Terms and Conditions
General Terms and Conditions of Deposit
Please take the time to read these Terms and Conditions. If you have any questions please call us on +44 (0) 1624 641888. The effective date of these Terms and Conditions is 7 May 2013 and these Terms and Conditions supersede any previously issued General Terms and Conditions.
1.1 Our Terms and Conditions are comprised of the General Terms and Conditions, which apply to all savings accounts held with the Isle of Man branch of Santander UK plc as set out in this booklet, and Special Conditions, which apply to specific savings accounts. Special Conditions for our accounts are issued separately and should be read in conjunction with our General Terms and Conditions. In cases where our General Terms and Conditions and Special Conditions conflict with each other, then the Special Conditions will apply. References within our Terms and Conditions to ‘Terms and Conditions’ means our Terms and Conditions as may be amended, supplemented or varied by any new Special Conditions and any applicable overriding law.
1.2 The ultimate parent undertaking and controlling organisation of Santander UK plc is Banco Santander Central Hispano S.A., a company incorporated in Spain.
1.3 In addition to our Terms and Conditions, we may issue additional Legal Terms for the use of services which we offer, including but not limited to Legal Terms governing the use of our Internet Banking Service. These can be found on our Website.
1.4 There may be further terms and conditions which apply to your Account by law but are not set out in our Terms and Conditions.
1.5 In our Terms and Conditions, the following terms should be interpreted as follows:
‘Account’ means your bank account operated and maintained by us in your name.
‘Agent’ means an individual or legal entity authorised by the Account holder(s) to act on their behalf and accepted as such by us.
‘Any Loss’ means any loss whatsoever that we are not prohibited from excluding by law, including but not limited to direct loss and damage, other banks’ charges or losses, economic loss, special loss, punitive loss, currency exchange loss, indirect and consequent loss.
‘BACS’ means the Bankers Automated Clearing Service and its successors.
‘Banco Santander Group’ means Banco Santander Central Hispano S.A., its subsidiaries, associated and affiliated companies.
‘Banking Day’ means any weekday when we are open for business (excluding Saturdays, Sundays and bank holidays in the Isle of Man and any other days we notify to you). Bank and public holidays in the appropriate country or jurisdiction of the currency in which your Account is held may affect our ability to provide our full banking service, or may also cause a corresponding delay in the clearing or processing of transactions.
‘BIC’ means Bank Identifier Code and is the unique identification code for a particular bank.
‘Block or Blocked’ means an action of the Bank to preserve the funds held on an account, by means of restricting credits and debits to the Account as necessary to protect the Account holder(s), us or other third party.
‘CHAPS’ means the Clearing House Automated Payments System and its successors.
‘Direct Transfer’ means any transfer of funds through the banking system including but not limited to SWIFT payments, telegraphic transfers, BACS transfers, CHAPS payments or any other generally available electronic transfer method.
‘European Union Savings Tax Directive’ is a framework for laws between the member states of the European Union and associated territories, which requires each member state or associated territory (of which the Isle of Man is one) to allow the exchange of information between each other about European Union residents who earn interest on savings and investments in one European Union member state but live in another.
‘Foreign Currency’ means any currency other than Sterling.
‘Foreign Exchange’ means converting funds from one currency into a different currency.
‘IBAN’ (International Bank Account Number) is a European standard, used to identify each unique bank account.
‘Know Your Customer’ means our interpretation of our obligations to meet our regulatory requirements to know our customers, including but not limited to identity, location and financial circumstance.
‘Notice Account’ means any account on which funds cannot be accessed immediately without a Notice Penalty.
A period of notice to withdraw these funds must be provided to avoid the penalty.
‘Notice Period’ is the period of time, in days, determined by the Special Conditions relating to the Notice Account held, that must be given by you to us to facilitate a withdrawal. Funds held on the Notice Account during the Notice Period will continue to earn interest until withdrawn.
‘Notice Penalty’ means a financial penalty that will be deducted if funds are withdrawn from a Notice Account without giving the required Notice Period. The penalty will be equal to the amount of interest payable on the amount withdrawn for the number of days of the relevant Notice Period, calculated using the interest rate applicable at the time of the withdrawal.
‘Our Office’ means our principal place of business in the Isle of Man.
‘Spot Value’ means two banking days forward from the trade date and usually refers to a foreign currency transaction.
‘Statement’ means the record of transactions issued periodically for a particular account.
‘Sterling Area’ means the United Kingdom, Channel Islands, Isle of Man and Gibraltar.
‘SWIFT’ means the Society for Worldwide Interbank Financial Telecommunications’.
‘Tax Authority’ means the Competent Authority charged with the collection of taxes in any country.
‘Third Party’ means an individual who you nominate to be able to access information and carry out certain Account operations on your behalf.
‘Transactional Account’ means an account where transactions are permitted and excludes a type of account where transactions are not permitted under the Special Conditions relating to the Account, for example a fixed rate bond.
‘We’, ‘us’ and ‘our’ means the Isle of Man branch of Santander UK plc and its successors and assignees.
‘Website’ means our Website that contains all up-to-date information at www.santander.co.im.
‘You’ and ‘your’ mean the person who has signed the application form, or if more than one person, the persons who signed the application form or is authorised to sign on the Account as a Third Party.
1.6 In these Terms and Conditions, unless otherwise stated, a reference to a ‘clause’ is to a clause of these Terms and Conditions.
1.7 We may amend our Terms and Conditions by giving you notice in accordance with clause 21. Any such change(s) will be binding on all our customers.
1.8 We reserve the right to cease offering or withdraw any form of account without prior notice.
1.9 Our Terms and Conditions form part of the legal agreement between you and us. The laws of the Isle of Man govern this agreement. Both you and we submit to the non-exclusive jurisdiction of the courts of the Isle of Man.
1.10 In the event that any one or more of the phrases, sentences, clauses or sections of our Terms and Conditions is declared invalid or unenforceable by any court the remainder of our Terms and Conditions shall be valid, and construed as if such phrases, sentences, clauses or sections had not been inserted.
2. Applying for a savings account
2.1 To open an Account, you must not be restricted in your country of residence from opening an Account with us. Account acceptance will be at our sole discretion. Accounts will be maintained by us in the currency applicable to the Account opened. On opening an account we will send you notification in writing, detailing the Account number and the initial balance of your Account.
2.2 As a new customer to the Isle of Man branch of Santander UK plc, you must complete and sign an application form and provide the requested documentation before we will accept your initial deposit. By signing the application form you agree amongst other things to be bound by our Terms and Conditions (a copy of which you have received, read and understood). We reserve the right to take up references, including but not limited to, reviewing, the voters roll and instructing credit agencies and make any further enquiries as necessary to confirm details relating to applicants, account holders and certifiers of supporting documentation.
2.3 You must complete the application form and supply all documentation that we request, to meet our account opening procedures. In order for us to meet legal and regulatory requirements and fulfil our own policies and standards relating to our Know Your Customer obligations, we require you to provide us with documentary evidence of your identity, current permanent residential address, income and financial information. The Account that you have applied for may not be opened until we are satisfied that our legal, regulatory and internal standards have been fulfilled. We reserve the right to refuse any application or to request further documentation at any time.
2.4 If we agree to open an Account before you have provided acceptable documentation we will not be able to allow withdrawals until such evidence has been provided.
2.5 You must also provide a specimen of your signature (and if applicable all the signature(s) of any individual(s) you have authorised to operate your Account) when the Account is opened and at any other time when requested by us.
2.6 If you do not fully and clearly complete the signature mandate on your application form, we reserve the right to operate the Account based on the signature of any one Account holder until we are advised in writing of any other mandate.
2.7 If you are not the beneficial owner of the funds deposited in the Account, you must declare to us the name(s) of the beneficial owner(s) and provide us with such documents as we require relating to the beneficial owner(s).
2.8 If any other person who is not an Account holder is to be authorised to be a signatory on the Account, you must provide us with such documents as we require relating to such signatory or signatories before they are accepted as signatory or signatories on the Account. We reserve the right to refuse to accept additional authorised signatories at our discretion.
2.9 You must declare to us the source of funds deposited in the Account, the purpose of the Account, and the underlying source of wealth. We reserve the right to require additional information evidencing any of these factors before opening the Account or permitting withdrawals.
2.10 You will be responsible for any amounts owing to us on the Account.
2.11 We may refuse to carry out or allow any transaction or information amendment if we are not satisfied of the identity or authority of the person requesting the transaction or the lawfulness of the transaction.
2.12 If you send us any documentation in a language other than English, we will notify you of the applicable translation charge and obtain your agreement before it is translated. The charge incurred will be debited to your Account. We reserve the right not to accept a document in a language other than English which has not been translated to a standard acceptable to us.
2.13 Any accounts opened subsequent to your initial application are subject to the Terms and Conditions, any amendment to Terms and Conditions and any additional terms and conditions that apply to new accounts that are not of the same account type as your initial Account. At our discretion, new accounts may be opened by telephone or in writing without the need for a further application provided that we have confirmed that we already hold sufficient documentation and information for you.
2.14 You may not transfer any of your rights or obligations in relation to your Account without our express agreement. If agreed by us, such a transfer shall be subject to our account opening processes and requirements in place at the time and will not be valid unless made in a manner approved by us and until registered in our records. We may refuse to permit a transfer without giving any reason.
2.15 We may at our discretion and without giving any reason refuse to open an account or accept a deposit from any person or entity.
2.16 We are entitled to treat the named Account holder(s) as the absolute owner(s) of the Account. We shall not (unless required by law) be bound to recognise any trust, interest or charge in or over the Account claimed by any other person even if we have express or other notice of this claim. We will not be liable for refusing or failing to recognise any such claim.
3. Paying money into your Account
3.1 For the initial deposit, payments can only be accepted if they are drawn on an Account in the applicant’s name(s) or have been issued by a bank, a financial institution, an advocate, solicitor or lawyer and made payable to the applicant(s) or to us with the applicants’ name. We may at our sole discretion accept initial deposits from sources other than those listed in this clause where the initial deposit is made at Our Office in the Isle of Man. Initial deposits in cash are only permitted from Isle of Man residents. We reserve the right to request additional information to verify the source of the funds and to refuse any deposit.
