Legal Notice

Bank Melli Iran, Hamburg, Holzbrücke 2, 20459 Hamburg is the controller in terms of GDPR (General Data Protection Regulation) for the processing of your personal data. The Bank is aware of the significance of the personal data entrusted to it.
In order to create and maintain a sound basis for a trustful business relationship with our customers and business partners, we implement the standards of the EU General Data Protection Regulations (GDPR) and other legal requirements.
In the context of meeting the needs of our clients, personal data is collected, processed and used solely for this purpose.

Personal data includes information referring to identified or identifiable natural persons (hereinafter referred to as "data").
We process data pertaining to your person in the lawfully admissible extent, particularly in consideration of the principle of data minimisation. This particularly concerns the following information:

 

Personal data you provide to us:
Your name, your contact data including your address, email address and telephone numbers, your nationality, your account information. In addition, we process audio-visual data, such as information from the video legitimation process or recordings of your phone calls at monetary and foreign exchange trades.

 

Personal data we collect at third parties:
In the course of the initiation of an agreement and application verification, we shall also revert to data provided to us by third parties. For example, these may include the records from certain credit agencies, authorised dealers of Bank Melli Iran, Hamburg as well as other third parties.
In this context, we process particularly the following categories of personal data:
Information regarding your creditworthiness, at credit agencies for example impairments of performance in other agreements;
Information entered by other banks about you at credit agencies, for example regarding other banking relationships;
We receive certain information from credit agencies with respect to known peculiarities to prevent criminal acts in terms of the Credit System Act. These shall be considered in the course of the credit decision process;
Information regarding your address in the context of address matching with the Deutsche Post to update postal addresses (for example, this concerns addresses you have provided to Deutsche Post in the context of a redirection order and to the transfer of which you have agreed).
Information from publically accessible sources, if these are necessary for the provision of our services. This takes into account, e.g., Land Registers, debtor records or commercial and association registers.

In the process, we restrict the data collection, processing and usage to a minimum and principally avoid the collection and processing of special categories of personal data.

Special categories of personal data include data which reveal your race and ethnic origin, political views, religious or philosophical convictions or your union association, etc. If, notwithstanding, we collect or otherwise process special categories of personal data in individual cases for the fulfilment of the purposes specified below, for example your religious confession for tax reasons, we shall always process them in accordance with the statutory requirements and the specifications of this data protection information.

 

Lawfulness of data processing
We shall only process your data if permitted by an applicable statutory provision. We shall particularly process your data based on Articles 6 and 9 GDPR as well as based on consents according to Article 7 GDPR. In the process, we shall also base the processing of your data on the following legal bases (not a complete or conclusive list of legal bases, but merely examples to render the legal bases more transparent)
Consent (Article 6 (1) S. 1 lit. a), Article 7 GDPR, and/or Article 9 (2) lit. a), Article 7 GDPR): We shall process certain data only based on your previously granted explicit and voluntary consent. You are entitled to revoke your consent effective for the future at any time.
Fulfilment of an agreement / pre-contractual measures (Article 6 (1) S. 1 lit. b) GDPR): we require access to certain data to prepare / execute your agreement with the Bank Melli Iran, Hamburg.
To comply with legal obligations (Article 6 (1) S. 1 lit. c) GDPR): Bank Melli Iran, Hamburg is subject to a number of statutory obligations. We have to process certain data to comply with these obligations.
Preserving legitimate interests (Article 6 (1) S. 1 lit. f) GDPR): The bank shall process certain data to preserve your interests or those of third parties. However, this only applies if your interests do not prevail in individual cases.

 

How the personal data is protected:
In order to protect the confidentiality of the data, we avail ourselves of applications with a high security standard. Bank secrecy as well as the confidentiality of the data remains preserved in the process.
We shall process your personal data in accordance with the requirements for the security of processing based on Article 32 GDPR. Therefore, we trust in the comprehensive technical and organisational security measures which comply with the internationally recognised IT standards and which are constantly monitored. Thus, we ensure that your data is appropriately protected against unlawful use or any other form of unauthorised data processing at any time.

Data transmission to third parties
The data is not transmitted to external third parties unless the collection occurs e.g. to fulfil a customer order and/or for the execution of payments, if the recipient of the payment conducts his account in a third country (outside of the EU).
When transmitting your data, we shall always take suitable steps to ensure that your data is processed, protected and transmitted in accordance with the applicable statutory specifications.
The data exchange with our Head Office (Bank Melli Iran - Teheran) in Iran occurs upon request, if it is used for own purposes.
With respect to enquiries from Iranian courts via our head office, only those data are transmitted which are available in public registers/credit agencies or in the context of bank information for corporate clients. Data such as statements of account, credit agreements etc. are only transmitted in terms of bank secrecy § 9 KWG (Credit System Act) if they are required to assert legal claims of our head office or its dependent branch offices.

 

SWIFT
In case of transfers abroad and separately ordered urgent transfers, the data contained in the transfer are transmitted to the credit institute of the beneficiary via the only globally trading payment intelligence Society for Worldwide Interbank Financial Telecommunication (SWIFT) with registered office in Belgium. Payments within Europe are processed in the Operating Centres in the Netherlands and Switzerland.

 

Retention periods
The legislator has issued a variety of retention obligations and deadlines. Upon expiration of these deadlines, the respective data is routinely erased if they are no longer required e.g. for the fulfilment of the agreement (e.g. current or credit agreement).
In line with Article 17 GDPR, the collected personal data is only stored until the purpose for which they were entrusted to us has been fulfilled. If your personal data is no longer correct, we shall rectify it accordingly upon respective instructions from you. Upon your request, your data shall be erased or deactivated immediately, unless this request is opposed by statutory or contractual retention periods.
If desired, you receive information regarding all your personal data stored by us.

 

Data transmission to SCHUFA
In the context of this contractual relationship, Bank Melli Iran transmits data regarding non-contractual or fraudulent conduct to SCHUFA Holding AG, Kormoranweg 5, 65201 Wiesbaden. The data exchange with SCHUFA also serves the fulfilment of statutory obligations for the execution of credit-worthiness checks of customers (§ 505a of the German Civil Code (BGB), § 18a of the KWG (Credit System Act)).
SCHUFA processes the received data and uses it also for the purpose of scoring to provide its contractual partners in the European economic area and in Switzerland as well as other third countries, if applicable (if a decision regarding appropriateness has been passed by the European Commission in terms of these countries) with information, among other to assess the creditworthiness of natural persons. Further information regarding the tasks of SCHUFA is available in the SCHUFA-information leaflet according to Article 14 GDPR or online at: www.schufa.de/datenschutz.

