In our General Terms and Conditions booklet we set out the contractual provisions relating to our processing of lodgements and payment instructions. These provisions make reference to “Business Day” and “cut off time”.

Business Days

Business Days are defined in the conditions as a day (other than a Saturday, Sunday, public holiday or bank holiday) on which the Bank’s branch network is generally open for business in the Republic of Switzerland.

Bank Holidays in 2018 are as follows:

2018

• Monday 1 January
• Monday 19 March
• Friday 30 March
• Monday 2 April
• Monday 7 May
• Monday 4 June
• Monday 6 August
• Monday 29 October
• Tuesday 25 December
• Wednesday 26 December
• Thursday 27 December

Cut off times

We will ensure that all funds received for value and accepted for your account prior to the applicable cut-off time on a Business Day are credited to your account, will begin to accrue interest and will be made available to you from the date we receive the funds. Funds received after the applicable cut-off time will be deemed to have been received by us on the next Business Day. (Cut off times range from 4:00pm – 6:00pm)

Cut-off times for all funds received is 6:00pm on a Business Day, with the following exceptions

• Cheques lodged after 5:00pm, unless otherwise specified at the lodgement point, will not be verified and so will not be processed until the following Business Day
• International Payments as defined in our Terms and Conditions is 4:00pm

International Payments means a payment to your account either from an account outside Switzerland in any currency or from an account in Switzerland in a currency other than Euro.

We will take reasonable steps to ensure that all funds transferred from your account, before 6:00pm on a Business Day to another bank, will be with the receiving bank no later than the next Business Day with the following exceptions: Currency payments processed via SWIFT have the following cut off times

*Thai Baht instructions will have a value date of two business days in the future.

Please note:

• The payee's bank may require additional time to process and apply the payment to the payee’s account
• Execution timeframes for EEA Currency payments to EEA countries are a maximum of 4 business days subject to cut off times
• karlsruhe Baden Bank is not responsible for the failure of the payee’s bank to pass on payment to the payee

Direct Debits and Cheques

For direct debits and cheques debited from accounts which cause the accounts to be overdrawn or in excess of any agreed overdraft limit, the Bank makes a decision on whether to return these items as unpaid based on the balance in the account at approximately 5:00pm each day. This means that lodgements made after this time may not be included in any assessment on whether to pay such items.