3.2 Deposits can only be made with Our Office in the Isle of Man, or other places in the Isle of Man as we may specify, in accordance with the minimum values and balance detailed in the Special Conditions applicable to the Account. You may not make deposits into your Account at any other office of the Banco Santander Group or at the offices of our clearing bankers.
3.3 Funds remitted to us will be applied to the specified Account within one working day provided that the originating or intermediary institution supplies full and correct details, or if remittance is by cheque, provided you have correctly quoted your Account details. Cheques received through the post below the minimum value specified by the Special Conditions applicable to the Account will be returned to the Account holder’s correspondence address or, at our sole discretion, will be credited to your Account. We will not be liable or responsible for Any Loss as a result of any cheque below the minimum value not being presented for clearance or if the cheque(s) are lost or delayed in the postal system.
3.4 The maximum cash deposit we will accept into an existing Account is Â£1,000. The cash deposit service is only available to you if you have provided us with a current residential address in the Isle of Man. No cash transactions are permitted in US Dollars, Euro or any Foreign Currency and we reserve the right to refuse cash deposits at our absolute discretion.
3.5 Travellers’ cheques, postal or international money orders are not accepted.
3.6 Only Sterling cheques drawn on a bank in Sterling Area will be accepted and these will take six Banking Days to clear before a withdrawal can be made against the funds deposited. No other cheques are accepted, including Sterling cheques drawn on a bank outside of the Sterling Area and cheques in a Foreign Currency.
3.7 We will not be liable, in respect of any funds being deposited or withdrawn, for Any Loss arising from delay in the transmission of funds due to causes beyond our control or for any charges levied by handling banks involved in the transmission of funds.
3.8 We may apply a limit to the amount that can be deposited in any particular type of account or by any one customer.
3.9 We reserve the right to refuse any deposit at our sole discretion. These funds will be returned to the bank account from which they were received without interest. Any resultant charges, currency or other financial loss will be payable by you.
3.10 Cheques to be deposited into your Account must be made payable to the Account holder and must not be dated after the date of signature (‘post-dated cheques’). We will not accept any responsibility for Any Loss arising as a result. We will return post-dated cheques to the Account holder’s correspondence address. We will not hold them for banking at a later date. If you do post-date a cheque, we will not be held liable or responsible for Any Loss in respect of any cheque presented to us prior to the date of signature or for Any Loss whatsoever arising from the post-dating of the cheque. If you send us a cheque payable to you and it is drawn on a bank outside of the Sterling Area or in a Foreign Currency, the cheque will be returned to you and we will not accept any responsibility for Any Loss arising as a result.
3.11 We will make a charge for any cheques that you pay into your Account that are returned unpaid for any reason whatsoever. Such charges will be in accordance with our Schedule of Charges.
3.12 If a cheque is subsequently returned unpaid for any reason, we will debit your Account in full for the amount credited to your Account, together with any consequent interest that we may have paid on your Account and any charges incurred by us.
3.13 Where we receive Direct Transfer payments, the funds will be available for withdrawal as soon as they have been applied to your Account in line with the Special Conditions on your Account. If they cannot be applied to your Account for any reason, they will be returned to the originating bank, net of any charges and without interest.
3.14 SWIFT payments may be received by us in any currency. If we receive payments in your name for your Account in a currency other than that in which your Account is denominated, the payment will be converted into the currency of your Account, for Spot Value. This currency conversion will be performed without any further reference to the Account holder.
3.15 If you pay funds in one currency (for example Euros) into our bank account denominated in another currency (for example Sterling) these funds will be exchanged automatically on receipt and we will not be held liable or responsible for Any Loss.
3.16 In order to comply with anti-money laundering, drug trafficking and terrorism laws and regulations and to fulfil our Know Your Customer policies and standards, we reserve the right to request and obtain further information from you regarding the source of funds you have deposited with us. If you are unable to supply satisfactory evidence or explanations, these funds may be returned to the bank account from which they were received without interest. We will not be liable or responsible for Any Loss resulting from the return of such funds.
4. Withdrawing money from your Account
4.1 Withdrawals can only be made from Our Office in the Isle of Man or other places in the Isle of Man as we may specify, in accordance with the minimum and maximum values detailed in the Special Conditions relating to your Account once the funds have cleared. You may not make withdrawals from your Account at any other office of the Banco Santander Group or at the offices of our clearing bankers. No cash or cheque transactions are permitted in any currency other than Sterling.
4.2 You can withdraw money from your Account by asking us to:
- make a transfer to another Account in your name with us; or
- make a Direct Transfer to an account in your name held with another bank or building society; or
- pay away by BACS to another Sterling account held in the Sterling Area.
- make a Sterling cheque payable to you. Cheques can only be either collected in person by you at Our Office, or posted to your registered correspondence address. We will not post cheques to any other address.
- make a Sterling cheque payable to a third party, where your Account Special Conditions permit and the cheque is collected in person by you at Our Office.
- pay cash up to a maximum Â£500 per Account holder per day at Our Office in the Isle of Man, or other places in the Isle of Man as we may specify subject to the Special Conditions. Repeat withdrawals are at our discretion and we do not need to give you a reason for our refusal.
4.3 We do not accept instructions or requests to place deposits on constant notice, rolling notice, or to close an Account and transfer funds to a new identical account in order to benefit from interest capitalisation.
4.4 Any withdrawal which reduces the balance to below the minimum acceptable balance for the Account may result in any remaining balance being added to the amount of the proposed withdrawal, and the Account being closed.
4.5 When making international Direct Transfers you should be aware that supplementary charges may be levied by intermediary banks. You will be responsible for any such charges and cannot opt to vary the way in which these are applied to the execution of the transfer. When you send us your instructions you must provide to us the full and correct banking details including the destination account name, account number, sort code, BIC or SWIFT code, IBAN, routing or other banking code(s). If you do not provide us with the full and correct information, monies are likely to be delayed and potentially lost, and we will not be responsible for Any Loss arising. If you have not supplied us with the full and correct IBAN and charges are raised by other banks or agents, we will recover these costs by debiting your Account or by requiring you to pay us the relevant sum. As a guideline international Direct Transfers will take up to six working days, however, we cannot guarantee the time taken as this will depend upon the local and intermediary banking system. We will not be responsible for Any Loss arising from a delay in a Direct Transfer.
4.6 We will make a charge for Direct Transfers, in accordance with our Schedule of Charges, which will be deducted from your outstanding cleared balance or from the amount sent if insufficient funds remain.
4.7 We reserve the right to select the method by which a Direct Transfer is made by us. Any request to ‘transfer’ funds will normally but not exclusively be interpreted as meaning a Direct Transfer by BACS or CHAPS unless your instructions clearly state otherwise. At our discretion, we may carry out an instruction for a Direct Transfer without the provision of the full bank details stated in clause 4.5 if we have made payments to that bank previously for you. We reserve the right to make payments by BACS when requested to make a cheque payment providing that we are in possession of the payment details of the recipient bank account.
4.8 We will endeavour to carry out your withdrawal instructions within one Banking Day after receiving them. We cannot accept instructions for withdrawals at specific times (commonly known as ‘timed instructions’). In certain circumstances this may not be possible and the withdrawal instruction will be actioned as soon as possible.
4.9 We will not be liable or responsible for the value given to funds by a beneficiary bank.
4.10 We assume no responsibility for mail or other communication delays, external clearing system lead times, processing times or for Any Loss which may arise in relation to the operation of your Account.
4.11 We will not be liable or responsible for not completing your instruction if:
- you do not have sufficient cleared funds in your Account; or
- you have not yet fulfilled our account opening requirements; or
- you have failed to provide us with satisfactory details regarding the source of any funds you have deposited with us; or
- a legal order has prohibited withdrawal from your Account; or
- we have reason to believe there is a dispute between joint Account holders; or
- your Account is closed, or otherwise Blocked; or
- you have not provided us with complete and correct payment instructions; or
- completing the instruction(s) may contravene law or regulation; or
- the instructions have not been authenticated or signed in accordance with the mandate in respect of your Account; or
- we are delayed from carrying out, or fail to carry out your instructions due to an event beyond our reasonable control, including but by no means limited to industrial action, or the failure of any of our machines, data processing systems, transmission links, internet banking system, or because there has been a failure in any part of the internal or external banking systems used to make direct payments or any terminal or telecommunication device used in connection with the external banking systems.
4.12 We reserve the right to contact you regarding withdrawal requests, in order to perform security checks. We will not be liable or responsible for the consequences of any delay or Any Loss arising as a result of us being unable to contact you to complete our security checks. It is your responsibility to ensure that we are provided with accurate and up to date contact details including telephone numbers.
4.13 We will accept signed instructions from you by post and fax or other means stated in the Special Conditions. We do not accept instructions by email. We reserve the right not to carry out any instruction if we are in doubt as to its authenticity.
4.14 Any withdrawal requests requiring currency conversion will be carried out at our prevailing exchange rate and subject to clause 5.
5. Foreign Exchange
5.1 We will provide Foreign Exchange services in the following circumstances:
- where a payment is made or an amount remitted in a currency which is different to the currency denomination of the Account which is to be debited or credited
- where, on your specific request, some or all of the balance in your Account is to be transferred into a different account denominated in another currency or remitted to you or to another payee in a different currency in accordance with your instructions; and
- where, on your specific request, some or all of the balance in your Account is transferred to an account at another bank which is denominated in a different currency.
5.2 Currency exchange services are provided subject to the provisions of clauses 3.14, 3.15, 4.14, 5.3 and clause 10 in its entirety.
