The Cashline Revolving Loan Terms and Conditions and the Cashline Revolving Loan Fee Schedule applicable to the Cashline Revolving Loan (“Cashline”) and the Personal Instalment Loan Terms and Conditions applicable to Personal Instalment Loan, Express Loan or Debt Consolidation Loan (collectively referred as “Personal Loan”) will be revised. The main provisions which have been amended are set out below. You are advised to read carefully the information below to ensure you understand the changes made and how they may affect you.
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| A. |
Clause 17 of Cashline Revolving Loan Terms and Conditions and Clause 15 of Personal Instalment Loan Terms and Conditions will be replaced in its entirety to specify that besides by post (in the case of Cashline) or by personal delivery and post (in the case of Personal Loan), we may communicate with you by various means and the time for which the communication is considered received/delivered to you under each means.
The revised clause has the following impact on you:
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| 1. |
Any notice or communication to you may be given by us in writing or orally. If in writing, it may be delivered to you by ordinary pre-paid post, personal delivery, courier, registered mail, facsimile, short message service (“SMS”), electronic mail, electronic platforms or other electronic means to your last known address, number or electronic mail details or to such other address, number or electronic mail details as you may have notified us in writing or by other electronic means as we deem appropriate or by posting a notice on our website and it will be deemed to be given, made or received: |
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a. |
if sent by ordinary pre-paid mail to places in Hong Kong, 2 calendar days after posting (notwithstanding that it may be returned through the post office undelivered); |
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b. |
if sent by ordinary prepaid mail to places outside Hong Kong, 7 calendar days after posting (notwithstanding that it may be returned through the post office undelivered); |
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c. |
if sent by personal delivery, at the time left at the relevant address; |
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d. |
if sent by courier or registered mail, on the date it is delivered or delivery is attempted (notwithstanding that it is undelivered or returned undelivered); |
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e. |
if sent by facsimile, at the time shown on the transmission report as being successfully sent; |
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f. |
if sent by SMS or electronic mail, at the time of delivery from our electronic messaging system (notwithstanding that it was not successfully delivered); |
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g. |
if delivered via electronic platforms or other electronic means, 24 hours after we send it (notwithstanding that it was not successfully delivered); and |
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h. |
if delivered by posting a notice on our website, at the time of posting. |
| 2. |
If any communication sent to you is returned to us or if we are otherwise notified that any particular means of communication is no longer effective, subject to applicable laws, we may at our sole discretion cease to use such means of communication until you have updated the relevant contact details. |
| 3. |
If any of your personal details (including your address, employment, permanent residence or telephone number) has been changed, you should promptly inform us in writing. You should also notify us promptly in writing of any difficulty in repaying any indebtedness or in meeting any payment to us arising from the Cashline and/or the Personal Loan. |
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| B. |
A new Clause 18 and Clause 16 will be added to Cashline Revolving Loan Terms and Conditions and Personal Instalment Loan Terms and Conditions, respectively to specify the way you may give instruction to us and your obligation and responsibility when giving instruction to us. The numbering of the clauses thereafter will be changed accordingly.
The newly added clause has the following impact on you:
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| 1. |
You may give instructions to us and we may accept any instructions given: |
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a. |
in writing and delivered in person or by post, courier, electronic mail, electronic platforms or other electronic means or facsimile and, if a specimen signature was provided to us, with signing which resembles the specimen provided to us; |
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b. |
orally over the telephone or in person at any of our branches; |
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c. |
electronically through any internet banking service made available by us from time to time or otherwise via the internet; or |
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d. |
through any other channel (including electronic channel) as prescribed by us from time to time. |
| 2. |
All instructions as understood and acted on by us, shall be binding on you whether given by you or by any other person purporting to be you. Any transaction effected pursuant to or as a result of an instruction shall be binding on you whether or not made by you or with your authority, knowledge or consent. |
| 3. |
We shall have no responsibility to assess the prudence or otherwise of any instruction or to determine the authenticity of any instruction or to verify the identity or authority of the person giving or purporting to give the instruction. |
| 4. |
We shall be entitled to act in accordance with our regular business practice and procedures and will only accept instructions insofar as we consider practicable and reasonable to do so. |
| 5. |
We shall be entitled at any time, at our discretion, to refuse to carry out any instruction. We in so refusing are not obliged to give any reason nor be held responsible for refusing to act on any instructions. |
| 6. |
Without limiting the generality of our right to refuse to carry out any instruction, if we are of the opinion that there are errors, ambiguities or conflict in the instruction, we shall be entitled to refuse to execute the instruction until clarification is obtained or to construe and execute the instruction in the manner in which it is perceived by us, and we may refuse to act on any instruction that is inconsistent with any applicable law to which we are subject, and in doing so we shall not be liable or have any responsibility of any kind for any losses thereby incurred or suffered by you. |
| 7. |
