Corporate Membership Terms & Conditions

1   Eligibility

1.1        To open a corporate membership Easy Access Savings account you must be a UK based business/charity or voluntary group within either of the following two categories:

Incorporated Organisations

Unincorporated Association

A private limited company limited by shares or by guarantee. A copy of the Company’s Certificate of Incorporation together with a copy of the Memorandum and Articles of Association

 

A public limited company limited by shares or by guarantee. A copy of the Company’s Certificate of Incorporation together with a copy of the Memorandum and Articles of Association

 

A limited partnership

A copy of the Company’s Certificate of Incorporation together with a copy of the Memorandum and Articles of Association

 

A limited liability partnership (LLPs)

A copy of the Company’s Certificate of Incorporation together with a copy of the Memorandum and Articles of Association

 

A Community Interest Company (CIC)

A copy of the Company’s Certificate of Incorporation together with a copy of the Memorandum and Articles of Association

 

A Right-to-manage (RTM) company

A copy of the Company’s Certificate of Incorporation together with a copy of the Memorandum and Articles of Association

 

A credit union

A copy of the Registration Certificates and Rules

 

An incorporated Industrial & Provident Society

A copy of the Registration Certificates and Rules

 

A Friendly Society

A copy of the Registration Certificates and Rules

 

A registered charity limited by guarantee or shares

   A copy of the registration documents.

A sole trader
Two of: Current Business Letterhead or Company Letterhead, Inland Revenue Certificate, Recent utility bill or statement in the name of the Business for the Business Premises, Letter from an Accountant or Solicitor

 

An ‘ordinary' partnership

Two of: Current Business Letterhead or Company Letterhead, Inland Revenue Certificate, Recent utility bill or statement in the name of the Business for the Business Premises, Letter from an Accountant or Solicitor

 

A credit union study group

A copy of the constitution

A list of officers, including names and addresses.

 

A trust

A copy of the Trust Deed.

A list of trustees, including names and addresses.

 

A project group

A copy of the constitution

A list of officers, including names and addresses.

 

A club, society or association

A copy of the constitution

A list of officers, including names and addresses.

 

An unincorporated charity

A copy of the constitution

  A list of officers, including names and addresses.

 

1.2   This account can only be used as a dual signatory corporate account and must not be used for personal or any other use.

1.3   We are obliged to confirm the true identity of all signature authorities on the account and reserve the right to decline any application or deposit.

1.4   The minimum deposit is £1 and the maximum deposit is £15,000.

1.5   A minimum of £1 must be held in the retailCURe account at all times in order to maintain membership.

1.6   Authorised persons must take all reasonable security precautions to prevent misuse of the account and account security details (this can include account details, and other security details which can include security codes, passwords or secure personal information which allow access to the account).      

 

2   Duration and Cancellation

2.1   For Corporate Membership holders who are also deferred shareholders or subordinated loan holders, a membership must be maintained during the period that the deferred shares are held within retailCURe.

 

3   Making a deposit

3.1   We will accept any number of deposits from you into the account. An aggregate total of £15,000 can be held on deposit in an Easy Access account with retailCURe (excluding interest paid).

3.2   If a payment is fraudulently or mistakenly paid into your account, the amount of the payment will subsequently be removed from your account. If you have transferred all or part of the moneys we will actively seek repayment from you.

3.3   Deposits must be made by electronic transfer from the nominated bank account (faster payments).

3.4   Faster payments may take up to 2 hours to credit the account from your nominated bank.

4   Interest

4.1   We will calculate interest on a daily basis on available money in the account, unless otherwise stated in these conditions.

4.2   Interest will be calculated from the day we receive cleared funds into the account. 

4.3   The interest rate will be set by retailCURe and all alterations will be communicated via our website.

4.4   All interest will be paid gross. It is signatories’ responsibility to report the income to H.M. Revenue & Customs.

4.5   If during the term of the account either signatory leaves the UK to reside in another EU member state, we will, in accordance with the provisions of the EU Savings Direct, inform H.M. Revenue & Customs of name, address, and interest credited to the account and in turn H.M. Revenue & Customs may pass this information to the tax authorities in the country in which they reside.

