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Changes to KBC Personal Banking Terms and Conditions

04 September 2019

Effective from 13th November 2019

We would like to advise you of a change to our Personal Banking 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, 252 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. 5-8).
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 4.7, 8.4, 28.1.1, 48.1.4, 79.2, 79.7.1, 79.7.2, 82.1, 84.8.1, 84.10.2, 84.12.7 and 99.1.

 
Account means a Current Account (including any Overdraft or Overdraft Facility), Personal Deposit Account and/or Credit Card Account as the case may be held in your name with KBC
AISP means an Account Information Service Provider
Cash Withdrawal means the customer takes cash out of the customer’s Account.  In the case of a Credit Card Account this includes the purchase of quasi cash such as gaming tokens or chips or placing bets online.
CBPII means a Card Based Payment Instrument Issuer
Credit Limit means the maximum authorised  debit balance that you are allowed to have outstanding on the Account at any time
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
Payment Account means a Current Account and/or a Credit Card 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)
8.3 Joint Accounts Correspondence and notices including statements in respect of Joint 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 Account where the account holders reside at different addresses, correspondence and notices including statements in relation to the Joint 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 43.1 for further details.
11.6 Operating an Account Generally We may reverse any erroneous or incorrect credit or debit made to your 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.
34.1 Availability of the Current Account The Current Account is only available to a Personal Customer who is over 17 years of age and legally resident in the European Union. In the case of a Joint Account each Accountholder must be a Personal Customer
over 17 years of age and resident in the European Union. Non-resident accounts are only permitted for Personal Customers in certain jurisdictions and is subject to specific criteria.
36.1 Operating a Current Account To open a Current Account, you must complete a Current Account Application. You can submit your application by using the Digital Service , by phone, by post or deliver it to one of our offices or mobile units. The 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.
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.
43.1 Account Statements and Correspondence All information on the Current Account will be available to you through Digital Services. Statements on your Current Account are issued once a quarter (or more frequently
if requested) either by post or digitally on your Digital Service.
43.2 Account Statements and Correspondence You can review your account information online and upon receipt of your statement you should examine it carefully and report any disputed transactions, errors or omissions to us. You must notify us without undue delay on becoming aware of an unauthorised or incorrectly executed transaction in accordance with Clause 62 and 63 of these Terms and Conditions and as otherwise provided for in these Terms and Conditions. KBC accept no responsibility for any loss, damage or expense incurred by you as a result of or in connection with any delay or failure by us to provide eStatements.
43.3 Account Statements and Correspondence You may request additional paper statement(s) or a paper copy of an eStatement of a Current Account at anytime, however a fee (in accordance with our Fees and Charges Booklet) may be incurred and debited to the Current Account in respect of this service. You may request a statement by writing to us at KBC Current Account Team, KBC Bank Ireland plc., PO Box 12421, Sandwith Street, Dublin 2 or phoning us at 1800 93 92 44.
77.5.3 Lodgements Unless otherwise provided for in Clause 84 below, accounts can be funded by Standing Order and/or Credit Transfers from an account in the Republic of Ireland. No cheque lodgements will be accepted. We may set maximum and minimum amounts in respect of these monthly lodgements. These amounts will be communicated to you at account opening. Unless
otherwise provided for in Clause 84 below, no lump sums may be lodged to the account either at account opening or during the term of the Account."
84.5.4 Fixed Rate Deposit Account with Withdrawal Facility Any withdrawal must be required within thirty days of submitting a fully completed withdrawal instruction. You cannot submit a withdrawal instruction for a future date.
84.8.12 Additional Terms and Conditions for Particular Deposit Accounts Once the balance in the Regular Saver Account exceeds
€50,000 (including interest credited to the account) the entire balance will earn interest at the then prevailing Standard Demand Deposit Account interest rate in accordance with our Personal Deposit Rate Matrix. We will not provide any notice to you in this respect. Where applicable your Standing Order(s) will continue to fund your Regular Saver Account.
84.9.2.1 Instant Interest Fixed Rate Account You may only make one initial lodgement via internal transfer, Credit Transfer or cheque at account opening.
84.9.3 Instant Interest Fixed Rate Account Accrued interest may be transferred to your Current Account on request. In order to request same you may call us on 1800 93 92 44, visit one of our Hubs or send a written instruction. Only the interest accrued may be withdrawn in this manner and no withdrawal of capital
may be made during the term of your Instant Interest Fixed Rate Account. Interest withdrawals are paid only to your Current Account and will be transferred within 24 hours of receipt of such an instruction (written instructions must be fully completed and signed).
84.11.8 Additional Terms and Conditions for Particular Deposit Accounts If the Account balance exceeds €40,000 (including interest credited to the Account), the entire balance will earn interest at the then prevailing Standard Demand
Deposit Account interest rate as per our Personal Deposit Rate Matrix. Your Standing Order(s) will continue to fund your Extra Regular Saver Account. We will not provide any notice to you in this respect.
84.13.2 Additional Terms and Conditions for Particular Deposit Accounts 35 days’ signed notice is required to make a withdrawal from this Account.
100.1 Monthly Payments You are required to pay the minimum balance due as set out in your monthly statement by the due date specified in the statement. The due date will be 25 days from the date of the statement. The minimum balance due will be 5% of the balance outstanding on the Credit Card Account or
€5 whichever is the higher. You may set up a direct debit and select as the minimum payment percentage any of the following percentages: 5%, 25%, 50% (subject to a minimum payment of €5 if higher) or 100%.
100.2 Monthly Payments You make payments to your Credit Card Account by Credit Transfer, standing order or cheque and direct debit. Cheques should be sent to PO Box 12485, KBC Bank Ireland Plc, Sandwith Street, Dublin 2. Details of the account for payment by Credit Transfer or standing order can be found on your statement. You may also when available pay using a debit card. Payments should include the 16 digit card number as a reference in order to ensure payments are applied successfully.
102.6 Cancellation and Termination In addition to the above we may cancel your Credit Card and cease to provide you with Credit Card services and close your account for any reason at any time by providing you with two months prior written notice.
103A Instalment Plans The instalment plan is a feature of your KBC Credit Card that gives you the option of lower interest payments on Credit Card purchases (the “Instalment Plan”). Eligible purchases are repaid over a set period of monthly instalments at the Instalment Plan Interest Rate (as defined below) subject inter alia to the terms and conditions below. Please contact our Customer Service advisors to arrange for a purchase to be put on an Instalment Plan.
 

