’ means, whichever of the following fixed term deposit account periods you select in your Application Form: 6 months, 9 months, 1 year, 15 months, 18 months, 2 years, 3 years, or 5 years. 
‘HMRC’ means His Majesty’s Revenue and Customs.
‘Instant Access Account” means the account explained in clause 3 below.
‘Instant Access Interest Rate’ means the nominal rate of interest which in our absolute discretion we apply to your (credit only) Instant Access Account on any credit balances held in that account from time to time and which we reserve the right to vary from time to time without notice.
‘JMLSG’ means the Joint Money Laundering Steering Group which has been producing guidance for the financial services sector since 1990, initially in conjunction with the Bank of England, and which consists of the leading UK financial services trade associations (listed on the JMLSG website), the purpose of which is to outline the legal and regulatory framework for anti-money laundering and counter-terrorist financing requirements and systems across the financial services sector.
‘Loss’ means any loss whatsoever that we are not prohibited from excluding by law, including but not limited to direct loss and damage, other banks’ charges or losses, economic loss, special loss, punitive loss, currency exchange loss, indirect and consequential loss.
‘Maturity Date’ means the date on which the Fixed Term ends as specified within your secure personalised page of our online Self-Service Portal. If such date is not a Business Day, then it means the first Business Day thereafter.
‘Minimum Deposit Amount’ means £5,000, which must be denominated in GBP Sterling and must be paid by Direct Transfer.
‘Nominated Bank Account’ means a bank account in your name held with a UK bank to which the capital and interest accruing due on your Account (or Instant Access Account) will be paid, as provided by you in your Application Form.
‘Our Office’ means our registered branch office at Fourth Floor East, Matrix House, Basingstoke, Basing View, RG21 4FF.
‘PRA’ means the Prudential Regulation Authority.
‘Reportable Information’ means such information as we determine or English Law requires in relation to applicable international reporting obligations and/or best practice including, for example but without limitation, information on you, any associated persons or entities and others regarding residence, domicile, transactions, source of funds, interest credited to Accounts, the value of investments, assets and relationships.
‘Retail Banking Customer’ means for the purposes of these Terms only, any natural person who is UK resident, aged 18 or older and is acting for purposes outside their trade, business or profession.
‘Self-Service Portal’ means the secure online portal that contains your product and personal information to allow you to view and manage your Account as well as contact us from time to time. 
“you”, “your” and “Account holder” mean the individual(s) who signed the Application, as Retail Banking Customer, and includes their successors and assigns to the fullest extent permitted by law.
In these Terms and Conditions, the singular includes the plural and vice versa and reference to any gender includes all genders.

3.    YOUR FIXED TERM DEPOSIT ACCOUNT 

a)    These are Conister Bank’s Terms and Conditions for your Account. These Terms and Conditions are contained on our website and may be downloaded, stored electronically and/or printed and stored by you. They were also provided to you electronically when you applied for this Account alongside the Distance Marketing Information contained on our webpage.

b)   Our Fixed Term Deposit Account product is currently available to our Retail Banking Customers only.

c)   The Account is for a Fixed Term as selected by you in the Application Form. The Fixed Term commences on the day the Account is funded in at least the sum of the Minimum Deposit Amount of £5,000 which must be Cleared for Use. We will notify you promptly once the Account has received funds Cleared for Use. That notification will include the: 

(i)    Account number, 
(ii)   amount deposited, 
(iii)  interest rate to be applied during the Fixed Term, and 
(iv)  maturity date for the Account.

d)    We will not open an Account and an Account will not be treated as having been opened unless and until each of the following conditions has been satisfied:
(i)   We have received from you a fully completed Application Form.
(ii)   We have verified your identity, residency and age in accordance with our regulatory obligations.
(iii)  We have notified you that we have accepted your Application Form.
(iv)  We have received from you your approval for the performance of these Terms and Conditions to commence. Your approval shall be deemed to have been given upon receipt by us from you of a deposit Cleared for Use. At least the Minimum Deposit Amount must be received by us within 30 Business Days of the date of our notification in 3(d)(iii) above. If it is not received within 30 Business Days, it will be dealt with in accordance with clause 3(f)(ii) below.

