Modern Merchant Banking

Transcription

1 Modern Merchant Banking Business Notice Account (BNA) Issue 6 Summary Box This application form cover sheet provides you with two product summary boxes for the terms currently available on this product. Please review both the Business Notice Account rate (Managed¹ rate) and the Fixed² rate paid on funds placed on notice. For the full terms and conditions of the Business Notice Account, please read pages 1 and 2 (guidance notes) of the product application form. Account name What is the interest rate? Can Close Brothers Treasury change the interest rate? What would the estimated balance be after 12 months based on 1,000 deposit? How do I open and manage my deposit? Can I withdraw money? Business Notice Account Please refer to the cash illustrations, shown below. Note, interest is paid into the Business Notice Account semi-annually on 1 January and 1 July. Yes, the Business Notice Account rate (Managed¹ rate) can be changed at any time, however, we must give you at least 1 month's written notice of any reduction in rate. The Fixed² rate for funds placed on notice is the prevailing deposit rate for a fixed term period (a period which is equal to the applicable Business Notice Account notice period). Fixed rates are reviewed on a weekly basis. Please refer to the cash illustrations, shown below. To comply with regulations issued by the Financial Conduct Authority we are required to show a cash illustration based on 1,000 deposit. This is for illustration purposes only; the minimum deposit on this product is 50,000. You can only apply for this product via postal application. To manage your deposit, you can contact us by post, telephone or . Minimum deposit of 50,000 must be maintained at all times, maximum of 5 million per 6 month term and 10 million per 12 month term applies. Yes, you may place a notice instruction to withdraw funds at any time, in writing or over the telephone. Your funds will then be repaid following completion of the product notice period. The minimum sum that can be placed on notice is 10,000. You may place additional funds, ensuring the balance does not exceed the account's applicable maximum balance. Cash illustration - Business Notice Account (Managed rate¹) Cash illustration - Business Notice Account (Fixed rate²) Product name: Example amount: Term: Interest rate (AER*): Estimated balance after 12 months: Product name: Example amount: Term: Interest rate (Gross PA**): Estimated balance after 12 months: BNA 1, Months 1.25% 1, BNA 1, Months 0.95% 1, Cash illustration - Business Notice Account (Managed rate¹) Cash illustration - Business Notice Account (Fixed rate²) Product name: Example amount: Term: Interest rate (AER*): Estimated balance after 12 months: Product name: Example amount: Term: Interest rate (Gross PA**): Estimated balance after 12 months: BNA 1, Months 1.61% 1, BNA 1, Months 1.25% 1,012.50

2 [Blank page] Continue overleaf for the product application form Continued overleaf

