Terms and Conditions for. Individual Account Opening and Procedure of. PT Bank DBS Indonesia

Transcription

1 Terms and Conditions for Individual Account Opening and Procedure of PT Bank DBS Indonesia These Terms and Conditions for Individual Account Opening and Procedure of PT Bank DBS Indonesia ( Terms and Conditions ) govern legal relationship between PT Bank DBS Indonesia and each person who uses the Bank s services and who is a prospective or existing account holder ( Customer ) at the Bank in relation to all products and services available to the Customer. A DEFINITIONS AND INTERPRETATION 1. DEFINITIONS In these Terms and Conditions, unless the context determines otherwise, the following terms shall have the meaning as defined below. "ATM" means ATM (Automated Teller Machine) services; "Bank" means PT Bank DBS Indonesia, Jakarta principal office, and its branch offices, including its and their successors in title and substitutes; "Deposit", which is usually also referred to as fixed deposit, means a Bank s product which is similar to savings and subject to a specified period of time during which funds deposited by the Customer may not be withdrawn and may be withdrawn only on its maturity date; "Flexi Fixed Deposit" means a fixed deposit account which has 1 month + 7 days tenor and is flexible like savings in terms of fund withdrawals; "Business Day" means each day specified by Bank Indonesia ( BI ) on which all banks throughout Indonesia are open for business, and not required by BI to be closed, including, without limitation to, clearing services; Version : DBS 136(1)

2 "Collection" means the Bank s service for collection of payments for commercial paper to any third party in other place or city within the country; "Periodical Instruction" means a written instruction issued by the Customer to the Bank to take the actions set out in section D of clause 6, which instruction shall be effective as of the time it is issued until its revocation in writing by the Customer or to be automatically no longer effective upon the expiry of the period specified by the Customer in the written instruction. "Instrument" means written payment instructions (cheques), written transfer instructions (bilyet giro), drafts, bank s drafts and other similar means of payment or transfer instruction; Participant means each person, firm, company or organization in Indonesia or other places who or which, from time to time, participates or involves directly or indirectly in providing ATM Services; "PIN" means the "Personal Identification Number" issued by the Bank to the Customer to be able to use ATM services; "Account" means saving accounts, giro accounts or loan which withdrawal can be made at any time by using an Instrument, either existing or other accounts which will be opened in the future under the Customer's name; "DBS Maxi Account" means the DBS savings/giro product which is called Maxi and has a feature that allows automatic conversions into Flexi Fixed Deposits. A reference herein to applicable fees", applicable commissions, "applicable charges, applicable minimums, and "applicable rates shall be a reference to the fees, commissions, charges, minimums and rates set from time to time by Bank. 2. INTERPRETATION Unless defined otherwise, in these Terms and Conditions: Version : DBS 136(1)

3 headings are inserted not for interpreting the purposes of the articles. words and terms used in singular form shall include their plural form and vice versa. B GENERAL TERMS 1. ACCOUNT OPENING A Customer or a prospective Customer who intends to open an account with the Bank must submit an application in writing to the Bank by attaching, at least, the following documents: (i) National Identity Card (Kartu Tanda Penduduk, "KTP"), Driving License (Surat Ijin Mengemudi, "SIM") or Passport, in case of individual Customer; (ii) Taxpayer Registration Number (Nomor Pokok Wajib Pajak, "NPWP"); (iii) specifically for Foreigners (Warga Negara Asing, "WNA"), Temporary Resident Card (Kartu Izin Menetap Sementara, "KITAS") or Permanent Resident Card (Kartu Izin Tinggal Tetap, "KITAP") must be provided in addition to passport; (iv) and such other documents as the Bank may require from time to time, as specified in Bank Indonesia Regulation on the Implementation of Know Your Customer Principles as may be amended from time to time. If all the requirements under point are satisfied, the Customer shall sign the Terms and Conditions and provide his/her specimen signature which must be identical to the signature identified in the KTP, SIM or Passport or other personal identification documents provided by the Customer to the Bank. (c) The Customer represents and warrants that: Version : DBS 136(1)

4 (i) (ii) the Customer is not currently listed in the Blacklist issued by BI; the Customer will be responsible for any misuse or withdrawing of his/her Instruments; (iii) each Instrument request must be made in writing by the Customer and the return of the first sheet (receipt) of the Instrument must be done at the time of the Instrument received by the Customer or the person authorized by him/her; (iv) the Customer is not objected to his/her account being closed and his/her name being listed in the Blacklist whenever he/she withdraws a blank Instrument as specified in section C of clause 1 (Current Accounts and Provisions on Cheques and Giros); (v) the Customer releases the Bank, if acting as the party receiving a payment or transfer instruction from the Customer (the withdrawee), from all legal actions against each legal consequence that arises from the rejection of the Instrument made by the Customer; (vi) the Customer is willing to comply with the terms governing the signing of an Instrument, payment of duties, stamps and other terms governing Instrument withdrawal; (vii) the Customer will immediately notify the Bank on any change in his/her data or identity, including, without limitation to, changes of address or office address, telephone number and NPWP; (vi) in case of the Customer opens a Joint Account, he/she is required to comply with the provisions on Joint Accounts as set out in section B clause 6 (Use of Joint Accounts); (ix) in case of the Customer opens Current Account and Savings Account, he/she is required to comply with the following provisions: Version : DBS 136(1)

