Tariffs and Conditions

Transcription

1 Tariffs and Conditions The present translation is furnished for the customer s convenience only. The original German text of the Tariffs and Conditions is binding in all respects. In the event of any divergence between the English and the German texts, constructions, meanings, or interpretations, the German text, construction, meaning or interpretation shall govern exclusively. General Conditions Applicable to the Tariffs and Conditions These Tariffs and Conditions are subject to the General Terms and Conditions of ING Bank, a Branch of ING-iBa AG (referred to as ING Bank ), to the specific terms and conditions for other banking services, and to the following additional terms and conditions: Unless explicitly otherwise state, all prices are quoted in Euro and net of VAT. The Tariffs and Conditions refer only to the services of ING Bank and related charges. Charges of other payment service providers (in particular charges of correspondent banks) are not included and, where applicable, shall be invoiced separately to the customer. We reserve the right to regularly review our Tariffs and Conditions and, where appropriate, to make adjustments to them, in particular in the event of changes to the legal or regulatory environment with a corresponding impact on our cost or fee structure, where there are changes to market conditions with a corresponding impact on our services (e.g. interest rates). The Tariffs and Conditions shall be deemed valid for one calendar year after entering a business relationship. We specifically reserve the right of early modification of our Tariffs and Conditions when the customer's creditworthiness deteriorates, in the event of a change of the volumes agreed with the customer, of the STP-Rate 1 for handling transactions, or of the intended implementation (e.g. number of accounts maintained), In the event of changes in the Tariffs and Conditions, the customer may termintate the use of the services affected by the changes, or the overall framework agreement for payment services, prior to those changes becoming effective, without notice period and exempt from charges, on the basis of the General Terms and Conditions. ING Bank can determine and apply fees and charges for other services, not listed in these Tariffs and Conditions, at its reasonable discretion ( 315 BGB), when such services are delivered based on a customer s instruction or in the presumed interest of a customer, and when such services can only be delivered against compensation due to circumstances. 1. Bank Name and Address for Service of Summons ING Bank, a Branch of ING-iBa AG Hamburger Allee Frankfurt am Main 2. Postal Address ING Bank, a Branch of ING-iBa AG Hamburger Allee Frankfurt am Main P.O. Box Frankfurt am Main Telephone, Website +49 (0) Please note: When delivering instructions (e.g. payment orders) to ING Bank, customers should use the means of communications agreed with ING Bank, such as the agreed electronic banking channel. 3. Supervisory Authorities Bundesanstalt für Finanzdienstleistungsaufsicht, Graurheindorferstrasse Bonn 4. Registration with the Commercial Register Frankfurt am Main, Local Court, HRB 7727 General Information about ING Bank 1 STP stands for 'Straight-Through-Processing', i.e. automatic processing of transactions from the time transfer instructions are received until they are fully executed. As a rule, fully automated transaction execution is not possible in the case of paper-based instructions, or in the case of instructions containing errors requiring correction by ING Bank.

