PRE-CONTRACTUAL INFORMATION REGARDING THE OPENING OF A SAVINGS ACCOUNT OF A NATURAL PERSON
1. SAVINGS ACCOUNT DETAILS
Account Description: An account for individuals - natural persons offered to save money. The account is individual and is opened in the name of the Account Beneficiary.
Account type: Savings account eligible for accruing interest, in accordance with these Special Terms and the Bank's currently applicable Pricelist.
Duration: Indefinite
Currency: The account is available in euros [EUR (€)].
How & when we update you on your account: quarterly electronic copy of account statement or monthly, at the request of the Beneficiary.
Language of account statement: Greek or English, upon choice or agreement with the Customer.
Prerequisite for opening the account: The existence of at least one active payment account in the Customer's name is required. Regarding the closure of the savings account for any reason, prior indication of an active payment account with the Bank in the Customer's name is required for the transfer of any credit balance.
2. INTEREST RATE
2.1. Interest Rate: The Account shall bear interest at the applicable credit interest rate as set out in the Bank’s applicable Pricelist for the Savings Account designated as the “Savings Account”.
2.2. Special (Preferential) Interest Rate: In addition to the basic credit interest rate, the Bank may, in accordance with its applicable commercial policy and subject to the conditions that it may determine from time to time, apply an additional or preferential credit interest rate to the Savings Account.
This wording does not constitute a commitment by the Bank, nor does it create a right or reasonable expectation on the part of the Customer for the granting of an additional or preferential credit interest rate.
The conditions of application, the amount, duration, commencement, validity period, any change or discontinuation, as well as any other specific details of the additional or preferential credit interest rate will be communicated to the Customer by any appropriate means.
Any additional or preferential credit interest rate is valid exclusively for the period of time notified by the Bank and shall be effective from the time of the relevant notification onwards, without retroactive effect, unless otherwise specified by the Bank in the relevant notification.
In the event that the relevant conditions cease to be met or the period for which the additional or preferential credit interest rate applies expires (provided that this period was notified in advance to the Customer), the Account shall henceforth bear interest at the basic credit interest rate, as applicable at any given time. If the duration of the additional or preferential credit interest rate was not notified in advance, the discontinuation or change of such preferential or additional interest rate shall take effect after the lapse of two (2) months from the relevant notification to the Customer, unless the change is favorable to the Customer, in which case it may be applied from the time specified in the relevant notification.
3. INTEREST CALCULATION PERIOD AND CAPITALISATION OF INTEREST
3.1 Interest is calculated on a daily basis, in proportion to the days during which the respective balance is held in the Account, based on a year of three hundred and sixty-five (365) days. Interest is capitalized on a monthly basis and credited to the Account on the first (1st) calendar day of the following month, or, if this is not a business day, on the next business day, after withholding the applicable tax in accordance with the applicable tax legislation (currently it amounts to 15% payable to the Greek State).
3.2 Total Annual Actual Return (TAAR): As defined in the Bank’s applicable Pricelist.
3.3 The credit interest rate applies only as long as the Account is active.
3.4 In the event of a change in any condition affecting the application of the savings account interest rate, including the expiration or termination of any special or preferential interest rate, interest shall hereafter be calculated based on the interest rate applicable from time to time, in accordance with these Terms and the Bank’s applicable Pricelist..
3.5 The pricing of the Account, the applicable credit interest rate, the day-count basis for calculating the interest, the date of calculation and the Αnnual Equivalent Rate (AER) thereof are derived from the Bank's current Pricelist, which is available to the Customer at any time via the Bank's website www.snappibank.com.
3.6 Interest is taxed in accordance with the tax legislation in force at the time (currently at a rate of fifteen percent 15%). The corresponding tax is withheld by the Bank and paid to the Greek State.
4. MAINTENANCE AND OPERATION OF THE ACCOUNT
4.1 The Savings Account can be funded in accordance with these Special Terms through:
• incoming transfers of funds from a bank account of a third party,
• internal transfers from another Snappi account of the same Customer,
• top up, in accordance with Chapter C of the General Terms and Conditions.
