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Terms and Conditions


The term "Masthaven" or "us" or "we" refers to the owner of this website, Masthaven Bank Limited, whose registered office is 4th Floor 11 Soho Street, London, United Kingdom, W1D 3AD. Our company is registered in the UK under registration number 09660012. The term "you" or "user" refers to the viewer or user of our website.
These website terms of use ("Terms") apply to the entire contents of the website under the domain name www.masthaven.co.uk ("Website") and to any correspondence by email between us and you. Please read the following terms and conditions carefully before using this Website. You may wish to print a copy for future reference. We reserve the right to change these Terms from time to time; this will normally be either when changes in legislation or regulations have taken place or where the content of the Website has been changed significantly. Updated terms of use will be uploaded to our Website.
By accessing this Website, you agree to be bound by these Terms, regardless of whether or not you choose to subscribe to any of our updates or marketing materials, or otherwise register your details with us. If you do not accept these Terms, then please do not use this Website.


Masthaven may revise these Terms at any time by updating this posting. You should check this Website from time to time to review the current Terms as they are binding on you.


1. WEBSITE ACCESS
1.1 Use of this Website
1.1.1 By accessing any part of this Website, you shall be deemed to have accepted these Terms in full. If you do not accept these Terms, you must leave the Website immediately.
1.1.2 There may be certain areas of the Website that you may not access without registering. You must not attempt to access such areas of the Website without having provided the required registration details.
1.1.3 Certain provisions of these Terms may be superseded by expressly designated legal notices or terms located on particular pages of this Website.
1.2 Availability of access
1.2.1 Masthaven is under no obligation to ensure that the Website operates continuously and may suspend access to the Website temporarily or permanently without giving notice or reason.
1.2.2 Masthaven will aim to provide reasonable notice before access to the Website is suspended, although this does not constitute an obligation on Masthaven.
1.3 Changes to Website content
Masthaven may make changes to the material on the Website, or to the products and prices that may be described on the Website, at any time without notice. The material on this Website may be out of date, and Masthaven makes no commitment to update such material. Information provided on the Website is for information purposes only.

2. RESTRICTIONS ON USERS
You must not:
2.1 attempt to gain unauthorised access to the Website or any part of the Website;
2.2 transmit any material:
2.2.1 which is technically harmful (including, without limitation, computer viruses, logic bombs, Trojan horses, worms, harmful components, corrupted data or other malicious software or harmful data);
2.2.2 which is illegal, threatening, defamatory, abusive, offensive, in breach of confidence or in breach of privacy;
2.2.3 for which you have not obtained all necessary licences and/or approvals; or
2.2.4 which constitutes or encourages conduct that could be considered a criminal offence, could give rise to civil liability or is otherwise contrary to the law of, or infringes the rights of any third party in, the UK or any other country in the world;
2.3 decompile, reverse-engineer or disassemble any part of the Website or its contents or any software used in connection with the Website;
2.4 misuse the Website by hacking, sending or distributing multiple unsolicited junk emails, messages or chain letters, or otherwise interfering with or disrupting the Website; or
2.5 use the Website for any commercial, profit-making or re-sale purposes, including the systematic extraction and/or re-utilisation of any part of the Website or its content.


3. PRODUCTS AND SERVICES
Any products or services that we may offer to you from time to time through our Website will be governed by separate terms and conditions. Where there is a conflict between these Terms and the terms and conditions of a particular product or service, those terms and conditions will prevail.


4. WEBSITE CONTENT
4.1 While Masthaven endeavours to ensure that the information on the Website is correct, Masthaven does not warrant the accuracy and completeness of the material on this Website. Masthaven may make changes to the material on the Website, or to the products and prices described in it, at any time without notice. The material on the Website may be out of date, and Masthaven makes no commitment to update such material.
4.2 The material on this Website is provided "as is" and does not contain conditions, warranties or other terms of any kind. Accordingly, Masthaven provides material on the Website on the basis that all Website content which might take effect as representations, warranties, conditions or other terms if it were not for this clause, are excluded to the extent permitted by law.
4.3 We do not give investment advice and nothing on our Website should be interpreted as advice or recommendation in relation to any financial product or service whatsoever.


