9th December 2020
Dear Client,
Personal Terms & Conditions – March 2021
Please be advised that our Personal Terms & Conditions have been updated and will take effect from 1 March 2021.
The document is available for you to read and download on our new website www.alphabanklondon.co.uk. It can be found in our Document Library on www.alphabanklondon.co.uk/mdocuments-library under the Personal Savings section as “T&Cs_Personal_2021”.
For your reference please note that the following points and clauses in the Personal Terms & Conditions have changed:
Clause No |
Clause Heading |
Amendment(s) |
n/a |
Definitions & Interpretation |
Definitions of Account, Base Rate, KYC, Privacy Notice |
1 |
General |
KYC requirements |
2 |
Unarranged Overdrafts |
Unarranged overdrawn balances |
3 |
Account Management |
Death of Account Holder, Joint account disputes, Statement recipients, Access of information |
4.2 & 4.3 |
Debit Interest & Credit Interest |
Overdrawn amount charges, Frequency of interest charges, Credit Balance interest, Notification periods, Fixed Deposit maturity notification, renewals and rate of interest, Notice Accounts interest, interest accrual calculation period |
5 |
Bank Charges |
Tariff availability, tariff amendments, notice periods |
6 |
Statements |
Statement frequency |
10 |
Communication |
Languages used |
11 |
Set–off of balances |
Right of set-off, Set-off money for jointly owed liabilities, different currencies, notice periods |
12 |
Inactive Accounts |
Inactive Account definition, charges and interest |
13 |
Data Protection and Tax Reporting |
Consent, Privacy Notice, Sharing information for Tax Reporting, Consequences of not receiving requested information, notification period |
14 |
Paying Cheques into your Account |
Cheque currency, interest and fund availability, cheque images, country of origin |
15 |
Clearing Cheques |
Chequebooks, fund availability |
18 |
Payments made into your Account by mistake or Fraud |
Return funds’ periods, sharing of personal information, fraud, payment reversals |
19.3 |
Refusal of Payment Instructions |
Reasons for not following a payment instruction, internal controls |
21 |
Specific conditions applicable to the Payment Services |
Monthly advices for outward payments no longer sent |
27 |
Ending the agreement |
Inability to comply with KYC requirements |
28 |
Right to cancel an Account or a service |
Cancelling Notice Accounts, Clarification on early termination of Fixed Deposit Accounts |
29 |
Exceptional Circumstances |
Definition of Exceptional Circumstances |
31 |
Complaints |
Financial Ombudsman Service contact details |
32 |
Notices |
Ways to give Notices |
33 |
How Alpha Bank London is regulated |
Financial Conduct Authority address |
34 |
Amendments to the Terms |
Notice Period |
35 |
Assignment |
Assignment of rights |
36 |
Law applying to these Terms |
Jurisdictions |
n/a |
Payment Instruction Information |
Updated Table |
Should you have any questions in relation to the Terms & Conditions please do not hesitate to contact your Relationship Manager.
Yours sincerely,
Joseph Neophitou
General Manager