Payment Service and Product Offer.

Transcription

1 Payment Service and Product Offer. 1 This document gives you an overview of the banking products and services offered by Keytrade Bank. For costs of these banking products and services, please refer to the updatedversion of the tariffs available at 1. CURRENT ACCOUNT What is a current account? A current account is a banking product with the special feature of being "current", which means you can use the available balance immediately without delay and in accordance with your requirements. It records all debit transactions (your cash withdrawals, payments, transfers and so on) and credit transactions (cash deposits, etc.). Any debit transaction on this account is executed as long as there are sufficient funds available. The current account is part of the basic banking service. Limits The usage limits for the current account are those applicable to transfers (see point 2) and bank cards (see point 8). At all times you must ensure to maintain a credit balance on your current account, except if there is a specific express agreement between the parties. In particular, see the document entitled "Form to ask an overdraft facility repayable within 3 months", which you can find in the Document Center at the public website ( Interest: credit/debit You can find the interest rates applicable to the current account in "Interest rates" brochure, available from the The current account with Keytrade Bank is entirely free. In addition, you are given five eurocents for each national transaction which is carried out on the Keytrade Bank current account,(see the applicable conditions on banking). 2. BANK TRANSFERS What is a bank transfer? A bank transfer is a transfer of money from a current account (account of the instructing party to be debited) to another bank account (payee account to be credited). The transfer can be made between two current accounts within the same bank or two different banks, whether Belgian or foreign. What is a SEPA transfer2? The SEPA credit transfer is a means of transferring funds in euros both in Belgium and all countries which are part of the SEPA zone, ( It takes place under the same conditions as national transfers. The conditions of a SEPA transfer are as follows: payment in euro total: maximum EUR 50,000 inclusion of the payee l IBAN3 and the payee bank BIC4 The effect of mentioning "Shared costs" (between the instructing party and payee) on the transfer is that the fees do not exceed those of a national transfer. Note: transfers made in foreign currency inside or outside the SEPA zone and the transfers in EUR outside the SEPA zone are considered as international transfers and are subject to applied fees. To instruct such transfers, please complete the ad hoc screen available at the ad hoc page on the Transaction Site of Keytrade Bank. Execution periods Payments in euro within the EEA which do not include a foreign-exchange transaction will be executed in one business day (D+1) (two business days for paper transfers). There are no fees for sending an electronic SEPA transfer in Belgium. For paper and international transfers (to a SEPA zone or not SEPA zone), see the "Tariffs" brochure (available at Keytrade Bank nv - sa Vorstlaan 100 Bld du Souverain B-1170 Brussels, Belgium. T F info@keytradebank.be- keytradebank.be BTW-TVA BE RPR - RPM Brussels - FSMA /E22/08/2016 1) - This document is prepared based on the General Terms and Conditions in effect from November 19, ) - SEPA stands for "Single Euro Payments Area" ( 3) - IBAN (International Bank Account Number) is an international bank account identification standard. 4) - The BIC (Bank Identifier Code) is the international code allowing unique identification of each bank and/or head office. The BIC for Keytrade Bank is KEYTBEBB..

