Terms And Conditions
Terms and Conditions for the 60 Day Notice Account

These terms and conditions (as may be amended from time to time) apply to the 60 Day Notice Account (‘the account’) which the account holder(s) (‘you’) holds with Turkish Bank UK Ltd. (‘The Bank’, us’, our’).

1. Deposit Amount

The initial deposit and ongoing balance must be at least £1,000. The maximum balance accepted is £250,000. This may be increased at our discretion.

2. Payment of Interest

Interest Rates
Variable interest rates apply to the account. Rates may be varied for competitive or other reasons, for example as a result of regulatory changes or changed market conditions. The rate is guaranteed not to go below Base Rate. If the balance at any time falls below the minimum amount of £1,000, the interest rate will be reduced to 0.1% p.a.

Interest Calculation
Interest is calculated on a daily basis from the day funds are cleared. This means that you will earn interest after the second business day in respect of cheques received for credit of the account. Funds received by Electronic Funds Transfer (EFT) will earn interest from the date credited to your account.

Interest Payments
Interest will be paid annually on 31st December or account closure.

Interest Rate Changes
If we change the interest rate on your account we will tell you personally by letter within 30 days of the change.

3. Deposits

The initial deposit may be made either from your Bank or Building Society account by EFT or by cheque, which is required to be drawn on the account holder ‘s’ existing personal account in the UK payable to the name/s of the account to be opened by Turkish Bank (UK) Ltd.

For joint applicants your cheque should be drawn on a joint personal account in the exact names of the applicants. (If you do not have a joint account, we will require a personal cheque, drawn as above from each applicant). The same rule applies, as above, for EFT transfers.

Additional deposits must be for a minimum of £1,000. Cheques must be drawn on the account holder’s’ existing personal Bank or Building Society account. For your protection, personal cheques should be made payable to the name/s of the account to be opened by Turkish Bank UK Ltd.

4. Withdrawals

Withdrawals will be remitted direct to your nominated UK Bank or Building Society account, as advised by you on the account Application Form, or by bankers draft drawn in your name. No payments in favour of third parties or cash withdrawals will be permitted.

60 Day Notice Account withdrawals are subject to the 60-day period of notice.

5. Amendments

Requests to amend account details should be made in writing and be signed by you in accordance with the prevailing instructions. Any notice of change of name must be accompanied by appropriate evidence. (e.g. marriage certificate)

6. Statements

A Statement of the account will be provided to you within 10 business days of any interest application date. When a transaction occurs a credit/debit advice will be issued within 10 business days.

Should additional statements be requested this will be regarded as an exceptional service and we reserve the right to apply a charge of £5

7. Charges

Early repayments are subject to 60 days loss of interest on the amount withdrawn. Min. charge is £10.

8. Exceptional Service

We may at our discretion charge for services we regard as non-standard. The amount of any charge for a non-standard service will be advised to you prior to the service being provided.

9. Death of Account Holder

If a sole account holder dies, the personal representatives may close the account (upon presentation of such evidence of their authority as we may require) by withdrawing the balance of the account together with any interest accrued without notice or penalty.

If a joint account holder dies the account may continue in the name of surviving account holder. Alternatively, the survivor may elect to close the account by withdrawing the balance of the account together with any interest accrued to date without notice or penalty.

10. Variation

Any variation to these terms and conditions will be notified to the account holders in writing at least 30 days prior to making such change.

11. Notice To Close The Account

The bank undertakes not to close your account without giving you 30 days notice unless there are exceptional circumstances such as suspected fraud.

12. Cooling-Off

If you are not happy about your 60-Day Notice Account within 14 days of opening it, we will help you switch to another account or we will give all your money back with interest. We will ignore any notice period.

13. Deposit Protection Scheme

The Bank is a member of Financial Services Compensation Scheme (the Scheme) established under the Financial Services and Markets Act 2000. The Scheme has the power to compensate customers in the event of the failure of any authorised firm.

Further details of the Scheme are available from the Financial Services Compensation Scheme www.fscs.org.uk.

