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General Terms & Conditions - Citi UK

Terms and conditions

General

We are making some changes to our terms and conditions, principally as a result of the new EU General Data Protection Regulation (“GDPR”).

The GDPR introduces changes to the way we manage your personal information as well as giving you enhanced rights in respect of the personal information we hold about you. Going forward, everything you need to know about how and why we use your personal information; who we share it with; and what your rights are, will be found in our updated Privacy Statement.

Previously our terms and conditions contained information about what we do with your personal data. From 25 May 2018 you will only need to look at our Privacy Statement. You should review our Privacy Statement regularly to find out what personal information we collect about you and how we use, store and disclose your personal information.

A summary of the other changes we are making to our terms and conditions can be found here. Please read this summary together with the updated terms, which are effective from 25 May 2018.

Insurance

Travel Insurance is now provided by Chubb European Group Limited, previously ACE European Group Limited.

Summary of changes

Changes to our ‘General Terms and Conditions for Citi Current Accounts and Savings Accounts’

We have amended our terms to make it clear that if you are a US Person and you do not provide us with a valid Form W-9 within 30 days following our request to do so, we can terminate your Agreement with us or close your Account by giving you notice.

Changes to our ‘Account Specific Terms and Conditions’

We have now made clear in Condition 5 of the Foreign Currency Deposit Accounts section that:

  • interest is calculated daily and applied to the account on a monthly basis; and
  • interest is calculated on a 365-day basis for Sterling and Hong Kong Dollar Accounts and on a 360-day basis for Accounts in all other currencies.

This does not reflect a change to the way we currently calculate your interest, we have simply clarified this in the updated terms.

Changes to our ‘Terms of Business for Investment and Insurance Services’

We have amended our terms to make it clear that if you are a US Person and you do not provide us with a valid Form W-9 within 30 days following our request to do so, we can terminate your Agreement with us or close your Account by giving you notice.

We have also made the following changes:

  • The contact address of the Financial Conduct Authority (FCA) will change from June 2018 onwards.
  • Revised Regulations mean that from 6 April 2018, the treatment of ISAs on the death of an ISA holder will change. This is now reflected in clause 3.15, Section One.
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