5 "crossed cheque" or "not negotiable" cheque presented to the Bank must be deposited into an account and cannot be withdrawn in cash; The Bank may, at its own discretion, refuse to act on instructions to stop perform a payment of an Instrument, unless before the payment is made by the Bank, the Bank has received a written statement that the relevant Instrument is lost. The Bank shall not responsible if a payment has been made before receiving an official report from the police; The Bank will pay an interest based on Bank s applicable rate of interest for saving account, which is calculated on a daily balance basis (excluding deposit with Instrument which will be provided later). The interest will be credited monthly after tax deduction. If the last day of the relevant month falls on a public holiday, the interest rate for that day will be counted in accordance with the balance on the preceding Business Day. No interest is payable if the daily balance is below the minimum amount required for the account. (d) Bank may require such other things as it considers necessary in the Terms and Conditions in order to prevent misuse of an Instrument by the Customer or unauthorized parties. (e) A copy of the Terms and Conditions which have been signed by the Customer must be provided to the Customer together with the Instrument used to withdraw funds in the account. (f) (g) Account opening becomes effective if and only if approved by Bank. The funds available in the account are included in the guarantee program organized by the Indonesia Deposit Insurance Corporation (LPS, Lembaga Version : DBS 136(1)

6 Penjamin Simpanan) in accordance with the terms and conditions determined by LPS. 2. PROVISION OF FUNDS AND DEPOSIT The Customer must provide adequate funds in his/her account which is maintained with the Bank, as set out in the statement letter for prime customer service or such other amount as determined and notified by the Bank from time to time pursuant to the provisions of applicable laws. If the combined balance per month is in average below the amount determined by the Bank, a monthly fee will be charged by referring to the rate and fee information contained in the brochures, website or other media applicable at the Bank. Deposit of funds into the account may be made after the Customer has filled out a form and enclosed the data required by the Bank as specified in point 1 (Account Opening). The Bank will send to the Customer a report on the position and Bank s calculations of the Customer s funds available in the account ( Account Statement ) periodically or at such other time as requested by the Customer and approved by the Bank. (c) Unless the Bank determines otherwise, the Bank may accept an Instrument to be credited to Customer s account. If the Bank views that the Instrument cannot be credited to the Customer s account, the Bank will notify this matter to the Customer not later than 14 (fourteen) Business Days since the date of the Instrument was presented to the Bank. The Bank is authorized from time to time to determine whether a document can be or cannot be credited into the Customer s account. Before making deposit for such Instrument to the Bank, the Customer must warrant and confirm that the data contained in the Version : DBS 136(1)

7 Instrument to be deposited is all correct. The Bank is not bound to complete any data that are not contained in the Instrument. (d) In case of Collection, the Customer cannot make withdrawals in respect of the Instrument until it is credited by the Bank. If the Bank is required to credit the Customer s account with withdrawal proceeds, such credit shall always be claimed back from the Customer at the amount so credited when withdrawal is rejected, or the amount received by the Bank is less than the amount credited. In each withdrawal, all costs paid by the Bank will be charged to the Customer s account, including clearing fees for local collections, telex and commission fees for international collections by referring to the rate and fee information contained in the brochures, website or other media applicable at the Bank, pursuant to the terms and conditions applicable at the Bank. 3. WITHDRAWAL The Bank permits the issuance or submission of an Instrument from the Customer to a holder ( Withdrawal ), and the Bank will debit Customer s account when the Bank receives an application form for debiting an Instrument which contains a specimen signature accepted by the Bank and so long as the application is in accordance with the terms and conditions governed by the Bank. Each change in the Instrument or other withdrawal application must be confirmed by withdrawer s full signature which conforms to the specimen signature. (c) The Bank is not bound to pay each withdrawal application if (1) the funds available in the Customer s account is not adequate, unless there is an agreement which provides otherwise, or (2) if the Bank determines that the withdrawal application contains a signature that is different from the specimen Version : DBS 136(1)

8 signature provided to the Bank even if such application was issued by an authorized party, or (3) for other causes subject to the provisions of the applicable laws and/or prudential banking principle. 4. CLOSING OR CANCELLATION OF ACCOUNT Pursuant to the provisions of point 4 below, the Bank may close the Customer s Account without the Customer's approval and without being obligated to give explanation of the same. The Bank will give notice not later than 7 (seven) Business Days prior to closing of such account. With regard to the balance containing in that Account, the Customer can withdraw it. In the event that the Customer does not withdraw the balance in the closed Account, the Bank will place that balance in an escrow account or such other accounts as designated by the Bank. The Bank will not pay interest on the balance containing in the account that will be closed. Without prejudice to the general provisions of these Terms and Conditions, the Customer agrees that the Bank may close his/her Account at any time if: (1) balance in the account is below the applicable minimum requirement; (2) the Customer's account becomes inactive; (3) the Customer committed a breach in relation to a cheque or bilyet giro; (4) the Customer committed a breach under the applicable laws and regulations. (c) The Customer may for a specific reason ask the Bank to close his/her account. (d) In the event that the Customer s account is closed: (i) the Customer agrees that all the advantages received in relation to the Account will end. (ii) the Customer agrees to pay the cost or costs payable to the Bank, including cost for closing the account, SDB fees, and stamp duty fees by Version : DBS 136(1)