2 Charges and Fees I Accounts and Interest Rates I a. Account Management Account management 8.00 per account and month Booking fee 0.30 per posted booking Provision of accounts in currencies other than Euro (EUR), US ollar (US) or British Pounds Sterling (GBP) is subject to separate negotiation and agreement with ING Bank. I b. Interest Rates Interest rates on credit EUR, US, GBP balances Other currencies Interest rate for unauthorized overdrafts 2 in EUR Interest rate for unauthorized overdrafts² in US Interest rate for unauthorized overdrafts² in GBP Interest rate for unauthorized overdraft²(other currencies) I c. Account Information elivery of account statements Electronically, via electronic banking, per account and month, at the end of the day as MT940 Electronically, via electronic banking, intraday as MT942 3 reports Paper account statements per post Further copies of account statements uplicate account statements, for activities up to one year old uplicate account statements, for activities older than one year 0.00% p.a. upon request EONIA % p.a. LIBOR ON (US) % p.a. LIBOR ON (GBP) % p.a. upon request per account and month actual postage charges per account and month per duplicate per duplicate Account information from/to other payment service providers Receipt of electronic account statements (MT940, per account and month MT942) from payment service providers via SWIFT and provision to customer via electronic banking Forwarding of electronic account statements (MT940, per account and month MT942) to payment service providers via SWIFT II Payment and Collections II a. Funds Transfers SEPA transfers domestically and within the European Union and EEA States in Euro outgoing The following Terms and Conditions apply to the forms of transfers referenced below: SEPA transfers: - Currency: Euro - Amount: Unlimited - Recipient's IBAN and BIC address provided - Fee sharing arrangement "SHA" (sharing fees) - Recipient located within the European Union/ EEA Member State or Switzerland The tariffs and conditions described in the following chapter entitled "International transfers (non-eu/eea countries) and transfers in foreign currencies" apply to transfer instructions which do not meet these criteria. Transfers electronically transmitted via electronic banking SEPA individual transfers SEPA transfers in bulk orders SEPA urgent transfer ( PriorityInstruction High ) with same-day execution SEPA transfers with code word SALA, in bulk orders SEPA individual transfers with code word TREA (execution via TARGET2) SEPA individual transfers with code word INTC Transfers within the EU and the EEA Member States, non-urgent, non-sepa transfer 0.12 per SEPA transfer in bulk order 5.00 per transfer per transfer 0.075%, min , max , per transfer 2 Overdrafts on accounts are not permitted by default. Should nevertheless an overdraft be agreed at short notice with ING Bank, the debit interest rates referenced here will be applied at that time. ING Bank reserves the right to unilaterally adjust these debit interest rates for unauthorized overdrafts without further notice. 3 Intraday MT942 reports are provided only by prior agreement with ING Bank.

3 Urgent transfer (execution via TARGET2) Urgent transfer (execution to payment service provider not affiliated with TARGET2) Surcharge for paper-based 4 / manual (urgent-) transfers per transfer 0.075%, min , max , per transfer surcharge for urgent processing per transfer, as fax or letter SEPA transfers domestically and within the European Union and EEA States in Euro incoming Incoming SEPA transfer Incoming urgent transfer (via TARGET2) Incoming transfer, non-urgent, non-sepa transfer 0.075%, min , max per transfer Incoming urgent transfer (from payment service 0.075%, min , max per transfer providers not affiliated with TARGET2) International transfers (non-eu/eea countries) and transfers in foreign currencies outgoing Transfers, electronically transmitted via electronic 0.075%, min , max per transfer banking (bulk orders are broken down into the individual transfers therein) Surcharge for urgent transfer per transfer Surcharge for paper-based / manual (urgent-) per transfer, as fax or letter transfers International transfers (non-eu/eea countries) and transfers in foreign currencies incoming Incoming transfer in Euro, non-urgent 0.075%, min , max per transfer Incoming transfer in foreign currency, non-urgent 0.075%, min , max per transfer Incoming transfer in Euro, urgent 0.075%, min , max per transfer Incoming transfer in foreign currency, urgent 0.075%, min , max per transfer ING intra-company payments outgoing The following terms and conditions apply to ING intra-company payments: - Transfers to accounts held within ING Group in selected countries 5, within same customer group - Currency of the payment order must be the same as the currency of the paying and of the receiving accounts - Currencies other than EUR are subject to separate agreement with ING Bank Transfers electronically transmitted via electronic banking Transfer within the branch Transfer to another ING branch Surcharge for paper-based / manual (urgent-) transfers ING intra-company payments incoming Incoming transfer within the branch Incoming transfer from another ING branch Standing orders Set-up of standing order Amendments to standing order Cancellation of standing order 9.00 per transfer per transfer, as fax or letter per standing order per standing order II b. irect ebits omestic and SEPA Requests to honor direct debits (debit to customer account) Paying out on a CORE-SEPA direct debit Paying out on a B2B-SEPA direct debit Return of a domestic SEPA direct debit 3.00 per direct debit Return of an international SEPA direct debit Mandates for SEPA Setting up B2B SEPA 5.00 per mandate direct debits mandate Amendment of B2B 3.00 per mandate SEPA mandate Cancellation Implementing blocks and filters 6 on SEPA mandates 5.00 per creditor 4 ING Bank does not accept SEPA transfers submitted in paper format. Payment orders for these payment instruments may only be transmitted electronically via electronic banking. 5 List of partipating countries can be supplied upon request. 6 Blocks and filters on SEPA products refer to blocking all requests to honor SEPA direct debits, blocking requests to honor SEPA direct debits from specific creditors, from specific mandates or from specific transactions, and putting a cap on amounts per mandate. ING Bank, a Branch of ING-iBA AG 3 Tariffs and Conditions

