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A Guide to Banking for Business Customers

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A Guide to Banking for Business Customers Powered By Docstoc
					A Guide to Banking for
Business Customers
Northern Ireland




                         1
Welcome to Bank of Ireland UK
This is an important document for all Bank of Ireland UK Business Customers in Northern Ireland. You should read it carefully and keep
it for future reference.

Our commitment to you
Understanding Business is our way of doing things. We’re a bank built on people, knowledge and great products. Understanding your
business, who you are, your goals, your business strategy is the foundation upon which we build our relationship with you. This is a
fundamental part of who we are. Without this understanding we’d just be another bank.
To find out more contact your Branch / Business Centre or Relationship Manager.
This booklet forms part of our account opening pack which consists of:
✔	 A Guide to Banking for Business Customers
✔	 Schedule of Charges Business Customers Northern Ireland
✔	 Rates and Products Guide
✔	 A Guide to the Lending Code for Micro-Enterprises
✔	 Transferring your Business Current Account




2
CONTENTS
Section 1:   Our Products & Services                    4
Section 2:   Additional Business Services               4
Section 3:   Bank of Ireland Financial Services         5
Section 4:   Your Borrowing Needs                       5
Section 5:   Financial Assessment, Security             5
             and Guarantees
Section 6:   Opening your Account                       6
Section 7:   How your Accounts at                       6
             Bank of Ireland UK work
Section 8:   Fax and Telephone Instructions             6
Section 9:   Notification of changes                    6
Section 10: Payments To / From Your Account             7
Section 11: Cheques                                     7
Section 12: Lodging through the Post Office®            8
Section 13: Automated Payments                          9
Section 14: Operation of your Account                   9
Section 15: Customer confidentiality                    9
Section 16: Protecting your Accounts                    9
Section 17: Moving your Account to Bank of Ireland UK   10
Section 18: Moving your Account to another bank         10
Section 19: Regulation                                  10
Section 20: Transaction Information Box                 12
Section 21: Terms and Conditions                        15




                                                         3
Section 1: Our Products & Services                                      1.3. Business Pay
                                                                        Business Pay is a fax based payment service which provides
1. Current Account Banking                                              a quick, secure and more cost effective way of making all your
We have a range of products and services that will give you             wage and salary payments.
control and flexibility to manage your day-to-day business and
cash flow requirements.                                                 2. Business Deposits
                                                                        We offer several business deposit products including:
1.1. Business ATM Card
The Business ATM card provides customers with easy access               •	   Flexible instant access reserve Account(s) providing interest
to funds 24 / 365 from ATM machines in the UK displaying                     on your surplus funds. These are available through Business
                                                                             on Line and allow you to transfer funds online.
the LINK symbol and also from Bank of Ireland Group ATM
machines in the Republic of Ireland. Up to 99 cards may be              •	   Fixed Term Deposits which pay a fixed rate of interest linked
issued on your Business Current Account. The standard limit set              to the London Money Markets. Deposits are made for a pre-
on each card is £750, though a higher or lower limit can be set if           determined period between 1 and 12 months.
considered appropriate.
                                                                        3. Cooling-off period
If you live in the Republic of Ireland and have a cash card,
                                                                        If you want to cancel an account within the 14 day cooling-off period
a combined cash and cheque guarantee card or a Maestro
                                                                        you should contact your branch or business centre in writing.
card with your account you may be liable for the annual Irish
Government Stamp Duty if the card is used at any time during the        When you cancel an account in the cooling-off period we will give
year.                                                                   you all your money back with any interest it has earned. We will
                                                                        ignore any notice period and any extra charges. Any amounts
We will debit the Sterling equivalent of this Duty directly from your
                                                                        owing to us by you (i.e. any service charges e.g. overdraft) will
account.
                                                                        have to be paid back to us.
You can find more information of this click on the Irish Tax &
                                                                        If you want to close your account after the cooling-off period you
Customs: www.revenue.ie/en/tax/stamp-duty/leaflets/stamp-
                                                                        may be charged.
duty-financial-cards
                                                                        Refer to our Schedule of Charges flyer for a full list of service
1.2. Business On Line™ (Internet Banking)                               charges.
Business On Line gives you direct, real-time access to your Bank
of Ireland UK Business Accounts any time of the day or night,
365 days a year. It allows you to do this wherever you are in the       Section 2: Additional Business Services
world, provided you have access to a suitable internet-enabled          We go that extra mile to bring you additional services and support
computer. Standard transaction charges apply.                           to enable you to focus on building a better business and grow
Business On Line lets you directly manage the most important day-       into new markets.
to-day aspects of your business banking. This means you can:
                                                                        2.1. Electronic Card Payment Services
•	   View all balances and transactions on your Accounts held           Through Elavon, we provide you with the very latest Card
     at any branch in the UK and Ireland. (The Account balance          Payment Processing, which makes it easy to collect payments
     is quoted as at close of business on the previous banking          online from your customers, helping you manage your cash flow.
     day. In the case of retail Accounts, items which have been
     presented on the banking day of access are also shown for          2.2. Global Expertise
     information purposes.) This includes view-only access to
                                                                        If you want to reach into Global markets, we offer free
     your Bank of Ireland UK Credit Card Account
                                                                        consultation on a wide range of International import / export
•	   Transfer funds between your Accounts held at Bank of               banking. We focus on competitive pricing and first-class service.
     Ireland UK branches                                                Our clients appreciate the flexibility and fast response we provide,
•	   Make payments from Sterling and Foreign Currency                   which helps them to manage their businesses more effectively.
     Accounts held at Bank of Ireland UK                                Working in partnership, we will help you to stay focused on
                                                                        your business while we take care of your treasury and risk
•	   Pay groups of employees / suppliers
                                                                        management needs.
•	   Make International Payments from your Sterling or Foreign
     Currency Account (same day and forward date)                       2.2.1. Transfer of monies to / from abroad
                                                                        If money is transferred to you by Telegraphic Transfer, either in
•	   Make Same Day Money Transfers (CHAPS Payments)
                                                                        Sterling or in a Foreign Currency, we will tell you what the original
•	   View Standing Orders                                               amount was, any charges that you may have paid, the Value Date
•	   Create and print reports on your Accounts                          we will apply to it and when it was sent. We will also tell you the
                                                                        exchange rate applied if it was converted to a different Currency and
•	   Export balances and transaction information to external            whether any charges were incurred.
     software packages such as Excel.
                                                                        If money is transferred by Telegraphic Transfer from your Account,
As Business On Line is very straightforward, you and your               either in Sterling or in a Foreign Currency, we will tell you what the
staff will need a minimal amount of training, which is provided         original amount was, when it was sent and what sender charges
free of charge.                                                         apply. If you have agreed to pay beneficiary charges, we will tell
Business On Line is extremely flexible, allowing for grouping of        you about them when the beneficiary bank confirms the charges
Accounts and allocation of access levels across your business           to us. We will also tell you the exchange rate applied if it was
to reflect how you normally operate. These groups can consist           converted to a different Currency.
of different Accounts held at different branches within Bank            For some payments within the EU / EEA, transaction charges
of Ireland UK or they can reflect the different functions of your       relating to TelegraphicTransfer (TT) payments must be shared
business such as Sales and Purchasing and can even be                   between the payer and payee.
grouped to reflect the appropriate signing authority.



4
Section 3: Bank of Ireland Financial                                    4.4. Enterprise Finance Guarantee
Services                                                                Bank of Ireland UK is a participating lender in the Enterprise
                                                                        Finance Guarantee, a government loan guarantee scheme aimed
Good Financial advice from an experienced, well informed adviser can    at supporting the availability of working capital and investment
help you save money, secure your future and offer peace of mind.        funding for small and medium sized businesses in the UK.
We offer whole of market advice through Bank of Ireland Financial       Information regarding its eligibility criteria and the purpose for
Services which is a trading name for Bank of Ireland Trustee Co Ltd,    which the scheme may be used, are available from any of the
authorised and regulated by the Financial Services Authority (FSA) in   bank’s Branches or Business Centres.
respect of Investment and Insurance mediation activity.
                                                                        4.5. Other Funding Requirements
                                                                        In addition to our usual overdraft and lending services, we also
Section 4: Your Borrowing Needs                                         underwrite potential liabilities to third parties such as Performance
4.1. Current Account Overdraft                                          Bonds, Guarantees, Letters of Credit. For detailed information,
Overdraft facilities are negotiated in advance and we offer             please contact your Relationship / Commercial Manager.
competitive interest rates. The overdraft is usually subject to         4.6. Commercial Mortgages
a Set Up Fee, with subsequent Annual Review Fees both are
                                                                        Commercial mortgages are designed to help businesses
negotiable at Branch / Relationship / Commercial Manager level.
                                                                        acquire freehold or long leasehold premises for owner use and
Always operate your Account within the authorised overdraft             occupation. We can provide your business with a loan to enable
limit. If you know that it is likely to be exceeded, even for just      you to purchase premises from which to run your business.
1 day, discuss a temporary or permanent increase of your
                                                                        We offer:
overdraft with your Relationship / Commercial Manager in
advance. We will Charge fees and additional interest to your            •	   Competitive Rates - Fixed rate or variable rate loans. Interest
Account at the prevailing rates if you exceed your authorised                calculated at a variable rate is usually linked to 3 month LIBOR
limit. We may also refuse to make a payment from your account           •	   Flexible Payments - We offer flexible payment terms of up
if you have insufficient funds available in your account. The                to 20 years with repayments calculated to cover capital and
current rates of interest and fees for unauthorised overdrafts               interest throughout the period of the loan. We can also factor
are set out in our Schedule of Charges and also in our Rates                 in interest only / capital repayment holiday periods in some
and Products brochure.                                                       circumstances.

