Central Cooperative Bank Changes in the General terms and conditions, effective from 1 January 2021
Central Cooperative Bank Plc informs its clients that with a decision of the Management Board of 3 December 2020 changes were adopted in the General terms and conditions of Central Cooperative Bank Plc to the frame agreement for opening and maintaining bank payment accounts and the performance of payment operations, which are in force for all new clients of Central Cooperative Bank Plc, as from 1 January 2021, respectively, for agreements, concluded before this date– as from 1 March 2021.
Each client, whose legal relationship has occurred before 1 January 2021, is entitled not later than 1 March 2021 to express in writing his/her disagreement with the cited General terms and conditions and to terminate unilaterally his/her legal relationships with Central Cooperative Bank Plc regarding the provision of payment services, upon the respective performance of his/her obligations to the Bank. Regarding the clients who have not exercised their right under the previous sentence, it is assumed that the they have approved the specified General terms and conditions, as a result of which, as from 1 March 2021 General terms and conditions of Central Cooperative Bank Plc to the frame agreement for opening and maintaining bank payment accounts and the performance of payment operations are in force and apply to the legal relationships of the Bank with its clients.