These are the terms and conditions governing OCBC Bank (Malaysia) Berhad’s depository accounts and the services specified hereunder.

PART 1 -   GENERAL TERMS & CONDITIONS

Part 1 shall apply to both the Accounts and the Services unless specified otherwise.  Please click HERE  to view the Bahasa Malaysia version.

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.   

(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.

PART 2  - ACCOUNTS

Part 2 shall apply to the Accounts unless specified otherwise.  Please click HERE to view the Bahasa Malaysia version.

1.  CURRENT/CHEQUEING ACCOUNT AND CURRENT ACCOUNT-i

1.1   CHEQUES AND CHEQUE BOOKS

(a) Cheques shall not be drawn on the Bank except on the forms supplied and registered for the Accounts.

(b) No alterations whatsoever shall be made on cheques. The Bank reserves the right to dishonour and return cheques which in the Bank’s absolute opinion bear any form of alteration (whether countersigned by the drawer or otherwise). The Bank also reserves the right to dishonour any cheque which is mutilated or has technical errors which include but not limited to a post-dated cheque, cheque showing inconsistency between the words and figures or with illegible handwriting.

(c) The Customer shall not use pencils or erasable ink pens when completing cheque forms. The Customer owes a duty to the Bank so as not to facilitate fraud or forgery. The Bank shall not be liable to the Customer for any loss suffered by the Customer arising from the Customer’s negligence or disregard of the precautions in handling cheques. The Customer agrees that the above precautions are not exhaustive and the Customer shall exercise care and caution in handling cheques and operating the Accounts.

1.2   OVERDRAWING

 No overdrawing is allowed unless the Customer has made prior arrangement with the Bank. Interest on overdrawing for Current Account shall be calculated based on daily debit balances at the rate determined by the Bank and shall be debited to the Account monthly or at such intervals as may be determined by the Bank. For Current Account-i, any permitted overdrawing shall be subject to service charge to be advised by the Bank and debited to the Account.

1.3 BAD CHEQUES

 (a) The Bank reserves the right to dishonour any cheques issued by the Customer if there are insufficient funds in the Customer’s Account for payment of the cheque (“Bad Cheque”).

 (b) The Bank reserves the right to close or impose restrictions/conditions on all or any of the Customer’s Accounts with the Bank if any one of the Customer’s Account with the Bank is not conducted satisfactorily or has been listed with the Dishonoured Cheques Information System (DCHEQS) or with any credit bureau or any organisation or corporation whether or not such bureau, organisation or corporation were/are established or approved by any governmental or regulatory authority or body.

2. SAVINGS ACCOUNT AND SAVINGS ACCOUNT-i (Applicable to Individuals only)

2.1  PASSBOOK

(a) Where a passbook is issued in respect of the savings account, the Customer must present the passbook where the withdrawal is made at any of the Bank’s branches. 

(b) Entries in the passbook will either be machine validated or entered manually under the signature of an authorised officer of the Bank.

(c) The passbook is for the Customer's reference only and is not conclusive as to the current balance of the savings account as deposits may be made or items charged without any entry being made in the passbook.

2.2  LOSS OF PASSBOOK

 In the event that the passbook is lost, mislaid or destroyed, the Bank may allow the balance of the savings account to be withdrawn or to transfer the balance to a new account subject to such conditions as may be prescribed by the Bank.

2.3 YOUNG SAVERS ACCOUNT AND YOUNG SAVINGS ACCOUNT-I

 The Bank may impose withdrawal restrictions, such as restriction to the number of times or amount that can be withdrawn in a calendar month or year. The Bank reserves the right to convert the Account to another appropriate product that shall be decided by the Bank, at the time when the Account does not have a holder younger than 18 years old (for Young Savings Account-i) or 21 years old (for Young Savers Account).

(a) Unless with the consent of the Bank, the Customer shall not withdraw more than the amount and/or number of withdrawals in each calendar year as specified by the Bank and provided a minimum balance specified by the Bank is retained in the Account.

