The General Terms & Conditions shall apply to both the Accounts and the Services unless specified otherwise.
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PART 1 - GENERAL
1. DEFINITIONS & INTERPRETATION
1.1 Definitions : The following terms and expressions shall have the meaning assigned to them unless the context requires otherwise :-
(a) “Account” means the Customer’s deposit account with the Bank, whether conventional or Islamic account as the context may require, and includes any new accounts which may be opened in addition thereto or in substitution thereof from time to time. The term “Accounts” shall mean more than one account.
(b) “ATM” means an automated teller machine of the Bank and may include the automated teller machines of any other financial institution or entity as the Bank may inform the Customer of.
(c) “Authorised User” means the person or persons for the time being authorised in writing by the Customer to operate any or all the Accounts, use of the Services and/or issue any instructions or notices in respect of the Accounts and the Services and includes any person additionally authorised or substituted by the Customer.
(d) “Bank” means OCBC Bank (Malaysia) Berhad and includes its successors-in-title and assigns.
(e) “Business Day” means a day on which the Bank and its branches are opened for business in Malaysia and on which transactions of the nature contemplated herein are carried out and excludes bank and public holidays.
(f) “Card” means the card or any other electronic or computerised device/token which is issued by the Bank to the Customer and if permitted by the Bank, to an Authorised User to operate the Account and to utilise the Services and includes any replacement or renewed card or cards issued.
(g) “Customer” means the person who is a customer of the Bank whether individuals (natural persons), sole proprietorships, partnerships, companies, societies, statutory bodies and their respective heirs, personal representatives, executors, administrators, receiver, manager, liquidator and successors-in-title unless stated otherwise in these Terms and Conditions or the applicable law.
(h) “Electronic Terminal” means the electronic machines or terminals provided by the Bank to enable the Customer to perform the Services or any part thereof and includes ATMs, Quick Deposit Machines, ATM Cash-In and any other machines or terminals which the Bank may provide or introduce.
(i) “Electronic Services” means the electronic services as set out in Part 3A and 3B herein and includes any other electronic, telemetric, digital, visual, video or other additional or new services made available by the Bank from time to time.
(j) “Force Majeure” means any cause beyond the reasonable control of the Bank, including without limitation, unavailability of any communications system, failure of any mechanical or electronic device, data processing system or transmission line, failure of or disruption to power or utilities or communication systems or transmissions, sabotage, fire, flood, earthquake, explosion, acts of God, civil commotion, strikes, civil or industrial dispute of any kind, riots, insurrection, embargo, act of terrorism, war, acts or exercise of any governmental, military or usurped powers, requisition or any monetary or exchange control restrictions.
(k) “PIN” means the personal identification number issued by the Bank to the Customer and, if permitted by the Bank, to an Authorised User to use the ATM and includes any other PIN which may be issued by the Bank and all changes to the same made by the Customer or the Authorised User, as the case may be, from time to time.
(l) “Security Codes” means the security codes (including the Card, any password, PIN, TPIN, user name, encoded electronic strip and/or chip, digital certificate or any other security codes as the Bank may issue from time to time) given by the Bank to the Customer and, if permitted by the Bank, to an Authorised User to operate the Account and access the Electronic Services. The term “Security Code” shall refer to relevant security code for the relevant Electronic Service.
(m) “Services” means the services and the Electronic Services set out in Part 3 herein and includes any other additional or new services made available by the Bank.
(n) “Terms & Conditions” means these terms and conditions and shall include any variations, amendments and supplements made to the same by the Bank.
(o) “TPIN” means the personal identification number issued by the Bank to the Customer and if permitted by the Bank, to an Authorised User, for identifying the Customer through the telephone or through any other electronic means as required by the Bank and includes any other TPIN which may be issued by the Bank and all changes to the same made by the Customer or the Authorised User, as the case may be, from time to time.
1.2 INTERPRETATION
(a) Words importing the singular shall include the plural and vice versa. The words importing the masculine gender shall include the feminine and neuter gender and vice versa.
(b) Headings in these Terms and Conditions are inserted for convenience only and shall not affect the interpretation of these Terms and Conditions.
