I/We hereby confirm and agree to the following terms and conditions in relation to all banking and other financial transactions between me/us and Fidelity Bank Plc (“the Bank”).

I/We further agree that where the services to be provided by the Bank are not regulated by the terms and conditions of this Account Opening Agreement or any other Agreement including the Electronic Banking User Agreement, they shall be regulated by customary banking practices in Nigeria.

• I/We hereby apply to open an account for banking and related financial services of the Bank.
• I/We declare that the information given in this account opening form is true and accurate.
• I/We agree that any information found to be false, incorrect or misleading may cause the Bank to reject this application or close my/our account if it had been opened.
• I/We agree to promptly notify the Bank of any subsequent change in Customer’s account details.
• The Bank will not establish or operate the requested account(s) unless and until it has received the required supporting documents for the account, a list of which has been provided to Customer and is included with this application form.
• The Bank is hereby authorized to undertake all “Know Your Customer” (KYC) procedures specified by applicable law and/or regulations and/or Bank policies including the confirmation of Customer’s details and legal status at the appropriate government registry or parastatal. I/We hereby authorize the Bank to debit Customer’s account without further notice to Customer for the attendant costs of such KYC procedures.
• The Bank may, without prior notice, impose or change the minimum balance requirements for Customer’s account(s) or alter the applicable interest rate(s) for or the charges relating to such account(s) or any of them.
• The Bank is authorized to transfer money from any deposit or other account Customer maintains to any other account(s) Customer maintains with the Bank whose balance is below the required minimum.
• The Customer agrees that in addition to any general lien, right of set-off or similar right prescribed by law, the Bank shall be entitled, without notice, to combine and consolidate all or any of Customer’s account(s) including but not limited to cash, cheques, valuables, deposits, securities, negotiable instruments or other assets belonging to customer with the Bank (without any liabilities to the Bank) and/or to set off or transfer any or all amounts owed by Customer or related party to the Bank against any and all money which the Bank may hold for Customer’s account or any other credit be it cash, cheques, valuables deposits, securities negotiable instruments or other assets belonging to Customer whether held on current, deposit, or other account whether in Naira or any other currency (hereinafter referred to as “foreign currency”).
• When effecting any set-off the Bank shall be entitled at its absolute discretion, with or without notice to Customer to convert any Naira or foreign currency into the currency in which the amount owed was incurred at the applicable official exchange rate for the currencies in question prevailing in Nigeria at the time of such conversion.
• The Bank be and is hereby instructed to act on any instructions given on behalf of Customer for or in relation to Customer requiring foreign exchange including but not limited to: the purchase or sale of any foreign exchange; the opening from time of documentary letters of credit to the intent that this shall not be a general authority but shall require specific instructions; the signing and settlement of exchange contracts; and the signing and obtaining delivery of merchandise against trust receipts.
• Customer undertakes to provide all exchange control documents that would be required for any business requiring foreign exchange and further undertakes to indemnify the Bank for any loss, liability, damage or expenses resulting from the Customer’s default.
• The Customer agrees to hold the Bank harmless and free from any responsibility for any loss of funds deposited with the Bank due to any future governmental order, law, levy, tax, embargo, exchange restriction or other cause beyond the Bank’s control.
• The Bank shall be entitled to retain and not repay any amount whatsoever that is owed to Customer or which the Bank holds on Customer’s behalf and until all amounts owed by Customer or the related party to the Bank have been repaid or discharged in full and, for so long as such amounts have not been discharged or repaid in full, the Bank shall be entitled to appropriate any amounts so owed to Customer or held on Customer’s behalf in or towards the payment and discharge of the amounts owed by Customer or the related party to the Bank.
• Where the Bank, in the absence of any previous agreement as to rate of interest and costs and charges that will apply if Customer’s account(s) or becomes overdrawn, in its absolute discretion allows Customer to make any drawing that results in Customer’s account(s) becoming overdrawn, the Bank shall be entitled to charge such rate of interest and impose such charges as, in its absolute discretion, it considers appropriate in the circumstances and Customer agrees to pay such interest and charges to the Bank on demand.
• Where Customer gives any instruction for a payment(s) that in aggregate exceed(s) the amounts standing to the credit of Customer’s account(s) against which payment is to be made, the Bank reserves the right to decline to carry out such instruction or where there is more than one transaction, to select the transaction that shall be executed without reference to the date of dispatch or time or receipt of Customer’s instructions, if the Bank in its discretion makes any such payment for which Customer’s account(s) is not funded, Customer shall repay the Bank whether or not the Bank makes a demand in addition to charges and interest accrued thereon.
• Where any uncleared effects credited to Customer’s account(s) by the Bank is subsequently dishonoured and/or the Bank for any reason is required to repay to the paying banker or any other party all or any part of any amount credited to Customer’s account(s), the Bank will be entitled to debit Customer’s account(s) with the amount of such uncleared effects and/or repaid amounts plus accrued interest and applicable bank charges.
• Commission and charges shall be levied in accordance with the Bank’s standard scale of charges in force from time to time and copies which are made available on request. The Bank reserves the right to amend its rates of interest in accordance with its standard scale of charges and/or conditions from time to time.

