General Terms and Conditions
General Terms and Conditions
Table of Contents
Key Facts – Read This First
These Terms & Conditions are part of your Agreement with FirstBank UK Limited. They set out how your account works, what you need to do, and what we will do in certain situations.
Key “must-know” points:
- Fees and charges: The exact fees/interest that apply to you are in the Tariff of Fees and Interest and your product terms. If a fee applies for a service (e.g. tracing a payment or certain international payments), we will tell you before we proceed where we can.
- Fraud/scams: If you think you are being scammed or a payment is wrong, contact us immediately on +44 (0)20 7920 4920. Acting quickly improves the chance of stopping or recovering funds.
- Reporting deadlines: If you see a payment you don’t recognise, you must tell us without undue delay and no later than 13 months after the payment date (otherwise you may lose your right to a refund in some cases).
- Payments cut-off times: Instructions received after the cut-off time (or on a non-business day) are treated as received the next business day.
- Account restrictions/closure: We may block, suspend, restrict or close accounts in certain circumstances (e.g. legal/regulatory requirements, suspected fraud, eligibility changes). Where we can, we will explain the main reason and what you can do next.
- Extra support: If you need information in another format (large print, Braille, audio, easier-to-read) or need communication adjustments, tell us using the contact details in Section 1. You do not need to provide sensitive details to request support.
If you are unsure what any term means, contact us — we are here to help.
Part A - Getting Started
1. Who are FirstBank UK and how do I contact you?
1.1 Who we are
In these terms, “we”, “us” and “our” mean First Bank UK Limited.
First Bank UK Limited is a wholly owned subsidiary of First Bank of Nigeria Limited. We are:
- incorporated in England and Wales, with our registered office at 28 Finsbury Circus, London EC2M 7DT; and
- authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA (FCA firm reference number 216772).
Our Companies House registration number (04459383) and VAT number are set out in your account opening documents and on our website. More about our legal and regulatory status is in the section “Other legal bits” later in these terms.
1.2 How to contact us
You can contact us using the following details:
- By phone: +44 (0)20 7920 4920 (Client Services Group)
- By email: clientservicesgroup@firstbankgroup.com
- Online: www.fbnbank.co.uk, including secure messages via Online Banking (where available)
- By post: using our postal address as above.
If your query is urgent, for example, you think your card, security details or account have been misused, please call us on +44 (0)20 7920 4920 as soon as possible.
Opening times are Monday to Fridays from 9am to 5pm (excluding bank holidays in England and Wales)
You can ask for support at any time. You do not need to share personal medical details to request accessible formats or communication adjustments.
If you want, we can also explain key sections (fees, payments, fraud/scams, closure) in a shorter summary.
1.3 If you need extra support or information in another format
If you find it hard to use our services or to understand information we send you, for example because of a disability, health condition, language or a difficult life event, please tell us. We can usually:
- provide information in large print, Braille, audio or easier-to-read formats;
- adapt how we communicate with you; and
- help you set up a trusted person to help manage your account (for example, via a third-party mandate or power of attorney).
You can ask for this support using the contact details above.
We may make a note of your needs on our systems so we can take them into account when we deal with you.
2. Which documents make up my agreement with FirstBank UK?
2.1 The documents that form your Agreement
For each account you hold with us, your overall “Agreement” is made up of:
- these General Terms and Conditions;
- the product-specific terms for your account (for example, current account, savings account or fixed term deposit terms);
- our Tariff of Fees and Interest (which includes the Fee Information Document for Payment Accounts and the Schedule of fees and charges for Non-payment Accounts); and
- any additional conditions we agree with you (for example, minimum balances, notice periods or bespoke tariff arrangements), together with the application forms or account opening documents you complete and sign.
If there is a conflict between these General Terms and your product-specific terms, the product-specific terms will usually take priority for that account.
2.2 What these terms cover
These General Terms and Conditions set out the main terms that apply when you:
- hold an account with us; and
- use services linked to that account, such as debit cards and Online or telephone banking.
They apply to:
- Payment Accounts – currently our Current Account; and
- Non-payment Accounts – currently our Call Account, Instant Savings Account, Fixed Term Deposit Account and 30/60/90 Day Notice Accounts.
The detailed features of each account (for example, how you can access money, how interest works and any special rules) are described in the product terms for that account.
Who this agreement is between
Us FirstBank UK Limited (we might also say “our” and “we” in this agreement).
You (the account holder(s) or anyone acting on your behalf) The person(s)
whose name(s)are on the account, or your appointed representative.
2.3 Who these terms apply to
These terms apply to each account you hold with us if you are:
- a Consumer – an individual acting for purposes other than a trade, business or profession; and/or
- a Micro/Small/Medium Business Customer – businesses that aligns with the below, number of employees, annual turnover and/or asset total not exceeding the limit set out below (currently aligned with EU “micro-enterprise” criteria).
| Company Size | Turnover | Gross Assets | Employees |
|---|---|---|---|
| Micro | £1m | £500k | 10 |
| Small | £15m | £7.5m | 50 |
| Medium | £54m | £27m | 250 |
We may also apply these terms to certain other small organisations where we agree to open an account for them, in line with the eligibility criteria in your product terms.
2.4 When these terms start and how long they last
These terms apply from the point your Agreement for an account starts. This is usually when:
- we confirm that we have opened your account; or
- you first use the account or any related service, if that happens earlier.
They continue to apply until your Agreement ends, following the closing and suspension rules in these terms and in your product-specific terms (see Part E – If things change or go wrong).
2.5 Getting a copy of these terms and the latest version
We will give you a copy of these General Terms and Conditions, the Tariff and any applicable additional conditions when you open your account. You can ask us for a copy at any time using the contact details above.
We will also tell you when we make changes to these terms, your product terms, the Tariff or interest rates, in line with the section below on changes.
3. Am I eligible, and how do I open an account?
3.1 Who can open an account with us?
We will give you a copy of these General Terms and Conditions, the Tariff and any applicable additional conditions when you open your account. You can ask us for a copy at any time using the contact details above.
We will also tell you when we make changes to these terms, your product terms, the Tariff or interest rates, in line with the section below on changes.
- Personal customers (individuals) must usually:
- be at least 18 years old;
- have an annual income of at least £100,000;
- have assets of at least £250,000; and
- be acting for purposes other than a trade, business or profession (i.e. not as a business).
