East West Direkt is a brand belonging to the Luxembourg-based East-West United Bank S.A. When you open an account with East West Direkt, your account will be managed by East-West United Bank S.A. in Luxembourg. Your contractual partner is

East-West United Bank S.A.
10 Boulevard Joseph II
1840 Luxembourg

As East-West United Bank S.A. is a Luxembourg bank, your balance is protected by Luxembourg’s deposit guarantee system, which guarantees 100,000 euro per person and bank. It goes without saying that this applies to German investors too. If you open a joint account, 100,000 euro is protected per person.

Since it was founded in 1974, East-West United Bank has been providing financial services to both companies and private persons. In 2016, East West Direkt was launched, offering a select range of savings products in Luxembourg and Germany.

East-West United Bank is part of Sistema JSFC, which is one of the largest listed investment companies in Russia. The Group invests in a wide array of industries, and its companies have more than 100,000 employees in Russia. Sistema is listed on the London Stock Exchange (under the symbol ‘SSA’) and on the Moscow Stock Exchange (as ‘AFKS’).

For more information, go to:
www.ewub.lu
www.sistema.com

The East West Direkt instant-access savings account is for private persons only. You may open an instant-access savings account if you meet the following requirements:

• You are at least 18 years old.
• You act for your own account only.
• You have your permanent and fiscal residence in Germany or Luxembourg.
• You have an account with a bank in Germany or Luxembourg.
• You have a valid email address.
• You own a mobile phone with a German or Luxembourg phone number.
• You do not have US citizenship (including dual citizenship), are not a holder of a green card and are not subject to US taxation laws.
• You are not subject to the Foreign Account Tax Compliance Act (FATCA).

It is also possible to open a joint account.

If you place your money with East West Direkt but are not domiciled in Luxembourg, you must bear in mind that your interest income will not be taxed directly and taxes will therefore not be deducted automatically. Luxembourg has different taxation laws to those that apply in Germany. You are therefore required to have your interest income taxed when you submit your tax return. In the case of customers who are domiciled in Luxembourg, interest income is paid to their account on a monthly basis less 20% tax. You will find more information on taxes in the taxes section.

East West Direkt is subject to the Luxembourg’s deposit guarantee provisions – also in Germany. Luxembourg’s deposit guarantee scheme guarantees a sum of 100,000 euro per individual saver and per bank. It goes without saying that this applies to German savers too. If you open a joint account, 100,000 euro is protected per person.

At East West Direkt, we give priority to high-quality services and, as such, we grant high importance to the feedback received in this respect. In the event that you need to address any complaint about East West Direkt, you can follow the procedure described here below:

You can lodge a complaint in writing by mail or email to our
Chief Compliance Officer
East-West United Bank
Compliance Department
10 Boulevard Joseph II L-1840 Luxembourg
E-mail : compliance@ewub.lu

Complaints must clearly indicate the customer’s contact details and include a brief description of the reason for the complaint. Our Compliance Department will acknowledge reception of the complaint within 10 business day and will respond to your concerns in the shortest possible timeframe. Upon demand, our policy on complaints handling may be obtained free of charge.

If you have not received any response or are not satisfied with the response given by East West Direkt within 30 days, you can file a request for an out-of-court complaint settlement, in accordance with the provisions of regulation no. 16-07 issued by the Luxembourg financial regulator (CSSF).

Commission de Surveillance du Secteur Financier
Département juridique II L-1150 Luxembourg
Fax : (+352) 26 25 1 - 601
E-mail: reclamation@cssf.lu
More details on the site of the CSSF:
www.cssf.lu/consommateur/reclamations

You live in Germany:
Setting up your instant-access savings account is quick and easy and is processed entirely online: on the webpage, click the button ‘Open account’ and enter your details.
The subsequent steps to complete the account opening process are as follows:

• Within a matter of minutes, we will send you a confirmation email containing your login details and the IBAN number of your new instant-access savings account.
• Customers in Germany will need to identify themselves to East West Direkt by means of Deutsche Post’s Postident identification process. To do so, please log in to your personal customer area using your login details (https://www.eastwestdirekt.lu/thclu/policyenforcer/pages/loginB2C.jsf). Please click on the Postident link – this will take you to the Deutsche Post website to undergo the identification process. Please follow the instructions you are given. You will also find details there how you can complete the identification process using a webcam.
• You make a first money transfer from your stipulated reference account (e.g. your current account with your principal bank) to your instant-access savings account with East West Direkt.

