01 September 2025

Change to Current Account & Debit Card Terms & Conditions

FAO: Our Current Account holders

Dear members, please be advised that we're making some changes to your Current Account and Debit Card Terms and Conditions. An updated copy of which is available below:

UPDATED CURRENT ACCOUNT TERMS & CONDITIONS

Summary of key changes

SEPA Instant Payments and Verification of Payee (VOP)

On or before the 9th of October 2025 you can send and receive funds to your Current Account in under 10 seconds via our online services or in branch. We are also introducing Verification of Payee (VOP). VOP is a new security measure to ensure that your funds are sent to the intended recipient. When making payments you will be prompted to carry out a check to identify if the name of the payee you are paying matches the IBAN before you send the SEPA Payment. Clauses 5, 10, 13, 14, 15 and 16 have been updated to reflect these changes

Making our documents more accessible.

In line with the European Accessibility Act 2025 (EEA), we are committed to making our services more accessible to all and the updated documents meet the European Acccessiblity Act requirements.

Other Updates

We have expanded our Definitions to provide further clarity and include ‘SEPA Instant Credit Transfer’ and “Verification of Payee’.
Reference to “Mastercard” has been replaced with reference to “Card Scheme” to cover both “Mastercard” and “Visa”.
We have updated the account usage to enable us to offer “sole trader” accounts in the future.
We have updated the time it takes to clear cheques lodged to your account from “up to 5 Business Days” to “up to 10 Business Days”.
We have updated Clause 61 Ending this Agreement and Interruption to services to include we may cease the account “if you are not resident in the Republic of Ireland”.
We have clarified how we handle payments made in error and your responsibilities in such cases.
Also below is a copy of our updated Fees and charges brochure. There has been no change to our Fees and Charges, the document was updated similar to the Terms and Conditions to remove reference to “Mastercard” and replace with reference to “Card Scheme” to cover both “Mastercard” and “Visa” UPDATED FEES & CHARGES BROCHURE

Any questions?

Please contact us on info@ansaccu.ie / 018554489 and we'll be happy to address your questions.

Kind regards,

Gillian Dunne,

CEO of ANSAC Credit Union Ltd.

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