Customer Terms & Conditions

Version – 11 August 2025

1. OUR AGREEMENT

1.1 These terms and conditions (the “Terms and Conditions”) set out the basis upon which Insignis Asset Management Limited (“Insignis”, “we”, “us”, “our”), will provide our Cash Management Service and (if relevant) our cash ISA Service, to you (“client”, “customer”, “you”, “your”). These Terms and Conditions and your application create legally binding obligations between you and us. You should read these Terms and Conditions with our Fee Table before applying to open an Account on the Platform. If there is anything that you do not understand, please contact us before setting up an account. If you choose to use our cash ISA Service additional terms and fees will apply – information about these will be given to you when you apply for the cash ISA Service.

1.2 These Terms and Conditions and any non-contractual obligations arising out of or in connection with them are governed by the law of England and Wales. Except where you are resident in Scotland or Northern Ireland (in which case you may bring proceedings in the courts of your home jurisdiction), the courts of England and Wales have exclusive jurisdiction to both the parties to hear all and any disputes or claims (including non-contractual disputes or claims) arising out of or in connection with these Terms and Conditions.

1.3 By completing the Application and using the Cash Management Service, you agree to be bound by these Terms and Conditions and acknowledge that they create legal, valid and binding obligations on between us. These Terms and Conditions shall apply and will continue in existence until terminated in accordance with section 20 or varied in accordance with section 21.

1.4 If any of these Terms and Conditions conflict with any terms and conditions of the Trust Deed or the cash ISA Terms, the Trust Deed or cash ISA Terms will take priority.

1.5 Insignis is incorporated in England and Wales under company number 09477376 and has its registered office at St John’s Innovation Centre, Cowley Road, Cambridge, England, CB4 0WS.

1.6 Insignis Asset Management Limited, trading as Insignis , is authorised by the Financial Conduct Authority under the Payment Service Regulations 2017, firm reference number (FRN): 813442 for the provision of payment services. Insignis is subject to oversight by the FCA specifically for Account Information Services and Payment Initiation Services, as described further below, and these terms and conditions provide you with contractual rights and protections in relation to these services.

1.7 We will not provide you with financial, legal, tax or any other advice in connection with the Cash Management Service or the cash ISA Service. We strongly recommend that you seek independent advice for your specific situation.

1.8 These Terms and Conditions shall be interpreted in accordance with section 25 and defined terms used in these Terms and Conditions shall have the meanings given to them in that section.

2. THE CASH MANAGEMENT SERVICE

2.1 In consideration of your payment of the Fees and adherence to the Terms and Conditions, we will act with due skill, care and diligence to provide the following services to you (the “Cash Management Service”) in accordance with the Terms and Conditions:

2.1.1 processing your Application and conducting the appropriate due diligence checks to open an Account on the Platform;

2.1.2 the setting up and maintaining your access to the Platform;

2.1.3 arranging for you to be able to place funds into the Hub Account(s) (including through use of the Payment Initiation Services);

2.1.4 the facility for you to provide Account Instructions from time to time;

2.1.5 upon receiving Account Instructions from you, facilitating transfers of funds between the Hub Account(s) and Deposit Accounts, between Deposit Accounts, and between the Hub Account(s) and your Nominated Account; and

2.1.6 the ability to see information relating to payment accounts you hold with third parties via the Platform.

2.2 If you choose to open a cash ISA, we will act on behalf of the ISA Manager of the relevant cash ISA. On their behalf we will act with due skill, care and diligence to provide the following services (the “cash ISA Services”) to you:

2.2.1 processing your application for a cash ISA and carrying out any relevant checks necessary for the opening of the cash ISA;

2.2.2 setting up and maintaining your access to the Platform;

2.2.3 arranging for you to be able to place funds into the cash ISA Hub (including through use of the Payment Initiation Services);

2.2.4 the facility for you to provide Account Instructions from time to time in connection with a cash ISA;

2.2.5 upon receiving Account Instructions from you, facilitating transfers of funds between the cash ISA Hub and Deposit Accounts, between Deposit Accounts, between the cash ISA Hub and your Nominated Account, between the cash ISA Hub and Hub Account(s), and between the cash ISA Hub and a cash ISA offered by an ISA Manager who is not an ISA Partner; and

2.2.6 the ability to see information relating to payment accounts you hold with third parties via the Platform; and

2.2.7 administering your cash ISA in accordance with the cash ISA Terms;

2.3 In providing the Cash Management Service, Insignis will take reasonable steps to ensure that clients in vulnerable circumstances are treated fairly and receive appropriate assistance, where required, tailored to their individual needs. In such cases, Insignis will offer support and assistance as appropriate, including but not limited to, providing clear and accessible information, or via alternative communication channels upon request or where Insignis is already aware or becomes aware additional support is necessary.

3. YOUR OBLIGATIONS

3.1 The provision of the Cash Managements Service and the cash ISA Service is subject to you meeting the following conditions as set by Insignis and any relevant Bank you have an account with and, where relevant any cash ISA Partner on an ongoing basis:

3.1.1 you promptly providing us with such information as we reasonably deem necessary to enable us and/or any Bank and/or any cash ISA Partner to comply with all applicable legal, tax, residential and regulatory requirements, industry standards and codes of practice;

3.1.2 any information you provide shall be complete, accurate and up to date, and you will inform us as soon as possible if any information you have supplied is no longer correct;

3.1.3 the satisfactory completion by you of all due diligence checks, such Know Your Customer (KYC), as may be required by Insignis and/or any Bank and/or any cash ISA Partner from time to time;

3.1.4 maintaining, from time to time, sufficient funds in the Hub Account(s) and, where relevant the cash ISA Hub to meet all Account Instructions and Fees;

3.1.5 providing complete, timely and accurate Account Instructions;

3.1.6 co-operating with Insignis in all matters relating to the Cash Managements Service and the cash ISA Service, including any correspondence with any regulatory authority;

3.1.7 compliance with all applicable legal and regulatory obligations you may be subject to;

3.1.8 using the Cash Management Service and the cash ISA Service for your benefit and on your behalf, and not for the purposes of providing any commercial activities towards third parties.

Security
3.2 It is your responsibility to take reasonable steps to keep your Account safe by:

3.2.1 establishing and maintaining appropriate security procedures in relation to all Logins, including regular changes to the Login credentials;

3.1.11 ensuring that appropriate anti-virus software is installed on each device you use to access the Platform; and
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3.1.12 carrying out regular virus checks and applying regular relevant security and anti-virus software updates for any device you use to access the Platform.

3.3 If you believe that your Logins have become known to a third party or you notice anything unusual with your online portal, you must inform us as soon as possible. We shall have no responsibility for losses or damages incurred by you as a result of unauthorised Account Instructions which have been submitted as a result of your failure to keep your Login credentials safe.

3.3 You must notify us of any unauthorised or incorrectly executed Account Instructions as soon as you become aware of them. This notification should be made by telephone (01223 200 674) or, if this is not possible (for any reason), by email to client.services@insigniscash.com.

3.5 In order to make sure that your online portal services are as safe as possible, we will:

3.5.1 keep records of any online messages, instructions, or transactions sent or received by us, including the time they took place;

3.5.2 record any calls between you and us, and keep these recordings for a period of time, in line with the relevant rules and requirements.

4. OPENING YOUR ACCOUNT

4.1 In order to be eligible for the Cash Management Service, you must be a natural or legal person that is:

4.1.1 aged 18 or over;

4.1.2 resident in the UK and a UK taxpayer;

4.1.3 not a U.S. Person for the purposes of the Foreign Account Tax Compliance Act (FACTA).

4.2  You must be a customer of our Cash Management Service in order to open a cash ISA through our cash ISA Service. Additional eligibility criteria might apply to cash ISAs which will be set out in the cash ISA Terms.

