formal overdraft rather than make several requests for anunplanned overdraft. If we agree to your request we willtell you your formal overdraft limit and confirm the termsof your overdraft in writing.13.2 If you seek to make a payment or withdrawal from youraccount which would cause you to become overdrawnand there is no formal overdraft limit in place, or thepayment or withdrawal would cause you to exceed aformal overdraft limit, this will be treated as a requestfor an unplanned overdraft. It is within our discretionwhether to accept and pay it. If we pay it and allow anunplanned overdraft, this will not mean that your formaloverdraft limit, if you have one, has changed, nor that weare bound to make any other payment which would havesimilar effect.13.3 If you use unplanned overdraft services, especially ona frequent basis, it can be a cause for concern to usregarding your business.13.4 In the case of multiple account holders, in applying forthis account you agree that an application by one of youfor an overdraft on the account we may provide oralprecontractual information to one of you only prior to theoverdraft being agreed. In this case any overdraft termswill be sent to joint account holders after the overdraft isagreed and available for use.13.5 It is your responsibility to make sure you have availablefunds in your account to cover any payments you haverequested. If we do not agree to your request for anunplanned overdraft, or to an increase in your formaloverdraft limit, the payment will not be made and we willcharge you an unpaid item fee as set out in youraccount tariff.13.6 Where we agree to make any payment you haverequested under condition 13.2, you agree to immediatelypay into your account enough money to bring youraccount into credit or within any formal overdraft limit.13.7 We may at any time amend any formal overdraft limiton your account, subject to these <strong>conditions</strong> and togiving you notice. Where you have an overdraft which isrepayable on demand we will not give you notice.13.8 You agree to repay all amounts owed to us at the end ofany formal overdraft term or immediately on our writtendemand. Any written demand will be sent by first classpost to the address you last notified to us and will betreated as having been received by you two days afterposting. We will normally give you warning that youroverdraft must be repaid or its limit reduced, but wemay ask for repayment or reduction immediately, if youroverdraft is repayable on demand. Until repayment, youwill continue to pay interest and charges both before andafter any court order in our favour for repayment.1013.9 Interest on an overdraft is calculated on the unclearedbalance each day and deducted on the 5th of eachmonth or the nearest business day before; or on theappropriate charging day, if charged quarterly or atdifferent times agreed with us. We will give you atleast 16 days’ notice of any debit interest which hasaccumulated on the account before deducting it fromyour account.13.10 If any accounts you hold with us are in credit, we mayuse them to reduce or repay any amounts you oweon other accounts you hold with us in the same name(including any charge card, loan or other amounts).This is called set-off and we will advise you as soon aspossible afterwards when we have done this.13.11 <strong>The</strong> charges for our overdraft services may be variedunder condition 22 and are explained and set out in youraccount tariff which forms part of these <strong>conditions</strong>.13.12 You are responsible for any money you owe us, whetherthis is as a result of your own actions or someoneauthorised by you.13.13 Once we have agreed to provide you with a formaloverdraft you have a right to cancel it within 14 days.If you wish to do so please write to us at CustomerServices, <strong>The</strong> <strong>Co</strong>-<strong>operative</strong> <strong>Bank</strong> p.l.c., Delf House,Skelmersdale WN8 6GH or telephone us on08457 213 213 (Business <strong>Bank</strong>ing Accounts) or08457 654 654 (<strong>Co</strong>rporate <strong>Bank</strong>ing Accounts). If youdecide to cancel you must immediately repay us the fullamount you owe us including any interest or charges.If you do not cancel you are still free to end your overdraftat any time by repaying all amounts owed to us.13.14 Each partner within a partnership will be jointly andseverally responsible to us for any debts which mayarise on the account. This means you are all responsibleindividually as well as together for the full amount dueto us. This includes amounts you did not know about ordisapproved of.14. Charges14.1 When you open an account, we will give you youraccount tariff, which forms part of these <strong>conditions</strong>.This includes details of interest rates and the charges forour services. You can also find out about these chargeson our website or by telephoning us on08457 213 213 (Business <strong>Bank</strong>ing accounts) or08457 654 654 (<strong>Co</strong>rporate <strong>Bank</strong>ing accounts).14.2 <strong>The</strong> charges will be debited to the account on the 5thday of each month or the nearest business day beforethe 5th; or on the appropriate charging day if you arecharged quarterly, or at different times agreed withus. We will give you at least 16 days’ notice of anycharges which have accumulated on the account before