(b) A percentage, decided by the Bank, of the interest already paid shall be deducted from the account balance if the Account is closed within the minimum period which the Account must be maintained as stipulated by the Bank.

2.5 SAVINGS ACCOUNT-I AND CURRENT ACCOUNT-I

(a) The Bank may accept the sum of money deposited and any sum of moneys to be subsequently deposited into the Account based on the Shariah (Islamic) principle of Wadiah Yad Dhamanah (Guaranteed Custody) or Mudharabah (Trustee Profit Sharing) concept.

(b) Under the concept of Wadiah, the Bank accepts from the Customer who is looking for safe custody of their funds and guarantees payment of the whole sum or any part thereof standing to the credit of the Account when demanded.

(c) Under the concept of Mudharabah, the Customer (owner of the capital) places his/her funds with the Bank (entrepreneur) as capital for the purpose of investment on an agreed predetermined profit sharing ratio.  Any profit generated thereon will be distributed between the Customer and the Bank in an agreed predetermined ratio and any loss shall be solely borne by the Customer.  The Bank shall be entitled to vary the profit sharing ratio in respect of any investments from time to time by giving prior notice to its customers.

(d) The Customer shall give his consent to the Bank to utilise wholly or any part of monies standing to the credit of the Account in the manner that the Bank shall deem fit according to Shariah principles.

3.  FIXED DEPOSIT AND GENERAL INVESTMENT ACCOUNT-i

3.1  GENERAL  - FIXED DEPOSIT/INVESTMENT

(a) Fixed Deposits can be placed for tenures in multiples of one month up to tenure of 60 months or such other tenure as may be determined by the Bank.  Notwithstanding the above, if the maturity date falls on a non-Business Day, any renewal/disposal instructions by the Customer will be carried out on the next Business Day.

(b) Premature withdrawal may be allowed subject to the terms and conditions stipulated by the Bank.

3.2  GENERAL INVESTMENT ACCOUNT-I - PROFIT SHARING RATIO

 (a) This product is based on the Shariah (Islamic) principle of Mudharabah (Trustee Profit Sharing) concept. It is a contract between two parties, where the Customer (owner of capital) places a specified sum of money with the Bank (the entrepreneur) for a stipulated period of time based on an agreed predetermined profit sharing ratio. The profit will be distributed between the Customer and the Bank in an agreed predetermined ratio and any loss shall be solely borne by the Customer. The Bank shall be entitled to vary the profit sharing ratios in respect of any investments from time to time by giving prior notice to its customers. 

(b) Investments which are withdrawn before the completion of three (3) months shall not be entitled to any profits. Withdrawals made after placement of three (3) months or more but before maturity, a portion of the eligible profit may be paid to the Customer based on the number of days invested with the Bank.

4.1  GENERAL TERMS FOR THE FOREIGN CURRENCY ACCOUNT

 (a) The terms and conditions under this Clause 4.1 is specifically applicable for both Call and Time Deposit Accounts (collectively referred to as “FCA”) opened or to be opened with the Bank.

 (b) The Customer agrees at all times to comply with all the following conditions, overnight limits and regulations which are subject to change by Bank Negara Malaysia from time to time without further notification by the Bank.

 (c) Notwithstanding the above, the Bank reserves the right to further impose any other conditions and/or overnight limits on the Customer for purpose of controlling and monitoring within the Bank.

 (d) The Bank reserves the right to reject or reverse in its entirety any deposits or proceeds through inward remittances in the absence of any clear and specific instructions or which may directly or indirectly result in a breach of the aforesaid conditions and overnight limits and/or to reserve such sum or sums from the FCA which have breached the aforesaid conditions and overnight limits caused by any other reasons including but not limited to the crediting of interest and fluctuations in exchange rate, under which the Bank shall then be authorised by the Customer to convert and remit such deposits, proceeds or sums in Ringgit Malaysia at the Bank's prevailing conversion rate.