4.2. Visa Business Card                                                 4.7. Invoice Discounting
The Bank of Ireland UK Visa Business Card is a dedicated                Invoice Discounting allows you to release the value of funds tied
business expense management solution which simplifies and               up in invoices outstanding by converting trade debts into cash.
streamlines regular or occasional business expenses. Your               It can be confidential or disclosed to your customers and can
employees can use it for their business expenditure or it can           operate on a recourse or non-recourse basis and include cash
be used for specific spend such as office stationery, insurance         flow protection and sales ledger management.
premiums or other occasional office purchases.
                                                                        4.8. Asset Finance
Some of the advantages include:                                         We have a range of asset based products which can help you to
•	   A single payment in full each month                                replace assets or enable you to grow. It’s an ideal way to finance
                                                                        the purchase of cars, commercial vehicles, printing presses,
•	   Ease of payment by Direct Debit
                                                                        machine tools and contractors’ plant because making payments
•	   Provides extensive comprehensive travel insurance for              over time spreads out the impact on your capital or cash flow.
     you and your staff, and even covers up to 3 travelling
     companions
•	   Individual credit limits can be set
                                                                        Section 5: Financial Assessment,
•	   Monthly detailed individual and company statements
                                                                        Security and Guarantees
                                                                        Before we lend you any money, or increase your overdraft or
•	   Accepted at over 25 million outlets                                borrowing limit, we will assess whether we think you will be able
•	   Saves time and simplifies completing expenses claims.              to repay it. Before we provide you with merchant services, we will
                                                                        assess whether we are able to meet your card-processing needs.
4.3. Business Loan (Term Loan)
                                                                        This assessment will probably include looking at the following:
A Term Loan is a way to finance items of capital expenditure that
your business may need. It can be used in conjunction with other        •	   Information you give us, including information to prove your
lending products such as an overdraft or as a stand-alone source             identity and why you want to borrow the money or use
of finance for a diverse range of business purposes including                merchant services
acquisitions, working capital, business expansion or property           •	   Your business plan and Accounts
investment.
                                                                        •	   Your business cash flow, profitability and existing financial
A Term Loan will provide you with more structured longer term                commitments
finance over an agreed term, normally up to 10 years, though this
                                                                        •	   Any personal financial commitments which may affect the
will depend on the life span of the asset being financed. The rates          business
are variable and will fluctuate in line with market interest rates.
Fixed rate loans are also available to which specific terms and         •	   How you have handled your finances in the past
conditions will apply.                                                  •	   Information we get from credit reference agencies and, with
                                                                             your permission, others, such as other lenders
Flexible repayment options exist allowing you to structure your
repayments monthly, quarterly, half-yearly and annually by prior        •	   Credit assessment techniques such as credit scoring
agreement. Lending criteria terms and conditions apply.
                                                                        •	   Any security provided.
                                                                        If we are not able to help you, we will explain why, if you ask us to.

                                                                                                                                                 5
Before you accept the facility we will agree with you what sort of      If we cannot do so electronically, we may require you to provide
monitoring information we will need and how often you should            us with proof of identity and permanent address. We will do
provide it.                                                             this by asking you to supply us with photographic evidence of
                                                                        identity and evidence of address. Even if you are a long standing
We will write to you, setting out our agreement for our benefit and
                                                                        customer and wish to open additional Accounts, we are required
yours, and to avoid the possibility of misunderstandings in the
                                                                        to carry out identity checks where we have not already done so
future. What is appropriate will vary from case to case and we will
                                                                        or where we may need to update documentation and customer
make our needs clear.
                                                                        information.
Examples of the information we may need:
                                                                        6.2. Banker’s References
•	   A comparison of the forecasts in your business plan with           When you open your first Account with us, we may ask for a
     actual results
                                                                        previous banker’s reference.
•	   Progress on important parts of your business plan such as
     renewing contracts                                                 If we are asked to give a banker’s reference about you, we will
                                                                        need your written permission before we can give it. The written
•	   Revised cash flow forecasts                                        reply we give is an opinion based on our knowledge of you and
•	   Major capital spending proposals                                   your financial affairs. It is not a guarantee for which we can be
                                                                        responsible.
•	   Annual Accounts and Management Accounts
•	   Details of how much you owe to creditors, and you are owed
     by debtors, and for how long                                       Section 7: How your Accounts at
•	   Proof that you are meeting any special terms agreed                Bank of Ireland UK work
     between us.                                                        At Bank of Ireland UK, our Relationship Managers and Customer
                                                                        Service staff are contactable between 9.00a.m. to 5.00p.m.
If your circumstances change, we will discuss any new
                                                                        Monday to Friday (excluding Bank / Public Holidays).
information we will need from you.
We will recommend that you get independent advice before                7.1. How to contact us
accepting any facility.
                                                                        •	   Internet Banking - www.boi-bol.com
5.1. Security
If we ask you for security to support your borrowing or other           •	   Telephone Banking - call 08457 365 555
liabilities, we will tell you why we need this security and we          •	   Branch / Business Centre between - 9.30am to 4.30pm
will confirm what we need in writing. We will make sure that
any documents are easy to understand by avoiding technical
language whenever possible. We will make sure that you have the         Section 8: Fax and Telephone
opportunity to discuss with us anything you are not sure about.         Instructions
You should read the documents carefully and feel free to ask us         Bank of Ireland UK is a leading provider of electronic banking
questions and get independent advice, particularly if you are not       services. We recommend you use Business On Line. This is the
sure about your liability. By law, you and we must keep to the          most secure method of viewing transactional banking information
responsibilities set out in the documents, and you should only          and effecting payments. Should you wish to receive additional
sign them if you understand what you are doing.                         information on Business On Line, or to transact business with us
                                                                        by way of telephone or facsimile instructions, please advise your
If you ask us, we will tell you under what circumstances we will
                                                                        local branch or business centre.
agree to release the security.

5.1.1 Guarantees and other security from another person
We may agree to accept security provided by another person to
                                                                        Section 9: Notification of changes
support your business liabilities. If you wish some-one to act as       You must advise us in writing of any changes to your name,
a guarantor or provide security for your facilities this will mean we   corporate status, registered office / trading address and your
may provide confidential financial information to that person or to     telephone number. You must also notify us in writing of changes
their legal adviser.                                                    in your directors, members, partners, beneficial owners, trustees
                                                                        or equivalent governing body, in accordance with your Mandate.
5.2. Legal Fees
                                                                        9.1. Fees and Charges
Any legal valuation or other fees and out-of-pocket expenses
incurred in connection with any facility provided / to be provided      When you become a customer we will give you details of any
by us will be payable by you on receipt of our advice(s).               charges that will apply to your Account. If we increase any of
                                                                        these charges we will contact you at least 60 days before the
                                                                        Charge takes effect. We will tell you the Charge for any service or
Section 6: Opening your Account                                         product not listed in the Schedule of Charges before we provide
                                                                        that service or product and at any time you ask.
To open an Account at a Bank of Ireland UK branch,
simply complete the application form.                                   9.2. Interest
6.1. Confirming your Identity and Address                               When you become a customer we will give you information on
                                                                        the interest rates that will apply to your Accounts and when we
As with all other financial institutions, we are legally required to
                                                                        will deduct interest or pay it to you. Information on the most up to
identify our customers. In order to comply with these obligations,
                                                                        date interest rates is available by calling your branch or visit
before your account is opened, we will seek proof of the identities
                                                                        www.bankofireland.co.uk/business
and evidence of addresses of the individuals who own & manage
the entity and those who operate account(s) for the entity. Where       If you ask us, we will give you a full explanation of how we work
possible, we will use electronic verification processes via a credit    out interest.
reference agency and a record of such usage will be created.


6
9.2.1 Interest rate changes                                                   Direct Debits are protected under the Direct Debit Guarantee
                                                                              Scheme which protects you if a Direct Debit you have not
Sometimes rates are ‘fixed’ and will not change for the fixed
                                                                              authorised is taken from your Account. If any money is wrongly
period which we agree with you in advance; other times they are
                                                                              taken from your Account under a Direct Debit by the Originator or
variable. Where appropriate, interest rates may be changed with
                                                                              us, we will refund your Account as soon as you tell us about it.
immediate effect.
The reason for such change may be one or more of, but shall not               10.4. Recurring Transactions
be limited to, the following reasons: to reflect general changes              This is another form of regular payment an originator collects
in interest rates, to respond to the actions of our competitors,              from your debit card account.
to reflect fluctuations in markets, to ensure that we are able to             To cancel a recurring transaction you must contact the
secure income which is adequate to ensure that we meet the                    originator. We recommend that you keep proof of cancellation
requirement of any regulatory body and have sufficient resources              for your records.
to support our business in the interests of all our customers.
                                                                              This type of payment is not covered by the Direct Debit
Individual notification will be dependent on the type of account              Guarantee Scheme.
you hold, this is detailed in the Account Terms and Conditions.
When we change the interest rates on your Accounts, we will
update the information available in our branches / business                   Section 11: Cheques
centres and on our website within 3 working days. We will                     You must sign cheques in accordance with your most recent
place notices in newspapers usually in The Irish News, Belfast                Mandate, otherwise they may not be paid and you will have to
Telegraph, and Newsletter.                                                    pay a fee (an unpaid Charge).

To help you compare rates more easily, the old rate will also be              Before you write a cheque, you should ensure you have sufficient
shown on our website and newspaper notices.                                   cleared funds or sufficient overdraft permission in your Account to
                                                                              meet the cheque.
9.3. Pre-notification
                                                                              Cheques drawn on your Account may not be returned to you
You will be notified, at least 14 days in advance, of any service
                                                                              after they have been paid.
charges and interest, for example interest on your overdraft, to
be applied to your Account. For further information, ask at your              We keep original cheques paid from your Account, or copies,
branch / business centre for our leaflet Schedule of Charges                  for at least 6 years unless we have already returned these to you
Business Customers Northern Ireland.                                          under special arrangements.
9.4. Statements                                                               We can give you a copy of a cheque if you need it, but there is
Your statement will give you an item by item record of every                  a Fee for this service. Please see our Schedule of Charges for
transaction on your Account. It will be sent directly to your                 details. If, within a reasonable period after an entry has been
address and will usually be issued monthly or quarterly according             made, there is a dispute with us about a cheque paid from your
to the type of Account, or otherwise as you require. You may ask              Account, we will give you a copy of the cheque as evidence. If
for statements to be sent more frequently than monthly, but this              there is unreasonable delay after you have told us about it, we will
may attract a fee. Please see our Schedule of Charges for details.            re-credit your Account with the amount of the cheque until we
                                                                              have resolved the matter.
The frequency of statements on our savings Accounts are set out
in the Specific Terms. You should always check your statements. If            Security of cheques lodged by post cannot be guaranteed.
your statement has an entry which seems to be wrong, you should
                                                                              11.1. Stopped cheques
tell us as soon as possible so that we can investigate it for you.
                                                                              After you have given someone a cheque, you can ask us not to
                                                                              pay it, provided we have not already paid it. A stop should also be
Section 10: Payments To / From Your                                           placed immediately on any cheque that is lost or stolen. You can
                                                                              place a stop in several ways:
Account
                                                                              •	   You may write to us;
10.1. Lodgement
We will only accept cheques for Lodgement if the payee is                     •	   You may call into your branch and sign a stop request;
the same as the account name and you complete a separate                      •	   If you have given us a Telephone or Facsimile Authority &
lodgement slip at your branch.                                                     Indemnity you can also place a stop by faxing or by phoning
                                                                                   your Relationship / Commercial Manager or branch.
10.2. Standing Orders
A standing order is a written instruction from you to pay a fixed             If you decide to stop a cheque you must give us as much notice
amount from your Account at regular intervals (weekly, monthly,               as possible as a cheque cannot be stopped once it has been paid.
quarterly, annually). The recipient Account may be anywhere in                Full details of our charges are available in our Schedule of Charges.
the UK. It is a useful way to make regular fixed sum payments                 11.2. Unpaid cheques
such as rent or loan repayments. To cancel or amend the
                                                                              A cheque issued by you may be returned unpaid unless there
instruction you must advise us in writing. The instruction must be
                                                                              are sufficient cleared funds in your Account or you have sufficient
received by us at any time prior to the date of payment.
                                                                              overdraft permission when the cheque is presented for payment
10.3. Direct Debits                                                           from your Account. A Charge will be payable.
A Direct Debit is different to a standing order because you authorise         11.3. Crossed cheques
someone else (“the Originator”) to debit your Account. The amount
                                                                              Bank of Ireland UK cheques are crossed. Where a cheque is
can vary each time if necessary. It is a very convenient way to take
                                                                              crossed ‘Account Payee’ this means that the cheque is only valid
care of regular payments like telephone, gas or electricity bills. If there
                                                                              between you and the payee i.e. the person to whom you issued
is a change in the amount to be debited, the Originator will advise
                                                                              the cheque.
you of this in advance. You may cancel a Direct Debit at any time up
to the date of payment. If you want to stop a Direct Debit you must           ‘Account Payee’ cheques are designed to prevent fraud. Please
write to the Originator and to us also.                                       be aware that the protection offered by the “Account Payee”

