CAF 12 MONTH FIXED RATE SAVER Business, Charity and Trust Savings Terms and Conditions Effective from 25 May 2018

Transcription

1 CAF 12 MONTH FIXED RATE SAVER Busiess, Charity ad Trust Savigs Terms ad Coditios Effective from 25 May 2018 workig i associatio with

2 The followig Terms ad Coditios cover busiess, charity ad trust savigs accouts with Shawbrook Bak Limited. These Terms ad Coditios, Your Applicatio form ad the Key Product Features comprise the agreemet betwee Us. This documet should be read i cojuctio with the Key Product Features. Where there is a differece betwee the Key Product Features ad the iformatio provided here, the Key Product Features will apply. 1 Geeral 1.1 The Terms ad Coditios apply to busiess, charity ad trust savigs accouts operated by Shawbrook Bak Limited. 1.2 It is importat that You read ad uderstad these Terms ad Coditios. Should You have ay queries please cotact Us o The Terms ad Coditios may be varied from time to time i accordace with sectio The Terms ad Coditios will be provided to You before You ope a accout ad copies of these, the Key Product Features ad the Applicatio Form ca be obtaied o request at ay time by telephoig Us o or visitig Our Website. These documets represet a bidig cotract betwee You ad Us. 1.5 Below are defiitios of some of the phrases used i this documet. Please cotact Us if You require further clarificatio of these defiitios or ay other wordig withi this documet: Madate Our busiess or charity ad trust Savigs accout madate submitted to Us as part of Your applicatio. We, Us, Our Shawbrook Bak Limited. You, Your The amed accout holder(s). Website Our website located at Workig Day Moday to Friday 9am 5.30pm, excludig Bak Holidays. Bakig Hours 9.30am 3pm Moday to Friday, excludig Bak Holidays. 1.6 These Terms ad Coditios, Your Applicatio, ad the Key Product Features, comprise the Agreemet betwee You ad Us (the Agreemet ). This documet should be read i cojuctio with the Key Product Features. 1.7 All correspodece betwee You ad Us will be commuicated i Eglish. 1.8 All cotracts etered ito betwee You ad Us will be based upo Eglish Law. Both We ad You irrevocably submit to the jurisdictio of the Eglish courts. 2 About us 2.1 Shawbrook Bak Limited is authorised by the Prudetial Regulatio Authority ad regulated by the Fiacial Coduct Authority ad the Prudetial Regulatio Authority. We are etered i the Fiacial Services Register uder umber Our Registered Office is Lutea House, Warley Hill Busiess Park, The Drive, Great Warley, Bretwood, Essex CM13 3BE. Please use this address for all correspodece. 2.3 We are a member of the Fiacial Services Compesatio Scheme. 2.4 We are committed to Treatig Customers Fairly. 2.5 Our savigs team is available durig each Workig Day. 2.6 We reserve the right to withdraw products at ay time. 3 Accout opeig 3.1 These Terms ad Coditios apply to savigs accouts for busiesses, charities ad trusts ad will remai effective util the accout is closed or cacelled. Should You require a savigs accout for or o behalf of a idividual or idividuals, differet Terms apply. Please cotact Us for more iformatio. 3.2 You ca apply to ope a accout by post. 3.3 Whe You apply to ope a accout You will eed to provide Us with a fully completed Applicatio form. 3.4 If You have more tha oe savigs accout with Us, You must make sure that the address We have for You is the same i respect of each accout. 3.5 Please ote that We ca refuse to ope a accout without givig ay reaso. There will ot be ay cotract betwee You ad Us util We have opeed a accout. 4 Idetificatio requiremets 4.1 Whe You apply to ope a accout, We are required by law to verify Your idetity ad address. This helps to protect Our customers ad members of the public agaist fraud ad misuse of the UK bakig systems. We will ot ope a accout util We have verified the idetity ad address of the Sole Trader/Limited Compay/Partership/Limited Liability Partership (LLP)/Charity/Trust, each Director/Parter/Trustee/ Beeficial ower/sigatory to the accout ad ay shareholders/members with a holdig of 25% or more. 4.2 We will carry out a electroic search to verify the idetity of each Director/Parter/Trustee/Beeficial ower/ Sigatory to the accout, ad ay shareholders/members with a holdig of 25% or more. If We are uable to verify idetity through a electroic search, or require further documetatio accordig to idividual circumstaces, We will cotact You ad ask You to provide such documets. 3

