Common use of Credit interest Clause in Contracts

Credit interest. 7.1 We will calculate credit interest daily and pay it monthly. 7.2 The credit interest rate is a Managed Rate. Please see our website or call us for details of the credit interest rate applicable. 7.3 We will pay any credit interest on your next Statement Date (or, if this is not a Working Day, on the next Working Day). The Private bank account glossary This is a glossary of the Financial Conduct Authority’s standardised terms and definitions for the most representative services linked to a payment account. We use these terms to explain certain services linked to your Private bank account and this glossary is in addition to the definitions in the Investec Bank plc Banking Relationship Agreement. maintaining the account The account provider operates the account for use by the customer. arranged overdraft The account provider and the customer agree in advance that the customer may borrow money when there is no money left in the account. The agreement determines a maximum amount that can be borrowed, and whether fees and interest will be charged to the customer. unarranged overdraft The customer borrows money when there is no money left in the account (or when the customer has gone past their arranged overdraft limit) and this has not been agreed with the account provider in advance. refusing a payment due to lack of funds The account provider refuses a payment from the customer’s account because there is not enough money in it (or it would take the customer past their arranged overdraft limit). allowing a payment despite lack of funds The account provider allows a payment to be made from the customer’s account although there is not enough money in it (or it would take the customer past their arranged overdraft limit). direct debit The customer permits someone else (recipient) to instruct the account provider to transfer money from the customer’s account to that recipient. The account provider then transfers money to the recipient on a date or dates agreed by the customer and the recipient. The amount may vary. standing order The account provider makes regular transfers, on the instruction of the customer, of a fixed amount of money from the customer’s account to another account. sending money within the UK The account provider transfers money, on the instruction of the customer, from the customer’s account to another account in the UK. sending money outside the UK The account provider transfers money, on the instruction of the customer, from the customer’s account to another account outside the UK. receiving money from outside the UK When money is sent to the customer’s account from an account outside the UK. cash withdrawal in pounds in the UK The customer takes cash out of the customer’s account in pounds at a cash machine, bank or Post Office in the UK. cash withdrawal in foreign currency outside the UK The customer takes cash out of the customer’s account in foreign currency at a cash machine or, where available, at a bank outside the UK. debit card payment in pounds The customer uses their debit card to make a payment in pounds. This can be in a shop, online or over the phone. debit card payment in a foreign currency The customer uses their debit card to make a payment in foreign currency. This can be in a shop, online or over the phone. cancelling a cheque The customer asks the account provider to cancel a cheque that the customer has written. Additional Conditions for the SIPP and SSAS Saver These additional conditions should be read together with the Investec Bank plc Banking Relationship Agreement. If these conditions are inconsistent with the terms set out in the Relationship Agreement, these conditions will apply. Words with capital letters which are not defined in these additional conditions have the meaning given to them in the Relationship Agreement. The SIPP and SSAS Saver is a Notice Account.

