1 The terms of our relationship

1.1 We have a range of products designed to suit your personal banking needs. The specific features of our products are available on request. Some products may not be available to you depending on your location.

1.2 If you want to use a product, you need to complete an application to ask us to approve your use of it. Different eligibility criteria may apply to different products. These may include minimum or maximum age or deposit amounts. We may refuse an application for any reason. Unless required by law, we do not need to give you a reason.

1.3 If we agree to provide a product to you, the terms on which you may use the product are called our “banking agreement”. This is made up of the following where applicable:

§ the application;

§ any letter of offer in connection with the product;

§ these Customer Terms;

§ the applicable product terms;

§ our approval;

§ the tariff sheet;

§ any guidelines we issue in connection with use of a product (including guidelines for use of electronic banking services);

§ any other terms and conditions that form part of our banking agreement as varied or replaced from time to time.

The terms of our banking agreement apply to each use of a product by you or any authorised person. If you or an authorised person does not agree with the terms of our banking agreement, you or they should not carry out the transaction or access any account. You are responsible for ensuring that each authorised person complies with our banking agreement and for anything an authorised person does in connection with our banking agreement. You must ensure that each authorised person is given a copy of the terms that apply to any product they use.

1.4 If you are not a resident of Malaysia, additional terms and conditions may apply as notified by us at any time.

1.5 A reference to terms and conditions by any name in forms, statements, brochures and other documents we provide is a reference to the relevant terms contained in our banking agreement.

1.6 If there is any inconsistency between:

§ these Customer Terms and any specific terms (such as product terms), the specific terms prevail; and

§ the English version of our banking agreement and any translations, the English version prevails.

1.7 Our banking agreement does not apply to an existing product or service unless otherwise provided in the product terms.

2 Pre-conditions to use of any product

We need not provide any funds to you or otherwise allow you to use a product if:

§ we consider you may be in default;

§ you have not satisfied any pre-conditions to use set out in our approval, the applicable product terms, elsewhere in our banking agreement or as we notify you at any time;

§ you have not given us the security (if any) we require in addition to the security set out in Part I (Security);

§ we consider that you may not be able to satisfy your obligations to us under our banking agreement. We may determine this is the case if, for example, there has been a change in your financial position since the date of your application;

§ we advise you that funds can only be provided or the product can only be used during a specified period (called the availability period), and that period has expired;

§ you have not provided us with all other documents and information we reasonably request;

§ you give us any incorrect, incomplete or misleading information or make an incorrect or misleading representation or warranty.

In addition, for some products we need not provide funds to you or otherwise allow you to use the product if, in our absolute discretion, we decide not to do so (see the applicable product terms).

3 Review

We may review the terms of our banking agreement (including the applicable product terms and your conduct under our banking agreement) at any time even if there is no default. We may (subject to applicable law), at any time:

§ terminate or cancel our banking agreement;

§ adjust any limit or vary the term of any product;

§ require additional security;

§ otherwise vary the terms of our banking agreement.

4 Authority

Account operating authority

4.1 When you apply for a product, you must give us account operating authority details:

§ for all authorised persons; and

§ for joint accounts, the method of operation (either, any one accountholder to give instructions or all accountholders to give instructions jointly). If no method of operation is specified, any one accountholder may operate the account.

If on a joint account you require more than one accountholder to sign, then you will be able to view (but not give instructions on) the account using an electronic banking service if each relevant accountholder approves the relevant access.

4.2 We act on the account operating authority until you vary (by removing or adding authorised persons) or cancel it. If you want to vary the account operating authority by changing either the authorised persons or the method of operation, or cancel the account operating authority, you must give instructions in writing to the branch where the account is conducted. On receipt of the instructions, we vary or cancel the account operating authority. The variation or cancellation becomes effective within 7 banking days after we accept your instructions.

4.3 We honour for payment all cheques and other instruments signed in accordance with the previous authority if they are dated before, but presented for payment after, we have processed the instructions.

4.4 We rely on any instructions given by an authorised person in accordance with the account operating authority.

Scope of account operating authority

4.5 Except to the extent you may limit the authority of an authorised person each authorised person may act on the account. . Depending on the product, an authorised person may:

§ draw cheques;

§ overdraw to any extent permitted by us;

§ withdraw money in any manner;

§ give and cancel authorities in our usual form for periodical payments;

§ stop a payment of a cheque drawn on the account;

§ access and operate the account using an electronic banking service in accordance with our banking agreement;

§ obtain statements of account and any information required concerning the accounts generally;

§ obtain cheque books and endorse cheques or other instruments payable to your order or if it is a joint account, payable to any one or more of you; and

§ elect on your behalf to receive eStatements and notices electronically (instead of by mail), and cancel that election.

Conducting an account in joint names

4.6 Unless otherwise agreed with us when a joint account is opened:

§ operations on the account are governed by the account operating authority;

§ we need not enquire into the circumstances of any instructions any of you may give in relation to the conduct of the account;

§ we are authorised to accept for credit of the joint account, any cheque or other instrument payable to one or more of you;

§ each of you is liable to us jointly and separately for the balance owing (including if we permit an overdrawing); and

§ if one of you dies, the surviving accountholder may give instructions and obtains title to the account.

5 Instructions

Authorised persons

5.1 You authorise us to act on instructions from you or any authorised person (including any instructions we believe to have been given by you or an authorised person). You acknowledge that for electronic banking services, we may require use of a security code and use of a security code is evidence that the instruction is authorised by you or an authorised person. However, also see clause 17 (Liability for transactions).

Form of instructions

5.2 Instructions may be given in writing, by telephone, fax or through any electronic banking service, subject to execution and provision of any documents we require.

You are responsible for ensuring the accuracy and completeness of instructions.

5.3 You acknowledge that all instructions given (and our records of those instructions) in electronic form are original documents in writing. You agree not to challenge their validity, admissibility or enforceability on the basis they are in electronic form.

5.4 You must ensure your account has sufficient funds for the purposes of giving instructions to us.

5.5 All instructions are irrevocable and binding on you.

5.6 Contact us if you need to confirm that an instruction has reached us and that it will be carried out by a particular time.

How we may act

5.7 We may:

§ act on incomplete or unclear instructions if we reasonably believe we can correct the information without referring to you or an authorised person. Otherwise, we may refuse to act on incomplete or unclear instructions;

§ act on instructions which conflict with each other and determine the order of acting if multiple instructions are received;

§ specify conditions on which we accept any instructions;

§ verify any instruction we receive by contacting you;

§ act in accordance with our usual business practice and procedure and we need only accept instructions if we consider it reasonable and practicable to do so. For example, we may refuse to act if an instruction may involve a breach of our policy, any security procedure or any law or requirement of any authority, result in an account being overdrawn, appears to conflict with another instruction from a joint accountholder or if we genuinely believe or suspect the instruction is unauthorised.

Payment instructions

5.8 You authorise us to act as the instructing financial institution to send your payment instructions (for example a cheque, traveller’s cheque, money order or other similar instrument). You also authorise us and each member of the Standard Chartered Group or any third party who receives the payment instructions to act on them as if you had sent the payment instructions directly to them.

Inability to process

5.9 If we cannot process instructions, we will attempt to notify you as soon as possible.

Timing

5.10 If we receive an instruction on a non-banking day or after our “cut-off time” for a product, we may treat it as having been received on the next banking day.

Stopping a transaction

5.11 If we are instructed in writing to stop a transaction, we will attempt to do so. However, we are not liable for any loss you incur if we cannot do so.

Risks

5.12 You acknowledge and accept the risks of giving instructions by telephone, fax or through any electronic banking service (including the risk of any instructions being unauthorised or given by an unauthorised person and the risk that any information sent by electronic banking services cannot be guaranteed to be secure or free from virus or delay).

Instructions from us

5.13 You and each authorised person must follow our instructions in connection with a product and comply with all applicable laws.

6 Account overdrafts

6.1 If you or an authorised person makes any withdrawal, payment or other transaction on an account (including by cheque or use of a card or electronic banking service) or any other debit is made to the account which would result in:

§ a debit (or negative) balance in the account; or

§ any agreed overdraft limit applying to the account under a line of credit or other loan facility being exceeded,

this is known as overdrawing the account.

6.2 We need not:

§ accept any instruction or allow any withdrawal or transaction or honour any cheque or other instrument drawn on an account, which would cause an account to be overdrawn; or

§ transfer funds from any other account to the overdrawn account in order to effect the withdrawal or transaction.

