Common use of Account holder Clause in Contracts

Account holder. The Multitude Term Deposit Account is only managed by the Bank for consumers, i.e. only for natural persons who open an account for a purpose that serves neither commercial nor one’s independent professional activity but only personal purposes (hereinafter referred to as the "Account Holder"). The Account Xxxxxx is the named owner of the account but not the individual with a power-of-attorney over the account. The Multitude Term Deposit Account is not available for trusts, companies and other bodies corporate or charities. The Account Holder must be at least eighteen (18) years of age and have his domicile or habitual residence in Sweden. The Account Holder must also be in possession of a valid identification document issued or officially recognised within the European Union and hold electronic identification through BankID. The Account Holder may not be a permanent resident of the United States, hold the citizenship of the United States (including dual nationality) or have a Green Card for the United States. The accounts shall be kept for the Account Xxxxxx’x own account. The Bank does not open accounts on behalf of third parties. If You are related to/or closely associated with/or yourself are a Politically Exposed Person, who fulfils a prominent public function, you are required to declare this in the Application prior to the activation of your Multitude Term Deposit Account. The Bank will only open the Multitude Term Deposit Account in the name of its customers who are acting on their own behalf. You accordingly understand that the Multitude Term Deposit Account can only be used for transactions that You conduct in your own name and on your own behalf, and that You concurrently bind yourself not to use the Multitude Term Deposit Account for the benefit of another person. Entrusting access or use of the Multitude Term Deposit Account to a third party is prohibited and will lead to the termination of the business relationship with the Bank.