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Royal Bank of Canada (Channel Islands) Limited

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Royal Bank of Canada (Channel Islands) Limited HNW_NRG_A_Bleed_Mask Royal Bank of Canada (Channel Islands) Limited General Terms and Conditions Effective date: 25 May 2018 Wealth Management Wealth Management | 2 Contents 1. Definitions and Interpretation 3 2. Introduction 4 3. General Information 4 4. The Account 6 5. Joint Accounts 9 6. Instructions 10 7. FX Transactions 12 8. Issue of Visa Debit Cards by The Bank 12 9. Issue of Credit/Charge Cards by Parties Other than The Bank 14 10. Client Representations and Warranties 14 11. Client Acknowledgements 15 12. Not Used 16 13. Confidentiality 16 14. Notices and Other Communication 16 15. Complaints 17 16. Severability 17 17. General 17 18. Exclusion of Supply of Goods and Services (Jersey) Law 2009 17 19. Force Majeure 17 20. Governing Law and Jurisdiction 18 21. Commissions 18 22. Investment Services 18 23-26. Additional Terms and Conditions Relating to Custodial Services 23 23. Custodial Services 23 24. Custodial Service (Miscellaneous) 24 25. Notices issued under the Companies Act of the United Kingdom and Analogous Legislation of Other Jurisdictions 27 26. Termination 27 27. Assignment 28 Wealth Management | 3 Terms and Conditions payments to third parties that are not directly related to the purchase of securities or any 1. Definitions and Interpretation other assets that are eligible to be held in 1.1 In these Terms, unless the context otherwise a Custody Account and such account is not requires: subject to the bare trust which otherwise applies to Property held under the Custodial Service); “Account” means any or all accounts which the Bank opens and maintains for you; “Client” or “you” means the person or persons signing the Application Form, including a “Agreement” means the Application Form, corporate body or partnership, and “your” shall these Terms and the General Banking Charges be construed accordingly; document and includes any variation of them and all documents entered into as supplemental “Custody Account” means an account opened to them; with the Bank to which Property held by the Bank under its Custodial Service is recorded; “Anti-Money Laundering Rules” means all the enactments and published regulatory “Custodial Services” means the two services requirements in relation to anti-money namely (i) the Custody Service and (ii) the laundering or countering the financing of Safekeeping Service, which are described in terrorism as passed or amended from time Clause 23 of these Terms; to time, as applicable to the location of the “Data Protection Laws” means the Data Account; Protection (Jersey) Law 2005 or the Data “Application Form” means the application form Protection (Bailiwick of Guernsey) Law 2001, as and/or any other forms or documents required amended, as applicable to the location of the by the Bank to be completed from time to time in Account; connection with the opening and operation of an “Dealing Service” means arranging deals in Account; investments and the other services described in “Associate” means and includes any company, Clause 22.2 hereof; which is directly, or indirectly, a wholly owned “Deposit Interest Rate sheet” means the subsidiary of Royal Bank of Canada; document issued from time to time by the “Authorised Person(s)” means the person(s) Bank and made available to the Client who are duly authorised by the Client pursuant (either upon request or by visiting www. to the Agreement or as confirmed by the Client rbcwealthmanagement.com) reflecting details of to the Bank in writing from time to time, to give (i) the latest interest rates that the Bank will pay Instructions in relation to the Account (either on the various types of accounts that are offered alone or jointly and in such circumstances as by the Bank; and (ii) any minimum balance specified by the Client) for and on behalf of the requirements or other conditions applicable to Client; specific types of accounts; “Bank” or “we” means Royal Bank of Canada “Designated Markets” means markets which (Channel Islands) Limited (a company have been identified as being high risk and incorporated in Guernsey and having its designated as Designated Markets by the registered office at Dorey Court, Admiral Park, Bank and specified in the Designated Markets St Peter Port, Guernsey) and any of its offices or Schedule as may be amended by the Bank from branches; time to time; “Card” means a Royal Bank of Canada (Channel “Designated Markets Schedule” means the Islands) Limited Visa Gold debit card (including schedule issued from time to time by the Bank any renewal or replacement Card); reflecting details of the markets which the Bank has identified as being high risk; “Cash Account” means (solely in the context of a Client using the Bank’s Custodial Service) “Facility Letter” means the letter in which the an account forming part of the Client’s Custody Bank specifies