2 Payment Service and Product Offer - page 2 3. STANDING ORDERS What is standing order? A standing order is an automatic transfer ensuring the payment of fixed amounts at a date you have determined as long as there are sufficient funds in the current account. It is ideal for recurrent payments like rent payment. 4. DIRECT DEBIT What is direct debit? A direct debit is an automatic transfer which debits sums periodically or one time from your current account for a bill which does not necessarily have a fixed amount, such as electricity, water, gas or telephone. Thanks to the direct debit your bills are paid on time. For this purpose, you must provide your creditor with a direct debit authoriza- tion and your bank details. In the standard direct debit version and unlike the SEPA direct debit below, your creditor submits the authorization to Keytrade Bank so that the bank can record it. What is a SEPA direct debit? The SEPA direct debit (SDD, or European direct debit) is one of three products, alongside the European transfer and card payment, developed as part of the introduction of the SEPA. It allows automatic collection of both your national and international accounts receivable in the SEPA zone ( This payment system applies to transactions in euro carried out between accounts located in SEPA countries. It allows a creditor, at its own initiatives, to collect amounts for bills owed by its customers (debtors), provided the debtor has delivered a signed mandate to the creditor in the correct and due form. The attempt to execute the SEPA Direct Debit payment is done at 2PM on the business day that precedes the due date. If there are insufficient funds on your current account at that very moment the payment will not be executed, but rejected. If this occurs, we would advise you to contact the supplier/credi- tor immediately in order to determine how and when the payment can be done. You have a right of refusal and blocking. A Direct Debit payment that will be executed on your account can be seen on the Transaction Site of Keytrade Bank a couple of business days5 before the payment date. Until the day before at 2PM at the latest, you can refuse this single coming debit by clicking on the button outlined for this purpose in respect of the direct debit in question. You can also block a direct debit on different levels: on the level of the mandate: you don t accept any SEPA Direct Debit with regard to a specific mandate; on the level of the amount: you don t accept any SEPA Direct Debit above a certain limit amount with regard to a specific mandate; on the level of the account: you don t accept any SEPA Direct Debit with regard to a specific current account; on the level of the creditor: you don t accept any SEPA Direct Debit with regard to all mandates you gave to this creditor. Attention: The Client can only revoke the mandate through a Notification to the creditor beneficiary. Right of refund A refund can be requested up to 8 weeks after the execution of the SEPA Direct Debit payment. This can be done on Keytrade Banks Transaction Site. If a SEPA Direct Debit payment was executed based on an unexisting or an unvalid mandate you can ask for a refund up to 13 months after the execution of the payment. In this case you need to send a registered letter to Keytrade Bank Department Backoffice Banking requesting the refund of the SEPA Direct Debit payment. 5. CASH WITHDRAWALS You can withdraw cash from your account via either your payment card (see point 8) or via withdrawal exclusively from our branch, at Boulevard du Souverain/Vorstlaan, 100, B-1170 Brussels. It should be noted that in the event of in-branch withdrawal, the Bank may require a three business days' notice and that such notice is required for amounts above EUR or the equivalent in other currencies. Withdrawals are not possible at the branch for amounts of less than EUR 200. A withdrawal in foreign currency at the branch is only possible in CHF, USD and BP. 6. ACCOUNT STATMENTS What is a statment? The account statement is a document that summarizes the debit and credit transactions made on the account since the previous statement. The statement ends with the new account balance. You can thus keep a record of all your cash income and outgoings. Frequency You can select how often electronic statements are created: monthly, weekly or daily. Bien default, they will be created monthly. Similarly, you can choose to receive your account statement by post each month or after each transaction. Electronic statements are free. When sending statements by post, a charge is applied, which can be found in the "Tariffs" brochure, available on 5) - However, at the latest the payment date two days for the recurrent SDD or payment date five days for the one-time SDDs.