5. EXCLUSION OF LIABILITY
5.1 Masthaven, any other party (whether or not involved in creating, producing, maintaining or delivering this Website), and any of Masthaven's group companies, as well as the officers, directors, employees, shareholders or agents of any of them, exclude all liability and responsibility for any amount or kind of loss or damage that may result to you or a third party (including without limitation, any direct, indirect, punitive or consequential loss or damages, or any loss of income, profits, goodwill, data, contracts, use of money, or loss or damages arising from or connected in any way to business interruption, and whether in tort (including without limitation negligence), contract or otherwise) in any way or in connection with:
5.1.1 this Website;
5.1.2 the use, inability to use or the results of use of this Website;
5.1.3 any websites linked to this Website or the material on such websites;
5.1.4 your downloading of any material from this Website or any websites linked to this Website; or
5.1.5 viruses that may infect your computer equipment, software, data or other property on account of your access to, use of, or browsing this Website.
5.2 Nothing in these Terms shall exclude or limit Masthaven’s liability for:
5.2.1 death or personal injury caused by our negligence; or
5.2.2 fraud; or
5.2.3 misrepresentation as to a fundamental matter; or
5.2.4 any liability which cannot be excluded or limited under applicable law.
5.3 If your use of material on the Website results in the need for servicing, repair or correction of equipment, software or data, no liability for such costs lies with us except for where such liability cannot be excluded under applicable law.


6. COPYRIGHT AND INTELLECTUAL PROPERTY
6.1 Unless otherwise stated, the copyright and other intellectual property rights in all material on the Website (including without limitation photographs and graphical images) are owned by Masthaven or its licensors. Any use of extracts from the Website for any purpose is prohibited, other than in accordance with clause 6.2. If you breach any of the conditions in these Terms, your permission to use the Website automatically terminates and you must immediately destroy any downloaded or printed extracts from the Website.
6.2 No part of this Website may be reproduced or stored on any other website or included in any public or private electronic retrieval system or service without Masthaven’s prior written permission.
6.3 Any rights not expressly granted in these Terms are reserved.
6.4 Masthaven logos are trademarks of Masthaven Bank Limited or other entities in the same corporate group. All rights not expressly granted in these Terms are reserved.
6.5 All other trademarks appearing on the Website are the property of their respective owners. All rights not expressly granted in these Terms are reserved.


7. USE OF YOUR INFORMATION
Please see our Privacy Statement for details of what information we collect from you and how we use this information.


8. LINKS TO THIRD PARTY WEBSITES
If we provide links to third party websites on our Website, they are provided solely for your convenience and the content of these websites will not have been reviewed by us. If you use these links, you leave our Website. We are not responsible for the content of such websites and therefore we do not endorse or make any representations about such content. If you access any third party website linked to our Website, you do so entirely at your own risk.


9. GOVERNING LAW AND JURISDICTION
These Terms shall be governed by and construed in accordance with the laws of England and Wales. Disputes arising in connection with these Terms shall be subject to the exclusive jurisdiction of the courts of England and Wales.


10. CONTACT
If you have any questions in relation to our Website or notice any fault in our Website, please call us on 020 7036 2000 or email [email protected]

 


Masthaven Bank Fixed Rate Bond Terms And Conditions

Our Fixed Rate Bond Terms And Conditions are below, or alternatively, download them here.


These terms and conditions ("conditions") contain basic information about us, Masthaven Bank Limited, our services, and our agreement with you, the account holder, as well as general terms that apply to each of the fixed rate bond or flexible term accounts that you hold with us. It is important that you read these conditions all the way through. These conditions, along with the confirmation that you will receive once we have opened your fixed rate bond account, the Product Summary sheet, which includes the specific conditions and other terms that apply to your fixed rate bond account, and our Fees and Charges Schedule, which describes any fees and charges which apply to your fixed rate bond account, form our agreement with you. These documents can be viewed on our website at www.masthaven.co.uk.


The conditions set out the features of our fixed rate bond account ("account"), the restrictions that apply to you once you have made a deposit into your account, and our responsibilities and obligations to each other. Please be aware that this is a fixed term account which means that once you have made a deposit into your account, you cannot withdraw your funds until the end of the fixed term.


If you have any questions, please contact us using the details in clause 24 below before opening your account.


Where we refer to a "business day", we mean any day from Monday to Friday but excluding bank holidays in England and Wales, otherwise days are calendar days.
Our "online account manager" is a secure eBanking service which you will have access to and can log into once you receive confirmation that your account has been successfully opened.

1. OUR AGREEMENT WITH YOU
1.1 Terms such as "we", "us", "our" or "Masthaven Bank" relate to Masthaven Bank Limited, which is a company incorporated under the laws of England and Wales with company number 09660012. Masthaven Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (No. 719354).
1.2 Our registered address, which is the formal address of our company, is Masthaven Bank, Fourth Floor, 11 Soho Street, London W1D 3AD.
1.3 "You" and "your" relate to you as the account holder. If your account is held jointly between two or more people, "you" and "your" relates to each of you.
1.4 In the event of any inconsistency between these conditions and the Product Summary sheet, the Product Summary sheet shall prevail.
1.5 If there is any inconsistency between the confirmation provided on the opening of your Masthaven fixed rate bond account (as defined in clause 2.8) and either these conditions or the Product Summary sheet, the confirmation shall prevail.