- Small business customers (companies and similar organisations) must usually:
- employ fewer than 10 people; and
- have an annual turnover and/or balance sheet total not over EUR 2 million; and
- have ultimate beneficial owners (and, where relevant, beneficiaries) who each meet the personal criteria above.
We may set extra or different criteria for particular accounts or services. These will be explained in the product terms and any additional conditions for that account.
3.2 Applying for an account – what we need from you
To open an account, you must complete our application form and give us all information and documents we reasonably ask for. This may include:
- proof of identity and residency;
- information about your income and assets and, for businesses, your ownership and control; information about the source of funds you will pay in; and
- any other details we need to meet our legal and regulatory duties (for example, anti-money laundering and sanctions checks).
We usually need to see originals or certified copies of documents and we will take copies and return them.
As part of our checks, we may:
- make enquiries with credit reference agencies; and
- carry out other screening checks to meet our “know your customer” obligations.
If your application is incomplete or we need more information, we will contact you to explain what is missing so that you can provide it. We can refuse to open an account or accept a deposit and do not have to tell you our reasons.
3.3 When your account is opened and when you can start using it
If we receive a complete application on a business day and have all the information we need, then:
- if we can confirm your identity and residency through our usual procedures, we will open your account once our checks are finished; or
- if we cannot confirm them in that way, we will ask you for more proof and open your account once we have satisfactory evidence.
If we receive your complete application on a non-business day, we will start processing it on the next business day.
If you send us money before your account is opened, we may hold it in a separate, segregated account until our checks are complete. While your money is held there:
- it will not be treated as paid into your new account; and
- it will not earn interest.
We may ask you for a specimen signature when we open your account. We may use this to check future paper instructions where relevant.
The additional conditions for each account will state any minimum deposit needed to open the account. If you do not meet this minimum, we may close the account. Details of current minimum deposit levels are in our Tariff and fee information on our website.
What do I need to open an account?
To open an account, you must complete our application form and give us all information and documents we reasonably ask for. This may include:
Proof of identity and residency;
Information about your income, assets and (for businesses) your ownership and control;
Information about the source of the funds you will pay in; and any other details we need to meet our legal and regulatory duties.
3.4 Keeping your details up to date
It is important that we can contact you about your account. You must tell us as soon as possible if any of your details change – for example:
- your name;
- your home or business address;
- your email address or phone number; or
- other key personal or business details.
You can usually update your details by writing to our Client Services Group. For some changes we may ask for evidence (for example, proof of a new address or a name change).
We will use the most recent contact details you have given us and will treat information sent to those details as having been sent to you.
3.5 If you change your mind after opening
For most current and savings accounts (but not for accounts with a guaranteed fixed interest rate), you may have a short-term right to cancel after opening the account.
Your product terms will say whether a cancellation right applies and how long you have (for example, 14 days from the later of:
- the day the contract is made; or
- the day you receive these terms, any additional conditions and the Tariff).
If you cancel within the applicable period:
- we will help you switch to another of our accounts if you wish; or
- we will return your money (and any interest earned on a non-fixed-rate savings account) within the timeframe set out in your product terms.
Important information about opening an account?
We may request, original documents or certified copies which we will copy and return the originals to you.
As part of our checks, we may:
- Inquire with credit reference agencies;
- Conduct additional screening for regulatory compliance;
- If your application is incomplete, we will contact you to clarify what is missing.
We reserve the right to refuse account openings or deposits without
providing reasons.
Part B – Using my account day to day
4. How do I pay money into my account?
4.1 Ways you can pay money in
You can usually pay money into your FirstBank UK account by:
- electronic transfer from another account (with us or another provider); and
- cheque, where we accept cheques for that type of account.
Your product terms explain any limits or restrictions on how you can pay money in (for example, if a particular savings account does not accept cheques).
4.2 Information needed for payments into your account
For payments from another provider, the person sending the money will usually need:
- our sort code; and
- your account number with us.
The other provider is responsible for using the correct details. If the information is wrong and we can’t identify your account, we will return the payment to the sender without adding interest, and we won’t be responsible for any loss caused by the incorrect details.
4.3 When money is available for you to use
We will credit your account once we receive the payment and it has cleared in line with normal banking practice. For cheques, that may take several business days; your product terms or welcome information explain typical timescales (for example, cheques drawn on a UK bank being fully available after a set number of business days).
If a payment is reversed, for example because a cheque is returned unpaid or an electronic payment is recalled, we will take that amount back out of your account, even if you have already used the money. If this leaves your account overdrawn or below zero, you must immediately pay in enough to bring it back into line. Charges may apply, as set out in our Tariff.
4.4 When we may return or refuse payments into your account
We may refuse or return a payment instead of crediting it to your account, for example if taking the payment would break a law, regulation or code, or if we reasonably believe accepting it could damage our reputation.
If a mistake has occurred and money has been paid into your account in error, you must tell us as soon as you notice. If we ask, you must return the full amount (including any interest).
If you knowingly spend money that is not yours, the amount paid to your account would be recovered from you. If this causes your account to be overdrawn or over an arranged overdraft, this will be considered as an unauthorised overdraft, and all associated charges will be managed in accordance with section 9.2.
5. How do I take money out and make payments (in the UK and abroad)?
5.1 Ways you can make payments and withdrawals
You can usually ask us to make a payment or withdrawal (subject to any account-specific conditions) by:
- using our Online Banking Service;
- giving us instructions in person at our office;
- calling us by telephone (where we have agreed this with you);
- sending us a signed instruction attached to an email, if we have specifically agreed to accept this; and
- using a debit card we have issued on your account.
We will only act on instructions from you or from someone you have formally authorised to act on your behalf.
5.2 Information we need to make a payment
Except for card payments, to transfer money from your account to another account we normally need:
- the payee’s details (for example, name, account number and sort code or IBAN);
- the date you want the payment to be made;
- which of your accounts we should take the money from;
- the amount and currency of the payment;
- the purpose of the payment (where required); and
- any other information or documents we reasonably ask for (for example, for higher-risk or international payments).
If you give us the wrong or incomplete payment details, we are not responsible if the payment is not made or is sent to the wrong account. We will make reasonable efforts to recover your money, but may charge you for doing so; we will tell you any charge before we start.
