Terms and Conditions of New Gen
The following documents form an integral part of your contractual relationship with the Bank:
- General Banking Terms and Conditions
- Safe Custody regulations
- Data Privacy Statement
- Conditions for payment transactions
- Remuneration for the distribution of products and other services
- Summary of the prevention and management of conflicts of interest
- Best execution policy in the undertaking of Clients’ execution orders
- Basic conditions for e-Banking services
- Definitions and Digital Assets Risk Disclosure
- Brochure of the Swiss Banking Association on inactive assets
- Brochure on special risks for trading securities
- FinSA information brochure
List of authorized countries: Andorra, Argentina, Austria, Belgium, Brazil, Bulgaria, Canada, Chile, Colombia, Costa Rica, Croatia, Czechia, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Israel, Italy, Japan, Latvia, Lithuania, Luxembourg, Mexico, Netherlands, Norway, Peru, Poland, Portugal, Romania, San Marino, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, United Kingdom, Uruguay.
In addition to the aforementioned terms and conditions, we would like to inform you about the special terms applicable to the “New Gen Service”. In case of conflict between the applicable terms and conditions and the Terms of Service New Gen Account, the Terms of Service New Gen Account shall prevail.
1. Financial service
Unless otherwise agreed in writing between you and the Bank, the Bank’s financial service is limited to the receipt and transmission of orders in relation to financial instruments and digital assets.
The fact that the Bank agrees to execute a transaction does not mean that the Bank recommends that transaction or considers that transaction to be suitable taking account of your personal situation. The Bank does not examine the appropriateness and suitability of the transactions that you initiate, unless required by law. The Bank does not intend to provide investment, legal or tax advice, and does not analyze whether the transaction is suitable for you. Your investment decisions shall be based exclusively on your own assessment of your financial situation and your investment goals, as well as on your own personal interpretation of the information available. You are solely responsible for such decisions.
You shall carefully review your personal (in particular financial and tax) situation, tolerance for risk, investment goals, and other relevant circumstances in order to assess whether purchasing or selling any asset, including digital assets, is suitable for you. You must only invest in assets that you can afford to lose without having to change your standard of living, and you will cease using the Services if your personal situation no longer permits it. You understand that this type of transaction might not offer regular or safe returns.
2. Initial deposit
The initial deposit in your Account must come from an account held in your name at another financial institution in a country on our list of authorized countries. The Bank can define a minimum amount to be initially deposited for your New Gen Account. That minimum amount will be communicated by appropriate means and initial deposits under the established amount will be rejected. The rejection can be subject to an administrative fee. The Bank reserves the right to reject any incoming payments or transfers at its sole discretion.
The Bank has defined 250,000 Swiss francs (CHF), euros (EUR) or US dollars (USD) as the maximum amount to be kept on deposit in the New Gen Account. If the balance of your New Gen Account exceeds the maximum amount allowed, the Bank will notify you. You will have 30 days from the day following receipt of the notice to request that your New Gen Account be converted to an International Private Banking Account while retaining the same economic conditions and special rates that were applied to your New Gen Account. If the Bank does not receive a request to change the account treatment within 30 days, your New Gen Account will be treated as an International Private Banking Account. As a result, the standard economic conditions and fees corresponding to the International Private Banking segment will apply.
The Bank may, at its discretion and at any time, modify the minimum amount of the initial deposit or the maximum amount to be kept on deposit in the New Gen Account. The Bank shall communicate any modifications through appropriate means, such as by publishing it on the Bank's website www.bbva.ch
3. Payments
The Bank’s e-banking service or Mobile App (the “System”) will allow you to perform direct as well as indirect payments. Direct payments can be introduced and executed without the Bank’s intervention and are limited to a certain amount and a monthly maximum. For your own safety, payments exceeding the established limits for direct payments will require the Bank’s intervention in order to be executed. Indirect payments must therefore be requested through the Bank’s messaging service in the System. The approval of such requests is at the Bank’s sole discretion and only possible from Monday to Friday during the usual Bank opening hours. The Bank shall not be liable for any damages resulting from any delay. The execution of indirect payments is limited to accounts you hold in your name at other entities, so indirect payments may not be made to third parties. Different fees for direct and indirect payments can apply.
Any established thresholds or limits shall be published in the System or communicated by appropriate means. The “Conditions for payment transactions” apply.
4. Transfers and trades
Securities transfers
The transfer of securities to and from other financial institutions is limited to other accounts you hold in your name in a country of our list of authorized countries and transfers to and from third parties are therefore not possible. Outgoing security transfers have to be requested through the messaging service in the System and are subject to the Bank’s approval. When you have initiated a transfer at another financial institution to your New Gen Account at the Bank, you must notify the Bank through the System. The approval of such requests is at the Bank’s sole discretion and are subject to the usual Bank opening hours.
The Bank’s Safe Custody Regulations apply.
Order placement and execution
You may introduce transactions with financial instruments through the Bank’s Online Trading Service available in the System. The service is available for different types of financial instruments, such as equities, ETFs and funds, among others. The Bank may reduce or expand the range of the offered financial instruments at any time and at its sole discretion.
The Bank’s Online Trading Service allows you to introduce different types of orders such as market and limited orders. The Bank is working constantly to improve the service. New types of orders might be introduced, and existing types might be interrupted or discontinued at the Bank’s sole discretion.
The Bank is not responsible for any losses, expenses, costs or liabilities incurred by you as a result of instructions given, or communications sent through the System. The Basic conditions for e-banking services and the General Banking Terms and Conditions apply.
