Definitions:
Services: Refers to the establishment, maintenance, and/or closure of an Account, along with any associated services.
Tax Authority: Denotes any tax authority or tax information authority with jurisdiction over Dutch Royal Finance.
Unauthenticated Instructions: Encompasses any communication, whether via telephone, telex, facsimile, or electronic mail transmission, provided by the customer concerning the Services.
Visa Card: Represents any Visa prepaid card issued by Dutch Royal Finance under these Terms and Conditions.
Visa Cardholder Agreement: Signifies the cardholder agreement or equivalent terms applicable to Visa Cards, as determined by Dutch Royal Finance.
General:
(a) These Terms and Conditions apply to each Account held at Dutch Royal Finance, superseding any prior terms and conditions.
(b) These Terms and Conditions complement any existing or future Services agreement between the customer and Dutch Royal Finance. In case of a conflict, these Terms and Conditions yield, unless expressly stated otherwise.
(c) Continued utilization of any Account or Services implies the acceptance of these Terms and Conditions, subject to potential amendments by Dutch Royal Finance without prior notice.
Application Forms:
(a) The customer asserts that they possess the authority to sign any Application Form and that the provided information is accurate.
(b) The customer commits to notifying Dutch Royal Finance of any changes affecting the Account's operation within 30 days, agreeing that failure to do so empowers Dutch Royal Finance to suspend or terminate related Services.
(c) The customer acknowledges that an Application Form's completion doesn't guarantee Account establishment, permitting Dutch Royal Finance to verify information independently and exchange financial details with relevant entities.
Operation of Accounts:
(a) The customer confirms the beneficial ownership of all funds deposited into an Account.
(b) Dutch Royal Finance may debit an Account for dishonored Instruments or required refunds, along with associated costs.
(c) Customer waives certain rights regarding Instruments, and Dutch Royal Finance is authorized to present, collect, or withdraw Instruments through designated agents.
(d) The customer indemnifies Dutch Royal Finance from Losses arising from the application of laws within jurisdictions where Instruments are payable.
(e) Dutch Royal Finance is authorized to pay and debit Accounts for relevant transactions and charges.
(f) Dutch Royal Finance may vary interest rates on an Account and apply credit balances against debts.
(g) Dutch Royal Finance may set off matured obligations between the customer and the bank without notice.
(h) The terms apply to each Account held by the customer across Dutch Royal Finance branches.
(i) The customer pledges not to hinder, delay, or engage in unlawful conduct or use of Services affecting Dutch Royal Finance or its creditors.
Personal, Business, and Trust Accounts:
(a) An Account within Dutch Royal Finance is designated for personal or business banking needs, as declared by the customer.
(b) Unless specified otherwise in writing, the customer certifies that no Account is utilized on behalf of a third party. Even with such notice, if the customer holds funds as a trustee or fiduciary, Dutch Royal Finance is not responsible for ensuring the funds' use aligns with trustee or fiduciary duties.
(c) In the case of any Account titled “in trust for” or “ITF” or equivalent, the customer remains the sole account holder, and the alleged beneficiary is not recognized as a customer of Dutch Royal Finance.
Overdrafts:
(a) Dutch Royal Finance may establish, modify, make payable, or revoke an overdraft limit for an Account. Overdrawn Accounts incur fees and interest based on Dutch Royal Finance's prevailing rates.
(b) Regardless of past practices, Dutch Royal Finance may decline to honor withdrawal requests or payment requests if there are insufficient available funds, including any overdraft limit.
Foreign Currency Deposits:
(a) Dutch Royal Finance, at its discretion and upon customer request, may open Foreign Currency Account(s) in the customer's name.
(b) The current credit balance in such Foreign Currency Accounts is withdrawable through specified means, and Dutch Royal Finance may honor instruments drawn by the customer against a Foreign Currency Account.
(c) Customer indemnifies Dutch Royal Finance for Losses incurred by honoring such instruments as if they were cheques.
(d) Credit balances in Foreign Currency Accounts may be held with Dutch Royal Finance's correspondent, subject to relevant regulations.
(e) The customer assumes full responsibility for consequences arising from taxes, regulations, or restrictions, authorizing Dutch Royal Finance to debit associated charges from Foreign Currency Accounts.
Fixed Term Deposits:
(a) Dutch Royal Finance may accept Fixed Term Deposits upon customer request, providing a Certificate of Deposit Receipt stipulating essential terms.
