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General banking Terms Consumers
I. General provisions
1
Field of application
A. These general terms (hereinafter referred to as the “banking Terms”) govern all of the contractual relations between
the Bank and the Clients in the sense of Title I article 2 of the banking Terms.
B. The banking Terms are complemented by the international and Belgian general banking practices. The banking
Terms may be deviated from through special conditions and agreements (especially credit agreements), the clauses
of which take precedence over those of the banking Terms. Deviations from the banking Terms which would be
allowed by the Bank, even if they are repeated, may not be considered as an acquired right by the Client, unless this
has explicitly been agreed in writing.
C. On entering a relationship with the Bank, the Client is given a free copy of the banking Terms. The Client can always
consult the banking Terms or obtain a copy thereof in any of the Bank’s branches; the banking Terms are also
available on the Bank’s website (www.abnamro.be).
D. The mere fact of the Client making use of the Bank’s services entails its acceptance of all the clauses of the
banking Terms.
E. These banking Terms replace all previous versions of the banking Terms.
F. The Bank has subscribed to the Code of Conduct of Febelfin. A copy of this code of conduct may be requested
from the Bank.
G. ABN AMRO Bank nv is licensed in the Netherlands as a credit institution and comes under the supervision of De
Nederlandsche Bank, established at Postbox 98, 1000 AB Amsterdam, Westeinde 1, 1017 ZN Amsterdam (The
Netherlands); the Belgian branch also comes under the supervision of the Financial Services and Markets Authority
(FSMA, established at Congresstraat 12-14, 1000 Brussels (Belgium).
H. Communication with ABN AMRO occurs in English, French or Dutch. All of the standard documentation from the
ABN AMRO is available in Dutch and French; some information is also available in English.
2
Natural persons acting for non-business and non-professional purposes
A. The banking Terms apply to all natural persons acting for non-business and non-professional purposes, together
herein defined “Clients”, separately the “Client”.
B. The Client hereby confirms that he is a consumer in the sense of article 1, 1° of the Consumer Credit Act of 12 June
1991.
3
Identity, capacity, origin of money
A. On entering a relationship with the Bank, and as long as the Client makes use of the Bank’s services, the Bank is
obliged to identify the Client by means of the following data and documents:
For natural persons: a copy of the identity card or passport (or in the absence thereof a similar document), the
place of residence, the civil status, the legal capacity, and if applicable the marital status, the principal place of
residence, the VAT and company number.
For legal entities acting as a representative of the Client: a copy of the most recent coordinated articles of
association and their publication in the Belgian Official Journal, VAT and company registration numbers, a copy
of all the official documents specifying the persons empowered or otherwise to represent and engage the legal
entity with the Bank; these persons must identify themselves as natural persons or legal entities.
For legal representatives, guardians and those who act on behalf of somebody else: identification as for
natural persons and legal entities, with submission of the documentation showing their authority and the extent
of their powers.
At the first request of the Bank, the Client will supply all additional information and documents regarding, amongst
others, the origin of its money and funds, for which it will sign a declaration at the Bank’s request.
The Client shall only hold funds with the Bank that originate from legitimate activities.
The Client shall not use the services of the Bank nor the funds for money laundering or for financing terrorist
activities.
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B. If the Bank deems that the duty of identification is not or is no longer being complied with, it may
postpone entering into a relationship, suspend the execution of a transaction and/or block the account
of the Client.
C. The Client must notify the branch where it holds its account of any change in the above mentioned
data, immediately, in writing and with the necessary documentation showing these changes. Clients
of foreign nationality must moreover inform the Bank without delay of any statutory and regulatory
changes in their country of origin which might influence their legal or civil capacity and/or their powers
of representation.
D. The Client is liable for any damages resulting from incorrect data, documentation or from the failure of
or late notification of changes. The Bank is not liable for the authenticity, the validity, the translation or
interpretation of foreign-source documents submitted to the Bank.
E. The Bank is not bound to check the accuracy of the documents handed over by the Client or on behalf
of the Client, except in the event of a legal requirement to the contrary. The Bank is also not bound to
check the tax status of the Client, even if the information in this respect can be verified or is generally
known. If the Client is a foreign national or has a foreign place of residence, the Bank is not bound to
examine whether the information and documents given to it by or on behalf of the Client are affected by
foreign regulations.
In order to protect its liability with respect to the tax authorities, the Bank is authorised to collect
information on the Client and to check the accuracy of the information given to it. The Bank is also
authorised to act on the basis of the information that it considers correct, insofar it can verify this.
If legally authorised, the Bank shall inform the Client of this within a reasonable period of time. If the
Bank and the Client do not agree on the correctness of the information, then each of them may end the
banking relationship by registered letter, without charge and without notice.
4
Specimen of signatures
A. When entering into the relationship, and for every subsequent change, each Client shall provide a
specimen of his signature. If applicable, a specimen signature of his representative or agent(s) shall
be provided. The Client undertakes to inform the Bank immediately of any event (e.g. loss or theft of
identity papers) that may increase the risk of fraud relating to identity or the falsification of instructions.
B. For the execution of orders, the Bank is only bound to compare the signatures on these orders with the
specimen of the signature provided. With the exception of gross negligence or wilful misconduct on
the part of the Bank, the transactions processed on the basis of a false or falsified order will be valid as
regards the account holder or the holder of the balance, save divergent clause.
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Documents of the Bank
A. The Bank is only bound by commitments concluded in its name if they have been issued on its
letterhead documents and duly signed by persons authorized to do this in accordance with the articles
of association or with a power of attorney. An exception is made in respect of statements, receipts
and other documents which relate to or result from mechanical or automated processing operations
approved by the Bank.
B. The list of the authorized persons specifying their powers and containing a copy of their signature can
be consulted in all of the Bank’s branches.
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Powers of attorney
A. Forms in respect of powers of attorney are available to the Client; the Bank reserves the right not to
take into account powers of attorney which are not issued on Bank forms. The powers of attorney
remain lodged with the Bank.
These powers of attorney, except in the event of express restrictions, shall be deemed to allow the
representative to perform acts of management and acts of command or disposition, including the
opening of sub-accounts in other currencies, and the closing of the account or sub-accounts. The fact
that a power of attorney is drafted in general terms does not detract from this.
The Client is liable with respect to the Bank for all acts of the representative or proxy.
B. Powers of attorney may only be revoked by bailiff’s writ or by registered letter addressed to the branch
at which the relevant account is maintained.
Revocation of a power of attorney shall be taken into account by the Bank as from the first Bank
working day following the day of receipt of the notification. Statutory revocations of such powers (inter
alia decease, in the event of the appointment of a guardian, or in the event of manifest insolvency of the
conferor or the conferee) shall be without consequence for the Bank until the first Bank working day on
which the Bank is notified of the event by virtue of which the power of attorney is statutorily rescinded.
When a power of attorney is ended, the Client is bound to immediately give the Bank all documents,
Bank cards and security instruments relating to the withdrawn power of attorney. In the absence of this,
the Client shall remain liable for all consequences arising from the unlawful use of these documents
and/or instruments by the representative or a third party.
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C. The Bank is not liable for any consequences which might result from the lack of precision or
comprehensiveness of the powers of attorney lodged with the Bank and/or notifications of the
revocation of procurations.
The Bank reserves the right to refuse the exercising of the power of attorney without prior notice if it
has legitimate reasons. This shall be the case for example if the Bank suspects that the representative
is involved in money laundering or terrorist activities.
7
Correspondence
A. Correspondence from the Bank is sent to the address which was given by the Client as a
correspondence address upon commencement of the relationship, or failing that, to its legal domicile.
Any change in this address must be notified in writing to the branch where the Client holds its account.
The Bank takes account of this modification and at the latest from the second Bank working day
following receipt of the notification. The Bank will hold the undelivered returned correspondence for a
reasonable time, without incurring any liability whatsoever.
B. If the account is opened in the name of several persons, the correspondence for the attention of all the
account holders is validly sent to the correspondence address indicated by them, or failing that, to one
of them.
C. Without prejudice to the above, all correspondence is deemed to have been validly carried out if sent by
the Bank to the Client’s last-known address. Proof of correspondence and of its contents is established,
unless proven to the contrary, on production of a copy of the correspondence by the Bank. This copy
may differ from the original with regard to form.
D. The Client must send its correspondence addressed to the Bank to the branch where it holds its
account. The Bank waives any liability if the Client fails to use this correct address.
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Consignment, transport and custody of securities, commercial papers and other
valuables
A. All letters or packages sent to or by the Bank with money, securities, commercial paper, diamonds or
any other documents or valuables shall be sent at the expense of and at the risk of the Client, except
for the sending of a payment instrument to the Client or the sending of any means that enable the use
of this, in particular personalised security features. For security reasons, the Client should not deposit
any valuables in the ordinary letter-box of the Bank. The Bank assumes no liability in relation to the
aforementioned.
B. The Bank reserves the right to subscribe, for the account of the Client, to an insurance contract for
certain consignments or transports, without prejudice to the right of the Client to exercise this right
himself.
C. The Bank is not obliged to keep the credits, values or other documents it has been entrusted with
at the place of deposit. It may keep them at any other location, depending on the necessities of its
organisation or any other circumstances.
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Instructions to the Bank
A. The Bank maintains various forms at the disposal of its Clients specifically designed to facilitate the
giving of instructions by the Client to the Bank. The Client is enjoined to preserve these forms carefully
and is liable for any consequences resulting from the theft or loss thereof, as well as from their abuse.
B. If the Bank, for whatever reason, cannot or does not wish to carry out an instruction, it will inform the
Client thereof within a reasonable time and to the best of its ability. At the request of the Bank, the
Client will supply additional information regarding the instruction.
C. The Bank declines all responsibility in respect of errors or delays which might result from incomplete or
inaccurate instructions given, irrespective of the manner in which they are given. The Bank declines all
liability in the event of the misinterpretation of instructions given by telephone of by telex. It reserves
the right not to execute inaccurate or incomplete instructions. The Bank further reserves the right to
require prior written confirmation of instructions issued by telephone or by telegraphic means and to
delay their implementation until such juncture as said confirmation has been received.
10
Revocation or modification of instructions given to the Bank
Any modification or revocation of an instruction given to the Bank must be notified in writing. In any
event and insofar as such revocation or the modification is still possible, the Bank is under no obligation
to act on the modification or revocation notified until after the first Bank working day following receipt of
the said notification, save agreement to the contrary between the Bank and the Client.
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Execution of the instructions by the Bank
A. The Bank is authorized to accept money or assets for the account of its Clients. It is routinely authorised
to credit this money or assets to an account of the beneficiary in the Bank itself, even if the amounts or
values in question were handed over on the condition they were kept at the disposal of the beneficiary,
or to transfer them to an account opened by the beneficiary in another institution or to another account
in the Bank.
B. The Bank reserves the right, in the absence of explicit instructions, to determine the mode of execution
it deems most appropriate for the instructions it has been given. The Bank also reserves the right to
refuse instructions from the Client that are impracticable, too complicated or too expensive.
C. The Bank is entitled, whenever it deems it useful or necessary, to call on the intervention of Belgian or
foreign third parties with a view to executing the instructions received and charges the associated costs
to the Client. The Bank has no liability in this respect, except in the cases provided by Title VIII.
D. Any entry on an account of a transaction, the term or the time of which is not known (for example
cashing collection with immediate credit), is executed “with usual reservations”, unless agreed
otherwise, even if the expression “with usual reservations” is not explicitly mentioned.
If the transaction is not concluded, the Bank cancels the account entry ex officio and without prior
notice.
E. The Bank may apply all sums credited to an account without differentiation or priority to enable it to
implement instructions given by the Client.
F. The Bank must abide by the international sanctions and regulations enacted by the United States of
America, the European Union and the United Nations (as well as the local laws and regulations that
apply to the branch executing the instruction). Pursuant to these laws and regulations, the Bank has
adopted policy provisions that in some cases go further than the obligations under the applicable
laws and regulations. Consequently, the Bank is not required to execute an instruction (including
every payment instruction and provision of advice) from the Client or a third party if it involves a
natural person, legal entity or any government body that is on the sanction list of the United States,
the European Union or the United Nations, or which is on one of the local sanction lists, or which
has any involvement or connection with Cuba, Sudan, Iran or Myanmar, or any governmental body or
governmental agency of these countries.
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13
Execution of instructions where a specific date is stipulated (VAT, various duties,
taxation)
In the performance of instructions under this section, the Bank may, where appropriate and where
circumstances so require, select the means and manner of execution it deems most appropriate in
order to ensure compliance with the due date if these instructions were received less than 24 hours
before the due date and/or if they were not given by means of the appropriate forms.
Administrative proof
A. Irrespective of the nature or the value pertaining to a legal act, the Bank may, both in civil and in
commercial cases, adduce a copy or a reproduction of the original document as proof.
