Modern Merchant Banking · Small Business Account Summary Box This application form cover sheet...
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Small Business Account Summary Box This application form cover sheet provides you with a product summary box for each term currently available on this product. Account name Small Business Account What is the interest rate? Please refer to the cash illustrations, shown below. Can Close Brothers Treasury change the interest rate? W based on a £1,000 deposit? hat would the estimated balance be after 12 months How do I open and manage my account? Can I withdraw money? Modern Merchant Banking *AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid and added each year. Kindly note that interest is compounded on this deposit. Cash illustration Product name: Example amount: Term: Interest rate (AER*): Estimated balance after 12 months: Small Business Account - 95 Day Notice £1,000.00 95 Day 0.95% £1,009.50 Note, accrued interest is calculated daily and is paid into the Small Business Account semi-annually on 1 January and 1 July. Yes, the Small Business Account rate (Managed¹ rate) can be changed at any time, however, we must give you at least 1 month's written notice of any reduction in rate. You can only apply for this product via postal application. To manage your account, you can contact us by post, telephone or email. Minimum deposit of £25,000 must be maintatined at all times, maximum of £1 million per term applies. Please refer to the cash illustrations, shown below. To comply with regulations issued by the Financial Conduct Authority we are displaying a cash illustration based on £1,000 deposit amount. This is for illustration purposes only to allow cross market comparison; the minimum deposit on this product is £25,000. Yes, you may place a notice instruction to withdraw funds at any time, in writing or over the telephone. Your funds will then be repaid following completion of the applicable notice period. You may also place additional funds, ensuring they do not exceed the maximum balance. ¹Managed rate refers to a rate that we can change at any time. Such changes may be made without notice if the change is favourable to you. However, we must give you at least 1 month’s written notice of any reduction in rate.
Transcript of Modern Merchant Banking · Small Business Account Summary Box This application form cover sheet...
Small Business Account Summary BoxThis application form cover sheet provides you with a product summary box for each term currently available on this product.
Account name Small Business Account What is the interest rate? Please refer to the cash illustrations, shown below.
Can Close Brothers Treasury change the interest rate?
Wbased on a £1,000 deposit?
hat would the estimated balance be after 12 months
How do I open and manage my account?
Can I withdraw money?
Modern Merchant Banking
*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid and added each year. Kindly note that interest is compounded on this deposit.
Cash illustrationProduct name: Example amount:Term:Interest rate (AER*):Estimated balance after 12 months:
Small Business Account - 95 Day Notice£1,000.0095 Day0.95%£1,009.50
Note, accrued interest is calculated daily and is paid into the Small Business Account semi-annually on 1 January and 1 July.Yes, the Small Business Account rate (Managed¹ rate) can be changed at any time, however, we must give you at least 1 month's written notice of any reduction in rate.
You can only apply for this product via postal application. To manage your account, you can contact us by post, telephone or email. Minimum deposit of £25,000 must be maintatined at all times, maximum of £1 million per term applies.
Please refer to the cash illustrations, shown below.To comply with regulations issued by the Financial Conduct Authority we are displaying a cash illustration based on £1,000 deposit amount. This is for illustration purposes only to allow cross market comparison; the minimum deposit on this product is £25,000.
Yes, you may place a notice instruction to withdraw funds at any time, in writing or over the telephone. Your funds will then be repaid following completion of the applicable notice period. You may also place additional funds, ensuring they do not exceed the maximum balance.
¹Managed rate refers to a rate that we can change at any time. Such changes may be made without notice if the change is favourable to you. However, we must give you at least 1 month’s written notice of any reduction in rate.
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Continue overleaf for the product application form
Modern Merchant Banking
SBA April 18 Page 1 of 8
Applying for your SME Notice Account
1. the Investor must be a UK incorporated company registered under the UK Companies Acts; and 2. the Investor must have a number of employees during the current financial year of less than 250
a) a total balance sheet not exceeding £35,000,000.00* b) an annual net turnover not exceeding £40,000,000.00*
*Figures are based on SME criteria from the European commission.
Small Business Account
Applying for your Small Business Account
Acceptance criteria
Product Conditions
Please carefully read the information on pages 1 and 2, then complete the details requested on pages 3, 4, 5, 6, 7 and 8 in pen using BLOCK CAPITALS before signing the Acknowledgement and Confirmation. Please send your completed application form, together with any documentation that we have requested (see Documentation checklist on page 5), to Close Brothers Limited at our above address.
