Eligibility & Account Registration
To open and maintain a Saxon Bank account, you must meet the following requirements:
- Be at least 18 years of age
- Be a resident of the United States or United Kingdom
- Provide accurate, current, and complete information during registration
- Not have been previously banned or suspended from Saxon Bank services
- Comply with all applicable laws and regulations in your jurisdiction
By registering, you represent and warrant that all information you provide is truthful and accurate. Saxon Bank reserves the right to refuse service, close accounts, or restrict access at its sole discretion.
Banking Services
Saxon Bank provides a range of digital banking services including but not limited to:
- Checking and savings account management
- Domestic and international fund transfers
- Debit card issuance and management
- Bill payment services
- Loan applications and disbursement
- Currency exchange and multi-currency accounts
All services are subject to availability and may be modified, suspended, or discontinued at any time with reasonable notice provided to account holders.
Acceptable Use
You agree not to use Saxon Bank services for any unlawful or prohibited activities, including:
- Money laundering, fraud, or any other financial crime
- Funding illegal activities or prohibited goods and services
- Circumventing sanctions, embargoes, or export control laws
- Unauthorized access to our systems or infrastructure
- Impersonating another person or entity
Violation of these terms may result in immediate account suspension, asset freezing, and referral to appropriate law enforcement agencies.
Fees & Charges
Saxon Bank strives to maintain transparent and competitive fee structures. Standard fee schedules include:
- Checking Account: No monthly maintenance fee
- Savings Account: No monthly maintenance fee
- Domestic Transfers: Free for account-to-account transfers
- International Transfers: Fees may apply based on destination and amount
- Overdraft: $35 per occurrence (where applicable)
- Paper Statements: $3.00 per statement
Fee schedules are subject to change. You will be notified at least 30 days in advance of any changes to fees that affect your account.
Security & Your Responsibilities
You are responsible for maintaining the security of your account credentials, including your password, PIN, and any two-factor authentication methods. You must:
- Keep your login credentials confidential at all times
- Notify Saxon Bank immediately of any unauthorized access or suspicious activity
- Use strong, unique passwords and enable two-factor authentication
- Log out of your account after each session on shared devices
Saxon Bank will never ask for your password, PIN, or full card number via email, phone, or chat. If you receive such a request, report it to our security team immediately.
Limitation of Liability
To the fullest extent permitted by applicable law, Saxon Bank shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising from your use of our services.
Saxon Bank's total liability to you for any claims arising from these terms or your use of our services shall not exceed the total fees paid by you to Saxon Bank in the 12 months preceding the claim.
Some jurisdictions do not allow the exclusion or limitation of liability for certain damages, so the above limitations may not apply to you.
Account Termination
Either party may terminate the account relationship at any time. You may close your account by contacting customer support. Saxon Bank may close your account:
- If you violate these Terms of Service
- Upon suspected fraudulent or illegal activity
- For extended periods of inactivity (typically 24+ months)
- If required by applicable law or regulation
Upon termination, any remaining balance will be transferred to you via check or wire transfer within 10 business days, subject to any holds or pending transactions.
Governing Law
These Terms of Service are governed by and construed in accordance with the laws of the State of Delaware, United States, without regard to its conflict of law provisions.
For UK residents, these terms are also subject to applicable UK financial regulations including those set by the Financial Conduct Authority.
Any disputes arising under these terms shall be resolved through binding arbitration in accordance with the rules of the American Arbitration Association, except where prohibited by law.
Contact Us
If you have questions about these Terms of Service, please contact us:
- Email: support@saxonsavingunion.com