5.3 We do not give any warranty as to the specific time during the day at which any exchange conversion deal requested by you or carried out under clauses 3 and 4 will be carried out and completed. If you request an indication exchange rate, we will provide such indication rate, which will be for indication purposes only. We do not give any warranty that this rate will be achieved on your currency exchange transaction. Exchange rates move constantly and you may obtain a lower or a higher rate. We will not be held liable or responsible for Any Loss as a result of movements in market rates, provided that we act on your instructions within a reasonable time frame. Our normal operating time frame is that if you make a valid request for an exchange of currency before our daily cut off time, the deal will be carried out the same day and if you make a request for an exchange of currency after our daily cut off time, the deal will be carried out the next day. If circumstances arise which prevent us from making your currency exchange within our normal operating time frame, we will not be responsible for Any Loss. Our cut off time will be notified to you on request. Foreign exchange deals will be made on a spot basis and funds in the required currency will be available two Banking Days after the deal is completed. The exchange rate applied will be our rate available on the day of the exchange transaction.
6. Stopping withdrawal payments
6.1 You cannot cancel or stop a cheque withdrawal or Direct Transfer from your Account once the cheque or Direct Transfer has been entered onto our systems.
6.2 We may stop cheques or recall funds made by Direct Transfer if we believe that the original instruction may not be genuine. We will use our best endeavours to stop the cheque or recall the funds. We will not, however, be held responsible for the delay or failure to stop cheques or recall funds in such circumstances or for Any Loss arising from any such delay or failure.
6.3 We reserve the right to refuse to accept a request to stop a cheque or recall a Direct Transfer.
7. Account disputes
7.1 If we reasonably believe that your Account is being used for illegal purposes or if we believe that there is a disagreement about who owns the money in your Account (including a disagreement between Account holders) we may Block your Account. This will mean that we will not permit any withdrawals or carry out any other instructions and may not enter into communication with you regarding any claim until we are satisfied that your Account is not being used for illegal purposes or that the disagreement is settled. In any event we shall be entitled to charge you with the amount of any legal or other costs incurred by us in protecting our interests. We will not be liable for Any Loss arising as a result of your Account being Blocked.
7.2 If we consider that there are reasonable grounds for believing that a dispute exists between joint Account holders, we reserve the right to require the signature of all Account holders for any transactions on the Account until we are satisfied that the dispute is settled.
7.3 In the event of any valid Court order, injunction or direction being presented to us which obliges us to restrict your use of the Account we reserve the right to debit the Account, at the time the relevant order, injunction or direction is lifted as specified or otherwise, with any costs we may incur. We will not be liable for Any Loss arising as a result of restrictions being placed on your Account as a result of any such order, injunction or direction being made.
8. Withdrawing money from an Account where notice is required
8.1 If you want to withdraw money from an Account where there are Special Conditions requiring you to give us written notice before we are obliged to pay you, you must give us written notice (signed by you) in accordance with those Special Conditions. Subject to any Special Conditions (which shall override the following if they conflict) this notice must state clearly;
- the amount you want to withdraw; and
- the date when you want to withdraw the money; and
- which method of payment under clause 4 you want us to make.
8.2 If we do not receive clear and full instructions from you within 14 days after we receive your original incomplete instructions, then we will treat your instructions as cancelled. If this happens you will need to give us new instructions to make a withdrawal from your Account. We will make reasonable efforts to contact you to ask you to clarify any unclear or incomplete instructions.
8.3 We will treat the period of notice as starting on the day when we receive full and clear instructions at Our Office. If you send us notice by fax we will treat the Notice Period as starting when we receive your fax. This will only apply if:
- the notice contains all of the information we require as detailed in clause 8.1; and
- we receive the original instructions that you faxed to us signed by you at Our Office within 14 days after the fax transmission. We do not accept email instructions.
8.4 We will not make any payment out of your Account unless we have received your written notice or any notice pursuant to our telephone banking service set out in clause 12.
8.5 If your notice expires on a day when Our Office is not open for banking business, we will action your withdrawal on the next day Our Office is open for banking business, subject to the provisions of clause 4.8.
8.6 Where notice has been given for a penalty free withdrawal, your withdrawal must be made on the day requested. If the withdrawal is not made on the day requested, notice will be deemed to have lapsed and further notice will be required.
8.7 If you ask us to cancel your written notice, we may do so instead of accepting it but only if your request is received prior to us actioning the withdrawal. Once we have actioned your withdrawal we cannot cancel your request. If we allow you to change your notice we will tell you and we will treat your original notice as cancelled. If this happens you must give us a new notice for withdrawal.
8.8 If we receive more than one notice for any single withdrawal and the instructions in those notices are different we may choose not to accept either notice. If this happens we will tell you.
8.9 In the event of the death of the Account holder(s), the Account can be closed without notice or Notice Penalty, and interest will be applied up to and including the date of closure at the current interest rate for the Account.
8.10 Where an account is subject to a Notice Period, before a withdrawal may be actioned without loss of interest, the withdrawal amount to be placed on notice may not exceed the balance held at that time.
8.11 If a valid notice is not served on an account where notice is required, then a Notice Penalty will be applied. This is calculated as:
Amount withdrawn x Number of days notice required
by the applicable Special Conditions x
Interest rate applicable on day of withdrawal
Divided by the Day Count referred to in clause 9.6
The Notice Penalty will be deducted from the accrued interest in the specified account. Where there is insufficient accrued interest to cover the Notice Penalty, then the Notice Penalty will be taken first from the accrued interest and any remaining amount of penalty due will be deducted from the remaining capital balance on the specified account in accordance with clause 10.3.
8.12 We will have no obligation to action a withdrawal request if a valid notice has not been served and we will not accept any responsibility for Any Loss arising as a result.
9.1 Where we are permitted by law to pay interest gross, without deduction of tax, we will do so. However, if law or regulations come into force which require us to deduct tax or any other externally imposed levy before paying interest to you, we reserve the right to make such deductions. We will have no obligation to refund any deductions where deducted in accordance with legislation and regulation and in good faith.
9.2 We reserve the right to request further evidence of residency or personal details in deciding whether changes in legislation or regulations apply to an Account. Where we consider that there is uncertainty then we may apply a deduction of tax until such time as the uncertainty ceases and we will not be responsible or liable for any loss arising from such delays.
9.3 It is your responsibility to declare any interest earned to the relevant Tax Authority.
9.4 Customers who are resident of European Union member states are subject to legislation pursuant to the European Union Savings Tax Directive (EUSTD). Under legislation relating to the EUSTD, the Isle of Man branch of Santander UK plc is required to exchange information on interest paid to all EU residents. To do this, we will provide your name, country of residence and the amount of interest you have received from us to the Isle of Man Government who will in turn forward this information to the tax authorities of the European Union member state in which you are resident.
9.5 We reserve the right to treat each party on an account independently for the apportionment of interest.
9.6 We will pay interest on your Account at the rate or rates published on our Website and on the dates applicable to your Account as given in the Special Conditions on your Account. We will calculate interest on an 1/365 basis for each day in the year for Sterling accounts, and on an 1/360 day basis for each day in the year for US Dollar and Euro accounts; consistent with international banking practices.
9.7 We may at any time vary the rate or rates on your Account without notice (excluding Fixed Rate Bonds and accounts where funds are subject to a fixed rate of interest). We will tell you about this within 30 calendar days of a variation coming into effect either:
- by placing a notice on our Website;
- by placing notices in newspapers in the Isle of Man, the UK and in an international edition of a UK newspaper;
- by writing to the first named Account holder; or
- by sending a secure message via our internet banking service to the first named Account holder.
Details of interest rates are available at any time on our Website, or can be obtained by contacting Our Office.
9.8 The Account balance will determine the rate of interest payable and we will automatically alter the rate when the balance in the Account exceeds or falls below the certain specified limits. We will calculate your interest on the amount which is in your Account at the end of each day, subject to clauses 9.9 and 9.10.
9.9 If the balance on any account falls below the minimum balance for the Account, we reserve the right to pay any rate of interest including 0% for the period during which the balance remains below the minimum.
9.10 Funds paid into your Account by Direct Transfer or in cash will accrue interest from the day following the day it has been applied to your Account up to and including the date of withdrawal. Cheques will accrue interest from the second Banking Day following the day they have been applied to your Account. For deposits in foreign currencies, interest will begin to be accrued from the day after the funds are credited to your Account, with reference to clauses 3 and 5.
9.11 If you have made a deposit by cheque, and the paying bank does not clear the funds then we will take any interest paid on those funds out of your Account.
9.12 Interest is paid in one of the following ways:
- By adding it to the Account (where not excluded by Special Conditions).
- By transfer to another account held with us.
- By transfer in Sterling to a bank account in the Sterling Area.
If no interest payment instructions are given by you, then interest will be added to the Account.
9.13 All interest payments must be made payable to an account of which you are the named Account holder(s).
10. Charges and set off
10.1 Our charges for banking services are set out in our Schedule of Charges which we issue periodically to you and are also available on our Website or by contacting Our Office.
10.2 You agree to pay to us all banking and handling charges incurred in the operation of your Account including, but not limited to, bank transfer fees, fees for the clearance of cheques or drafts and fees and commissions for the conversion of funds between currencies, whether levied by us or by other banks or agents.
10.3 We will take money out of your Account to meet any charges or penalties due and owing to us.
10.4 We may introduce charges for other banking services and may vary the amount of our charges for any of our services at any time, for any reason without giving you notice. We may also change the way you have to pay charges if it is reasonable to make the change.
10.5 We may make further charges for any costs incurred by us as a result of any negligent or improper act, default or neglect by you. Such charges may include a proper sum for the cost of time, facilities, accommodation and services of our offices, employees and agents as well as the recovery of any legal expenses incurred by us in relation to your Account. We may deduct such charges from the balance for the time being standing to the credit of your Account.
10.6 We may use credit balances held by you with us to reduce or repay any debit balances on any Account you hold with us.
10.7 We reserve the right to make a charge if you ask us to carry out special activities, such as investigations, research, interest calculations etc. We will advise you of the charge before we carry out your instructions.
10.8 In the event of any valid court order, injunction or direction being presented to us which obliges us to restrict the use of your Account, we reserve the right to debit the Account, at the time of the relevant order, injunction or direction is lifted, with any costs we may incur. We will not be liable for Any Loss arising as a result of any such order, injunction or direction being made.