9. 10. 11. 19. Any communication by the Bank to Customer shall be deemed to have been made as soon as it is sent to the most recent address on the bank’s mailing list in the case of a letter/mail or most recent telephone number in the case of a short message service (SMS) or most recent electronic mail address in the case of an electronic mail provided by Customer and the date indicated on the medium of communication (letter/mail, SMS or electronic mail) will constitute the date on which the communication was sent. 20. Customer understands and acknowledges that electronic mail, facsimile and verbal communications are insecure transmission media. Where Customer advises the Bank to accept instructions in such manner, Customer undertakes to indemnify the Bank in full for any loss it may suffer or incur by reason of its honoring Customer’s letter, electronic mail, facsimile or verbal instructions, irrespective of whether same are erroneous, fraudulent or issued otherwise than in accordance with the mandate for Customer’s account(s). 21. Where any and all payment instructions are issued in accordance with the Customer’s account(s) mandate and which bears or purports to bear the facsimile or electronic mail signature of the person(s) whose specimen signatures have been provided to the Bank by the Customer, the Bank is hereby authorized to honour and to debit the Customer’s account(s), for any and all payment instructions/confirmations issued or provided by Customer using a pre-agreed format for same which may include but is not limited to oral or written instructions/confirmations and where given orally such oral instruction may if previously agreed involve the use of specific password(s) and when given in writing may be given by letter, facsimile or electronic mail. 22. The Bank is authorized to debit Customer’s account(s) with the cost incurred in respect of the issuance of the cheque book(s) for Customer’s account and in respect of the use of the Bank’s SMS alert service and other services provided by the Bank to the Customer. 23. All funds standing to Customer’s credit are payable on demand only in such local currency as may be in circulation. 24. Until the Bank receives any written notice by way of the Customer to the contrary, the Bank is instructed to honour signature(s) appearing on the signature card or account(s) for all purposes on the Customer’s account. 25. Neither the Bank nor its staff shall be liable for any loss arising as a result of the authority given to the bank on cheque confirmations. 26. The Customer hereby undertakes and agrees to indemnify the Bank upon demand in writing by the Bank or through the Bank’s representatives/agents for any loss the Bank may incur in the event that the Customer’s cheque is returned unpaid by the paying Bank and also will pay interest at prevalent rate in the event that the Customer has drawn on account before the cheque is returned unpaid, and to provide the Bank with a replacement cheque not later than three (3) working days after the date of service of notice of cheque’s return. This indemnity is to be a continuing security for each clearing cheque deposited by the Customer. 27. Customer agrees to assume full responsibility for the genuineness or correctness and validity of all endorsements appearing on all cheques, orders, bills, notes, negotiable instruments, receipts and/or other documents deposited in Customer’s account(s). 28. Customer agrees that the Bank is under no obligation to honour any cheque(s) drawn on the Customer’s account(s) unless there are sufficient funds in the account to cover the value of the said cheque(s) and the Customer understands and agrees that any such cheque(s) may be returned to the Customer unpaid, but if paid, the Customer is obliged to repay the Bank on demand. 29. If a cheque credited to Customer’s account(s) is returned dishonoured, the same may be transmitted to Customer’s last known address either by bearer or by post. 30. Customer notes that the Bank will accept no liability whatsoever for funds handed to members of the Bank’s staff outside banking hours or outside the Bank's premises. 31. Customer agrees that any disagreements with entries on the Customer’s bank statements will be made by the Customer within fifteen (15) working days of the dispatch of the bank statements. Failing receipt by the Bank of a notice of disagreement of the entries within fifteen (15) days from the date of dispatch of the Customer’s bank statements as rendered is correct. 32. Customer agrees to be bound by these and other terms and conditions regulating the operations of the Bank account(s) and other financial services including but not limited to Internet Banking, Mobile Banking, Card Services, Telephone Banking, Automated Teller Machine (ATMs), and Money Transfer Services. 33. Where any of the Conditions or the provisions specified herein are invalid, illegal or unenforceable in any respect under the law, the validity, legality and enforceability of the remaining conditions and/or provisions contained herein shall not in any manner be affected or impaired thereby. 34. No failure or delay in exercising any right, power or privilege vested in the Bank by these conditions shall operate as a waiver thereof neither shall any partial exercise of such right, power or privilege preclude any other or further exercise thereof. 35. I/We agree that you may at your absolute discretion close at any time my account(s) with you. 36. The Customer acknowledges that the Bank consults with various credit bureaus and reference agencies, and may be required to disclose the Customer's information to these credit bureaus for the purpose of conducting checks on the Customer. The Customer hereby irrevocably and unconditionally grants his/her/its consent to the Bank and expressly authorizes such disclosure of any or all information on his/her/its account(s)/ transaction(s) with the Bank, to such credit bureau and reference agencies whether based locally or abroad, including information on the Customer's Directors and other personnel, transactions and conduct on the Customer's account together with details of any non-payment or delayed payments as the Bank may deem necessary. The consent herein given discharges the Bank from all liabilities, claims, and damages for such disclosure made by the Bank to any credit bureau pursuant to the consent herein granted. 37. Where these conditions are signed by or on behalf of more than one person whether individually, jointly or as legal person or juristic person as the Customer, all of such persons are bound by these term and conditions. 38. Agree that the account relationship hereby established shall be governed and construed in accordance with Nigerian law and by reference to the accepted principles and practices of banking.