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• Terms & Conditions for Business Accounts

Terms & Conditions - Business Accounts

Effective from 1^st April 2010

These terms and conditions are a contract between you and us - Habib Allied International Bank plc (trading as Habib Bank UK). Please read them carefully and retain them for future reference.  When you apply to open an account you accept these terms and conditions.  They:

• apply to any accounts you have with us
• explain our obligations to you and your obligations to us; and
• apply to all our services provided to you although these terms and conditions may be added to or varied by specific terms and conditions for certain services.

Please note that certain of these terms and conditions may NOT be relevant to a savings account or a fixed/term deposit account, for example:

• those terms relating to cheque books or payments by standing order or direct debit will not apply as these services are not available for savings accounts or fixed/term deposit accounts; or
• those terms relating to borrowing or overdrafts will not apply as you may not borrow on a savings account or a fixed/term deposit account.

 Please refer to your branch if you are uncertain as to what services are available in respect of your account.

1.  Definitions

In these terms and conditions:

"account" means each or any account held by you with us and "accounts" means all of them including payment accounts.

"branch" means a place of business of the Bank.

"You", "Your" or "Payer" means the account holder(s) set out in the seperate account operating instructions you provide to us from time to time covering your accounts (or any of them) with us, and includes, in particular the business customers defined below:-

• Sole trader - a person operating a business in his or her own name, or under a trade name.
• Partnership - two or more people operating an unincorporated business together with a view to making a profit from their activities.
• Corporate Customers - a limited or unlimited company incorporated in the UK or abroad, limited liability partnership and other corporate bodies; and
• Club, society, association, personal representative, trustee, charity or other group - a person, group or body providing a service or benefit for the benefit of its members or others as applicable.

 "Payee" means a person who is intended recipient of funds which have been the subject of a payment transaction.

"Payment order" means any instructions by you to us requesting execution of a payment transaction.

"Payment transaction" means an act, initiated by you, of placing, transferring or withdrawing funds, irrespective of any underlying obligation between you and payee.

"Schedule of charges" means the seperate schedule setting out our charges from time to time.  The current schedule of charges is displayed in our branches and on our website (www.habibbankuk.com) and is available upon request.

"We", "us", "our" means Habib Allied International Bank plc (trading as Habib Bank UK) and our successors in title and/or assigns.

"working day" means Monday to Friday, except for a public holiday.

The following ways of making payments are referred to in these terms and conditions and are briefly defined below.

• Standing order - this is an instruction you have given to your branch to make payments from your current account for a specified amount on named dates, to a stipulated account.

• Direct debit - means a payment service for debiting the payer's i.e., your payment account where a payment transaction is initiated by the payee on the basis of consent given by you to the payee, to the payee's payment service provider (bank) or to the payer's own payment service provider (us).  The amount(s) and date(s) can either be fixed or they can vary. 

 "Habib Bank Group" - Habib Allied International Bank plc is a subsidiary of Habib Bank Limited.  Habib Bank UK Group means Habib Bank Limited and each of its subsidiaries (including Habib Allied International Bank plc).

2.  Revisions to the Terms and Conditions

We may, at our discretion, change these terms and conditions.  We will inform you of these changes by notice displayed in our branches and/or on our website (www.habibbankuk.com) and/or by other means as we deem appropriate (which may include messages contained in your statement).  Such notice may at our discretion, either detail the changes or, instead, may state that there have been changes and set out from where a copy of the revised terms and conditions may be obtained.  The changed terms and conditions will apply from the date specified in the notice.  We may also agree seperate terms with you in writing.

If a change is to your disadvantage, we will give you not less than 30 days prior written notice before we make it.  We may make any other change immediately and tell you about it within 30 days.  If we make a disadvantageous change, at any time up to 60 days from the date we tell you of it, you may switch any account affected or close such account(s) without having to pay any additional charges or interest beyond what you would have had to have paid had we not made the change.

If we have made a major change or a large number of minor changes in any one year, we will give you a copy of your new terms and conditions or a summary of the changes.

3.  Services

Our branches will generally be open between 9.15 am to 4.30 pm, each working day.  These timings may vary at some branches, and will be displayed at each branch.  Please refer to your branch for full details of their opening hours.

4.  Contacting each other 

We may contact you by post, telephone, fax or email by using the latest mailing address, telephone number(s) or email address that you have given us.  It is your responsibility to ensure that we have your current contact details.

We will normally contact:

• Sole Trader - the principal; or
• Partnership / Corporate Customer / Club, society, association, personal responsibility, trustee, charity, other group - account - one of the authorised signatories for the account or an individual specifically designated as our point of contact with you.  The designated individual is responsible for passing information we send to the other partners, directors, office bearers. 

You can contact us at the appropriate address, telephone number or email address we give you.

We may record or monitor telephone calls between us so that we can check instructions and make sure that we are meeting our service standards.

5.  Opening an account / documentation required

To open an account, the Sole Trader, Partners, Directors of the Company and Office bearers of club, society etc must be at least 18 years old.

When you apply to open an account with us we will ask you for certain information (including, without limitation, both the business and principal's proof of identity, proof of address and financial stan