Summary of changes to the terms and conditions for your online banking service

If there is a conflict between the Terms and Conditions and any separate terms and conditions relating to products and services we provide under the Service, the Terms and Conditions will prevail in respect of access to those products and the appointment of Primary Administrators and Permissions.

This is different to the Current Terms where an Account Authority applies and in the event of a conflict between the Current Terms and the Account Authority or any terms relating to your accounts with Lloyds Bank, the Current Terms prevail.

The Terms and Conditions govern your access to and use of the Service. You may access, view or operate an account or accounts held with other members of Lloyds Banking Group via the Service. If this is the case, any terms and conditions in place with other members of Lloyds Banking Group which relate to the Service will continue to apply and you are responsible for complying with them.

We will act as agent for the relevant account holding bank in respect of those accounts and online products. Our references to Accounts in the Terms and Conditions therefore refers to accounts held with us and those held with other members of Lloyds Banking Group and/or a third party.

Concept of Account Authority

We no longer refer to Account Authority. In your Current Terms, this refers to authority provided by you to Lloyds Bank to operate your Lloyds Bank accounts. Under clause 10.6 of the Terms and Conditions, you may need us to carry out certain tasks relating to the set up and operation of the Service on your behalf.

We will only act in accordance with your instructions in this regard and will not be responsible for any loss or damage caused in complying with your instructions.

Account

We have included a definition of Account to make it clear this covers accounts you can access, view or operate through the Service. This could be an account with Lloyds Bank, another member of Lloyds Banking Group or with a third party.

Administrators and Users

We have changed the terminology relating to Users. Where we previously defined various types of user such as Service Administrators, Authorised Users and Service Auditors, we now refer to Primary Administrators, Administrators and other Users. We have retained the concept of Permissions but this has changed.

All Users will be registered to use the Service and will be allocated specific Permissions by you depending on the type of User they are. The term Primary Administrators refers to Users appointed by you who can access all Users and the full range of our online products.

The term Administrators refers to Users appointed by Primary Administrators on your behalf to access specific accounts and specific Users.

An Administrator has a more limited range of powers than a Primary Administrator but can change and create Permissions for Users within their assigned groups. Our changes give you the flexibility to allocate bespoke Permissions to each User. There is no longer a distinct concept of self-approval.

Agreement

We have changed the definition of Agreement to reflect that all the terms and conditions about the Service are contained in these Terms and Conditions, except for other products and services that link to this Service which have their own terms and conditions. This is different to your Current Terms where your Agreement consisted of a wider range of documents. As a result, definitions and concepts such as Account Authority, Cash Management and Payments Application Form and Charges Brochure have been removed.

Compliance Obligations

We have introduced a definition of Compliance Obligations to reflect a change to the confidentiality obligations. Certain obligations will be placed on us to comply with various laws, regulatory requests and obligations contained under arrangements with other members of our group.

This means, we and other members of our group may need to disclose confidential information about you to ensure we meet these Compliance Obligations and to ensure we comply with our internal policies and procedures. This definition has been introduced so it is clear to you the circumstances in which we can disclose your confidential information.

Confidential Information

We have introduced a definition of Confidential Information so it is clear to both you and us what information we must retain as confidential.

Distance Contract

We have included a definition of Distance Contract so it is clear what this is. This is in addition to Clause 26.3 of the Terms and Conditions about circumstances where you will not be responsible for losses as a result of payment instructions.

Payment Instrument

We have replaced the definition of Payments Equipment with Payment Instrument and Service Equipment. These definitions make it clear to us and you what a Payment Instrument is when we refer to this throughout the Terms and Conditions. This could be a card, password or other security information for example.

They also differentiate between payment equipment and other equipment we may provide for you to use the Service. As a result, we no longer have definitions of Authenticator Card and Reader.

Products

We have included a definition of Products so it is clear to you what the Products provided by us include. This will include accounts, payment services and online services for example.

Security Device

We have introduced a definition of Security Device. This was included in the definition of Payments Equipment in your Current Terms. We have included this and Payment Instruments as separate definitions for clarity.

Security Devices may include hardware, software and any other items designed to help protect your online banking security.

Security Procedures

We have introduced a definition of Security Procedures to clarify what these include. Such references could be to Security Devices and the security information we provide to you. Previously the Security Procedures were found in the User Guide. Under the new Terms and Conditions, Security Procedures may be documented in a wider range of sources.