4.3 In order to be considered for the Cash Management Service, you must complete an application.

4.4 By submitting an application, you confirm that:

4.4.1 you have legal power and authority to enter into and be bound by these Terms and Conditions;

4.4.2 all information you have provided to us (including in the Application) is true, accurate and complete; and

4.4.3 all money that you credit to the Hub Account(s) and/or instruct us to place in Deposit Accounts belongs to you and is free of any charge, lien, pledge or encumbrance (this means that there are no third parties who have any rights over such monies).

4.5 You agree to notify us as soon as possible if any information you have provided to us as part of the Application needs to be updated or is no longer accurate and complete.

4.6 We will only start to provide the Cash Management Service to you once we:

4.6.1 have received your duly completed Application;

4.6.2 are satisfied that identity and due diligence checks have been successfully completed, as required by the necessary rules and regulations;

4.6.3 have been provided with copies and/or details of any certifications necessary for tax requirements;

4.6.4 have confirmed acceptance of your application to you in writing; and

4.6.5 have received your cleared funds

4.7 We might not accept any Application where to do so may lead to a breach of applicable law or otherwise in our sole discretion. If we do not accept your Application, provided we are permitted to do so under applicable law, we will return any monies to you that you have transferred to us in connection with that, after deducting any fees or charges which may be due to us as explained in our Schedule of cost.

4.8  If you are introduced to the Cash Management Service by an Intermediary, the Intermediary may verify your identity and proof of address. We are able to accept other relevant documents that are certified as true copies of the original provided by your Intermediary, but we might also need to request additional information and documentation to satisfy our own internal policies and procedures.

4.9 You consent to us undertaking any electronic search we consider necessary for the purposes of verifying your identity and address, amongst other due diligence checks required the relevant rules and regulations. To do so, we may check the details you supply against your particulars on any database (public or otherwise) to which we have access. We may also use your details in the future to assist other companies for verification purposes. A record of this search will be retained in accordance with section 21. If we cannot verify your identity, we may ask you to provide certain original or certified documents. You agree that we may pass on such information we obtain as part of this process, as we consider necessary, to relevant third parties to comply with applicable legal and regulatory requirements.

4.10 You acknowledge and agree that in meeting our obligations under these Terms and Conditions, we may, for the purposes of the Cash Management Services only, disclose your Personal Information, customer due diligence information and any other information reasonably required to Banks and as required by applicable law or regulation.

4.11 We may suspend your access to the Platform and/or the ability to submit Account Instructions in the event that:

4.11.1 we have any concerns about the possibility of fraud;

4.11.2 we have any concerns about due diligence checks or information provided in relation to due diligence checks;

4.11.3 you have not paid all Fees when due.

5. OPENING AND FUNDING ACCOUNTS

5.1 As part of your Application, you must provide us with details of the Bank account from which you intend to make payments and into which you wish to receive payments (your “Nominated Account”). Your Nominated Account must be in your name. If you wish to change your Nominated Account, you must notify us in writing and you must provide such information/evidence as we may request to prove that the new Nominated Account is held in your name. Any changes to your Nominated Account will only become effective once accepted by us in writing.

5.2 We will provide you with further information on the process for funding your Account on the Platform. One option will be to use the Payment Initiation Services. We may ask you to direct funds to one or more Hub Accounts (or, where relevant, cash ISA Hub) to fund your Account. If we have any concerns, we may refuse to accept any particular funding or transaction or disable any particular funding method at our discretion.

5.3 Funds received from you will be held in the Hub Account(s) or cash ISA Hub as the case may be, until transferred into any Deposit Account, following any Account Instruction you provide to us. You acknowledge and agree that we will not credit the Hub Account(s) or cash ISA Hub or effect an Account Instruction to place funds in a Deposit Account before we receive your funding in cleared funds into the Hub Account(s) or cash ISA Hub.

5.4 Upon:

5.4.1 you submitting an Account Instruction to withdraw funds from a Deposit Account, and

5.4.2 a maturity of any Deposit Account, the proceeds will be paid into the Hub Account(s)or cash ISA Hub, (as the case may be) pending further Account Instructions, subject to any notice periods applicable to the withdrawal.

6. OUR CASH ISA SERVICE

How it works

6.1 Insignis is not an ISA Manager, but we have partnered with an ISA Partner who is an ISA Manager in order to offer the cash ISA Service. Our ISA Partner has delegated the administration of the cash ISAs to us, and we will carry out the day to day running of the cash ISAs on their behalf.

6.2 As is the case with our Cash Management Service, when you open a cash ISA through our cash ISA Service, Insignis will hold the money in the cash ISA Hub on trust for you. You can then select Deposit Accounts offered by various Deposit Takers through the Platform and give us your instructions as to where you would like us to place your money. The cash ISA Hub and any Deposit Accounts that you select to be held within your cash ISA will be designated as ISA accounts for the purposes of the ISA Regulations. Insignis will open the Deposit Accounts in its own name but will hold the money on trust for you.

Using the cash ISA service

6.3 You will be able to see the Deposit Accounts that can be held as part of cash ISAs that are available through our cash ISA Service on the Platform. You will need to fill in an Application in order to use the cash ISA Service. Following a successful application Insignis will, on behalf of the ISA Manager, administer your cash ISA in the way set out in the relevant cash ISA Terms.
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6.4 You can make a payment into the cash ISA Hub either from the Hub Account, or from your Nominated Account, by giving us an Account Instruction. You can also make a payment in from another ISA account you already hold with another ISA Manager – details of how to do this will be set out in the cash ISA Terms.

6.5 Your cash ISA will be subject to, and we will administer your cash ISA in accordance with, the relevant cash ISA Terms.

6.6 You may hold such investments in your ISA as are permitted under the ISA Regulations. For our cash ISAs you will only be allowed to hold the Deposit Accounts we make available on our Platform as being eligible investments for your Cash ISA.

6.7 Subscriptions can only be made to an ISA in accordance with the annual subscription allowances.

6.8 The arrangements for making a withdrawal from your cash ISA will be set out in the relevant cash ISA Terms. We will process withdrawal requests in accordance with the relevant cash ISA Terms and will only process a withdrawal from your cash ISA Hub following an Account Instruction.

6.9 We will calculate your balance in relation to the cash ISA Services daily. Your balance will be based on the amount currently being held for you in respect of the cash ISA Services (including any invested cash and interest that has been earned and paid). This will not include:

6.9.1 amount being held for you in a Deposit Account where the interest has accrued but not yet paid.

6.10 ISAs can only be held on an individual basis. You cannot apply for a cash ISA to be held on a joint basis.

7. PAYMENT INITIATION SERVICES

How does it work?

7.1 We are authorised as a ‘Payment Initiation Service Provider (PISP)’. This allows us to provide a service through which, with your explicit consent, we will connect to your Account Servicing Payment Service Providers (ASPSP) and enable you to make payment instructions directly to your ASPSP via our Platform.

7.2 When you consent to the use of your Payment Initiation Services via the Platform you are authorising us to connect to your ASPSP and submit a payment instruction on your behalf in respect of you selected account. When you do this you will:

7.2.1 be asked what account you would like us to connect with and for the payment to be made from;

7.2.2 be asked to confirm the details of the payment you wish to make and to give your explicit consent to the instruction being given. Please note that you can only instruct payments where Insignis is the recipient of the payment, you will not be able to instruct payments to any other party through the Payment Initiation Services;

7.2.3 be redirected to your ASPSP’s website or mobile application in order to authenticate yourself so that your ASPSP knows that you are authorising the payment initiation instruction. This may involve submitting your username, password and/or other security information provided by that ASPSP.

7.3 Once this is complete, we will link with your selected account and, on your behalf, submit your payment instruction to the ASPSP.

7.4 You may withdraw your consent to Insignis linking with one or more accounts at any time. You can do this through the Platform. When you do this, the connection to your ASPSP will end. If you want to reconnect to the ASPSP via the Platform, you will need to consent to this again and go through any authentication steps that are in place.

