Each Client of the Bank, who is making a transaction regarding financial instruments and products or is using investment services or the service of maintenance of a securities account, shall be assigned to one out of following three categories:
- Retail Customers – the Bank provides them with the broadest protection cover,
- Professional Customers - the Bank provides them with protection, which is narrower than for Retail Customers. According to the MiFID Directive Professional Customers have appropriate know how and experience to properly assess the risk involved with making investment decisions,
- Eligible Counterparties - the Bank provides them with the narrowest scope of protection. According to the MiFID Directive Eligible Counterparties have extensive knowledge of financial instrument and product markets.
Clients are eligible for the right to apply for a change of Client category assigned previously by the Bank.
If you apply for change of classification, apart from additional documents we may ask you for such information as the value of your assets, professional experience with investments or making transactions of significant value.
The term “significant value” is used to determine whether a Customer may be included in the Professional Customer category upon his demand. According to:
- the Regulation of the Minister of Finance of 30 May 2018 in the matter of procedure and conditions of actions of investment companies, banks, mentioned in art. 70 sect. 2 of the Act on trading in financial instruments, as well as custodian banks
- the Regulation of the Minister of Finance of 21 January 2019 in the matter of provision of services by banks relative to structured deposits
The Bank must determine what transaction value it deems significant.
Due to the obligation, mentioned above, the Bank’s Management Board has defined significant value independently for:
- structured deposits, which is 50 000 EUR
- financial instruments, which is 250 000 EUR
Equivalence of amounts expressed in euro is determined with use of the average rate of the euro announced by the National Bank of Poland, valid on the day preceding the date of submitting the application for change of Classification.