TERMS AND CONDITIONS FOR HONG LEONG BANK BUSINESS INTERNET BANKING
Last Updated: May 2023
The following sets out the terms upon which Hong Leong Bank Berhad (“HLBB”)/Hong Leong Islamic
Bank Berhad (“HLISB”) will provide Hong Leong Bank Business Internet Banking to HLBB’s/HLISB’s
business banking customers (“Terms and Conditions”).
Please read and understand these Terms and Conditions. By using and continuing to use the HLB
Business Internet Banking services, the Customer represents, warrants and undertakes that they have
read, understood and agree to be bound by these Terms and Conditions and any additions or
amendments as may be made thereto by HLBB/HLISB at any time and from time to time. If the
Customer does not accept any or all of these Terms and Conditions, the Customer may terminate its
subscription to and immediately discontinue all access to HLB Business Internet Banking, in
accordance with Clause 12.4.
These Terms and Conditions are also to be read together with the terms of use of the HLBB/HLISB
Website (defined in Section 1.0 below) (“Conditions of Access”). These Terms and Conditions shall
prevail to the extent of any conflict and discrepancy between these Terms and Conditions and the
Conditions of Access.
(A) GENERAL TERMS AND CONDITIONS
1. Definitions & Interpretation
1.1 Definitions
In these Terms and Conditions, the following expressions shall have the respective meanings unless
the context otherwise requires: -
“ABC Policy”
means the HLBG Anti-Bribery and Corruption Policy which is
available at the Website of HLBB or HLISB.
“Account(s)”
means banking account or accounts (which shall include, but is
not limited to, savings accounts, current accounts, Wadiah
accounts, Mudharabah accounts, virtual internet accounts but
shall not include fixed deposit accounts), which the Customer
have or may have with HLBB/HLISB that may be accessed
through HLB Business Internet Banking at any given time.
“Admin ID”
means the access identification issued by HLBB/HLISB to the
Customer’s System Administrator(s) and System Authoriser(s),
which, together with the Password, enables the Customer to
access HLB Business Internet Banking and to enable the
Customer to create and/or assign Users.
“Affected Bank Customer”
means a Biller, Payer and other clients of a Participant whose
Account has been erroneously debited or credited due to
Erroneous or Fraudulent Payment Instructions caused by other
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Participants, Billers, Payers, other clients of a Participant or
PayNet.
“Affected Biller”
means a Biller that received Erroneous or Fraudulent Payment
Instructions and/or funds due to errors of other Participants,
Billers, Payers, other clients of a Participant or PayNet.
“Affected Participant”
means a Participant that received Erroneous or Fraudulent
Payment Instructions and/or funds due to errors of other
Participants, Billers, Payers, other clients of a Participant or
PayNet.
“Affiliates”
means in relation to an entity, any corporation that controls, is
controlled by, or is under common control with, the entity.
“Anti-Bribery Laws”
means the Malaysian Anti-Corruption Commission Act 2009 as
amended from time to time, and the rules and regulations issued
thereunder, and any other applicable laws, statutes, regulations,
rules and orders that relate to bribery or corruption.
“Appropriate Authority”
means any government or taxing authority.
“Authorised Person”
mean the person or persons authorised by the Customer
(whether alone or jointly with any other person or persons) to
operate the Account(s) and issue Instructions to HLBB/HLISB and
use the Security Device (or Security Devices if more than one
Authorised Person) on behalf of the Customer through HLB
Business Internet Banking or to execute any documents on
behalf of the Customer and shall include such persons which the
Customer may include or substitute from time to time.
“Bank”
“Beneficiary of Fraud”
means a financial institution that is licenced under the Financial
Services Act 2013, Islamic Financial Services Act 2013 and/or
Development Financial Institutions Act 2002.
means the party who ultimately benefits from a Unauthorised
Payment Instruction or Fraudulent Payment Instruction.
“Bill”
means an itemised statement of money owed, or a request to
pay, for purchase of goods, provision of services and/or any
other business transaction.
“Biller”
means Government agencies, statutory bodies, sole proprietor
or partnership businesses, a company or an organisation,
societies, charities participating in the Scheme to collect Bill
Payments.
“Biller Bank”
means a Participant appointed by a Biller to facilitate the Biller’s
collection of Bill Payments via JomPAY.
“Biller Code”
means an alphanumeric code uniquely identifying either:
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- a Biller; or
- a Biller’s product or service category
for purposes of routing Payments to the Biller.
“BNM”
means Bank Negara Malaysia.
“Business Day”
means a day which HLBB/HLISB is open for business in Kuala
Lumpur.
“Common ID”
means a unique identification of a Customer which links all
DuitNow IDs registered by the Customer such as the Customer’s
business registration number, NRIC, army number, or police
number, or for non-Malaysians, passport number.
“Company ID”
means the unique identification number issued by HLBB/HLISB
to the Customer, which, together with the Password shall be
used to gain access to HLB Business Internet Banking.
“Customer”
mean a party who maintains an Account with HLBB/HLISB and is
registered with HLBB/HLISB for HLB Business Internet Banking,
which expression shall include its Authorised Persons and
successors-in-title.
“DuitNow Transfer”
means a service which allows Customers to initiate and receive
instant credit transfers using a beneficiary’s account number or
DuitNow ID.
“DuitNow ID”
means an identifier of an account holder such as a mobile
number, NRIC, passport number, army number or police number
(in the case of an individual) or business registration number (in
the case of a corporate customer) or any other identifiers as may
be introduced by the DuitNow Operator from time to time.
“DuitNow Online
Banking/Wallets”
means a real time online payment service which enables Payers
(either individual or corporate) to make secure online payments
using their mobile/internet banking account to Merchant/
Merchants.
“DuitNow Operator” or
“DuitNow Online
Banking/Wallets Owner and
Operator”
means Payments Network Malaysia Sdn Bhd.
“eToken”
means an electronic token accessed through the business mobile
application installed on a User’s Mobile Device for login and
transaction authentication purposes.
“End User(s)”
means any one or more of the Customer’s authorised employees
and/or agents which the Customer has grouped under a
Company ID and who has been assigned a User ID by the
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Customer to access to HLB Business Internet Banking for and on
behalf of the Customer.
“Erroneous Payment
Instruction”
means a Payment Instruction that is initiated wrongly or is
incorrect as follows:
- Participants post erroneous entries to Billers’/Payers’ bank
accounts, DuitNow ID or generate invalid, incorrect, misdirected
or duplicated Payment Instructions on behalf of Billers/Payers
due to technical errors or operational errors;
- Technical or operations errors at the Scheme Operator,
DuitNow Operator or NAD Operator that results in incorrect or
duplicated Payment Instructions; and
- Mistaken Payment Instruction which is directed to the wrong
Billers/Payers/DuitNow ID, contains incorrect recipient
reference numbers, carries the wrong amount, or is duplicated.
