General Terms and Conditions of Kingsgate Bank as an Authorised Agent of BNB Paribas Bank
1. Definitions and Legal Framework
1.1 "Kingsgate Bank": A financial institution duly incorporated and registered in the United Kingdom, with its head office at [United Kingdown], authorised by the Financial Conduct Authority (FCA) to provide financial services as an agent of BNB Paribas Bank. Kingsgate Bank operates under the regulatory oversight of the FCA and adheres to the provisions of the Financial Services and Markets Act 2000 and the Financial Services Act 2012.
1.2 "BNB Paribas Bank": A global financial institution, headquartered in [country], authorised to operate in multiple jurisdictions, including the European Union. BNB Paribas Bank is the principal entity that authorises Kingsgate Bank to act on its behalf as an authorised agent.
1.3 "Client": Any natural or legal person who maintains a contractual relationship with Kingsgate Bank, whether as an account holder, beneficiary of financial services, or any other regulated interaction with the bank.
1.4 "Banking Services": Includes, but is not limited to, the opening of current, savings, and investment accounts, as well as the issuance of debit and credit cards, international transfers, loan and credit management, securities issuance, and other related financial products provided by Kingsgate Bank under the authorisation of BNB Paribas Bank.
1.5 "Authorised Agent": Under the agreement between BNB Paribas Bank and Kingsgate Bank, the latter acts solely as an authorised agent, managing and offering BNB Paribas Bank’s products and services to its clients in strict compliance with applicable laws and regulations.
2. Scope of Services
2.1 Kingsgate Bank, as an authorised agent, is authorised to offer and manage banking products and services on behalf of BNB Paribas Bank, including but not limited to:
Opening and managing current, savings, and investment accounts.
Issuing and managing credit products, including credit cards and personal or business loans.
Wealth and investment management services.
Foreign exchange and international fund transfer services.
Financial advisory and corporate financing solutions.
2.2 Kingsgate Bank and BNB Paribas Bank shall not be liable for services or products that the client contracts outside the scope of those listed above or those provided by unauthorised third parties.
3. Contractual Relationship and Client Consent
3.1 The relationship between Kingsgate Bank and the client is governed by these terms and conditions, which shall be deemed accepted once the client completes the account opening process or contracts any banking service offered by Kingsgate Bank.
3.2 All clients of Kingsgate Bank, by accepting these terms, explicitly consent to Kingsgate Bank acting on behalf of BNB Paribas Bank in the provision of the contracted services. This includes the transfer and processing of the client’s personal and financial data between both entities, in accordance with UK and European Union data protection laws.
4. Account Opening and Management
4.1 Account Opening Requirements: To open a bank account with Kingsgate Bank, the client must submit a completed application along with the required documentation, which may include but is not limited to:
Valid and up-to-date government-issued identification.
Proof of residence and tax status.
Evidence of source of funds and economic activity, in accordance with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) policies.
4.2 Identity Verification and Due Diligence: Kingsgate Bank reserves the right to conduct additional identity verifications, either internally or through third parties, to comply with FCA regulations and international financial crime prevention standards.
4.3 Periodic Account Review: Kingsgate Bank, as an authorised agent of BNB Paribas Bank, may periodically review the client’s account activity and request additional documentation in case of unusual or undeclared movements.
5. Deposits, Withdrawals, and Fund Management
5.1 Deposits: Clients may make deposits into their accounts via available channels, including physical branches, online banking, and international bank transfers. Deposits will be subject to the limits set forth in Kingsgate Bank’s and BNB Paribas Bank’s policies.
5.2 Withdrawals: Clients are entitled to withdraw available funds from their accounts, provided they comply with the product conditions and applicable limits. Withdrawals can be made by bank transfer, branch withdrawal, or ATM, depending on the client’s account terms.
5.3 Deposit Protection: All deposits made by clients of Kingsgate Bank are protected under the UK’s Financial Services Compensation Scheme (FSCS), which covers up to £85,000 per person per authorised bank.
6. International Transfers and Foreign Exchange
6.1 International Transfer Services: Kingsgate Bank provides global fund transfer services through its relationship with BNB Paribas Bank and via the SWIFT network. All transfers are subject to applicable fees, which will be communicated to the client prior to execution.
6.2 Foreign Exchange Conversion: The foreign exchange services offered by Kingsgate Bank allow the client to operate in multiple currencies. Applicable exchange rates will be subject to interbank market rates plus an agreed commission.
6.3 International Compliance: All international transfers are subject to the laws and regulations of the originating and destination countries, including, but not limited to, capital controls and international sanctions imposed by the UK, the European Union, and other global regulatory bodies.
7. Loans and Credits
7.1 Loan Applications: Clients may apply for credit products and personal or commercial loans through Kingsgate Bank. The approval of such products is subject to credit risk evaluation, income verification, and the applicant’s financial solvency.
7.2 Credit Terms: All loans and credit products offered by Kingsgate Bank will include a detailed breakdown of terms and conditions, including applicable interest rates, repayment schedules, late payment penalties, and any other associated charges.
8. Fees, Charges, and Costs
8.1 Fee Structure: Kingsgate Bank will charge fees and commissions for the services provided, as per the prevailing fee schedule at the time the service is contracted. These fees may be amended periodically, with the client being notified at least 30 days in advance.
8.2 Additional Charges: Additional charges may apply for services not included in the original contractual relationship, such as urgent transfers, issuance of special cheques, or specialised financial advisory.
9. Data Protection and Confidentiality
9.1 Data Processing: Kingsgate Bank guarantees that all client personal and financial data will be processed with the highest level of confidentiality and in accordance with the UK Data Protection Act 2018 and the General Data Protection Regulation (GDPR).
9.2 Consent to Share Data: The client consents to Kingsgate Bank sharing their personal information with BNB Paribas Bank and other necessary entities for the provision of contracted services, provided such data transmission complies with applicable laws.
10. Dispute Resolution
10.1 Complaint Procedure: If the client wishes to file a complaint about any service provided by Kingsgate Bank, they must submit it in writing to the bank in the first instance. Kingsgate Bank will respond to the complaint within 15 business days.
10.2 Escalation to Regulatory Authorities: If the resolution provided is not satisfactory, the client may refer the matter to the Financial Ombudsman Service or the courts of the United Kingdom, in accordance with applicable jurisdiction.
