Core Terms PRIVATE CLIENT 234028395.indd 1 5/7/2021 4:44:30 PM Core Terms PRIVATE CLIENT Overview 1.4 If you do not have Sufficient Funds for a payment, ThesePrivate Client Core Terms form part of the we may treat a payment instruction as a request for Private Client Agreement between you (the client) an Unarranged Overdraft. and us (Coutts & Co). 1.5 If we allow the Unarranged Overdraft, you must: The following documents also form part of the Private Client Agreement: • repay the overdrawn amount on demand. • The Important Information booklet, which we • pay interest on the overdrawn amount at our have given you. Unarranged Borrowing Rate. • Our Private Client Banking Tariff (the Tariff) and 1.6 Our Unarranged Borrowing Rate, as detailed in the Interest Rates Notice, which we have given to you. Tariff, is set over the Coutts & Co Base Rate which • Each Application for an account, product or service. tracks the Bank of England Base Rate. We will • Any terms specific to an account, product or service. notify you of changes to the Coutts & Co Base Rate The Private Client Agreement Agreement( ) applies to by advertising the change after it comes into effect accounts, products and related services that we provide to you. in three national daily newspapers and on our If there is any conflict between any account, product or website coutts.com, or by telephone. We will also service specific terms and these Core Terms, the relevant display a notice of the change in our offices and account, product or service specific terms apply. branches. Interest is calculated on a daily basis Copies of all documents are available on request. and applied quarterly. These Core Terms apply from and including 13 January 2018. 1.7 If an Unarranged Overdraft is not allowed, we Any reference to a Business Day means a day on which will refuse the payment due to lack of funds. banks are generally open for business, excluding weekends and local public holidays. 1.8 The fact that an Unarranged Overdraft has been allowed, Any reference to cut-off times (after which any instruction does not mean that we will allow a future payment will be dealt with on the next Business Day) means despite lack of funds which would have the same effect London time. or that any arranged overdraft limit has changed. To obtain further information about an account or related service, you can contact us on +44 (0)20 7957 2424, visit 1.9 Details of all interest paid or charged by us and fees one of our offices, write to us at Coutts & Co, 440 Strand, and other charges relating to your account are in the London WC2R 0QS or use either our website (coutts.com) Tariff and our Interest Rates Notice. or our online banking service (the Online Service). 1.10 Your Current Account is an interest bearing account (this is applicable for both sterling and non-sterling 1. Account restrictions and Unarranged Overdrafts Current Accounts). 1.1 Accounts are available only to individuals and must not be used for business purposes. Please note there 2. Joint Accounts are minimum age restrictions on some accounts. For 2.1 With Joint Accounts, references to ‘you’ in the further information consult your private banker. Agreement include each account holder. 1.2 We may limit the number of accounts you can have 2.2 Any one of you can discuss the account with us or give in any one currency. instructions. If the account is not to work in this way, any one of you can tell us not to accept instructions 1.3 You can make payments from an account if there are from only one of you. In that case you won’t be able Sufficient Funds. Sufficient Funds means that either to make payments via card services, mobile banking the cleared balance or any arranged overdraft is or the Online Service as these services rely on enough to cover the payment. The fact that a balance instructions from one account holder only. is shown on a statement or transaction advice does not necessarily mean the funds are cleared. If you do not have Sufficient Funds to cover more than one payment, we may decide which payment(s) to make. 01 234028395.indd 2 5/7/2021 4:44:30 PM Core Terms 2.3 If we receive a request from you to remove an Account • by telephone; or holder(s) from a Joint Account, or to add an Account • by any other means we offer. holder(s) to a sole Account, we'll treat this as your 5.2 The time of an instruction is the time we receive it agreement to close your existing Account and we may open a new Account to accommodate the rather than the time you send it. However, if: circumstances of the Account ownership changes. • we receive an instruction after the relevant cut-off time or on a non-Business Day, the time of receipt 2.4 If one of you dies, we will accept instructions from the will be treated as the next Business Day. Some survivor(s), into whose name(s) the account will pass instructions may be processed on a non-Business and we may need to close your Account and open a Day. Details are available on request; new Account in the name(s) of the survivor(s). • the instruction is for a future dated payment or a SWIFT payment that specifies a value date, the 3. Giving us instructions time of receipt will be treated as the date of the 3.1 You can give us instructions, in a number of different payment (or if this is not a Business Day, the next ways, including by cash machine, by telephone, Business Day) or the Business Day we have to online, in one of our offices, or by any other means make the payment to achieve the value date; we tell you are available. • if we ask you to confirm an instruction, the 3.2 You can also give instructions through third parties time of receipt will be treated as the time of the whom you have authorised to act on your behalf, confirmation, or if this is after a cut-off time or for example, powers of attorney and third party on a non-Business Day, the next Business Day. providers (like account aggregator, or payment The Account Operations Schedule, at the end initiation services). of these Core Terms, explains in more detail the different payment instruction options available 4. Payments to an account and the cut-off and execution times. The fees for 4.1 The Account Operations Schedule, at the end of payments are detailed in the Tariff. these Core Terms, explains the different ways that 5.3 If you do not supply the correct account and receiving cash, electronic payments and cheques can be paid bank details (account number and sort code in the into an account and when the resulting funds will UK, or International Bank Account Number (IBAN) be available to be withdrawn. and (in some cases Bank Identifier Code (BIC) for 4.2 We may refuse to accept a payment into an account, overseas payments), even if the correct payee name and, if so, we will notify you and, where legally has been provided, the funds being transferred may possible, give the reasons for refusal and how to not be recoverable. We will make reasonable efforts to correct any errors. recover your payment. We may not be able to recover the payment and we may charge you a fee for trying. 4.3 We charge for collecting or negotiating a foreign If we are unable to recover the payment we won't currency cheque or one drawn on a non-UK bank. refund you, but you can write to us and ask for any 4.4 We may take a payment from your account if the relevant information which we hold regarding the payer’s bank tells us that this payment was sent to you payment to help you recover it. incorrectly. If this happens, we will hold the money 5.4 For CHAPS payments, you must provide the correct and contact you to tell you what has happened. We payee name that matches the account and receiving will ask you to confirm if the payment was sent to you bank details. incorrectly. If the payment was sent incorrectly then we will return it to the payer, but if you tell us that the 5.5 We do not guarantee: payment was not sent incorrectly then we will return • that you will always be able to make card payments the money to you and we may pass your contact details or obtain cash from a machine; onto the payer’s bank. If we can’t get in touch with you • the continuous availability of the Online Service within 15 business days, then we’ll return the payment or telephone services; to the payer. If the payment is a CHAPS payment we • the absence of losses or delays in the transmission may only take the payment from your account with of communications caused by any internet service your permission, but we may pass your contact details provider or other third party, or by software onto the payers bank. failure; or 4.5 In cases where funds have been received by you due to • the authenticity or integrity of email (and a system error (for example, duplication of payment), similar) communications. then we will have automatic right to debit your account.