NetmasterGold Terms and Conditions
Overview
- NetmasterGold conditions
- NetmasterGold Saver II conditions
- NetmasterGold ISA conditions
- NetmasterGold Children's Account conditions
NetmasterGold Conditions
The NetmasterGold General Conditions below apply to use of the NetmasterGold service. Conditions also apply to each account that you operate using the NetmasterGold service. These can be found in the relevant areas of the NetmasterGold website for NetmasterGold branded accounts or, for Norwich and Peterborough branded products, in the relevant account brochure.
DEFINITIONS
These definitions apply to the NetmasterGold General Conditions and to the separate NetmasterGold Account Conditions:
• ‘Access Password’ means the NetmasterGold Access Password used by you to access your Internet Enabled Account(s) via the Service;
• ‘Account Holder’ (or you) means the person(s) in whose name(s) an Internet Enabled Account is held;
• ‘Internet Enabled Account’ means your Society current account or other Society account you access via the Service;
• ‘Rules’ means the Rules of the Society as amended or replaced from time to time;
• ‘Service’ means the NetmasterGold service which is accessed via the Internet (www.npbs.co.uk);
• ‘Society’ (or we or any related expression) means Norwich and Peterborough Building Society of Peterborough Business Park, Lynch Wood, Peterborough PE2 6WZ;
• ‘Telephone Password’ means the password agreed between you and us to enable us to provide you with certain services in relation to your Internet Enabled Account(s) over the telephone.
NetmasterGold General Conditions
In the event of any conflict between any of these NetmasterGold General Conditions and any conditions relating to any Internet Enabled Account operated using the Service, the NetmasterGold condition will apply where the Service is used.
Use of the service
1. The Service may only be used by persons aged 16 years or over.
2. You may only use the Service if you hold a Society account that is an Internet Enabled Account.
3. You may only use the Service once we have accepted your application to use it.
4. It is your responsibility to ensure that your computer hardware and software meet the minimum requirements for the Service.
5. Whilst we take reasonable care to ensure the security of, and to prevent unauthorised access to, our Internet banking service; it is your responsibility to use reasonable endeavors to keep your pc safe and secure, and to ensure that each computer you use to access the Service is free from malicious programs (viruses/trojans/spyware etc). This can be achieved by always running up-to-date anti-virus software and anti-spyware, updating your computer with the latest operating system/browser service packs and patches, and using a personal firewall. You should not access the Services from a computer that third parties have access to; for example, at work, in a library or Internet cafe.
6. You will require an Internet connection to use the Service. Your Internet Service Provider may charge for this. You may also incur telephone call charges whilst using the Service depending on the terms of your agreement with your Internet Service Provider.
7. Access to the Service will be withdrawn immediately if you close or if we close your Internet Enabled Accounts.
8. It may be an offence to import or use the encryption technology used in the Service in some countries. As the Service uses sophisticated cryptography to ensure the safe transit of data across the Internet, you should check with the appropriate authority before using the Service outside of the United Kingdom. Accessing the Service from outside the UK is at your own risk.
9. We cannot guarantee continuous, uninterrupted service. On occasions we may need to interrupt the Service to carry out maintenance of it, for other operational reasons or for reasons beyond our control. We will not, therefore, be liable to you for a failure to provide a continuous, uninterrupted service.
Payments and transfers
10. Standing orders may not be backdated or brought forward to be paid on the day of access via the Service or amended on the day which payment is due to be made.
11. It is your responsibility to ensure that any amendments to standing order or direct debit instructions are correct.
12. Payments using the payment facility cannot be made on the day of access via the Service or amended on the day when payment is due to be made.
13. Money may only be transferred to and from Internet Enabled Accounts. Transfers made between Internet Enabled Accounts usually occur on the date you action them.
14. An upper transaction limit of £10,000 applies to all payment and standing order functions.
15. A £10,000 per day transaction limit applies to all payments.
Joint accounts
16. If an Internet Enabled Account is a joint account, we will (subject to 17 below) accept instructions from any one of you via the Service, provided that a valid Access Password is used. Any one of you may instruct us in writing, at any time, that we should only accept the authority of all Account holders in relation to the operation of an Internet Enabled Account which is a joint account (in which case the Service will cease to be available in respect of that Internet Enabled Account).
17. If an Internet Enabled Account has been set up with us so that the signature of more than one Account holder is required to operate it, payments cannot be set up from that Internet Enabled Account using the Service. A mandate signed by all signatories would be required for us to set up such payments.