3 4.3 A separate leaflet (Verifyig Your Idetity) is available o request, which explais Our idetificatio requiremets i more detail. 4.4 We also have a obligatio to maitai up-to-date idetificatio for all Our customers. This meas that We may require additioal iformatio from time to time, eve for customers who have had accouts with Us for some time. 5 Cotactig each other 5.1 We may cotact You by post, telephoe, fax or usig the latest address, telephoe umber or address You have give Us. It is Your resposibility to esure that We have Your curret cotact details. By law We are required to cotiue sedig iformatio to You at the last kow address We have for You. If You do ot iform Us promptly of a chage to Your details, the security of Your iformatio could be put at risk. 5.2 We will provide You with a uique accout umber. Please quote this i all correspodece with Us. 5.3 We will ormally cotact oly the accout holder or sigatory amed first i Our records subject to ay legal requiremets or uless You request otherwise. The first amed accout holder or sigatory is resposible for passig iformatio We sed to the other accout holders or sigatories. 5.4 You ca cotact Us at the appropriate address ad telephoe umber We give You, or by . For further iformatio You may visit Our Website. 5.5 We may record or moitor telephoe calls ad moitor electroic commuicatios (icludig s) betwee Us so that We ca check istructios ad make sure that We are meetig Our service stadards ad complyig with all applicable laws ad regulatios. 5.6 At the frequecy stipulated i the Key Product Features but at least aually We will sed You a statemet showig the trasactios passig through Your accout. You should check each statemet carefully, ad let Us kow immediately if aythig appears icorrect. 5.7 More details regardig the trasactios o Your accout ca be provided at Your request, please cotact Us. 6 Miimum ad maximum balaces 6.1 The miimum ad maximum amout that ca be held i Your savigs accouts are set out i the Key Product Features specific to that accout. 6.2 We reserve the right to close a accout if the amout i it is below the miimum for that accout. We will give You at least 14 days otice before doig this. Durig this period You ca pay i more moey to brig the balace up to the miimum, however this is subject to Our geeral right to withdraw products at ay time (coditio 2.6) which will also apply i ay such otice period. Where a product is withdraw durig such otice period You will ot have the ability to pay i more moey to brig the balace up to the miimum ad the accout will be closed. 6.3 Durig ay period whe the accout balace is below the miimum amout We may pay a reduced rate of iterest. 7 Deposits 7.1 Iitial cheque deposits ito Your accout must be from a bak accout held i the ame of the busiess, charity or trust. 7.2 All deposits to Your accout must be made payable o the followig basis: Sole trader to You or Your tradig ame. Partership to ay or all parters or Your tradig ame. Compay to the compay or its tradig ame. Charity to the charity. Trust to the trust. 7.3 Subject to the accout coditios i the Key Product Features, You ca make additioal deposits to Your accout at ay time util the product to which that accout relates is withdraw (which You ca check o the Withdraw Products sectio of Our Website). We reserve the right to retur ay fuds deposited with Us after this date. 7.4 Subject to the accout coditios i the Key Product Features, deposits to Your accout ca be made by cheque or electroic trasfer. 7.5 Deposits paid ito Your accout via cheque will be processed i lie with the clearig cycle outlied below (subject to Your accout beig ope ad able to accept ew deposits): a b c d Whe a cheque is received o a Workig Day ad withi Bakig Hours, it will be credited to Your accout o that Workig Day Whe a cheque is received o a o-workig Day or after Bakig Hours, it will be credited to Your accout o the ext Workig Day Your cheque deposit will ormally clear withi six Workig Days although it will start to ear iterest prior to it clearig (as described i coditio 9.3) Oly whe a cheque has cleared ca a withdrawal be made agaist it (as described i coditio 8.1) 7.6 All amouts credited electroically ito Your accout before the ed of Bakig Hours are cleared o the day of receipt, ad iterest calculated from that day. 7.7 Deposits i foreig currecies, cheques ot deomiated i Sterlig, or cheques from baks ot based i the UK are ot accepted ad will be retured to You. 7.8 Post-dated cheques ad cheques issued more tha six moths ago will ot be accepted ad will be retured to You. 4