10.9 We will not be responsible for any loss or expense you may suffer if we cannot provide any services or facilities by reason of, but not limited to, any of the following events:
- industrial action; or
- power cuts; or
- failure of equipment or transmission links.
- any other causes beyond our reasonable control.
10.10 We are not responsible or liable to pay any charges that your bank (or their intermediary bank) may apply for receiving a payment originating from your account with us or for any charges applied for sending a payment to your account with us.
11 Joint Accounts and other types of Account
11.1 You may apply for an Account jointly with up to three other people, subject to the Special Conditions of the account applied for.
11.2 If you hold an Account jointly with one or more other people, you must be aware that all joint Account holders are bound by our Terms and Conditions:
- jointly (that is, all equally); and
- severally (that is, bound as though he or she was the only Account holder).
If one joint Account holder dies, we will treat the surviving Account holder(s) as the beneficiary(ies) of the Account.
11.3 Letters, Statements and other material that we send to the first named Account holder on your Account will bind all joint Account holders. ‘Care of’ and ‘PO Box’ numbers may be used in a correspondence address but we will still require your full permanent address as part of our identification procedures as set out in clause 2.
11.4 In the event of a dispute arising between joint Account holders, clause 7 will apply.
11.5 We will accept instructions from any one joint Account holder or an Agent to withdraw the deposit or receive any interest or bonus from the Account where this person has been authorised to do so by all Account holders on the application form or afterwards in writing. The receipt of, or evidence of payment to a person so authorised shall be a good discharge by us for any payment to you.
11.6 Trustees, Corporations, Clubs, Charities and Societies may apply to open accounts with us provided that we agree to the request and the relevant application form is completed and supporting documentation has been fully provided and that we are satisfied with the nature and purpose of the Account.
11.7 The type of accounts which we offer to applicants referred to in clause 11.6 may differ from our standard Personal range of accounts. We will write to such applicants setting out any Special Conditions and interest rates for the Account they hold, and we reserve the right to refuse entry of applicants under clause 11.6 into standard products at our sole discretion.
12. Telephone banking service
12.1 We can provide a telephone banking service during our normal opening hours on each Banking Day.
12.2 You will be required to apply for the service either with your original application form, or subsequently by the completion of an additional application form for this service including provision of a security code.
12.3 The telephone banking service is available on Accounts held solely or jointly. However, where a joint Account is operated on an ‘all to sign’ basis, this service is not available.
12.4 If we accept your application for the telephone banking service, then this service is available on all your Accounts held in the same name and you do not need to apply for the service on each account. For the avoidance of doubt, any transaction request for any amount made using the telephone banking service will be made without further reference to any Account holder save for circumstances under clause 7, provided that the security code and any other security checks are correct and complete to our satisfaction.
12.5 An Account holder may cancel the telephone banking service, by providing written instructions to us at Our Office. Thereafter, we will employ best endeavours to comply with the cancellation request, provided that instructions have not already been actioned or entered onto our systems.
12.6 You must keep your security code secure and not disclose it to anyone except our staff.
12.7 You may authorise payments to accounts nominated on your nominated account form. The maximum number of nominated accounts is two. We reserve the right to limit the number of nominated accounts to one for certain types of Account. Cheques requested may be made payable to third parties subject to clause 4.2.
12.8 In the event of you authorising us to make a payment by cheque payable to the Account holder(s) we will send the cheque to the registered correspondence address of the first Account holder.
12.9 If you authorise us to make a payment and it is not clear by which method you would like us to make the payment, we reserve the right to make the payment by Direct Transfer and deduct any charges due for this service.
12.10 We have no obligation to verify the authenticity of any instructions received other than as stated in clause 12.4 and/or any Special Conditions. We have no responsibility in the event of the security code coming into the possession or knowledge of unauthorised persons through no fault of our own.
12.11 You must pay your own telephone charges resulting from the use of the telephone banking service.
13. Internet Banking Service
13.1 You may apply using the internet for our Internet Banking Service which can be found by visiting our Website and clicking on the relevant link.
13.2 Our Internet Banking Terms and Conditions will apply to your use of the Internet Banking Service and these can be found on our Website.
13.3 Our Terms and Conditions will continue to govern your Account in all respects except for the use of our Internet Banking Service.
13.4 In the event that circumstances beyond our control prevent us from providing our Internet Banking Service, we will not be liable or responsible for Any Loss arising due to delay or failure to complete any instruction provided by you using the Internet Banking Service.
14.1 The first named Account holder will be treated as the representative joint holder and will be the only Account holder entitled to receive communications from us. We will send all written notices, Statements and other information to the registered correspondence address of the first named Account holder or via secure message. You may choose and tell us the order in which you want your names to appear on your Account.
14.2 We will update your Account after each transaction you make, and your Account will be made available for you to view using our internet banking service.
14.3 We will send you a Statement at least once each year. For internet Accounts this may be provided electronically. We may, in addition, provide other records of transactions as we deem appropriate for particular types of deposit.
14.4 We will send you notices from time to time providing you with information about interest rates and changes in our products and services in accordance with clause 9.7. You may choose not to receive such notices but if you do, we will not be responsible for Any Loss which may arise as a result.
14.5 You must tell us in writing if your name, address, telephone number, email address, or any other details you have given us change. If we ask you for documentary evidence of this you must give it to us before we amend our records. Failure to provide the documentary evidence required may result in your Account being Blocked until such time as the acceptable documents are provided. Subject to us acting reasonably we will not be responsible for Any Loss which may arise as a result. You must provide us with a full mailing address at all times as it is not possible for us to hold correspondence for you.
14.6 We will treat all letters and other material we send to you as arriving two business days after they are posted to you in the Isle of Man or United Kingdom or elsewhere in the British Isles or seven days if posted to an address other than this.
14.7 We may retain any correspondence you send to us for possible future reference. We may also listen to and record telephone calls to monitor the quality of our service and to ensure compliance with or to prevent breaches of applicable law, rules and procedures. Recorded calls may be relied upon at a future date should a dispute arise.
14.8 If you think we have made an error on your Account you must let us know promptly so that we are able to investigate the situation as soon as possible. If you become aware of any transaction on your Account that has not been authorised by you, you must notify us immediately. For this purpose, you must check your Statement and correspondence from us. If it is necessary to investigate a transaction on your Account, you may be required to provide us with permission to involve the police, if we need to involve them.
15.1 We are not obliged to accept any application to open an Account (unless required by law). If we refuse, the matter will be for our absolute discretion and we will not be obliged to give a reason.
15.2 We will accept instructions in respect of your Account from:
- you; or
- anyone who has power of attorney for you, which we have accepted and noted in our records; or
- anyone who has a legal right to give us instructions.
15.3 You must provide a specimen of your signature (and if applicable all the signature(s) of any individual(s) you have authorised to operate your Account) when the Account is opened and at any other time when requested by us.
15.4 We will only make payments or transfers from your Account on receipt of instructions in the appropriate form from you or an authorised signatory on your Account. Unless you have established a telephone banking service on your Account under the terms of clause 12, instructions must be original instructions signed in accordance with the Account mandate. We reserve the right to operate security checks.
15.5 Where a telephone banking service exists on your Account we will accept instructions only after ensuring that appropriate security measures have been applied, including the use of a security code as set out in clause 12.
15.6 We reserve the right to refuse communications provided by electronic means, including but not limited to email and faxed instructions, unless we are satisfied that appropriate and adequate security measures have been applied to protect the integrity, reliability and authenticity of the information communicated and to protect you and us against the possibility of fraudulent or other unauthorised transactions on your Account.
15.7 We do not accept responsibility for the security of any information sent by you, or to you, via email.
15.8 a) We are entitled to treat you as the absolute legal owner of the money in your Account. Unless the law says that we must recognise any other claims over your Account (such as trusts or charges) we will not be liable if we do not recognise such a claim. We will not be bound to recognise the interest or claim of any person other than the Account holder(s) in respect of money held in an Account, nor will we be liable in any way for Any Loss howsoever caused (including but not limited to Any Loss caused by our failure to recognise such interest or claim (except as required by law)) unless either sub-clause (b) or (c) following applies:
b) Clause 15.8 (a) will not apply if the Account holder(s) is or are acting:
- in a professional capacity in the course of a profession or business where we have accepted the Account as a designated account or,
- as a trustee(s) subject to the terms of a trust account; and
- in both instances the Account has been designated to that effect or we have otherwise confirmed the arrangement in writing.
c) Clause 15.8 (a) will not apply if we have registered the interest of a Receiver, Liquidator, Administrator or Trustee in Bankruptcy in respect of the operation of the Account.
16. Personal information and data protection
16.1 We are required to hold sufficient information about you to satisfy our standards for Know Your Customer information and to confirm your identity. If, at any time, we determine in our discretion that we need additional information or documentation from you, we will contact you to obtain it. You agree to provide such information promptly when requested and to protect both you and us, any failure to provide this information when requested may lead to your Account being Blocked until we receive the requested information.
16.2 All information that we collect is collected lawfully and held for specified and lawful purposes in accordance with the Isle of Man Data Protection Act 2002 and the UK Data Protection Act 1998. Your privacy is important to us and we will respect your personal information and do our best to ensure that the details we hold are accurate and kept up to date.
16.3 To enable us to provide and operate accounts and associated services, information supplied by you to us at any time, whether or not you become a customer, will be held by us and may be disclosed to other companies in the Banco Santander Group. Any information about you received by us and other companies in the Banco Santander Group (from you and third parties) will be kept confidential and secure. We will only disclose it to other companies in the Banco Santander Group either with your express consent or for any of the following legitimate business purposes to which you agree:
- for assessment and statistical analysis for our business or the business of the Banco Santander Group, including automated techniques such as behaviour and credit scoring and for considering any application you may make to us or them;
- to provide and operate accounts and associated services;
- to comply with our legal and regulatory obligations â€“ in some jurisdictions and in some areas of our business, we are required by law or regulation or contract to monitor communications;
- to prevent, detect or investigate the commission of a criminal offence or a suspected criminal offence;
- to gather information as part of an investigation by a regulatory body or in connection with a legal claim;
- to ensure our compliance with applicable legal, regulatory and corporate governance requirements and with our policies, standards and procedures including the sharing of information to assist with compliance with our standards for Know Your Customer information;
- to respond to requests for records from clients, regulatory bodies or other authorised parties;
- to detect, investigate and enforce suspected breaches of our policies, standards and procedures;
- to investigate a complaint or otherwise to establish the existence of facts in the context of business transactions or communications;
- to ensure our efficient operation, management and security of our communications networks and systems;
- to check the quality and quantity of our employees’ work;
- to monitor interactions between you and us for training purposes; and
- to develop and improve our products and services.
