TRUST INTERNATIONAL PREMIER BANK | Other products

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If your Account is held in the U.S.A, your Agreement in Trust International Premier Bank. Please note any new Trust International Premier Bank Accounts will be opened at our International Branches. If your Account is held in Europe, your Agreement is Trust International Premier Bank (Europe). These contact details are also set out at Appendix 2 of the relevant Customer Relationship Agreement, as described below.

 

About this Agreement

These Account Conditions detail the specific terms which apply to the Account. These Account Conditions, together with the Application Form, the relevant Customer Relationship Agreement and the Confirmation we will send to you (referred to collectively as the "Agreement"), govern the relationship between us and you.

 


Fixed Term Deposit held with Trust International Premier Bank (Europe) as indicated in the Confirmation. This Account as detailed in the Table of Accounts in the Trust International Premier Bank (Europe) Customer Relationship Agreement.

Account Conditions: the conditions contained in this document, which relate to the Account.

Section 1 – Definitions

In these Account Conditions, the following words have the following meanings.

Account: means each

Application Form: the application you have made to us to open your Account.

Confirmation: the document sent to you, of the same name, confirming the fixed rate of interest and the start date and maturity date.

Customer Relationship Agreement: the agreement between us and you, of the same title, which is available on our website trustipbank.com and as may be requested by you at any time by contacting us.

Initial Deposit: the amount you state on the Application Form, which must be at least equal to the Minimum Balance and not more than the Maximum Balance.

Maximum Balance: £50,000,000, US$50,000,000, €50,000,000 (unless agreed otherwise) or for an Account denominated in any other currency, such amount as we advise you when you enquire about or open your Account.

Minimum Opening Balance: £50,000, US$50,000, €50,000 or for an Account denominated in any other currency, such amount as we advise you when you enquire about or open your Account.

Servicing Account: the Accounts (as detailed in the Table of Accounts in the relevant Customer Relationship Agreement) Money Market Call Account or other Call Account held in the same name, currency and jurisdiction as the Account, which shall be nominated by you in the Application Form.

Term: the period you have selected which is fixed for a period between one week and five years from the start date shown in your Confirmation. This period is the total length of time between the start date and maturity date set out in your Confirmation.

We/Us: means Trust International Premier Bank or Trust I.P.B. if you have an Account in the Trust Group.

Capitalized terms used but not otherwise defined herein shall have the meaning given to such terms within the relevant Customer Relationship Agreement.

Section 2 – Eligibility criteria

  • 2.1 You must, at all times for which the Account is open, maintain the Servicing Account.
  • 2.2 You will only be eligible for the Account if the law or regulations in your home country or country of residence do not prohibit you from entering into the Agreement.
  • 2.3 In addition to conditions 2.1 and 2.2, other eligibility criteria may apply to the Account. We will make you aware of any additional eligibility criteria when you enquire about or apply for the Account.
  • 2.4 You must advise us of any change in the information you provided to us in the Application Form or as part of the application process, at any time, as this may mean that you are no longer eligible for the Account.
  • 2.5 We may change the eligibility criteria for the Account from time to time. In such circumstances, we will notify you of the changes to our eligibility criteria in accordance with the relevant Customer Relationship Agreement.
  • 2.6 If you do not satisfy the eligibility criteria for the Account at any time, we reserve the right to refuse to open the Account or to close the Account if already opened, in accordance with the relevant Customer Relationship Agreement.

Section 3 – The Account

  •  3.1 Currency, funding and fees
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  • 3.1.1 The Account will be denominated in a single currency, Euro International or any other currency available at the time you apply for the Account, as confirmed in the Confirmation sent to you for the Account.
  • 3.1.2 The Account requires you to pay the Initial Deposit into the Servicing Account.Deposits cannot be made in cash, only to Platinum Service Accounts may be eligibly. Deposits in to the Servicing Account must be made in accordance with the account conditions applicable to that account (of which you have been notified). The Initial Deposit will be automatically transferred to the Account the same day, if the Account is denominated in Sterling, or after two Working Days, if the Account is denominated in any other currency.
  • 3.1.3 During the Term, you may not make any deposits into the Account, or withdrawals from the Account, after paying the Initial Deposit into the Servicing Account.
  • 3.1.4 There may be charges for particular banking or other services we provide. We may also charge you for making deposits, withdrawals, transfers and/or payments. By making a deposit or withdrawal or instructing a transfer and/or payment you agree to pay any charges which apply. For information on our standard fees please see our banking charges guides, and for other charges please contact us, visit our Website or contact your relationship manager if you have one. Any changes to our fees will be notified to you in accordance with the relevant Customer Relationship Agreement.
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    3.2 Closing an Account