B. The transcript or the copy of the original document has the same binding force in law as the latter,
irrespective of the means employed in its reproduction (carbon copy, photocopy, microfilm, computer
print out or any other way).
C. Telephone conversations between the Client and the Bank may be recorded with a view to:
avoid subsequent discussions relating to instructions given by the Client
handle and register complaints and reportings
improve the quality of the Bank’s services.
Records of telephone conversations constitute valid evidence of the content and time of the
communication. In addition, any record is sufficient evidence that the communication with the Bank
occurred without any errors and is not affected by a disruption or any other failure. Such evidence
may be delivered by the reproduction of the record, whatever the means used for such reproduction.
The recording of both the time and content of the call shall be kept until such time as is necessary to
achieve the envisaged purpose of the recordings. The Client is granted access to this data in accordance
with article 21.d.
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Liability – Force majeure
A. The Bank shall under no circumstances be liable for the accuracy, the validity, the authenticity and, if
applicable, the translation of the documents submitted to it, in particular those of foreign origin.
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B. In any event, the Bank can only be held liable for damages directly resulting from fraud or a serious
fault committed by the Bank. Under no circumstances the Bank can be held liable for indemnification of
indirect damage, whatever its nature.
C. The Bank shall not be liable for the damage that a Client may suffer, directly or indirectly, due to the
disruption of its services as a result of force majeure (for example but not exhaustively, in the event of
a war, terrorism, revolt, strike, hold-up, fire, flood, serious technical defects, blackout or other disasters),
nor when the Bank has other legal obligations under national or European Community legislation, nor
when its information processing services are entirely or partially, temporarily or otherwise, switched off
on account of an external cause.
Neither is the Bank liable either for damage imputable to other financial institutions or any other third
parties, for damage attributable to errors or an interruption or delay in the activity of the postal and/
or telecommunications companies, the non-fulfillment by third parties of obligations vis-à-vis the Bank
for reasons independent of their will, or for damage resulting from decisions of the Belgian or foreign
powers.
D. In the event of war, riots or occupation of the country by foreign or illegal forces, the Bank is not liable
for damage to its Clients caused by actions commanded by persons with de facto authority.
E. The Bank is not liable for the defect or disruption, including that of a temporary nature, for whatever
reason, of its computer hard or software, nor for the destruction or loss of data contained therein or in
the event of fraudulent use by third parties.
F. The Bank may, without prior notice, temporarily deny access to its services (1) to rectify technical
defects or faults, (2) to maintain or improve its systems or (3) whenever it considers useful, for example
but not exhaustively in the event of an attempt to swindle or embezzle funds. Insofar as it is possible,
the Bank shall inform the Client of this. The Bank shall not be liable for the damage that may arise from
such an interruption to its services.
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Complaints, errors, important events
A. All complaints and observations regarding the transactions executed by the Bank must, to sustain
their validity, be notified in writing to the Bank, within thirty days as from the transaction or as from the
date on which the events occurred, at the following address: ABN AMRO Bank nv, Compliance Officer,
Roderveldlaan 5b4, 2600 Berchem, Belgium.
B. If the Client does not lodge a written observation within the period specified in Titel 1 article 15.a. upon
the mailing or delivery of daily statements, periodic statements or other documents sent or handed
over to him by the Bank, the Client is presumed to have approved the content of such statements.
C. At its discretion, the Bank can address a confirmation form to the Client. The Client is enjoined to
return this document within thirty days after it has been sent, duly signed; failing this, the transaction in
question is deemed to be approved.
D. The Bank is at all times entitled to correct errors of any nature whatsoever and for any reason
whatsoever, without prior notification to the Client or without receiving an instruction by the Client to
this effect. Any applicable debit interest rate will be applied routinely and without notice if the correction
results in a debit in the balance on account.
E. The Client must immediately inform the Bank of all events which might result in the abuse of its
account and/or cards (such as loss, theft or fraudulent use of cheques and/or guarantee cards, credit
cards or debit cards, or loss of the theft of access codes, access passes or the identity card) without
prejudice to the particular notification obligations provided for in these banking Terms.
F. If the Client is of the opinion that he did not obtain a satisfactory solution to his complaint and/
or remark, he may submit a complaint or remark to the Ombudsman of the Belgian bankers’
Association at the following address: Belliardstraat 15-17, bus 8, 1040 Brussels, Tel.: +32 2 545 77 70,
Fax: +32 2 545 77 79, E-mail:[email protected] (www.ombfin.be). Client complaints relating
to the payment services may also be reported to the Algemene Directie Controle en Bemiddeling
bij de Federale Overheidsdienst Economie, K.M.O., Middenstand en Energie (Directorate-General
for Supervision and Mediation of the Federal Public Department of the Economy, SME’s, the SelfEmployed and Energy), at the address WTC III, Simon Bolivarlaan 30,1000 Brussels, Belgium,
Tel.: (+32) 02 277 54 84, Fax: (+32) 02 277 54 52, E-mail: [email protected]. Forms can
be found at the following address: http://mineco.fgov.be
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Guarantees issued in favour of the Bank
A. Each Bank transaction between the Bank and the Client happens within the framework of the global
relationship between them. Therefore, all transactions of a Client with the Bank are related to each
other.
If the Client fails to make a payment, then all obligations of the Client with respect to the Bank shall
become immediately payable.
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B. As a consequence, all the accounts opened by the Bank for a Client are components of one single and
indivisible account, irrespective of their legal status, modalities, interest conditions, currency or branch
where they are held. Hence, the Bank is entitled, at all times by simple notification, to consolidate
such accounts or to consolidate the distinct debit and credit balances of these accounts in euros or
currencies into one single balance by means of transfers. Any currency exchanges will be made at the
rate of the day.
However, the unity of accounts shall not prevent each account of the Client in itself being considered as
being able to generate debit or credit interest.
C. Moreover the Bank is entitled, and this notwithstanding bankruptcy, judicial settlement, seizure or any
other event of concourse and without any formal notification or judicial decision being required, to set
off all its debt claims vis-à-vis the Client, whatever their nature, whether due or not, against all debt
claims of whatever nature, due or not, of the Client vis-à-vis the Bank, and this up to their reciprocal
amount. Accounts that must keep their individuality pursuant to statutory provisions or particular
agreements, are excluded from this set off.
D. Without prejudice to other rights and security that the Bank benefits from by law, all sums, financial
instruments, current and future accounts receivables, as well as those on third parties for whatever
reason and on whatever accounts, documents and goods, irrespective of their nature, that the Bank
possesses on behalf of the Client, count as an indivisible and privileged pledge of security for the Bank
for the performance of existing and future obligations, of any nature, of the Client with respect to the
Bank. To preserve these rights, the Bank is empowered, at the Client’s expense, to comply with all
requisite formalities to ensure that this pledge is honoured and upheld against third party claims. The
Client shall fulfill all required formalities and the Bank shall provide all information necessary to invoke
the existence of the pledge. The Bank is also entitled to obtain such information and documents from
third parties, debtors of the pledged receivables.
The Bank is also entitled, without any obligation however, to have the Client confirm each pledge
individually. Should the Client fail to comply on time with its obligations vis-à-vis the Bank, the latter is
entitled, at its choice, within the shortest delay, without prior formal notification and without judicial
authorisation being required and notwithstanding any concourse:
to appropriate the pledged financial instruments. These instruments will be valued (i) at the last
known closing rate if the instruments are listed (if listed on several markets, the closing rate on the
principal market precedes) or (ii) at the actual market value as established by an expert appointed by
the Bank.
to convert the pledged financial instruments into cash.
E. Claimable debit balances can be legally cleared by transferring credit balances of persons who have
contracted conjointly or severally with the Bank either as principals or in a subsidiary role, such as in
respect of guarantees or other securities. Accordingly, the Bank is empowered at all times to effect
such transfers as appears necessary to clear off the debit balance on an account by applying funds from
another account.
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Protection of deposits
The Bank is a member of the Dutch Deposit Guarantee System and the Investor Compensation
System. These arrangements come into play when a Bank is no longer able to repay the savings
entrusted to it or when claims on financial instruments belonging to the client are jeopardised. The
arrangement provides for the repayment of a maximum of EUR 100,000 per account holder for
entrusted savings and an (additional) maximum of EUR 20,000 per investor in financial instruments. The
text of this information is available on request at the Bank.
Waiver of protest
With respect to negotiable instruments held by the Bank in its capacity as proprietor, beneficiary,
bearer or authorized collection agent, the Bank is not enjoined to lodge a protest in the event of nonacceptance or non-payment, nor to address the notices prescribed by law in cases of non-acceptance
or non-payment to the Client and other signatories to negotiable instruments nor to respect the
statutory time limits provided in this respect. If the Bank nevertheless elects to comply with these
formalities, it does so without implying any liability on its part.
Estates
A. The death of a Client or of the spouse of a Client shall be notified to the Bank in writing and without
delay. As from the receipt of such notification, the accounts, Bank vaults and assets of the deceased
and of the spouse are blocked; domiciliation, standing orders and powers of attorney granted by or to
the deceased expire. If the Bank is not informed or is informed late of the death, it assumes no liability
for transactions executed after the death in respect of the moneys or assets of the deceased.
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B. The Bank releases the assets of the deceased and/or spouse and/or the content of its safety-deposit
box and authorizes transactions in connection with the same once it has complied with all fiscal
obligations imposed upon it and after official documents showing the disposition of the estate (in
principle a certificate or deed of inheritance from a notary (“akte of attest van erfopvolging opgemaakt
door een notaris”)) have been presented, as well as all other documents the Bank deems necessary. In
any event, the collective and written authorisation of all parties to the estate or of their joint trustee is
required for transactions in respect of the assets of the deceased.
The surviving spouse may, on his/her request, withdraw from the joint or undivided sight deposit
account or savings account, of which the deceased spouse or surviving spouse is the holder or
co-holder, or of which the survivor is the legally cohabiting co-holder, an amount from the Bank that
does not exceed half of the available credit balance without exceeding EUR 5,000, after the death and
without presenting a certificate or deed of inheritance. However, this withdrawal shall be deducted
from the settlement of the estate.
The surviving spouse who withdraws more than the above-mentioned maximum amount, which counts
as a maximum for all accounts together with all banks, shall be penalised by the law by being deemed
to have accepted the estate. He/she may no longer reject the estate, nor accept it subject to an
inventory. Moreover he/she shall lose the value of the amount that exceeds the allowed maximum and
this amount shall then go in full to the other heirs.
C. The Bank is empowered to comply with all requests for information regarding the assets of the
deceased Client, provided professional secrecy obligations do not prevent this.
The Client accepts that the Bank may provide information to the notary executing the estate and to
the tax department on the credit balances and operations of the Client with the Bank and the services
used.
D. The heirs and duly authorised persons are jointly and severally liable for any debit balances as well as for
the charges pursuant to the opening of the estate and to the costs incurred by the Bank.
E. In the event of the death of a Client, unless instructions to the contrary are given by eligible persons,
the Bank addresses the correspondence relating to the estate to the last address communicated by the
deceased. The Bank also reserves the right, without incurring any liability, to send the correspondence
to one of the duly authorised persons, the notary entrusted with the winding up of the estate, or any
other person empowered to represent the interests of duly authorised persons. In such an event, the
correspondence will be validly sent to all heirs and duly authorised persons.
F. The Client should be aware of the fact that his/her inheritance might be subject to the US Estate tax,
according to American law on inheritance taxes. This US Estate Tax is levied on the inheritance of a
non-American citizen/resident when e.g. one of the following assets is part of his/her inheritance :
real estate located in America, shares issued by an American company, certain bonds issued by an
American government or company or investment funds established under American law. It is a part of
the obligations of the beneficiaries of the Client to comply with American law on inheritance taxes.
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Professional secrecy – Financial and trade references
A. The Bank does not divulge to third parties any information relating to a Client’s transactions with the
Bank, except with the explicit approval of the Client or in case of a legal obligation or legitimate interest.
B. The Bank may supply the Client if requested with financial and commercial information. Such
information is supplied without any liability for the Bank and in exchange for a fee. This is strictly
confidential and may under no circumstances be disclosed by the Client to third parties.
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Registration and processing of personal data
A. The Belgian branch office of the ABN AMRO Bank nv, established at Roderveldlaan 5 b4, 2600 Berchem
is responsible for the processing of personal data.
B. The Client authorises the Bank to process all personal data, all data concerning its professional and
private financial operations, its banking services and transactions for legitimate aims. The Client must
inform its representatives, contact persons and guarantors of the fact that the Bank may also register
and process their personal data, and the Client vouches that these persons consent to this.
