Terms for Ulster Bank Limited Foreign Currency Accounts

1.1 Foreign Currency accounts can only be opened for existing Ulster Bank Limited customers who maintain a Branch account.

1.2 The Customer may make and receive payments on the Foreign Currency Current Account.

1.3 A Foreign Currency Call Deposit Account should not be operated as a current account.

1.4 Domestic Direct Debits and Standing Orders cannot be set up on Foreign Currency Accounts.

1.5 SEPA direct debits can be set up on a Foreign Currency Current Account. The Euro value of a direct debit will be converted to the currency of the Customer's Foreign Currency Current Account at the exchange rate on the day of settlement. Please contact your Branch, Business Centre or Relationship Manager or view the Bank's website for details of the exchange rate used.

1.6 The Bank can decline to open an account or refuse to accept a deposit.

1.7 You must take all reasonable steps to keep all account information and security details secret at all times.

1.8 The Customer may be asked to quote their IBAN and BIC reference (appearing on Customer statements) in order to send/receive a payment to/from other countries.

2.1 Instructions on an Account must be given in accordance with the application form for the Account or the Customer's Branch form held by the Bank.

2.2 If the Customer wants to cancel a cheque, the Customer will notify the Bank, before the payment is debited providing the cheque number, Account Number, amount, name of payee and date. If the Customer wants to cancel a SEPA direct debit, the Customer will notify the Bank in writing unless otherwise agreed by the Bank, at least one Business Day before the payment is due to be debited providing the name of the Creditor, the amount (in euro) and the frequency. The Customer cannot cancel any other payments once received by the Bank.

2.3 The information required to make a payment is set out in the "Schedule of Services - Payment and International Charges" brochure which is available on the Bank's website.

2.4 Customers who use the Bank's electronic banking product can submit payment instructions electronically. By logging on to the Bank's electronic banking service, the Customer consents to all instructions made during that log-in session. All other payment instructions must be submitted with a completed Payment Application Form available at all Branches, Business Centres or from your Relationship Manager and the Customer consents to all instructions made through the submission of a completed Application which is in accordance with the authority held by the Bank.

2.5 The time of receipt will be the time the Bank receives the Customer's instructions rather than the time that the Customer sends them. Instructions received on a non-Business Day, or after the notified cut-off time for receiving an instruction, will be treated as received on the next Business Day. Instructions for future dated payments will be treated as received on the date for payment, or if this is not a Business Day, on the following Business Day. Details of the cut-off times are available in the Bank's "Schedule of Services - Payment and International Banking Charges" brochure which is available on the Bank's website.

2.6 When the Bank receives instructions to make a payment in the European Economic Area (EEA) and in an EEA currency, the Bank will credit the institution which holds the payee's account:

a. if the instruction is electronic, by the end of the third Business Day following the day on which the Bank received the instruction

b. if the instruction is a SEPA payment, by the end of the Second Business Day following the date on which the Bank received the instruction and for SEPA direct debits, on the Business Day on which the payment is scheduled to be debited from the Account;

c. for all paper initiated instructions, by the end of the fourth Business Day following the day on which the Bank received the instruction.

For payments outside the EEA or in non-EEA currencies, different execution times may apply. The Bank will provide further information on request.

2.7 The Bank may refuse to process the payment if the Customer does not provide it with the information required to process a payment, the details provided by the Customer are incorrect or incomplete, the Bank believes the request is unauthorised or fraudulent, the Customer has not paid the required fees, it would be unlawful for the Bank to process the payment, the Account is no longer in operation, there are insufficient funds in the Account to process the payment or the request would result in the Customer exceeding its balance on the Account.

2.8 If the Bank refuses to process a payment, including credit transfers, SEPA direct debits or future dated cheques, unless there is a security or other legal reason not to, the Bank will notify the Customer by email or by phone or by writing to it and if possible give the Bank's reasons for doing so.

2.9 Details of any limits on payments which may impact charging are available in the "Schedule of Services - Payment and International Banking Charges" brochure which is available on the Bank's website.

2.10 Further details on the payments services available on an Account are set out in the "Schedule of Services - Payment and International Banking Charges" brochure.

3.1 Payments to an Account will be credited to the Account on the Business Day on which the Bank receives the payment once the payment is received within the cut-off time. Details of the cut-off times are set out in the Bank's "Schedule of Services - Payment and International Charges" brochure which is available on the Bank's website.

4.1 Cheques paid to an Account have to be cleared. The Customer's Branch, Business Centre or Relationship Manager will, on request, provide details of how the clearing system works. The Bank will ignore uncleared credits to calculate balances and interest.