14. Confirming Your Identity

UK anti money laundering regulations requires that we have to ask you for proof of identity. We will not be able to open your account without the correct identification documents.

If you are already a customer of Turkish Bank UK Ltd., you do not have to provide further proof of identity or address.

If you are not a customer of Turkish Bank UK Ltd:

If your application is in your name only: We will need to see one form of original address identification document from the list below. If your application is in joint names: We will need to see one form of original address identification document for each applicant from the list below. When the surname and address given are the same for all parties to the account, there is no need to provide address verification for more than one of the parties.

Proof of Identity We need to see ONE of the following five types of documentation for each applicant.

 

  • An Original Bank Statement from the account where your initial deposit cheque has originated, dated within the last three months
  • An Original Inland Revenue Notice of Tax Coding for the current tax year
  • Original Utility Bill at your current address, dated within the last six months. Gas, electricity, water or land telephone (not mobile)
  • An Original Council Tax bill at your current address for the current tax year
  • Other Original Personal Financial Statements (credit card statement or another personal UK bank account) at your current address, dated within the last three months.
  • We will return these documents to you within five business days of receipt.

 

15. Product Availability

60 Day Notice Account is only available to investors aged 18 or over in a sole or joint basis. The account must not be used for business purposes. All account holders must be UK resident(s).

16. The Banking Code

The Bank subscribes to The Banking Code. Account Holders requiring a copy of the Banking Code can obtain one from the Banking Code Standards Boards (www.bankingcode.org.uk) or from the Bank.

17. Contracts (Rights of Third Parties)

This contract is between the Account Holder(s) and Turkish Bank (UK) Ltd. The terms of the contracts Rights of Third Parties Act 1999 and any other legal third party rights are specifically excluded. This means that only the parties to the contract (or their legal successor(s), assignee(s) or other security holders) may have contractual rights.

 

  • Turkish Bank UK Ltd is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority.
  • Turkish Bank UK Ltd. is committed to providing excellent customer service at all times. If there is concern that standards have not been met please bring this to our attention as soon as possible. A copy of the Bank’s’ Customer Complaint Procedure is available from the Bank’s’ Customer Services Department on request.
  • Turkish Bank UK Ltd. is a member of the Financial Services Compensation Scheme.
  • Turkish Bank UK Ltd. is incorporated in the United Kingdom and Registered Number is 2643004.
  • Turkish Bank UK Ltd. is registered in England and Wales having its Registered Office at 84-86 Borough High Street, London SE1 1LN.
Terms and Conditions for the 90 Day Notice Account

These terms and conditions (as may be amended from time to time) apply to the 90 Day Notice Account (‘the account’) which the account holder(s) (‘you’) holds with Turkish Bank UK Ltd. (‘the Bank’).

1. Deposit Amount

The initial deposit and ongoing balance must be at least £1,000. The maximum balance accepted is £250,000. This may be increased at our discretion.

2. Payment of Interest

Interest Rates
Variable interest rates apply to the account. Rates may be varied for competitive or other reasons, for example as a result of regulatory changes or changed market conditions. The rate is guaranteed not to go below Base Rate. If the balance at any time falls below the minimum amount of ?1,000, the interest rate will be reduced to 0.1% p.a.

Interest Calculation
Interest is calculated on a daily basis from the day funds are cleared. This means that you will earn interest after the 2nd business day in respect of cheques received for credit of the account. Funds received by Electronic Funds Transfer (EFT) will earn interest from the date credited to your account.

Interest Payments
Interest on the balance will be paid semi annually at the end of June and December or at account closure.

Interest Rate Changes
If we change the interest rate on your account we will tell you personally by letter within 30 days of the change.

3. Deposits

The initial deposit may be made either from your Bank or Building Society account by EFT or by cheque, which is required to be drawn on the account holder’s’ existing personal account in the UK payable to the account holder.

For joint applicants your cheque should be drawn on a joint personal account in the exact names of the applicants. (If you do not have a joint account, we will require a personal cheque, drawn as above from each applicant). The same rule applies, as above, for EFT transfers.