The Bank processes this data in view of i) the administration of the Bank’s clientele, ii) the
administration of the contractual relationship, iii) the drawing up of statistics and tests, iv) informing
the Client about products and services offered by the Bank and v) promotional activities. The Client
accepts that this data may be disclosed to the other companies of the group to which the Bank
belongs, as well as to all other third parties who are contractually tied to the Bank, situated in countries
within and outside the European Economic Area, to satisfy certain administrative activities that relate
to 1) the management of the clientele of the Bank, 2) the management of the contractual relationship
(this means among others the management of accounts, payment traffic, operations with financial
instruments, etc.), 3) market analyses, statistics and tests, 4) informing the Client about products and
services that the Bank provides, 5) promotional purposes regarding the products of the Bank or of other
companies within the group to which the Bank belongs.
These third parties are selected by the Bank in accordance with strict criteria and are contractually
bound to discretion and confidentiality.
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C. The Client has a right to access and correct its data. The Client also has the right to resist the use of his
data for promotional purposes, free of charge.
D. If the Client wants to use its right of examination and/or correction, or wants to exercise its right of
protest, it may send a letter to this effect to the Bank, addressed to ABN AMRO Bank nv, Compliance
Officer, Roderveldlaan 5b4, 2600 Berchem, Belgium with a copy of the front and back of the identity
card.
E. As of January 1st 2014 the Bank is obliged to communicate to the Central Information Point (hereinafter
CIP) certain data concerning its clients. The CIP is maintained at the National Bank of Belgium, located
at 1000 Brussels, Berlaimontlaan 14, www.nbb.be. The data communicated to the CIP are identification
data of the clients and the IBAN-numbers of their Bank accounts on January 1st 2010 or later. As of
January 1st 2015 the Bank will also be obliged to communicate to the CIP certain data concerning the
following types of contracts of its clients : mortgage loans, consumer loans, leasing contracts, openings
of a credit line and investment services agreements. All these communicated data will be maintained
by the CIP until 8 years after the closing date of the accounts or contracts and will be kept available for
the tax authorities in the framework of a potential investigation of tax fraud (cfr. article 322 § 3, WIB 92
and its implementing decree(s)). Every Client has the right to inspect his/her data, maintained by the
CIP, at the National Bank of Belgium. The Client also has the right to have possible errors corrected or
removed by the Bank.
22
Tariffs, interest rates, taxes and costs
A. The tariffs (costs, commissions, provisions) of the services and products served by the Bank as well as
the interest rates used by the Bank are brought to the attention of the Client by means of a prospectus,
a notice included with statements of account, an ordinary letter or in another way.
B. The Bank reserves the right to modify the tariffs and interest rates. These modifications are
communicated to the Client as soon as possible (for modifications of the interest rates) or within a
reasonable period prior to their application (for other modifications), by letter, by a notice included with
statements of account, and/or through electronic communication. If a Client does not agree to the
modifications with respect to certain products, he may cancel these products within a period of thirty
days upon notification. The clauses of these banking Terms regarding termination are applicable. The
tariffs and interest rates are available to the Client free of charge from every branch of the Bank.
C. Besides these tariffs, the Client bears any costs resulting from measures relating to the Client’s assets,
including those deposited in a safety-box, taken by the authorities as well as costs related to seizures,
registrations of opposition or reclamations by third parties in relation to these assets, and all ¬legal and
extra-legal costs incurred by the Bank (including lawyers’ fees) for recovering its debt claims from the
Client, inclusive of the realisation of guarantees/security and the exercising of recourse. The Client shall
also bear all stamp and registration duties, taxes, charges, all taxations legally claimable by the Bank or
for a transaction with the Bank.
D. Taxes on income paid by the Bank in a debtor or intermediary capacity, are payable by the beneficiary of
the said income.
E. The Bank may routinely debit any account of the Client for each amount due owed by the Client, even
if such debiting will result in an overdraft of the available credit balance on this account or of a granted
credit line.
23
Termination of the relationship
A. Without prejudice to particular legislation or agreements, and save dispositions to the contrary in
the banking Terms for specific services, both the Bank and the Client may, at any time, terminate
the relationship in whole or in part, without justification, provided that a 30 day notice period is given
by registered mail. Furthermore, the Bank may, without giving reasons, decide only to offer certain
products and services to the Client or decide to make a certain product or service dependent on special
conditions.
B. Notwithstanding the above, the Bank may, in the event the Client does not respect its obligations in
good faith or does so in such a way that the Bank’s confidence in the Client is threatened, decide to end
the relationship immediately by registered letter. These reasons include, without being limited to just
these: breach of contract, fraud or gross negligence on the part of the Client, suspicion of insolvency,
bankruptcy, seizure, shaken credit, suspicion of fraud, and summons for payment.
C. Upon termination of the relationship and without prejudice to the specific provisions with respect to
credit, all obligations of the former Client become immediately and automatically due, without any
formal notification being required. Any interest habitually applicable in circumstances of indebtedness
shall fall due with respect to any negative balance outstanding and all other existent debt. At that
moment, the Bank shall also charge to the Client the usual provisions and closing costs, insofar as they
are legally allowed. All means of payment such as transfer forms and Bank cards must immediately be
returned to the Bank upon termination of the relationship. The assets held by the Bank on behalf of a
former Client shall cease to bear interest with respect from the termination of the relationship.
General Banking Terms Consumers 9/29
D. In the event that, after restitution of all sums due, the former Client’s account is in surplus¬¬, the Bank
will make any aid surplus available to the former Client in the manner determined by the Bank and at
the Client’s risk.
E. On termination of relations, the Client is enjoined to comply with the Bank’s suit to post guarantees
within three days in respect of forward deals which are in abeyance or where undertakings have been
entered into by the Bank on the Client’s behalf. Where the Client fails to furnish such guarantees, the
Bank is entitled, without further notification and at the Client’s expense, to wind up operations on a day
it judges appropriate. In such a case, the Bank declines all responsibility.
24
Amendments to the banking Terms
A. The Bank reserves the right to change these banking Terms or any special agreement of an indefinite
duration at any time.
B. Amendments are brought to the attention of the Client by means of the daily statements or other
correspondence from the Bank, and if applicable through communications displayed within the
Bank premises or by electronic communication. Subject to statutory or regulatory requirements,
amendments are legally binding on all Clients as from the first day of the second month after that of the
notification. Without prejudice to legal or regulatory requirements, or specific provisions to the contrary
in the banking Terms or the special agreement concerned, they shall automatically apply to the Client as
of the first day of the second month after the month of notification.
25
Applicable law and jurisdiction
A. Except if agreed otherwise, the relationship between the Bank and the Client is governed by Belgian
law.
B. Claims are introduced before the courts of Antwerp or Brussels it being understood that the Bank is
entitled to introduce a claim before any other court that has competence.
C. If a provision is contrary to a legal or regulatory provision, this provision must be considered as
inapplicable. Such an incompatibility shall not harm the validity of the other provisions of this
agreement.
II. Provisions regarding accounts
26
General
Every Client may open accounts with the Bank. Without prejudice to specific regulations relating to
certain types of account, differentiations in the present banking Terms or agreements to the contrary,
all accounts are subject to the following provisions. The special terms for payment services are given in
title VIII of these general terms, supplemented by the payment services information sheet.
27
28
The Bank may open joint accounts in the name of several persons. Except insofar as mentioned below,
these accounts are subject to the same terms as those applicable to the same type of account. In the
absence of explicit agreements and subject to the existence of powers of attorney, signatories to joint
accounts shall be entitled to transact via such accounts only when acting collectively; all co-holders
of a joint account are jointly and severally liable for all transactions on this account as well as for the
reimbursement of any negative balance. The closure of the account shall not end the joint and several
liability of the co-holders. In the case of disagreement among the co-holders regarding their capacity to
contract in respect of the account, the Bank reserves the right to suspend any use thereof until it has
been notified in writing that the disagreement has been settled.
A. Each account must be in credit at all times. The Bank reserves the right, to the exclusion of any liability,
to refuse to execute every entirely or partially uncovered instruction, even in the event of Title II articles
31 or 32. A payment instruction can only be executed when there are sufficient freely available funds
in the Client account concerned to settle the principal and any additional costs and taxes, charges and
levies.
B. Any departures allowed on the part of the Bank, regarding the required credit balance in the account
or an exceeded credit limit, may never be invoked as giving the right to the further maintenance or
repetition of these departures. The Bank is consequently entitled, at any time, to claim the repayment of
the debit balance in the account or the exceeded credit limit.
General Banking Terms Consumers 10/29
29
30
31
The Client must give the Bank at least 2 Bank working days’ notice of any withdrawal of funds.
The Client may request a receipt for each deposit. Deposits, transfers or issues in favour of the Client
by a correspondent of the Bank are definitely entered on the Client’s account at the moment the Bank
is physically in possession of the funds transferred by the correspondent, irrespective of any notification
received from the correspondent that the transfer has been effected. Unless otherwise requested,
deposits, transfers and issues in a foreign currency made in favour of a Client are booked in the account
held in that currency. In the absence of such an account and failing instruction from the Client, the
amount is converted into euros and booked in the accounts in euros, after deducting exchange charges.
Domiciliation – Standing orders
A. The Client may instruct the Bank to automatically pay, via his account, the invoices and debit notes
presented to his charge that are sent directly to the Bank by the entitled party, in accordance with the
provision of Title VIII article 10.
In the absence of a general domiciliation instruction, the Bank is entitled to assume that the drawee, by
accepting the bill in question, has accepted the fact of domiciliation.
B. The domiciliation may always be cancelled by the Client, the Bank or the beneficiary. Cancellation by the
Client becomes effective 5 Bank working days after receipt of the cancellation.
32
33
The Client may give the Bank a standing order to transfer a fixed amount to another account on set
payment dates in accordance with the provision of Title VIII article 9.
Interest conditions
A. On all debit positions, whatever their nature, both in capital and in value date, the Bank may legally
charge a debit interest pro rata temporis and debit the account of the amount of this interest, without
formal notice being required. This interest rate is modified and brought to the Clients’ attention in the
same way as the one defined in Article 22.
B. Any partial reimbursement of a negative balance will always and in all circumstances, even during or
subsequent to legal proceedings, be applied in the first instance to defray the charges and then the
interests before being applied to reduce principal or capital sums owed.
C. As a general rule the Bank closes the Client’s account(s) on an annual basis to compute interest. This
said, the Bank reserves the right to close accounts at any time. Credit interest of less than EUR 5 on
the date of closure within the meaning of this section is not attributed.
34
35
Closure of accounts
The Bank is entitled to close inactive accounts (i.e. accounts with a zero balance or a limited positive
balance which, due to debiting charges will result in a negative balance within the foreseeable future
and on which no transactions have been executed in the last 6 months) provided that the Bank has not
received any reaction from the Client within a period of 3 months following a written request to the
Client to reactivate the account. Such a written request shall also mean a notice of at least 2 months
for the account concerned. Between five and six years after the last intervention of the Client, the Bank
shall transfer the balance to the Deposito- en Consignatie Kas (Deposit and Consignment Fund), who
shall keep the funds available to the entitled party for 30 years. After 30 years the funds shall go to the
Belgian State.
Sight deposit accounts
A. If the account bears credit interest, the amounts in euros or another currency of the EEA, paid or
transferred to sight deposit accounts, shall in principle bear interest as of the Bank working day on
which the Bank receives the funds. Sight deposit accounts in a foreign currency, other than the
currencies of the EEA, shall not bear interest.
B. Except in the event of an express provision to the contrary all accounts, except for savings accounts,
shall bear debit interest.
C. The debit and credit interest, the conditions and the value date are stated in the Payment Services
Information Sheet.
General Banking Terms Consumers 11/29
D. The Client may close any sight deposit account at any time by registered letter, subject to a notice
period of one month.
The Bank may, by registered letter, close any sight deposit account 1) in euros or another currency
of the EEA subject to a notice period of two months and 2) in all other currencies subject to a notice
period of one month.
36
37
Fixed-term accounts and savings accounts
Fixed term accounts can be opened at any time and are for such duration as is determined by contract
on opening of the account.
A. Amounts credited to the account bear interest with effect from the second Bank working day after the
deposit or transfer of the relevant sums to this account.
B. Interest deriving from fixed term accounts is notified to the Client and credited to a sight deposit
account on maturity or where the contractual term of the account is longer than one year, annually.
38
39
39
bis
Fixed term deposits are accepted above and beyond minimum amounts determined by the Bank, the
said minimum being subject to modification. Where the balance on account falls below the minimum
requirement as established by the Bank, the latter reserves the right to convert the account into a sight
deposit account.
In the absence of explicit written instructions to the contrary in possession of the Bank no later than
two Bank working days before the mature date, fixed term deposits will be automatically extended for a
further period equal in length to that of the original period and are subject to the conditions which obtain
on the date of continuance.
