NOTICE OF VARIATION

234018319.indd 1 13/11/2019 06:25 2 Notice of Variation

Notice of Variation

This Notice of Variation sets out some changes to our agreement with you which will take effect on 1 February 2020 unless otherwise stated. We have referred to the amended clauses in the right hand column to assist you in finding these changes.

Terms and Conditions What is changing? Where can I find these changes? All cheques now follow a faster two-day clearing cycle. Clause 5.2.1 Cheques paid into your account at a Post Office may Clause 5.2.5 has been deleted take an additional two Business Days to clear. We have clarified what happens when you don’t have Clause 6.4.1 sufficient funds to meet a payment demand. We have clarified the reason we can make changes to Clauses 11.1.1, 11.1.2, 11.1.3, your agreement. 11.1.4 and 16.13

A Guide to Using your Account What is changing? Where can I find these changes? All cheques now follow a faster two-day clearing cycle. Cash and Cheques, Page 4 Cheques paid into your account at a Post Office may Paying into your Account, Page 4 take an additional two Business Days to clear. Cheques Payable to Clients Returned Unpaid, Page 5

Scale of Charges – Banking Services for Private Clients What is changing? Where can I find these changes? We have explained in more detail how we provide International Banking Services FX rates for transactions. We have removed the fee for unpaid Direct Debits Ancillary Services and standing orders on third party accounts.

Scale of Charges – Banking Services for Business Clients - Effective 1 December 2019 What is changing? Where can I find these changes? We have clarified that the Adam & Company Base Rate The Adam Business Current Account tracks the Bank of England Base Rate and will move automatically with the Bank of England Base Rate. We have reduced the fees for overseas electronic International Banking Services payments via Adam 24 and Adam Online. We have separated the fees for crediting SWIFT receipts International Banking Services dependent on the currency and country they are received from.

234018319.indd 2 13/11/2019 06:25 Notice of Variation 3

We have removed the fee for receiving a Single International Banking Services European Payment Area (SEPA) Euro Credit Transfer. We have reduced the fee for sending a Single European International Banking Services Payment Area (SEPA) Euro Credit Transfer. We have reduced the fee for overseas electronic Online Banking Service, Payments payments instructed online. instructed online We have clarified that, when sending money outside Online Banking Service of the UK, where applicable, the Payment Delivery Charge may be subject to currency conversion and, in some cases, when sending payments outside of an EU/EEA Member State, Switzerland, Monaco or San Marino, intermediary and/or beneficiary may deduct their fee(s) from the payment amount.

Adam Black Card General Conditions What is changing? Where can I find these changes? We have removed a clause that enables us to make Clause 8.1.3 changes to your terms and conditions. If we make changes to your terms and conditions, you will always be notified in advance.

Adam Black Card Insurance Remuneration statement with effect from 1 October 2018 – 31 December 2019 Travel insurance is provided to you as a benefit on the Adam Black Card, where an annual card fee of £200 is payable and charged in arrears. Adam & Company pass any fees collected in respect of that insurance to AWP P&C SA, the insurers. Adam and Company do not receive any commission for arranging the insurance, however, if AWP P&C SA generates a specific level of annual profit over the entire Bank’s travel portfolio underwritten by them, they are required to pay Adam and Company a share. Remuneration statement with effect from 1 January 2020, when the Loss Damage Waiver will be underwritten by AWP P&C SA. Travel insurance and Loss Damage Waiver are provided to you as benefits on the Adam Black Card, where an annual card fee of £200 is payable and charged in arrears. Adam & Company pass any fees collected in respect of that insurance to AWP P&C SA, the insurers. Adam and Company do not receive any commission for arranging the insurance, however, if AWP P&C SA generates a specific level of annual profit over the entire Bank’s travel portfolio underwritten by them, they are required to pay Adam and Company a share. Remuneration statement Continental Car Breakdown Cover with effect from 1 October 2018. Continental Car Breakdown cover is provided to you as a benefit on the Adam Black Card, where an annual card fee of £200 is payable and charged in arrears. Adam & Company pass any fees collected in respect of that insurance to U K Insurance Limited, the insurers. Adam and Company do not receive any commission for arranging the insurance, however, if U K Insurance Limited generates a specific level of annual profit over the entire Car Breakdown portfolio underwritten by them, they are required to pay Adam and Company a share.

234018319.indd 3 13/11/2019 06:25

13/11/2019 06:25 13/11/2019 4 234018319.indd

ADAM95758 (11/19) adambank.com

Calls may be recorded. be may Calls

Authority and the Prudential Regulation Authority. Regulation Prudential the and Authority

Regulation Authority and regulated by the Financial Conduct Conduct Financial the by regulated and Authority Regulation

The Royal Bank of plc is authorised by the Prudential Prudential the by authorised is plc Scotland of Bank Royal The

Financial Services Firm Reference Number 114724. Number Reference Firm Services Financial

Registered Office: 36 St Andrew Square, EH2 2YB. 2YB. EH2 Edinburgh Square, Andrew St 36 Office: Registered

Scotland plc. Registered in Scotland No. SC083026. No. Scotland in Registered plc. Scotland

of Bank Royal The of name business a is Company & Adam

NOTICE OF VARIATION