6.3 We may (but need not) allow an account to be overdrawn (even if no request has been made for an overdraft) if we believe that an overdraft is necessary for us to carry out instructions from you or an authorised person.

6.4 If we allow an account to be overdrawn:

§ this only applies for that particular instruction and this does not mean that we will allow a similar overdraft in the future;

§ the amount by which the account is overdrawn is treated as an advance by us to you and you owe us a debt equal to that amount;

§ when we ask, you must repay that advance and any interest which is calculated in accordance with our usual practice and at the interest rate that we notify to you.

7 Notices and communications

Contact information

7.1 You must give us in writing your address, telephone, fax number, email address and mobile phone number for receipt of notices and other communications in connection with our banking agreement. If these details change you must give us reasonable advance notice in writing before the change has taken place.

Form of notices and communications

7.2 Unless otherwise provided in our banking agreement, notices and communications must be legible and sent to the address, telephone number, fax number, email address or mobile phone number last notified.

7.3 In some cases, our notices and communications may be made as public announcements in daily newspapers, posted at any of our branches, our ATMs or on our website.

When notices and communications to you are effective

7.4 Unless otherwise provided in our banking agreement, our notices and communications to you are effective:

§ if sent by fax, at the time shown on the transmission report as being successfully sent;

§ if delivered personally, at the time of delivery;

§ if sent by post, 5 banking days after posting;

§ if sent by email or SMS, 4 hours after we send it unless we receive a delivery failure receipt;

§ if delivered via the online banking inbox, 24 hours after we send it; and

§ if published in daily newspapers, posted at any of our branches, our ATMs or on our website, at the time of publication or posting.

When notices and communications to us are effective

7.5 Your communications are effective when we actually receive them in legible form.

Recording of telephone conversations

7.6 Subject to any applicable law, you consent to us recording our telephone conversations with you or an authorised person (and you confirm you are authorised to provide consent on behalf of the authorised person). We may inform that person when we do. We may use the recorded conversations or transcripts in any dispute in connection with our banking agreement.

Digital signatures

7.7 Instructions and communications digitally signed and supported by a digital certificate will have the same validity, admissibility and enforceability as if signed in writing.

7.8 Any communication that is digitally signed must comply with any applicable law.

Electronic contracts

7.9 You are satisfied that electronically executed contracts are enforceable despite the legal risks associated with them.

7.10 You must not dispute the contents of any communication (including any application) sent to us using electronic equipment.

Communications to joint accountholders

7.11 If you are joint accountholders, communications (including notice of any variation to our banking agreement and any statements (including any consolidated statements)) sent to the address you have notified us as the address for receipt of notices and other communications in connection with our banking agreement are taken to be given to all of you.

8 What is electronic banking?

Overview

8.1 Electronic banking services are a range of banking and other services or facilities that use electronic equipment and include the following:

§ online banking

§ ATM and debit card services

§ phone banking

§ SMS banking and SMS alerts

§ mobile banking

§ fund transfer services

§ point of sale banking

§ eStatements.

Please contact us for details of the electronic banking services available to you.

Using electronic equipment

8.2 When a transaction is made with electronic equipment using a security code, you authorise us to act on the instructions entered into that electronic equipment.

We treat use of a security code as evidence that you or an authorised person issued the instructions (see clause 5 for more details).

Electronic banking services

8.3 Electronic banking services:

§ may be directed to any account that is linked to a security code if it is not possible to direct them in accordance with the instructions you or an authorised person gives the electronic equipment;

§ may be limited to specific amounts set by law or by us or by the owner or operator of the electronic equipment. For example, there are maximum and minimum daily withdrawal amounts that may vary.

9 Using electronic banking services

Availability

9.1 Electronic banking services, and certain facilities under the electronic banking services, may be available only for certain types of accounts and not others.

Eligibility

9.2 You and each authorised person must be at least 18 years of age to use electronic banking services. However, if we permit you or an authorised person to use electronic banking services even though you or they are below 18 years of age, this does not affect our rights under our banking agreement.

Preconditions to use

9.3 We only make an electronic banking service available if:

§ you are recorded as the legal and beneficial owner of the account and use of the electronic banking service in respect of the account is acceptable to us;

§ you have registered for the particular type of electronic banking service. Contact us to arrange this; and

§ you and each authorised person has complied with the activation procedures we specify.

Guidelines

9.4 If we issue any guidelines in connection with the use of any electronic banking services, the guidelines must be followed whenever anyone accesses the electronic banking service. We are not liable for any loss you incur as a result of any failure to do so.

Application of terms

9.5 These terms apply to your use of an electronic banking service whenever you subscribe for the electronic banking service even if you subscribe after you begin to use a product.

Joint accounts

9.6 If the account operating authority for a joint account is “both/all to sign”, you agree that each joint accountholder is taken to be subscribing to the electronic banking services, and access to the electronic banking services is restricted to viewing of information only and not conducting transactions.

9.7 If the operating authority for a joint account is “single signing authority”, you agree that:

§ all joint accountholders may operate the account using the electronic banking services in accordance with these Customer Terms (even if you are not registered to use the relevant electronic banking services); and

§ any single joint accountholder may validly give instructions by the electronic banking services in connection with that joint account.

Operating times

9.8 The electronic banking services will usually be available for use during normal operating hours or at the times set out in the guidelines or otherwise notified to you. However, routine maintenance requirements, excess demand on the systems and circumstances beyond our control may mean it is not always possible for the electronic banking services to be available during all normal operating hours.

Access

9.9 When you or an authorised person uses electronic banking services you or they must:

§ not access the electronic banking services using any electronic equipment not owned by them or which they are not licensed or authorised to use; and

§ take all reasonably practical measures to ensure that any electronic equipment from which they access the electronic banking services is free of and adequately protected against any computer virus or other malicious software.

Unauthorised overdrafts

9.10 You cannot rely on the operation of the electronic banking services to prevent an unauthorised overdraft being created. In particular, you must remember that cheques and any payment instructions you or an authorised person has given using the electronic banking services may not be given immediate value or immediate effect and might not always be immediately reflected in the balance owing. For the consequences of unauthorised overdrafts see clause 6.

Phone banking

9.11 When using phone banking, if you ask and we quote any exchange rate or interest rate to you, the rates are for your reference only and are not binding on us unless we subsequently confirm the rates in writing.

Variations

9.12 We may at any time:

§ vary the way any electronic banking service operates; or

§ add to, remove or otherwise vary, end or suspend any of the facilities available under any electronic banking service.

You and each authorised person are taken to be bound by any variation to the operation of an electronic banking service if you or they continue to access the electronic banking service after we notify you of the variation.

10 SMS banking and SMS alerts

SMS banking

10.1 SMS banking is only available for mobile phones and data connections which meet the specifications and configurations we specify. You must obtain and maintain a mobile phone and data connection which meet these requirements at your own expense.

SMS alerts

10.2 There are 2 categories of SMS alerts:

Alert type	Description
Automatic alerts	No prior subscription required.
Subscriber alerts	You must subscribe and select the types of SMS alerts which you wish to receive.

10.3 We may vary the types of SMS alerts available without notice to you.

Availability of SMS banking and SMS alerts

10.4 SMS alerts are sent only when available and practicable.

10.5 The availability and proper functioning of SMS banking and SMS alerts depends on many variable circumstances, including location, mobile network availability and signal strength, and proper functioning of hardware, software, your mobile network operator and mobile phone.

10.6 We may suspend SMS banking and SMS alerts temporarily at any time for maintenance and upgrading of services.

10.7 You must pay any charges imposed by your telecommunications provider for using SMS banking or SMS alerts.

11 Fund transfer services by electronic banking services

11.1 This clause 11 applies only if the respective services are available under the fund transfer services for your type of product.

11.2 You and each authorised person may use electronic equipment to access the following services for the purposes set out below:

Name of service	Purpose
Interbank funds transfer service	To instruct us to transfer funds from a source account to a specified account with another bank in Malaysia.
Own account funds transfer service	To instruct us to transfer funds between accounts. This service may only be used where all named accountholders are identical across the accounts but excluding accounts which are known to us to be held by you in different capacities including trust accounts or estate accounts.
Bill payment service	To instruct us to transfer funds for payments from a source account to a specified payee.
Third party intrabank funds transfer service	You and each authorised person may use the third party intrabank funds transfer service to instruct us to transfer funds from a source account to a specified account with us which is held in the name of any one or more accountholders which is different from those in the source account, or an account known to us to be held by you in different capacities.
International telegraphic transfer service	To instruct us to transfer funds from a source account to a specified account with a bank in another country.