9 referring to the rate and fee information contained in the brochures, website or other applicable media at the Bank and return the cheque or bilyet giro book to the Bank. (iii) the Customer agrees that the Bank is not responsible for the payment of cheques, bilyet giros or other fund withdrawal applications submitted to the Bank after the Account is closed. (iv) the Customer agrees that the Bank will transfer the funds remaining in the Account to the account designated by the Customer. (v) these Terms and Conditions will continue to be in full force until all of Customer s obligations have been fully performed. (e) The Bank may, at its own discretion or consideration, cancel the opening of the account applied for by the Customer without his/her approval and without being obligated to give explanation of the same, unless so required by the applicable laws. (f) The Customer may cancel the Account opening which has been applied by giving a written notice to the Bank. 5. OPERATION OF ACCOUNTS The Customer agrees that the Bank is not liable for any losses incurred by the Customer or other persons if the Bank has acted based on the instructions provided via facsimile or other means and the Customer agrees to fulfill all provisions in accordance with the statement letter for instructions via facsimile or other means determined by the Bank. The Customer agrees that the Bank is not liable for any losses or damages incurred by the Customer or other parties as the result of the Bank s receives double instructions, unless such losses or damages incurred by the Customer Version : DBS 136(1)

10 or other parties, based on a final court decision have been proven, caused by the fault and/or negligence of the Bank s management and/or employees working for the Bank. (c) The Customer agrees that the Bank may employ the service of correspondent banks or agents and that the Bank is not liable for any losses or damages incurred by the Customer or other persons resulted from the acts or omissions or delays in taking actions of those parties, unless the such losses or damages incurred by the Customer or other parties, based on a final court decision have been proven, caused by the fault and/or failure of the corresponding banks and/or agents working for the Bank. 6. USE OF JOINT ACCOUNT In the event that an account is registered under two or more Customers' name: the credit balance in that account at any time is owned by all of the account holders or the surviving account holder as the owner of joint account. The parties are jointly and severally responsible for all obligations arising from the joint account; the account may be used at the instruction of one of the account holders and will bind the other account holders. However, in the event that the Bank receives different instructions from each of the account holders, the Bank will only act in respect of the joint Account when it has received instructions from all the account holders whether or not the Account requires one or more signatures from the holders; and (c) If the Account is registered under two or more names of account holders, (1) in the event that such account is operated by using one signature, the Bank has the right to act on written instructions from one of the account holders (without further authorization from or notice to the other account holder(s)) to Version : DBS 136(1)

11 close the Account; and (2) in the event that such account is operated by using joint signature, the Bank has the right to act on written instructions of all the account holders to close the Account. (d) these Terms and Conditions and all obligations set out herein shall bind the account holders jointly and severally. In the event that the Customer opens a Joint Account, the name which is listed the first is the Main Account Holder. Based on the above: (i) the Customer agrees that each correspondence for the Joint Account will be sent only to the Main Account Holder; (ii) the Customer and the other Joint Account holders are jointly and severally responsible for the repayment of all amounts due to the Bank in connection with the Joint Account. 7. COSTS AND TAXES All costs, taxes, interest and fines payable for the services provided by the Bank and other amounts due from the Customer to the Bank in relation to the product or other services, including default interest which is paid in accordance with the provisions of these Terms and Conditions or other agreements in relation to credit facility extension, or other costs, will be paid by debiting the Customer s account, event if such debit may result in overdraft of the Customer s account. Fees for an inactive Account with credit balance below the minimum balance specified by the Bank from time to time and notified by the Bank in accordance with the provisions of applicable laws or fees for closing all the Customer s accounts. (c) In the event that the Bank appoints lawyers to exercise or protect its rights or to settle a dispute relating to the monies available in an account, whether by Version : DBS 136(1)

12 legal proceedings or other settlements, the Customer warrants to reimburse the Bank for all costs incurred in connection with that event, including legal fees (on lawyer and client relationship basis). (d) All amounts payable by the Customer under these Terms and Conditions must be paid in full without deduction, set-off or restrictions or any kind of conditions whatsoever and clear and free from any taxes or deductions whatsoever. In the event that the Bank is required by law or regulation to make deduction or withholding on account of taxes or other reasons for every payment to the Bank, the Customer must pay additional sum in the amount equivalent to such deduction or withholding and ensure that the Bank receives the full amount of the payment free and clear of taxes or any kind of deduction whatsoever as the amount which the Bank should have received had such taxes or deductions not been made. 8. FOREIGN EXCHANGE TRANSACTIONS The Customer agrees if he/she makes cash withdrawal, based on his/her instructions, the Bank may pay in cash in a foreign currency other than the Account s currency. The Customer agrees that, if a transaction is concluded in a currency other than the Account s currency, the Bank may convert the proceeds of the transaction into the Account s currency at the Bank s applicable rate of exchange and the Bank may charge the Customer for that conversion pursuant to the Bank s applicable rules. (c) The Customer agrees that, if there is a foreign exchange transaction from Rupiah, the Customer will deliver a statement letter and such supporting documents as required by the Bank pursuant to the applicable rules. Version : DBS 136(1)