2. OPENING AN ACCOUNT WITH US
2.1 If a minimum age or minimum balance requirement applies to your account, we will tell you during the account opening process. You may only open an account with us if you are a UK resident and a UK or EU citizen.
2.2 You may only open an account with us for personal use and not for any business purpose.
2.3 You may have numerous fixed rate bond accounts with us at any one time. However, there may be a maximum number of fixed rate bond accounts and/or a maximum total balance that you can have deposited across all of your fixed rate bond accounts with us at any one time. We will inform you if the maximum amount relevant to your fixed rate bond account(s) changes. We will not accept an application from you to open an account that would bring you above the maximum number of accounts and/or maximum total balance limit. Any accounts held jointly, or funds held in a joint account, will count towards each of your own individual limits. Our Product Summary sheet will refer to our current limits.
2.4 If you open an account or accounts and, as a result, the maximum permitted number of accounts applicable at that time is exceeded, or you transfer money into your accounts bringing your total balance across all accounts above the maximum permitted amount, we reserve the right to close out any accounts to reduce the aggregate to below the maximum (at our discretion where there are options as to which accounts could be closed to achieve this) and return your funds to your nominated account.
2.5 In order to open an account, you will need to complete our online application form which is available on our website: www.masthaven.co.uk.
2.6 The online application form requires all the initial details that we need in order to open your account to be provided. We may also request further information from you before we can open your account. This may be so that we can carry out anti money laundering, fraud or credit checks in relation to you.
2.7 As part of your application, we will require an email address from you which is personal to you. For security reasons, please ensure that this is an email address that only you can access. For example, you should not use an email address that is accessible by your employer.
2.8 Your account will not be opened until we have accepted your application and sent you a confirmation that we have done so ("confirmation") by personal message through the online account manager. Provided your account has been funded within the stipulated timeframe, we will also issue you with a Welcome Pack within 10 business day of your account being successfully opened, which will set out information including the fixed term of the account, the interest rate and the amount that you have deposited into your account. The confirmation is a key part of our agreement with you. Please read the confirmation carefully to check that the details are correct.
2.9 All of our fixed rate bond accounts are subject to availability. Therefore, once you have submitted your online application, we may not be able to offer you the account that you have applied for and we reserve the right to refuse your application. Where we cannot offer you an account on the terms that you applied for, we may communicate to you an offer to open an account on different terms.
2.10 The terms of the confirmation will be final and where they are not the same as the options selected in your online application form, the information set out in the Product Summary sheet, or as otherwise previously communicated between us, it is the confirmation that prevails and forms part of our agreement. It is important to check the terms offered in the confirmation before depositing funds into your account.
2.11 We may refuse to open an account for any reason except for where such refusal would be unlawful under equality legislation or other applicable law. Such refusal would typically occur in circumstances where you are ineligible, we have our own objective commercial reasons (such as limits on the number of accounts we can offer), we suspect fraud, we have been unable to verify your identity or carry out appropriate checks in relation to financial crime, or there is some legal or regulatory reason why we cannot open an account for you. We will typically not be able to provide reasons for refusing to open an account.

3. DEPOSITING INTO YOUR ACCOUNT
3.1 Once we have confirmed with you that your account has been opened, you will have a period of seven days, including the day on which we sent our confirmation, to fund your account.
3.2 We will only accept funds from the UK bank current account nominated by you in accordance with clause 7 below ("nominated account"). You will need to transfer the funds to us in accordance with the instructions provided during the application process and when we have confirmed your account has successfully been opened. We will credit the deposit to your account on the same day that we receive the funds from you. You can transfer funds by electronic transfer or debit card but not by cheque.
3.3 You may fund your account with multiple deposits from your nominated account throughout the seven-day period as long as the total amount transferred is not above any maximum specified by us during the account opening process.
3.4 Once the seven day period to fund your account has passed, you will be unable to make further deposits into your account. This will not prevent you from opening additional fixed rate bond accounts with us.
3.5 If you attempt to make an initial deposit of funds after the seven day period, we reserve the right to either return the funds to your nominated account or to accept the funds and offer you a new account. The terms applicable to this new account, including the interest rate, may not be the same as originally offered. Please check the details of what we are offering you carefully. If we accept the funds, we will contact you and provide you with the new terms and, if you accept our offer, we will send to you a new confirmation containing the new terms.
3.6 We may refuse to accept a deposit where there is some legal or regulatory reason why we cannot accept your deposit, if we consider that your deposit has been paid in error, or if you have breached the terms of this agreement (including by transferring an amount in excess of the limit set for a particular account, or that would bring the aggregate balance across all of your accounts with us above the applicable permitted maximum). In these circumstances, unless we are prevented from doing so by law or regulation, or unless a relevant legal or regulatory authority requests that we retain your funds, we will transfer the funds back to your nominated account.
3.7 If you or some other person attempt to fund your account from a bank account other than your nominated account in breach of these provisions, we reserve the right to transfer the funds back to the account from which they were transferred.
3.8 Where a third party transfers funds to your account in error, you authorise us to withdraw those funds from your account and transfer them back to the account from which those funds were transferred.

