Overview of the main changes to Keytrade Bank's Terms and Conditions

From 1 July 2025, a new version of Keytrade Bank's General Terms and Conditions will come into force.

Below is an overview of the main changes.

Contact details and accreditation of the Bank (Article 2)

The internet links to the Febelfin and ACPR websites have been updated.

Definitions (Articles 3.1 to 3.32)

The definitions have been organized alphabetically, completed and clarified.

“Bank” has been modified to match the new headquarters of Arkéa Direct Bank located at Tour Trinity – 1 bis, place de la Défense 92400, Courbevoie since 1 September 2024.

The notion of "Personal Client Zone” has been introduced.

Power of attorney (Article 6)

Article 6.1 no longer the granting of a power of attorney when filling out the Application to Open a Bank Account.

Article 6.5 is adapted to exclude from the powers of the proxyholder the power to lodge a claim, dispute or complaint that can only be made by the Client unless otherwise provided by law.

Article 6.7 is completed; the Client assumes full responsibility for all acts performed by the proxyholder in the exercise of his power of attorney.

In accordance with Article 6.8, the signature of a proxyholder commits the Client vis-à-vis the Bank without excluding the liability of the said proxyholder.

Notifications between the Bank and its Clients (Article 7)

The Client has the right to request a version of the General Terms and Conditions and other specific conditions on paper.

The Client is responsible for the inaccuracy of the e-mail address communicated or its functionalities.

A maximum size of 10 MB for emails sent by the Client has been established to ensure compatibility with the Bank's systems.

This article is also supplemented to require Clients to communicate courteously and respectfully with Keytrade Bank.

Unicity of account – connectedness – Bank guarantees (Article 11.2)

The Client's accounts are considered as a whole, so the Bank may, in certain cases, make transfers to generate a single balance.

The Bank also has the possibility, in certain cases, of offsetting the credit balance of a joint account or an account held by the Bank against the credit balance of an account held solely by the Bank.

Similarly, the Bank may offset the debit balance of an account of which a Client is a proxyholder against the credit balance of an account held by the Client, provided that the latter is the source of the debit balance.

Codes – Personal Client Zone (Article 12)

The title of Article 12 has been changed to reflect the use of the new concept of “Personal Client Zone".

The Client undertakes to comply with precautionary measures on any Device that can be used to connect to his Personal Client Zone

Duty of supervision – Blocking (Article 13)

Article 13 has been updated to reflect the possibility for Clients to contact the Bank 24/7 in the cases referred to in this Article.

Liability of liability (Article 14)

The provisions applicable to extra-contractual liability do not apply to the contractual relationship between the Bank (or its auxiliaries) and the Client.

Information – Claims and Complaints (Article 15)

In this article, a distinction is included between a dissatisfaction handled by the Bank's Contact Center and a complaint to be submitted to the Bank's Quality Care department.

The Bank will not process any request related to a matter that has been mediated by the Ombudsfin if the Client does not accept the outcome.

Following the amendment of this article, the former article 61 has been deleted.

Recording of telephone calls and electronic communications (Article 17)

The title of Article 17 has been amended to encompass electronic communications.

The Client has been told that all electronic communications or telephone conversations that give rise or are likely to give rise to Orders on Financial Instruments are recorded by the Bank and retained as specified in the Privacy Policy.

Tax obligations (Article 22)

Article 22 is supplemented by the invitation to the client to consult the information relating to the taxation of the products and services offered by the Bank, available on the Website, under the heading "Charges, rates and taxes".

Death (Article 24)

This article is corrected and amended so that the Client acknowledges and accepts that information on his accounts or on those of which he is the holder or co-holder is communicated to the heirs validly identified in a deed of inheritance presented to the Bank in the context of the liquidation of an estate.

Termination (Article 25)

The Client acknowledges that the use of indecent or insulting remarks addressed to a member of the Bank's staff or via a communication in the context of a banking transaction is considered a serious breach by the Client allowing the Bank to terminate the banking relationship free of charge and without notice.

The term "current account" has been replaced by "Payment account" to comply with regulations.

The Client is informed that in the event of a request for the Interbank Mobility Service, securities accounts and savings accounts linked to a Payment Account will also be closed.

The former Article 25.6, which provided for the possibility for the Bank to close accounts that have not registered a login on the Transactional Site or a Transaction at the initiative of the Client for a period of 5 years, has been deleted and adapted to qualify these accounts as "dormant accounts". It explains the rules that will be followed by the Bank in this situation.

