TERMS & CONDITIONS FOR EBS DEMAND SAVINGS ACCOUNTS Conditions 1. These Conditions apply to the operation of Demand Accounts. Capitalised terms used in these Conditions are defined at the end of this document in the Definitions section. If there is any conflict between these Conditions and the Specific Terms applicable to any Demand Account, those Specific Terms will prevail. 2. Additional terms and conditions apply in relation to viewing and transacting on Demand Accounts online. These are set out in Your Account Online Conditions. Account Opening 3. A Demand Account may be opened by any person who intends to use the account for personal savings purposes. A Demand Account cannot be operated for business purposes for a club, charity, trust, partnership, association or limited company. 4. A Demand Account shall be operated using a Passbook or Card issued by EBS unless specified otherwise in the Specific Terms. Lodgements 5. Cash and Non Cash Items may be lodged to a Demand Account. 6. Cash lodgements are credited immediately to the Demand Account and are available for immediate withdrawal. 7. Non Cash Items are subject to examination, verification and funds clearance. We will credit Non Cash Items to your Demand Account on the same day as we receive cleared funds, unless it is after 3pm on a Working Day in which case your Demand Account will be credited on the next Working Day. It normally takes six Working Days from the date of lodgement to clear cheques and bank drafts unless they are drawn on a non-irish financial institution, in which case they will take longer to clear and additional terms will apply including charges. 8. If a Passbook or Card has been issued but it is not presented when making a lodgement, you will be required to provide your name, address and account number. 9. Your authorisation and consent to a lodgement is evidenced by accepting the lodgement receipt or, if a Passbook has been issued on the Demand Account, by presenting your Passbook for updating. Credit Interest 10. Interest on Demand Accounts will be at a variable rate as advised on account opening. If there is a change to the interest rate, we will notify you not less than 60 days before the date the interest rate change takes effect by publishing details of the new interest rate in at least 2 national daily newspapers. The interest rate will also be available from any EBS office or on our website. 11. Interest will be accrued on a daily basis on credit balances with Deposit Interest Retention Tax being deducted where applicable. Withdrawals 12. Withdrawals may be made from Demand Accounts: 12.1 in cash or by EBS Cheque at any EBS office (Note: EBS Cheques remain the property of EBS at all times); 1
12.2 by using the Card at EBS approved ATMs or by using the Laser Card (Card services are not offered on all Demand Accounts); 12.3 by Online Transfer in accordance with Your Account Online Conditions; and 12.4 by direct debit or standing order in accordance with the relevant mandate and, in the case of direct debits, the Direct Debit Scheme Rules. 13. The maximum daily amount that may be withdrawn from a Demand Account: 13.1 over-the-counter is 1,300, unless alternative arrangements have been made at an EBS office; 13.2 using an ATM is 600; 13.3 using a Laser Card is 2,100 (comprising up to 600 via an ATM and up to 1,500 by Laser Card in up to 6 payment transactions); 13.4 by Online Transfer is 5,000; and 13.5 by direct debit or standing order is the amount(s) specified in the relevant mandate(s). 14. Withdrawals will be debited to the Demand Account immediately upon us processing the Withdrawal Request. 15. Your authorisation and consent to a withdrawal is evidenced by: 15.1 you signing the Withdrawal Request; 15.2 use of your Card and Card PIN; or 15.3 you inputting your registration number and personal access code on the EBS website in accordance with Your Account Online Conditions. 16. The following provisions apply to the cancellation of Withdrawal Requests: 16.1 EBS Cheques may only be cancelled if the original EBS Cheque is returned to an EBS office; 16.2 individual direct debit payments and standing order payments may be cancelled by notifying us in writing up until 3pm on the last Working Day prior to the day agreed for debiting your Demand Account; 16.3 subject to condition 16.2, direct debit and standing order mandates may be cancelled by notifying us in writing; and 16.4 all other Withdrawal Requests may not be cancelled. 17. A Demand Account must operate in credit and there must be sufficient cleared funds (i.e. where payment has been irrevocably received by us) in the Demand Account to meet any Withdrawal Request and any interest, fees, charges, commissions or other items chargeable to the debit of the Demand Account. We may refuse any Withdrawal Request against uncleared funds or where you have not authorised or consented to the withdrawal in accordance with these Conditions and our procedures. 18. We can debit a Demand Account to cover: 18.1 each Non Cash Item which is paid into a Demand Account but later returned to us unpaid or is recalled by the paying bank, together with any interest we may have paid you on that Non Cash Item; 18.2 any amount which is owed to us on a Demand Account; and 18.3 any loss, damage, cost or expense we suffer in connection with a Demand Account (and you will be liable to indemnify us for such losses, damages, costs or expenses if there are insufficient funds in the Demand Account). Passbooks and Cards 19. Passbooks and Cards remain the property of EBS and we may request the return of a Passbook or Card at any time or we may refuse to reissue, renew or replace any Passbook or Card. 2