Please note that if we become aware of unlawful activities, information or content, we may remove or disable access to the relevant information and report the information to appropriate authorities.
16.4 You agree that we and the other companies in the Banco Santander Group may disclose your personal information:
- to credit reference agencies;
- to our insurers, sub-contractors and persons acting as our agents who have agreed to keep your personal information strictly confidential and secure;
- to linked suppliers to the extent that they need your personal information to provide their services to us and you and who have agreed to keep your personal information strictly confidential and secure;
- for debt tracing and fraud prevention;
- to any person to whom we transfer our rights and/or obligations under this agreement;
- as required or permitted to do so by law, regulatory authority or court order;
- where necessary to protect your and our interest; and
- where disclosure is made at your request or with your consent. Where we disclose information to providers of services to you and us, which includes disclosing your name and address on payment instructions, we will take all reasonable steps to make sure that your information is only used in line with our instructions and our own strict policies on confidentiality. We may transfer your personal information in accordance with clause 16.3 and 16.4 to a company in the Banco Santander Group or third party located in another country and if we do so we will ensure that they agree to apply the same levels of protection as we are required to apply to your information.
16.5 We may use the information you provide to search fraud prevention and credit reference agencies to check the identity of any party related to the Account. Other organisations may become aware of those searches but this is not a credit check and will not be seen or used by other organisations to assess your ability to obtain credit. We may use information we receive from these agencies to manage the Account, recover debt, prevent and detect fraud, verify identities and meet any legal, regulatory or other obligation we have to meet our standards for Know Your Customer requirements.
16.6 You agree to promptly notify us in writing of any change of address or other change in your personal details so we can keep our records up to date in compliance with applicable law. If you fail to do so promptly, we shall not be liable for Any Loss arising as a result (and nor shall any other companies in the Banco Santander Group). However, we shall update and correct our personal data about you as soon as reasonably practicable after receipt of such details from you at Our Office.
16.7 For the purpose of verification or amendment of any inaccuracies, you have the right of access under the Isle of Man Data Protection Act 2002 and the UK Data Protection Act 1998 to certain personal records that we hold about you. If you wish to exercise this right, you should write to The Manager (Data Protection) at Our Offices. We will charge you should we provide information under this clause in accordance with the provisions of the Data Protection Act 2002 and the UK Data Protection Act 1998.
16.8 If you wish to exercise your statutory right to (a) opt out of fully automated decision-making about you or (b) opt out of having personal data about you used for direct marketing you must do so by notice in writing to Our Office and we shall action your ‘opt-out’ by noting this within any files of details about you held by us or other companies in the Banco Santander Group within a reasonable period required for processing.
17 Closing your Account
17.1 You may close your Account at any time (subject to cheque clearance) unless, under the Special Conditions:
- you must give us a minimum amount of notice to close your Account; or
- you cannot close your Account until the end of a fixed term.
Closures involving a payment in a non-Sterling currency will require a waiting period of two Banking Days in order that the appropriate currency funds can be obtained.
17.2 We may close your Account at any time and repay the balance to you, together with any interest due. We do not have to give you a reason for doing so. If we decide to do this, we will normally give you thirty calendar days written notice unless there are exceptional circumstances that require us to close the Account immediately.
17.3 If we close your Account under clause 17.2 or you close your Account under clause 17.1 we will return your money to you along with any interest due on your Account up to the date of closure. A Notice Penalty calculated as set out in the Special Conditions of the Account will apply if you wish to close your Account without giving us the minimum notice required under the Special Conditions of the Account.
17.4 We reserve the right to close your Transactional Account if we consider that it has become dormant and for a period of three years there have been no transactions (if permitted by the Special Conditions) and we have written to you asking if you wish to keep your Account open and
- we have received no communication from you; or
- at least one notice sent by us to you at your registered correspondence address has been returned and not delivered.
If requested, we will open a new account and credit the balance to it.
17.5 Should you change your mind and decide to close your chosen new Account, (with the exception of Fixed Rate Bond and any other accounts where funds are subject to a fixed maturity date and/or a fixed rate of interest), you may do so by notifying us in writing within fourteen days of the Account opening date. After fourteen days the notice conditions set out in the Special Conditions of the Account will apply. Refer to clause 8 for details. Where you have chosen to close your new Account within fourteen days of the Account opening date, subject to cheque clearance, your capital and any interest earned will be sent to the source bank account from which your initial deposit originated. The opening date of your Account will be deemed to have been notified to you in accordance with clause 14.6.
18.1 We do not provide (nor hold ourselves out as providing) advice on the suitability of facilities or services offered to you by us for your particular circumstances, nor do we exercise any judgement on your behalf, especially relating to your tax position, and neither we nor our employees shall be liable for Any Loss arising as a result of you availing yourself of the facilities offered by us (or not, as the case may be). It is your responsibility to take independent advice as to the suitability of facilities for your particular circumstances.
19 What happens if you die?
19.1 If you die and your Account is not a joint Account, your personal representative may have to obtain a grant of representation in the Isle of Man and provide a certified copy to us. We will require sight of the proof of death document and grant of representation, or a certified copy of these documents. Any powers of attorney or third party mandates attached to the Account will cease to be valid on the death of an Account holder.
19.2 Once he or she has a Manx grant of representation your personal representative can:
- use the Account, or any successor Account, for as long as we may allow;
- close the Account, in which case the notice requirements (if any) set out in the Special Conditions will apply.
19.3 For the effect of the death of a joint Account holder, see clause 11.
20 Transfer of business
20.1 We may on giving you one month’s prior notice in writing or electronic message, transfer the principal sum and interest in the Account to another bank including, but not limited to, a bank within the Banco Santander Group (the successor bank) offering similar deposit facilities and on substantially the same investment terms. For this purpose, you authorise us (a) to open an Account with a successor bank in your name, (b) to transfer your funds to the successor bank, and (c) to supply your Account records and personal details to the successor bank. We shall use reasonable endeavours to ensure that the successor bank pays and continues to pay interest on the amounts invested, without deduction of income tax or other relevant taxes or levies unless required by law or regulations. On the transfer becoming effective, your Account with the Isle of Man branch of Santander UK plc shall be closed and our liability to you to repay the funds on deposit shall cease.
21 Changes to our Terms and Conditions
21.1 We may change our Terms and Conditions, but we will tell you that we have done so in accordance with clauses 21.2 and 21.5.
21.2 If we change our Terms and Conditions we will tell you about any changes by one or more of the following ways within thirty days following the change:
- Writing to you
- Sending you a message with your Account Statements
- Press advertisement
- Posting a message on our Website
- Emailing you
- Sending you a secure message via our internet banking service.
21.3 We may change our Terms and Conditions at any time for any of the following reasons:
- To allow us to raise additional funds, invest in new technology, change methods of operation or improve services or facilities; or
- To enable us to harmonise our banking or charging arrangements; or
- To conform with or anticipate any changes in our Know Your Customer standards; or
- To take account of a change or anticipated change in law or regulation or recommendations by our regulator or any other suitable regulator, or in market conditions or banking practice; or
- To reflect the decision of a Court, ombudsman, regulator or similar body; or
- To reflect any change in our ownership; or
- To rectify any mistake that might be discovered in due course: or
- To make them clearer or more favourable to you.
21.4 We may also change our Terms and Conditions for any other valid reason including but not limited to error or omission or to make any clarification considered necessary.
21.5 Notwithstanding clause 21.2 if a change to our Terms and Conditions is to your disadvantage we will tell you about it by writing to you at the correspondence address you have given to us, at least thirty days before the change. Under these circumstances, you can close your Account without giving us notice, at any time up to sixty days from the date of notification of the change. You will not have to pay any additional charges for doing so. If you do not close your Account within sixty days from the date of notification of the change you will be deemed to have accepted the changes.
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To be read in conjunction with Product Features and General Terms and Conditions:
1. eSaver accounts
1.1 Accounts are only available to individual savers over the age of 18 and can be opened by a sole holder or two joint holders.
1.2 Accounts can only be applied for online. Accounts must be operated by using our Internet Banking Service, which can be accessed via www.santander.co.im. It is your responsibility to ensure that Accounts are operated as set out in the eSaver User Guide, available in the How do I? section of our website. Operation of Accounts by any other means is at our sole discretion and may give rise to charges.
1.3 It is your responsibility to provide us with a current active email address that we can use to contact you for the purposes of managing the eSaver Accounts. If you discontinue your email address you must provide us with a new and valid email address.
1.4 If you do not provide us with or maintain a current email address we will not be responsible for your failure to receive any messages we send. We will not be responsible if an email which we have sent to your email address does not reach you for technical or other reasons beyond our control.
1.5 eSaver Accounts can be opened by a sole holder or two joint holders. If the Account is opened by two joint holders, instructions will be accepted from either holder without reference to the other holder.
1.6 If you do not provide the documents which we require within 30 days of applying for the Account, we will reject your application and you will need to re-apply should you wish to open an account.
1.7 We will not accept cheques or cash into eSaver accounts. Any such deposits will be returned to you without any liability on our part.
1.8 You must provide us with details of a linked nominated account at another bank to which you wish to make payments. Your linked nominated account must be in the same name as at least one of the Account holders of your eSaver Account. Withdrawals can only be made to your linked nominated account. If your linked nominated account ceases to be valid, you must provide us with details of a new linked nominated account.