Additional deposits must be for a minimum of £1,000. Cheques must be drawn on the account holder’s’ existing personal Bank or Building Society account. For your protection, personal cheques should be made payable to the account in the name of the applicant.

4. Withdrawals

Withdrawals will be remitted direct to your nominated UK Bank or Building Society account, as advised by you on the account Application Form, or by bankers draft drawn in your name. No payments in favour of third parties or cash withdrawals will be permitted.

90 Day Notice Account withdrawals are subject to the 90-day period of notice.

Early withdrawals are not allowed.

Maximum Two interest withdrawals are allowed per annum without notice and charge.

5. Amendments

Requests to amend account details should be made in writing and be signed by you in accordance with the prevailing instructions. Any notice of change of name must be accompanied by appropriate evidence. (e.g. marriage certificate)

6. Statements

Statements will be issued semi annually, provided there has been activity in the account during the period, otherwise annually. Interest payments do not constitute account activity.

Should additional statements be requested this will be regarded as an exceptional service and we reserve the right to apply a charge of £5.

7. Charges

There are no charges to withdraw funds with notice, and no withdrawals are permitted without notice.

8. Exceptional Service

Although currently there is no charge for the service, we may at our discretion charge for services we regard as non-standard. The scale of any future charge will be advised to you prior to any service being provided.

9. Death of Account Holder

If a sole account holder dies, the personal representatives may close the account (upon presentation of such evidence of their authority as we may require) by withdrawing the balance of the account together with any interest accrued without notice or penalty.

If a joint account holder dies the account may continue in the name of surviving account holder. Alternatively, the survivor may elect to close the account by withdrawing the balance of the account together with any interest accrued without notice or penalty.

10. Variation

Any variation to these terms and conditions will be notified to the account holders in writing at least 30 days prior to making such change.

11. Notice To Close The Account

The bank undertakes not to close your account without giving you 30 days notice unless there are exceptional circumstances such as fraud.

12. Cooling-Off

If you are not happy about your 90-Day Notice Account within 14 days of opening it, we will help you switch to another account or we will give all your money back with interest. We will ignore any notice period.

13. Deposit Protection Scheme

The Bank is a member of Financial Services Compensation Scheme (FSCS) established under the Financial Services and Markets Act 2000. The Scheme has the power to compensate customers in the event of the failure of any authorised firm.

Further details of the Scheme are available from the Financial Services Compensation Scheme www.fscs.org.uk.

14. Confirming Your Identity

UK anti money laundering regulations require that we have to ask you for proof of identity. We will not be able to open your account without the correct identification documents.

If you are already a customer of Turkish Bank UK Ltd., you do not have to provide further proof of identity or address.

If you are not a customer of Turkish Bank UK Ltd:

 

  • If your application is in your name only: We will need to see one form of original address identification document from the list below.
  • If your application is in joint names: We will need to see one form of original address identification document for each applicant from the list below. When the surname and address given are the same for all parties to the account, there is no need to provide address verification for more than one of the parties.
  • Online applications: Applications made via the online application system may not require address verification documents if the applicants submit their UK passport numbers, provided that we can verify the identity electronically. We reserve the right to ask for further documentation if we are not fully satisfied with the information submitted.

 

Proof of Identity
We need to see ONE of the following five types of documentation for each applicant.

 

  • An Original Bank Statement from the account where your initial deposit cheque has originated, dated within the last three months
  • An Original Inland Revenue Notice of Tax Coding for the current tax year
  • Original Utility Bill at your current address, dated within the last six months. Gas, electricity, water or land telephone (not mobile)
  • An Original Council Tax bill at your current address for the current tax year
  • Other Original Personal Financial Statements (credit card statement or another personal UK bank account) at your current address, dated within the last three months.

 

We will return these documents to you within five business days of receipt.

15. Product Availability

90 Day Notice Account is only available to investors aged 18 or over in a sole or joint basis. This account is only available to customers via online and postal application. The account must not be used for business purposes. All account holders must be UK resident(s).