A savings account is an account in euros from which withdrawals may be made directly or through
the sight deposit account for the repayment in cash or for the transfer (except for standing orders) to
another account in the name of the Client or to the savings of the spouse or family member up to the
second degree of relationship at the Bank for the payment of loans or credit that the Bank has granted
to the Client or for the payment of insurance premiums and the costs of the savings account, the
purchase or subscription to securities and the custody charges for them.
The Client may close any savings account at any time by registered letter subject to a notice period of
one month.
The Bank may close any savings account by registered letter subject to a notice period of two months.
40
41
42
43
44
Prenotification accounts
The Bank maintains fixed term accounts with a contractually pre-established notice period. Other than
the particular stipulations enumerated in the following, prenotification accounts are governed by the
same provisions applying to term deposits generally.
Payments into prenotification accounts may be carried out at any time. Withdrawals must be notified to
the Bank in writing with a prenotification period equal to the lifetime of the prenotification period.
Prenotification is operative from the time the Bank receives the notification of withdrawal. The amounts
to which prenotification of withdrawal applyies are transferred on the due date to a sight deposit
account.
Accounts in foreign currency
The Bank operates foreign currency accounts in accordance with terms and conditions established on a
case-by-case basis.
All transactions and assets in a foreign currency account are statutorily subject to Belgian Exchange
Control provisions and to all other legal and regulatory provisions, including those of a fiscal, legal or
regulatory nature required in Belgium and in the foreign jurisdiction.
General Banking Terms Consumers 12/29
45
A. Foreign currency deposits made by the Client at the Bank constitute part of the Bank’s assets at the
level of its correspondent banks in the jurisdiction of the foreign currency in question. Consequently,
all provisions of a fiscal or other nature attaching to that currency in its jurisdiction of origin, as well as
all measures taken by the authorities in that country automatically apply right to the abovementioned
assets. The Bank declines any and all liability for the ensuing consequences (including limitations on the
availability of the assets).
B. Due to delays that may occur in the transmission of reports sent by the Bank’s correspondents, the
Bank reserves the right to apply retroactive adjustment to the Client in the light of events referred to in
point A., including adjustment for interest rates.
46
Subject to limitations imposed by the Belgian or foreign monetary authorities, the Bank is free to
reimburse assets in a foreign currency either by cheque, payable in the foreign jurisdiction in question,
or by transfer to any other account designated by the Client and maintained in the same currency.
Reimbursement in foreign cash is not possible.
III. Credits
47
The Bank provides credit facilities to its clientele in a variety of forms, e.g., overdraft, promissory
credits, discount of commercial paper (client & supplier), acceptance credit, investment credit,
guarantees, documentary credit, loans and so on. Specific terms and conditions attach to each form
of credit agreed by the Bank, in addition and without prejudice to the particular provisions as set out
elsewhere in the present banking Terms.
IV. Collection
48
General provisions
A. Foreign collection services (cheques, bills of exchange, promissory notes, receipts) provided by the
Bank are in accordance with the provisions set out in the Uniform Customs and Practice with respect
to collection as published by the Paris-based International Chamber of Commerce, to the extent that
the said provisions do not conflict with the banking Terms or other terms in force at the Bank. The Client
attests to his familiarity with the aforementioned Uniform Rules, a copy of which may be consulted on
request at each branch of the Bank.
B. Collection charge fees and the effective date from which sums recovered bear interest are determined
on the basis of a tariff scale which may be consulted on request. Where a paper is redeemed prior to
being presented, the commission due on encashment remains the property of the Bank.
49
50
At the Client’s risk and without assuming any liability, the Bank reserves the right to regularise papers
presented for collection.
The Bank declines all liability with respect to verifying the authenticity or validity of signatures and
references appearing on documents presented for collection.
Neither the Bank nor its correspondents are bound to observe the legal formalities and due dates to
preserve the rights which are attached to paper presented for collection: accordingly, the Bank declines
any responsibility for any non-compliance with legally prescribed dates for presentation for acceptance
and/or payment, for notification of protest, for notification of non-acceptance or non-payment, or for
completion of equivalent formalities abroad. This waiver relates particularly but not exclusively to the
following: cheques; cheques and drafts payable in locations where there is neither a post office nor a
process-server; drafts payable in locations where they are lodged with a banking establishment and
where the time allowed for presentation is less than six business days or which have less than six
business days to run at the time of presentation; drafts payable in other locations in the country where
the time allowed for presentation is less than 8 business days or which have less than 8 business
days to run at the time of presentation; foreign drafts presented late; drafts for which the due date has
been carried forward; and drafts containing information which is erroneous, imprecise, incomplete or
modified.
General Banking Terms Consumers 13/29
51
52
The Bank shall forward drafts and documents to its correspondent with a view to their being collected
on behalf of the Client and at the Client’s risk. The Bank declines any responsibility for the erroneous
interpretation of the instructions on the part of the correspondent and, where appropriate, for any
cessation of payment that may ensue as a result thereof.
Discounting
A. In principle, the Bank is required to pay the net proceeds of collection only on completion. This said,
the Bank may provisionally credit the Client’s account upon receipt of notice of collection from its
correspondent. Should the transaction fail to complete, however, the Bank is empowered, without
further notice, to debit the Client’s account with the unpaid amount due. This procedure in no way
impedes the Bank’s legal entitlement to retain unpaid drafts as surety and to use to its advantages all
rights attaching to this.
B. The Bank reserves the right to accept in payment of the drafts remitted to it for collection, cheques or
other means of payment signed by the drawee of said drafts. In such instances, the Bank may remit
said instruments to the drawee without assuming any responsibility should some or all the cheques
received or other means of payment be dishonoured.
C. Negotiable instruments denominated in foreign currency for credit in euros shall be converted at the
optimal prevalent rates of exchange.
53
54
55
55
Documentary Collection
The Bank assumes responsibility for the collection of all documents (including bills of lading, insurance
policies, invoices) whether or not accompanied by negotiable instruments to be submitted for payment,
acceptance, trust receipt or other commitments.
bis
56
57
58
Collection of negotiable instruments payable abroad takes place at the Client’s risk. The Bank declines
all responsibility in this respect for restrictions or regulations which might be introduced by the Belgian
Government or its foreign counterparts. In certain jurisdictions, legal requirements accord drawees and
beneficiaries of cheques and drafts the right over a period of several years to demand reimbursement
in situations where, subsequent to payment, the authenticity of one or other of the signatures is
contested or where part of the cheque or draft has been forged. The drawer is required in writing by the
Bank to reimburse all cheques and drafts without further delay which are returned to the Bank for such
reasons; at the same time, the Bank reserves the right in such instances to debit the assignor’s account
automatically and without notice.
The Bank is not liable for the form, regularity or reality of the documents or the authenticity of the
signatures stated on the documents accepted by it for payment, the quantity, weight, capacity, state,
packaging or value of the goods represented by the documents, the conditions of the insurance policy
or the solvency of the insurers. The Bank is also not liable for the actions of third parties who intervene
in the payment operations such as the postal services or other transport companies, unless the choice
of this third party constitutes serious misconduct or fraud on the part of the Bank.
The Client guarantees to the Bank the authenticity and regularity of the signatures stated on the
financial documents and releases the Bank from any liability in the event of redress by third parties on
the grounds of generally accepted practices or on the grounds of legal provisions, and this for a period
of indefinite duration. The Bank is entitled to debit the account of the Client for the amount of the
financial documents returned.
In the absence of specific provision to the contrary, the Bank shall not be identified as the consignee.
The Bank assumes no responsibility in the event of absent or imprecise instructions as regards delivery
of documents, insurance, shipping, warehousing, and so on.
To the extent that no provision to the contrary is made by virtue of the present banking Terms,
documentary collection is subject overall to the Uniform Rules pertaining to collection as set out by
the Paris-based International Chamber of Commerce, the text of which can be consulted on request or
consulted at each branch of the Bank.
General Banking Terms Consumers 14/29
V. P
rovisions with
respect to securities
59
Operations relating to stock exchange orders
With regard to the Securities Services, the “ABN AMRO Securities Services Terms” apply: they are
supplemented by the banking Terms insofar these do not depart from the Securities Services Terms.
VI. P
rovisions with respect
to diamond trading
60
The Bank stands firmly behind all United Nations Resolutions, other international regulations and
recommendations as well as measures of governments and the industry to prevent and stop illegal
trading, illegal financing and any other form of illegal assistance (both direct and indirect) in diamonds.
Banking services will be limited to diamond transactions approved and monitored by the competent
authorities according to the applicable (as amended from time to time) international, supranational,
national and professional regulations, restrictions and recommendations.
The Client declares that he will adhere to the above policy of the Bank and consequently states that it
will not enter into transactions involving diamonds that it knows or should know are of illicit origin. All
banking services, including debit and credit movements passing through the account(s) with the Bank,
shall be related to transactions complying with the specific regulations governing diamonds trading.
The Bank reserves its rights to take all necessary measures including, without limitation and at
the Bank’s discretion, the termination, with immediate effect, of its relation in case a transaction is
presumed to be of illegal origin. In no event the Bank can be held liable for costs, damages or losses
in relation with refusing, reviewing, revoking or cancelling any transaction non-complying with specific
regulation governing diamonds trading.
VII. Investment services conditions
1
Definitions:
ABN AMRO: ABN AMRO Bank nv, with its registered office in Amsterdam, Gustav Mahlerlaan 10,
1082 PP Amsterdam, acting through its Belgian branch with head office at Roderveldlaan 5 b4, 2600
Berchem, registered in Antwerp with the Register for Legal Entities under no. BE 0819.210.332; and
its potential successors in title or assignees;
Advice: the provision of personal recommendations to the Client, either upon the Client’s request or
at the initiative of ABN AMRO, in respect to one or more transactions related to Securities;
Investment Channel: the total of (i) the balance in the Cash Account, plus (ii) the possible agreed
credit limit in the Cash Account minus (iii) the cover for margin requirements and reservations in the
Cash Account (for instance for current securities orders or payment orders already entered);
Spending Limit: the channel through which the Client communicates with ABN AMRO, especially for
placing orders, whereby a distinction is made between placing orders via an advisor (advisory channel)
or independently without an advisor (execution only);
Stock Exchange: any trade platform on which trading can be effected via ABN AMRO;
FSMA: the Financial Services and Markets Authority with offices at Congresstraat 12-14, 1000
Brussels;
Securities: all financial instruments in which the Client can invest via ABN AMRO;
Securities Services: all services offered and provided by ABN AMRO for the execution, by itself
or third parties, of securities transactions on the instruction and for the account of the Client (a.o.,
without being limited to, subscription to Securities, collection of coupons and reimbursable Securities,
conversion of convertible bonds, regularisation of Securities, etc.);
Securities Portfolio: the total of the Securities held in custody for the Client via ABN AMRO;
Securities Account: the account on which the Securities, that the Client acquires as a result
of performing securities transactions or as a result of events in respect of these Securities, are
administered
Money Account: the cash account maintained by the Client at ABN AMRO to which the Securities
transactions are debited or credited;
General Banking Terms Consumers 15/29
Information Sheet: a document containing important information for Clients, namely the description
of risks associated with various types of Securities;
Agreement: the agreement concluded with the Client to which the Conditions are applicable;
Conditions: these ABN AMRO Investment Services Conditions, as well as the Information Sheet and
the ABN AMRO Policy with regard to order execution;
Working Day: each day that the offices of ABN AMRO are open to the public.
2
Scope
2.1 The Investment Services Conditions apply to all relationships arising from the Investment Services
between the Client and the branches of ABN AMRO in Belgium, unless certain parts of the conditions
are set aside by other applicable conditions.
2.2 In addition to the Investment Services Conditions, the relations between the Client and the branches
of ABN AMRO in Belgium are also subject to the General banking Terms of ABN AMRO in so far the
Investment Services Conditions do not deviate from the General banking Terms.
3
Other applicable conditions
3.1 Investments in options are subject to the conclusion of a specific agreement in respect of such
investments, covering a.o. margin obligations.
3.2 In cases other than those referred to in the previous subsection of this article, ABN AMRO could also
determine that in addition to, and in deviation from, these Investment Services Conditions, other
conditions or provisions apply to the legal relationship between ABN AMRO and the Client, depending
on the type of Investment Service, the chosen Investment Channel or the type of Security.
3.3 Buying and selling orders for Securities are subject not only to the conditions set by ABN AMRO but
also to the applicable Stock Exchange regulations, conditions and rules.
4
Client categorisation
4.1 A Client is classified by ABN AMRO as a non-professional, professional or as an eligible counterparty.
The classification of the Client is decisive for the level of client protection the Client is entitled to.
4.2 At the start of the Investment Services, ABN AMRO will attribute a classification to the Client and
will inform the Client of this. A Client may request a different categorisation than originally attributed.