1.9 Statements for the Account will be provided online and will be available for you to print. You will be able to view your Account information at any time by accessing our Internet Banking Service. It is your responsibility to monitor your Account online and to print any Statement or other information you may require for tax or legal reasons. Paper Statements may be issued on closure of the Account at our sole discretion. Paper Statements are available on request in return for a fee as set out in our Schedule of Charges.
1.10 In the event of the death of a sole Account holder we reserve the right to require the Account to be operated by your Executors by post or by any other method at our discretion.
2. Everyday Saver accounts
2.1 Accounts are available to individual savers and can be opened by a single holder or two joint holders.
2.2 The choice between annual or monthly interest must be confirmed at outset; changing between annual and monthly interest is not available after the account has been set up.
3. Foreign Currency Accounts
3.1 Withdrawals are available on a two day call basis. The two day call basis means that a period of two working days will be required to ensure that funds in the appropriate currency are available. This will apply even if the currency of withdrawal is US Dollar.
3.2 Clause 8.7 of our General Terms and Conditions is replaced by the following:
If you ask us to cancel your written notice, we may accept your cancellation but only if your request is received by us at least two working days prior to your notice period expiring. Once we have called the funds required for your withdrawal, we may cancel your request, but you will be responsible for any costs or losses incurred by the bank in cancelling your notice, including but not limited to any costs or losses associated with exchange of currencies. Any such costs will be deducted from your Account. If you request to change your notice, we will tell you if we accept the change and we will treat your original notice as cancelled. If you wish to change your notice, you must give us a new notice for withdrawal.
4. Fixed Term Bonds
4.1 The minimum deposit is £5,000 and the maximum balance is £2,000,000 in any one bond. Bonds are available to individual savers or two joint holders.
4.2 The bond will mature on the date specified overleaf. The interest rate is fixed at the rate advertised in this leaflet until the maturity date. The rate is guaranteed not to change until the maturity date of the bond.
4.3 Interest will be paid annually or on a monthly basis, on the 1st of each month, if you choose a monthly interest account. Where the monthly interest option is chosen, interest must be paid away to an account in the account holder’s name(s) with the Isle of Man branch of Santander or at another bank.
Annual interest is paid by crediting the bond account with the interest, or by choosing one of the options shown below:
- By transfer to another account with the Isle of Man branch of Santander.
- By transfer in sterling to a bank or building society account in the Isle of Man, United Kingdom or Channel Islands
Where a bond’s interest is paid at maturity, interest will only be paid on the specified maturity date. If a bond’s interest is paid annually please note that in the last year of the bond term, the annual interest will be paid on the maturity date. If a bond’s interest is paid monthly, then in the last month of the bond term, the monthly interest will be paid on the maturity date.
4.4 Where we are permitted by law to pay interest gross, without deduction of tax, we will do so. However, if law or regulations come into force which require us to deduct tax or any other externally imposed levy before paying interest to you, we reserve the right to make such deductions. Under legislation relating to the European Union Savings Tax Directive, the Isle of Man branch of Santander is required to provide details of interest paid to EU residents to the Isle of Man tax authority.
4.5 Interest is calculated as detailed in our General Terms and Conditions. Interest accrues on a daily basis for the period during which the capital is on the account.
4.6 No withdrawals, transfers or further deposits into the bond are permitted after the initial deposit into the bond. In the event of the death of beneficial owner(s) prior to the bond’s maturity, the account can be closed without notice or charge, and the capital and accrued interest paid to a duly appointed representative under Manx law. If the account is held in joint names and one person dies, the account will be vested in the name(s) of the survivor(s).
4.7 All sterling 1 year fixed rate bonds will mature into a new fixed rate bond (‘the new bond’) available at the time and the Special Conditions of the new bond will apply. We will notify you of the Special Conditions and the interest rate of the new bond before the maturity date of your sterling 1 year fixed rate bond. If you do not want your fixed rate bond to mature automatically into the new bond, you will be required to provide us with an instruction prior to the maturity date. All other bonds will mature into an Offshore Call account (or equivalent instant access account). Should no new bond be available at the time of maturity, then 1 year fixed rate bonds will also mature into an Offshore Call account (or equivalent instant access account). We will contact you to remind you of the maturity date and options before the end of the fixed term.
4.8 On maturity of a sterling 1 year fixed rate bond any new bond into which your money is transferred will provide you with a 14 day period at the start of the new bond during which you may change your mind and withdraw your funds or transfer them to another type of account. After the initial 14 day period of the new bond, no withdrawals, further deposits or transfers will be permitted.
4.9 The bonds are limited issue products and applications may be refused if the bond is fully subscribed or for any other reason. Multiple bonds totalling in excess of £2,000,000 may not be opened by any account holder. Receipt by us of an application form and deposit does not guarantee entry into the bond.
4.10 Statements are issued annually and on maturity.
4.11 Our General Terms and Conditions apply.
4.12 The information on this website does not constitute an invitation to make deposits in any jurisdiction to any person to whom it is unlawful to make such an invitation or offer in such jurisdiction. It is the responsibility of the depositor to determine if the account is suitable for them in their personal circumstances, and to make declarations to the appropriate tax and other authorities.
Internet Banking Terms and Conditions. Effective 7 May 2013
These Legal Terms govern your use of the Internet Banking Service for accounts held with the Isle of Man branch of Santander UK plc. You are advised to read them carefully. They apply in addition to our General Terms and Conditions and the Special Conditions of Your account (together referred to as 'Your Account Terms'), and are additional to all other legal and regulatory information detailed elsewhere, whether in the Santander Isle of Man branch website or in any product brochure or literature issued by Us. These Legal Terms and Your Account Terms together form the agreement between You and Us regarding Your use of the Santander Isle of Man Branch Internet Banking Service.
We reserve the right to issue Special Legal Terms to specific customers of the Santander Isle of Man branch Internet Banking Service to restrict or extend the privileges, rights and usage of the Internet Banking Service or to further define Your and Our obligations and responsibilities. If this is the case We will provide You with written Special Legal Terms.
If there is any conflict between these Legal Terms and Your Account Terms in respect of Your use of the Santander Isle of Man branch Internet Banking Service, these Legal Terms will prevail. If there is any conflict between these Legal Terms and Your Account Terms in respect of Your Account, Your Account Terms will prevail.
Our General Terms and Conditions can be viewed on our main website www.santander.co.im.
2. Target Audience
The Santander Isle of Man branch Internet Banking Service is only available to existing customers aged 18 years and over who hold an Account with us. If you are aged under 18 years you should not access this website. The Santander Isle of Man branch Internet Banking Service uses a high level of encryption and the use of such encryption may be illegal in some countries outside of the Isle of Man and the UK. If You decide to use the Santander Isle of Man branch Internet Banking Service outside the Isle of Man and the UK, You are responsible for ensuring that Your use of the Santander Isle of Man branch Internet Banking Service is permitted by local law and We shall not be liable for any loss or damage suffered by You as a result of You not being able to use the Santander Isle of Man branch Internet Banking Service in these countries.
In these Legal Terms:
'Account' means any account(s) that You hold with Us;
'Account Terms' or 'Your Account Terms' means the terms and conditions of the Account including our General Terms and Conditions and the Special Conditions of the Account;
'Santander Isle of Man branch Internet Banking Service' means the Internet Banking Service of the Isle of Man branch of Santander UK plc which enables You to give Instructions to Us relating to Your Account using the Internet.
'Banking Day' means any weekday when we are open for business (excluding Saturdays, Sundays and bank holidays in Isle of Man and any other days We notify to You);
'Direct Transfer' means any transfer of funds through the banking system including but not limited to SWIFT payments, telegraphic transfers, CHAPS payments, BACS payments or any other generally available electronic transfer method.
'e-Product' means any account offered by the Isle of Man branch of Santander UK plc which must be applied for online using our Internet Banking Service.
'Telephone Help Service' means a telephone help service which We provide to assist You in using the Santander Isle of Man branch Internet Banking Service, details of which are set out in the Online Help facility;
'Instruction' or 'Instructions' means using the Santander Isle of Man branch Internet Banking Service to:
- Obtain information relating to the balance and transactions on the Account;
- Instruct Us to transfer money to and from the Account, or set notice on Your Account;
- Instruct Us to make certain changes or additions to Your Account such as a change of address or adding a nominated bank account;
- Use the other facilities which We may from time to time incorporate at our sole discretion into the Santander Isle of Man branch Internet Banking Service;
'Legal Terms' means these Internet Banking Terms and Conditions including any amendments which We may make to them in the future;
'Security Information' means:
- Your User ID which We give You; and
- Your Password, and
- Your Activation Key which We give You when You first use the Santander Isle of Man branch Internet Banking Service; and
- Your Memorable Information; and
- any other security requirements which We may notify to You;
'Online Help' means the Online Help facility which appears under the Help button on Our website;
'Our Website' means the internet website established for the purpose of operating the Santander Isle of Man branch Internet Banking Service, as provided at https://www.mybankoffshore.santander.co.im. This website is also referred to in these Legal terms as 'the Internet Banking Website'.
'Our Main Website' means the internet website provided at http://www.santander.co.im. This website provides a link to the Internet Banking Website.
'Our Websites' means both Our Main Website and Our Internet Banking Website.
'We'/'Our'/ 'Us' means the Isle of Man branch of Santander UK plc;
'You'/'Your' means the Account holder who applies for the Santander Isle of Man branch Internet Banking Service via our website;
'Your Equipment' means all such compatible equipment, software and communications lines (including any public communication lines) required by You to properly access the Santander Isle of Man branch Internet Banking Service.
4. About Us
4.1 Our company details are as follows:-
Santander UK plc. Registered Office: 2 Triton Square, Regent’s Place, London, NW1 3AN, United Kingdom. Registered Number 2294747. Registered in England. Authorised and regulated by the Financial Services Authority, except in respect of its consumer credit products for which Santander UK plc is licensed and regulated by the Office of Fair Trading. FSA registration number 106054. Santander UK plc is also licensed by the Financial Supervision Commission of the Isle of Man for its branch in the Isle of Man. Deposits held with the Isle of Man branch are covered by the Isle of Man Depositors’ Compensation Scheme as set out in the Isle of Man Depositors’ Compensation Scheme Regulations 2010. In the Isle of Man, Santander UK plc’s principal place of business is at PO Box 123, 19/21 Prospect Hill, Douglas, Isle of Man, IM99 1ZZ.
