Remittance Information Sheet
| Payment Services Provider (PSP) |
Habib Allied International Bank Plc |
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| Payment Services Provided |
Money Transfers/Fund Transfers/Payment Orders/Remittances. Each Money Transfer/Fund Transfer/Payment Order/Remittance request is handled by the Bank as a single "one-off" payment transaction. |
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| Remittance Instruments |
Money Transfer/Fund Transfer/Payment Order/Remittances are all the payment transaction instruments for the transfer of money and termed as Remittances or Payments in this document. |
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| Remittance information provided by customers |
As per remittance application form filled in and signed by the applicant/remitter. |
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| Execution of remittance instructions |
Remittance instructions will be executed by the PSP (the Bank) on receipt of debit authority in writing after duly verifying the customer signatures and adequate balance in the account or cash receipt along with remittance application form. |
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| Cut off time for execution of remittance instructions for same day execution. Instructions received thereafter deemed to have been received next business day. |
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| Remittance instructions - Time after receipt of remittance instructions, by which the funds will have been received by the payee's PSP. |
The default rule is that remittance payments will be credited/made to the payee's payment service provider or settlement service provider on the business day following the day when payment instruction was received by the Bank. However the following time limit will apply for instructions received before cut off time:
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| Charges | Our charges will be levied as per our schedule of charges displayed at each branch notice board and our website. Counter staff will also intimate charges to the remitter at the time of receipt of remittance application. Payee's PSP charges will be payable by the payee. | ||||||||||||||||||
| Exchange Rate | Transfer amount, exchange rate, sterling equivalent, service charges will be intimated to the remitter and detailed in the custome receipt copy of the remittance application. | ||||||||||||||||||
| Notification of incorrectly executed payments | If a customer becomes aware of an incorrectly executed remittance instructions, they must notify the Bank without undue delay for correction. | ||||||||||||||||||
| Notification of unauthorised executed payments | If a customer becomes aware of an unauthorised executed payment transaction, they must notify the Bank without undue delay and no later than 13 months after the date of transaction or else he will not be entitled to refress under the Payment Services Regulation 2009. | ||||||||||||||||||
| Revocation of remittance instructions | The customer cannot revoke a remittance instruction after it has been received and executed by the Bank. However if the Bank has not transmitted payment instructions, customer request will be accommodated. A charge as per schedule of charges will be levied for carrying out revocation instructions. | ||||||||||||||||||
| Unique Identifier | Reference number of the remittance instructions provided by the Bank along with Sort Code of payee bank, name and account number of payee for sterling payments; BIC (SWIFT code) of the payee bank and IBAN of the payee for Euro transfers; and name of beneficiary bank, its branch and beneficiary for all other remittances will be unique identifier for payment transactions. | ||||||||||||||||||
| Force Majeure | Unforeseeable course of events excusing fulfilment of the remittance instruction as stated in the terms and conditions on the back of remittances application form. | ||||||||||||||||||
| Dispute Resolution |
Copy of the Bank's complaint handling policy and procedure is available upon request at any of the Bank's branches. A summarised copy is displayed on the notice board of each branch. The Bank will handle all complaints in accordance with its Complaint Handling Policy. Bank is a member of the Financial Ombudsman Service (FOS). If not satisfied with the outcome of a complaint to the Bank, eligible customers can escalate their complaint to FOS for redress.
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| Address of Financial Ombudsman Service (FOS) |
The Financial Ombudsman Service email: |
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| Applicable Law | Laws of England and non-exclusive jurisdiction of the Court of England. |
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