ABN AMRO is not obliged to honour such a request. ABN AMRO can subject the granting of the
request to conditions. Such a change of categorisation may entail that the Client loses the benefit of
certain protection measures that otherwise would have applied to him.
4.3 The Client undertakes to immediately report in writing all information that leads to a change in his
categorisation to ABN AMRO.
5
Investment Profile
5.1 Depending on the type of Investment Services and the chosen Investment Channel, ABN AMRO
obtains information from the Client regarding his financial position, knowledge, experience,
investment objective and preferences regarding risk taking for the benefit of establishing and
recording the investment profile of the Client. The Client undertakes to provide this information
completely and with sufficient detail to ABN AMRO upon entering into the Agreement.
5.2 In the case of any changes to the information referred to in the first subsection, the Client undertakes
to report this to ABN AMRO as soon as possible in writing or electronically.
The Client is deemed to be aware of the fact that the incorrect or incomplete provision of this
information to ABN AMRO could lead to ABN AMRO not being able to provide optimal Investment
Services to the Client. Moreover, in the event of incorrect or incomplete information occurring, the
Bank shall be entitled to deny the Client access to all or certain services of its Securities Services.
5.3 ABN AMRO may of course rely on the information provided verbally or in writing by the Client relating
to the investor profile. It shall not be bound to check the accuracy of the information provided or to
assess this against current developments during the Securities Services.
6
Execution Only
6.1 If or in so far as the Client makes use of direct channels for placing orders for Securities, the service
provided in all cases consists of an Execution Only service. Orders that are given via these direct
channels are deemed to have been executed on the initiative of the Client and not further to the
Advice of ABN AMRO.
General Banking Terms Consumers 16/29
6.2 In order to allow ABN AMRO to assess whether the service and a certain securities order that is given
via a direct channel is appropriate for the Client, the Client is obliged, prior to entering the Execution
Only service, to provide ABN AMRO with information regarding his knowledge and experience
with regard to this service and the specific Securities which are invested in via the Execution Only
service. It is expressly indicated to the Client that if ABN AMRO does not (completely) receive this
information from the Client, ABN AMRO is not capable of assessing whether this service or the
specific Securities are appropriate for the Client. ABN AMRO will not review the appropriateness
based on the knowledge and experience of the orders given via the direct channels if these relate
to (a) shares admitted to trading on a regulated market or in an equivalent market in a state that is
not a member of the European Economic Area, (b) money market instruments (these are short-term
debt instruments such as deposits), (c) bonds or other forms of securities debt, insofar as this does
not concern convertible bonds or convertible debt instruments, and (d) rights of participation in an
institution for collective investments in securities (so-called ICB’s) , and other open-ended investment
institutions or other Securities as are published on the website of ABN AMRO. ICB’s), and other openend investment institutions or other Securities. The Client is aware of the fact that ABN AMRO will not
in any way issue any warning for the risks of these investments for its specific Securities Portfolio.
6.3 Contrary to the contents of the second subsection of this article, ABN AMRO, in executing the order
via the Execution Only service, and with the exception of reviewing whether there is an sufficient
Investment Margin, is not obliged to review the order in any other way, including the financial position
or the investment objective of the Client.
7
8
9
Advisory relationship
Only if a further written agreement has been concluded with the Client, will ABN AMRO provide
Advice to the Client.
Portfolio Management
Only if a further written agreement has been concluded with the Client, will ABN AMRO provide
portfolio management to the Securities Account of the Client.
Investment Information
9.1 Advice, general opinions and other investment information shall never form a guarantee for a specific
investment result. Moreover, these factors are determined by the circumstances of the moment at
which they are given, and therefore only have a temporary validity.
9.2 If, in drawing up the Advice, general opinions and other investment information, ABN AMRO
makes use of information from third parties, then ABN AMRO is not liable for the incorrectness or
incompleteness of such information.
9.3 The Client always decides for himself whether he makes use of the Advice, general opinions and
other investment information provided by ABN AMRO.
10
Risks and general liability
10.1 The Information Sheet provides, among other things, explanations of the characteristics of the
various types of Securities and Investment Services and the risks involved in this. For descriptions
of characteristics and risks of the specific Securities, reference is also made to the specific product
descriptions and the information that is compulsory by law, including the specific (simplified)
prospectus and the financial information leaflet.
The Client undertakes to examine the above-mentioned information prior to the purchasing of
Securities. The Bank is not liable for the content of prospectuses and the financial information leaflets
drawn up by third parties.
10.2 The execution of orders for Securities placed by the Client and subsequent settlement by ABN AMRO
is always effected for the account and risk of the Client, even if ABN AMRO contracts in its own
name.
10.3 If the Agreement is concluded on behalf of the Client by various legal entities or persons, then each
of these entities or persons is jointly and severally liable in respect of ABN AMRO for the fulfilment of
the obligations arising from the Investment Services.
10.4 ABN AMRO will be liable in respect of the Client for the non-execution or incorrect execution of an
order that is correctly received by ABN AMRO, if the incorrect execution of the order can be attributed
to a shortcoming of ABN AMRO.
10.5 ABN AMRO is not liable for damage on the part of a Client further to measures imposed by external
parties, such as, among other things, a change in the laws or regulations, a direction of a regulatory
authority or a regulation of a Stock Exchange.
General Banking Terms Consumers 17/29
11
Termination of service with respect to certain Securities and specific types of Investment
Services
11.1 ABN AMRO can decide at any time to terminate its service as an intermediary in relation to Securities
trading on a certain Stock Exchange, or the trade in certain (types of) Securities. ABN AMRO may
furthermore decide at any time to terminate certain types of Investment Services.
11.2 ABN AMRO informs the Client of such a decision in advance without being obliged to give the reason
for it. If it has decided to terminate the trade in Securities on a certain Stock Exchange or the trade in
certain (types of) Securities, ABN AMRO will give the Client a certain period of time within which the
specific Securities can be transferred to another institution or can be sold. This period of time starts
on the first Working Day following the date of the letter through which the notification is effected, and
shall be no less than ten Working Days.
After the indicated time period, ABN AMRO is entitled to sell the (remaining) Securities in respect
of which ABN AMRO terminates its service provision for the account of the Client and to credit the
proceeds thereof to the Cash Account of the Client without being obliged to provide any further
notification or consultation.
12
Placement of orders
12.1 If the Agreement is entered into by various legal entities or persons, then each of them is entitled to
place orders with ABN AMRO in the context of the Investment Services.
12.2 Before the Client places an order, he is obliged to obtain information regarding the Security in which
he wishes to trade, in particular regarding the relevant company, the Stock Exchange where the trade
takes place and trading in the Security itself.
12.3 ABN AMRO can impose conditions on specific orders, such as the Client giving a price limit and/or a
time limit.
12.4 Without prejudice to Title I article 9.C. and 13.C. of the General banking Terms, ABN AMRO may
accept orders placed by telephone on the understanding that they will be conditional upon same-day
written conformation; the Client bears the risks relating to orders placed by telephone. ABN AMRO
is authorised to record telephone conversations with the Client, especially those concerning the
placement of orders, on sound recording media. However, ABN AMRO is not in principle obliged to do
so. Neither is it obliged to inform the Client separately of when it records a telephone conversation on
a sound recording medium.
12.5 If the Client wishes an order to be presented to a Stock Exchange for execution on a specific date,
then he must explicitly agree upon this with ABN AMRO.
12.6 The Client will ensure that from the moment he places a purchase order, there is sufficient Spending
Limit for the integral execution of his order.
12.7 Where an order that has not yet been executed is modified or confirmed, without it being explicitly
and unambiguously stated that it is a modification or a confirmation, then such an instruction will be
considered as a new order which has to be added to the first one.
12.8 A Client who places an order simultaneously authorises ABN AMRO to divulge its identity and other
information related to it both to the competent market authority and to other supervising authorities.
12.9 The Bank holds the Securities and acts for the execution of orders as a nominee, except explicit
request from the Client to be registered directly in the register of participants of the collective
investment fund. The Client is entitled to ask the Bank at all times not to act as a nominee, but to
have the Securities registered in his name. The Client is also at all times entitled to request the Bank
to act as a nominee. The Bank is entitled to charge costs for the conversion from nominee to direct
registration and the other way round.
13
The approval of orders by ABN AMRO
13.1 ABN AMRO approves an order if the Spending Limit of the Client is sufficient for the integral
execution of the order. The Client accepts that, in order to cover the execution of an order, ABN AMRO
debits its account or transfers Securities from its Securities Portfolio up to the cover imposed by legal,
regulatory and contractual provisions. ABN AMRO reserves the right to require additional security or
additional payment.
13.2 If the Spending Limit does not allow the integral execution of the order, then ABN AMRO may decide
not to pass the order on to the Stock Exchange for partial execution.
General Banking Terms Consumers 18/29
13.3 From the point when it approves an order until the resulting transaction has been effectuated,
ABN AMRO may freeze the Client’s Cash Account for the total expected payable amount (in case of a
buy order) or for the Securities involved (in case of a sell order) until the transaction has been settled.
In the case of a buy order when the Client has as securities-debt credit, ABN AMRO will take also into
account the Securities Collateral resulting from the order as well as the credit limits the order entails.
13.4 ABN AMRO reserves the right to delay execution of sale orders until such time as the Securities
have been lodged with ABN AMRO. Payable coupons must no longer be attached to the Securities;
coupons which are not yet payable must be attached to them. ABN AMRO reserves the right to
repurchase at the expense and risk of the Client Securities that are the object of a sale order given
and that were not delivered on time or were otherwise improperly delivered. ABN AMRO further
reserves the right only to execute such orders if it is materially possible to transmit them on time to
the correspondent.
13.5 In the absence of instructions to the contrary received in time and providing that the Spending Limit is
sufficient, ABN AMRO is entitled to debit the Cash Account for amounts due in respect of Securities
to which the Client has subscribed.
14
Order execution
14.1 Where ABN AMRO executes orders on behalf of Clients or passing on orders to third parties,
ABN AMRO will act in accordance with its order execution policy that applies to this Agreement.
14.2 Securities orders passed on by ABN AMRO to a Stock Exchange for execution, which have not
been placed by the Client as a day order, remain valid until the last stock exchange day of the month
following the month in which the order was placed.
14.3 The Client agrees that ABN AMRO may combine orders with those of other clients, in which case
orders will not be offered directly to the Stock Exchange for execution. ABN AMRO will only use
this authority if it is improbable that the combining of orders will be to the detriment of the Client.
However, it cannot be excluded that the combining of orders may be to the disadvantage of the Client
in specific cases. If ABN AMRO is not able to fully execute the combined orders, then the specific
Securities will be allocated prorata to the size of the original orders.
All allocations of orders by ABN AMRO will be carried out at the average price of the executed part of
the combined orders.
15
Confirmation and execution of orders – difference between the order and its execution
15.1 Unless an order is executed on the same day as it is offered to the Stock Exchange, the Clients will
receive order confirmations for each approved order.
15.2 After the execution of an order has become final according to the Stock Exchange (rule), in most cases
no later than the first Working Day after execution or if ABN AMRO receives a confirmation from a
third party, no later than the first Working Day after receipt of said confirmation from the third party,
ABN AMRO sends the Clients a securities contract note, either in writing or electronically, containing
information regarding the execution and the amounts due and payable as a consequence. If an order
is executed through several transactions on the same day, the confirmation of the execution of the
order will mention the time of execution of the last transaction.
15.3 Any information regarding the execution of an order and the amounts due and payable as a
consequence shall always be conditional, where ABN AMRO provides these in any manner other
than through a securities contract note provided during the period commencing immediately from
the moment the order is given by the Client until two hours after the moment at which the execution
according to the specific stock exchange (rule) has become final and conclusive.
15.4 If the Client has not disputed the contents of the periodical overviews, account statements, order
confirmations, securities contract notes or other statements provided by ABN AMRO, either on paper
or via electronic channels within one week after the statements are reasonably deemed to have
reached him, the contents of the statements are deemed to have been approved by the Client.
16
Settlement of transactions
16.1 In the context of an executed order, ABN AMRO will only credit or debit the Securities Account of the
Client with the purchased or sold Securities with the simultaneous debiting or crediting of the Cash
Account of the Client by the amount due or the amount receivable.
16.2 The transfer of Securities depends on the settlement period applicable at the specific Stock Exchange
and can take some time. This applies both to buy and sell transactions.
16.3 If the Client asks for material delivery of Securities, it undertakes to collect the Securities within
3 months of written notification that they are available. Thereafter, ABN AMRO will transfer the
Securities on behalf and at the cost of the Client in the Securities Portfolio; if the Client has no
Securities Portfolio, ABN AMRO will open a Securities Portfolio in the name of the Client at its
discretion.
General Banking Terms Consumers 19/29
This paragraph also applies to Securities that were handed in by the Client due for sale where the sale
cannot take place; the above-mentioned term of 3 months commences as of the date of notification
that the sale could not be carried out.
