Common use of Your Accounts Clause in Contracts

Your Accounts. (a) We may in our discretion supply to you on your written request a cheque book or other Payment Instrument for the account and will not unreasonably refuse to do so. (b) We may in our absolute discretion designate an account dormant (“Dormant”) if there has been no Customer-initiated transactions on the account for a period of no less than 3 years. We will notify you in writing to your last known address of the account being designated as Dormant. On designating the account Dormant, we may maintain the account on such terms as we consider appropriate, including, but not limited to treating it as non-interest bearing, or close the account in accordance with Clause 11 and transfer the balance to an account in our name, designated for holding balances originating from Dormant accounts. (c) We may in our absolute discretion decide to participate in any unclaimed assets scheme or fund set up or to be set up by the government, authorised by the Financial Conduct Authority or another appropriate banking regulator. In that case we will transfer to the reclaim fund the credit balance on accounts or in relation to accounts on which there has been no Customer-initiated transactions for 15 years. In the event of the credit balance on the account being transferred to a reclaim fund in accordance with the unclaimed assets scheme, our liability to you will be extinguished. Your right to repayment will in those circumstances be exercisable instead against the reclaim fund. We will use reasonable endeavours to notify you before we transfer any amounts to the reclaim fund. Upon transfer of your money to the reclaim fund, we will close your account in accordance with Clause

Your Accounts. (a) We may in our discretion supply to you on your written request a cheque book or other Payment Instrument for the account and will not unreasonably refuse to do so. (b) We may in our absolute discretion designate an account dormant (“Dormant”) if there has been no Customer-initiated transactions on the account for a period of no less than 3 years. We will notify you in writing to your last known address of the account being designated as Dormant. On designating the account Dormant, we may maintain the account on such terms as we consider appropriate, including, but not limited to treating it as non-interest bearing, or close the account in accordance with Clause 11 and transfer the balance to an account in our name, designated for holding balances originating from Dormant accounts. (c) We may in our absolute discretion decide to participate in any unclaimed assets scheme or fund set up or to be set up by the government, authorised by the Financial Conduct Authority or another appropriate banking regulator. In that case we will transfer to the reclaim fund the credit balance on accounts or in relation to accounts on which there has been no Customer-initiated transactions for 15 years. In the event of the credit balance on the account being transferred to a reclaim fund in accordance with the unclaimed assets scheme, our liability to you will be extinguished. Your right to repayment will in those circumstances be exercisable instead against the reclaim fund. We will use reasonable endeavours to notify you before we transfer any amounts to the reclaim fund. Upon transfer of your money to the reclaim fund, we will close your account in accordance with ClauseClause 11. You still have the right to your money and you should contact us for information about having your money repaid to you.