5. Copyright and Trade Marks
5.1 Our Websites and the copyright in the content of and materials featured on Our Websites are owned by or licensed to Us.
5.2 Santander and the flame logo are registered trademarks
5.3 The names and logos of third parties mentioned in Our Websites may be the trademarks, trade names or unregistered trademarks of those third parties and are used by Us with the permission of such organisations.
5.4 You may view, print, download or store temporarily extracts from Our Websites for Your own personal reference or for the purpose of applying to Us to access or use the products and services featured on Our Websites. No other use (including, without limitation, the alteration, deletion, utilisation or extraction) of the content and materials featured on Our Websites is permitted without Our written permission. Otherwise than as provided, Our Websites cannot, whether in whole or as to any part, be copied, reproduced, distributed or transmitted in any medium (including, without limitation, by the internet) without Our written permission.
6. Access to and use of the Santander Isle of Man branch Internet Banking Service
6.1 You are responsible for obtaining and maintaining Your Equipment and for ensuring that it is compatible with the Santander Isle of Man branch Internet Banking Service. We have no responsibility or liability in respect of Your Equipment. No technical support will be provided by Us. We will notify You of the minimum specification of computer system required to enable You to access and use the Santander Isle of Man branch Internet Banking Service.
6.2 We may change the minimum specification of computer system required to access the Santander Isle of Man branch Internet Banking Service at any time. We will notify you of such a change by placing a message on Our Website. We do not accept responsibility if any such change in specification results in Your Equipment becoming incompatible with Our Website or becoming unable to perform within Our Website all of the functions previously performed.
6.3 You will be responsible for the cost of all charges You incur in accessing and using Our Website including but not limited to internet service provider costs, computer and technical costs and telephone service charges. Clause 6.27 below explains our own charges.
6.4 You are responsible for establishing and paying for an appropriate connection with an Internet Service Provider in order to access the Santander Isle of Man branch Internet Banking Service.
6.5 We cannot guarantee the speed with which You will be able to access and use the Santander Isle of Man branch Internet Banking Service (as it will depend upon factors such as the specification of Your Equipment and the number of people using Our Website) nor can We guarantee that You will have uninterrupted or continuous access to the Santander Isle of Man branch Internet Banking Service.
6.6 You must not:
- introduce or attempt to introduce any virus or any other contaminant to Our Websites or any of Our computer systems;
- in any way attempt to access, alter, de-compile, reverse engineer, destroy or otherwise tamper with any part of Our Websites or any of Our computer systems;
- interfere with the use of another person's access to or use of Our Websites;
- obtain access to information relating to another person which is on Our computer system;
- use or attempt to use Our Websites or any of Our computer systems for any unlawful or immoral purpose.
- 6.7 We may refuse Your application, or suspend or terminate Your access and use of the Santander Isle of Man branch Internet Banking Service at any time with or without notice if there is a valid reason in our opinion for Us to do so. We do not need to give you a reason for this. If We do this, You may not be able to operate an Account which is dependent on internet banking and You may need to make alternative arrangements.
6.8 We shall control, direct and establish technical and other procedures for using the Santander Isle of Man branch Internet Banking Service (and We may vary them from time to time). You agree to follow Our instructions and adhere to Our procedures when using the Santander Isle of Man branch Internet Banking Service as notified to You from time to time.
6.9 We shall be entitled to make operational changes to and alter the facilities available under the Santander Isle of Man branch Internet Banking Service at any time. We will notify You of significant changes.
6.10 You are responsible for ensuring that Your Instructions (including all the details We may require to carry out Your Instructions) and any information You give to Us are accurate and complete. We shall not be liable for any loss or damage You suffer if they are in any way inaccurate or incomplete.
6.11 You agree that any material and/or information downloaded or otherwise obtained through the use of the Santander Isle of Man branch Internet Banking Service is at Your own discretion and that You will be responsible for any damage to Your Equipment or loss of data that results from the download of such material and/or data.
6.12 We shall use reasonable endeavours to keep the Santander Isle of Man branch Internet Banking Service free from viruses and corrupt files but We do not warrant that the Santander Isle of Man branch Internet Banking Service is free from infection by viruses or anything else with contaminating or destructive properties. We recommend that where practicable You 'virus check' information sent to You by Us. We shall not be liable for any corrupt information sent to You by Us or for any corrupt information You send to Us.
6.13 The Santander Isle of Man branch Internet Banking Service is only available on Accounts for which the mandate allows a single individual to authorise transactions (a 'One Signature' mandate). If Your existing account mandate requires dual or multiple authorisation, for example Both Signatures, All Signatures or Special Instructions, You must change the mandate to One Signature before Your account can be registered for the Internet Banking Service. We will require an original Change of Account Mandate authorisation signed by all account holders agreeing to the change before we can allow use of the Internet Banking Service on the account.
6.14 e-Products will only be accepted on the basis of One Signature, and the first named account holder will be treated as the holder of any Internet Banking registration which is issued within the e-Product application process.
6.15 If We receive an Instruction relating to a Sterling transaction before 11.00 am on a Banking Day, We will use all reasonable efforts to comply with that Instruction on that Banking Day. If We receive an Instruction relating to a Sterling transaction after 11.00 am on a Banking Day, We will use all reasonable efforts to comply with that Instruction during the course of the next Banking Day. However, You should note that Clause 4.8 of our General Terms and Conditions applies in relation to the timescale within which Your Instructions will be carried out. We may in Our absolute discretion refuse to carry out any Instruction or reverse any action taken by Us in response to any Instruction.
6.16 If We receive an Instruction from You relating to a non-Sterling or currency exchange transaction before 10.30am on a Banking Day, We will use reasonable endeavours to commence processing of that Instruction on that Banking Day. Transactions involving currencies other than Sterling require a two day call period, and therefore Your non-Sterling or currency exchange Instruction will not be completed until after two Banking Days. Our General Terms and Conditions including Clauses 3.14, 3.15, 4.13, 4.14, 5.1, 5.2 and 5.3 apply. You may not be able to give us Instructions for certain types of non-Sterling or currency transaction using the Internet Banking Service. If You have difficulty in giving us Your Instruction by means of the Santander Isle of Man branch Internet Banking Service, You should telephone Us. You should note that Clause 4.8 of our General Terms and Conditions applies in relation to the timescale within which Your non-Sterling or currency exchange Instruction will be carried out.
6.17 We reserve the right to contact You regarding any Instructions including but not limited to withdrawal requests, in order to perform security checks. We will not be liable or responsible for the consequences of any delay or any loss arising as a result of Us being unable to contact You to complete Our security checks.
6.18 The maximum value of any one Instruction which You may give to Us using the Santander Isle of Man branch Internet Banking Service is £100,000 on a Sterling denominated account, €100,000 on a Euro denominated account and $100,000 on a US Dollar account. We reserve the right to refuse to process multiple Instructions for transactions which together total more than £100,000, €100,000 or US $100,000 respectively if those Instructions are given to us on the same day or on successive days or if we consider at our sole discretion that Your Account may be at risk. The minimum value of any withdrawal or internal transfer request which you may give to us using the Santander Isle of Man branch Internet Banking Service is £1,000 on a Sterling denominated account, €1,000 on a Euro denominated account and $1,000 on a US Dollar account. This limit applies to both cheque and Direct Transfer withdrawal requests. No cash withdrawal requests are permitted.
6.19 e-Products are subject to different rules in relation to withdrawal and internal transfer instructions and these are set out in the Special Conditions of the e-Product which override Clause 6.18.
6.20 You may instruct us to close your account via secure message using the relevant subject option.
6.21 Withdrawal requests by Direct Transfer will only be accepted to Nominated Accounts held in Your own name. We will not accept your authorisation to make payment to third parties by Direct Transfer. If you wish to transfer funds to Your account at a third party bank, You must provide us in advance with the details of Your Nominated Accounts and verify those accounts to our satisfaction. A maximum of 2 Nominated Accounts may be chosen (except e-Products where only 1 Nominated Account is permitted), including any accounts which You have nominated under our telephone and fax banking service (referred to in Clause 12 of our General Terms and Conditions). You are responsible for providing us with complete and accurate details of Your Nominated Accounts, including as applicable the bank name, bank branch or identifying number, account holder name, account number, sort code, SWIFT Code, routing number, IBAN code and any other details such as sub-accounts or references necessary to ensure that the funds are correctly applied. We will not be held responsible for any losses arising due to the Nominated Account details provided by You being incomplete or incorrect. If You wish to add a Nominated Account or change a Nominated Account, You must advise us in advance and we reserve the right to make such security checks as we may consider appropriate before accepting Your new Nominated Account. This may take several days. We will notify You when Your Nominated Account has been accepted. We will not accept any Instruction to pay funds from Your Account to Your Nominated account until We have accepted your Nominated Account and notified You of its acceptance.
6.22 Withdrawal requests by cheque may only be made payable to the account holder(s). Cheques will only be sent to Your registered correspondence address. Cheque withdrawals are not permitted from e-Products.
6.23 You undertake to co-operate fully with Us in any investigation which We may wish to carry out in relation to the use of the Santander Isle of Man branch Internet Banking Service.
6.24 We shall not be required to carry out Instructions in any particular order.
6.25 We may place messages or directions on Our Website and You should from time to time check Our Website for such messages or directions. If Your Account is internet based You must ensure that You update Us on any changes in Your e-mail address.
6.26 You must notify Us immediately via the Helpline if You become aware of any error or any suspected error in the Santander Isle of Man branch Internet Banking Service or in any transaction resulting from using it. You should check your statements of account carefully.