User Instructions

We have replaced the definition of Instructions with User Instructions. This now covers all instructions given by Users.

Interpretation

We have added wording to help you understand the way the Terms and Conditions should be interpreted.

Clause 3.2

As in your Current Terms, we can decide whether to provide you with specific Online Products at our discretion. We have included wording to clarify that we will not be responsible for any loss or damage caused as a result of our decision.

Clause 4.1

We have included wording to specify that any financial information we provide to you will be for your guidance only.

Clause 4.2

We have included wording to clarify that we will perform our obligations in accordance with the Terms and Conditions as long as this will not put us in breach of any applicable law.

Clause 4.3

We have included clause 4.3 so it is clear we will provide the Service to you as long as you comply with the terms and conditions set out in the Terms and Conditions.

Clause 5.1

We have included some additional responsibilities for you to ensure the data provided to us by your Users is accurate, their User profiles are up to date and that you remove redundant User profiles. This will help us ensure we maintain security.

Clause 5.3

If you or your Users access the Service from outside the United Kingdom, you are still obliged to comply with the laws and regulations of that country. We have expanded this obligation to ensure you comply with laws and regulations relating to the import and export of any Service Equipment.

In addition, we have included a right allowing us to prohibit the use of the Service Equipment in any country where we consider it may jeopardise us, you or the Service.

Clause 5.4

The Terms and Conditions allow us more flexibility to update security and Service Equipment as necessary to ensure a secure service for you. We have included a right allowing us to modify the Service Equipment or supply replacements for parts at any time and you are obliged to use the modified or replaced equipment without delay.

Clause 5.5

We have included wording to make it clear that any software we provide in our Service Equipment belongs to us and our licensors. If any defect appears in the Service Equipment, we will correct this as soon as is reasonable after you have told us in writing.

There will be no other remedy available to you in respect of such defects. We will let you know any hardware items or software products which you will require to ensure the service equipment can operate.

We cannot say our Service Equipment will operate in conjunction with any other hardware items or software products other than those we notify you of and will not be responsible if such equipment does not work in conjunction with other products and items.

Clause 6

We have included wording whereby you warrant to us that you will not be in breach of the rights of any third party in entering into and performing the Terms and Conditions.

Clause 7.3

As in your Current Terms, you are entitled to reject a change by writing to us and if you do, we will take this to mean you want to stop receiving the Service. The Service and your Terms and Conditions will terminate immediately without you incurring any charges.

Clause 7.4

We have included wording to clarify what is not a change and will not require us to give 2 months’ notice. Adding new services or products to the Terms and Conditions, adding ways that you can use the Service or Products or changing Security Procedures will not be considered a change and we are not obliged to provide 2 months’ notice.

Clause 8

Both you and us are under obligations of confidentiality in a similar way to your Current Terms. We have expanded these to specify the circumstances and to whom Confidential Information can be disclosed.

For example, this covers disclosure to employees to ensure compliance with the Terms and Conditions and disclosure to professional advisers. We have also explained what will not be considered to be Confidential Information. The confidentiality obligations will still stand after termination of the Terms and Conditions.

Under your Current Terms the confidentiality obligations only continued for five years following termination.

Clause 8.6 - 8.8

As in your Current Terms all Intellectual Property Rights will remain vested in us. We have defined Intellectual Property Rights to ensure there is clarity on what we own. We have included an obligation to ensure you and your Users take reasonable steps to protect our Intellectual Property Rights and proprietary information and notify us of any actual or potential infringement.

The Terms and Conditions include wording to ensure it is clear you cannot take copies of, sell, assign, lease or sub-license our Intellectual Property Rights.

Clause 9.1 - 9.2

Clause 9 provides you with guidance on how to set up and allocate Permissions to Users. It will be your responsibility to allocate and register Users and assign them with appropriate Permissions unless we have agreed to do this on your behalf.

Clause 9.3 - 9.4

In your Current Terms, the Service Administrators have a very specific and defined role. You are now able to allocate Permissions to your Users and define their role and powers accordingly. Your Primary Administrators will be responsible for registering Administrators and setting Permissions for them in a similar way to the Service Administrator under your Current Terms. Your Primary Administrators and Administrators will be able to register other Users and allocate Permissions to them.

