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These terms and conditions (hereinafter the “Terms and Conditions”) are applied to and govern the use of your Izola Saver Accounts (as defined in clause 2 below) and your Izola Saver + Accounts (as defined in clause 2 below). These Terms and Conditions, which may be amended as stipulated in clause 23, govern the relationship between Izola Bank p.l.c., whose registered office is at 53-58 East Street Valletta, Malta, company registration number C16343 and the client making use of the Izola Saver Accounts and/or the Izola Saver + Account (hereinafter referred to as the “Client” or “you”).
These Terms and Conditions should be read in conjunction with the Izola Bank General Terms and Conditions and App Terms of Use. In the event of a conflict between the Izola Bank General Terms and Conditions and the Terms and Conditions, the Terms and Conditions shall prevail.
In these Terms and Conditions, unless the context otherwise requires, the following terms shall have the meanings ascribed to them hereunder:
Account: means the Izola Saver Account or the Izola Saver+ Account, as the case may be.
Account Opening Form: means the online application form to be completed by the Client for the purposes of opening an Account with the Bank and accessible by the Client from the Website.
Bank, we or us: means Izola Bank plc, a public limited liability company with registration number C16343 and whose registered office is at 53-58 East Street Valletta, Malta.
Business Day: means a day when the Bank is open for business in Malta.
Customer ID: means the eight-digit number assigned uniquely to you for the purpose of enabling you to logon to your Izola Saver Account. Your Customer ID is provided as soon as you have submitted the Account Opening Form. You will retain the same Customer ID if you open additional Izola Saver Accounts. If a joint account is opened, each Izola Saver Account holder will have his/her own unique Customer ID.
Eligible Institution: means a credit institution licensed to carry on the business of banking in Malta, Belgium or France.
EUR or €: means the lawful currency of any member state of the European Community that adopts or has adopted the euro (€) as its lawful currency in accordance with legislation of the European Community relating to Economic and Monetary Union.
Initial Deposit: means a minimum amount of EUR 25.
Internet Banking: means the secure pages of our Website where you will have access to your Account/s.
Izola Saver Mobile App: means the secure pages of our mobile application where you will have access to your Account/s.
Izola Saver Account: means an online-only savings account with a variable rate of interest held by the Bank in the Client’s name in accordance with the Terms and Conditions.
Izola Saver+ Account: means an online-only fixed term deposit account held by the Bank in the Client’s name in accordance with the Terms and Conditions.
Help Centre: means the support staff of the Bank who may be reached by telephone, chat or email. Our Help Centre is open from Monday to Friday (08:00 hrs to 17:00 hrs CET) on Business Days.
Principal Account: means an existing bank account held in your name with an Eligible Institution established in Malta, Belgium or France, depending on your residency, and designated as your ‘Principal Account’. You will be asked to enter the International Bank Account Number (IBAN) number of this bank account during your Account Opening Form.
Security Information: means the Customer ID, and secret question/answer referred to in clause 5
SEPA Direct Debit: means the mandate form authorising the Bank to send a direct debit request to your Eligible Institution with which the Principal Account is held and requesting such Eligible Institution to debit your Principal Account and transfer funds to your Izola Saver Account.
Website: means www.izolabank.com or any other website that may be notified from time to time by the Bank to the Client.
You will receive an annual paper statement of your Izola Saver account after each year end which will list all transactions into or out of the account for the preceding 12-month period. You are obliged to review this statement carefully and inform us immediately of any inaccuracies. We will promptly investigate and rectify any mistakes which may have occurred. If you do not contact us with any objection within 60 days from dispatch to you of the statement, we will assume that you have accepted the contents of this statement.
There are no fees or charges for opening or maintaining an Izola Saver Account.
or
We will not issue any confirmations on the opening of Izola Saver+ Accounts. You can view your Izola Saver+ Accounts from the “Account Overview” screen through our Internet Banking or Izola Saver Mobile App. All accounting entries in relation to your Izola Saver+ Account can be seen through our Internet Banking or Izola Saver Mobile App in the “Transaction History” screen, or on the annual statement provided for the Izola Saver Account you selected as the source account when you opened the Izola Saver+ Account.
There are no fees or charges for opening or maintaining an Izola Saver+ Account.
We will do our utmost to prevent unauthorised access to your Izola Saver Account. We reserve the right to immediately block all access to your Izola Saver Account if we have reason to believe there has been, or there is a real threat of, an attempt at unauthorised access.