3 Modern Merchant Banking Business Notice Account (BNA) Issue 6 Application form and guidance notes Please complete this form in BLOCK CAPITALS and then return to Close Brothers Limited, 4th Floor, 10 Crown Place, London, EC2A 4FT. Please retain pages 1 and 2 for your information. All fields are mandatory, unless stated otherwise. We may have to return incomplete or incorrectly filled forms which may delay the processing of your application. Applying for your Business Notice Account Please carefully read the information on pages 1 and 2, then complete the details requested on pages 3, 4, 5, 6, 7, 8 and 9 in pen using block capitals before signing the Acknowledgement and Confirmation. Please send your completed application form, together with any documentation that we have requested (see Documentation checklist on page 5), to Close Brothers Limited at our above address. If you have any questions about your application, please contact your Local Relationship Manager or call our Business Relationship team on (opening hours: Monday to Friday, 9am - 5pm). Important information The Customer Agreement and Additional Conditions form the standard client agreement upon which we intend to rely. A copy of the Customer Agreement is provided with this application form or can be found on our website ( For your benefit and protection you should read the Customer Agreement and Additional Conditions carefully before agreeing to them by signing and returning this application form to us. If you do not understand any point please ask for further information. Copies of the Customer Agreement are also available upon request by telephoning (opening hours: Monday to Friday, 9am - 5pm). Business Notice Account acceptance criteria The account (the Business Notice Account ) is offered with either a 6 or 12 month notice period. This means that if, for example, you select the Business Notice Account with a 6 month notice period, you will have to give 6 months notice to access any of the funds from that Business Notice Account. Deposits can be made by UK registered companies, UK institutions and UK registered charities. Local authorities, non credit financial institutions, trusts, individual and pension deposits (SIPP/SSAS) are not eligible for the Business Notice Account. This is a limited offer, subject to availability and may be withdrawn at any time. We may refuse a deposit or decline to open an account. For your application to be considered, we must receive your fully completed application form together with your initial deposit by cheque, CHAPS, BACS or Faster Payment. If your deposit is subsequently returned to us unpaid, your application will be rejected. You may use this application form to apply for either a 6 or 12 month Business Notice Account or both. Business Notice Account Additional Conditions All deposits placed with Close Brothers Treasury are subject to the Customer Agreement (as may be varied) and to these Additional Conditions. If there is any conflict between the Customer Agreement and these Additional Conditions, these Additional Conditions will apply. The Customer Agreement (together with these Additional Conditions) is the standard client agreement upon which we intend to rely. 1. The minimum balance required to open a Business Notice Account is 50,000. This balance must be maintained at all times. 2. The maximum balance allowed at any time is 5 million per 6 month Business Notice Account and 10 million per 12 month Business Notice Account. 3. The initial deposit must be paid by a single cheque, BACS, CHAPS or Faster Payment drawn on your nominated bank account, subject to the nominated bank account requirements on page 2, or can be transferred from an existing Close Brothers account subject to the account s terms and conditions and the bank s absolute discretion. 4. Subsequent deposits can be made by cheque, BACS, CHAPS or Faster Payment from any UK bank account held in the applicant s name, subject to the nominated bank account requirements detailed on page Interest is calculated on a daily basis from the day that funds clear and is paid into the Business Notice Account semi-annually on 1 January and 1 July. If accrued interest in your Business Notice Account results in your balance exceeding the account s maximum balance (as stated in additional condition 2), excess funds will be returned to your nominated bank account. An account statement will be sent to your correspondence address monthly. 6. All repayments will be made to your nominated bank account by electronic transfer as set out in the Terms & Conditions (Customer Agreement). There is a minimum repayment amount of 10,000. Alternatively, funds may be transferred internally to another account held at Close Brothers Limited. Giving notice on the Business Notice Account: 7. When a notice instruction that tells us that you would like to withdraw funds from the Business Notice Account is received, the relevant sum will be transferred out of the Business Notice Account and placed on a fixed term deposit account at the prevailing deposit rate for a fixed term time period (a period which is equal to the Business Notice Account notice period). The remaining balance will continue to receive interest at the Business Notice Account rate, providing the balance remains at, or above, 50, Notice to close a specific Business Notice Account and withdrawal funds will be treated as notice that you no longer require the account and any funds held will be returned to you at the end of the notice period and the account will no longer be available to you. 9. Notice can be given by written, signed instruction sent to the Customer and Business Services department at the above address or by telephone to our Business Relationship team on Notice cannot be given by or fax. No early access is permitted. 10. Notice cannot be rescinded once given. 11. The sum that is transferred out of the Business Notice Account and placed on a fixed term deposit will, on maturity (at the end of the fixed term time period), be automatically repaid to your nominated bank account, including all interest accrued on this sum. 12. To keep the Business Notice Account open, a minimum balance of 50,000 must be maintained at all times. If the balance falls below 50,000, the entire Business Notice Account balance will be transferred onto a fixed term deposit for the relevant period equal to the applicable Business Notice Account term. At the end of the notice period, the balance will be paid in full to the nominated bank account. Future deposits will require the completion of a new Business Notice Account application form and will be subject to the prevailing terms and conditions and interest rates offered on the account at that time. These terms and rates may differ from the issue number of the Business Notice Account previously held and a new account number will be allocated. Page 1 of 9