                                                                                                                                                      7
crossing (and other crossings) may not be recognised in other            Glossary of Terms - Some words used in explaining
countries, hence cheques issued to persons outside the UK may            the Clearing Cycle have certain meanings:
not be treated in the same way. You should clearly write the name
of the payee and put extra information about them on the cheque
e.g. Account Number / reference.                                          Business Day               Any day from Monday to Friday,
                                                                                                     excluding Bank Holidays (English
11.4. Post-dated cheques                                                                             Bank Holidays to apply in England
You must not issue post-dated cheques. If you put a future date on                                   and Wales; Scottish Bank Holidays to
a cheque we may still pay it before the date on the cheque. If this                                  apply in Scotland; Northern Irish Bank
happens, we will not pay you for any loss that you suffer as a result.                               Holidays to apply in Northern Ireland).

11.5. Out-of-date cheques                                                 Credit Transfer            A paper payment to an account from
                                                                                                     another bank or branch.
If the date on a cheque is more than 6 months old, it may be
returned unpaid.                                                          Day 1                      The day that the account is updated
                                                                                                     with the proceeds of the cheque. This
11.6 Cheques for special presentations
                                                                                                     can also be referred to as Transaction
If you’re the beneficiary (i.e. payee) of a cheque and you wish to                                   Day or T Day.
know as soon as possible whether it will be paid, you can ask us to
present the cheque specially. We will then send the cheque first-         Drawn                      Payable from the bank where the
class post directly to the paying bank, contacting them by phone                                     person or business that issued the
on the following working day to confirm whether it will be paid. Full                                cheque holds their account.
details of our charges are available in our Schedule of Charges flyer.
                                                                          Lodgement                  A payment into an account. A
11.7. The Clearing Cycle                                                                             lodgement can be made up of cash
                                                                                                     and or cheques.
This relates to Sterling cheques lodged within the UK. Refer to the
branch for the process that applies to Foreign Cheques.                   Payee                      The person or business that a cheque
If you lodge a cheque into your account at your own Branch                                           is payable to.
it will be shown on your bank statement on the same day                   Value or Value Date        The time from which credit interest,
(Day 1). However, we have to collect the payment from the                                            if applicable, is received or balances
person / business who issued you with the cheque - This is                                           are reduced for debit interest
known as “clearing the cheque.”                                                                      calculation. If you withdraw funds
                                                                                                     before value clearance you will be
11.8. Same branch Cheques
                                                                                                     charged debit interest.
If you lodge a cheque that is drawn on the same branch as you
hold your account you will get value on the same day (Day 1).             Draw out                   When funds lodged by cheque are
                                                                                                     available for withdrawal from (to be
You will be able to draw out against cheques lodged 2 business                                       taken out of) the account (either as
days later on Day 3 however if a cheque is returned to us unpaid,                                    cash or to fund another payment
this can take up to 6 Business Days (Day 7).                                                         from the account). The ability to draw
                                                                                                     out is subject to the overall status of
11.9. Cheques of other Bank of Ireland UK Branch in NI
                                                                                                     the account (e.g. the balance after
Value is passed on your Account the business day after you make                                      the withdrawal remains within an
the lodgement i.e. on Day 2.                                                                         agreed overdraft limit). Also there
You will be able to draw out against cheques lodged 4 business                                       may be value limits on the amounts
days later on Day 5 however if a cheque is returned to us unpaid,                                    that may be withdrawn by particular
this can take up to 6 Business Days (Day 7).                                                         methods (e.g. a daily limit on the
                                                                                                     value of ATM withdrawals).
11.10. Cheques of other Bank of Ireland UK branch in GB
or NI / GB Bank
Value is passed on your Account 2 business days after you
                                                                         Section 12: Lodging through the
make the lodgement i.e. on Day 3.                                        Post Office®
You will be able to draw out against cheques lodged 4 business           12.1. Automated lodgements
days later on Day 5 however if a cheque is returned to us unpaid,        A cash lodgement made at the Post Office® using your ATM
this can take up to 6 Business Days (Day 7).                             card before 4.30pm on a Business Day will be credited to your
                                                                         Account on the same Business Day. Lodgements made after
11.11. Credit Transfers                                                  4.30pm, or on a Saturday, will be credited to your Account on the
Where you make a lodgement (credit transfer) at another Branch           following Business Day.
or Bank it takes at least 1 additional Business Day to get to your
Account. Value is passed to you on the business day after the            12.2. Manual Lodgements
lodgement is shown on your Account.                                      A cash lodgement made to your Account using a lodgement
                                                                         slip through the Post Office® is delivered to the Bank through
You will be able to draw out against cheques lodged 4 business           the Post Office® internal delivery systems on the following
days after the account is updated i.e. on Day 5 however if a             Business Day when it is credited to your Account.
cheque is returned to us unpaid, this can take up to 6 Business
Days after the lodgement appears on your Account.                        Cheque lodgements made through the Post Office® are
                                                                         delivered to the Bank for processing through the Post Office®
11.12. Cheques that you write on your Account - Accounts                 internal delivery systems on the following Business Day. The
held in England, Wales, Scotland and NI                                  clearing cycle above is therefore extended by 1 Business
When you write a cheque it is possible that the funds could be           Day. (You must be registered for this service.)
taken from your account on the same day if the account of the
                                                                         Delays in Post Office® delivery service may result in a manual
payee is held in the same Bank and branch as your account or the
                                                                         lodgement being received after this time.
next day if the payee’s account is held in another Bank or branch.
8
Section 13: Automated Payments                                              transactions will only be authorised if they are signed by all
                                                                            directors, members, trustees or governors.
13.1. Automated payments to other Banks / Debits from
other Banks (including Online / Telephone transactions)                In relation to all other Account Holders:
Payments made through BACS are transferred direct to the               •	   If we are advised of a dispute between the representatives of
payees’ bank Accounts. Similarly, in the case of Direct Debits,             the Account holder and/or the Account signatories, we will
payments are collected directly from them. The cycle for BACS               suspend the operation of your Mandate until all parties who
payments is as follows:                                                     we are aware of and who have an interest in the Account
                                                                            confirm that the dispute is resolved or until you give us a
•	   Business Day 1 - Customer / Originator transmits automated             new Mandate signed by all such parties. Whilst a Mandate
     data (payment or payment request)                                      is suspended, transactions will only be authorised if they are
                                                                            signed by all parties.
•	   Business Day 2 - All data accepted by BACS is processed
•	   Business Day 3 - Funds are debited to customer account /
     credited to destination Bank Accounts.                            Section 15: Customer confidentiality
Payments may take longer than 3 working days through some              Your relationship with us is a confidential matter (even when you
financial institutions.                                                are no longer a customer). We will not reveal your name and
                                                                       address or details about your Account to anyone, other than in
Payments made over the phone and over the internet are debited         the following 4 exceptional cases:
from your account on the date of instruction and credited to the
payees’ Account as above.                                              1.   If we have to give the information by law;
                                                                       2.   If there is a duty to the public to reveal the information;
13.2. Internal Automated Payments (including Online /
Telephone transactions)                                                3.   If it is in our interests to give the information (excluding
Payments to another Bank of Ireland UK Account made over the                marketing purposes); or
phone or online are debited from your Account(s) on the date of        4.   If you ask us to give the information or if you give us
instruction and credited to the payee’s account immediately.                permission.
                                                                       Telephone calls maybe recorded for training purposes.
Section 14: Operation of your Account
You must operate your Account in accordance with the most              Section 16: Protecting your Accounts
recent Mandate that you give us. The terms of your Mandate are
                                                                       The care of your cheque book, Business ATM Card, password(s),
in addition to our Terms and Conditions, as are the terms of any
                                                                       PIN and other security information is essential to prevent fraud
overdraft we agree with you in writing.
                                                                       and protect your Account. To help prevent fraud and protect your
Banking instructions or transactions received by us after close        Account you should:
of business on any Business Day will be processed on the next          •	   Let us know as soon as possible when you change your
Business Day.                                                               name, address, phone number, or email address
Wherever a Fixed Term Deposit Account is held on a joint basis         •	   Check your statement or pass book regularly. If there is an
between 2 or more parties, if for any reason, the first-named               entry which seems to be wrong, you should tell us as soon
Account holder ceases to be party to the Account, the Account               as possible so that we can resolve it
will be closed and a new Fixed Term Deposit Account may be
                                                                       •	   Sign your card as soon as you receive it
opened in the name of the remaining Account Holder(s).
                                                                       •	   Ensure your cheque book and card are not kept together.
If you are a Sole Trader:                                                   The cheque book and card should not be left in unattended
•	   If you die, your Account will be operated on the instructions          premises or vehicles
     of your personal representative(s). If you have authorised a      •	   Always take reasonable steps to keep you card safe and PIN
     third party to sign instructions on your Account under your            secret at all times. You must not tell your PIN to anyone or let
     Mandate, after your death the third party will not be able to          anyone else use the card
     carry on giving instructions in accordance with the Mandate.
                                                                       •	   If you write down your PIN try to record it in a way that will
If you are a Partnership:                                                   not be recognised by others
•	   In the event that there is a dispute between the partners and     •	   Destroy the notification of your pin as soon as you receive it
     we are told about it, we will suspend the operation of your
     Mandate until all partners confirm that the dispute is resolved   •	   Keep your transaction receipts safe and dispose of them
     or until you give us a new Mandate signed by all partners.             carefully
     Whilst a Mandate is suspended, transactions will only be          •	   If you change your PIN, you should choose your new PIN
     authorised if they are signed by all partners.                         carefully.
•	   The liability of each partner is joint and several. This means    Online banking is safe and convenient as long as you take a
     that partners are liable together but also as individuals
                                                                       number of simple precautions. Please make sure that you follow
     for all monies due or liabilities incurred in the name of the
     partnership.                                                      the advice given below:
                                                                       •	   Keep your PC secure. Use up-to-date anti-virus and spyware
If you are a Company, Limited Liability Partnership, Trust, School,
                                                                            software and a personal firewall
Club or other Association:
                                                                       •	   Keep your password and PINs secret
•	   In the event that there is a dispute between the directors,
     members, trustees or other governing board (whichever             •	   Treat emails you receive with caution and be wary of emails
     applies) and we are told about it, we will suspend the                 or calls asking you to reveal any personal security details.
     operation of your Mandate until all directors, members,                Neither the police nor we will ever contact you to ask you
     trustees or governors confirm that the dispute is resolved             to reveal your online banking or payment card PINs, or your
     or until you give us a new Mandate pursuant to a board                 password information.
     resolution agreed at a meeting of the directors, members,
     trustees or governors. Whilst a Mandate is suspended,             Always access our internet banking site by typing the address

