eligible body (eb) monthly dowry report

5
ELIGIBLE BODY (EB) MONTHLY DOWRY REPORT As per Clause 3.19 of the Incentivised Switching Agreement, each Company is required to complete this report and submit it to Banking Competition Remedies Limited (BCR) within five Business Days of the end of each Assessment Period. This report is due monthly from the beginning of July 2019. Please complete this report and upload it to the data room. Please ensure that the data in this report does not include customers names or any other personal customer details. This report should be used in conjunction with the ISS Reporting Guidance. See the end of this document and the ISS Reporting Guidance for definitions of key terms. Company Name: Company Registered Number: Assessment Period (MM-YY): Date of Submission: Monthly Summary: Please provide in the tables below: The proportion (£) of the relevant Dowry payment that has been paid directly (as cash), to Transferring Target Customers during the relevant Assessment Period. The proportion (£) of the relevant Dowry payment that has been given directly (direct incentives other than cash), to Transferring Target Customers during the relevant Assessment Period. The proportion (£) and brief explanation of how any remaining amounts of the Dowry payment have been applied for the benefit of Transferring Target Customers. The proportion (£) and brief explanation of any dowry unable to be used for the benefit of Transferring Target Customers.

Upload: others

Post on 20-May-2022

1 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: ELIGIBLE BODY (EB) MONTHLY DOWRY REPORT

ELIGIBLE BODY (EB) MONTHLY DOWRY REPORT

As per Clause 3.19 of the Incentivised Switching Agreement, each Company is required to complete this report and submit it to Banking Competition Remedies Limited (BCR) within five Business Days of the end of each Assessment Period. This report is due monthly from the beginning of July 2019.

Please complete this report and upload it to the data room.

Please ensure that the data in this report does not include customers names or any other personal customer details.

This report should be used in conjunction with the ISS Reporting Guidance.

See the end of this document and the ISS Reporting Guidance for definitions of key terms.

Company Name:

Company Registered Number:

Assessment Period (MM-YY):

Date of Submission:

Monthly Summary:

Please provide in the tables below:

The proportion (£) of the relevant Dowry payment that has been paid directly (as cash), to Transferring Target Customers during the relevant Assessment Period.

The proportion (£) of the relevant Dowry payment that has been given directly (direct incentives other than cash), to Transferring Target Customers during the relevant

Assessment Period.

The proportion (£) and brief explanation of how any remaining amounts of the Dowry payment have been applied for the benefit of Transferring Target Customers.

The proportion (£) and brief explanation of any dowry unable to be used for the benefit of Transferring Target Customers.

Page 2: ELIGIBLE BODY (EB) MONTHLY DOWRY REPORT

BCR DOWRY

PAYMENT

TOTAL AMOUNT OF

RELEVANT DOWRY

PAYMENT (£X.XX)

PROPORTION (£X.XX) OF THE

RELEVANT DOWRY

PAYMENT PAID DIRECTLY

TO CUSTOMERS (AS CASH)

PROPORTION (£X.XX) OF THE

RELEVANT DOWRY

PAYMENT GIVEN DIRECTLY

TO CUSTOMERS

(INCENTIVES OTHER THAN

CASH)

PROPORTION (£X.XX) OF THE

RELEVANT DOWRY

REMAINING AMOUNTS APPLIED FOR THE BENEFIT OF

CUSTOMERS

PROPORTION (£X.XX) OF THE

RELEVANT DOWRY UNABLE

TO BE USED TO BENEFIT

CUSTOMERS

Payment 1 - Jun-19*Payment 2 - Sep-19*Payment 3 - Dec-19*Payment 4 - Mar-20*Payment 5 - Jun-20*Payment 6 - Sep-20*Payment 7 - Dec-20*Payment 8 - Mar-21*Payment 9 - Jun-21*Payment 10 - Sep-21*

Page 3: ELIGIBLE BODY (EB) MONTHLY DOWRY REPORT

BCR DOWRY

PAYMENT

EXPLANATION OF HOW REMAINING AMOUNTS APPLIED FOR THE BENEFIT OF CUSTOMERS

EXPLANATION OF RELEVANT DOWRY UNABLE TO BE USED TO BENEFITCUSTOMERS

Payment 1 - Jun-19*

Payment 2 - Sep-19*

Payment 3 - Dec-19*

Payment 4 - Mar-20*

Payment 5 -Jun-20*

Page 4: ELIGIBLE BODY (EB) MONTHLY DOWRY REPORT

BCR DOWRY

PAYMENT

EXPLANATION OF HOW REMAINING AMOUNTS APPLIED FOR THE BENEFIT OF CUSTOMERS

EXPLANATION OF RELEVANT DOWRY UNABLE TO BE USED TO BENEFITCUSTOMERS

Payment 6 - Sep-20*

Payment 7 - Dec-20*

Payment 8 - Mar-21*

Payment 9 - Jun-21*

Payment 10 - Sep-21*

*Dependent on when BCR make the Dowry payments

Page 5: ELIGIBLE BODY (EB) MONTHLY DOWRY REPORT

DEFINITIONS:

“Assessment Information”, Clauses 3.19(A) and (B), together with Clauses 3.18(A) to (C) of the Incentivised Switching Agreement; (Incentivised Switching Agreement)

“Assessment Period” means a full calendar month; (Incentivised Switching Agreement)

“Dowry” means an amount of the Incentivised Switching Fund which may be distributed by the Independent Body to an Incentivised Switching Beneficiary who has entered into an Incentivised Switching Agreement in respect of any Transferring Target Customers in accordance with the Dowry Calculation Schedule; (Incentivised Switching Terms & Conditions)

“Target Customer” means a customer of RBS (or a subsidiary of RBS) within the Perimeter as at the date on which the Independent Body first marketed Incentivised Switching to any Applicant Company (or such later date as may be specified in the Dowry Calculation Schedule) which is an SME; (Incentivised Switching Terms & Conditions)

“Transferring Target Customers” means a Target Customer that closes its Primary Account(s) with RBS and has opened a BCA with an Applicant Company; (Incentivised Switching Terms & Conditions) i.e. the customer has successfully switched their account.

DISCLAIMER:

The Company shall provide to BCR evidence to BCR satisfaction in support of the Assessment Information and such other information as BCR may reasonably request.

The Company represents and warrants (on the date of this Agreement and on each date on which any Assessment Information and/or supporting evidence is provided by the Company to BCR), that the Assessment Information and any evidence provided by the Company to BCR in support of the Assessment Information is true, accurate and complete and not misleading. (Incentivised Switching Agreement)

This template is designed to standardise the provision of the reports and should not be altered by the Company unless specifically indicated in the template. BCR may

however change this report template at any time.

Any variance to the above may result in BCR rejecting this report.

For any queries please contact [email protected] via your ISS data room or see the BCR website FAQ.