4 Your nominated bank account requirements Please note that the account you nominate for repayments is the account to which we will make repayments of principal and/or i n t e r e s t fro m your deposit. Your nominated bank account and the account(s) from which you make subsequent payments into the Business Notice Account must be from a UK bank account held in the applicant s name. For verification purposes, please enclose a photocopy of a recent bank statement dated within the last 3 months for your nominated account with the account holder s name, account number and sort code clearly visible or, alternatively a paying in slip or cheque marked void. Please be advised that any original documents may be retained for our records. Any changes to the nominated account must be received by us in writing and must be signed in accordance with the attached Mandate, at least 10 days prior to any repayments being made by us. Your request must be accompanied by a photocopy of a recent bank statement confirming the amended repayment details. Processing of applications We make every effort to process all applications as soon as we receive them, but in the event of high demand for a particular product, it can take longer than usual to process applications. Interest is payable upon receipt of cleared funds, which in the case of electronic transfers is the value date our account is credited. Please be advised the account(s) may take up to 5 working days to open provided there are no errors or omissions on your application. If you elect to invest by cheque, kindly note it will not be banked by us until our account opening procedures are completed which as mentioned above, may take up to 5 working days. However, once the account is opened and we are in receipt of cleared funds, we will calculate interest from 2 working days after the day we bank your cheque. If your application is rejected, funds will be returned to you within 5 working days. Interest rates payable for funds on notice When a notice instruction that tells us that you would like to withdraw funds from the Business Notice Account is received, the relevant sum will be transferred out of the Business Notice Account and placed on a fixed term deposit account at the prevailing deposit rate for a fixed term time period (a period which is equal to the Business Notice Account notice period). The remaining balance will continue to receive interest at the Business Notice Account rate, providing the balance remains at, or above, 50,000. Minimum balance for the Business Notice Account is 50,000, which must be maintained at all times. Fixed rate2 Managed rate1 Term account: 6 Month Notice account Interest rate paid on notice account on balances from 50,000 and above: Indicative rate paid on funds on notice Fixed rate (minimum sum 10,000).3 Gross PA3 AER 4 Gross PA3 1.25% 1.25% 0.95 % (for illustration purposes only) 12 Month Notice account 1.60 % 1.61% 1.25% (for illustration purposes only) 1 Managed rate refers to a rate that we can change at any time. Such changes may be made without notice if the change is favourable to you. However, we must give you at least 1 month s written notice of any reduction in rate. See our Terms and Conditions. 2 The interest rate is fixed for the term of the account. No early access is permitted. 3 The gross rate of interest is the rate payable before deduction of tax at the rate agreed by law. 4 AER stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid and added each year. About Close Brothers Limited Close Brothers Treasury and Close Brothers Savings are trading styles of Close Brothers Limited ( CBL ), a subsidiary of Close Brothers Group plc. CBL is registered in England and Wales with company number and registered office at 10 Crown Place, London EC2A 4FT. Close Brothers Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority, firm reference number Proof of identity and address Under the current money laundering regulations, in common with other banks, we are required to verify your identity. To do this, we use the services of electronic data registers, including credit reference agencies. If we are not able to verify your identity by this method, we reserve the right to ask you to provide us with suitable documents to confirm your identity. If, as part of this application, you provide us with information about another person, you are also confirming that you have told them about this application, and that we will also need to verify their identity. Financial Services Compensation Scheme (FSCS) 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. Most depositors - including most individuals and small businesses - are covered by the scheme. In respect of deposits, an eligible depositor is entitled to claim up to 85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be 85,000 each (making a total of 170,000). The 85,000 limit relates to the combined amount in all the eligible depositors accounts with the bank, including their share of any joint account, and not to each separate account. For further information about the scheme (including the amounts covered and eligibility to claim) please call our Business Relationship team on , refer to the FSCS website or call or Please note only compensation related queries should be directed to the FSCS. Page 2 of 9

