Change to General Terms and Conditions

With effect from 21 October 2024, we have updated our General Terms and Conditions as follows:

• Clause A1.1 has been amended and a new Clause A11.5 has been added so that the minimum age to hold a deposit account is now 16 years of age, unless otherwise indicated in the specific conditions of an account
• A new Clause A1.3 has been added to clarify that accounts will be opened with Isle of Man situs unless the customer is Jersey resident, in which case the account will have Jersey situs
• To reflect operational changes, Clause A1.6 about how to authorise a third party to operate a customer account has been removed alongside the definition of a third party authorisation. New Power of Attorney and third party access information is now available separately
• A new Clause A1.22 has been added to clarify when we may restrict access to accounts and services, for example if we suspect that security credentials or devices have been used fraudulently or without permission
• Clauses A4, A5 and A9 have been updated to reflect operational practice and a new clause A9.7 added to clarify that value dates depend on the currency or currencies involved. We have also added new clauses A5.18, A5.19 and A5.20 to clarify what happens if a payment is returned, if we’ve made a late payment or made a payment error and what happens if you’ve been tricked into sending money to a fraudster or have given access to your account to a third party
• Clause A8.1 has been amended to permit us to share information with custodians we may appoint to manage your account and help us develop and improve our products and services
• Clause D3.3 has been updated to clarify that customers may ask for a Sterling cheque book for Gold Accounts denominated in Sterling
• Clause I1.4 has been updated to clarify the position that if, at our discretion, we permit a withdrawal without notice from a Notice Account then a penalty interest rate will be applied
• References to ‘Gold Bank Account’ have been updated to ‘Gold Account’
• We have added a definition to clarify that when we give you written notice of any changes that are to your disadvantage, then we may give written notice electronically through our Online and Mobile Banking services (where a customer has registered for those services), or by another messaging system such as email, or by post.

If you have any queries about these changes, please contact us.