Common use of Variable Products Clause in Contracts

Variable Products. 5.2.1 All Lodgements to the Variable Product must be in sterling. 5.2.2. Lodgements can be made by cheque or electronically from your Nominated Bank Account. Cheques must be made payable to Allied Irish Bank (GB) and the name in which your Variable Product is held e.g. in ‘Allied Irish Bank (GB) – ▇▇▇▇ ▇▇▇▇▇’. 5.2.3. Electronic Deposits and Lodgements received by us from your Nominated Bank Account before 4pm will be credited to your Account, value dated and made available for you to use immediately. Electronic Deposits and Lodgements received by us from your Nominated Bank Account after 4pm, will be credited to your Account, value dated and made available for you to use, on the next Business Day. 5.2.4. Cheques processed through the“Paper clearing system”will earn interest two further Business Days after the date of receipt e.g. on Wednesday if paid in on a Monday and electronic Lodgements will earn interest from the value date detailed in Clause 5.2.3. Cheques processed through the“Image clearing system”will start earning interest the next banking day. 5.2.5. No Deposits or Lodgements are permitted from any third party accounts. 5.2.6. You must keep a record of all cheques deposited. If you do not, we may not be able to help you if any cheques become lost. 5.2.7. We reserve the right to refuse any Deposits or Lodgements into an Account at any time at our sole discretion. In such cases subject to receipt we will return the cheque to you or if paid by electronic means we will transfer the funds back to the originating account. 5.2.8. Where Lodgements are being made by cheque they should be sent to our Freepost address as set out in Clause 22.2. 5.2.9. You may amend your Nominated Bank Account by advising us in writing of the requested change by complying with Clause 9.3.