16. The Banking Code

The Bank subscribes to The Banking Code. Account Holders requiring a copy of the Banking Code can obtain one from the Banking Code Standards Boards (www.bankingcode.org.uk) or from the Bank.

17. Contracts (Rights of Third Parties)

This contract is between the Account Holder(s) and Turkish Bank UK Ltd. The terms of the contracts Rights of Third Parties Act 1999 and any other legal third party rights are specifically excluded. This means that only the parties to the contract (or their legal successor(s), assignee(s) or other security holders) may have contractual rights.

 

  • Turkish Bank UK Ltd is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority
  • Turkish Bank UK Ltd. is committed to providing excellent customer service at all times. If there is concern that standards have not been met please bring this to our attention as soon as possible. A copy of the Bank’s’ Customer Complaint Procedure is available from the Bank’s’ Customer Services Department on request.
  • Turkish Bank UK Ltd. is a member of the Financial Services Compensation Scheme.
  • Turkish Bank UK Ltd. is incorporated in the United Kingdom and Registered Number is 2643004.
  • Turkish Bank UK Ltd. is registered in England and Wales having its Registered Office at 84-86 Borough High Street, London SE1 1LN.
Specific Terms and Conditions for the One Year Fixed Term Deposit Bond

These terms and conditions (as may be amended from time to time) apply to the Two Year Fixed Term Deposit Bond Contract (‘the contract’) which the contract holder/Bond holders (‘you’) with Turkish Bank (UK) Ltd. (‘The Bank’;’we’,’us’,’our’).

1. Deposit Amount

Deposit Amount, can I amend the first sentence to read the following (it currently states two year bond).

To be eligible for a One Year Fixed Bond, you must be a UK Resident aged 18 or over and invest a minimum £5,000. The maximum amount accepted by us is £250,000 but this may be increased at our discretion.

2. Confirming Your Identity

UK anti money laundering regulations requires that we have to ask you for proof of identity. We will not be able to open your account without the correct identification documents.
If you are already a customer of Turkish Bank UK Ltd., you do not have to provide further proof of identity or address.

If you are not a customer of Turkish Bank UK Ltd:

 

  • If your application is in your name only: We will need to see one form of original address identification document from the list below
  • If your application is in joint names: We will need to see one form of original address identification document for each applicant from the list below. When the surname and address given are the same for all parties to the account, there is no need to provide address verification for more than one of the parties.

 

Proof of Identity

We need to see ONE of the following five types of documentation for each applicant.

 

  • An Original Bank Statement from the account where your initial deposit cheque has originated, dated within the last three months
  • An Original Inland Revenue Notice of Tax Coding for the current tax year
  • Original Utility Bill at your current address, dated within the last six months. Gas, electricity, water or land telephone (not mobile)
  • An Original Council Tax bill at your current address for the current tax year
  • Other Original Personal Financial Statements (credit card statement or another personal UK bank account) at your current address, dated within the last three months

 

We will return these documents to you within five business days of receipt.

Payment Of Interest

Interest Rates

The rate of interest earned on the One Year Fixed Term Deposit Contract is fixed at the beginning of the term and will apply for the full term of the contract.

Interest Calculation

Interest is calculated on a daily basis from the day funds are cleared. This means that you will earn interest after the second business day in respect of cheques received for credit of the account. Funds received by Electronic Fund Transfer (EFT) will earn interest from the date credited to your account.

Interest Payments

Interest will be added to the contract at maturity or may be sent for the credit of the nominated account, as indicated by you when completing the Application Form or as indicated in writing by you at least 24 hours before maturity.

Interest Rate Changes

If we change the interest rate for this type of account during the fixed period your account will not be affected until the maturity of your contract.

4. Deposits

Your deposit may be made via electronic funds transfer from your personal Bank or Building Society account or by cheque, which is required to be drawn on the account holder’s existing personal account in the UK payable to the name/s of the account to be opened by Turkish Bank (UK) Ltd (i.e. the same as the drawer of the cheque).

Additional One Year Fixed Term Deposit Contracts can be opened in the same name(s) during the lifetime of an existing deposit. Minimum amount is £5,000 for each contract.