(c) Unless otherwise stated, a reference to time of a day shall be construed as reference to Malaysian time.
(d) Any reference to the provisions of any legislation or statute includes any statutory modification or re-enactment thereof.
(e) Where there are two or more persons comprised in the term “the Customer” :-
(i) instructions, agreements, undertakings, obligations expressed to be issued or given by or made by one person, shall be deemed to have been issued or given by or made by and binding upon such persons jointly and severally; and
(ii) any notice given by the Bank to any one of such persons shall be sufficient notice to all the accountholders and any notice or instructions issued by any one of the accountholders to the Bank shall be deemed to have been issued on behalf of all the accountholders and the Bank shall be entitled to act upon and rely on such notices or instructions without any enquiry.
Where the Customer has appointed an Authorised User or Authorised Users, all references to the “Customer” shall also refer to his/her Authorised User or Authorised Users.
(f) Any provision, liberty, power or discretion which may be exercised or determined by the Bank hereunder may be exercised or made in the Bank’s absolute and unfettered discretion at any time and from time to time and the Bank shall not be under any obligation to give any reason for the same.
2. ACCOUNT OPENING & SUBSCRIPTION OF SERVICES
2.1 Unless specified otherwise under these Terms and Conditions, the Accounts and the Services will be available to individual persons, sole proprietorships, partnerships, companies, societies, statutory bodies and such other entities as may be determined by the Bank.
2.2 The opening of the Accounts and the subscription for the Services are made through the respective application forms or in any other manner prescribed by the Bank and is subject to the Bank’s requirements and procedure (including those as to age, minimum deposit, references, information and supporting documents acceptable to the Bank) and to the terms and conditions specified in the relevant application form. In the event of any conflict between these Terms and Conditions and the terms and conditions in the application form, the latter will prevail. The Bank may vary such requirements without notice to any persons.
2.3 The Bank is entitled to refuse any application to open any Account or to subscribe for any of the Services without assigning any reason and the opening, operation and closure of the Accounts and the subscription, utilisation and termination of the Services shall be at the absolute discretion of the Bank.
2.4 By applying for the Accounts or subscribing to the Services, the Customer irrevocably consents and authorises the Bank to conduct credit checks and verify information given by the Customer to the Bank, whether in the application or otherwise, with any party (including without limitation, with any credit bureau or any organisation or corporation set up for the purpose of collecting and providing credit or other information) relating to the Customer.
2.5 Muslim Customers are responsible to ensure that their conduct of account is in accordance with the principles of Islam.
3. INSTRUCTIONS AND NOTICES FROM THE CUSTOMER
3.1 All notices given by the Customer to the Bank must be sent to the branch where the Account is opened/maintained and may be given by post, courier, telex, cable, facsimile transmissions or other means as may be permitted by the Bank and such notices are delivered when the Bank has acknowledged receipt of such notices.
3.2 The Bank shall be entitled to rely upon and act on the Customer’s instructions, whether oral or written and whether given by telephone, post, telex, cable, facsimile transmissions or other electronic means. Without prejudice to the generality of any provisions in these Terms and Conditions, the Bank shall be entitled to act on any instruction or notice from the Customer whether or not based on signature which appears to the Bank, by reference to the name and signature filed with the Bank, to be the signatures of:-
(a) the Customer; or
(b) any of the persons authorised by the Customer to issue any notice or instructions whatsoever on behalf of the Customer,
without enquiry on the part of the Bank as to the identity of the person giving or purporting to give such notices or instructions or as to the authenticity of such notices or instructions notwithstanding that it is subsequently shown that the same was not given by or on behalf of the Customer. The Bank’s rights under these Terms and Conditions shall not be affected by any misuse or unauthorised use of such communication. The risk of the notices or instructions being given by unauthorised persons, any misunderstanding or any error, loss or delay resulting from the use of telephone, postal services, telex, cable devices, facsimile transmission or other electronic means are entirely the risk of the Customer and the Customer shall indemnify the Bank against all losses, damages, claims, demands, costs and all other liabilities which it may incur or suffer in consequence of its accepting and acting on such instructions. Acceptance and action by the Bank of any instructions of the Customer may be subject to any terms and conditions determined by the Bank.