You must read the Security page before accessing Internet Banking. You recognise that Internet Banking is accessed via the internet which is a public system over which we have no control. It is your duty to ensure that any computer, tablet or other device which you use to access Internet Banking is free from and adequately protected against computer viruses.
We will not be responsible for any loss or damage to your software, computer, computer networks, data or other equipment caused by using Internet Banking or Izola Saver Mobile App, unless such loss or damage is directly and solely caused by the Bank’s gross negligence.
Procedure if you forget your Customer ID or Personalised PIN code
You should contact our Help Centre. The Bank’s staff will ask you a few questions to verify your identity. If the answers are correct, the Bank’s staff will provide you with your Customer ID and you will receive an email with a new activation code.
We have to suspend Internet Banking access from time to time in order to carry out routine or emergency maintenance work. We shall always endeavour to give you advance notice of any interruption in service by means of a notification on the Website or by sending you an email.
We agree to communicate by phone, email, chat or by post. Our mailing address is Izola Bank p.l.c., 58 East Street, Valletta VLT1251, Malta. We will contact you using the most recent phone, email or postal address you provided. You undertake to inform us immediately of any change to these details by contacting our Help Centre.
To the fullest extent permitted by law, and except to the extent that loss or damage is caused directly by the Bank’s gross negligence or wilful misconduct, the Bank shall not be liable to you for any loss or damage that you may suffer as a result of the use of the Bank’s products or the Bank’s services. In particular, but without limiting the generality of the foregoing, the Bank will not be liable for the delay in performing or failure to perform the obligations hereunder if the delay or failure results from events or circumstances outside the Bank’s reasonable control.
The Bank shall not be liable for any loss or damage caused to you resulting directly or indirectly from events of force majeure or measures taken by local or foreign legal or regulatory authorities.
The Bank shall not be liable for any direct or indirect loss of profit, goodwill, business, nor for any indirect or consequential loss or damage.
You shall indemnify and hold the Bank harmless from any loss or damage suffered by any person as a result of your breach of any of these Terms and Conditions.
The Bank shall not communicate to a third party any confidential information relating to you, your assets, or the income and profits generated by the assets held in accounts, unless you have expressly authorised it to do so or as required by law.
The Bank will not be held responsible for divulging confidential information about you or your Izola Saver or Izola Saver+ Account/s to an unauthorised person over the phone if such person is able to supply us with the information, we would normally request to identify you such as the secret answer to a question and other personal information.
During the supply of the services specified in these Terms and Conditions, the Bank may process your personal data according to the requirements of the Data Protection Act (Cap. 440 of the Laws of Malta). You may have disclosed such data to the Bank in any manner and primarily through completion of the Account Opening Form or other forms. Any processing of your personal data will be used for the following purposes:
As permitted or required by law, the Bank may disclose your information to Governmental bodies and agencies or regulators. Personal data in relation to transactions effected via SWIFT (Society for Worldwide Interbank Financial Telecommunication) may be required to be disclosed to the United States authorities in order to comply with legal requirements applicable in the United States for the prevention of crime.
Your personal data may be disclosed to or exchanged with all employees of the Bank, its associates and agents for the above purposes only and according to the rules of the data protection regulations issued by the Bank.
You have the right to request the Bank to inform you about your personal data held and processed and to request its correction where necessary. Furthermore, following the opening of an Account and during the course of the relationship between you and the Bank, you may, by accessing our internet banking, modify your preferences and request the Bank to refrain from using your details for the purposes of direct marketing.
Whilst the Bank may periodically request you to re-confirm your data, you should inform the Bank immediately if such data has changed.
Complaints may be sent to us by regular postal letter or by email via our Help Centre. We will try and resolve your complaint as soon as possible and we shall employ our best efforts to provide a reply to all complaints within a maximum period of two working days. In any event, if a complaint requires the divulging of Account details, the Bank shall, for security reasons, reply through the normal postal mail. When lodging a complaint, you should supply the Bank with as many details as possible.
In the event you are not satisfied with our reply you may refer the matter to the Arbiter for Financial Services by writing to:
Office of the Arbiter for Financial Services,
First Floor, St Calcedonius Square,
Floriana, FRN5130,
Malta
Or by visiting the Arbiter for Financial Services website
You certify that the assets placed or to be placed in the Account are or shall be the product of legitimate activity, and that the Account shall not be used for money laundering purposes.
The Bank shall not accept any liability for the transmission of information of whatever nature to the FIAU (Financial Intelligence Analysis Unit) Malta on its own initiative or on request.
