The way we describe our banking services

We want to make sure that the words and terms we use in our application forms, Terms and Conditions and product and service information are easy to read and understand. The following glossary provides a helpful guide to the terms we frequently use and their meanings.

You should check the Account Terms and the CAF Bank General Terms and Conditions on a regular basis to confirm you are happy with the services being provided to you.

Term Definition

Access code

A code, made up of numbers, given by us to the Cardholder to allow the Cardholder to activate the Card and access the PIN.
Account Any Bank Account that you hold with us.
Account Contact The person assigned by you to be the first point of contact between you and us. The Account Contact does not have to be a signatory on the Account. This person will also be your Primary User. See also Primary User.
Account Terms The Terms and Conditions (that are additional and separate to the CAF Bank General Term and Conditions) relating to your Account.

Agency Bank

A bank that does not process payments itself and uses another bank to process the clearing of payments. See also Clearing Bank.
Application Documentation The application form and any other documents requested by us for the opening of an Account.
Arranged Overdraft An agreed limit that lets you spend more money than you have in your current Account. The maximum amount is determined by us and there is normally a charge to use this service as set out in our Tariff of Charges.

Bacs Transfer

An electronic money transfer between banks which normally takes three working days.
CAF Bank UniqueCode Passcode generated on the CAF Bank App or sent to you by text message to use as two-factor authentication for the Online Service.
CAF Group Our parent organisation, Charities Aid Foundation (registered charity number 268369) or any of its subsidiaries, associated and affiliated companies.
Card A CAF Bank Mastercard® Business card which is linked to your CAF Cash Account.
Cardholder A person nominated by you to receive and use a Card to make Transactions on behalf of the organisation.

Card Transactions

Purchases, Payments and cash Withdrawals made using the Card.

CHAPS Transfer A same-day transfer between banks that can be used for large amounts of money. There is normally a charge for a CHAPS payment as set out in our Tariff of Charges.
Clearing Bank A bank which we use to process all our payments for us. See also Agency Bank.
Controlling Persons The natural person exercising control over the corporation, organisation, partnership, trust, foundation, or other entity. This includes anyone exercising ultimate effective control over the entity (including any natural person holding directly or indirectly (solely or in connection with others) 25% or more of the voting rights or shares. If no such person(s) exist(s), then it includes any natural person who exercises control over the management of the entity (e.g., the senior management official). In the case of a trust, controlling persons could include the settlor, the trustees, or the beneficiaries, including persons holding equivalent roles irrespective of title.
Credits Payments into your Account.
Data Protection Legislation The United Kingdom laws and regulations that aim to safeguard the privacy and security of personal data.
Deposit A sum of money paid into the bank Account.
Direct Debit An instruction you give to us that authorises a company to take Payments from your Account when they are due. The amount may vary but the organisation must let you know if the amount changes.
Direct Debit Guarantee Scheme A guarantee which protects you in the event of an error with your Direct Debit payment. This is normally used when the organisation you are trying to pay changes the date, amount or frequency without notifying you before the funds come out of your Account. We may need to review the Transaction before activating the guarantee.
European Economic Area (EEA) All member states of the European Union, plus Iceland, Liechtenstein, and Norway.
Faster Payments A payment system that banks use to transfer money within the UK. The timescales for these Payments are set out in Condition 4.29. These can be requested using the Online Service and are sent as electronic transfers.
Group Payment A list of payees can be created to make payments using the Online Service, for example payroll.
High Volume Cash Transactions Refer to the Tariff of Charges.
High Volume Cheque Transactions Refer to the Tariff of Charges.
HSBC HSBC Bank plc, a company incorporated in England and Wales under number 14259. HSBC is authorised and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under number 114216.

Individuals

Signatories, trustees, Account Contact, online users and Cardholders or any other persons who are authorised by you to operate the bank Account.

