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Terms and Conditions for DBS iBanking
Service
By entering or attempting to enter or using the Service, the
Customer thereby agrees to the following Terms and Conditions.
1. |
Definitions
In these Terms and Conditions, the following words and expressions shall
have the corresponding meanings wherever appropriate:
"Access Codes" means the username and password
or other security code(s) (whether or not provided to the
Customer by the Bank) required to gain access to the Service, as may be changed from time to time;
"Account" means any Current Account, Savings Account, DBS Wealth Account, DBS Treasures Account, DBS Treasures Private Client Account, DBS Private Bank Account, Credit Card Account, Time Deposit Account, Securities Account and/or such other account(s) held with the Bank which has been registered for use of the Service;
"Associate" means a company or body corporate
which is a member of the same "group of companies"
(as defined in Section 2 of the Companies Ordinance);
"the Bank" means DBS Bank (Hong Kong) Limited
(including its successors and assigns);
"the Customer" means the holder(s) of an Account,
including any executors, personal representatives, administrators,
lawful successors and permitted assigns;
"the Customer's Computer" means a computer and
modem together with all software and other hardware connected
thereto necessary to access the Service;
"Exchange" means The Stock Exchange of Hong Kong Limited (or any successor);
"Fee Schedule" means the Bank Charges Schedule
published by the Bank (including any effective supplement
or addendum in relation thereto), a copy of which is available
from the Website or at any DBS branch;
"Hong Kong" means Hong Kong Special Administrative
Region of the People's Republic of China;
"HKSCC" means Hong Kong Securities Clearing Company Limited (or any successor);
"Instructions" means instructions that are given
to the Bank in accordance with Clause 6 via the Service
pursuant to access with the valid Access Codes in accordance
with the procedures prescribed by the Bank;
"Related Persons" means, in respect of any company,
its Associates and the directors, officers, employees and
agents of that company and/or its Associates;
"Securities Account" means the securities account opened with the Bank;
"Securities Trading Service" means the on-line trading service made available from time to time on the Website;
"the Service" means the Internet banking services (including the Securities Trading Service) provided by the Bank on the Website, which allows the Customer to operate the Account(s) online;
"the Service" means the Internet banking services provided
by the Bank on the Website, which allows the Customer
to operate the Account(s) online;
"SMS" means short message service which allows
the Customer to receive text messages sent through a mobile
service network; and
"Trading Day" means a day on which the Exchange opens for trading for its regular trading sessions; and
"Transactions" has the meaning given under Clause
6.2.
"Website" www.dbs.com/hk or such other Internet website operated and/or maintained by or on behalf of the Bank.
Headings are used for convenience only and should not be
taken into account when construing these Terms and Conditions. |
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2. |
Customer's Confirmation of Eligibility
The Customer confirms that he/she is:
| (a) |
an individual person aged 18 years or older; |
| (b) |
either the owner of the Customer's
Computer or that the owner of such computer system
has duly authorized the Customer to use it to access
and use the Service; and |
| (c) |
ordinarily resident in, and the Customer's Computer is located in, Hong Kong or in such other jurisdiction where the Service may lawfully be used by the Customer and provided by the Bank. |
The Customer agrees to immediately notify the Bank in writing if any of the above confirmations cease to be correct. Unless special arrangements are then agreed in writing with the Bank, the Customer must immediately cease using the Service.