(b) Repayment of a Fixed Term Deposit is only possible at the issuing branch upon surrender of the corresponding Certificate of Deposit Receipt.
(c) Renewed Fixed Term Deposits follow the terms applicable before maturity, with interest adjusted to prevailing rates.
(d) Upon maturity, payment is made by draft or as instructed, relieving Dutch Royal Finance of related responsibilities.
(e) In the case of joint Depositors, the Bank follows specified instructions for remittances.
(f) In joint Deposits with survivorship rights, after confirmation of a depositor's death, remittances favor the surviving account holders.
(g) Dutch Royal Finance adheres to applicable laws, regulations, or orders concerning Fixed Term Deposits.
(h) Withdrawals before maturity are prohibited, and Dutch Royal Finance may require 30 days' notice for permitted withdrawals, levying a substantial interest penalty.
Early Withdrawal Penalty: If Dutch Royal Finance grants a withdrawal request before maturity, the greater of the loss of accrued interest or £150 (or currency equivalent), plus 1% of the principal, shall be levied. Replacement funding costs may also apply at the bank's discretion.
Waiver Of Penalty: In the event of a depositor's death or legal incompetence, the penalty will be waived.
Electronic Banking:
(a) Dutch Royal Finance is authorized to accept and/or honor each Electronic Banking Service (EBS) Transaction based on given instructions, debiting or crediting the Account accordingly. The Bank’s records are conclusive in this regard.
(b) The EBS Service is exclusive to the customer, following Dutch Royal Finance's instructions, and must not exceed specified limits. It does not grant the right to overdraw an Account unless agreed otherwise.
(c) The confidentiality of the EBS Security Code is crucial. It should not be written down, disclosed to others, or used in conjunction with personal identification numbers or security codes associated with the Bank's cards. Any unauthorized access due to code exposure holds the customer responsible, and Dutch Royal Finance disclaims liability for resulting losses.
(d) If the customer suspects the EBS Security Code's compromise, immediate notice to the Bank is required, followed by a code change as per the Bank's instructions. Until notice or a code change, Dutch Royal Finance is authorized to debit the Account for sums withdrawn or transferred using the EBS Service.
(e) If the EBS Security Code is disclosed or known by unauthorized persons, Dutch Royal Finance may involve the police and provide necessary information.
(f) EBS Transactions undergo verification and acceptance by the Bank. Transactions after 5:00 pm are valued on the following Business Day. Payments executed through EBS Transactions may take up to 3 Business Days to process.
(g) Dutch Royal Finance is not liable for delays, losses, or inconveniences caused by EBS Service malfunctions or operational failures. The Bank disclaims liability for losses related to unauthorized access or disputes with payees.
(h) Dutch Royal Finance may withdraw permission or terminate the EBS Service without notice, not being liable for resulting losses.
(i) The customer can terminate the EBS Service with 30 days' written notice. Any liabilities incurred before termination remain.
(j) Dutch Royal Finance may set and alter limits for EBS Transactions, communicated to the customer.
(k) Dutch Royal Finance considers the transaction record produced by the computer or machine at the time of each EBS Transaction as correct and conclusive, treated as the customer's written instructions.
(l) The customer must pay the Bank’s service charges, EBS Transaction charges, and fees applicable at prevailing rates, debited from the customer’s Account without notice.
(m) Information collected by Dutch Royal Finance may be used in relation to providing the EBS Service, determining the customer’s financial position, and promoting the EBS Service, shared with relevant parties, including credit bureaus.
Visa Cards:
(a) In the case of any Additional Visa Card issued by Dutch Royal Finance, the Customer undertakes:
(i) to be liable for all charges related to the Additional Visa Card, (ii) to ensure compliance by each Additional Visa Card Holder with the specified Terms and Conditions, terms on the Additional Visa Card, and the Visa Cardholder Agreement, (iii) to indemnify and hold Dutch Royal Finance harmless from any Losses resulting from non-compliance.
(b) To cancel a Visa Card, Customer must:
(i) Notify Dutch Royal Finance in writing, (ii) Cut the Visa Card in half, (iii) Return both halves to Dutch Royal Finance.
(c) If the Visa Cardholder Agreement is terminated, all Visa and Additional Visa Cards related to the corresponding Account(s) will be automatically cancelled.