     

  • If you contact us and close your Account before the maturity date shown in your Confirmation, breakage fees will apply. You will be required to pay a breakage fee equal to 0.3% of the balance of your Account for each remaining full month of the Term you have selected. For example, if you open an Account with £50,000 for 12 months and close the Account after just two months, the breakage fee will be £1.500 calculated on the basis of (0.3% x £50,000) x 10 (being the remaining number of months on the selected Term). The breakage fee will be deducted from your Account prior to the remaining balance of your Account (the Initial Deposit plus any interest earned minus the breakage fee) being transferred to the Servicing Account for you to withdraw. This is subject to a minimum charge of £100 (or currency equivalent).

     

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    3.3 Interest

     

  • 3.3.1 You will begin to earn interest on your Account from the date we receive 'cleared funds' into your Account, subject to condition 3.1.2. 'Cleared funds' are funds that are in your Account and available for you to use.
  • 3.3.2 We calculate interest daily and the amount of interest you receive will depend on the credit balance of your Account. Interest is only paid on 'cleared funds'.
  • 3.3.3 Interest will be paid on the credit balance during the Term at a fixed rate to be determined at the start of the Term and detailed in your Confirmation.
  • 3.3.4 Where interest is payable by us it will be paid to the Servicing Account at the maturity date shown in your Confirmation.
  • 3.3.5 Interest will be paid without deduction, unless otherwise required (i) by law or (ii) by you.
  • 3.3.6 If the interest payment date is not a Working Day, interest will be paid on the next Working Day.
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    3.4 The conclusion of the Term

     

  • 3.4.1 A Confirmation will be sent to you at the start of the Term and will remind you that it is your responsibility to contact us to give us your maturity instructions prior to the maturity date (as set out in your Confirmation) of the Account.
  • 3.4.2 The Term shall be the period selected in the Application Form or instructed by you from time to time.
  • 3.4.3 Unless we already have maturity instructions from you, or you request that we don't contact you, if your deposit is for more than three months we will contact you prior to the maturity date in your Confirmation to request your instructions. Subject to you continuing to meet the eligibility criteria, in the absence of instructions to the contrary being received:
    1. for an Account in Sterling, before 4pm (UK time for Accounts with Trust International Premier Bank on the last Working Day prior to the maturity date shown in your Confirmation; or
    2. for an Account in any other currency, before 4pm (UK time for Accounts with Trust International Premier Bank on the last Working Day three days prior to the maturity date shown in your Confirmation, we will:
    3. for Accounts where the Term is one year or more, pay the entire balance of the Account (including any interest earned and paid to the Account) in to the Servicing Account; or
    4. for Accounts where the Term is less than one year, reinvest the entire balance of the Account (including any interest earned and paid to the Account) in a new Fixed Term Deposit account with a term that is the same as the Term. The reinvestment will be at the new rate of interest applicable for that particular term on the date of reinvestment.
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    For short-term deposits of three months or less, we will not write to you prior to the maturity date to request your instructions and we will reinvest the entire balance of the Account, as described above.

  • 3.4.4 You can find the indicative rate applicable to your new Fixed Term Deposit account by visiting our website or contacting us.
  • 3.4.5 A new Confirmation will be sent to you upon reinvestment.

Section 4 – Platinum Service

4.1 - Platinum Service Account

  • You are automatically eligible if you open your account with a minimum deposit of € 500.000 Euros.
  • You can be eligible if you upgrade your account for this service, with a deposit of € 500.000 Euros at any time

  • You are eligible if your balance due a year period, as a deposit balance superior than € 1.000.000 Euros

 

4.2 - Platinum Service description

  1. Personal Bank Manager
  2. Cash deposit Management anywhere in the world, if eligibly. (in some countries are unavailable)

  3. Cash withdrawal Management anywhere in the world, if eligibly. (in some countries are unavailable)

Please see other premier account conditions