International Payments - Terms and Conditions | Ulster Bank

Ulster Bank - Terms and Conditions

CHAPS and Foreign Payment System

CHAPS and Foreign Payment System (effective from 13th June 2017)

Please read the Terms and Conditions carefully. These Terms and Conditions explain the Account Holder’s rights and responsibilities and those of the Bank in respect of the Bank sending a CHAPS or Foreign payment on your behalf via the CHAPS or SWIFT systems. Nothing in these Terms and Conditions affects the terms and conditions governing the operation of the Account Holder’s account(s) with the Bank (called the “Account Agreement”) which shall prevail in the event of a conflict between the two.

1. In these Terms and Conditions, the following words and expressions shall have the following meanings:

‘Account’ means any account held by the Account Holder with the Bank;

‘Account Terms & Conditions’ means the terms and conditions for any Account;

‘Account Holder’ means the individual requesting a Payment to be made by the Bank indicated by the account holder and any reference to the Applicant shall be taken to have the same meaning as Account Holder;

‘Agent’s Charges’ are the charges levied by the other financial institutions involved in the Payment. Ulster Bank; Limited has no control over these;

‘Bank’ means Ulster Bank Limited;

‘Beneficiary’ means the intended payee of, and as stated on, the Payment;

‘BIC’ means the international recognised Business Identifier Code;

‘Business Day’ means a day (other than a Saturday or Sunday or a bank or public holiday) on which the Bank; is open for business for the purpose of processing the Payment;

‘CHAPS’ means the Clearing House Automated Payment System;

‘Europe’ means all European Union members (and associated territories) and from time to time European Economic Area (EEA) Member States (Iceland, Liechtenstein and Norway), as well as Monaco, San Marino and Switzerland;

‘IBAN’ is the International Bank Account Number that is used to identify the Beneficiary’s account;

‘Payment’ means the payment to be made on behalf of the Account Holder as indicated by the Account Holder’s instructions;

‘SEPA’ means the Single Euro Payments Area in which you can make and receive non-urgent euro payments; under the same basic conditions, rights and obligations regardless of your location in the European Union (EU) or European Economic Area (EEA);

‘SWIFT’ means the Society for Worldwide Interbank Financial Telecommunications.

2. Reasonable care will be exercised by the Bank. Should such care not be exercised then, subject and without prejudice to the limits on the liability of the Bank under the Account Agreement and these Terms and Conditions, the Bank will be responsible to the Account Holder only (not the Beneficiary or their banker) for any loss of a kind that would ordinarily be expected to occur. This includes interest but not loss of contracts or profits or other indirect or consequential loss.

3. The Account Holder is responsible for the accuracy of the Payment instructions given and must ensure that all Payment instructions given contain, as appropriate, the Beneficiary’s account number/IBAN, full name and address and Beneficiary’s Bank’s BIC. For SEPA Payments, only the IBAN is required, rather than IBAN and BIC. If this information is not provided, or is incorrect or incomplete, the Bank reserves the right to return the Payment. Payments in euro in favour of beneficiaries in the EU/EEA countries plus Switzerland which do not contain the IBAN of the Beneficiary and the BIC of the Beneficiary’s Bank or which contain an incorrect or incomplete IBAN and BIC will not be processed and will be returned. The Bank shall not be liable for any loss occasioned by the Account Holder as a result of this failure to provide accurate Payment instructions. In the event that a currency payment is returned to us by the receiving bank, the funds will be credited to the account from which the Payment was made. If this is in a different currency to the currency of the Payment, the returned funds will be converted at the exchange rate applicable on the day they are credited to the Account. This may mean that the credit to the Account is of greater or lesser value than the original debit. If this information is not provided, or incomplete, the Bank reserves the right to refuse to make the Payment and will notify the Account Holder of this in the manner set out in Clause 7.

