Online Banking Service Agreement

Prime Financial Group Online Banking Service Agreement

Effective Date: September 5, 2023.

1.
General Description of Prime Financial Group Online
Banking Service Agreement

A. What This Agreement Covers

This Agreement is between each owner of an eligible account, a person applying for an eligible account, or authorized representative appointed or entitled to online access on another person’s behalf (“you” or “your”) and Prime Financial Group Ltd (Prime Financial Group). This Agreement governs your use of any online or mobile banking services maintained by Prime Financial Group and accessible through primefinancialg.com using a personal computer or a mobile device, including a smartphone, tablet, or any other eligible handheld or wearable communication device (the “Service(s)”).

Under the terms of this Agreement, you may use the Services to obtain financial products and services, access and view account information, and, for certain accounts, move money electronically and perform authorized transactions, for eligible Prime Financial Group consumer and small business accounts linked to the Service.

When used in the Agreement, the term “small business” includes sole proprietors, non-consumer business entities, and individual owners of the business, unless the context indicates otherwise. If you are a small business customer, additional or different terms and conditions applicable to the Services, as well as additional Services available exclusively to small business customers, are included in the Business Services Addendum, which is a part of this Agreement.

When you first set up your Online/Mobile ID, we will link all of your eligible Prime Financial Group accounts, including joint accounts. If you open an additional eligible account at a later date, we will link your new account to the Service, unless you tell us not to do so. Unless indicated otherwise by the context, “linked Prime Financial Group accounts” or “linked accounts” refers to all of your accounts with Prime Financial Group that are linked to the Service.

When your Service is linked to one or more joint accounts, we may act on the verbal, written or electronic instructions of any authorized signer.

Please note that some of the Services may not be available at all times or when using certain digital devices or applications. For example, some functions may be available online through a personal computer but not available through our mobile app.

B. Accepting the Agreement

When you apply for, enroll in, activate, download or use any of the Services described in this Agreement or authorize others to do so on your behalf, you are contracting for all Services described in the Agreement and agree to be bound by the terms and conditions of the entire Agreement, as well as any terms and instructions that appear on a screen when enrolling in, activating or accessing the Services.

C. Relation to Other Agreements

Your use of the Services may also be affected by your Deposit Agreement and Disclosures, including the applicable schedule of fees (“Deposit Agreement”), or other agreement with us for your linked Prime Financial Group accounts and/or an agreement with our affiliates for your affiliate accounts linked to the Service. When an account is linked to the Services, it does not change the agreements you already have with us for that account and you are still subject to the terms and conditions we gave you in the agreement and disclosure for the linked account. The terms and conditions for those account agreements, including any applicable fees, transaction limitations, liability rules and other restrictions that might impact your use of an account with the Services, are incorporated into this Agreement. In the event of a conflict between the terms of those account agreements and this Agreement, the terms of the applicable account agreement will prevail unless this Agreement specifically states otherwise.

2.
Internal Transfer Services

A. Transfers Between Your Accounts

You may use the Service to transfer funds between your linked Prime Financial Group accounts without a fee on either a one-time or recurring basis.

Transfer From Transfer To $ Limit1 Cut-off Time (all times are London time)

Your Checking/Savings account Your Checking/Savings account £9,999,999.99 17:00

Your Checking/Savings account Your Investment account £9,999,999.99

Your Investment account Your Checking/Savings account £100,000 per day £250,000 per week

1/ Higher limits may apply for certain Prime Financial Group account types. Please contact us for details.

One-time transfers may be made at any time and are immediately debited from a checking or savings account’s available balance.

Future dated or recurring transfers scheduled for a weekend or a bank holiday will be debited from the funding account on the prior business day.

All other scheduled and recurring transfers will be debited from the funding account at the beginning of the business day requested.

Future scheduled and recurring transfers can be canceled prior to midnight on the business day prior to the date the transfer is scheduled to be made.

A one-time immediate transfer cannot be canceled after it has been submitted.

B. Transfers to Someone Else Using Their Account Number

Our easy-to-use online platform allows clients to quickly check live exchange rates, execute trades, schedule future dated transactions, and manage international payments across currencies from a single login. Advanced features include rate alerts, detailed transaction histories, customizable workflows and approvals, and API integrations.