Clause 9.5

We have included wording to make it clear that a User must be you or an individual employed by you or a member of your group under an employment contract or a contract for services. We may ask for evidence of this to ensure compliance with this provision.

Clause 9.6

Your Primary Administrator can add, delete and amend Users – you do not need to contact us. You do need to complete a form to add, delete, or amend a Primary Administrator.

Clause 9.7

We will require certain information from your Primary Administrators to ensure we can identify them. We will ask that each Primary Administrator signs a declaration which deals with their use of the Service and allows us to use data relating to them.

Clause 10.1

We can accept instructions from all Users if the instructions align with the Permissions allocated to them by you. We no longer need a completed Cash Management and Payments Application Form to provide the necessary authority. We have included a right allowing us to ask for verification for any instruction given to us by a User at any time but we are not obliged to do so. It is your responsibility to ensure that Users act within their Permissions.

Clause 10.3

As in your Current Terms, we can decline or delay processing any User Instructions at our discretion where the person providing the instructions has not been properly registered or their Permissions have not been properly allocated. In this case, we will not be responsible to you for any loss or damage caused as a result. This is similar to your Current Terms but the situations are different. We are no longer obliged to give you reasons why instructions have been declined within specific timescales.

Clause 10.8

We have included wording to specify that the content and accuracy of User Instructions will be your responsibility. This is to align with changes made to User Instructions that explain we can accept any instruction provided it is within a User’s Permissions.

Clause 10.10

As in your Current Terms, we can apply limits to User Instructions. Information about limits can be found on our website. Any limits will come into effect immediately after we apply them.

Clause 11.1

In future, we may require at least two Primary Administrators to approve User Permissions. We may allow exceptions to this rule only with our specific agreement. Please contact us if this will cause you a problem.

Clause 11.2

We have included wording to make it clear we may require more than one User to authorise an instruction. You can decide the number of Users required to approve particular transactions and we will not be obliged to execute instructions unless they are authorised by the relevant number of Users.

Clause 12.1

As in the Current Terms, we will specify the Security Procedures which you must follow from time to time and may make changes to these procedures and to our Terms and Conditions in connection with such changes. This may mean we will need you to enter in to additional or separate agreements in respect of such procedures.

Clause 12.2

We have introduced an obligation obliging you to ensure the competency, honesty and integrity of your Users and ensure the Security Procedures are known to the relevant Users.

Clause 12.4

We have included additional obligations on you to ensure we are taking all necessary precautions in relation to security. You are obliged to use all reasonable endeavours to ensure your Users do not disclose account details or give Security Devices to other persons. You must also ensure your Users choose security details which cannot be easily guessed and that all Security Devices and information are stored safely and disposed of securely. We ask that if you receive any financial information you are not expecting to receive from us, you tell us as soon as possible.

Clause 12.5

The Primary Administrator will be responsible for taking steps to cancel or suspend the access of a User and to contact us should they suspect that any security details or Security Devices have been lost or stolen or if they suspect that anyone is accessing the Service without appropriate authorisation or that any fraud is being committed.

Clause 12.6

To ensure the Service is secure, we have added an obligation where you must use reasonable endeavours to ensure that no one leaves computers or devices unattended or allows them to be accessed by others.

Clause 12.7

We have included an obligation where you must make all reasonable efforts to ensure your computer is free from viruses and is protected by virus protection software. This is to ensure the security of the Service and to ensure it is maintained in good working order.

Clause 12.8

We have included a right allowing us to automatically log a User out of the Service if they have been inactive for a period of time. We are entitled to determine that period. This is to ensure we maintain control of the security of the Service. We will not be responsible to you for any information lost as a result of the automatic log out.

Clause 12.10

We have included wording obliging you to assist in relation to the loss, theft or misuse of Security Devices or other Payment Instruments. We can disclose information relating to you to other financial institutions, authorities or the police in these circumstances.

Clause 13.1

The information on Charges for the Service is contained in the Tariff. We have introduced a definition of Tariff to clarify what this is, given that under the Current Terms, information on Charges is dealt with in the charges brochure. Should there be any disagreement about the Charges, the fees and Charges as set out in the Tariff shall apply.