17
18
19
Subscription to Securities
The contents of the Investment Services Conditions regarding the purchase of Securities or,
respectively, the (settlement of the) orders in that context, shall apply accordingly and where possible,
to the issuance of Securities.
Restitution
The Client can consult a bulletin at ABN AMRO which lists blocked Securities, i.e. where payment has
been stopped. The Client assumes all responsibility that may arise from the depositing or negotiation
of protested Securities or valuables or certificates that are no longer valid. The Client must indemnify
ABN AMRO, at the latter’s first request, for all damages incurred by ABN AMRO as a result of any
transaction in relation to such Securities or valuables. ABN AMRO is entitled to debit the accounts of
the Client for the full amount of the equivalent value plus any additional damage without any notice
being required. Extrajudicial stopping of payments in respect of instruments is not permitted.
Custody of Securities
19.1 On depositing securities, the Client receives a receipt with the identification of the securities given in
custody.
19.2 Except in the event of an instruction to the contrary, the Securities deposited in a management
account are subject to the system of replaceability in accordance with Royal Decree No. 62 of 10
November 1967. The Bank is consequently not accountable for the serial numbers and must only
deliver Securities of the same type and value. In the case of a draw, ABN AMRO will carry out the
distribution among the depositors of the financial instrument involved with due diligence.
19.3 The Client is under an obligation to communicate instructions to ABN AMRO in sufficient time to
permit the latter to perform the required services in respect of Securities deposited. Where no such
specific instructions are communicated, ABN AMRO will take all reasonable and all usual steps to
perform in the Client’s best interests, notably with respect to clipping coupons, the collection of
interest and dividends, redemption, capital or capital appreciation of the deposited Securities; in
such a case, ABN AMRO cannot be held liable for late or non-execution of the rights attached to the
concerned Securities. ABN AMRO credits the account designated by the Client with the amounts
to be collected, after deduction of charges and costs, and where applicable, after deduction of
withholding tax. The Client may give other instructions to the Bank which will only accept these
instructions insofar as they fully correspond to the relevant circulars of the FSMA
Crediting is subject to the physical collection on the account; in the event that collection cannot be
carried out, ABN AMRO shall be entitled to operate a routine debit on the Client’s account to the
amount by which it was previously credited, together with such costs and exchange rate adjustments
as apply, without notice being served to that effect. ABN AMRO is not liable for the consequences of
settling the collection of coupons and reimburseable Securities effected abroad as a result of present
or future limitations, if any, in respect of exchange control and export of capital.
19.4 A safe custody fee is due for the custody of the Securities entrusted to ABN AMRO; the tariffs of such
fee are available for consultation at each branch of ABN AMRO and can be obtained on request. The
safe custody fee together with the costs and taxes and charges as apply is calculated on a semester
basis and is payable at the end of each semester. These charges are not refundable either in part or in
whole, irrespective of whether or not some of the Securities deposited for safekeeping are withdrawn
in the course of the year.
19.5 ABN AMRO is routinely empowered to debit the Client’s account in respect of the safe custody fees
due. If a Securities Portfolio is registered in the name of several persons, each of these persons is
individually responsible to ABN AMRO for payment of the entire safe custody fee outstanding.
19.6 In the absence of instructions to the contrary, all instructions relating to a Securities deposit held in
the name of several persons must be communicated to ABN AMRO by all the persons concerned,
acting in concert.
19.7 Where usufructuary rights are attached to a Security on deposit, the deposit in question is registered
to both the outright owner and the usufructuary, i.e., beneficiary. ABN AMRO reserves the right to
secure prior agreement between or joint instruction from the outright owner and usufructuary before
executing any transaction relating to a Security on deposit which is jointly held by an outright owner
and an usufructuary. Without prejudice to this article 19.7, the beneficiary’s account is credited with
periodic income from the Securities on deposit (principally dividends and interest) and debited for
charges arising (principally custodial fees, handling and management fees, and correspondence fees).
The beneficiary has free use of the funds credited to its account. Also without prejudice to the
foregoing and the rights of the usufructuary, the account of the bare owner shall be credited with
the capital or the capital growth of the securities on deposit (e.g. the amount of securities that have
become payable, lots, premiums, payment of reserves or capital) and debited with the amount of the
purchase price of new securities, the brokerage and/or the usual costs of stock exchange operations.
General Banking Terms Consumers 20/29
19.8 If ABN AMRO loses the deposited Securities, other than as a result of force majeure, it shall only be
responsible for their replacement with equivalent Securities or for the reimbursement of their value,
with all other compensation ruled out.
20
Engaging third parties and custody of Securities by third parties
20.1 ABN AMRO may engage third parties for, among other things, providing Securities in the custody
of third parties and acquiring rights in respect of the Securities through the intervention of third
parties. ABN AMRO will, in principle, ensure the choice of the third parties and it will only be liable for
shortcomings of third parties if it has failed to observe the necessary care and alertness in selecting
these said third parties.
20.2 If the Securities of the Clients are kept in custody at a third party via its Securities depositories,
ABN AMRO shall not be liable for the acts or omissions of this third party or for any other loss or
damage to the Securities of the Client, unless the said loss or damage is attributable to ABN AMRO in
the selection of this third party.
The Client is aware of the possibility that, in case of the non-fulfilment by or the bankruptcy of a third
party, he may not be able to regain (all) his Securities.
20.3 If ABN AMRO has given Securities in safe custody to a third party, then this third party may keep
the Securities of the Client in an omnibus account, containing the Securities of several ABN AMRO
Clients. In this context, an omnibus account is taken to mean a combined account kept at a third party
in the name of one of the Custodian companies of ABN AMRO. The Client is aware of the possibility
that in case of non-fulfilment or bankruptcy of a third party, or if shortages arise in such an omnibus
account, he may not be able to regain (all) his Securities.
20.4 It may occur that under the national laws applicable to a third party where Securities of the Clients are
held, it is not possible to distinguish Securities of the Client from Securities that this third party holds
for itself or for ABN AMRO. The Client is aware that in case of the non-fulfilment or bankruptcy of the
said third party, or if there are shortages in fulfiling all claims, he may not be able to regain (all) his
Securities.
20.5 The Client is aware of the fact that, if Securities or funds are kept in custody by a third party outside
the European Economic Area, in the case of the non-fulfilment or bankruptcy of said third party, his
rights attached to these Securities or funds may differ from the custody of Securities in a state within
the European Economic Area.
21
Activities that are part of administration
21.1 The activities in relation to the administration carried out by ABN AMRO, insofar as ABN AMRO is
responsible for this administration, include among other things, insofar as necessary and within the
power of ABN AMRO, the collection or receiving of interest, repayments and dividends, the exercising
or conversion into cash of claim rights, the acquisition of new coupon or dividend sheets, the
conducting of conversion acts, the deposit of Securities for meetings, and the remitting of amounts
received by ABN AMRO (reduced by possible costs and after deduction of any tax due) to the Client.
21.2 If third parties within the meaning of article 20 are responsible for the activities referred to in the
first subsection, this does not alter the obligation of ABN AMRO to remit to the Client the amounts
it receives from third parties in respect of interest, repayment, dividend or by any other virtue for the
benefit of the Client.
21.3 ABN AMRO no longer assumes responsibility for the management of Securities that have been called
out but not collected.
22
Instructions in relation to the administration
22.1 Insofar as the instructions of the Client are necessary in the context of the administration of the
Securities Portfolio, the Client always gives these instructions to ABN AMRO, regardless of who is
responsible for the administration.
22.2 Subject to the content of the third subsection, ABN AMRO will keep the Client informed about
relevant events that affect the Securities in his Securities Portfolio, with the exception of meetings of
shareholders. The aforementioned only applies insofar as the events are mentioned in advertisements
published by the issuer of Securities aimed at the holders of the specific Securities and these
advertisements have been published in the journal prescribed by the Stock Exchange where the
Securities are traded, or, failing that, in the journal that is normally used for this purpose.
22.3 In respect of Securities that are kept in custody by the third parties referred to in article 22, the
content of the second subsection shall only apply insofar as ABN AMRO has been informed of this
matter by the said third party.
General Banking Terms Consumers 21/29
23
Costs and associated charges
23.1 The costs and/or associated charges which ABN AMRO charges the Client in the context of
the Investment Services can be found in the brochures about costs and charges published by
ABN AMRO. Furthermore, the current costs and associated charges can always be requested at
ABN AMRO.
23.2 ABN AMRO reserves the right to change the costs and associated charges referred to in the first
subsection of this article at any time. Each time when the costs and charges are changed, ABN AMRO
will send a notification directly to the Client which will indicate that the costs and charges will be
changed.
23.3 ABN AMRO is authorised to debit from the Cash Account of the Client all amounts which it has to
claim from the Client in the context of costs, taxes and/or commissions within the meaning of this
article.
24
25
26
27
Additional reporting obligations
At least once a year, ABN AMRO provides the Client with an overview of the Securities Portfolio,
either in writing or electronic.
Restitution
Withdrawal of securities deposited is subject to three days’ notice. ABN AMRO must be notified
of withdrawals of securities 3 Working Days beforehand. ABN AMRO must return the requested
Securities within a reasonable period of time, without prejudice however to Title I article 16. No return
shall be due in the event of a force majeure.
List verification
On the request of the Client and against payment, ABN AMRO shall verify the drawings relating
to Securities that is does not have custody of. This shall be completed on the basis of a list of the
aforementioned Securities that the Client has been supplied with under his own responsibility. In the
event of the Client requiring ABN AMRO to proceed with the list verification, ABN AMRO reserves the
right to suspend an instruction to sell the securities concerned until the following business day.
Conflicts of interest
27.1 ABN AMRO has taken measures to warrant an independent performance from the business unit
that provides the Investment Services. Based on these measures, any non-public, price-sensitive
information that may be known within ABN AMRO by any other virtue, will not be used in the
Investment Services provided to the Client. If a conflict of interest turns out to be inevitable,
ABN AMRO will immediately inform the Client thereof in writing or via electronic channels, stating the
details that should allow the Client to make an informed decision regarding the Investment Services in
respect of which the conflict of interest occurs.
27.2 In the context of the Investment Services provided by ABN AMRO, it may occur that ABN AMRO pays
or receives fees or commissions to or from third parties, or obtains non-monetary benefits. The Client
will not be able to claim any of the compensation that ABN AMRO receives from third parties, unless
legally otherwise prescribed A summary of the essential terms of such arrangements will be provided
by ABN AMRO where applicable. Furthermore, upon written request, ABN AMRO will provide the
Client with further details.
28
Consent of the Client for electronic provision of information
28.1 The Client agrees that ABN AMRO will send the Client personal information, including periodical
overviews, account statements, order confirmations, securities contract notes, or other personal
statements, instead of by mail (in paper form) on another durable medium, such as electronic
channels, Internet banking or e-mail. The Client undertakes to consult the statements received
electronically at least once a week and to view them and possibly store them.
28.2 The Client agrees that ABN AMRO can provide non-personal information to the Client in respect of its
Investment Services via the website www.abnamro.be. ABN AMRO ensures that the information is
current and, as long as it is of importance to its clients, available via its website.
28.3 ABN AMRO will only use the authority referred to in the previous subclauses if this fits within
the context in which ABN AMRO conducts business with the Client. In deviation to the previous
subsections of this article, ABN AMRO will provide the aforementioned information in writing at the
request of the Client, if the Client does not have regular access to the Internet or to other electronic
channels.
General Banking Terms Consumers 22/29
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30
Breach of mandatory regulations
ABN AMRO is authorised to terminate Securities positions on behalf of the Client if the continuation
of such position would lead to any breach of mandatory regulations.
Transfer of Securities to another institution
30.1 ABN AMRO will not honour a request for the transfer of Securities to another institution until the
Client has fulfilled all obligations arising from the Investment Services in respect of ABN AMRO. Nor
may the Client have any other obligations in respect of ABN AMRO that stand in the way of this.
30.2 If the Securities to be transferred contain any options or other financial instruments that could lead
to obligations, ABN AMRO must have received the written approval with the transfer of the other
institution.
30.3 Should the Client have requested that Securities be transferred to another financial institution but
the actual transfer has not yet been effectuated, it may in some cases remain possible for the Client
to make use of the Investment Services. However, such use will be restricted exclusively to sell and
close transactions.
30.4 The transfer of Securities, within the meaning of the first subsection of this article, may not be
construed as an indemnification by ABN AMRO in respect of the Client.
31
Termination of the Investment Services and limitation
31.1 This article shall also apply if the entire banking relationship of which this Agreement is part, is
terminated pursuant to another provision, such as article 23 of the General Conditions of ABN AMRO.
31.2 From the moment of termination of the Agreement, ABN AMRO will settle approved orders of the
Client to the maximum degree.