(e) The Customer is required to notify the Bank :-

(i) change in the volume of export proceeds in the case of exporters, change in the qualifying conditions that affect the prescribed overnight limits and any breach of the qualifying conditions and/or overnight limits imposed by Bank Negara Malaysia in the operation of the FCA; and

(ii) prior to the remittance by telegraphic/mail/electronic transfers or otherwise of any proceeds to the Customer’s FCA.

(f) Withdrawals from any FCA in a currency other than the currency of that FCA shall be at the conversion rate to be determined by the Bank.

(g) The Bank is under no obligation to accept deposits or allow withdrawals of foreign currency notes.

(h) The Bank will receive for the credit of the FCA any cheque, draft, mail and telegraphic transfer, negotiable instrument and any monies payable to the Customer PROVIDED THAT the aforesaid cheque, draft, mail and telegraphic transfer and negotiable instrument are in such form and substance acceptable to the Bank. Proceeds of any Ringgit Malaysia or other foreign currency cheque, draft or negotiable instrument and monies payable to the Customer shall be credited to the FCA at the conversion rate to be determined by the Bank.

(i) 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 or as a result of the Bank's remedial action on the Customer's behalf to comply with the aforesaid conditions and limits set by Bank Negara Malaysia which in the Bank's opinion has been breached.

(j) Notwithstanding the above terms and conditions, the opening and operation of the FCA is also subject to the banking practices and laws of Malaysia, Exchange Control Act 1953, rules and regulations of the Association of Banks in Malaysia and the rules and regulations of other regulatory bodies established by Bank Negara Malaysia including any amendments made to such laws, rules and regulations from time to time.

(a) An FCCA may be opened in any currency other than Ringgit Malaysia which is acceptable to the Bank. Interest shall be credited monthly at the Bank's rate and will be calculated on the daily balances at the end of each day or such other intervals as may be determined by the Bank provided that no interest shall be payable on the daily balance or such other intervals, as the case may be, unless the balance exceeds the requisite minimum amount stipulated by the Bank.

(b) No interbranch transactions or overdrawing are allowed on the FCCA.

(c) Withdrawals may be made by giving not less than 24-hours notice in writing (or by such other means permitted by the Bank) and the Customer is required to give clear and specific instructions with regard to the withdrawal and disposal of the deposits.

4.3 FOREIGN CURRENCY TIME DEPOSIT ACCOUNT (“FCTDA”)

(a) An FCTDA may be opened in any currency other than Ringgit Malaysia which is acceptable to the Bank.

(b) Deposits into the FCTDA will be for a term and rate as agreed with the Bank. The Bank reserves the right to impose any such limits on the amounts and terms of deposit including but not limited to the minimum deposit limits which may be subject to change at the Bank's absolute discretion.

(c) Withdrawal of deposits can be made only on maturity and at the branch of deposit. The Bank may allow premature withdrawal of deposits PROVIDED ALWAYS that any loss/penalty charges for such withdrawals shall be fully borne by the Customer. All withdrawal of deposits must be made in its entirety and not in separate sums.

(d) The Customer is required to give clear and specific instructions in writing with regards to the withdrawal and disposal of the deposits. Such instructions should reach the Bank not less than two (2) Business Days (or such other period as may be stipulated by the Bank) before maturity.

(e) In the absence of any withdrawal/disposal instructions, the Bank is under no obligation to renew the principal and/or interest or to transfer or remit such matured sums to the Customer or to any of the accounts within or outside the Bank until further instructions are given to the Bank.

(f) Notwithstanding the above, if the maturity date falls on a non-Business Day, any renewal/disposal instructions by the Customer will be carried out on the next Business Day.

PART 3 - THE SERVICES

PART 3A – GENERAL TERMS FOR THE ELECTRONIC SERVICES

Part 3 shall apply to all the Electronic Services unless specified otherwise.  Please click HERE to view the Bahasa Malaysia version.