4. MATURITY AND REPAYMENT
4.1 Your fixed rate bond account is a fixed term product, which means you cannot withdraw your funds or close your account until the end of the agreed term. This agreed term will be set out in the confirmation that we provide to you once your account has been opened. The term will commence on the date that the account is opened as set out in the confirmation.
4.2 Your account will mature at the end of the fixed term period. If this date falls on a day that is not a business day, then your account may mature on the following business day.
4.3 Within a reasonable period of time before the maturity date of your account, we will provide you with the options available to you for when your account matures through the online account manager. We will also remind you of the options available to you through the online account manager by email, mobile telephone, post or message through the online account manager before the account maturity date.
4.4 You may instruct us to transfer the full amount or part of your account balance to your nominated account. If we are unable to make such a transfer because your nominated account has been closed, we will attempt to contact you so that you can instruct us on where to send the funds.
4.5 There will also be an option to make an application to re invest the full or part of the account balance into another fixed rate bond account or any other accounts offered by Masthaven Bank at that time. This new account may be governed by different conditions to these conditions. If, for whatever reason, we are unable to provide you with access to the online account manager, we will endeavour to contact you using the personal details that we hold for you within a reasonable period of time before the maturity date of your account, so that you can tell us what you would like us to do with the funds in your account on maturity.
4.6 If you do not indicate to us what you would like us to do with your funds by the maturity date, or if we are unable to follow your instructions to transfer the funds to your nominated account because it has been closed, your account will automatically become a Masthaven Bank instant savings account. Masthaven Bank instant savings accounts operate on different terms from your fixed rate bond account. Unlike your fixed rate bond account, Masthaven Bank instant savings accounts pay a variable rate of interest. Your funds will be retained in this account until we receive instructions from you.
4.7 We reserve the right to refuse to carry out transfer instructions if there is some legal or regulatory reason for doing so, such as if we believe someone else has rights over the funds in your account, if we believe that someone other than you has given us the instructions without the legal right to do so, or in order to comply with our legal or regulatory obligations.

5. INTEREST
5.1 Interest will be paid at the fixed rate set by us in the confirmation, which we will send to you when we open your account. The interest rate will not change throughout the fixed term of the account.
5.2 Interest is calculated on a daily basis, based on the funds held in your account. Interest will be calculated from the day on which you make your deposit. For example, for a one year account, if you deposit £500 on the first day and £500 on the second day of the seven day period, you will obtain 365 days interest for the first £500 but only 364 days interest for the second £500.
5.3 When you apply for an account with us, you can select the frequency of your interest payments from the available payment options. Your selection will be stated in your confirmation which we will send to you once we have opened your account (as it is the provision in the confirmation that forms part of our agreement where there is a difference).
5.4 Interest will either be paid into your nominated account or added to the balance of your fixed rate bond account in accordance with the instructions that you give to us when you open your account.
5.5 We will pay interest to you gross without tax deducted. If you are liable to pay tax on your savings interest, it is your responsibility to do so.

6. CLOSING YOUR ACCOUNT
6.1 Your account will be open for the fixed term that you select during the account opening process as confirmed by us. You may not close the account until the account matures.
6.2 We may end this agreement and close your account immediately if we reasonably consider that you have acted fraudulently, funded your account in whole or in part by the proceeds of crime, or have otherwise behaved improperly to a significant extent (such as acting in an abusive or threatening manner to us). In these circumstances, unless we are prevented from doing so by law, regulation or a relevant public authority, we will transfer your account balance to your nominated account. We will not be obliged to pay any interest that is not already payable at the time we close your account, unless we are required to do so by law.
6.3 We may also end this agreement and close your account immediately if we reasonably consider that by continuing with our agreement we may breach a legal or regulatory requirement, an order to comply with a court order or an instruction of another relevant public authority, or if continuing the agreement would expose ourselves or another company in Masthaven Bank's group to action from any government or regulator.
6.4 We have the right (but we are not obliged) to end this agreement and close your account immediately if you (or in the case of joint account holders, any one of you) die, become subject to insolvency (bankruptcy) proceedings or no longer meet our eligibility criteria under clause 2.1.
6.5 If we close your account under clause 6.3 or 6.4, unless we are prevented from doing so by law, regulation or a relevant public authority, we will transfer your account balance to your nominated account along with any interest accrued as at the day on which we close your account that has not already been paid.
6.6 Unless we agree otherwise, all transfers to your nominated account will be made via the Faster Payments Service (FPS) or, where the amount to be transferred is above the limit for the FPS, via BACS.