New orders will no longer be approved, unless this concerns sale orders or closing orders.
31.3 If the Agreement has been terminated, the Client will have to transfer his securities to a designated
financial institution within four weeks. After this period, ABN AMRO has the right to liquidate the
Securities Portfolio of the Client and to credit the proceeds thereof, after settlement, to his Cash
Account.
31.4 If it becomes clear that the Client is untraceable, ABN AMRO can terminate the Investment Services
with this Client after two years. The Client is untraceable one year from the day it became clear to
ABN AMRO that the Client could not be reached at the last-known postal address. The Securities of
the Client will be sold and the Client may claim the proceeds thereof at ABN AMRO respectively with
the “Deposito & Consignatiekas” to whom the proceeds will be transferred in accordance with the
legal obligations.
32
Complaints and limitation of damage
32.1 Without prejudice to the terms mentioned in these Investment Services Conditions, within which
complaints must be communicated to ABN AMRO, Title I article 15 of the General banking Terms
applies to complaints of the Client in relation to Investment Services.
32.2 If a dispute concerns Securities that are still part of the Securities Portfolio, the Client is obliged as
soon as the dispute arises to limit his damage, if any, by selling the specific Securities and/or closing
the option positions, or to limit his damage in any other appropriate manner, regardless of the final
outcome of the dispute and the possible liability of ABN AMRO.
General Banking Terms Consumers 23/29
VIII. Information and terms payment
services for individuals
With regard to payment services, the provisions of this title apply: they are supplemented by the other
provisions of the banking Terms insofar as the latter-mentioned do not depart from the provisions of
this title.
1
Definitions
Payment Account: a Bank account at the Bank held by the Client as a consumer that is used for Payment
Transactions.
Payment Transaction: a deposit or withdrawal of cash, transfer, standing payment order, direct debit,
payment via a Payment Terminal (PIN, Maestro or Proton) and the loading or repayment of the balance
on the Proton card.
Payment Instrument: every personalised instrument and/or set of procedures agreed between the
Bank and the Client for issuing a payment instruction.
Bank Card: every credit card or debit card issued by the Bank.
Payment Services Information Sheet: the Payment Services Information Sheet for Individuals in
which the Bank, in writing or electronically, publishes further rules and information with respect to,
among others, the matters governed by these Payment Services Terms.
Internet Site: the internet site of the Bank: www.abnamro.be.
Instruction Date: the date on which the processing of an instruction commences, as further
described in Title VIII, article 5.
Pin Code: a personal identification number to be used by the Client in combination with the Bank
Card.
SEPA region: Single Euro Payments Area, the area of the European Union, together with the
countries Iceland, Norway, Liechtenstein and Switzerland.
Working Day: every day on which the Bank of the payer or the Bank of the beneficiary that is involved
in the execution of a Payment Transaction is accessible for the activities required for it.
Unique Identifier: The BIC plus IBAN code that the Client has to specify to the Bank to
unambiguously identify the other payment user or his account.
Payment Services Act: the Belgian Act of 30 October 2009 on payment services.
2
3
4
Area of application
The Payment Services Terms apply to the Payment Account of the Client, his Bank Card and his
Payment Transactions executed in euros or in the currency of an EEA country, as well as to all (existing
or future) relations in this respect between the Client and the Bank.
Use of the payment account
The Client may – within the limits stated in the Payment Services Information Sheet - use his Payment
Account for Payment Transactions provided that the balance in the Payment Account is sufficient to
carry out the Payment Transaction, or the Client has a credit facility on the Payment Account where
there is sufficient margin for the execution of the Payment Transaction.
The Payment Account also has the function of an account in which debts that the Client and the Bank
have with respect to one another are administered and offset against one another.
The Bank may designate categories of accounts (such as savings accounts) as a Payment Account,
with further specified limitations on use for the carrying out of Payment Transactions.
The Client is only allowed to use the Payment Account in the capacity of a natural person acting
outside the exercise of a profession or business. The Client may not invoke these Payment Services
Terms for unauthorised use.
Authorisation/ electronic signature
The Bank Card with Pin Code can be used for authorisation and for providing an electronic signature.
The Client shall use the Bank Card and the Pin Code according to the instructions given by the Bank
(for example, via the Payment Services Information Sheet).
General Banking Terms Consumers 24/29
5
Payment transaction instruction
5.1 Execution period
A. Except for domestic transactions entered electronically by a Client, upon receiving a payment
instruction to settle a Payment Transaction in a member state of the European Economic Area (EEA),
the Bank shall credit the institution with which the account of the beneficiary is held:
I. If the Payment Transaction is entered electronically and concerns a Payment Transaction in euros
or another currency of the EEA, at the latest at the end of the third Working Day after the time of
receipt by the Bank.
II. For all other payment instructions, at the latest at the end of the fourth Working Day after the time
of receipt by the Bank.
III.For payment instructions that lead to payments that require a number of currency exchanges
or payments outside the EEA, other execution periods may apply. The Bank shall provide more
information on this on request.
B.
Upon receipt of a payment instruction for a domestic Payment Transaction, the Bank shall credit the
institution with which the account of the beneficiary is held:
I. For the execution of electronically initiated Payment Transactions between two payment accounts
in which the Bank of the payer and of the beneficiary are the same entity, at the latest at the end of
the same working day as the time of receipt by the Bank.
II. For the execution of electronically initiated Payment Transactions between two payment accounts
in which the Bank of the payer and of the beneficiary are not the same entity, at the latest at the
end of the next Working Day after the time of receipt by the Bank.
III.For Payment Transactions initiated on paper, at the latest at the end of the second Working Day
after the time of receipt by the Bank.
C.
The Bank may set a cut-off time in the Payment Services Information Sheet for the receipt of
instructions (which may differ according to the type of Payment Transaction, communication channel
or other circumstances). The time of receipt for a payment instruction is:
I. The time of receipt of a payment instruction by the Bank, if this is on a Working Day before the
agreed cut-off time. If the time of receipt of a payment instruction is not on a Working Day or if this
payment instruction is after the agreed cut-off time, at the latest on the next Working Day.
II. The day agreed by the Bank and the Client for the execution of a payment instruction. If this day
is not a Working Day, the payment instruction shall be deemed to have been received on the next
Working Day.
D.
As of 1 January 2012, Title VIII articles 5.a (i) and (ii) of the banking Terms shall be as follows:
I. If the Payment Transaction is entered electronically and concerns a Payment Transaction in euros
or another currency of the EEA, at the latest at the end of the next Working Day after the time of
receipt by the Bank.
II. For all other payment instructions, at the latest at the end of the second Working Day after the time
of receipt by the Bank.
The Bank may fully invoke any grounds recognised by the law to refuse a payment instruction or to
suspend its execution.
5.2 Revocation of a payment instruction
Contrary to Title I article 10, the Client may not revoke a payment instruction once the Bank has
received it. When the Payment Transaction is initiated by or via the beneficiary and the Client has
either issued the payment instruction or consented to the execution of it to the beneficiary, the Client
may no longer revoke his consent.
For a direct debit, the Client may revoke the payment instruction, however at the latest at the end of
the Working Day prior to the agreed day on which the Payment Account is debited.
The Client may also revoke a payment instruction that commences on a specific date agreed with the
Bank, or at the end of a specific period, or when the Client makes funds available to the Bank, at the
latest at the end of the Working Day that precedes the agreed day.
After expiry of the periods mentioned above, the payment instruction may only be revoked if the Bank
agrees to it. Moreover, to revoke payment instructions that have been initiated by the beneficiary or
for direct debits, the consent of the beneficiary is also required. For the exercise of this additional right
of revocation, the Bank may charge the Client costs.
5.3 Non-execution
A. In the event of the non-execution of a payment instruction (for example on account of refusal or the
impracticability of the instruction), the Bank shall inform the Client of this as soon as possible and,
if possible, of the reasons for it and the procedure for correcting any factual inaccuracies that led to
the refusal, without prejudice to the application of any legislation that prohibits this. If the refused
execution is objectively justified, the Bank may also charge the Client the costs of the notification. At
the request of the Bank, the Client will supply additional information regarding the instruction.
General Banking Terms Consumers 25/29
B.
If the beneficiary has not received the instructed payment (on time), the Bank shall only debit the
instructed payment from the account of the Client if the Bank demonstrates that the payment has
reached the Bank or other payment service provider of the beneficiary.
Except for that case, the Bank shall cancel any debits that have already been made with observance
of the original value date, and the Bank shall reimburse the costs for which it is responsible to the
Client, as well as the interest that the Client is charged on account of the non-execution or incorrect
execution of the Payment Transaction. The Bank is also bound to reimburse to the Client the amount
of the costs incurred by the Client to determine the damage to be compensated and the lost or
charged interest, and the costs attached to an incorrectly executed Payment Transaction.
5.4 Limits
The Bank and the Client agree that there are limits on the Payment Transactions to be executed for
the Client (for example the size or numbers of them). These limits may differ according to the Payment
Transaction. The agreed limits shall be given to the Client in the Payment Services Information Sheet
or via other agreed channels.
5.5 Exchange rates and interest
A. A currency exchange for outgoing payments shall be done on the Instruction Date and for incoming
payments on the date of being credited, on the basis of the exchange rates set for this day by the
Bank.
The Payment Services Information Sheet states how these exchange rates, as well as the current
interest applicable to the Payment Account, can be requested from the Bank.
B.
The Bank reserves the right to modify the tariffs and interest rates. Changes to the prices for the
payment services provided by the Bank must be communicated to the Client on paper or on another
durable medium at the latest two months before the intended date of effect of them. The Client shall
be deemed to have accepted these changes if he has not informed the Bank before the set date
of effect of the changes that he does not accept the changes. The Client is entitled to immediately
terminate this framework agreement without charge before the date of effect of the changes.
Changes to the interest rate or exchange rate apply with immediate effect and without prior notice.
The Client and the Bank agree that the Client shall be informed of such changes to the interest rate by
the Bank by letter, by a supplement to the account statement, and/or by an electronic message.
5.6 Stoppage of a Payment Instrument
The Bank reserves the right to stop a Payment Instrument at any time for objectively justified reasons
relating to the security of the Payment Instrument, suspected unauthorised or fraudulent use of it,
or, for a Payment Instrument with a credit agreement, the substantially increased risk that the Client
is no longer able to observe his payment obligations. The Bank shall inform the Client of this stating
the reasons, except when it goes against objectively justified security considerations or is prohibited
by virtue of other legal provisions in this respect. The Bank shall unstop the Payment Instrument or
replace it with a new Payment Instrument as soon as the reasons for stopping it no longer exist.
5.7 Value dates
Amounts paid or transferred in euros or in one of the currencies of the EEA to Payment Accounts that
bear interest, shall bear interest on the Bank Working Day on which the Bank receives the funds.
The withdrawn or transferred amounts in euros or in one of the currencies of the EEA shall no longer
bear interest as of the Bank Working Day on which they are withdrawn or transferred.
6
7
Statements
The Client shall receive a statement no less frequently than monthly, without charge with the relevant
information on the Payment Transactions and any other entries that have been made to the charge of
or in the favour of the Payment Account.
On the request of the Client, the Bank may provide additional Statements against payment of the
applicable rates for them.
Complaints, duty of damage limitation, refund and liability
7.1 The Client shall always observe all user and security instructions of the Bank, including those in the
banking Terms and the Payment Services Information Sheet, with respect to his Bank Cards, Digipas
and other means of client identification, forms and communication channels.
The Client shall take all reasonable measures to guarantee the security of the payment instrument
and the personalised security features of it. The Client shall also immediately report all (reasonable
suspicion of the possibility of) unauthorised use to the Bank or the designated entity, so that the
Bank has the opportunity to take reasonable measures to prevent (further) damage. The report must
be made to the ABN AMRO branch in Belgium that manages the account of the Client, through
the channels known by the Client, or for Bank cards to the central reporting number Cardstop 070
344344(24 hour, 7 days a week).
General Banking Terms Consumers 26/29
7.2 If Payment Transactions are made to the charge of the Payment Account that have not been
authorised by the Client, or which have been executed incorrectly, the Client must immediately inform
the Bank, and at the latest 13 months after the value date of the credit or debit of the transaction
concerned. In such a case, in departure to the other provisions of these banking Terms, a different risk
distribution shall apply, such that the risk is entirely to the charge of the Bank, without prejudice to the
following:
I. If Payment Transactions take place before the report mentioned in the first paragraph of this article,
they shall be to the charge and at the risk of the Client, up to a maximum of EUR 150 if a lost
or stolen means of client identification is used without authorisation, or when this unauthorised
usage was made possible through the negligence of the Client to guarantee the security of the
personalised security features, unless a case arises as under (ii) or (iii).