 

Rights of data subjects
According to GDPR, as a data subject, you are entitled to the following rights with respect to Bank Melli Iran, Hamburg:
Right to access of information (Article 15 GDPR): You can demand from us information on all your personal data stored by us at any time. Among other, this information concerns the data categories processed by us, the purposes for which they are processed, the origin of the data if it was not collected directly from you and, if applicable, the recipients to whom we have transmitted the data. You may receive a free-of-charge copy of your data which is subject to the agreement. If you are interested in further copies, we reserve the right to invoice you for the further copies.
Right to rectification (Article 16 GDPR): You can demand that we rectify your data. We shall take appropriate measures to keep your data, which we retain and regularly process, correct, complete, up to date and relevant, based on the most current information provided to us.
Right to erasure (Article 17 GDPR): You can demand that we erase your data if the statutory prerequisites exist. According to Article 17 GDPR, this can be the case if the data is no longer required for the purposes for which they were collected or otherwise processed; if you have revoked your consent, which is the basis of data processing and if there is no other legal basis for processing; if you object to the processing of your data and if there are no prevailing justified reasons for the processing or if you object to the data processing for the purpose of direct advertising; if the data was processed unlawfully; if the processing is not necessary to ensure compliance with a statutory obligation which requires us to process your data, particularly in view of statutory retention periods; to assert, exercise or defend your legal claims.
Right to restriction of processing (Article 18 GDPR): You can demand from us the restriction of the processing of your data if you contest the correctness of the data, namely for the period we require to verify the correctness of the data; if the processing is unlawful and if you reject the erasure of your data and instead demand restricted usage; if we no longer require your data, but you need them to assert, exercise or defend legal claims; if you have raised objection to the processing as long as it has not been determined whether our justified reasons prevail.
Right to data portability (Article 20 GDPR): Upon your application, we shall provide your data in portable shape so that you can transmit it to another controller (i.e. another bank). However, you are only entitled to this right if the data processing is based on your consent or is required to execute an agreement.

Right to object (Article 21 GDPR):

You have the right to object to the processing of your data at any time for reasons arising from your special situation if the processing of data is based on your consent or our justified interests or those of a third party. In this case, we shall no longer process your data. The latter does not apply if we can demonstrate compelling legitimate reasons for the processing which outweigh your interests or if we require your data to assert, exercise or defend legal claims.

 

Deadlines to comply with the rights of the data subject
We principally endeavour to comply with your enquiries within 30 days. However, this deadline may be extended for reasons pertaining to the specific rights of the data subject or the complexity of your request.
If we are not able to provide you with information regarding all of your data in certain situations due to statutory requirements and if we reject your request for information, you shall be informed of the reasons of the rejection at the same time.

 

Changes
We shall inform you in due time in the event of significant changes to the type and manner of the processing of your data.
Please do not hesitate to contact us if you are not satisfied with the data protection measures specified here or if you have further questions regarding the collection, processing and/or usage of your personal data.
You are also welcome to contact our controller directly at the following email address: dsb@bankmelli.de

Bank Melli Iran, Hamburg

Version: May 2018
 

TEL.: 040 36 000 270

dsb@bankmelli.de


 

 The Common Reporting Standard (CRS) is u uniform reporting standard initialized by the OECD which focuses on financial accounts of persons with foreign tax residence. Its aim is to encourage tax compliance in cross-border cases by means of the autmatic intergovernmental exchange of tax-relevant (personal and) account data.

 

More than 50 nations, among them Germany, have started the implementation on January 1, 2016.

 

CRS was implemented in Germany by the Law on the Autmatic Exchange of Financial Account Information in Tax Matters (Finanzkonten-Informationsaustauschgesetz – FKAustG) which results in far-reaching identification and reporting requirements for German financial institutions.

 

Bank Melli Iran, Hamburg, therefore, is legally obligated to request tax self-certifications from its clients and to ascertain their tax residences as well as tax identification numbers.

 

This applies also to the beneficial owners of corporations as well as private companies respectively other private companies (controlling persons of a legal entity).

 

Subject to the determined foreign tax residences, financial institutions are required to report the personal, account and investment income data of these account holders to the Federal Central Tax Office on an anual basis.

The required data are reported electronically to the responsible foreign authorities under compliance with data protection and data security provisions. There are no tax withholding.

 

Decisive for tax residence in terms of CRS is the unlimited tax liability in a certain state according to the laws of this country. Concerning natural persons the crucial point usually is the place of residence or the main residence; in particular cases e.g. USA it might even be the citizenship. Concerning corporations the crucial point usually is the place of foundation, the head office or the registered office of the management.

In March 2010, the US adopted the Foreign Account Tax Compliance Act (FATCA), with the aim of promoting tax compliance among US taxpayers holding accounts outside the United States.

An intergovernmental agreement was reached between Germany and the United States and transposed into national law, thereby implementing the FATCA provisions. Since 1 July 2014, banks have been obliged to forward certain account information relating to US taxpayers annually to the US tax authorities by means of an automated process. To this end, all financial accounts held with Bank Melli Iran, Hamburg (e.g. deposit accounts, etc.) are first categorised (see Step 1 below) and then checked for certain indicators that impose a requirement of disclosure to the US tax authorities (IRS) under the FATCA agreement (see Step 2 below).

With new customers, it is determined at the time of opening the account whether or not there is liability for US tax. All disclosure requirements apply in the same way in this instance too.

Step 1 Categorisation
Reportable accounts include those that:

  • are held by one or more legal entities that are “specified US persons” and
  • are held by “passive foreign entities” (NFFEs) that are not financial institutions, with one or more controlling persons that are citizens of the United States or are resident there.

Definition of “passive NFFE”:
A “passive NFFE” is an NFFE (non-financial foreign entity) that is not an active NFFE or a withholding foreign partnership or a withholding foreign trust in accordance with the
relevant US Treasury rules.
An entity is assumed to be a passive NFFE, for instance, if:

  • more than 50% of the gross income of the NFFE in the preceding calendar year was passive income (income that does not come from an “active” activity on the market, e.g. income from capital assets) or
  • more than 50% of the assets held by the NFFE in the previous calendar year were assets with which passive income was generated or was to be generated. (For more detailed information on passive NFFEs, please refer to the document “Erläuterungen zur Selbstauskunft für Rechtsträger”, German version only)
  • For accounts of “non-participating financial institutions”, the total amount of incoming payments is reported annually to the German Federal Ministry of Finance.