Please complete this form in BLOCK CAPITALS and then return to Close Brothers Limited, 4th Floor, 10 Crown Place, London, EC2A 4FT.
Please retain pages 1 and 2 for your information. All fields are mandatory, unless stated otherwise. We may have to return incomplete or incorrectly filled forms which may delay the processing of your application.
Guidance notes
This is a limited offer, subject to availability, and may be withdrawn at any time. We may refuse a deposit or decline to open an account.
For your application to be considered, we must receive your fully completed application form together with your initial deposit by electronic transfer. If your deposit is subsequently returned to us unpaid, your application will be rejected. The total initial amount you wish to deposit with us must be received by us in one single payment amount only.
3. the Investor must meet one of the two following financial criteria:
The minimum balance required to open a Small Business Account is £25,000.
The maximum balance allowed at any time is £1 million per account term.
The initial deposit must be paid by single BACS, CHAPS or Faster Payment drawn on your nominated bank account, subject to the nominated bank account requirements on page 2, or can be transferred from an existing Close Brothers account subject to the account’s terms and conditions.
Subsequent deposits can be made by electronic transfer from any UK bank account held in the company name, subject to the nominated bank account requirements detailed on page 2.
Notice cannot be rescinded.
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Important InformationThe Customer Agreement and Product Conditions form the standard customer agreement upon which we intend to rely. A copy of the Customer Agreement is provided with this application form or can be found on our website (www.closetreasury.co.uk). For your benefit and protection you should read the Customer Agreement and Product Conditions carefully before agreeing to them by signing and returning this application form to us. If you do not understand any point please ask for further information. Copies of the Customer Agreement are also available upon request by telephoning: 020 3857 3060 (Monday to Friday, 9am-5pm).
The Small Business Account (‘the Account’) is offered with a notice period. Deposits can be made by businesses that meet the following criteria:
All deposits placed with Close Brothers Treasury are subject to the Customer Agreement (as may vary from time to time) and to these Product Conditions. If there is any conflict between the Customer Agreement and these Product Conditions, these Product Conditions will apply. The Customer Agreement (together with these Product Conditions) is the standard customer agreement upon which we intend to rely.
Notice can be given by written, signed instruction sent to the Business Relationship team at the above address or by telephone on 020 3857 3060. Notice cannot be given by email or fax.
If you have any questions about your application, please call our Business Relationship team on 020 3857 3060 or contact your local Relationship Manager (Monday to Friday, 9am-5pm).
Interest is calculated on a daily basis from the day that funds clear and is paid into the Small Business Account semi-annually on 1 January and 1 July. If accrued interest in your Small Business Account results in your account exceeding the maximum balance (as stated in Product Condition 3), excess funds will be returned to your nominated bank account. An account statement will be sent to your correspondence address monthly.
You will receive at least 1 month’s written notice in advance of any interest rate reduction.
All repayments will be made to your nominated bank account by electronic transfer as set out in the Terms and Conditions (Customer Agreement). There is a minimum repayment amount of £5,000. Alternatively, funds may be transferred internally to another account held at Close Brothers Limited. If the Small Business Account falls below the account’s minimum balance (as stated in Product Condition 2), the balance will be paid in full to the nominated bank account and the account will be closed.
The Small Business Account will continue to run until you request to close it or the balance falls below £25,000. Notice to close a Small Business Account and withdraw funds will be treated as notice that you no longer require the account and any funds held will be returned to you at the end of the notice period and the account will no longer be available to you. No early access is permitted.
The Small Business Account is a notice account. 1.
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SBA April 18 Page 2 of 8
Any changes to the nominated account must be received by us in writing and must be signed in accordance with the attached Mandate, at least 10 days prior to any repayments being made by us. Your request must be accompanied by a photocopy of a recent bank statementconfirming the amended repayment details.
Your nominated bank account requirements
Processing of applications
About Close Brothers Limited
Proof of identity and address
Close Brothers Treasury and Close Brothers Savings are trading styles of Close Brothers Limited (‘CBL’), a subsidiary of Close Brothers Group plc. CBL isregistered in England and Wales with company number 195626 and registered office at 10 Crown Place, London EC2A 4FT. Close Brothers Limited isauthorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority, firm reference number 124750.
