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Izola Saver Terms & Conditions

  1. INTRODUCTION

These Terms and Conditions govern your Izola Saver account which is a savings account and your Izola Saver + account which is a fixed term deposit account.

They should be read in conjunction with the Izola Bank General Terms and Conditions.

 

  1. DEFINITIONS

In these Terms and Conditions, unless the context otherwise requires, the following terms shall have the meanings ascribed to them hereunder:

Account: A savings account known as an Izola Saver account or a term deposit account known as an Izola Saver+ account.

Account Opening Form: The Account Opening Form is filled in online, printed and signed and returned to the Bank. It forms the basis of the contractual relationship between you and the Bank.

Bank, we or us:  Izola Bank plc.

Business Day: A day when the Bank is open for business in Malta.

Customer ID: Your eight digit number assigned uniquely to you which you need to use to login in to your Izola Saver account. The Customer ID is provided as soon as you have submitted the Account Opening Form. You will retain the same Customer ID if you open additional Izola Saver accounts. If a joint account is opened each Izola Saver account holder will have their own unique Customer ID.

Eligible Institution: A credit institution licensed to carry on the business of banking in Malta, Belgium or France.

Initial Deposit: A minimum amount of EUR 25 which must be transferred from the Principal Account before the Izola Saver Account can be activated.

Internet Banking: The secure pages of our Website where you will have access to your Izola Saver and Izola Saver+ accounts.

Izola Saver Account: An online only savings account with a variable rate of interest.

Izola Saver+ Account: An online only fixed term deposit account which is opened by transferring an amount from your Izola Saver Account through Internet Banking.

Izola Saver Helpdesk: Izola Bank support staff that can be reached by telephone on Freephone number 080077800, by chat through https://belgium.izolasaver.com or by email on helpdesk@izolasaver.com. The Helpdesk is open Monday to Friday from 08:00 hrs to 17:00 hrs CET on Business Days. The mailing address is Izola Saver Helpdesk, Izola Bank p.l.c., 58 East Street, Valletta VLT1251, Malta.

Principal Account: We refer to an existing bank account in your name as your ‘Principal Account’. A deposit of funds into an Izola Saver savings account can only be made through a bank account that you already hold in your name at an established bank in Malta, Belgium or France depending on your residency. You will be asked to enter the IBAN number of this bank account on your Izola Saver Application form. We refer to this bank account as your ‘Principal Account’.  In the case of a joint account, the Principal Account must also be an existing bank account held in both your names. Transfers into the Izola Saver must come from your Principal Account and all transfers out of the Izola Saver account must go to your Principal Account. You can open as many Izola Saver accounts as you like. However each Izola Saver account opened must be linked to a unique Principal Account.   

Security Information: Customer ID and secret question/answer.

SEPA Direct Debit: A mandate form authorising Izola Bank to send a direct debit request to your Principal bank to debit your account and transfer funds to your Izola Saver account.

Website: Refers to www.izolasaver.com

 

  1. INFORMATION ON YOUR IZOLA SAVER ACCOUNT

The Izola Saver account is an online only savings account with a variable rate of interest.

Interest is calculated on a 360 day basis on the daily outstanding balance on your Izola Saver account at the end of the day and is credited annually to your Izola Saver account on 31 December.

Interest will be paid gross (without tax being deducted). You are encouraged to read Section 12 'Taxation and Declarations' of these terms and conditions carefully. The Bank will inform the Maltese Commissioner of Inland Revenue of the amount of interest paid to you in accordance with the Income Tax Act or the European Union Savings Directive.

It is available as an individual or joint account for two natural persons. The Izola Saver account is not available for companies and other bodies corporate, trusts or charities.

All account holders must be at least eighteen years old.

To be eligible to open an Izola Saver account you must have a Principal Account opened with an Eligible Institution in your name in the case of an individual account or in both your joint names in the case of a joint account. If for any reason the Principal Account is closed, then we will immediately close your Izola Saver account. 

The Bank will only accept a deposit of funds into the Izola Saver account by a transfer from the Principal Account. You can make a withdrawal from your Izola Saver account only by transferring funds back to the Principal Account. Any funds received by the Bank for the credit of an Izola Saver account which are not originating from the linked Principal Account will be immediately returned to the originating account. We will always advise you of rejected funds.  

The Izola Saver account is denominated in the euro currency (EUR) only.