13 Pursuant to Bank Indonesia Regulation No. PBI 16/16/PBI/2014 & PBI 16/17/PBI/2014 regarding purchase of foreign currencies in relation to Rupiah with Bank and SE BI 16/14/DPM regarding purchase of foreign currencies in relation to Rupiah between the Bank and the Domestic and SE BI 16/15/DPM regarding purchase of foreign currencies in relation to Rupiah between the Bank and Foreign Party (this provision is subject to change if any amendment is made to the Bank Indonesia regulation), the procedures applicable for the conversion are as follow: (i) The Customer or the foreign party making a foreign currency purchase transaction against IDR, in the value of up to US$100,000 (one hundred thousand United States Dollars) per month per Domestic Customer or foreign party through spot transactions from all banking systems in Indonesia, is obligated to deliver a duly stamped or authentic statement letter that his/her purchases of foreign currencies in relation to IDR do not exceed US$100,000 (one hundred thousand United States Dollars) from all banking systems in Indonesia. (ii) the Domestic Customer who purchases foreign currencies against Rupiah with the Bank in the amount exceeding US$100,000 (one hundred thousand United States Dollars) or the equivalent per month per Domestic Customer, must enclose the following documents: (A) Transaction Underlying Documents that support the transactions and can be accounted for; (B) Supporting Documents including Photocopy of the Customer s identification documents and taxpayer registration number (NPWP)for customers and duly stamped written statement Version : DBS 136(1)

14 signed by the customer s authorized person or authenticated statement from customer that include such information: Authenticity and Validity of the underlying documents Transaction underlying documents were only used to purchase foreign currency against Rupiah, in the maximum amount equivalent to the nominal value identified in them, in the Indonesian banking system. (C) Amount needed, intention and date of foreign currency usage, in terms of the transaction underlying documents was estimation. (iii) If a foreign party purchases foreign currencies against Rupiah with the Bank in the amount exceeding US$100,000 (one hundred thousand United States Dollars) or the equivalent per month per foreign party through spot transactions, must enclose the following documents: (A) Underlying Documents that support the transactions and can be accounted for; (B) Supporting Documents in the form of authenticated statement from customer that include such information: Authenticity and Validity of the underlying documents Transaction underlying documents were only used to purchase foreign currency against Rupiah, in the maximum amount equivalent to the nominal value identified in them, in the Indonesian banking system. Version : DBS 136(1)

15 (C) Amount needed, intention and date of foreign currency usage, in terms of the transaction underlying documents was estimation. (iv) If Foreign Party Customer received transfer Rupiah, which was derived from transactions other than derivative transactions in the amount exceeding US$1,000,000 (one million United States Dollars) or the equivalent per day per foreign party, customer must enclose the underlying documents that support the transactions and can be accounted for the Bank. 9. ACCOUNT STATEMENT The Customer will carefully examine each Account statement. The Customer agrees that such statement is deemed correct if he/she raises no objection in writing within a period of 14 (fourteen) days of the date of the statement. If the Account statements do not arrive at the Customer s address, the Customer agrees that the Bank may stop printing the Account statements until the Bank receives a notice in writing or in such other manner as the Bank may apply, from the Customer regarding new correspondence address. (c) The Customer agrees that the Bank may correct any mistakes in the data contained in each account statement and notice. (d) The Bank shall be released from all claims and losses incurred in relation to debit or credit transactions set out in the Account statements if such statements are considered to be correct by the Customer. 10. INADEQUATE BALANCE The Bank may refuse to perform the Customer s instructions if the balance in the Customer s Account is inadequate. If the Bank, in its sole discretion, performs instructions resulting in debit balance in the Customer s Account, Version : DBS 136(1)

16 the Customer is deemed to have accepted incidental overdraft facility pursuant to Bank Indonesia regulations and accepts the Bank s requirements applicable for overdraft facility. If more than 1 cheque and/or bilyet giro and/or payment instruction and/or withdrawal instruction is addressed to the Bank at the same time and the credit balance in the Account is not adequate, the Bank may, in its sole discretion, determine which of the cheques and/or bilyet giros and/or payment and withdrawal instructions is to be prioritized first in terms of payment. 11. CUSTOMER S DEATH, INSOLVENCY, AND UNKNOWN WHEREABOUTS In the event that the Customer passed away, the Bank has the right to: (i) keep each credit balance in the Customer s account without prejudice to the Bank s rights over such balance which may arise out of guarantee, charge, pledge, set-off, other claims or counterclaims, whether actual or incidental, or other costs in relation to each action deemed necessary to be taken by the Bank in relation to claims from other parties; (ii) close the Customer s Account by giving prior notice to his/her heirs no later than 7 (seven) Business Days before the account is closed; (iii) require the delivery of a heir designation letter or an official letter, including, without limitation to, a statement from a notary as specified in the Bank s internal rules. The transfer of the Customer s estate to his/her heirs or their representatives or to an executor of the Customer s estate releases the Bank from any obligation, as set out in these Terms and Conditions. Subject to the provisions of point above, if there are two or more Customers named in an account, and one of them passed away, the Version : DBS 136(1)