6.27 We do not make a charge for registering Your account for the Santander Isle of Man branch Internet Banking Service. However, our schedule of banking charges for standard banking services will apply to all Instructions which You give to Us by means of the Internet Banking Service. Clause 10 of our General Terms and Conditions applies. Our schedule of charges can be found on Our Main Website.
7. Telephone Help Service
7.1 We operate a Telephone Help Service between the hours of 9.00am and 5.00pm UK time Monday to Friday, except Wednesdays from 9.30am to 5.00pm to:
- assist You in accessing or using Your Account on Our Internet Banking Service;
- to assist You with procedural queries about Our Internet Banking Service. Technical support will not be provided.
You must identify yourself to our satisfaction by answering security questions before We will allow You access to information about Your Account. If You do not identify Yourself to Our satisfaction, we reserve the right not to release any information to You about Your Account. If You wish to use the telephone or fax method of providing us with Instructions, you must apply for Our Telephone and Fax Banking Service by completing and sending to Us the relevant application form for this service which can be obtained from Our Main Website. Clause 12 of our General Terms and Conditions applies to the Telephone and Fax Banking Service.
7.2 All telephone charges You incur in using Our Telephone Help Service must be paid by You.
7.3 You accept that:
- the records We maintain of any instructions You give to Us will be conclusive evidence of Your Instructions and of the time when they are given (except in the case of an obvious mistake);
- We shall not be liable for any loss You may suffer if Your Instructions are inaccurate, incomplete or wrong.
7.4 We may record and monitor telephone calls between You and Us to make sure that We carry out Your Instructions correctly and for training and security purposes.
8. Security Information - General
8.1 You must:
- Immediately memorise Your Security Information and destroy any advice containing the Security Information (except that You may keep a record of the User ID);
- Not keep any record of Your Security Information (with the exception of the User ID) without disguising it;
- Keep Your Security Information secret and do all You can to prevent any other person from finding out Your Security Information;
- Not quote the Security Information (with the exception of the User ID) in any written correspondence.
8.2 You must not allow any other person to use Your Security Information.
8.3 You must tell Us immediately by telephoning the Telephone Help Facility if:
- You know or think that some other person is accessing or using or has tried to access or use Your Account;
- You know or think that some other person knows Your Security Information;
- You have forgotten Your Security Information.
If You know or think that some other person knows Your Security Information, You must immediately change Your Password and Your Memorable Information using the online facility provided, to ensure that no other person can access Your Account.
8.4 If Your Security Information is used by some other person with Your permission or You have been fraudulent or negligent and You or We suffer loss as a result, You will be liable for all losses.
8.5 We may give information to the police or to a regulatory authority, without asking You, about any misuse or abuse of Your Account, Your Security Information or Our computer system.
8.6 Whilst We will check that any Instruction given relating to Your Account is given with the correct Security Information, We shall not be obliged to take any further steps to check that the Instructions are given by You.
8.7 We may require You to change Your Security Information at any time and for any reason. You must change Your Security Information if We so request.
8.8 Whilst We will take all reasonable steps to safeguard the security of Your confidential information, We cannot guarantee the security of any confidential information which is transmitted through the Internet. Please read the Privacy Statement on Our Website.
9. Security Information - Your Equipment
9.1 You must ensure that You are authorised to use Your Equipment if it is not owned by You and that no one can oversee or in any other way monitor Your use of the Santander Isle of Man branch Internet Banking Service.
9.2 You must always exit the Santander Isle of Man branch Internet Banking Service when leaving Your Equipment unattended and ensure no one else has access to Your Security Information.
9.3 You must ensure that Your Equipment has appropriate and up to date security software installed, to guard against viruses and to prevent fraudulent attack on your computer activities including your use of our internet banking service.
10. Security Information - Telephone Help Service
10.1 You must not quote Your Internet Banking Service Security Information (with the exception of the User ID) when using Our Telephone Help Service. We will ask you security questions about Yourself and Your Account from Our records to assist Us in identifying You. When answering Our security questions You must ensure that You cannot be overheard. If You do not identify Yourself to Our satisfaction, We reserve the right not to release any information to You about Your Account. We may also suspend or terminate your Internet Banking Service access to Your Account.
11. Exclusion of Liability
11.1 We shall not be liable to You for any loss or damage (other than that which cannot be excluded in law) which You may suffer as a result of:
- Our having acted upon Your Instructions received using the Security Information or following receipt of any information from You;
- Any misuse or abuse of the Santander Isle of Man branch Internet Banking Service by You;
- Your Security Information having been disclosed by You to someone else;
- Our system for any reason being unavailable;
- The acts or omissions by Your Internet Service Provider or aggregation service (see Clause 11.3 regarding aggregation services).
We will be liable for losses (subject to the limitation in clause 11.3) if Instructions are not given by You unless:
- You have acted fraudulently; or
- You have failed to exercise reasonable care; or
- You have failed to follow security requirements in our Account Terms or these Legal Terms including the safeguards in clauses 7, 8, 9 and 10; or
- the Instruction was made by someone else with Your permission.
11.2 We shall not be liable for any errors or delay or failure to follow Your Instructions if this is due to anything beyond Our control, for example:
- industrial action;
- fire, flood, explosion, governmental act;
- the failure, directly or indirectly of any power supply, machine, data processing system, data transmission link, or telephone link;
- extraordinary business volumes, interruption of normal operations for any reason beyond our control, or other unexpected circumstances having an effect on Our business operations.
11.3 Any liability We may have to You will be limited to the value of the transaction during the course of which such liability arose. We shall not be liable to You in any circumstances for any loss or damage (other than that which cannot be excluded in law) which:
- is not direct; or
- is beyond Our reasonable control; or
- which We could not reasonably foresee.
11.4 We regularly update Our Website. The content of and the products and services featured in Our Website are subject to change at any time without notice.
11.5 Nothing in these Legal Terms seeks to exclude or restrict liability for death or personal injury resulting from Our negligence.
11.6 We will not be liable for the financial consequences of any dispute arising between joint holders of Accounts in the event that a dispute arises due to disagreement between joint holders about Instructions given to Us using the Santander Isle of Man branch Internet Banking Service. Clause 7 Account Disputes of our General Terms and Conditions will apply.
12. Your Liability
12.1 You will be liable to Us for (and agree to indemnify Us against) all actions, claims, costs, damages, demands, expenses, liabilities, losses and proceedings We directly or indirectly incur or which are brought against Us if You have:
- acted fraudulently;
- failed to exercise reasonable care;
- misused or abused the Santander Isle of Man branch nternet Banking Service;
- failed to observe and comply with these Legal Terms (including Clauses 8, 9 and 10).
12.2 If You use an account aggregation service (for example, a service that enables You to access on a single web-page some or all of Your online accounts, whether with Isle of Man branch of Santander UK plc or another financial services provider), You may be liable for any fraud or errors that occur on those accounts as a result. If You choose to use such a service, You should follow any security advice that We or the account aggregation service provider give You.
13. Termination of the Service
13.1 You can terminate Your use of the Santander Isle of Man branch Internet Banking Service by telephoning the Telephone Help Service or upon giving Us written notice by traditional post or such other means as We may agree with You. Please bear in mind that You may need to have internet access as a condition of some of Our Accounts.
13.2 We may end Our agreement with You at any time. We will give You at least 30 days prior notice if We wish to end Our agreement with You. However We may give You a shorter period of notice (provided that such notice is reasonable in all the circumstances):
- where security requires it; or
- in circumstances beyond Our control; or
- in the event of fraud; or
- Your failure to observe and comply with these Legal Terms.
13.3 Any Security Information or documentation relating to the Santander Isle of Man branch Internet Banking Service remains Our property, and upon termination of the Santander Isle of Man branch Internet Banking Service, for whatever reason, shall be returned to Us and/or destroyed, as instructed by Us at that time. Such material shall not be copied, transcribed or used for any purpose other than as specifically authorised in these Legal Terms.
13.4 The following clauses shall still remain in force if Our agreement with You in respect of the Santander Isle of Man branch Internet Banking Service ends: Clauses 5.1, 7.3, 11, 12, 13.3, 13.4, 13.5, 13.6, 15, 16.1, 16.2 and 16.3.
13.5 Termination of the Santander Isle of Man branch Internet Banking Service will not affect any rights We may have against You or any liabilities You may have to Us.
13.6 Upon termination We shall at Our discretion either carry out or refuse to carry out any outstanding Instruction You may have given to Us.
13.7 Upon closure of all of Your Accounts, which You have registered for the Santander Isle of Man branch Internet Banking Service, Your use of the Santander Isle of Man branch Internet Banking Service will end.
14. Changes to these Legal Terms
14.1 We may change these Legal Terms and will tell You about any changes. We will tell You about any changes by:
- writing to You; or
- a message on or with Your Account statements; or
- a message on Our website; or
- electronic mail.
14.2 If the change in these Legal Terms is to Your disadvantage We shall tell You about it at least 30 days before We make the change.
14.3 We will make any other changes without prior notice and tell You about them within 30 days.
15. Applicable Law
These Legal Terms shall be governed by and interpreted in accordance with Isle of Man law. The Isle of Man courts shall have sole jurisdiction over any disputes arising from Your use of the Santander Isle of Man branch Internet Banking Service.
16.1 Each of these Legal Terms is separate from all other Legal Terms, so that if one Legal Term is found to be invalid or unenforceable this will not affect the validity of any of the other Legal Terms.
16.2 If We do not enforce any of the rights We have under these Legal Terms, or if We delay in enforcing them, that does not stop Us from taking any action to enforce Our rights in the future.
16.3 The headings used in these Legal Terms are for ease of reference only and shall not affect the meaning of these Legal Terms.
16.4 We or You may contact each other by post, telephone, electronic mail or any other means We agree. We will ask You for Your Security Information when You telephone Us.
16.5 If We need to send You a formal notice (other than those concerned with the day to day operation of the Account or changes to these Legal Terms) We will send the notice to you by post. We will treat all letters and other material we send to you as arriving 2 Banking Days after they are posted to you in the Isle of Man or United Kingdom or elsewhere in the British Isles, or 7 Banking Days if posted to an address other than this.
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