If, during the categorisation process, it is determined that the entity is a German financial institution or a financial institution of a partner country, no further categorisation is required. This also applies if the account holder provides certification showing that it is:

  • a certified deemed-compliant foreign financial institution under FACTA rules (e.g. financial institutions with a local customer base),
  • an exempt beneficial owner,
  • a participating foreign financial institution or
  • is a registered deemed-compliant foreign financial institution under FACTA rules. Listed stock corporations and their subsidiaries and companies in liquidation or bankruptcy are exempt from the reporting requirement.


For further information and explicit definitions, we will be happy to provide you with our separate explanatory notes upon request.

Step 2 Checking US indicators
If a customer falls into a reportable category, we will check whether the account holder is a “US person”, i.e. a “specified US person”. This is the case if the account holder is a partnership or corporation with its headquarters in the United States, or is a company that is not a financial institution and that was established under US law, regardless of the location of its headquarters. The indicators are:


For companies:

  • company headquarters clearly in US
  • current US street or postal address and/or current US phone number
  • c/o or poste-restante address in the US
  • standing order in the US
  • account authorisation/power of attorney for US person

 

For beneficial owners/authorised persons:

  • US citizen or US resident (incl. Green Card holder)
  • clear US place of birth
  • current US street or postal address and/or current US phone number
  • c/o or poste-restante address in the US
  • account authorisation/ power of attorney for US person


If one of these indicators applies, we are required to ask for appropriate evidence of the tax residency of the customer. If it there is in fact US tax liability, the customer must provide us with his US taxpayer identification number (TIN) on form W-9 as required by the US tax authorities. Any such financial account is then deemed a US reportable account and the bank must report the account balance and, in subsequent years, the customer’s capital income to the US tax authorities. If your accounts have already qualified as US accounts elsewhere for the purposes of US taxation, no further checks will be carried out on these. However, as the account holder, you still have the option of proving, within one year, that the account is not a US account.

With new customers, we are obliged to obtain a self-assessment, on the basis of which the bank can determine whether the account holder has tax residency in the United States. In the event of US tax liability, the US taxpayer identification number (TIN) must be reported to the US tax authorities. The account will then be deemed a US reportable account.

If you have any further questions, please contact the staff in the department responsible for your account, who will be happy to advise.

You can find further information on the websites of the German Federal Ministry of Finance (www.bundesfinanzministerium.de/Web/EN) and the Internal Revenue Service (www.irs.gov).
 

In March 2010, the US adopted the Foreign Account Tax Compliance Act (FATCA), with the aim of promoting tax compliance among US taxpayers holding accounts outside the United States.
 
An intergovernmental agreement was reached between Germany and the United States and transposed into national law, thereby implementing the FATCA provisions. Since 1 July 2014, banks have been obliged to forward certain account information relating to US taxpayers annually to the US tax authorities by means of an automated process.
 
To this end, all financial accounts held with Bank Melli Iran, Hamburg (e.g. deposit accounts, etc.) are checked to verify whether the account holder is a US person. If there is an indicator for this, the bank has a legal obligation of disclosure to the US tax authorities (IRS). We check all accounts held at our bank to see if they meet the following criteria:

  • US citizenship or US residency (incl. Green Card holder)
  • clear US place of birth
  • current US street or postal address or current US phone number
  • c/o or poste-restante address in the US
  • standing order in the US
  • account authorisation/power of attorney for US person

If one of these indicators applies, we are required to ask for appropriate evidence of the tax residency of the customer. If it there is in fact US tax liability, the customer must provide us with his US taxpayer identification number (TIN) on form W-9 as required by the US tax authorities. Any such financial account is then deemed a US reportable account and the bank must report the account balance and, in subsequent years, the customer’s capital income to the US tax authorities.
 
With new customers, we are obliged to obtain a self-assessment, on the basis of which the bank can determine whether the account holder has tax residency in the United States. In the event of US tax liability, the US taxpayer identification number (TIN) must be reported to the US tax authorities. The account will then be deemed a US reportable account.
 
If you have any further questions, please contact the staff in the department responsible for your account, who will be happy to advise.

You can find further information on the websites of the German Federal Ministry of Finance (www.bundesfinanzministerium.de/Web/EN) and the Internal Revenue Service (www.irs.gov).

Site Content
We make every effort to ensure that the information on this website is correct and complete. We can, however provide no guarantee that the information on this website is up to date, correct or complete and can accept no liability in this regard. Bank Melli Iran, Hamburg, reserves the right to make changes or additions at any time to the information provided. All information provided on this website is for general information purposes only.
 
Legal Notice
All text, images, and design features on this website are copyright protected. The reproduction of any content or information herein, in particular the use of text, images, logos, brands or trademarks, requires the prior written consent of Bank Melli Iran, Hamburg.
Bank Melli Iran, Hamburg, has taken the greatest possible care in creating and checking this website. It reserves the right to change, add to or delete the pages and content provided on this website at any time, in full or in part, or to discontinue this service.

Liability
Please note that Bank Melli Iran, Hamburg, provides no guarantee of the accuracy or completeness of the content on this website nor any guarantee that the content of the website is up to date or of the availability or accessibility of the website. The content of this website has been carefully compiled to the best of our knowledge and belief. Under no circumstances will we accept any liability for the completeness or accuracy of the content or for the content being up to date.
The website of Bank Melli Iran, Hamburg, may contain references to the websites of third parties, for example in the form of hyperlinks. The content of other websites that these hyperlinks may link to is beyond the sphere of control and responsibility of the Hamburg branch office of Bank Melli Iran. The bank hereby expressly states that it has no association with or responsibility for the content on linked sites. If you use these links, you do so at your own risk.

Prohibition of Promotional Emails
We hereby expressly prohibit the use of the contact information provided on the website of Bank Melli Iran, Hamburg, within the Site Notice or otherwise, for the sending of promotional material that has not been expressly solicited. Bank Melli Iran, Hamburg, reserves the right to take legal action if it is sent unsolicited promotional material, e.g. via spam emails.

The Federal Republic of Germany is a member state of the Financial Action Task Force (FATF) and the European Union (EU), which create the laws and rules to combat and prevent money laundering and terrorist financing.

Bank Melli Iran, Hamburg, has an anti-money laundering (AML) programme to meet these requirements. The AML programme includes written guidelines and procedures, the appointment of an anti-money laundering officer, regular training of the relevant staff and an independent audit for verification of these measures.

As another component of the programme, the bank takes appropriate measures to ensure compliance with the applicable embargo regulations.