5 Modern Merchant Banking Business Notice Account (BNA) Issue 6 Application form Please complete this form in BLOCK CAPITALS and then return to Close Brothers Limited, 4th Floor, 10 Crown Place, London, EC2A 4FT. All fields are mandatory, unless otherwise stated. Section 1. About your business Name of Company (Account holder name) Registered number Section 2. Business contact details Existing customer number Nature of business The personal details of all officials authorised to give instructions must be provided on the attached Mandate form (pages 6 and 7). Primary business contact details FAO Notice account acceptance criteria Correspondence address (all statements will be sent to this address) Contact number Postcode Section 3. Account requirements and method of payment Please give the reason for opening the account(s): Please indicate the type of account(s) required: Currency Deposit amount (minimum 50,000) I/We confirm that the initial deposit will be sent to you by: Cheque CHAPS BACS Faster payment Sterling 6 Month Notice account (1.10% AER*) Sterling 12 Month Notice account (1.61% AER*) Existing internal transfer from account number (please state): *These rates are indicative rates and are paid on balances from 50,000 and above. The minimum balance for the Business Notice Account is 50,000, which must be maintained at all times. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid and added each year. I/We understand and confirm that the terms of the Business Notice Account state that any sum on which notice has been served will transfer to a fixed term fixed rate account earning a lower rate than that paid on the Business Notice Account. Name of Authorised Official: Signature of Authorised Official: BACS/CHAPS electronic transfers should be made to Sort code , quoting Account number , and referencing Account holder name. Please send funds so they are available when we process your application. We require both completed application and cleared funds in order to open the account. Cheques should be made payable to Close Brothers Limited Account holder name e.g. if the account was to be opened in the name of Company X Ltd, the cheque should be made payable to Close Brothers Limited a/c re: Company X Ltd. Section 4. Nominated UK bank account for repayments All requested repayments will only be sent to your nominated bank account which must be held in the 'Account holder name'. Nominated UK bank account Bank name & address Sort code Account number Page 3 of 9

6 Section 5. FinancialINFORMATION information SECTION 5. FINANCIAL Please describe how the funds for your initial deposit were acquired (e.g. sale of asset) What is your expected average monthly balance for your account(s)? 50, , , , , , ,001 1,000,000 1,000,001 5,000,000 5,000,001 10,000,000 6 Month Notice account 12 Month Notice account What is your expected number of payments into your account(s) on a monthly basis? 0-5Cheque Cheque Greater than 5 6 Month Notice account 12 Month Notice account If you exceed your expected monthly balance range, we may contact you for further information. The information below is provided on a voluntary basis but will help us to better understand your business needs. The average number of employees during the current financial year is: The total balance sheet is: less than or more less than 35 million The annual net turnover is: less than 40 million more than 35 million more than 40 million Section 6. Principal stakeholders Please complete this section with details of any stakeholders with an interest in the company of 25% or more. Current principal shareholders Title Forename(s) Current residential address Surname (including Postcode) Nationality Residency % Shareholding Title Forename(s) Current residential address Surname (including Postcode) Nationality Residency % Shareholding Title Forename(s) Current residential address Surname (including Postcode) Nationality Residency % Shareholding Title Forename(s) Current residential address Surname (including Postcode) Nationality Residency % Shareholding Page 4 of 9

