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Changes to KBC Basic Current Account Terms & Conditions

04 September 2019

Effective from 13th November 2019

We would like to advise you of a change to our Basic Current Account Terms & Conditions which will come into effect for new customers on 13th September 2019, and for existing customers on 13th November 2019.

The new Terms and Conditions (pdf, 156 KB) are available and will come into effect on 13th November 2019.

Below you will find a summary of the changes including the updated definitions (pgs. 4-7). 
In addition, immaterial changes have been made to the following definitions and clauses which have not been included below; definition: Anti-money laundering, definition: Data Protection Law, clauses 4.5, 8.4, 32.1.1, 42.2 and 42.3.

 
Credit Transfer means the account provider transfers money (in the form of an Electronic Fund Transfer "EFT"), on the instruction of the customer, from the customer’s Account to another account.
AISP means an Account Information Service Provider
CBPII means a Card Based Payment Instrument Issuer
Payment Account means a Basic Current Account
PISP means a payment initiation service provider
TPP means any payment service provider that you may use to provide services in respect of your Payment Account including AISP’s, PISP’s and CBPII’s.
 

Changes to existing clauses:

 
Existing Clause What Section is this covered in Clause as per new Personal Banking Terms and Conditions (dated 13th September 2019)
5.2 Operating a Basic Current Account generally We reserve the right not to open a Basic Current Account, or to close an existing Account, if we do not have satisfactory
documentation to satisfy our legal and regulatory obligations in respect of anti money-laundering, fraud prevention and/or the prevention of the financing of terrorism, FATCA and CRS or for any other reason in our absolute discretion.
8.3 Joint Basic Current Accounts Correspondence and notices including statements in respect of Joint Basic Current Accounts will issue to both Accountholders at the first named account holder's address unless both Accountholders have requested otherwise in writing. In the case
of a Joint Basic Current Account where the account holders reside at different addresses, correspondence and notices including statements in relation to the Joint Basic Current Accounts will
be sent to or served on both Accountholders at the first named Accountholder's address unless both Accountholders have requested otherwise in writing. Any such correspondence and/ or notices so sent or served will be deemed to have been received and served upon both Accountholders. In respect of eStatements different provisions apply, see Clause 42.1 for further details.
14.1 Opening a Basic Current Account To open a Basic Current Account, you must complete a Current Account Application. You can submit your application by phone, by post or deliver it to one of our offices or mobile units. The Basic Current Account will be opened on receipt of a fully completed
Account Application but will not become operational until we receive all Anti-Money Laundering Documentation in a form satisfactory to KBC.
15.10 Operating a Basic Current Account Generally

We may reverse any erroneous or incorrect credit or debit made to your Basic Current Account if the item is so credited or debited in error or is not paid or is recalled by the paying bank (including when we are the paying bank) or it is returned due to mistake, fraud or the operation of any applicable clearing rules. We may do so without reference to you or seeking your approval. We may in certain instances ask for your authorisation to recover a misdirected payment credited to your account. If we do not receive your authority we reserve the right to provide such of your details as are required to the relevant payer to assist them in recovering the payment.

40.6 Credit Transfers (Individual Credit Transfers and Standing Orders)

You can suspend / amend a single incidence of a recurring Standing Order, or cancel a Standing Order, by providing a fully signed written instruction to KBC Bank, Sandwith Street, Dublin 2 no later than 2 business days before the date specified for payment of the relevant Standing Order. Alternatively you can use the Digital Service to provide an instruction up to 4.00 p.m. on the Business Day preceding the date specified for payment of the relevant Standing Order.

42.1 Account Statements All information on the Basic Current Account will be available to you through Digital Services. Statements on your Basic Current
 

 

New Clauses:

New Clause What section is this covered in? Clause as per new Personal Banking Terms and Conditions (dated 13th September 2019)
42.4 Account Statements and Correspondence On an annual basis we will provide you with a Statement of Fees setting out the fees and charges incurred on your Basic Current Account in the previous year.
Clauses relating to the introduction of eStatements. A notification will be provided later this year prior to the introduction of eStatements.
42.1.1 Account Statements and Correspondence Where you avail of Digital Services we may decide to only issue eStatements on your Basic Current Account. You can access your eStatements by logging onto either your Mobile Service or Online Service. Statements are issued once a quarter (or more frequently if requested) and we may notify you by text message or email when a new statement is available for review. However you should regularly check your Digital Service for updates. You will be
deemed to have received your eStatement when it has been made available through your Digital Service.
42.1.2 Account Statements and Correspondence Where you avail of Digital Services but wish to continue to receive paper statements you may at any time, switch your preference
to receiving printed statements through the Digital Service or by contacting our Customer Services helpline. If you elect to receive paper statements or do not avail of Digital Services, statements will be issued once a quarter by post to the address provided to us on account opening unless you have advised us of a change of address.
42.1.3 Account Statements and Correspondence eStatements will be made available on your Digital Service for a minimum of 18 months from the statement date. However, you will no longer be able to view your eStatements on your Mobile Service if you close or we terminate your Basic Current Account. It is your responsibility to print, save or otherwise store your eStatements for future reference in these situations.
42.1.4 Account Statements and Correspondence Where your Basic Current Account is a Joint Account and either or both Joint Accountholders avail of the Digital Service, eStatements will be issued in accordance with Clause 43.1.1 above. eStatements will be available to both Joint Accountholders on the Digital Service.
42.1.5 Account Statements and Correspondence KBC reserves the right to withdraw access to eStatements at any time, for any reason and issue statements by post to the address provided to us on account opening unless you have advised us of a change of address.
Clauses relating to PSD2 Changes
77.1 Third Party Providers You can use the services of a TPP in respect of your Payment Accounts with us where you have availed of Digital Services. Without prejudice to clause 108(1) you may disclose your Security Materials to an authorised TPP if you wish to use their services. YOU SHOULD ONLY USE THE SERVICES OF AN
AUTHORISED TPP. YOU CAN CHECK WITH THE CENTRAL BANK WHETHER A TPP IS APPROPRIATELY AUTHORISED.
77.2 Third Party Providers If you choose to use the services of a TPP it is your responsibility to:
77.2.1 Third Party Providers read and be familiar with the terms and conditions of the TPP and be satisfied that you understand your obligations under them and can comply with them,
77.2.2 Third Party Providers know and understand what information the TPP will have access to and how they will use it and who they may pass this information to,
77.2.3 Third Party Providers ensure that the TPP is appropriately authorised and registered. You can check with the Central Bank of Ireland whether a TPP is appropriately authorised and registered.
77.3 Third Party Providers If you provide a TPP with access to your Payment Accounts you can decide whether to allow the TPP to access account balance and transaction information, or make payments from the account or both. We will however only allow the TPP to access your Payment Account to the extent to you have consented to this.
77.4.1 Third Party Providers You can avail of the services of an AISP and instruct them to access account balance and transaction information in respect of your Payment Accounts. If you do so, you must authorise us to share your account information with them. You will do this by using the verification process on our Digital Services and your Security Materials. Once we receive this authorisation from you, the AISP will then be permitted unrestricted access to the
information in respect of your Payment Account for a period of 90 days after which you will need to re-authorise us again to share this information with the AISP using the same procedure.
77.4.2 Third Party Providers Any instruction we receive from an AISP to access information in respect of your Payment Account is considered to be an instruction from you.
77.5.1 Third Party Providers You can avail of the services of a PISP and instruct them to initiate a payment on your Payment Accounts. If you do so you must authorise us to make the payment. You will do this by using the verification process on our Digital Services and your Security Materials. Once you have authorised us to make the payment initiated by the PISP it cannot be revoked unless you request us to do so prior to our Cut Off Time.
77.5.2 Third Party Providers Any instruction we receive from a PISP to initiate a payment from your Payment Account is considered to be an instruction from you.
77.6.1 Third Party Providers You can avail of the services of a CBPII and instruct them to check whether the balance on your Payment Account is sufficient
to make a payment on your Debit Card. If you do so you must authorise us to share this information with them. You will do this by using the verification process on our Digital Services and your
Security Materials. Once we receive this authorisation from you we will provide this information on request to the CBPII until you cancel your permission with the CBPII.
77.6.2 Third Party Providers Any instruction we receive from a CBPII to check whether the balance on your Payment Account is sufficient to make a payment on your Debit Card is considered to be an instruction from you.
77.7 Third Party Providers Where the Payment Account is held in joint names, one of you may instruct a TPP to access your account balance and transaction information and/or initiate a payment and authorise us to do provide this information and/or make the payment. Any such instruction we receive will be considered as coming from all parties to the Joint Basic Current Account.
77.8 Third Party Providers If you no longer wish to avail of the services of the TPP or wish to cancel the permissions you have given them you will need to contact them directly and follow their procedures for cancelling
and terminating the services and/or your permissions. We cannot do this on your behalf. If we are in the process of carrying out an instruction from the TPP at the time you terminate the service or cancel the permission we may not be able to stop processing the instruction, in these circumstances you authorise us to comply with the instruction.
77.9 Third Party Providers You acknowledge that if you avail of  the  services  of  a  TPP they will have to access your Payment Accounts with us. The access that the TPP will have shall be the same as that which you have through our Digital Services. The TPP is responsible for ensuring that the information it holds in respect of your Payment Account is correct. Should you be concerned about the security of your account at any time you should immediately contact us.
77.10 Third Party Providers To the fullest extent permitted by law and subject to any rights you may have to a refund, we are not accountable for and do not accept any liability or responsibility for any loss, damage
(including without limitation incidental, punitive, exemplary, special or consequential damages, loss of profit) resulting from your use of the services of a TPP and/or the acts or omissions of the TPP.
77.11 Third Party Providers We reserve the right not to act on the instruction of a TPP for any valid reason (such as fraud, the prevention of money laundering and/or terrorism). Where we do so we will contact you as soon as possible and explain the reason to you unless we are prevented by law from doing so.
77.12 Third Party Providers We keep records of the instructions we receive from you and the TPP. In the case of a dispute between you and us or you and the TPP or us and the TPP regarding your Payment Account, our records shall in the absence of manifest error and until the contrary be proved be conclusive for the purposes of this agreement.
 

What happens next?

The change will come into effect from 13th November 2019 for existing customers, and there is no action required by you. If you do not wish to accept the new Terms & Conditions, you can submit a request to close your account and no charge will be incurred for doing so. In order to close your account, your account must be brought to a zero balance prior to account closure. If you do not instruct us to close your account before 13th November 2019, we will assume you have accepted the changes.