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3. |
Limitations of the Internet Technology
3.1 |
The Customer accepts that the Internet is a new and rapidly advancing technology. Accordingly, while the Bank is committed to developing its Internet capabilities:
(a) |
the Service may not meet all the Customer's requirements or expectations; |
(b) |
the functionality of the Service may from time to time be varied; |
(c) |
the Bank will endeavour to ensure the proper functioning of the Service, but its operation may be subject to interruptions and/or require periodic modifications and improvements; and |
(d) |
to help reduce the risks, the Bank may set (and from time to time revise) limitations on the transaction size, fund transfer destinations and other features of the Service and/or may set user requirements. |
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3.2 |
The Bank shall not be responsible for delays in the transmission, receipt or execution of Instructions due to any cause not under the Bank's reasonable control, including but not limited to a breakdown or failure of communication facilities or any interruption, delay, corruption or interception of such communication. |
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3.3 |
The Customer recognizes that in addition to delays due to Internet related factors (including those referred to in this Clause 3), rapid market information changes and other market factors can sometimes cause the carrying out of Instruction to be delayed or made impossible, including Instructions to deal at particular quoted prices or rates; or "at best" or "at market" prices. The Customer accepts these constraints. |
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3.4 |
Any exchange rate, interest rate, dealing rate and other prices and information quoted by the Bank on the Website or otherwise in response to an online enquiry is for reference only and is not binding. The Customer shall be bound by any exchange rate, price or information offered by the Bank specifically at the time and for the purpose of the relevant transaction and accepted by the Customer. |
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4. |
Customer's Obligations
The Customer agrees that at all times:
(a) |
the Customer will not disclose or permit any other person to obtain the Customer's Access Codes or otherwise to gain access to the Customer's Account(s) through the Service; |
(b) |
the Customer will ensure that no other person has unauthorized access to the Service (whether by use of Customer's Computer or otherwise) and, without limitation, will ensure that no other person has access to any password or other authentication required to obtain such access; |
(c) |
the Customer will not use or attempt to use the Service for any purpose other than that for which it was intended; |
(d) |
the Customer will not, and will not attempt to, reverse engineer, decompile, disassemble or otherwise tamper with the Service or any systems or software operated by or on behalf of the Bank, or assist or permit anyone else to do so; and |
(e) |
the Customer shall use all data, information and real-time quotes on the Website for the Customer's personal use and reference only. These must not to be reproduced, duplicated, sub-listed or transmitted or used for commercial purposes or framed on a third party's website, and the Customer shall not furnish such data, information or quotes to any other person or entity for any reason. |
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5. |
Access Codes
5.1 |
Access to the Service will require the use of valid Access Codes. The Customer's Access Codes may be dispatched by the Bank, at the Customer's risk, to the Customer's last known address or mobile number, through an ATM or in such other manner as the Bank may prescribe.
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5.2 |
The Customer acknowledges and accepts
that any person who gains access to or acquires
knowledge of the Customer's Access Codes will
be able to access the Service and give Instructions
to the Bank in respect of the Customer's Account(s),
including but not limited to placing orders, withdrawing
or otherwise dealing with the Customer's funds.
The Customer must take appropriate measures to
safeguard the Access Codes, such as those suggested
in Clause 15. The Customer agrees to hold the
Bank harmless if any person other than the Customer
acquires knowledge of the Customer's Access Codes.
The Bank will not be responsible for any losses
arising out of any unauthorized Transactions except
due to any causes listed in Clause 16.