4 Unfounded objection to a debit from an unauthorized SEPA direct debit Obtention of a copy of mandate per unfounded objection per copy Submission of direct debit orders for collection (credit to customer account) SEPA CORE, SEPA COR1 and SEPA B2B direct 0.12 per individual debit in bulk order debits in bulk, electronically submitted via electronic banking Returned direct debit, ING Bank s own charge (in 3.00 per returned direct debit addition to possible charges by other payment service providers) Reimbursement of the amount credited, of an authorized SEPA direct debit Reimbursement of the amount credited, of an per reimbursement case unauthorized SEPA direct debit Submission of direct debit orders for collection is subject to separate agreement with ING Bank. Note: The service irect ebits may require a credit facility to be arranged in advance. II c. Cheques Requests to honor cheques (debit to customer account) Honoring cheques in Euro Honoring cheques in foreign currency and honouring international cheques in EUR Prenotation of a stop payment Issue of Euro-denominated cheque forms the fee applicable for the respective (international-) transfer in that particular currency, per cheque per cheque (plus VAT) for a block of 10 cheques Submission of cheques for collection (credit to customer account) Cheques in Euro, drawn on a domestic bank 3.00 per cheque Cheques in Euro, drawn on a foreign bank/cheques in 0.2%, min , max per cheque foreign currency Cheques returned unpaid and/or protested 0.2%, min , max per cheque Surcharge for investigations by ING Bank, in case of 5.00 per cheque incomplete credit information or missing cheque collection forms Provision of Lockbox Service per account and month Provision of the Lockbox Service is subject to separate agreement with ING Bank. For precise terms and conditions, customers may refer to the separate Lockbox Agreement for the collection of cheques directly from a customer s debtors. II d. Cards ebit cards girocard (Maestro) Card issuance per card, one-time fee Annual fee per card and year Cash withdrawal at ATMs of ING iba AG Cash withdrawal at other ATMs applicable tariffs of the respective payment service provider The services described in this section must be separately agreed with ING Bank. Credit cards ING Corporate Card (MasterCard) Credit cards must be separately agreed with ING Bank N.V., Amsterdam (the provider). We are happy to forward upon demand the tariffs for this service. The closing statements for this service will be sent directly by the provider. III Pooling and Liquidity Structures The services described in this section must be separately agreed with ING Bank. Note: These services require among others the arrangement of credit facilities with the customer. For this reason, the terms and conditions described in this section are only informative in nature. They do not represent an offer or a commitment by ING Bank to provide such credit facilities. Local zero-balancing Implementing a local Set-up per account, one-time fee zero-balancing structure Amendment per account Cancellation per structure Base fee for local zero-balancing per account and month Fees for pooling transactions, per pooling transaction Local zero-balancing is executed daily, as part of local end-of-day processes. Cross-border cash-balancing ING Bank, a Branch of ING-iBA AG 4 Tariffs and Conditions