4.2 Only cheques issued in the currency of the Account will be accepted for lodgement to the Account. Sterling cheques should be lodged to the Customer's Branch account and if necessary a payment should then be made from the Branch account to the Foreign Currency Account.

4.3 Items presented to the Account that are subsequently discovered to be fraudulent or the subject of forgery may be debited from the Account at any time and appropriate charges will be debited as if the item was returned unpaid.

4.4 If a cheque drawn on a bank located in the United States is returned unpaid, the original unpaid USD cheque may not be returned to the Bank. Instead, an image or substitute cheque may be returned. This does not affect the Customer's rights, as the substitute cheque is designed to be processed in the same manner in which the original is processed.

4.5 The Bank does not take responsibility for any late unpaid items caused due to late delivery or failure to deliver cheques by the Bank's nominated courier and/or any postal services.

4.6 The Bank may refuse to accept for credit to the Account any cheques or other items that are not clearly payable to the Customer or for any other reason.

5.1 The Customer may close their Account at any time by reducing the balance to zero, paying any accrued interest and charges and instructing the Bank in writing to close the Account.

5.2 The Bank may require the Customer to close an Account. In this circumstance, the Bank will normally write and give at least 60 days' written notice. However, the Bank may close an Account immediately on notice to the Customer if there is a material or persistent breach of this Agreement or in extreme or exceptional cases. The Bank does not have to give a reason for its decision.

5.3 Where the Customer or the Bank serve notice to close an Account, this Agreement will continue to apply until any cheques and other amounts pending or outstanding on the Account have been settled in full. The Bank shall be entitled at any time thereafter to convert to Sterling at the prevailing market rate of exchange applicable at the date and time of such conversion any balance on the Account which is in a currency other than Sterling. The Bank will provide the Customer with details of the applicable exchange rate.

5.4 The Agreement will remain in place until closed by the Customer or the Bank in accordance with the Agreement.

6.1 The Bank may apply charges for the use of an Account and for services provided to the Customer and shall be entitled to debit the Account for these charges. The charges, including those for the most common services, are detailed in the Bank's "Schedule of Services - Payment and International Banking Charges" brochure, available from the Customer's Branch, Business Centre or Relationship Manager. Details of other services are also available.

6.2 Charges for Accounts may be set and charged in Sterling, in the currency of the Account or may be set in one currency and charged in another.

6.3 The Bank may apply new or revised charges. The Bank will notify the Customer at least 60 days before any change is introduced. If the Customer is not happy with the increased charge, the Customer can close the Account in accordance with the Agreement.

6.4 The Bank will notify the Customer of any accrued debit interest on an Account at least 10 days before it is debited from the Account.

6.5 Where a payment is received and is to be converted to another currency, the exchange rate will be determined at such time and the Customer can obtain details of the exchange rate on the foreign exchange board in the Bank's branches and on the Bank's website. The Bank may vary the exchange rate immediately and without notice to the Customer.

6.6 Where a payment is to be made in a different currency to that in the Account, the Bank will agree the exchange rate with the Customer before the payment is made.

7.1 An overdraft may only be provided on a Foreign Currency Current Account. The Customer may request an overdraft (an "Arranged Overdraft") by contacting their Branch, Business Centre or Relationship Manager. If the Bank agrees, the details applying to the overdraft including the interest rate will be set out in the facility letter between the Bank and the Customer. If there is any conflict between the terms of the overdraft facility letter and these terms and conditions, the facility letter provisions will override these terms and conditions.

7.2 The Bank may refuse a withdrawal which would overdraw an Account, unless there is an overdraft agreement. If the Bank does allow that withdrawal:

a. it will treat the instruction as an informal request for an unarranged overdraft (an "Unarranged Overdraft").

b. it does not mean the Bank will allow another similar withdrawal.

c. the Customer will repay the overdrawn amount on demand and the Bank is hereby authorised to debit the Customer's Branch account for such amounts notwithstanding the fact that this may cause a debit balance to occur on the Branch account.

7.3 The Customer will pay interest on any overdrawn amount at the Bank's unarranged borrowing rate (the "Unarranged Borrowing Rate"). The Unarranged Borrowing Rate from time to time will be included in the "Schedule of Service - Payments and International Banking charges" which is available from any Branch, Business Centre and on the Bank's website (www.ulsterbank.com). The Unarranged Borrowing Rate will be set at a fixed margin above the relevant reference rate for the relevant currency (e.g. three month EURIBOR where the Account is denominated in Euro). Details of the reference rates for all currencies can be obtained on the Bank's website (www.ulsterbank.com). Interest will be applied on the daily balance of any amount overdrawn and will be charged to the Account monthly. The Unarranged Borrowing Rate may be varied by the Bank immediately without notice if the change will benefit the Customer or if the reference rate on which the Unarranged Borrowing Rate is based changes and the Unarranged Borrowing Rate is changed accordingly.