7. YOUR NOMINATED ACCOUNT
7.1 You must at all times have one (and only one) nominated UK bank or building society current account which will apply to all fixed rate bond accounts you hold with us as a sole account holder.
7.2 Joint account holders must have one (and only one) nominated UK bank or building society current account which will apply to all fixed rate bond accounts held jointly by those joint account holders with us. However, this may be a different nominated account from the nominated account(s) applying to other fixed rate bond accounts held in the name of any one of those joint account holders, whether those accounts are held in that person's sole name or held jointly with other persons.
7.3 Your nominated account will be used for all deposits into and withdrawals from your fixed rate bond account with us. When you open your account with us, you must provide us with the sort code and account number of your nominated account.
7.4 This same nominated account will be used to receive interest payments where you have instructed us not to add these interest payments to the balance of your fixed rate bond account.
7.5 We will send all matured funds and interest payments to your nominated account by electronic transfer. It is your responsibility to ensure that your nominated account can receive electronic transfers.
7.6 You can change your nominated account by logging into the online account manager at www.masthaven.co.uk and sending us a secure message, or by calling us.
7.7 We may refuse to make any payment to a nominated account where this would breach our legal or regulatory obligations, such as anti-money laundering requirements.

8. STATEMENTS
8.1 You can access your account balance at any time through the online account manager.
8.2 We will issue you with a statement through the online account manager on the anniversary of opening your account and on the maturity of your account.
8.3 You must let us know as soon as possible if you notice a mistake or a transaction that you do not recognise so that we can investigate it and take appropriate action.

9. CHARGES
We may charge you for certain additional activities or services that we may provide to you in our discretion in relation to your account with us. For more information, please see our Fees and Charges Schedule. This Fees and Charges Schedule forms part of the agreement between us, so it is important that you read it.

10. YOUR RESPONSIBILITIES
10.1 You must inform us of any changes to your name, home address, email address or mobile telephone number, or if you leave the UK and become resident elsewhere or otherwise cease to meet our eligibility criteria under clause 2.1.
10.2 You must not attempt to interrupt or interfere with the working of our website or internet service in any way whatsoever. This includes hacking, tampering with security or causing any other disruption. You must also comply with our website privacy policy and cookies policy, which may change from time to time.
10.3 You must pay tax on the interest paid on your account balance if you are liable to do so.
10.4 You are responsible for taking all reasonable steps to prevent unauthorised access to your accounts in accordance with paragraph 11.

11. PROTECTING YOUR ACCOUNT
11.1 We must take all reasonable steps to prevent unauthorised access to your accounts and to make sure they are secure.
11.2 When your account is set up you will be asked to log on and set your own unique Customer ID. We will also ask you to set up some security details such as your password and a memorable question and answer which you will require, together with your Customer ID, to operate your account on the online account manager. Your Customer ID and these security details form your "security details". Joint account holders will each have their own security details.
11.3 You must not let any person other than yourself use your account security details and you must not share any of your security details with any other person, including other joint account holders.
11.4 You must take all reasonable steps to keep your security details safe. Such reasonable steps will include the following:
11.4.1 not writing down your security details;
11.4.2 not disclosing your security details to any person, not even a member of Masthaven Bank's staff;
11.4.3 only entering your security details when you are asked to do so on our website;
11.4.4 creating security details that are difficult to guess;
11.4.5 making sure nobody can see your security details when you type them;
11.4.6 not allowing any software on any device used to access our website to "save password" in relation to your security details;
11.4.7 not clicking on links in emails in order to access the online account manager as these could be inauthentic emails sent by fraudsters trying to obtain your security details;
11.4.8 ensuring that you log out of the online account manager before leaving your device unattended; and
11.4.9 being wary of emails from senders pretending to be us - if you are in doubt as to the authenticity of an email that appears to originate from us, contact us by telephone or through the online account manager (but do not click on any link contained in a suspicious email).
11.5 You must inform us immediately if you:
11.5.1 know or suspect that someone other than you has access to your security details;
11.5.2 suspect any fraudulent activity has taken place on or in relation to your account;
11.5.3 lose, share or accidently disclose your security details; or
11.5.4 suspect that any email address we hold for you has been compromised.
11.6 It is important to notify us immediately as it will help us to prevent unauthorised transactions being made from your account. Please use the contact details at clause 24. If you do not inform us as soon as possible, you may be liable for the loss caused by any payment/transfer instructions received by us from an unauthorised person.
11.7 You must also ensure that any email address provided by you for use in relation to your account with us is only accessible by you and that you keep your password for that email address secure. You are responsible for ensuring that any email address that we hold for you is protected from unauthorised attempts to gain access to the online account manager.
11.8 We may contact you if we suspect, or if you inform us, that your security details have been compromised, or where there has been any suspicious activity or transaction in relation to your account.
11.9 You must follow all instructions that we give to you which relate to the security of your account. This includes all instructions in relation to how you access and use our website and the online account manager.
11.10 We may change the means by which you can access your accounts online from time to time and we will notify you by email/message of such changes. Where possible, we will give you notice of these changes, but in some circumstances we will need to make changes to security arrangements without giving you prior notice. When this is the case, we will notify you afterwards as soon as we can.
11.11 You must access the online account manager using your security details and by no other means.
11.12 You are responsible for ensuring that you use up to date virus checking and firewall software on any device that you use to access our website or the online account manager.

