Common use of Debit Cards Clause in Contracts

Debit Cards. 16.1 The Bank may at its discretion, upon receipt of the Accountholder’s application, issue to the Accountholder a debit card (the “Debit Card” which term shall include any replacement or renewal thereof). 16.2 Pursuant to the Accountholder’s request, the Bank may post the Debit Card and the PIN to the Accountholder who shall be deemed to have received the same in good order and condition upon such posting. 16.3 The Debit Card is not transferable and is issued solely for the Accountholder’s use. The Accountholder shall use the Debit Card only for effecting, processing or conducting transactions permitted by the Bank during the validity period printed on the Debit Card. 16.4 The Bank may replace or renew the Debit Card on such terms as the Bank may impose. 16.5 The Accountholder agrees that when the Debit Card is used to effect, process or conduct any transaction, it is, or shall be deemed to be, used with the Accountholder’s authority and knowledge whether or not the Accountholder has actually authorised and/or has knowledge of the use of the Debit Card and the Bank shall debit against the Accountholder’s Account any such amount transacted or processed through the use of the Debit Card. The Accountholder shall accept the Bank’s records of all transactions effected, processed or conducted through the use of the Debit Card as correct and conclusive, save in the case of manifest error, and the Accountholder agrees to be bound by the Bank’s records. HBSP/ CVM/ WEL/ TB/ TNC101 16.6 The Accountholder shall bear any loss or damage incurred or suffered by the Accountholder arising from or in connection with the use of the Debit Card. 16.7 The Bank may set or revise the card limits in relation to the Debit Card from time to time without prior notice to the Accountholder. Whenever the Bank is informed (whether by the merchant or any other person) that any Debit Card transaction or any other transaction is proposed to be effected or completed with the Debit Card, the Bank may hold or set aside out of the available credit balances or available credit on the Account an amount estimated by the Bank or the merchant or that other person to be the amount for which that Debit Card transaction is likely to be effected or completed. The amount set aside with respect to any proposed Debit Card transaction: (a) may be set aside for as long as the Bank may determine to be appropriate in the circumstances; (b) may be released at any time the Bank determines or after the Bank has debited the Account in respect of the Debit Card transaction; (c) may not be the exact amount for which that Debit Card transaction is effected and finally debited to the Account; and (d) shall not restrict or limit the Bank’s right to debit the Account with the amount of that Debit Card transaction regardless whether the amount is the same as the amount the Bank has set aside or put on hold. 16.8 The Accountholder may effect a Debit Card transaction only if there are sufficient funds in the Account to cover such transaction and the limits prescribed for the type of transaction are not exceeded. However, the Bank may, in its discretion and without giving prior notice: (a) approve, authorise or allow any Debit Card transaction to be effected during any period even though there are insufficient funds or credit in the Account; and (b) refuse to approve, authorise and/or permit to be effected any one or more Debit Card transactions even though no applicable limits have been exceeded. The Bank’s determination on whether the Debit Card limit has been exceeded shall be conclusive and binding on the Accountholder. 16.9 When the Accountholder uses the Debit Card outside Singapore, the Debit Card transaction shall be charged in the official currency of the country where the Debit Card is used and converted into Singapore Dollars at such exchange rate at such times as the Bank may determine at its discretion, and the Bank shall be entitled to debit the Account with the amount of the Debit Card transaction. The Accountholder’s right to effect any Debit Card transaction is subject to any exchange controls, regulations or limitations prevailing in such country. In any event, the Accountholder shall fully indemnify the Bank for all exchange risks, losses, communications and other fees and charges that may be incurred. The Bank may charge, credit and debit, as may be appropriate, all sums payable to it under this Agreement to the Account and for this purpose convert credits and charges incurred into the currency of the Account at such rate or rates of exchange as the Bank may determine. The Accountholder shall bear all exchange risks, losses, commission, fees and charges that may arise. 16.10 The Accountholder agrees to pay and authorises the Bank to debit the Account for the following: (a) a fee of such amount(s) as the Bank may prescribe which shall not be refundable in any event, for each Debit Card transaction; (b) an administrative fee of such amount(s) as the Bank may prescribe for any records, statements, sales draft, credit vouchers or other documents relating to the use of the Debit Card and copies thereof which are made available at the Accountholder’s request; (c) where by any arrangement between the Accountholder and any financial institution, any payment is to be made to the Bank for credit to the Account, whether at regular intervals or otherwise, a fee of such amount(s) as the Bank may prescribe from time to time for each occasion when any payment to the Bank is not effected at the time when such payment should have been effected in accordance with such arrangement; (d) such fee as the Bank may prescribe for any replacement Debit Card; and (e) any fees and charges not specified above which the Bank might impose at its discretion upon giving the Accountholder prior written notice. All goods and services tax imposed on or payable in respect of any payment debited to the Account shall be borne by the Accountholder.

