Common use of The General Client Account Clause in Contracts

The General Client Account. 13.1 Your General Client Account is a payment account or electronic money account which enables you to send and receive electronic payments in accordance with the terms of this Clause 13. 13.2 Your General Client Account is not a personal bank or deposit account and you will not earn any interest on the funds held in the General Client Account. 13.3 As the provider of your General Client Account, we are authorised by the FCA under the EMRs (Firm Reference Number: 900797) as an electronic money institution, which allows us to issue e-money and provide payment services. 13.4 As an electronic money institution, we are required to ensure that ‘relevant funds’ are appropriately ‘safeguarded’ in accordance with the provisions of the EMRs. There are different ways in which this can be achieved. Currently we use the ‘segregation method’ which means that relevant funds received by us are held in one or more segregated bank accounts separately from our own funds, in accordance with the EMRs and PSRs. Ebury may also elect at any time to invest the relevant funds in secure, liquid assets approved by the FCA and place those assets in a separate account with an authorised custodian, in accordance with the EMRs and PSRs. In the event of our insolvency, these funds will form an asset pool which is separate from our insolvent estate and an administrator will be entitled to reimburse you from this pool (in priority to other creditors). 13.5 Your General Client Account(s) are denominated in the currencies as selected by you. 13.6 You agree that, unless you are a consumer: (a) while we may do so, we are not obliged to comply with the information requirements set out in Part 6 of the PSRs in relation to your use of the Services and the General Client Account; (b) regulations 66(1), 67(3), 67(4), 75, 77, 80, 83, 91, 92 and 94 of the PSRs do not apply to your use of the Services or the General Client Account; and (c) a different time period applies for the purposes of regulation 74(1) of the PSRs.

The General Client Account. 13.1 13.1. Your General Client Account is a payment account or an electronic money account which enables you to send and receive electronic payments in accordance with the terms of this Clause 13. 13.2 13.2. Your General Client Account is not a personal bank or deposit account and you will not earn any interest on the funds held in the General Client Account. 13.3 13.3. As the provider of your General Client Account, we are authorised by the FCA under the EMRs (Firm Reference Number: 900797) as an electronic money institution, which allows allow us to issue e-money and provide payment services. 13.4 13.4. As an electronic money institution, we are required to ensure that ‘relevant funds’ are appropriately ‘safeguarded’ in accordance with the provisions of the EMRsElectronic Money Regulations 2011. There are different ways in which this can be achieved. Currently we use the ‘segregation method’ which means that relevant funds received by us corresponding to electronic money are held in one or more segregated bank accounts separately from our own funds, in accordance with the EMRs and PSRs. Ebury may also elect at any time to invest the relevant funds in secure, liquid assets approved by the FCA and place those assets in a separate account with an authorised custodian, in accordance with the EMRs and PSRs. In the event of our insolvency, these funds will form an asset pool which is separate from our insolvent estate and an administrator will be entitled to reimburse you from this pool (in priority to other creditors). 13.5 13.5. Your General Client Account(s) are denominated in the currencies as selected by you. 13.6 13.6. You agree that, unless you are a consumerMicro-Enterprise or Charity: (a) while we may do so, we are not obliged to comply with the information requirements set out in Part 6 of the PSRs in relation to your use of the Services and the General Client Account; (b) regulations 66(1), 67(3), 67(4), 75, 77, 80, 83, 91, 92 and 94 of the PSRs do not apply to your use of the Services or the General Client Account; and (c) a different time period applies for the purposes of regulation 74(1) of the PSRs.