Fund transfer limits

11.3 You and each authorised person may issue as many instructions to transfer funds in any one day as you wish. However, you and each authorised person may only issue instructions to transfer up to the preset or personalised limit per day.

11.4 The preset daily limit may differ for different types of fund transfers and different types of accounts. The limits may also be applied on an aggregated basis between differing fund transfer services. For details of the preset limits, see our website.

11.5 You may lower the preset limit for accounts by online banking. Your personalised limit will apply to all accounts.

11.6 If you want to increase the limit after lowering it (subject always to the ceiling of the preset daily limit), please contact us.

11.7 Each International Telegraphic Transfer Service transaction is subject to minimum and maximum transfer amounts per transaction, as set out on our website.

Bill payment services

11.8 If you use the bill payment services, we may give reports to payees, listing all users of the electronic banking services who have made payments to that payee and the respective amounts paid by each of those users. You consent to us to disclosing to the payee any information required in the reports.

11.9 Neither you nor any authorised person may issue instructions that will cause any limit we set for the bill payment services to be exceeded.

11.10 Payees may only receive payments after any minimum processing time we set.

International Telegraphic Transfer Service

11.11 If you or an authorised person uses the International Telegraphic Transfer Service:

§ you or they must register each recipient using online banking before you or they may make an online telegraphic transfer to that recipient. Once a recipient has been registered, you are solely responsible to update any changes to the recipient’s particulars (excluding name or identity particulars) by the electronic banking services. We are not liable for any loss which may result if you fail to update the recipient’s particulars before making an online telegraphic transfer; and

§ the rate of exchange applying to each online telegraphic transfer is our prevailing rate of exchange for the relevant currencies at the time that the online telegraphic transfer is processed, and not at the time the instruction is entered by you or the authorised person.

When we need not execute fund transfer instructions

11.12 We need not execute any fund transfer instruction if on the date set for effecting the fund transfer:

§ the source account does not contain sufficient funds to make the fund transfer;

§ you or an authorised person did not correctly use the electronic banking services; or

§ circumstances beyond our control prevent the fund transfer from being carried out, despite reasonable precautions taken by us.

12 eStatements

12.1 You may elect to receive eStatements by one of the following methods:

Method	Description
Email, online or in your application	Your eStatement is sent by email to your email address (last notified). Your eStatement will also be available by online banking.
Online only	An “eStatement Notification” message is sent to your email address (last notified) to advise you that your eStatement is available. You may then access and/or download your eStatement by online banking.

You may switch the manner in which you receive eStatements by contacting us.

12.2 Despite the features or options offered at the time you first registered to receive eStatements, we may stop issuing paper printouts of your statements at any time. However, if you ask, we agree to give paper printouts on the basis that you pay the applicable fee (see the tariff sheet or contact us at one of our branches or use phone banking).

12.3 You are taken to receive each eStatement within 24 hours of the eStatement or eStatement Notification being sent by us.

12.4 You must use only software compatible with the eStatement service to access the eStatement.

12.5 We or members of the Standard Chartered Group may use eStatements to advertise products and services. If you notify us that you do not wish to receive advertisements in connection with our banking agreement, the notification will not apply to advertisements in eStatements.

13 Cards - generally

We may agree to issue ATM cards, debit cards, credit cards or prepaid cards. This clause sets out general provisions which apply to all cards we issue. Additional terms apply to specific types of cards (see these Customer Terms and the applicable product terms).

Issue of cards

13.1 We may issue a card to you and, if you ask, to each authorised person.

13.2 A reference to terms and conditions on a card is a reference to the terms of our banking agreement.

Card is our property

13.3 The card remains our property and is not transferable to another person. We may suspend the use of the card without notice to you. You must ensure that the card (and, if applicable, any software stored on it) is not defaced, damaged, bent or modified, reverse engineered or decompiled, in any way.

Signatures

13.4 A card must be signed immediately on receipt.

13.5 When a card is used the signature on any sales draft, credit voucher or other transaction record is binding and conclusive evidence that you have accepted the charges which are charged to a linked account. You should keep the transaction records that you or any authorised person is given.

Use of cards

13.6 Cards may be used to pay for goods and services to access cash or perform other transactions as we notify from time to time. However, where a particular function is permitted, this is limited to particular channels as advised. For example, paying for goods and services and accessing cash may be limited to merchant terminals or ATMs which display the relevant card logo.

13.7 A cardholder may use a card to authorise transactions in any manner we permit from time to time. This may include use of the card number without the physical card.

Transaction limits

13.8 We or other financial institutions may impose transaction limits on different types of transactions which may be made using a card. For details of the limits we impose, please contact us.

Your liability

13.9 Except as otherwise set out in our banking agreement, you are liable for all transactions made using a card or the card number.

Expiry date

13.10 If a card has an expiry date, we may reject any use of the card after that date.

Restrictions on use of a card

13.11 Neither you nor any authorised person may use a card:

§ for any unlawful activity (including a purchase of goods or services that is illegal or prohibited by the laws of Malaysia or by the laws of the country where the purchase is made); or

§ to pay debts incurred in connection with on-line gambling, wagering or betting activities conducted via internet.

13.12 We may refuse to approve transactions made using a card if we believe or suspect the transactions are illegal, fraudulent, dishonest or unauthorised. However, we need not determine or enquire into the purpose or legality of the transaction.

Overdrafts on linked account

13.13 Neither you nor any authorised person may use a card for a transaction if it would cause a linked account to be overdrawn. If the linked account is overdrawn, we may refuse to approve the transaction. For the consequences of an unauthorised overdraft see clause 6.

Replacement and renewed cards

13.14 If you or an authorised person asks, we may issue a replacement card. You must pay the applicable replacement fee (see the tariff sheet or contact us at one of our branches or use phone banking).

13.15 We treat any use of a replacement or renewed card as a valid activation of the card.

Features on a card

13.16 We may enter into arrangements with third parties (including service providers and merchants) to offer additional services or features on your cards. If offered, these are provided on a best efforts basis only. We are not liable for any loss you suffer in connection with these services or features.

Cancellation or expiry

13.17 You may cancel a card by giving us notice in writing. You must immediately cut into half and return to us any cancelled or expired card.

Refunds

13.18 A merchant must issue a valid credit voucher to make a refund for goods or services purchased by using a credit card. We can only credit the linked account with the refund when we receive the voucher or other notification from the merchant’s bank.

Disputes with merchants

13.19 We are not liable for:

§ the refusal of any electronic equipment or merchant to accept the card; or

§ any defect or deficiency in goods or services supplied to you by any merchant.

You must resolve any complaint directly with the merchant and no claim against the merchant may be set off or claimed against us.

Exchange rate

13.20 Non-local transactions will be converted to local currency at a rate we reasonably consider appropriate (see clause 21.1 (Currency of payment)), which may be a rate set or resulting from procedures adopted by a third party. Any rate imposed is final and conclusive and you bear all exchange risks, loss, commission and other bank charges which may be incurred as a result.

Using an ATM card

13.21 You or an authorised person may use an ATM card overseas if you or they comply with exchange controls and other applicable laws in the country where you or they are located.

13.22 If you or an authorised person uses an ATM card overseas and the ATM does not allow a choice of account for withdrawals, the order of accounts we debit is in accordance with our usual practice.

13.23 You authorise us to disclose information to parties involved in the provision of ATM services and you authorise any such parties to disclose information to us about an account, your PIN/password and transactions.

14 Debit cards

Where you may use a debit card

14.1 A debit card may be used in Malaysia and in most countries overseas.

Pre-authorisation procedure

14.2 Some merchants are required to specifically authorise transactions using debit cards. If this is the case, the transaction is processed as follows:

§ the merchant debits an amount determined by it (called a “blocked amount”) from a linked account on the transaction date or the billing date, whichever is the earlier, regardless of the actual final transacted amount;

§ the difference between the blocked amount and the transacted amount is released and credited into a linked account after we process and pay the transacted amount; and

§ if there is any difference between the transacted amount billed or there is any delayed billing by the merchant, we may make any necessary adjustment by debiting or crediting a linked account, in order to reflect the correct transacted amount.

Minimum balance of linked account

14.3 We may set a minimum balance to be maintained in the linked account for the use of the debit card and we may vary the minimum balance without notice to you.

15 Prepaid cards and gift cards

A prepaid card or gift card is not a credit card, debit card or ATM card. You should treat your prepaid card or gift card like cash. If your prepaid card or gift card is lost or stolen, you are unable to recover any remaining value on the prepaid card or gift card. If your prepaid card or gift card is found, the holder can use up the remaining value on it.