e)    Subject to clauses 3(d)(iv) above and 3(l) below, we can accept multiple Deposit payments from you in relation to your Account up to the Maximum Deposit Amount of £100,000, but only if such payments are made by Direct Transfer within 30 calendar days from the date on which you receive notification from us that your application has been successful and your Instant Access Account details have been provided into which your Deposit will be initially transferred pending allocation to your Account (see 3(f) below). Once we have received the Minimum Deposit Amount and any additional Deposit payments you will be able to view your Account balance online through the Self Service Portal.  

f)    Your Deposit may be held in or transferred by us to an Instant Access Account, but only in the following circumstances:

(i)    Pending allocation to your Account, immediately prior to the Deposit being Cleared for Use in your Account; 
(ii)    If we do not receive the Minimum Deposit Amount within 30 Business Days of the date of our notice informing you that we have accepted your Application Form before the balance standing to the credit of your Instant Access Account will be returned to sender; 
(iii)    If not made in accordance with clause 3(l); and
(iv)    On maturity of your Fixed Term Deposit Account where we have not received any payment instructions from you. In those circumstances, we will transfer the balance of our matured Account to your Instant Access Account on the basis described in 3(g) to (i) below.

g)    Instant Access Accounts are not transactional, they are for use temporarily and will therefore attract a nominal interest rate paid at the Instant Access Interest Rate. We will inform you of that rate by: 
(i)    posting it on our website, or
(ii)    posting a message to you on f our online Self-Service Portal, or 
(iii)   writing to you by electronic mail at the e-mail address specified in your Application Form.

h)    We will calculate and accrue interest using the Instant Access Interest Rate on your Instant Access Account on a daily basis. The accrued Instant Access Interest Rate payment will be credited to your Instant Access Account on a daily basis on the date that the funds were first deposited into the Account or upon closure of the Account.

i)    You may close or transfer funds out of the Instant Access Account without notice or penalty. These funds will be transferred to your Nominated Bank Account on receipt of your instructions given in accordance with 3(k) below.

j)    Should we not receive any written instruction from you via the our online Self-Service Portal or by email or by phone within three months of us having notified you that we require your instructions, we reserve the right to return the balance of the Instant Access Account (including interest where any has accrued due) to the Nominated Bank Account you used to fund the Account the details of which are as set out in your Application Form.

k)    We will only accept instructions in respect of your Account and in relation to your Instant Access Account through the Self-Service Portal, by telephone and by email from: 
(i)    you, or
(ii)    from an authorised signatory (see clause 3(u) below), or 
(iii)    from your Personal Representative (see clause 13 below).

 
l)    We cannot accept Deposits into your Account which are: 

(i)    not denominated in GBP Sterling, 
(ii)   not paid by Direct Transfer, 
(iii)  below the Minimum Deposit Amount (though we can accept these into your Instant Access Account), 
(iv)  in excess of the Maximum Deposit Amount, or
(v)   made after 30 calendar days from the date you received notification from us that your Account as your account access will be revoked.   

m)    Subject to 3(o) to (q) below, payments made by Direct Transfer into your Account will be credited to your Account no later than one Business Day after the date on which we receive those payments provided that the originating or intermediary institution supplies full and correct details.

n)    We may in our absolute discretion refuse to accept a Deposit from you. If we do so, we do not need to give you a reason and, in those circumstances, we will return the funds to the remitting bank.

o)    Where we receive payments electronically and they cannot be applied to your Account for any reason, they will be returned to the remitting bank, net of any charges. We do not accept any responsibility for any Loss or charges arising as a result of the return of these funds.

p)    We will not be liable, in respect of any funds being deposited or withdrawn, for any Loss arising from delay in the transmission of funds due to causes beyond our reasonable control or for any charges levied by handling banks involved in the transmission of funds.

q)    Where we reject and return payments (including Deposits), they will be returned to the sender via the same method we received them and to the same account. We will not accept any responsibility for any Loss or charges arising as a result of the return of these funds, including for the avoidance of doubt any losses from the foreign exchange conversion of said funds by our Clearing Bank.

r)    You agree that we will not be responsible for any Loss resulting from your failure to safeguard the username and password you use to access and manage your Account online at our Self-Service Portal. We do not accept responsibility for the security of any information sent by you to us by email.

