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Right of Cancellation, AGB, General Information (Distance selling)
Right of Cancellation You may cancel your contract without explanation within two weeks by providing written notice (e.g. letter, fax, e-mail). This limited time period begins at the earliest with the receipt of this information. To comply with this cancellation period, it suffices to send the notice of cancellation within the time limit. The cancellation notice may be sent to: Advanzia Bank, S.A., 9 Parc d'Activité, Syrdall, L-5365 Munsbach
Consequences of Cancellation In the case of an effective cancellation, the goods, services, or funds received by each party are to be returned and, where necessary, any usages (e.g. interest) are to be paid. If you cannot return to us that which you received, or can only return it partially or in a worsened condition, then you are obligated to reimburse the lost value to the extent possible. This can lead to a legal obligation on your part to render all contractual payments for the time period up to the point of cancellation. Obligations to reimburse payments must be fulfilled within 30 days of the sending of your notice of cancellation.
Consent to Prior Execution of Contract I accept that Advanzia shall begin the execution of this contract prior to the end of the cancellation period.
End of instructions concerning cancellation.
General information concerning the law governing distance sellingBanque Advanzia S.A. 9 Parc d'Activité Syrdall L-5365 Munsbach Tel 00352 26 38 7575 Fax 00352-26387599
R.C. Luxembourg B109476 VAT LU 20992462
General Business Conditionswww.Advanziakonto.com/AGBThe business relationship between Advanzia Bank and its clients is governed by the following General Business Conditions. The bank endorse to persons it approves instant access to deposit accounts in Euro. An individual may only apply for one such account. The account may be approved only for persons aged 18 years and older. Citizens of the United States of America are excluded. Prior to the execution of a contract for such an account, the client must provide the bank exact and legally admissible data with reference to his identity. By sending this application, the applicant affirms that he acts in his own name, on his own responsibility, and does not exercise, as an applicant, of any public office. 1. Account Management Opening, managing, and closing these accounts shall proceed without fees. This does not apply to legal, extra-legal, and necessarily incurred costs of third parties. The complete fee schedule can be downloaded at www.advanziakonto.com/preise. The bank reserves the right to set minimum and maximum account balances. Deposits to the instant access savings account will be credited daily. Account management will be done strictly on the basis of the currrent balance. If, however, the client for any reason causes the account to become overdrawn, the bank may, in accord with the existing fees, charge an overdraft fee. A fixed term is not set. Money transfers to the instant access savings account of a client may only proceed from the account of a client of a bank in the EU or EFTA. The client can at any time have access to the balance of the instant access savings account, but must inform the bank in such cases, to initiate a money transfer in his name to his account within the EU or EFTA. In the regular management of the account, the bank will only carry out money transfers to and from the account, and credit any interest in accord with the terms of the arrangement. Other dispositions of the instant savings account are not possible. It is especially prohibited, to write debits against the account balance or overdraw the account. Neither are check charges, check cashing, or check collection allowed. The client may not credit his Advanzia account using charges against the no-fees Gold Card. 2. Interest Payments in Euro will accrue interest beginning on the day of the deposit or transfer to the account or the next business day. Withdrawals in Euro will accrue no further interest beginning on the business day when the transaction was completed. Interest shall be compounded daily. Interest payments will be issued monthly. Interest will only accrue for the previously established minimum or maximum balance. The yield on the account will be given in the contract between the Bank and the client. The interest rate will be set by the bank on the basis of market conditions. The bank may adjust credit and debit interest to reflect variations in the rates of money markets. Changes in the interest rate will be communicated to the client in writing or by other published means. 3. Other Services The bank may attach other services free of charge to the instant access savings account. The client shall incur no charges in such cases. 