You must leave a minimum balance of EUR 25 on your Izola Saver account at all times so the Initial Deposit must also be of a minimum of EUR 25.

There is no upper limit on the balance you can hold in your Izola Saver account.

There is no limit as to how many Izola Saver accounts you can open as long as each Saver account is linked to a unique Principal Account.

The interest rate on your Izola Saver account is variable so it can be changed at any time at the Bank’s discretion. The current interest rate payable on your Izola Saver account is always displayed in the ‘’About Us’’ section on the Izola Saver website. We will notify you of any change in the Izola Saver interest rate by sending you an email and by updating the prevailing interest rate on the Website. 

The Bank offers banking services in three countries: Malta, Belgium and France. We set our interest rates depending on market conditions prevailing in each of these countries. The interest rate applicable to your Izola Saver account will depend on your country of residence.

You will receive an annual paper statement of account after each year end which will list all transactions into or out of the Account for the 12 month period from 1st January to 31st December. You are obliged to review this statement carefully and inform us immediately of any inaccuracies which we will promptly investigate and rectify if mistakes have occurred. If you do not contact us with any objection within 60 days from dispatch to you of the statement, we will assume that you have accepted the contents of this statement.

There are no fees or charges for opening or maintaining an Izola Saver account.

 

  1. OPENING AN IZOLA SAVER ACCOUNT

To open an Izola Saver account you must complete and return the signed Account Opening Form together with a photocopy of the identity card showing clearly the identification number of the National Register of each account holder and a recent proof of address which was issued within the last six months. This can be a utility bill such as a water & electricity /or gas bill or perhaps a bank statement which clearly indicates your permanent residential address and is in your name. The proof of address may be submitted to Izola Bank by e-mail as long as it is clearly legible.

You must also make an Initial Deposit of at least EUR 25 which must be made from the Principal Account. 

The Izola Saver account opening process will only be finalised once all account opening checks have been completed by us and the Initial Deposit is received. If we cannot successfully carry out these checks within 30 days of receipt of your application to open the Izola Saver account, we may reject your application, and return your Initial Deposit to the Principal Account. In this case we will not consider that your Izola Saver account was ever opened. 

Once all account opening checks are completed to our satisfaction, your Izola Saver account will be activated.

 

  1. ACTIVATION OF YOUR IZOLA SAVER ACCOUNT

Once your Izola Saver Account is activated by us, you will receive an email on your email address specified in the Account Opening Form which contains an activation link to a first-time login screen. When you click on the emailed link, an activation code is generated immediately and sent to you via
email. The page that you are directed to requires two inputs: one is the Customer ID number (this you already have it was sent to you separately when you filled in and submitted the Application form). The other input is the activation code which you will receive by email.

ou then input your Customer ID number and activation code. If these are correct, you are asked to provide a password of your choice and to confirm it. This password must be at least 6 to 10 alphanumeric characters in length, and contain at least one uppercase letter, one lowercase letter,
one number and one symbol eg: Abc!23.

You are then asked to provide a ‘secret answer’ to a question that you select. The system displays a successful password creation message. You are then presented with the normal login page. On this page you will enter your Customer ID (sent separately with your account opening) and the password which you have just created. You will then be able to log in for the first time.

Once you access Internet Banking by entering your Customer ID and password you acknowledge and agree that all transactions you enter and confirm cannot be cancelled or revoked.

 

  1. PAYMENTS INTO AND OUT OF YOUR IZOLA SAVER ACCOUNT

The Bank will only accept a deposit of funds into the Izola Saver account by a transfer from the Principal Account. Any funds received by the Bank for the credit of an Izola Saver account which are not originating from the linked Principal Account will be immediately returned to the originating account. We will always advise you of rejected funds. No cash or cheque deposits are accepted. 

Incoming funds will be credited to the Account on the day of receipt. Funds received after 14.00 hrs CET will be credited to the Account on the next Business Day.

At our discretion we may refuse to accept a payment received for the credit of your Izola Saver Account in which case we will reject this deposit and return the funds to the originating Principal Account. We will advise you of all such rejections. 

You can use the Izola Saver website itself to transfer funds into your Saver account by using a SEPA (Single European Payment Area) direct debit. During the online application process (or even later once you have opened your Izola Saver account), you can sign a SEPA direct debit mandate authorising Izola Bank to send a direct debit request to your bank to debit your Principal Account and transfer funds to your Izola Saver account.

