Terms & Conditions

1. Introduction

These Terms and Conditions ("Terms") form a legally binding agreement between you ("Customer", "you") and NexusBank Ltd ("NexusBank", "we", "us", "our"), a company registered in England and Wales (Company No. 00000000) with its registered office at 1 Nexus Square, London, EC2A 1BB.

NexusBank Ltd is authorised by the Prudential Regulation Authority ("PRA") and regulated by the Financial Conduct Authority ("FCA") and the PRA under Financial Services Register number 000000. By opening an account or using any of our services, you confirm that you have read, understood, and agree to be bound by these Terms.

These Terms apply to all personal current accounts, savings accounts, and digital banking services offered by NexusBank. Separate terms may apply to credit cards, loans, mortgages, and investment products, and those terms will be provided to you before you enter into any such agreement.

2. Account Types

NexusBank offers the following personal account types:

• Current Account — a fee-free current account with a Visa debit card, contactless payments, and full access to online and mobile banking.
• Nexus Edge Account — a premium current account offering cashback on selected household bills, worldwide travel insurance, and preferential savings rates. A monthly fee of £5 applies.
• Nexus Edge Up Account — our top-tier account providing enhanced cashback, comprehensive family travel insurance, airport lounge access, and a dedicated relationship manager. A monthly fee of £15 applies.
• Easy Access Savings — a variable-rate savings account allowing unlimited withdrawals with no notice period.
• Cash ISA — a tax-efficient savings account allowing you to save up to the annual ISA allowance free of UK income tax on interest earned.
• Fixed Rate Bond — a savings product offering a guaranteed interest rate for a fixed term of 1, 2, 3, or 5 years. Early withdrawal is not permitted except in cases of financial hardship.

Full details of each account, including interest rates and any applicable fees, are set out in the relevant product summary sheets, which form part of these Terms.

3. Eligibility

To open a NexusBank account you must:

1. be at least 18 years of age (or 16 for a Basic Current Account);
2. be resident in the United Kingdom;
3. provide valid government-issued photographic identification (passport or driving licence) and proof of address dated within the last three months;
4. pass our identity verification, anti-money laundering, and know-your-customer checks as required by the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017;
5. not have been declared bankrupt or subject to an Individual Voluntary Arrangement (IVA) where the order has not been discharged.

We reserve the right to decline any application at our sole discretion and without providing a reason, subject to applicable law.

4. Fees & Charges

A full schedule of our current fees and charges is available in our Tariff of Charges document, which can be accessed on our website, in the mobile app, or by requesting a copy from any NexusBank branch or by contacting us on WhatsApp at +44 7365 192524. Key fees include:

• Arranged overdraft: 15.9% EAR (variable). No daily or monthly overdraft fees apply.
• Unarranged overdraft: We will not charge you for going into an unarranged overdraft, but we may return unpaid items and this could affect your credit score.
• Foreign transactions: A non-sterling transaction fee of 2.75% applies to debit card transactions made outside the UK. Nexus Edge and Nexus Edge Up accounts are exempt from this fee.
• Cash withdrawals abroad: £1.50 per withdrawal (free for Nexus Edge Up account holders).
• Replacement debit card: Free for lost/stolen (first replacement per year); £5 for additional replacements.
• CHAPS payment: £25 per payment.

We will give you at least 60 days' personal notice before making any change to our fees, charges, or interest rates that is to your disadvantage.

5. Online & Mobile Banking

NexusBank provides online banking via our website and the NexusBank mobile application ("the App"). By using our digital services you agree to:

• keep your login credentials, including your Customer ID, password, and any one-time passcodes, confidential and not share them with any third party;
• use Strong Customer Authentication (SCA) as required by the Payment Services Regulations 2017 when accessing your account or making electronic payments;
• ensure that any device used to access online or mobile banking is kept secure with up-to-date operating system software and antivirus protection;
• notify us immediately if you believe your login credentials have been compromised or if you identify any unauthorised transaction on your account.

We may suspend your access to online or mobile banking without notice where we reasonably believe there has been, or is likely to be, unauthorised or fraudulent use of your account.

6. Security Obligations

You must take all reasonable steps to keep your account secure. This includes:

1. Never disclosing your full password, PIN, or one-time passcode to anyone, including NexusBank staff. We will never ask you for your full password.
2. Contacting us on WhatsApp at +44 7365 192524 immediately if your card is lost, stolen, or you suspect unauthorised use. You can also freeze your card instantly through the App.
3. Reviewing your statements and transaction history regularly and reporting any unrecognised transactions within 13 months of the transaction date.
4. Not responding to unsolicited communications (phishing emails, texts, or calls) that ask you to provide account or security information.

Subject to the Payment Services Regulations 2017, you will not be liable for losses resulting from unauthorised transactions unless you have acted fraudulently or with gross negligence in safeguarding your security credentials.

7. Intellectual Property

All content, trademarks, logos, software, and materials available through the NexusBank website and App are owned by or licensed to NexusBank Ltd and are protected by copyright, trademark, and other intellectual property laws of the United Kingdom and international jurisdictions.

You may not reproduce, distribute, modify, create derivative works from, or publicly display any content from our services without our prior written consent, except as strictly necessary for your personal use of the banking services. The NexusBank name, logo, and all related product and service names are trademarks of NexusBank Ltd.

8. Limitation of Liability

To the fullest extent permitted by applicable law, NexusBank shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including loss of profits, data, or business opportunity, arising out of or in connection with your use of our services.

Nothing in these Terms excludes or limits our liability for death or personal injury caused by our negligence, fraud or fraudulent misrepresentation, or any other liability that cannot be excluded or limited under applicable law, including liability under the Financial Services and Markets Act 2000.

We shall not be liable for any failure or delay in performing our obligations where such failure or delay results from circumstances beyond our reasonable control, including but not limited to acts of God, industrial action, failure of third-party systems, or government action.

9. Complaints

If you are unhappy with any aspect of our service, we want to hear from you. You can make a complaint by:

• contacting us on WhatsApp at +44 7365 192524;
• emailing complaints@nexusbankuk.com;
• writing to: Customer Relations, NexusBank Ltd, 1 Nexus Square, London, EC2A 1BB;
• speaking to any member of staff at a NexusBank branch.

We aim to resolve complaints within three business days. If we are unable to do so, we will send you a written acknowledgement and aim to provide a final response within eight weeks. If you remain dissatisfied, you may refer your complaint to the Financial Ombudsman Service. For further details, see our Complaints Procedure.

10. Governing Law

These Terms, and any dispute or claim arising out of or in connection with them (including non-contractual disputes or claims), shall be governed by and construed in accordance with the laws of England and Wales. The courts of England and Wales shall have exclusive jurisdiction, save that nothing in these Terms prevents you from bringing proceedings in the courts of Scotland or Northern Ireland if you live in those jurisdictions.

If any provision of these Terms is found by a court of competent jurisdiction to be invalid, illegal, or unenforceable, the remaining provisions shall continue in full force and effect. Our failure to enforce any right or provision of these Terms shall not constitute a waiver of such right or provision.

We may amend these Terms at any time. Where changes are to your disadvantage we will provide you with at least 60 days' written notice. Continued use of our services after the changes take effect constitutes acceptance of the revised Terms.