What is a business day?
Monday to Friday, 9am to 5pm excluding bank holidays in England and Wales.
What’s your security information
Any passwords and memorable information you have set up.
IMPORTANT – Payment cut-off times (what this means for you)
If we receive your instruction after the cut-off time, it will be treated as received the next business day. If a payment is urgent, contact us before the cut-off or speak to Client Services for options.
5.3 Security checks and email instructions
Before we act on electronic instructions (including email), we may agree specific security procedures with you. These can include:
- passwords, PINs, security codes or keys;
- particular forms or templates; and
- call-backs to a phone number we hold for you or your authorised person.
For an email instruction to be valid, it will usually need to include a scan of your signed instruction, and we may need to confirm it with you or an authorised person by phone. If we’re unable to contact you, we may delay or not make the payment.
We may introduce extra security steps from time to time before acting on your instructions.
5.4 Cut-off times and how long payments take.
If we get your payment instruction before the cut-off time on a business day, we treat it as received that day. If it arrives after the cut-off time or on a non-business day, we treat it as received the next business day. Our current cut-off times are:
- 3:00pm (UK time) for GBP and EUR payments;
- 3:30pm (UK time) for USD payments;
- different times may apply for other currencies (we will provide details on request).
If there are no delays or refusals under these terms, we normally execute payments as follows:
- Cash withdrawal in branch – immediately, once we have a valid signed instruction and completed any checks.
- Transfer to another FirstBank UK account – immediately after we receive the instruction.
- Transfer to a UK account in sterling – the other bank normally receives the money on the same day.
- Transfer to an EEA account in euro – the other bank normally receives the money by the end of the next business day.
- Certain other payments may take up to four business days. For other currencies or destinations, different timeframes may apply (we will tell you on request).
Automated payments (such as standing orders and direct debits) are normally taken at the start of the business day they are due, so money paid into your account later that day may not be available to meet those payments.
5.5 Cash withdrawals and ATM limits
To withdraw cash in person at our office, you must give us a signed instruction that matches the mandate on your account. For large cash withdrawals:
- any single withdrawal over £10,000 requires at least 48 hours’ notice (excluding non-business days); and
- there is a weekly limit of £20,000 across all your accounts, unless we agree otherwise in writing with at least 48 hours’ notice.
To withdraw cash from an ATM, you use your debit card and PIN. We will tell you your daily withdrawal limit and may change it from time to time. Some ATMs may charge their own fees.
IMPORTANT – Incorrect payment details
If you realise you provided incorrect details, contact us immediately — acting quickly improves the chance of recovery.
5.6 Changing or cancelling a payment
You can usually cancel a:
- standing order;
- direct debit; or
- other payment we have agreed to make on a future date, up to 5pm on the business day before the date the payment is due. You must contact us (by phone or in writing) before the cut-off and give us enough information to identify the payment.
If you cancel a foreign-currency payment after we have converted it, we’ll convert it back at the rate in force when you cancel. We’re not responsible for any loss due to changes in the exchange rate.
You can also cancel a Continuous Payment Authority set up on your card by contacting Client Services.
5.7 When we can refuse or delay a payment
We may refuse to act on a payment instruction or delay it, for example if:
- you haven’t given us all the information we need;
- there isn’t enough money in your account (or you’d exceed an agreed limit);
- we reasonably believe you didn’t give the instruction;
- the instruction is unclear, incomplete or not in the right format;
- making the payment could break a law, regulation, sanction or code;
- we suspect fraud or financial crime;
- fulfilling the payment could harm our reputation; or
- the account requires notice for withdrawals and you haven’t given that notice (in which case a fee or reduction in interest may apply as allowed by your product terms).
If we refuse your instruction and there is no legal or security reason preventing us, we will tell you and, where possible, explain why and how you can fix the issue.
Need to change or cancel a payment? Act before the cut-off.
You can usually cancel a standing order, direct debit, or other future-dated payment up to 5pm on the business day before it is due.
Contact us by phone or in writing before the cut-off and provide enough details to identify the payment.
6. How do cards, cash machines and Online Banking work?
6.1 Debit cards and card payments
If we issue a debit card on your account, you can use it to:
- pay for goods and services in person, online or by phone; and
- withdraw cash at ATMs.
You may be asked to authorise card payments, for example by:
- entering your PIN;
- signing a voucher;
- providing card details plus a one-time code;
- tapping or swiping your card (contactless); and/or
- completing any strong customer authentication we require.
If a card transaction is in a foreign currency, it will be converted to your account currency at the relevant exchange rate and fees may apply, as set out in our Tariff and debit card terms.
6.2 Online Banking
Our Online Banking Service lets you manage your accounts using an internet browser and, where available, a mobile application. Once registered, you can usually:
- view account balances;
- view, print or download statements; and
- set up and manage certain payments and standing orders.
We aim to keep the service available, but it may sometimes be wholly or partly unavailable, for example for maintenance or due to events outside our control. If you need technical support, you can contact our Client Services Group on +44 (0)20 7920 4920 or email clientservicesgroup@firstbankgroup.com.
Opening times are Monday to Fridays from 9am to 5pm (excluding bank holidays in England and Wales)
6.3 Third-party providers
You may choose to use an authorised third-party provider (for example, an Account Information Service Provider or Payment Initiation Service Provider) to access your accounts online. If you do, your Agreement with us still applies. We will give them access as required by law so they can provide their services.
You should only share your security details with a third-party provider if this is necessary for their service and they are properly authorised. If you do not check this and something goes wrong, you may be responsible for any payments they make.
6.4 Telephone contact and instructions
You can contact us by phone on +44 (0)20 7920 4920. Calls may be recorded for regulatory, training and monitoring purposes. If we have agreed that you can give instructions by telephone, we will apply security checks before acting on them and will only act on instructions from you or an authorised person. Opening times are Monday to Fridays from 9am to 5pm (excluding bank holidays in England and Wales)
7. How do I keep my accounts and security details safe?
7.1 Your security responsibilities
You must do everything you reasonably can to keep your security details and devices safe. This includes:
- keeping PINs, passwords and security codes secret;
- not sharing your security details or letting anyone else use them;
- destroying any written notification of security details as soon as you receive it;
- never recording security details in a way someone else could understand;
- keeping any security device (for example, a card, token or phone used to receive codes) physically safe; and
- not storing security details in your browser or software in a way that allows others using the same device to log in as you.