7 Section 7. Documentation checklist Please forward the following documents with your completed application form (original documentation may be retained): A copy of a bank statement, paying in slip or voided cheque, dated within the last 3 months, confirming your nominated account for repayments as detailed in Section 4. A completed Mandate form, as attached. Section 8. Protecting Your Privacy - use of your information Your personal data will be collected and processed by Close Brothers Limited (CBL) referred to as we, our or us. This notice is intended to provide an overview of what personal data we collect about you and why we process it. The type of personal data we collect may include your and your representatives name, address, address and telephone number, financial and credit card information, employment history, health information, credit history, identification records, qualifications and vehicle or asset details. You can find further information about how and why we use your personal data and the rights that you have in relation to your data at If you have any questions about this notice, about how we process your personal data or about your rights over your personal data, please contact our Data Protection Officer at: dpo@closebrothers.com or DPO, Close Brothers, 10 Crown Place, London EC2A 4FT Purposes for which we use your personal data The core purposes for which we process your personal data include the following: A. To verify your identity, assess your suitability for the products and services that you have requested, and decide whether to enter into an agreement with you, such as: carrying out checks for criminal proceedings / convictions, anti-money laundering, terrorist financing and fraud prevention checks which may include sharing personal data with fraud prevention agencies. B. To manage, administer and take decisions regarding your agreement, such as: providing products and services to you, exercising our rights, and performing our obligation, in connection with the agreement, making payments and recovering monies. C. Where it is necessary for our legitimate business interests, such as: improving customer service, market research, quality assurance, training staff, marketing (where we are permitted to send you promotional information), system development and statistical analysis on your personal data even if your application is declined by us or you decide not to complete your application with us. D. To meet our legal and regulatory obligations. Exchange of information with fraud prevention agencies Your personal data may be used by us to verify your identity and to allow us to detect and prevent money laundering activity as part of the account opening process for new customers. You can find further information about how agencies such as Equifax may process your personal data at or you can contact us to obtain a paper copy of this information. We may use automated decision making systems to either fully or partially assess your information. The results of this decision may decide whether we provide you with our services or not. If you disagree with the results of an automated decision, you can request a review of your application. Where you provide us with personal information belonging to a third party, you must ensure you have obtained the necessary consent in order to disclose their information and have provided them with a copy of this notice. 3. Marketing I d like to be contacted with the latest news and offers from Close Brothers Limited by: Post Telephone SMS I d like to be contacted with the latest news and offers from other members of the Close Brothers Group Plc relating to asset finance services, financial advisory and investment services, deposit account services and/or premium finance services by: Post Telephone SMS Please note that you can withdraw this consent at any time. Page 5 of 9 Continued overleaf

8 Section 9. Acknowledgement and confirmation We apply to open the account(s) as indicated on this application form. We accept the Customer Agreement and any additional conditions contained in this application form (as previously notified to us), or any other marketing material previously sent to us and confirm that the details given by us are correct and will remain in force until such time as you receive notice from us in writing to the contrary, together with any necessary revised documentation required by you and have acknowledged the term and Section 3 by signature of an authorised official. For and on behalf of the Account holder 1st Authorised Official signature (Must be signed by an Authorised Official detailed on the Mandate) For and on behalf of the Account holder 2nd Authorised Official signature (Must be signed by an Authorised Official detailed on the Mandate) Print name Print name Title Title Date Date Financial Services Compensation Scheme ( FSCS ) Information Sheet and Exclusions List (mandatory) I confirm receipt of the enclosed FSCS Information Sheet and Exclusions List. Name of Authorised Official: Signature of Authorised Official: PIease note, we cannot accept your deposit without receipt of this signed acknowledgement. Close Brothers Treasury and Close Brothers Savings are trading styles of Close Brothers Limited ( CBL ), a subsidiary of Clo se Brothers Group plc. CBL is registered in England and Wales with company number and registered office at 10 Crown Place, London EC2A 4FT. Close Brothers Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, firm reference number CBL is a member of the Financial Services Compensation Scheme ( FSCS ) which protects up to 85,000 of an eligible depositor s funds held with CBL. The FSCS limit relates to the total funds held by a depositor with CBL, including their share of any joint account and not to each separate account. For office use only Marketing Customer administration Source CAD checked Customer number Industry codes CAD approved Account officer CBT Market officer Initial deposit from nominated account Yes No Treasury back office Class Tax to be deducted Yes No CAD input by Customer group Documents complete Yes No TBO checked BNA Issue Page 6 of 9

9 Modern Merchant Banking Corporate account mandate ( the Company ) Account name: We request that Close Brothers Limited trading as Close Brothers Treasury ( the Bank ) opens/continues to operate accounts in the Company s name as detailed above and may open such further account(s) as we may request from time to time. In connection with all accounts operated in the name of the Company from time to time, we set out the below names, specimen signatures and other personal information of the persons authorised to give instructions, and certify that the Company has approved the appointment of such persons as Authorised Officials. Authorised Officials Name Home telephone number Position held Mobile telephone number Work telephone number address Residential address Postcode Signature Name Home telephone number Position held Mobile telephone number Work telephone number address Residential address Postcode Signature Name Home telephone number Position held Mobile telephone number Work telephone number address Residential address Postcode Signature Name Home telephone number Position held Mobile telephone number Work telephone number address Residential address Postcode Signature (If you would like to add further Authorised Officials, copies of the account mandate form are available on request from our Business Relationship team, or on our website Page 7 of 9 Continued overleaf