1. AVAILABILITY OF THE ELECTRONIC SERVICES

1.1 The Electronic Services will be available if the Customer complies with the procedures and terms prescribed by the Bank with regards to access, the equipment/devices required and use of the respective Electronic Services. 

1.2 The availability of the respective Electronic Services shall also be subject to the hours, payment of any costs, fees, commissions and charges and the notification prescribed by the Bank including any variations and supplements to the same as may be determined by the Bank. The Electronic Services may be varied, supplemented or withdrawn by the Bank at any time and from time to time at its absolute discretion.

2.1 Access to the Electronic Services is granted to any persons who have identified themselves as the Customer or the Authorised User by using the Security Codes, and complying with the Bank’s instructions and procedures regarding the use of such Security Codes.  The Customer shall be responsible and liable for all transfers of funds or balance enquiries or transactions made or performed or processed or effected by or with the use or purposes use of the Electronic Services whether with or without the authority or knowledge of the Customer and the Bank shall be entitled to rely and act on such instructions given and debit the Customer’s Account or Accounts in respect of all such transactions including any relevant charges. 

2.2 Notwithstanding any provisions in these Terms and Conditions, the Bank may (but shall not be obliged to), without the need to notify the Customer thereof within any time limit, and without stating reasons and without liability to any person for any loss, damage, claims or costs:-

(a) require any persons accessing or using the Electronic Services to identify themselves by alternative means (including by signature or in person or by telephone call) and/or to give confirmation of the instructions (whether in writing or otherwise and in such form and substance as prescribed by the Bank) before the Bank proceeds to act on such instructions; and/or

(b) refuse or cease to carry out any instructions in whole or in part, or reverse in whole or in part any actions which have been carried out based on any instructions, or impose conditions on the carrying out of any instructions in whole or in part. The Bank may only act on an instruction to the extent the Bank deems legal in any relevant jurisdiction, and practical or reasonable for the Bank to do so and in accordance with these Terms and Conditions and/or the Bank’s regular business practice and procedure; and/or

(c) vary, add to, withdraw, terminate, suspend or delete all or any parts of Security Codes and/or the Electronic Services, including the times and durations for which any of the Electronic Services may be accessed or used.

2.3 If the Bank countermands or reverses any instructions, or accepts any conditional instructions whether pursuant to the Customer’s request (which the Bank shall not be obliged to comply) or at the Bank’s own volition pursuant to these Terms and Conditions, then in addition to any rights and remedies available to the Bank, the Customer shall pay the charges and all costs on request by the Bank.

2.4 Any instructions given and received through the Electronic Services after the relevant cut-off time on any Business Day shall be regarded as instructions given and received on the next Business Day.

2.5 The Customer acknowledges the electronic and open-network (as applicable) nature of the Electronic Services and acknowledges and assumes all inherent risk of security, corruption, delay or failure in effecting any instructions or transactions, transmission error, access availability, downtime, and all risks related or incidental to the usage of or access to the Electronic Services. The Bank shall not be liable or responsible for any of the foregoing risks. The Customer shall make his own verification that his instructions or other communication had been effected.

2.6 The Customer is solely responsible for the accuracy of all instructions. The Bank shall not be responsible for any errors or inaccuracy in any instructions.

2.7 Joint Account : Each joint accountholder may give instructions to the Bank in respect of a joint account using the Electronic Services where the mode of operation of the joint account is either one to operate.  All joint accountholders shall be jointly and severally liable for such instructions, and consequences and effects of such instructions. All joint accountholders agree that this Clause 2.7 is an irrevocable mandate given to the Bank in respect of the Electronic Services.

2.8 The Bank may but shall not be obliged to act on any instructions not transmitted through the Electronic Services. If the Bank acts on any such instructions, then all provisions in this Clause 2 shall mutatis mutandi apply to the instructions.