All Izola Saver Accounts and Izola Saver+ Accounts are eligible for cover by the Depositor Compensation Scheme.
The Bank is a participant in the Depositor Compensation Scheme as established in terms of the Depositor Compensation Scheme Regulations (Legal Notice 369 of 2003) as amended. Subject to the conditions imposed by the Scheme, balances on accounts denominated in Euro or in any other currency of an EEA State held with the Bank are guaranteed up to a maximum of EUR 100,000 or its equivalent in any other EEA currency per person. More information can be obtained from www.compensationschemes.org.mt.
Information provided in the Terms and Conditions is general in nature and does not take into account your financial situation or investment requirements. Nothing in these Terms and Conditions or any other documentation supplied by the Bank to you should be construed as a solicitation, offer or recommendation, to acquire or dispose of any investment, product or service or to provide any investment advice or service. Nothing contained in any aforementioned documentation constitutes investment, legal, tax or other advice and is not to be relied on in making an investment or other decision. You should obtain relevant and specific professional advice before making any investment decision.
You irrevocably authorise the Bank to correct errors or reverse any entries on your Account made in error, automatically and without prior notice or authorisation.
We shall assume that the relationship established between us shall persist until you advise us that you wish to terminate such relationship or, in the case of individual customers, that you are deceased. In the latter case, the Bank shall take instructions relating to the Account/s from the heirs/legatees of your estate. We will need to establish the proper entitlement and authority of such person/s, at your expense, and shall not be bound to act until such time as we are satisfied with such entitlement and authority. All payments made from the Account/s before receipt of the written notice of death will be valid and binding on the heirs/legatees.
We reserve the right, at our sole discretion to terminate the provision of any Account/s at any time by sending you a notice in writing specifying the date on which such termination shall take place. We shall provide you with reasonable notice of our intention to terminate the provision of your Account/s and in all cases such notice shall not be less than sixty days.
Unless required to do so under any legal or statutory requirement, we will not close an existing Izola Saver+ Account prior to the maturity of the relevant Account.
Any Account opened with the Bank is not transferable, unless this is transferred causa mortis upon your decease, or unless we give our prior written consent thereto. We may also transfer your Account when we are required to do so in terms of any applicable law, or when we are ordered to do so by any competent court, tribunal, or administrative body, provided that in any of these cases we may, at our sole discretion, terminate any of your Accounts in accordance with clause 22.
The present Terms and Conditions may be amended by the Bank at any time.
You shall be advised by the Bank through email or regular postal letter of any amendment to the Terms & Conditions.
Unless legal or statutory requirements specify otherwise, the amended Terms & Conditions shall enter into force sixty days after the date of the notification.
Each of the provisions of these Terms and Conditions is severable from the others, and if at any time any one or more of such provisions, is or becomes illegal, invalid or unenforceable, the validity, legality and enforceability of the remaining provisions of these Terms and Conditions shall not in any way be affected or impaired.
Izola Bank p.l.c. is a credit institution established as a public limited liability company under the laws of Malta and registered with the Maltese Registrar of Companies with company registration number C16343 and with its registered address at 53-58 East Street Valletta.
The Bank’s main business is the provision of banking services and Izola Bank p.l.c. is licensed as a credit institution by the Malta Financial Services Authority, Notabile Road, Attard, BKR4000, Malta, website: www.mfsa.com.mt.
The Bank’s principal place of business is 53-58 East Street Valletta, Contact Details: +356 21241258 and this is also the contact address for the purpose of your Account agreement with the Bank.
You may withdraw from your agreement within 14 days of the date on which the Account is opened by giving the Bank written notice of your wish to close the Account and cancel the agreement. To give effect to your right to cancel, you should write or deliver a letter to the Bank. If you do not exercise this right to cancel, the Bank will assume you agree to continue to be bound by the terms and conditions of the agreement. This right to cancel only applies where all aspects of the Account application process have taken place away from the business premises of the Bank.
Certain information contained in the Terms and Conditions is relevant to you only if you are dealing or have dealt with us at a distance, e.g. over the internet, by email, by telephone, by post and by other non-face-to-face means. This information is supplied to you in accordance with the Bank’s obligations under the Distance Selling (Retail Financial Services) Regulations of 2005 issued by Legal Notice 36 of 2005, as amended by Legal Notice 116 of 2006. These regulations are only applicable to consumers, that is, customers whose Account is of a personal, and not business, nature.
