Terms and Conditions for Inscape Special Reserve Account

1.1 Deposits

A.	The minimum you may open a Special Reserve Account with is £20,000. You may deposit additional amounts of at least £500 in your Special Reserve Account after it has been opened. The maximum account balance is £2,000,000.
B.	Deposits will only be accepted by way of cheque, by post, or by telegraphic transfer. We will issue you with a receipt as evidence of the amount you have deposited. Please keep the receipt safe and tell us immediately if it is lost or stolen, by telephone and confirm in writing.
C.	We will not accept a cheque payable to any third party
D.	If you pay a cheque into your Special Reserve Account, the funds will normally be cleared and you will earn interest after the third working day. A working day is any day other than a Saturday, Sunday or English public holiday. If a cheque or other item paid into your Special Reserve Account is returned unpaid, we will debit the amount of that item, and any interest we have paid on it.

1.2 Withdrawals and Closure

A.	Your Special Reserve Account does not have a maximum term.
B.	If you wish to close your Special Reserve Account in order to transfer the funds to the Inscape investment management service or for another reason, you may do so at any time by giving Inscape written notice by post. It will not be possible to arrange closure of your Special Reserve Account at an Abbey National branch.
C.	On closure of your Special Reserve Account, funds will be paid to your Inscape Fast Access Account if you decide to take up the Inscape investment management service. If not it can be transferred to an existing Abbey National account in your name or paid to you by a cheque posted to the address you give to us.
D.	You may make four withdrawals from your account per year, by giving Inscape written notice.
E.	Inscape does not make cheques payable to third parties. Inscape will only issue funds direct to our clients.
F.	In exceptional circumstances, it may be necessary to suspend your right to close your Special Reserve Account. In such cases, it may not be possible to give prior notice.

1.3 Interest

A.	The interest rate on your Special Reserve Account is variable and details of the current rate of interest are available from Inscape.
B.	We may vary the interest rate of your Special Reserve Account at any time on giving you notice in writing. If within 30 days of receiving the notice you inform us in writing that you do not accept the change and instruct us to close your Special Reserve Account, the interest rate change mentioned in the notice will cease to have effect and we will pay you any interest you have lost by reason of the change up to the date of closure of your Special Reserve Account.
C.	Interest will be calculated on a daily basis. Interest will be payable annually on 1 September or on earlier closure of the Special Reserve Account.
D.	The Special Reserve Account may offer a conditional bonus. This will only be paid when you transfer money from the account to Inscape's managed funds. If, after the transfer, you withdraw all or part of your managed funds within 12 months, we may require you to repay all or part of the bonus interest. The amount you may be required to repay will correspond to the amount of bonus interest paid on the sum that you withdraw, less any tax deducted. For example, if you transfer £20,000 into managed funds and then withdraw £10,000 within 12 months, you may have to repay half of the bonus interest, less any tax deducted. Bonus interest is payable on the average daily balance held in the account over the 6 month period prior to the transfer, or the period since the account was opened, whichever is shorter, but is calculated only on the amount which is eventually transferred into Inscape's Managed Funds.

1.4 Repayment
We may close your Special Reserve Account and repay the balance to you, or any person authorised, together with any interest due. If we do so, we will give you reasonable prior written notice which will be at least 30 days unless there are exceptional circumstances, e.g. fraud.

1.5 Taxation
You may be able to register with us to receive interest gross; otherwise interest will be paid net of income tax at the prescribed rate.

1.6 Statements
You will be sent a statement covering your Special Reserve Account on its closure.

2 Instructions and Communications

A.	Please send any correspondence regarding your Special Reserve Account to Inscape who are also authorised by us to give instructions to and communicate with you on our behalf for all purposes in connection with your Special Reserve Account and these terms and conditions. Please write to Inscape Investments Ltd, 7 Hanover Square, London, W1S 1HQ.
B.	You may give instructions and communications in writing or verbally (unless these terms and conditions or other documents say that writing is required) in accordance with the contact details we give you.
C.	We reserve the right not to act on instructions if we or Inscape have doubts about the identity of the person giving the instructions.
D.	To ensure that we give you the best service we or Inscape may record telephone conversations we have with you.
E.	All written communications to you will be sent to the last address you provided. In the case of a joint Special Reserve Account we may send written communications to the last known address of any one of you. We can ask you to confirm any change of address in writing.
F.	If you want us to e-mail or fax information to you we cannot accept responsibility for the privacy of the information once it has been sent to the e-mail address or fax number you have given us.

3 Joint Special Reserve Accounts

A.	Any communication from us to any of you will be assumed to be given to all of you. Any of you who receive a communication from us should show it to the other joint Special Reserve Account holders. Unless instructed otherwise by any of you, we may act on the instructions of any one of you. However we will require instructions from all of you to close your Special Reserve Account.
B.	If any of you die, we may treat the survivor or survivors as being solely entitled to your Special Reserve Account.
C.	If "you" are more than one person, each of your obligations under this agreement to us may be enforced against all or any of you

4 Variation of this Agreement
We may remove, change or add to these terms and conditions by giving you at least 30 days' written notice of any changes to:

(i)	conform with or anticipate any changes in the law, Codes of Practice or regulations;
(ii)	provide for the introduction of new or improved systems, methods of operation, services or facilities by us;
(iii)	take account of a ruling or guidance by a Court, Ombudsman, Regulator or similar body;
(iv)	reflect market conditions;
(v)	reflect general banking practice;
(vi)	make them clearer or more favourable to you; or
(vii)	rectify any mistake that might be discovered.

5 Inscape SRA notice
The notice we give you will be at least 30 days' prior notice unless the change is to your advantage, in which case we will give you notice within 30 days of the change. If the change is to your disadvantage you may close your Account (or switch it to another of our accounts) without having to pay any extra charges or interest for doing this. You may do this within 60 days of the date of our notice telling you of the change.

6 Complaints
If you have a complaint, please write to Inscape's Head of Client Relationship Support and Development at 7 Hanover Square, London W1S 1HQ . You have the right to complain directly to the Banking Ombudsman and we can provide you with the address if necessary.

7 Inability to Provide Services
If we are unable to provide any services to you because of any causes beyond our control (including strikes, industrial action or the failure of equipment or power supplies), neither we nor Inscape will be liable to you for any loss which you may suffer.

8 Your Statutory Rights and Other Conditions
Nothing in these terms and conditions will affect your statutory rights. These terms and conditions are also in addition to any other conditions which are implied or included in your contract with us by law, even if they do not appear expressly in these terms and conditions.

9 Governing Law
This agreement is governed by the law of the jurisdiction within the United Kingdom where you lived when you opened your Special Reserve Account.

10 Your Special Reserve Account is not Transferable
You cannot transfer your rights in your Special Reserve Account to someone else. This means that you cannot, for example, use the funds on your Special Reserve Account as security for money you borrow from another bank. This does not affect any transfer that takes effect by law, for example under your will.