Introduction
These “Additional Terms and Conditions” are in addition to the general terms and conditions set out in Our Relationship between you and Raphaels Bank, and are specific to High Interest Fixed Rate Bond Account holders. Such conditions relate specifically to the opening of your Bond, your fixed rate of interest, when it is credited, and the rules for withdrawals and closure of your Account. If there is considered to be any conflict between these Additional Terms and Conditions and those set out in Our Relationship, then these Additional Terms and Conditions shall be deemed to apply.  Our Relationship and these Additional Terms and Conditions make up the entire agreement between you and Raphaels Bank with respect to your High Interest Fixed Rate Bond Account. You should keep a copy of these Additional Terms and Conditions for future reference.

1. Definitions
The terms used in these Additional Terms and Conditions are the same as those used in Our Relationship. The following additional definitions are used in this agreement.
1.1 "Bond" means a High Interest Fixed Rate Bond offered by us with a defined maturity date, which shall be considered to be a deposit for a fixed term. The interest rate, maturity date and other terms which relate to a particular Bond offered by us at any time will be made available to you on our website and / or a printed application form for the particular Bond offer we are offering.
1.2 "Bond Holder" means “you” any one of the individuals who have a Bond with us.
1.3 "Maturity Date" means the final day of the fixed term of the Bond as stated in our offer.

2. Opening a Bond
2.1 The fixed term of the Bond will commence on the date we receive cleared funds from you and will mature on the Maturity Date.
2.2 Bonds are available for the personal use of individuals who are UK residents, aged over 18 years of age and have satisfied our account opening procedures.
2.3 Bonds may be opened in joint names and all notices subject to the terms and conditions set out in Our Relationship.  All statements, communications and other information relating to the Bond will (unless we receive a written request from any other joint Bond Holder) be sent to your designated registered address set out in your application form. All joint Bond Holders will be bound by the contents of all such letters, statements and other material relating to the Bond.

3. Paying money into a Bond
3.1 The minimum and maximum deposit for the Bond is as defined in the terms of the Bond offering which is published at the time the offer is made.
3.2 Deposits may be made by transfer from a maturing Bond which was issued by us, a transfer from any account held by us, or by a cheque drawn in sterling on any UK bank made payable to “Raphaels Bank”.  No deposits in cash, or other means of payment will be accepted unless otherwise agreed with us.
3.3 Any cheques received that are post-dated will be returned to you. If, however, you do send us a post-dated cheque and it is inadvertently processed by us, we will not be liable to you for any costs incurred in its collection.
3.4 A Bond statement will be issued shortly after opening the Bond, shortly after the anniversary of the Bond and annually thereafter, and upon closure of the Bond.
3.5 We will make particular Bonds available only for a limited period which will be specified in our offer but notwithstanding we reserve the right to close the offer at any time.
3.6 We reserve the absolute right to refuse to accept a payment of any deposit for your Bond and refuse your application.

4. Operating your Bond
4.1 No withdrawals may be made from a Bond before the Maturity Date except in the specific circumstances set out in these Additional Terms and Conditions or Our Relationship.
4.2 You must check your statement carefully. If you think that there is any error you must advise us immediately so that we can correct any mistakes.
4.3 To prevent fraud, customers are reminded that all security information should never be written down.
4.4 It is essential that you contact the Customer Services Department at the Bank immediately on telephone number 01296 436661 as soon as you suspect that someone else knows your security information or when your personal details (or the details of any joint Bond Holder) have changed, including Your Registered Address or telephone number. If you fail to do so you may be liable for any loss or withdrawals. We may require evidence of a change of name (e.g. original
or certified copy of a marriage certificate) before we amend our records.
4.5 We are not obliged to recognise the interest or claim of any person other than a Bond Holder (or in the event of the death, their duly appointed personal  representatives, or in the event of illness, such persons as may be appointed pursuant to clause 4.6 below) in respect of funds held in your Bond. We will not be liable in any way for not recognising such an interest or claim except as and when required by law.
4.6 In circumstances where we are satisfied that you are unable to operate your Bond through infirmity or incapacity of a physical or mental nature, we will, subject to applicable rules and legislation, allow the operation of your Bond (including withdrawals) by a validly appointed third party or by way of a power of attorney (subject to any required registration requirements).
4.7 We may refuse to act on an instruction if for any reason we reasonably believe it was not given to us by or pursuant to the legally valid authority of a Bond Holder, or the instruction is ambiguous, or if it might cause us to break the law or any contractual duty, or we believe your Bond is being (or has been) used for an illegal purpose.

5. Interest
5.1 Interest will be calculated on a daily basis and at the fixed rate specified in the applicable Bond offering. Interest is earned at 1/365th of the annual rate for each day (or 1/366th for each day in a calendar leap year on the principal amount of your Bond.
5.2 Interest on your Account will be paid net of income tax at the prescribed rate unless each Bond Holder has completed and returned to us the appropriate HM Revenue & Customs documentation (on Form 85) to declare that the Bondholder is not liable to pay income tax, in which case your Account will be credited with gross interest. If gross interest is paid to you, but it later becomes apparent that interest should have been paid to you after the deduction of income tax, we will be entitled to recover any overpayment from your Account.
5.3 If you are entitled to receive gross interest on your Bond you should be aware that HM Revenue has imposed a limit on the value of a Bond with a maturity of more than twelve months, above which amount gross interest cannot be capitalised and added to the value of the Bond. Thus with respect to any Bond with a nominal value in excess of such limit all interest accrued thereon must be paid to another account.  In such cases we will request that you advise us to which account such interest should be paid.
5.4 An additional income tax liability may arise for individuals who pay income tax at higher rates. 5.5 Tax certificates are not issued automatically but will be provided on request subject to our charges.
5.6 Deposits made to open the Bond will start earning interest on the date that cleared funds are credited to the Bond.
5.7 Interest will be paid annually on the date specified in the initial Bond offering, and if this is a non-working day then on the next working day.
5.8 At your option in the application form or as subsequently instructed by you, interest will be credited to the Bond and be added to the principal amount, or alternatively be paid out to such bank account that you may direct. All requests or changes in your payment instructions must be made by you in writing and advised to us prior to the anniversary date of your Bond.

6. Closing a Bond
6.1 Prior to the Maturity Date, and if we decide to make a new issue of Bonds, we will write to you to give you the opportunity to invest all or part of the maturing value of your current Bond into any new Bond that we may offer, but we will only do so on your written application following a new Bond offering by us.
6.2 If (i) you decide not to reinvest any part of your Bond at maturity; (ii) we do not make a further Bond offering at such time; and / or (iii) you do not give us clear instructions as to whom the proceeds of the Bond should be paid, then on the Maturity Date, we shall place the maturing Bond funds into a “Bond Maturity Account” in your name pending your further instructions.
6.3 In exceptional circumstances we reserve the right to close your Bond without notice pursuant to our rights under Our Relationship.
.
7. Notices
All  notices or other communications to us required relating to your Bond must  be given to us in writing at Raphaels Bank, Walton Lodge, Walton Street, Aylesbury, Buckinghamshire HP21 7QY (unless otherwise agreed).