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5.3 |
In addition to the Access Codes, the Bank may, in its sole discretion, require the Customer to use a one-time password sent to the Customer via SMS to access the Service, in the event of which it is the sole responsibility of the Customer to apply to the Bank for the dispatch of such one-time password. |
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5.4 |
The Customer recognizes that the Customer's mobile service provider may not allow the Customer to receive the one-time password via SMS if the Customer is abroad or using an overseas mobile service network. In addition, service charges may be levied by the service provider for receiving the one-time password. The Bank will not be liable for any such charges levied by the service provider or any other party. |
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5.5 |
Delivery of the one-time password via SMS may be subject to delayed transmission due to the traffic over the mobile service network of the Customer's mobile service provider. The Bank will not be liable for loss arising out of any interruption or delays due to any failure of the mobile service network. |
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6. |
Giving of Instructions
6.1 |
The Bank shall be entitled (but not bound) to accept and rely on any or all instructions, directions, notices and/or other communications, whether given by telephone, through the Internet or in writing in accordance with the Access Code arrangements for the Service (or which the Bank otherwise reasonably believes to be genuine) and the Customer shall be responsible for and be bound by all such instructions, directions, notices and/or communications. |
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6.2 |
The Bank will receive and act on Instructions with respect to the Customer's Account(s) or other relationships with the Bank ("Transactions"), subject always to the following:
(a) |
the Bank shall ensure that before carrying out any Instruction, the Instruction is authenticated by the Bank through checking any one or more of the Customer's Access Codes, but without the obligation to carry out any further authentication or other steps; |
(b) |
the Bank shall be entitled (but not bound) to give effect to any Instruction received, in such terms as received. The Bank's record of any Instruction shall (unless there is an obvious error) be final and binding; |
(c) |
the Bank may refuse to act on any Instruction which in the Bank's opinion is not practicable or reasonable for the Bank to do so, or that it is not in accordance with its regular business practices and procedures; |
(d) |
the Bank accepts no responsibility for the accuracy or completeness of any data, or corruption, interception, deletion or loss of data due to any fault, failure or malfunctioning of the Customer's Computer; |
(e) |
the Customer will be bound by any Instruction received in conjunction with any one or more of the Customer's Access Codes; and |
(f) |
normally an electronic acknowledgement will be issued once the Bank receives an Instruction, but under certain circumstances an Instruction may not actually be processed until the next batch processing day for Instructions of that kind. |
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6.3 |
The Customer undertakes to confirm any Instruction in writing as soon as possible upon request by the Bank. |
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7. |
Effect of Instructions
7.1 |
Once given, an Instruction may not be amended, cancelled or withdrawn. All Instructions (as understood and acted on by the Bank in good faith) shall be irrevocable and binding on the Customer whether given by the Customer or by any other person. The Bank shall have no obligation or duty to verify the authenticity of any Instruction or the identity or authority of any person giving any Instruction, other than to verify any one of the Access Codes. |
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7.2 |
Every statement of account shall be deemed and treated as authorized and correct and as ratified and confirmed by the Customer unless the Bank shall receive the Customer's written notice to the contrary within 90 days after the date such statement is deemed to have been received by the Customer. |
| 7.3 |
The Customer acknowledges that any Instruction for the Securities Trading Service is good for the day only and that it will lapse at the end of the Trading Day on which such Instruction is given, unless the Customer has prescribed a longer period for which an Instruction would be good then such Instruction will lapse at the end of the last day of the prescribed period. Any Instruction given by the Customer on a day which is not a Trading Day will not be processed until the next Trading Day. |
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8. |
Acknowledgement of Instructions
The Customer agrees to notify the Bank as soon as practicable on occurrence of any of the following events:
(a) |
after placing an Instruction, the Customer has not received:
(i) |
an order reference number; and |
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(ii) |
an accurate acknowledgement of the Instruction or of its execution (whether by hard copy, electronic or verbal means); or |
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(b) |
an acknowledgement is received (whether by hard copy, electronic or verbal means) of a Transaction which the Customer did not instruct or if any other query or issue arises in respect of such acknowledgement. |
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9. |
Bill Payment
The Customer may from time to time instruct the Bank to effect payment to merchants, the government, charity organizations or any other third parties as pre-defined by the Bank from time to time for bill settlement on the date as specified by the Customer subject to acceptance by the Bank.
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10. |
Fund Transfer Services
Transactions involving transfer of funds between any Accounts, or between any Account and any other accounts of the Customer and/or third parties held within the Bank and/or with other banks can only be accepted if the necessary arrangements have been established by the Bank. Such fund transfers shall wherever practicable be processed on the same day or otherwise on the next bank business day at the discretion of the Bank or any other day specified by the Customer and agreed by the Bank.
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11. |
Time Deposit
The Bank may from time to time accept Instructions to establish time deposits at the Bank through the Service for the Customer. The terms of the time deposit (such as the interest rate and maturity date) shall be determined by the Bank based on the Instructions received. The Bank's record shall be conclusive evidence of the Instructions given. The Bank will provide to the Customer a receipt or an advice for all time deposits.