12. UNAUTHORISED TRANSACTIONS
12.1 If you lose, disclose, or otherwise compromise your security details and, as a result, an unauthorised person gives us an unauthorised transaction instruction(s) in relation to your account, you will be liable for an amount up to a maximum of £50 for losses caused by the unauthorised transaction(s).
12.2 However, you will be liable for all of the loss where you have acted fraudulently, or if you have, intentionally or with gross negligence, either failed to keep your security details safe in accordance with clause 11 above, or otherwise failed to take all reasonable steps to keep your security details safe. This is why you must inform us as soon as possible if you believe your security details have been compromised.
12.3 If you have notified us of the loss or unauthorised use of your security details, you will not be liable for any unauthorised payment instructions given after you have made this notification, unless you have acted fraudulently.
12.4 Please contact us using our contact details set out in clause 24 as soon as you realise that your security details have been compromised.

13. CHANGES TO THIS AGREEMENT
13.1 You may not change the terms of these conditions without our agreement in writing.
13.2 The interest rate for your account will be fixed until the account matures.
13.3 We may make changes to these conditions for the following reasons:
13.3.1 to comply with industry best practice, including fraud prevention practices;
13.3.2 to respond to changes in law, regulation, guidance or decisions of the court, our regulators or the Financial Ombudsman Service;
13.3.3 to make reasonable changes to respond to changes in the banking system;
13.3.4 to comply with instructions, indications or guidance from our regulators or other relevant authorities;
13.3.5 to make improvements to our services which are of benefit to you;
13.3.6 to improve the security features of our services including the features of our website and the online account manager;
13.3.7 to correct mistakes, ambiguities, inaccuracies or omissions where it is reasonable to do so; or
13.3.8 to make these conditions easier to understand or fairer to you.
13.4 We may also make changes to our Fees and Charges Schedule. Where changes we make to our agreement are favourable to you, we will notify you of these changes by email or letter. Where possible, we will do this before the change takes effect.
13.5 Where changes we make to our agreement are not favourable to you, we will give you reasonable prior notice by email or letter. What is "reasonable" notice will depend on the circumstances, such as how urgently we feel we need to make the changes and the effect that the changes will have on you. Unless the circumstances require us to act more urgently, we will give you at least 30 days prior notice.

14. TRANSFER OF THIS AGREEMENT
14.1 We may transfer our rights and responsibilities under this agreement to any person who has the relevant regulatory authorisations to carry out the necessary banking activities and undertakes to carry out all of our responsibilities under this agreement, but only where we reasonably believe that such person is capable of and will perform our responsibilities. In these circumstances, you agree that we will be released from all of our duties and agreements under this agreement. We, or somebody on our behalf, will notify you by email or letter of any such transfer.
14.2 You may not transfer your rights or responsibilities under this agreement to any other person, create security over your account or transfer the ownership of your account to any person unless we agree that you can do so in writing.