Debit Cards. 16.1 The Bank may at its discretion, upon receipt of the Accountholder’s application, issue to the Accountholder a debit card (the “Debit Card” which term shall include any replacement or renewal thereof). 16.2 Pursuant to the Accountholder’s request, the Bank may post the Debit Card and the PIN to the Accountholder who shall be deemed to have received the same in good order and condition upon such posting. 16.3 The Debit Card is not transferable and is issued solely for the Accountholder’s use. The Accountholder shall use the Debit Card only for effecting, processing or conducting transactions permitted by the Bank during the validity period printed on the Debit Card. 16.4 The Bank may replace or renew the Debit Card on such terms as the Bank may impose. 16.5 The Accountholder agrees that when the Debit Card is used to effect, process or conduct any transaction, it is, or shall be deemed to be, used with the Accountholder’s authority and knowledge whether or not the Accountholder has actually authorised and/or has knowledge of the use of the Debit Card and the Bank shall debit against the Accountholder’s Account any such amount transacted or processed through the use of the Debit Card. The Accountholder shall accept the Bank’s records of all transactions effected, processed or conducted through the use of the Debit Card as correct and conclusive, save in the case of manifest error, and the Accountholder agrees to be bound by the Bank’s records. HBSP/ CVM/ WEL/ TB/ TNC101. 16.6 The Accountholder shall bear any loss or damage incurred or suffered by the Accountholder arising from or in connection with the use of the Debit Card.. HBSP/ CVM/ WEL/ TB/ TNC101 16.7 The Bank may set or revise the card limits in relation to the Debit Card from time to time without prior notice to the Accountholder. Whenever the Bank is informed (whether by the merchant or any other person) that any Debit Card transaction or any other transaction is proposed to be effected or completed with the Debit Card, the Bank may hold or set aside out of the available credit balances or available credit on the Account an amount estimated by the Bank or the merchant or that other person to be the amount for which that Debit Card transaction is likely to be effected or completed. The amount set aside with respect to any proposed Debit Card transaction: (a) may be set aside for as long as the Bank may determine to be appropriate in the circumstances; (b) may be released at any time the Bank determines or after the Bank has debited the Account in respect of the Debit Card transaction; (c) may not be the exact amount for which that Debit Card transaction is effected and finally debited to the Account; and (d) shall not restrict or limit the Bank’s right to debit the Account with the amount of that Debit Card transaction regardless whether the amount is the same as the amount the Bank has set aside or put on hold. 16.8 The Accountholder may effect a Debit Card transaction only if there are sufficient funds in the Account to cover such transaction and the limits prescribed for the type of transaction are not exceeded. However, the Bank may, in its discretion and without giving prior notice: (a) approve, authorise or allow any Debit Card transaction to be effected during any period even though there are insufficient funds or credit in the Account; and (b) refuse to approve, authorise and/or permit to be effected any one or more Debit Card transactions even though no applicable limits have been exceeded. The Bank’s determination on whether the Debit Card limit has been exceeded shall be conclusive and binding on the Accountholder. 16.9 When the Accountholder uses the Debit Card outside Singapore, the Debit Card transaction shall be charged in the official currency of the country where the Debit Card is used and converted into Singapore Dollars at such exchange rate at such times as the Bank may determine at its discretion, and the Bank shall be entitled to debit the Account with the amount of the Debit Card transaction. The Accountholder’s right to effect any Debit Card transaction is subject to any exchange controls, regulations or limitations prevailing in such country. In any event, the Accountholder shall fully indemnify the Bank for all exchange risks, losses, communications and other fees and charges that may be incurred. The Bank may charge, credit and debit, as may be appropriate, all sums payable to it under this Agreement to the Account and for this purpose convert credits and charges incurred into the currency of the Account at such rate or rates of exchange as the Bank may determine. The Accountholder shall bear all exchange risks, losses, commission, fees and charges that may arise. 16.10 The Accountholder agrees to pay and authorises the Bank to debit the Account for the following: (a) a fee of such amount(s) as the Bank may prescribe which shall not be refundable in any event, for each Debit Card transaction; (b) an administrative fee of such amount(s) as the Bank may prescribe for any records, statements, sales draft, credit vouchers or other documents relating to the use of the Debit Card and copies thereof which are made available at the Accountholder’s request; (c) where by any arrangement between the Accountholder and any financial institution, any payment is to be made to the Bank for credit to the Account, whether at regular intervals or otherwise, a fee of such amount(s) as the Bank may prescribe from time to time for each occasion when any payment to the Bank is not effected at the time when such payment should have been effected in accordance with such arrangement; (d) such fee as the Bank may prescribe for any replacement Debit Card; and (e) any fees and charges not specified above which the Bank might impose at its discretion upon giving the Accountholder prior written notice. All goods and services tax imposed on or payable in respect of any payment debited to the Account shall be borne by the Accountholder.