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12. |
Alert Service
The Bank may send emails or SMS messages to Customers
(“Alert Service”) in connection with Transactions
conducted through the Service. Use of the Alert Service
is subject to the Alert Service Terms and Conditions.
Customers can obtain a copy of the relevant terms and
conditions from the Website or from any of the Bank’s branches.
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13. |
Application of Product Terms and Conditions
The terms and conditions for the products to which any Transaction relates (for example, the terms and conditions of the use of any relevant Account, Phone Banking Services or other Bank products or services) shall apply in addition to these Terms and Conditions. In respect of the Service, if there is any inconsistency between such terms and condition and these Terms and Conditions, the
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14. |
Fees and Charges
The Bank is committed to providing Customers with clear information about its fees and charges. Customers should note that:
(a) |
the Bank may impose fees and charges for effecting Transactions under the Service, as shown in the Fee Schedule. The Customer agrees that such fees and charges may be debited from any account of the Customer held with the Bank; and |
(b) |
notifications to any changes to the Fee Schedule will be posted on the Website and shall only become effective not less than 30 days after the date of posting. |
| (c) |
the Customer agrees to pay the Bank's fees and charges (including applicable levies imposed by the Exchange, and all applicable stamp duties, charges, transfer fees, interest and other expenses in respect of the Securities Account or any Transaction) at such rates as are from time to time notified. |
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15. |
Customer's Responsibility for Security
The Customer accepts full responsibility for security of the Access Codes and use of the Service and agrees to act prudently and in good faith, including by taking the following security measures:
(a) |
the Customer should ensure that access to the Service is through the genuine website of the Bank; and |
(b) |
access to the Service shall only be available upon inputting the valid Access Codes and, where appropriate, with pre-registration in accordance with procedures prescribed by the Bank from time to time; and |
(c) |
the Customer must at all times keep the Access Codes secret and must not disclose it to any other person or write it down or record it in a manner that could result in its disclosure to or misuse by any other person; and |
(d) |
the Customer must prevent unauthorized access to the Customer's Computer when accessing the Service through such computer; and |
(e) |
the Customer must not permit the device used for receiving one-time passwords to come into the possession or control of any other person; and |
(f) |
if the Customer's Access Codes are disclosed to any other person or there is any actual or suspected misuse of the Customer's Access Codes, one-time password or the Customer's Computer or the device used for receiving one-time passwords, then the Customer must notify the Bank immediately by telephoning 2290 8888. Written confirmation of any such notification must be provided to the Bank together with detailed information of the misuse within 24 hours. |
| (g) |
the Customer realizes and accepts that any person who possesses, knows or is allowed to find out the Access Code will be able to place orders, access and withdraw funds from any of the Customer's Accounts and (except due to any causes listed in Clause 16.1) the Bank will not be responsible for any losses in relation thereto. |
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16. |
Internet security - The Bank assurance to customers
16.1 |
Provided the Customer
complies with Clause 15 (Customer's Responsibility
for Security) and provided the Customer has not
been fraudulent or grossly negligent, then the Customer
shall not be liable for unauthorized Transactions
due to:
(a) |
a computer crime that is not prevented by the security system of the Service; or |
(b) |
a human or system error caused by or which is under the control of the Bank; or |
(c) |
fraud or negligence of the Bank, its staff or agents; |
which results in (i) the loss, delay in transfer or misplacing of funds or (ii) missed or mis-directed payments (collectively "Mistaken Transactions"). In such circumstances, the Customer shall be entitled to reimbursement by the Bank for any lost funds and out of pocket interests, charges or late penalties incurred by the Customer resulting directly from the Mistaken Transactions, but the Bank shall not have any further or other obligations or liabilities to the Customer in relation to the Mistaken Transactions.