Loading value

15.1 Value may be loaded on a prepaid card at any location we specify. Please contact us for more information. The amount you ask to be loaded on the prepaid card is debited from the linked account.

15.2 Value cannot be reloaded on a gift card.

No cash withdrawals on gift cards

15.3 A gift card cannot be used to withdraw cash.

Liability

15.4 You are liable for all transactions using a prepaid card or gift card even if they are not authorised by you.

Recall, expiry or cancellation

15.5 We may recall a prepaid card or gift card or cancel any of the services available in connection with the prepaid card or gift card at any time for any reason. You must return the prepaid card or gift card immediately to us if we ask you to do so or if it has expired.

15.6 If the prepaid card or gift card is recalled, expired or its value cancelled, we will give you a refund of the amount of unused value on the prepaid card or gift card (as determined by us) as soon as reasonably practicable after you return the prepaid card or gift card to us at one of our branches.

Lost or stolen prepaid cards or gift cards

15.7 We are not liable for lost or stolen prepaid cards or gift cards or the use of any unused value on a lost or stolen prepaid card or gift card.

15.8 When you receive your prepaid card or gift card, keep a record of its serial number (see the back of the prepaid card or gift card). If your prepaid card or gift card is lost or stolen you need to tell us:

§ the serial number of the prepaid card or gift card;

§ your name;

§ your address;

§ your telephone number; and

§ any relevant details of the loss.

If your prepaid card or gift card is found, it will be returned to you if you can prove that it is your prepaid card.

16 Security procedures

Security procedures for banking services are very important. You must comply with (and ensure each authorised person complies with) all security procedures set out in our banking agreement.

Issue and cancellation of security codes

16.1 We may issue (or in some cases, allow you to select) security codes to enable you to communicate with us or to give us instructions by electronic equipment.

16.2 If you want any other person to be able to give us instructions by electronic equipment we can issue them with security codes, but you must ask us to do so in writing.

16.3 You are responsible for security codes once we send them to you (or the authorised person) even if any other person receives or uses them.

16.4 You must instruct us in writing if you want to cancel a security code issued to you or an authorised person.

16.5 We may cancel a security code without notice.

Protecting security codes, cheque books and passbooks

16.6 You and each authorised person must take all necessary steps to prevent unauthorised or fraudulent use of your or their security codes, cheque books or passbooks.

16.7 For example, you and each authorised person must:

§ memorise a PIN/password and destroy PIN/password notifications as soon as possible after receiving or selecting the PIN/password;

§ not record any PIN/password (except where it is disguised in a way that others are not able to decipher it);

§ when selecting a PIN/password, not select an obvious word or number or one that can be easily guessed by someone else (such as a date of birth, middle name, family member’s name or telephone number);

§ not voluntarily tell anyone their PIN/password or let anyone find out their PIN/password – not even family or friends, a joint accountholder with you, a member of our staff, or someone giving assistance on a technical helpdesk in connection with any services;

§ not record a PIN/password (disguised or not) on electronic equipment or on a physical device that is a security code or computer;

§ change PIN/passwords regularly or, at minimum, whenever we or our systems require you or the authorised person to do so;

§ not select a PIN/password they have used before;

§ not voluntarily give their security code to any other person;

§ if they use SMS banking, not leave their mobile phone unattended or give any person access to their mobile phone in a way that allows them to access SMS banking through their mobile phone;

§ keep their passbook or cheque book secure (including keeping it in a safe place).

16.8 Neither you nor an authorised person may keep records (disguised or not) of a PIN/password near records of an account (such as an account number) or other security code device. For example:

Never keep PIN/password records together with account records, cards or mobile phones etc

in a briefcase, bag, wallet or purse (even if in different compartments);

in a car (even if in different areas of the car);

at home in the one item of furniture, even if in different compartments (for example, different drawers of the same bedroom dresser);

in a situation where, if a thief finds a card, mobile phone or other physical device to access electronic equipment they also find the record of the PIN/password.

Loss, theft or misuse of security codes, passbooks or cheque books

16.9 You and each authorised person must notify us at our contact centre as soon as you or they:

§ become aware that your or their security code, passbook or cheque book may have been lost or stolen; or

§ suspect that someone knows your or their or any other authorised person’s PIN/password; or

§ suspect or become aware that there has been unauthorised access to an account or use of a security code, passbook or cheque book; or

§ become aware that your or their computer or mobile phone which you or they use to access any electronic banking services may have been lost or stolen; or

§ become aware that your or their mobile number has changed.

16.10 You are liable for any unauthorised transactions that occur on the account linked to a lost, stolen or misused security code, passbook or cheque book until you have notified us in writing unless there was a delay due to our communication channels being unavailable.

16.11 Our decision in relation to a breach of the security procedures or where a security code, passbook or cheque book has been lost or stolen is final and binding on you.

Precautions when using electronic banking services

16.12 You and each authorised person must take the following precautions when using electronic banking services.

Take the following precautions

Not allow anyone else to operate any electronic banking services on your or their behalf.

Not leave electronic equipment unattended while you or they are on-line to any electronic banking service. This applies whether electronic equipment is sourced independently of us or provided by us in our branches or other premises.

If you or they access any electronic banking service from electronic equipment in one of our branches, you or they must ensure that you or they have gone off-line before leaving the branch.

Not access any electronic banking services from any electronic equipment connected to a local area network (or LAN), such as an office environment, without first making sure that no one else is able to observe or copy your or their access or otherwise gain access to the electronic banking service by that electronic equipment, network or environment.

Not allow anyone else to observe your or their PIN/password when you or they enter it into any electronic equipment.

Requests for security code or account details

16.13 After you initially open an account or register for electronic banking services, we will never contact you or an authorised person, or ask anyone to do so on our behalf, with a request to disclose the account details or security code. If you or an authorised person receive such a request from anyone (even if they are using our name and logo and appear to be genuine), you or they must not disclose the account details or security code. You or the authorised person must notify us as soon as possible.

Recovered security code

16.14 If you or an authorised person recovers a lost or stolen security code, you or they must return that security code to us without using or attempting to use it.

Consent to videoing

16.15 By using a product or security code you and each authorised person consents to us videotaping or recording you or them on camera at terminals or other facilities where you or they use the product or security code.

17 Liability for transactions

Disputed transactions

17.1 If there is a disputed transaction involving a card (except a prepaid card or gift card), a card number or a cheque and the card or cheque book was delivered to you or an authorised person, you must prove that the card or cheque was not used or issued by you or an authorised person at the time the disputed transaction was entered into or recorded (otherwise you are liable).

Your liability for transactions

You will be liable for any loss incurred if you act fraudulently or due to your wilful misconduct.

17.2 You are liable for the following transactions that occur on an account linked to a security code, passbook or cheque book:

§ transactions carried out with your knowledge and consent;

§ transactions carried out by an authorised person, unless you have told us to cancel that authorised person’s security code, and if relevant, you have taken all reasonable steps to have any security code device issued by us, returned to us; and

§ transactions carried out by any other person using a security code, passbook or cheque book (unless you have told us to cancel that security code, passbook or cheque book, and if relevant, you have taken all reasonable steps to have any security code device issued by us returned to us). This includes where a transaction which is carried out by someone other than you or an authorised person with or without your knowledge and consent, and applies even where you have complied with our requirements regarding safeguarding security codes, passbooks or cheque books.

However, this clause does not apply to prepaid cards or gift cards.

Also see clause 34 which sets out circumstances where we are not liable to you for loss.

18 Interest, fees and charges

You need to ensure you are aware of and understand the interest, fees and charges referred to in these Customer Terms and additional interest, fees and charges that may be payable by you in connection with our banking agreement. These are set out in the tariff sheet or are available by contacting us at one of our branches or by using phone banking.

Our tariff sheets and product brochures are revised periodically and you must pay the interest, fees and charges applying at the relevant time.

Interest & fees

18.1 You must pay the interest, fees and charges applying to a product from time to time. Interest rates and fees and charges are revised periodically. You can find out current rates and fees and charges by contacting us at one of our branches, by using phone banking or by visiting our website.

Service fees

18.2 Additional fees and charges may apply in the case of services provided in connection with a product. For example, the use of electronic banking services, or for certain types of payments and deposits such as foreign currency deposits and telegraphic transfers (including fees charged by third party service providers).