You live in Luxembourg:
Setting up your instant-access savings account is quick and easy and is processed entirely online: on the webpage, click the button ‘Open account’ and enter your details.
The subsequent steps to complete the account opening process are as follows:

• Within a matter of minutes, we will send you an order confirmation email containing your login details and the IBAN number of your new instant-access savings account.
• You send a copy of your passport or of both sides of your ID card to us by email.
• You make a first money transfer from your stipulated reference account (e.g. your current account with your principal bank) to your instant-access savings account with East West Direkt.

Yes, it is essential that you have a joint reference account held in both of the account holders’ names if you wish to open a joint account with East West Direkt.

For security reasons, East West Direkt uses the mobile TAN method for money transfers and other sensitive processes. A six-digit code known as an mTAN is sent to you by text message, which you then use to confirm your transaction.

I have not received a confirmation email despite having correctly filled in and submitted the online account opening application form. What should I do?

Please check your email program’s spam folder as East West Direkt emails may, in isolated cases, be redirected to a spam folder.

If you do not find your confirmation email in your spam folder, you may have inadvertently provided us with an incorrect email address. In this case, please contact our service centre.

You can change your personal details such as your postal or email address at any time online in your protected area.

Changing my mobile phone number

a. I would like to change my current mobile phone number and still have access to my old number

If your phone number has changed, you can update this information in your personal online banking area (in the ‘Data’ section). The confirmation text message for this modification will be sent to your old phone number. Once this change has been saved, you can use the mTAN process as usual using your new number.

b. I would like to change my current mobile phone number, but I no longer have access to my old number

If your old mobile phone number has already been deactivated, please contact our service centre to let us know your new mobile phone number. We will then cancel the use of your old number for transactions.

For security reasons, your new mobile phone number will have to be confirmed. To do so, please transfer a sum (of at least 0.01 euro) from your reference account to your instant-access savings account and enter your new mobile number in the communication field. Once the payment has been received in your instant-access savings account, we will activate your new mobile phone number.

c. I have lost my phone/my phone has been stolen

If you have lost your phone or it has been stolen, please contact our service centre, so that we can cancel your phone number for use in the mTAN process. If you then find your phone or buy a new phone and keep your old number, please contact us so that we can reactivate your mobile phone number for use in the mTAN process.

Changing my reference account

You can change your reference account at any time in your personal online banking area (in the ‘Data’ section). To conclude the change, transfer a sum of money from your new reference account to your instant-access savings account.

Please make sure that, like your old account, your new reference account is a current account held in your name at a bank in Germany or Luxembourg.

Changing my postal address

To change your postal address, log in to your online banking area and go to ‘Data’, where you can then enter your new address. The change is confirmed and saved by means of the mTAN process.

Changing my email address

To change your email address, log in to your online banking area and go to ‘Data, where you can then enter your new email address. The change is confirmed and saved by means of the mTAN process.

Changing my password

To change your password, log in to your online banking area and select ‘Password modification’. The change is confirmed and saved by means of the mTAN process.

Changing my username

For security reasons, your username cannot be changed. Please contact us if you no longer know your username.

At East West Direkt, account statements are provided electronically. You can then simply save your account statement on your computer or print it out.

At East West Direkt, annual statements are provided electronically. You can then simply save your annual statement on your computer or print it out. Annual statements are issued once a year starting in January.

An instant-access savings account is a simple and effective way in which to deposit sums of money flexibly and profitably. With an instant-access savings account you can access your money whenever you want. It is subject to a variable rate of interest, which may change on a daily basis. You can find the current interest rate here.

The account is provided free of charge. Interest is credited to the instant-access savings account at the end of each month. The account is held purely as a savings product and may not be used for payment transactions.

The interest rate on your instant-access savings account is guaranteed for a period of 3 months from the moment you submitted the account opening request.