3 Payment Service and Product Offer - page 3 7. EXCHANGE RATES The exchange rates applicable to transactions on the current account in a non-euro EEA currency to an EEA-Country can be found in the document "Exchange rates for payment transactions" (available from bank.be). 8. PAYMENT CARDS I. DEBIT CARDS (BANCONTACT, MAESTRO) What is a debit card? A debit card is a payment card equipped with a PIN by means of which the Cardholder can carry out all standard banking transactions on the current account for which he or she is holder or agent. The Cardholder can also perform the following transactions with the card: all transactions offered by Bancontact/ ATM terminals such as withdrawals, account consultation; payment for purchases in Belgian shops equipped with a Bancontact Cash terminal or other compatible network; all transactions allowed by ATMs located abroad and managed by MasterCard Europe; and payment for purchases in shops equipped with a Maestro payment terminal. For more information with regard to the Keytrade Bank debit card, see the Special Conditions for debit cards available on There are the following limits on withdrawals from Bancontact ATMs: maximum amount per card per day (midnight to midnight): 510; maximum amount per card over a 7-day period: Payments made using Bancontact/ and Maestro payment terminals are limited to per card over a 7-day period. Total payments and cash withdrawals made using the Bancontact and Maestro services over a 7-day period cannot exceed per account. Please note that when you are making Maestro transactions with your debit card (withdrawal, payment or payment via internet), the double of the amount is blocked until the next business day. Example: You have 1000 EUR on your current account. On Saturday, you make a purchase in a store for 300 EUR and you withdraw 100 EUR at the ATM. 800 EUR (400 EUR x 2) will be blocked until Monday. In other words, you can only use your debit card on Monday for an amount of 200 EUR. The blocking of a double amount only applies to Maestro transactions and not to Bancontact transactions. A debit card may not be used outside of (geographic) Europe. The list of countries where the debit card may be used is available on Note: the restrictions are different with regard to a card attributed to a minor: General weekly maximum (7 successive days) : 250; ATM : maximum amount per withdrawal : 125, maximum amount per week : 250; Payments in favor of a retailer : maximum 250 per card en per period of 7days. Security of online payments: 3D Secure 3D Secure protects your Keytrade Bank card every time you shop online against theft or fraud. This extra security level ensures that your online payments are more secure by confirming your identity with your e-commerce code and your Keytrade ID code or via your Hardkey/Softkey. You can create an e-commerce code on Keytrade Bank s Transaction Site The debit card is free. In case of blocking of the debit card by the Bank, costs can be charged (see "Tariffs" brochure, available from Debit card usage costs Vous trouverez les frais d utilisation applicables aux cartes bancaires, aussi bien dans la zone euro qu en dehors de la zone euro, dans la brochure «Tarifs», disponible sur II. CREDIT CARDS What is a credit card? A credit card is a Payment instrument that allows the Cardholder to withdraw cash and make payment transactions with a deferred debit. The expenses done with the credit card are debited once a month. To use the card, the Cardholder must enter his or her card in a terminal, reader or any other device made available by the retailer or banking institution and enter his or her PIN or sign a slip. The Cardholder can also purchases goods and services sold via remote communication channels with the card, such as by telephone, post, fax or online. In this case, simply by providing the retailer with the number and expiry date of his or her card, the Cardholder agrees that this is a payment order given by the Cardholder to the Bank in favor of the retailer. For certain payment orders, especially online, the Cardholder may also be required to disclose his or her card verification code (hereinafter "CVC"). For VISA, this is a code consisting of three figures appearing on the back of the card on the signature band after the last four numbers of the card. For American Express, this is a code consisting of four figures appearing on the front of the card.

4 Payment Service and Product Offer - page 4 1.VISA (VISA Classic & VISA Gold) General The code of the VISA card can be modified at some Bancontact ATMs. Most of the ATMs don t offer this functionality. For more information with regard to the Keytrade Bank VISA card, see the VISA card Special Conditions available on Spending limit VISA Classic : 1.250/month Visa Gold : 5.000/month The total amount of withdrawals of cash may not exceed 620 per period of 4 days. Security of online payments: 3D Secure 3D Secure protects your Keytrade Bank card every time you shop online against theft or fraud. This extra security level ensures that your online payments are more secure by confirming your identity with your e-commerce code and your Keytrade ID code or via your Hardkey/Softkey. You can create an e-commerce code on Keytrade Bank s Transaction Site. You can find the costs applicable to Visa cards and the services related to these cards in the "Tariffs" brochure available at Credit card usage costs You can find the usage