Debit Cards. 16.1 The Bank may at its discretion, upon receipt of the Accountholder’s application, issue to the Accountholder a debit card (the “Debit Card” which term shall include any replacement or renewal thereof). 16.2 Pursuant to the Accountholder’s request, the Bank may post the Debit Card and the PIN to the Accountholder who shall be deemed to have received the same in good order and condition upon such posting. 16.3 The Debit Card is not transferable and is issued solely for the Accountholder’s use. The Accountholder shall use the Debit Card only for effecting, processing or conducting transactions permitted by the Bank during the validity period printed on the Debit Card. 16.4 The Bank may replace or renew the Debit Card on such terms as the Bank may impose.. HBSP/ CVM/ WEL/ TB/ TNC101 16.5 The Accountholder agrees that when the Debit Card is used to effect, process or conduct any transaction, it is, or shall be deemed to be, used with the Accountholder’s authority and knowledge whether or not the Accountholder has actually authorised and/or has knowledge of the use of the Debit Card and the Bank shall debit against the Accountholder’s Account any such amount transacted or processed through the use of the Debit Card. The Accountholder shall accept the Bank’s records of all transactions effected, processed or conducted through the use of the Debit Card as correct and conclusive, save in the case of manifest error, and the Accountholder agrees to be bound by the Bank’s records. HBSP/ CVM/ WEL/ TB/ TNC101. 16.6 The Accountholder shall bear any loss or damage incurred or suffered by the Accountholder arising from or in connection with the use of the Debit Card. 16.7 The Bank may set or revise the card limits in relation to the Debit Card from time to time without prior notice to the Accountholder. Whenever the Bank is informed (whether by the merchant or any other person) that any Debit Card transaction or any other transaction is proposed to be effected or completed with the Debit Card, the Bank may hold or set aside out of the available credit balances or available credit on the Account an amount estimated by the Bank or the merchant or that other person to be the amount for which that Debit Card transaction is likely to be effected or completed. The amount set aside with respect to any proposed Debit Card transaction: (a) may be set aside for as long as the Bank may determine to be appropriate in the circumstances; (b) may be released at any time the Bank determines or after the Bank has debited the Account in respect of the Debit Card transaction; (c) may not be the exact amount for which that Debit Card transaction is effected and finally debited to the Account; and (d) shall not restrict or limit the Bank’s right to debit the Account with the amount of that Debit Card transaction regardless whether the amount is the same as the amount the Bank has set aside or put on hold. 16.8 The Accountholder may effect a Debit Card transaction only if there are sufficient funds in the Account to cover such transaction and the limits prescribed for the type of transaction are not exceeded. However, the Bank may, in its discretion and without giving prior notice: (a) approve, authorise or allow any Debit Card transaction to be effected during any period even though there are insufficient funds or credit in the Account; and (b) refuse to approve, authorise and/or permit to be effected any one or more Debit Card transactions even though no applicable limits have been exceeded. The Bank’s determination on whether the Debit Card limit has been exceeded shall be conclusive and binding on the Accountholder. 16.9 When the Accountholder uses the Debit Card outside Singapore, the Debit Card transaction shall be charged in the official currency of the country where the Debit Card is used and converted into Singapore Dollars at such exchange rate at such times as the Bank may determine at its discretion, and the Bank shall be entitled to debit the Account with the amount of the Debit Card transaction. The Accountholder’s right to effect any Debit Card transaction is subject to any exchange controls, regulations or limitations prevailing in such country. In any event, the Accountholder shall fully indemnify the Bank for all exchange risks, losses, communications and other fees and charges that may be incurred. The Bank may charge, credit and debit, as may be appropriate, all sums payable to it under this Agreement to the Account and for this purpose convert credits and charges incurred into the currency of the Account at such rate or rates of exchange as the Bank may determine. The Accountholder shall bear all exchange risks, losses, commission, fees and charges that may arise. 