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Important changes to our Personal Account and Business Account Terms and Conditions

Posted on: Friday, October 30, 2009

A new law called the Payment Services Directive 2009, comes into effect from 1 November 2009.  The aim of the Law is to afford greater protection to customers using payment services and to ensure that terms and conditions are explained clearly.  We have taken this opportunity to review our own terms and conditions and have made some changes.  The main changes are detailed below.

I trust you will find the summary self explanatory, however, should you require further information or wish to discuss the content of this letter please contact either your Relationship Manager or our Relationship support team on 0845 293 5535. Copies of the new Terms and Conditions are available to download from our website.

Personal and Business Account Terms and Conditions changes

12. Changing the terms of this agreement

12.1 Interest rates

If we change the interest rate on your account we will tell you about the change by writing to you within the required regulatory timeframe of the change.

12.2 Other changes
We may make changes to the services, charges or conditions and we may introduce new services, charges or conditions

If the change is to your disadvantage, we will write to you within the required regulatory timeframe before we make the change.

At any time up to 60 days from the date of the notice you may, without notice, switch your account or close it without having to pay any extra charges or interest for doing so.
We may also make any other changes immediately and tell you about it within the required regulatory timeframe.

If we have made a major change or a lot of minor changes in any one year, we will give you a copy of the new conditions or a summary of the changes.

13. Closing your account
When we receive your application to open an account, you have 14 days to cancel this application and we will return your funds to you together with all documentation you have supplied to us. If you wish to cancel your Account, then you must give us written notice within the time frames stipulated above to The Access Bank UK Limited, Royal Court, Gadbrook Park, Northwich, Cheshire, CW9 7UT.

Once your account has been opened and is operational, you can close your account at any time by telling us. We may ask you to confirm this in writing. If you do tell us that you wish to close the account you must refrain from using our banking services or facilities without our consent. (In the case of joint accounts any one account holder may tell us providing you have agreed that any one of you can give us instructions.)