“Fraudulent Payment
Instruction”
“FX”
“Foreign Exchange Transaction”
or “FX Transaction”
means a Payment which has been induced by dishonest or
fraudulent means and which the Payer requests be refunded. It
includes cases where a Payer makes a Payment as a result of a
fraudulent invoice issued by a third party who purports to be a
Biller (and is not in fact a Biller) or a third party who impersonates
a Biller/DuitNow recipient or as a result of a DuitNow brand
displayed by a third party who purports to be a Merchant.
Means foreign exchange.
means the transaction between HLBB/HLISB and the Customer,
where one currency is sold or bought against another currency
at an FX Rate on the date of trade or at a specified future date.
Such Transactions can be booked either via HLB Business
Internet Banking or HLBB’s/ HLISB’s Global Markets department/
division.
“FPX”
means the secure online payment gateway system managed by
PayNet, that allows Customers who maintain an Internet banking
account with any of the financial institutions participating in FPX
(“Participating FI”) to make real time online payments, by using
the Customers’ existing current or savings account, between
different Participating FIs, subject to relevant terms and
conditions.
“FX Rate”
“Hong Leong Bank Business
Internet Banking” or “HLB
Business Internet Banking”
means the rate of exchange offered by HLBB/HLISB where one
currency will be exchanged for another currency or one currency
is sold or bought against another currency.
means the internet/ electronic banking facilities and/or services
provided by HLBB/HLISB (which may include cash management
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services, collection services and Trade Services) for business
banking customers including “HL Connect Biz”, “HLB
ConnectFirst” and such other services which may be known by
any other name, as may be added, withdrawn, varied or replaced
by HLBB/HLISB at any time or from time to time which enable the
Customer to perform banking services through the
internet/electronic means via the use of a computer terminal, a
Mobile Device (as defined in these Terms and Conditions) and/or
other electronic device which the Customer may access upon the
correct input of Security Codes.
“HLBB/HLISB Whistleblowing
Policy”
means the HLBB/HLISB Whistleblowing Policy or such policies
and/or procedures by whatever name called in relation to
whistleblowing as may be amended from time to time, setting
out HLBB’s/HLISB’s commitment to good business ethics and
integrity, pursuant to which employees of HLBB and HLISB, as
well as persons providing services to, or having a business
relationship with HLBB or HLISB, are required to raise any
concerns about any improper conduct or wrongful act that may
adversely impact HLBB/HLISB, including but not limited to:
(a) any criminal offences, including fraud, corruption,
bribery and blackmail;
(b) any failure to comply with legal or regulatory obligations;
and
(c) any concerns about malpractice.
“HLBG”
means HLBB and/or its subsidiaries.
“IBG”
refers to Interbank GIRO, an inter-bank fund transfer system
integrated with PAYMENTS NETWORK MALAYSIA SDN BHD
(formerly known as Malaysian Electronic Clearing Corporation
Sdn Bhd) (Company No. 836743-D) that facilitates payments and
collections via the exchange of digitised transactions between
banks.
“Instructions”
means any application, authorisation, instruction, mandate or
request issued by the Customer to HLBB/HLISB pertaining to the
Account(s) or any other Transactions initiated through HLB
Business Internet Banking Services.
“Malware”
means computer viruses, bugs or other malicious, destructive or
corrupting software, code, agent, program or macros, and/or
phishing or social engineering schemes which utilise computer
software or telecommunications to obtain personal data or any
other personal information for malicious or fraudulent purposes.
“Merchant”
Means businesses registered with the Companies Commission of
Malaysia, sole proprietors and partnerships, government
agencies, statutory bodies, societies, and other similar entities.
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“Mistaken Payment Instruction”
means a payment that is made, or not made, to a person or for
an amount which is not in accordance with a Payer’s Payment
Instructions or contains an error in the Payment Instructions
from the Payer resulting in payments which:
a) are directed to the wrong Customers;
b) contain incorrect RRN (Recipient Reference Numbers);
c) carry the wrong amount; or
d) are duplicated.
“Mobile Device”
Any mobile electronic or telecommunication device, including
without limitation, mobile phones, smartphones or tablets, that
may be used to access HLB Business Internet Banking.
“Mobile Network Service
Provider”
“NAD Operator”
means any of the registered mobile network service providers
providing mobile phone services.
means Payments Network Malaysia Sdn Bhd.
“National Addressing
Database (NAD)”
means a central addressing database established by the NAD
Operator that links a bank account or an e-money account to a
recipient’s DuitNow ID and facilitates payment to be made to a
recipient by referencing the recipient’s DuitNow ID.
“NAD Name Enquiry”
means a service which returns the name of the owner who has
registered its DuitNow ID in NAD.
“Network Service Provider”
means any internet service provider providing connection to the
Internet.
“Personal Data”
means personal data as defined under the Personal Data
Protection Act 2012.
“Privacy Notice”
HLBB/HLISB’s policies and principles pertaining to the collection,
use and storage of personal information of existing and
prospective individuals and entities dealing with HLBB / HLISB.
These policies and principles may be amended from time to time
and are made available at the HLBB / HLISB Websites
respectively.
“Participant”
A Bank that is a member of the Scheme.
“Password(s)”
means (a) the Temporary Password; and/or (b) a unique string of
alphanumeric characters chosen by the User, which are known
only to the respective User which HLBB/HLISB will authenticate
together with the User ID and/or the Company ID to gain access
to the HLB Business Internet Banking.
“Payer”
means individuals, companies, body corporate, businesses
(including sole proprietors and partnerships), government
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agencies, statutory bodies, societies and other Bank customers
that make payments to Billers using the Scheme.
“Payer Bank”
A Participant in the Scheme who offers services that allow Payers
to initiate Payment Instructions.
“Payment Date”
mean the date the Customer Account is debited for payments
effected by the Customer.
“Payment Instruction” or
“Payment” or “Pay”
an order from a Payer to its Payer Bank directing the Payer Bank
to:
a) draw funds from the Payer’s bank account; and
b) transmit an IBG entry to transfer funds to the Biller Bank to
pay a Biller for a Bill.
“PayNet”
means PAYMENTS NETWORK MALAYSIA SDN BHD (formerly
known as Malaysian Electronic Clearing Corporation Sdn
Bhd)(Company No. 836743-D), a wholly-owned subsidiary of
BNM and incorporated in October 2008 in Malaysia, who has
been appointed by BNM, to amongst others, act as agent for
BNM in carrying out BNM’s functions as a central securities and
depository and paying agent under PayNet’s rules and
procedures.
“Physical Token”
mean a physical token device issued by HLBB/HLISB to the
Customer for login and transaction authentication purposes.
“PIN Mailer”
means the document containing the Temporary Password to
gain access to HLB Business Internet Banking issued by HLBB/
HLISB to the Customer, sent physically or electronically through
email.
“Real-time Notification” or
“RTN”
A form of electronic message sent to a Biller to provide advance
notice of incoming payment from a Payer once the Payer’s bank
account has been successfully debited for a Payment Instruction
to the Biller.