the terms and conditions that will Account that is used to hold cash in connection apply in the event that the Bank offers a loan or with the operation of the Custody Account and some other form of credit facility to the Client; to settle transactions and receive dividends and “Fee Schedule” means the schedule issued from other related payments. (For the avoidance of time to time to a Client reflecting details of the any doubt, a Cash Account is not a standard specific fees and charges that will apply to a bank account and cannot be used to make particular service that the Bank is prepared to Wealth Management | 4 provide to a Client; Bank from time to time; “Fixed Deposit” means a deposit placed for a “Structured Transaction” means a transaction specific period of time at a fixed rate of interest; such as a dual currency deposit that is offered by the Bank or a sister company from time to “Forward FX Transaction” means a foreign time that may involve a certain degree of risk exchange transaction for value seven days or and consequently may not be suitable for all more forward; Clients; “FX Transaction” means a foreign exchange “Transferred Permissible Commission” means transaction for value spot or less than seven the trail commission permitted in a transferring days forward; portfolio of investments as more fully described “General Banking Charges document” means in Clause 21; and the document issued from time to time by the “Valuation” means an asset listing or valuation Bank reflecting details of the Bank’s latest prepared by the Bank for a Client receiving schedule of general charges, and provided to Custodial Services. Clients; 1.2 In addition: “Instructions” means Instructions given to the Bank in accordance with Clause 6 of these i) words importing the singular shall include Terms; the plural and vice versa; “Investment Advice” has the meaning given to it ii) words importing a gender shall include all in Clause 22.1; genders; “Investment Services” means the investment iii) clause headings are used for services provided by the Bank to Clients, as convenience only and shall not affect the more fully described in Clause 22; interpretation hereof; “Literature” means any brochure or any other iv) references herein to these Terms, any literature describing any service provided by the agreement or document shall be deemed Bank, issued or supplemented from time to time to include references to such Terms, and provided to the Client; agreement or other document as varied, supplemented or replaced from time to “Permissible Commission” means any time; and commission (both initial and recurring) that is allowed by the applicable law, rules and v) references to a person include its regulations in Jersey or elsewhere; successors and assigns. “Property” means any securities or assets 2. Introduction which are held by the Bank as nominee and bare trustee for a Client using the Bank’s Custodial 2.1 These Terms and Conditions (the “Terms”) Services, other than cash or investment form part of your agreement with the Bank. contracts booked directly in the name of the You should carefully read and consider these Client; Terms before you complete the Application Form. Signature by you of the Application Form “Retailer” means a person who agrees, by confirms your acceptance of and agreement to arrangement with the Bank or Visa International these Terms. It is recommended that you retain a Service Association, to accept the Card as copy of these Terms for future reference. payment for goods, services or cash; 2.2 Some of the services described in these Terms “RBC” means and includes any company, which may not be available from both offices of the is directly, or indirectly a holding company, Bank. sister company, or subsidiary of the Bank and any company, which is directly, or indirectly 2.3 The Bank may also provide other services from a subsidiary of any such holding company or time to time that are subject to additional terms sister company and in this definition reference and conditions and/or separate documentation to “company”, “holding company”, “sister requirements. The Bank will notify you of company” or “subsidiary” shall be interpreted this and ask for your acceptance of any such as a reference to a corporate body wherever additional terms before the service is provided incorporated; to you. “service” or “services” means banking services 3. General Information or any other product or service offered by the Wealth Management | 5 3.1 Incorporation and regulatory status covered are available on the States of Jersey website www.gov.je/dcs or on i) The Bank is a company incorporated in request. For the avoidance of doubt, the Guernsey (registered company number Jersey Scheme is only applicable to Bank 3295) and has an office (including a deposits made by eligible depositors. branch) at Dorey Court, Admiral Park, St Investments are not covered by the Jersey Peter Port, Guernsey, GY1 3BQ and also Scheme.
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