3.3 Subject to Clause 3.1, the Customer shall immediately inform the Bank of any changes that may directly or indirectly affect the operation of the Account and/or Services including but not limited to change of name, address, contact details, resident status, constitution or composition of the sole proprietorship or firm/partnership of the Customer, authorised signatories/Authorised User or other particulars of the Customer or the Account by giving written notice to the Bank, failing which the Bank shall be entitled to rely on the last known particulars registered with the Bank. Where the Customer instructs the Bank to change any of its particulars or vary any of its instructions immediately (including the closure of its Account or Accounts or the termination of the Services or any part thereof), the Bank will effect the instructions at least three (3) Business Days (or any other time period as may be stipulated by the Bank) after the receipt of such notice provided such written notice is delivered to the branch where the Account is opened/maintained.
3.4 In any of the following events :-
(i) if there is any instructions/change of instructions or countermanding instructions received by the Bank, the authority of which the Bank in good faith doubts; or
(ii) where there are changes in the name, constitution or composition or dissolution of the Customer whether due to retirement, resignation, incapacity, bankruptcy, winding-up, insolvency or otherwise; or
(iii) where in the sole opinion of the Bank there is a dispute in relation to any of the Accounts,
the Bank may:
(a) place a hold on the Account or Accounts, as the case may be, until the Bank receives written instructions from all the accountholders/partners/directors in respect of the Customer or from the party(ies) who the Bank is of the sole opinion has the lawful authority to give instructions on such Account or Accounts; or
(b) close the Account or Accounts.
4. NOTICES FROM THE BANK
4.1 At the absolute discretion of the Bank, the Bank may give any communication or notice to the Customer through any modes or methods as the Bank deems suitable including without limitation by post, by notification in the mass media, by posting the notice in the Bank’s branches, by inserting the notice into the periodic statement of account, by electronic transmission (including via facsimile, mobile phones, other devices or the internet) or by posting at the Bank’s website or at the ATM or other terminals under the control of the Bank.
4.2 Such notices or communications from the Bank :
(a) if sent by post or despatch or courier shall be deemed to have been served on the Customer if addressed to the Customer at his address registered with the Bank and service shall be deemed to have been made:-
(i) within three (3) days after posting if sent within Malaysia and within five (5) days from posting if sent out of Malaysia; or
(ii) on the same day that it is left at the address of the Customer registered with the Bank in the case of despatch or courier; or
(b) if sent by electronic communication (including via facsimile, mobile phones or other devices or through the internet), shall be deemed to have been served on the Customer by sending or transmitting to such facsimile number, mobile phone/device number, email or other address of the Customer registered with the Bank and service is deemed to have been made immediately upon transmission; or
(c) if posted in the branch, at the Bank’s website or in the mass media, such notice shall be deemed to have been made on the date stipulated in the notice and if no date is stated on the date of posting or publication.
5. DEPOSITS AND WITHDRAWALS
5.1 Deposits and withdrawals must be made in the manner prescribed by the Bank subject to the Bank’s requirements on minimum deposits, withdrawals and minimum balances to be maintained in the Accounts. The Bank may reject or require the production and/or execution of such forms or documents as it deems necessary for any withdrawal or deposit forms or documents which are not complete. The Bank reserves the right to stipulate any minimum amount to be maintained for each of the Accounts and to vary such minimum amount at any time and from time to time.
5.2 Where deposits are made at the Bank’s branches or through any of the Electronic Terminals, the Customer is to check that the particulars of such transactions, where such particulars are furnished to the Customer upon completion of such transaction, are correct before leaving the Bank’s premises or the Electronic Terminal. If there is any error, the Customer shall immediately report it to the Bank.
5.3 In the case of telegraphic/mail/electronic transfer in foreign currency in favour of the Account without an agreed conversion rate of the same into Ringgit Malaysia (RM), the Bank reserves the right to decide, but is not bound to do so, the rate such foreign currency is to be converted for the purpose of crediting the said telegraphic/mail/electronic transfer into the Account.
