New ver­sion of Lands­bankinn’s Gen­er­al Terms and Con­di­tions

Landsbankinn has published a new version of its General Terms and Conditions. This new version includes amendments to provisions on the processing of personal data, money laundering and terrorist financing, corporate online banking and payment cards.
15 March 2019

Landsbankinn has published a new version of its General Terms and Conditions. This new version includes amendments to provisions on the processing of personal data, money laundering and terrorist financing, corporate online banking and payment cards. Terms and conditions for credit cards have been incorporated into the General Terms and Conditions. The new Terms and Conditions apply to new customers as of 15 March 2019 and to current customers as of 15 May 2019.

Main changes to the General Terms and Conditions are:

A. Processing of personal data and measures to combat money laundering and terrorist financing.

  1. Provisions pertaining to the processing of personal data are incorporated in the chapter on general provisions applying to the business relationship.
  2. Provisions pertaining to the Bank’s authorisations to process personal information are clarified. This refers, inter alia, to the addition of provisions about instructions on:
  3. A new provision is included on the responsibilities and obligations of customers who receive information that does not pertain to the recipient.
  4. Real (beneficial) owners of legal entities are required to provide proof of identity upon entering into a business relationship.

B. Payment cards and corporate online banking:

  1. The terms and conditions for debit and credit cards have been merged as chapter 5 of the Terms and Conditions, “Payment Cards”. General provisions for payment cards (both debit and credit cards) are in sub-chapters 5.1 to 5.4, with provisions specific to credit cards in sub-chapter 5.5.
  2. This change renders null and void Landsbankinn’s Terms and Conditions for Visa Credit Cards and Landsbankinn’s Terms and Conditions for MasterCard Credit Cards.
  3. Provisions pertaining to corporate online banking are clarified. Provisions have been removed that pertain to application for corporate online banking, company contacts, employees and their authorisations, and various obligations to notify about the revocation of employee access and maximum transfer authorisations. Provisions are added pertaining to the obligations of the person authorised to sign for a company, users’ obligations to familiarise themselves with the General Terms and Conditions and managing directors or authorised signatories given the authority of access manager, unless the company assigns that role to another person.

In accordance with the Act on Payment Service, current customers may notify the Bank of termination of the master agreement on payment services prior to 15 may 2019, should they not wish to approve these amendments. Current customers are considered to have approved changes if they do notify the Bank otherwise prior to 15 May 2019.

You may also be interested in
Höfuðstöðvar Landsbankans í Austurstræti
22 Sept. 2023
Last day in Austurstræti
Today is the last day the Landsbankinn branch in Austurstræti 11 is open and the doors close at 16:00. All activities move to the Bank’s new branch in Reykjastræti 6, which is already open.
Reykjastræti
21 Sept. 2023
Reception of Danish bank notes
Customers can buy Danish bank notes in Landsbankinn branches and ATMs throughout Iceland. We would like to advise customers that the Bank no longer accepts DKK 1,000 and 500 bills, nor any Faroe Islands króna bills. There are no changes to transactions in DKK 200, 100 and 50 bills. Cash transactions comply with the Act on Actions to Combat Money Laundering and Terrorist Financing. Tighter rules in Denmark limit the reception of bank notes by foreign banks and Landsbankinn is as a result no longer able to accept DKK 1,000 and 500 bills.
Grænland
21 Sept. 2023
Landsbankinn Corporate Finance co-ordinated uplisting of Amaroq to the Nasdaq Iceland Main
Amaroq Minerals, under the ticker AMRQ, has now been listed on the Main Market of Nasdaq Iceland. In addition to listing on the Nasdaq Iceland Main Market, Amaroq’s shares are listed on stock exchanges in Canada (TSX-V) and London (AIM). Alongside uplisting to the Main Market of Nasdaq Iceland, Amaroq has been delisted from First North Iceland. Amaroq Minerals is the first listed mining company in Iceland. The company holds a significant licence portfolio in Greenland and is engaged in the identification, acquisition, exploration and development of gold properties and other strategic mineral assets, pivotal to the energy transition. Landsbankinn Corporate Finance co-ordinated the listing process. We congratulate the staff and shareholders of Amaroq on the successful transfer of the company’s listing.
Tölva á vinnuborði
14 Sept. 2023
Updates to the RSA app - new name and icon
We’d like to call your attention to changes to the RSA SecurID app used for secure login and payments in corporate online banking.
Reykjastræti
13 Sept. 2023
Branch opening in Reykjastræti
The branch at our new headquarters in Reykjastræti 6 opens today. Cashier services are available from 10:00-16:00 and ATMs and other self-service equipment is accessible around the clock.
Sunna Ósk Friðbertsdóttir
12 Sept. 2023
Sunna Ósk Friðbertsdóttir new Landsbankinn Compliance Officer
Sunna Ósk Friðbertsdóttir has taken up the position of Compliance Officer at Landsbankinn. Sunna completed a BA degree in law from Reykjavík University in 2008 and an ML degree from the same institution in 2010. She is a licensed securities broker and a recognised District Court Attorney. Sunna came to work for Landsbankinn as a lawyer in 2012 and has had various responsibilities, both in implementing legal requirements and related to daily operations. She has worked in Compliance since 2017 and been Deputy Compliance Officer since 2022. Compliance supervises and monitors Landsbankinn’s compliance with internal and external rules and advises and educates on legal and regulatory demands relevant to the Bank’s operation.
New temp image
31 August 2023
Landsbankinn changes interest rates
In light of the recent interest rate decision of the Central Bank of Iceland, the following changes will be made to Landsbankinn’s interest rates. Interest rate changes also have regard for market rates and other funding terms of Landsbankinn.
Screenshot of fraudulent message
31 August 2023
Beware of fake text messages - do not open the link
This is a warning concerning a fake website made to look like that of Auðkenni and which includes a fraudulent connection to Landsbankinn.
23 August 2023
Shorter opening hours in 7 branches - service hours remain unchanged
On 13 September, the opening hours of seven branches will be shortened by three hours and will as a result be 12:00-15:00. While general opening hours will be shorter, customers can still make appointments to visit these branches between 10:00-16:00 and book remote meetings until 18:00, meaning that actual service hours remain unchanged. ATMs are accessible around the clock in all these locations.
Myndlistarsýning
18 August 2023
Cyclical– art exhibition opens in Austurstræti 11 on Reykjavík Culture Night
A new exhibition of art from Landsbankinn's collection will be opened in the event of Reykjavík Culture Night in the Bank’s branch at Austurstræti 11. The exhibition is titled Cyclical and is curated by Daría Sól Andrews.
Cookies

By clicking "Allow All", you agree to the use of cookies to enhance website functionality, analyse website usage and assist with marketing.

More on cookies