Under the current money laundering regulations, in common with other banks, we are required to verify your identity. To do this, we use the services of electronic data registers, including credit reference agencies. If we are not able to verify your identity by this method, we reserve the right to ask you to provideus with suitable documents to confirm your identity. If, as part of this application, you provide us with information about another person, you are also confirming that you have told them about this application, and that we will also need to verify their identity.
We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can paycompensation 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 depositors’ 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 call our Business Relationship team on 020 3857 3060, refer to the FSCS website www.fscs.org.uk or call 020 7741 4100 or 0800 678 1100.
Please note only compensation related queries should be directed to the FSCS.
Financial Services Compensation Scheme (FSCS)
For verification purposes, please enclose a photocopy of a recent bank statement dated within the last 3 months for your nominated account with the holder’s name, account number and sort code clearly visible or, alternatively a paying in slip or cheque marked ‘void’. Please be advised that any original documents may be retained for our records.
We make every effort to process all applications as soon as we receive them, but in the event of high demand for a particular product, it can take longer than usual to process applications. Interest is payable upon receipt of cleared funds, which in the case of electronic transfers is the value date our account is credited. Please be advised the Account may take up to 5 working days to open provided there are no errors or omissions on your application. If your application is rejected, funds will be returned to you within 5 working days.
Please note that your nominated bank account and the account(s) from which you make subsequent payments into the Small Business Account must be held in your company name.
SBA April 18 Page 3 of 8
Small Business Notice AccountNotice Account application
Section 3. Account requirements
Section 4. Nominated UK bank account for repayments
Please give the reason for opening the Account:
Please indicate the type of Accountrequired:
Deposit amount
95 Day Notice Account (0.95% AER*)
CHAPS BACS
• BACS/CHAPS electronic transfers should be made to Sort code 16-04-00 and account number 20009464, quoting reference‘Small Business Account holder name’
Nominated UK bank account
All repayments will only be sent to your nominated bank account which must be held in your company name.
Bank name & address
Sort code Account number
Please describe how the funds for your initial deposit were acquired (e.g. sale of asset)
Section 5. Financial information
(minimum £25,000)
Modern Merchant Banking
Please complete this form in BLOCK CAPITALS and then return to Close Brothers Limited, 10 Crown Place, London EC2A 4FT. All fof your application. If you have any questions, please contact us on 020 3857 3060 (Monday to Friday, 9am-5pm).
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Account holder name (please note that the account holder name must be the same as the attached bank statement(s))
Registered number (if applicable) Nature of business
Section 2. Primary contact details
The personal details of all individuals authorised to give instructions must be provided on the attached Mandate form.
FAO Contact number
Correspondence address
Postcode
Section 1. About your businessAre you an existing or previous customer? Yes No Existing customer number (if applicable)
Faster Payment
I/We confirm that the initial deposit will be sent to you by:
This rate is indicative and paid on balances from £25,000 and above. The minimum balance for the Small Business Notice Account is £25,000, which must be maintained at all times. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid and added each year.
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SECTION 5. FINANCIAL INFORMATION
Please confirm the number of employees during the current financial year
Please confirm the total balance sheet
Please confirm the annual net turnover
*Figures are based on SME criteria from the European commission.
Title Forename(s) Surname
Date of birth Current residential address (including Postcode)
Nationality
Residency
% Shareholding
Please complete this section with details of any stakeholders with an interest in the company of 25% or more.
Section 5 continued. Financial information
Section 6. Principal stakeholders
ChequeCheque
0 - 5 Greater than 5
Current principal shareholders
Title Forename(s) Surname
Date of birth Current residential address (including Postcode)
Nationality
Residency
% Shareholding
Title Forename(s) Surname
Date of birth Current residential address (including Postcode)
Nationality
Residency
% Shareholding
Title Forename(s) Surname
Date of birth Current residential address (including Postcode)
Nationality
Residency
% Shareholding
SBA April 18 Page 4 of 8
£25,000 - £100,000 £100,000 - £500,000 £500,000 - £1 millionWhat is your expected average monthly balance for your Account?