5.4 Where the Customer utilises any postal (including prepaid mail envelopes), courier or despatch services to deliver any cheques or documents to the Bank, the Customer shall bear the risk of any delay or non-delivery of such cheques and documents.
5.5 Outport cheques, money and postal orders may be received for collection but the proceeds will not be credited to or drawn from the Account, until after receipt of payment by the Bank, unless the Customer has made prior arrangement with the Bank. The Bank reserves the right to refuse to accept for collection cheques or any other monetary instruments which in the Bank’s sole opinion are irregular in any manner or which may have been altered in any way notwithstanding that the alteration or irregularity may have been countersigned by the drawer. The Bank also reserves the right to reverse payment of any monies which are not intended for the Account.
5.6 All cheque books/cheque leaves and passbooks should be kept in safe custody. The Customer shall notify the Bank immediately of the passbook/cheque book or cheque leaf or deposit receipt is/are lost or of any unauthorised cheques when they became aware. The Bank does not accept responsibility for any loss caused to the Customer if any person should obtain possession of the cheque book or leaf/passbooks/deposit receipts and fraudulently obtain payment of any sum belonging to the Customer.
5.7 Cheques and negotiable instruments paid in which have been dishonoured may be collected by the Customer personally or by his authorised representative or returned by post to the Customer at his last known address registered with the Bank at the Customer's own risk and expense.
5.8 The Bank may refuse to accept any deposits or permit any withdrawals whenever there is a breakdown or failure in the on-line computer system affecting any branch/branches of the Bank whether such breakdown or failure be total or partial.
5.9 The Bank may conclusively determine the order of priority of payment of any money pursuant to any instructions for payment or withdrawal from the Account which the Customer may give to the Bank either in writing or through any of the Services.
5.10 The Bank reserves the right to pay the Customer any amount withdrawn by either one or a combination of (i) cash; (ii) issue a banker’s cheque/draft; and/or (iii) any other forms of remittances.
6. LIMITS ON TRANSACTIONS
6.1 All interbranch cash withdrawals can only be made at the Bank's branches (unless specified otherwise) within Malaysia subject to such conditions (including withdrawal limits) and the production and/or the execution of such documents as the Bank may deem necessary.
6.2 Unless otherwise instructed by the Customer or in the absence of the Customer electing a limit, the Bank shall be entitled to determine and impose any limit whether in amount, frequency, the usage or operation of any of the Services or Accounts. The Customer will be notified of such limits on the Customer’s request. The Customer may vary the limits on the transactions carried out by giving prior written notice to the Bank. The Bank is not bound to ensure that the Customer does not exceed such limits nor is the Bank bound to comply with the Customer’s request to vary the limits.
7. SUFFICIENT FUNDS
The Customer shall ensure that there are sufficient and cleared funds in the Account to perform any of the transactions instructed by the Customer unless the Customer has made prior arrangements with the Bank and which the Bank has agreed to the same in writing.
8. JOINT ACCOUNTHOLDERS
8.1 The accountholders shall be jointly entitled to any deposit, investment or credit balance in the Account (whether a savings, fixed deposit, current or other account, including accounts governed under Shariah principle).
8.2 Upon notice of death of any one or more of the joint accountholders, the Bank shall be entitled to pay the deposit, credit balance or investment, as the case may be, to the survivor and if more than one survivor in their joint names provided that prior to such payment the Bank shall be entitled to set off the indebtedness of any of the joint accountholders under any account with the Bank and/or with any company within the OCBC Group from the deposit, investment or credit balance. The Bank may permit the surviving accountholder or accountholders to continue to operate the Account subject to the fulfilment of such terms and conditions as may be imposed by the Bank.
8.3 All instructions relating to the Account, including without limitation in connection with operation and closure of the Account or suspension or termination of the Services, change of address, hold mail or other details of the accountholders registered with the Bank or any other information, shall be given in writing (or by any other means permitted by the Bank) by all joint accountholders, unless otherwise instructed in writing by all the joint accountholders. All joint accountholders shall be jointly and severally liable for all transactions arising from such instructions. If the Bank receives contradictory instructions, whether or not from authorised person(s), the Bank may choose to act only on the mandate of all the joint accountholders.