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Should the Customer be
in breach of Clause 4 or Clause 15, the Customer
shall bear all losses or damages howsoever arising. |
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17. |
Exclusion of liability of the Bank
Under the following circumstances, the Bank shall have no liability for any claim, loss or damage in relation to the Service:
(a) |
where any functionality of the Service is not available, restricted, suspended or terminated or becomes inoperative; and/or |
(b) |
where any Instruction is
not effected, or is delayed or in error for any
reason unless due to causes listed in Clause 16(a)
to (c); and/or |
(c) |
if the Customer fails to
carry out those responsibilities set out in Clause
15 (Customer's Responsibility for Security); and/or |
(d) |
to the extent such claim, loss or damage is in respect of any loss of profits or opportunity or any other consequential or indirect loss or liability arising from use of or inability to use the Service or from errors or deficiencies in that system, whether caused by negligence or otherwise. |
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18. |
Service Availability and Termination
18.1 |
The Bank's service objective is that the Service will be available at all times. However:
(a) |
whenever the Bank considers it necessary to do so, it may modify, update, restrict, suspend or terminate:
(i) |
the availability or any functionality of the Service; or
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the Customer's access privileges in respect of all or any of the Service; and |
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the Bank may terminate the registration of any Account(s) of the Customer to the Service if such service has not been accessed for three months or more. |
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18.2 |
Prior notice of any such action will normally be given by the Bank save in circumstances where it may not be practicable to give prior notice. |
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19. |
Third Party Internet User Services for Customer
19.1 |
To enrich the Website and provide more comprehensive customer services, the Bank may from time to time make available to the Customers optional Internet-based services. These may be provided by third party service providers and in all such cases, the Customer agrees and accepts that:
(a) |
such services and their contents are provided by a third party service provider under a separate arrangement not involving the Bank, and the Customer will be subject to the service provider's terms and conditions; |
(b) |
while the Bank will take reasonable steps when selecting such service providers, no assurance or guarantee can be given and no warranty or representation is made as to the service, or its suitability, content, performance, accuracy, reliability or completeness or otherwise; |
(c) |
under no circumstances will the Bank be liable for any damage, whether direct or indirect, incidental or subsequent arising out of use of and/or from suspension, disruption or other non-availability of such services, or for any errors or omissions or other problems relating thereto; |
(d) |
to enable the Customer to use certain services, the Bank may need to transfer certain personal data of the Customer to the service providers; |
(e) |
before applying for the relevant services, the Customer should consider and understand the terms and conditions as well as the personal data policy of that service provider; |
(f) |
it is solely the Customer's responsibility to decide (having due regard to the descriptions provided by the service provider) if such services are suitable, whether or not to make application for such services, and whether or not to accept the service provider's terms and conditions and personal data policy (if any); |
(g) |
no party guarantees the timeliness, sequence, accuracy or completeness of market data or any other market information and neither the Bank, its Related Persons nor any disseminating party shall be liable in any way for any loss or damage arising from or caused by any inaccuracy, error or delay in or omission from any such data, information or message, or the transmission or delivery of the same, non-performance or interruption of any such data, message or information whether or not due to any negligent act of any such person, or to any other cause beyond the reasonable control of any such party; and |
| (h) |
the market data and/or information available through the Service is provided to the Bank by the relevant participating securities exchange, association or agent which disseminate such data and information with assertion of a proprietary interest in such data and information. |
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19.2 |
The Customer is strongly recommended to contact the relevant service provider to resolve any questions and/or obtain further information and/or clarifications before applying for any such services. |
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20. |
Joint Account
20.1 |
Where the Account(s) is a joint account, references
in these Terms and Conditions to "Customer"
shall be deemed to mean all and each of the joint
account holders, and:
(a) |
the liability
of each such person shall be joint and several;
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(b) |
either/any of such
persons shall have full power and authority
to exercise all the rights and entitlements
of the Customer hereunder. |
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20.2 |
Any requirement in the mandate
for joint signatories shall be regarded as satisfied
by the use of the correct Access Codes to access
the Service. |
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20.3 |
If the Customer is a limited
company or firm (whether sole proprietorship or
partnership firm or other non-individual account
holder (of any description)), the authorized person(s)
to whom the Access Codes are issued shall be entitled
to use the Service singly irrespective of the signing
authority under the Accounts and all such use will
be binding on us. The Customer is solely responsible
for the selection and control of those person(s)
to whom the Access Codes are issued. |
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21. |
Copyright Ownership
The Customer acknowledges that the Service and all associated software are proprietary to the Bank and/or third party provider(s). The Customer shall not, and shall not assist or permit any other person to tamper with, modify, decompile, reverse engineer or otherwise alter in any way, and shall not attempt to gain unauthorized access to any part of it. At its discretion, the Bank may suspend or terminate the Customer's Access Codes and/or close any of the Customer's Account(s) immediately without prior notice if the Customer at any time breaches this or any other agreement or undertaking under these Terms and Conditions or if the Bank at any time reasonably suspects any such breach. The Customer undertakes to notify the Bank immediately upon becoming aware of any person doing any of the above.