Once your SEPA direct debit is set up you need only to enter the amount you wish to transfer from your Principal Account and confirm that transaction. Izola will send a direct debit request for you to your bank to transfer those funds to your Izola Saver account. There is no charge for this transfer. 

If you use this method of transferring funds to your Izola Saver account, you must allow nine weeks to elapse before you can transfer these funds out of your Izola Saver account for whatever reason. This is due to SEPA direct debit terms and conditions.

You can make a withdrawal from your Izola Saver account only by transferring funds back to the Principal Account. 

You can withdraw all the funds available on your Account except for the minimum amount of EUR 25.

We will execute all your payment transfer instructions by SEPA Credit Transfer (SCT). You should allow up to one Business Day for the funds to be credited to your Principal Account. 

If you enter your transfer instruction on Internet Banking after 14.00 hrs on a Business Day, or on a day which is not a Business Day, then the transfer will be effected on the following Business Day. 

At our discretion we may refuse to accept a payment transfer request. We will advise you of all such refusals. 

 

  1.      INFORMATION ON YOUR IZOLA SAVER+ ACCOUNT

An Izola Saver+ account is a term deposit account which you open online through Internet Banking once you have already opened your Izola Saver account. You can open term deposits for periods from 1 up to 5, 7 and 10 years.

Once you have opened an Izola Saver+ account you cannot ‘break’ this term deposit. The principal amount will be available only on the maturity of the term deposit. 

Interest is calculated on a 360 day basis and is paid into the Izola Saver account you selected as the source account when you opened the Izola Saver+ term deposit.

The interest rate on your Izola Saver+ account is fixed for the period you selected when opening your term deposit. During the opening of an Izola Saver+ account you will be provided with the duration of the term as well as the applicable interest rate before confirming the transaction. We can change the interest rates for Izola Saver+ accounts at our discretion. We shall advise you of all changes in term deposit interest rates by email and by updating the prevailing interest rates on the Website. Any change in rates will not affect any existing Izola Saver+ accounts but will affect any new Saver+ accounts you open after the rate change is advised.

The Bank offers banking services in three countries: Malta, Belgium and France. We set our interest rates depending on market conditions prevailing in each of these countries. The interest rate applicable to your Izola Saver+ account/s will depend on your country of residence.  

Interest will be paid gross (without tax being deducted). You are encouraged to read Section 12 'Taxation and Declarations' of these terms and conditions carefully. The Bank will inform the Maltese Commissioner of Inland Revenue of the amount of interest paid to you in accordance with the Income Tax Act or the European Union Savings Directive.

We will not issue any confirmations on the opening of Izola Saver+ accounts. You can view your Izola Saver+ accounts on the Account Overview screen through our Internet Banking. All accounting entries in relation to your Izola Saver+ account can be seen in the Recent Transactions screen or on the annual statement provided for the Izola Saver account you selected as the source account when you opened the Izola Saver+ term deposit. 

There are no fees or charges for opening or maintaining an Izola Saver+ account.

 

  1. OPENING AN IZOLA SAVER+ ACCOUNT

You have to log on to Internet Banking and click on the tab ‘Create Term Deposit’ to open the page ‘Create Term Deposit Account’. You will need to select the Izola Saver Account from which the funds will be transferred to create the term deposit, enter the amount of your deposit, select the duration ,
and select (if applicable) when you to want to receive your interest (quarterly, six monthly or on an annual basis).

Once you have confirmed the transaction, the term deposit will be immediately opened. You can view the term deposit details in the account overview section of Internet Banking. The EUR 25 initial deposit on the Izola Saver account will blocked and cannot be used. This fee will only be returned if the
account is closed.

 

  1. PAYMENTS INTO AND OUT OF YOUR IZOLA SAVER+ ACCOUNT

A minimum amount of EUR 500 is required to open a term deposit. 

On maturity of the term deposit or when interest payments are due, all amounts are paid directly to the Saver account you selected when opening the term deposit..

You will not be advised when your term deposit has matured. The maturing principal amount and related interest will automatically be credited to the Saver account you originally selected to open the maturing term deposit.

No payments can be made out of this account.

 

  1. JOINT ACCOUNTS

Two customers applying to open the same Account are deemed to be joint Account holders.

Customers who are joint Account holders acknowledge and agree that they shall be jointly and severally liable for any obligation incurred on the Account/s.