For you as a customer, this means that even if East West Direkt lowers interest rates, you will continue to receive the original interest rate on the entire balance of your instant-access savings account throughout the guaranteed period. Naturally, in case East West Direkt raises interest rates, you will benefit immediately from that moment on.

The interest rate applicable to fixed-term deposits is the rate agreed at the beginning of the term. This interest rate is then guaranteed for the duration of the entire agreed term.

You cannot close your account during the fixed term. You cannot access the account balance during this fixed term and the investment amount cannot be changed. Payments cannot be made to a fixed-term deposit account.

There is no minimum amount for an East West Direkt instant-access savings account. The minimum deposit amount for a fixed-term deposit account is 1,000 euro.

Each customer can deposit up to 250,000 euro with East West Direkt (total of fixed-term deposit accounts and instant-access savings account). If you wish to deposit a larger amount with us, please get in touch with us either by email or by telephone.

You can find the current interest rate here.

You can find the applicable interest rate for your accounts at any time in the online banking area.

Only one instant-access savings account may be held with East West Direkt at any one time. You may, however, open multiple fixed-term deposit accounts with East West Direkt.

Please go to the East West Direkt website, click on login and, on the login page, click on ‘Forgot your password?’

Enter your username, followed by the security code shown. If you are unable to read the code, please click on the button to the right to generate a new security code. Simply repeat this process until a legible code is shown, then enter this code.

Please then answer your personal security question and we will send you a new time-limited password right away. If you copy and paste this password from the email we send, please make sure you do not copy any blank spaces with the password.

Your East West Direkt password has to meet the following criteria:

• Between 8 and 16 characters
• At least one number

Please note that your new password may not be identical to the last three passwords used and that passwords are case-sensitive.

East West Direkt sets great store by security. Your online savings are, of course, secure.

When you open your account, you will give details of a reference account held in your name with another bank. As a security measure, you can only make transfers from your East West Direkt instant-access savings account to your reference account.

In addition, access to your account is only possible via your username and password. You will confirm transactions with separate transaction numbers (mTAN) that we will send to your mobile phone for each transaction.

Please call us immediately. An East West Direkt employee will then check your account and will block it, if necessary.

For security reasons, East West Direkt uses the mobile TAN method (otherwise known as mTAN) for transfers and other sensitive processes. A six-digit code known as an mTAN is sent to you by text message, which you then use to confirm your transaction.

The mobile TAN process is an established and very advanced security process. Each mobile TAN can only be used once and becomes invalid after two minutes. A new mobile TAN is sent to your mobile phone by text message for each online transaction you effect. Unauthorised use of your account access in conjunction with your reference account is virtually impossible, as it requires not only your personal access details and your password, but also simultaneous access to your mobile phone and your reference account.

The services of East West Direkt can only be used by persons with a valid German mobile phone number (if living in Germany) or a valid Luxembourg mobile phone number (if living in Luxembourg).

Handling your personal details carefully and securely is something that matters greatly to us. East West Direkt therefore handles all personal customer data with great diligence.

You live in Germany:

If you place your money with East West Direkt and are domiciled in Germany, you must bear in mind that your interest income will not be taxed automatically because East West Direkt is based in Luxembourg. As such, you must pay tax on your interest income annually, in accordance with the legal provisions. Interest income will be paid to your account without any tax deductions. East West Direkt automatically notifies the relevant financial authorities of your interest income annually. This exchange of information does not, however, release you from disclosing your interest income yourself in your annual tax return.

You live in Luxembourg:

In the case of customers who are domiciled in Luxembourg, interest income is paid to their account less 20% tax.

As East West Direkt is based in Luxembourg, it is not possible to submit a non-assessment certificate. Your interest income can, however, be disclosed to the tax authority responsible for you. Nevertheless, taxes will not be deducted from the accounts of customers who do not live in Luxembourg. Only customers who are domiciled in Luxembourg are paid their interest income less 20% tax.

Please note that tax is not automatically paid on the interest income from deposits made with East West Direkt by customers who are not domiciled in Luxembourg. As such, you must disclose your interest income in accordance with the legal provisions.