For joint applicants your cheque should be drawn on a joint personal account in the exact names of the applicants. (If you do not have a joint account, we will require a personal cheque, drawn as above from each applicant). The same rule applies, as above, for electronic funds transfers.

5. Maturing Funds

We must receive written instructions to repay the deposit at least 2 business days before the maturity date. Otherwise it will be rolled over at the prevailing rate.

Withdrawals will be remitted direct to your nominated UK Bank or Building Society account or by bankers draft drawn in your name. For your protection no payments in favour of third parties will be permitted. No cash withdrawals are permitted.

. Withdrawals

No withdrawals are allowed before the fixed maturity date.

7. Amendments

Requests to amend account details should be made in writing and be signed by you in accordance with the prevailing instructions. Any notice of change of name must be accompanied by appropriate evidence. (e.g. marriage certificate) Fixed Deposit Contract amounts cannot be amended (increased/decreased) during the term agreed.

8. Statements

Confirmation of contract will be provided to you within 10 business of the date of commencement

9. Death of Account Holder

If a sole account holder dies, the personal representatives may close the contract (upon presentation of such evidence of their authority as we may require) by withdrawing the balance of the account together with any interest accrued to date without penalty.

If a joint account holder dies the account may continue in the name of surviving account holder. Alternatively, the survivor may elect to close the contract by withdrawing the balance of the account together with any interest accrued without penalty.

10. Variation

Any variation to these terms and conditions will be notified to the account holders in writing at least 30 days prior to making such change.

11. Cooling-Off

As this is a Fixed Term Deposit Contract, no cooling off period is applicable.

12. Deposit Protection Scheme

Deposit Protection Scheme, can I amend the first two paragraphs to one new paragraph reading the following.

We are covered the Financial Services Compensation Scheme (FSCS). In respect of deposits, an eligible depositor is entitled to claim up to £ 75,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £ 75,000 each (making a total of £ 150,000). The £ 75,000 limit relates to the combined amount in all the eligible depositor’s account with the Bank, including their share of any joint account, and not to each separate account.

Further details of the Scheme are available from the Financial Services Compensation Scheme www.fscs.org.uk.

13. Product Availability

A One Year Fixed Tem Deposit Contract is only available to investors aged 18 or over in a sole or joint basis via post and telephone. The account must not be used for business purposes. All account holders must be UK resident(s).

14. Contracts (Rights of Third Parties)

This contract is between the Account Holder(s) and Turkish Bank UK Ltd. The terms of the contracts Rights of Third Parties Act 1999 and any other legal third party rights are specifically excluded. This means that only the parties to the contract (or their legal successor(s), assignee(s) or other security holders) may have contractual rights.

 

  • Turkish Bank UK Ltd is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority.
  • Turkish Bank UK Ltd. is committed to providing excellent customer service at all times. If there is concern that standards have not been met please bring this to our attention as soon as possible. A copy of the Bank’s Customer Complaint Procedure is available from the Bank’s Customer Services Department on request.
  • Turkish Bank UK Ltd. is a member of the Financial Services Compensation Scheme.
  • Turkish Bank UK Ltd. is incorporated in the United Kingdom and Registered Number is 2643004.
  • Turkish Bank UK Ltd. is registered in England and Wales having its Registered Office at 84-86 Borough High Street, London SE1 1LN.

 

15. Complaints

Should you wish to make a complaint regarding this product, Turkish Bank UK Ltd has a complaints procedure in place. Details of this is available through our website, www.turkishbank.co.uk, in our branches or from our Call Centre on 0800 032 0480.

Specific Terms and Conditions for the Two Year Fixed Term Deposit Bond

These terms and conditions (as may be amended from time to time) apply to the Two Year Fixed Term Deposit Bond Contract (‘the contract’) which the contract holder/Bond holders (‘you’) with Turkish Bank UK Ltd. (‘The Bank’;’we’,’us’,’our’).

1. Deposit Amount

To be eligible for Two Year Fixed Term Bond, you must be a UK Resident aged 18 or over and invest a minimum £5,000. The maximum amount accepted by us is £250,000 but this may be increased at our discretion.