“Related Business Account(s)”
means any and all accounts that any of the Customer’s Affiliate
maintains with HLBB/HLISB and for which HLB Business Internet
Banking Services are provided to such Customer’s Affiliate. The
Related Business Account(s) may be handled from time to time
by the Customer by prior written notice to HLBB/HLISB provided
that HLBB/HLISB has received the written authorisation of the
relevant Customer’s Affiliate in accordance with the constitution
of the Customer’s Affiliate and all other relevant supporting
documents required by HLBB/HLISB.
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“RENTAS”
means Real-Time Electronic Transfer of Funds and Securities
System (RENTAS) provides multi currency real time gross
settlement of interbank funds transfer integrated with PayNet.
“Reversal”
means a transaction that:
a) is initiated by a Biller to cancel an Erroneous Payment
Instruction;
b) may involve the making of a debit or credit adjustment to
the account of the Payer to which the Erroneous Payment
Instruction relates; and
c) may involve an adjustment to the bank account(s) of the
Biller named in the Erroneous Payment Instruction, if funds
from the Erroneous Payment Instruction has been applied
to the bank account(s).
“RRN”
means Recipient Reference Number.
“Scheme”
a service offered by PayNet which facilitates industry wide
ubiquitous Bill payments through the use of standard Biller
Codes and RRN (Recipient Reference Numbers).
“Scheme Operator” or “SO”
The owner and the operator of the JomPAY Scheme.
“Service”
shall refer to the relevant HLB Business Internet Banking service
as the context may require.
“Security Device”
means the Physical Token or eToken.
“Security Codes”
means the security credentials used to identify the Customer
when the Customer accesses and utilises HLB Business Internet
Banking, which includes the Admin ID, Company ID, User ID,
Passwords, codes generated by the Security Device or such other
devices approved by HLBB/HLISB and any other security codes
that HLBB/HLISB may issue/implement from time to time with
prior notice to the Customer.
“System Administrator(s)”
means the Authorised Person(s) who is authorised by the
Customer to act on behalf of the Customer as the system
administrator to perform system and User maintenance within
HLB Business Internet Banking.
“System Authoriser(s)”
means the Authorised Person(s) who is authorised by the
Customer to act on behalf of the Customer as the system
authoriser to approve the system and User maintenance within
HLB Business Internet Banking.
“Tax”
means any present or future, direct or indirect, Malaysian or
foreign tax, levy, impost, duty, charge, fee, deduction or
withholding of any nature that is imposed by any Appropriate
Authority, including, without limitation, other taxes by whatever
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name called, and any interest, fines or penalties in respect
thereof.
“Temporary Password”
a unique string of alphanumeric characters issued by HLBB/HLISB
to the Customer via PIN Mailer to gain temporary access to HLB
Business Internet Banking.
“Trade Services”
refers to the services made available online via HLB Business
Internet Banking for trade products, facilities and transactions
that are tailored to meet financial requirements for either
domestic or international trade-related activities. These services
will include but are not restricted to Trade Inquiry and Trade
Transactions (both terms are defined in Clause 30 below). The
Bank may add or remove any service in its absolute discretion at
any time and from time to time.
“Transactions”
means the transactions made available through HLB Business
Internet Banking which includes but is not limited to funds
transfer, IBG, RENTAS, foreign telegraphic transfer, Trade
Services and such other transactions as offered by HLBB/HLISB at
any time and from time to time.
“Unauthorised Payment
Instruction”
means a payment made without the authority of the Payer who
is purported to have given the Payment Instruction which
initiated that payment (and from whose account that Payment
was debited) or a Payment made by a Payer which is void for any
reason other than fraud. It includes cases where the Payment has
been made by a third party who has obtained unauthorised
access to a Payer’s account and makes unauthorised transactions
from the Payer’s account to make other payments. However, it
does not include a Fraudulent Payment Instruction.
“Unrecoverable Loss”
means the portion of funds credited to the wrong party due to
Erroneous Payments or Fraudulent Payments that cannot be
retrieved after Participants have exhausted the recovery of funds
process.
“User”
means a person and / or an End User who is duly authorised to
act for and on behalf of the Customer in regards to matters
concerning HLB Business Internet Banking and who has been
assigned a User ID for that purpose (including but not limited to
System Administrator, System Authoriser, Payment Maker and
Payment Authoriser).
“User ID”
means a unique name made up of a string of alphanumeric
characters issued by HLBB/HLISB to the User, which must be
keyed in by the User together with the Security Codes and
Company ID in order to gain access to HLB Business Internet
Banking.
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“User Guide”
means the guide or guides issued by HLBB/ HLISB to the
Customer containing operating instructions for access to HLB
Business Internet Banking and the services made available
through HLB Business Internet Banking and shall include any
amendments, variations and other user guides as may be issued
by HLBB/ HLISB from time to time.
“Website”
means HLBB’s / HLISB’s website at http://www.hlb.com.my /
www.hlisb.com.my.
1.2 Interpretation
(a) Words importing the singular shall include the plural and vice versa and those importing the
masculine gender shall include the feminine and neuter gender and vice versa.
(b) Where there are two or more persons comprised in the term "the Customer" or “Authorised
Person”, instructions, agreements, undertakings, obligations expressed to be issued or given
by or made by one person, shall be deemed to have been issued or given by or made by and
binding upon such persons jointly and severally.
2. Use of HLB Business Internet Banking
2.1 These Terms and Conditions shall be read together with the rules, regulations, terms and
conditions governing and regulating the Customer’s Account(s) with HLBB / HLISB and the related
products and services offered by HLB Business Internet Banking. If there is any inconsistency
between these Terms and Conditions and such terms and conditions/rules and regulations relating
to the usage of HLB Business Internet Banking, these Terms and Conditions shall prevail to the
extent of such inconsistency or conflict.
2.2 HLBB/HLISB reserves the right to amend, add to or delete any or all of these Terms and Conditions
and/or vary or terminate all or any part of or the scope of the banking services provided through
HLB Business Internet Banking at any time at its absolute discretion with prior notice to the
Customer (unless stated otherwise herein). The continued use of HLB Business Internet Banking
by the Customer after such notification shall be deemed as receipt and acceptance of and
agreement to the revisions in these Terms and Conditions, save for those revisions that require
Customer’s express consent and acceptance.
2.3 Further to clause 2.2 above, the Customer acknowledges that thirty (30) calendar days prior notice
of such revisions shall be given to the Customer (unless stated otherwise herein) and such
revisions shall take effect from the date stated in the notice.
2.4 Where HLBB/HLISB offers new or additional banking services to the Customer from time to time
through HLB Business Internet Banking, it shall provide prior written notice to the Customer and
may prescribe such additional and/or amended terms and conditions (if any) from time to time.
The Customer’s acceptance (if applicable) of such additions and/or amendments in the manner
prescribed by HLBB/HLISB and continued use of HLB Business Internet Banking shall be deemed
as receipt and acceptance of and agreement to such additions and/or amendments.