9. PARTNERSHIP ACCOUNTS
9.1 Where the Customer is a partnership, the Customer agrees that all the partners shall be jointly and severally responsible and liable to the Bank for all monies and liabilities incurred by all or any one of the partners to the Bank whether in the name of or on behalf of the partnership firm or otherwise. Upon any partner ceasing to be a member of the partnership firm by death, bankruptcy or retirement or otherwise, the Bank may at its discretion treat the continuing or surviving partners for the time being as having full authority to carry on the business of the partnership firm and to deal with assets as if there has been no change in the partnership firm.
9.2 In the event of Clause 9.1 occurring, the Bank shall not be liable to the Customer or any other party for any cost, loss and damages (including legal costs as between solicitors and own client) incurred or suffered by any of them arising from the acceptance of any instructions given by the remaining partners.
10. INTEREST OR PROFIT
10.1 Interest (in respect of conventional deposit accounts) or profit (in respect of accounts governed under the Shariah principles), if any, shall be paid by the Bank at such frequency and at the rate determined by the Bank.
10.2 No interest/profit shall be payable by the Bank in respect of unpaid items and the Bank shall have the right to adjust any interest/profit which has been accrued or credited in respect of these items.
10.3 Interest/Profit on fixed deposit/General Investment Account-i shall cease on due date.
11. FEES, CHARGES & TAXES
11.1 The Bank shall be entitled to impose and deduct from the Account the following without further notice to the Customer :-
(a) costs, fees and charges, including the usual bank charges, commissions, stamp duty on the transactions performed and for the Services provided by the Bank at such rates as may be applicable from time to time;
(b) any service charges on the Account and on the Services calculated in accordance with the rules of any body/association/regulatory authority or of the Bank;
(c) any value added tax, goods and services tax, withholding or other taxes, levies or charges whatsoever chargeable on or for any transactions or the Services or on any amount or interest/profit due to the Customer now or hereafter imposed by law or required to be charged; and
(d) any legal fees and costs (on a solicitors and own client basis) incurred by the Bank for any interpleader, recovery or any other proceedings.
Where the Account has insufficient funds to meet the fees, charges and taxes set out above, such sums shall be due and owing from the Customer and, for the Account which are not governed by the Shariah (Islamic) principles, interest shall be chargeable at the Excess Rate from the date such sums were expended or owing until the date of full settlement. “Excess Rate” will mean the rate of 2.5% per annum above the Bank’s base lending rate and includes any other rate or mode of calculation as may be stipulated by the Bank.
11.2 The fees and charges chargeable on the Accounts and the Services are available on request or from the Bank’s branches, website or any other delivery channel of the Bank. The Bank reserves the right to vary such fees and charges with prior notice to the Customer.
11.3 The Customer’s obligation to pay all outstanding sums owing under these Terms and Conditions to the Bank shall survive the termination of the banker-customer relationship.
12. CLOSING OF ACCOUNTS & TERMINATION OF THE SERVICES
12.1 Dormant Account : If there are no transactions carried out on any of the Account within the period specified by the Bank, the Bank may consider that Account dormant and may impose a charge or fee on that Account and close that Account without further notice to the Customer.
12.2 The Bank may close the Account or withdraw, suspend or terminate any or all of the Services without any prior notice to any person including the Customer (whether written or otherwise) and without assigning any reason thereof. Without prejudice to the provision of this clause, the Bank may also close any of the Account or withdraw, suspend or terminate any of the Services in accordance with any guidelines or rules issued by Bank Negara Malaysia or any other authority or body.
12.3 The Customer may terminate the Account or suspend or terminate the utilisation of any of the Services by giving written notice to the Bank.
12.4 Upon closure of the Account either by the Customer or by the Bank, all unused cheque book/leafs issued to the Customer in respect of the current account shall be returned to the Bank. Upon termination of the respective Services either by the Customer or the Bank, the Security Codes must be destroyed or to be returned to the Bank if required by the Bank. The cheque book/leafs and the Security Codes are the property of the Bank, and shall be returned to the Bank on demand.