Individual or joint accounts (Article 30)

This article is amended to reflect that only the tax residence of the holder, as declared in the Application to Open a Bank Account, or as modified by the Client during the life of the account, is taken into account by the Bank to determine the tax regime applicable to this account.

Accounts in the name of minors (Article 31)

This article is supplemented by Article 31.5, according to which the legal representatives of a minor client are held jointly and severally liable vis-à-vis the Bank for any action brought against the latter arising from the fact that the legal representatives have not managed the assets of the minor client in the interest of the latter and, if applicable, that they did not have the required prior judicial authorization.

Protected adults (Article 32)

This new article is added to the General Terms and Conditions and regulates the situation of a banking relationship opened in the name and on behalf of a "protected adult".

Cheques – Commercial Paper (former section 38)

Keytrade Bank has decided to cease offering this type of product. Keytrade Bank will no longer issue and or authorize the cashing of cheques.

Statements and Confirmation Slips (Article 39)

The possibility for the Client to receive account statements via regular mail has been abolished. These documents are available through the Personal Client Zone.

Execution "subject to proper procedures" or "following collection" (section 40)

Article 40.1 is adapted to follow up on the removal of cheques from Keytrade Bank's offer. Similarly, section 40.2 is deleted.

Scope (Article 43)

The new Article 43.4 specifies the entry into force of the articles related to Instant Transfers in euros.

In accordance with the SEPA Regulation, amended by Regulation (EU) No. 2024/886 of the European Parliament and of the Council of 13 March 2024 regarding instant transfers in euros, Keytrade Bank's payment accounts are accessible since 09/01/2025 to receive an instant transfer in euros if the payer's bank offers the service of sending an instant transfer to Keytrade Bank. From 09/10/2025, Keytrade Bank will offer the service of sending an Instant Transfer in euros, as well as the service ensuring the verification of the Beneficiary.

Definitions (Article 44)

New definitions are added to this article, namely:

• "Payment Initiation Channel";
• "Beneficiary’s Name";
• "Payment Service Provider";
• "SEPA Regulation";
• "Instant transfer".

Receipt of a Payment Order (Article 49)

This article is adapted and included in Articles 49.2 and 49.4 of the provisions relating to Payment Order for an Instant Transfer.

Service ensuring verification of the Beneficiary (Article 52)

This new article concerns the service offered by the Bank to the Client acting as Payer to ensure the verification of the Beneficiary to whom the Payer intends to send a transfer in euros.

Instant transfers (Article 54)

This new article describes the rules relating to Instant Transfers offered by the Bank.

Liability for Payment Transactions that were executed incorrectly or not at all (Article 58)

Article 58.1 has been strengthened to place the burden of proof on the Payment Initiation Service Provider concerning the receipt by the Bank of the Payment Order, its authentication, its registration and that it is not affected by a technical or other deficiency in relation to the Payment Service it is required to provide.

Investment and ancillary services offered by the Bank (Article 64)

The Investment Services offered at the Bank's sole discretion are modified by:

• the receipt and transmission of orders relating to one or more financial instruments;
• portfolio management;
• the placement of financial instruments without a firm commitment.

The Bank also reserves the right to offer Investment Services other than those mentioned above as well as ancillary Services.

Risks associated with Orders on Financial Instruments (Article 69)

The document " Overview of the features and inherent risks of financial instruments " is no longer sent to the Client as it is available in the Personal Client Zone.

Custody of Financial Instruments (Article 70)

This article has been adapted to reflect that the Bank no longer accepts bearer securities.

Administration of Financial Instruments in custody (Article 71)

Article 71.2 is amended to reflect that the corporate actions listed in this article are now carried out by its correspondents or sub-custodians.

Valid Order on Financial Instruments (Article 75); Procedures for executing Orders on Financial Instruments (Article 79); Request for cancellation (Article 80); Telephone Orders (section 82)

Articles 75, 79, 80 and 82 are amended to reflect that the Bank no longer executes Orders on Financial Instruments but transmits them for execution if validly received.

Compliance with applicable rules (section 81)

Article 81 states that the Bank shall provide Clients with an overview of the rules applicable in the relevant markets for information purposes only. In case of doubt, it is the Client's responsibility to inquire about these rules with the Bank in accordance with Article 15 of the General Terms and Conditions.

Telephone Orders (section 82)

Article 82.8 is added to inform Clients that their telephone conversations are recorded in accordance with Article 17 of the General Terms and Conditions.

Confirmation of execution (confirmation slips) (Article 83)

The Client can no longer obtain a confirmation slip or information on the status of execution of their Order by regular mail. This information is now available via the Personal Client Zone.