17 Customer agrees that the balance in the Account is owned by the surviving Customers and heirs of the dead Customer, and the operation or closing of the Account will also be subject to instructions from the heirs and the surviving Customers. The Customer agrees that the Bank may operate or close the Account only upon receipt by the Bank of a death certificate, heir certificate issued by a Notary and/or government authority and/or a court of competent jurisdiction, and other related documents in complete sets as set out in the procedures upon Death of Customer identified in the brochures, website or other media applicable at the Bank. (c) If the Customer s whereabouts is unknown, the Bank has the right to keep the credit balance in the account without prejudice to the Bank s rights over such balance which may arise out of guarantee, charge, pledge, set-off, other claims or counterclaims, whether actual or incidental, or other costs in relation to each action deemed necessary to be taken by the Bank in relation to claims from other parties (d) In the event of the Customer s insolvency, the Bank has the right to act for and/or in line with the requests made by a curator or other agencies authorized to declare insolvency of the Customer, as required by and in accordance with the applicable laws and the Bank may require documents specifying written statements from government authorities or the relevant court in relation the Customer s insolvency and other relevant matters. (e) Upon documentations period as mentioned above, either those relating to death or insolvency of the Customer, which are delivered to the Bank, the Bank will look into them carefully to check if they can be used as evidence, but the Bank is not responsible for whether or not they are true, genuine, valid or complete and whether or not they have been translated correctly or interpreted properly. Subject to the conditions imposed and the release given Version : DBS 136(1)

18 by the aforesaid persons, the Bank may act on the instructions of those persons and the payment made by the Bank to them shall be valid and appropriate evidence of the satisfaction of the Bank s obligation to the Customer or his/her substitutes and successors in title. (f) The Bank shall be released from all claims, demands, suits, proceedings and any kind of actions whatsoever made by heirs, executors or administrators of the Customer who has passed away, insolvent or whose whereabouts is unknown. 12. INACTIVE ACCOUNT (DORMANT) In order to protect customer funds, the Bank reserves the right to change the account status from active to inactive/dormant account, if there is no debit transaction on customer account made by customer for 6 (six) consecutive months for the current account or for 12 (twelve) consecutive months for savings account. During the dormant status of the account, then all debit transactions and some credit transactions especially related to fund transfer through Sistem Kliring Nasional/SKN, Real Time Gross Settlement/RTGS, Telegraphic Transfer/Telex cannot be executed, unless the transaction is related to Bank charges. (c) The activation of dormant account status can be done based on the request of the customer in accordance with Bank s prevailing activation procedure from time to time. C PRODUCTS 1. CURRENT ACCOUNTS AND PROVISIONS ON CHEQUES AND GIROS Version : DBS 136(1)

19 The Customer understands that the Bank will accept a cheque or other instrument of order to pay to a third party only if: (i) the cheque or such other instrument of order to pay does not contain the words Paid Account or Non-Negotiable ; and (ii) the cheque or such other instrument of order to pay has been endorsed properly; and (iii) the Customer has provided all information required by the Bank regarding transfer and endorsement of the instrument of order to pay or the acceptance of the same by the Customer. The Customer agrees that, if the fund from the cheque or such other instrument of order to pay have been credited to an Account and the cheque or the instrument of order to pay is later rejected for any reason, the Bank may withdraw or take back the same amount of funds from that Account and the Bank may hold such instrument of payment. The Customer also agrees to reimburse the Bank for all losses, costs, damages, and expenses which the Bank may have incurred in relation to the rejection of the instrument of order to pay or for claims made by other parties in relation to such instrument of order to pay. (c) The Customer understands that he/she is fully responsible for any misuse of a cheque/bilyet giro. (d) The Customer agrees that in the event that he/she breaches any of the provisions on cheque or bilyet giro withdrawal, the Bank will close the Account and the Customer's name will be listed in the National Blacklist (DHN, Daftar Hitam Nasional). Version : DBS 136(1)

20 (e) The Customer shall release the Bank from all legal actions and liabilities against any legal consequences that may arise from the rejection of a blank cheque/bilyet giro. (f) In the event of a post-dated cheque: (i) without taking into account the date specified in the cheque, if the holder presents the Customer s cheque before the date specified in the cheque, the Bank will pay or transfer funds to the extent that it meets the formal requirements and there is adequate balance or fund in the Account. (ii) if the post-dated cheque is not supported by adequate balance in the Account or the Account has been closed, such Customer s Cheque may be classified as a blank cheque (cek kosong). (g) The Customer agrees that the Bank may reject a cheque/bilyet giro in accordance with the applicable banking regulations. (h) The Customer agrees that the Bank may refuse to pay cheques, giros and withdrawal letters in accordance with the provisions of applicable banking regulations. (i) The Customer will not withdraw a cheque or giro or try to make withdrawals using any instrument (including Periodical Instruction) unless there are adequate funds in the Account for disbursement and agrees that the Bank may return without payment all cheques or giros or slips or withdrawal forms and may refuse to make other payments if the funds available in the Account are inadequate. (j) The Customer understands that he/she will always make sure that there are adequate funds available in the Account to cover all withdrawals made out of it. Version : DBS 136(1)