2. Confirming Your Identity

UK anti money laundering regulations requires that we have to ask you for proof of identity. We will not be able to open your account without the correct identification documents.
If you are already a customer of Turkish Bank UK Ltd., you do not have to provide further proof of identity or address.

If you are not a customer of Turkish Bank UK Ltd:

 

  • If your application is in your name only: We will need to see one form of original address identification document from the list below.
  • If your application is in joint names: We will need to see one form of original address identification document for each applicant from the list below. When the surname and address given are the same for all parties to the account, there is no need to provide address verification for more than one of the parties.

 

Proof of Identity

We need to see ONE of the following five types of documentation for each applicant.

 

  • An Original Bank Statement from the account where your initial deposit cheque has originated, dated within the last three months
  • An Original Inland Revenue Notice of Tax Coding for the current tax year
  • Original Utility Bill at your current address, dated within the last six months. Gas, electricity, water or land telephone (not mobile)
  • An Original Council Tax bill at your current address for the current tax year
  • Other Original Personal Financial Statements (credit card statement or another personal UK bank account) at your current address, dated within the last three months

 

We will return these documents to you within five business days of receipt.

3. Deposits

Your deposit may be made via electronic funds transfer from your personal Bank or Building Society account or by cheque, which is required to be drawn on the account holder’s existing personal account in the UK payable to the name/s of the account to be opened by Turkish Bank (UK) Ltd (i.e. the same as the drawer of the cheque).

For joint applicants your cheque should be drawn on a joint personal account in the exact names of the applicants. (If you do not have a joint account, we will require a personal cheque, drawn as above from each applicant). The same rule applies, as above, for electronic funds transfers.

4. Joint Bonds

You may hold a bond in joint names. If so, you are liable for any money due to us, and all of you must sign to operate the Bond unless you all authorise us in writing that we can accept one signature.

5. Payment Of Interest

Interest Rates

The rate of interest earned on the Two Year Fixed Term Deposit Bond is fixed at the beginning of the term and will apply for the full term of the contract.

Interest Calculation

Interest is calculated on a daily basis from the day funds are cleared. This means that you will earn interest after the second business day after the receipt of your cheque. The bond will be cancelled if the cheque returns unpaid by your bank. Funds received by Electronic Fund Transfer (EFT) will earn interest from the date the bond is opened.

Payment of Interest.

Interest will be paid annually on the anniversary of the Fixed Deposit. Annual interest can be paid to another account with us or to an account with another UK Bank by BACS but cannot be reinvested in the Bond.

Payments at Maturity

At the end of the term, Interest will be added to the principal amount of the bond and rolled over for a further period matching that of maturing bond, or may be sent for the credit of the nominated account, as indicated in writing by you at least two business days before maturity. No cash withdrawals are permitted.

6. Withdrawals

No repayments or closures are allowed before the fixed maturity date.

7. Maturing Funds

We must receive written instructions to repay the deposit at least 2 business days before the maturity date. Otherwise it will be rolled over at the prevailing rate.

Withdrawals will be remitted direct to your nominated UK Bank or Building Society account or by bankers draft drawn in your name. For your protection no payments in favour of third parties will be permitted. No cash withdrawals are permitted.

8. Other Features Of The Bond

We will send you an annual statement to keep track of your account.

You can hold more than one bond at any time.

A written confirmation of deposit will be sent to you within seven working days of opening your bond.

9. Death of Bond Holder

If a sole Bond holder dies, the personal representatives may terminate the contract (upon presentation of such evidence of their authority as we may require) by withdrawing the balance of the account together with any interest accrued to date without penalty.

If a joint bond holder dies the contract may continue in the name of surviving bond holder. Alternatively, the survivor may elect to terminate the contract by requesting repayment of the bond together with any interest accrued to the date of termination without penalty.

10. Variation

Any variation to these terms and conditions will be notified to the bond holders in writing at least 30 days prior to making such change.

11. Cooling-Off

As this is a Fixed Term Deposit Contract, no cooling off period is applicable.