3. Customer’s Responsibilities
Security Details
3.1 The Customer agrees to take and shall procure that each User shall take all precautions to
safeguard the Physical Token, Mobile Device used to access the eToken and Security Codes. The
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Customer shall also prevent any unauthorised or fraudulent use of HLB Business Internet Banking
using measures including but not limited to the following:-
(a) to keep the Security Codes secret at all times and not disclose the Security Codes or cause the
Security Codes to be disclosed to any third party;
(b) that the equipment from which the User accesses and/or uses HLB Business Internet Banking
will not allow recording of the User’s activities and that the necessary anti-spyware and
firewalls are installed;
(c) that the User is always logged in to the correct URL (http://www.hlb.com.my /
www.hlisb.com.my);
(d) that the User is not to utilise HLB Business Internet Banking through Internet cafes or any
public places offering Internet services;
(e) to the changing of the Password(s) on a periodical basis or when requested to by HLBB/HLISB
from time to time;
(f) that the Security Codes should not be written down in any form or manner which may be
deciphered by anyone. Any advice sent by HLBB/HLISB to the Customer containing any
Security Codes must be destroyed immediately after the Customer has received and read
them;
(g) to inform HLBB/HLISB immediately if there is any suspicion that any Security Codes has been
disclosed to a third party and/or if the Physical Token or Mobile Device used to access the
eToken is lost or misplaced by the Customer, to enable HLBB/HLISB to prevent fraudulent or
unauthorised use of HLB Business Internet Banking;
(h) to ensure that the Customer is properly logged off at the end of each session or not leave the
computer terminal is unattended;
(i) that the Security Device and Security Codes are issued solely for the Customer or its User(s)’
use and shall not be transferred, pledged or otherwise used as security in any form nor shall
the Customer or its User(s) part with the use of the same to any other person;
(j) remove access rights and notify the HLBB/HLISB immediately of any actual or suspected
impropriety on the part of any User in connection with the usage of HLB Business Internet
Banking or where a User is no longer authorised to access HLB Business Internet Banking due
to termination or expiry of its employment with the Customer or otherwise; and
shall NOT register any third party(ies)’s biometrics in the User’s Mobile Device registered
with the HLBB/HLISB eToken, as it will be recognised by the Mobile Device as the Customer’s
biometrics. By doing that, such third party(s) will be able to access the eToken application.
HLBB/HLISB shall not be held responsible for such access or any losses or damages incurred
by the Customer and/or its User as a result of such third-party access.
3.2 The Parties agree that the Security Device and Security Codes, issued to the Customer or its User(s)
shall remain the property of HLBB/HLISB. Upon termination of HLB Business Internet Banking, the
Security Device and Security Codes shall be rendered immediately unusable.
3.3 The Customer shall immediately inform HLBB/HLISB in writing:
(a) if the Customer knows or suspects that any Physical Token and/or the Mobile Device used
to access the eToken is lost or if the Security Codes is exposed to any third party, in which
event the Customer shall immediately request for a new Physical Token or in the case of an
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eToken, reset their pin and/or Security Codes or change the Security Codes, as the case may
be, to protect the Customer’s own interest; or
(b) if the Customer becomes aware or suspects that there is unauthorised access and/or use to
HLB Business Internet Banking;
(c) if the Security Device is faulty or is not working for any reason; or
(d) upon receipt of any data or information which is not intended for the Customer.
3.4 The Customer acknowledges that HLBB/HLISB shall not be held responsible or liable for any loss
or damages suffered due to any unauthorised transactions carried out through the use of Security
Codes due to their failure to report a breach or suspected compromise of security immediately
upon discovery of such breach or compromise, unless it is due to HLBB/HLISB’s gross negligence
or wilful default.
3.5 The Customer must follow any other security rules prescribed by HLBB/HLISB whether in the
Website, under any other agreement with HLBB/HLISB, or otherwise notified to the Customer by
HLBB/HLISB in any other way.
User Guide
3.6 The Customer agrees that the Customer is to read and understand the User Guide before
attempting to use HLB Business Internet Banking.
4. Operation of HLB Business Internet Banking
Access and/or use to HLB Business Internet Banking
4.1 Upon approval by HLBB/HLISB of the Customer’s application for the HLB Business Internet Banking
Service, the Customer will be issued with a Security Device and/or Temporary Password upon
payment of a fee prescribed by HLBB/HLISB in accordance with Clause 6 of these Terms and
Conditions.
4.2 The Customer shall use the relevant Security Codes provided by HLBB /HLISB to log into HLB
Business Internet Banking in accordance with the prescribed HLBB/HLISB procedures in the User
Guide. Through the appointment of System Administrator and System Authoriser, as well as the
creation of the End User(s) by System Administrator and System Authoriser, the Customer
authorises the Users to act for and on behalf of the Customer for the purposes set forth under or
pursuant to these Terms and Conditions. The Customer shall ensure that all User(s) comply with
all of the Customer’s obligation under these Term and Conditions and the Customer shall be liable
for and bound by the User(s)’ failure, neglect or omission to comply with such obligations.
Service Availability
4.3 HLBB/HLISB makes no warranty that HLB Business Internet Banking (or any part thereof) provided
under the Website will be available at the time stated on the Website. HLBB/HLISB reserves the
right to vary the availability of HLB Business Internet Banking and any banking services at any time
with prior notice to the Customer.
4.4 In the event of any failure or disruption in HLB Business Internet Banking (or any part thereof), the
Customer may still carry out the e-payment transaction / Trade Services by way of other service
delivery channel (E.g.: Branch submission) offered by HLBB/HLISB.
4.5 In the event that Customer elects to proceed with any transactions or issue any instructions via
HLBB/HLISB’s other service delivery channel(s) pursuant to Clause 4.4 above, the Customer shall
ensure that it has taken reasonable steps to ensure that proper security and procedures are
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maintained at the Customer’s end as to the generation and transmission of any information
relating to such Instruction or transaction, and if such information is transmitted to HLBB/HLISB
electronically, to ensure that such information is not tampered with and is encrypted prior to
forwarding it to HLBB/HLISB. HLBB/HLISB shall not be liable for any unauthorised changes or
tampering of the information supplied in relation to any such transaction or instruction, unless it
is due to HLBB/HLISB’s gross negligence or wilful default.
Uploading of Files to HLB Business Internet Banking
4.6 The Customer shall take all proper and reasonable steps to ensure that any files or documents
supplied to HLBB/HLISB through HLB Business Internet Banking is not damaged, defective and/or
will not malfunction. HLBB/HLISB shall reserve the right to reject any Transaction if the relevant
files or documents supplied through HLB Business Internet Banking does not conform to the
standard format as specified by HLBB/HLISB from time to time. The Customer shall ensure that
any files or documents supplied to HLBB/HLISB through HLB Business Internet Banking is not
tampered with and is encrypted and that HLBB/HLISB shall not be liable for any unauthorised
changes or tampering of the information supplied through such files or documents unless it is due
to HLBB/HLISB’s gross negligence or wilful default.