12.5 A service charge of an amount as may be determined by the Bank will be charged if any Account is closed within three months (or such other period as may be stipulated by the Bank) from the date the Account was opened.
12.6 If there are any moneys standing in the credit of the Account, the Bank’s liability shall be discharged upon delivering or sending to the Customer at his/her last known address registered with the Bank the proceeds in the form of a banker’s cheque/draft or in any other form of remittances.
12.8 In the event the moneys including any interest/profit accrued to the credit of the Account is remitted to the Registrar of the Unclaimed Moneys pursuant the Unclaimed Monies Act 1965 or any statutory amendments thereto, the Account will then be closed.
13. STATEMENTS OR RECORDS OF ACCOUNTS
13.1 For statement-based accounts, a statement shall be rendered once a month or at such other intervals as may be determined by the Bank.
13.2 The Bank may send a statement of account for each of the Accounts or send a combined statement for all the Accounts and the combination of the types of accounts in the statement is subject to change.
13.3 The Bank’s records of the transactions for the Account shall be final and conclusive and binding on the Customer for all purposes in the absence of manifest error. Transactions which have not been verified by the Bank will not appear in the statement and shall not be conclusive of the state of the Account.
13.4 The Customer shall verify all entries in any statements or records issued by the Bank and notify the Bank in writing (or by any other means permitted by the Bank) of any error or discrepancies in the statement or record within 14 days (or such other period as may be determined by the Bank) from date of the statement or record. If the Bank does not receive any notification within the stipulated time, the entries in the statement or record shall be deemed to be correct, binding, final and conclusive. The Bank shall be entitled to reverse any entry contained therein at any time notwithstanding such acceptance by the Customer.
13.5 Upon receipt of such notice from the Customer within the stipulated period, the Bank shall look into the relevant Account to make the necessary adjustments and rectifications if any. Any money due to or from the Customer will be credited or debited from the relevant Account or Accounts.
14. SUSPENSE ACCOUNT
For the purposes of enabling the Bank to preserve intact the liability of the Customer once a writ of summons has been issued or to prove in the bankruptcy or insolvency of the Customer or for such other reasons as the Bank deems fit the Bank may at any time and place, keep for such time as the Bank may deem prudent any monies received recovered or realised hereunder or under any other security or guarantee to the credit of a separate account in the name of the Customer as the Bank shall deem fit without an immediate obligation on the part of the Bank to apply the same or any part thereof in or towards the discharge of the sums due and owing to the Bank.
15. SET-OFF & CONSOLIDATION
The Bank may without notice combine and consolidate all or any of the Accounts of the Customer with the Bank of whatever description and wheresoever located and whether in Ringgit Malaysia or in any other currency and set-off or transfer any sum standing to the credit of any such Account including joint accounts in or towards discharge of all sums due to the Bank under any account of the Customer with the Bank and the Customer hereby authorises the Bank to effect any such combination, consolidation, set-off or transfer with the necessary conversion at the Bank’s prevailing exchange rates which shall be determined by the Bank.
16. INDEMNITY
The Customer shall be liable for and indemnify the Bank against any claims, proceedings, loss, damage and costs (including legal costs as between solicitor and own client) incurred and/or suffered by the Bank arising from the acceptance of any instruction given by the Customer to the Bank or as a result of any act or omission or the breach of any of these Terms and Conditions by the Customer. The liabilities of the Customer shall be continuing liability and will remain in full force and effect until they are fully discharged notwithstanding the termination of the banker and customer relationship.
17. LIMITATION OF LIABILITY
17.1 The Bank shall not be responsible for any loss suffered by the Customer in connection with items banked in which have been lost, destroyed or delayed in the process of clearing.
17.2 Notwithstanding any provisions herein, the Bank shall not be liable to the Customer or any third party for any damages, loss of profits or earnings (whether direct or indirect), goodwill or any special/exemplary, direct or consequential loss or damage whatsoever or howsoever arising even if the Bank had been advised of the possibility of such loss, damage or claim by any party.
