HBZ eDeposit account is available to individuals aged 18 and over, residing in the UK (for tax purposes) with a permanent verifiable UK address. The individuals must also have personal UK Bank or Building Society accounts.

Yes, there is a minimum & maximum deposit limit to open an HBZ eDeposit account

* These terms can be changed at any time by us

We verify your identity and address by checking a number of electronic databases. This process involves matching your personal details against a range of publicly available records and credit records. We require your passport or driving license details, in order to process your online eDeposit application. If we are not able to verify the details provided to us (for example, if you have recently moved house or have little or no credit history or for any other unknown reason) we will ask you to provide documentary proof of identity.

What if my details cannot be verified and required documents cannot be provided

In this situation, we will not be able to open an eDeposit account for you.

Yes, you can open a sole or a joint account for up to two individuals. For more information on Joint Accounts, please refer to our Terms & Conditions.

Yes, you can apply for another eDeposit by transferring the funds to your existing account and quoting the term and reference number that you have earlier, in your fresh payment order. For more guidance, please contact our customer support.

The initial funds must be received within 14 days of your account being opened. Your account will be closed if the Bank does not receive your payment within 30 days of opening your account.

You may contact your UK Bank or Building Society to transfer funds to your HBZ eDeposit account, details of which will be sent to you via email/text message.

You can make a bank transfer via BACS/ FPS/ CHAPS or a Cheque. Please note that a cheque of a bank outside of the UK may take longer to clear and/or incur charges.

Key points to remember:

• Please ensure that you quote your unique account reference number at the time of making the payment/deposit.
• Please note that you can only make one payment into your account from your nominated bank account, as provided at the time of your application.
• The payment into your HBZ eDeposit account must be done from a UK Bank or Building Society account held in your name (Applicant’s name) and the amount must match with what was specified at time of application.
• You can also send us a cheque. Please note that the cheque must be payable to yourself and must carry your unique HBZ reference number. The cheque must be drawn on a UK bank and can be sent to the following address;

Habib Bank Zurich plc
42, Moorgate,
London
EC2R 6JJ
United Kingdom

Please note that we cannot accept any post-dated cheques. If your deposit is by cheque and the cheque fails to clear, no interest will be earned and your account will be closed.

A confirmation will be emailed and couriered as soon as the funds are placed in your account as per your request. This deposit confirmation will contain your HBZ eDeposit account details i.e. account name, account number, amount, tenor, interest and maturity date.

We will not send you any statement on paper. We will only send you the deposit confirmation certificate once funds are received in your HBZ eDeposit account.

No. You cannot close your account once you have made the payment into your deposit account.

However, you have 14 days after opening your account to tell us if you want to close/cancel it, as long as no funds have been received in your eDeposit account.

Account withdrawals or early closures are not allowed. However, if you need access to your funds due to exceptional circumstances, you may withdraw the balance in your account (without interest) and your account will be closed. You will not be charged for this. Please refer to our Terms & Conditions for more details on exceptional circumstances for closing an account.

The interest rate payable is fixed for the term of the account. Please note if you do not transfer funds within 14 days of opening account, you will not be entitled for the rate advertised on the date you applied on.

The interest will only be paid on the maturity of your deposit. Your deposit confirmation will confirm the details.

No interest is payable on accounts that are closed before maturity. However, the Bank will not charge you any penalty for early closure/withdrawals.

Interest will be payable on your deposit from the business day that the cleared funds are received by the Bank.

It is your responsibility to pay taxes on the interest earned on your deposit. Please refer to our Terms & Conditions for more information.

Please note that you may be subject to external or additional taxes or costs that we do not charge or deduct. For example, you may be liable to pay extra/higher rate of income tax on the interest you earn, depending on your individual circumstances.

Please contact the HMRC directly or visit www.hmrc.gov.uk if you need more information on applicable taxes or tax exemptions.

Interest will be paid into your HBZ eDeposit account upon maturity.

The details of your account and interest earned are supplied in your deposit confirmation. The interest rate is fixed for the term of your account.

It is imperative that you inform Habib Bank AG Zurich UK of any change in the residential or email addresses registered in our records. To update our records, the Bank will require the original or certified copy of the following:

1. Your passport or driving license (if not already used as proof of address)
2. For proof of address:
   • A Bank statement less than 3 months old (Original – Not one obtained from the internet)
   • Utility bill less than 3 months old
   • Council tax bill/letter (For the current year)

We will send you a reminder at least 14 days before your account matures, with options of what you can do with your money.

If we do not receive any instruction before the maturity date, we will hold your deposit plus any interest earned on the same, in our sundry account.

Please note that no additional interest will be paid, unless by mutual agreement.

Transfer of deposit

Your funds will be repaid to you at the time of maturity. Please note that the Bank will transfer the funds into the bank account that you nominated at the time of opening your HBZ eDeposit account. If you wish to transfer these funds into a different account, you will need to inform us (details are provided in the contact section).

You can contact us at our registered office in the UK.

Habib Bank Zurich plc
42 Moorgate
London EC2R 6JJ
Telephone: +44 (0) 20 7452 0200 or 080 81642242
E-mail: edeposit.uk@habibbank.com
Website: www.habibbank.com