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22. |
Amendments
These Terms and Conditions may be amended from time to time by the Bank. The Bank will notify the Customer of any amendments by posting a notice on the website. Where the Bank proposes to make amendments relating to an increase in the Bank's fees or charges and/or affecting the liabilities and obligations of the Customer, the Bank shall give at least 30 days' notice to the Customer unless it is not practicable for the Bank to do so. In such other cases, reasonable notice shall be given.
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23. |
The Bank's Compliance with Code of Banking Practice etc.
The Bank is committed to compliance with the Code of Banking Practice as well as other statutory requirements or non-statutory standards applicable to Hong Kong licensed banks. The Bank will endeavour to meet such requirements or standards when operating the Services and when applying and interpreting these Terms and Conditions.
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24. |
Personal Data
The Customer agrees to be bound by the Bank's data policy applicable from time to time which will apply to all personal data provided by the Customer to the Bank as well as to all data arising as a result of the Customer's use of the Service. A copy of the applicable data policy is available from the Website or at any DBS branch.
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25. |
Law and language
25.1 |
These Terms and Conditions shall be construed and governed by the laws of Hong Kong and subject to the non-exclusive jurisdiction of the courts of Hong Kong. |
25.2 |
If there is any difference between the English and Chinese language versions of these Terms and Conditions, the English language version shall prevail. |
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| 26. |
Regulatory Matter
All Transactions made as a result of any Instruction shall be subject to the relevant provisions of the constitution, rules (including without limitation the option trading rules), regulations, by-laws, customs and usages of the Exchange and the HKSCC as amended from time to time. All actions taken by the Bank in accordance with such laws, rules and directions shall be binding on the Customer.
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| 27. |
Risk Disclosure Statement
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The Customer understands, acknowledges and accepts that: |
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(a) |
the price of securities can and does fluctuate, and any individual security may experience upward and downward movements, and may under some circumstances become valueless. The Customer appreciates that there is an inherent risk that losses may be incurred rather than profit made as a result of buying and selling securities. This is a risk that the Customer is prepared to accept; |
| (b) |
there may be risks in leaving securities in the Bank's safekeeping. For example, if the Bank holds the Customer's securities and becomes insolvent, the Customer may experience significant delay in recovering the securities. This is a risk that the Customer is prepared to accept; and |
| (c) |
communication by the Internet is subject to inherent technological deficiencies, network traffic congestion and extraneous factors beyond the Bank’s reasonable control. For these reasons, the Internet is not always a reliable medium of communication. The Customer acknowledges and agrees that, as a result of any of the above factors, there may be failure or delays in the Bank’s receipt of Instructions and consequential failure or delays in the execution of Instructions, and/or the execution of Instructions at prices different from those prevailing at the time the Instructions were given. Such failure or delays are more likely when there are high volumes of Instructions via the internet and when the markets show greater volatility. The Customer further acknowledges and agrees that there are risks of interception of Instructions as well as of misunderstanding or errors in any communication and that such risks shall be absolutely borne by the Customer. The Customer acknowledges and agrees that it is not usually possible to cancel an Instruction after it has been given. |
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| 18 September 2011 |
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