Clause 13.5

We have included wording to clarify the position under the Payment Services Regulations 2009 (S.I. 2009/209). According to the Regulations, all domestic and cross border payments made within the EEA in an EEA currency that do not involve a currency conversion must be made on the basis that the person making the payment pays any charges levied by its bank or other financial institution and the person receiving payment pays any charges levied by its bank or other financial institution.

This is the position that we and you have been adopting. We have set this out to clarify the position and have included a right entitling us to alter payment instructions to ensure compliance with the Regulations in this regard.

Clause 14.1

This clause provides you with more detail about the Online Payment and Viewing Functions provided by the Service. The Online Payment and Viewing Functions are the same as your current functions so you can view balances and statements of accounts and transfer funds between accounts. These activities will all be governed by the relevant Permissions of Users.

Clause 14.2

As in your Current Terms, we act on instructions during specified times and specific cut-off times may therefore apply to the Online Payment and Viewing Functions. Such cut-off times will now be detailed on our Website and not in the User Guide.

Clause 14.6

We have added some wording to clarify that you will be responsible for updating the bank account and other details of any payment recipients. In relation to the Service, account numbers and sort codes of recipients are set up by you as templates and are under your control. We will not be responsible for updating them.

Clause 15.1

Similar to your Current Terms, we have included a clause to clarify that if you need to download third party software to access the Service, the use of that software may be subject to your acceptance of third party licence terms. If this is the case, such third party licence will confirm your rights and liabilities in relation to the use of that software. We do not give any warranty that such software is suitable for use with your computer system.

Clause 15.2

We have included clauses to make it clear that you are responsible for arranging access to the Service using the internet or other method of communication approved by us. We will inform you of the internet browsers the Service is designed to be accessed by. It will be your responsibility to comply with any specifications and technical requirements to access the Service. We will let you know what these are. You must ensure you have suitable contingency plans to cover any operating failures.

Clause 15.6

We have included a clause to make it clear that if you suspect or are aware of a failure, error, defect or corruption with the Service, you must contact us immediately and use best endeavours to help with any remedial steps we propose.

Clause 15.7

We will use cookies on our website so we can provide you with the Service. You will be able to switch off or opt out of using cookies. If you do, you may not be able to use certain features of our website and the Service and this will not be our responsibility.

Clause 16.1 - 16.2

We have included some clauses about the accuracy of account information or other information available using the Service. This information is for reference only and should not be relied upon as an accurate or up to date position at a particular time.

Clause 16.3

We have included a clause to clarify that any records of instructions and authorisations received by you and payment transactions that we complete will be conclusive evidence of such instructions and payments.

Clause 16.4

If you open new accounts, we will be entitled to notify the Primary Administrators of such accounts and make them available to the Primary Administrators so that appropriate Permissions can be allocated for these accounts.

Clause 17

We have included disclaimers about the Service as a reminder that we do not warrant uninterrupted or error free availability of the Service and that the use of the Service will meet general or particular requirements.

Clause 18 - 26

We have introduced a new section, clauses 18 to 26, to deal with payment instructions. These clauses are new to the Terms and Conditions and provide direction on how to issue payment instructions. We ask that you read these carefully.

Clause 18.1

This clause deals with the issuing of payment instructions to us and provides detail around your use of unique identifiers. The information we require is different. You are required to provide us with a correct unique identifier and all relevant information we require.

Any failure to do so may result in us being unable to process an instruction or payment failing to reach an intended recipient. We will not be responsible for any loss or damage you suffer as a result. It is your responsibility to check that unique identifier information which has been saved and is used for repeat payments is correct at the time of each payment instruction you give us.

This clause provides you with detail on what the unique identifiers will be if sterling payments or foreign currency payments are made into a sterling currency account in the UK and payments into accounts based outside the UK but within the EEA. The unique identifiers will be different for each scenario.

Clause 19.2

Clause 19 deals with providing and withdrawing consent for payments.

We have included wording to clarify the position with future payments. Where a User provides instruction for a payment to be made on a date or recurring dates in the future, we are authorised to process the payment provided that such instruction was within that User’s Permissions at the time of the instruction.

Clause 19.3

We have changed the position on withdrawal of consent for payments. Under the Terms and Conditions, once we receive your consent, you can only withdraw it where you have instructed us to make a series of recurring payments and provided that you give us notice no later than the end of the Business Day before the day such payment is due to be made. We will treat this as withdrawal of your consent in respect of all future payments in that series unless you tell us otherwise.