95 Day Notice Account
What is your expected number of payments into your Account on a monthly basis?
95 Day Notice Account
In order to qualify for this account, the company must meet the criteria which define a Small Business:• A UK incorporated company registered under the UK Companies Act• The number of employees during the current financial year is less than 250• The total balance sheet does not exceed £35,000,000.00* OR The annual turnover does not exceed £40,000,000.00*
£
£
Continued overleaf
Section 7. Documentation checklist
Please forward the following documents with your completed application form (original documentation may be retained):
A completed Mandate form as attached.
Page 5 of 8
A copy of a bank statement, paying in slip or voided cheque, dated within the last 3 months, confirming your nominated account for repayments as detailed in Section 4.
Purposes for which we use your personal dataThe core purposes for which we process your personal data include the following:
Exchange of information with fraud prevention agencies
Marketing
I’d like to be contacted with the latest news and offers from Close Brothers Limited by:
I’d like to be contacted with the latest news and offers from other members of the Close Brothers Group Plc relating to asset finance services, financial advisory and investment services, deposit account services and/or premium finance services by:
Please note that you can withdraw this consent at any time.
Your personal data will be collected and processed by Close Brothers Limited (CBL) referred to as “we”, “our” or “us”.
This notice is intended to provide an overview of what personal data we collect about you and why we process it. The type of personal data we collect may include your and your representatives’ name, address, e-mail address and telephone number, financial and credit card information, employment history, health information, credit history, identification records, qualifications and vehicle or asset details. You can find further information about how and why we use your personal data and the rights that you have in relation to your data at www.closetreasury.co.uk. If you have any questions about this notice, about how we process your personal data or about your rights over your personal data, please contact our Data Protection Officer at: [email protected] or DPO, Close Brothers, 10 Crown Place, London EC2A 4FT.
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Post Telephone
Telephone Email
SMS
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Section 8. Protecting your privacy
To verify your identity, assess your suitability for the products and services that you have requested, and decide whether to enter into an agreement with you, such as: carrying out checks for criminal proceedings / convictions, anti-money laundering, terrorist financing and fraud prevention checks which may include sharing personal data with fraud prevention agencies.
To manage, administer and take decisions regarding your agreement, such as: providing products and services to you, exercising our rights, and performing our obligation, in connection with the agreement, making payments and recovering monies.
Where it is necessary for our legitimate business interests, such as: improving customer service, market research, quality assurance, training staff, marketing (where we are permitted to send you promotional information), system development and statistical analysis on your personal data even if your application is declined by us or you decide not to complete your application with us.
To meet our legal and regulatory obligations.
Your personal data may be used by us to verify your identity and to allow us to detect and prevent money laundering activity as part of the account opening process for new customers.
You can find further information about how agencies such as Equifax may process your personal data at https://www.equifax.co.uk/crain.html or you can contact us to obtain a paper copy of this information.
We may use automated decision making systems to either fully or partially assess your information. The results of this decision may decide whether we provide you with our services or not. If you disagree with the results of an automated decision, you can request a review of your application.
Where you provide us with personal information belonging to a third party, you must ensure you have obtained the necessary consent in order to disclose their information and have provided them with a copy of this notice.
SBA April 18
Section 9. Acknowledgement and confirmation
For and on behalf of the Account holder 1st Authorised Official signature (Must be signed by an Authorised Officialdetailed on the Mandate)
For and on behalf of the Account holder 2nd Authorised Official signature(Must be signed by an Authorised Official detailed on the Mandate)
Print name
Date Date
Print name
Title Title
Close Brothers Treasury and Close Brothers Savings are trading styles of Close Brothers Limited (’CBL’), a subsidiary of Close Brothers Group plc. CBL is registered in England and Wales with company number 195626 and registered office at 10 Crown Place, London EC2A 4FT. Close Brothers Limited is authorised and regulated by the Financial Services Authority, firm reference number 124750. CBL is a member of the Financial Services Compensation Scheme (’FSCS’) which protects up to £85,000 of an eligible depositor’s funds held with CBL. The FSCS limit relates to the total funds held by a depositor with CBL, including their share of any joint account and not to each separate account.
Financial Services Compensation Scheme (‘FSCS’) Information Sheet and Exclusions List (mandatory)
I confirm receipt of the enclosed FSCS Information Sheet and Exclusions List.