Basic Rules Governing the Relationship Between the Customer and the Bank
1. Scope of application and amendments of these Business Conditions and the Special Conditions for particular business relations
(1) Scope of application
The General Business Conditions govern the entire business relationship between the customer and the bank’s domestic offices (hereinafter referred to as the “Bank”). In addition, particular
business relations (securities transactions, payment services and savings accounts, for example) are governed by Special Conditions, which contain deviations from, or complements to, these General Business Conditions; they are agreed with the customer when the account is opened or an order is given. If the customer also maintains business relations with foreign offices, the Bank’s
lien (No. 14 of these Business Conditions) also secures the claims of such foreign offices.
(2) Amendments
Any amendments of these Business Conditions and the Special Conditions shall be offered to the customer in text form no later than two months before their proposed date of entry into force. If the customer has agreed an electronic communication channel (e.g. online banking) with the Bank within the framework of the business relationship, the amendments may also be offered through this channel. The customer may indicate either approval or disapproval of the amendments before their proposed date of entry into force. The amendments shall be deemed to have been approved by the customer, unless the customer has indicated disapproval before their proposed date of  entry into force. The Bank shall expressly draw the customer’s attention to this consequent approval in its offer. If the customer is offered amendments of conditions governing payment services (e.g. conditions for credit transfers), the ustomer may also terminate the payment services framework contract free of charge with immediate effect before the proposed date of entry into force of the amendments. The Bank shall expressly draw the customer’s attention to this right of termination in its offer.
2. Banking secrecy and disclosure of banking affairs
(1) Banking secrecy
The Bank has the duty to maintain secrecy about any customerrelated facts and evaluations of which it may have knowledge (banking secrecy). The Bank may only disclose information  con-cerning the customer if it is legally required to do so or if the customer has consented thereto or if the Bank is authorized to disclose banking affairs.
(2) Disclosure of banking affairs
Any disclosure of details of banking affairs comprises statements and comments of a general nature concerning the economic status, the creditworthiness and solvency of the customer; no information shall be disclosed as to amounts of balances of accounts, of  savings deposits, of securities deposits or of other assets ntrusted to the Bank or as to amounts drawn under a credit facility.
(3) Prerequisites for the disclosure of banking affairs
The Bank shall be entitled to disclose banking affairs concerning.  legal entities and on  business-persons registered in the Commercial Register, provided that the inquiry relates to their business  activities. The Bank shall not, however, disclose any information if it has received instructions to the contrary from the customer. Details of banking affairs concerning other persons, in particular retail customers and associations, shall be disclosed by the Bank only if such persons have expressly agreed thereto, either generally or in an individual case. Details of banking affairs shall be disclos ed only if the requesting party has substantiated its justified interest in the  infor-mation requested and there is no reason to assume that the disclosure of such information would be contrary to the customer’s legitimate concerns.
(4) Recipients of disclosed banking affairs
The Bank shall disclose details of banking affairs only to its own customers as well as to other credit institutions for their own purposes or those of their customers.
3. Liability of the Bank; contributory negligence of the customer
(1) Principles of liability
In performing its obligations, the Bank shall be liable for any negligence on the part of its staff and of those persons whom it may call in for the performance of its obligations. If the Special conditions for particular business relations or other agreements contain provisions inconsistent herewith, such provisions shall prevail. In the event that the customer has contributed to the occurrence of the loss by any own fault (e.g. by violating the duties to cooperate as mentioned in No. 11 of these Business Conditions), the principles of contributory negligence shall determine the extent to which the bear the loss.
(2) Orders passed on to third parties
If the contents of an order are such that the Bank typically entrusts a third party with its further execution, the Bank performs the order by passing it on to the third party in its own name (order passed on to a third party). This applies, for example, to obtaining information on banking affairs from other credit institutions or to the custody and administration of securities in other countries. In such cases, the liability of the Bank shall be limited to the careful selection and instruction of the third party.
(3) Disturbance of business
The Bank shall not be liable for any losses caused by force majeure, riot, war or natural events or due to other occurrences for which the Bank is not responsible (e.g. strike, lock-out, traffic hold-ups, administrative acts of domestic or foreign high authorities).
4. Set-off limitations on the part of the customer who is not consumer
A non-consumer customer may only set off claims against those of the Bank if the customer’s claims are undisputed or have been confirmed by a final court decision. This set-off limitations shall not apply to any claim for which offsetting is invoked by the client that has its legal basis in a loan or financial support pursuant to Sections 513 and 491-512 of the German Civil Code [BGB].
5. Right of disposal upon the death of the customer
Upon the death of the customer, any person who approaches the Bank claiming to be the customer’s legal successor shall be required to furnish suitable proof to the Bank of their entitlement under inheritance la. If an official or certified copy of the testamentary disposition (last will or contract of inheritance) together with the relevant record of probate proceedings is present-ed to the Bank, the Bank may consider any person designated therein as heir or executor as the entitled person, allow this person to dispose of any assets and, in particular, make payment or delivery to this person, thereby discharging its obligations. This shall not apply if the Bank is aware that the person designated therein is not entitled to dispose (e.g. following challenge or invalidity of the will) or if this has not come to the knowledge of the Bank due to its own negligence. The present translation is furnished for the customer’s convenience only. The original German text of the General Business Conditions is binding in all respects. In the event of any divergence between the English and the German texts, constructions, meanings, or interpre-tations, the German text, construction, meaning or interpretation shall govern exclusively.
General Business Conditions
6. Applicable law and place of jurisdiction for customers
who are businesspersons or public-law entitie
(1) Applicability of German law shall apply to the business relationship between the customer and the Bank.
(2) Place of jurisdiction for domestic customers
If the customer is a businessperson and if the business relation in dispute is attributable to the conducting of such businessperson’s trade, the Bank may sue such customer before the court having jurisdiction for the bank office keeping the account or before any other competent court; the same applies to legal entities under public law and separate funds under public law. The Bank itself may be sued by such customers only before the court having jurisdiction for the bank office keeping the account.
(3) Place of jurisdiction for foreign customers
The agreement upon the place of jurisdiction shall also apply to customers who conduct a comparable trade or business abroad and to foreign institutions which are comparable with domestic legal entities under public law or a domestic separate fund under public law.Periodic balance statements for current accounts
(1) Issue of periodic balance statements
Unless otherwise agreed, the Bank shall issue a periodic balance statement for a current account at the end of each calendar quarter, thereby clearing the claims accrued by both parties during
this period (including interest and charges imposed by the Bank). The Bank may charge interest on the balance arising therefrom in accordance with No. 12 of these Business Conditions or any other agreements entered into with the customer.