Insolvency Events Any event where:
- You stop or delay payment of your debts or are regarded as being unable to pay your debts; or
- Any step, application or proceeding is taken by or against you for:
  - The dissolution, winding up or bankruptcy of your organisation; or
  - The appointment of a receiver, administrative receiver, administrator, or similar officer to you or over all or any part of your assets or undertaking.
- You are a partnership, and this partnership is dissolved or joins or merges with another partnership;
- You negotiate with any of your creditors to readjust or reschedule your debts, ask to enter a voluntary arrangement, or enter an arrangement which benefits any of your creditors;
- You stop or delay or threaten to stop or delay all or a substantial part of your operations as a business.
- Any event occurs which, under the applicable law of any jurisdiction, has an equivalent to any of the events mentioned above.

In Writing

We will contact you by email, text message, letter, secure e-messages, or any other method of written communication. This includes messages on our website or with the Statements for your Account.

Mandate This tells us who you would like to give access to your Account and who has the right to operate it.
Nominated Account An account in your organisation’s name, held with another bank. You provide us with the details of this account to allow for Payments to be made without providing these details every time.
Online Service Accessing information and services relating to your Account by logging in to our website (https://secure.cafbank.org/). You need to be registered for this service and we will provide you with your Security Details.
One Time Passcode (OTP) A number which is normally sent to you by text message to authorise Payments.
Payee The person or firm you would like to pay.
Payments Sending money to another account in or outside of the UK and making Card Transactions in pound sterling or foreign currency using the Card.
Payment Device A Card, an electronic wallet or any other device or software that you can use on its own or with your Security Details to access your Account or give instructions.
Primary User The main user who has access to your Account using the Online Service. This person is responsible for letting us know of changes which may affect other users of the Online Service and includes removing user(s) who are no longer authorised to access the Online Service.
Post Office A company registered in England and Wales under number 2154540. Registered address: 100 Wood Street, London, EC2V 7ER.
RBS The Royal Bank of Scotland plc, a company incorporated in Scotland under number 90312. RBS is authorised and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under number 121882.
Secondary User Any additional user you have authorised to have access to your Account using the Online Service.
Security Details Details that are unique to you which we have provided you, or those you have chosen, to allow you to use your Account in a secure way. Some examples are:
- The User ID, password, unique word, and CAF Bank UniqueCode used for our Online Service;
- The telephone password and/or additional security information we may request from you to process any transactions on your Account;
- The signatures on any written instruction, including cheques, you provide to us;
- The use of a Card, Access Code, personal identification number (PIN), and One Time Passcode; and
- Any other security requirements we may notify you of from time to time.
Single Immediate Payment Payments which are credited more quickly to the payee’s account than other forms of Faster Payments. The charge for this type of Payment is set out in our Tariff of Charges.
Statement A document showing all the Payments into and out of the Account, including the date of Transactions; details of the sender/recipient and any references where these are given. Additional information such as opening balances, closing balances, charges, and interest is also shown on your Statement.
Standing Order A regular Payment of an exact amount that you set up and is paid on a specified date. You can change or stop a Standing Order at any time by contacting us in writing.
SWIFT A way of making a Payment using pound sterling from the UK to another country or Payments in a currency other than pound sterling.
Tariff of Charges A list of charges which are payable and can be viewed at Tariff of Charges, as amended from time to time.
Telephone Banking Service Accessing information and certain services relating to your Account by telephone. You need to be registered for this service which includes setting up Security Details. The Account Contact will be the Primary User for this.
Text Alert The feature of our Online Service which sends an SMS message to a UK mobile number registered with us.
Transactions Credits and Withdrawals from your Account.
Value Date The date a Payment is posted to your Account.
Withdrawals These can be made from your Account in the following ways:
- Cash withdrawals at ATMs (both in and out of the UK);
- Card Transactions;
- Writing a cheque;
- Payments using our Online Service; Telephone Banking Services or sending a request to us in writing, and
- Electronic payments such as standing orders and direct debits
Working Day Any day which is not a Saturday, Sunday or English public or bank holiday.

CAF Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register number: 204451).

CAF Bank Limited Registered office is 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ. Registered in England and Wales under number 1837656.