s)    You cannot close or make withdrawals from the Account during the Fixed Term of your Account. You can close your Account only on maturity, at the end of the fixed term. We may, in our absolute discretion permit requests to close or make a withdrawal from your Fixed Term Deposit Account prior to maturity. Closure and withdrawals in such cases will be processed in accordance with Clause 6(c) below. 

t)    We may close your Account at any time. And we reserve the right to do so if we have not received your Deposit in full within 30 Business Days of the date of our notice informing you that we have accepted your Application Form. If we do so we do not need to give you a reason.  If we close your Account, we will return the balance of the Account to you at the bank account provided to us in your Application Form, together with any interest that has accrued due by the closure date.

u)    If any other person(s) who is/are not an Account holder is to be authorised by you as a signatory on your Account, you must provide us with such identification and proof of residential address documents as we reasonably require relating to such proposed signatory or signatories. Typically, that information includes a valid and executed Power of Attorney.

4.    ACCOUNT BALANCES AND INTEREST PAID ON BALANCES STANDING TO THE CREDIT OF THE FIXED TERM DEPOSIT ACCOUNT

a)    You can access your Account balance and give instructions in relation to your Account on our Self-Service portal. However, on your request we will also provide you free of charge with a soft copy of your Account balance, which will be sent to the email address listed in your Application Form.

b)    Interest will paid gross. Gross interest is the interest payable without taking account of any tax payable. From 6 April 2016, we are no longer required to deduct tax from the interest earned on your savings following the introduction of the Personal Savings Allowance. That means that you may get up to £1,000 of interest and not have to pay tax on it, depending on which Income Tax band you are in. If you earn interest in excess of your Personal Savings Allowance you will be required to pay any tax due yourself directly to HMRC. If you would like to read more about your Personal Savings Allowance, please visit: Tax on savings interest: How much tax you pay - GOV.UK (www.gov.uk)

c)    Interest credited to your Account during the Fixed Term will be notified to you in the deposit letter confirmation you will receive from Conister Bank on opening your Account.

d)    The rate of interest (in numerical figures) applied to your Account is set out online on our website and in your secure personalized page of the Self-Service Portal. The rate of interest paid in respect of the Deposit held in your Account will not be altered during the Fixed Term of your Account.

e)    Interest will be calculated at 1/365 for each day in the year, or at 1/366 when February 29th falls in the account year of the Account.

f)    Money paid into your Account by Direct Transfer or by BACS will accrue interest from the day cleared funds are received up to but excluding the date of closure.

g)    Interest is applied to your Account on the Maturity Date, or annually, or monthly, as indicated by you on your Application Form and it is paid by transfer in GBP Sterling to a Nominated Bank Account in the United Kingdom.

h)    Interest that is to be paid annually, will be paid 12 months from the date of Account opening.

i)    In relation to Interest that is to be paid monthly, the first payment will be made one month after the date on which the Account was opened. By way of example, Account holders who selected monthly interest and opened their Account on the 17th of the month, the first interest payment will be made on the 17th of the following month or on the next Banking Day should the 17th fall on a non-Banking Day.

 

5.    RIGHT TO CANCEL

a)     You have the right to cancel your savings account provided you email savingsuk@conisterbank.co.uk or call us on 01256 581000 within 14 calendar days from:
b)    the date you opened your savings account and made your first deposit; or
c)    if later, when you first received the Terms and Conditions.

 

6.    MATURITY

a)    30 Business Days and14 Business Days before your Account reaches maturity, we will notify you: 
(i)    confirming the date when your Account will mature, 
(ii)    to tell you about the options available to you. 
. 
b)    You will need to submit your maturity instructions by logging into your Account online via our Self-Service Portal, or by email or by telephone.  You may ask us to:
(i)    transfer the whole of the Account balance (principal and interest) to the Nominated Bank Account you used to fund your Account,
(ii)    re-invest the principal amount of your Deposit in another available deposit product with us, and transfer the interest accrued to the Nominated Bank Account you used to fund your Account, or
(iii)    Reinvest a portion of the principal to be specified by you in another available deposit product with us and have the remainder of the principal and interest paid in the nominated UK bank account you used to fund your Account.