4 7.9 If a Sterlig cheque or other item has bee paid ito Your accout but is later retured upaid, We will withdraw the amout origially credited to Your accout. We will tell You that this has bee doe We may retur istructios ad credits for a accout if: We believe that by complyig with the istructio We might break the law, regulatio, code or other duty which applies to Us; or We reasoably believe that complyig with the istructio or receivig the credit may damage Our reputatio. 8 Withdrawals 8.1 Withdrawals are subject to sufficiet cleared fuds beig available i Your accout. 8.2 Withdrawals will oly be made payable to the busiess, charity or trust. We will ot issue a paymet to a third party from Your Savigs accout. 8.3 Withdrawal or closure requests o accouts where there is a otice period will be actioed o the expiry of the otice period. 8.4 Withdrawals ca be made by electroic trasfer, cheque, or trasfer to aother accout with Us, subject to the withdrawal coditios detailed i the Key Product Features I order to request a withdrawal by electroic trasfer You ca cotact Us by phoe, or i writig. If i writig, the request must be siged i accordace with the Madate. I order to request a withdrawal by electroic trasfer, We eed the followig iformatio: a The accout umber of the accout o which the withdrawal is beig made b The beeficiary ame c Sort-code of the beeficiary d Accout umber or buildig society roll umber of the beeficiary e Amout to be withdraw f Referece, if applicable To eable paymet requests to be processed the same day, the cut-off times for receipt of the paymet details is 2.30pm. Provided the above cut-off time is met ad all required details provided, paymets will be received by the beeficiary bak o the ext Workig Day. You should ote that oce a paymet has bee processed We caot prevet the paymet from beig set I order to request a withdrawal by cheque, You ca cotact Us by phoe, or i writig. If i writig, the request must be siged i accordace with the Madate. Cheque withdrawals will be set by post to the address We hold i Our records I order to request a withdrawal by trasfer to aother accout You hold with Us, You ca cotact Us by phoe, or i writig. If i writig, the request must be siged i accordace with the Madate. I order to request a withdrawal by trasfer to aother accout You hold with Us, We eed the followig iformatio: a The accout umber of the accout from which the trasfer is beig made b The accout umber of the accout to which the trasfer is goig c Amout to be trasferred d Date You wish the trasfer to be made Please ote that the executio of a paymet istructio may be delayed, or the fuds lost, if the above iformatio is ot provided or is icorrectly provided to Us. 8.5 If We carry out Your istructios for a withdrawal from Your accout icorrectly, You will be etitled to a full ad immediate refud of the amout withdraw. 8.6 To eable Us to pay items from Your accout by writte request, We will ask You to complete a Madate showig a specime of the sigatures ad tellig Us who is authorised to give istructios o Your accout. 8.7 Writte requests for istructios must be set to Our registered address ad must be siged i accordace with the Madate. 8.8 Should ay of the authorised sigatories become medically icapacitated or die We will uless istructed otherwise accept the authority of the other party(ies) at Our reasoable discretio. 8.9 Uless You idicate differetly o the applicatio form, You should be aware that ay oe accout sigatory ca withdraw the etire balace of the accout All paymets from Your accout will be i pouds Sterlig. 9 Iterest 9.1 Iterest accrues o a daily basis o cleared credit fuds ad is paid i accordace with the Key Product Features. 9.2 Iterest ca be credited to Your accout or paid to aother accout held i the ame of the busiess, charity or trust i accordace with Your writte istructios. The Key Product Features will specify how iterest ca be paid o a accout. 9.3 If You deposit fuds by cheque, We start payig iterest o the deposit from the secod Workig Day after it is credited to Your accout. 9.4 If You deposit fuds before the ed of Bakig Hours by electroic bak trasfer We start payig iterest o the deposit from the day We receive it. 5

5 9.5 Iterest is eared up to ad icludig the day prior to withdrawal or closure. 9.6 Iterest rates are variable uless otherwise idicated i the Key Product Features. Where iterest rates are variable they may be altered i accordace with sectio Details of Our curret iterest rates ca be obtaied by telephoe o or by visitig Our Website. 9.8 If Your accout has a itroductory or bous rate for a specific period, We will write to You before the expiry date to remid You ad advise You of Your optios. 9.9 Iterest will be paid gross ad You will be resposible for payig ay tax due to HMRC. 10 Our liability to You ad Your liability to Us 10.1 We will be liable to You for ay loss, ijury or damage resultig from Our failure, delay or error i carryig out Your istructios (however caused) but Our liability will be the lower of: The amout of such loss, ijury or damage; ad The amout of ay iterest You do ot receive or ay iterest You have to pay as a result of such failure, delay or error We will ot be liable to You if: The istructios You give Us are ot correct; or We caot carry out Our resposibilities uder these coditios as a result of aythig that We caot reasoably cotrol. This icludes, amogst other thigs, ay machie or electroic device failig to work, idustrial actio or disputes ad strikes We will ot be liable to You i ay circumstaces for loss of busiess, loss of goodwill, loss of opportuity or loss of profit If You break ay of the coditios of this agreemet, We shall be etitled to claim from You ay losses or costs that We icur as a result of Your breach. These iclude, but are ot limited to, the costs of tracig You, otifyig You of the breach, commuicatig with You about the breach ad eforcig paymet of ay amout due to Us. Our etitlemet to claim such losses from You is i additio to Our etitlemet to recover from You ay moies that You already owe Us If You act frauduletly or with itet or gross egligece You will be resposible for all losses o Your accout. If We eed to ivestigate a trasactio o Your accout, You must cooperate with Us, Our professioal advisors ad the police if they are ivolved. 