20. A Card should be signed immediately on receipt and be used only by the accountholder to whom it has been issued and a Card PIN should be known only by that accountholder. We recommend that the Card PIN is memorised and you do not disclose it to any other person and that you destroy the notification of a Card PIN received from EBS. If the Card PIN is retained in paper form, it is not safe to keep the Card PIN with the Card. 21. You should take all reasonable care to prevent a Passbook or Card being lost, stolen or misappropriated or a Card PIN being misappropriated. 22. If you become aware that a Passbook or Card is lost, stolen or misappropriated or is being used in an unauthorised manner or you have reasons to suspect that someone other than the accountholder knows the Card PIN, within 24 hours of becoming aware of such loss, theft, misappropriation or unauthorised use, you must telephone: 22.1 1850 654321 between the hours of 9am and 6pm on Working Days; or 22.2 01 269 5022 outside the hours referred to in condition 22.1. 23. If we are notified that a Passbook or Card has been lost, stolen or misappropriated or that a Card PIN has been misappropriated or if we believe that the security of a Passbook or Card has been compromised or that unauthorised or fraudulent activity may be occurring on a Demand Account, we may place a block on the relevant Passbook or Card so as to prevent its further use and we may provide the Gardai with any information we consider relevant in this regard. We will advise you of any block as soon as possible unless we are prevented from doing so by operation of law. 24. The agreement for the issue and the use of a Card may be terminated by the surrender of the Card to EBS or by our refusal to continue the facility for the use of the Card. Any liability incurred by us or you prior to the termination will continue. 25. If a Card has been issued, an annual fee shall be deducted from the Demand Account in respect of Government stamp duty. Unauthorised withdrawals 26. You are responsible for all withdrawals from the Demand Account save for withdrawals where it is established that you did not authorise or consent to the withdrawal in accordance with these Conditions and, if applicable, where you notified us in accordance with condition 22. In that case, subject to conditions 27 and 28, we will immediately refund the amount of the withdrawal to the Demand Account and credit any interest to the Demand Account as if the withdrawal had not taken place. 27. Subject to condition 28, if a withdrawal from a Demand Account was not authorised or consented to by you and it resulted from a lost, stolen or misappropriated Passbook or Card or the misappropriation of a Card PIN, you will only be liable for withdrawals up to 75 in total in the period before you notify us, provided that: 27.1 you notified us in accordance with condition 22; and 27.2 such notification was made no later than 13 months after the date of the withdrawal. 28. We will have no liability to you for any withdrawals or other losses suffered by you resulting from your fraudulent action or because you either intentionally or by acting with gross negligence, breached any of these Conditions or the Your Account Online Conditions, for example, you did not take reasonable care to prevent your Passbook or Card from being lost, stolen or misappropriated or you did not take all reasonable steps to keep your Card PIN safe or your registration number and personal access code (as referred to in Your Account Online Conditions) safe. Incorrectly executed withdrawals 3
29. If you believe that a withdrawal has taken place on your Demand Account that was incorrectly executed, you must notify us within 24 hours of becoming aware of the withdrawal. 30. Subject to condition 31, where it is established that a withdrawal was incorrectly executed, we will immediately refund the amount of the withdrawal to the Demand Account and credit any interest to the Demand Account as if the withdrawal had not taken place provided that: 30.1 you notified us in accordance with condition 29; and 30.2 such notification was made no later than 13 months after the date of the withdrawal. 31. We will have no liability to you for any losses suffered by you resulting from an incorrectly executed or delayed withdrawal due to incorrect, incomplete or unclear instructions or because you breached any of these Conditions. Incorrectly executed direct debits 32. If a direct debit has been made on your Demand Account where: 32.1 you have not consented to the direct debit in advance directly to us; and 32.2 you were not notified by us or by the recipient of the direct debit of the amount to be debited at least 4 weeks prior to the due date for the transaction; and 32.3 the amount debited exceeded the amount you could reasonably have expected taking into account your previous spending pattern, you may request a refund of the amount from us up to 8 weeks after the date of the transaction. 