c)    All withdrawals from your Account will be paid by:
•    A Direct Transfer to a GBP Sterling denominated bank account held in your name with another bank or building society in the United Kingdom.  
For the avoidance of doubt, we reserve the right to select the method by which a Direct Transfer is made by us.

d)    We will carry out your withdrawal instructions as soon as possible after receiving them (unless further information is required to enable us to meet our regulatory requirements and obligations prior to acting upon any instructions).
 
e)    We cannot accept instructions for withdrawals at specific times on specific days (commonly known as ‘timed instructions’). Such days and times include bank holidays’ Christmas Day, and after 3pm. However, we will endeavour to action withdrawal requests within one (1) Banking Day of our receipt of the request subject to any conditions we may require being met. In certain circumstances this may not be possible and the withdrawal instruction will be actioned as soon as possible.

f)    We will not be liable or responsible for any deductions made to the value of funds transferred by us to your beneficiary bank.

g)    We assume no responsibility for electronic mail or other communication delays or failures, (including but not limited to) external clearing system lead times, processing times or for any Loss which may arise in relation to the operation of your Account.

h)    We will not be liable or responsible for not completing your instructions if:
(i)    you have failed to provide us with identification and proof of residential address documents and other information and or documentation required by law/regulations and/or our internal Know Your Customer policies and procedures; or
(ii)    we are prohibited by law from allowing a withdrawal from your Account; or
(iii)   your Account is closed, or otherwise blocked; or
(iv)   you have not provided us with complete, clear and correct payment instructions; or
(v)    your instructions contravene or could contravene law or regulation; or
(vi)   we are delayed or prevented from carrying out, or fail to carry out your instructions due to an event beyond our reasonable control, including but by no means limited to industrial action, or the failure of any of our machines, data processing systems, transmission links, or because there has been a failure in any part of the internal or external banking systems used to make direct payments or any terminal or telecommunication device used in connection with the external banking systems.

i)    We reserve the right to contact you regarding, amongst other things, withdrawal requests, in order to perform security checks or regarding your Account generally. We will not be liable or responsible for the consequences of any delay or any Loss arising as a result of us being unable to contact you to complete our security checks. It is your responsibility to ensure that we are provided with accurate and up to date contact details including telephone numbers.

j)    We may in our absolute discretion refuse to make a payment from your Account if we feel we have a legal or regulatory reason for doing so.

 

7.    STOPPING PAYMENTS

a)    You cannot cancel or stop a Direct Transfer from your Account once the Direct Transfer has been entered onto our systems.

b)    We may recall funds made by Direct Transfer if we believe that the original instruction may not have been genuine or otherwise contravened or could contravene law or regulation. We will use all reasonable endeavours to recall the funds. We will not, however, be held responsible for the delay or failure to recall funds in such circumstances or for any Loss arising from any such delay or failure or recall.

8.    ACCOUNT DISPUTES

a)    If we reasonably believe that there is a disagreement about your Account or about who owns the money in your Account we may block your Account. This will mean that we will not permit any payments in, or withdrawals out, or carry out any other instructions and may not enter into communication with you regarding any claim until we are satisfied that the disagreement is settled. We may also, at our absolute discretion, take such steps as we deem necessary including, without limitation, taking legal advice and applying to court by way of interpleader or analogous process, and shall not be liable for complying with the order of any such court. In any event we shall be entitled to charge you the amount of any legal or other costs incurred by us in protecting our interests. We will not be liable for any Loss arising as a result of your Account being blocked.

b)    In the event of any court order, injunction or direction, being presented to us which obliges us to restrict, freeze or terminate your use of the Account we reserve the right to debit the Account, at the time the relevant order, injunction or direction is lifted as specified or otherwise, with any costs we may incur. We will not be liable for any Loss arising as a result of restrictions being placed on your Account as a result of any such order, injunction or direction being made.

 

9.    OTHER SERVICES - FOREIGN EXCHANGE 

a)    We will not provide foreign exchange services under any circumstances; however, should you require foreign exchange services, we would be happy to introduce you free of charge and commission to another Manx Financial Group company called MFX Limited who provide currency exchange facilitation services with core foreign exchange providers. Please let us know if you require these services and would like to be introduced to discuss your requirements with MFX Limited.