deducting them from your account unless they relateto a special service fee as set out in your account tariff,where they will be deducted immediately.14.3 Where deposits are made through other banks, the bankreserves the right to deduct from the account the amountof any interbank charges which may be incurred by thebank in respect of these transactions.14.4 We may vary our charges or introduce any new fees orcharges in accordance with condition 22. Please noteif you are not a micro-enterprise or charity please seecondition 23.8.15. Interest15.1 Unless otherwise stated in these <strong>conditions</strong>, if youraccount is interest-bearing, interest will be calculatedfrom the day we receive cleared funds for payment intoyour account. We will calculate interest on a daily basison available money in your account.15.2 Debit interest is calculated daily on the uncleared debitbalance on the account.15.3 <strong>The</strong> bank will give you at least 16 days’ notice of anydebit interest which has accumulated on the accountbefore deducting it from your account.15.4 Interest rate details are available in your account tariff, oron the internet or via telephone banking.15.5 We may vary interest rates in accordance withcondition 22.16. Statements16.1 We will send you regular statements showing the balanceof your account, details to enable you to identify eachtransaction and any charges. <strong>The</strong>se details are alsoavailable via telephone and online banking.16.2 Please ensure you check your statement and tell us assoon as possible if there is an item you do not recognise.We will investigate in the manner set out in condition 9.16.3 We can make available to you any further informationwhich we hold in relation to any transaction on youraccount and this can be requested by you contacting usvia telephone banking.16.4 We may charge you for copy, duplicate and frequentstatements or other information, unless prevented fromdoing so by law. Our charges are set out in youraccount tariff.16.5 We reserve the right to suspend statements wherethere have been no transactions on the account for theprevious six months.16.6 You consent to communication with the bank by whatevermeans including, but not limited to, fax, email (and anysigned attachments in whatever format), internet andtelephone, in connection with the account.17. Telephone and Online <strong>Bank</strong>ing Service17.1 You can use telephone and online banking to transactupon your account or the account of someone which youhave been authorised by the account holder to operate,e.g. because they have signed a third party mandateor you have been granted a power of attorney. Use oftelephone and the business online banking service isin accordance with these <strong>conditions</strong> and you will needto register a pass-number, security code and securepersonal information to use these services.Telephone banking17.2 You can contact us via telephone banking:Pass number• for Business <strong>Bank</strong>ing accounts on 08457 213 213,lines are open 24 hours a day, 7 days a week,apart from Christmas Day. Our automated service isavailable 24 hours a day• for <strong>Co</strong>rporate <strong>Bank</strong>ing accounts on 08457 654 654,lines are open Monday to Friday 8am to 5pm.Calls may be recorded and/or monitored to enhancesecurity, resolve complaints, improve customer serviceand for staff training purposes.17.3 You must select a four-digit pass number for use whentelephoning the bank.17.4 At the beginning of any telephone conversation betweenthe bank and you, whether incoming to the bank oroutgoing from the bank, you must confirm part of yourpass-number when asked to do so for customer securitypurposes. <strong>The</strong> bank cannot discuss or receive anyinstructions in relation to your account until thepass-number has been correctly confirmed.17.5 You must ensure that the pass-number is keptconfidential at all times to prevent an unauthorisedperson from using telephone banking.17.6 If you or an authorised person knows or suspects thatsomeone else knows your pass-number, you shouldimmediately contact the bank. <strong>The</strong> bank will then be ableto allocate a new pass-number on completion by you of anew registration form.17.7 If you fail to contact the bank as required under<strong>Co</strong>ndition 17.6, you will indemnify the bank from andagainst all actions, proceedings, claims and demandswhich may be brought against the bank and all losses,costs, charges, damages and expenses which the bankmay incur or for which it may become liable by reason ofyour failing to notify the bank as required under condition17.6. You will also indemnify the bank on a full indemnitybasis for legal fees and all other collection costs andexpenses incurred in the enforcement of this indemnity.11