4.2 There is no requirement to immediately fund the Account upon opening it.
4.3 It is permitted to credit the Savings Account through all available networks or through third-party banks, using interbank payment systems, as well as to transfer funds between the Savings Account and other Snappi accounts belonging to the same Beneficiary-Customer (internal transfers).
4.4 The following services are not supported through the Savings Account:
- cash withdrawal by the Beneficiary – as the Savings Account cannot be linked to a (credit or debit) Card,
- the issuance of checks drawn on the Savings Account,
- the use of the Savings Account as a linked account for the provision of investment services,
- the execution of credit transfers to a third party account (within or outside Snappi), as well as
- the execution of credit transfers to the Beneficiary's account held at a third credit institution.
Therefore, it is not possible to execute IRIS or bill payments through the Savings Account or set up direct debits or standing orders from the Savings Account.
4.5 The amounts of money held in the Savings Account remain available to the Customer at all times, in accordance with these Terms and the operational limitations of the Account.
4.6 The Savings Account cannot be used by the Beneficiary - Customer as a servicing, repayment or financing account for any other Snappi product. The above provision does not affect any set-off rights of the Bank, in accordance with the General Terms of Transactions and applicable legislation.
4.7 The Savings Account cannot be linked to any Snappi debit or other card.
4.8 The maximum number of Savings Accounts that each Customer may hold is determined by the Bank's commercial policy, as applicable from time to time. It is however expressly clarified that the Customer may acquire the said savings account even if the maximum limit of permitted accounts provided for in the Bank's General Terms of Transactions has already been reached.
4.9 Overdrafts or negative balances are not permitted. Orders or transactions that would result in a negative available balance shall be automatically rejected.
4.10 The Beneficiary-Customer may designate a “friendly name” for the Savings Account.
5. GENERAL INFORMATION ABOUT THE RELATIONSHIP WITH THE BANK
These terms and conditions supplement and specify the General Terms of Transactions and form an integral part thereof. Accordingly, the Savings Account is governed by these Special Terms and Conditions and the General Terms of Transactions, to the extent that the latter do not conflict with these. The General Termsof Transactions , the Fee Information Document and the Bank's Pricelist, as applicable from time to time, are available to the Customer at any time, during the contract period, through the Bank's website www.snappibank.com.
The Bank may unilaterally amend these terms, as well as the applicable credit interest rate or other characteristics of the Account, in accordance with applicable legislation. For any amendment to these Terms, the Bank shall inform the Beneficiary at least two (2) months before the proposed date of entry into force, by any appropriate means. If the Beneficiary does not object to the proposed amendment before its effective date, it shall be deemed to have been accepted. Exceptionally, in the event that the amendment is exclusively favorable to the Beneficiary (e.g. in the event of an increase in the credit interest rate or improvement in the interest terms), the Bank may apply such amendment immediately and without prior notice. This provision does not affect the Beneficiary's right to terminate the contract and close the Savings Account or to cease use of the Account, in accordance with the General Terms of Transactions.
The Customer reserves the right to withdraw from the Savings Account opening agreement without penalty and without cause, within a period of fourteen (14) calendar days, by submitting a relevant written request to the Bank in due time, which is sent to the email customer@snappibank.com. The relevant withdrawal template is posted on the Bank's website www.snappibank.com. The withdrawal period begins from the day of confirmation of acceptance of the Special Terms by the Customer, upon completion of the electronic account-opening process via the Bank’s electronic application. Following the timely exercise of the right of withdrawal, the Savings Account opening agreement ceases to be valid retroactively.
6. FEE INFORMATION DOCUMENT
The Savings Account Fee Information Document is available free of charge on the Bank's website as follows: https://www.snappibank.com/en/fee-information-document-en/.
7. INFORMATION FOR DEPOSITORS
The Information for Depositors regarding the deposit guarantee scheme and the Bank's participation in the Deposit and Investment Guarantee Fund (TEKE) is available free of charge on the Bank's website as follows: https://www.snappibank.com/en/information-for-depositors/.