Once you have withdrawn your consent, we will not make the relevant payment and will have no liability to you for any loss or damage caused as a result of that payment not being made.

Clause 19.6

We have clarified the position on recall of payments. We will provide reasonable assistance to you in relation to the recall of payments but may not be able to recall such payment. We will have no responsibility to you for any loss or damage you may suffer if we are unable to do so.

Where we are able to recall a payment and that payment was in a different currency to the denomination of the account, we will return to you the equivalent amount in the currency in which your account is denominated. This amount will be calculated by us based on the exchange rate prevailing on the day the amount is credited to you.

Clause 19.8

We are entitled to charge you for revoking a payment order. Details of our standard charges can be found on our website.

Clause 20

We have included wording to clarify that, apart from future dated payments and recurring payments, we will treat payment instructions and the associated Permissions as being received at the time they are actually received by us and not at the time that you send such instructions to us.

Clause 21.3

We have included wording to clarify that we may not be able to process your payment instructions if the financial institution you are sending a payment to is not a member of the Faster Payments Service or if the payment amount exceeds the value limit for the Faster Payments Service. In this case, we will let you know so we can discuss alternative ways to make the payment. Charges may apply for these alternatives. In some circumstances we may not be able to make a payment at all and we will let you know if this is the case.

Clause 21.5

We have included wording to make it clear we are entitled to settle payments through such payment systems as we may decide in our sole discretion.

Clause 22

We have included a list of situations in which we can stop the use of a Payment Instrument. This may be due to the security of a Payment Instrument or where we suspect unauthorised or fraudulent use of a Payment Instrument as well as other circumstances which we have set out for clarity. If we have stopped or are going to stop the use of a Payment Instrument, we will tell you as soon as possible.

Clause 23

We have clarified what will happen if we incorrectly make or fail to make a payment instruction. If this occurs, we will refund the amount of the payment and return your account to the state it would be in had the payment not been made. We will only do this if the unique identifier provided by you was correct and if you tell us as soon as you become aware of the error, and in any event, within 13 months of the date the payment left your account. We may require certain information from you before we provide a refund.

Clause 25

This clause makes it clear when you will be entitled to a refund for an unauthorised transaction. If a payment transaction was not authorised by you, subject to any responsibility you may have as set out in the Terms and Conditions, we will refund the amount of the transaction to you together with any related interest and charges directly incurred by you provided that you have notified us without delay and in any event, within 13 months of the date the payment left your account.

In some circumstances, we might investigate whether you are entitled to a refund and may ask you to provide certain information to help us investigate. On some occasions, we may investigate following the refund. We are entitled to debit the refunded amount from your account if we later discover you were not entitled to it.

Clause 26

This clause specifies the circumstances where you will be liable if there is an unauthorised transaction on your account.

If you are a Micro-Enterprise and an unauthorised transaction occurs due to a lost or stolen Payment Instrument being used or misused because you have failed to keep the personalised security features safe, you will be liable for resulting losses incurred up to a maximum of £50 per instance of loss, theft or misuse.

If you are a Micro-Enterprise and have acted fraudulently, intentionally failed to, or with gross negligence failed to keep Payment Instruments safe, you will be responsible for all losses.

If you are not a Micro-Enterprise you will be liable for all losses in the circumstances set out above.

For all clients Micro-Enterprises and non Micro-Enterprises, unless you have acted fraudulently, you will not be responsible for any losses arising after you have notified us of the loss, theft or misuse of a Payment Instrument. In addition, you will not be responsible for any losses arising where we have not provided you with the means to tell us of any such loss, theft or misuse of Payment Instruments or if the Payment Instrument has been used in connection with a Distance Contract.

Clause 27.1

We have changed the process for deleting or suspending Users. Currently, it is the Service Administrators’ responsibility to delete or suspend Users and to let us know when this happens. This will now be your Primary Administrators’ responsibility. If you wish to suspend or delete a User and the Primary Administrator is unable to, for whatever reason, you must tell us immediately.

Clause 27.3

We have included a right allowing us to delete Users that have not used the Service for a period of time to ensure we maintain sufficient control over Users. We will provide you with reasonable notice before we delete Users.