3.
Real Time Payments Service

A. Description of Service

You can use the Real Time Payments Service (“RTP”) to receive a Request for Payment (“RFP”) from other individuals or businesses with a bank account at a financial institution participating in RTP (“hereinafter Payee”) and to pay such RFPs from an eligible checking account to that Payee using RTP.

B. Eligibility and Enrollment

Transfers using RTP may be made only in British Pounds and only between accounts at banks located in the United Kingdom that are participating in RTP. When you enroll to use RTP to receive RFPs or send payments, you agree to the terms and conditions of this Agreement. You represent that you have the authority to authorize payments from the enrolled bank account.

You agree that you will not send money to anyone for any purpose that is prohibited by law.

You may make payments using your Prime Financial Group consumer checking account. We may require you to validate certain account information before you are permitted to send a payment using RTP. We reserve the right to suspend or terminate your use of RTP if we believe, in our sole discretion, that you are using the Service for other purposes, or if we believe you are using the Service in a manner that exposes Prime Financial Group to liability, reputational harm or brand damage.

C. Sending a Payment

Upon your receipt of a RFP, you may respond by making a payment in an amount you designate to the Payee submitting that RFP or you can elect to disregard the RFP. You may make a one-time immediate payment or a future-scheduled payment in response to a RFP. Recurring payments are not available at this time. You may make payments 24 hours a day, 7 days a week, including weekends and bank holidays.

By making a request to send a payment, you authorize us to debit your account for the amount of the payment and to transfer that amount to the Payee you designate. You also understand that your account will be debited immediately for a one time immediate payment, or on the date you have scheduled for a future-scheduled payment, in the amount you have designated and a transfer will be made in real time to that Payee’s financial institution.

However, we do not control when the financial institution will credit the intended Payee’s account or when your account with the Payee will reflect the payment. If we fail to process a payment in accordance with your properly completed instructions and the RTP requirements, we will reimburse you for any late payment fees charged by the Payee, in addition to any other remedies that may be available to you under Section 7 of this Agreement.

Since all payments are irrevocable and cannot be reversed, you should be careful to verify that the RFP you receive is from a Payee you know and trust and that the amount you enter is correct before sending a payment. We make no representations or warranties that the information contained in a RFP is accurate and complete. It is your responsibility to verify the accuracy of that information prior to sending a payment. You will still be responsible for any payment you authorize us to make even if you enter the wrong amount. We will not be liable for any typographical, keystroke or other errors made by you

D. Fees

There is no fee for receiving a RFP or making payments in response to a RFP using RTP.

E. Cancellation

Immediate transfers made using RTP are irrevocable and cannot be reversed or stopped once made. Future-scheduled payments may be canceled by 11:59 p.m. on the business day prior to the scheduled transfer by going to the Transfers section of the Prime Financial Group website and selecting the appropriate activity tab.

F. Limits

The following limits will apply to payments sent using RTP:

Every 24 hours Every 7 days Every Month
Consumer checking £3,500 / 10 transactions £10,000 / 30 transactions
£20,000 / 60 transactions

4.
Error Resolution Procedures for
Consumer Accounts

A. In Case of Errors or Questions About Your Electronic Transactions

Your statement or transaction record is wrong
You need more information about a transaction listed on your statement
An unauthorized person has discovered your password for the Services
Someone has transferred or may transfer money from your account without your permission

We must hear from you no later than 60 days after we have sent the FIRST statement on which the problem or error appeared.

When you contact us, please provide the following information:

Your name and account number
The date and dollar amount of the transaction in question
The name of the Payee if the transaction in question is a payment
The transaction number assigned, if available
A description of the transaction about which you are unsure

Please explain as clearly as you can why you believe there is an error or why you need more information.

We will determine whether an error occurred within 10 business days after we hear from you, and we will promptly correct any error we have made. If we need more time, however, we may take up to 45 days to investigate your complaint or question. In this case, we will provisionally credit your account within 10 business days for the amount you think is in error, so that you have the use of the money during the time it takes us to complete our investigation.