7.4 The Bank will give the Customer not less than 60 days' notice of any other change in the Unarranged Borrowing Rate by writing to the Customer and putting a notice on the Bank's website (www.ulsterbank.com). Details of the current rates may be obtained from the Customer's Branch, Business Centre or Relationship Manager and on the Bank's website (www.ulsterbank.com)

7.5 Charges may be applied for Unarranged Overdrafts or where the Bank returns an item unpaid. See Section 6 for details of charges and how these charges might be changed.

8.1 There is no administration fee for a Foreign Currency Call Deposit Account however a minimum balance must be kept in the Account at all times (details of minimum balances are available at Branch, Business Centre or from your Relationship Manager). A Foreign Currency Call Deposit account should have a minimal number of transactions. If the Account goes below the minimum balance or has many transactions, an administration fee may be charged and details of this administration fee are contained in our "Schedule of Services - Payment and International Banking Charges" brochure.

8.2 Credit interest accrues on the day-to-day cleared balance on Foreign Currency Call Deposit Accounts and is credited to the account monthly. Any credit interest payable on Foreign Currency Call Deposit Accounts will be paid at the prevailing Foreign Currency Call Deposit Account rate, details of which will be set out in the letter sent to you by your Relationship Manager when you open your account and on the Bank's website (www.ulsterbank.com). The Customer agrees that the Bank may change the interest rate immediately and without notice if the change will benefit the Customer or if the interest rate is based on the Euribor (or other equivalent publicly available Reference Rate for non-euro currencies) and the change is made to follow those rate changes. The Bank will give not less than 60 days' notice of any other interest rate change by writing to the Customer and by putting a notice on the Bank's website (www.ulsterbank.com). Details of current interest rates can be obtained from the Customers' Branch, Business Centre or Relationship Manager and on the Bank's website (www.ulsterbank.com). Details of the rates applicable for the statement period will be printed on the statement. Alternatively you can visit the British Bankers Association webpage on www.bbalibor.com for information on Euribor or equivalent rates. Interest may not be paid during periods of currency instability.

8.3 All queries and transactions on Foreign Currency Call Deposit Accounts must be dealt with through your Branch, Business Centre or Relationship Manager.

8.4 The Financial Services Compensation Scheme, set up under the Financial Services and Markets Act 2000, may cover your account. The FSCS is mainly available to private individuals although some small businesses are covered. Larger businesses are generally excluded. For money held in a bank or building society in the UK, the scheme will cover up to the greater of £50,000 or €50,000 of your claim. Deposits in all currencies are treated the same. Private individuals and small business client funds may be covered. For further information on the conditions governing compensation and details on how to apply please refer to the FSCS at www.fscs.org.uk.

The Bank may change any of these Terms. The Bank will give 60 days' written advance notice of the changes made. If the Customer is not happy with the changes, it can immediately close its Account without charge in accordance with the Agreement. If the Customer does not contact the Bank about closing its Account by the end of the notice period, the Bank will assume the Customer agrees to the changes.

When the Bank opens the Customer's Account, it will write to the Customer with its Account number. If the Customer (or one of the Customers in the case of a joint Account) is not happy with its choice of Account, the Customer (or one of the Customers) may cancel it within 14 days of receipt of the account number by confirming its decision in writing addressed to its branch. If the Customer does so the Bank will give the Customer back all the money it has deposited in the Account along with any interest it has earned. The Bank will ignore any notice period and any extra charges for withdrawing funds early; this would not apply if the interest rate on the Account depends on rises and falls in financial markets outside the Bank's control, or is fixed-rate.

11.1 The Bank is not liable for any loss arising from abnormal or unforeseeable causes beyond the Bank's control, the consequences of which would have been unavoidable despite all efforts to the contrary.

11.2 To the extent permissible by law, the Bank is not liable for any indirect or consequential loss.

11.3 If the Customer is a Protected Customer, the Bank is responsible for executing payments sent from and received to the Account correctly. Unless the Bank can prove the payment was correctly received, the Bank shall without undue delay recredit the amount of the payment, together with any charges, interest and other sums debited to the Protected Customer's Account so that it is restored to the state it would have been in had the defective payment not taken place.

11.4 The Protected Customer is not entitled to a refund under Condition 11.3 if it provided the Bank with incorrect payment details and the Bank used these to execute the payment.