Clause 27.4

We have included a right allowing us to carry out maintenance on the Service and ensure we maintain security. This means we can suspend the Service or suspend access to the Service for specific periods of time. This is similar to the position under your Current Terms.

We will let you know when we need to do this unless this would compromise security. We will let you know when the supply of the Service has resumed. We will not be able to process any User instructions deemed to be received by us during the period of suspension.

This will include any future dated payments due to be processed during the suspension period. We will let you know that we are unable to process any payment instructions in accordance with the terms relating to the specific Online Product.

Clause 27.5

We have included wording to clarify that if either you or we suspend or remove a User’s access, this will not take effect until the User logs out of the Service. We will comply with any User instructions given until the point that the User logs out. We cannot be liable for any actions of the User between the time we become aware a User will be suspended or removed and that User logging out.

Clause 28.1

You can terminate these Terms and Conditions by giving us notice. The notice period has changed to one month. If you wish to use your termination right, you must provide us with at least one months’ written notice.

Clause 28.2.2

We have included additional rights allowing us to terminate the Terms and Conditions as a result of your fault. These include rights to terminate if we suspect fraud, as a result of your failure to pay us, you causing damage to our reputation, your repeated breaches, your improper use of the Service as well as others.

Clause 28.3

As per your Current Terms, we are entitled to terminate the Terms and Conditions if you become Insolvent. We have included a definition of what we mean by Insolvent. The list is broader than in your Current Terms. We have included an obligation for you to notify us if insolvency occurs or you believe it will occur.

Clause 28.5

We have included a clause to set out the consequences of termination. If you stop receiving or we stop providing you with the Service and the Service is necessary to provide certain Online Products or other products, we may stop providing these to you. Any notice of termination from us will cover those other products and Online Products. Your terms and conditions relating to any terminated products will remain in place.

Clause 28.6

We have included a clause to clarify that if a sole account holder dies, the personal representative of that sole account holder may end the relationship between the account holder and us as long as we receive the required evidence.

Clause 28.7

We have clarified the position on what happens if a joint account holder dies. We may treat any survivors as having full power to carry on the relevant business unless we receive instructions to the contrary.

Clause 30

We have included wording to describe what happens if you cancel the Service or the relationship between us ends. We have set out those specific clauses of the Terms and Conditions that will remain in force. You are obliged to destroy any Security Devices. As per your Current Terms, you must pay to us any amounts owed to us. If we act upon instructions which were authorised by you before the date of closure of the Service, we will not be responsible for any loss or damage caused as a result.

Clause 31.1

We have included a clause to make it clear that where you are two or more persons, undertakings and responsibilities will be joint and several, meaning both such undertakings can be pursued in respect of any liability to us.

Clause 31.2

We still exclude our liability for various types of loss. We have changed the wording to specify the types of loss we exclude under the Terms and Conditions and to clarify that we are excluding all types of loss whether that is direct or indirect loss.

We have expanded the list of losses excluded to cover; loss of revenue, loss of production, loss of reputation, loss of opportunity, loss of anticipated savings, loss of margin, loss of bargain, costs relating to wasted managerial, operational or other time and claims made against you by third parties.

We exclude the direct element of all these types of losses including those losses we exclude under your Current Terms.

Clause 31.3

We have changed the liability clause on what we will be liable to you for. Under your Current Terms, we specified scenarios where our liability would be excluded. In addition, the positions for Micro-Enterprises and non Micro-Enterprises differed. Under the Terms and Conditions, we have one liability position.

We will have no liability to you in connection with your use of, access to or reliance upon the Service except in relation to any liability which we cannot exclude as a matter of law. This change does not impact any liability provisions set out in any terms and conditions that apply to you in respect of Online Products.

Clause 31.4

We have included wording to clarify that if you are a trustee or trustees acting on behalf of a trust, your responsibility to us will not exceed the value of the assets of such trust. This includes pension schemes.

Clause 31.7

You will be liable to us in respect of any losses, damages, liability, expenses or costs that we incur or suffer as a result of your access to and use of the Service or any breach of the Agreement. You will be liable to us on an indemnity basis in respect of such losses, damages, liability and expenses.

Clause 33.2

We have included wording to make it clear how responsibility is shared in relation to partnerships. Each partner will be separately responsible to us for all debts and obligations. If we need to take legal action against a partnership, we may take legal action against all or any of the partners.