Name of Authorised Official:
Signature of Authorised Official:
PIease note, we cannot accept your deposit without receipt of this signed acknowledgement.
Important information
Account officer CBT Page 6 of 8
All deposits with Close Brothers Limited are subject to the Customer Agreement Terms and Conditions (the ‘Customer Agreement’), a copy of which has been provided with this application form, and to any Product Conditions as detailed in our literature. The Customer Agreement and any Product Conditions form the standard customer agreement upon which we intend to rely. For your own benefit and protection you should read the Customer Agreement and Product Conditions carefully before agreeing to them by returning this application form. If you do not understand any point please ask for further information. Copies of the Customer Agreement can be downloaded from our website (www.closetreasury.co.uk) and are also available upon request by telephoning our Business Relationship team on 020 3857 3060 (Monday to Friday, 9am-5pm).
I/We apply to open the account(s) as indicated on this application form. I/We accept the Customer Agreement and any Product Conditions contained in this application form (as previously notified by us), or any other marketing material previously sent to us and confirm that the details given by us are correct and will remain in force until such time as you receive notice from us in writing to the contrary, together with any necessary revised documentation required by you.
Page 7 of 8 Continued overleafSBA April 18
Account name: (‘the Company’)
Name Position held Home telephone number Mobile telephone number Work telephone number
Email address
Residential address Postcode
Signature
Date of birth
Account mandate
Email address
Name Position held Home telephone number Mobile telephone number Work telephone number
Residential address Postcode
Signature
Date of birth
Modern Merchant Banking
In the event of a dispute, we may request an extract from the board minutes of the Company approving the appointment of the above persons as Authorised Officials.
The Directors considered the Close Brothers Limited Customer Agreement Terms and Conditions (The ‘Customer Agreement’) and other documents
Account name
At the meeting of the Board of Directors of Ltd/Plc/LLC (delete as applicable)
Company registration number (’the Company’) held on
We request that Close Brothers Limited trading as Close Brothers Treasury (’the Bank’) opens/continues to operate accounts in the Company’s name as detailed above and may open such further account(s) as we may request from time to time.
In connection with all accounts operated in the name of the Company from time to time, we set out the below names, specimen signatures and other personal information of the persons authorised to give instructions, and certify that the Company has approved the appointment of such persons as Authorised Officials.
The Company
The Company accept the terms of the Customer Agreement and confirm such acceptance to the Bank by completing the Bank’s Mandate form and the account application form(s) which Close Brothers Limited has provided.
The Company authorise any person named in this mandate in the section headed ‘Authorised Officials’ (an ‘Authorised Official’) individually to give instructions relating to the operation of the Company’s accounts, in accordance with the security procedures set out in the Customer Agreement.
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appoints the Bank as one of the Company’s bankers; orcancel the Company’s existing mandate(s) to the Bank (with the exception of any instructions given by the Company prior to receipt of this mandate) and replace it / them with the attached.
The Directors noted that the Bank is entitled to act on all instructions given by an Authorised Official in accordance with the Bank’s security procedures until the Company notifies the Bank that the Authorised Official is no longer authorised to act for it.
a.b.
Account mandate
Authorised Officials
(If you would like to add further Authorised Officials, copies of the account mandate form are available on request from our Business Relationship team, or on our website www.closetreasury.co.uk)
To verify your identity, assess your suitability for the products and services that you have requested, and decide whether to enter into an agreement with you, such as: carrying out checks for criminal proceedings / convictions, anti-money laundering, terrorist financing and fraud prevention checks which may include sharing personal data with fraud prevention agencies.
To manage, administer and take decisions regarding your agreement, such as: providing products and services to you, exercising our rights, and performing our obligation, in connection with the agreement, making payments and recovering monies.
Where it is necessary for our legitimate business interests, such as: improving customer service, market research, quality assurance, training staff, marketing (where we are permitted to send you promotional information), system development and statistical analysis on your personal data even if your application is declined by us or you decide not to complete your application with us.
To meet our legal and regulatory obligations.
Exchange of information with fraud prevention agenciesYour personal data may be used by us to verify your identity and to allow us to detect and prevent money laundering activity as part of the account opening process for new customers.