costs applicable to bank cards both in and outside the Eurozone in the "Tariffs" brochure available at 2. American Express (Amex) Blue, Classic & Gold6 There is no predefined limit on purchases You can find the costs applicable to the Amex cards and the services related to these cards in the "Tariffs" brochure available at Credit card usage costs You can find the usage costs applicable to bank cards both in and outside the Eurozone in the "Tariffs" brochure available at 9. BANCONTACT MOBILE APP Thanks to this app, you can easily make mobile payments using your current account, by scanning a QR code, or receive payments via your smartphone. You will find all useful information on HOW DO I ACCESS KEYTRADE BANK PAYMENT SERVICES? The Client may access one or more of the Bank s services via the Transaction Site of the Bank and/or via the various items of Equipment by, if applicable, downloading a specific application and accepting specific conditions. You can access them either via your computer or your mobile phone via your computer Your computer should have a recent browser such as Microsoft Internet Explorer (version 7.0 or higher) or Firefox (version 5.0 or higher). Keytrade Bank only supports recent browsers enabling JavaScript and operation systems actively managed by software suppliers. We cannot guarantee a correct functioning, nor an optimal security when you use outdated or not maintained software versions. Use recent anti-virus software, with regular updates. Ensure that your virus software makes updates daily and automatically. Use a firewall to prevent undesirable persons entering your computer via the internet. Use updated computer software (Windows Update for PC / Software Update for Mac) and check each week to see if there have been updates to strengthen the security level via your tablet The ipad application of Keytrade Bank can be downloaded for free from the Apple app store and can be used on the ipad tablets with an OS version of minimum ios 7.0. The Bancontact Mobile app can be downloaded for free from the Google Play store from Google and from the app store from Apple and can be used on the Android and ipad tablets (minimum version for Android: 4.0 and for ipad: ios 8.0). 6)- This payment service is provided exclusively by American Express. We refer you to

5 Payment Service and Product Offer - page via your mobile To have access to the mobile site: Your mobile must be of the smartphone type. The Android application of Keytrade Bank can be downloaded for free from the Google Play store from Google and can be used on the Android phones with an OS version of minimum 4.0. The Bancontact Mobile app can be downloaded for free from the Google Play store from Google and from the app store from Apple and can be used on your smartphone (minimum version for Android: 4.0 and for ipad: ios 8.0). 11. SECURITY DEVICES To access the payment services of Keytrade Bank via your computer, tablet or mobile phone, you need the following: Your logon (username) This login name is unique and permanent. You use it each time you log in. In the same way, if you are the holder or agent of various accounts joint accounts, investment club accounts and so on you will have access to all your accounts with this login. Your access password and confirmation code Your access password and logon (username) are mandatory for connecting to the Transaction Site. The confirmation code is needed to confirm your bank transfers and stock market transactions. Your Keytrade ID or SMS The Keytrade ID is an electronic device that automatically generates unique codes in the form of One Time Passwords with a limited validity time. You can obtain a unique code (One Time Password) per SMS. This code can be used only once. The generation of an SMS-code is fee-paying and is charged via your mobile phone invoice. An alternative way to access the Transaction Site is possible via your electronic identity card (eid) requiring a card reader. ATTENTION New access methods introduced in 2016/2017 Keytrade Bank is introducing alternative authentication tools which will be gradually distributed among our clients. In case you switched to this new system you will no longer need the Keytrade ID, Access password or Confirmation code as mentioned above. You will however dispose of a HardKey and/or a SoftKey: A HardKey A HardKey is a physical electronic device which can be used to generate unique codes in the form of One Time Passwords with a limited validity time. Each of these static codes can be used only once to log in to our transaction site. On top of this, the HardKey also has input functionalities (keyboard) so you can use it to generate secured codes. These codes are unique and can be used to confirm payments, trades and e-commerce transactions. The HardKey is protected by a 4-digit PIN code only to be known by the user. A SoftKey A SoftKey is a software based security solution which can be integrated in the Keytrade app. It can be used to log in to our secured web environment by scanning secured Crontosign QR codes which are unique and personal to each client. Payments, trades and e-commerce transactions can be confirmed following the same procedure. The SoftKey is protected by a 6-digit PIN code only to be known by the user. This PIN code can also be used to login and confirm payments and trades on the Keytrade app itself. The SoftKey can be installed on multiple devices (Smartphones and tablets).