Each joint Account holder has their own Customer ID and can log on to the Internet Banking separately to perform transactions. In other words the Bank will accept instructions through Internet Banking from either joint Account holder to transfer funds, open a term deposit account or to close an Account/s without any reference to the other joint Account holder. 

Similarly the Bank can provide any information on your joint Izola Saver or Izola Saver+ accounts to either joint Account holder. Additionally Joint Account holders agree and authorise the Bank to act on information given by either of the Joint Account holders.

Correspondence sent by post shall be sent to the mailing address of the First Account Holder indicated in the Account Opening Form and is deemed to be a valid and final notification to both joint Account holders. 

In the event the Bank is notified in writing that one of the joint Account holders has died, the Bank shall only take instructions relating to the Account/s from the appointed Notary. All payments made from the Account/s before receipt of the written notice of death will be valid and binding on the heirs/legatees and the surviving Account holder.

 

  1. YOUR COMMITMENT TO US 

You shall inform us immediately, by calling the Izola Saver Helpdesk, through chat or by sending us an email, of any changes to your personal details submitted in the Account Opening Form.

It is your responsibility to keep your Security Information and password safe. Any failure to keep the information confidential will be considered as a gross negligence according to Book VII of the Belgian Code of Economic Law.

You must not reveal your Security Information to anyone except when you call the Izola Saver Helpdesk.

You must not give your password to anyone. You will never be asked for your password when calling the Izola Saver helpdesk. 

You must keep your Customer ID and password separate at all times.

You must notify the Izola Saver Helpdesk immediately of any unauthorised access to Internet Banking or any unauthorised transaction or instruction which you know of or suspect.

If you are a politically exposed person or related to or closely associated with a politically exposed person you are required to declare this on the Account Opening Form. You also undertake to advise us if you become a politically exposed person or someone related to you or closely associated with you become a politically exposed person at any time subsequent to the opening of your Izola Saver account/s.

You must always provide Izola Bank with any new ID/Passport copies as well as new proof of address, should this change.

 

  1. TAXATION AND DECLARATIONS 

Your Izola Saver account is classified in Belgium as a non-regulated Savings Account. The interest income received on the Account is not subject to Belgian withholding tax. It is however subject to income tax at a rate of 30%. Individual taxpayers therefore have to declare the said income in their
personal income tax return in Box VII ("Income from capital and movable goods") as "other income not subject to withholding tax that is taxable at 30%" under code 1444-11 / 2444-78. We will provide you with an annual paper statement of your Saver account which will be sent immediately after the end of
each year. You can also check the total interest earned on your Saver and Saver+ account(s) from the “Annual Interest Statement” tab on our internet banking site.

As a Belgian individual taxpayer you also have to declare in Box XIV (unser code 1075-89) of your personal income tax return that you hold the account and that you have notified the existence of this account to the Central Point of Contact at the National Bank of Belgium.

 

  1. SECURITY

 

We will do our utmost to prevent unauthorised access to your Izola Saver account. We reserve the right to immediately block all access to your Izola Saver account if we have reason to believe there has been, or there is a real threat of, an attempt at unauthorised access.

You must read the Security page on our site www.izolasaver.com before accessing Internet Banking. You recognise that Internet Banking is accessed via the internet which is a public system over which we have no control. It is your duty to ensure that any computer, tablet or other device which you use to access Internet Banking is free from and adequately protected against computer viruses.

We will not be responsible for any loss or damage to your software, computer, computer networks, data or other equipment caused by using Internet Banking, unless such loss or damage is directly and solely caused by the Bank’s gross negligence. 

 

Procedure if you forget your Password

If you have forgotten your password but you still remember your Customer ID number, you must input your Customer ID number in the login area and click on ‘Forgotten Password’.
At this point, an email will be sent to you containing a clickable link. When you click on this link an activation code is generated and sent to you via e-mail. The page that you are directed to once you click the link will ask you for your Customer ID and the activation code received by e-mail. Once these are inputted correctly you will be asked to enter a new password.
Once you have successfully created a new password you will receive an email confirming that your password has changed and asking you to contact the Izola Saver Helpdesk immediately if you did not initiate the change password request yourself.

 

Procedure if you forget your Customer ID

If you forget your customer ID, you should call the Izola Saver Helpdesk. Izola staff will ask you a few questions to verify your identity. If the answers are correct, Izola staff will provide you with your Customer ID number and instruct you to use the ‘Forgotten Password’ functionality described immediately above.