We will tell you the results within 3 business days after we complete our investigation. If we conclude there was no error, we will send you a written explanation. You may request copies of the documents that we used in our investigation.

B. Limitation of Liability for Online Banking Transactions

Tell us at once if you believe your password has been compromised or if someone has transferred or may transfer money from your account without your permission. The best way to minimize your loss is to call us immediately at 1111111111.

You will have no liability for unauthorized transactions if you notify us within 60 days after the statement showing the transaction has been sent to you. If you do not, you may not get back any of the money you lost from any unauthorized transaction that occurs after the close of the 60-day period, if we can show that we could have stopped the transaction if you had notified us in time.

You agree that Prime Financial Group may use any means or routes which we in our sole discretion consider suitable to execute your transfer. For transfers in British Pounds to a non-US account, your payment may be converted into the local currency by any originating, intermediary or receiving bank, payment system or payment service provider, including Prime Financial Group or an affiliate, as applicable. We and/or an affiliate include a markup or fee on such currency conversion and may profit in connection with any such currency conversion.

C. Our Liability for Failure to Complete Transactions

If we fail or delay in making a payment or transfer pursuant to your instructions, or if we make a payment or transfer in an erroneous amount that is less than the amount per your instructions, unless otherwise required by law, our liability shall be limited to interest on the amount that we failed to timely pay or transfer, calculated from the date on which the payment or transfer was to be made until the date it was actually made or you canceled the instructions. We may pay such interest either to you or the intended recipient of the payment or transfer, but in no event will we be liable to both parties, and our payment to either party will fully discharge any obligation to the other.

5.
Fees

Fees

There are no service fees for the use of the Prime Financial Group Online Banking Services, unless otherwise noted.

Normal account fees and service charges may apply in accordance with your Prime Financial Group account agreements.

6.
Additional Provisions

A. Protecting Your Password

Contact us immediately at 1111111111 if you think your password may have been compromised, or you believe there has been unauthorized activity on your account.

You agree that we may send notices and other communications to the current address shown in our records. You agree that Prime Financial Group will not be responsible or liable to you in any way if information is intercepted by an unauthorized person, either in transit or at your place of business.

You agree to keep your password secure and strictly confidential, providing it only to authorized signers on your account(s). You agree to instruct each authorized signer to not disclose the password to any unauthorized person. You also agree to immediately notify us and select a new password if you believe your password may have become known to an unauthorized person.

B. Acknowledgment of Security Procedures

By using the Services, you acknowledge and agree that this Agreement sets forth security procedures for electronic banking transactions that are commercially reasonable. You agree to be bound by instructions, whether authorized or unauthorized, which we implement in compliance with these procedures, unless you have given us prior notice of possible unauthorized use as described above.

C. Limitation of Prime Financial Group Liability

If we make a payment or transfer in an erroneous amount that exceeds the amount per your instructions, or if we permit an unauthorized payment or transfer after we have had a reasonable time to act on a notice from you of possible unauthorized use as described above, unless otherwise required by law, our liability will be limited to a refund of the amount erroneously paid or transferred, plus interest thereon from the date of the payment or transfer to the date of the refund, but in no event to exceed 60 days’ interest.

If we become liable to you for interest compensation under this Agreement or applicable law, such interest shall be calculated based on the Bank of United States Base Rate for each day interest is due.

Unless otherwise required by law, in no event will Prime Financial Group be liable to you for special, indirect or consequential damages including, without limitation, lost profits, even if we are advised in advance of the possibility of such damages. We shall not be liable for your attorney’s fees, except as required by law.

You expressly agree that Prime Financial Group shall be liable to you only for our negligent performance or non-performance of the services, and that our responsibility shall be limited to the exercise of reasonable and ordinary care. Unless otherwise required by law, Prime Financial Group shall not be liable for any error or delay on the part of any third party or for any other act or omission of any third party.

We do not accept any liability for our exchange rates. Any and all liability relating to currency conversion rates provided is disclaimed, including without limitation, direct, indirect or consequential loss, and any liability if our exchange rates differ from rates offered or reported by third parties, or rates offered by us at a different time or location.