12. Deposit Protection Scheme

Deposit Protection Scheme, can I amend the first two paragraphs to one new paragraph reading the following.

We are covered the Financial Services Compensation Scheme (FSCS). In respect of deposits, an eligible depositor is entitled to claim up to £75,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £75,000 each (making a total of £150,000). The £75,000 limit relates to the combined amount in all the eligible depositor?s account with the Bank, including their share of any joint account, and not to each separate account

Further details of the Scheme are available from the Financial Services Compensation Scheme www.fscs.org.uk.

13. Complaints

Should you wish to make a complaint regarding this product, Turkish Bank UK Ltd has a complaints procedure in place. Details of this is available through our website, www.turkishbank.co.uk, in our branches or from our Call Centre on 0800 032 0480.

Specific Terms and Conditions for the Three Year Fixed Term Deposit Bond

These terms and conditions (as may be amended from time to time) apply to the Three Year Fixed Term Deposit Bond Contract (“the contract”) which the contract holder/Bond holders (“you”) with Turkish Bank UK Ltd. (“The Bank”;”we”,”us”,”our”).

1. Deposit Amount

To be eligible for Three Year Fixed Term Bond, you must be a UK Resident aged 18 or over and invest a minimum £5,000. The maximum amount accepted by us is £250,000 but this may be increased at our discretion.

2. Payment Of Interest

Interest Rates

The rate of interest earned on the Three Year Fixed Term Deposit Bond is fixed at the beginning of the term and will apply for the full term of the contract.

Interest Calculation

Interest is calculated on a daily basis from the day funds are cleared. This means that you will earn interest after the second business day after the receipt of your cheque. The bond will be cancelled if the cheque returns unpaid by your bank. Funds received by Electronic Fund Transfer (EFT) will earn interest from the date the bond is opened.

Payment of Interest.

Interest will be paid annually on the anniversary of the Fixed Deposit. Annual interest can be paid to another account with us or to an account with another UK Bank by BACS but cannot be reinvested in the Bond.

Payments at Maturity

At the end of the term, Interest will be added to the principal amount of the bond and rolled over for a further period matching that of maturing bond, or may be sent for the credit of the nominated account, as indicated in writing by you at least two business days before maturity.

3. Joint Bonds

You may hold a bond in joint names. If so, you are liable for any money due to us, and all of you must sign to operate the Bond unless you all authorise us in writing that we can accept one signature.

4. Withdrawals

No repayments or closures are allowed before the fixed maturity date.

5. Death of Bond Holder

If a sole Bond holder dies, the personal representatives may terminate the contract (upon presentation of such evidence of their authority as we may require) by withdrawing the balance of the account together with any interest accrued to date without penalty.

If a joint bond holder dies the contract may continue in the name of surviving bond holder. Alternatively, the survivor may elect to terminate the contract by requesting repayment of the bond together with any interest accrued to the date of termination without penalty.

6. Variation

Any variation to these terms and conditions will be notified to the bond holders in writing at least 30 days prior to making such change.

7. Other Features Of The Bond

We will send you an annual statement to keep track of your account.
You can hold more than one bond at any time.
A written confirmation of deposit will be sent to you within seven working days of opening your bond.

7. Cooling-Off

As this is a Fixed Term Deposit Contract, no cooling off period is applicable.

8. Deposit Protection Scheme

Deposit Protection Scheme, can I amend the first two paragraphs to one new paragraph reading the following.

We are covered the Financial Services Compensation Scheme (FSCS). In respect of deposits, an eligible depositor is entitled to claim up to £75,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £75,000 each (making a total of ?150,000). The ?75,000 limit relates to the combined amount in all the eligible depositor?s account with the Bank, including their share of any joint account, and not to each separate account.

Further details of the Scheme are available from the Financial Services Compensation Scheme www.fscs.org.uk.

9. Complaints

Should you wish to make a complaint regarding this product, Turkish Bank UK Ltd has a complaints procedure in place. Details of this is available through our website, www.turkishbank.co.uk, in our branches or from our Call Centre on 0800 032 0480.

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