21 (k) The Customer agrees that he/she can stop the circulation of a cheque only if he/she submits a written request to the Bank. The Customer agrees that the Bank shall not be responsible for its inability to stop the circulation of a cheque or other payment. (l) The Customer agrees that he/she can stop a Periodical Instruction if he/she requests the Bank to do so within 7 (seven) days before the date on which the Periodical Instruction is to be carried out. (m) In the event that the Bank returns the funds of a cheque which was stated to be lost, the Customer agrees to compensate the Bank for all claims, losses, costs, damages and expenses incurred if the cheque is then presented and the Customer must return the original cheque to the Bank if it is found. (n) In the event that the Customer is listed in the National Blacklist pursuant to the applicable rules of BI, the Bank can close the Account and the Customer is obligated to provide an amount of funds into an escrow Account designated by the Bank to pay any outstanding Instruments withdrawn by the Customer. In this case, the Customer shall immediately return to the Bank each unused Instrument and other property of the Bank held by the Customer. (o) The closing of an account will not release the Customer from his/her outstanding obligations to the Bank. Each amount remaining in the closed Account will be used to pay the obligations outstanding on the Instruments issued. 2. DBS ACCOUNT (DBS MAXI) FLEXI FIXED DEPOSIT FOR DBS ACCOUNT (DBS MAXI) The Customer agrees that, if total of the funds remaining in each Customer s DBS Maxi Account, as determined by the Customer, is greater than Rp 100,000,000 (one hundred million Rupiah), such funds will automatically be placed in Flexi Fixed Version : DBS 136(1)

22 Deposit. However, if the minimum balance requirement for DBS Maxi, which is Rp 25,000,000 (twenty five million Rupiah), is not met or not adequate for the Customer s transactions, this Flexi Fixed Deposit will automatically be cashed per multiple of Rp 50,000,000 (fifty million Rupiah), and if such cashing results in the Flexi Fixed Deposit being less than the minimum balance, the amount remaining in the balance of the Flexi Fixed Deposit will be cashed into DBS Maxi account. 3. DEPOSIT 3.1. DEPOSIT APPLICATION Fixed Deposit Application ( Application ) is a proof of Deposit in the name of the depositor identified in it as an instrument that is non-negotiable and nontransferable to other party. In the event that the depositor dies, the nominal value of and the interest accrued on the deposit under this Application will be paid, at the time of or upon maturity, by the Bank to the lawful heirs of the depositor. The nominal value of the Deposit may be paid in Rupiah or any of the foreign currencies available at the Bank with fixed period, according to the depositor s wish and with the Bank s approval. (c) The applicable rate of interest is subject to the Bank s applicable rules on the currency date or extension on the applicable date. The interest paid into the Account is paid after deduction for taxes. (d) If this Deposit is not cashed on the maturity date or on its extension, it will automatically be extended, subject to the following: (i) (ii) deposited in the same nominal value and for the same period; and has such interest rate and subject to such other rules issued by the Bank as are applicable at the maturity date or on the extension. Version : DBS 136(1)

23 (e) Each change of the depositor s name, address or signature must be immediately reported in writing to the Bank. (f) Depositor must bear all costs and expenses incurred out of the Deposit opening, including taxes imposed on interest payable to the depositor. 3.2 DEPOSIT ADVICE Deposit advice will be given for each new Rupiah and foreign currency Deposit opened with the Bank. Deposit advice is only a proof of Deposit and not a document of ownership and cannot be used as security. 3.3 DEPOSITS AND WITHDRAWALS Each placement on Deposit will be accompanied by a placement period and maturity instruction, and if the Customer neglects on that matters, The Bank in its own discretion will place the Deposit in any period and automatically renew the principal and interest on the maturity date in accordance with the Bank s applicable rules on interest rate at the time of renewal. 3.4 FOREIGN CURRENCY ACCOUNTS AND FOREIGN CURRENCY FIXED DEPOSIT ACCOUNTS DEPOSITS AND WITHDRAWALS The Bank has the right to refuse Deposits in any currency. Deposits and cash withdrawals in foreign currencies are subject to the availability and proper notice received by the Bank and subject to the Bank s applicable rules on commissions and fees in relation to the foreign currency exchange. (c) Deposits in United States Dollar (US$), Singapore Dollar (S$) and Indonesian Rupiah (IDR) will be placed at a rate on the day on which the currency is purchased from and received by the Bank, provided that such day shall be a Version : DBS 136(1)

