Processing Times. 6.1 We apply Cut-Off Times to receipt of Instructions to make payments, which are set out in our Products, Services & Fees Schedule. We may change these from time to time, and we will provide you an updated schedule if so. 6.2 If we receive them before the applicable Cut-Off Time, Instructions to make payments into or out of an Account received on a Business Day will be dealt with on that day, or in relation to payments in the Asia Pacific Currencies, on the next Business Day. 6.3 If we receive an Instruction after the applicable Cut-Off Time, or on a day that is not a Business Day, that Instruction will be dealt with on the next Business Day, or in relation to payments in the Asia Pacific Currencies, on the following Business Day. 6.4 Funds paid into an Account will be made available to you immediately after the payment is credited to an Account where the payment: (A) requires no Currency conversion; (B) involves one Currency conversion between Euro and Sterling; or (C) involves one Currency conversion between two EEA currencies; or (D) is a transfer between Accounts held with us, (E) in all other circumstances funds paid into an Account will be made available to you on the business day on which the payment is credited to an Account and the funds have been cleared. 6.5 All funds received in an Available Currency which is not the Available Currency of an Account that you have with us will be held in a “suspense account”. 6.6 You may ask us to open a new Account in the Available Currency of those funds. 6.7 If you do not ask us to open a new Account in that Available Currency within 48 hours of the funds being credited, we will: (A) convert the funds into the Reference Currency at the Rate of Exchange, rounded down to the nearest one-hundredth of a Currency Unit (or one whole Currency Unit in the case of Japanese Yen); and (B) then credit these funds to your Reference Account.
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Sources: Wealth Management Terms of Business, Wealth Management Terms of Business
Processing Times. 6.1 We apply Cut-Off Times to receipt of Instructions to make payments, which are set out in our Products, Services & Fees Schedule. We may change these from time to time, and we will provide you an updated schedule if so.
6.2 If we receive them before the applicable Cut-Off Time, Instructions to make payments into or out of an Account received on a Business Day will be dealt with on that day, or in relation to payments in the Asia Pacific Currencies, on the next Business Day.
6.3 If we receive an Instruction after the applicable Cut-Off Time, or on a day that is not a Business Day, that Instruction will be dealt with on the next Business Day, or in relation to payments in the Asia Pacific Currencies, on the following Business Day.
6.4 Funds paid into an Account will be made available to you immediately after the payment is credited to an Account where the payment:
(A) requires no Currency conversion;
(B) involves one Currency conversion between Euro and Sterling; or
(C) involves one Currency conversion between two EEA currencies; or
(D) is a transfer between Accounts held with us,
(ED) in all other circumstances funds paid into an Account will be made available to you on the business day on which the payment is credited to an Account and the funds have been cleared.
6.5 All funds received in an Available Currency which is not the Available Currency of an Account that you have with us will be held in a “suspense account”.
6.6 You may ask us to open a new Account in the Available Currency of those funds.
6.7 If you do not ask us to open a new Account in that Available Currency within 48 hours of the funds being credited, we will:
(A) convert the funds into the Reference Currency at the Rate of Exchange, rounded down to the nearest one-hundredth of a Currency Unit (or one whole Currency Unit in the case of Japanese Yen); and
(B) then credit these funds to your Reference Account.
Appears in 1 contract
Sources: Wealth Management Terms of Business