5 Implementing a crossborder cash-balancing Set-up per account, min per structure, onetime fee structure Amendment per account Cancellation per structure Base fee for inclusion of a local account in a crossborder per account and month intra-day cash-balancing structure Base fee for inclusion of a local account in a crossborder per account and month end-of-day cash-balancing structure Fees for pooling transactions, per pooling transaction Cross-border intra-day cash-balancing is executed daily at 3.30pm. Cross-border end-of-day cash balancing is executed daily, in the morning of the following business day, based on the last end-of-day balances. Multi-bank funding & sweeping Base fee for inclusion of local account in a cashbalancing structure with another payment service provider Fees for pooling transactions per account and month the fee applicable for an urgent transfer in the respective currency, per pooling transaction Executing payments / sending instructions from/to 3 rd -party payment service providers using MT101 messages MT101 from 3 rd -party payment service providers per account, one-time set-up fee MT101 to 3 rd -party payment service providers per account and month IV Electronic Banking Services On site installation support On site support for installing Multiweb/Multicash, on site training in the use of these applications (plus VAT) per day Multiweb Installation executed by the customer Installation, where installation support is required on see "Onsite installation support " site Usage fee per account and month Installation of Multiweb may be performed by the customers themselves. Where necessary, ING Bank is happy to offer the above mentioned support and training separately. Multicash Installation see "On site installation support " Licence fee (plus VAT), one-time fee Usage fee per account and month Technical support for Multicash (EBICS) applications of other payment service providers is offered exclusively by those suppliers. EBICS Connection for Payment-Factory Services Implementation Fee per structure, one-time fee Annual Maintenance Fee per structure and year The EBICS Connection for Payment-Factory Services must be separately agreed with ING Bank. Other applications The use of other electronic banking applications of ING Group (e.g. Telelink@Isabel, File Transfer Protocol, SwiftNet, etc.), is subject to the terms and conditions of the respective provider. V Other Services Inquiries and investigations Inquiries (incl. investigation requests), simple per inquiry Inquiries (incl. investigation requests), complex per inquiry (plus additional charges of other Inquiries (incl. investigation requests), for activities older than 6 months payment service providers) per inquiry (plus additional charges of other payment service providers) Confirmations and advices Annual bank confirmation Auditor certificates Confirmation of capital for company under incorporation for the first up to 3 (three) pages, per page thereafter per request 7 Simple inquiries and investigation requests are such, which occur on the phone and, which are resolved within the same phone call. ING Bank, a Branch of ING-iBA AG 5 Tariffs and Conditions

6 Separate notification of payment to beneficiary Separate confirmation of executed payment Tax certificate Replacement tax certificate Rejections, repairs, revocations and recalls Notification of the rejection of execution of a payment order Surcharge for the repair of a payment order Revocation 8 of a transfer order, after the transfer order was received by ING Bank, prior to the execution of the transfer Recall 9 of a transfer order, after the transfer order was received by ING Bank, after the execution of the transfer Miscellaneous Forwarding of copy of cheque or of cheque original to customer per written notification per written confirmation per replacement per notification per repair per revoked transfer per recalled transfer per cheque or copy 8 ING Bank cannot guarantee the successful revocation of a payment order. 9 ING Bank cannot guarantee the successful recall of a payment order. ING Bank, a Branch of ING-iBA AG 6 Tariffs and Conditions

7 VI Guarantees and ocumentary Trade The services described in this section must be separately agreed with ING Bank. Note: These services require among others the arrangement of credit facilities with the customer. For this reason, the terms and conditions described in this section are only informative in nature. They do not represent an offer or a commitment by ING Bank to provide such credit facilities. VI a. Guarantees Guarantee fees Guarantee fees On request, min per year Other fees Advise of a guarantee 0,10%, min. 100,00 max. 300,00 Opening fee per guarantee Amendment fee Text provided by customer / legal checking of text Claim of a guarantee 0,30%, min 300,00 VI b. ocumentary Trade Import letters of credit Preadvise of a letter of credit Risk opening commission On request, min per commencing month Opening commission Amendment commission ocument handling commission 0.30%, min Commission discrepant documents Refusal and return of documents 0.30%, min Release of goods eferred payment commission On request, min per commencing month Acceptance commission On request, min per commencing month Export letters of credit Pre-advise of a letter of credit Advise of a letter of credit 0.10%, min , max. 300 Commission for transferred letter of credit 0.30%, min Confirmation commission On request, min per commencing month Amendment commission Increase of a confirmed letter of credit On request Pre-check of documents per document set presented ocuments handling commission 0.30%, min Commission for discrepant documents 100 eferred payment commission On request, min per commencing month Acceptance commission On request, min per commencing month Supervisory commission for advised letter of letter with 0.10%, min , max deferred payment Notice of assignment Issuance of a Bill of Exchange Reimbursement commission Import collection Collection Commission 0.30%, min Supervisory commission for handling documents against acceptance Amendment of collection Instructions Release of goods Export collection Collection Commission 0.30%, min Supervisory commission for handling documents against acceptance Amendment of collection instructions Tracers under collection raft raft payable at our counters 0.30%, min raft collection, domestic 0.30%, min ING Bank, a Branch of ING-iBA AG 7 Tariffs and Conditions