Credit interest. 7.1 6.1 We will calculate credit interest daily and pay it monthly. 7.2 6.2 The credit interest rate is a Managed Rate. Please see our website or call us for details of the credit interest rate applicable. 7.3 6.3 We will pay any credit interest on your next Statement Date (or, if this is not a Working Day, on the next Working Day). The Private bank account glossary This is a glossary of the Financial Conduct Authority’s standardised terms and definitions for the most representative services linked to a payment account. We use these terms to explain certain services linked to your Private bank account and this glossary is in addition to the definitions in the Investec Bank plc Banking Relationship Agreement. maintaining the account The account provider operates the account for use by the customer. arranged overdraft The account provider and the customer agree in advance that the customer may borrow money when there is no money left in the account. The agreement determines a maximum amount that can be borrowed, and whether fees and interest will be charged to the customer. unarranged overdraft The customer borrows money when there is no money left in the account (or when the customer has gone past their arranged overdraft limit) and this has not been agreed with the account provider in advance. refusing a payment due to lack of funds The account provider refuses a payment from the customer’s account because there is not enough money in it (or it would take the customer past their arranged overdraft limit). allowing a payment despite lack of funds The account provider allows a payment to be made from the customer’s account although there is not enough money in it (or it would take the customer past their arranged overdraft limit). direct debit The customer permits someone else (recipient) to instruct the account provider to transfer money from the customer’s account to that recipient. The account provider then transfers money to the recipient on a date or dates agreed by the customer and the recipient. The amount may vary. standing order The account provider makes regular transfers, on the instruction of the customer, of a fixed amount of money from the customer’s account to another account. sending money within the UK The account provider transfers money, on the instruction of the customer, from the customer’s account to another account in the UK. sending money outside the UK The account provider transfers money, on the instruction of the customer, from the customer’s account to another account outside the UK. receiving money from outside the UK When money is sent to the customer’s account from an account outside the UK. cash withdrawal in pounds in the UK The customer takes cash out of the customer’s account in pounds at a cash machine, bank or Post Office in the UK. cash withdrawal in foreign currency outside the UK The customer takes cash out of the customer’s account in foreign currency at a cash machine or, where available, at a bank outside the UK. debit card payment in pounds The customer uses their debit card to make a payment in pounds. This can be in a shop, online or over the phone. debit card payment in a foreign currency The customer uses their debit card to make a payment in foreign currency. This can be in a shop, online or over the phone. cancelling a cheque The customer asks the account provider to cancel a cheque that the customer has written. Additional Conditions for the SIPP and SSAS Saver These additional conditions should be read together with the Investec Bank plc Banking Relationship Agreement. If these conditions are inconsistent with the terms set out in the Relationship Agreement, these conditions will apply. Words with capital letters which are not defined in these additional conditions have the meaning given to them in the Relationship Agreement. The SIPP and SSAS Saver is a Notice Account.

Credit interest. 7.1 6.1 We will calculate credit interest daily and pay it monthly. 7.2 6.2 The credit interest rate is a Managed Rate. Please see our website or call us for details of the credit interest rate applicable. 7.3 6.3 We will pay any credit interest on your next Statement Date (or, if this is not a Working Day, on the next Working Day). The Private bank account glossary This is a glossary of the Financial Conduct Authority’s standardised terms and definitions for the A most representative services linked to a payment account. We use these terms to explain certain services linked to your Private bank account and this glossary is in addition to the definitions in the Investec Bank plc Banking Relationship Agreement. maintaining the account The account provider operates the account for use by the customer. arranged overdraft The account provider and the customer agree in advance that the customer may borrow money when there is no money left in the account. The agreement determines a maximum amount that can be borrowed, and whether fees and interest will be charged to the customer. unarranged overdraft The customer borrows money when there is no money left in the account (or when the customer has gone past their arranged overdraft limit) and this has not been agreed with the account provider in advance. . refusing a payment due to lack of funds The account provider refuses a payment from the customer’s s account because there is not enough money in it (or it would take the customer past their arranged overdraft limit). allowing a payment despite lack of funds The account provider allows a payment to be made from the customer’s account although there is not enough money in it (or it would take the customer past their arranged overdraft limit). direct debit The customer permits someone else (recipient) to instruct the account provider to transfer money from the customer’s account to that recipient. The account provider then transfers money to the recipient on a date or dates agreed by the customer and the recipient. The amount may vary. standing order The account provider makes regular transfers, on the instruction of the customer, of a fixed amount of money from the customer’s account to another account. sending money within the UK The account provider transfers money, on the instruction of the customer, from the customer’s account to another account in the UK. sending money outside the UK The account provider transfers money, on the instruction of the customer, from the customer’s account to another account outside the UK. receiving money from outside the UK When money is sent to the customer’s account from an account outside the UK. cash withdrawal in pounds in the UK The customer takes cash out of the customer’s account in pounds at a cash machine, bank or Post Office in the UK. cash withdrawal in foreign currency outside the UK The customer takes cash out of the customer’s account in foreign currency at a cash machine or, where available, at a bank outside the UK. debit card payment in pounds The customer uses their debit card to make a payment in pounds. This can be in a shop, online or over the phone. debit card payment in a foreign currency The customer uses their debit card to make a payment in foreign currency. This can be in a shop, online or over the phone. cancelling a cheque The customer asks the account provider to cancel a cheque that the customer has written. Additional Conditions for the SIPP and SSAS Saver These additional conditions should be read together with the Investec Bank plc Banking Relationship Agreement. If these conditions are inconsistent with the terms set out in the Relationship Agreement, these conditions will apply. Words with capital letters which are not defined in these additional conditions have the meaning given to them in the Relationship Agreement. The SIPP and SSAS Saver is a Notice Account.