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The Master Account Agreement is the primary contract that governs the relationship between financial institutions and their customers in Germany. It is used when establishing new banking relationships and serves as the foundational document for all subsequent account services and transactions. This agreement must comply with German banking regulations, particularly the Banking Act (KWG) and Civil Code (BGB), while also incorporating relevant EU regulations such as GDPR. The document typically includes comprehensive terms covering account operations, electronic banking services, payment processing, security procedures, and data protection measures. It is designed to be flexible enough to accommodate various banking services while providing a robust legal framework for the ongoing banking relationship. The Master Account Agreement is essential for both retail and corporate banking relationships and often serves as the basis for additional service-specific agreements.

1. Parties: Identification of the financial institution and the customer, including full legal names and addresses

2. Background: Context of the agreement and the general banking relationship to be established

3. Definitions: Key terms used throughout the agreement, including banking-specific terminology

4. Scope of Services: Overview of the basic account services covered by the agreement

5. Account Opening and Maintenance: Requirements and procedures for opening and maintaining accounts

6. Customer Instructions and Authority: Rules regarding account operation, authorized signatories, and instruction methods

7. Bank's Duties and Responsibilities: Core obligations of the bank in providing account services

8. Customer's Duties and Representations: Customer's obligations, including providing accurate information and maintaining security

9. Fees and Charges: Basic principles for fees and charges, referring to the detailed schedule

10. Security and Access: Account security measures and access procedures

11. Data Protection and Confidentiality: Handling of customer data and confidential information in compliance with GDPR

12. Communications: Methods and requirements for communications between parties

13. Amendments to the Agreement: Process for making changes to the agreement terms

14. Termination: Conditions and procedures for ending the banking relationship

15. Governing Law and Jurisdiction: Specification of German law application and jurisdiction