Terms and Conditions for Alhambra Bank and Trust
These Terms and Conditions (“Terms”) constitute a legally binding agreement between Alhambra Bank and Trust (“ABT,” “we,” “us,” or “our”) and the individual or entity (“Customer,” “you,” or “your”) accessing or using our banking and trust services. By utilizing any of our services, you acknowledge that you have read, understood, and agree to be bound by these Terms.
1. Services
Subject to these Terms, ABT will provide banking and trust services as outlined in your account agreement or service contract. Our services are governed by the Banks and Trust Companies Act of the Cayman Islands and are regulated by the Cayman Islands Monetary Authority (CIMA).
1.1 Banking Services
ABT offers a range of banking services, including but not limited to:
- “Processing” means any operation or set of operations performed on personal data, including collection, recording, organization, structuring, storage, adaptation or alteration, retrieval, consultation, use, disclosure by transmission, dissemination or otherwise making available, alignment or combination, restriction, erasure or destruction
• Current accounts
• Savings accounts
• Deposit accounts
• Cheque and order facilities
• Investment services
• Advances to customers
These services fall under the definition of “banking business” as per Section 2 of the Banks and Trust Companies Act.
1.2 Trust Services
- ABT provides trust services in accordance with the Banks and Trust Companies Act and other applicable Cayman Islands laws. Our trust services are subject to separate agreements and may include:
- • Trust formation and administration
• Asset management
• Estate planning
1.3 Service Limitations
ABT reserves the right to modify, suspend, or discontinue any service at any time without prior notice. We may also impose limits on certain features or restrict access to parts or all of the services without liability.
2. Account Registration and Security
2.1 Account Opening
To access our services, you must open an account with ABT. You agree to provide accurate, current, and complete information during the registration process and to update such information to keep it accurate, current, and complete.
2.2 Know Your Customer (KYC) and Due Diligence
In compliance with anti-money laundering (AML) regulations and the Anti-Money Laundering (Amendment) Regulations, 2024, ABT is required to conduct thorough customer due diligence. This includes:
• Verifying your identity
• Assessing and understanding money laundering, terrorist financing, and
proliferation financing risks
• Implementing appropriate policies and controls to mitigate identified risks
• Conducting enhanced due diligence for high-risk customers
2.3 Account Secu
You are responsible for maintaining the confidentiality of your account information, including your password. You agree to notify ABT immediately of any unauthorized use of your account or any other breach of security.
3. Compliance with Laws and
3.1 Regulatory Framework
ABT operates under the regulatory framework established by
• The Banks and Trust Companies Act
• The Monetary Authority Act
• The Development Bank Act
• The Anti-Money Laundering Regulations
• Other applicable Cayman Islands laws and regulations
4.6 Marketing and Communications Data
• Your preferences in receiving marketing from us and our third parties
• Your communication preferences
• Contents of emails, letters, or phone calls with our staff
3.2 Customer Obligations
You agree to comply with all applicable laws, regulations, and ABT policies when using our services. This includes, but is not limited to
• Anti-money laundering laws
• Counter-terrorist financing regulations
• Tax laws and reporting requirements
• Foreign exchange control regulations
3.3 Prohibited Activities
You may not use ABT’s services for any illegal purposes, including but not limited to
• Money laundering
• Terrorist financing
• Proliferation financing
• Tax evasion
• Fraud or any other criminal activities
4. Privacy and Data Protection
4.1 Data Collection and Use
ABT collects and uses personal information in accordance with our Privacy Policy and applicable data protection laws. We may use your information to
• Provide and improve our services
• Comply with legal and regulatory obligations
• Prevent fraud and enhance security
• Communicate with you about your account and our services
4.2 Data Sharing
We may share your information with
• Regulatory authorities, including CIMA
• Law enforcement agencies, when required by law
• Third-party service providers, subject to confidentiality agreements
• Other financial institutions for the purpose of facilitating transactions
4.3 Record Keeping
ABT maintains records of transactions, customer information, and other relevant data as required by the Anti-Money Laundering (Amendment) Regulations, 2024 and other applicable laws.
5. Fees and Charges
5.1 Service Fees
Fees for our services are outlined in our Fee Schedule, which is available upon request. We reserve the right to modify our fees with appropriate notice.
5.2 Payment Terms
Fees are due upon receipt of our invoice. Late payments may be subject to interest charges and may result in the suspension of services.
6. Liability and Disclaimers
6.1 Limitation of Liability
To the extent permitted by law, ABT’s liability for any claim arising from these Terms or our services shall be limited to the amount of fees paid by you for the relevant service in the 12 months preceding the claim.
6.2 Indemnification
You agree to indemnify and hold ABT harmless from any claims, damages, or expenses arising from your use of our services or violation of these Terms.
7. Termination
ABT reserves the right to terminate or suspend your account and access to our services at any time for any reason, including but not limited to violation of these Terms or applicable laws and regulations.
8. Governing Law and Jurisdiction
These Terms shall be governed by and construed in accordance with the laws of the Cayman Islands. Any disputes arising from these Terms or our services shall be subject to the exclusive jurisdiction of the courts of the Cayman Islands.
9. Amendments
ABT reserves the right to modify these Terms at any time. We will provide notice of significant changes through our website or direct communication. Your continued use of our services after such modifications constitutes acceptance of the updated Terms.By using ABT’s services, you acknowledge that you have read, understood, and agree to be bound by these Terms and Conditions.