You should also keep account information and personal documents safe (for example, by shredding statements and other papers containing personal data).
7.2 If you think someone else knows your details or is using your account
Contact us as soon as you can if:
- you think someone else may know your security details;
- security procedures may have been breached;
- there has been unauthorised access to Online Banking; or
- your debit card has been lost, stolen or misused.
You can do this by calling Client Services on +44 (0)20 7920 4920 or emailing clientservicesgroup@firstbankgroup.com.
We may ask you to confirm details in writing.
We will then take steps to secure your account, for example by cancelling cards or blocking Online Banking access.
Opening times are Monday to Fridays from 9am to 5pm (excluding bank holidays in England and Wales)
7.3 Our responsibilities for security and when we may block services
We will take reasonable care to protect your accounts and information from unauthorised access and to prevent security breaches in our systems.
We may suspend, withdraw or restrict the use of your card, PIN or Online Banking, or freeze payments, if we have reasonable grounds, for example where we suspect your card, PIN or other security details have not been kept safe, or we suspect unauthorised or fraudulent use, or we must do so to comply with law, regulation or sanctions. Unless there is a legal or security reason why we cannot, we will tell you before or as soon as we can after taking this action.
Security concern? Tell us immediately.
If you think someone else knows your security details, online banking has been accessed without permission, or your debit card is lost/stolen/misused, contact client services straight away:
+44 (0)20 7920 4920
or
clientservicesgroup@firstbankgroup.com.
We may ask you to confirm details in writing and will act to protect you (for example cancelling cards or blocking online banking).
Opening times are Monday to Fridays from 9am to 5pm (excluding bank holidays in England and Wales)
8. What happens if a payment goes wrong or I’m the victim of a scam?
SCAM WARNING – If you think you are being scammed:
- Stop: do not send any more money.
- Call us immediately on +44 (0)20 7920 4920 (Client Services).
- If you were told to move money to a “safe account”, treat this as a red flag.
We will try to stop/recall the payment where possible and explain next steps.
8.1 If you see a payment you don’t recognise
Check your statements and transaction history regularly. Contact us as soon as possible if you notice:
- a payment you don’t recognise;
- a payment you’re sure you didn’t authorise; or
- a payment that looks wrong (for example, duplicated or for the wrong amount).
You must tell us without undue delay and no later than 13 months after the payment date, otherwise you may lose your right to a refund (unless we failed to provide information about the payment).
8.2 Unauthorised transactions – refunds and your liability
A transaction is unauthorised if you didn’t consent to it. If a payment from your account is shown to be unauthorised, we will:
- refund the amount of the payment; and
- where appropriate, restore your account to the position it would have been in if the payment hadn’t been made, provided you’ve told us in line with Section 8.1 and you’ve met the conditions below.
Your liability before you tell us
If someone makes an unauthorised payment using a lost or stolen payment method (like your card or Online Banking details), you’ll usually only be responsible for up to £35 of those losses before you tell us, unless:
- you acted fraudulently; or
- you deliberately or very carelessly failed to keep your security details safe or to tell us promptly once you realised they were lost, stolen or misused.
If any of these apply, you may have to cover all losses from unauthorised transactions before you notify us.
Your liability after you tell us
Once you have told us about loss, theft or suspected misuse, we will refund any further unauthorized payments unless we believe you have acted without care or fraudulently.
8.3 Payments you authorised but that are higher than expected
If you authorised a payment initiated by or through a payee (for example, a card transaction at a shop or online), you may be entitled to a refund if:
- you didn’t know the exact amount when you agreed to the payment;
- you ask us for a refund within eight weeks of the payment date.
We may ask for information to assess whether these conditions are met. If we refuse your request, we’ll tell you why (unless we’re prevented from doing so by law).
TIME LIMIT – Must-know
Report issues as soon as you can and no later than 13 months after the payment date in most cases.
8.4 APP fraud – when you are tricked into sending money
Authorised Push Payment (APP) fraud happens when you authorise a payment yourself, but you’re tricked or pressured into doing so by a fraudster – for example, someone pretending to be your bank, the police, or a genuine supplier. Examples include:
- being told to move money to a “safe account”;
- paying a fake invoice or investment; or
- sending money to someone online who isn’t who they say they are.
To reduce the risk, please:
- treat unexpected emails, texts or calls asking you to move money or share security details with caution;
- independently confirm new payee details using contact information you already have (not just the details in an email or text); and
- pay attention to any warnings we or other banks display when you set up or change a payee.
If you think you’ve been a victim of APP fraud, contact us immediately. We will:
- try to stop or recall the payment where possible; and
- investigate what happened and consider whether you’re entitled to a refund under the law, regulation or any reimbursement arrangements we have in place at the time.
We will explain our decision and, if we do not refund you, we will tell you the main reasons why (unless we’re prevented from doing so by law or regulation). You can then use our complaints process if you’re unhappy with the outcome.
8.5 Incorrectly executed payments – our responsibility
We are responsible for executing payments to and from your account correctly. If we incorrectly execute a payment, we will refund the amount of the non-executed or defective payment and, where applicable, restore your account to the position it would have been in if the error had not happened.
At your request, we will make immediate efforts to trace an incorrectly executed payment and tell you the outcome.
Part C – Interest, fees and information
9. What interest, fees and charges apply to my accounts?
9.1 Where to find your interest rates and fees
The interest rates, fees and charges that apply to your accounts are set out in:
- the Tariff of Fees and Interest (including any Fee Information Document for Payment Accounts and Schedule of Fees and Charges for Non-payment Accounts); and
- the product terms for each account.
We will give you these when you open your account and whenever they change. You can also ask us for a copy at any time or find them on our website at www.fbnbank.co.uk.
9.2 How we calculate and pay (or charge) interest
We will explain in your product terms whether we pay you interest on positive balances and whether we charge interest if you borrow from us (for example, on an agreed overdraft).
Unless we tell you otherwise in the product terms:
- we calculate interest on the cleared balance in your account; and
- we calculate interest daily and pay or charge it on the dates shown in your product terms (for example, monthly or annually, or at the end of a fixed term).
