We are committed to providing you with a first class foreign exchange service – giving you access to foreign exchange dealers, market information and rate-watch facilities.
We believe that you are getting a highly competitive total price and service for your foreign exchange needs. This is why we are offering you our Premier Price Promise. If you find a better price from another provider, show us the details and we will refund the difference. This offer ends on 25 May 2019: the Price Promise End Date.
TERMS AND CONDITIONS
The following conditions apply:
1. The Price Promise will apply to all electronic transactions valued between €20,000 and €100,000 equivalent. We use our exchange rates to calculate the value of any part of a transaction that is not in Euro (you agree to accept that).
2. The Price Promise applies where the Bank exchanges one currency for another on your behalf as part of a transaction as long as each currency concerned is one of those listed in Table 1.
3. You must carry out the transaction referred to in point 2 with us and not the other provider. (If you decide to use the other provider to carry out the transaction for you, the Price Promise does not apply).
4. You must carry out the transaction referred to in point 2 as a consumer and not for a purpose connected to a trade, business, profession or charity (but if the transaction involves a charitable donation made by you as a consumer it may qualify for the Price Promise).
5. Foreign exchange markets move quickly. Therefore to get our Price Promise you must get a better quote from another provider within 15 minutes before or after our quote. The quote from the other provider must have all the details required in paragraph 11 below.
6. If you have (or think you have) a better quote from another provider that qualifies for our Price Promise you must make sure you give it to us within 30 days of the date of the quote from the other provider. (This 30 day period includes the date of the quote from the other provider). You must also make sure we get the quote (via email to Premier Banking) before the Price Promise End Date.
7. Price comparisons will be based on our total price and the total price of the other provider. The total price offered by the other provider must be offered to consumer members of the public generally and cannot be concessionary or introductory rates, or prices that are only available to business or charitable customers, staff or other selected groups or individuals.
By “total price” we refer to (a) the exchange rate quoted or used by us or the other provider; plus (b) the foreign exchange margin quoted or charged by us or the other provider.
8. The following things do not form part of the total price:
(a) any payment transaction fee or other fee or charge for the movement of funds or other payment services;
(b) any market or mid-market rates that are not actually used or quoted by us or the other provider in a quote given to you for a transaction.
9. By “other provider” we refer to any reputable bank or payment service provider outside the Bank of Ireland Group that is duly authorised under applicable law to provide foreign exchange services to you.
10. We reserve the right to change the conditions of, or withdraw, this Price Promise at any time ( including before the Price Promise End Date) where we have a valid reason to do so and this may mean we have to do so without telling you first. These are examples of valid reasons for withdrawal: (a) any unexpected market event causing significant market volatility; (b) our business and planning including the need to ensure our foreign exchange business is profitable and sustainable; (c) our marketing planning, including a decision by us to end the Price Promise as a marketing devise; and (d) where we think ending the Price Promise is necessary or desirable for reasons to do with law, regulation or our standing or reputation.
11. If you wish to take up Price Promise you must first give us a quote from the other provider (via email to Premier Banking) to enable us to verify the quote. You must make sure we get the quote from the other provider in good time (see paragraph 6 and the Price Promise End date for details). The quote from the other provider must set out (or be accompanied by other documentation) that sets out the following information at least:
a) that it is addressed to you;
b) that the other provider is one that meets the description in paragraph 9;
c) the total price you have been quoted by the other provider;
d) the exchange rate and (if there is one) margin quoted by the other provider;
e) the date and time (to the nearest minute at least) of the quote;
f) enough details to show that the quote you have got is for a transaction that is the same as the transaction which we carried out (or quoted) for you and for which you claim the price promise.
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