II. In the event of gross negligence on the part of the Client in the strict observance of the user and
security instructions and/or obligation of immediate reporting given in the first paragraph of this
article, the maximum under (i) shall not apply and the Client shall bear the loss. In the event the
Client did not respect the reporting obligations he will bear the full loss up to the time that he
notifies the Bank.
III.In the event of fraud or intent on the part of the Client, the Payment Transactions shall always be to
his full charge and risk.
The Client shall not be bound by the above-mentioned losses, save for his fraudulent or intentional
action, if the Payment Instrument has been used without physical presentation and without electronic
identification, or if the Payment Instrument has been forged by a third party or unlawfully used, insofar
the Client was in possession of the Payment Instrument at the time of the disputed transaction.
In departure to Title VIII article 2, the provisions of this paragraph 7.2 apply to payment transactions in
all currencies.
7.3 Upon penalty of non-rectification, the Client must immediately inform the Bank, and at the latest
thirteen months after the value date of the debit or credit, of the unauthorised or incorrectly executed
Payment Transaction in question that gives rise to a claim.
7.4 Instruction to reverse a Payment Transaction
The Client may only request a reversal of an authorised Payment Transaction initiated by or via
the beneficiary if the precise amount of the Payment Transaction was not certain when the Client
consented to the transaction, and moreover the precise amount of the payment transaction is higher
than what the Client could have reasonably expected on the basis of his earlier expenditure pattern
and the relevant aspects of the case.
However, the Client may not request a reversal if he has given his consent to the Bank beforehand
for the execution of the Payment Transaction, or series of Payment Transactions, and the information
concerning the Payment Transaction(s) to be executed was communicated or made available to the
Client at least four weeks before the payment date, either by the Bank or by the beneficiary of the
Payment Transaction(s).
The reversal must be requested from the Bank by the Client within 8 weeks of the date of the funds
being debited.
In the event of a reversal, the account of the Client shall be credited as quickly as possible, and at the
latest within 10 Working Days of the request for repayment.
A refusal to make the reversal must be justified by the Bank to the Client within 10 working days of
receiving the request for repayment.
If the Client does not agree with the reasons, he may submit a complaint to the competent officers of
the Ministry of Economic Affairs.
When the Bank reverses a collected amount, it shall be done with the interest date of the earlier
debit. Notification of the reversal shall be given through the account statement.
7.5 The Bank is bound to compensate the Client for the costs for which the Bank is responsible and the
interest charged to the Client for the non-execution or incorrect execution of a payment transaction.
The Bank is also bound to compensate the Client for the amount of the costs incurred by the Client to
determine the damage to be compensated, as well as the lost or charged interest and costs attached
to an incorrectly executed Payment Transaction.
7.6 With regard to the execution of payment transactions, the Bank is responsible for the correct
execution of them except a) in cases of force majeure, b) when the Bank has to observe a legal
obligation, and c) if the Unique Identifier provided by the Client is incorrect. In such cases the Bank
shall not be liable for the non-execution or incorrect execution of the payment transaction.
If the Unique Identifier is incorrect, the Bank shall make reasonable efforts to obtain the return of the
funds involved in the payment transaction. The Client undertakes to reimburse the costs incurred by
the Bank to obtain the return of such funds, insofar these costs are appropriate and correspond to the
costs that the Bank has actually incurred.
8
Withdrawal and payment
8.1 Withdrawal
A withdrawal is a Payment Transaction by which the Bank pays an amount of cash to the Client to
charge of his Payment Account.
Withdrawals of cash are possible from the cash dispensers intended for this purpose and from the
branches of the Bank that facilitate withdrawals (during opening times).
General Banking Terms Consumers 27/29
To make withdrawals, the Client shall use his Bank Card with Pin Code or other means of client
identification stipulated by the Bank. Withdrawals from cash dispensers abroad are possible with a
Bank Card with the Maestro logo at dispensers that have Maestro, or with the credit card.
8.2 Payment
A payment is a Payment Transaction by which the Bank receives an amount of cash from the Client to
be credited to his Payment Account.
Such payments of cash can only be accepted by the Bank in exceptional cases.
9
Transfer
9.1 Outgoing/incoming payment
Regarding an outgoing payment, the Bank ensures, on behalf of the Client, that the Bank or other
payment service provider of the beneficiary receives the amount of the payment. Regarding an
incoming payment the Bank receives the amount on behalf of the Client.
A standing order is a transfer that the Bank regularly makes on the grounds of a single instruction
issued by the Client. Each standing order can be changed or cancelled by the Client before the
payment date. The standing order expires automatically with the death of the Client or with the
closure of the account to which the standing order is linked.
A SEPA transfer is a special type of (domestic or international) transfer in euros, between accounts
held by participating banks within the SEPA region. The Bank provides information on participating
banks on its website.
The Client may ask the Bank to execute a transfer as an urgent transfer. In such a case, the execution
shall be done as quickly as possible. The Bank reserves the right to charge costs for this.
9.2 Payment instruction
If the Client wishes the Bank to perform an outgoing payment, he shall instruct the Bank to this end.
The Bank is not bound to verify the correctness of the information stated in the Payment Instruction
and can execute the instruction on the basis of the beneficiary account number specified by the
Client.
For an international transfer in euros within the SEPA region or a SEPA transfer, the Client must state
the IBAN (International Bank Account Number) of the beneficiary and the BIC (Bank Identifier Code)
of the Bank of the beneficiary in the instruction. The Bank is only liable for the execution of payment
transactions in accordance with the specified account number, and if applicable the IBAN number and
BIC code provided by the Client, to the exclusion of any supplementary information that the Client
provides.
10
Direct debit
10.1 Mandate/mandate withdrawal
10.1.1 A direct debit is an (outgoing) transfer from the Payment Account whereby the beneficiary, as the
payee, issues the payment instruction by virtue of a (direct debit) mandate given to the beneficiary
by the Client. This mandate also counts as the consent of the Client to the payment instruction for
the Bank.
A SEPA direct debit is a special type of (domestic or international) direct debit in euros between
accounts held by participating banks within the SEPA region. The Client has to respect the terms
and conditions of the SEPA direct debit mandate he has agreed with his creditor. The Bank draws
the attention of the Client to the fact that each contractual or extra-contractual dispute regarding
a specific claim to which the mandate relates, needs to be addressed directly with the creditor,
given the Bank and the Bank of the creditor are not parties to the contractual relationship between
the Client and his creditor. The Client is nevertheless entitled to request reimbursement under the
conditions specified in articles 10.2. and 10.3. Title VIII.
The Bank provides information on participating banks on the following website: www.abnamro.nl.
A domiciliation may always be cancelled by the Client, the Bank or the beneficiary. A mandate is
withdrawn by the Client informing the beneficiary. Moreover, the Client undertakes to immediately
inform the Bank of the withdrawal.
A SEPA direct debit that is not utilized for 36 months, shall be automatically cancelled.
10.2 Reversal without specifying reasons
10.2.1Provided that the mandate does not state the amount to be collected and the amount of the
payment transaction is higher than the Client could have reasonably expected on the basis of
his earlier expenditure pattern and relevant aspects of the case, the Client may have the amount
collected by virtue of the mandate returned to his Payment Account by the Bank. To this end the
requirement is that the Client requests the reversal from the Bank within eight weeks of the date on
which his Payment Account is debited. The Client undertakes to provide the Bank with the factual
elements regarding the said conditions. The Client shall not be entitled to repayment if he has given
his consent to the payee for the direct debit transaction (or series of transactions), and the payee or
the beneficiary made the preparatory information available to the Client at least 4 weeks before the
transaction.
10.2.2If for the direct debit a SEPA direct debit mandate has been used, than the Client whose Payment
Account has been debited is entitled to request the Bank within eight weeks of the date on which
his account has been debited, the reimbursement of an already authorized and executed payment
transaction and this without giving any reasons. In this case the Bank will reimburse the Client
within ten working days of such request.
General Banking Terms Consumers 28/29
10.3 Reversal on account of the lack of a mandate
If there is no valid mandate for the executed direct debit, the Client may have the amount collected
returned to his Payment Account. To this end, the Client must inform the Bank of the lack of a
mandate as quickly as possible, and at the latest within thirteen months of the date of the debit, and
ask for its reversal. The Bank shall then check as quickly as possible whether the payee can show
a valid mandate, and in the absence of this shall reverse it. In this case the Bank is also entitled to
request the Client to provide a copy of the mandate he has agreed with his creditor.
10.4 Direct debit stoppage
The Client has the following possibilities to stop domestic (non-SEPA) direct debits from his Payment
Account:
A.Stoppage of all domestic (non-SEPA) direct debits.
B.Selective stoppage of all domestic (non-SEPA) direct debits in the favour of a certain account
number of a certain payee.
The Client can have the following possibilities to have SEPA direct debits stopped from his Payment
Account:
A.Stoppage of all SEPA direct debits.
B.One-off stoppage (refusal) of a specific SEPA direct debit. This can only be done if the Bank has
already received the specific direct debit instruction.
If he wants to make use of the said stoppage possibilities, the Client must request this on the
working day before the instruction date of the direct debit concerned at the latest, specifying the
desired form of stoppage and the required details.
A request to stop all domestic (non-SEPA) direct debits must be made two working days
beforehand. The Client may also, with observance of the said timelines, ask the Bank to make a
stopped direct debit specified by the Client to become payable again. The Bank does not need to
inform the Client of a refused execution of a direct debit by virtue of the stoppage.
11
Payment via a payment terminal
The Client can make the following payments against the Payment Account via a payment terminal:
Bankcontact/Mister Cash: with a Bank Card and Pin Code, a Client can pay for goods and/
or services in a company or institution in Belgium that accepts bankcontact/Mister Cash via a
payment terminal.
MAESTRO: with a Bank Card with the Maestro logo and Pin Code, a Client can pay for goods
and/or services abroad in a company or institution that accepts Maestro via a payment terminal.
Insofar the use of a Pin Code is not required, the Client must sign the transaction slip produced by
the payment terminal.
12
Payment via a payment terminal with proton function
Proton is the function for loading the Bank Card with electronic money with which the Client can
make payments in a company or institution that accepts Proton using a payment terminal suitable for
this.
For Proton:
I. Proton is loaded with the Pin Code using equipment authorised by the Bank.
II. The amount by which the Proton chip is loaded is charged to the Payment Account.
III A payment with Proton is done against the Proton balance, without an instruction to the Bank
and without using a Pin Code.
IV. It is not possible to have the Bank freeze the balance on the Proton function of the Bank card.
The Client bears the complete risk of the loss or unauthorised use of this balance.
V. The unit for loading the Proton balance can also be used to repay the unused Proton balance to
the Payment Account.
VI. The Client shall not be given a Statement of his payments with Proton.
VII. If the Proton function has become unusable, the Client may return the Bank Card to the Bank.
If the Bank is able to determine with its equipment that there is an unused Proton balance,
it will pay this balance to the Client by crediting his Payment Account. If it is not possible to
determine it in this way, and no more than twelve months have lapsed between the last loading
or payment transaction and the Bank Card being handed in, the Bank shall calculate any Proton
balance on the basis of the Proton loading and payment data, and credit this to the Payment
Account of the Client.
General Banking Terms Consumers 29/29
13
14
15
Payment services information sheet/sending information
The Payment Services Information Sheet of the Bank gives the Client further information on subjects
such as the Payment Account, the Bank Card, Payment Transactions, Working Days, limits, prices
and exchange rates.
The Client may ask the Bank to provide the Payment Services Information Sheet again or other
information relevant to Payment Services. The Payment Services Information Sheet can also be
downloaded from the Internet site.
The rules in the Payment Services Information Sheet are binding for the Client.
Further rules
The Bank may set further rules and change them from time to time (including restrictions) with
respect to the Payment Account, the Bank Card, and the Payment Transactions and the authorisation
of them. The Client shall adhere to them.
Change/termination
The Bank may always change the Payment Services Terms by giving notice to the Client with
observance of a period of two months. The Client is bound by the change unless he cancels the
Bank Services that the Payment Services Terms relate to before the date of effect of the change.
The Bank may end the Bank Services to which the Payment Services Terms apply, by giving notice to
the Client with observance of a notice period of at least two months.
The Client may cancel the Bank Service to which Title VIII applies, at any time and without charge, by
informing the Bank of this in writing one month beforehand.
General Banking Terms Consumers ABN AMRO Bank N.V., version April 2014, registered at the 10th
registration office of Antwerp on 17/04/2014.
ABN AMRO Bank nv, headquarters Gustav Mahlerlaan 10, 1082 PP Amsterdam KvK Amsterdam 34334259
Roderveldlaan 5 b4, 2600 Berchem - Register for Legal Entities Antwerpen 0819.210.332 VAT BE 0819.210.332
Account number ABN AMRO: BIC: ABNABE2AIPC, IBAN: BE72 9605 4053 2516