For fixed term deposits, interest is usually fixed for the whole term. For other accounts, including most notice and instant access savings, interest may be variable and can go up or down over time (see 9.5 below).
9.3 Types of fees and charges you may pay
Depending on your account and how you use it, we may charge:
- account or service fees – for example, a regular account fee where this is part of the product;
- payment charges – for certain types of payment or transfer (for example, international payments, CHAPS or specialist transfers);
- card charges – for cash withdrawals or card transactions in a foreign currency;
- investigation or special service fees – for example, where you ask us to trace a payment, provide additional statements or reports, or handle complex requests; and
- early access or early closure charges – for some savings or fixed term products if we agree to let you withdraw or close early.
We will show these fees in the Tariff and/or product terms and tell you about them before or at the time you agree to the relevant account or service.
9.4 Exchange rates and currency conversion
If we convert one currency into another for you, we will use the exchange rate we set for that type of transaction at the time, together with any margin or fee described in the Tariff or product terms.
If we need to convert a payment back because it is cancelled or returned, we will use the exchange rate available when we make that reverse conversion. This means you may get back more or less than you originally paid.
9.5 Changes to interest rates, fees and exchange rates
We may change interest rates, fees and other charges for reasons such as:
- changes in laws or regulations or how they’re applied;
- significant changes in market conditions, the Bank of England base rate or other reference rates;
- changes in our costs of providing accounts and services;
- changes in our business, our products or the way we operate; or
- to make the terms clearer, fairer or more consistent.
If a change is clearly to your disadvantage, we will normally give you at least two months’ notice before it takes effect for Payment Accounts.
For Non-payment Accounts, we will follow the notice periods and methods set out in your product terms. If you do not agree with a change, you can close or switch the affected account without extra charges during the notice period, subject to any product-specific restrictions.
10. How and when will you send me statements and other information?
10.1 How often you’ll get statements
We’ll provide statements for your accounts at regular intervals. Unless the product terms say otherwise:
- for most current accounts and actively used savings accounts, we’ll usually provide a statement at least once a month; and
- for certain fixed term or limited-access savings accounts, we may provide statements less often, for example annually or at the end of the term, as described in your product terms.
You can ask us for additional or duplicate statements. We may charge a fee for this, as set out in the Tariff.
10.2 How we send statements and notices
We’ll send or make statements and other information available by one or more of the following:
- Online Banking – for example, as downloadable or printable e-statements;
- secure message or email (where we agree to do so);
- post to the most recent address you’ve given us; or
- any other method we agree with you.
If we send a notice or information electronically (for example, through Online Banking or to your nominated email address), we’ll treat it as received when it is made available or delivered. If we send it by post, we’ll treat it as received two business days after posting to a UK address, or longer if sent abroad.
For joint accounts, we may send statements and information to any one of you, and this will count as notice to all account holders, unless we’ve agreed otherwise.
10.3 Checking your statements and telling us about errors
You should carefully check your statements and any other information we send you and contact us as soon as possible if:
- there’s a transaction you don’t recognise;
- you think we’ve made a mistake; or
- something doesn’t look right.
Do not ignore unfamiliar payments – report them in time.
If you spot a payment you do not recognise or did not authorise, you must tell
us without undue delay and no later than 13 months after the payment date.
There are time limits for reporting certain errors (for example, usually within 13 months for cases of authorised push payment scam).
If you delay, you may lose your right to a refund.
If you ask, we will explain any item on your statement and investigate anything that looks wrong.
If we have made a mistake, we will correct it and, where appropriate, put your account back in the position it would have been in if the error hadn’t happened.
10.4 Other information we may send you
We’ll also send you, or make available:
- updates about changes to these General Terms, your product terms, the Tariff and interest rates;
- maturity or renewal notices for fixed term deposits and other products that have an end date;
- information we’re required to provide by law or regulation (for example, regular information on interest and fees); and
- important messages about security, fraud prevention or service changes.
Please make sure we always have the right contact details for you (see section 3.4). If you don’t tell us that your details have changed, we’ll continue to use the last details you gave us and will treat information sent there as having been received.
Check your statements – they are your record of activity.
We will send you account statements and important information regularly (for example monthly or as agreed) through online banking, email or post.
Always review them carefully – they show your transactions, fees and interest.
If anything looks wrong, contact us straight away – delays in reporting could affect your rights to a refund or correction.
Part D – Different types of customers and accounts
11. How do joint accounts work?
11.1 What is a joint account?
A joint account is an account held in the names of two or more individuals. Unless we agree otherwise, each joint account holder has the same rights to use the account and is responsible for complying with these terms.
11.2 How are joint accounts operated?
When you open a joint account, you tell us how it is to be operated (the “mandate”), for example:
- any one of you can sign or give instructions alone; or
- two or more of you must authorise certain actions together.
Unless we have agreed a different mandate in writing, we will normally act on the instructions of any one of you, including instructions to make payments or withdrawals or change certain details.
11.3 Joint and several liability
All joint account holders are jointly and individually responsible (“joint and several liability”) for anything owed on the account. This means we can ask any one of you, or some or all of you, to repay the full amount owed.
11.4 What happens if joint account holders disagree?
If joint account holders tell us they are in dispute, or we reasonably believe there is a dispute, we may require instructions to be signed or confirmed by all account holders and may limit some services until the dispute is resolved.
11.5 What happens if a joint account holder dies?
The bank should be notified as soon as possible in the event of the death of an account holder. Once notified, we may ask for documents, such as a death certificate, before updating
our records or taking any further actions.
If one joint account holder dies, the account will usually continue in the name(s) of the surviving account holder(s).
11.6 Can a joint account be changed to or from a sole account?
You can ask us:
- to change a sole account into a joint account; or
- to remove one or more joint account holders and continue the account in the name of the remaining holder(s).
We don’t have to agree and may need all account holders to sign new documentation. We may also need to carry out new checks (for example, identification and eligibility checks) before we accept the change.
If we don’t agree to a change, we may instead ask you to close the existing account and open a new one with the desired structure.
12. What else do business and SPV customers need to know?
12.1 Your authority to act and internal approvals
When you open a business or SPV account, you must tell us who is authorised to operate the account and give us any mandate or board resolutions we require. We will rely on that authority until you tell us about changes and we have had a reasonable time to update our records.
