These Terms and Conditions govern the use of the GIRO (as hereinafter defined) made available by OCBC Bank (Malaysia ) Berhad (“OCBC” which term shall include its successors-in-title and assigns). 

In these Terms and Conditions, the following terms and expressions shall have the following meanings unless the context requires otherwise:- 

(a)        “Account(s)” means any one or more Ringgit savings and/or current account(s) maintained by the Customer with OCBC and include any other accounts which GIRO services are made available by OCBC.  

(b)         “Business Day” means a day (other than Saturdays, Sundays and public holidays) on which OCBC is opened for business in Kuala Lumpur, Malaysia.    

(c)        “Channel” means any channel through which the Customer issues Instructions to OCBC including but not limited to over-the-counter, OCBC Internet Banking Service, Automated Teller Machines (“ATM”) or such other electronic facilities or channels as may be made available  by OCBC from time to time and “Channels” mean more than one Channel as the context shall require.  

(d)        “Customer “means a person who is a customer of OCBC and who maintains one or more of the Account(s) with OCBC and includes its personal representatives, executors, administrators and successors-in-title.  

(e)        “Instructions” means any instructions or directions given by the Customer to OCBC through the Channel where the GIRO service is made available to  make payments   from the  Account(s) maintained with OCBC and to  a specified account or accounts maintained with a Participating Bank via  the Inter-Bank GIRO System.  

(f)         “GIRO” means the OCBC Inter-bank GIRO service effected through the Inter-bank GIRO System.  

(g)        “Inter-bank GIRO System” means a fund transfer payment system operated by Malaysian Electronic Payment Systems (1997) Sdn. Bhd. (including its successors-in-title and assigns) to allow customers maintaining accounts with the Participating Banks  to make inter-bank payments or collection of payments to either the  customers’ own account or to any third party account(s) maintained with a Participating Bank.  

(h)        “Participating Bank” means any bank or financial institution (other than OCBC)  which is a participant to the Inter-bank GIRO System. 

(i)         “Statement of Account” means the consolidated statement of account for the Account(s) issued or made available by OCBC periodically as may be determined by OCBC to the Customer setting out transactions in the Account(s).  

1.         The Customer will be able to access the GIRO service through the Channel where GIRO services are made available in accordance with these Terms and Conditions and the prevailing terms and conditions for the Account(s) and the relevant Channel as may be prescribed by OCBC from time to time) and to the rules, regulations, manuals and/or guidelines of the Inter-bank Giro System and any funds transfer system to which OCBC belongs to. In the event of any conflict between these Terms and Conditions for GIRO and the other terms and conditions for the Account(s) and/or the relevant Channel, these Terms and Conditions shall prevail.  

2.         The Customer intending to use GIRO shall submit to OCBC the Instructions in such form as may be prescribed by OCBC from time to time and shall include all such information as required by OCBC.  

3.         The Customer shall ensure that the particulars of the Instructions are complete and correct  so as to enable a successful transfer of funds from the Account(s) into the beneficiary’s  account and that the beneficiary’s account is capable of  receiving payment and/or collection of funds via GIRO.  

4.         Any Instructions submitted shall be irrevocable and deemed correct and binding on the Customer and payments shall be made to the beneficiary’s account with a Participating Bank based on the account number given by the Customer.    

5.         All Instructions submitted must be received by OCBC on a Business Day before the designated times stipulated by OCBC to be processed within the times stated by OCBC. Where the Instructions are received after the designated times on a Business Day or received on a non-Business Day, they will be processed on the next Business Day or such other day as OCBC may determine at its absolute discretion. The processing of the Instructions by OCBC shall also be subject to the terms and conditions and/or approval of the Participating Bank with which the beneficiary’s account is maintained with.  

6.         The minimum and maximum amount of funds which may be transferred through GIRO shall be as prescribed by OCBC from time to time and may vary from one Channel to another  

7.         The Customer shall pay for all service charges, transaction fees and/or any other charges imposed by OCBC in respect of the GIRO service and OCBC shall be entitled to deduct such fees and charges from the Account(s) or such other account as OCBC shall deem fit. OCBC reserves all rights to vary such service charges, transaction fees and/or impose additional fees or charges from time to time without prior notice to the Customer.  

8.         The Account(s) must have the funds available for transfer at the time of processing of the Instructions. OCBC shall not be obliged to carry out any Instructions unless the Account(s) have sufficient funds and is/are satisfactorily conducted or maintained.  

9.         OCBC is not obliged to inform the Customer of :- 

(a)        the rejection (if any)  of any Instructions or the results of remittance of funds from the Account(s) to a beneficiary’s  account; and 

(b)        the receipt of funds through GIRO to the Account(s) upon receipt of the
same. 

            The Customer may obtain such information from the Statement of Account.  

10.        OCBC shall not be responsible or liable for any loss, costs or damages incurred or suffered by the Customer and any third party as a consequence of the use of the GIRO service. Without limiting the generality of this provision, OCBC shall not be responsible for and shall be indemnified by the Customer against any loss or damage caused or sustained (including without limitation to loss of income, profits or goodwill, direct or indirect, incidental, consequential, exemplary, punitive or special damages of any party, including third parties) of whatever nature and howsoever arising, including but not limited to the following situations:  

(a)        where the transmission of the Instructions to OCBC or to a beneficiary’s  account with a Participating Bank  has been delayed, rejected, refused or the Participating Bank is otherwise unable to receive or accept such Instructions; 

(b)        where the Customer has failed or omitted to provide OCBC with the timely, complete and correct information for the Instructions including but not limited to the particulars of the beneficiary’s account; 

(c)        where the Customer has failed to maintain sufficient funds in the Account(s) to give effect to the Instructions or is the Account(s) is not satisfactorily conducted or maintained; 

(d)        where an order of court, governmental directive or regulation or law directs or prohibits withdrawals, transfers or any other dealings from the relevant Account(s); 

(e)        any other circumstances beyond the control of OCBC, a Participating Bank  or any other party preventing the processing or receipt of the Instructions; 

(f)         any delay, destruction or alteration of the Instructions during its transmission  through no fault of OCBC; and/or 

(g)         any delay or failure to credit the Account(s) with funds arising from instructions received from a Participating Bank through the Inter-bank GIRO System for any reason whatsoever. 

11.       OCBC reserves all rights to vary, alter these terms and conditions, and to cancel, terminate or suspend the GIRO service from time to time without prior notice to the Customer.  

12.       OCBC’s decision on all matters relating to the GIRO service will be final and binding on the Customer.  

13.       If there is any inconsistency, ambiguity or discrepancy between the English version, Bahasa Malaysia version and Chinese versions in respect of these Terms and Conditions, the English version of these Terms and Conditions shall prevail.