24 Business Day. Deposits in other currencies will be placed at such rate and on such Business Day as the Bank considers applicable, in accordance with the current market practice or as determined by the Bank from time to time. (d) The Bank is not obligated to act on each instruction in relation to withdrawal of a Deposit unless the depositor or the authorized signatory has shown his/her identification card or passport together with a withdrawal application form and signature acceptable to bank. (e) Withdrawal of United States Dollar, Singapore Dollar and IDR Deposits may be made on their maturity date. Withdrawal of Deposits in other currencies may be made on their maturity date only if the Bank has received a prior written notice of such withdrawal. Withdrawals (in whole or in part) prior to maturity date may be made with the Bank s approval and subject to the provisions on payments of interest, promo and penalties as referred to in rate and fee information identified in brochures, website or other applicable media at the Bank. With respect to Deposits in foreign currencies, fees in the amount determined by the Bank may be charged for any withdrawal prior to the maturity date and this may result in the payment being smaller than the principal amount of the Deposit currency CHARGES AND COMMISSIONS All withdrawals from a foreign currency current Account are subject to the Bank s applicable provisions on commissions and charges in relation to deposit/withdrawal/foreign currency exchange TAXES AND FOREIGN CURRENCY RISKS OF CUSTOMER S ACCOUNT The Customer acknowledges and agrees that there are foreign currency exchange rate risks in relation to foreign currency Deposits and balance. Therefore, the Customer agrees that: Version : DBS 136(1)

25 (i) receipts on a foreign currency Account depend on the rate of exchange applicable on the maturity date or at the time of withdrawal, whichever is applicable; and (ii) an unfavorable change in the value of a foreign currency from exchange rates may result in the loss of receipts from interest. The Bank is not responsible or liable to the Customer for any decrease in the value of funds as the result of taxing or depreciation or unavailability of funds for withdrawal at any time or on maturity date due to restrictions or exchanges, requisitions, non-obligatory transfers, distraints, uses of government or military power, wars, strikes or other causes which are beyond the Bank's control. In addition: (i) the Bank is not obligated to pay the Customer an amount of funds into the Account, either by giro (draft) or in cash, using the same or other currency if the country of origin of the foreign currency restricts the supply, credit or transfer of the funds. (ii) if, for any reason, the Bank cannot effectively provide funds, it may at its own decision and without notice to the Customer hold payment of interest on funds for that period, or change the placement period, as it thinks necessary. 3.5 DEPOSIT GUARANTEE The Account will be guaranteed by Indonesia Deposit Insurance Corporation (Lembaga Penjamin Simpanan (LPS)) in accordance with the applicable rules. 4. OVERDRAFTS The Customer cannot withdraw an Instrument or withdraw funds in the amount greater than the funds available in the Account unless with a prior written approval of the Bank. In the event that an Instrument cannot be cashed due Version : DBS 136(1)

26 to inadequacy of funds in the Account, the Bank will return it and all costs incurred in relation to such return of the Instrument will be charged to the Customer. The Bank has the right to close the Account if, within a period of 6 (six) months, the return of Instrument due to inadequacy of funds or overdraft has occurred 3 (three) or more times. In relation to the above, the Customer must know or first check the amount of the funds he/she has in his/her Account. The Bank may, at its own decision, give an overdraft or other facility in relation to the Bank s decision to pay an Instrument where the Customer s funds in the Account are inadequate to make that payment. (c) In the event that the Customer withdraws funds in an amount which exceeds the balance of his/her Account, the excess amount withdrawn, together with the Bank s applicable interest, commission and charges, must be paid within 7 (seven) Business Days of the date the Customer makes that withdrawal. If the excess amount is not paid by the last Business Day at the end of the month, the Bank is authorized to use the deposit pledged. (d) In the event that the Customer has made the payment specified in point (c) above, each amount received thereafter by the Bank for deposit into the Account may be applied against satisfaction of the amounts payable to the Bank. 5. OTHER PARTY S PRODUCTS The Bank is not deemed liable for the performance of other party s products, or for any losses incurred, which are distributed by the Bank and have been agreed to be purchased or ordered by the Customer. Version : DBS 136(1)

27 In the event that such third party s product gives protection or guarantee to the principal amount placed, the Bank is not responsible for such protection and guarantee. D SERVICES 1. INSTRUCTION BY FACSIMILE If the Customer requests for the provision of this service, he/she is subject to the specific terms and conditions which may apply to govern such service. 2. CONTACT CENTER For information and complaints about all the Bank s banking products, the Customer can contact DBSI customer center telephone number identified in the brochures, website or other media applicable at the Bank. In the event that the Customer makes a complaint or objection in writing, such complaint or objection must be accompanied by photocopies of personal identification and other related supporting documents, in accordance with the Bank s applicable rules (for example, savings book or Account Statement, if the complaint relates to savings). Such written complaint or objection will be solved by no later than 20 (twenty) Business Days after the date of receipt of such written complaint and, in specific events which are permitted by the applicable laws and regulations, the complaint settlement may be extended for 20 (twenty) Business Days by written notice to the Customer or his/her authorized representative together with the reasons for such extension. (c) In the event that the Customer intends to make a verbal complaint or objection, the Bank will solve it within 2 (two) Business Days. But, if such verbal complaint or objection remains unsolved within that time limit, the Bank will ask the Customer or his/her authorized attorney to make a written complaint or objection to the Bank together with the supporting documents. Version : DBS 136(1)