12.2 Your internal controls and responsibility for staff
You should have appropriate internal controls to help manage your accounts safely. You are responsible for the actions of your directors, partners, employees, agents and authorised signatories as if they were your own, except where the law says we are responsible.
12.3 Information we may ask for from time to time
To keep your account open and comply with our legal and regulatory duties, we may periodically ask you for updated information, such as:
- details of your ownership and control (including changes in shareholders or partners);
- information about your business activities and main sources of funds;
- your latest financial statements or management information; and
- documents confirming changes to your constitution or governance.
You must provide this information promptly and in a way that’s clear and complete. If you don’t, we may restrict or close your accounts (see Part E).
12.4 Insolvency and similar events
You must tell us immediately if you are, or are likely to become, insolvent or if an insolvency practitioner, administrator or similar officer is appointed over you or your assets. In those circumstances we may block or close your accounts and act on instructions from the relevant office-holder where the law requires.
13. How do your savings, notice and fixed term deposit accounts work?
13.1 What are savings, notice and fixed term deposit accounts?
We offer different types of savings and deposit accounts, such as:
- easy access or instant savings – you can normally pay in and withdraw money more flexibly (subject to any limits in the product terms);
- notice accounts – you must give us a set amount of notice (for example, 30, 60 or 90 days) before withdrawing or transferring funds; and
- fixed term deposit accounts – you place money with us for a fixed period (for example, 3, 6 months, 1 year or longer), usually at a fixed interest rate.
Your product terms explain which type of account you have and how it works.
13.2 Paying money in and taking money out
Your product terms explain how you can pay money in and how and when you can make withdrawals.
For notice accounts you will usually need to submit a withdrawal request and give at least the specified notice. For fixed term deposit accounts you are generally expected to keep your money in the account until the maturity date, and early withdrawals are normally not allowed or only allowed in limited circumstances.
13.3 What happens at the end of a fixed term (maturity)?
Before your fixed term deposit reaches its maturity date, we will normally send you information about the amount due, the date your term ends and your options. If you give instructions in time, we will follow them (for example, repay to a nominated account or reinvest for a new term). If you do not give instructions, your product terms explain what happens, for example moving your money into a call account or a default roll-over product.
13.4 Interest and charges specific to savings and deposits
Interest on savings and deposit accounts may be:
- fixed for the term (for many fixed term deposits); or
- variable (for many easy access or notice accounts).
Your product terms will explain:
- the initial rate and whether it is fixed or variable;
- how and when interest is calculated and paid (for example, monthly, annually or at maturity); and
- whether interest is added to the account or paid to another account.
Charges specific to savings and deposit accounts may include:
- fees for certain withdrawal methods;
- charges or interest adjustments for breaking notice periods or early closure; and
- any other charges described in the Tariff and product terms.
Joint accounts
Joint account holders share access and responsibility. Unless we agree otherwise, we will normally act on instructions from any one account holder. You are also jointly and individually responsible for anything owed on the account (we can ask any one of you to repay the full amount). If there is a dispute between account holders, we may limit services until it is resolved.
Business and SPV customers
Keep your authority and company information up to date. You must tell us
who is authorised to operate the account and provide any mandates/board resolutions we require. We may ask for updated ownership, control, and financial information from time to time—please provide it promptly, or we may restrict
or close accounts. If you are (or may become) insolvent, you must tell
us immediately.
Savings, notice and fixed term deposits
Access to your money may be restricted. Notice accounts require you to give advance notice before withdrawing. Fixed term deposits are generally expected to stay in place until maturity, and early withdrawals are normally not allowed (or only in limited circumstances). We will usually contact you before maturity with your options—if you do not give instructions, your product terms explain what happens next.
Part E – If things change or go wrong
14. When can you or I change, block or close an account?
14.1 Changes you can ask us to make
You can ask us to make certain changes at any time, for example to update your contact details, change authorised signatories, change or cancel standing orders and direct debits or close an account. For some changes we may need written instructions and supporting documents.
14.2 When we can change these terms, product terms, interest or fees
We may change:
- these General Terms and Conditions;
- your product terms;
- the Tariff of Fees and Interest; and
- the interest rates or fees on your accounts,
for reasons such as:
- changes in laws, regulation, regulatory guidance or codes of practice;
- changes in market conditions or the cost of providing our services;
- changes to our business model, products or services; or
- to make the terms clearer or more consistent.
How and when we tell you:
- For Payment Accounts (such as current accounts), if a change is clearly to your disadvantage, we’ll usually give you at least two months’ notice before it takes effect.
- For Non-payment Accounts (such as many savings and deposit products), we’ll follow the notice periods and methods set out in your product terms and any applicable regulations.
- Where a change is neutral or in your favour (for example, an interest rate increase or fee reduction), we may make it immediately and tell you shortly afterwards, for example in your statement, via Online Banking or on our website.
If you don’t agree with a change:
- you can close or switch the affected account without extra charges during the notice period (subject to any product-specific restrictions – for example, on closing fixed term deposits early); and
- if you continue to use the account after the change takes effect, we’ll treat you as having accepted the change.
14.3 When we can block, suspend or restrict an account or service
We may block, suspend or restrict an account or particular service if we reasonably believe your security details have not been kept safe, there has been or may be fraud or financial crime, we need to comply with law, regulation or sanctions, there is a dispute over who can use the account or there is a significantly increased risk you cannot or will not repay what you owe us.
Unless we are prevented by law or for security reasons, we will tell you that we have taken this action and explain why.
14.4 Your right to close an account
You can normally close an account at any time by telling us, unless your product terms say otherwise (for example, for fixed term deposits or notice accounts). You must repay any money you owe us on the account before or at the time of closure.
14.5 Our right to close an account
We can close your account and/or end our banking relationship with you by giving you at least two months’ notice, unless we are allowed to act more quickly. We may do this, for example, if you no longer meet our eligibility criteria, you have given us false or misleading information, your account has been inactive for a long period or we stop offering a product.
We may close your account immediately in certain situations, for example if we suspect fraud or criminal activity, you are in serious or persistent breach of these terms, you become insolvent or we must act to comply with law or regulation.