7.5 The Payment Initiation Services are a service we are providing to you directly, and not on behalf of the ASPSP. Your selected ASPSP is responsible to you for executing all payment instructions for the payment account(s) it has offered you. We do not control your ASPSP’s acceptance of an instruction submitted through the Payment Initiation Services or execution time of each instruction, nor do we handle your money whilst the payment is being executed. We are, however, responsible for accurately relaying your submitted instructions to your selected ASPSP.

7.6 You acknowledge and accept that we may not be able to initiate payments on all account types you hold with a third party, and there may be value or transaction type limits on the payments that can be initiated. There may also be cases where we need to review or delay relaying an instruction for system or compliance reasons. We will usually inform you when this happens if we are permitted to do so by law.

7.7 Once a transaction has been instructed via the Payment Initiation Services, you will not be able to cancel or otherwise withdraw your consent to the execution of the payment transaction via the Platform. If you wish to do this, you will need to contact the relevant ASPSP.

Defective, Incorrect and Unauthorised Payments

7.8 If you think that a payment initiated through the Platform may have been incorrect, unauthorised, or not properly executed (perhaps due to delay or other error), then you need to:

7.8.1 Contact us (using the Platform) so that we can investigate; and

7.8.2 Contact your relevant ASPSP so that it can investigate and correct any error for you. If a refund needs to be applied to the account, the payment was made from then your ASPSP will manage this for you as the law says that we are not able to do this. Please contact your ASPSP as soon as you become aware of a payment that may have been incorrect, unauthorised, or not properly executed (and no later than 13 months after the debit date for the payment, as you can lose your right to have it corrected by your ASPSP after that time).

Costs for the Payment Initiation Services

7.9 We do not impose any separate fees for the Payment Initiation Services.

8. ACCOUNT INSTRUCTIONS

8.1 We require an Account Instruction to:

8.1.1 fund a cash ISA Hub from another Hub Account;
8.1.2 fund a Deposit Account from the Hub Account(s) or another Deposit Account;
8.1.3 fund a Deposit Account from a cash ISA Hub;
8.1.4 withdraw funds from a Deposit Account; or
8.1.5 withdraw funds from the Hub Account or the cash ISA Hub.

8.2  At our discretion, we may elect not to effect any Account Instruction if we have reasonable grounds to suspect that we have received incomplete, unauthorised, revoked or fraudulent instructions. We will notify you if we exercise this right.

Funding a Deposit Account

8.3 You may give us instructions via the Platform or by telephone (01223 200 674) to place funds held in the Hub Account(s) or cash ISA Hub on your behalf into one or more Deposit Accounts.

8.4 You may also give us instructions to transfer funds already held in a Deposit Account or cash ISA Deposit Account to another Deposit Account. We will effect this, where possible, by treating it as two Account Instructions:

8.4.1 the first to carry out a withdrawal from the current Deposit Account in accordance with clauses 8.10 to 8.13, and

8.4.2 the second as an Account Instruction made under clause 8.3.

If we are unable to withdraw the funds from the existing Deposit Account for any reason, we will not carry out the Account Instruction and advise you as soon as reasonably practical. Please note that where you transfer money from a Deposit Account to a cash ISA Deposit Account, this will be treated as a subscription to your ISA and count for your annual subscription limit. Similarly, a transfer from a cash ISA Deposit Account to a Deposit Account will amount to a withdrawal from your ISA.

8.5 Where you instruct us to place funds into Deposit Accounts, we will arrange to open an account (or multiple accounts) with the relevant Bank offering the Deposit Account(s). You acknowledge that your rights under a Deposit Account are subject to the Terms and Conditions of the relevant Bank and, where appropriate, agree for Insignis to accept these on your behalf. These Terms and Conditions are made available to you via the Platform. The gross applicable interest rate for each Deposit Account will be confirmed to you via the Platform once the relevant Bank has accepted your monies.

8.6 Subject to the Terms and Conditions of the relevant Bank, payments between the Hub Account(s) or cash ISA Hub and a Deposit Account will normally be credited to the Deposit Account by close of the next Business Day, following the day on which the Deposit Account is opened. The time required to open different Deposit Accounts depends on the relevant Bank.

8.7 In relation to opening Deposit Accounts, we are entitled to rely on any information you have already provided. If we ask you for further information in accordance with these Terms and Conditions and you do not promptly provide it, or if the information provided by you is incorrect or incomplete or becomes incorrect or incomplete, we may not be able to carry out the Cash Management Service (or cash ISA Service, as the case may be) and we shall not be responsible for any loss or damage suffered by you as a result (including from potential lost interest).

8.8 Some Deposit Accounts may only be available for a limited period and/or have specific eligibility criteria. We will display any eligibility criteria for a Deposit Account via the Platform. Where a Deposit Account has eligibility criteria as described above in clause 4 (“Opening Your Account”), we may:

8.8.1 choose not to display it to you via the Platform, if we are aware that you do not satisfy the criteria; and/or

8.8.2 reject any Account Instructions to fund such a Deposit Account, where you do not satisfy the eligibility criteria.

8.9 If, for any reason, we are unable to place your funds in your specified Deposit Account, your money will be returned to the Hub Account/cash ISA Hub, less any applicable fee that may have been paid to your Intermediary as specified in our Fees Table. You should discuss with your Intermediary whether you are entitled to a refund for any fees paid to them, as this is dependent on the terms agreed between you and them. You will need to arrange for your Intermediary to repay to you directly any such refund of fees.

Withdrawing funds from a Deposit Account

8.10 You may submit instructions to withdraw funds from a Deposit Account. However, we will only execute such Account Instructions:

8.10.1 where withdrawals are permitted by the Terms and Conditions of the relevant Bank; and

8.10.2 with respect to our Cash Management Service, where effecting the relevant withdrawal will not result in detriment to any other client on behalf of which we hold the Deposit Account (for example, if a client requests an early withdrawal before the maturity date of a term deposit, and the Bank makes such a withdrawal conditional on a reduction in the interest rate applicable to the Deposit Account going forward or states that the Deposit Account as a whole must be closed and all funds withdrawn), unless that detriment has been explicitly agreed to by the other client(s).

8.11 The arrangements for withdrawals from a cash ISA will be set out in the relevant cash ISA

8.12 In accordance with the underlying Terms and Conditions of a Deposit Account, it will not generally be possible to withdraw monies from a Deposit Account before the expiry of any Fixed Term or a given notice period applicable to it. In the event that withdrawals are possible, any such withdrawals may result in charges or penalties being applied or interest being forfeited in relation to your proceeds. We will try to minimise the impact of any such charges or penalties in those circumstances, but we cannot guarantee that there will not be any.

8.13 The time taken to return monies is dependent on the relevant Banks accepting and acting on instructions to make the requested transfers in a timely way. We do not accept responsibility or liabilities for any of the Banks failing to transfer monies in the timescales required for any particular withdrawal.

8.14 Where a Deposit Account is subject to a Fixed Term, in good time prior to the maturity date of the Deposit Account, we will inform you or your Intermediary through the Platform, by email or telephone about your options on maturity. If you do not specify any Account Instructions in relation to the proceeds, we will transfer them to your Hub Account(s) or cash ISA Hub as the case may be.

‍Withdrawing funds from your Account

8.15 Any withdrawals from your Account will be handled in accordance with section 10 and, where relevant, the cash ISA Terms.

9. USING THE CASH MANAGEMENT SERVICE THROUGH AN INTERMEDIARY

9.1 Clauses 9.2 to 9.5 apply where you are introduced to the Cash Management Service by an Intermediary, regardless of whether or not it operates the Cash Management Service on your behalf and deals with us as your agent. Clauses 9.6 to 9.11 apply where you instruct an Intermediary to operate the Cash Management Service on your behalf and deal with us as your agent.