                                                                                                                                             9
 into your web browser. Never access any banking site from a             we will agree with you and your new bank the date when your
 link in an email and then enter personal details. Additional advice     new Account will be ready for use.
 on online banking security is available from the British Bankers
                                                                         If you ask us to, we will provide details of your credit history with
 Association websites and www.banksafeonline.org.uk.
                                                                         us to your new bank.
 It is essential that you tell us as soon as you can if you suspect or
                                                                         We will not impose bank charges as a result of any mistake
 discover that:
                                                                         or unnecessary delays by us when you transfer your current
 •	   Your cheque book has been misused, lost or stolen;                 Account to or from us.
 •	   Someone else knows your passwords, PIN or other security           18.1. Closing Your Account
      information.
                                                                         You must give us written notice if you wish to close your Account.
 If your ATM card has been lost or stolen or someone else knows
                                                                         Your Account will not be closed until you have;
 your PIN, or personal security information, you must call our 24
 hour emergency number 0845 309 8099.                                    •	   Returned all unused cheques
 Unless we can show that you have acted fraudulently or with             •	   Returned all unused Visa Business Cards
 gross negligence, your liability for the misuse of your card will be    •	   Completed all outstanding transactions and paid any
 limited as follows:                                                          outstanding interest and charges.
 •	   If someone else uses your card before you tell us it has been
                                                                         18.1.1 Exceptional Circumstances to Closing Your Account
      lost or stolen or that someone else knows your PIN, the most
      you will have to pay is £50                                        Unless there are exceptional circumstances, such as suspected
                                                                         fraud, we will not close your Account without giving you at least
 •	   If someone else uses your card details without your                30 days’ notice. We have the right to close your Account if you
      permission and your card has not been lost or stolen, you
                                                                         fail to observe any of the Terms and Conditions that apply to the
      will not have to pay anything
                                                                         Account, or if you fail to repay money when due, or if you or any
 •	   If someone else uses your card details without your                party to the Account becomes insolvent.
      permission for a transaction where the cardholder does not
      need to be present, you will not have to pay anything              If we give you notice that we are closing your Account, any
                                                                         overdraft facility will be withdrawn and we will demand immediate
 •	   If your card is used before you have received it, you will not
                                                                         repayment of outstanding borrowings. Interest will accumulate on
      have to pay anything.
                                                                         any outstanding borrowings.
                                                                         If full repayment or satisfactory proposals are not received within
 Section 17: Moving your Account to                                      30 days of making a demand for full repayment, we may disclose
 Bank of Ireland UK                                                      information concerning your payment record and default to Credit
 If you would like to transfer your current Account to us from           Reference Agencies. Before giving information about the debts
 another financial institution, we will manage the Account transfer      you owe us to Credit Reference Agencies, we will give you at
 process on your behalf to minimise any inconvenience to you.            least 28 days written notice.
 Once we receive your completed transfer documentation our
 team will:
                                                                         Section 19: Regulation
 •	   Contact your existing bank for details of electronic payments      Bank of Ireland UK is a trading name of Bank of Ireland (UK) plc
      and receipts within 3 working days of receiving your
                                                                         which is authorised and regulated by the Financial Services Authority.
      instruction. Your former bank should return this information
      to us within 3 working days of receiving our request               Registered in England and Wales (No. 7022885), Bow Bells House,
                                                                         1 Bread Street, London, EC4M 9BE. Bank of Ireland UK subscribes
 •	   Confirm with you the payments and receipts to be transferred       to the Lending Code.
 •	   Write to each company with your new Account details. We
                                                                         19.1. Complaints
      will do this as soon as we receive details of payments from
      your former bank and confirmation from you                         At Bank of Ireland UK we aim to provide a first class service.
                                                                         However, we do realise that at times we may not meet the high
 •	   Instruct your former bank to close your Account and inform         standards you have come to expect from us. Contact your
      you when the transfer is complete. This will include the
                                                                         Relationship Manager or Customer Service Manager directly,
      transfer of any balance remaining in your former Account.
                                                                         they will be pleased to help you and explain our complaints
 Whilst awaiting your payment details, we will open your new             procedure in more detail. A copy of our Complaints procedure is
 Current Account and undertake to provide you with all the               available on request. Our aim is to try and resolve your complaint
 services you need to operate the Account within 10 days                 straightaway. Often however, complaints need to be investigated
 of completing your application (subject to our receipt of all           further. If this is the case, we will write to you within 3-5 working
 necessary documentation).                                               days to acknowledge receipt of your complaint and tell you how
                                                                         long we expect it will take to resolve.

 Section 18: Moving your Account to                                      In the majority of cases, we would hope to be able to resolve
                                                                         your complaint within 2 weeks. In exceptional circumstances
 another bank                                                            where your complaint is particularly complex, matters may take
 If you decide to move your Account to another bank or building          longer to resolve. We will, however, keep you informed with any
 society, we will give your new bank information on your Standing        progress until your complaint has been resolved. However, if you
 Orders and Direct Debits within 3 Business days of receiving your       are not satisfied with our action or explanation you can refer your
 request to do this.                                                     complaint in writing to:
 We will close the Account without any unnecessary delay when            Customer Care Manager, Bank of Ireland, New Century House,
 you ask us to do so.                                                    Lower Mayor Street, Dublin 1.
 We will co-operate with your new bank and aim to make sure              Complaints we cannot settle may be referred by you to the
 that your new Account is up and running within 5 working days           Financial Ombudsman Service.
 (unless you are borrowing from us). If you are borrowing from us,
10
19.2. Payment Services Regulations 2009
You are also able to contact the Financial Services Authority if you
think that we may have broken the Payment Services Regulations
2009. You can contact the FSA by writing to The Financial
Services Authority, 25 The North Colonnade, Canary Wharf,
London, E14 5HS. The FSA will use this information to inform its
regulatory activities.

19.3. Financial Ombudsman Service
Bank of Ireland UK is covered by the Financial Ombudsman
Service.
You can contact the Ombudsman at:
South Quay Plaza, 183 Marsh Wall, Docklands, London E14 9SR.
0845 080 1800 www.financial-ombudsman.org.uk

19.4. Credit Facilities
All credit facilities are subject to status. Written quotations are
available on request. Credit facilities are not available to persons
under 18 years of age.

19.5. Important information about compensation
arrangements
We are covered by the Financial Services Compensation Scheme
(FSCS). The FSCS can pay compensation to depositors if a
bank is unable to meet its financial obligations. Most depositors -
including most individuals and small businesses - are covered by
the scheme.
In respect of deposits, an eligible depositor is entitled to claim
up to £85,000. For joint accounts each account holder is treated
as having a claim in respect of their share so, for a joint account
held by two eligible depositors, the maximum amount that could
be claimed would be £85,000 each (making a total of £170,000).
The £85,000 limit relates to the combined amount in all the
eligible depositor’s accounts with the bank, including their share
of any joint account, and not to each separate account.
For further information about the scheme (including the amounts
covered and eligibility to claim) please ask at your local branch,
refer to the FSCS website www.fscs.org.uk or call 0207 892
7300.

19.6 Financial Services and Markets Act 2000
None of the savings and investments which are governed by
these Terms and Conditions are designated investments as
defined by the Financial Services and Markets Act 2000 and the
Financial Services Authority Handbook of Rules and Guidance.

19.7. Advertising and Marketing
We will ensure that all our advertising and promotional material is
clear, fair, and not misleading. We will not send marketing material
indiscriminately and, in particular, we will be selective and careful
if you are under 18 years old or where material relates to loans
and overdrafts.




                                                                        11
12
      Section 20: Transaction Information Box


      Payment Service     Account types               Authorisation required1                Cancelling a transaction              Processing times2                    Cut-off times for receipt of          Limits4
                                                                                                                                                                        instructions3
      Business ATM        Current Accounts            Use of correct PIN with Business       Once the withdrawal has been          Debited from your available          You can carry out this type of     A daily limit of £750 will
      Cash Withdrawals                                ATM Card.                              made, you cannot cancel it.           balance immediately.                 transaction 24 hours a day and     apply unless otherwise
                                                                                                                                                                        during Post Office® opening hours. specified. ATM providers
                                                                                                                                                                                                           may apply additional limits
                                                                                                                                                                                                           to transactions.
      Direct Debits       Current Accounts            To set up a Direct Debit on your       You can cancel a Direct Debit         The amount of each Direct Debit      Not applicable                        No limits apply
                                                      Account, you must complete an          payment at any time up to and         payment will be debited from your
                                                      agreement with the originator. The     including the due date. To cancel     available balance immediately on
                                                      originator will require your Account   this type of transaction, you         demand. The originator’s bank will
                                                      number and sort code to process        must contact the Bank and the         receive the payment on the same
                                                      the transaction.                       originator.                           working day as the debit date.
      Standing Orders     Current Accounts            To set up a Standing Order on          You can cancel a Standing Order       The amount of each Standing          Your instruction to set up a          No limits apply
                          Specific Savings Accounts   your Account, we will require:         payment (by writing to us) at any     Order payment will be debited        Standing Order payment should
                                                      (1) your Account number and            time before the end of the working    from your available balance          be received by us two working
                                                      sort code; (2) the payee’s name,       day preceding the date on which       immediately. The payee’s bank        days prior to the 1st payment due
                                                      account number and sort code;          the funds are debited from your       will receive the payment on the      date.
                                                      (3) a reference, if applicable, to     Account.                              same day if their account is in
                                                      identify the payment; (4) amount                                             Bank of Ireland UK. Otherwise
                                                      and frequency of payment,                                                    the payee’s bank will receive the
                                                      and (5) your authority to make                                               payment on debit date + three
                                                      the payment by submitting a                                                  working days5.
                                                      completed standing order request
                                                      form (from your branch).
      Telegraphic         Current Accounts            To make a CHAPS payment on             You are not entitled to cancel this   The amount of the CHAPS              If we receive your instructions       No limits apply
      transfers (CHAPS)   Savings Account             your Account, we will require: (1)     payment.                              payment will be debited from your    before 11.30am we can make the
      from your account                               your IBAN (2) the payee’s name,                                              available balance immediately.       payment on the same working
      (Stg only)                                      address, and bank account details                                            The payee’s bank will receive the    day. Instructions received after
                                                      - number, sort code, name and                                                payment on the same working day      the specified cut-off time, will be
                                                      address; (3) an optional reference                                           on which the payment is made.        processed on the next working
                                                      to identify the payment; and (4)                                                                                  day.
                                                      your authorisation to make the
                                                      payment (either in writing or
                                                      through our Business On Line
                                                      service).
      Telegraphic         Current Accounts            None                                   You are not entitled to cancel this   The amount of the payment will       If we receive the instruction from    No limits apply
      transfers (CHAPS)   Savings Accounts                                                   transaction.                          be credited to your account on the   the paying bank before 3.30pm,
      into your account                                                                                                            day we receive it from the paying    we can make the payment on the
      (Stg only)                                                                                                                   bank.                                same working day. Instructions
                                                                                                                                                                        received after 3.30pm will be
                                                                                                                                                                        processed on the next working
                                                                                                                                                                        day.