10.    AUTOMATIC EXCHANGE OF INFORMATION

a)    Upon the coming into force under English Law of automatic tax or other information exchange agreements between the UK and other countries from time to time (whether based on bilateral agreements or multilateral global initiatives such as, without limitation, the Organisation for Economic Co-operation and Development’s Common Reporting Standard, or otherwise), such as FATCA with the United States of America and the UK Common Reporting Standards (CRS), we may be required to collect Reportable Information and to disclose Reportable Information to foreign tax or governmental authorities either directly or via His Majesty’s Government. You hereby agree to hold us harmless in respect of any collection or disclosure of Reportable Information.

b)    You must inform us if there are any changes to your details as given either in your Application Form or at any subsequent date via our online Self-Service Portal. This obligation relates to information including, but not limited to, any change to your residency (e.g., if you cease to be resident in the UK or if you become resident in another jurisdiction), change of name, address or contact details. You must provide us with documentary evidence of the change on request. (Please refer to our FAQs for more information about this).

c)    Without prejudice to Clause 10b, you agree to provide us, as soon as reasonably practicable following a request, all information and/or documentation which we may reasonably require from time to time for the purposes of ensuring that we comply with English Law or applicable law in any other relevant jurisdiction which requires us to establish, maintain or operate measures to prevent money laundering or the financing of terrorism or to disclose Reportable Information.

 

11.    CHARGES AND OUR RIGHT OF SET-OFF

a)   You agree to pay us all banking and handling charges incurred in the operation of your Account including but not limited to bank transfer fees whether levied by us or by other banks or agents. Those fees and charges are set out on our website.

b)   We will deduct money from your Account to meet any charges due and owing to us by you as and when they are incurred.

c)   We may introduce charges for other banking services and may vary the amount of our charges for any of our services for any reason. We may also change the way you have to pay charges if we believe it is reasonable to do so.

d)   We may make further charges for any costs incurred by us as a result of any negligent or improper act, default or neglect by you.

e)   You authorise us to debit your Account to reduce or repay any amounts you may owe us on your Account. We will always give you thirty (30) days’ notice if we propose to exercise our right of set-off, before we debit your Account with any amount owed.

12.    ANTI-MONEY LAUNDERING 

a)   We are not obliged to accept your Application Form. If we refuse, the matter will be in our absolute discretion and we will not be obliged to give a reason.

b)    We reserve the right to operate any anti-money laundering checks we see fit.

13.    PERSONAL INFORMATION AND DATA PROTECTION

a)    Conister Bank is the Data Controller for all the personal information we hold about you in relation to your accounts with us.

b)    We collect and process various categories of personal and financial information throughout your relationship with us, to allow us to provide our products and services and to run our business. This includes basic personal information such as your name and contact details, and information about your financial circumstances, your accounts and transactions. We may share your personal and financial information where necessary, to provide services under this agreement. For full details about how we may share your personal and financial information with third parties, please refer to our ‘Data Protection – Privacy Notice’. A copy is   viewable on our website which can be found at www.conisterbank.co.uk

c)    We may update our Privacy Notice from time to time, by communicating such changes to you and/or publishing the updated Privacy Notice on our website. We would encourage you to visit our website regularly to stay informed of the purposes for which we process your information and your rights to control how we process it.

d)    If you withdraw consent for us to utilise your information, we will be obliged to terminate your Account. However, we may retain personal and financial information pertaining to you, your directors, individuals with account access, and other pertinent third parties, and employ it as permitted by law. This may include preserving any necessary records for regulatory purposes (please refer to our ‘Data Protection – Privacy Notice’).

14.    INVESTMENT ADVICE

a)    We do not provide (nor do we hold ourselves out as providing or being able to provide) advice on investments or on the suitability of our Fixed Term Deposit Account products or associated services offered to you by us for your particular circumstances, nor do we exercise any judgment on your behalf, especially relating to your tax position, and neither we nor our employees are liable for any loss you might incur arising as a result of you availing yourself of the facilities offered by us (or not, as the case may be). It is your responsibility to take independent advice as to the suitability of facilities for your particular circumstances.