10 Corporate account mandate Account name Ltd/Plc/LLP (delete as applicable) At the meeting of the Board of Directors of Company registration number ( the Company ) held on In the event of a dispute, we may request an extract from the board minutes of the Company approving the appointment of the above persons as Authorised Officials. The Directors considered the Close Brothers Limited Customer Agreement Terms and Conditions (The Customer Agreement ) and other documents which Close Brothers Limited has provided and agrees that: 1. The Company a. appoints the Bank as one of the Company s bankers; or b. cancel the Company s existing mandate(s) to the Bank (with the exception of any instructions given by the Company prior to receipt of this mandate) and replace it / them with the attached. 2. The Company accept the terms of the Customer Agreement and confirm such acceptance to the Bank by completing the Bank s Mandate form and the account application form(s) which Close Brothers Limited has provided. 3. The Company authorise any person named in this mandate in the section headed Authorised Officials (an Authorised Official ) individually to give instructions relating to the operation of the Company s accounts, in accordance with the security procedures set out in the Customer Agreement. The Directors noted that the Bank is entitled to act on all instructions given by an Authorised Official in accordance with the Bank s security procedures until the Company notifies the Bank that the Authorised Official is no longer authorised to act for it. Instructions to amend customer static data can only be provided to the Bank in writing and must be signed by an Authorised Official. Fax, or telephone requests will not be accepted. Instructions to make payments on an account can be provided by Authorised Officials in any way permitted by the Agreement. It is the responsibility of the Company to advise the Bank of any changes to your Authorised Officials. The Authorised Officials will remain in place until such time as you update us and confirm the removal, or addition of Authorised Officials. Any amendments to Authorised Officials must be made by providing the Bank with an updated Account Mandate form. Protecting Your Privacy - use of your information Your personal data will be collected and processed by Close Brothers Limited (CBL) referred to as we, our or us. This notice is intended to provide an overview of what personal data we collect about you and why we process it. The type of personal data we collect may include your and your representatives name, address, address and telephone number, financial and credit card information, employment history, health information, credit history, identification records, qualifications and vehicle or asset details. You can find further information about how and why we use your personal data and the rights that you have in relation to your data at If you have any questions about this notice, about how we process your personal data or about your rights over your personal data, please contact our Data Protection Officer at: dpo@closebrothers.com or DPO, Close Brothers, 10 Crown Place, London EC2A 4FT Purposes for which we use your personal data The core purposes for which we process your personal data inclide the following: A. To verify your identity, assess your suitability for the products and services that you have requested, and decide whether to enter into an agreement with you, such as: carrying out checks for criminal proceedings / convictions, anti-money laundering, terrorist financing and fraud prevention checks which may include sharing personal data with fraud prevention agencies. B. To manage, administer and take decisions regarding your agreement, such as: providing products and services to you, exercising our rights, and performing our obligation, in connection with the agreement, making payments and recovering monies. C. Where it is necessary for our legitimate business interests, such as: improving customer service, market research, quality assurance, training staff, marketing (where we are permitted to send you promotional information), system development and statistical analysis on your personal data even if your application is declined by us or you decide not to complete your application with us. D. To meet our legal and regulatory obligations. Exchange of information with fraud prevention agencies Your personal data may be used by us to verify your identity and to allow us to detect and prevent money laundering activity as part of the account opening process for new customers. You can find further information about how agencies such as Equifax may process or you can contact us to obtain a paper copy of this information. your personal data at We may use automated decision making systems to either fully or partially assess your information. The results of this decision may decide whether we provide you with our services or not. If you disagree with the results of an automated decision, you can request a review of your application. Where you provide us with personal information belonging to a third party, you must ensure you have obtained the necessary consent in order to disclose their information and have provided them with a copy of this notice. Page 8 of 9 Continued overleaf