     12
      Section 20: Transaction Information Box continued
      Payment Service      Account types      Authorisation required1              Cancelling a transaction              Processing times2                      Cut-off times for receipt of         Limits4
                                                                                                                                                                instructions3
      International        Current Accounts   To make a Telegraphic Transfer       Once the transaction has been         The amount of the International        If we receive your instructions      No limits apply
      Payments             Savings Accounts   on your Account, we will require:    made you cannot cancel it.            Payment will be debited from your      before 12 noon we can make the
      outwards (Stg/                          (1) your IBAN (2) the payee’s                                              available balance immediately.         payment on the same working
      Euro/EEA State                          name and bank details – IBAN,                                              The transferred funds will be          day. Instructions received after
      currencies only)                        bank name and address ; (3)                                                received by the payee’s Bank on        the specified cut-off time will be
                                              your authorisation to make the                                             debit date + three working days5.      processed on the next working
                                              payment (either in writing or                                                                                     day.
                                              through Business On Line service).
      International        Current Accounts   None                                 You are not entitled to cancel this   The amount of the payment will         If we receive the instruction        No limits apply
      Payments inwards     Savings Accounts                                        transaction.                          be credited to your account on the     before 2.00pm, we can make the
      (Stg/Euro/EEA                                                                                                      day we receive it from the paying      payment on the same working
      State currencies                                                                                                   bank or the value date stated by       day. Instructions received after
      only)                                                                                                              the paying bank.                       2.00pm will be processed on the
                                                                                                                                                                next working day.
      Cash lodgements      Current Accounts   To make a lodgement to another       Once a lodgement has been made        To a Bank of Ireland UK account:       If we receive your instructions      A limit of £25,000 applies.
      to another account   Savings Accounts   account, we will require: (1)        you cannot cancel it.                 The lodgement will be received by      before 4.30pm, we can make the
      (Stg cash only                          payee’s name, account number                                               the payee on the same working          lodgement on the same working
      within the UK6)                         and sort code; (2) an optional                                             day. Cash must be lodged               day. Lodgements received after
                                              reference to identify the payment                                          separately in order to achieve this.   4.30pm will be processed on the
                                              may also apply.                                                                                                   next working day.
                                                                                                                         To another Bank:                       If we receive your instructions      A limit of £25,000 applies.
                                                                                                                         The lodgement will be received by      before 4.30pm, the lodgement
                                                                                                                         the payee on the processing date       will be processed on the same
                                                                                                                         + three working days5.                 working day. Lodgements
                                                                                                                                                                received after 4.30pm will be
                                                                                                                                                                processed on the next working
                                                                                                                                                                day.
      Online transfers     Current Accounts   To make a transfer to another        Once a transfer has been made         To a Bank of Ireland UK account:       If we receive your instructions      No limits apply
                           Savings Accounts   account, we will require: (1) your   you cannot cancel it.                 The amount of the transfer will        before 5pm, the transfer will be
                                              account number and sort code;                                              be debited from your available         processed on the same working
                                              (2) the payee’s name, account        Future payments requested on          balance immediately or on              day. Instructions received after
                                              number and sort code; (3) an         line, may be cancelled up until one   the date specified for future          5pm will be processed on the next
                                              optional reference to identify       working day before the payment        payments. The transferred funds        working day.
                                              the payment; and (4) your            is due.                               will be received by the payee on
                                              authorisation to make the transfer                                         the same working day.
                                              (either in writing or through
                                                                                                                         To another Bank:                       If we receive your instructions      No limits apply
                                              Business On Line service).
                                                                                                                         The amount of the transfer will        before 5pm, the transfer will be
                                                                                                                         be debited from your available         processed on the same working
                                                                                                                         balance immediately or on              day. Instructions received after
                                                                                                                         the date specified for future          5pm will be processed on the next
                                                                                                                         payments. The transferred funds        working day.
                                                                                                                         will be received by the payee on
                                                                                                                         debit date + three working days5.




13
     13
14
      Section 20: Transaction Information Box continued

          Payment Service        Account types                    Authorisation required1              Cancelling a transaction            Processing times2                    Cut-off times for receipt of          Limits4
                                                                                                                                                                                instructions3
          DD origination         Business Current                 To collect a DD into your Account,   You may cancel the transaction up   The payer’s account will be          DD files can be input until 5.00pm    There are no limits on the
                                 Accounts                         you will need to be sponsored into   to two working days in advance of   debited and the originator’s         on Day 1 of the BACS cycle via        number or value of DD’s
                                                                  the UK DD                            the debit/credit date.              account will be credited on the      Business On Line.                     you can collect on your
                                                                  Origination Scheme                                                       same working day (Day 3 of the                                             account.
                                                                                                                                           BACS cycle).
          Cash Deposits          Current Accounts                 Use of pre-printed lodgement slip    Once the deposit has been made,     If the funds are paid in before      You can only carry out this type of   Maximum £20,000.
          at Post Office®        Savings Accounts                                                      you cannot cancel it.               4.30pm on a Bank of Ireland UK       transaction during Post Office®       Amounts greater than
          Counters using                                                                                                                   working day, we will credit your     opening hours.                        £10,000 can only be
          Lodgement Book                                                                                                                   Account (1) that working day                                               deposited at a pre-agreed
                                                                                                                                           (2) the next Bank of Ireland UK                                            Post Office® outlet.
                                                                                                                                           working day. If the funds are paid
                                                                                                                                           in after 4.30pm, the processing
                                                                                                                                           will take an additional Bank of
                                                                                                                                           Ireland UK working day.
          Cash Withdrawals       Current Accounts                 Use of correct PIN with Business     Once the withdrawal has been        Debited from your available          You can only carry out this type of   A daily limit of £500 will
          at Post Office®        Savings Accounts                 ATM Card                             made, you cannot cancel it.         balance immediately.                 transaction during Post Office®       apply unless otherwise
          Counters                                                                                                                                                              opening hours.                        specified.




      1
        Authorisation required - if any payment details are incorrect, the transaction may
        not be processed within the timeframes detailed.
      2
        We will (1) stop paying credit interest and/or (2) stop charging debit interest, on
        the amount of the transaction, from the working day on which the transaction is
        processed
      3
        Cut-off times – other cut-off times may apply for specific customers.
      4
        Limits - other limits may apply for specific customers.
      5
        From 1st Jan 2012 this will be debit date/processing date + 1 working day
      6
        Lodgements and transfers to another Bank of Ireland UK account - the facility
        to lodge cash across jurisdiction has been withdrawn between Bank of Ireland UK
        to Bank of Ireland ROI branches.
      Cheques and drafts are excluded from The Payments Services Order 2009.
      Transactions will only be processed where there is a sufficient available balance.




     14
Section 21: Terms and Conditions                                    “Lodgement” means any payment into your Account either
                                                                    by cash, cheque, draft, CHAPS, Telegraphic Transfer, Standing
These Terms and Conditions apply to each of the following types     Order, BACS, or via transfer from another Account
of accounts that we operate in Northern Ireland - our Business
Current Account and our Business Savings Accounts (namely our       “Linked Service Account” or “LSA” means an existing or new
Premium Business Reserve Account, 90 Day Account and Fixed          current or deposit Account you hold with us or alternatively an
Term Deposit Account as they may be amended or replaced from        account you hold with another financial institution
time to time) and our Business Loan Account. These Terms and
                                                                    “Mandate” means the written authority you give us authorising
Conditions also apply when you request a telegraphic transfer or
                                                                    the conduct of your Account
a CHAPS payment.
                                                                    “PIN” means Personal Identification Number -a confidential
These Terms and Conditions should be read in conjunction
                                                                    number which we give to you or you may choose that allows you
with Sections 1 to 20 of this brochure ”A Guide to Banking for
                                                                    to withdraw cash with your Business ATM Card
Business Customers”, our application and Mandate forms and
our Schedule of Charges for Business Customers. Please ensure       “Standard Charging Quarter” means a period of typically
that you have read and understood them.                             90 days usually ending around the beginning of March, June,
                                                                    September and December
Specific terms and conditions apply to each type of business
account and are set out in these Terms and Conditions. Accounts     “Standing Order” means a written instruction from you to pay
operated using a Business ATM Card, Business On Line                a fixed amount from your Account at regular intervals (weekly,
and Business Pay are subject to separate additional terms &         monthly, quarterly, annually)
conditions. If you have any queries please contact your branch.
                                                                    “Surcharge Interest Rate” means an interest Charge that will
Our range of Business Accounts are available to all business        be made in addition to either the agreed Overdraft Rate or the
customers e.g. Sole Traders, Limited and Unlimited Companies,       Unauthorised Overdraft Rate (as appropriate) where an overdraft
Limited Liability Partnerships, Partnerships, Trusts, Schools,      permission is exceeded or an Account is overdrawn without prior
Charities and Clubs.                                                agreement. Please refer to our Rates and Products guide for
                                                                    details
Definitions
For the purposes of these Terms and Conditions, please note that    “Telegraphic Transfer” means an electronic transfer of funds to
reference to :                                                      a beneficiary in another bank

“Account Holder”, “you”, “your” or “the Customer” means the         “Unauthorised Overdraft Rate” means an interest Charge that
person, company, partnership or other business entity in whose      will be made where your Account is overdrawn without prior
name the Account is held                                            agreement. It will apply to the amount by which the Account is
                                                                    overdrawn and in addition to the Surcharge Interest Rate. Please
“Account” means any Business Current Account and/or                 refer to our Schedule of Charges for Business Customers for
Business Savings Account and/or Business Loan Account that          details
you may hold with us (not including accounts in currency other
than sterling and accounts held with Bank of Ireland Global         “Withdrawal” means where funds are taken out of your Account
Markets)                                                            either by Telegraphic Transfer, draft, cheque or cash, by electronic
                                                                    debit or via transfer into another account
“Agreement” means the agreement between you and us, of
which these Terms and Conditions form part                          General

“ATM” means an Automated Teller Machine which is a cash
dispenser at which you can access services and money using a        1.   Where we have used words incorporating the plural they also
Business ATM Card and PIN                                                include the singular (and vice versa). Headings used in these
                                                                         Terms and Conditions are for convenience only.
“BACS” means the Bankers Automated Clearing System which
is an automated method for making many types of corporate           2.   We will not be liable to you for any loss whatsoever if:
payments and collections                                                 •	   we are prevented from providing relevant banking
                                                                              or other services by reason of strikes, acts of
“Bank of Ireland UK”, “Bank”, “we”, “us” or “our” means the                   terrorism, industrial action, failure of power supplies,
Bank of Ireland (UK) plc or a reference to the Bank                           telecommunications or other equipment that we do
“Business Day” means any day from Monday to Friday                            not own, manage or control or other circumstances
                                                                              outside our control or the control of our agents or
(excluding bank holidays that apply in Northern Ireland)
                                                                              subcontractors.
“Business ATM Card” means a card we may issue to you with                •	   we delay or fail to carry out transactions if we consider it
your Account for withdrawing funds from an ATM                                in our interests to do so having regard to the laws of all
“CHAPS” means the Clearing House Automated Payments                           the jurisdictions in which we operate.
system for processing same day sterling payments within the UK      3.   Any notice we give you shall be deemed to have been
                                                                         received by you in the case of a letter when delivered
“Charge” means any fee or charge that you have to pay referred           personally, or 48 hours after it has been sent by post to
to in these Terms and Conditions and/or set out in our Schedule          you at the last address given by you to the Bank, or in the
of Charges for Business Customers                                        case of an advertisement in a newspaper on the day the
“Corporate Customer” means a firm or company that has, when              newspaper is published.
the Agreement is entered into, an annual turnover and/or balance    4.   If we do not enforce, or delay in enforcing any of our rights
sheet of more than €2 million and which employs 10 or more               this will not stop us from enforcing any such right at a later
people                                                                   date.