(d) By signing any Visa Card application form, Customer:
(i) Confirms the truthfulness and accuracy of all statements and disclosures therein, (ii) Authorizes Dutch Royal Finance to verify the source of funds through exchanges of information with other financial institutions, credit bureaus, and relevant parties, (iii) Agrees to indemnify and hold Dutch Royal Finance, its affiliates, and subsidiaries harmless from resulting Losses.
Withdrawals, Deposits, and Rates:
(a) Dutch Royal Finance reserves the right to refuse:
(i) Acceptance of a deposit to an Account for any reason, (ii) Providing a cash withdrawal from an Account for any reason.
(b) Dutch Royal Finance is not obligated to pay cash in any currency other than British Pounds.
(c) Rates on foreign currency transactions may change at any time, subject to market conditions at the time of execution.
Standing Orders:
(a) If insufficient funds exist for Standing Orders, Dutch Royal Finance is authorized to make payments on behalf of the customer, but is not obligated to do so.
(b) If Dutch Royal Finance makes a Standing Order payment on behalf of the customer, the resulting balance in the Account becomes payable on demand by Dutch Royal Finance.
(c) If Dutch Royal Finance declines to make Standing Order payments for any reason, it is not liable for resulting losses or inconveniences.
(d) Dutch Royal Finance may, in its discretion, alter the payment dates for Standing Orders.
Interest:
(a) Interest payable by Dutch Royal Finance on credit balances may change at any time, with rates notified to customers accordingly.
(b) Interest charged by Dutch Royal Finance on overdrawn Accounts may also change at any time, and rates are communicated to customers.
(c) Dutch Royal Finance credits interest on a specified date each year. However, any amounts overdrawn are charged interest at the prevailing rates.
(d) The customer authorizes Dutch Royal Finance to apply interest on the Account as applicable and in accordance with the prevailing rates of interest.
Internet Banking:
(a) Dutch Royal Finance may provide Internet Banking Services at its discretion, subject to the Bank's prevailing Terms and Conditions.
(b) Access to the Internet Banking Service is granted only upon the provision of appropriate credentials, and Dutch Royal Finance may refuse access to anyone at its discretion.
(c) The customer must notify Dutch Royal Finance of any changes to their registered contact details immediately. Any unauthorized transactions resulting from failure to do so will be the customer's responsibility.
(d) Dutch Royal Finance disclaims liability for any losses caused by unauthorized access, delays in processing instructions, or disputes between the customer and payees using Internet Banking.
(e) Dutch Royal Finance reserves the right to change the functionality, features, or availability of the Internet Banking Service at any time.
(f) Dutch Royal Finance may also introduce additional security features at its discretion, and the customer must comply with them for continued access to Internet Banking.
(g) If the customer breaches the Terms and Conditions of Internet Banking, Dutch Royal Finance may suspend or terminate the Service without notice.
(h) Dutch Royal Finance reserves the right to charge fees for Internet Banking Services, subject to prior notification.
Closure Of Accounts:
(a) Dutch Royal Finance reserves the right to close an Account at any time without giving any reason. Notice will be provided before closure, but Dutch Royal Finance is not liable for losses due to closure without notice.
(b) The customer may close an Account at any time by giving Dutch Royal Finance written notice, provided there are no outstanding liabilities. Dutch Royal Finance will settle the balance in the Account after deducting applicable charges and fees.
(c) If the Account is closed, all related Visa Cards, overdraft facilities, and other Services will be terminated automatically.
Liability:
(a) Dutch Royal Finance disclaims liability for any loss, damage, or inconvenience arising from unauthorized transactions or errors caused by customer negligence or failure to notify Dutch Royal Finance immediately of any security breaches.
(b) Dutch Royal Finance is not responsible for any delays, errors, or failures in processing transactions due to events beyond its control, such as power outages, system failures, or communication breakdowns.
(c) The customer agrees to indemnify and hold Dutch Royal Finance harmless from any Losses resulting from the use or misuse of Accounts, Services, or any breach of these Terms and Conditions.
(d) Dutch Royal Finance is not liable for any loss, damage, or inconvenience caused by incorrect or incomplete instructions provided by the customer.
(e) The customer acknowledges that Dutch Royal Finance may record telephone conversations for training, monitoring, or security purposes.
Governing Law:
(a) These Terms and Conditions are governed by the laws of the United Kingdom, and any disputes arising from them will be subject to the exclusive jurisdiction of the courts of the United Kingdom.