18. Each of you will have your own individual Access Password to access the Service.
Canceling instructions
19. Once we have accepted an instruction to make a payment, you may only cancel it if we have not already acted upon it, or if we are able to cancel the action which we have taken. If we accept your instructions to cancel a payment, we may make a charge for this.
Passwords and unauthorised transactions
20. You must keep your Access Password and selected personal information secret at all times and not permit either to become known to any other person (including Society staff), intentionally or otherwise. You must never disclose your Access Password or any other personal information relevant to the operation of the Service or any Internet enabled account in response to an e-mail, telephone or other request. We will never contact you, by any means, to ask for your Access Password, Card or any personal information required to log on to the Service or to ask for your PIN.
21. You must memorise your Access Password and not keep a record of it (even in disguised form).
22. You must immediately change your Access Password on the first occasion when you first use the Service.
23. You must notify us as soon as possible if your Access Password becomes known to, or if you think it may be known by, anyone else. A telephone service is available for this purpose on 0845 300 2808, 8am to 8pm Monday to Friday and 9am to 5pm Saturdays. An answerphone is available outside these times.
24. When contacting the NetmasterGold Helpline you will need to quote your telephone password as previously advised to us, this should be kept secret and only disclosed to Helpline staff. It is not the same as the Access Password used to access your account(s) via the Service.
25. If your Access Password is used without your consent, you will not be liable for any unauthorised transactions which take place after you have notified us under condition 23, providing that you have complied with your other obligations set out in conditions 20 to 24. If someone carries out any unauthorised transactions before you notify us under condition 23, the most you will have to pay is £50. However, if your Access Password is used with your permission, or because of your gross negligence, or because you have acted dishonestly, you will be liable for all the unauthorised transactions.
Charges
26. You will be liable for the cost of any proceedings, costs, claims, actions, demands, losses or liabilities incurred by us arising out of your failure to comply with these conditions or, where applicable, the Rules.
27. The Society will not be responsible for any costs incurred by you from any Internet Service Provider or for the cost of any telephone calls whilst using the Service.
Variations
28. We may vary these conditions by giving you at least 30 days’ notice. We will only do so:
• to reflect market conditions, general banking or building society practice; or
• where we consider this to be fairer; or
• to take account of any change in the law, regulation, code of practice, decision or announcement affecting our business, or the Service or the account or any change of working practice, technology or procedure; or
• where we consider that there is an appropriate commercial reason to do so.
29. When we change the conditions relating to the Service we will notify you about the changes at least 30 days’ before we make the change by either letter or e-mail. The notice will tell you when the change will take effect. Any accidental failure on our part to notify you of a change will not invalidate the change itself.
Termination
30. You may withdraw from the Service at any time by written notice given to the Society at its Principal Office, Peterborough Business Park, Lynch Wood, Peterborough PE2 6WZ. You will, of course, be liable for all charges and fees relating to the Service up to and including the date of withdrawal.
31. We may terminate your access to the Service by giving notice to you. We may also terminate your access to the Service, without giving notice to you, if we have a valid reason for doing so (and we will advise you of that reason).
Jurisdiction
32. These conditions shall be governed and construed in accordance with English law. You agree to submit exclusively to the jurisdiction of the courts of England and Wales in relation to the determination of any issue relating to or arising out of these conditions or your use of the Service.
Service improvements
33. We are constantly working to improve customer service and to enhance our range of products. We therefore reserve the right to develop and enhance the Service.
NetmasterGold Saver II conditions
These are the specific conditions that relate to the NetmasterGold Saver II account (the "NmG saver II account"). They should be read together with the Society's General Conditions for savings and investments and the NetmasterGold General Conditions. In the event of a difference between any specific condition of the NmG saver II account and any of the General Conditions, the specific condition will apply.
About the NmG Saver II account
The NmG saver II account is a share account of the Society. You will therefore become a shareholding member of the Society (if you are not a shareholding member already) when you open your NmG saver II account. The Society operates a permanent charitable assignment scheme.
1. You agree to be bound by the Rules as amended from time to time.
2. Your NmG saver II account will be opened on the date your application is accepted.
3. The rate(s) of interest payable on money invested in the NmG saver II account are variable and may be varied at any time in accordance with the General Conditions for savings and investments.