The Bank may limit the possibility of introducing orders using the Online Trading Service during certain trading hours. Even during the Bank’s established trading hours, the Online Trading Service may not be available 24 hours a day. Whether or not you can trade certain financial instruments might depend, among other things, on the trading days and hours of financial centers, public holidays, the working hours of trading centers and any of the services provided by the Bank or any other party, such as brokers.
Trading hours for financial instruments can vary according to the market and financial instrument or product. Any changes to the trading hours will be communicated by appropriate means such as publishing these on the Bank’s website www.bbva.ch or through the System.
Trading financial instruments that are not yet available in the System
If you are interested in trading in financial instruments that are not currently available in the Bank’s Online Trading Service, you can request to make a specific financial instrument available for trading through the messaging service in the System. In order to process the request, you need to provide the Bank with certain information on the financial instrument such as: Name of the financial instrument, ISIN, Stock Exchange, Symbol and/or CUSIP. The Bank might take up to 48 working hours after receiving your request to inform you whether it is possible to handle your request. Whether or not the specific financial instrument is made available to trade is at the Bank’s sole discretion. The Bank will notify you through the messaging service in the System once your request has been reviewed.
Corporate actions
Corporate actions are events by a company that can bring changes to the securities issued by the company. Your attention in these cases is required, as some events allow shareholders or bondholders to vote. Examples of corporate actions include mergers and acquisitions, rights of issues, stock splits or dividends, among others.
In case a financial instrument you hold on your account is affected by a corporate action, you will receive a notification through the System, which you will be able to respond under the section “Corporate Actions.” The Bank will only perform any acts such as conversions, the purchase or sale of subscription rights, accepting or declining public takeover bids, etc., upon your instruction. If instructions are not received in due time, the Bank has the right but not the obligation to proceed as the Bank deems appropriate.
The Safe Custody Regulations, which are an integral part of the agreement between you and the Bank, apply.
Automatic FX exchange
Financial instruments are usually traded in a single base currency. In case of buying or selling an instrument with a different base currency than the one available in your account, an automatic currency exchange will be performed (“Auto FX exchange”). For any such Auto FX exchange triggered, the exchange rate for the concerned currencies will be calculated by the Bank, at the moment of the introduction order. However, the final exchange rate can differ substantially until the transaction is actually executed and settled. Delays in executing and settling the transactions are possible due to different factors (i.e., operating hours, calendar holidays, etc.). The Bank is not responsible for any losses, expenses, costs or liabilities incurred as a result of the introduction of any orders.
Digital Assets
The transfer of digital assets to and from your Digital Asset Account at the Bank is not possible. The service offered by the Bank will only allow you to buy and sell digital assets, including the custody of the same, as established in the agreement between you and the Bank.
Confirmations
Confirmations of the transactions carried out are sent to you through the System and can be found under “Documents”. Should you note a difference between the operation concluded through the Online Trading Service and the confirmation received, you must notify the Bank immediately upon receipt of the confirmation, and no later than 48 hours from the conclusion of the operation. If the Bank does not receive any objection without undue delay, the confirmation is considered to have been received and accepted.
Data and information
Data and prices displayed in the System are not representative. When viewing order quotes you cannot consider them binding. The price displayed for a certain financial instrument might not be the final execution price. The Bank is not liable for any inaccuracies in the data transmitted, especially the correctness, accuracy or completeness of the same.
Technical maintenance
The Bank periodically performs technical maintenance of its systems, during which time, access to the System or to the Bank’s website may not be possible, and it may also not be possible to carry out transactions and other operations. The Bank may notify you in advance of any planned maintenance work through appropriate means such as publication on its website www.bbva.ch
Claim process
Any claim must be sent to the Bank through the messaging service in the System without undue delay.
Support
The customer support is offered by the Bank from Monday to Friday between 9:00 and 17:00 CET and the operative support is available from Monday to Friday between 9:00 and 17:00 CET.
In case you are unable to introduce an order through the System, the Bank offers the possibility to place orders by email or by telephone from Monday to Friday between 9:00 and 17:00 CET. Please note there is a surcharge for these orders via our support desk. The contact information is published in the System.
5. Loan and Credit Line Request
The New Gen contract between you and the Bank allows you to enter into leveraged transactions, where the requirements established by the Bank are met. If you are interested in requesting a credit line for this purpose, you can contact the Bank through the messaging service in the System. The Bank will calculate margin requirements on an Account basis and determine whether you are able to enter into leveraged transactions and the required margin to do so. The Bank will determine the minimum margin required at its sole discretion, using its own methodology. Margin requirements are subject to change at any time without prior notice.
6. Fees
The fees applicable to the Services are published in the System.
In addition to standard or agreed upon interest and commissions, the Bank shall also debit the Client for its actual disbursements. The Bank reserves the right to charge the Client retroactively for any expenses whatsoever, such as taxes and fees levied in connection with transactions made on behalf of the Client in or outside Switzerland or which may be incurred after closing of the account statement. Any taxes or charges that are levied at or by the Bank in connection with the business relationship between the Client and the Bank or that the Bank must withhold on the basis of Swiss law, treaties or contractual agreements with foreign authorities (e.g. 30% withholding tax pursuant to the US Foreign Account Tax Compliance Act, FATCA), as well as the charges incurred at the Bank, are to be borne by the Client and/or may be passed on to the Client.
A cash deposit fee may also be charged.
7. Customer Data Modification
For the duration of the contractual relationship with the Bank, you undertake to notify the Bank within 30 days on your own initiative, if a change in circumstances makes any information you have provided the Bank with incorrect. You can use the messaging service provided by the Bank and notify any change through the System.
8. Account closure