You can find further information about how agencies such as Equifax may process your personal data at https://www.equifax.co.uk/crain.html or you can contact us to obtain a paper copy of this information.
We may use automated decision making systems to either fully or partially assess your information. The results of this decision may decide whether we provide you with our services or not. If you disagree with the results of an automated decision, you can request a review of your application.
Where you provide us with personal information belonging to a third party, you must ensure you have obtained the necessary consent in order to disclose their information and have provided them with a copy of this notice.
Your personal data will be collected and processed by Close Brothers Limited (CBL) referred to as “we”, “our” or “us”.
This notice is intended to provide an overview of what personal data we collect about you and why we process it. The type of personal data we collect may include your and your representatives’ name, address, email address and telephone number, financial and credit card information, employment history, health information, credit history, identification records, qualifications and vehicle or asset details. You can find further information about how and why we use your personal data and the rights that you have in relation to your data at www.closetreasury.co.uk. If you have any questions about this notice, about how we process your personal data or about your rights over your personal data, please contact our Data Protection Officer at: [email protected] or DPO, Close Brothers, 10 Crown Place, London EC2A 4FT.
Purposes for which we use your personal dataThe core purposes for which we process your personal data inclide the following:
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Protecting your privacy
We certify the above to be a true extract from the Minutes and that the specimen signatures recorded on this Mandate are correct.
Two signatures must be provided on behalf of the Company.
For and on behalf of the Company Director / Company Secretary(Must be signed by an Authorised Official detailed on the Mandate)
For and on behalf of the Company Director / Company Secretary(Must be signed by an Authorised Official detailed on the Mandate)
Print name Print name
Date Date
Page 8 of 8SBA April 18
Close Brothers Treasury and Close Brothers Savings are trading styles of Close Brothers Limited (’CBL’), a subsidiary of Close Brothers Group plc. CBL is registered in England and Wales with company number 195626 and registered office at 10 Crown Place, London EC2A 4FT. Close Brothers Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority, firm reference number 124750. CBL is a member of the Financial Services Compensation Scheme (’FSCS’) which protects up to £85,000 of an eligible depositor’s funds held with CBL. The FSCS limit relates to the total funds held by a depositor with CBL, including their share of any joint account and not to each separate account.
Title (delete as appropriate) Director / Company Secretary Title (delete as appropriate) Director / Company Secretary
Instructions to amend customer static data can only be provided to the Bank in writing and must be signed by an Authorised Official. Fax, email or telephone requests will not be accepted. Instructions to make payments on an account can be provided by Authorised Officials in any way permitted by the Agreement.
It is the responsibility of the Company to advise the Bank of any changes to your Authorised Officials. The Authorised Officials will remain in place until such time as you update us and confirm the removal, or addition of Authorised Officials. Any amendments to Authorised Officials must be made by providing the Bank with an updated Account Mandate form.
Certification
Customer copy
(please retain)
Page 1 of 2
Continue overleaf
Information Sheet and Exclusions List
General limit of protection2
Scheme responsible for the protection of your deposit
Additional information1
Your eligible deposit is covered by a statutory Deposit Guarantee Scheme. If insolvency of your bank, building society or credit union should occur, your eligible deposits would be repaid up to £85,000 by the Deposit Guarantee Scheme.
Basic information about the protection of your eligible deposits
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Eligible deposits in Close Brothers Limited are protected by:
Limit of protection:
If you have more eligible deposits at the same bank / building society / credit union:
If you have a joint account with other person(s):
Reimbursement period in case of bank, building society or credit union’s failure:
Currency of reimbursement:
To contact Close Brothers Limited for enquiries relating to your account:
To contact the FSCS for further information on compensation:
More information:
the Financial Services Compensation Scheme (“FSCS”)
£85,000 per depositor per bank / building society / credit union
The following trading names are part of your bank / building society / credit union:
Close Brothers Treasury and Close Brothers Savings are trading styles of Close Brothers Limited (‘CBL’), a subsidiary of Close Brothers Group plc.
All your eligible deposits at the same bank / building society / credit union are “aggregated” and the total is subject to the limit of £85,000.
The limit of £85,000 applies to each depositor separately.
20 working days
Pound sterling (GBP, £) or, for branches of UK banks operating in other EEA Member States, the currency of that State.