28 Such written complaint will be solved by no later than 18 (eighteen) Business Days after the date of receipt of such complaint and in specific events permitted by the applicable laws and regulations, the complaint settlement may be extended for 20 (twenty) Business Days by written notice to the Customer or his/her authorized representative together with the reasons for such extension (c) The Bank has the right to carry out a recheck or verification and identification of the Customer before providing services at the Contact Center based on the procedures specified by the Bank from time to time, subject to the provision of applicable laws. (d) The Customer hereby agrees that his/her instructions will be processed in accordance with the time limits set by the Bank. (e) The Customer hereby authorizes the Bank to record or take a note of the Customer's conversations with the Bank through this service. 3. INSTRUCTION BY TELEPHONE If the customer request for the provision of this service and the Bank accepts such request, the Customer will be subject to the specific terms and conditions applicable for governing the provision of such service. 4. SAFE DEPOSIT BOX SERVICE In the event that the Customer uses Safe Deposit Box services, the Customer agrees to comply with the provisions relating to Safe Deposit Box, at any time deemed reasonable, during the Bank s normal business hours. The Customer has access to Safe Deposit Box, subject to the rules set from time to time by the Bank and as notified to the Customer. Version : DBS 136(1)

29 The Customer must prepay annual rent in the amount as will be notified by the Bank to the Customer from time to time. If the Customer does not want to continue the Safe Deposit Box rent, the Customer must notify in writing to the Bank within 1 (one) week before the annual rent expires. If no such notice is given and the keys are not given back on or before the due date, the rent is deemed to be continued to the next year and the Customer is obligated to pay the next year s rent. (c) In the event that the rent is not paid on the due date, the Bank will in this case give a notice to the Customer asking him/her to pay the rent and if within 30 (thirty) calendar days after the giving of such notice, the rent has not been paid, the Bank has the right to open the Safe Deposit Box before a notary. 5. GENERAL TERMS ON ATM The Bank may, at the Customer s request, issue an ATM card ( DBS ATM Card ), which can be either delivered, at the Customer s risk, to the Customer s address or collected by the Customer himself/herself. The Customer must set his/her own ATM PIN. The Customer hereby agrees and consents to release the Bank from any kind of claims and liabilities whatsoever if the aforesaid ATM PIN and/or DBS ATM Card becomes in the possession of an unauthorized person unless it is caused by the Bank s fault. The Customer must protect his/her ATM PIN and/or the DBS ATM Card provided to him/her and complies with all the terms and conditions, security procedures and other requirements and notices from the Bank and/or Participants in relation to the use of the same or, as the case may be, the Customer must ensure that he/she has complied with the provisions of this clause on ATM PIN and/or DBS ATM Card. (c) The Customer shall immediately notify the Bank if: Version : DBS 136(1)

30 (i) (ii) his/her ATM PIN has lost or been disclosed to a third party; or his/her DBS ATM Card has lost or broken or is used by an unauthorized person; or (iii) other event which, by the terms of this Agreement, allows the Bank to suspend or cancel the use of ATM Service has occurred. The Bank may at any time upon receipt of notice from the Customer on the occurrence of any of the events mentioned above, suspend or cancel the use of ATM Service by the Customer. (d) Upon the occurrence of any of the events specified in Clause c above, the Bank may, at its own consideration, issue a replacement DBS ATM Card in accordance with the terms and conditions applicable for ATM Service and charge the Customer for such replacement. (e) The Bank provides 24-hour ATM services to its Customers for banking transactions using ATM card. (f) ATM card can be used at an ATM network both in Indonesia and overseas to the extent that the network is available for the ATM card. (g) The Bank and/or Participants, at any time, without prior notice to the Customer and without giving any reason, may: (i) (ii) limit, suspend or terminate any or all of the ATM services; or not permit or permit a transaction if the Bank, in its own discretion, deems appropriate; or (iii) withdraw or suspend the Customer s right and authority to use ATM services; or (iv) keep or reject DBS ATM card and/or PIN. Version : DBS 136(1)

31 (h) The Customer can at any time use the ATM Network 24 hours save for the times of regular maintenance, cash refill or other matters which are beyond the Bank s control and cause the 24-hour ATM services to be suspended. (i) In the event that ATM card is used for a transaction made through an ATM network outside Indonesia: (i) The Customer is subject to the applicable regulations in the relevant country. (ii) the transaction will use the rate of exchange determined by the Bank or the agency possessing the relevant ATM Network. (iii) in the event that the Customer performs a foreign exchange transaction at an ATM Network outside Indonesia, he/she is aware of and responsible for the risk of fluctuation in the rate of exchange in connection with that transaction. (iv) transaction is subject to the restrictions applicable in the country in which the ATM Network is located. (v) The Customer may be required to deliver the documents related to the foreign exchange transaction done through the ATM Network. (j) The Customer must keep his/her ATM card in a safe place and take all security measures against falsification, fraud, loss or theft relating to his/her ATM card and ATM PIN, including, without limitation, by not giving ATM PIN to other party, and exercising due care when making transactions at ATM machine. (k) In the event that the Customer s ATM PIN is notified to or found by other party, he/she must immediately change the PIN. The Customer can change his/her ATM PIN at any time and the Bank has the right to reject the numbers selected by the Customer in the change of his/her ATM PIN for certain Version : DBS 136(1)