‍All Intermediaries

‍9.2 We do not provide financial, investment, tax or any other advice in respect of your use of the Cash Management Service, cash ISA Service, Deposit Accounts and/or the Banks or their suitability or performance, nor in relation to any decision you may take to invest monies in, or withdraw monies from, the Cash Management Service or the cash ISA Service. We will not be responsible for any losses or damages you incur as a result of acting or deciding to act on the advice or recommendation of any third party (including your Intermediary) in relation to the Cash Management Service or the cash ISA Service. If you feel that you need advice in respect of our services, then you should contact an independent financial adviser.

9.3 Whilst we will always endeavour to ensure the best financial outcome for our clients, it is your responsibility (or the responsibility of your Intermediary) to keep your financial circumstances and objectives under review, and to assess whether placing your money in Deposit Accounts through the Cash Management Service or the cash ISA Service is suitable for your needs.

9.4 We have no responsibility for monitoring any ongoing service that may be provided to you by your Intermediary.

9.5 Should you choose to employ the services of an Intermediary, your Intermediary is responsible for agreeing with, and disclosing to, you their fees that relate to the service that they provide to you in respect of your use of the Cash Management Service or the cash ISA Service.

‍Executing Intermediary

‍9.6 Where you instruct an Intermediary to operate the Cash Management Service or the cash ISA Service on your behalf and deal with us as your agent, you must inform us of this.

9.7 Where notified, we will treat your Intermediary as your agent for the purposes of making the Cash Management Service or the cash ISA Service available to you and we will act on any instructions from your Intermediary as if they were instructions from you pursuant to this Agreement.

9.8 If your Intermediary’s ongoing service comes to an end (for example, because you choose to cancel the service or your Intermediary chooses to terminate its relationship with you or ceases business), we will continue to hold the monies in your Cash Management Service or the cash ISA Service for your benefit, but you will not be able to control the Cash Management Service or the cash ISA Service unless you notify us about the change in circumstances and prove your identity to our satisfaction. We will be entitled to continue to rely on any authority you have provided us to pay adviser charges that are outstanding and due to the Intermediary.

9.9 If the relationship between you and your Intermediary comes to an end, you may appoint a new Intermediary to ensure that using the Cash Management Service or the cash ISA Service remains suitable for you. The new Intermediary will need to register with us in order to have authority to operate the Cash Management Service Account or cash ISA Hub on your behalf.

9.10 You should notify us if your relationship with your Intermediary comes to an end. We will not deal with your Intermediary until we have received a valid notification of the change in circumstances.

9.11 We may contact and deal directly with you even though you have appointed an Intermediary, including where we know or reasonably suspect that your relationship with your Intermediary has come to an end.

10. ACCOUNT WITHDRAWALS

10.1 You may make withdrawals from your Account through the Platform or via telephone (01223 200 674). You may make withdrawals to your Nominated Account only. The amount of money available for withdrawal will depend on the amount credited to the Hub Account(s) or cash ISA Hub for your benefit and the notice period(s) applicable to the particular Deposit Accounts. Withdrawals from your cash ISA Hub may have tax implications – please see the cash ISA Terms for further details.

10.2 Any withdrawals made will be subject to availability of funds in the Hub Account(s) or cash ISA Hub to meet that withdrawal. As detailed in clause 15.4, you will need to maintain a fee reserve balance in the Hub Account(s) in order to meet applicable ongoing charges and this may also limit any funds available to you for withdrawal.

10.3 Any applicable Fees may be deducted before paying the proceeds of any amounts due to you into your Nominated Account.

10.4 We will normally process payments from the Hub Account(s) or the cash ISA Hub by close of the next Business Day. Where your withdrawal amount relies on a withdrawal of funds from a Deposit Account, we will only process the withdrawals once the Hub Account(s) or the cash ISA Hub has received all of the relevant proceeds.

11. STATUS OF THE BANK ACCOUNTS

11.1 If we hold money for you in the Hub Account(s) which you have not instructed us to either deposit into a Deposit Account or return to your Nominated Account in accordance with these Terms and Conditions, we may move that money between Hub Account(s). If we move your money between Hub Account(s) this will not affect your entitlement to this money as set out in the paragraph below or your other rights as set out in the Terms and Conditions. We will not move money between the cash ISA Hub Account(s) and the Hub Account(s) without your explicit instruction.

11.2 You acknowledge and agree that the Hub Account(s) or the cash ISA Hub and each Deposit Account (together, the “Bank Accounts”) will be opened in Insignis’s name but held on trust for clients, including you, who have deposited funds into such Bank Accounts. Insignis will also hold all funds contained within the Bank Accounts on trust for each of the clients who have deposited funds within the Bank Accounts, in accordance with their proportionate beneficial interests in such funds.

11.3 You acknowledge that the opening of any Bank Account may be outside of our control and that responsibility for opening each Bank Account shall lie with the relevant Bank and not with Insignis.

11.4 Your money held in the Hub Account(s) or any Deposit Account may be held alongside money belonging to other clients. We will hold your money, and the money of other clients, under a trust structure in one or more accounts, in accordance with your instructions. On this basis you will not have a claim against a specific sum in a specific account, but instead have a proportionate claim against the overall balance of each account we are holding on trust for you.

11.5 You acknowledge that you will not be able to communicate directly with any Bank your funds are deposited with and that any communication with each Bank will be from Insignis.

11.6 Neither you nor we can:

11.6.1 lend;

11.6.2 use as security for a loan;

11.6.3 create any lien, charge, security or other encumbrance over

the Hub Account(s) or the cash ISA Hub, any Deposit Account, the funds contain in either, the documentation evidencing title to either, or any rights associated in respect of any of these.

11.7 We might close any Deposit Account in relation to which there are no outstanding Account Instructions and where we reasonably believe that there will be no new Account Instructions in the foreseeable future.

11.8 It is your responsibility to determine what, if any, taxes apply to the payments you receive in connection with the Cash Management Service (“Taxes”). It is solely your responsibility to assess, collect, report, or remit the correct Taxes to the proper tax authority. We are not under any obligation to determine whether Taxes apply, or calculate, collect, report, or remit any Taxes to any tax authority arising from any Deposit Account on your behalf. You acknowledge that we may make certain reports to tax authorities in the United Kingdom and overseas regarding your Deposit Accounts and Hub Account(s) or in connection with our cash ISA Service. If you feel that you need advice in respect of our services, then you should contact an independent financial adviser.

11.9 If there is any change in circumstance affecting your tax residency status, we should be notified within 30 days of this change. Notification requirements relating to your tax residency status may also be required under relevant cash ISA Terms.

12. DEPOSIT ACCOUNTS AND FSCS

12.1 If you are eligible for Financial Services Compensation Scheme (FSCS) protection and the Bank with which a Deposit Account or Hub Account(s) or the cash ISA Hub is held is a member of the FSCS (see below), you may in certain circumstances be entitled to receive compensation from the FSCS in the event that the Bank is unable to meet its obligations. The limit for compensation may change from time to time. You should always check www.fscs.org.uk for the current FSCS compensation limit. Please note that this limit applies to your total holdings with a Bank and therefore includes all the cash you may hold with any Bank whether through the Cash Management Service or cash ISA Service or outside of it. Insignis assume no responsibility for monitoring whether your funds held on the Platform are eligible for FSCS protection. The FSCS only applies to accounts with UK Banks and certain other deposit takers that have opted into the scheme and accordingly you may not be eligible for FSCS protection. Further information about compensation arrangements is available from the FSCS at www.fscs.org.uk.

12.2 If you choose to place a deposit where no FSCS protection is available (for example because the protection of an equivalent overseas scheme is available or the FSCS scheme does not apply to you), you may be accepting the risk of insolvency of the Bank in respect of all or a greater part of the relevant deposit.