(2) Time allowed for objections; approval by silence
Any objections a customer may have concerning the incorrectness or incompleteness of a periodic balance statement must be raised not later than six weeks after its receipt; if the  objec-tions are made in text form, it is sufficient to dispatch these within the period of six weeks. Failure to make objections in due time shall be considered as approval. When issuing the periodic balance tatement, the Bank shall expressly draw the customer’s attention to this consequence. The customer may demand a correction of the periodic balance statement even after expiry of this period, but must then prove that the account was either wrongly debited or mistakenly not credited.
8. Reverse entries and correction entries made by the Bank
(1) Prior to issuing a periodic balance statement
Incorrect credit entries on current accounts (e.g. due to a wrong account number) may be revers -ed by the Bank through a debit entry prior to the issue of the next periodic balance statement to the extent that the Bank has a repayment claim against the customer (reverse entry); in this case, the customer may not object to the debit entry on the grounds that a disposal of an amount equivalent to the credit entry has already been made.
(2) After issuing a periodic balance statement
If the Bank ascertains an incorrect credit entry after a periodic balance statement has been issued and if the Bank has a repayment claim against the customer, it shall debit the account of the customer with the amount of its claim (correction entry). If the customer objects to the correction entry, the Bank shall re-credit the account with the amount in dispute and assert its repayment
claim separately.
(3) Notification to the customer; calculation of interest
The Bank shall immediately notify the customer of any reverse entries and correction entries made. With respect to the calculation of interest, the Bank shall effect the entries retroactively as of the day on which the incorrect entry was made.
9. Collection orders
(1) Conditional credit entries effected upon presentation of documents
If the Bank credits the countervalue of cheques and direct debits prior to their payment, this is done on condition of payment, even if these items are payable at the Bank itself. If the customer
surrenders other items, instructing the Bank to collect an amount due from a debtor (e.g. interest coupons), and if the Bank effects a credit entry for such amount, this is done under the reserve that the Bank shall obtain the amount. This reserve shall also apply if the cheques, direct debits and other items are payable at the Bank itself. If cheques or direct debits are not paid or if the Bank does not obtain the amount under the collection order, the Bank shall cancel the conditional credit entry regardless of whether or not a periodic balance statement has been issued in the meantime.
(2) Payment of direct debits and of cheques made out by the customer
Direct debits and cheques shall be deemed to have been paid, unless the debit entry is cancelled prior to the end of the second bank working day1 – in the case of SEPA business-to-business
(B2B) direct debits, prior to the end of the third bank working day – after it was made. Cheques payable in cash shall be deemed to have been paid once their amount has been paid to the  presenting party. Cheques shall also be deemed to have been paid as soon as the Bank dis-patches an advice of payment. Cheques presented through the clearing office of the Bundesbank shall be deemed to have been paid, unless they are returned by the time stipulated by the Bundesbank.
10. Foreign currency transactions and risks inherent in foreign currency accounts
(1) Execution of orders relating to foreign currency accounts
Foreign currency accounts of the customer serve to effect the cashless settlement of payments to and disposals by the customer in foreign currency. Disposals of credit balances on foreign
currency accounts (e.g. by means of credit transfers to the debit of the foreign currency credit balance) are settled through or by banks in the home country of the currency, unless the Bank executes them entirely within its own organisation.
(2) Credit entries for foreign currency transactions with the Customer
If the Bank concludes a transaction with the customer (e.g. a forward exchange transaction) under which it owes the provision of an amount in a foreign currency, it shall discharge its foreign
currency obligation by crediting the account of the customer in the respective currency, unless otherwise agreed.
(3) Temporary limitation of performance by the Bank
The Bank’s duty to execute a disposal order to the debit of a foreign currency credit balance (paragraph 1) or to discharge a foreign currency obligation (paragraph 2) shall be suspended to the extent that and for as long as the Bank cannot or can only restrictedly dispose of the currency in which the foreign currency credit balance or the obligation is denominated, due to political measures or events in the country of the respective currency. To the extent that and for as long as such measures or events persist, the Bank is not obligated either to perform at some other place outside the country of the respective currency, in some other currency (including euros) or by providing cash. However, the Bank’s duty to execute a disposal order to the debit of a foreign currency credit balance shall not be suspended if the Bank can execute it entirely within its own organisation. The right of the customer and of the Bank to set off mutual claims due in the same currency against each other shall not be affected by the above provisions.
(4) Exchange rate
The exchange rate for foreign currency transactions shall be determined on the basis of the “List of Prices and Services” (Preisund Leistungsverzeichnis). Payment services shall be governed in
addition by the payment services framework contract.
Duties of the Customer to Cooperate
11. Duties of the customer to cooperate
(1) Notification of changes
A proper settlement of business requires that the customer notify the Bank without delay of any changes in the customer’s name and address, as well as the termination of, or amendment to, any powers of representation towards the Bank conferred to any person (in particular, a power of attorney). This notification duty also exists where the powers of representation are recorded in a public register (e.g. the Commercial Register) and any termination thereof or any amendments thereto are entered in that register. Additional statutory notification requirements, resulting from the German Money Laundering Act (Geldwäschegesetz) in particular, may apply.
(2) Clarity of orders
Orders must unequivocally show their contents. Orders that are not worded clearly may lead to queries, which may result in delays. In particular, when giving orders, the customer must ensure that the information the customer provides, particulary the domestic account number and bank code number (“Bankleitzahl”) or IBAN2 and BIC3 and the currency, are complete and correct. Amendments, confirmations or repetitions of orders must be designated as such.
(3) Special reference to urgency in connection with the execution of an order
If the customer feels that an order requires particularly prompt execution, the customer shall notify the Bank of this fact separately. For orders issued on a printed form, this must be done separately
from the form.
1 Bank working days are all working days except Saturdays, 24 December and 31 December.      2- International Bank Account Number 3Bank Identifier Code (4) Examination of, and objections to, notification received from the Bank The customer must immediately examine account statements, securities contract notes, statements of securities holdings and earnings, other statements, advices of execution of orders, as well as information on expected payments and consignments (advices), as to their correctness and completeness and immediately raise any objections relating thereto. 
(5) Notice to the Bank in case of non-receipt of statements
The customer must notify the Bank immediately if periodic balance statements and statements of securities holdings are not received. The duty to notify the Bank also exists if other advices
expected by the customer are not received (e.g. securities contract notes, account statements after execution of customer orders or regarding payments expected by the customer).
Cost of Bank Services
12. Interest, charges and expenses
(1) Interest and charges in business with consumers