15. PRIVACY POLICY HOW WE USE YOUR INFORMATION
15.1 This clause is about the information about you that we hold or obtain and how we are permitted to use that information. This includes information that we receive from you directly, such as the information that you provide to us when you apply for your accounts with us, information that we learn from you through our relationship with you (such as how you operate your accounts), and information that we gather electronically from the technology which is used to access our services (such as your IP address and information on how you use our website including the online account manager).
Using your information to improve our services
15.2 We may use your information to improve our services to you and develop a better understanding of what our customers need from us. For example, we may use your information to look for trends in our customers' preferences and behaviours, as well as develop, test and review our products and services.
15.3 We may use your information to decide what other products and services that we offer might be suitable for you.
Communicating with you
15.4 We will use your personal details, such as your mobile telephone number, address and email address, to communicate with you regarding the services that we provide to you under this agreement and other agreements between us. You can change your options at any time by sending us a secure message when you log on and via the online account manager.
Marketing
15.5 We may also use your information to offer you products or services where you have agreed that we may use your information for this purpose. We may also share your information to selected third parties so that they can offer you products or services where you have agreed that we may share your information for this purpose. If we share your information with such third parties we will take all reasonable steps to require these third parties to treat your information carefully and not to process, store or share your information in a manner that would not be permitted by this agreement or under applicable data protection law.
15.6 If you do not wish for us or selected third parties to use your data for such marketing purposes, please communicate this to us by selecting the relevant option boxes when we collect your information, or as otherwise indicated. You can change your options at any time by sending us a secure message.
15.7 If you allow us or our third parties to use your information for marketing purposes and then later change your mind, please let us know by using the online messaging service in the online account manager or write to us using the contact details in clause 24 of these conditions.
Sharing your personal information to other entities providing services
15.8 We may share your personal information with our third party service providers to assist us with providing our services to you. For example, third party providers may help us to assess and process applications, to conduct background or credit checks required to process your application or to manage our relationship with you. These third parties process your personal information on our behalf and under our instructions and control.
15.9 Where required by law, or where required to assist in the prevention or detection of crime, including fraud, we may share your personal information with law enforcement agencies, government authorities, regulators, fraud prevention agencies or other appropriate partners. We will take steps to ensure that those third parties only use your personal information for the stated purposes.
15.10 We may also share your information with our professional advisers (such as our legal advisers) who will be bound to keep such information confidential and use your information in accordance with the provisions of this agreement.
15.11 We will take all reasonable steps to require all third parties with whom we share data under this clause 15 to treat your information carefully and not to, process, store or share your information in a manner that would not be permitted by this agreement or under applicable data protection law.
Merger or acquisition of our business
15.12 Where Masthaven Bank or substantially all of its business is acquired by a third party, the information we hold about you will be transferred to that third party.
Transfer of our rights under this agreement
15.13 If we transfer our rights and/or obligations under this agreement under clause 14, we will also transfer the information that we hold about you.
Group companies
15.14 We may also share your personal information with other companies in the same group as Masthaven Bank.
Recording calls, emails and other messages between us
15.15 We may monitor, record and store calls, emails or other messages (including messages sent between us through the online account manager). We may use these records for training or quality control purposes. We may also use these records in order to prevent unauthorised use of our telecommunication systems and website, ensure our systems operate effectively, prevent or detect crime, and protect your personal data.
Sharing your information to the authorities
15.16 We may share your information where required by law, or where requested by a law enforcement agency or one of our regulators. We will also handover records of calls, emails and other messages between us on request to such agencies or regulators.
Fraud prevention
15.17 If we suspect that false or inaccurate information has been provided by you and fraud is identified or suspected, we may pass on details of this to fraud prevention agencies.
15.18 Law enforcement agencies may access and use this information. Other organisations will also access and use information that has been provided to these agencies. For example, organisations will access this information when carrying out background checks on job applicants and employees, checking applications, managing credit or other facilities and recovering debts.
Carrying out checks on you
15.19 We may share your personal information with third parties in order to carry out checks against you, such as fraud agencies, credit agencies and other third parties operating external databases to which we have access. These checks may be carried out to check your identity, in order to prevent money laundering, to identify and prevent fraud, or for credit reasons.
Disclosure of information to tax authorities
15.20 If we think that you have tax obligations abroad, we may disclose information about you to relevant tax authorities, or to HM Revenue & Customs, which may in turn disclose your information to those foreign tax authorities. In particular, if you are a US person we may be obliged by the Common Reporting Standard and associated instruments and any other legal or regulatory requirement, to provide any required details about you and your account to the UK and US tax authorities.
Where your information is stored
15.21 All information you provide to us is stored on our secure servers within the European Economic Area ("EEA"). We will only transfer your personal information to a country outside of the EEA where that country ensures an adequate level of protection for you information.
Your right to access information held about you
15.22 The Data Protection Act 1998 gives you the right to access personal information that we hold about you. Please contact us using the details at the end of these conditions if you wish to make such a request. We may require from you a fee of up to £10 to meet our costs in providing you with this information.

16. JOINT ACCOUNTS
16.1 This clause applies where your account is held jointly between two of you.
16.2 Each of you is separately responsible for complying with our agreement including these conditions.
16.3 We may act on the instructions made by any one of you in relation to your account. For example, this means that if one of you instructs us on what to do with your account balance when your account matures, we do not need to check with the remaining account holders. Any one of you will also be able to change your nominated account to which funds will be transferred.
16.4 If we give notice or provide information to any one of you, this will count as notice to all of you.
16.5 If we become aware of a relevant dispute or disagreement between you, we may prevent any of you giving us instructions in relation to your account until the dispute or disagreement has been resolved. For example, we may hold back from transferring your account balance to a nominated account on maturity if there is an ongoing dispute.
16.6 If any of you die, we may continue to act on the instructions of the remaining account holders. However, we are not required to do this and may instead close the account in accordance with clause 6.4.

17. SET OFF
17.1 If any money you owe Masthaven Bank (for example on loan or mortgage) is overdue for payment, we may use any money you have in any of your accounts with us to reduce or repay what you owe, by way of set off. We can use this right of set off against accounts which are in your sole name as well as joint accounts you hold with us. We will tell you at least 14 days before we exercise this right to set off.

