Changes are being made to your current account conditions in line with EU Regulation 260/2012 allowing for electronic payments in euro to be made within the single euro payments area (SEPA),that is, within and across national boundaries using the same basic conditions and in accordance with the same rights and obligations, regardless of location within the European Union. The changes to the account conditions necessitated by the EU Regulation will come into effect on the 1st February 2014. The changes reflect the requirement to implement the new consumer rights contained in the Regulation and to ensure that all electronic payments in euro are made within SEPA using the International Bank Account Number (IBAN) and the Bank Identification Code (BIC).

In addition, a change (not arising from the introduction of SEPA) will be made to the account conditions headed ”Bank Cards (Excluding Credit Cards)” where, at condition 5(e)(iii), 2nd line, the word “payments” will be replaced with “Card Transactions”.

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