8 VI c. Postage for Guarantees and ocumentary Trade Letter 3.50 per mailing Registered mail 7.50 per mailing Courier domestic per mailing Europe per mailing USA per mailing Asia per mailing Africa per mailing SWIFT per message ING Bank, a Branch of ING-iBA AG 8 Tariffs and Conditions

9 Cut-Off Times, Execution Terms and Value ates I Payments and Collections SEPA transfers domestically and within the European Value ate of the ebit Cut-Off Time Union and EEA States in Euro outgoing Transfers electronically transmitted via electronic banking: SEPA individual transfers 4.30pm 10 SEPA transfers in bulk orders 4.30pm 10 SEPA urgent transfer ( PriorityInstruction High ) with 1.30pm same-day execution SEPA transfers with code word SALA, in bulk orders 1.30pm SEPA individual transfers with code word TREA 2.30pm (execution via TARGET2) SEPA individual transfers with code word INTC 1.30pm Transfers within the EU and the EEA Member States, 4.00pm non-urgent, non-sepa transfer Urgent transfer (execution via TARGET2) 4.00pm Urgent transfer (execution to payment service provider 4.00pm not affiliated with TARGET2) Paper-based / manual (urgent-) transfers 9.00am Execution Terms: ING Bank is obliged to ensure that the payment service provider of the beneficiary receives the transferred amount as follows: Transfer in Euro, to another payment service provider in an EU/EEA State Urgent transfers in Euro (via Target 2) to another payment service provider in an EU/EEA State Transfer in an EEA currency other than in Euro, to another payment service provider in an EU/EEA State no later than on the next business day on the account of the payment service provider of the beneficiary if - the transfer is denominated in Euro - fee sharing agreement is not "BEN" or "OUR" - the payer has provided the IBAN of the beneficiary and the BIC of the payment service provider on the same business day on the account of the payment service provider of the beneficiary, if submitted electronically within four business days on the account of the payment service provider of the beneficiary, if - the transfer is denominated in an EEA currency - fee sharing agreement is not "BEN" or "OUR" - the payer has provided the IBAN of the beneficiary and the BIC of the payment service provider The execution term begins at the end of the day on which: - all the necessary details to execute the transfer are provided by the cut-off times stated above, under sec. II. 1 of the "Terms and Conditions for Transfers", and - a sufficient credit balance is available, or sufficient credit facility has been granted, to cover the transfer. SEPA transfers domestically and within the European Union and EEA States in Euro incoming Incoming SEPA transfer Incoming urgent transfer (via TARGET2) Incoming transfer, non-urgent, non-sepa transfer Incoming urgent transfer (from payment service providers not affiliated with TARGET2) International transfers (non-eu/eea countries) and transfers in foreign currency outgoing Transfers, electronically transmitted via electronic banking (bulk orders are broken down into the individual transfers therein) Urgent transfer Paper-based / manual (urgent-) transfers Value ate of the Credit Value ate of the ebit with / without currency conversion; (execution on +2) Cut-Off Time 1.30pm (Euro) am (foreign currency) am 9.00am International transfers (non-eu/eea countries) and Value ate of the Credit Cut-Off Time transfers in foreign currency incoming Incoming transfer in Euro/EEA currency, non-urgent 4.00pm Incoming transfer in foreign currency, non-urgent am 10 Cut-Off Time 1:30pm for the same-day execution of a SEPA transfer, when executed in favor of a beneficiary with accounts at another ING Bank branch. ING Bank, a Branch of ING-iBA AG 9 Tariffs and Conditions

