Savings Accounts & Term Investments

1 Definitions

2 Eligibility

To be eligible to open and manage an account with us, you must be an adult natural person with their principal residence in Germany or in a member state of the European Union/European Economic Area, or a legal entity duly registered in the German or European commercial register. You cannot open an account in the name of another person, unless there is a duly established and verified legal mandate.

It is your responsibility to maintain a valid email address in your profile and inform us of any changes. By creating an account, you agree to receive all account-related communications and documents electronically.

3 Identity verification and tax identification requirements

European and German anti-money laundering legislation (Geldwäschegesetz - GwG) requires us to obtain, verify and record information that identifies any person opening an account (KYC procedures). You accept this verification, in accordance with the law, and you agree to provide any necessary supporting documents (official identity document, proof of address, video verification or PostIdent). Your account will be activated once your identity has been verified and confirmed by our services.

We may also consult authorized credit reporting and reporting agencies (e.g. SCHUFA or Creditreform) to verify the data provided and assess risks, in strict compliance with the GDPR and § 31 BDSG.

Tax identification number (Steuer-IdNr.): Your German tax identification number (Steueridentificationkationsnummer) or foreign tax identification number (NIF/TIN) is required for tax compliance purposes, including under the Abgabenordnung (AO) and international automatic exchange of information agreements (CRS/FATCA).

4 Interest

Interest will be calculated for each Account in accordance with the provisions of this Agreement. The interest rate applicable to an Account may vary depending on its balance. You acknowledge that interest rates and calculation methods may be changed at any time without notice. We will notify you of any changes by publishing the new rate and any calculation changes on our Website. Interest earned on your Account(s) will be reported for tax purposes in accordance with the law.

5 Currency

All accounts operate exclusively in euros (EUR / €).

6 Privacy

By initiating the account opening process, you consent to the collection, use and disclosure of your personal information in accordance with our Privacy Policy. The latter forms an integral part of this Account Agreement, and your acceptance of the latter implies your agreement to the terms of our Privacy Policy. We may modify our Privacy Policy from time to time by posting any modified version on our website.

7 Account Holder Access

We will only accept account instructions from the account holder. We are not required to acknowledge any interest in the account to anyone other than the account holder, or to obtain permission from any other person, unless you have expressly authorized third party access and we have consented to this (for example your legal representative, agent or executor).

In the event that we receive a court order directing us to hold funds in or intended for deposit into an Account, we may take any action we deem necessary to lawfully comply with the court order without incurring liability to you.

8 Joint Accounts

When an account is opened as a joint account, each account holder is responsible, individually and severally, for all obligations relating to the account. Any holder of a joint account, and their legal representatives, may carry out transactions on the joint account and we may accept instructions from any holder for any transaction.

In the event of the death of a joint account holder, the rights to the account are governed by the provisions of the German Civil Code (BGB) and the applicable inheritance law. The surviving joint holder retains management of the account subject to the presentation of an heir certificate (Erbschein) or the legitimate instructions of the heirs.

9 Business Accounts & Restricted Businesses

In some cases, you can open an account in the name of a business. Each authorized person has full authority to carry out transactions and give instructions relating to the account. The Bank requires confirmation of the identity of beneficial owners (owning 25% or more) and verification of politically exposed persons.

10 Electronic Identification (Login ID)

You will be asked for your customer number and your PAC code each time you want to access your account. It is your responsibility to keep your login ID secure and not share it with anyone. Please ensure that it remains strictly confidential.

11 Instructions

You may give us your account instructions by telephone, through online or mobile banking, or by any other means acceptable to us. Any instructions transmitted by these means will be treated as a written and signed instruction after verification of your identity.

12 Electronic Communications From You

Any electronic communication received from you or on your behalf will be deemed duly authorized by you. A copy of any electronic communication will be admissible as evidence in any judicial, administrative or other proceeding, in the same way as an original written document.

13 Online Account Transaction History

We will make information about your accounts and transactions available to you each month via online banking. You understand and agree that we will not provide paper copies of your account statement. Paper statements will only be mailed upon request, and administrative fees may apply.

14 Transaction Verification (30-Day Limit)

You agree to regularly review your transaction history and each account statement to confirm the validity of all transactions. You must notify us of any errors, omissions, irregularities or discrepancies within 30 days of the settlement of any transaction, including the opening of a term investment. If you do not inform us within this period, the registration and the amount of the transaction will be considered final and accurate. If we mistakenly credit your account with an amount, we may correct this error at any time.

15 Bankruptcy / Legal incapacity

We will not authorize you to withdraw money from or carry out any transaction on your Account if we discover that you have been subject to personal insolvency or bankruptcy proceedings, or if you have been declared legally incapable of managing your own affairs, subject to the powers conferred on a duly authorized receiver or legal agent.

16 Legal deposit guarantee (EinSiG)

17 Right of Set-off

We reserve the right to set off any amount in your Account to settle any debt or obligation owed to GLOBAL BANK FINANCIAL. You agree that we may use all or part of the funds in your Accounts to pay any debt you owe to us, without notice.

18 Consent to Electronic Delivery of Documents

You consent to the electronic transmission of all documents, declarations, legal notices (in particular under the Kreditwesengesetz (KWG), the Commercial Code (HGB) and the Abgabenordnung (AO)), rate change notices and conditions by email, SMS or via online and mobile banking services.

Retention: The statements are available online for 10 years in accordance with the obligations of the German Commercial Code (HGB). Other documents are kept for at least 5 years after account closure.

You may revoke your consent to electronic delivery at any time by closing your account. By continuing to use your account, you accept any changes to the electronic transmission terms.