Close Brothers Limited4th Floor10 Crown PlaceLondonEC2A 4FT
Tel: 020 3857 3050
Financial Services Compensation Scheme10th Floor Beaufort House15 St Botolph StreetLondonEC3A 7QU
Tel: 0800 678 1100 or 020 7741 4100
Email: [email protected]
http://www.fscs.org.uk
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If a covered deposit is unavailable because a bank, building society or credit union is unable to meet its financial obligations, depositors are repaid by a Deposit Guarantee Scheme. This repayment covers at maximum £85,000 per bank, building society or credit union. This means that all eligible deposits at the same bank, building society or credit union are added up in order to determine the coverage level. If, for instance a depositor holds a savings account with £80,000 and a current account with £20,000, he or she will only be repaid £85,000.
In some cases eligible deposits which are categorised as “temporary high balances” are protected above £85,000 for six months after the amount has been credited or from the moment when such eligible deposits become legally transferable. These are eligible deposits connected with certain events including:
(a) certain transactions relating to the depositor’s current or prospective only or main residence or dwelling;(b) a death, or the depositor’s marriage or civil partnership, divorce, retirement, dismissal, redundancy or invalidity;(c) the payment to the depositor of insurance benefits or compensation for criminal injuries or wrongful conviction.
More information can be obtained under http://www.fscs.org.uk.
Financial Services Compensation Scheme
Please retain this FSCS Information Sheet and Exclusions List for your records.
This method will also be applied if a bank, building society or credit union operates under different trading names. Close Brothers Limited also
trades under Close Brothers Treasury and Close Brothers Savings. This means that all eligible deposits with one or more of these trading namesare in total covered up to £85,000.
Merchant BankingnModer
Page 2 of 2
Limit of protection for joint accounts3
In case of joint accounts, the limit of £85,000 applies to each depositor.
However, eligible deposits in an account to which two or more persons are entitled as members of a business partnership, association or grouping of a similar nature, without legal personality, are aggregated and treated as if made by a single depositor for the purpose of calculating the limit of £85,000.
Reimbursement4
The responsible Deposit Guarantee Scheme is the Financial Services Compensation Scheme, 10th Floor Beaufort House, 15 St Botolph Street, London, EC3A 7QU, Tel: 0800 678 1100 or 020 7741 4100, Email: [email protected]. It will repay your eligible deposits (up to £85,000) within 20 working days until 31 December 2018; within 15 working days from 1 January 2019 until 31 December 2020; within 10 working days from 1 January 2021 to 31 December 2023; and within 7 working days from 1 January 2024 onwards, save where specific exceptions apply.
Other important information
In general, all retail depositors and businesses are covered by Deposit Guarantee Schemes. Exceptions for certain deposits are stated on the website of the responsible Deposit Guarantee Scheme. Your bank, building society or credit union will also inform you of any exclusions from protection which may apply. If deposits are eligible, the bank, building society or credit union shall also confirm this on the statement of account.
Other important information
Exclusions list
If you have not been repaid within these deadlines, you should contact the Deposit Guarantee Scheme since the time to claim reimbursement may be barred after a certain time limit. Further information can be obtained under http://www.fscs.org.uk.
Where the FSCS cannot make the repayable amount available within 7 working days, it will, from 1 June 2016 until 31 December 2023, ensure that you have access to an appropriate amount of your covered deposits to cover the cost of living (in the case of a depositor which is an individual) or to cover necessary business expenses or operating costswithin 5
(in the case of a depositor which is not an individual or a large company) working days of a request.
A deposit is excluded from protection if:
(1) The holder and any beneficial owner of the deposit have never been identified in accordance with money laundering requirements. For further information, contact your bank, bank building society or credit union.
(2) The deposit arises out of transactions in connection with which there has been a criminal conviction for money laundering.
(3) It is a deposit made by a depositor which is one of the following:
• credit institution• financial institution• investment firm• insurance undertaking• reinsurance undertaking• collective investment undertaking• pension or retirement fund1
• public authority, other than a small local authority
For further information about exclusions, refer to the FSCS website at www.FSCS.org.uk
1Deposits by personal pension schemes, stakeholder pension schemes and occupational pension schemes of micro, small and medium sized enterprises are not excluded.