4. Security All documents, account balances, or monetary claims, that are or shall be entrusted to the bank by the client, shall be considered as a matter of law and to the advantage of the bank an inseparable and preferred collateral for the completion of primary demands or claims, as well as interest payments, fees, and associated costs of all existing or future obligations or duties, and also any conditional or time-limited obligations and financial duties that the client has incurred or may incur with respect to the bank. The bank cannot be forced to abandon these claims. Should the account holder also possess a credit card issued by this bank, credits to the instant access savings account may not be made with the credit card, nor may the account balance serve as collateral for the credit card. 5. Communication of the Bank Every communication that the bank must issue may be sent in electronic form (e-mail) or placed on the bank's internet homepage. The client is therefore obliged to provide a valid e-mail address to the bank and keep it up to date. The date on the copy or the mailing list shall be considered to be the mailing date. If an official bank communication is returned to the bank with the official notice the client at the address is unknown or the addressee has moved with no forwarding address, then the bank may hold all communications with this notice as well as all further communications to the client at this address in its files. In such cases the bank's duty to communicate and inform a client shall be considered fulfilled with the filing of these communications for later distribution to the client or storage in an electronic file which can be made available to the client on request. Under such conditions, the client accepts the risk of a possible late or delayed receipt of the information so communicated. 6. Form and Execution of Contracts All orders made via telefax, telephone, e-mail, or electronic data transfer or other means shall be executed by the bank at the client's risk; the client is obligated to accept responsibility for all consequences that may arise from misunderstandings or errors due to the nature of the communication; this also applies to cases, in which such an order was issued by an unauthorized third party. For orders or contracts in which a hand-written signature was replaced by a secure, personal, electronic means of access, for example, as with the use of a PIN or identification number on a keyboard or the electronic communication of a password, this shall be considered just as legally binding as the hand-written signature of the client. The bank is entitled to assume that the account number on a payment order [or any other bank order] is correct and that it matches that of the recipient identified on the payment order. 7. Evidence The books and written documents of the bank shall be considered valid as legal evidence until proven otherwise. 8. Correcting Errors The client is obligated to demonstrate to the bank any errors that may be contained in its written documents or account statements. If no objections to information contained in bank documents or account statements are registered with the bank within 30 days of the issuing of those documents or statements, the information, except in the case of obvious material errors, shall be considered correct and considered to have been accepted as such by the client. The bank reserves for itself the right to correct any material errors it overlooked at any time. If the client received the documents, account statements, or other notices in connection with a specific business transaction outisde of the usual postal delivery times (i.e. late delivery, delayed receipt of mail), then the client is obligated to inform the bank of this at once. 9. Banking Secret, Data Protection In the context of pre-contractual and contractual relationships and all legal regulations, the bank processes personal data of the client in order to acquire the reasonable and necessary information concerning the client's identity. The client authorizes the transmission of the information in this data to the partners necessarily involved in the execution of this contract. The client thereby accepts that the bank uses these data for the fulfillment of its duties and, insofar as he does not say anything to the contrary, for the sale of its products and services. The bank may keep these data for as long as three years following the termination of the business relationship between teh bank and the client and in some cases may keep the data indefinitely. In the context of bank secrets, the bank is obligated to treat all personal data as confidential and not communicate them to third parties, as long as no special legal regulations are in force, and even then data may be shared with a third party only at the expressed direction of the client or in cases of urgent and compelling legal necessity. In accord with legal regulations the client may at any time have access to his personal data and make any necessary corrections. 10. Personal Data, Obligations Concerning Information A necessary prerequisite for the orderly course of banking is complete and up-to-date information concerning clients. The client is obligated to communicate to the bank all changes in his personal data immediately (i.e. change of address, e-mail account) and to respond to all requests from the bank for any further information required for the orderly completion of business relations with the client or which the bank needs in order to fulfill applicable legal regulations. The client is nevertheless entitled to forbid the sharing of these data with the bank or to forbid the bank to process these data electronically, in which case, however, it would be impossible to open an account or continue any existing business arrangments. The client gives the bank the authorization to record telephone conversations and electronic communications and store these recordings in whatever manner is praticable and convenient. Missing recordings or failure to properly store recordings cannot be used as an argument in a legal