12.3 Please note that Banks located outside the UK are not covered by the FSCS and the compensation arrangements governing them will depend on the country or jurisdiction in which they are regulated. Compensation schemes in overseas jurisdictions may not offer equivalent protection to that provided by the FSCS and may offer a lower amount of compensation. The amount of cover available to you will depend on your status and the country involved.

12.4 You should be aware that, as deposits placed via Insignis are under a Trust structure, in the event of a Bank holding your funds failing, it may take up to three months for you to receive compensation if eligible. For further information on FSCS repayment timelines, please refer to the FSCS website at www.fscs.org.uk/what-we-cover/banks-building-societies/.

12.5 As Insignis holds all funds within the Hub Account(s), the cash ISA Hub and Deposit Accounts on trust, an insolvency practitioner would not generally view such funds as forming part of Insignis’s estate. This means that in the event of Insignis’s insolvency, the funds that Insignis holds on trust for you should not be available to Insignis’s creditors to satisfy their claims against Insignis. Instead, the monies held on trust will only be distributed to clients we held those funds for, including you, following the deduction of the insolvency practitioner’s costs, and any other costs that are deductible under applicable law. Please be aware that Insignis is not a deposit taker, so you will not be able to make a claim to the FSCS in relation to any funds you have placed with Insignis as a legal entity if Insignis were to become insolvent.

13. ACCOUNT INFORMATION SERVICES

13.1 Insignis’s Account Information Services allow you to access and view information relating to your selected accounts with ASPSPs via the Platform.

13.2 With your explicit consent, we access information relating to your selected accounts(s) (“Account Information”) and transmit such information to the Platform and display it. Such information may include:

13.2.1 Financial transaction history, for example, transaction amount, data, description and currency;

13.2.2 Financial account details, for example, account number, type, currency and balance; and

13.2.3 Financial account holder information, for example, name, address, phone number, and email address.

13.2.4 Payment order details, for example, standing order details and direct debit details.

13.2.5 Details relating to the particular product you hold, for example, account interest rate, fees and charges, any special offers relating to it.

13.3 Before receiving the Account Information Services, you will be asked to select which ASPSP(s) you would like us to access Account Information from. You will need to give your explicit consent to us accessing your Account Information from the ASPSP you have selected. Please note, you will be redirected to your Account Provider's website or mobile application in order to authenticate yourself so that your Account Provider knows that you consent to us accessing your Account Information.

13.4 Once you have authenticated yourself, we will request your Account Information from your ASPSP on a periodic basis in accordance with your consent until the consent expires or is withdrawn. You may withdraw or vary your consent for Insignis to access an account/provide the Account Information Services at any time – you can do this via the Platform or by contacting the relevant ASPSP.

13.5 We access your Account Information via a dedicated interface made available to us by your ASPSP. This allows us to make requests to your ASPSP to send us items of Account Information. Your Account Provider will then send this information to us, unless you have told them not to.

13.6 We do not check the accuracy of the Account Information retrieved from your ASPSP and we rely on your ASPSP to ensure that your Account Information is up to date and accurate.

13.7 We may standardize, categorize, merge, aggregate, and otherwise process your Account Information before displaying it via the Platform.

13.8 We do not impose any separate fees for the Account Information Services.

14. INDIVIDUAL AND JOINT ACCOUNTS

14.1 When completing an Application you must specify whether you would like to open your Account on an individual or joint basis. cash ISAs and the cash ISA Hub cannot be opened on a joint basis.

14.2 If you instruct us to open your Account in your sole name, the amounts held in the Hub Account(s) or the cash ISA Hub and any Deposit Accounts for your benefit will be held for you absolutely and not for the benefit of any other person.

14.3 If you instruct us to open a Joint Account for more than one person, the amounts held in the Hub Account(s) and any Deposit Accounts for your benefit will be held for such persons jointly. Some Deposit Accounts cannot be held jointly. Where your monies are deposited in such Deposit Accounts, it will be deposited in the sole name of one of the Joint Account Holders. We will try to ensure that your other accounts and deposits are held in the name of the other Joint Account Holder(s), such that overall funds are held equally in the Joint Account Holders’ names (to the extent possible).

14.4 We may accept instructions from either party in respect of Joint Accounts, including in respect of withdrawals. If we become aware of a dispute between Joint Account Holders, we may require all Joint Account Holders to authorise any instructions given in relation to the Joint Account.

14.5 In respect of Joint Accounts and Joint Account Holders, references to “you” or “your” in this Agreement are to any person in whose name the Joint Account is held and we may exercise our rights or obligations under this Agreement against any person who is named on that Joint Account. Each term and condition applies to you both individually and together.

14.6 We may give any notice or communication to any one or all persons in whose names a Joint Account is held and any notice or communication, made to any one person, shall be deemed as having been made to all Joint Account Holders.

15. FEES

15.1 The Fees payable by you shall be calculated in accordance with the rates set out in the Fees Table together with VAT (to the extent applicable).

15.2 Fees will be calculated and incurred daily at the applicable rate and paid in arrears on a monthly basis. The minimum fee charge is 3 months. You agree that we may automatically collect any Fees, which are due from the amounts held on your behalf in the Hub Account(s). If you do not have sufficient funds in the Hub Account(s), we may, where possible, set aside funds from a Deposit Account to pay all currently due Fees. We might collect outstanding Fees at any point at which funds become available. Additionally, we may collect your Intermediary’s Fees in accordance with clause 9.5 in the same manner.

15.3 Where this Agreement is terminated:

15.3.1 if you have used the Cash Management Service for less than 3 months, you shall pay us an amount equal to the Fees you would have incurred had the Agreement continued for 3 months in total. The amount will be calculated using the assumption that you would have maintained your average level of funds placed on the Cash Management Service for the remaining duration of the 3 months;

15.3.2 if you have used the Cash Management Service for more than 3 months, you shall pay such outstanding Fees as you have incurred up to the point of termination.

15.4 You must, at all times, retain a level of funds in the Hub Account(s) which is, at least, equal to your current Annual Fee Amount. Where your Annual Fee Amount increases (for example, due to you depositing additional funds), we will retain such additional amounts from the deposited and/or credited funds which have led to the increase in your Annual Fee Amount as are necessary to ensure you have funds equal to your increased Annual Fee Amount in the Hub Account(s).

15.5 Without prejudice to any other right or remedy that Insignis may have, if you fail to pay us in full in cleared funds on the due date, we may claim interest under the Late Payment of Commercial Debts (Interest) Act 1998 and you shall be liable to pay the interest immediately on demand.

15.6 Our Fee arrangements can be varied in accordance with this agreement. This includes the Fees that relate to the service that we provide to you in respect to the Deposit Account subject to a Fixed Term. Any changes to Fees will be done in accordance with this section 15 and clause 22.1.

15.7 Where we change any Fees, as specified in section 22, we will only do so if we give you at least two months’ notice (either in writing or via another durable medium) of any changes to these Fees before they are intended to take effect. Changes to Fees will automatically come into force at the expiry of the notice period and you will be treated as having accepted them, unless you notify us of an objection to the changes (as per section 22).

15.8 Where you do object to a change in the Fees prior to the expiry of the relevant notice period, in accordance with clause 21.2, you may do so through terminating these Terms and Conditions by notifying us in writing at any time after receiving a notification of change of the Fees and before they come into force. If you do not terminate these Terms and Conditions, you will be deemed to have accepted the changes.

15.9 Where you do request to terminate in response to a proposed change in Fees and you have funds in Deposit Accounts that cannot be withdrawn from prior to the Fee change taking effect (for example, a Deposit Account subject to a Fixed Term that cannot be broken within two months), we will not apply the fee changes to you whilst you still have monies in those Deposit Accounts. Your current fee arrangements will remain applicable until all monies are capable of being withdrawn and the termination takes effect. However, during this time, you will also not be able to place anymore monies on the Platform or select any new Deposit Accounts. If you place additional funds on the Platform and/or select any new Deposit Accounts, you will need to accept the new Terms and Conditions and/or Fee arrangements.

