29. Confirmations, Advices and Statements

The Bank will provide the Account Holder with information about their Accounts as set out below:-

Confirmations

At the initial opening and also at the renewal of a fixed term deposit, a Confirmation will normally be sent to the Account Holder showing full details of the deposit including the principal sum, start date and maturity date, the rate of interest being paid on the deposit and the amount of interest to be paid at maturity, less any tax deducted, if appropriate.

Advices

For all non-fixed Accounts, an Advice will normally be sent to the Account Holder for each credit or debit to the Account, showing the amount deposited and the date from which interest will be paid.

Statements

For all non-fixed Accounts, a Statement will normally be sent to the Account Holder each month showing the previous month's transactions on the Account, interest credited, as applicable, and any changes to the interest rate paid on the Account.

Statements are not issued in respect of fixed term deposits.

Confirmations, Advices and Statements are sent by post to the Account Holder's address as notified by the Account Holder to the Bank. In the case of Joint Accounts, these are sent to the name of the Account Holder first recorded in the books of the Bank, unless the Account Holder specifies to the contrary in writing to the Bank.

Confirmations, Advices and Statements ("correspondence") are not documents of title. The Account Holder agrees that in the absence of any notification of error from the Account Holder being received by the Bank within 28 days of the despatch of such correspondence, the correspondence shall be conclusive evidence against the Account Holder of the correctness of the entries and the balance appearing thereon. It is an obligation of the Account Holder to review such correspondence regularly in order to comply with these Terms and Conditions and to notify the Bank immediately of any discrepancies or unauthorised entries.

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