19 Complaints or Concerns

We are committed to providing quality service to our customers. If you have a question or complaint regarding your account or any product or service we offer, please do not hesitate to contact us so that we can remedy it as quickly as possible. You also have the option of contacting the competent banking mediator in Germany or the BaFin.

20 Official Contact Details

GLOBAL BANK FINANCIAL

Kolonnenstraße 8 10827 Berlin Deutschland
Phone : +49 163 5720964
Email: info@globalbankfinancial.com

21 Conflict of Terms

If there is any conflict or inconsistency between the terms of this Account Agreement and the terms of any other agreement between you and us, the terms of this Account Agreement will control for purposes of the Account.

22 Limitation of Liability

We assume no liability for any losses, costs, damages or loss of profits relating to your use of an Account or our other products and services, whatever the cause, except in the event of gross negligence on our part. In the event of gross negligence on our part, you cannot hold us liable for any indirect, special or consequential damage.

23 Indemnification and Loss

You agree to indemnify us and our officers, directors, employees and agents against any claims, costs and liabilities incurred by us in connection with the services provided. You are responsible for all losses resulting from the use of your Account or access granted to third parties.

24 Contract Modifications

We may modify this Account Agreement at any time by posting on our website or electronic notice. You may reject the changes by terminating this Agreement and closing your account without fees or penalties within 30 days after the changes become effective.

25 Language / Language Stipulation

The parties agree that this Account Agreement and all related documents and communications are available in French, German and English.

26 Jurisdiction

This Account Agreement is governed by the laws of the Federal Republic of Germany and applicable European Union law. In the event of a dispute, the competent courts of Germany shall have sole jurisdiction, subject to mandatory consumer protection rules.

1 Application & General Framework

This section applies to high-interest savings accounts offered by GLOBAL BANK FINANCIAL. Opening a personal savings account allows you to subscribe to our other investment solutions (notably our term savings formulas and savings plans). Our savings accounts have no minimum account maintenance fees.

2 Interest Calculation and Payment

Interest begins to accrue on each euro deposited into your savings account as soon as it is registered for credit. We calculate interest daily based on balance increments. The rate in each bracket applies only to the portion of your daily closing balance that falls within that bracket. Interest is paid into the savings account according to the agreed frequency (monthly or annually).

3 Service Fees

The service fees relating to our savings accounts are detailed in the price list available on our website. You authorize us to deduct all charges incurred directly from your account. If we increase fees or introduce new fees, we will notify you at least 60 days before they take effect.

4 Electronic transactions and limits

Deposits or transfers received after 5:00 p.m. (Frankfurt time/CET) will have a value date of the following bank business day. It is your responsibility to ensure that your account has sufficient funds to cover all transactions initiated. We do not allow unauthorized overdrafts on savings accounts. The execution times for standard SEPA transfers are 1 working day.

5 Linked Accounts

You can link an external account with another financial institution established in the European Union or EEA to your name (reference account) by providing a valid bank identity statement (IBAN/BIC). We will only process outgoing transfers to accounts whose ownership information is strictly identical.

6 SEPA bank transfer

SEPA transfer services allow you to send funds in euros within the Single Euro Payments Area (SEPA zone). Transfers are executed in accordance with the legal deadlines of the European Payment Services Directive (DSP2 / ZAG), no later than the working day following the order.

7 Instant SEPA transfer

Thanks to the SEPA Instant Transfer (SCT Inst), funds in euros are transferred and credited to the beneficiary's account in less than 10 seconds, 24 hours a day and every day of the year. Once executed, the instant transfer cannot be canceled or recalled.

8 Electronic bill payments

You can make one-time or recurring payments to registered third-party beneficiaries from your savings account. It is your responsibility to ensure that the account is properly funded by the payment due date.

9 SEPA direct debits (SEPA-Lastschrift)

Direct debits in euros are carried out in accordance with the rules of the SEPA Direct Debit (Core or B2B) scheme established by the European Payments Council (EPC) and the provisions of the German Civil Code (BGB). You have a legal period of 8 weeks to request reimbursement of an authorized SEPA Core direct debit.

10 Availability of funds and processing times

The processing and verification time for deposited transfers complies with European interbank rules. The credited funds are made available upon confirmation of effective payment by the issuing financial institution.

11 Inactive or Dormant Accounts

An account is considered inactive if it has not recorded any customer-initiated transactions for a period of 1 year. Legal notices of inactivity are sent to the holder. In accordance with German law (BGB §§ 195, 199), unclaimed claims are subject to the applicable statutory limitation rules.

12 Management services and digital repositories

The service allows you to manage all of your deposits and financial transactions directly from our secure mobile and web application, with strong authentication in accordance with European directives (PSD2, RTS).

1 Issue and duration of term investments

Investments and term deposits (Festgeld) GLOBAL BANK FINANCIAL are fixed term investments issued for a fixed term starting on the Effective Date and ending on the Maturity Date, with a guaranteed interest rate for the entire agreed term.

2 Interest Calculation and Payment

For term investments with a duration of less than one year, simple interest is calculated daily and paid at maturity. For terms of one year or more, interest is calculated on an annual basis according to the banking methods in force (act/360 or act/365) and paid at maturity or annually into your reference account.

3 Non-Transferability

Deposits and term investments are not negotiable, assignable or transferable to third parties without our prior written consent.

4 Investment redemption and maturity

Term deposits GLOBAL BANK FINANCIAL are investments locked until maturity. Early redemption is not permitted, except where required by mandatory legal provisions or in cases of force majeure provided for under German law.

5 Right of withdrawal within 14 days & Terms upon expiry

On the maturity date, unless otherwise instructed by you at least three (3) business days in advance, the capital and net interest acquired will be transferred to your savings account or renewed according to the conditions and rates applicable on that date.