14.6 Dormant and inactive accounts
If you do not use your account for a prolonged period, we may treat it as dormant or inactive. This may mean we restrict what you can do with it and/or stop sending some statements. Your money still belongs to you and you can usually ask us to reactivate the account by contacting us and providing information we reasonably need.
15. Is my money protected and can you use it to repay what I owe you?
15.1 Our responsibility if you or we suffer loss
We’ll act with reasonable skill and care when providing accounts and services to you. If we don’t and you suffer loss as a direct result, we’ll be responsible to you for that loss, subject to the limits set out in these terms and in your product terms.
We won’t be responsible for losses that:
- we could not reasonably have foreseen when we entered into this Agreement with you;
- are due to events outside our reasonable control (for example, strikes, industrial action, power failures, natural disasters, pandemics, government action or failures of other suppliers); or
- are due to third parties we don’t control (for example, other banks, payment systems, ATM providers or telecommunication providers), unless the law says we’re responsible.
We also won’t be responsible for:
- any loss of profit, business, goodwill, opportunity or reputation, or
- any indirect or consequential loss,
unless the law requires otherwise. None of these limits exclude or limit any liability we can’t legally exclude (for example, liability for fraud or gross negligence on our part).
Deposit protection and set-off
Your eligible deposits may be protected by the FSCS (up to the applicable limit).
If you owe us money, we may use money from your accounts with us to repay what you owe (this is called set-off).
What is Set-off?
If you owe us money, we may use money in one of your accounts with us to repay that debt, where the law allows.
We will usually tell you before we do this, unless we are legally prevented or it would increase the risk the debt is not repaid.
15.2 Our right of set-off and combining accounts
If you owe us money (for example, because of an overdraft, loan, charge or any other amount due under this Agreement or any other agreement with us), we can use money we hold for you in your accounts with us to reduce or repay what you owe. This is called our right of set-off.
We can:
- combine your accounts or move money between them; and/or
- use balances in any account in your name (including joint accounts, where the law allows) to pay what you owe under any account or agreement.
We’ll usually give you advance notice before we use set-off, unless:
- we reasonably believe doing so would increase the risk that the money will not be repaid; or
- we’re not allowed to give notice (for example, because of a court order or to comply with law).
We won’t exercise set-off against:
- any money we’re holding for you in breach of our obligations; or
- any account where the law or regulation prevents us from doing so.
If you hold accounts jointly with someone else, we may use money in those joint accounts to pay what any one of you owes us on other accounts, where your obligations are joint and several.
15.3 How your money is protected (FSCS)
Eligible deposits with FirstBank UK are protected by the Financial Services Compensation Scheme (FSCS) up to the applicable limit per eligible depositor, per authorised firm. The limit applies to the total of your eligible deposits with us, not to each account separately.
For joint accounts, each eligible account holder has a separate limit. Some non-personal customers (such as certain small businesses and charities) may also be eligible. You can find more information, including current limits and eligibility details, on the FSCS website (www.fscs.org.uk).
16. How do you use my information, and what if I’m unhappy?
16.1 How we use your information
We use information about you (and, where relevant, about owners, controllers, representatives and authorised users) to:
- open, manage and operate your accounts and services;
- carry out payments and other transactions;
- manage our relationship with you (for example, sending statements and updates);
- meet our legal and regulatory duties, including anti-money laundering, sanctions, fraud and financial crime checks;
- manage risk within our business; and
- where permitted, to offer you products and services that may be of interest.
Our full Privacy Policy explains in more detail:
- what personal data we collect;
- the legal bases we rely on;
- what we use your data for;
- who we share it with; and
- your rights in relation to your data.
You can find our Privacy Policy on our website (on fbnbank.co.uk) or ask us for a copy at any time (see section 1.2)
16.2 Who we share your information with
We may share your information with:
- other FirstBank UK group companies;
- service providers who help us deliver our services (for example, IT and payment processing providers, printing and mailing firms);
- credit reference agencies and fraud prevention agencies;
- regulators, tax authorities, law enforcement and other public bodies, where we’re allowed or required to do so;
- other banks and payment service providers involved in processing your transactions; and
- other third parties where you’ve asked or authorised us to share your information (for example, your professional advisers).
Where we share data with suppliers or partners, we’ll ensure they protect your information appropriately and only use it in line with our instructions and applicable law.
We may transfer information to organisations in other countries, including outside the UK. Where we do, we’ll make sure there is an appropriate level of protection in line with data protection laws.
16.3 Your data protection rights
Under data protection law, you have rights in relation to your personal data, including:
- the right to access the personal data we hold about you;
- the right to ask us to correct inaccurate or incomplete information;
- the right to ask us to delete your data in certain circumstances;
- the right to ask us to restrict or object to certain processing;
- the right to ask us to transfer your data to you or another provider in a usable format (data portability), where applicable; and
- the right to withdraw consent where we rely on consent (for example, for certain types of marketing).
There may be legal or regulatory reasons why we can’t always agree to your request, but we’ll explain our decision if we refuse.
You also have the right to complain to the Information Commissioner’s Office (ICO) or any other relevant data protection authority. Details are in our Privacy Policy.
Your data, your control
We only share your information when we need to (to run your account, prevent fraud, or meet legal/regulatory obligations) and with trusted organisations who must protect it.
You can also see what we hold, ask us to correct it, and in some cases request deletion/restrictions or move it to another provider.
If you are unhappy, you can raise it with us or the ICO.
16.4 If you’re unhappy – how to complain
If something goes wrong or you’re unhappy with our service, please let us know so we can try to put things right.
Step 1 – Contact us
- Contact your Relationship Manager (if you have one); or
- contact our Client Services Group using the details in your welcome information or on our website.
- You may use the details in section 1.2, page 3 of these terms
Step 2 – Our response
We will:
- acknowledge your complaint;
- investigate what happened; and
- aim to resolve it as quickly as we reasonably can.
We will send you a clear response explaining:
- what we’ve found;
- any action we’ve taken or propose to take; and
- how you can escalate matters if you’re still unhappy.
If we can’t resolve your complaint quickly, we’ll keep you updated.
16.5 If we can’t resolve your complaint – the Financial Ombudsman Service
If you are still unhappy after we’ve given you our final response (or if we don’t send a final response within the timescale required by regulation), you may be able to refer your complaint to the Financial Ombudsman Service.