The amount of interest and charges for the customary services which the Bank provides to consumers, including the amount of any payments in addition to the remuneration agreed for the principal service, is set out in the “Price Display – Standard rates for retail banking” (Preisaushang – Regelsätze im standardisierten Privat- kundengeschäft) and the “List of Prices and Services”
(Preis- und Leistungsverzeichnis).
If a customer makes use of a service included therein, and unless otherwise agreed between the Bank and the customer, the interest and charges stated in the then valid Price Display or “List of
Prices and Services” are applicable. Any agreement that concerns a payment made by the  con- sumer in addition to the remuneration agreed for the principal service must be expressly concluded by the Bank with the consumer, even if such payment is stated in the Price Display or the “List of Prices and Services”. Unless otherwise agreed, the charges for any services not included in the Price Display or the “List of Prices and Services” which are provided following the instructions of the customer and which can, in the given circumstances, only be expected to be provided against remuneration, shall be governed by the relevant statutory provisions.
(2) Interest and charges in business with customers who are not consumers
The amount of interest and charges for the customary banking services which the Bank provides to customers who are not consumers is set out in the “Price Display – Standard rates for retail
banking” (Preisaushang – Regelsätze im standardisierten Privatkundengeschäft) and the “List of Prices and Services” (Preis- und Leistungs- verzeichnis), provided that the Price Display and the “List of Prices and Services” include customary banking services to customers who are not consumers (e.g. business customers). If a customer who is not a consumer makes use of a service included therein, and unless otherwise agreed between the Bank and the customer, the interest and charges stated in the then valid Price Display or “List of Prices and Services” are applicable. Otherwise, in the absence of any other agreement or conflict with statutory provisions, the Bank shall determine the amount of interest and charges at its reasonable discretion (Section 315 of the German Civil Code [Bürgerliches Gesetzbuch – BGB]).
(3) Non-chargeable service
The Bank shall not charge for any service which it is required to provide by law or pursuant to a contractual accessory obligation or which it performs in its own interest, unless such charge is legally permissible and levied in accordance with the relevant statutory provisions.
(4) Changes in interest rates; right of termination by the customer in the event of an increase
In the case of variable interest rate loans, the interest rate shall be adjusted in accordance with the terms of the respective loan agreement. The Bank shall notify the customer of any interest rate adjustments. If the interest rate is increased, the customer may, unless otherwise agreed, terminate the loan agreement affected thereby with immediate effect within six weeks from notification of the change. If the customer terminates the loan agreement, any such increased interest rate shall not be applied to the terminated loan agreement. The Bank shall allow a reasonable period of time for settlement.
(5) Changes in charges for services typically used on a permanent basis
Changes in charges for banking services which are typically used by customers within the framework of the business relationship on a permanent basis (e.g. account/securities account management) shall be offered to the customer in text form no later than two months before their proposed date of entry into force. If the customer has agreed an electronic communication channel (e.g. online banking) with the Bank within the framework of the business relationship,
the changes may also be offered through this channel. The customer may indicate either approval or disapproval of the changes before their proposed date of entry into force. The changes shall be deemed to have been approved by the customer, unless the customer has indicated disapproval before their proposed date of entry into force. The Bank shall expressly draw the customer’s attention to this consequent approval in its offer. If the customer is offered the changes, the customer may also terminate the agreement affected by the changes free of charge with imme- diate effect before the proposed date of entry into force of the changes. The Bank shall expressly draw the customer’s attention to this right of termination in its offer. If the customer terminates the agreement, the adjusted charge shall not be applied to the terminated agreement. The aforementioned arrangement shall only apply to consumers if the Bank intends to adjust the charges for principal services which are typically used by consumers within the framework of the business relationship on a permanent basis. Any agreement on the adjustment of a charge that concerns a payment made by the consumer in addition to the remuneration agreed for the principal service must be expressly concluded by the Bank with the consumer.
(6) Reimbursement of expenses
Any entitlement by the Bank to reimbursement of expenses shall be governed by the applicable statutory provisions.
(7) Special arrangements for consumer loan agreements and payment services contracts with consumers for payments The interest and costs (charges, out-of-pocket expenses) for consumer loan agreements and payment services contracts with consumers for payments shall be determined by the relevant contractual arrangements and Special Conditions as well as the
additional statutory provisions. Changes in charges for payment services framework contracts (e.g. current account agreements) shall be governed by paragraph 5. Security for the Bank’s Claims Against the Customer
13. Providing or increasing security
(1) Right of the Bank to request security
The Bank may demand that the customer provide the usual forms of security for any claims that may arise from the banking relationship, even if such claims are conditional (e.g. indemnity
for amounts paid under a guarantee issued on behalf of the customer). If the customer has assumed a liability for another customer’s obligations towards the Bank (e.g. as a surety), the
Bank is, however, not entitled to demand that security be provided or increased for the debt resulting from such liability incurred before the maturity of the debt.
(2) Changes in the risk
If the Bank, upon the creation of claims against the customer, has initially dispensed wholly or partly with demanding that security be provided or increased, it may nonetheless make such a demand at a later time, provided, however, that circumstances occur or become known which justify a higher risk assessment of the claims against the customer. This may, in particular, be the case if – the economic status of the customer has changed or threatens to change in a negative manner or
– the value of the existing security has deteriorated or threatens to deteriorate.
The Bank has no right to demand security if it has been expressly agreed that the customer either does not have to provide any security or must only provide that security which has been specified. For consumer loan agreements, the Bank is entitled to demand that security be provided or increased only to the extent that such security is mentioned in the loan agreement. When, however, the net loan amount exceeds EUR 75,000, the Bank may demand thatsecurity be provided or increased even if a consumer loan agreement or a general consumer loan agreement within the meaning of Section 491 (2) of the German Civil Code which is concluded, in the former case, before 21 March 2016 and, in the latter case, from 21 March 2016 does not contain any or any exhaustive indications as to security.
(3) Setting a period of time for providing or increasing security
The Bank shall allow a reasonable period of time for providing or increasing security. If the Bank intends to make use of its right of termination without notice according to No. 19 (3) of these Business Conditions should the customer fail to comply with the obligation to provide or increase security within such period, it shall draw the customer’s attention to this consequence before doing so.
14. Lien in favour of the Bank
(1) Agreement on the lien
The customer and the Bank agree that the Bank acquires a lien on the securities and chattels which, within the scope of banking business, have come or may come into the possession of a domestic office of the Bank. The Bank also acquires a lien on any claims which the customer has or may in future have against the Bank arising from the banking relationship (e.g. credit balances).
(2) Secured claims