10 Incoming transfer in Euro/EEA currency, urgent 4.00pm Incoming transfer in foreign currency, urgent am Credits pursuant to the above table are posted only after ING Bank has received funds covering them. ING intra-company payments outgoing Value ate of the ebit Cut-Off Time Transfers electronically transmitted via electronic banking: Transfer within the branch 4.00pm Transfer to another ING branch (EUR) 4.00pm Transfer to another ING branch(other currencies) 11.30am Paper-based / manual transfers 9.00am Execution Terms: - Transfers within the branch within one business day - Transfers to another ING branch within one business day ING intra-company payments incoming Incoming transfer within the branch Incoming transfer from another ING branch Value ate of the Credit II irect ebits omestic and SEPA Requests to honor direct debits (debit to customer Value ate of the ebit account) Paying out on a CORE-SEPA and COR1-SEPA direct T 11 debit Paying out on a B2B-SEPA direct debit T 11 Submission of direct debits for collection (credit to customer account) Transfers electronically transmitted via electronic banking: CORE-SEPA direct debits, as one-off, as first of a recurrent serie, or with an amended 12 mandate CORE-SEPA direct debits, recurrent in a serie, except the first of that serie COR1-SEPA direct debits B2B-SEPA direct debits Value ate of the Credit Cut-Off Time / ate T 11, if received on T - 6 TARGET days at the latest, by 11.00pm T 11, if received on T - 3 TARGET days at the latest, by 11.00pm T 11, if received on T - 2 TARGET days at the latest, by 11.00pm T 11, if received on T - 2 TARGET days at the latest, by 11.00pm Execution terms for SEPA direct debits: - SEPA direct debits can be used to collect funds both domestically and in other countries participating in the SEPA direct debit scheme. They are denominated in Euro and must provide the IBAN of the debtor (payer) and the BIC of the debtor s (payer s) payment service provider. - The creditor (beneficiary) agrees with the debtor (payer), on the particular date(s) when funds will be collected (T). This date should be on a day on which the TARGET clearing house is open for business (TARGET day). Collections for non-target days will be settled on the next TARGET day. - SEPA direct debit orders must be received by ING Bank in time to be passed on to the payment service provider of the debtor (payer), i.e. not later than the above mentioned Cut-Off Times and ates. - At ING Bank, creditors (beneficiaries) can transmit SEPA direct debit orders up to 6 (six) months prior to the date when funds will be collected (T minus 6 months). 11 "T" means the (TARGET) day on which the creditor (beneficiary) asks for funds to be collected. It coincides with the settlement date, i.e. the date on which the funds move from the debtor s payment service provider, to the creditor s payment service provider, and with the debit date, i.e. the date on which the debtor (payer) is debited. 12 Please note that an existing mandate counts as amended among others when the bank details of the debtor (e.g. account number, payment service provider, BIC or IBAN) change. Thus, any affected recurrent CORE SEPA direct debits do not count as recurrent any longer, rather become with an amended mandate and must be submitted to ING Bank before the respective earlier Cut-Off-ate. ING Bank, a Branch of ING-iBA AG 10 Tariffs and Conditions

11 III Cheque Transactions Requests to honor cheques (debit to customer account) Honoring cheques in Euro Honoring cheques in foreign currency and international cheques in Euro Value ate of the ebit Submission of cheques for collection (credits to Value ate of the Credit Cut-Off Time customer account) Cheques in Euro, drawn on domestic bank noon Cheques in Euro, drawn on a foreign bank/cheques in foreign currency Credit after receipt of funds throughout the day 13 "" means the date on which ING Bank received the cheque for collection prior to ING Bank's Cut-Off Time. ING Bank, a Branch of ING-iBA AG 11 Tariffs and Conditions