11 Security 11.1 You should make all reasoable attempts to protect Your accouts. If You chage ay of Your busiess, charity or trust details such as Your ame, address or telephoe umber, please let Us kow immediately i writig. We may require evidece of a chage of address or ame You must immediately advise Us if You become aware of ay breach of security relatig to Your accout. Please cotact Us by telephoe o at the earliest opportuity ad o later tha the ext Workig Day If You become aware of a trasactio o Your accout which You have ot authorised, please cotact Us by telephoe o i the first istace at the earliest opportuity. 12 Closure or cacellatio of the accout 12.1 If You chage Your mid ad wish to cacel this agreemet, You may do so at ay time withi the first fourtee days from the opeig of Your accout. Please write to Us to cofirm Your request. Please ote however that this cacellatio right does ot apply to fixed term accouts You have the right to close Your accout at ay time ad You may istruct Us to close the accout at ay time subject to ay otice specified i the Key Product Features. We will require writte cofirmatio before actig o such istructios. Please ote however that You caot close a fixed term accout before the ed of the fixed rate period We may choose ot to close Your accout util You have repaid ay moey You owe Us Whe Your accout is closed it is Your resposibility to cacel ay direct paymets to Your accout. Where someoe attempts to make a paymet ito a accout which has bee closed We will take reasoable steps to retur the paymet to the seder If We wat You to close the accout We will write to You specifyig the period of time withi which You are required to comply with this request (which shall be o shorter tha the otice period applicable to Your accout, or i the case of a fixed rate accout o earlier tha the ed of the fixed term). If, at the ed of that period the accout has ot closed, We will be etitled to refuse to accept ay more paymets ito the accout ad may retur ay existig balace to You We will retur ay fuds to You withi thirty caledar days of accout closure. Ay sums payable uder this sectio o closure of the accout are owed as simple cotract debts ad may be set off agaist each other We ca repay to You part or all of Your moies ad/or close Your accout immediately if We reasoably believe that: You are ot eligible for a accout; You have give Us ay false iformatio at ay time; You or someoe else is usig the accout illegally or for crimial activity; By maitaiig Your accout We might break a law, regulatio, code or other duty which applies to Us; By maitaiig Your accout We may damage Our reputatio; or 6

6 You have bee i serious or persistet breach of this agreemet or ay additioal coditios which apply to a accout If a sole accout holder dies, the deposit will trasfer to the deceased s executors. The deposit will cotiue to ru for its cotractual period ad fuds will be released at the ed of the fixed term or the expiry of ay applicable otice period, as the case may be. For these purposes We will treat receipt of the Grat of Probate as costitutig otice If the accout is held by a partership ad oe of the parties who is amed o the accout dies, the deceased s share of the deposit will trasfer i accordace with the partership agreemet. All other terms ad coditios of the accout remai uchaged the deposit will cotiue to ru for its cotractual period ad fuds will be released at the expiry of ay applicable otice period, as the case may be. 13 Trasfer of accout 13.1 You may trasfer the balace of Your accout, i part or i full to aother savigs accout i Our rage, subject to fulfillig the coditios of Your existig accout with regard to ay otice or pealty due ad meetig the coditios of the ew accout Where a trasfer occurs betwee two savigs accouts withi Our product rage, iterest is ot applied to a accout o trasfer. Iterest will be applied as specified i the Key Product Features of the ew accout At Our discretio, coditio 13.1 may be waived where You are trasferrig to a accout with a loger otice period tha Your existig accout. 