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Update of Terms and Conditions Corporate Customers

Subject: overview of the main changes to the Terms and Conditions Corporate Customers (“Conditions”) of ICBC (Europe) S.A. Amsterdam Branch (the “Bank”) as of 1 February 2019

MiFID Client Classifications

Taking into account the Markets in Financial Instruments Directive (“MiFID”), which is a European directive that aims to protect investors, customers are classified into different categories which vary according to the extent and sophistication of their financial knowledge.

Payment Service Directive

The requirements under the second Payment Service Directive (“PSD2”) and all its laws under Dutch legislation have been incorporated into the Conditions.

Cash Services

No cash services will be provided related to the Payment Account.

Personal Data Processing

The provisions of the General Data Protection Regulation ("GDPR"), which has been directly applicable in the Netherlands from 25 May 2018, have been incorporated in the Conditions.

You are kindly requested to carefully read the new Conditions which are available at The new Conditions will be effective as from 1 February 2019. If you do not accept the relevant new Conditions, you should inform the Bank in writing before 1 February 2019. The Bank reserves the right to terminate the business relationship in case of the Customer’s objection to the new Conditions.

If you have any question on the Conditions, please contact your account manager.