 

  1. DISRUPTION OF SERVICE

We have to suspend Internet Banking access from time to time in order to carry out routine or emergency maintenance work. We shall always endeavour to give you advance notice of any interruption in service by means of a notification on the Website or by sending you an email.

 

  1. COMMUNICATION

We agree to communicate by phone, email, chat or post. Our mailing address is IzolaSaver Helpdesk, Izola Bank plc, 58 East Street, Valletta VLT1251, Malta. Our email address is helpdesk@izolasaver.com. Our telephone numbers are 080077800 free phone or +35621241258.

We will contact you using the most recent phone, email or postal address you provided. You undertake to inform us immediately of any change to these details by calling the IzolaSaver helpdesk.

 

  1. LIABILITY

To the fullest extent permitted by law, and except to the extent that loss or damage is caused directly by the Bank’s gross negligence or wilful misconduct, the Bank shall not be liable to you for any loss or damage that you may suffer as a result of the use of the Bank’s products or the Bank’s services. In particular, but without limiting the generality of the foregoing, the Bank will not be liable for the delay in performing or failure to perform the obligations hereunder if the delay or failure results from events or circumstances outside the Bank’s reasonable control.

The Bank shall not be liable for any loss or damage caused to you resulting directly or indirectly from events of force majeure or measures taken by local or foreign legal or regulatory authorities.

The Bank shall not be liable for any direct or indirect loss of profit, goodwill, business nor for any indirect or consequential loss or damage.

 

  1. INDEMNITY

You shall indemnify and hold the Bank harmless from any loss or damage suffered by any person as a result of your breach of any of these Terms and Conditions

 

  1. CONFIDENTIALITY AND DATA PROTECTION

The Bank shall not communicate to a third party any confidential information relating to you, your assets, or the income and profits generated by the assets held in accounts, unless you have expressly authorised it to do so or as required by law or by any regulation.

The Bank will not be held responsible for divulging confidential information about you or your Izola Saver or Izola Saver+ account/s to an unauthorised person over the phone if such person is able to supply us with the information we would normally request to identify you such as the secret answer to a question and other personal information.

During the supply of the services specified in these Conditions, the Bank may process your personal data according to the requirements of the Data Protection Act (Chapter 440 of the Laws of Malta). You may have disclosed such data to the Bank in any manner and primarily through completion of the Account Application Form or other forms. Any processing of your personal data will be used for the following purposes:

(a) To manage the Account(s);

(b) To issue you with a relevant correspondence and provide the required products and services;
 

(c) For internal assessment and analysis (including credit and/or behaviour scoring, market and product analysis) and for the purposes of developing and improving the Bank’s products and services;

(d) For the detection and prevention of fraud and other criminal activity which the Bank is bound to report to competent crime investigative and prosecuting authorities or other bodies;
 

(e) For direct marketing, such as to inform you by mail, telephone or email about other products and services supplied by the Bank, and for research purposes, with your consent.

As permitted or required by law, the Bank may disclose your information to Governmental bodies and agencies or regulators. Personal data in relation to transactions effected via SWIFT (Society for Worldwide Interbank Financial Telecommunication) may be required to be disclosed to the United States authorities in order to comply with legal requirements applicable in the United States for the prevention of crime.

Your personal data may be disclosed to or exchanged with all employees of the Bank, its associates and agents for the above purposes only and according to the rules of the data protection regulations issued by the Bank.

You have the right to request the Bank to inform you about your personal data held and processed and to request its correction where necessary. Furthermore, following the opening of an Account and during the course of the relationship between you and the Bank, you may, by normal postal letter, request the Bank to refrain from using your details for the purposes of direct marketing.

Whilst the Bank may periodically request you to re-confirm your data, you should inform the Bank immediately if such data has changed.

 

  1. COMPLAINTS

Complaints may be sent to us by regular postal letter or by email. We will try and resolve your complaint as soon as possible and we shall employ our best efforts to provide a reply to all complaints within a maximum period of two working days. In any event, if a complaint requires the divulging of
Account details, the Bank shall, for security reasons, reply through the normal postal mail. When lodging a complaint you should supply the Bank with as many details as possible such as date and time of particular events, and so forth.