3. RESPONSIBILITIES OF THE CUSTOMER

3.1 The Customer shall preserve the integrity and security of the Electronic Services and the Security Codes, including without limitation:-

 (a) ensuring no unauthorised use of the Security Code or the Electronic Services and establishing and applying adequate security systems and procedure for monitoring all use of or access to the Electronic Services where the Electronic Services are performed through the mobile phone/device or equipment under the control of the Customer;

 (b) keeping the Security Codes confidential at all times including but not limited to the following :-

(i) not having written down nor kept the Security Codes together with information on the relevant Electronic Services which may be deciphered by anyone under any circumstances;

(ii) changing the Security Codes regularly and destroying any advice which may contain the Security Codes after the Customer has received and read them;

(iii) not disclosing to nor allowing any person to access or use the Security Codes (including employees of the Bank) under any circumstances and taking all care to prevent the Security Codes from becoming known to any person.

 (c) promptly notifying the Bank at the contact numbers/details provided in the Terms and Conditions or such other contact numbers/details provided by the Bank from time to time if the Customer becomes aware of any facts which suggest that the security of the Security Code seems/is no longer or will no longer be adequate or lost, mutilated or stolen. Oral notice shall be followed within 24 hours by written notice; 

 (d) ensuring that the Authorised User understands and complies with the Terms and Conditions for the use of the Security Codes and the Electronic Services and notifying the Bank immediately if an Authorised User is no longer authorised to use the Electronic Services;

(e) where telephones with key press password recorders or other similar devices are installed, by deleting the numbers relating to the transactions after the instructions have been issued;

(f) by reading and understanding  the user guide for the Electronic Services before attempting to use the Electronic Services.
 
 The Customer understands and agrees that failure to comply with this requirement may expose the Customer to the consequences of theft and/or unauthorised use of the Security Codes or the Electronic Services, for which the Bank will not be liable. The Customer hereby undertakes to indemnify the Bank and to hold the Bank free from all claims and liabilities from all parties whomsoever, arising from such unauthorised use.

3.2 All Security Codes may be despatched by the Bank to the Customer at the address registered with the Bank or may be collected in person by the Customer or by any authorised person as the case may be or may be issued through phone or by any other means (for TPIN and other Security Codes) as the Bank may decide at the risk of the Customer. The Customer shall comply with any requirements, rules and procedures which the Bank may impose for the issue, despatch and collection of any Security Code.

3.4 The Bank grants the Customer a non-exclusive non-transferable licence to use the Security Codes only for purposes of using and accessing the Electronic Services. The Customer shall not disassemble or reverse engineer or permit to be disassembled or reverse engineered any Security Codes and shall not cause or allow any portion thereof to be copied, removed, modified, transferred, adapted or translated in any form, in whole or in part, without the prior written consent of the Bank. The Bank may issue any replacement Security Codes to the Customer for such fee or charge as may be determined by the Bank.

3.5 The Bank reserves the right to issue separate Security Codes to the Authorised Users when there is more than one Authorised User.

3.6 The Bank shall not be responsible or liable for any loss caused to or damage suffered by the Customer due directly or indirectly to any person under any circumstances obtaining possession of the Customer or Authorised User’s Security Code, provided always that the following shall prevail notwithstanding any provision in these Terms and Conditions:

 (a) the Customer shall not be liable for losses resulting from any unauthorised transaction occurring after the Customer has first notified the Bank in accordance with these Terms and Conditions that the Customer’s Card has been lost, misused, stolen, or the security of the Security Code has been breached;

 (b) where the Customer has contributed to the loss resulting from an unauthorised transaction by delaying the notification of the loss, misuse or theft of a Card or of the Security Code, the Customer shall be liable for actual loss which occurred.

