Common use of Foreign Currency Savings Account Clause in Contracts

Foreign Currency Savings Account. (a) A Foreign Currency Savings Account may be opened with an initial minimum deposit in such amount (whether in US Dollars or any other currency) as required by the Bank. If an Account is closed within 6 months of the date of its opening the Bank may at its discretion impose a charge in such amount as the Bank may determine from time to time. (b) No passbook is issued. The Accountholder should examine the debit/credit advice in the case of withdrawals/ deposits at the counter to ensure that an appropriate entry has been made. (c) A monthly statement of account/consolidated statement will be sent provided there have been entries on the Account in that month. (d) Cash withdrawals may only be effected by the Accountholder personally. Withdrawals from the Account through any other means may be effected by the Accountholder personally or by duly authorised agents of the Accountholder through authenticated written instructions from the Accountholder. (e) Without prejudice to the foregoing, the Bank may require the Accountholder to produce his identity card or passport or other satisfactory form of identification acceptable to the Bank in order to make any withdrawal. (f) The Bank shall have the right, at its discretion, to pay to the Accountholder any amount withdrawn from the Foreign Currency Savings Account by any, or by any, combination of two or more, of the following methods: (i) by cash payment in the relevant foreign currency; (ii) by issuing a cheque drawn by the Bank on any bank (in the country of issue of the relevant foreign currency); and/or (iii) by cash payment in Singapore dollars, converted from the equivalent of the relevant foreign currency at the Bank’s then prevailing rate of exchange.

Foreign Currency Savings Account. (a) A Foreign Currency Savings Account may be opened with an initial minimum deposit in such amount (whether in US Dollars or any other currency) as required by the Bank. If an Account is closed within 6 months of the date of its opening the Bank may at its discretion impose a charge in such amount as the Bank may determine from time to time. (b) No passbook is issued. The Accountholder should examine the debit/credit advice in the case of withdrawals/ deposits at the counter to ensure that an appropriate entry has been made. (c) A monthly statement of account/consolidated statement will be sent provided there have been entries on the Account in that month.. HBSP/ CVM/ WEL/ TB/ TNC101 (d) Cash withdrawals may only be effected by the Accountholder personally. Withdrawals from the Account through any other means may be effected by the Accountholder personally or by duly authorised agents of the Accountholder through authenticated written instructions from the Accountholder. (e) Without prejudice to the foregoing, the Bank may require the Accountholder to produce his identity card or passport or other satisfactory form of identification acceptable to the Bank in order to make any withdrawal. (f) The Bank shall have the right, at its discretion, to pay to the Accountholder any amount withdrawn from the Foreign Currency Savings Account by any, or by any, combination of two or more, of the following methods: (i) by cash payment in the relevant foreign currency; (ii) by issuing a cheque drawn by the Bank on any bank (in the country of issue of the relevant foreign currency); and/or (iii) by cash payment in Singapore dollars, converted from the equivalent of the relevant foreign currency at the Bank’s then prevailing rate of exchange.

Foreign Currency Savings Account. (a) A Foreign Currency Savings Account may be opened with an initial minimum deposit in such amount (whether in US Dollars or any other currency) as required by the Bank. If an Account is closed within 6 months of the date of its opening the Bank may at its discretion impose a charge in such amount as the Bank may determine from time to time. (b) No passbook is issued. The Accountholder should examine the debit/credit advice in the case of withdrawals/ deposits at the counter to ensure that an appropriate entry has been made. (c) A monthly statement of account/consolidated statement will be sent provided there have been entries on the Account in that month. (d) Cash withdrawals may only be effected by the Accountholder personally. Withdrawals from the Account through any other means may be effected by the Accountholder personally or by duly authorised agents of the Accountholder through authenticated written instructions from the Accountholder. (e) Without prejudice to the foregoing, the Bank may require the Accountholder to produce his identity card or passport or other satisfactory form of identification acceptable to the Bank in order to make any withdrawal.. HBSP/ CVM/ WEL/ TB/ TNC101 (f) The Bank shall have the right, at its discretion, to pay to the Accountholder any amount withdrawn from the Foreign Currency Savings Account by any, or by any, combination of two or more, of the following methods: (i) by cash payment in the relevant foreign currency; (ii) by issuing a cheque drawn by the Bank on any bank (in the country of issue of the relevant foreign currency); and/or (iii) by cash payment in Singapore dollars, converted from the equivalent of the relevant foreign currency at the Bank’s then prevailing rate of exchange.