11.5 The Bank is responsible for payments debited to a Customer's Account which were not authorised by the Customer in accordance with this Agreement. It will immediately restore the Customer's Account to the state it would have been in had the unauthorised payment not taken place.

11.6 The Protected Customer (and in the case of SEPA direct debit payments, all Customers) will only be entitled to a refund in respect of an unauthorised or incorrectly executed payment only if the Protected Customer notifies the Bank in writing without undue delay and no later than 13 months after the payment was debited to the Account. For all other Customers, notification must be made no later than 2 months after the payment was debited to the Account.

11.7 If the Customer is a Protected Customer, the Bank may be liable for an authorised payment initiated by the payee if the following conditions are satisfied:

a. when given, the authorisation did not specify the exact payment amount;

b. the amount of the payment transaction exceeded the amount that the Customer would reasonably have expected (other than as a result of exchange rate fluctuations), taking into account the Customer's previous spending pattern, this Agreement and the circumstances of the case; and

c. the request for a refund is made within 8 weeks from the date the payment is debited from the Protected Customer's Account.

11.8 For SEPA direct debits, the Bank may be liable to any Customer for an authorised direct debit if the request for a refund is made within 8 weeks from the date the payment is debited from the Customer's Account.

11.9 The Customer must provide the Bank with the information necessary to show that condition 11.7 applies if the Bank requests this. If the condition is satisfied, the Bank will either refund the Customer with the full amount of the payment or provide it with reasons for refusing the request within ten Business Days of the request for a refund.

11.10 The Customer must comply with any security measures required by the Bank to keep any personalised security details safe.

11.11 On becoming aware of the loss or theft of personalised security details, the Customer must notify the Bank without undue delay by telephone and in writing. The Customer is not liable for any losses from the use of security details arising after the Customer has notified the Bank that they have been lost or stolen.

11.12 The Protected Customer is liable up to a maximum of £50 for any losses incurred in respect of unauthorised payment transactions arising:

a. from the use of a lost or stolen payment instruments: or

b. where the payer has failed to keep the personalised security features of the payment instrument safe from the misappropriation of the payment instrument.

11.13 The Protected Customer is liable for all unauthorised payments:

a. if it has acted fraudulently;

b. if it fails to notify the Bank of the loss, theft, misappropriation or unauthorised use of any account or security details.

11.14 The Bank may refuse to process a payment instrument, including credit transfers, SEPA direct debits or future dated cheques, on reasonable grounds relating to the security of the payment instrument, the suspected unauthorised or fraudulent use of the payment instrument, or in the case of a payment instrument with a credit line, a significantly increased risk that the Customer may be unable to fulfil its liability to pay. Unless there is a security or other legal reason not to, the Bank will notify the Customer by email or by phone or by writing to it and if possible give the Bank's reasons for doing so. If the reasons for the blocking of the payment instrument no longer apply, the Bank will either allow the use of the payment instrument or will replace it with a new payment instrument as soon as practicable after the reasons for stopping its use cease to exist.

11.15 At the request of the Customer, the Bank will make efforts as soon as reasonably practicable to trace an incorrectly executed payment and notify the Customer of the result. Where the Customer is a Protected Customer, the Bank will make immediate efforts to do so.

11.16 The Customer is not entitled to a refund in any of the circumstances set out in this Condition 11 or any of the protections provided for under the Payment Services Regulations 2009 for payments from or to accounts with an institution outside the EEA or where the payment is made or received in a non-EEA currency.

11.17 If the Customer is not a Protected Customer, it agrees that the Bank is not required to provide the Customer with the information under, or to comply in any other respect with Part 5 of the Payment Services Regulations 2009.

11.18 This Condition 11 and the liability provisions in it do not apply to payments by paper cheque or bank draft.

12.1 The laws of the Northern Ireland apply to this Agreement and the Courts of Northern Ireland shall have exclusive jurisdiction.

12.2 These Terms and Conditions are written in English and all the Bank's communications will be in English.

12.3 If the Customer changes its name and address it must inform the Bank immediately. All statements, demands, notices and other correspondence will be sent to the most recent address the Customer has advised the Bank of in writing and provided the Bank sends it to that address this will be considered effective service of any notice or demand which the Bank may require to serve on the Customer.

12.4 In the event of the Customer's death or incapacity all payments made by the Bank will be valid and binding on the Customer and its estate if made prior to the receipt by the Bank of written notice of such death or incapacity.

12.5 In the case of a partnership, each partner can be held fully responsible for any debt on the Account. This is known as 'joint and several' liability. In the event of the Bank receiving notice that any person has ceased to be a partner of the firm by death, bankruptcy, retirement or otherwise, the Bank may treat the surviving continuing partners or partner as having full power to carry on the business of the firm and may deal with its assets as freely as if there had been no change to the firm.