The present Terms and Conditions and, unless agreed otherwise, all the Bank’s and your rights and obligations shall be subject to Maltese law. The Courts of Malta shall have exclusive jurisdiction over all claims or disputes arising in the event of litigation
INTRODUCTION
These Terms and Conditions, which are liable to amendment as stipulated in Article 16, govern the relationship between Izola Bank p.l.c., whose registered office is at 53-58 East Street Valletta Malta, company registration number C16343 (hereinafter referred to as the ‘Bank’) and its customers (hereinafter referred to as the ‘Customers’), subject to provisions to the contrary arising from agreements or specific conditions that prevail over those of the present text.
By applying for and making use of the Bank’s products and services, the Customer accepts the provisions of the Terms and Conditions, as may be amended from time to time.
These conditions shall be valid for all Customers.
The Bank’s products and services may be subject to separate specific terms and conditions that govern their use.
DEFINITIONS
In these Terms and Conditions, unless the context otherwise requires, the following terms shall have the meanings ascribed to them hereunder:
‘Account’: means the term deposit account held by the Bank in the Customer’s name
‘Account Application Form’: means the Bank’s Term Deposit Application Form whereby Customers may apply to open an Account with the Bank.
‘Address’: means the Customer’s address, that is, (a) the residence/registered office of the Customer indicated in the Account Application Form, (b) any other address indicated by the Customer in the Account Application Form as a correspondence address, or (c) in the event of a change to the address, any address Notified by the Customer to the Bank.
‘Confirmation’: means a written statement which will be Notified by the Bank to the Customer on the opening of the Account confirming the details of the term deposit.
‘Customer’: means an individual or corporate entity, that has submitted an Account Application Form to the Bank, which has been accepted by the Bank, and for which the Bank has opened an Account.
‘Day’: means a day on which the Bank opens for business in Malta.
‘Instructions’: means all payments, instructions, orders, applications, other declarations of interest and messages submitted by the Customer to the Bank.
‘Notification’: means any correspondence sent by the Bank to the Customer, or vice versa, in accordance with the provisions of Article 4 and ‘Notify’ and ‘Notified’ shall be construed accordingly.
‘Operations’: means any transaction of any nature concluded between the Bank and the Customer in relation to the Bank’s products and/or services.
ACCOUNT OPENING
In order to open an Account with the Bank, the Customer must: (a) duly complete the Account Application Form so that it contains an accurate and comprehensive response to all the questions asked by the Bank, (b) attach to the said form all documents requested by the Bank, (c) be at least eighteen (18) years old if a physical person. The Customer is obliged to inform the Bank of any major alterations (such as change of Address) to any information submitted to the Bank in the Account Application Form. These alterations shall be applicable to the Bank within seven days of receipt of Notification by the Bank. The Bank shall assume that the information communicated is correct and up to date at all times. In addition the Customer shall Notify the Bank, when entering into a relationship with the Bank or subsequently, of any other information that the Bank may reasonably request, for example for the purposes of allowing the Bank to fulfill its Customer identification obligations.
The contract with the Bank shall be concluded and the Account opened with effect from the moment when the Bank accepts the Account Application Form. Acceptance shall only be deemed to have occurred when (i) the Confirmation is Notified by the Bank to the Customer and (ii) the Customer’s identification documents have been certified as true copies by the Bank. The Bank shall have the right, without being required to justify its decision, to refuse to open an Account for any Customer.
The Bank shall not accept physical payments in cash into an Account opened with the Bank.
NOTIFICATION/COMMUNICATION BETWEEN THE BANK AND CUSTOMER
The Bank and its Customers shall exchange any Notification by the various means of communication listed in Article 4 (ii) below for Notifications made by the Bank, and Article 4 (iii) below for Notifications made by Customers.
The Bank shall communicate with Customers by means of any of the following: (a) by regular postal letter (b) by electronic mail, (c) by facsimile transmission.
The Customer shall communicate with the Bank by means of any of the following: (a) by regular postal letter, (b) by electronic mail (c) by facsimile transmission, subject to the Customer authorisation on the Account Application Form.
PAYMENTS, INTEREST, WITHHOLDING TAX AND ACCOUNT DETAILS
An Account is not transferable and is subject to a minimum balance of EUR 10,000.
The interest rate applicable on the Account shall be fixed for the duration of the Account.
For Accounts having a term of twelve (12) months or less, interest will be paid on maturity date. Accounts having a term between twelve (12) and sixty (60) months, interest will be paid annually or as otherwise agreed.