Limits on Accounts’ Balance
4.7 HLBB/HLISB shall be entitled to require the Customer to maintain a minimum balance in any
Account as may be informed by HLBB/HLISB to the Customer from time to time and at any one
time, failing which HLBB/HLISB may impose a penalty, suspend or terminate the Customer’s
utilisation of HLB Business Internet Banking by providing prior notice the Customer.
Sufficiency of Funds
4.8 The Customer shall ensure that sufficient funds are maintained in the Account(s) or Related
Business Account(s) (where applicable) for the purpose of making payments through the use of
HLB Business Internet Banking at least one (1) Business Day before the date of submission of the
Instruction(s). HLBB/HLISB shall not be obliged to carry out any Instruction unless and until the
Account(s) or the Related Business Account(s) (where applicable) have sufficient funds to transfer
or pay the relevant amount(s) and applicable service fees or charges, commissions and other
charges. HLBB/HLISB shall not be liable for any loss, damages, claims and costs suffered or incurred
by the Customer nor any of its third party recipients for not being able to proceed and carry out
any Instruction received due to insufficient funds in the Account(s) or Related Business Account(s)
(where applicable).
4.9 The Customer acknowledges that it shall be responsible to ensure that all its Account(s) and
Related Business Account(s) (where applicable) have sufficient funds for payments to be effected.
Limits
4.10 HLBB/HLISB may from time to time, impose or revise limits on the transfer, payment and
number of Transactions executed at any one time, by giving prior written notice to the Customer.
Suspension or Termination
4.11 The Customer’s access to HLB Business Internet Banking may be subject to suspension or
termination in accordance with Clause 12.2.
5. Instructions
Effect of Instructions
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5.1 All Instruction(s) shall be effected using the Security Codes in accordance with HLBB/HLISB
procedures and any applicable laws from time to time. HLBB/HLISB may treat such Instructions
received by HLBB/HLISB as instructions properly authorised by the Customer, and HLBB/HLISB
shall be under no obligation to check the identity of the persons giving or appearing to be giving
them, and HLBB / HLISB will not be responsible in ensuring the authenticity of the Instruction,
authenticity of the person giving the Instructions or for unauthorised Instructions given.
5.2 Any Instructions transmitted or received by HLBB / HLISB after the relevant cut-off processing time
on any Business Day will be deemed as received at the start of the next Business Day and will be
processed then. The cut-off time for processing Instructions is stated on the Website (under
‘Payment Services’) and transactions may be varied by HLBB / HLISB from time to time after giving
prior notice to the Customer.
5.3 The Bank shall not be responsible for any losses or damages arising from not carrying out the
Instruction received by the Bank from the Customer whether relating to the Account(s) and
Related Business Account(s) (where applicable) if the Instructions are transmitted or received
after the cut-off time.
5.4 The Customer acknowledges that certain Instructions may only be processed after the Customer
has submitted and HLBB/HLISB has received the original signed copy of the Instructions, and
Customer shall be notified of such requirement.
5.5 The Customer is responsible for the authenticity, accuracy and completeness of the Instructions
submitted and ensuring that the Instructions are transmitted correctly. HLBB/HLISB shall not be
liable for any loss or delay where the Instructions are inaccurate and incomplete.
5.6 HLBB/HLISB is under no obligation to process any Instruction (or part thereof) received and may
reject or delay processing of the same without any liability whatsoever accruing to HLBB/HLISB,
including without limitation in the following events:
(a) if the Instructions are inconsistent with HLBB’s/HLISB’s policies or rules and regulations in
force at the time the Customer’s Instructions were received by HLBB/HLISB;
(b) the Instructions appear to HLBB/HLISB to be unauthentic, garbled or corrupted;
(c) the Account(s) or Related Business Account(s) to which the Instructions relates is frozen,
closed or suspended or the Customer has entered an incomplete, incorrect or invalid
account number;
(d) HLBB/HLISB knows or has reason to believe that a breach of security, fraud, criminal act,
offence or violation of any law or regulation has been or will be committed; and/or
(e) The Customer has not complied with these Terms and Conditions, any or all of HLBB/HLISB
procedures or requirements set forth or any notice sent by HLBB/HLISB to the Customer
from time to time.
5.7 All Instruction(s) effected (whether authorised or not) through the User(s) of the Security Codes
shall be binding on the Customer once transmitted to HLBB/HLISB, notwithstanding any error,
fraud or forgery and the Customer agrees that HLBB/HLISB shall not be liable for any loss or
damage (including without limitation loss of funds) suffered or incurred by the Customer, its
subsidiary(ies) and/or any third party as a result of any or all such Instructions effected.
Instruction Processing
5.8 HLBB/HLISB will process the Instruction and any information relating to such Instruction
submitted based on the Payment Date.
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5.9 Instructions will also be transmitted to PayNet or other clearing houses on the relevant cut-off
time.
5.10 The Customer shall ensure that all information provided in the Instruction are accurate and
correct. The crediting to beneficiary’s account will be based on the information provided and
the applicable validation rules of respective clearing houses.
Instructions Cancellation and Variation
5.11 No cancellation of Instruction is allowed for Employees’ Provident Fund (“EPF”) contribution
payment and Social Security Organisation (“SOCSO”) contribution payment and HLBB/HLISB
shall not be held liable to any claim arising from affecting the Customer’s Instructions in relation
to the aforementioned payments.
5.12 It is the Customer’s responsibility to deal directly with EPF and SOCSO for any cancellation or
refund required for the EPF contribution payment and SOCSO contribution payment submitted
through the HLB Business Internet Banking Service.
5.13 Where the Customer requires any amendment, cancellation or revocation on an Instructions for
payment other than EPF Contribution payments and SOCSO contribution payments, the
Customer shall provide to HLBB/HLISB a subsequent Instruction or an authorisation letter to
amend, cancel or revoke such Instruction.
5.14 If the Customer is required by HLBB/HLISB to amend or vary any information in an Instruction,
any such amendment or variation is to be forwarded to HLBB/HLISB before the relevant
processing cut off time.
5.15 HLBB/HLISB may, with prior notice to the Customer, impose a instruction-change fee (which sum
shall be decided by HLBB/HLISB in its absolute discretion) for any amendment, revocation,
cancellation or variation of Instructions as contemplated in this Clause 5 herein and the
Customer hereby agrees to pay HLBB/HLISB the same and further authorises HLBB/HLISB to
debit such fee from the relevant Account(s) or Related Business Account(s) (where applicable).
5.16 Notwithstanding anything in these Terms and Conditions and for the avoidance of doubt,
HLBB/HLISB shall act on the cancellation, amendment or revocation of Instruction on a
commercially reasonable basis, provided such Instruction has not been initiated or processed.
