FAQs - eDeposits

The Habib Bank AG Zurich plc eDeposit account is available to individuals aged 18 and over, residing in the UK (for tax purposes), with a permanent verifiable UK address. Applicants must also have a personal UK bank or building society account.

Yes, there is a minimum and maximum deposit limit for opening an eDeposit account.

These terms can change at any time.

We verify your identity and address by checking a number of electronic databases. This process involves matching your personal details against a range of publicly available records and credit records. We require your passport or driving license details, in order to process your online eDeposit application. If we are not able to verify the details provided to us (for example, if you have recently moved house or have little or no credit history or for any other unknown reason) we will ask you to provide documentary proof of identity.

In this situation, we will not be able to open an eDeposit account for you.

You can pay or transfer the Deposit in any of the following ways:

• By cheque – Please refer to T&Cs clause 9.5.1:
  By sending us a cheque made payable to yourself from your own UK bank or building society account. On the reverse of the cheque, you must clearly write the account name, e-Deposit account number and the reference number of your online application.
• By online banking transfer – Please refer to T&Cs clause 9.5.2:
  By using the online banking services of your UK bank or building society. Please ensure the application number is quoted in the payment reference.
• Non-receipt of funds – Please refer to T&Cs clause 9.9:
  Your account will be automatically closed if the deposit is not received and credited within 30 calendar days of the account opening date, in accordance with these Terms.

We will not send you paper statements. You will only receive a deposit confirmation certificate once funds have been received in your eDeposit account.

It is essential that you inform Habib Bank Zurich plc of any changes to your registered email or residential address. To update your records, we require the original or certified copy of the following:

• Your passport or driving licence (if not already used as proof of address)
• Proof of address documents (less than 3 months old):
  – A bank statement (original – not one obtained from the internet)
  – A utility bill
  – A council tax bill/letter (for the current year)

No, you cannot close your account once you have made a payment into your deposit account. However, you have 14 days after opening your account to request its cancellation, as long as no funds have been received.

Account withdrawals or early closures are not permitted. However, in exceptional circumstances, you may be allowed to withdraw the balance in your account (without interest), and your account will be closed without charge. Please refer to our Terms & Conditions for more details on exceptional circumstances.

The interest rate payable is fixed for the term of the account. Please note that if you do not transfer funds within 14 days of opening the account, you will not be entitled to the rate advertised at the time of your application.

Interest will be paid only upon the maturity of your deposit. The details will be confirmed in your deposit confirmation.

No interest is payable on accounts closed before maturity. However, the Bank will not charge you any penalty for early closure or withdrawals.

Interest will be payable on your deposit from the business day that cleared funds are received by the Bank.

It is your responsibility to pay taxes on the interest earned. Please refer to our Terms & Conditions for further details.

Please note, you may be subject to external or additional taxes or costs that we do not charge or deduct. For example, you may be liable for higher income tax on the interest earned, depending on your personal circumstances.

Please contact HMRC directly or visit www.hmrc.gov.uk if you need more information on applicable taxes or tax exemptions.

Interest will be paid into your eDeposit account upon maturity.

The details of your account, including the interest earned, will be supplied in your deposit confirmation. The interest rate is fixed for the term of your account.

We will send you a reminder at least 14 days before your account matures, with options for what you can do with your money.

If we do not receive any instructions before the maturity date, we will hold your deposit, plus any interest earned, in our sundry account.

Please note that no additional interest will be paid, unless agreed upon mutually.

Your funds will be repaid to you at the time of maturity. The Bank will transfer the funds to the bank account you nominated when opening your eDeposit account. If you wish to transfer these funds into a different account, please inform us (details are provided in the contact section).

Yes, you can open a sole or joint account for up to two individuals. For more information on joint accounts, please refer to our Terms & Conditions.

Yes, you can apply for another eDeposit by transferring the funds to your existing account and quoting the term and reference number from your previous deposit in your new payment order. For further guidance, please contact our customer support.

How can I contact Habib Bank Zurich plc?

You can contact us at our registered office in the UK.

Habib Bank Zurich plc
42 Moorgate
London EC2R 6JJ
Telephone: +44 (0) 20 7452 0200 or 080 81642242
E-mail: edeposit.uk@habibbank.com
Website: www.habibbank.com