14 Chagig the terms of this Agreemet 14.1 We may chage the terms of the Agreemet i accordace with this sectio. We may also agree separate terms with You i writig We may upgrade Your accout or ehace the services We provide to You where You will icur o extra cost ad We cosider this to Your advatage If We apply a chage that is i Your favour, We will apply the chage immediately ad otify You via Your statemet of accout or i writig If We wish to make a proposed chage that is ot i Your favour, We will provide You with at least oe moths otice i writig of such proposed chage, durig which time You have the right to agree or disagree to such proposed chage. If You disagree with such proposed chage ad otify Us of Your disagreemet i writig, the proposed chage will ot come ito effect ad the cotract shall remai o its existig terms. If You do ot write to Us to disagree to the proposed chage withi the oe moth disagreemet period, We are etitled to assume that You have accepted the proposed chage to the terms of this cotract o the date We have otified You that such proposed chage will come ito force Notwithstadig coditio 14.4, We may make ay chage to the terms of the Agreemet for ay of the followig reasos without askig for Your approval: to respod to or aticipate ay chages i relevat law, regulatio or code of practice; to eable Us to itroduce ew or improved systems ad procedures, services or facilities; to respod to a relevat decisio by a Court, the Fiacial Ombudsma, Regulator or similar body; to take accout of geeral bakig practice; to make the terms clearer or more favourable to You; to eable Us to respod to ay chages or aticipated chages i Our relevat costs; to correct ay error i the draftig of this Agreemet; to improve the services We provide. 15 Chages to iterest rates 15.1 If a chage i iterest rate is to Your advatage, We will apply the chage immediately ad otify You via Your statemet of accout or i writig If a chage i iterest rate is ot to Your advatage We will always advise You i writig i advace of the chage takig effect o the followig basis: For chages to iterest rates the chage will be subject to a otice period of 14 days plus the otice period required for withdrawals o Your accout type (subject to a miimum period of 30 days) We may make ay chage to the iterest rates that apply to Your accout for ay of the followig reasos: for ay of the reasos give i coditio 14.5 above; a chage i the Bak of Eglad base rate, or ay rate which replaces it; to reflect chages i market coditios or the iterest rates paid or charged by other baks ad fiacial istitutios, or the cost to Us of moey We led; to respod to Our iteral policies o competitiveess, market share ad/or the profitability of Our busiess as a whole, providig We act i a reasoable maer Where Your accout features a iterest rate which tracks a publicly available referece rate (eg Bak Base Rate) ay chage i iterest rate, which mirrors a chage i that referece rate, will be applied o the day the referece rate chages or as detailed i the Key Product Features ad will ot be otified i writig. 16 Complaits procedure 16.1 Our aim is to provide the highest possible stadard of service to all Our customers. I the evet of ay complait please cotact the Savigs Team by telephoe o , or write to the Savigs Team, Shawbrook Bak Limited, Lutea House, Warley Hill Busiess Park, The Drive, Great Warley, Bretwood, Essex, CM13 3BE ad mark Your letter for the attetio of the Complaits Departmet.

7 16.2 If You are ot happy with the resolutio of Your complait oce Our complaits procedure has bee exhausted, You may be able to take Your complait to the Fiacial Ombudsma Service to ivestigate further. Their address is available o request. 17 Fiacial Services Compesatio Scheme 17.1 Importat iformatio about compesatio arragemets. The FSCS ca pay compesatio to depositors if a bak is uable to meet its fiacial obligatios. For further iformatio about the compesatio provided by the FSCS (icludig amouts covered ad eligibility to claim), please see the FSCS Iformatio Sheet ad Exclusios List, refer to the FSCS website or call the FSCS o CAF Fiacial Solutios Limited (CFSL) is authorised ad regulated by the Fiacial Coduct Authority uder registratio umber Authorisatio ca be checked o the fiacial services register at CFSL Registered office is 25 Kigs Hill Aveue, Kigs Hill, West Mallig, Ket ME19 4TA. Registered uder umber CFSL is a subsidiary of Charities Aid Foudatio (registered charity umber ) Telephoe calls to ad from Charities Aid Foudatio may be moitored or recorded for security/traiig purposes. Lies are ope Moday to Friday 9am 5pm (excludig Eglish bak holidays). workig i associatio with 2434D/0518 Shawbrook Bak Limited Registered office Lutea House, Warley Hill Busiess Park, The Drive, Great Warley, Bretwood, Essex CM13 3BE. Registered i Eglad Compay Number Shawbrook Bak Limited is authorised by the Prudetial Regulatio Authority ad regulated by the Fiacial Coduct Authority ad the Prudetial Regulatio Authority.