The English Translation Has No Legal Force And Is ProvidedDocument Transcript
Conditions of ABN AMRO Internet Quarterly
The English translation has no legal force and is provided to the
customer for convenience only.
The conditions in the Dutch language shall be binding and prevail
in all respects. The law of the Netherlands shall apply.
In these conditions the following terms are understood to 9 ABN AMRO may close the Account if the Account is used
mean: in a manner that conflicts with these conditions.
ABN AMRO: ABN AMRO Bank N.V.;
Account: an ABN AMRO Internet Quarterly Savings Account; 10 On closure of the Account, all transfer instructions not yet
Account Holder: the holder of or applicant for an ABN AMRO executed by ABN AMRO will be cancelled and ABN AMRO
Internet Quarterly Savings Account; if several natural or legal will transfer the balance on the Account to a Counter Account.
persons act as Account Holders, they will be referred to both If this is not possible, the Bank shall hold the balance at the
separately and collectively as the Account Holder; disposal of the Account Holder. No interest shall be paid on the
Counter Account: any other euro-denominated savings or balance thus held.
current account held by the Account Holder individually or
together with one or more other persons at ABN AMRO in the 11 Both the Account Holder and ABN AMRO may cancel the
Netherlands, provided that the conditions governing that other Account at any time, to take effect on any date.
account permit funds transfers to that account.
12 The Account is a savings account and is not intended for
1 Accounts may only be held in the name of natural persons, carrying out payment transactions.
associations and foundations that do not carry on a business.
Only one Account may be opened per Account Holder. 13 The Account Holder will not receive paper account
ABN AMRO reserves the right to refuse to open an Account. statements from ABN AMRO. Account Holders are under an
obligation to check the account statements made available
2 An Account may only be opened if the Account Holder has through Internet Banking at least once per month.
entered into an Internet Banking agreement with ABN AMRO
and has a Counter Account held with ABN AMRO. 14 The account statements made available through Internet
Banking shall be deemed equivalent to paper account
statements for the purposes of Articles 12 and 13 of the
3 Deposits in the Account can only be made by funds transfer General Banking Conditions of ABN AMRO Bank N.V. and
in euros. Cash deposits are not possible. The first deposit must shall be deemed to have reached the Account Holder on the last
be at least EUR 100. The balance on the Account must be at day of each month.
least EUR 25.
15 ABN AMRO may provide a duplicate account statement on
paper if the Account Holder requests. ABN AMRO will make a
4 The Account Holder can dispose of the balance on the charge for this.
Account at no charge, by means of a funds transfer to a
Counter Account using Internet Banking or through cash 16 ABN AMRO may alter these conditions at any time. Any
withdrawal. alterations to the detriment of the Account Holder shall only
become effective once they have been notified in accordance
with condition 17.
5 Interest is calculated on the daily value balance and added to
the Account on the last day of each calendar quarter, after 17 Notification to the Account Holder can take place in one of
which it bears interest. Interest amounts of less than EUR 0.40 the following ways:
will not be paid out. - an announcement via the ABN AMRO website
6 If the Account is cancelled, interest will be settled in the - written notification addressed to the Account Holder;
interim. - electronic notification addressed to the Account Holder;
- notification in at least three generally circulated Dutch
7 To calculate interest, three rates are applied: newspapers.
balance up to and including EUR 1,200,000:
- rate I on the amount remaining in the Account from the end 18 The agreement to which these conditions apply is governed
of one calendar quarter to the end of the next calendar quarter; by Dutch law. Unless otherwise stipulated above, the
- rate II in all other cases; relationship between the Account Holder and ABN AMRO is
balance in excess of EUR 1,200,000: subject to the General Banking Conditions of
- rate III, irrespective of whether or not this part of the balance ABN AMRO Bank N.V.
has remained in the Account for a full calendar quarter.
8 The interest rates are set by ABN AMRO, which has the
right to alter the rates at any time. The interest rate and any
alterations to it will be announced in accordance with