In the event the Customer is not satisfied with the Bank's reply, the Customer may refer the matter to the Belgian Ombudsman in Financial Conflicts through the website or by post on the following address:

Ombudsfin
North Gate II, Boulevard du Roi Albert II
no.8, bte. 2, 1000 Bruxelles
Belgium

By email: ombudsman@ombudsfin.be

Website: www.ombudsfin.be/en/individuals/introduce-complaint/

Alternatively, if customers feel aggrieved by a decision of the Bank they may seek redress, within 30 days from the date of the Bank's decision, from the competent authorities within the Malta Financial Services Authority. Customers are advised that they may appeal in English to the Office of the Arbiter for Financial Services on Freephone 80072366 or +36521249245 in the event that they feel aggrieved by any such decision.

By post:
The Malta Financial Services Authority
Office of the Arbiter for Financial Services
Notabile Road
Mriehel
Malta

 

  1. MONEY LAUNDERING

 

You certify that the assets placed or to be placed in the Account are or shall be the product of legitimate activity, and that the Account shall not be used for money laundering or terrorism financing purposes.

In order to prevent money-laundering or terrorism financing activities, the Bank is authorized to request any specific or additional information from the Customer. If the Customer does not fully cooperate, the Bank is authorised to take all adequate measures. 

 

  1. DEPOSITOR COMPENSATION SCHEME

All Izola Saver Accounts and Izola Saver+ term deposit accounts are eligible for cover by the Malta Depositor Compensation Scheme.

The Bank is a participant in the Malta Depositor Compensation Scheme as established in terms of Legal Notice 369 of 2003 as subsequently amended. Subject to the conditions imposed by the Scheme, balances on accounts denominated in Euro or in any other currency of an EEA State held with the Bank are guaranteed up to a maximum of EUR 100,000 or its equivalent in any other EEA currency per person. More information can be obtained from www.compensationschemes.org.mt

 

  1. MISCELLANEOUS

Nothing in these Terms and Conditions or any other documentation supplied by the Bank to you should be construed as a solicitation, offer or recommendation, to acquire or dispose of any investment, product or service or to provide any investment advice or service. Nothing contained in any aforementioned documentation constitutes investment, legal, tax or other advice and is not to be relied on in making an investment or other decision.

You irrevocably authorise the Bank to correct errors, or reverse any entries on your Account made in error, automatically and without prior notice or authorisation.

 

  1. TERMINATION

If you wish to close the Account you can send us a 'Close Account Instruction' from the Administration tab on our Internet Banking. We shall assume that the relationship established between us shall persist until you advise us that you wish to terminate such relationship or, in the case of individual customers, on your death. In the latter case, the Bank shall take instructions relating to the Account/s from the heirs/legatees of your estate. We will need to establish the proper entitlement and authority of such person/s, at your expense, and shall not be bound to act until such time as we are satisfied with such entitlement and authority. All payments made from the Account/s before receipt of the written notice of death will be valid and binding on the heirs/legatees..

We reserve the right, at our sole discretion to terminate the provision of any Account/s at any time by sending you a notice in writing specifying the date on which such termination shall take place. We shall provide you with reasonable notice of our intention to terminate the provision of your Account/s and in all cases such notice shall not be less than sixty days.

Unless required to do so under any legal or statutory requirement, we will not close an existing Izola Saver+ term deposit account prior to the maturity of the said Account. 

 

  1. AMENDMENTS TO TERMS & CONDITIONS

The present Terms and Conditions may be amended by the Bank at any time.

You shall be advised by the Bank through email or regular postal letter of any amendment to the Terms & Conditions.

Unless legal or statutory requirements specify otherwise, the amended Terms & Conditions shall enter into force sixty days after the date of the notification.

Each of the provisions of these Terms and Conditions is severable from the others, and if at any time any one or more of such provisions, is or becomes illegal, invalid or unenforceable, the validity, legality and enforceability of the remaining provisions of these Terms and Conditions shall not in any way be affected or impaired.

 

  1. INFORMATION ON IZOLA BANK

Izola Bank p.l.c. is a credit institution established as a public limited liability company under the laws of Malta and registered with the Maltese Registrar of Companies with company registration number C16343. Izola Bank p.l.c. is licensed as a credit institution by the Malta Financial Services Authority. 

 

  1. GOVERNING LAW

The present Terms and Conditions and, unless agreed otherwise, all the Bank’s and your rights and obligations shall be subject to Belgian law. The Courts of Belgium shall have exclusive jurisdiction over all claims or disputes arising in the event of litigation.