Last modified: Jul 27, 2021, 09:56 (UTC+03:00)
This is the Account Schedule for your Business Current Account. This forms part of your Agreement with us in respect of your Business Current Account. Except where otherwise defined in this Account Schedule, terms defined in the General Part will have the same meaning in this Account Schedule.
In respect of your Business Current Account, the terms of our Agreement apply to each Authorized Individual in their individual capacity and to the Company
You confirm that:
If any of the confirmations listed above become false, inaccurate or misleading, you must inform us immediately
Each Authorised Individual will have equal and full rights in respect of the operation of the Company’s Business Current Account and we will not require authorisation from all Authorised Individuals before carrying out an instruction from one of you. However, if you wish to close your Business Current Account you will need to follow the procedure as set out below at Closure of your Business Current Account.
Each Authorised Individual will have access to the Business Current Account through the App and will have full permission to use any of the features without having to seek permission from any other Authorised Individual, including in relation to granting Third Party Providers access to, and authority to make payments from, the Business Current Account. All Authorised Individuals will be able to see all payment transactions made on the Business Current Account and access all other features of the App in relation to the Business Current Account and this may include seeing the full support history on the Business Current Account for all Authorised Individuals.
If an individual is in a position of influence to the shares of the company, or all or substantially all of the business assets. The company is sold or transferred in any situation that there is a significant change in any position of Significant Control of the company, you must immediately make notifications to us which confirm that the change has occurred.
We require any new present of Significant Control in the Company that has been undertaken to our standard identification and verification procedures (“ID&V Procedures via Identify”). More importantly, we may have to close the Business Current Account immediately if the requirements of Identification have not been completed instantly by the companies.
a- The changes of the companies are subject to the requirements of identifications from us, the customers are required to make notifications to us as soon as possible (in 10 days during which changes have been made).
b- The changes of information or company structures may enable us the right to accept or refuse your account. If a refused decision is made, the customer is required to close the account and set up a new account opening profile. If an approved decision is made, it is noticeable that depending on the case, Fees will be applied in conjunction with the opening account process (up to 500 EUR).
If you inform us or we become aware of a dispute within the Company or between the Persons of Significant Control of the Company, we will go through the following process:
It is your responsibility to inform us if there is any such dispute.
Following notification of a dispute, we will continue to allow existing direct debit mandates unless all the Authorised Individuals confirm in writing otherwise.
You may request that we close the Business Current Account, by providing written instructions from at least one Authorised Individual to do so.
In addition to our rights set out in the paragraph entitled “Closing your Account” in Section 3 (Managing your Account) of the General Part, we may close or suspend your Business Current Account immediately on notice and terminate our Agreement in respect of your Business Current Account if:
“Authorised Individuals” means all individuals, who are both Persons of Significant Control and directors of the Company, who are authorised to operate and manage the Business Current Account on behalf of the Company (and “Authorised Individual” means any one of them).
“Person of Significant Control” means the person or those people listed in your Company’s public persons of significant control register because they meet the conditions in Schedule 1A of the Companies Act 2006 (or any future update or replacement to that law).
“Sanctions Authorities” means the following national and supra-national authorities: United States Department of Treasury’s Office of Foreign Assets Control, the United Nations Security Council, the European Union and the UK’s Office of Financial Sanctions Implementation within Her Majesty’s Treasury.
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