case. 11. Cancellation In the context of agreements or arrangements between the bank and the client for which there is no fixed time limit set, each of the parties may, at any time and free of any requirement to provide justification, end the mutual relationship with immediate effect. In the exercise of this right to cancel, the bank will show due regard for the legitimate interests of the client. The bank is in any case entitled to terminate the business relationship immediately and without prior delay, if it determines, that the client's ability to meet his financial obligations is in question, that collaterals that have been put up against liabilities will be insufficient, or that further business relations with the client could justify legal claims against it, or that the client's business dealings constitute an offense against public order, or against good ethics and practices. The termination shall have no influence on the accumulated rights and obligations of either party. 12. Limitation of the Bank's Legal Liability In general the bank is only liable in the business relationship between itself and the client in cases of base negligence or [bad] intent. The parties regard it as agreed, that a person who uses the client's personal identification data shall be treated by the bank as if he were the client. The client is liable to the bank insofar as a use of the contract has occurred without authorization. The client obligates himself, not to share any such information with third parties or, in the case of loss, to inform the bank at once. All information sent to the client is sent at his risk. The bank accepts no legal liability with respect to the personal information of a client, changes in which were not communicated to the bank. It accepts no legal liability for mistakes that occur in the course of carrying out an order in the case of defective or incorrectly assigned orders, or with respect to the consequences of counterfeit orders that are presented to it as legitimate. The bank is excluded from liability for counterfeits and defective proofs of legitimacy for submitted documents, except in cases where there is a clear case of base negligence on the part of the bank. Likewise the bank is excluded from legal liability if it fails to become aware of any lack or defect in the documents submitted to it; the bank is not obligated to examine documents for continuing validity or dates of expiration. Documents submitted by mail are submitted at the risk of the client, submitter, or recipient. The bank is not liable to foreign laws that may be prohibitive; it is the client's responsibility to ascertain whether or not the commissioning of these services is admissible according to his own national laws. 13. Cases of Inheritance In the event of the death of a client, the bank must be notified without delay by means of sending a death certificate. The death of a client will immediately effect the suspension of his account as well as the cancellation of any powers of attorney or legal authorization which the deceased may have arranged for the benefit of third parties. Should the bank receive no such notification, it accepts no legal liability for any business transactions made after the death of the client. In order to remove the suspension from the account for the benefit of the heirs or other entitled parties, the bank must first be in possession of the legal documents governing the matters of inheritance, as well as the written consent of the legally entitled parties. 14. Miscellaneous Should some of these provisions prove to be ineffective, then the legal efficacy of the remaining provisions will remain unchanged. The bank retains for itself the right to change the herein presented terms and conditions, as well as the services it offers and its fee structure, in order to fulfill the requirements of any legal or regulatory modifications, changes in the market situation, or changes in the usages of the financial branch. Such changes will be communicated to the client by an announcement on the internet service or any other means of communication that the bank regards as appropriate, for example, an announcement sent along with account statements or any other regular correspondence sent by the bank. Such changes shall be considered to have been approved by the client, if he does not register his objection in written or electronic form within a month of the announcement of the change, or does not cancel the contract. 15. Legal Notice All rights and responsibilities of the client to the bank are subject to the laws of Luxembourg, to the extent that nothing else is expressedly stated, and the competent legal authority is the district court of Luxembourg. With the reservation of possible other arrangements, the main office of the bank shall be the location of the fulfillment of all obligations of the bank to the client and the client to the bank. The client recognizes that he is alone responsible to conform to the applicable laws of his country of residence, especially with respect to the immediate consequences of the opening and maintenance of th account and the tax liabilities that result from it. The German-language edition of these terms and conditions is definitive. In the case of variations in the editions printed in other languages, it is exclusively the German text that shall be considered definitive. 06/2007 | ||||||||||||||||||||
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