 

5   Dividend

5.1   At the end of each financial year (31st December), the Board of Directors may recommend a dividend, dependent upon the credit union's surplus in the year. Any dividend approved will be paid to the account following the AGM. The dividend will be calculated according to the balance in the account in the year ending on 31st December prior to the dividend payment.

5.2   If this date falls on a day other than a business day it will be paid on the following business day.

5.3   All dividend will be paid gross. It is signatories’ responsibility to report the income to H.M. Revenue & Customs.

 

6   Withdrawals

6.1   Available funds may be withdrawn. There must be dual signatories on all share withdrawals before they can be authorised. These will only be accepted on the appropriate withdrawal form.

 

7   Personal data

7.1   We may use the contact details provided, including address, email and telephone numbers, to contact you. You must phone us on 01614681888 or write to us at Unit 2 Slater House, Oakfield Road, Cheadle Royal Business Park, SK8 3GX or email at membersupport@retailcure.org.uk at your earliest convenience regarding any change of authorisation/signatory on the retailCURe account.

7.2   We may use, analyse and access your information to maintain and develop our relationships with you. We and other organisations may also access and use this information to prevent fraud and money laundering, for example:

  • To undertake statistical analysis, financial risk assessment, money laundering checks (which may include telephoning you), compliance and regulatory reporting, fraud prevention and recovering debt
  • To help us identify products and services which may be of interest to you (unless you have asked us not to)

7.3   We will disclose information outside retailCURe only:

  • To any persons, including, but not limited to, insurers, who provide a service or benefits to you or for us in connection with your account(s)
  • To licensed credit reference agencies as set out below
  • To fraud prevention and other agencies to help prevent crime or where we suspect fraud
  • If compelled to do so by law
  • For the purpose of compliance and regulatory reporting and to confirm your identity for money laundering purposes, which may include checking the electoral register
  • To any person we will or intend to transfer our rights or obligations.

7.4   We may also disclose information to licensed credit reference agencies about how you conduct your account(s) and this information may be shared with other financial institutions to help make financial decisions about you and anyone with whom you are linked financially or other members of your household.

7.5   Our enquiries or searches may be recorded – and credit reference agencies may supply us with financial information. If you make several credit applications within a short time, this may temporarily affect your ability to get credit.

 

8   Changes

8.1   We may make changes to the services or conditions of this account and we may introduce new services or conditions. Changes may be to the services or these conditions for the following reasons:

  • To make these conditions easier to understand or fairer to you
  • To correct mistakes, ambiguities, inaccuracies or omissions where it is reasonable to do so or as a result of customer feedback
  • To make improvements to the services we provide which are of benefit to you
  • To reflect changes in security design or technology at no increased cost to you
  • To respond to changes in the law, codes of practice, industry-wide fraud prevention practices, court or ombudsman decisions or new regulatory requirements or practice
  • To respond to changes in the general retail practices of banks and other organisations offering similar services including the terms on which they offer similar products
  • If we reasonably believe the change is necessary in the interests of our business as a whole, for example to protect our financial strength
  • Where the change is more favourable to you we will tell you of any change at the earliest opportunity after the change has been made in statement messages or statement inserts, or by writing to you (email/post). The change will apply to your account automatically from the date of the change
  • Where the change we make is not favourable to you we will tell you of any change by personal notice at least 30 days before we make the change. We will inform you via statement messages or statement inserts, or by writing to you (email/post). The new service or conditions will apply to your account automatically. However, if you do not agree to such a change you can, at any time up to 30 days from the date we tell you of the change switch your account or close it without paying any extra charges or interest. If you do not switch or close your account you will be deemed to have accepted the change.