4. The NmG saver II account is only available to Society customers who are individuals and who will be the beneficial owner(s) of the money in the NmG saver II account. The NmG saver II account is only available to customers who are registered and eligible to use the Service.
5. Should you withdraw from the Service, or have your access to the Service terminated by us, we will close your NmG saver II account and pay the whole of the balance in the NmG saver II account together with the interest on it at the rate or rates currently being paid (less any charges or other sums due to us) to you.
6. Should you close your Society current account or have such account closed by us, we will close your NmG saver II account and pay the whole of the balance in the NmG saver II account together with the interest on it at the rate or rates currently being paid (less any charges or other sums due to us) to you.
7. The NmG saver II account must not be used for business banking purposes. The overall limit for investment in the NmG saver II account is £20,000.
8. You may only be linked to one NmG saver II account. If this is a joint account, you may not hold an additional NmG saver II account in your sole name.
9. Money may only be transferred to and from the NmG saver II account via the Service and through your Society current account (which must be an Internet Enabled Account). Access to the NmG saver II account is not available through branches of the Society, its Contact Centre or by post.
10. Interest earned on the NmG saver II account will not be credited to any other account (except in the event of closure).
11. Statements for the NmG saver II account will only be provided online using the Service. You should check the transactions on your NmG saver II account frequently and let us know as soon as you can if you have any queries.
NetmasterGold ISA specific conditions
These are the specific conditions that relate to the NetmasterGold ISA Account (the "NmG ISA Account"). They should be read together with the Society's General Conditions for savings and investments and the NetmasterGold General Conditions. In the event of a conflict between any specific condition of the NmG ISA Account and any of the General Conditions, the specific condition will apply.
About the NmG ISA Account
The NmG ISA Account is a share account of the Society. You will therefore become a shareholding member of the Society (if you are not a shareholding member already) when you open a NmG ISA Account. The Society operates a permanent charitable assignment scheme.
1. You agree to be bound by the Rules as amended from time to time.
2. The NmG ISA account will be opened on the date your first investment is made.
3. The limit for investment in the NmG ISA account is £3,000 in the tax year 2005/2006.
4. The rate of interest payable on money invested in the NmG ISA account is variable (which means that it may either go up or down) and may be varied at any time in accordance with the General Conditions for savings and investments.
5. We reserve the right to close the NmG ISA account if the required minimum investment (currently £1) is not maintained and in such circumstances to return the balance to you. We will not close the NmG ISA account without giving you at least 30 days' notice.
6. The NmG ISA account is only available to Society customers who are individuals and who are registered and eligible to use the Service. You must also be able to satisfy the declaration set out in the application form for the NmG ISA account.
7. Should you withdraw from the Service, or have your access to the Service terminated by us, we will give you 30 days' notice to close the NmG ISA account. You could transfer the investment in the NmG ISA account to another ISA manager within the notice period and we will supply you with an ISA transfer form for this purpose. If you fail to transfer to another ISA manager within the notice period, we will close the NmG ISA account and pay the balance together with any interest due on it at the rate currently being paid (less any charges or other sums due to us) in to your current account with us (if you still have one at that time). If you do not have a current account with us at that time, we will send a cheque for the same sum to you at the address we hold for you in our records.
8. Should you close your Society current account or have such account closed by us, we will give you 30 days' notice to close the NmG ISA account. You could transfer the investment in the NmG ISA account to another ISA manager within the notice period and we will supply you with an ISA transfer form for this purpose. If you fail to transfer to another ISA manager within the notice period, we will close the NmG ISA account and send you a cheque for the balance together with any interest due on it at the rate currently being paid (less any charges or other sums due to us). We will send the cheque to the address we hold for you in our records.
9. The NmG ISA account may only be operated using the Service . Access to the NmG ISA account is not available through branches of the Society, its Contact Centre or by post. Withdrawals or transfers may be made without notice.
10. You may transfer your NmG ISA account to another ISA manager using an ISA transfer form. If we transfer the investment in the NmG ISA account to another ISA manager, the transfer will be made direct from the NmG ISA account and not through any other account you hold with us.
11. Money held in an ISA managed by another ISA manager may not be transferred into the NmG ISA account.
12. Interest will be paid annually into the NmG ISA account on the 6th April.
13. If you should die, the NmG ISA account will no longer qualify as an ISA and all subsequent interest payments will be subject to tax at the appropriate rate.
14. Statements will only be provided online. You should check the entries regularly and let us know if you have any queries.