4. The Bank undertakes to process the Payment on the date requested provided that it is received on a Business Day by the cut-off time specified in the ‘Schedule of Services – Payments & International Banking Charges’ and otherwise subject to these Terms and Conditions. Payment instructions received on a non-; Business Day or after the cut-off time on a Business Day will be processed on the next Business Day. If the; date requested has already passed when received by the Bank, the Payment will be processed on that Business; Day if received before the cut-off time, or on the next Business Day if received after the cut-off time or on a non-Business Day. A Payment instruction in respect of a future dated Payment will be treated as received on the; date for payment as specified by the Account Holder in the Payment instruction or, if this is not a Business Day, on the following Business Day.

5. Unless otherwise agreed between the Account Holder and the Bank, the Account Holder cannot cancel a Payment after the Bank has processed the Payment. In the case of future dated Payments, the Account Holder may cancel a Payment by contacting the Bank at least one Business Day before the Payment is due to be processed. The Account Holder should have their Chip & PIN enabled card (or chip and signature where permitted by the branch) with them in order to cancel a future dated Payment in the branch. The Account Holder will provide the name of the Beneficiary, Beneficiary’s account number and bank details (IBAN and SWIFT BIC), Payment amount and Payment date. For SEPA Payments, only IBAN is required, rather than BIC and IBAN.

6. The Bank does not accept liability for any delay in transit or for any failure in the payment reaching the intended Beneficiary’s account, unless such delay or failure is caused by the negligence of the Bank. The liability of the Bank under this Clause 6 shall be limited to that provided for in Clause 2. Notwithstanding any other provision of these Terms and Conditions, the Bank shall have no liability for, and may delay or refuse to process or proceed with processing any payment, without giving notice or reason to the sender or the beneficiary if

(i) in its opinion it is prudent to do so in the interest of crime prevention or following advice from anygovernmental or regulatory (in each case either domestic or international) authority or

(ii) such delay or refusal is a consequence of the checks carried out as part of the proper operation of the; Bank’s payment processing systems.

7. If the Bank refuses to process a Payment, unless there is a security or legal reason not to, the Bank will notify; the Account Holder by email or by phone or by writing to it and, if possible give the Bank’s reason for doing so.

8. Unless otherwise agreed, where a Payment is to be made in a different currency to that in the Account, the rate of exchange applied to the Payment will be that used by the Bank on the date of processing the Payment. Therefore, unless a specific pre-agreed rate and reference are quoted, foreign currency transfers will be converted at the Bank’s prevailing rate at the time the transaction is processed by the Bank. The Account Holder can obtain details of the exchange rate on that day from the foreign exchange board in the Bank’s branches and on the Bank’s website.

9. Unless otherwise agreed, the charges to be paid by the Account Holder will be debited to the account from which the Payment is being made. Please refer to Clause 11.

10. In order to make this Payment through the banking payments system, the Bank may require to transfer relevant personal information to third parties. This may mean that such personal information will be transferred to countries which do not provide the same level of protection for your personal information as Northern Ireland. By giving this instruction and confirming payment, you agree to this and you are authorised to instruct the Bank to transfer personal information relating to other individuals named. Information transferred to these third parties may subsequently be accessed and used by law enforcement agencies and other authorities to prevent and detect crime and comply with legal obligations.

11. For details of amounts we will charge you for sending payments on your behalf, please refer to ‘Schedule of Services – Payment & International Banking Charges’ available from branches, your Private Banking Manager or from If there are any changes to these charges, we will give you at least 60 days notice.

12. If you are not satisfied with any of Ulster Bank’s products or services we have a complaint handling procedure that you can use to resolve such matters. A leaflet giving details of the procedure can be obtained from any of our branches or by telephoning the Bank. The Bank is a member of The Financial Ombudsman Service. If you are still not satisfied after following the Bank’s procedures, you can ask the Ombudsman to review the complaint.

You can find out more about The Financial Ombudsman Service in a leaflet available from any branch. Alternatively you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR or telephone 0800 023 4567.

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