(a) HLBB/HLISB shall not be held liable for any loss, damage and/or costs incurred or suffered
by the Customer due to HLBB/HLISB being unable to cancel, revoke, vary or amend the
Instruction, unless it is due to HLBB/HLISB’s gross negligence and wilful default.
(b) Once an Instruction for payment is confirmed (except for future dated Instructions), it will
be deemed irrevocable and the Customer will not be able to cancel, stop or perform any
changes to the Instruction. If the Customer requires any amendment, cancellation or
revocation of an Instruction for payment, it will be acted upon by the Bank on a best effort
basis that is commercially reasonable.
Discrepancies
5.17 The Customer shall be responsible for regularly checking and carefully monitoring the balances
of their Accounts or Related Business Account(s) (where applicable) each time prior to and after
issuing any Instructions to HLBB/HLISB. The Customer shall immediately inform HLBB/HLISB of
any inaccuracy or irregularity in any of their Accounts or Related Business Account(s).
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5.18 The Customer hereby agrees that unless HLBB/HLISB is notified of any discrepancies by the
Business Day immediately following the issuance of an Instruction, the entries in the report and
status of inquiry of Transactions shall be deemed correct, final and conclusive and binding on all
parties as evidence of a Transactions effected by the Customer.
5.19 HLBB/HLISB shall not be liable to the Customer for any loss and damage suffered by the
Customer arising from or in connection with the Customer’s failure or delay to notify HLBB
/HLISB of any discrepancies in accordance with Clause 5.18 above.
Notification to HLBB/HLISB
5.20 It shall be the Customer’s responsibility to notify HLBB/HLISB immediately:
(a) Upon receipt of incomplete, garbled or inaccurate data or information from HLBB/HLISB of
any and all Instructions, Transactions or other use under HLB Business Internet Banking; or
(b) Upon becoming aware, or where the Customer suspects or has any reason to believe that
any Instruction(s) sent by the Customer has not been received by HLBB/HLISB or is
unauthentic, incorrect, incomplete or inaccurate including without limitation any
mistaken, fraudulent or unauthorised payments from or to the Account(s) and/or Related
Business Account(s).
5.21 Without limiting the generality of the foregoing, HLBB/HLISB shall not be liable for any loss or
damage (including without limitation loss of funds) suffered or incurred by the Customer, its
subsidiary(ies) and/or any third party as a result of the following:-
(a) any unauthorised Instructions or Transactions effected using the Security Codes;
(b) HLBB/HLISB refusal to act upon any Instruction(s) given to HLBB/HLISB pursuant to Clause
5.5 above;
(c) HLBB/HLISB effecting Instruction(s) in accordance with Clause 5.1; and/or
(d) the Customer’s non-observance of these Terms and Conditions.
6. Service Fees, Commissions and Charges
6.1 The Customer hereby agrees that HLBB/HLISB shall be entitled to impose and the Customer agrees
to pay, service fees or charges, commissions and other charges for:
(a) subscription to HLB Business Internet Banking by the Customer;
(b) the reissuance of Security Device at the request of the Customer; and
(c) the services conducted through HLB Business Internet Banking by the Customer.
6.2 The general fees and charges payable for the HLB Business Internet Banking Services are available
at the Website under ‘Fees and Charges’, which can be amended from time to time, at
HLBB/HLSIB’s discretion.
6.3 The Customer will be given thirty (30) calendar days’ prior notice of the revisions. These revisions
shall take effect from the date stated in the notice provided. The continued use of HLB Business
Internet Banking by the Customer after such notification shall be deemed as receipt and
acceptance of and agreement to such revisions.
6.4 For the purposes of collecting such fees, commissions and charges, the Customer hereby
authorises HLBB/HLISB to debit the Account(s) designated by the Customer in the relevant HLB
Business Internet Banking application form. The Customer understands that any suspension
and/or termination by HLBB/HLISB of HLB Business Internet Banking at any time does not entitle
the Customer to any refund of any such fees, commissions and charges.
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7. Government Taxes and/or statutory/regulatory imposed charges, fees etc.
7.1 The service fees, commissions, charges and/or all other monies to be paid by the Customer to
HLBB/HLISB under these Terms and Conditions, including any amount representing
reimbursements to be paid by the Customer to HLBB/HLISB is exclusive of any Tax, and shall be
paid without any set-off, restriction or condition and without any deduction for or on account of
any counterclaim or any deduction or withholding.
7.2 In the event the Customer is required by law to make any deduction or withholding from the
services fees, commissions, charges and/or all other monies payable to HLBB/HLISB under these
Terms and Conditions in respect of any Tax or otherwise, the sum payable by the Customer in
respect of which the deduction or withholding is required shall be increased so that the net
handling fee and/or the net amount of monies received by HLBB/HLISB is equal to that which
HLBB/HLISB would otherwise have received had no deduction or withholding been required or
made.
7.3 The Customer shall in addition to the service fees, commissions, charges and/or all other monies
payable, pay to HLBB/HLISB all applicable Tax at the relevant prevailing rate and/or such amount
as is determined by HLBB/HLISB to cover any Tax payments/liabilities/obligations in connection
therewith, without any set-off, restriction or condition and without any deduction for or on
account of any counterclaim or any deduction or withholding, apart from any Taxes which may be
required under any laws to be paid by the Customer directly to any Appropriate Authority, which
the Customer shall remit directly to the Appropriate Authority.
7.4 If at any time an adjustment is made or required to be made between HLBB/HLISB and the relevant
taxing authority on account of any amount paid as Tax as a consequence of any supply made or
deemed to be made or other matter in connection with these Terms and Conditions by
HLBB/HLISB, a corresponding adjustment may at HLBB/HLISB’s discretion be made as between
HLBB/HLISB and the Customer and in such event, any payment necessary to give effect to the
adjustment shall be made.
7.5 All Tax as shall be payable by the Customer to HLBB/HLISB as herein provided shall be paid at such
times and in such manner as shall be requested by HLBB/HLISB.
7.6 The Customer hereby agrees to do all things reasonably requested by HLBB/HLISB to assist
HLBB/HLISB in complying with its obligations under any applicable legislation under which any Tax
is imposed. In the event a new Tax is introduced and such Tax is required to be charged on the
transaction contemplated in these Terms and Condition, the Customer agrees to provide its fullest
cooperation to HLBB/HLISB in assisting HLBB/HLISB in complying with its obligations under the
relevant laws.
7.7 For the avoidance of doubt, the parties agree that any sum payable or amount to be used in the
calculation of a sum payable expressed elsewhere in these Terms and Conditions has been
determined without regard to and does not include amounts to be added on under this clause on
account of Tax.
