Notification of Changes to the Terms and Conditions for KBC

9/21/16

Changes effective from Monday 21st November 2016

Effective from Monday 21st November 2016, we wish to advise existing personal customers of changes to the Personal Banking Terms and Conditions affecting the following products and services:

• Current Account
• Savings and Deposit Accounts
• Credit Card
• Overdrafts
• Online and Mobile Banking

Full details of these changes are outlined below.

If you do not wish to accept the updated terms and conditions, you are entitled to close your account. If you do not ask us to close your account, you will be deemed to have accepted the changes from 21st November 2016.

In relation to existing Fixed Term Deposit Accounts which mature after 21st November 2016, if you do not wish to accept the new terms and conditions, you are entitled to remain on the existing terms and conditions until the maturity date. At the maturity date if your account rolls over, the then current Personal Banking Terms and Conditions will apply to that account.
 

Clause Number Clause Title What has changed
Definitions and Interpretation Joint Accounts Updated to reflect that the maximum number of joint account holders in respect of an account is two.
Definitions and Interpretation EU Updated to include the definition of the European Union
Clause 7.1 Telephone Contact/Electronic Communication Updated to take account of the fact that that in addition to existing customer communication methods we may also contact you with a text message.
Clause 10.1 Right of Withdrawal Updated to reflect the fact that 14 days is calendar days. In addition the 14 days’ notice of withdrawal is deemed in respect of Fixed Term Deposit Accounts to be effective from the date of receipt of the confirmation letter by you once funds are lodged to the account.
Clause 11.4 Operating an Account Generally New Clause to include the actions KBC will take to manage and reduce the possibility of financial crime on your account including liability in relation to such activities.
Clause 15.3
 
Taxation Updated to reflect that a Certificate of Interest will now only be issued upon request.
Clauses 34.1 Availability of the Current Account Account opening criteria amended to allow a Current Account application from a person(s) legally resident in an EU Member State.
Clause 35.2 Purpose for which a Current Account can be used Updated to clarify that lodgements to the Current Account are only permitted in Euro and that Non- Euro withdrawals may be made with your Debit Card but we do not permit the withdrawal of non-euro cheques and/or drafts.
Clause 36.2 Opening a Current Account Clause updated in relation to Joint Account holders and the requirement to avail of Debit Card Service and Online Services.
Clause 38.4 Lodgement Amended to clarify acceptance of third party cheques.
Clause 49.3 Use of Debit Card Generally Clause updated in relation to the availability of Debit Cards on a Joint Account.
Clause 68 (In previous Terms & Conditions)
 
Mandating Salary Clause removed as no longer required when applying for an Overdraft facility.
Clause 74.2 (formerly  clause 75.2)
 
Availability of Deposit Accounts Clarification of eligibility criteria for Deposit Accounts.
Clause 77.3 (formerly  clause 78.3)
 
 
Lodgements Amended to clarify acceptance of third party cheques.
Clause 77.5.3(formerly  clause 78.5.3)
 
Regular Saver Account Amended to allow for the fact that only one Standing Order may credit the Regular Saver account each month
Clause 77.6 (formerly  clause 78.6)
 
 
Lodgements Amended to reflect Cheque Clearing Period/Cut-Off times.
Clause 79.2(formerly  clause 80.2)
 
 
 
 
Withdrawals Clause updated to reflect the fact that only original withdrawal instruction can be accepted by us.
Clause 79.7.2(formerly  clause 80.7.2)
 
Notice Deposit Accounts Amended to advice that a full withdrawal may be required where appropriate notice to withdraw is not provided to KBC.
Clause 79.7.6(formerly  clause 80.7.6)
 
Notice Deposit Accounts Amended to reflect funds availability and where this day is a non-business day.
Clause 79.7.6.1
 
 
Notice Deposit Accounts New clause to clarify that where customer wishes to withdraw funds and close account, two payments will be issued.
Clause 80.3 & (formerly 81.3)
 
 
Maturity of Fixed Term Accounts Updated to reflect that maturity instructions received by KBC after the Maturity Date but during the 14 day withdrawal period are effective from the date we receive them.
Clause 80.9 Maturity of Fixed Term Accounts New clause advising that funds can only be reinvested in an account in the same currency
Clause 83.1(formerly  clause 84.1)
 
Deposit Account Statements Updated to reflect the fact that account statements may be issued in a durable medium and/or in addition to post.
Clause 83.1.1 Deposit Account Statements New clause advising customers of the right to cancel a Fixed Term Deposit within 14 days of receipt of a Fixed Term confirmation letter.
84.8.4 (formerly clause 85.8.4.) Regular Saver Account Amended to allow for the fact that only one Standing Order may credit the Regular Saver account each month.
84.8.8 (formerly clause 85.8.8.) Regular Saver Account Amended to clarify that any funds received for credit to the Regular Saver which are not permitted within the Terms & Conditions, may be returned to the Funding Account
84.8.9 (formerly clause 85.8.9.) Regular Saver Account Updated to clarify that only two Standing Orders per month are permitted for Regular Saver joint accounts.
84.8.11(formerly clause 85.8.11.) Regular Saver Account Updated to clarify that where a customer funds both a Regular Saver Account and an Extra Regular Saver Account, funds lodged to the Regular Saver Account may at the discretion of KBC, be returned to the Funding Account.
84.10.4.1
 
Smart Move Online Demand Account New clause outlining process for making withdrawals using our digital services from this account.
84.11.5(formerly  clause 85.11.5)
 
Extra Regular Saver Account Amended to allow for the fact that only one Standing Order may credit the Regular Saver account from the Extra Current Account each month.
84.11.7 (formerly 85.11.7) & new clause 84.11.7.1)
 
Extra Regular Saver Account Updated to advise that multiple lodgements are not permitted to the Extra Regular Saver Account. The lump sum lodgement must be made in the first month following account opening.
84.11.7.1 New clause outlining process that if the lump sum is from multiple sources it should be lodged to the Extra Current Account before being transferred to the Extra Regular Saver Account.
 
84.12.5 (formerly  clause 85.12.5)
 
Extra 12 Month Fixed Rate Account Updated to reflect the fact that if the account balance exceeds the maximum account balance of €100,000 that the entire balance will earn interest at the prevailing Standard Demand Deposit Account interest rate for Euro deposits.