16.10 The Accountholder agrees to pay and authorises the Bank to debit the Account for the following: (a) a fee of such amount(s) as the Bank may prescribe which shall not be refundable in any event, for each Debit Card transaction; (b) an administrative fee of such amount(s) as the Bank may prescribe for any records, statements, sales draft, credit vouchers or other documents relating to the use of the Debit Card and copies thereof which are made available at the Accountholder’s request; (c) where by any arrangement between the Accountholder and any financial institution, any payment is to be made to the Bank for credit to the Account, whether at regular intervals or otherwise, a fee of such amount(s) as the Bank may prescribe from time to time for each occasion when any payment to the Bank is not effected at the time when such payment should have been effected in accordance with such arrangement; (d) such fee as the Bank may prescribe for any replacement Debit Card; and (e) any fees and charges not specified above which the Bank might impose at its discretion upon giving the Accountholder prior written notice. All goods and services tax imposed on or payable in respect of any payment debited to the Account shall be borne by the Accountholder. 16.11 The Bank may at any time without giving prior notice or reason to the Accountholder suspend or terminate the use of any Debit Card or refuse to reissue, renew or replace any Debit Card or introduce, amend, vary, restrict, suspend, terminate or withdraw all or any of the benefits, services, facilities and privileges in respect of or in connection with the Debit Card and/or the use of the Debit Card. 16.12 The Bank shall not be responsible or liable to the Accountholder for any inconvenience, loss or damage or embarrassment incurred or suffered in any of but not limited to the following events: HBSP/ CVM/ WEL/ TB/ TNC101 (a) the Bank, a merchant or other bank or financial institution or any other party refuses to accept the Debit Card or to accept any Debit Card transaction for any reason whatsoever including, but not limited to, the negligent act or omission by the Bank, its servants, agents or contractors; (b) any rejection of the Debit Card or the PIN by any ATM or other machines or any failure to effect or complete any Debit Card transaction howsoever caused; any neglect, refusal or inability on the Bank’s part to authorise or approve any Debit Card or to honour or effect any other transaction on the Account for any reason whatsoever; or (c) any damages to or loss of or inability to retrieve any data or information that may be stored in the Debit Card or any microchip or circuit or device in the Debit Card howsoever caused. The Bank shall not be liable in any way for the goods purchased or services rendered and paid for by the use of the Debit Card or the delivery, quality or performance or such goods or services. The Bank shall also not be responsible for any benefits, discounts or programmes of any merchant or any other person that it may make available or introduce to the Accountholder. 16.13 The Bank shall send to the Accountholder a transaction alert for each transaction effected, processed or conducted using the Debit Card which is above the threshold amount as prescribed by or otherwise agreed to by the Bank and for each set up or change in PIN as accepted by the Bank. Such transaction alert will be sent by short message service to the Accountholder’s last known telephone number as provided to the Bank and shall be deemed to be sent on the date of transmission notwithstanding the fact that the same may not be actually received by the Accountholder. The Bank shall not be liable in any way whatsoever to the Accountholder or any other party for any loss or damage in the event that such transaction alert is received by a third party. 16.14 If the Accountholder wishes to use the Debit Card outside Singapore to effect, process or conduct any transaction, obtain cash advances, make cash withdrawals or balance enquiries at an ATM, the Accountholder will need to enroll, in advance, for overseas ATM transactions on the Debit Card via the Bank’s phone banking facility.