Interest is calculated on a 360-day basis
At its sole discretion the Bank may accept partial or complete breaking of the Account at the Customer’s request. In this event the Customer accepts that any interest accrued on the Account may have to be forfeited.
The term “value date” within the meaning of the present Terms and Conditions is understood to mean the date from which the sums credited or debited on an Account begin or cease to bear interest. The Account start date shall be the date when funds are received and cleared on an account held in the Bank’s name.
The Bank may deduct final withholding tax from interest payments if instructed to do so by the Customer on the Account Application Form.
JOINT ACCOUNTS
Two or more Customers applying to open the same Account are deemed to be Joint Account holders. The Bank shall abide by the signing instructions given by the Customers on the Account Application Form in carrying out all Instructions in relation to the Account.
Customers who are Joint Account holders acknowledge and agree that they shall be jointly and severally liable for any obligation incurred on the Account. If any one of the Customers who are Joint Account holders cancels this mandate, the Bank shall still be able to debit the Account with any withdrawals or other transactions made by the Bank prior to notification of the cancellation or which had already been confirmed by the Bank.
In the event the Bank is notified in writing that one of the Joint Account holders has died, the Bank shall take instructions relating to the Account jointly from the heirs/legatees of the deceased and the surviving Account holder/s.
In the event the Bank is notified in writing that one of the Joint Account holders has been placed into liquidation or administration or other similar condition or has declared bankruptcy , wherein a liquidator, curator, administrator, trustee or other similar officer is appointed and in whom legal authority and representation is vested, the Bank shall take instructions in relation to any such joint Account jointly from such officer and the other Customers who are Joint Account holders.
LIABILITY
To the fullest extent permitted by law, and except to the extent that loss or damage is caused directly by the Bank’s gross negligence or wilful misconduct, the Bank shall not be liable to the Customer for any loss or damage that the Customer may suffer as a result of the use of the Bank’s products or the Bank’s services. In particular, but without limiting the generality of the foregoing, the Bank will not be liable for the delay in performing or failure to perform the obligations hereunder if the delay or failure results from events or circumstances outside the Bank’s reasonable control.
The Bank shall not be liable for any loss or damage caused to the Customer resulting directly or indirectly from events of force majeure or measures taken by local or foreign legal or regulatory authorities.
The Bank shall not be liable for any direct or indirect loss of profit, goodwill, business or anticipated savings nor for any indirect or consequential loss or damage.
INDEMNITY
The Customer shall indemnify and hold the Bank harmless from any loss or damage suffered by any person as a result of the Customer’s breach of any of these Terms and Conditions.
CONFIDENTIALITY AND DATA PROTECTION
The Bank shall not communicate to a third party any confidential information relating to its Customers, their assets, or the income and profits generated by the assets held in accounts, unless the Customers have expressly authorised it to do so.
During the supply of the services specified in these Conditions, the Bank may process personal data of the Customer according to the requirements of the Data Protection Act (Chapter 440 of the Laws of Malta). The Customer may have disclosed such data to the Bank in any manner and primarily through completion of the Account Application Form or other forms. Any processing of the Customer’s personal data for the supply of the service will exclusively serve the following purposes:
(a) To manage the Account(s);
(b) To issue the Customer Confirmation and provide the required products and services;
(c) For internal assessment and analysis (including credit and/or behaviour scoring, market and product analysis) and for the purposes of developing and improving the Bank’s products and services;
(d) For the detection and prevention of fraud and other criminal activity which the Bank is bound to report to competent crime investigative and prosecuting authorities or other bodies;
(e) For direct marketing, such as to inform the Customer, by mail, telephone, electronic message or facsimile message, about other products and services supplied by the Bank, and for research purposes, with the Customer’s consent.
As permitted or required by law, the Bank may disclose the Customer’s information to Governmental bodies and agencies or regulators. Personal data in relation to transactions effected via SWIFT (Society for Worldwide Interbank Financial Telecommunication) may be required to be disclosed to the United States authorities in order to comply with legal requirements applicable in the United States for the prevention of crime.
Customer’s personal data may be disclosed to or exchanged with all employees of the Bank, its associates and agents for the above purposes only and according to the rules of the data protection regulations issued by the Bank.
The Customer has the right to request the Bank to inform him about his personal data held and processed and to request its correction where necessary. Furthermore, following the opening of an Account and during the course of the relationship between the Bank and the Customer, the Customer may, by normal postal letter, request the Bank to refrain from using his details for the purposes of direct marketing.