17.3 Subject to the provisions herein, the Bank’s sole and entire liability to the Customer in contract, tort (including negligence or breach of statutory duty) or otherwise howsoever arising pursuant to these Terms and Conditions shall not exceed the amount of the transaction which gave rise to the claim or the direct damages sustained, whichever is the lower.
17.4 Each of the provisions in Clause 17 is to be construed as a separate limitation applying and surviving even if for any reason one of the other provisions is inapplicable or held unreasonable in any circumstances and shall remain in force notwithstanding the termination of the Account or the Services.
17.5 No branch of the Bank in any jurisdiction or any of the companies within the OCBC Group shall under any circumstances whatsoever be liable to the Customer or any other party in respect of the Bank’s obligations and liabilities under these Terms and Conditions.
17.5. INCENTIVES AND BENEFITS ARISING FROM THE BANK'S TIE-UPS WITH BUSINESS PARTNERS
Any arrangements between the Bank with its business partners to provide incentives and benefits to the Bank's customers, whether tangible or intangible, are subject to such other terms and conditions imposed by the Bank and may be subject to changes and termination by the Bank and its business partners jointly or unilaterally. Such incentives and benefits shall be deemed to be accepted by the Customer on his own free will and the Bank and its business partners shall not be liable for any form of claims arising from harm or dissatisfaction from their use or misuse.
18. FORCE MAJEURE
18.1 Notwithstanding any provisions herein, the Bank shall not be liable to the Customer or any third party:-
(a) for any inconvenience, injury, any damages, loss of profits or earnings (whether direct or indirect), goodwill or any special/exemplary, direct or consequential loss or damage whatsoever or howsoever arising in the event the Bank is unable to perform any of its obligations under these Terms and Conditions or to provide any of the Services attributable directly or indirectly to Force Majeure;
(b) for any expense, loss, damage, liability or other consequences suffered or incurred by the Customer or any party if the funds credited or debited from the Account diminish in value due to taxes, depreciation or becomes unavailable due to restrictions (howsoever arising) on convertibility, involuntary transfers, distraints of any character or Force Majeure.
18.2 Where any currency in which the Bank’s payment obligations is denominated becomes unavailable due to restrictions on convertibility, transferability, involuntary transfers, distraint of any character or Force Majeure, the Bank shall be deemed to have satisfied such payment obligation by making payment in such other currency as the Bank deems fit.
19. DISCLOSURE
19.1 The Customer irrevocably and unconditionally consents to and authorises the Bank and its officers to disclose the Customer’s financial condition, details of accounts, account relationship with the Bank including credit balances to Bank Negara Malaysia, any governmental authorities and agencies in Malaysia or elsewhere, Dishonoured Cheques Information System (DCHEQS), Central Credit Reference Information System (CCRIS), or any other bureau or company set up for the purpose of collecting and providing credit or other information, Cagamas Berhad, Credit Guarantee Corporation Malaysia Berhad, any guarantor(s), any person who has given or is giving security for the Customer’s liabilities under any Account, party(ies) proposing or intending to make or tender payment towards the Customer’s liabilities to the Bank, companies which are related to the Bank by virtue of Section 6 of the Companies Act 1965 or any associated company of the Bank or of its parent company (the Bank together with the aforesaid related/associated companies are collectively referred as “OCBC Group”), party(ies) providing or intending to provide goods and/or services to the Customer or to any member of the OCBC Group, agents, sub-agents, correspondent banks, local banks and branches of local banks, nominees, lawyers, custodians, centralised securities depository or registrar, debt collection agents of any company under the OCBC Group, the Bank’s or any of the OCBC Group’s assignees or potential assignee, acquirer or potential acquirer, the police or any investigating officer conducting any investigation in connection with any offence, any person to whom disclosure is permitted or required by any law, regulation, governmental directive or request and any party whomsoever as the Bank may deem fit and their respective successors-in-title at any time and without notice or liability to such extent and for such purposes as the Bank may deem necessary or expedient. The Customer irrevocably consents to and authorises the Bank and its officers to conduct credit checks and disclose its account relationship with the Bank to any parties as the Bank may in its absolute discretion deem fit for purposes of verifying any information, its application for the Account, the Services and any trade transactions.