12.6 Information on payments into and out of an Account will appear in the Customer's statement, which the Bank will provide to the Customer by post on a regular basis (as agreed between the Bank and the Customer) and may also be made available at least once a month at the request of the Customer.

12.7 If the Customer has a joint Account, it will have joint and several liability for any indebtedness on the Account and the Bank will (unless the Customer instructs the Bank otherwise in writing) accept instructions authorising account withdrawals signed by any of the Customers. If the Bank instructs the Customer in writing that more than one of the Customers requires to give any instruction on the Account, the Customer will generally have to give the Bank future instructions relating to the Account in writing, and not e.g. over the telephone. If one of the Customers dies, (unless the Customer instructs the Bank otherwise in writing) only the survivor or survivors will be recognised as having any right to the money in the Account and the Bank will accept instructions authorising account withdrawals signed by the survivor or any one of the survivors.

Who we are

We are a member of The Royal Bank of Scotland Group (the Group). For information about our group of companies please visit www.rbs.com and click on 'About Us', or for similar enquiries please telephone 0044 131 556 8555 or Textphone 0845 900 5960.

How we use your information and who we share it with

Your information comprises all the details we hold about you and your transactions, and includes information obtained from third parties.

1.1 We may use and share your information with other members of the Group to help us and them:

1.1.1 assess financial and insurance risks;

1.1.2 recover debt;

1.1.3 prevent and detect crime;

1.1.4 understand our customers' requirements; or

1.1.5 develop and test products and services.

1.2 We do not disclose your information to anyone outside the Group except:

1.2.1 where we have your permission; or

1.2.2 where we are required or permitted to do so by law; or

1.2.3 to credit reference and fraud prevention agencies and other companies that provide a service to us or you;or

1.2.4 where we may transfer rights and obligations under this agreement; or

1.2.5 as set out in 1.3.

1.3 We may disclose your information to government entities or regulatory bodies in order that those entities may discharge their responsibilities and obligations or exercise their powers or functions.

1.4 We may transfer your information to other countries on the basis that anyone to whom we pass it provides an adequate level of protection. However, such information may be accessed by law enforcement agencies and other authorities to prevent and detect crime and comply with legal obligations.

1.5 From time to time we may change the way we use your information. Where we believe you may not reasonably expect such a change we shall write to you. If you do not object to the change within 60 days, you consent to that change.

1.6 If you would like a copy of the information we hold about you, please write to your branch or Relationship Manager. A fee may be payable.

We may make periodic searches at credit reference agencies and will provide information to the Group to manage and take decisions about your accounts. This may include information about how you manage your account including your account balance, credit limit and any arrears. We will also provide this information to credit reference agencies who may make this information available to other organisations so that they can take decisions about you, your associates and members of your household. The information may also be used for tracing purposes.

If false or inaccurate information is provided and fraud is identified or suspected, details may be passed to fraud prevention agencies. Law enforcement agencies may access and use this information.

We and other organisations may also access and use this information to prevent fraud and money laundering, for example when:

• checking applications for, and managing credit or other facilities and recovering debt;
• checking insurance proposals and claims;
• checking details of job applicants and employees.

We, and other organisations that may access and use information recorded by fraud prevention agencies, may do so from other countries.

We can provide the names and addresses of the credit reference and fraud prevention agencies we use. If you would like a copy of your information held by them, please contact your branch or Relationship Manager. The agencies may charge a fee.

• If you are not satisfied with any of our products or services we have a complaint handling procedure that you can use to resolve such matters. If you wish to make a complaint please contact us. You can write to us at, Ulster Bank Group Head Office, 11-16 Donegall Square East Belfast BT1 5BU. Alternatively, you can visit or call your local branch
• If you are still not satisfied after following our procedures, you can ask the Financial Ombudsman Service, to review the complaint. Write to The Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR Consumer Helpline - 0845 080 1800 - complaint.info@financial-ombudsman.org.uk
• Calls may be recorded
• Information is correct at time of going to print
• Ulster Bank Limited is registered with the Information Commissioner's Office, Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9 5AF
• Ulster Bank subscribes to the Lending Code. The Code can be found at www.lendingstandardsboard.org.uk.
• Ulster Bank Limited is regulated by the Financial Services Authority.

The VAT number of Ulster Bank Limited is GB 243 8527 52

These Terms and conditions are also available in Braille, large print or audio or on disk. Please contact your local Branch, Business Centre or Relationship Manager for details.

These Terms and Conditions apply in respect of products and services outlined and are effective from 30th April 2010.