If we determines that any instruction or other circumstances may expose or lead us (whether directly or indirectly) to suffer loss or incur expense or prejudice our rights or interest, or damage or prejudice our credibility, reputation or standing, we have the right to refuse to carry out the instruction, suspend the operation of account without notice to you and without giving any reasons for so doing, and to require an indemnity from you or any third party before allowing continued operation of the account or complying with the instruction, and in doing so we shall not be liable or have any responsibility of any kind for any losses thereby incurred or suffered by you. |
| 8. |
We may set cut-off times (details are available on request) by which instructions must be received in order for us to process on the same day. If instructions are received after the cut-off times or on Saturday, Sunday or public holiday on which we are not opened for general business, the instruction will be processed on the next business day. If we are to act on an instruction before a deadline, you must ensure that the instructions are given before any cut-off times or if none are specified, reasonable time is given to us to process the instruction and to communicate to any relevant third parties. We shall not be liable for any failure by you to meet the cut-off time or if the instructions are not received within a reasonable time before the deadline. |
| 9. |
You agree that we shall have no obligation or liability for carrying out instructions if (despite reasonable efforts), the instructions cannot reasonably be performed or completed by us in full and on a timely basis. We are entitled to effect partial performance of an instruction without prior notice to or confirmation from you. |
| 10. |
You acknowledge, accept and agree that any telephone instruction or instruction given by facsimile, electronic mail or other electronic means which we may allow or through such other communication channels as we may from time to time approve (“Remote Instructions”): |
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a. |
are not secure communication channels and may be given by unauthorised persons and/or for dishonest purposes; and |
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b. |
giving Remote Instructions increases the risks of error, misunderstanding and/or conflict arising, you are willing to accept such risks and agrees to be bound by the resulting transaction, as understood and carried out by us in good faith. |
| 11. |
You acknowledge, agree and/or undertake that: |
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a. |
we shall have no liability or responsibility for errors or omission contained in any Remote Instruction, or any delay in receipt or execution or any non-receipt of a Remote Instruction, provided that we have acted in good faith; |
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b. |
we shall not be liable for any losses which you may suffer in connection with us acting in accordance with the Remote Instruction including any oral instruction of a person who is not you, or any facsimile instruction upon which your signature may be forged or is otherwise unauthorised; |
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c. |
we shall be entitled at any time, at our absolute discretion, to require confirmation of Remote Instructions before carrying them out, or refuse to carry out any Remote Instruction; |
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d. |
if we give a confirmation of any Remote Instruction, you must examine such confirmation and notify us as soon as practicable but no later than within 1 business day of its receipt of any error or discrepancy or unauthorised transaction. Unless notified within such period or there is manifest error, fraud or negligence by us or our personnel, such confirmation shall be deemed correct and conclusive evidence that the instruction is authorised; |
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e. |
a note made by any of our personnel of any oral instruction shall be conclusive and binding evidence of such instruction, provided that we shall not be obliged to cause any of our personnel to make any note of any instruction and the failure to make such note shall not affect the acceptance by us of the oral instruction; |
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f. |
if any written confirmation of any Remote Instruction is given by you to us, it must be clearly marked: “Confirmation only-do not duplicate”. If any confirmation is not clearly marked in this way, we shall not be liable for any consequences, including for any losses if an instruction is executed more than once; and |
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g. |
You should ensure that any facsimile is sent to the correct facsimile number of us as advised by us from time to time and we shall have no liability for any claim or loss in relation to any failure on your part to do. |
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| C. |
Clause 9 of Personal Instalment Loan Terms and Conditions will be replaced in its entirety by the following to specify the amount of late repayment surcharge payable by you if you fail to pay the monthly instalment.
“Late Repayment Surcharge
For each month I fail to pay any Monthly Repayment Amount in full when due, the Bank will charge a late repayment surcharge of HK$1,000.” |
| D. |
The following words “The early settlement administrative fee shall be calculated by reference to the number of years in the remaining Loan period (any part of a year shall be rounded up to a year) and chargeable for each year at a rate of 1.5% per annum on the principal amount of the Loan” appearing under Clause 10 of Personal Instalment Loan Terms and Conditions will be replaced by the words “The early settlement administrative fee shall be calculated by reference to the number of years in the remaining Loan period (any part of a year shall be rounded up to a year) and chargeable for each year at a rate of 2% per annum on the principal amount of the Loan” to revise the percentage charged. |
| E. |
A new item will be added to the Cashline Revolving Loan Fee Schedule. A transaction fee of 1% with a maximum of HK$400 will be charged on each withdrawal transaction. |
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| Item |
Scale |
| Transaction Fee |
1% of the transaction amount on each withdrawal transaction
(maximum HK$400) |
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Items A to D shall come into effect from 29 January 2024 and item E shall come into effect from 27 March 2024.
The above are highlights of the key changes to the terms and conditions and are intended for your reference only. You are advised to read carefully the entire Cashline Revolving Loan Terms and Conditions and Personal Instalment Loan Terms and Conditions (as the case maybe). You may visit any of our branches or our website at go.dbs.com/hk-loantnc-en to obtain a revised copy of the terms and conditions and fee schedule. The prevailing version of the relevant terms and conditions and fee schedule is available at our website at go.dbs.com/hk-loantnc-en until 27 April 2024. You may access and download a copy for future reference before that if necessary.
Should you have any enquiries, please call our Customer Services Hotline at 2290 8888.