The lien serves to secure all existing, future and contingent claims arising from the banking relationship which the Bank with all its domestic and foreign offices is entitled to against the customer. If the customer has assumed liability for another customer’s obligations towards the Bank (e.g. as a surety), the lien shall not secure the debt resulting from the liability incurred before the maturity of the debt.
(3) Exemptions from the lien
If funds or other assets come into the power of disposal of the Bank under the reserve that they may only be used for a specified purpose (e.g. deposit of cash for payment of a bill of exchange),
the Bank’s lien does not extend to these assets. The same applies to shares issued by the Bank itself (own shares) and to securities which the Bank keeps in custody abroad for the customer’s account. Moreover, the lien extends neither to the profit-participation rights/ profit-participation certificates (Genussrechte/Genussscheine) issued by the Bank itself nor to the Bank’s securitised and non-securitised subordinated liabilities.
(4) Interest and dividend coupons
If securities are subject to the Bank’s lien, the customer is not entitled to demand the delivery of the interest and dividend coupons apertaining to such securities.
15. Security interests in the case of items for collection and discounted bills of exchange
(1) Transfer of ownership by way of security
The Bank acquires ownership by way of security of any cheques and bills of exchange deposited for collection at the time such items are deposited. The Bank acquires absolute ownership of discounted bills of exchange at the time of the purchase of such items; if it re-debits discounted bills of exchange to the account, it retains the ownership by way of security in such bills of exchange.
(2) Assignment by way of security
The claims underlying the cheques and bills of exchange shall pass to the Bank simultaneously with the acquisition of ownership in the cheques and bills of exchange; the claims also pass to the Bank if other items are deposited for collection (e.g. direct debits, documents of commercial trading).
(3) Special-purpose items for collection
If items for collection are deposited with the Bank under the reserve that their countervalue may only be used for a specified purpose, the transfer or assignment of ownership by way of security does not extend to these items.
(4) Secured claims of the Bank
The ownership transferred or assigned by way of security serves to secure any claims which the Bank may be entitled to against the customer arising from the customer’s current account when
items are deposited for collection or arising as a consequence of the re-debiting of unpaid items for collection or discounted bills of exchange. Upon request of the customer, the Bank retransfers to the customer the ownership by way of security of such items and of the claims that have passed to it if it does not, at the time of such request, have any claims against the customer that need to be secured or if it does not permit the customer to dispose of the countervalue of such items prior to their final payment.
16. Limitation of the claim to security and obligation to release
(1) Cover limit
The Bank may demand that security be provided or increased until the realisable value of all security corresponds to the total amount of all claims arising from the banking business relationship (cover limit).
(2) Release
If the realisable value of all security exceeds the cover limit on a more than temporary basis, the Bank shall, at the customer’s request, release security items as it may choose in the amount
exceeding the cover limit; when selecting the security items to be released, the Bank shall take into account the legitimate concerns of the customer or of any third party having provided security for the customer’s obligations. To this extent, the Bank is also obliged to execute orders of the customer relating to the items subject to the lien (e.g. sale of securities, repayment of savings deposits).
(3) Special agreements
If assessment criteria for a specific security item other than the realisable value or another cover limit or another limit for the release of security have been agreed, these other criteria or limits
shall apply.
17. Realisation of security
(1) Option of the Bank
If the Bank realises security, it may choose between several security items. When realising security and selecting the items to be realised, the Bank shall take into account the legitimate concerns of the customer and any third party who may have provided security for the obligations of the customer.
(2) Credit entry for proceeds under turnover tax law
If the transaction of realisation is subject to turnover tax, the Bank shall provide the customer with a credit entry for the proceeds, such entry being deemed to serve as invoice for the supply of the item given as security and meeting the requirements of turnover tax law (Umsatzsteuerrecht).
Termination
18. Termination rights of the customer
(1) Right of termination at any time
Unless the Bank and the customer have agreed a term or a diverging termination provision, the customer may at any time, without notice, terminate the business relationship as a whole or particular business relations (e.g. a chequing agreement).
(2) Termination for reasonable cause
If the Bank and the customer have agreed a term or a diverging termination provision for a particular business relation, such relation may only be terminated without notice if there is reasonable cause therefor which makes it unacceptable to the customer to continue it, also after giving consideration to the legitimate concerns of the Bank.
(3) Statutory termination rights
Statutory termination rights shall not be affected.
19. Termination rights of the Bank
(1) Termination upon notice
Upon observing a reasonable period of notice, the Bank may at any time terminate the business relationship as a whole or particular business relations for which neither a term nor a diverging termination provision has been agreed (e.g. the chequing agreement authorizing the use of cheque forms). In determining the period of notice, the Bank shall take into account the legitimate concerns of the customer. The minimum termination notice for a payment services framework contract (e.g. current account or card contract) and a securities account shall be two months.
(2) Termination of loans with no fixed term
Loans and loan commitments for which neither a fixed term nor a diverging termination provision has been agreed may be terminated at any time by the Bank without notice. When exercising this right of termination, the Bank shall give due consideration to the legitimate concerns of the customer.
Where the German Civil Code contains specific provisions for the termination of a consumer loan agreement, the Bank may only terminate the agreement as provided therein.
(3) Termination for reasonable cause without notice
Termination of the business relationship as a whole or of particular  business relations without notice is permitted if there is reasonable cause which makes it unacceptable to the Bank to continue the business relations, also after having given consideration to the legitimate concerns of the customer. Reasonable cause is given in particular
– if the customer has made incorrect statements as to the customer’s financial status, provided such statements were of significant importance for the Bank’s decision concerning the granting of credit or other operations involving risks for the Bank (e.g. the delivery of a payment card); for consumer loans, this shall only apply if the customer has knowingly withheld or falsified information of relevance for assessing creditworthiness and this has led to a faulty assessment of
creditworthiness, or
– if a substantial deterioration in the customer’s financial status or in the value of security occurs or threatens to occur, jeopardizing the repayment of a loan or the discharge of any other obligation towards the Bank even if security provided therefor is realised, or 
– if the customer fails to comply, within the required period of time allowed by the Bank, with the obligation to provide or increase security according to No. 13 (2) of these Business Conditions or to the provisions of some other agreement. If reasonable cause is given due to the breach of a contractual obligation, termination shall only be permitted after expiry, without result, of a reasonable period of time fixed for corrective action by the customer or after a warning to the customer has proved unsuccessful, unless this proviso can be dispensed with owing to the special features of a particular case (Section 323 (2) and (3) of the German Civil Code).
(4) Termination of consumer loan agreements in the event of default
Where the German Civil Code contains specific provisions for the termination of a consumer loan agreement subsequent to repayment default, the Bank may only terminate the agreement as provided therein.