16. CANCELLATION

16.1 Subject to clause 16.4 you have 14 days to cancel these Terms and Conditions beginning on the date we open your Account or the date you receive these Terms and Conditions (the Cancellation Period), whichever is later. If you wish to cancel these Terms and Conditions, please notify us by emailing client.services@insigniscash.com. Following receipt of your completed cancellation request, we will return any money transferred to your Nominated Account as soon as reasonably practicable. You will not be charged for the cancellation.

16.2 Certain Deposit Accounts may grant depositors a right to cancel. Where a Deposit Account provides a cancellation right, we will only exercise the cancellation right where instructed to do so by all clients on behalf of which we hold the Deposit Account (including you), and in compliance with any restrictions on the cancellation right (including, but not limited to, time limits).

16.3 A cancellation right is separate from any right to realise deposits standing to credit in a Deposit Account (in whole or in part), and therefore it may be possible for you to withdraw your funds from a Deposit Account without requiring that we exercise a cancellation right (subject to the specific terms of the Deposit Account).

16.4 If you choose to place your money in a Deposit Account that does not have a right to withdraw funds (through any means) during the period mentioned in clause 16.1, you cannot cancel these Terms and Conditions. In such circumstances, you must normally wait until the Deposit Account permits withdrawals in accordance with its terms before terminating these Terms and Conditions. If you do wish to cancel or terminate these Terms and Conditions after instructing us to place your monies in such a Deposit Account, your ability to withdraw the funds and for the termination to take effect may be at the discretion of the Bank which has provided the Deposit Account in question (and it may not permit the withdrawal). If the Bank does permit an early breakage of a Deposit Account, you may still be subject to charges or penalties (including the loss of any interest and/or a deduction from your deposited sum to compensate the Bank for the losses suffered in releasing your funds early) as a result of the terms of the Deposit Account. The existence and scale of such fees will be disclosed to you on the Platform prior to you instructing us to place your monies in the Deposit Account.

16.5 Any money that you have transferred to the Hub Account(s) but not placed in Deposit Accounts may be returned to you at any time.

17. DOCUMENTATION AND STATEMENTS

17.1 Through the Platform, you are able to download statements setting out the amount of the deposits standing to the credit of the Hub Account(s) and/or the cash ISA Hub and/or any Deposit Accounts that we are holding on trust for you.

17.2 Provided that we are given the information by the relevant Bank(s), you will be able to download, via the Platform, an annual statement of interest setting out the amount of interest received within the last relevant tax year for any Deposit Account(s) we are holding on your behalf.

17.3 You may obtain a copy of the latest version of these Terms and Conditions at any time via the Platform. You will be informed of any changes to our Terms and Conditions or any changes to Fees with at least two months’ notice (either in writing or via another durable medium) before they are intended to take effect, as described in clause 22.

17.4 You must read and ensure that statement is accurate. In the event of any inaccuracy, please contact us promptly via the Platform or by telephone (01223 200 674).

18. OUR LIABILITY TO YOU

18.1 If we do not comply with the Terms and Conditions then, subject to clauses 18.2 and 18.3, we will only be responsible to you for any loss or damage you suffer as a result of our breach of the Terms and Conditions. We will not be responsible under any circumstances for any loss or damage that was not foreseeable to both you and us at the time you entered into the Terms and Conditions (such as loss of profits or other opportunities). However, we will always try our best to get in contact with you by telephone, email or letter in any event where we foresee a risk for you.

18.1.1 nothing in the Terms and Conditions excludes or limits our liability for death or personal injury arising from our negligence, our fraud, fraudulent misrepresentation, or any other liability that cannot be excluded or limited under English law.

18.2 In addition to clauses 4.7, 6.3, 8.4, 8.7 and 18.1 (and subject to Condition 18.14), we shall not be liable to you for:

18.2.1 any default, of any nature or for any reason, by any Bank holding the Hub Account(s), the cash ISA Hub or a Deposit Account in relation to returning the amount of any deposit(s) placed with such Bank, or in relation to any interest on that deposit;

18.2.2 any loss, damage, interruption, disruption or impairment, including unavailability of the internet, of our services suffered by you as a result of a Bank holding the Hub Account(s), the cash ISA Hub or a Deposit Account going into liquidation or a receiver, trustee, administrator or other insolvency practitioner being appointed or the equivalent proceeding in any applicable jurisdiction to the relevant Bank;

18.2.3 any loss, damage interruption, disruption or impairment, including unavailability of the internet, of our services or any third-party services on which we rely for the performance of our obligations suffered by you as a result of the Platform being unavailable for whatever reason;

18.2.4 any direct, indirect loss or damage you may suffer including loss of revenue, loss of reputation, goodwill, opportunity or anticipated savings as a result of your total or partial use or inability to use the Platform; or

18.2.5 any Event Outside of Our Control in accordance with section 18.

18.3 We do not exclude or limit in any way our liability where we cannot exclude or limit our liability by law or regulation.

18.4 Any ratings information provided by Insignis is not intended to be comprehensive and should not be regarded as being a complete source of information. Insignis do not take any responsibility for any errors or omissions in the information provided. You are advised to seek independent professional advice before acting on any ratings information.

19. EVENTS OUTSIDE OUR CONTROL

19.1 We will not be liable or responsible for any failure to perform, or delay in performance of, any of our obligations under these Terms and Conditions if it is caused by an Event Outside Our Control.

19.2 An Event Outside Our Control means any act or event beyond our reasonable control and may include: the acts or regulations of any government, supranational body or authority, breakdown, failure or malfunction of any telecommunications or computer service or services, industrial disputes, and acts of war, terrorism, civil unrest, natural disaster and any other force majeure event.

19.3 If we become aware of an Event Outside Our Control that affects our provision of the Cash Management Service, the cash ISA Service or these Terms and Conditions, we will contact you as soon as reasonably possible.

19.4 Our obligations under these Terms and Conditions may be suspended and the time for performance of our obligations will be extended for the duration of the Event Outside Our Control. We will use reasonable endeavours to recommence the provision of the Cash Management Service and cash ISA Service as soon as reasonably possible after the Event Outside Our Control is over.

20. CUSTOMER COMPLAINTS

20.1 If you wish to complain about any of aspect of the Cash Management Service or cash ISA Service, including the manner in which we provide the Cash Management Service or cash ISA Service, you should contact us via telephone (01223 200 674) or by email at client.services@insigniscash.com. We will handle your complaints in accordance with our complaints handling policy. A copy of our Customer Complaints Procedure is available on our website at https://www.insigniscash.com/complaints/.

20.2 If you have made a complaint and you are not satisfied with the way we dealt with it, you may be able to take your complaint to the Financial Ombudsman Service (FOS), which is the organisation that give consumers a free and independent service for resolving disputes with financial firms. The FOS contact details are:

Financial Ombudsman Service
Exchange Tower, London E14 9SR
Email: complaint.info@financial-ombudsman.org.uk
www.financial-ombudsman.org.uk

21. TERMINATION

21.1 You may terminate these Terms and Conditions by notifying us in writing at any time. Any termination will be effected in accordance with clause 21.2.

21.2 Following our receipt of your notice, these Terms and Conditions will terminate as soon as practically possible and any funds we hold on your behalf will be transferred to your Nominated Account, subject to the following:

21.2.1 where you have no funds in any Deposit Accounts, or you only hold funds in Deposit Accounts where it is possible to immediately withdraw your funds without detriment to any other client with funds in the Deposit Account, we will immediately transfer all funds being held on your behalf to the Hub Account(s) or the cash ISA Hub;

21.2.2 where you have funds in any Deposit Account from which it is not possible for you to withdraw funds until a specified date and/or where a withdrawal would detriment the remaining clients with funds in the Deposit Account, we will only transfer funds being held on your behalf in such Deposit Accounts once we are able to withdraw them without detriment to other clients;

21.2.3 what will happen to funds held in a cash ISA in the event that you wish to withdraw your money and close your cash ISA will be set out in the relevant cash ISA Terms.