12 Annexes and Remarks Countries of the European Union Belgium, Bulgaria, Croatia, Cyprus, enmark, German, Estonia, Finland, France, Ireland, Italy, Greece, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Sweden, Slovak Republic, Slovenia, Spain, Czech Republic, Hungary, United Kingdom EEA Member States Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, enmark, Estonia, Finland, France (incl. French-Guayana, Guadeloupe, Martinique, Mayotte, Reunion), Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovak Republic, Slovenia, Spain, Sweden, United Kingdom EEA zone currencies Bulgarian lew, Croatian kuna, Czech krona, anish krone, Estonian kroon, euro, Hungarian forint, Icelandic króna, Latvian lats, Lithuanian litas, Norwegin krone, Polish zloty, Pound sterling, Romanian leu, Swedish krona, Swiss franc. Business days A business day is any day on which the payment service providers involved in the execution of a payment transaction operate as required to execute that payment. ING Bank operates as required for the execution of payments, on all working days, except on Saturdays on 24 and 31 ecember and on national statutory bank holidays and statutory holidays of the State of Hessen ING Bank supports payment transactions via TARGET on public holidays, on which the TARGET clearing house is open for business ( /target2_leistungsumfang.php#oeffnungszeiten.) Cut-off times and execution terms Instructions received after the respective cut-off times may be executed on the following business day. IBAN and BIC IBAN is the abbreviation for International Bank Account Number. BIC is the abbreviation for Bank Identifier Code. ING iba AG Automatic Teller Machines (ATM) For a current list of ING iba AG's ATMs, customers are advised to refer to Rules on fee sharing in international payment transactions The customer can select among the following fee sharing options when effecting international payments: Payment instruction SHA (SHARE): Payer assumes charges at its bank and beneficiary bears all other charges. Payment instruction OUR : Payer assumes all charges. Payment instruction BEN : Beneficiary assumes all charges, i.e. payment service providers such as ING Bank/correspondence banks will reduce the amount paid/passed through, by their own respective fees. We automatically set payment instructions to SHA for transfers in Euro and EEA currencies, except when the transfer requires a currency conversion, or when the beneficiary is outside the European Union or an EEA State. Meaning of "" on value dates Unless otherwise specified, "" refers to the business date on which ING Bank receives an order from the ordering party prior to the Cut-Off Time applicable thereto in each case. This includes for example, domestic transfer orders, SEPA transfer orders, but also orders to collect direct debits; it also applies to cheques submitted for collection. In the case of incoming transfers and debits which the customer has not itself ordered (e.g. when executing requests to honor direct debits or cheques), "" refers to the business date on which ING Bank has received the incoming transfer, or respectively on which ING Bank has received the request from another payment service provider. Conversion rate for foreign currency transactions Unless otherwise agreed, foreign currency conversions for international transfers are executed at ING Bank's conversion rate from time to time. That conversion rate is based on market rates as of the date of the conversion, which customers may also find, for example, at Reuters. Customers may see the precise conversion rate applied to a given transfer on their bank statements or may subsequently inquire with ING Bank with respect to the rates. ING Bank does not charge customers any additional conversion fees. Repairs to payment instructions Pursuant to our terms and conditions for funds transfers, orders containing errors may be rejected as 'non-executable'. However, we do reserve the right, in individual cases, to make repairs to payment orders. Such repairs are chargeable according to these Tariffs and Conditions. Paper based / manual international transfers in Euro Paper based / manual transfers are considered urgent, if they explicitly state the urgent nature of the transfer, for example by explicitly using words like "urgent" or "telegraphic". International transfers in Euro, which can be identified as urgent and, which are not transmitted electronically via an electronic banking system, will be routed for execution first via Target 2. Should the execution not be possible via Target 2, such a transfer will instead be routed to the next best execution form, e.g. via SWIFT. Rejection of payment orders and return of requests to honor direct debits with insufficient cover Outgoing payments and requests to honor direct debits cannot be executed from accounts with insufficient cover, i.e. from accounts on which there is neither a sufficient credit balance available, nor has sufficient credit limit been granted. ING Bank deletes outgoing payment orders with insufficient cover at the end of the same business day. Customers will be notified about the deleted payment orders promptly thereafter. ING Bank, a Branch of ING-iBA AG 12 Tariffs and Conditions

13 In case of insufficient cover to honor direct debits, ING Bank will notify customers about the direct debit requests by phone, promptly after receiving them. The requests will be returned as rejected at the end of the same business day, if cover remains insufficient. ING does not separately notify customers about the return of rejected direct debit requests. The above mentioned terms before deleting payment orders or returning direct debit requests, are meant to allow customers to subsequently secure sufficient cover. Payment orders or direct debit requests are automatically executed, once sufficient cover becomes available within those terms. Address for cheques submitted for collection Cheques submitted for collection per post should be addressed as follows: P.O. Box Frankfurt am Main This address applies also for the delivery of cheques in the Lockbox Service, directly by your debtors, should you have a prior agreement for this service with ING Bank. Return of cheques with insufficient cover In case of insufficient cover, checks will not be honored and will be returned after one (1) day, without notification to the customer. ING Bank, a Branch of ING-iBA AG 13 Tariffs and Conditions