Clause 33.3

We have included some wording to ensure it is clear how disputes between partnerships regarding accounts will be handled. In the event of such a dispute, we may require all partners to authorise transactions to be made out of any accounts until all partners agree how the partnership accounts are to be run.

Clause 33.4

We have included wording to ensure it is clear what will happen if we are owed money when a partner dies. Any surviving partners will remain separately responsible for paying any debts. We may also request payment from the deceased partner’s assets. The position is the same if a partner leaves the partnership in that each partner, including the partner who has left, will be separately responsible for any outstanding debts.

Clause 33.5

We have included wording obliging you to tell us immediately of any changes in a partnership. Any incoming partners must sign a confirmation of the existing authorised signatories to us in a form we may specify. We have included a right allowing us to complete any identification, background and other checks in relation to any incoming partners.

Clause 34.3

We have included wording to make it clear that we adhere to the British Bankers Association’s Lending Principles for Larger Businesses in respect of certain customers.

Clause 35

We have clarified how our complaints procedure works. As in your Current Terms, our complaints procedure can be found on our website. If you have a complaint, we have provided a list of people who you may write to or speak to in the first instance.

Clause 36

Your Current Terms are governed by the laws of England and Wales and the courts of England and Wales have exclusive jurisdiction to settle disputes.

This is the same for the Terms and Conditions unless, at the date the application form was signed, you are a company or other incorporated body and your registered office is in Scotland or you are a sole trader operating from Scotland or you are an unincorporated body and control is exercised from Scotland or you are a Scotland based charity.

In any of these scenarios, the Terms and Conditions will be governed by Scottish law and the courts of Scotland will have exclusive jurisdiction to settle disputes.

Clause 36.3

We have included a restriction preventing you from granting any security over any account with us unless this is in our favour.

Clause 36.5

We are no longer obliged to provide notice should we wish to assign our rights.

Clause 36.6

We have included an entire agreement clause to make it clear that the Terms and Conditions constitute the entire agreement made between you and us.

Clause 36.8

We have included a clause to clarify that the Service may be used in connection with joint accounts provided one of the account holders has authority to access and use the account and that this account holder applies to utilise the Service in accordance with the Terms and Conditions.

Clause 36.9

We have included wording to clarify that, if you are a financial institution, you cannot use the Service to make any payment in your name when acting as the payment service provider for a third party, unless we agree to it.

Clause 38

We have included a clause to clarify that you must notify us should your business experience financial difficulties.

Clause 39.2

We have changed the way we can give notices to you. We can now issue notices to you by post, telephone, email, via the Service or on our website.

Clause 39.3 - 39.4

We have included wording to clarify that we are only obliged to send one copy of a notice and where we send a notice to a Primary Administrator, this will be considered to be a notice sent to you.

Clause 39.6

We have included timescales within which notices will be deemed to be served. If a notice is sent by post and is not sent by special delivery or first class post, it will be deemed to be delivered on the fourth Business Day after posting rather than the fifth as in your Current Terms.

If a notice is sent outside the UK, this will be deemed to be delivered on the eighth Business Day after posting rather than the tenth as in your Current Terms. We have included wording to clarify that any notice sent by email before 4pm on a Business Day shall be deemed to be delivered that day. Any email sent after 4pm, will be deemed to be delivered on the next Business Day.

Clause 39.10

We may now communicate with each other by email but we will not accept any payment instructions by email or the service of any proceedings.

Clause 39.11

Given the introduction of email as an acceptable form of communication, we have included some restrictions around the use of email. We will not have any responsibility to you for failing to act on emails if they are unclear, if we doubt the validity of the email, if we are unable to receive it and/or the individual you have sent an email to is unavailable and this causes delay.

Clause 39.13

We have included an obligation on you to inform us as soon as possible if you undergo a name change, change to the nature of your business, change of address, change of phone number, change of email address, change of status as a Micro-Enterprise, change to directors or members, change to the structure of your business or change to the names of those appointed as signatories.

We no longer refer to the concept of Multibank Moneymover. Some of the principles remain the same in that we are able to disclose your information to other members of our group as necessary to provide the Service.

In your Current Terms, we specifically deal with the processing of your personal data. We no longer deal with such issues in the Terms and Conditions. Data privacy issues will now be dealt with on your application forms for the Service.