11 Certification We certify the above to be a true extract from the Minutes and that the specimen signatures recorded on this Mandate are correct. Two signatures must be provided on behalf of the Company. For and on behalf of the Director / Company Secretary (Must be signed by an Authorised Official detailed on the Mandate) For and on behalf of the Director / Company Secretary (Must be signed by an Authorised Official detailed on the Mandate) Print name Print name Title (delete as appropriate) Date Director / Company Secretary Title (delete as appropriate) Director / Company Secretary Date Close Brothers Treasury and Close Brothers Savings are trading styles of Close Brothers Limited ( CBL ), a subsidiary of Close Brothers Group plc. CBL is registered in England and Wales with company number and registered office at 10 Crown Place, London EC2A 4FT. Close Brothers Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority, firm reference number CBL is a member of the Financial Services Compensation Scheme ( FSCS ) which protects up to 85,000 of an eligible depositor s funds held with CBL. The FSCS limit relates to the total funds held by a depositor with CBL, including their share of any joint account and not to each separate account. Page 9 of 9

12 [Blank page] Continue overleaf for the Financial Services Compensation Scheme (FSCS) Information sheet and exclusions list Continued overleaf

13 Modern Merchant Banking Financial Services Compensation Scheme Information Sheet and Exclusions List Customer copy (please retain) Please retain this FSCS Information Sheet and Exclusions List for your records. Basic information about the protection of your eligible deposits Eligible deposits in Close Brothers Limited are protected by: 1 the Financial Services Compensation Scheme ( FSCS ) Limit of protection: 85,000 per depositor per bank / building society / credit union2 The following trading names are part of your bank / building society / credit union: Close Brothers Treasury and Close Brothers Savings are trading styles of Close Brothers Limited ( CBL ), a subsidiary of Close Brothers Group 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 85,000.2 If you have a joint account with other person(s): The limit of 85,000 applies to each depositor separately.3 Reimbursement period in case of bank, building society or credit union s failure: 20 working days 4 Currency of reimbursement: Pound sterling (GBP, ) or, for branches of UK banks operating in other EEA Member States, the currency of that State. To contact Close Brothers Limited for enquiries relating to your account: Close Brothers Limited 4th Floor 10 Crown Place London EC2A 4FT Tel: Financial Services Compensation Scheme 10th Floor Beaufort House 15 St Botolph Street London EC3A 7QU To contact the FSCS for further information on compensation: Tel: or ICT@fscs.org.uk More information: Additional information 1 Scheme responsible for the protection of your 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. 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. This method will also be applied if a bank, building society or credit union operates under different trading names. Close Brothers Limited also trades under Close Brothers Treasury and Close Brothers Savings. This means that all eligible deposits with one or more of these trading names are in total covered up to 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) (b) (c) certain transactions relating to the depositor s current or prospective only or main residence or dwelling; a death, or the depositor s marriage or civil partnership, divorce, retirement, dismissal, redundancy or invalidity; the payment to the depositor of insurance benefits or compensation for criminal injuries or wrongful conviction. More information can be obtained under Page 1 of 2 Continue overleaf

14 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, Reimbursement The responsible Deposit Guarantee Scheme is the Financial Services Compensation Scheme, 10th Floor Beaufort House, 15 St Botolph Street, London, EC3A 7QU, Tel: or , ICT@fscs.org.uk. 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 or operating costs (in the case of a depositor which is not an individual or a large company) within 5 working days of a request. 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 Other Other important important information 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 list A deposit is excluded from protection if: (1) The holder and any beneficial owner of the deposit have never been identified in accordance with money laundering requirements. For further information, contact your bank, bank building society or credit union. (2) The deposit arises out of transactions in connection with which there has been a criminal conviction for money laundering. (3) 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 For further information about exclusions, refer to the FSCS website at 1 Deposits by personal pension schemes, stakeholder pension schemes and occupational pension schemes of micro, small and medium sized enterprises are not excluded. Page 2 of 2