The General Client Account. 13.1 Your General Client Account is a payment account or an electronic money account which enables you to send and receive electronic payments in accordance with the terms of this Clause 13. 13.2 Your General Client Account is not a personal bank or deposit account and you will not earn any interest on the funds held in the General Client Account. 13.3 As the provider of your General Client Account, we are authorised by the FCA under the EMRs (Firm Reference Number: 900797) as an electronic money institution, which allows allow us to issue e-money and provide payment services. 13.4 As an electronic money institution, we are required to ensure that ‘relevant funds’ are appropriately ‘safeguarded’ in accordance with the provisions of the EMRsElectronic Money Regulations 2011. There are different ways in which this can be achieved. Currently we use the ‘segregation method’ which means that relevant funds received by us corresponding to electronic money are held in one or more segregated bank accounts separately from our own funds, in accordance with the EMRs and PSRs. Ebury may also elect at any time to invest the relevant funds in secure, liquid assets approved by the FCA and place those assets in a separate account with an authorised custodian, in accordance with the EMRs and PSRs. In the event of our insolvency, these funds will form an asset pool which is separate from our insolvent estate and an administrator will be entitled to reimburse you from this pool (in priority to other creditors). 13.5 Your General Client Account(s) are denominated in the currencies as selected by you. 13.6 You agree that, unless you are a consumerMicro-Enterprise or Charity: (a) while we may do so, we are not obliged to comply with the information requirements set out in Part 6 of the PSRs in relation to your use of the Services and the General Client Account; (b) regulations 66(1), 67(3), 67(4), 75, 77, 80, 83, 91, 92 and 94 of the PSRs do not apply to your use of the Services or the General Client Account; and (c) a different time period applies for the purposes of regulation 74(1) of the PSRs.

The General Client Account. 13.1 13.1. Your General Client Account is a payment account or an electronic money account which enables you to send and receive electronic payments in accordance with the terms of this Clause 13. 13.2 13.2. Your General Client Account is not a personal bank or deposit account and you will not earn any interest on the funds held in the General Client Account. 13.3 13.3. As the provider of your General Client Account, we are authorised by the FCA under the EMRs (Firm Reference Number: 900797) as an electronic money institution, which allows allow us to issue e-money and provide payment services. 13.4 13.4. As an electronic money institution, we are required to ensure that ‘relevant funds’ are appropriately ‘safeguarded’ in accordance with the provisions of the EMRs’. There are different ways in which this can be achieved. Currently we use the ‘segregation method’ which means that relevant funds received by us corresponding to electronic money are held in one or more segregated bank accounts separately from our own funds, in accordance with the EMRs and PSRs. Ebury may also elect at any time to invest the relevant funds in secure, liquid assets approved by the FCA and place those assets in a separate account with an authorised custodian, in accordance with the EMRs and PSRs. In the event of our insolvency, these funds will form an asset pool which is separate from our insolvent estate and an administrator will be entitled to reimburse you from this pool (in priority to other creditors). 13.5 13.5. Your General Client Account(s) are denominated in the currencies as selected by you. 13.6 13.6. You agree that, unless you are a consumer: (a) while we may do so, we are not obliged to comply with the information requirements set out in Part 6 of the PSRs in relation to your use of the Services and the General Client Account; (b) regulations 66(1), 67(3), 67(4), 75, 77, 80, 83, 91, 92 and 94 of the PSRs do not apply to your use of the Services or the General Client Account; and (c) a different time period applies for the purposes of regulation 74(1) of the PSRs.

The General Client Account. 13.1 Your General Client Account is a payment account or electronic money account which enables you to send and receive electronic payments in accordance with the terms of this Clause 13. 13.2 Your General Client Account is not a personal bank or deposit account and you will not earn any interest on the funds held in the General Client Account. 13.3 As the provider of your General Client Account, we are authorised by the FCA under the EMRs (Firm Reference Number: 900797) as an electronic money institution, which allows us to issue e-money and provide payment services. 13.4 As an electronic money institution, we are required to ensure that ‘relevant funds’ are appropriately ‘safeguarded’ in accordance with the provisions of the EMRs. There are different ways in which this can be achieved. Currently we use the ‘segregation method’ which means that relevant funds received by us are held in one or more segregated bank accounts separately from our own funds, in accordance with the EMRs and PSRs. Ebury may also elect at any time to invest the relevant funds in secure, liquid assets approved by the FCA and place those assets in a separate account with an authorised custodian, in accordance with the EMRs and PSRs. In the event of our insolvency, these funds will form an asset pool which is separate from our insolvent estate and an administrator will be entitled to reimburse you from this pool (in priority to other creditors). 13.5 Your General Client Account(s) are denominated in the currencies as selected by you. 13.6 You agree that, unless you are a consumerMicro-Enterprise or Charity: (a) while we may do so, we are not obliged to comply with the information requirements set out in Part 6 of the PSRs in relation to your use of the Services and the General Client Account; (b) regulations 66(1), 67(3), 67(4), 75, 77, 80, 83, 91, 92 and 94 of the PSRs do not apply to your use of the Services or the General Client Account; and (c) a different time period applies for the purposes of regulation 74(1) of the PSRs.