7.
Disclaimer of Warranties

Disclaimer of Warranties

Except as otherwise provided herein, neither we nor our vendors make any express or implied warranties, representations or endorsements whatsoever with respect to the services. We and our vendors expressly disclaim all warranties of any kind, express, implied or statutory, including, but not limited to, implied warranties of merchantability, fitness for a particular purpose, title and non-infringement, with regard to the services described or provided.

Neither we nor our vendors warrant that the services will be uninterrupted, timely, secure or error-free, or that defects will be corrected. The services are provided on an “as is” and “as available” basis.

8.
Limitation of Liability

Limitation of Liability

Except as otherwise provided herein, in no event will we or our vendors be liable for any damages whatsoever arising out of

(i) any transaction conducted through the services;
(ii) any claim attributable to errors, omissions, or inaccuracies in the services;
(iii) unauthorized access to your data or transmissions, or
(iv) any other matter relating to the services, even if we have been advised of the possibility of such damages.

If you are dissatisfied with the services or this agreement, your sole and exclusive remedy is to discontinue using the services.

In no event will we be liable to you for special, indirect or consequential damages including, without limitation, lost profits or attorney’s fees, even if we are advised in advance of the possibility of such damages.

9.
Indemnification

Indemnification

You agree to indemnify, defend and hold harmless Prime Financial Group and its vendors from and against all claims, losses

10.
Service Hours

Service Hours

The Services are available 24 hours a day, 7 days a week, except during system maintenance and upgrades. When maintenance occurs, a message will be displayed when you sign in.

Our Client Services team is available Monday through Friday from 8:00 a.m. to 6:00 p.m. London time, excluding bank holidays, and can be reached at 1111111111 or info@primefinancialg.com

You may also write us at: Prime Financial Group Ltd 8th & 19th Floors, 100 Bishopsgate London EC2N 4AG UNITED KINGDOM

11.
Business Days

Business Days

For the Services, our business days are Monday through Friday, excluding US bank holidays.

12.
Changes to Agreement

Changes to Agreement

We may add, delete or change the terms of this Agreement at any time. We will inform you of changes when legally required and will try to notify you of material changes even when not legally obligated to do so. We may communicate changes by mail, email or website notification.

The updated terms will be available on our website.

By continuing to use the Services after the changes are posted, you agree to be bound by the revised Agreement. If you disagree with a change, you may discontinue using the Services.

13.
Cancellation

Cancellation

The Services remain in effect until terminated by you or Prime Financial Group. You may cancel the Services anytime by contacting us. We recommend canceling scheduled payments before discontinuing the Services; otherwise, we will cancel scheduled payments within two business days of receiving your cancellation request. The Services will also end if you close all linked accounts.

We may terminate the Services or your participation in them for any reason at any time. We will attempt to notify you in advance but are not obligated to do so.

14.
Disclosure of Account Information

Disclosure of Account Information

We may disclose information about your accounts to credit bureaus, merchants participating in rewards programs, and other persons or agencies who have a legitimate purpose for obtaining information, as described in your account agreements.

By using the Services, you consent to the Electronic Communications Disclosure, allowing us to provide account information electronically by secure mailbox, email, website posting or other electronic means. It is your responsibility to provide a valid email address and notify us of any email changes.

We make security and protection of your information a priority. Our Online Privacy Policy and Privacy Notice, available at https://primefinancialg.com/privacy-policy, explain how we treat your data and are incorporated into this Agreement.

15.
Consent to Electronic Communications

Consent to Electronic Communications

As part of enrollment, you consented to receiving account communications electronically. We will deliver these by secure mailbox, email, website posting or other electronic means. It is your responsibility to provide a valid email address and notify us of any email changes.

We make security and protection of your information a priority. Our Online Privacy Policy and Privacy Notice, available at Privacy Policy, explain how we treat your data and are incorporated into this Agreement.

16.
Governing Law

Governing Law

This Agreement will be governed by and interpreted in accordance with the laws of England and Wales. Any dispute between you and rime Financial Group regarding this Agreement shall be subject to the jurisdiction of the courts of England and Wales.

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