15.    IN THE EVENT OF DEATH

a)    If you die, your personal representative may have to obtain a grant of probate or letters of administration in the UK and provide a certified copy to us before we are able to release the money held in your Account. We will require sight of the proof of death document and grant of representation, or a certified copy of these documents. Any powers of attorney or third-party mandates attached to the Account will cease to be valid on the death of an Account holder.

b)    Once your personal representative has obtained and by letter in writing to us provided us, to our satisfaction, with a grant of probate or letters of administration (as the case may be), they can:
•    Use the Account, or any successor Account, for as long as we may allow; and
•    Seek our consent to close the Account, in which case clause 3(q) above concerning early closure/withdrawal of a Fixed Term Deposit Account, prior to maturity will apply.

 

16.    TRANSFER OF BUSINESS

a)     We have the right on giving you thirty (30) Business Days prior notice in writing, to transfer the sum standing to the credit of your Account to another bank located within the UK (the “successor bank”) offering substantially similar deposit facilities and on substantially the same terms. For this purpose, you authorise us to:
(i)     open an Account with a successor bank in your name;
(ii)    transfer your funds to the successor bank; and
(iii)    Supply your Account records and personal details to the successor bank.

We will use reasonable endeavours to ensure that the successor bank pays and continues to pay interest on the amounts invested, without deduction of income tax or other relevant taxes or levies unless required by law or regulations. On the transfer becoming effective, your Account with us shall be closed and our liability to you to repay the money in your Account shall cease. This right will be exercised only in exceptional circumstances including where we are by law or by regulation prevented from continuing to provide the Account for you and we have not been able to obtain your prior instructions as to where to transfer the sum standing to the credit of your Account.

17.    CHANGES TO OUR TERMS AND CONDITIONS

a)    We may change our Terms and Conditions at any time and for any reason. However, we will not change our rates of interest for existing customers during their Fixed Term.  If we change our Terms and Conditions, we will give you 30 Business Days’ notice about any changes before the change takes effect and by using each of the following methods of communication:

(i)    Posting a message on our website; and
(ii)   Posting a message via the message system on the Self-Service Portal; and
(iii)  Electronic mail to you at the address specified in your Application Form.

We will assist you to move to another retail banking service if you wish to do so.

 

18.    COMPLAINTS

a)  We have written procedures for handling client complaints fairly and promptly in accordance with FCA’s rules, which are available on our website www.conisterbank.co.uk. If you have a complaint, please contact us using any of the methods listed in clause 1(i) above."

b)  Upon receipt of your complaint, we will email you a copy of our complaints handling procedure, along with the name of a staff member appointed to investigate your complaint, who will respond in accordance with the procedure. If we are unable to resolve your complaint, you can refer the matter to the Financial Ombudsman Service. More details are available from the Financial Ombudsman Service: our homepage.

  

19.    DORMANT ACCOUNTS 

a)    We do not participate in the Dormant Assets Scheme established under the Dormant Bank and Building Society Accounts Act 2008. 

b)    Instead, we have a Dormant Account Policy the details of which we provide you with as part of your Application for an Account. . 

c)    If there is no activity on your Account for a period of at least 13 months after Maturity, we reserve the right to make the account dormant and apply additional security procedures as a means of preventing fraud and protecting privacy. We will contact you first to ask whether the account should be kept open. If we do not receive a response within 2 months of contacting you and the account remains inactive we can close the account and return the funds to your Nominated Account. 

d)    When we make a Deposit Account dormant, the funds in the account remain in your beneficial ownership and will continue to attract interest on the same basis as before the Deposit Account was made dormant. Any changes we subsequently make to Interest Rates on Deposit Accounts of the same type will apply to the dormant account and we do not have to notify you personally of this change. 

e)    You may contact us at any time if you believe you have funds in a dormant Deposit Account. In the event of a valid claim, we will advise you of the balance of the Deposit Account, the amount of interest that has accrued if any and how you can access the funds. 

20.    DEPOSITOR PROTECTION 

a)    Details on the protection of eligible deposits and deposits excluded from the scheme can be found in the Information Sheet, provided to you before your opened your Account (a copy of which is available  via the online Self-Service Portal), and can be found on the FSCS website at Financial Services Compensation Scheme | FSCS

PLEASE NOTE:

Your eligible deposits held by Conister Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered.

Please ask/click here for further information on How FSCS protects your money or visit www.fscs.org.uk