Government charges

18.3 You must also pay us an amount equal to any government charges and duties (however described) on or in connection with our banking agreement. These are payable whether or not you are primarily liable for those charges and duties.

Withholding tax

18.4 Interest earned by you for a product may be subject to withholding tax in accordance with applicable law.

18.5 If a law requires you to deduct any tax from a payment to us, you must increase the amount payable so that, after making the deduction, we receive the amount we would have received if no deduction had been required. You agree to deduct the amount for the tax, pay that amount to the relevant authority in accordance with applicable law and give us the original receipts.

Value added tax

18.6 All payments to be made by you in connection with our banking agreement are calculated without regard to any goods and services tax, consumption tax, value added tax or any tax of a similar nature. If any of these types of taxes is payable in connection with the payment, you must pay us an additional amount equal to the payment multiplied by the appropriate rate of tax. You must do so at the same time as making the payment.

Default interest

18.7 From the time any amount under our banking agreement is overdue for payment until it is paid, you must pay interest at the default rate on the overdue amount when we ask.

Calculation

18.8 Any interest or fee payable under our banking agreement accrues, and is calculated in accordance with our usual practice. If we agree to capitalise interest (or if default interest is charged under clause 18.7), we may add to the outstanding principal amount any interest under this clause which has not been paid. You are then liable for interest under this clause on the total amount.

No refund

18.9 You are not entitled to any refund of any interest, fee or charge you have paid or subsidy you have received including where you do not use a product or our banking agreement ends.

Cancellation by you

18.10 If you end our banking agreement or cancel any product before using it, we may retain, or require you to pay, interest, fees and charges in connection with our banking agreement or the product before you ended or cancelled it.

19 You indemnify us

19.1 You indemnify us against, and must pay us on demand for, any loss we reasonably incur in connection with:

§ any account, the establishment and provision of any product or any other transaction contemplated by our banking agreement;

§ searches and enquiries we make in connection with you or a security provider (including checking for insolvency);

§ instructions you or an authorised person gives us (including those sent by electronic equipment);

§ any tax payable by us on, or calculated by reference to, any amount paid or payable by you under our banking agreement (excluding any tax payable by us by reference to our net income);

§ us acting on, delaying or refusing to act on instructions from you or an authorised person or taking action against you or an authorised person;

§ a default;

§ any amount payable by you under our banking agreement being repaid, discharged or made payable before its due date (the loss we incur includes our loss in connection with unwinding, terminating or changing arrangements we have made to fund or maintain our funding of any product);

§ an increased cost in our funding in connection with a change in law;

§ any person exercising, or not exercising, rights under our banking agreement or any security (including enforcement action).

19.2 If we ask, you must appear and defend at your own cost and expense any action which may be brought against us in connection with our banking agreement.

19.3 You must sign any document we reasonably require to give further effect to this clause including in connection with instructions sent by electronic equipment or lost passbooks, cheque books or security codes.

20 Payments - generally

We (and each other member of the Standard Chartered Group) have rights to set off any amount we (or any other member of the Standard Chartered Group) owe you against any amount you owe us (or any other member of the Standard Chartered Group). Please see rights of set off below.

Payments in full

20.1 All payments you must make to us under our banking agreement must be received by us on the due date in full in immediately available funds in the currency we specify and without set off, counterclaim or deduction or withholding (including on account of any tax) unless the deduction or withholding is required by law.

Right of set off

20.2 We may set off any amount we owe you against any amount you owe us (whether or not the obligation is matured or contingent). We may also combine or consolidate all accounts. If we combine accounts, we will apply any credit funds held by you in your accounts to reduce the amount owing by you in relation to your other accounts. We may do so at any time (even if you are not in default).

20.3 If you have a joint account, we may set off any amount we owe you against any amount owing to us in any one accountholder’s account.

20.4 Each member of the Standard Chartered Group may set off any amount it owes you against any amount you owe to it or any other member of the Standard Chartered Group (whether or not the obligation is matured or contingent). Each member of the Standard Chartered Group may also combine or consolidate all accounts. If any member of the Standard Chartered Group combines accounts, any credit funds held by you in your accounts will be applied to reduce the amount owing by you in relation to your other accounts. Each member of the Standard Chartered Group may do so at any time (even if you are not in default).

20.5 If you have a joint account, each member of the Standard Chartered Group may set off any amount it owes you against any amount owing to it or any other member of the Standard Chartered Group in any one accountholder’s account.

20.6 For the purposes of clauses 20.2, 20.3, 20.4 and 20.5, each member of the Standard Chartered Group may make any necessary currency conversions at the rate they reasonably consider appropriate.

Banking days

20.7 Unless otherwise stated in the product terms, if an amount is due on a day which is not a banking day, you must still pay it on or before that day.

Debiting accounts

20.8 We may debit (without notice to you) any interest, fees, charges or any other amount you owe us in connection with a product to the account for the product.

Insufficient funds

20.9 If you have insufficient funds in any account in respect of which we are entitled to debit amounts you owe us, yet we still decide to debit the account, our action does not constitute a waiver or otherwise affect our rights under our banking agreement.

How we apply payments

20.10 Payments are taken to be made when we credit them to the account. We do this as soon as practicable after receipt.

20.11 Unless set out in the product terms or you direct us otherwise, we may use amounts we receive under our banking agreement to pay amounts you owe us in any order we choose.

Payments into suspense account

20.12 We may place in a suspense account any payment we receive in connection with our banking agreement for so long as we consider appropriate. This is to protect our rights against other amounts you or a security provider may owe us.

Insolvent payments

20.13 Under insolvency law, a person may demand the refund of a payment we have received under our banking agreement. To the extent we are obliged to do so or we agree to make a refund, we may treat the original payment as if it had not been made. We are then entitled to our rights against you under our banking agreement as if the payment had never been made.

21 Currency conversion and indemnity

Currency of payment

21.1 We may make currency conversions in respect of any amount received by us from you or due to you from us at a rate we reasonably consider appropriate. You indemnify us for any shortfall arising from the conversion.

Payment in other currency

21.2 You waive any right you have in any jurisdiction to pay any amount other than in the currency in which it is due. If we receive an amount in a currency other than that in which it is due:

§ we may convert the amount into the due currency on the date and at rates we reasonably consider appropriate. We may deduct our costs incurred in the conversion; and

§ you satisfy your obligations to pay in the due currency only to the extent of the amount of the due currency obtained from the conversion after deducting the costs of the conversion.

Currency restrictions

21.3 You must comply with all exchange control laws in connection with our banking agreement. If a country restricts the availability or transfer of its currency, we need not make any payment to your account in that currency. We may make the payment in any currency we consider appropriate.

Currency conversion on judgment debt

21.4 If a judgment, order or proof of debt for or the recovery of an amount in connection with our banking agreement is expressed in a currency other that that in which the amount is due under our banking agreement, then you indemnify us against:

§ any difference arising from converting the other currency if the rate of exchange we use under our banking agreement for converting currency when we receive a payment in the other currency is less favourable to us than the rate of exchange used for the purpose of the judgment, order or acceptance of proof of debt; and

§ the costs of conversion.

22 Information you give

Information must be correct

22.1 Each time we offer a product to you or you use a product, we rely on the information you give to us. It must be correct, complete and not misleading.

You must notify us if you become aware that any information you have given is incorrect or misleading.

What you must give us

22.2 If we ask, you must give us any information about or documents in connection with:

§ our banking agreement; or

§ your financial affairs.

All information or documents must be in the form we require and certified by you to be true.

22.3 You must get the consent of other persons named in a customer information form, an application or any authorised person to our collection, holding and use of their personal information.

Representations

22.4 You represent and warrant that:

§ your obligations under our banking agreement (and the obligations of any security provider) are valid, binding and enforceable;

§ all the information given by you or on your behalf is correct, complete and not misleading and each representation made by you to us is correct and not misleading;

§ since the date the information was given there has been no change in your financial circumstances which may have a material adverse effect on your ability to meet any of your obligations to us;

§ you have not withheld any information that might have caused us not to enter into our banking agreement or provide any product to you;

§ unless otherwise stated in the application, you are not entering into our banking agreement or transacting with us as a trustee, agent or nominee. (This means you are liable as principal);

§ if we accept your application to enter into our banking agreement or transact with us as a trustee, executor, agent or nominee, you are authorised to do so;

§ you are not in default and no event has occurred which may, with the giving of notice or lapse of time or fulfilment of any condition, become a default.

You repeat these representations and warranties every time you apply for a product or make any transaction on a product or account. You must notify us whenever anything happens which would mean you could not truthfully repeat these representations and warranties.