8. Equipment, Software and Connectivity
8.1 The Customer is solely responsible:
(a) to ensure that the computer terminal, Mobile Device(s) or any other electronic devices used
by the Customer to access HLB Business Internet Banking, as well as the related software,
operating systems and hardware meet the minimum requirements specified by HLBB/HLISB
from time to time; and
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(b) for the installation, maintenance and security of the Customer’s computer terminal, Mobile
Device(s) or any other electronic devices accessing HLB Business Internet, related software
(including the internet browser software) and hardware used to access HLB Business Internet
Banking.
8.2 HLBB/HLISB shall not be responsible for any loss, damage or expense incurred by the Customer or
any third party from any delay, failure, disruption, malfunction or intrusion as a result of Clause
8.1 above.
8.3 The Customer understands that access to HLBB/HLISB's Website and HLB Business Internet
Banking through a Network Service Provider and/or Mobile Network Service Provider will be
subject to the terms and conditions and fees and charges of the Network Service Provider and/or
Mobile Network Service Provider for which the Customer shall be solely liable.
8.4 HLBB/HLISB does not warrant the security and confidentiality of the Instructions and other
information transmitted through the Network Service Provider and/or Mobile Network Service
Provider or any equivalent system in any jurisdiction via HLB Business Internet Banking and
HLBB/HLISB shall not be liable for any unauthorised access, theft of information or any loss or
damage arising therefore. In addition thereto, the Customer accepts and agrees that HLBB/HLISB
shall not be liable for any electronic, mechanical, data failure or corruption, computer viruses,
bugs or related problems that may be attributable to services provided by any relevant Network
Service Provider and/or Mobile Network Service Provider.
9. Intellectual Property Rights
9.1 The Customer hereby agrees that all intellectual property rights (including trademarks, copyright,
patent and design rights) shall at all times be owned exclusively by HLBB/HLISB or the relevant
third party vendor, advertiser, affiliate or any other third person, where applicable.
9.2 The Customer shall not reproduce, copy, transmit, publish, perform, broadcast, adapt, store,
distribute, disseminate, communicate, display, modify, edit, alter, hyper link or use in whole or in
part in any manner whatsoever, the intellectual property rights belonging to HLBB/HLISB or of
HLBB/HLISB’s related companies or such other relevant third party, without HLBB/HLISB’s prior
express written consent or that of the relevant third party vendor, advertiser, affiliate, or other
third person, where applicable, to the same. Further thereto, the Customer shall not insert any
hyperlink in the HLBB/HLISB Website or in HLB Business Internet Banking or “mirror” or frame the
same or any portion thereof on any other Website(s) or servers.
10. Liabilities of the Parties
10.1 By using HLB Business Internet Banking, the Customer acknowledges and agrees: -
(a) to accept all the inherent risks associated with carrying out Transactions through the Internet;
and
(b) that HLBB/HLISB and its Affiliates do not make any representations or warranties, whether
expressed or implied with respect to HLB Business Internet Banking, including but not limited
to merchantability and fitness for a particular purpose. No oral or written information or
advice given by HLBB/HLISB, its Affiliates and their respective personnel, employees or agents
shall create or enhance the scope of this warranty.
10.2 The Customer shall be responsible and liable, without any limit, for the following:-
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(a) any loss or damages suffered for all unauthorised Transactions carried out through the
use of the Security Codes until such time when HLBB/HLISB has received written
notification of the same from the Customer;
(b) any loss or damages suffered and all risk arising, in the event the Customer do not
terminate HLB Business Internet Banking in accordance with the relevant procedures set
out by HLBB/HLISB for the use of HLB Business Internet Banking;
(c) any loss or damage suffered by HLBB/HLISB as a result of the Customer’s breach of or
failure to comply with any of these Terms and Conditions.
10.3
(a) Without prejudice to any other provisions contained herein, HLBB/HLISB shall not be liable to
the Customer or any third party for any loss (whether direct or indirect) of profits or
business or goodwill or for any indirect or consequential loss or damage whatsoever or
howsoever arising from the use of HLB Business Internet Banking and/or the JomPAY Bill
Payment Facility via HLB Business Internet Banking even if HLBB/HLISB has been advised of
the possibility of such loss or damage or claim by any third party.
(b) Subject to the provisions herein, HLBB/HLISB's sole and entire liability to the Customer in
contract, tort, (including negligence or breach of statutory duty) or otherwise arising by reason
of or in connection with these Terms and Conditions or howsoever shall not exceed the
amount of the transaction involved which gave rise to the claim or the direct damages
sustained, whichever is the lower.
(c) Each provision of this Clause 10.3 is to be construed as a separate limitation applying and
surviving even if for any reason one or the other provisions is inapplicable or held
unreasonable in any circumstances and shall remain in force notwithstanding the termination
of the Accounts or HLB Business Internet Banking.
10.4 Without limiting the generality of Clause 10.3, except for damages arising directly from the
wilful default or gross negligence on the part of HLBB/HLISB, HLBB/HLISB shall not be
responsible or liable for any loss, damage or embarrassment incurred or suffered by the
Customer or any third party by reason of or arising from:-
(a) the Customer’s failure to provide accurate, complete and timely Instructions issued to
HLBB/HLISB;
(b) the Customer’s failure to comply with these Terms and Conditions;
(c) the Customer’s inability to perform any of the Transactions due to limits set by HLBB/HLISB
from time to time;
(d) any error, alteration, destruction of the Instructions, data or information to or from
HLBB/HLISB through HLB Business Internet Banking and the Internet; or
(e) any intrusion or attack by any person or party on any hardware, software or system used in
relation to HLB Business Internet Banking or on the Internet, including but not limited to
viruses, Trojan Horses, worms and/or macros or other harmful components or disabling
devices that may suspend, disrupt or disable HLB Business Internet Banking or any part
thereof; or
(f) any restriction or prohibition on the use of HLB Business Internet Banking by any laws or
regulations of any country from where the Customer accesses HLB Business Internet Banking;
or
(g) in the event HLBB/HLISB is unable to perform any operations or to provide any of the services
on HLB Business Internet Banking due to any reason beyond HLBB/HLISB's control including
but not limited to:
i. fire, earthquake, landslides, flood, epidemic, natural catastrophe or act of God;
ii. accident, riots, civil disturbances, industrial dispute, act of public enemy, embargo,
war;
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iii. any failure, delay or disruption to telecommunications, electricity, fuel supply or
services provided by the Network Service Provider or Mobile Network Service
Provider; or
iv. order of any government department, agency, other constituted body or any
regulatory authority.
10.5 In relation to DuitNow Transfer, NAD and/or DuitNow Online Banking/Wallets services,
Customer acknowledge and agree that, unless expressly prohibited by mandatory laws,
HLBB/HLISB, the DuitNow Operator and DuitNow Online Banking/Wallets Owner and
Operator shall not be liable to Customer or any third party for any direct, indirect or
consequential losses, liabilities, costs, damages, claims, actions or proceedings of any kind
whatsoever in respect to any matter of whatsoever nature in connection with the DuitNow
Transfer and/or DuitNow Online Banking/Wallets service offered by HLBB/HLISB arising from:
(a) Customer negligence, misconduct or breach of any of these terms and conditions;
(b) Any erroneous and or mistaken transfer of funds by Customer, including any transfer
of funds to the wrong DuitNow ID, wrong recipient or wrong third party;
(c) The suspension, termination or discontinuance of the DuitNow Transfer and/or
DuitNow Online Banking/Wallets Service;
(d) Customer did not maintain sufficient funds or has exceeded daily transfer limit for
DuitNow Online Banking/Wallets transaction;
(e) Any DuitNow Online Banking/Wallets instruction given or purported to be given by
the Customer.