This is a free, independent service that looks at complaints about financial services. Whether you can use it will depend on:
- your status (for example, consumers and some small businesses are covered); and
- the nature of the complaint.
We’ll give you full details, including the Ombudsman’s contact information and the relevant time limits (currently usually six months from our final response), in our final response letter and on request.
| Term | What it means |
|---|---|
| Account | Any account you hold with us – for example, a current account, call account, instant savings account, notice account or fixed term deposit account. |
| Agreement | The overall contract between you and us for an account. It includes these General Terms and Conditions, the product terms for your account, the Tariff, and any extra conditions we agree with you (such as notice periods or minimum balances). |
| APP fraud (Authorised Push Payment fraud) | When you authorise a payment yourself (usually a bank transfer) but you are tricked into doing it by a fraudster – for example, you are told to move money to a “safe account” or given fake bank details for a bill or investment. |
| ATM (cash machine) | A machine you can use with your debit card to withdraw cash and, in some cases, check balances or carry out other simple services. Some ATMs may charge their own fees. |
| Business Account | An account we open for a business, company, partnership, SPV or other non-personal customer, rather than for an individual’s personal use. |
| Business day | A day when banks are normally open for business in the England and Wales – usually Monday to Friday, not weekends or England and Wales bank holidays. We use this to work out payment times, interest and notice periods. |
| Call Account | A Non-payment Account (savings account) where you can usually pay money in and take it out without giving notice, subject to the product terms. It’s for money you want easy access to, not day-to-day spending. |
| Cleared balance | The money in your account that is fully available to use. It does not include cheques that haven’t cleared yet or card payments that have been authorised but not yet taken from your account. |
| Client Services Group | The team you can contact for help with your accounts and services (for example, to ask questions, report issues or update details). Their contact details are in Section 1. |
| Consumer | An individual using an account mainly for personal reasons – not for a trade, business or profession. |
| Current Account | Your day-to-day Payment Account with us. You can receive money (like income), make payments, and move money between accounts from here. It is currently our only Payment Account under these terms. |
| Cut-off time | The latest time in a business day when we treat a payment instruction as received that day. Instructions received after the cut-off time, or on a non-business day, are treated as received on the next business day. |
| Debit card | A card linked to your account that you can use to pay for goods and services, or take out cash at ATMs. Payments come directly from your account balance (or any agreed overdraft). |
| Distance contract | An agreement you make with us without meeting us face-to-face – for example, by phone, online or by post. Some extra cancellation rights may apply. |
| Direct debit | A regular payment where you allow a company or organisation to take different amounts from your account on dates they agree with you (for example, utility bills). They ask us for the money each time. |
| Fixed Term Deposit Account | A Non-payment Account where you agree to keep your money with us for a set time (the fixed term). You normally can’t take money out during this time, except in limited cases in the product terms. |
| FSCS (Financial Services Compensation Scheme) | The UK scheme that may protect your eligible deposits if we cannot meet our financial obligations. If that happens, you may be able to claim compensation up to the current FSCS limit. |
| Instant Savings Account | A Non-payment Account that lets you save and usually access your money without notice, subject to the product terms. It isn’t designed for everyday payments. |
| Joint account | An account held in the names of two or more people. Each person can normally use the account (as the mandate allows). All account holders are responsible for any money owed on the account. |
| Joint and several liability | For a joint account, each account holder is responsible both together and individually for all money owed on the account. We can ask any one, some or all of you to pay the full amount. |
| Mandate | The instruction you give us that tells us who is allowed to give us instructions on an account and any signing rules that apply. We rely on the mandate when deciding whether to act on a payment or other instruction. |
| Non-payment Account | An account mainly used for saving or holding money, not for everyday payments. Our Non-payment Accounts are the Call Account, Instant Savings Account, Fixed Term Deposit Account and 30/60/90 Day Notice Accounts. |
| Notice Account (30/60/90 Day Notice Account) | A Non-payment Account where you must give us a set period of notice (for example, 30, 60 or 90 days) before you can withdraw some or all of your money. It’s for money you don’t need straight away. |
| Notice period | The minimum amount of time you must give us in advance before we allow you to withdraw money from a Notice Account without extra costs or loss of interest. The exact period is in the product terms. |
| Online Banking Service | Our secure internet service that lets you view your accounts, see statements and give us payment instructions through a browser (and, if available, a mobile app). |
| Overdraft | When we allow you to take more money from your account than you have in it (or beyond an agreed limit). This is borrowing. You may pay interest and fees on any overdraft, as shown in the product terms and Tariff. |
| Payment Account | An account used for everyday payments and withdrawals, such as receiving income and paying bills. Under these terms, our Current Account is the only Payment Account. |
| Payment instrument | Something you use to make a payment – for example, a debit card, security device or Online Banking credentials. |
| Relationship Manager | A member of staff who may be assigned to look after your relationship with us, especially for higher-value or business customers. They are often your first point of contact for queries and support. |
| Security details | Any details or devices we give you or you choose to keep your account safe and to confirm it’s you. Examples include passwords, PINs, security codes, memorable information and security tokens. |
| Set-off (right of set-off) | Our right to use money in one of your accounts with us (or within the First Bank Group, where applicable) to pay off money you owe us on another account, in line with these terms. |
| Small Business Customer | A business customer that employs fewer than 10 people and has an annual turnover and/or balance sheet total of no more than EUR 2 million, or another small organisation we treat in a similar way. |
| Standing order | A regular payment where you tell us to send a fixed amount from your account to another account on fixed dates (for example, rent). You control the amount and the payment dates. |
| Tariff | Our main list of fees and charges (and for some accounts, interest information). It includes the Fee Information Document for Payment Accounts and the Schedule of fees and charges for Non-payment Accounts. |
| Third-Party Provider (TPP) | A company you allow to access your account online, such as an Account Information Service Provider (AISP) or Payment Initiation Service Provider (PISP). They must be properly authorised or regulated. |
| Third-party mandate | A form you sign to let someone else – for example, a family member or carer – operate your account on your behalf. You can cancel it by telling us in writing. |
| Value date | The date we start paying interest on money paid into your account or start charging interest on money taken out. It may be different from the date the transaction shows on your statement. |