Whilst the Bank may periodically request the Customer to re-confirm his data, the Customer should inform the Bank immediately if such data has changed.
QUERIES, COMPLAINTS AND OBSERVATIONS
Any complaint or observation of any nature relating to: (i) an error committed during an Operation, (ii) the content or form of any Notification made by the Bank, must be Notified by the Customer to the Bank within ninety days of the day on which the Customer becomes aware of the problem or ought to, using a reasonable degree of diligence, have become aware of it. If the Customer fails to do so within such period, he loses his right to complain or contest.
Queries or complaints may be Notified by the Customer to the Bank through regular postal letter, via electronic message or facsimile message. The Bank shall employ its best efforts to provide a reply to all queries and complaints within a maximum period of two Days. In any event, if a query or complaint made by Customer requires the divulging of Account details, the Bank shall, for security reasons, reply through the normal postal mail. When lodging a complaint Customers should supply the Bank with as many details as possible such as date and time of particular events, and so forth.
In the event that Customers feel aggrieved by a decision of the Bank they may seek redress, within 30 days from the date of the Bank’s decision, from the competent authorities within the Malta Financial Services Authority. Customers are advised that they may appeal to the Office of the Arbiter for Financial Services on 80072366 or 21249245 in the event that they feel aggrieved by any such decision.
MONEY LAUNDERING
The Customer shall certify that the assets placed or to be placed in the Account are or shall be the product of legitimate activity, and that the Account shall not be used for money laundering purposes.
The Bank shall not accept any liability for the transmission of information of whatever nature to the FIAU (Financial Intelligence Analysis Unit) Malta on its own initiative or on request.
MISCELLANEOUS
The Bank is a participant in the Depositor Compensation Scheme as established in terms of Legal Notice 369 of 2003 as subsequently amended. Subject to the conditions imposed by the Scheme, balances on accounts denominated in Euro or in any other currency of an EEA State held with the Bank are guaranteed up to a maximum of EUR 100,000 or its equivalent in any other EEA currency per person. More information can be obtained from www.compensationschemes.org.mt
Nothing in these Terms and Conditions or any other documentation supplied by the Bank to the Customer should be construed as a solicitation or offer, or recommendation, to acquire or dispose of any investment, product or service or to engage in any other transaction, or to provide any investment advice or service. Nothing contained in any aforementioned documentation constitutes investment, legal, tax or other advice and is not to be relied on in making an investment or other decision. The Customer should obtain relevant and specific professional advice before making any investment decision.
FUNCTIONING OF ACCOUNTS
All Operations between the Bank and its Customers shall be carried out in the context of an Account, in accordance with applicable banking laws. Each Operation shall take the form of a credit or debit entry to the Customer’s Account, depending on whether the Operation in question creates a right or an obligation for the Customer towards the Bank.
INSTRUCTIONS
Instructions provided by the Customer to the Bank, provided that they are in accordance with these Terms and Conditions are unconditionally binding upon the Customer.
Instructions provided by the Customer to the Bank, which are not provided in accordance with these Terms and Conditions, may be refused by the Bank.
The Bank has the right to refuse to execute incomplete or unclear Instructions received from the Customer. If the Bank decides to execute such Instructions anyway, the Bank cannot be held liable to the Customer for possible errors or delays.
REVERSALS AND ADJUSTMENT OF ERRORS
The Customer irrevocably authorises the Bank to correct errors in the Customer’s Account or to reverse Operations made in error automatically and without prior notice or authorisation.
AMENDMENTS TO TERMS & CONDITIONS
The present Terms and Conditions may be amended by the Bank at any time
The Customer shall be advised by the Bank in a Notification through regular postal letter or electronic message of any amendment to the Terms & Conditions.
Unless legal or statutory requirements specify otherwise, the amended Terms & Conditions shall enter into force two months after the date of the Notification.
Each of the provisions of these Terms and Conditions is severable from the others, and if at any time any one or more of such provisions, is or becomes illegal, invalid or unenforceable, the validity, legality and enforceability of the remaining provisions of these Terms and Conditions shall not in any way be affected or impaired.
GOVERNING LAW
The present Terms and Conditions and, unless agreed otherwise, all rights and obligations of both Customer and Bank shall be subject to Maltese law. The Courts of Malta shall have exclusive jurisdiction over all claims or disputes arising in the event of litigation