“Direct Debit” means a transaction originated by the beneficiary,   5.   If any part of this Agreement should be invalid, unlawful or
as authorised by you so the amount can vary each time if                 unenforceable for any reason, that part will be severed from
                                                                         the remainder, which will continue to apply.
necessary
                                                                    6.   Your Agreement is in English and all communications issued

                                                                                                                                          15
      under or in connection with it will be in English. You and we           advice if you are uncertain of your obligations to report the
      may communicate in writing, by telephone, by fax, or by                 interest income.
      using 365 online or Business on Line. You may request a
      copy of your Agreement at any time during its course.               18. Where required by law we will withhold UK income tax
                                                                              at source. Such tax is treated as tax paid by you for UK
 7.   These Terms and Conditions (and other documents we have                 tax purposes and will reduce your UK tax liability or be
      referred to in them) as we may vary them from time to time,             recoverable from the UK tax authorities if due to your
      represent your entire Agreement with us.                                circumstances you are not liable to UK income tax. We will
                                                                              also inform any tax or supervisory authority (whether in the
 8.   In the event of any dispute concerning these Terms and                  UK or overseas) of your details and the amounts of interest
      Conditions contained within “A Guide to Banking for                     paid to you where any law or regulation requires this.
      Business Customers”, your Application and Mandate Form,
      our Schedule of Charges for Business Customers or the use           19. There is currently no obligation to withhold income tax and
      of any Business ATM Card where your Account is held in                  accordingly unless the law changes we will make payments
      one of our branches in Northern Ireland, the laws of Northern           without deduction of tax from the interest paid to, in
      Ireland will apply and the Courts of Northern Ireland will have         particular:
      jurisdiction.
                                                                               •	   companies;
 9.   Further, you submit to any other jurisdiction in which you
      may have assets and you waive any objection to any claim                 •	   unincorporated clubs, societies and associations (unless
      that any suit, action or proceeding has been brought in an                    interest is paid to members in proportion to each
      inconvenient forum.                                                           individual’s investment e.g. savings, thrift or Christmas
                                                                                    clubs);
 Set Off                                                                       •	   Scottish partnerships or Limited Liability Partnerships
 10. If you have any account with us that is in credit we can                       (unless all the members are individuals);
     transfer money from that account to any other account that
     you hold with us that is overdrawn. We will not give you                  •	   Schools under local authority control; or
     prior notice of this transfer, but we will inform you about it. In        •	   General client deposits where there is an obligation to
     addition, whilst any of your accounts are overdrawn we will                    pay the interest on to more than one client.
     also have a lien on any of your property or security that we
     hold.                                                                20. Subject to any change of law UK income tax will be withheld
                                                                              on interest paid to an individual unless certain exclusions
 11. We can also appropriate, combine and consolidate all or any              apply of which the main ones are listed below.
     accounts that you hold with us without giving you prior notice
     and may set-off or apply such money towards satisfaction of               •	   The beneficial owner (or if applicable all the owners)
     an overdraft on any of your accounts.                                          is not liable to UK tax for instance because their total
                                                                                    taxable income from all sources is below the tax
 12. The provisions in clause 10 and 11 apply to any account                        threshold and we have been provided with a completed
     which you hold with us, irrespective of the currency or                        applicable declaration (form R85) which has been
     location. It may from time to time be necessary in the                         completed correctly and we have not been advised that
     exercise of these rights for us to convert funds from one                      the form can no longer be acted upon. You must tell us
     currency to another and such conversion shall occur at our                     immediately if your circumstances change.
     prevailing rate. Any fee or charge we incur as a result of such
     conversion shall be paid for by you.                                      •	   The beneficial owner (or if applicable all the owners) is
                                                                                    not ordinarily resident in the UK for tax purposes and we
 Changes to these Terms and Conditions                                              have received a valid, current declaration to that effect.
 13. We may vary, amend or add to these Terms and Conditions.                  •	   The account is a qualifying time deposit that is a non
     Any changes which are to your advantage, or changes to                         transferable deposit of at least £50,000 (or foreign
     interest and exchange rates based on reference interest or                     currency equivalent at the time the deposit is made)
     exchange rate information already provided to you, may take                    repayable in a single amount within five years.
     effect immediately.
 14. All other proposed changes will be notified to you at                Interest rate changes
     least two months (unless you are a Corporate Customer)               21. The interest rate may be fixed and will not change for the
     before they take effect. Such changes will be deemed to                   period that we agree with you in advance; otherwise the
     be accepted by you unless you advise us to the contrary.                  interest rate will be variable. A variable interest rate may be
     You have the right to terminate your Agreement with us                    changed immediately under condition 13 if the change is to
     immediately, without charge, before such changes take                     your advantage or if there is a change to a reference interest
     effect. If you wish to do this, please contact your branch.               rate (e.g. Bank of England base rate). If the change is to your
                                                                               disadvantage and it is not a change to a reference interest
 15. We will tell you about any changes to your Agreement or                   rate then we will give you notice under condition 14. The
     interest rates by any of the following means:                             reason for such change may be one or more of, but shall not
      •	   Advertising in the press                                            be limited to, the following reasons:

      •	   Sending you written notice                                          •	   to reflect general changes in interest rates,

      •	   Displaying notices in our branches                                  •	   to respond to the actions of our competitors,

 16. If we have made a major change or several minor changes                   •	   to reflect fluctuations in markets,
     in any year, we will give you a copy of the new Terms and                 •	   to ensure that we are able to secure income which is
     Conditions or a summary of the changes.                                        adequate to ensure that we meet the requirement of any
                                                                                    regulatory body and have sufficient resources to support
 Taxation                                                                           our business in the interest of all our customers.
 17. Interest paid on your Account will represent UK source
     income for taxation purposes. You will normally be                   22. When we change the interest rates on your Accounts, we will
     required to include it within any return of income or profits            update the information available in our branches and on our
     required by the applicable authorities relevant to your own              website within three working days and we will place notices
     circumstances. In certain countries, including the UK, there is          in newspapers (usually The Belfast Telegraph, Newsletter and
     an obligation to notify eg the tax authorities where income is           the Irish News).
     received even if no return is otherwise requested. You should        23. To help you compare rates more easily, the old rate will also
     consult the authorities in your jurisdiction or take professional        be shown on our website and newspaper notices.
16
Transactions on your Account                                              the unauthorised transaction arises from the loss or theft
24. For value dates and cut off times in respect of payments              of a Business ATM Card or misappropriation of security
    from your Account please refer to Section 1 to 20 of this             information, you will be liable up to a limit of £50 provided
    brochure “A Guide to Banking for Business Customers” for              that you have not acted fraudulently or failed with intent or
    details.                                                              gross negligence to protect the security of your Account, in
                                                                          which case you will be liable for all losses. The limit of £50
25. If we do not execute or incorrectly execute a transaction we          does not apply to a Corporate Customer as there is no limit
    will without undue delay take whatever action is necessary to         to liability for any unauthorised transactions arising from the
    rectify the error or omission.                                        loss or theft of a Business ATM Card or misappropriation of
26. We may refuse to make a payment from your Account if:                 security information.

    •	   you have insufficient available funds in your Account.       30. Where you authorise a payment transaction but do not
         Please see the Schedule of Charges for business                  specify the exact amount of such transaction, and the
         customers for the current charges applicable to                  amount of the payment transaction exceeds the amount that
         unauthorised overdraft charges;                                  you reasonably expected, we may make a refund providing
                                                                          you have requested such refund within 8 weeks of the funds
    •	   you have given us unclear, incorrect or incomplete               being debited. The right to a refund in these circumstances
         instructions;                                                    does not apply to a Corporate Customer.
    •	   you are in breach of your Agreement;                         31. We reserve the right to debit from your Account the amount
    •	   we suspect fraud or other illegal activity;                      of any refunds (if any) paid to you where, upon further
                                                                          investigation, it is subsequently established that you are
    •	   we believe there is any significant adverse change in            not entitled to a refund. There is no right to a refund where
         your financial circumstances;                                    consent for a transaction has been given directly to us
                                                                          (for example, a direct debit), or where information on the
    •	   we have any legal or regulatory reason; or                       payment transaction was given to you at least four weeks
    •	   we consider that our business reputation may be                  before the due date by the payee or their bank.
         significantly compromised.                                   32. In the case of any dispute between you and the Bank
    If we refuse to make a payment we will notify you. We may             regarding a transaction, the books and records kept by, or
    do this in a variety of ways depending on the nature of your          on behalf of, the Bank (whether kept on paper, microfilm, by
    Account and type of payment:                                          electronic recording or otherwise) shall, in the absence of
                                                                          manifest error, constitute sufficient evidence of any facts or
    •	   Business ATM Cards – by displaying a message                     events relied on by the Bank in connection with any matter or
         on the ATM or other point of sale payment terminal               dealing relating to the transaction.
         immediately;
                                                                      33. Your Account number will include an International Bank
    •	   Direct debits and standing orders – by displaying related        Account Number (IBAN) which will be quoted on all Account
         charges on your bank statement. This information is              documents.
         also available on 365 online and Business on Line.
                                                                      34. If you require a certificate of interest paid and tax deducted,
    •	   For other payment types (e.g. telegraphic transfers) – by        please advise your branch when the Account is opened and
         contacting you directly to advise you that the payment           this will be generated automatically for you.
         request has been refused.
    You may request details of any unpaid item(s), the associated     Charges
    Charge(s) and our reason(s) for refusing to make the              35. When you become a customer we will give you details of any
    payment by contacting your local branch.                              Charges for the day-to-day running of the Account you have
                                                                          chosen and explain the terms that we use to describe our
27. If you lose or part with your Business ATM Card, if it is taken       services. We will give you details of any Charges we make
    from you even for a short period of time, is stolen or used           for using an ATM when we issue the cards (where relevant).
    in an unauthorised or irregular maner, of if someone else             You will be notified at least fourteen days in advance of any
    knows your PIN, you must telephone us immediately by                  Standard Current Account Charges being applied to your
    contacting your branch. We may stop or suspend your use               Account.
    of any Business ATM card, password and/or PIN to authorise
    transactions if:                                                  36. Standard Current Account Charges are accrued (typically)
                                                                          over a 90 day period, usually around the beginning of March,
    •	   we suspect fraud;                                                June, September and December. Charges will be debited
    •	   you are in breach of your Agreement with us; or                  from your Account approximately 30 days after calculation.