18. AUTHORISING ANOTHER PERSON TO OPERATE YOUR ACCOUNT
18.1 You may authorise someone else to operate an existing account(s) you hold with us who is permitted to do so under a valid and effective enduring or lasting power of attorney, or in Scotland a continuing power of attorney, for financial purposes (i.e. a power of attorney that remains or becomes effective when you lose the mental capacity to manage your financial affairs). We will not accept any other power of attorney. Before we allow such a person to instruct us in relation to your account, we will need to see the relevant documentation to satisfy ourselves that the person is authorised to do so. Any authorised person (A), authorised by power of attorney over another person (B), seeking to open an account for person B will be subject to our normal account opening procedures including checks for financial crime. We reserve the right to refuse an application by such an authorised person A for the reasons outlined at 2.11 of these conditions. We will not accept an authorisation until we have seen all of the documentary evidence that we reasonably require. We will not accept an ordinary power of attorney.
18.2 In some circumstances, the law may require us to allow a third party to operate your account, such as if you become mentally incapable, bankrupt or on your death. This may invalidate the authority of any other person you have authorised to operate your account.
18.3 Where another person is authorised by you or otherwise to operate your account, we cannot be liable for any loss caused to you by that person's actions unless we knew that such a person was acting dishonestly. A decision by an authorised third party will be treated as if it were made by you.

19. RESTRICTIONS ON OUR LIABILITY
19.1 We will aim to ensure a continuous service at all times, including the provision of our website and the online account manager. However, we cannot be responsible where we fail to provide
a service due to abnormal and unforeseeable circumstances beyond our control (or beyond the control of third parties acting on our behalf).
19.2 If we are liable for any losses due to an error by us in carrying out your instructions to make a payment, in respect of an unauthorised payment in accordance with clause 12, or otherwise in respect of any payment made from your account, our liability will be limited to a maximum of:
1. the amount of such payment;
2. the amount of any interest and charges you have to pay directly as a result of such error; and
3. the amount of any interest you would have been expected to receive had the error not occurred, assuming such interest would have been calculated at a reasonable market rate. If we are liable we will refund the relevant amount without undue delay.
19.3 In no circumstances will we be liable for any unforeseeable or indirect loss incurred by you should we breach our obligations under this agreement.
19.4 There are also limitations on your liability for unauthorised transactions which are set out in clause 12 above.

20. FINANCIAL SERVICES COMPENSATION SCHEME
20.1 Masthaven Bank Limited is covered by the Financial Services Compensation Scheme ("FSCS"). The FSCS pays compensation to eligible depositors where a bank is unable to meet its financial obligations to those depositors.
20.2 Most individuals and small businesses can benefit from the scheme. However, it is your responsibility to determine whether you can benefit from the scheme.
20.3 In respect of deposits with a bank (such as a deposit made under this agreement), an eligible depositor is entitled to claim up to £75,000. This £75,000 limit relates to the combined amount across all of the depositor's accounts with the bank, including their share of any joint accounts. Therefore, the £75,000 limit does not apply to each separate account held by the depositor.
20.4 For joint accounts, each account holder has their own limit and the account holders could claim £75,000 each under the scheme.

21. COMPLAINTS PROCEDURE
21.1 Information on our complaints procedure can be found at www.masthaven.co.uk
21.2 If you feel that we have not met your expectations and would like to make a complaint, please contact us by using the contact details at the end of these conditions, calling our telephone customer services line 0330 363 6666 or by email [email protected] We will aim to deal with your complaint as quickly as possible.
21.3 If we have been unable to provide you with a final response to your complaint within eight weeks of making your complaint to us, or we have responded to your complaint but you are not satisfied with our response, you have a right to refer your complaint to the Financial Ombudsman Service.
21.4 The Financial Ombudsman Service is an independent organisation whose purpose is to resolve complaints where consumers and financial businesses have not been able to resolve them between themselves.
21.5 You generally have no more than six months from when you receive our final response in relation to your complaint to refer your complaint to the Financial Ombudsman Service.
21.6 The Financial Ombudsman Service's website is: http://www.financial-ombudsman.org.uk/
21.7 You can contact the Financial Ombudsman Service using the following contact details:
Address:
The Financial Ombudsman Service
Exchange Tower
London E14 9SR
Telephone: 0800 023 4567
Email: [email protected] ombudsman.org.uk

22. SEVERABILITY
If any part of these conditions is deemed to be invalid or unenforceable, the other conditions will remain fully effective.

23. GOVERNING LAW
23.1 These conditions and all other aspects of the agreement between you and us are governed by English law. The courts of England and Wales will deal with any legal disputes arising in connection with this agreement.
23.2 All of our communications with you and all other parts of this agreement will be in English.

24. CONTACT DETAILS
If you need to contact us, this can be done in one of the following ways:
Email [email protected]
Post Masthaven Bank, Fourth Floor, 11 Soho Street, Soho, London W1D 3AD
Telephone 0330 363 6666
You can also contact us through the online account manager.