23 Information we give

Any information we give to you is for reference purposes only. We are not liable for the accuracy or completeness of the information given.

24 Information we disclose

24.1 You consent to each member of the Standard Chartered Group, its officers, employees, agents and advisers disclosing information relating to you (including details of the accounts, products or any security) to:

§ our head office and any other member of the Standard Chartered Group in any jurisdiction (“permitted parties”);

§ professional advisers, service providers or independent contractors to, or agents of, the permitted parties, such as debt collection agencies, data processing firms and correspondents who are under a duty of confidentiality to the permitted parties;

§ any actual or potential participant or sub-participant in relation to any of our obligations under our banking agreement between us, or assignee, novatee or transferee (or any officer, employee, agent or adviser of any of them);

§ any credit reference agency, rating agency, business alliance partner, insurer or insurance broker of, or direct or indirect provider of credit protection, or any permitted parties;

§ any court, tribunal or authority (including an authority investigating an offence) with jurisdiction over the permitted parties;

§ a merchant or a member of a card association where the disclosure is in connection with use of a card;

§ any authorised person or any security provider;

§ anyone we consider necessary in order to provide you with services in connection with an account.

24.2 We may disclose your information to parties specified in clause 24.1 (Information we disclose) for the purposes of:

§ understanding your needs;

§ risk management;

§ outsourcing or consolidating our operations;

§ any sale of assets or corporate exercise;

§ procuring credit protection; or

§ undertaking any note issue.

25 Statements and records

25.1 We issue statements for accounts periodically as set out in the product terms. However, we may not issue statements if an account is inactive, there have been no transactions since the previous statement or where we are not required by law to do so. You may ask for a single statement for each account or a consolidated statement (if available). You are responsible for checking them for errors. Information about accounts (including the balance owing) may be obtained at any other time by contacting us.

25.2 If your instructions are to give you a consolidated statement (if available) you acknowledge that we will not also issue separate statements for individual accounts.

If you think there is a mistake

25.3 You should retain all transaction records to enable you to verify entries. You must check these entries and your passbook entries for accuracy as soon as you receive your statement. You must report any mistaken or unauthorised transactions to us as soon as possible. Unless otherwise stated in the product terms, if you do not report any mistake within 21 days after the date of the statement, we treat the statement as correct.

25.4 The date which appears on the transaction record may vary from the date that appears on your statement. This is because transactions completed on non-banking days and after “cut-off” time on banking days may be held over to be processed on the next banking day.

Reversals

25.5 We may cancel, reverse or debit any payment we make under our banking agreement (including any interest paid) and make any corresponding adjustments to an account:

§ to correct a mistake;

§ where we have not received cleared and unconditional funds in full or promptly;

§ where we are required to return the funds to the relevant payer or drawer; or

§ where we have reasonable grounds for doing so.

Our records are conclusive

25.6 Unless there is an obvious mistake:

§ our records (whether in paper, electronic, data or other form) of an instruction, report, statement or other communication are conclusive evidence of their contents or our receipt or non-receipt of them; and

§ any certificate or decision we make about a matter or an amount payable in connection with our banking agreement is conclusive evidence.

25.7 You acknowledge that we may destroy, erase or otherwise cease to maintain any records (whether in paper, electronic, data or other form) as we consider appropriate after such time as permitted by applicable law.

26 How our banking agreement, or your use of a product, ends

Termination by either party

26.1 Either you or we may end our banking agreement or your use of a product by giving the other party prior notice in writing in accordance with our banking agreement.

26.2 If you have more than one account, you may not cancel certain electronic banking services for any one account only (unless we otherwise agree).

Termination by us

26.3 We may end our banking agreement or your right to use any product with or without notice to you if:

§ you or any security provider have given us incorrect, incomplete or misleading information or made a representation or warranty that is incorrect or misleading; or

§ you have breached any term of our banking agreement or any other arrangement you have entered into with a member of the Standard Chartered Group or a security provider has breached any term of any security. (This includes if you or a security provider has not paid us an amount required or ensured there are sufficient funds available in an account which has been nominated for debiting payment.); or

§ another financial institution has suspended or terminated your use of any banking facility; or

§ you or any security provider becomes insolvent or any of your or their assets are subject to insolvency proceedings; or

§ you or any security provider dies or becomes incapacitated; or

§ you or any security provider acts fraudulently or dishonestly; or

§ any of your or any security provider’s property is subject to enforcement of a judgment by any party; or

§ you are convicted of a crime; or

§ legal proceedings to recover debts or criminal proceedings are commenced against you; or

§ any other event of default set out in our banking agreement occurs; or

§ performance of any obligation by either you or us under our banking agreement or a security provider under any security is or is likely to breach a law or a requirement of any authority.

Additional rights to terminate

26.4 The product terms or these Customer Terms may specify additional circumstances in which you or we may end your right to use a product.

27 Suspension

We may suspend providing a product at any time for any reason (even if there is no default). If we do, we notify you as soon as practicable. We agree to suspend provision of a product if you ask us to do so in writing.

28 Stopping a transaction

We may stop certain transactions being conducted using a product at any time if:

§ you have breached any term of our banking agreement or any other arrangement you have entered into with a member of the Standard Chartered Group; or

§ we suspect a transaction on an account may be illegal; or

§ there is a dispute over who owns funds in an account; or

§ we must do so to comply with a court order or order from an authority.

If we stop a transaction being conducted using a product, we notify you as soon as practicable.

29 Conversion of accounts

We may convert any account into another type of account if we consider it appropriate to do so and we give you reasonable notice in writing before we do so. If you do not instruct us that you want to close the account before expiry of the notice period, we will proceed to convert the account.

30 What happens on termination

Banking agreement

30.1 After our banking agreement ends, you must:

§ not use any product;

§ immediately repay all amounts owing to us including the total of the balance owing for all accounts;

§ do any other thing which our banking agreement requires to be done when your right to use the product ends.

Specific products

30.2 After your right to use a specific product ends, you must:

§ not use the product;

§ immediately repay all amounts owing to us (including the balance owing for the account for that product);

§ do any other thing which our banking agreement requires to be done when your right to use of the product ends.

No effect on rights and liabilities

30.3 Ending our banking agreement, or the right to use a product, does not affect any of the rights and obligations of either of us, which arose before it ended. You are not entitled to any refund of any fee or amount paid or subsidy received in connection with any product. All provisions in our banking agreement in connection with clawbacks, indemnities, limitation of liability, disclosure of information, set off, currency conversion, tax, and the provisions in Part I (Security) and Part J (General) survive termination of our banking agreement.

Review of entitlements

30.4 After our banking agreement ends, we may review and withdraw any promotional or preferential arrangement that applies to you.

31 Enforcement

We may take any action we consider appropriate to enforce our banking agreement or any security including:

§ employing any third party agent to collect any amount owing to us;

§ attaching the balance owing for your accounts to your or a security provider’s property;

§ taking steps to enforce our rights against your or a security provider’s property such as by lodging caveats;

§ commencing legal proceedings against you or a security provider.

32 Security

Banker’s lien

32.1 In addition to any other security we require to secure the balance owing for your accounts and any amount which you may owe us in the future, all your credit balances, money, securities, documents, instruments and other valuables deposited with us are, on deposit, subject to a banker’s lien to us. Without limiting our other rights, we may set off any such amounts against, or apply the lien as security for, any obligations you owe to us. If you are in default, we may sell or deal with the property to satisfy your obligations to us. We may do so without notifying you.

Security over all assets

32.2 In addition to any other security we require and our banker’s lien under clause 32.1, we hold all your assets (including those assets deposited with us for any purpose) as security for the balance owing for your accounts and any amount which you may owe us in the future. Without limiting our other rights, we may set off any such amounts against, or apply the security created by this clause as security for, any obligations you owe to us. If you are in default, we may sell or deal with your assets to satisfy your obligations to us. We may do so without notifying you.

Further security

32.3 You must do anything we ask (such as obtaining consents, signing and delivering documents and getting documents completed and signed) to:

§ provide further or more effective security to us to secure any balance owing for your accounts and any other amount which you may owe us in the future; and

§ to allow us to exercise our rights in connection with your assets.

No dealings

32.4 You must not create or allow to exist any security interest or otherwise deal with any assets that are the subject of security without our consent.

Security continues until release

32.5 Any security continues until we have released it.

Appointment as attorney

32.6 You irrevocably appoint us and any other person we nominate as your attorney to execute documents and take other action that we consider necessary to perfect and enforce any security (including dealing with any of the assets which are the subject of the security).