(b) Dutch Royal Finance reserves the right to amend these Terms and Conditions at any time, with changes notified to customers through appropriate channels.
(c) The customer agrees to be bound by the amended Terms and Conditions upon continued use of Accounts and Services after the changes take effect.
Confidentiality:
(a) Dutch Royal Finance will keep customer information confidential, except where disclosure is required by law, regulation, or court order.
(b) The customer authorizes Dutch Royal Finance to share information with affiliated companies and third-party service providers for the purpose of providing Services, improving customer experience, and complying with legal obligations.
(c) The customer may request access to their personal information held by Dutch Royal Finance and request corrections if the information is inaccurate or incomplete.
(d) Dutch Royal Finance will take reasonable steps to protect customer information from unauthorized access, use, or disclosure, but is not liable for breaches caused by circumstances beyond its control.
Notices:
(a) Notices and communications related to Accounts or Services will be sent to the customer’s registered contact details. The customer must notify Dutch Royal Finance of any changes to their contact details immediately.
(b) Notices sent by Dutch Royal Finance are deemed received by the customer when dispatched by mail, email, or any other agreed method of communication.
(c) Dutch Royal Finance may also communicate important information through its website or other public channels, and the customer is responsible for regularly checking these sources for updates.
(d) Any notice given by the customer to Dutch Royal Finance must be in writing and sent to the address specified by Dutch Royal Finance. Verbal notices or instructions are not considered valid unless confirmed in writing.
Severability:
(a) If any provision of these Terms and Conditions is found to be invalid or unenforceable by a court or regulatory authority, the remaining provisions will continue to apply.
(b) Dutch Royal Finance may amend the invalid or unenforceable provision to the extent necessary to make it valid and enforceable, consistent with the original intent of the provision.
Force Majeure:
(a) Dutch Royal Finance is not liable for any failure or delay in providing Services due to circumstances beyond its control, such as natural disasters, strikes, lockouts, or government actions.
(b) If a Force Majeure event occurs, Dutch Royal Finance will take reasonable steps to resume normal operations as soon as possible, but is not responsible for any losses or inconveniences caused by the event.
Miscellaneous:
(a) The customer agrees to cooperate with Dutch Royal Finance in complying with legal and regulatory requirements, including providing information or documentation as requested by Dutch Royal Finance.
(b) Dutch Royal Finance reserves the right to refuse or limit Services to customers who fail to meet its requirements or comply with these Terms and Conditions.
(c) These Terms and Conditions constitute the entire agreement between the customer and Dutch Royal Finance regarding Accounts and Services, and supersede any prior agreements or understandings.
(d) Dutch Royal Finance may assign or transfer its rights and obligations under these Terms and Conditions to any affiliated company or third party without the customer’s consent.
(e) The customer may not assign or transfer their rights or obligations under these Terms and Conditions without Dutch Royal Finance’s written consent.
(f) These Terms and Conditions are binding on the customer’s heirs, successors, and assigns.
(g) Dutch Royal Finance may introduce new Services, products, or features from time to time, and the customer agrees to be bound by the applicable terms and conditions for those Services.
Complaints:
(a) If the customer has a complaint about Dutch Royal Finance’s Services, they should contact the Bank in writing or by phone, providing full details of the issue.
(b) Dutch Royal Finance will investigate the complaint and respond within a reasonable time frame, aiming to resolve the matter fairly and efficiently.
(c) If the customer is not satisfied with the outcome of the complaint, they may refer the matter to an independent ombudsman or regulatory authority as specified by Dutch Royal Finance.
(d) The customer agrees to cooperate fully with Dutch Royal Finance during the complaint resolution process and to provide any additional information or documentation requested by the Bank.
Final Provisions:
(a) These Terms and Conditions apply to all Accounts and Services provided by Dutch Royal Finance, regardless of the type of Account or Service.
(b) The customer acknowledges that they have read, understood, and accepted these Terms and Conditions, and agrees to comply with them at all times.
(c) Dutch Royal Finance reserves the right to amend, modify, or terminate any Service, product, or feature at any time, subject to prior notice to the customer.
(d) The customer agrees to pay all fees, charges, and taxes applicable to their Accounts and Services, as specified by Dutch Royal Finance.
(e) The customer acknowledges that these Terms and Conditions are subject to change, and that they are responsible for reviewing the latest version available from Dutch Royal Finance.