15. The money invested in the NmG ISA account must remain in your sole beneficial ownership and must not be used as security for a loan.
16. Any failure to satisfy the provisions of the ISA Regulations or a false declaration by you will result in the NmG ISA account ceasing to be an ISA and on closure the Society may deduct income tax from any interest paid. We must tell you if the NmG ISA account has, or will cease to be an ISA.
NetmasterGold Children's Account specific conditions
These are the specific conditions that relate to the NetmasterGold children's account (the " NmG children's account"). They should be read together with the Society's General Conditions for savings and investments and the NetmasterGold General Conditions. In the event of a conflict between any specific condition of the NmG children's account and any of the General Conditions, the specific condition will apply.
About the NmG children's account
The NmG children's account is not a share account and, therefore, you will not become a shareholding member of the Society on opening the NmG children's account and you will not have any associated rights. If you are already a member of the Society, your membership will not be affected by opening the NmG children's account.
1. You agree to be bound by the rules of the Society, insofar as they are applicable to depositors, as amended from time to time.
2. The NmG children's account will be opened on the date your first investment is made.
3. The rate of interest payable on money invested in the NmG children's account is variable (which means that it may either go up or down) and may be varied at any time in accordance with the General Conditions for savings and investments.
4. The NmG children's account is only available to Society customers who are registered and eligible to use the service. The NmG children's account can only be opened as a trustee account. You must be the parent(s) and/ or guardian(s) of the beneficiary (who must be a child aged under 16 years). Only one NmG children's account of this type may be opened per beneficiary.
5. If your current account is in your sole name, the NmG children's account will be opened with you named as sole trustee. If your current account is a joint account and you either do not have access via the Service to any other current accounts or you only have access to other current accounts held in your joint names, the NmG children's account will be opened with both joint account holders named as joint trustees. If your current account is a joint account, but one of you also has access via the service to another current account which is held in a sole name (the "sole named account"), you may choose:
5.1 whether to open the NmG children's account with both of the current account holders named as joint trustees; or
5.2 whether to open the NmG children's account with only you as the holder of the sole named account as trustee.
In all cases where there are joint trustees, the NmG children's account may be operated by either trustee. We regret that it is not technically possible to require the authority of both trustees for a transaction. In the event of a dispute between the trustees, please advise us as soon as possible in order that the balance may be transferred to either a branch based or postal account.
6. If you hold the NmG children's account as a sole trustee and you either withdraw from the service or have access to the Service terminated by us, we will give you at least 30 days' notice to close the NmG children's account or to transfer the balance to a branch based or postal account. If you fail to close the NmG children's account within the notice period or to transfer the balance to a branch based account or a postal account, we will close the NmG children's account and send you a cheque for the balance together with any interest due on it at the rate currently being paid (less any charges or other sums due to us). The cheque will be made payable to the trustee or trustees (as the case may be) and will be sent to the address we hold for you in our records.
6.1 If you hold the NmG children's account as a joint trustee and either one of you withdraws from the Service or has access to the Service terminated by us, we will transfer the NmG children's account into the name of the account holder that retains access to the service on a sole trustee basis. If both of you withdraw from the service or have access to the Service terminated by us, we will give you at least 30 days' notice to close the NmG children's account or to transfer the balance to a branch based account or a postal account . If you fail to close the NmG children's account within the notice period or to transfer the balance to a branch based account or a postal account, we will close the NmG children's account and send you a cheque for the balance together with any interest due on it at the rate currently being paid (less any charges or other sums due to us). The cheque will be made payable to the trustee or trustees (as the case may be) and will be sent to the address we hold for you in our records.
7. Upon the beneficiary reaching the age of 16 years, the NmG children's account must be closed. We would be pleased to advise of other accounts that are available at the time. Please note, however, that under the current tax legislation, the balance would need to be transferred to an account in the beneficiary's own name in order for them to continue to receive interest gross (subject to the required registration).
8. The NmG children's account must not be used other than as a trustee account on behalf of the named child as beneficiary. The overall limit for investment in the account is £10,000.
9. Money may be transferred to and from the NmG children's account via the service and through an Internet enabled account that is a current account. Money may also be paid in at any branch of the Society and by post.
10. Interest earned on the NmG children's account will not be credited to any other account (except in the event of closure or transfer).
11. Statements will only be provided online. You should check the entries regularly and let us know if you have any queries.