2. Service offering

The Bank makes Multibanking available to its clients and their authorised persons (hereinafter referred to as “Users”) via E-Banking or the Banking app. Multibanking enables Users to receive data from external service providers such as third-party banks or pension schemes (hereinafter referred to as “Third-Party Banks”) or to instruct the Bank to send data to Third-Party Banks.

3. Scope of exchanged data

a) Recieving

Multibanking enables the Bank to display and categorise balances and transactions for accounts held with Third-Party Banks. Transactions are automatically assigned to specific categories that are essentially based on the data associated with incoming and outgoing payments. Users can create their own criteria for automatic assignment to the categories and assign them differently. Accounts will only be linked via Multibanking if the User is a beneficial owner or authorised person. Users adding a Third-Party Bank account require E-Banking access credentials from the Bank as well as corresponding access credentials from the Third-Party Bank. When using Multibanking, Users are responsible for adhering to the Third-Party Bank’s conditions.

b) Sending

If a Third-Party Bank offers Multibanking, the Bank is entitled to make the User’s data available to the User’s chosen Third-Party Bank. The User agrees that data for their own accounts as well as accounts for which they are the authorised person will be made available and the User confirms receipt of the necessary authorisations and consents. In addition, the User acknowledges that the Bank cannot assume any responsibility for correct transmission and display by the Third-Party Bank. It should also be noted that the displaying of data by the Third-Party Bank is not part of these Conditions of use and is instead subject to the Third-Party Bank’s conditions.

4. Access / identify verification for Multibanking

Access to the Bank’s Multibanking service will be granted to persons authenticating themselves using the procedure provided by the Bank for E-Banking or the Banking app. For information on access and identity verification for E-Banking and the Banking app as well as on the execution of instructions, please refer to the conditions for E-Banking or the Banking app, respectively. In particular, Users are responsible for complying with all security-related requirements when entering and storing their access data.

5. Exchange of data with Multibanking – how it works

Data is exchanged between the Bank and Third-Party Banks via the “bLink” open banking platform operated by SIX Group Services AG. During the Third-Party Bank’s activation process, the Bank receives an electronic identification key for the User. The Bank will link this identification key to the User’s valid authentication means for E-Banking or the Banking app.

6. Multibanking security

The Bank and other service providers involved as well as the platform take appropriate security measures. Nonetheless, it is not possible to guarantee absolute security for Users. In addition, Users are responsible for taking the necessary security precautions in regard to their terminal device in order to protect them from unauthorised access. The Bank accepts no liability for losses incurred by Users as a result of inadequate security precautions in regard to their terminal device.

7. Liability of the Bank

The Bank does not guarantee the accuracy and completeness of data provided for Users via Multibanking, in particular regarding balances, transactions, etc. Furthermore, the Bank accepts no liability for losses incurred by Users as a result of transmission errors, technical defects, system overload, interruptions (including system-related maintenance work), disruptions, illegal interventions or due to other shortcomings of the data transmission infrastructure and network operator.
Provided the Bank has exercised the degree of due diligence usual in banking transactions, it shall not be liable for the consequences of disruptions or interruptions – particularly in relation to processing – that affect the Bank’s Multibanking service (specifically those caused by illegal interference in the Bank’s systems). If it detects security threats, the Bank reserves the right to interrupt all or individual Multibanking services for the protection of the User at any time until such threats have been alleviated. The Bank does not accept liability for any potential losses occurring as a result of such interruptions. The Bank excludes all liability for losses incurred by Users as a result of their failure to fulfil their obligations towards third parties and for indirect or consequential damages such as loss of earnings or third-party claims. The Bank shall not be liable for losses resulting from minor negligence caused by its agents in the exercise of their duties.

8. Data use / marketing purposes

The Bank shall inspect data received from the Third-Party Bank, in particular regarding regulatory requirements and statutory duties of inspection. However, this data may also be evaluated and used for marketing purposes. Further information on the processing of data is contained in the Bank’s data privacy statement, which can be viewed at www.zugerkb.ch/en/data-protection-for-clients.

9. Billing of fees

The Bank is entitled to charge fees for Multibanking. The current conditions are based on published lists and brochures.
The Bank points out that the third-party service provider may charge the User additional fees for the provision of services.
The Bank reserves the right to adjust its price list at any time, specifically in the event of any change in market conditions or on other objective grounds. Changes will be made in good faith and communicated to the Client in advance and in an appropriate manner.
The Bank has the right to deduct the prices charged directly from the client’s account.

10. Ending the exchange of data

Any User wishing to end the Bank’s exchange of data with their chosen Third-Party Bank must revoke this directly with the Third-Party Bank. In this case, the Bank will cease exchanging data once it has been notified by the Third-Party Bank and will delete the data received, subject to its documentation and archiving obligations.

11. Termination

The Multibanking function may be terminated in writing by either party at any time. It can also be terminated within E-Banking or in the Banking app via deactivation of the Multibanking function. Data will no longer be exchanged following termination and data held by the Bank will be deleted from the database, subject to the Bank’s documentation and archiving obligations.

12. Changes to the Conditions of use

The Bank may change, restrict or discontinue the Conditions of use and / or the scope of Multibanking services at any time at its own discretion. Users will be notified of such changes within E-Banking, the Banking app or in another appropriate manner. If no written objection is received within one month, the changes will be deemed to have been accepted.