19.2 The Bank shall be entitled, whenever permitted by law, and the Customer hereby irrevocably and unconditionally consents and authorises the Bank, to use or apply, without the need to give the Customer any notification, any information relating to the Customer which was collected, gathered, received, captured, compiled, secured and/or obtained by the Bank through or by whatever means and methods, including without limitation, e-mail addresses, names, phone numbers and the like, for such purposes as determined by the Bank.
20. TERMS AND CONDITIONS
20.1 These Terms and Conditions supercede all prior terms and conditions governing the Account or the Services set out herein, unless specified otherwise by the Bank. The Bank reserves the right to amend, supplement and/or to supercede these Terms and Conditions or to introduce new terms to cater to new products or services by giving notice to the Customer pursuant to Clause 4. Such change will apply on the effective date specified in the notice by the Bank and if no date is specified in the notice, on the date of posting of such notice.
20.2 The continued operation or non-closure of the Account or use of the Services by the Customer after the effective date of such change of these Terms and Conditions shall be deemed to constitute acceptance of such changes without reservation by the Customer. The Customer cannot vary or amend these Terms and Conditions in any form or manner even if the Bank has notice of such variation or amendment.
20.3 These Terms and Conditions are printed in English and any other language determined by the Bank. If there is any conflict in the interpretation of these Terms and Conditions and any translation of these Terms and Conditions in any language, the English version of these Terms and Conditions shall prevail. These Terms and Conditions may be available on request from any branch of the Bank or from the Bank’s website or through any delivery channel as the Bank may determine from time to time.
20.4 The Bank may offer new or additional features, products and services to the Customer and the Customer’s acceptance or the use of such additional features, products and services shall be on these Terms and Conditions and the additional terms as may be stipulated by the Bank. If the Customer requests the Bank to make available such new or additional services, such request may be subject to the Bank’s approval.
21. BUSINESS DAYS & HOURS
21.1 The Business Days, hours of the Bank and the availability of the Services may be extended, varied or otherwise revised in accordance with the Bank’s business and operational requirements without notification to any person.
21.2 Reliability of Information – Information including but not limited to interest rates, exchange rates, and product information quoted in Bank’s website or provided by the Services is for indication purposes only. The actual rate or price that shall apply for a particular transaction can only be determined at the time the transaction is entered into.
22. SEVERABILITY AND WAIVER
22.1 If any provision which is determined to be illegal, invalid, prohibited or unenforceable in any respect under the law, the same shall be ineffective to the extent of such illegality, invalidity, prohibition or unenforceability without invalidating in any manner whatsoever the remaining provisions in these Terms and Conditions.
22.2 The Bank’s acceptance of any of the Customer’s instructions or any waiver by the Bank of any of its rights or any indulgence granted to the Customer shall not operate to prevent the Bank from enforcing any of its rights under these Terms and Conditions or be treated as consent to the modification of any part thereof nor shall any single or partial exercise of any right, power or privilege preclude any other or further exercise thereof for the exercise of any other right, power or privilege. The rights and remedies herein provided are cumulative and not exclusive of any rights or remedies provided by law.
23. GOVERNING LAW
These Terms and Conditions shall be governed by and construed in accordance with the laws of Malaysia but in enforcing its rights the Bank shall be at liberty to initiate and commence proceedings or otherwise against the Customer and any party in Malaysia or elsewhere, irrespective of the Customer’s place of residence or business or the place where the Account is maintained.
24. SUCCESSORS BOUND
24.1 These Terms and Conditions shall be binding upon the heirs, personal representatives and successors-in-title of the Customer and the successors-in-title and assigns of the Bank. The Customer shall not be entitled to assign any of its rights and interest to the Accounts and under these Terms and Conditions.
24.2 Reconstruction of the Bank : The obligations and liabilities of the Customer shall continue to be valid and binding for all purposes whatsoever notwithstanding any change by amalgamation, reconstruction or otherwise which may be made in the constitution of the Bank or by any company by which the business of the Bank may for the time being be carried on and shall be available to the company carrying on the business for the time being.
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