33 Valuation and insurance

Valuation

33.1 If we ask, you must arrange, pay for and provide us with a valuation report in connection with the assets that are the subject of any security. Any valuation report must be in accordance with any requirements we specify. Alternatively, we may obtain a valuation report at your cost.

Insurance

33.2 For some products, we require insurance to be maintained, for example life insurance or insurance over any assets which are the subject of security. Any insurance policy must be with an insurer that we approve and for the risks that we specify. Alternatively, we may require you to pay for insurance we arrange.

33.3 Our interest must be noted on the insurance policy and you must ensure that any amount paid by the insurer under the policy is paid to us. If we ask, you must give us a copy of the policy.

33.4 If we arrange insurance for your benefit, you must pay all amounts the insurer requires in connection with the policy. If a claim is unsuccessful, you may not claim against us and we are not liable for any loss you incur.

34 General

Exclusion of liability

34.1 Unless a law prohibits us from excluding or limiting our liability, we are not liable for any loss you incur in connection with our banking agreement (including in connection with the provision of any product, unavailability or improper functioning of an electronic banking service, delay or error in the transmission of any electronic payment transfer, delay in providing you funds under our banking agreement, misrepresentation, your or an authorised person’s instructions or any unauthorised instructions, termination of our banking agreement, our refusal to act on any instruction, or any other thing we do or do not do). This applies where the loss arises for any reason and even if the loss was reasonably foreseeable or we had been advised of the possibility of the loss. However, we are liable for your direct loss to the extent it is directly caused by our fraud or wilful misconduct. This clause 34.1 is subject to clause 17.

We take no responsibility for your decisions

34.2 We are not responsible for any decision you make:

§ to enter into our banking agreement;

§ to use any product;

§ about any features of any product (including the interest rate or any fees or charges payable under it).

While some employees are authorised to give you certain types of information about our products, neither our employees nor our agents have any authority to make representations or predictions or give any opinion about anything in connection with our banking agreement.

We are not liable for any loss if they act without authority. However, if you consider that any representation has been made to you that is not set out in our banking agreement, you need to give us details in writing so that we can clarify it.

If you, any authorised person or any security provider has any concerns about these things, the terms of our banking agreement or any security, we recommend you or they get help from an independent financial adviser or lawyer.

Other services

34.3 We are not responsible for any services through which you or an authorised person accesses any electronic banking services or by which you or an authorised person obtains any security codes that are not controlled by us and we are not liable for any loss you incur in connection with that service. You are responsible for complying with all the terms and conditions of using that service and paying all the charges in connection with it.

Hyperlinked sites

34.4 We are not responsible for, do not endorse, and make no representation or warranty in connection with, any hyperlinked internet sites on our website. We are not responsible for any loss you incur in connection with those hyperlinked sites.

Circumstances beyond our control

34.5 We are not liable for any loss you incur in connection with our inability or delay in receiving or executing instructions due to any circumstances beyond our control.

34.6 If any circumstances beyond our control occur, we may take any action we consider appropriate in connection with your account.

Further steps

34.7 You must do anything we ask (such as obtaining consents, signing and producing documents and getting documents completed and signed):

§ to bind you and any other person intended to be bound by our banking agreement;

§ to show whether you are complying with our banking agreement; and

§ to confirm anything done by us in the proper exercise of our rights under our banking agreement.

Prompt performance

34.8 If our banking agreement specifies when you must perform an obligation, you must perform it by the time specified. You must perform all other obligations promptly.

Time of the essence

34.9 Time is of the essence in respect of your obligations to pay any money.

Waiver

34.10 A provision of our banking agreement, or right created under it, may not be waived except in writing signed by the party or parties to be bound and is only effective for the purpose for which it is given.

Variation of our banking agreement

34.11 You acknowledge that various features of a product may be changed from time to time, including fees (such as foreign currency conversion fees, late payment fees), interest rates, the basis for calculating interest rates and the margin without notice to you. However, we may also vary any of the other terms of our banking agreement by notice to you in accordance with our usual practice and in accordance with any applicable law. This may include giving notice to you by public announcement as set out in clause 7.3. The product terms may set out specific steps we must follow to effect a variation.

Additional services

34.12 From time to time we offer incentive programmes or value added services in connection with a product offered by us or a third party. We may vary or withdraw the programmes or services at any time. Please contact us if you want to find out more information about the terms of the programmes or services.

How we may exercise our rights

34.13 We may exercise a right or remedy, give or refuse our consent or approval in connection with our banking agreement in any way we consider appropriate, including by imposing conditions. We need not give you reasons for any decision we make.

34.14 If we do not exercise a right or remedy fully or at a given time, we can still exercise it later.

34.15 Except for a waiver or variation in accordance with clause 34.10 or 34.11, nothing we do suspends, varies or prevents us from exercising our rights under our banking agreement.

34.16 We are not liable for any loss caused by the exercise or attempted exercise of, failure to exercise, or delay in exercising, a right or remedy, whether or not caused by our negligence.

34.17 Our rights and remedies under our banking agreement and any security:

§ are in addition to other rights and remedies given by law independently of our banking agreement or the security;

§ do not merge with and are not adversely affected by any other security and may be executed independently or together with any rights or remedies including under any other security; and

§ may be exercised even if this involves a conflict of duty or we have a personal interest in their exercise; and

§ are not affected by any payment, settlement or any thing which might otherwise affect them at law including:

- us varying our banking agreement such as by providing you with additional products or replacing existing products;

- you opening an account;

- an account not being active;

- us releasing you or a security provider or giving them a concession, such as more time to pay;

- the fact that we release or lose the benefit of any security;

- the death, mental or physical disability or insolvency of any person (including you or a security provider).

34.18 Our rights and remedies under our banking agreement may be exercised by any of our authorised employees or any other persons we authorise.

Complying with a court order

34.19 If we are served with a court order, we act in accordance with the court order and you must not commence proceedings against us in relation to our actions under the court order.

Consents

34.20 You must comply with all conditions in any consent or approval we give in connection with our banking agreement.

Conflicting claims

34.21 If we consider any funds in any account may be subject to conflicting claims, we may take action (including getting legal advice or taking legal proceedings) to determine the matter. We may act in accordance with any determination and we are not liable to you for any loss you incur.

Indemnities

34.22 The indemnities in our banking agreement are continuing obligations, independent of your other obligations under them. It is not necessary for us to incur expense or make payment before enforcing a right of indemnity in connection with our banking agreement.

Commissions

34.23 We may pay or receive a fee or commission to or from a third party if you are introduced to us or by us (if required by law, after you have consented to the introduction). If you ask we will give you details of those arrangements.

Outsourcing

34.24 We may employ independent contractors and agents (including correspondents) to perform any of our obligations under our banking agreement or provide a product on terms we consider appropriate.

Dealings

34.25 You must not assign or transfer your rights and obligations under our banking agreement to anyone without our consent first.

34.26 We may assign or otherwise deal with our rights under our banking agreement (including any particular product or account) in any way we consider appropriate. If we do this, you may not claim against any assignee (or any other person who has an interest in our banking agreement) any right of set off or other rights you have against us. If we ask, you must execute and give us or any other person we specify any document we reasonably require for this purpose.

No breach

34.27 Nothing in our banking agreement requires us to do or not do anything if it would or might in our reasonable opinion constitute a breach of our policy or any applicable law or requirement of any authority.

We act on banking days

34.28 We only act on certain instructions or provide a product on a banking day.

Opening further accounts

34.29 We may open an account to administer any transactions for any product.

Severability

34.30 If and to the extent that an applicable law is inconsistent with our banking agreement in a way that would otherwise have the effect of making:

§ a provision of our banking agreement illegal, void or unenforceable; or

§ a provision of our banking agreement contravene a requirement of that law or impose an obligation or liability which is prohibited by that law,

then the law overrides our banking agreement to the extent of the inconsistency, and our banking agreement is to be read as if that provision were varied to the extent necessary to comply with that law and avoid that effect (or, if necessary, omitted).

If any term of our banking agreement is invalid, unenforceable or illegal in a jurisdiction, that term is read as varied or severed (as the case requires) only for that jurisdiction. All other terms continue to have effect in that jurisdiction.

Third party rights

34.31 Our banking agreement does not create or confer any rights or benefits enforceable by any person not a party to it except:

§ a member of the Standard Chartered Group may enforce any rights or benefits in our banking agreement;

§ a member of the Standard Chartered Group may enforce the rights or benefits of any indemnity, limitation or exclusion of liability in our banking agreement; and

§ a person who is a permitted successor or assignee of the rights or benefits of our banking agreement may enforce those rights or benefits.