4. LIABILITY

 In addition and without derogation to other provisions of these Terms and Conditions, the Bank shall not be responsible or liable for any damages, losses, costs and expenses (whether direct or indirect, whether foreseeable or not, and whether the Bank has notice or not) which the Customer may suffer or incur arising out of or in relation to:-

(i) the Customer’s misuse or failure to correctly use the Security Codes or the Services or any software/hardware/equipment required for the Electronic Services;

(ii) the Customer’s failure to follow the updated instructions, guidelines, regulations, laws, procedures for using, accessing, applying for, purchasing, selling, or dealing (as applicable) the Electronic Services, any goods (including shares), products, services or facilities of any persons (including any third parties) under these Terms and Conditions;

(iii) all disputes arising from or relating to the quality or quantity, consideration, contracts, prospectus, terms and conditions, advertisements of any products, goods (including shares), services or facilities of or with any third parties;

(iv) partial or total malfunction, defect or failure of any network, terminal or any data processing system, computer tele-transmission or telecommunications system (collectively, “Systems”), whether any of the foregoing belong to or are operated by the Bank, due to any reasons whatsoever not restricted to malicious attacks, hacking, or fraudulent actions;

(v) other circumstances beyond the control of the Bank or any bank, financial or card institution or any person or any organisation involved in the Systems; and

5. DISPUTE RESOLUTION (APPLICABLE TO INDIVIDUALS ONLY)

5.1 This Clause 5 applies only to Customers who are individuals. Upon receipt of any complaints reported by the Customer, the Bank will revert to the Customer within 14 days (or such other period as the Bank may inform the Customer of) from date of receipt.  Where the Bank is unable to revert on the complaint within 14 days, it will notify the Customer in writing of the need for an extension of time to reply. The Customer can appeal to the senior management of the Bank or to the Financial Mediation Bureau, if he is still not satisfied with the outcome of the complaint.

5.2 The complaint letter must be sent to the following address or the Customer may call the number below or such other address or contact numbers as the Bank may notify the Customer of :

Customer Experience Department 
Menara OCBC, No. 18, Jalan Tun Perak,
50050 Kuala Lumpur, Malaysia.

Telephone No: 1- 300 88 5000 (For consumer banking customers)
Telephone No: 1-300 88 7000 (For business & corporate banking customers)

PART 3B – SPECIFIC ELECTRONIC SERVICES

1. QUICK DEPOSIT SERVICE

1.1 The deposit of any cheques at the Bank’s Quick Deposit Machine shall be made in the manner prescribed by the Bank.    

1.2 The Bank may, but is not obliged to, accept any cheque for collection. If any cheque is not accepted by the Bank, the Bank will inform the Customer of the same and the cheque may be collected by or posted to the Customer at the risk and cost and expense of the Customer.   

2. AUTOMATED TELLER MACHINES

2.1 The Customer may perform any of the transactions allowed on the ATMs.  The services available through the ATMs during such hours and subject to such other instructions or notification as may be determined from time to time by the Bank. Where the Customer utilises the services of the ATMs belonging to other institutions, the utilisation of such services will also be subject to the terms and conditions set by the relevant institutions.    

2.2 Any request for transfer of funds through the ATM shall be deemed to be completed once the transaction has been successfully accepted. The relevant Account will be debited and the beneficiary’s account will be credited simultaneously.   

3. CASH-IN ATM

3.1 Any cash deposited via the Bank’s Cash-in ATM shall be made in the manner prescribed by the Bank. The Cash-In ATM will produce a receipt for the cash deposited. The relevant Account will be credited with the cash deposited once verified by the Bank.

3.2 The Customer should check that the particulars of the transaction printed on the slip 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.

4. ELECTRONIC SHARE APPLICATION (“ESA”) (FOR INDIVIDUALS ONLY)

4.1 This service is available to individual persons only. The Customer may submit an ESA for the subscription of a public share issue and payment for such a subscription through the ATM or through any other services or channel which may be permitted by the Bank subject to the availability of funds in the relevant Account provided always that the Bank shall be entitled to reject such ESA without assigning any reason and without being liable to the Customer for any loss, costs or damages in respect of the same. The Customer may only submit one ESA for each public share issue for the Customer’s own share application and not otherwise.