33. Within 10 Working Days of you providing all relevant information to us in relation to the transaction, we will either refund the amount referred to in condition 32 or provide reasons for refusing the refund. If you are dissatisfied with our reasons, you may request our Terms of Service leaflet which contains details of our complaints procedure and the services provided by the Financial Services Ombudsman. Joint Accounts 34. If a Demand Account is held in joint names, accountholders will be authorised to operate the Demand Account in accordance with the instructions on the mandate form but each of you will be jointly and severally liable for any money due to us in respect of the Demand Account. All instructions issued and all acts done by any person authorised to operate a Demand Account will be deemed to be instructions and acts of all accountholders. No more than 4 persons may jointly hold a Demand Account. 35. If one of you dies, the rights and/or liabilities of the Demand Account will become vested in the surviving accountholder(s) subject to receipt by us of the appropriate legal and/or tax clearance. 36. If we have reason to believe that there is a dispute between joint accountholders we may, but without being obliged to do so, place a block on the account until we receive new instructions on the operation of the Demand Account from all accountholders. Data Protection 37. By opening a Demand Account, you are confirming that you understand and agree that you are authorising: 37.1 EBS and our contractors and agents to retain and process the personal data provided by you for the purposes of opening and efficiently administering the Demand Account; and 37.2 EBS to make such enquiries as we may consider reasonably necessary (including, but not limited to, credit checking, fraud prevention and anti-money laundering checks) in connection with your application. 4
38. You have the right to access, update and rectify your personal data by contacting EBS. 39. Full particulars of EBS registration as a data controller and data processor under the Data Protection Acts 1988 and 2003 are available from the Office of the Data Protection Commissioner or on the online register at www.dataprotection.ie. Where we engage third parties to process personal data, we will only do so under appropriate contractual arrangements which protect personal data. Statements and Queries 40. Statements for Demand Accounts will be issued at least annually and will contain details of all lodgements and withdrawals on the Demand Account for the relevant period of the statement. You may also at any time request details of any transactions on your Demand Account by contacting us. 41. You should review any statement received from us and if you believe there is an error on a Demand Account, you should notify us within 24 hours of receiving the statement. 42. If we do not deal with your query to your satisfaction, you may request our Terms of Service leaflet which contains details of our complaints procedure and the services provided by the Financial Services Ombudsman. Closure of Account 43. We may close a Demand Account by giving you reasonable prior written notice. Normally the notice will be at least 60 days, but if there are exceptional circumstances, for example evidence of fraud or other illegal activity, we can close a Demand Account immediately. We will tell you as soon as possible if we do this unless we are prevented from telling you by operation of law. 44. If we believe that we have lost touch with you, for example, if letters addressed to the Registered Address are returned undelivered, and money has not been paid into or taken out of a Demand Account for at least 3 years, we can treat a Demand Account as inactive, which means that there will be no further activity on the Demand Account until we hear from you. 45. If we treat a Demand Account as inactive under condition 44, we will treat the Demand Account as active again (reactivated) if: 45.1 you ask us to; or 45.2 we think it is reasonable to reactivate it. 46. If we reactivate a Demand Account, we will make any money in the Demand Account available, together with any interest which the money would have earned if the Demand Account had not been treated as inactive. If applicable, this interest will be taxable in the tax year in which it is paid even if it has been earned in an earlier tax year. This could affect your tax position. 47. If we close a Demand Account: 47.1 we can still debit the Demand Account under condition 18 or to cover any Withdrawal Request; and 47.2 you will still have to pay back any overdrawn amount, interest, fees or charges which you owe us on the Demand Account. 48. You may close a Demand Account at any time by contacting us. If you close a Demand Account, you must pay us anything owing in accordance with condition 18. 49. We may also close a Demand Account if we become aware of the death of any of the accountholders. 5