 

New Clauses:

New Clause What section is this covered in? Clause as per new Personal Banking
Terms and Conditions (dated 13th September 2019)
76.4 Operating a Deposit Account Generally Deposit Accounts must be operated in credit at all times.
Clauses relating to the introduction of eStatements. A notification will be provided later this year prior to the introduction of eStatements.
43.1.1 Account Statements and Correspondence Where you avail of Digital Services we may decide to only issue eStatements on your 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.
43.1.2 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.
43.1.3 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 Current Account.
It is your responsibility to print, save or otherwise store your eStatements for future reference in these situations.
43.1.4 Account Statements and Correspondence Where your 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.
43.1.5 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.
43.4 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 Current Account in the previous year.
Clauses relating to PSD2 Changes
120.1 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.
120.2 Third Party Providers If you choose to use the services of a TPP it is your responsibility to:
120.2.1 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,
120.2.2 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,
120.2.3 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.
120.3 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.
120.4.1 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.
Clauses relating to PSD2 Changes
120.4.2 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.
120.5.1 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.
120.5.2 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.
120.6.1 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 Credit Card and/or 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.
120.6.2 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 Credit Card and/or Debit Card is considered to be an instruction from you.
120.7 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 provide this information and/or make the payment. Any such instruction we receive will be considered as coming from all parties to the Joint Account.
Clauses relating to PSD2 Changes
120.8 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.
120.9 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 anytime you should immediately contact us.
120.10 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.
120.11 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.
120.12 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 automatically 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.