    •	   we believe there is a significant adverse change in your     37. If you believe that we have charged you incorrectly, you
         financial circumstances.                                         should write to us and show why you believe this to be the
                                                                          case. We will acknowledge your enquiry and deal with all
    If we do this, we will let you know why as soon as possible.          cases as quickly as possible. We will explain how we will
                                                                          handle your enquiry and explain our complaints procedure.
28. If you become aware of any unauthorised or incorrect
                                                                          We will consider each case separately. We will explain how
    transactions on your Account, you must notify us without
                                                                          we worked out your Charges. We will share our calculations
    undue delay by contacting your local branch. Notification
                                                                          with you and your advisors if you ask us to. If you ask us
    must be received by us no later than 13 months from the
                                                                          to, we will provide details of Charges, interest or cleared
    date the transaction was debited from your Account or
                                                                          balances to help you check your Charges. We will tell you if
    you may not be entitled to a refund. If you are a Corporate
                                                                          there is a Charge for this service.
    Customer, it is your responsibility to show to our reasonable
    satisfaction that a transaction was unauthorised or incorrectly   38. If we agree that you are entitled to a refund, we will pay
    executed. Where a transaction has been authorised in                  this straight into your Account, unless you ask us to pay in
    accordance with the relevant security procedures, as a                another way. If you use an agency to help you to work out
    Corporate Customer you will, in the absence of any evidence           your Charges, we may not pay that agency’s fees.
    to the contrary, be liable for any such transactions.
                                                                      39. Full details of our Charges are available in our Schedule of
29. Where we establish that the transaction was not authorised            Charges for Business Customers or on our website www.
    by you, we will refund the amount of the transaction and,             bankofireland.co.uk/business. If we intend to increase any of
    if applicable restore the Account to the state it was in had          the Charges which apply to the running of your Account we
    the unauthorised transaction not taken place. However, if             will give you at two months’ notice in writing (unless you are

                                                                                                                                            17
     a Corporate Customer) before making the change.                        amount of the repayment is not available we will continue to
                                                                            try to debit the Account taking such funds as are available
 40. We will tell you the Charge for any other service or product           until the repayment is paid in full.
     before we provide that service or product or at any time you
     ask.                                                              55. If the date chosen to make repayments does not exist in any
                                                                           particular month we will collect the repayment on the last day
 Terms and Conditions for Specific Accounts                                of that month unless that day is not a Business Day when
 41. If you have one or more of the Accounts listed below, this            the repayments will be collected on the next Business Day.
     brochure “A Guide to Banking for Business Customers”
     which includes our general Terms and Conditions applies,          56. Generally, any payment you make will be applied at our
     except as it is added to or amended with the following                reasonable discretion to the loan in the following order:
     specific terms. In the event of a conflict these Terms and             •	   Any Charges you have incurred
     Conditions for Specific Accounts shall prevail.
                                                                            •	   Any arrears of interest
 Current Accounts                                                           •	   Other interest
 42. If your Current Account qualifies for credit interest, interest
     is calculated daily on cleared credit balances and will be             •	   Any arrears of capital
     applied to your Current Account quarterly.                             •	   Capital
 43. Interest on an overdrawn Current Account will be calculated       57. Loan repayments will be collected from an existing or new
     daily on the overdrawn balance and on the uncleared                   current or deposit account you hold with us or alternatively
     debit balance and will be charged to your Current Account             by direct debit from an account you hold with another
     quarterly.                                                            financial institution. This account is called the Linked Service
 44. You must operate your Current Account in credit at all times,         Account (LSA).
     unless we have agreed an overdraft in writing with you. An        58. Repayments collected from the LSA will fluctuate in line
     overdraft is not implied.                                             with interest rate changes. We will automatically adjust the
 45. If we agree an overdraft with you, specific terms will be             amount of the repayment so that the loan is repaid within the
     agreed with you in writing. You must operate your overdraft           agreed term.
     in accordance with those terms, in particular, within the         59. Any other loan payments must be transferred from the LSA
     agreed overdraft permission.                                          and cannot be paid into the Business Loan Account directly.
 46. The debit interest rate on your account will reflect changes      60. Where the loan is paid back in full, in advance of the agreed
     in the Bank of England Base Rate and will normally change             payment date subject to certain conditions a breakage fee
     within one working day of the relevant Bank of England                applies. Contact your business manager or branch for more
     announcement. You will also receive pre-notification of               details on what charges apply.
     interest Charges 14 days before they are charged to your
     Current Account.                                                  Terms & Conditions for Savings Accounts
 47. We charge a set up fee and an annual review fee for agreed        61. Savings Accounts should not be used for normal business
     overdrafts and we will tell you what the fee is before you            trading transactions as our Business Current Account is
     accept the overdraft.                                                 more suitable. In all instances of deposits you will be asked
                                                                           to provide evidence of the source of funds deposited.
 48. Overdrafts are repayable on immediate written demand.
                                                                       62. Unless specified, we will not allow either Direct Debits or
 49. If the payment of a Withdrawal by us creates an                       Standing Orders on Business Savings Accounts.
     unauthorised overdraft on your Current Account or causes
     your agreed overdraft permission to be exceeded this is not       Premium Business Reserve Account
     to be taken as an agreement to any further unauthorised           63. The minimum balance is £500. If the balance on a Premium
     borrowing in the future.                                              Business Reserve Account falls below £500, our demand
 50. If you do not operate your Current Account within an agreed           deposit rate will apply.
     overdraft limit at any time during a Standard Charging            64. Interest is calculated daily and paid half yearly in arrears, in
     Quarter, you will be charged interest on the amount by which          March and September.
     you exceed the agreed overdraft limit:
                                                                       65. Interest rates are tiered and may be varied at any time by
      •	   at the overdraft rate agreed between you and the Bank;          the Bank. Please see our Rates and Products brochure for
           and                                                             details.
      •	   at the Bank’s Surcharge Interest Rate.                      66. Statements will be provided for Premium Business Reserve
 51. If you overdraw without any prior overdraft agreement, you            Accounts annually at the end of March.
     will be charged interest on the entire overdrawn balance:         67. There are no charges for debit or credit entries nor is there
      •	   at the Bank’s Unauthorised Overdraft Rate prevailing            any restriction on the number or value of transactions.
           from time to time; and
      •	   at the Bank’s Surcharge Interest Rate.
                                                                       Fixed Term Deposit Account
                                                                       Opening the Account
 52. Interest and surcharge will be calculated on a daily basis.
                                                                       68. The minimum amount required to open and maintain an
     Where there is a prior overdraft agreement which has been
                                                                           Account is £10,000. There is no maximum to the amount
     exceeded, that part of the overdrawn balance which falls
                                                                           you can pay into the Account.
     within the agreed overdraft limit will continue to be charged
     at the agreed overdraft rate.                                     69. Further deposits may not be made to the Account during the
                                                                           term.
 53. The Bank expects accounts where an overdraft is made
     available to be in credit periodically but for a minimum of 30    70. Funds cannot be lodged directly to the Account, but must be
     days in every 12 month period.                                        lodged from either a new or an existing Bank of Ireland UK
                                                                           Current or Deposit Account. This is referred to as a Linked
 Loan Accounts                                                             Service Account (“LSA”). Completion of the Application Form
 54. Where loan repayments are payable by regular amounts from             authorises us to open a Fixed Term Deposit Account and a
     an Account with us we will debit the Account on the due               Classic Saver Account for new customers. The Classic Saver
     date with the amount of the repayment and where the full              Account will be the nominated LSA.

18
71. The amount, term and the rate of interest are agreed on the              of Charges for Business Customers available from your
    date the Account is opened, and on subsequent renewals (if               Business Manager or branch or by visiting our website, www.
    any).                                                                    bankofireland.co.uk/business for details.

Interest                                                                 78. If an early withdrawal requested by you results in the
72. The interest rate is fixed for the duration of the agreed term.          reduction of the balance in the Account to below £10,000,
                                                                             the entire balance in the Account, with all accrued interest,
73. Interest is paid on expiry of the term (at maturity).                    will be transferred automatically to the Linked Service
                                                                             Account and will earn interest at the rate applicable to the
    (a) If you withdraw the entire balance of the Account at                 Linked Service Account. A Breakage Charge will apply to the
    maturity, interest will be paid into the Linked Service Account.         entire balance.
    (b) If the entire balance of the Account at maturity is              79. Where the Account is a Qualifying Time Deposit as
    redeposited, interest will be paid, at your instruction, either          described in Condition 76 and the term is broken by an early
    into the Account or the Linked Service Account.                          withdrawal, interest will not be paid gross from the date
                                                                             of the withdrawal unless the beneficial owner is otherwise
    (c) If an early withdrawal is made in accordance with                    entitled to gross interest as described in Condition 76.
    Condition the interest accrued on the amount withdrawn
    will be paid at the date of withdrawal into the Linked Service       80. We will issue statements detailing the amount deposited,
    Account.                                                                 the rate of interest and the fixed term when you open your
                                                                             Account and when your Account matures or when you close
74. Details of current interest rates are available from your                it.
    Business Manager or branch.
                                                                         81. If you require a certificate of interest paid and tax deducted,
75. Interest rates are calculated daily in line with London Money            please advise your branch or Relationship Manager when the
    Market rates.                                                            Account is opened and this will be generated automatically
Taxation of Interest                                                         for you.
76. Where the beneficial owner of the interest is an individual (or          Your account number will include an International Bank
    more than one individual) interest will normally be paid net of          Account Number (IBAN) which will be quoted on all Account
    tax at the appropriate rate, unless:                                     documents.
     •	   The beneficial owner of the interest is a non-taxpayer         Maturity of the Account
          who has provided us with a valid HMRC Form R85,                82. Unless you tell us otherwise by 11.00am on the date of
          and we have not been notified that the form should no              maturity, your Account will be renewed automatically. The
          longer be acted upon; in the case of a joint Account, all          balance on the Account including accrued interest up to the
          parties must have provided valid Forms R85; or                     maturity date (unless you have otherwise specified) will be
     •	   The beneficial owner of the interest is not ordinarily             redeposited at our then prevailing fixed term deposit rate and
          resident in the UK for tax purposes, and has provided              for the same period of time as the previous fixed term.
          us with a valid declaration to that effect; in the case of     83. Any withdrawal of the balance and interest from the Account
          a joint Account, all parties beneficially entitled to the          at maturity must be made through the Linked Service
          interest must be not ordinarily resident in the UK; or             Account.
     •	   The balance of the Account is £50,000 or more and it           84. If the date of maturity falls on a day which is not a Business
          is held for the full term. In this scenario the Account will       Day, the balance will be redeposited on the next following
          be a Qualifying Time Deposit and interest will be paid             Business Day unless such Business Day is within the
          gross. However the interest forms part of your taxable             following calendar month, in which case the balance will be
          income and should be reported on any self assessment               redeposited on the Business Day immediately preceding the
          tax return.                                                        date of maturity.
    Where the beneficial owner of the interest is not an individual
    e.g. a company, charity or pension fund, then interest will          Death and Change of Parties to Account
    always be paid gross.                                                85. In the event of the death of a sole Account holder the
                                                                             personal representative may withdraw the entire balance and
    Further information is available from your Business Manager              any interest accrued up to the date of withdrawal through
    or branch.                                                               the Linked Service Account by. A Breakage Charge will not
                                                                             apply.
Account Features
77. It should be your intention to leave your capital in the             86. If an Account is held on a joint basis by two or more Account
    Account until the maturity date. Subject to Conditions 85                holders, if for any reason, including death, the first named
    and 86, no early withdrawals can normally be made from the               Account holder ceases to be party to the Account, the
    Account. If, due to exceptional circumstances, we allow you              Account may be closed and a new Account may be opened
    to withdraw part or all of the deposit before the end of the             in the name of the remaining Account holders subject to
    fixed term you will have to pay a Breakage Charge, which will            agreement of new Terms and Conditions. The entire balance
    be calculated as follows:                                                in the Account and any interest accrued up to the date of the
                                                                             transfer may be transferred to the new Account. A Breakage
    P x (R-D) x T                                                            Charge may apply but not in the event of the death of the
          365                                                                first named Account holder.