No consent from the persons referred to in this clause is required for the parties to vary or rescind our banking agreement (whether or not in a way that varies or extinguishes rights or benefits in favour of those third parties).

Change in constitution

34.32 All securities, agreements, obligations given or undertaken by you or a security provider remain valid and binding despite any change in our, your or a security provider’s constitution by amalgamation, consolidation, reconstruction, death, retirement or otherwise.

Anti-money laundering and counter terrorism financing

34.33 In order to comply with anti-money laundering laws, counter terrorist financing laws, regulations and policies (including our policies), reporting requirements under financial transactions legislation and requests of authorities, the Standard Chartered Group may be:

§ prohibited from entering or concluding transactions involving certain persons or entities; or

§ required to report suspicious transactions to an authority. Transactions impacted include those that may:

- involve the provision of finance to any person involved or suspected of involvement in terrorism or any terrorist act;

- be relevant to investigation of an actual or attempted evasion of tax law, investigation of or prosecution of a person for an offence against any applicable law; or

- involve persons or entities which may be the subject of sanctions.

34.34 A member of the Standard Chartered Group may intercept and investigate any payment messages and other information or communications sent to or by you or on your behalf and may delay, block or refuse to make any payment. Payment screening may cause a delay in processing certain information.

34.35 No member of the Standard Chartered Group is liable for any loss arising out of any action taken or any delay or failure by us, or a member of the Standard Chartered Group, in performing any of its duties or other obligations, caused in whole or in part by any steps taken as set out above.

Counterparts

34.36 Our banking agreement may consist of a number of copies, each signed by one or more parties. The signed copies form one document.

Governing law

34.37 Our banking agreement is governed by the laws of Malaysia.

Jurisdiction

34.38 The parties submit to the non-exclusive jurisdiction of the courts of Malaysia. We may take enforcement action and initiate proceedings in the courts of any other jurisdiction where you have assets. To the extent allowed by law, we may take proceedings in any number of jurisdictions at the same time. You may only initiate an action in the courts of Malaysia.

Serving documents

34.39 Without preventing any other method of service, any document in a court action may be served on a party by being delivered to or left at that party’s address last notified.

36 Meaning of words

You also need to refer to the product terms which also define key words specifically applicable to the product. If a word defined in these Customer Terms is also defined in any product terms, the definition in the product terms applies for the purposes of the applicable product.

account means, for a product, the account opened and maintained by us for you in respect of it.

application means a Standard Chartered Bank application form signed by you together with all related forms and consents signed by you in connection with the application.

approval means, for a product, our confirmation to you that use of the product is approved by us.

ATM means an automated teller machine.

ATM card means the card or other device through which you may access an account by an ATM, together with the relevant PIN/password.

authorised person means any person you authorise (either alone or collectively) and we approve to operate an account and to act on your behalf in giving instructions, to perform any other acts under our banking agreement or use any product. It includes a cardholder or any other person given a security code to allow them to give instructions.

balance owing means, for a particular account, at any time, the difference between all amounts credited and all amounts debited to you in connection with that account at that time. When this amount is to be calculated for the end of a day, it includes all debits and credits assigned to that day.

card means an ATM card, a debit card, a credit card, a prepaid card or a gift card or all of them, as the context requires.

card association means Visa International, MasterCard International or any other card association.

cardholder means, for an account, each person to whom we issue a card on the account.

credit card means a credit card with the branding of a card association issued by us to you in accordance with credit card product terms.

circumstances beyond our control means circumstances beyond our reasonable control including natural events, steps taken or policies imposed by authorities, adverse market or trading conditions, failure of third parties, failure of communication or computer facilities and civil disturbances.

consolidated statement means a single statement setting out details (including the balance owing) of all accounts.

debit card means the card or other device issued by us to you, with which you may make payments by direct debit from an account. A debit card may also be an ATM card.

default means any of the events described or referred to in clause 26.3 (Termination by us);

default rate means, for a product, the rate of interest we charge from time to time on overdue amounts for the product (which is higher than the usual interest rate).

electronic banking services means services provided by us which enables you or an authorised person to obtain information from us or give instructions to us through electronic equipment.

electronic equipment means any electronic equipment including an electronic terminal (for example, a merchant terminal or ATM), computer, television, fax machine, telephone and mobile telephone.

eStatement means statements sent to or accessed by you by electronic means.

existing product or service means a product or service of a type the subject matter of which is covered by the terms of our banking agreement to the extent they are subject to separate terms and conditions.

fund transfer services means the services provided by us which enable you to transfer funds from the source account to another account under the electronic banking services.

gift card means a stored value non-reloadable card with a card logo issued to you by us.

insolvency or insolvent if any corporate action, legal proceedings or other step in relation to:

§ suspension of payments, moratorium of indebtedness, bankruptcy or composition or arrangement with creditors;

§ the appointment of a receiver, administrator in respect of you or any of your assets;

§ expropriation, attachment, sequestration, distress or execution affecting any of your assets or the enforcement of any security over your assets; or

§ any thing have a substantially similar effect to any of these things happening in any jurisdiction.

linked account means an account which is linked to a card.

loss includes any loss, damage, demand, claims, liabilities, costs (including legal costs), charges and expenses of any kind.

merchant means a merchant at whose outlets we have authorised the use of cards.

online banking means the electronic banking services provided by the internet.

online telegraphic transfer means an instruction given by you or an authorised person by the electronic banking services for an international funds transfer.

PIN/password means the personal identification number or question or other code or information given to, or selected by, you or an authorised person that is used to confirm your or their identity when they access an account.

point of sale banking means use of a card by you or an authorised person at a merchant’s terminal (for example, ePOS, EPS, NETS).

prepaid card means a stored value reloadable card with a card logo issued to you by us.

product means each facility, product or other service we may from time to time make available to you under our banking agreement.

product brochure means, for a product, a brochure describing the features of the product. The brochure may not necessarily be called a ‘product brochure’.

product terms means, for a product, the specific terms and conditions that apply to it, in addition to these Customer Terms. These are available to you at our branches and our website and may include a product brochure.

security means any security interest granted to us in connection with our banking agreement. It includes any security interest given under Part I (Security).

security code means a PIN/password or a physical device (for example, an ATM card, a debit card, credit card, token or electronic key) that you or an authorised person must use to confirm your or their identity when you or they access an account.

security interest means any security for the payment of money or performance of obligations including a mortgage, charge, pledge, lien or guarantee and indemnity.

security provider means each person who provides security.

SMS means a Short Message Service using a mobile telephone.

SMS alerts means the electronic banking service provided by SMS, by which we send you SMS messages to alert you to certain types of transactions or to provide certain financial information, as offered by us and selected by you.

SMS banking means the electronic banking services provided to you by SMS, by which you have access to accounts.

source account means the account designated by you, from which funds are to be used for a fund transfer under the fund transfer services or a payment under the bill payment services. The source accounts designated for separate transactions may be different accounts.

Standard Chartered Group means each of Standard Chartered PLC and its subsidiaries and affiliates (including each branch or representative office).

tariff sheet means, for a product, a document (which may not necessarily be called a ‘tariff sheet’) setting out some of the fees and charges that may apply to the product.

tax means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of it).

we means each member of the Standard Chartered Group identified in the application or the approval as the person providing the product (or any component of the product) to you, and its successors and assigns.

you means the person named as the “applicant” in the application. If there is more than one, you means each person separately as well as every 2 or more of them jointly.

The singular includes the plural and vice versa.

Headings in these Customer Terms are for convenience only and do not affect their interpretation.

A reference to:

§ “our banking agreement” means the agreement between you and us made up of the documents set out in clause 1.3;

§ a “banking day” is a reference to a day when banks are open for general banking business in Kuala Lumpur;

§ “person” includes an individual, a partnership, a body corporate, an unincorporated association, a government, a state, an agency of a state and a trust;

§ a reference to a person includes that person’s executors, administrators, successors, substitutes (including by novation) and assigns and our banking agreement binds those persons;

§ “including”, “such as” or “for example” when introducing an example does not limit the meaning of words to which the example relates to that example or examples of a similar kind;

§ a reference to a law includes any regulation, rule, official directive, request, or guideline (whether or not having the force of law) of any authority;

§ a document includes any variation or replacement of it; and

§ a reference to any thing includes any part of it.