You will need to close any cash ISAs you hold through our cash ISA Service before we can close your Account. Once all proceeds have been transferred to your Nominated Account (or, in the case of a cash ISA, transferred to your Nominated Account or another ISA manager in accordance with your instructions and/or the cash ISA Terms), these Terms and Conditions will be terminated. The Fees you have incurred up to the point of termination, but have not yet been paid, will be deducted from the amounts held in the Hub Account(s) before the funds are transferred to your Nominated Account.

21.3 You agree and acknowledge that following your notification to terminate these Terms and Conditions, you are not permitted to submit any Account Instructions which would result in funds being placed in

21.3.1 a Deposit Account where it would not be possible to withdraw funds until a date after the latest maturity date of your current Deposit Accounts; or

21.3.2 a Deposit Account where withdrawing on or before the latest maturity date of your current Deposit Accounts would cause detriment to other clients with funds in the Deposit Account.

21.4 We may terminate these Terms and Conditions by notifying you in writing at any time. Such notice shall take effect either:

21.4.1 within 30 days of you having received our notification; or

21.4.2 upon the occurrence of the latest maturity date of your current Deposit Accounts, whichever is later.

21.5 When our notification takes effect, all proceeds from your Deposit Accounts will be transferred to the Hub Account(s) or, in the case of a cash ISA, to your cash ISA Hub or to another ISA manager in accordance with your instructions. The Fees you have incurred up to the point of termination, but have not yet been paid, will be deducted from the amounts held in the Hub Account(s) before the funds are transferred to your Nominated Account and these Terms and Conditions will be terminated.

21.6 You agree and acknowledge that where you receive a termination notification from us, you are not permitted to submit any Account Instructions which would result in the date of notification becoming effective being extended.

21.7 Any termination of these Terms and Conditions shall be without prejudice to any rights that have accrued to either party.

22. CHANGES TO THESE TERMS AND CONDITIONS

22.1 Subject to clause 22.2, we will give you at least two months’ notice (either in writing or via the Platform) of any changes to these Terms and Conditions before they take effect.

22.2 Any change to these Terms and Conditions which is required to be made to reflect a change of applicable law or regulation may take effect immediately (without notice) or otherwise as we may specify. Where this occurs, we will attempt to notify you before the change takes effect, if possible, but failing that, will notify you via the Platform, telephone (01223 200 674), or email (client.services@insigniscash.com) as soon as possible after the change becomes effective.

22.3 Changes will automatically take effect on the expiry of any notice, unless you notify us via the Platform, telephone (01223 200 674), or email (client.services@insigniscash.com) that you object to them.

22.4 Where you do notify us that you object to them, this will be treated as a request to terminate these Terms and Conditions in accordance with section 21, and the termination will be effected in accordance with section 21 – you will not incur any additional Fees due the termination (but you will remain liable for any Fees incurred up to the point of termination).

23. COMMUNICATIONS

23.1 Communication between you and us shall be done by telephone, email or online by way of messages or notifications through the Platform. All such communications shall be made in English. Unless explicitly provided for otherwise, all written communications shall be sent by email which shall be deemed delivered the next working day in the absence of reasonable evidence of non-delivery, such as an ‘undeliverable email’ notification (but an ‘out of office’ reply email from an intended recipient shall be good evidence of delivery).

23.2 If you wish or are required to contact us in writing you can do so by email or by writing to Insignis, St John's Innovation Centre, Cowley Road, Cambridge, England, CB4 0WS.

23.3 If we have to contact you (including where we have to notify you) in writing, we will do so by e-mail, by telephone or by post to the address you provide to us as part of your Application.

23.4 If laws and/or regulations require that we have to contact or give you notice in writing, we will do so by e-mail, by telephone or by post to your latest address communicated to us. You agree to promptly notify us via telephone (01223 200 674) if your email address, postal address or telephone number changes at any time. If you fail to notify us of any change and we contact you using the details we currently hold, we shall be deemed to have complied with our obligations under these Terms and Conditions.

23.5 Where you notify us of a change of address, you will provide us with such additional information/evidence of change of address as we may require.

24. DATA PROTECTION

24.1 We are registered as a data controller with the Information Commissioner’s Office (ICO) under the Data Protection Act 1998, registration number (ZA158030). A copy of our Privacy Notice is available at https://www.insigniscash.com/privacy-policy/. A copy of our Data Protection Policy is available on request. We will handle your Personal Information in line with our Data Protection Policy.

24.2 The information we hold about you is to assist us in providing the Cash Management Service and the cash ISA Service to you. You agree that we may possess your information for these purposes and that we may pass it on to a Bank. This information is confidential and will only be disclosed to other parties in the following circumstances:

24.2.1 where required or permitted by law or regulation within the United Kingdom and/or other jurisdictions;

24.2.2 or the purpose of reporting our obligations to His Majesty’s Revenue and Customs (“HMRC”) who may exchange this information with the applicable local tax offices in other countries;

24.2.3 to investigate or prevent fraud or other illegal activity;

24.2.4 to third parties in order to open or close accounts or transfer funds or for anti-money laundering purposes as required as part of the services we provide to you; and

24.2.5 at your request or with your consent.

24.3 You have a right to request access to your Personal Information, and ask that we correct, amend or delete that information if it is inaccurate or has been processed in violation of the UK General Data Protection Regulation (GDPR) principles. Under UK GDPR we aim to respond to this sort of request within 30 days. Should we be unable to meet this deadline we shall keep you informed.

24.4 Clients that provide us with Personal Information, or whose Personal Information we obtain from Third Parties, may receive periodic emails, mailings or other forms of electronic communication from us with information on our services, on news or developments or upcoming special events we believe may be of interest. We offer our clients the option to decline these communications at no cost to the individual client.

25. OTHER IMPORTANT TERMS

25.1 A waiver of any right or remedy under these Terms and Conditions is only effective if given in writing and shall not be deemed a waiver of any subsequent breach or default. A failure or delay by a party to exercise any right or remedy provided under these Terms and Conditions or by law shall not constitute a waiver of that or any other right or remedy, nor shall it preclude or restrict any further exercise of that or any other right or remedy. No single or partial exercise of any right or remedy provided under these Terms and Conditions or by law shall preclude or restrict the further exercise of any such right or remedy.

25.2 Unless specifically provided otherwise, rights arising under these Terms and Conditions are cumulative and do not exclude rights provided by law.

25.3 If any court or competent authority finds that any provision of these Terms and Conditions (or part of any provision) is invalid, illegal or unenforceable, that provision or part-provision shall, to the extent required, be deemed to be deleted, and the validity and enforceability of the other provisions of these Terms and Conditions shall not be affected.

25.4 These Terms and Conditions constitute the entire agreement between the parties and supersede and extinguish all previous drafts, arrangements, understandings or agreements between them, whether written or oral, relating to the subject matter of these Terms and Conditions.

25.5 Each party acknowledges that, accepting these Terms and Conditions, it does not rely on, and shall have no remedies in respect of, any representation or warranty (whether made innocently or negligently) that is not set out in these Terms and Conditions.

25.6 Each party agrees that its only liability in respect of those representations and warranties that are set out in these Terms and Conditions (whether made innocently or negligently) shall be for breach of Agreement.

25.7 You shall not, without our prior written consent, assign, transfer, charge, mortgage, sub-contract or deal in any other manner with all or any of your rights or obligations under these Terms and Conditions.

25.8 Nothing in these Terms and Conditions is intended to, or shall operate to, create a partnership between the parties.

25.9 Except as expressly provided in these Terms and Conditions:

25.9.1 neither party authorises the other party to act as agent for it; and

25.9.2 neither party shall have authority to act in the name or on behalf of or otherwise to bind the other in any way (including the making of any representation or warranty, the assumption of any obligation or liability and the exercise of any right or power).