(5) Termination of a basic account agreement
The Bank may only terminate a basic account agreement in ccordance with the arrangements concluded between the Bank and the customer on the basis of the German Payment Accounts Act (Zahlungskonten-gesetz) and with the provisions of the German Payment Accounts Act.
(6) Settlement following termination
In the event of termination without notice, the Bank shall allow the customer a reasonable period of time for settlement (in particular for the repayment of a loan), unless it is necessary to attend immediately thereto (e.g. the return of cheque forms following termination of a chequing agree-ment).
Protection of Deposits
20. Deposit Protection Fund
(1) Scope of protection
The Bank is a member of the Deposit Protection Fund of the Association of German Banks (Einlagensicherungsfonds des Bundesverbandes deutscher Banken e.V.). In accordance with its By-laws – subject to the exceptions provided for therein – the Deposit Protection
Fund protects deposits, i.e. credit balances which result from funds left in an account or from temporary situations deriving from banking transactions and which the Bank is required to repay under the conditions applicable. Not protected are, inter alia, deposits forming part of the Bank’s own funds, liabilities from bearer and order bonds, as well as deposits of credit institutions within the meaning of Article 4 (1), point (1) of Regulation (EU) No. 575/2013, financial institutions within the meaning of Article 4 (1), point (26) of Regulation (EU) No. 575/2013, investment firms within the meaning of Article 4 (1), point (1) of Directive 2004/39/EC and central, regional and local authorities.Deposits of creditors other than natural persons and foundations with legal capacity are only protected if (i) the deposit is not a liability from a registered bond or a promissory note and (ii) the term of the deposit is not more than 18 months. Deposits that already existed before 1 January 2020 shall not be subject to this limitation of term. After 31 December 2019, the ‘grandfathered’ status pursuant to the preceding sentence shall cease to apply as soon as the deposit in question falls due, can be terminated or otherwise reclaimed, or if the deposit is transferred by way of individual or universal succession in title.Liabilities of banks that already existed before 1 October 2017 are protected in accordance with and under the conditions laid down in the provisions of the By-laws of the Deposit Protection Fund applying until 1 October 2017. After 30 September 2017, the ‘grandfathered’ status pursuant to the preceding sentence shall cease to apply as soon as the liability in question falls due, can be terminated or otherwise reclaimed, or if the liability is transferred by way of individual or universal succession in title.
(2) Protection ceilings
The protection ceiling for each creditor is, until 31 December 2019, 20%, until 31 December 2024, 15%, and, as of 1 January 2025, 8.75% of the Bank’s own funds within the meaning of Article
72 of Regulation (EU) No. 575/2013 used for deposit protection purposes. Deposits established or renewed after 31 December 2011 shall be subject to the respective new protection ceilings as
of the aforementioned dates, irrespective of the time when the deposits are established. Deposits established before 31 December 2011 shall be subject to the old protection ceilings until maturity or until the next possible termination date. This protection ceiling shall be notified to the customer by the Bank on request. It is also available on the internet at www.bankenverband.de.                 (3) Validity of the By-laws of the Deposit Protection Fund
Further details of protection are contained in Section 6 of the By laws of the Deposit Protection Fund, which are available on request.
(4) Transfer of claims
To the extent that the Deposit Protection Fund or its mandatory makes payments to a customer, the respective amount of the customer‘s claims against the Bank, together with all subsidiary rights, shall be transferred simultaneously to the Deposit Protection Fund.
(5) Disclosure of information
The Bank shall be entitled to disclose to the Deposit Protection Fund or to its mandatory all the necessary information in this respect and to place documents at their disposal.
Complaint Channels/
Ombudsman Scheme
21. Complaints procedure and alternative dispute resolution
Customers have the following out-of-court options:
– Customers may address a complaint to the contact point specified
by the Bank in its “List of Prices and Services”. The Bank will answer complaints in an appropriate manner; where payment services contracts are concerned, it will do so in text form (e.g. by letter, telefax or email).
– The Bank participates in the dispute resolution scheme run by the consumer arbitration body “The German Private Banks’ Ombudsman” (www.bankenombudsmann.de). Consumers may have any disputes with the Bank resolved by the Ombudsman. Where disputes oncerning a payment services contract (Section 675f of the German Civil Code) are involved, customers who are not consumers also may request their resolution by the Ombudsman. Further details are contained in the “Rules of Procedure for the Settlement of Customer Complaints in the German Private Commercial Banking Sector”, which are available on request or can be downloaded from the Internet at www.bankenverband.de. Complaints should be addressed in text form (e.g. by letter, telefax or email) to the Customer Complaints Office (Kundenbeschwerdestelle) at the Association of German Banks (Bundesverband deutscher Banken), P.O. Box (Postfach) 040307, 10062 Berlin; fax: +49 (0)30 16633169; email: ombudsmann@bdb.de.
– In addition, customers may make complaints at any time in writing or orally on the record to the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht
– BaFin), Graurheindorfer Strasse 108, 53117 Bonn, about breaches by the Bank of the German Payment Services Supervision Act (Zahlungsdiensteaufsichtsgesetz – ZAG), Sections 675c – 676c of the German Civil Code (Bürgerliches Gesetzbuch – BGB) or Article 248 of the Act Introducing the German Civil Code (Einführungsgesetz zum Bürgerlichen Gesetzbuch – EGBGB).
– The European Commission has set up a European Online Dispute Resolution (ODR) Platform at http://ec.europa.eu/consumers/odr/. Consumers can use the ODR Platform for out-of-court resolution of a dispute arising from online contracts with a company domiciled in the EU.

 Help us to improve our services for you. Do you have any suggestions or ideas how we can improve our services? Perhaps there is also an incident with which you were dissatisfied? We are looking forward to your suggestions. We will take care of your request and inform you about the result.

1. How can you inform us about your request?

Please send us an E-Mail to complaint-management@bankmelli.de and mention

 your full name and address, as well as general contact details for further inquiries
 your account number, if available
 please describe the facts of the case and enclose documents, if necessary.

Of course you can also send us your request by post. Please address your letter to:

Bank Melli Iran
complaint management
Holzbrücke 2
20459 Hamburg
Germany

We are also looking forward to a personal message of your opinion. Please do not
hesitate to contact our employees, because many things can already be solved on the spot.

2. What is the procedure?

You will receive a confirmation of receipt from us within 2 bank working days. Your request will be checked and processed by us in detail. We will inform you within 14 bank working days of the result of the procedure. If we have any questions to you regarding the facts of the case or other reasons for a delay in the proceedings, this period is automatically extended.

3. Is there an alternative dispute resolution option?

If you do not agree with the result of the proceedings notfied to you, you can maintain the appeal proceedings and contact the Ombudsman of the private banks in Germany. https://bankenombudsmann.de
Here you have the possibility of an alternative dispute resolution procedure.