Contacting us 50. You may contact us: 50.1 in person by visiting any EBS office. A full list of EBS offices is available on our website at www.ebs.ie 50.2 by telephoning 1850 654321; or 50.3 by writing to us at EBS Building Society, The EBS Building, 2 Burlington Road, Dublin 4. 51. If you contact us in person or by telephone, you may be asked by us to confirm your request in writing. General 52. Subject to condition 53, the first named accountholder on a Demand Account is deemed to be the representative shareholding member under the Building Societies Act 1989 (and any acts extending, amending or replacing that act). This means that only the first named on a Demand Account may vote at meetings of EBS where all conditions for eligibility to vote have been met. In addition to these Conditions, the operation of the Demand Account, where applicable, will be subject to the Rules of EBS. You may request a copy of the Rules from us. 53. Instant Access Deposit Accounts do not qualify for membership of EBS. 54. We may remove, change or add to any of these Conditions at any time. In that event, we will provide at least 60 days notice in writing or, if this is not possible, we will place an advertisement in at least 2 national daily newspapers describing the change. If you do not accept such changes, you have the option to close your Demand Account. If you do not close your Demand Account, you will be deemed to have accepted any such changes. 55. We may, without notice to you, set off any credit or debit balance in any Demand Account against any credit or debit balance on any other account you may hold with us. 56. If an incorrect amount is debited or credited to a Demand Account we may correct the entry, including debiting or crediting the Demand Account, without further reference to you. 57. We will not be liable to you for any loss which may be suffered if, by reason of any causes beyond our control (including, but not limited to, strikes, industrial action or the failure of equipment or power supplies), we cannot provide services generally, or any particular service to you. 58. In the event that any provision of these Conditions becomes unenforceable or unlawful, such provision will not affect the remaining provisions which will continue to be binding. 59. These Conditions are in the English language and shall be construed according to the laws of the Republic of Ireland. All communications with you will be in English. You will receive a copy of these Conditions on opening a Demand Account and you may request a further copy at any time. Definitions ATM Card means a card which enables an accountholder to debit a Demand Account by withdrawing cash from an ATM. ATM means an automated teller machine. Card means an ATM Card or a Laser Card. 6
Card PIN means the personal identification number issued in conjunction with a Card. Conditions means these terms and conditions from time to time applicable to the operation of Demand Accounts. Demand Accounts means the following euro-denominated EBS accounts: Children s (Big) Savings High Yield Access Instant Access Instant Access Deposit MoneyManager Platinum Teens (Me) Savings. EBS, us and we means EBS Building Society and includes our successors and assigns. Our chief office is at The EBS Building, 2 Burlington Road, Dublin 4, our website is at www.ebs.ie and we are registered under number 139. EBS is regulated as a building society and credit institution by the Financial Regulator whose address is PO Box 9138, College Green, Dublin 2. EBS Cheque means a cheque drawn on an account in the name of EBS made payable to the accountholder or such other person as may be designated in the relevant Withdrawal Request signed by the accountholder. Online Transfer means an electronic funds transfer from a Demand Account to selected utility companies, to make credit card payments or to other EBS accounts held by you. Laser Card means a card which enables an accountholder to debit a Demand Account by using an ATM or by using the card to pay for goods or services. Non Cash Items means cheques, drafts, money transfer orders, direct debits, standing orders, electronic transfers and other funds lodged to the Demand Account. Passbook means the book issued by us for the purposes of recording transactions on Demand Accounts. Registered Address means the address of the first named accountholder on the Account. Specific Terms means the additional terms and conditions specifically applicable to each Demand Account. Withdrawal Request means any withdrawal order, transfer instruction or other instruction to debit a Demand Account. Working Day means a day on which EBS is open for general banking business in the Republic of Ireland, excluding Saturdays. you or accountholder means the party who opens a Demand Account including your personal representatives and, if applicable, includes any person who is named on a Demand Account as a joint accountholder. Your Account Online Conditions means the terms and conditions from time to time applicable to viewing or effecting transactions on Demand Accounts online. 7