Terms & conditions - The Co-operative Bank

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18. Duration/Closing or Cancellingyour Account18.1 This agreement does not have a fixed orminimum duration.18.2 You can end this agreement and close your accountby writing to us at The Co-operative Bank p.l.c.,P.O. Box 200, Delf House, Skelmersdale WN8 6GH.18.3 We can end this agreement and close your accountat any time but we will give you at least two months’notice unless there are serious circumstances (e.g. fraudinvestigation or where you seriously or repeatedly breakthis agreement) which justify us closing your accountwith less notice. Please note if you are not amicro-enterprise or charity please see condition 23.9.18.4 When you or we close your account we will pay to you anymoney credited to your account and you must repay us anymoney owed to us including payments we have made afterclosure and any interest and charges you have incurred.18.5 For 14 calendar days after the date you have receivedyour welcome letter or the account is opened, whicheveris the latter, you have a right to cancel and close youraccount without giving any reason. You can do thisby writing to us at The Co-operative Bank p.l.c.,P.O. Box 200, Delf House, Skelmersdale WN8 6GH.18.6 When you cancel your account:14• we will pay to you any money credited to your accountand if applicable any interest earned within30 calendar days of cancellation• where applicable we will refund any accountsubscription charge• you must repay to us any money owed to us for anyother services and interest charges you have incurred• you must repay to us any money owed to us includingpayments we have had to pay after cancellation.19. Customer Responsibilities19.1 You shall provide to the bank all such financial andaccounting information as the bank shall request andfailure to do so may be regarded as a serious breach ofthese conditions.19.2 You must notify the bank immediately of any change in:• business/email address and telephone number• directors/members or designated members/committee members/trustees/governors/secretaries/partnerships• authorised signatories• nominated online banking users or cardholders andsuch notification must be validly signed in accordancewith the bank’s existing mandate. Where in law, thelegal status of the customer’s business (for example,a limited company) requires a resolution to effectsuch changes, a copy of this resolution (or otherappropriate authority) must accompany thewritten notification.19.3 If you ask the bank to accept instructions by fax (includingwith a facsimile or lithograph signature), email (and anysigned attachments in whatever format) or telephone,then in consideration of the bank agreeing to acceptinstructions in this way, you agree to indemnify the bankfrom and against all actions, proceedings, claims anddemands which may be brought against the bank andall losses, costs, charges, damages and expenses whichthe bank may incur, or for which it may become liable byreason of its having acted on any such instruction fromyou, or an authorised signatory (notwithstanding that anysuch instruction may not have been duly authorised byyou). 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.20. Ethical Policy20.1 The bank’s Ethical Policy means the policy as to how itscustomers’ money should and should not be investedand has been formulated by the bank following extensiveconsultation with its customers. The policy is subject tochange by the bank from time to time. Full details areavailable on our website.20.2 As the Ethical Policy is one of the guiding principleswhich determines how the bank conducts its business,it is a condition of the account that you, as the customer,conduct your business in a way that complies with theEthical Policy.20.3 You must notify us in the event of any proposed or effectedchange(s) in your circumstances or working practiceswhich may impact upon the bank’s Ethical Policy.20.4 The bank reserves the right:• to reject any application which reveals informationwhich conflicts with the Ethical Policy, or• to give notice to you of closure of your account at itssole discretion if it believes that you are no longeracting or conducting your business in a way thatcomplies with the bank’s Ethical Policy.21. Additional Conditions Applying toPartnerships Only21.1 In the event that you are a partnership, the partnerswill be jointly and severally liable for all monies due andowing to the bank.21.2 If any partner within a partnership tells us of a disputebetween any of you, we may block or suspend theaccount and any cheques, payments or withdrawals madebefore we are told of the dispute may still be paid.
Any further payments or withdrawals will need theauthority of all partners. Use of additional services,such as telephone or online banking, may be suspended.We may also ask for the return of your cards andunused cheques.21.3 In the event of the death of any of you, the account willbe amended to reflect the requirements included inyour Partnership Deed which you must provide to us assoon as reasonably possible following notification. In theabsence of a Partnership Deed the Partnership Act willapply. We may also require you to provide to us detailsof Probate.22. ChangesPlease note if you are not a micro-enterprise or charity please seecondition 23.10 in respect of changes to your account.Changes to our service or these conditions22.1 We may make changes to the services or conditionsof this account and we may introduce new services orconditions. Changes may be to the services or theseconditions for the following reasons:• to make these conditions easier to understand orfairer to you• to correct mistakes, ambiguities, inaccuracies oromissions where it is reasonable to do so or as aresult of customer feedback• to make improvements to the services we providewhich are of benefit to you• to reflect changes in security design or technology atno increased cost to you• to respond to changes in the law, codes of practice,industry-wide fraud prevention practices, court orombudsman decisions or new regulatory requirementsor practice• to respond to changes in the general retail practicesof banks and other organisations offering similarservices including the terms on which they offersimilar products• to take account of any change in our ownership orto reflect a reorganisation of our business as a resultof it being acquired or merging with another bank ororganisation to make sure that our customers and thecustomers of the other organisation are treated in asimilar way if they have a similar product• if we reasonably believe the change is necessary inthe interests of our business as a whole, for exampleto protect our financial strength• to respond to changes in your credit assessment orwhere your card or account has not been used for12 months.If we make changes to our payment services orconditions relating to those payment services (includingconditions 3 to 12, 14 to 18, 22, 24.3, 24.7 and 24.8)for the reasons listed above we will tell you of any changeby personal notice at least two months before we makethe change. The new service or conditions will applyto your account automatically. However, if you do notagree to such a change you can, at any time up to twomonths from the date we tell you of the change switchyour account or close it immediately without paying anyextra charges or interest. If you do not switch or closeyour account you will be deemed to have accepted thechange. Remember you can close your account at anytime if you wish (see condition 18).For all other changes to our services or conditions for thereasons listed above:• where the change is more favourable to you we willtell you of any change within 30 days of the changebeing made in national press advertisements,statement messages or statement inserts. The changewill apply to your account automatically from the dateof the change• where the change we make is not favourable to you wewill tell you of any change by personal notice at least30 days before we make the change. The new serviceor conditions will apply to your account automatically.However, if you do not agree to such a change youcan, at any time up to 60 days from the date we tellyou of the change, switch your account or close itwithout paying any extra charges or interest. If you donot switch or close your account you will be deemed tohave accepted the change. Remember you can closeyour account at any time if you want (see condition 18).Changes to our charges22.2 In addition to the reasons listed above we can make anychanges to the charges applicable to the accountor introduce new charges for the followingadditional reasons:• to respond to reasonable cost increases or reductionsassociated with providing the particular servicesto you• to respond to changes made in the charges applied byour competitors in the retail financial services marketoffering similar services to customers withsimilar products.If we make changes to our payment services charges(including any charges detailed in conditions 3 to 12 and14 to 17) for the reasons listed above or under condition22.1 we will tell you about it by personal notice at leasttwo months before we make the change. The changewill apply to your account automatically. However, if15
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Terms & conditions - The Co-operative Bank

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