    Where: P = Amount Withdrawn                                          90 Day Account
    R = Replacement Market Rate                                          87. The minimum opening balance is £2,500. There is no
    D = Rate on the Account                                                  maximum to the amount you can save. If the balance falls
    T = Remainder of fixed term in days                                      below £2,500 the rate payable will be no lower than the
                                                                             interest rate payable on our Demand Deposit account.
    Example: £10,000 x (5.25-3.5) x 62 = £29.73
                                                                         88. Tiered rates of interest apply to the Account.
                         365                                             89. Interest will be calculated on a daily basis on the cleared
    Before making a request for us to allow you to make an early             credit balance.
    withdrawal you are advised to ask for details of the Breakage        90. Interest can be paid annually or monthly. If you select the
    Charge. A minimum fee applies. Please see our Schedule                   monthly option, interest will be paid on the 21st of each

                                                                                                                                           19
     month. Your choice should be made at the time the account              application of payment or misapplication of payment
     is opened.                                                             instructions arising from circumstances outside its control,
                                                                            including but not limited to:
 91. “Early Withdrawal Fee” shall mean a charge payable to us of
     1% of the amount withdrawn. A minimum fee applies. Please               •	   your failure to fully and accurately provide payment
     see our Schedule of Charges.                                                 details;
 92. You are required to give us 90 days notice before any                   •	   technical failure, interruption or breakdown in routing
     withdrawal may be made from the Account. Notice should                       payments (including Bank of Ireland Group systems,
     be given in a Notice of Withdrawal form, available from any                  overseas banking systems, intermediary systems and
     of our branches. The 90 day period will commence from the                    those of intermediary banks and/or receiving banks);
     date we receive your notice. If you make a withdrawal from
     the Account before the end of the 90 day notice period you              •	   riots, wars, acts of terrorism, civil disturbances,
     shall pay us the Early Withdrawal Fee. There is no notice                    strikes, industrial disputes, acts or omissions of
     period if the balance remaining in the account exceeds                       government (whether local or national), explosions,
     £5,000.                                                                      fires, earthquakes, storms, floods or other natural
                                                                                  catastrophes; and
 93. If you are unhappy about your choice of Account within 14
     days of:                                                                •	   errors, omissions or delays on the part of intermediary
                                                                                  banks and/or the receiving banks.
      •	   the day the contract is entered into; or
                                                                        Transactions
      •	   the day on which you receive contract terms and              104. Cut-off times will vary depending on the service options
           conditions and other information on paper or                      selected by you and full details can be found in this brochure
           electronically;                                                   “A Guide to Banking for Business Customers”. Where we
     whichever is the later, we will help you switch to another of           receive your instruction:
     our accounts or we will give all your money back with any               •	   before the cut-off time on any Business Day, we will
     interest it has earned. An Early Withdrawal Fee will not apply.              treat your instruction as being received by us on the
 94. On your death or the death of any one of you, the balance of                 same Business Day;
     the Account with interest earned up to the date of withdrawal           •	   after the cut-off time on any Business Day, we will treat
     may be withdrawn without payment of any Early Withdrawal                     your instruction as being received by us on the next
     Fee.                                                                         Business Day;

 Terms and Conditions for Telegraphic Transfer                               •	   out of normal working hours, we will treat your
                                                                                  instruction as being received by us on the next Business
 and CHAPS payments                                                               Day.
 Your Responsibilities
                                                                        105. We will process all payments so that the beneficiary bank
 95. For your own benefit and protection, you should read these              will be credited within 4 Business Days of the deemed date
     Terms and Conditions carefully before requesting a CHAPS                of receipt of your instruction (D+4). The above referenced
     payment. If you do not understand any point, please ask us              processing times apply to same currency payments within
     for further information.                                                the EEA and are the maximum permitted processing times;
 96. You must exercise reasonable care in issuing instructions               but the Bank will always try to process payments quicker
     to the Bank and you agree to abide by these Terms and                   wherever possible. Payments involving a currency conversion
     Conditions at all times.                                                or to countries outside the EEA will be subject to longer
                                                                             processing times and so we urge you to discuss your
 97. It is your responsibility to provide us with correct payment            specific payment requirements with us before sending your
     details and any supporting documentation and/or information             payment request.
     we may require. Failure to do so may result in the non-
     application, or delayed application of instructions, for           106. Once we have received your instruction to make a payment,
     which the Bank is not liable. It may also result in the return          you will not be able to cancel it once the payment has left
     of the payment request for correction. Furthermore, you                 your Account. Whilst we cannot guarantee that any request
     acknowledge that we are under no obligation to check                    subsequently received from you to cancel the payment can
     whether the unique identifiers (e.g. beneficiary IBAN, sort             be complied with, we may in certain circumstances agree
     code, SWIFT code, BIC, etc.) or other information provided              to cancel and refund the amount of a payment net of any
     by you in your instruction are correct and, we accept no                costs and/or expenses at the current rate of exchange (if
     liability whatsoever for any losses incurred by you or any third        applicable). Please speak to our branch staff for further
     party as a result of your failure to correctly complete these           information.
     details within your payment request.                               107. We may refuse to act on your payment instructions where:
 98. You authorise the Bank to make any correcting entries on                •	   your instructions are unclear, incomplete or are not
     your Account without your prior approval in the event that                   in the required form (e.g. they do not contain the
     the Bank or any third party over-credits or under-debits your                beneficiary IBAN, sort code, SWIFT code, BIC, account
     Account by mistake in respect of your instructions.                          number, etc. or any other information that we need to
 99. Your instructions must be signed in accordance with the                      process the transaction); or
     Mandate held by the Bank.                                               •	   your instructions are not authorised in accordance with
 100. Cleared funds must be available on the Account to meet all                  the Mandate held by the Bank; or
      proposed transfers of funds.                                           •	   we suspect fraudulent or other unlawful activity on the
 Our Responsibilities                                                             Account; or
 101. We agree to act on your instruction to process the payment             •	   to do so would put us in breach of a legal or regulatory
      as requested and in accordance with these Terms and                         requirement which applies to us.
      Conditions.
                                                                            If we refuse to process an instruction for any reason, we will
 102. We will carry out such checks as we believe necessary and/            on request tell you why we refused the transaction.
      or appropriate to confirm your identity and to otherwise
      comply with our legal and regulatory obligations.                 108. We will provide you with details of the payment transaction
                                                                             (once executed) on your account statement and you should
 103. The Bank is not responsible for non-payment, delay in                  make sure the transaction has been executed properly.

20
    (Where any transaction is effected by the Bank in accordance
    with a unique identifier (e.g. sort code, account number, BIC
    or IBAN) supplied by you and the unique identifier supplied is
    incorrect, we shall have no liability to you in respect of such
    transaction. We will however make all reasonable efforts to
    recover the funds but we may charge you in respect of any
    reasonable costs incurred by us in recovering the funds on
    your behalf.

Charges
109. Charging options are to be indicated by you on your
     payment request. If a charging option is not selected, the
     ‘shared’ option will be applied:
    •	   Shared – For payment transactions where a currency
         conversion is not required (e.g. sterling to sterling) within
         the EEA, you must pay our Charges and the beneficiary
         must pay the charge(s) levied by its bank. For payment
         transactions where a currency conversion is required
         (e.g. sterling to euro) all charging options are available.
         This does not affect existing rules in relation to EU Reg
         Payments.
    •	   Beneficiary – Beneficiary pays our Charges and the
         charges levied by its bank.
    •	   Sender – You pay our Charges and the charges of the
         beneficiary’s bank.
110. Details of our applicable Charges for each type of payment
     are included within the Schedule of Charges for Business
     Customers.
111. You should be aware that some foreign banks have no
     upper time limit on implementing payment charges and
     it typically takes up to 4 weeks for these charges to be
     claimed and passed on to you where the charging option
     “Sender” is selected. However, in certain cases this can take
     considerably longer (i.e. up to 3 months). In addition, some
     foreign banks may deduct a charge from the beneficiary even
     when you have chosen to pay all charges.
112. When a payment is returned by a beneficiary bank, you
     should note that the amount returned may differ from the
     original transaction amount because of charges deducted
     by that bank and/or differences in the prevailing exchange
     rate when returning the payment. Beneficiary bank charges
     are outside our control. Any charges taken by the beneficiary
     bank at the time the initial payment was processed will not
     be refunded to you in the event that the payment is returned.
     If you wish to re-execute the payment transaction, our
     standard Charges will be applied.




                                                                         21
This document can be made available in Braille, large
print or audio upon request.

Please ask any member of staff for details




Bank of Ireland UK
1 Donegall Square South
Belfast
BT1 5LR



028 9043 3000
www.bankofireland.co.uk/business




Bank of Ireland UK is a trading name of Bank of Ireland (UK) plc which is authorised and regulated by the
Financial Services Authority. Registered in England and Wales (No. 7022885), Bow Bells House, 1 Bread Street,
London EC4M 9BE.


UK37-1009N.2 (03/11)                                                                                            0411248

				
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