4.2 The Bank shall debit the relevant Account for the amount as instructed by the Customer together with such commission and charges as may be imposed by the Bank for the time being for the ESA.  No interest /profit shall be payable on such amounts debited whether the ESA is successful or not.

4.3 The ESA shall also be subject to the rules and regulations as may be stipulated by the relevant issuing house including any amendments or supplements which may be made by the issuing house from time to time. The Customer shall direct any enquiries or dispute regarding the result of the share application, balloting and allocation the Customer has with regards to the ESA to the relevant issuing house.

4.4 The relevant issuing house will inform the Customer if the ESA is successful or not. If the ESA is not successful or the shares allotted are less than the total number of shares applied for by the Customer, the refund of the subscription monies or the excess amount due to the Customer, as the case may be, will be made by the relevant issuing house to the Customer in any manner and on such terms as may be determined by the issuing house.  If the refund of the subscription monies or such excess amount is to be made through the Bank, such refund will only be made :

(a) subject to the Customer submitting such documents (if any) as may be required by and acceptable to the Bank, failing which the Bank shall not be obliged to effect such refund; and

5. PHONEBANKING SERVICES 
 
5.1 The instructions once transmitted through the Phonebanking services cannot be varied, amended or supplemented.  The Bank reserves the right not to accept or act on any instructions including any instructions which have been varied, amended or supplemented by the Customer given through the Phonebanking services.    
 
5.2 Recording of Conversations : The Bank shall be entitled to record all telephone instructions and conversations. The recordings shall be the property of the Bank and shall be conclusive evidence of the instructions given by the Customer.  

5.3 Messages or Notifications : The Bank shall be entitled  to telephone the Customer at the contact numbers given or through the mobile telephone and leave messages  with the person answering the call or on a call answering machine.

6. ALERT NOTIFICATION SERVICE

6.1 The Bank may provide Alert Notification Service at the Customer’s own risk through electronic mail, facsimile, short message service (SMS) or other media as the Bank deems fit. The scope and features (including the time and frequency of any alert/notification) of the Alert Notification Service shall be as determined and may be modified or terminated as deemed fit by the Bank from time to time without notice to any persons.

6.2 The provision of the Alert Notification Service may involve products, goods, services and/or facilities provided by third parties. The Customer agrees that the Customer’s information will be released to such third parties by the Bank and may be placed and stored in servers beyond the Bank’s control.

6.3 A notification is deemed sent to its intended recipient on the activation of the broadcast of the notification to the contact particulars designated by the Customer for the purposes of the Alert Notification Service, irrespective of whether the notification is actually received at the contact particulars designated or by the recipient(s) intended by the Customer.

6.4. The Alert Notification Service does not in anyway derogate the obligation on the Customer to maintain sufficient funds in any Accounts. The Customer shall not under any circumstances be dependent or reliant on the Alert Notification Service for any purpose whatsoever.

6.5 All time/date references in any notification are to Malaysian time unless otherwise specified by the Bank.

6.6 Unless otherwise informed by the Bank, the Customer shall not communicate or attempt to communicate with the Bank through the sender’s contact number, address or other particulars, if any, indicated in any notification.

PART 3C – OTHER SERVICES

1.     AUTO-SWEEP FACILITY AND AUTO-SWEEP CURRENT ACCOUNT-I (FOR INDIVIDUALS ONLY)

1.1 This service is available to individual persons only. The Bank may grant to individual persons the Auto-sweep Facility and Auto-sweep Current Account-i to specific types of accounts subject to the Bank's charges and terms and conditions and the use by the Customer of such facility shall be on such terms and conditions. 

