Account Basics Sample Clauses
The "Account Basics" clause defines the fundamental terms and conditions governing the creation, maintenance, and use of a user's account within a service or platform. It typically outlines requirements such as providing accurate personal information, maintaining account security, and adhering to eligibility criteria like age or residency. By establishing these baseline rules, the clause ensures that both the service provider and the user have a clear understanding of their responsibilities, thereby reducing misunderstandings and helping to prevent unauthorized access or misuse of accounts.
Account Basics. 1. Who is Eligible for an Account?
Account Basics. 16
A. Definitions Pertaining to This Section 16 B. Our Responsibility to Obtain Personal Information 16 C. Forms of Account Ownership 17 D. Administrators and Sub-User Administration 19 E. Additional Provisions Applicable Only to Business Customers 19
Account Basics. 1.1 To open an account you must be a member of Bristol Credit Union Ltd and a UK resident aged over 18.
1.2 This is a non-interest and non-dividend bearing account.
1.3 You must ensure that you have available money in your account at the beginning of each day to cover all that day’s transactions.
1.4 You agree that we may deduct from the balance of your account or debit the amount of any transaction or other amounts due from you under this agreement. We will do this (and you will be responsible to pay any such debits or deductions) even if: • the mobile payment device or PIN or internet banking is used in a way that is not authorised in this agreement • the debit is delayed • the debit will or may result in the account going overdrawn • the mobile payment device or PIN or internet banking is stopped, suspended or restricted • the agreement is varied or ended.
1.5 We will not provide statements showing the balance of your account or transactions on your account, unless specifically requested by you. You can view your balances, credits and transactions on-line through internet banking.
1.6 You must inform us as soon as possible of any incorrect item on your account.
1.7 We may decide not to accept a request to convert funds, a transaction or an application from you.
1.8 You must not overdraw your account.
1.9 Notices under this agreement, including variations to it or to the tariff will be sent by email to the email address we hold for you, unless otherwise provided in this agreement. Any email we send to you will be deemed to have been received and read by you 24 hours after we have sent it. It is your responsibility to make sure that we have your correct, up to date email address and that you frequently monitor your email account.
1.10 We will accept instructions for this account in accordance with the mandate you have provided to us when becoming a BCU member. However it is your responsibility to ensure that any internet banking transactions or transactions made using any mobile payment device are properly authorised, and you agree that we may treat any such transactions as being properly authorised in accordance with your mandate.
Account Basics. Eligibility To open a Tandem Account, you must: • be 18 or older; • be a UK resident, and have three years of address history in the UK; • give us details of a UK based current account as your linked current account. Your linked current account is the set of account details you provide when you open your Tandem Account. As part of the account opening process we will need to verify your identity. We may ask you to supply documents to confirm your identity and won’t be able to open your Tandem Account until they have been provided and your identity is fully verified. Paying into or from your Tandem Account There are a few rules about payments into and out of your Tandem Account: • You can save with regular payments or one-off payments into your Tandem Account; • You can only withdraw money by moving it into your linked current account; • If we think a payment to or from your Tandem Account might break any law, regulation or sanction we don’t have to accept or allow the payment and may delay processing the payment to allow us to conduct further checks; • We reserve the right to reverse a payment if we believe it has gone into the Tandem Account by mistake. Account limits The maximum balance you can hold in your Tandem Account is £250,000. If we change the limit in the future, we will give you at least 30 days’ notice before we do so. Using your Tandem Account You’ll be able to view your balance, any recent activity and the interest rate of your Tandem Account in the app. There’s more information about running your Tandem Account in the FAQ section of our website ▇▇▇.▇▇▇▇▇▇.▇▇.▇▇ and in the app, including: • how to make payments; • how long things take and time limits; • limits on what you can pay in and take out. Statements We’ll provide statements monthly, via the app. You can also request a statement - just call us on ▇▇▇▇ ▇▇▇ ▇▇▇▇.
Account Basics