Common use of Changes to the Terms and Conditions Clause in Contracts

Changes to the Terms and Conditions. 8.1 Other than where we mutually agree a change to our agreement with you, you cannot make a change to these terms and conditions. 8.2 Except for fixed interest rates, we may change the terms and conditions for your account if we need to: 8.2.1 make them easier to understand/to correct mistakes; 8.2.2 to reflect changes in the technology we use to provide accounts to you; 8.2.3 to reflect changes in our process for offering accounts; 8.2.4 to reflect changes in the cost to us of providing accounts to you; 8.2.5 take account (or in anticipation) of changes in the law, regulations, rules, codes of practice, court or ombudsman decisions or regulatory practice which relate to the accounts we provide to you; 8.2.6 if we take on the accounts of, or take over or merge with another provider; and/or 8.2.7 to maintain our financial stability. 8.3 If our change is to any interest rate or fees, and this change is as a result of a change in the cost of providing our services to you, we will limit the change to an equivalent financial impact to the variation in our costs. We won’t make any other change greater than is justified by the reason for making it. 8.4 We’ll let you know about any changes in writing. 8.4.1 If we change an interest rate, we will give you notice of the change according to the nature of the interest rate: (a) if your account is a variable rate account and we increase the interest rate, the change will be applied immediately, and we will let you know within 14 days of the increase taking effect; (b) if your account is a variable rate account and we reduce the interest rate, we will let you know at least 14 days before we apply the change; and (c) if your account is a reference rate account, any change in the underlying rate will be applied immediately, and we will let you know within 14 days of the change in the underlying rate being publicised. 8.4.2 We will always provide you with two months’ written notice before we change the basis on which an interest rate is calculated (for example, if we change a variable rate to a tracker rate). 8.4.3 For any other changes: (a) we can make changes that are to your advantage, or are neutral, at any time, and we will let you know within 30 days of the change taking effect; or (b) if the change is to your disadvantage, we will let you know you at least 30 days before we apply the change. 8.5 Where we give you advance notice of a decrease in your variable interest rate and/or any other change which is to your disadvantage, unless you notify us that you object to the change prior to it taking effect, we will assume you have accepted the change. If you do object to the change prior to it taking effect, you will be entitled to close your account without charge.

Changes to the Terms and Conditions. ‌ 8.1 Other than where we mutually agree a change to our agreement with you, you cannot make a change to these terms and conditions. 8.2 Except for fixed interest rates, we may change the terms and conditions for your account if we need to: 8.2.1 make them easier to understand/to correct mistakes; 8.2.2 to reflect changes in the technology we use to provide accounts to you; 8.2.3 to reflect changes in our process for offering accounts; 8.2.4 to reflect changes in the cost to us of providing accounts to you; 8.2.5 take account (or in anticipation) of changes in the law, regulations, rules, codes of practice, court or ombudsman decisions or regulatory practice which relate to the accounts we provide to you; 8.2.6 if we take on the accounts of, or take over or merge with another provider; and/or 8.2.7 to maintain our financial stability. 8.3 If our change is to any interest rate or fees, and this change is as a result of a change in the cost of providing our services to you, we will limit the change to an equivalent financial impact to the variation in our costs. We won’t make any other change greater than is justified by the reason for making it. 8.4 We’ll let you know about any changes in writing. 8.4.1 If we change an interest rate, we will give you notice of the change according to the nature of the interest rate: (a) if your account is a variable rate account and we increase the interest rate, the change will be applied immediately, and we will let you know within 14 days of the increase taking effect; (b) if your account is a variable rate account and we reduce the interest rate, we will let you know at least 14 days before we apply the change; and (c) if your account is a reference rate account, any change in the underlying rate will be applied immediately, and we will let you know within 14 days of the change in the underlying rate being publicised. 8.4.2 We will always provide you with two months’ written notice before we change the basis on which an interest rate is calculated (for example, if we change a variable rate to a tracker rate). 8.4.3 For any other changes: (a) we can make changes that are to your advantage, or are neutral, at any time, and we will let you know within 30 days of the change taking effect; or (b) if the change is to your disadvantage, we will let you know you at least 30 days before we apply the change. 8.5 Where we give you advance notice of a decrease in your variable interest rate and/or any other change which is to your disadvantage, unless you notify us that you object to the change prior to it taking effect, we will assume you have accepted the change. If you do object to the change prior to it taking effect, you will be entitled to close your account without charge.