1.2 The Auto-sweep function for funds transfer between the Accounts shall be ONE WAY only i.e. from the Customer's Savings Account to the Current Account or from Savings Account-i to Current Account-i.  There shall be no automatic re-transfer of any funds remaining in the Customer's Current Account back to the Savings Account or Current Account-i to Savings Account-i (including but not limited to incidents where the fund transfers have occurred but the Bank is unable to honour any cheque presented for technical reasons and/or if the Bank decides to dishonour any cheque presented due to reason of insufficient funds).

1.3 The Bank will not accept any deposit or withdrawal or activate the Auto-sweep 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 is total or partial. The Bank shall not be obliged to inform the Customer of its inability to activate the Auto-sweep function when cheques drawn by the Customer are presented for payment over the counter at the time the Bank's on-line computer system fails.

1.4    There shall be no automatic funds transfer from the Customer's Savings Account or Savings Account-i to the Current Account or Current Account-i respectively where withdrawals from the Current Account or Current Account-i are made via ATM or through any of the Services. The Customer shall not hold the Bank responsible or liable for any loss, injury, damage or embarrassment which the Customer may incur or suffer directly or indirectly arising out of or in connection with the Auto-sweep facility provided by the Bank to him due to any reason whatsoever, including but not limited to the dishonouring or returning of cheques due to insufficient funds in the Customer's Current Account or Current Account-i as a result of ATM transactions and/or other electronic services performed by the Customer at the time when the end of day processing of the Bank's computer system is in progress.

1.5 The Customer shall maintain a minimum daily credit balance in the Current Account or Current Account-i as may be specified by the Bank. If the balance falls below the minimum credit balance, the Bank shall transfer such sum from the Savings Account to the Current Account or from the Savings Account-i to the Current Account-i to maintain the minimum balance.  Such transfers shall be effected at the end of day.

1.6 If the Savings Account/Savings Account-i or Current Account or Current Account-i is closed, the Auto-sweep Facility or the Autosweep Current Account-i shall be terminated.
 
1.7    The Bank may at its absolute discretion terminate the Auto-sweep Facility or Autosweep Current Account-i at any time by giving notice to the Customer.

2.     STANDING INSTRUCTION (PERIODIC PAYMENT ORDER)

2.1 The Customer shall issue or terminate the Standing Instructions in writing (or by any other means permitted by the Bank) to the Bank. Where payment pursuant to the Standing Instructions cannot be made due to insufficient funds in the relevant Account, the Bank shall not effect payment for the payment date concerned. Further payments shall only be made on the next subsequent payment date. The Customer is required to make alternative arrangements to effect the payment concerned.

2.2 Payments made via Demand Draft, Cashier's Order, Mail Transfer or Telegraphic Transfer pertaining to this order are subject to the Bank¹s prevailing terms and conditions for remittance.

2.3 The Standing Instructions are subject to any arrangement now subsisting or which may hereafter subsist between the Customer and the Bank in relation to the Account or any banking accommodation accorded to the Customer.

2.4 The Bank may terminate the Standing Instructions as to future payments at any time by notice to the Customer or without notice at any time after being advised by the payee that no further payment is required, or without assigning any reason thereof.

2.5     Any instruction to stop effecting any periodic payment under the Standing Instructions shall be deemed as instruction to terminate the Standing Instructions. Reactivation of the Standing Instructions for subsequent payments will require execution of a fresh Standing Instructions.

2.6     The Standing Instructions will remain effective for the protection of the Bank in respect of payments made in good faith notwithstanding the death or bankruptcy/winding-up of the Customer until notice of the death or bankruptcy/winding-up of the Customer or notice of revocation of the Standing Instructions has been received by the Bank.

2.7 The Standing Instructions are subject to the payment of a commission as may be determined by the Bank for each periodic payment effected by the Bank.  This charge does not include the incidental postage and stamp duty and inland exchange if applicable. The Bank may levy a charge on all standing instructions on due dates which may not be refunded even if the instruction is not effected due to insufficient funds.

2.8  Any instructions to vary or terminate or revoke the Standing Instructions shall be given by the Customer  at least two weeks (or such other period as may be stipulated by the Bank) before payment date.