25.10 A person who is not a party to these Terms and Conditions shall not have any rights under or in connection with it pursuant to the Contract (Rights of Third Parties) Act 1999.

25.11 We may be paid interest by a Hub Account Provider or cash ISA Hub Provider on sums held in a Hub Account(s) or a cash ISA Hub, but no interest will be paid to you in relation to sums held in any Hub Account(s) or cash ISA Hub. If a Hub Account Provider or cash ISA Hub Provider pays interest into a Hub Account(s) or a cash ISA Hub, such interest will not be held in the relevant Hub Account(s) or cash ISA Hub on trust for you as set out in these Terms and Conditions but will instead be our legal and beneficial property. You shall have no entitlement to, or rights in respect of, such amount, and we will be free to withdraw it from the relevant Hub Account(s) or cash ISA Hub at any time and shall generally do so as soon as we can.

26. DEFINITIONS

“Account” means your account with us in respect of the Cash Management Service and where applicable the cash ISA Service, including the Hub Account(s), the cash ISA Hub and all Deposit Accounts in respect of which you have monies deposited at any one time.

‍“Account Information Services” means the services described in clause 13 of these Terms and Conditions, where we connect you to your payment account at an ASPSP and are able to show you data relating to that payment account on the Platform.

‍“Account Instruction” means instructions submitted to us via the Platform for placing or withdrawal of funds to or from Bank(s) and/or the Hub Account(s) or cash ISA Hub, as the case may be.

‍“Annual Fee Amount” means the amount of Fees we calculate you will incur in the next 12 months based on the current applicable fee rates and the assumption that you will maintain your current level of funds within the Cash Management Service. We will calculate this on an ongoing basis according to changes in the level of funds you hold within the Cash Management Service.

‍“Anti-Money Laundering” means all Laws and Regulations related to money laundering but not necessarily limited to, the Proceeds of Crime Act 2002, The Money Laundering Terrorist Financing and Transfer of funds Regulations 2017, The guidelines of the Joint Money Laundering Steering Group, and any applicable FCA rules as amended from time to time.

‍“Application” means the “online” application form we require you to complete, and supporting information and documents we may require you to provide, in order to open an Account with Insignis and, where relevant, an application for a cash ISA.

‍“ASPSP” means a third-party Bank that provides you with a payment account which can be accessed online, and which can be accessed via the Payment Initiation Services and Account Information Services.

‍“Bank” means a bank, building society or other recognised financial institution that is authorised in the UK (by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority) to accept deposits.

‍“Business Day” means a day on which Banks are open for business in the United Kingdom.

“Cash ISA” means a cash ISA account opened and operated in accordance with the ISA Regulations and made available on the Platform through the cash ISA Service, in respect of which an ISA Partner acts as ISA manager and Insignis provides administration services.

“Cash ISA Hub” means an account designated as an ISA account for the purposes of the ISA Regulations where subscriptions may be held pending placement in a Deposit Account or transfer to a Nominated Account or to Another ISA Manager in accordance with relevant cash ISA Terms.  

“Cash ISA Hub Provider” means a Bank or Banks of our choosing providing the account(s) we use as a cash ISA Hub for the purposes of these Terms and Conditions from time to time.

“Cash ISA Service” has the meaning set out in section 2.  

‍Cash ISA Terms” means the terms in place between you and the ISA Manager of a cash ISA, governing the provision of that cash ISA.  

‍“Cash Management Service” has the meaning set out in section 2.

‍“Deposit Account” means an account opened by us, either:

(a) in our name (on a designated trust basis) on behalf of certain clients, including you, on their instruction, as beneficiaries, or

(b) in your name as the sole legal and beneficial owner, with a Bank.

‍“Event Outside Our Control” has the meaning given in clause 18.2.

‍“FCA” has the meaning given in clause 1.6.

‍“Fees” means each and all of the charges falling due in relation to the Hub Account(s) and/or each Deposit Account maintained and managed with these Terms and Conditions, as disclosed in the Fee Table.

‍“Fee Table” means the document detailing the rate(s) used to calculate the Fees that may be applied to an Account, as amended from time to time.

‍“FSCS” means the Financial Services Compensation Scheme, being the scheme established pursuant to the Financial Services and Markets Act 2000 under which deposits placed with Banks authorised by the FCA are afforded protection against default of the relevant Bank up to a certain amount per depositor per Bank and includes any successor scheme or entity under any succeeding or subsequent legislation.

‍“Hub Account(s)” means one or more trust accounts opened and maintained by us in our name on behalf of our clients generally, including you, as beneficiaries, with a Hub Account Provider.

‍“Hub Account Provider” means a Bank or Banks of our choosing providing the account(s) we use as a Hub Account for the purposes of these Terms and Conditions from time to time.

‍“Intermediary” means any financial adviser or other professional intermediary that may have introduced/directed you to the Cash Management Service, and who may be appointed to act as your agent in relation to the Cash Management Service.

“ISA Manager” means the entity acting as ‘account manager’ for an ISA in accordance with the ISA Regulations.

“ISA Partner” means a third-party ISA Manager offering one or more cash ISA products which we have made available via the Platform.

“ISA Regulations” means the Individual Savings Account Regulations 1998.

‍“Joint Account” means an Account held in the name of two or more persons.

‍“Joint Account Holder” means any one or all persons (as applicable) in whose name a Joint Account is held.

‍“KYC Checks” means all and any requests for evidence of identity and/or creditworthiness and/or steps and or processes (including verification through third party providers) taken to verify any or all of the same, and all information requested by any of the Banks and/or us whether in relation to “Know Your Client” obligations, or legal or regulatory requirements in relation to Money Laundering Regulations and/or in relation to Account opening or maintenance requirements of any of the Banks and/or us.

‍“Logins” means the unique identifiers and/or details you are required to input to access the Platform.

‍“Money Laundering Regulations” means the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.

‍“Nominated Account” means an account at a Bank held by you in your name. Such account may be changed from time to time in accordance with clause 5.1.

‍“Payment Initiation Services” means the services described in clause 6 of these Terms and Conditions, where we connect you to your payment account at an ASPSP and can allow you to submit payment instructions in respect of that payment account via the Platform.

‍“Platform” means the web-based Application we will grant you access to in order to provide the Cash Management Service to you.

‍“Regulatory Obligations” means each and every requirement and obligation which are or may be imposed upon you, us and/or any Bank by law, regulation, court order, and/or the requirement of a regulator of a competent jurisdiction.

‍“Terms and Conditions” has the meaning given in clause 1.1.

‍“Website” means our website, available at https://www.insigniscash.com/.

‍“Working day” means a day that is not a Saturday, Sunday or statutory holiday in England and Wales.

‍“You”/ “your” means the individual, charity, corporate or any other such entity to whom the Cash Management Service is provided, as identified in the Application.

26.1 Any reference to any legislation, statute, rule, contract or any other document, is to such legislation, statute, rule, contract or other document as amended from time to time and as currently in force.

26.2 Any reference to “including” or “includes” in these Terms and Conditions shall be deemed to be a reference to “including without limitation”.

26.3 Any headings in these Terms and Conditions are provided for convenience only and shall not affect their interpretation.
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26.4 Any reference to a person in these Terms and Conditions shall include bodies corporate, unincorporated associations, trusts, partnerships and individuals.

26.5 Unless the context requires otherwise, words used in these Terms and Conditions in the singular shall include the plural, and words used in these Terms and Conditions in the plural shall include the singular.

26.6 If at any time any provision of these Terms and Conditions is or becomes illegal, invalid, or incapable of being applied in any respect under the law of any jurisdiction, all other provisions of these Terms and Conditions will remain legal, valid and capable of being applied under the law of that jurisdiction as well as under any other applicable law.