11. The Customer’s Undertaking
11.1 The Customer undertakes to reimburse and pay to HLBB/HLISB upon HLBB/HLISB’s written
demand all claims, demands, actions, proceedings, loss and expenses (including legal costs as
between solicitor and own client) and all other liabilities of whatsoever nature or description
which may be made taken incurred or suffered by HLBB/HLISB in connection with or arising
out of the Customer’s act or omission in the Customer’s use of HLB Business Internet Banking
or the acceptance of any Instructions given by the Customer or breach by the Customer of any
of these Terms and Conditions, including the Customer’s failure to protect the Security Codes
or failure to use HLB Business Internet Banking in accordance with the security rules
prescribed by HLBB/HLISB including installing appropriate firewalls, anti-virus and anti-
spyware.
The Customer shall reimburse and pay to HLBB/HLISB, NAD Operator, DuitNow Operator and
DuitNow Online Banking/Wallets Owner and Operator on HLBB/HLISB, NAD Operator,
DuitNow Operator and DuitNow Online Banking/Wallets Owner and Operator’s demand any
loss or damage suffered by HLBB/HLISB, NAD Operator, DuitNow Operator and/or DuitNow
Online Banking/Wallets Owner and Operator due to any claim, demand, or action brought
against HLBB/HLISB, NAD Operator, DuitNow Operator and/or DuitNow Online
Banking/Wallets Owner and Operator resulting from the Customer’s negligent and/or
fraudulent act.
11.2 This Clause 11 shall survive the termination of the Customer’s use of and access to HLB
Business Internet Banking.
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12. Suspension or Termination
12.1 HLBB/HLISB may, in its absolute discretion at any time and with prior notice, suspend or
terminate the Customer’s access to HLB Business Internet Banking or any part thereof or
invalidate any or all of the Security Codes and to refuse the replacement of the Security
Devices.
12.2 Without prejudice to Clause 12.1 above, HLBB / HLISB reserves the right to take any steps it
deems fit including the right to temporarily suspend the Customer’s access to HLB Business
Banking or any part thereof or invalidate any or all of the Security Devices and/or Security
Codes until further verification if HLBB/HLISB detects potential unauthorised access, or if
HLBB/HLISB is notified as such pursuant to Clause 3.3. HLBB / HLISB will inform the Customer
of such suspension or invalidation as soon as practicable, subject to legal and/or regulatory
restrictions. The Customer and the User may be issued with a new Security Device and Security
Codes after HLBB/HLISB has received and verified the Customer’s written request to do so. All
costs and charges incurred by HLBB/HLISB in re-issuing any Security Device shall be borne by
the Customer if the suspension is caused by an action or omission of the Customer, and may,
as HLBB/HLISB deems fit, be automatically debited from the Account(s) designated by the
Customer.
12.3 Without limiting the generality of the foregoing, HLBB/HLISB will automatically terminate the
Customer’s right of access to HLB Business Internet Banking should the Customer cease to
maintain any Account(s) with HLBB/HLISB which can be accessed through HLB Business
Internet Banking or where the Account(s) is/are dormant or if the relevant Account(s) is
suspended, restricted or prohibited by HLBB/HLISB or any third party for any reason.
12.4 The Customer may terminate its subscription to HLB Business Internet Banking by giving
HLBB/HLISB thirty (30) days written notice. The termination will not be effective until the
Customer’s notice is duly received and acknowledged by HLBB/HLISB.
12.5 Clauses 9, 10, 11, 12, 13, 14, 16, 17 and 18 shall survive the termination of these Terms and
Conditions.
13. Severability and Waiver
13.1 If any provision of these Terms and Conditions (or part thereof) is determined to be illegal,
invalid, prohibited or unenforceable in any respect under any applicable law, the same shall
be ineffective to the extent of such illegality, invalidity, prohibition or unenforceability without
invalidating in any manner whatsoever the remaining provisions in these Terms and
Conditions.
13.2 HLBB’s/HLISB’s acceptance of any of the Instructions, processing of any of the Instructions
issued or any waiver made in writing by HLBB/HLISB of any of its rights or any indulgence
granted in writing to the Customer pursuant to these Terms and Conditions shall not:
(a) act as consent to the modification of any part of these Terms and Conditions; or
(b) be construed as a consent to or waiver of any subsequent breach of the same or of any
other term contained in these Terms and Conditions or operate to prevent HLBB/HLISB
from enforcing any of its rights under these Terms and Conditions or the rules and
regulations or terms and conditions for the relevant banking services.
13.3 If either HLBB/HLISB or the Customer fails or delays to:
(a) insist in any instance on strict conformance by the other to any of these Terms and
Conditions; or
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(b) act in the event of a breach;
it shall not be construed as a consent to or waiver of any subsequent breach of the same or
of any term contained in these Terms and Conditions. A waiver is only effective if it is made
in writing and approved by the other party.
14. Notices
14.1 Any notices required to be given by HLBB/HLISB to the Customer under these Terms and
Conditions may be given in any of the following manner: -
(a) by electronic mail to the Customer’s last known e-mail address in HLBB’s/HLISB’s records and
such notices shall be deemed to be received by the Customer after 24 hours from
transmission; or
(b) by facsimile to the Customer’s last known facsimile number in HLBB’s/HLISB records and such
notices shall be deemed to have been received by the Customer upon completion of the
transmission as evidenced by a fax confirmation slip ; or
(c) by ordinary post or registered post or courier sent to or left at the Customer’s last address
registered with HLBB/HLISB and shall be deemed received by the Customer after five (5)
Business Days from date of posting if sent by ordinary or registered post and after two (2)
Business Days from date of posting if sent by courier; or
(d) by hand delivery, which shall be deemed received by the Customer upon written
acknowledgement of receipt by an officer or other duly authorised employee or
representative of the Customer; or
(e) by displaying the notices at HLBB’s/HLISB’s branch premises and such notices shall be deemed
effective upon such display; or
(f) by posting the notice or communication at the Website or in the HLB Business Internet Banking
webpage, which (if not otherwise stated in the notice or communication) shall be effective
and deemed received by the Customer on the date of publication of the notice; or
(g) by way of advertisement or general notice in at least one major national newspaper and the
notice shall be deemed to be effective from the date of publication or the date specified in
the notice, as the case may be; or
(h) by Short Messaging System (SMS) to the Customer’s last known mobile phone number in
HLBB/HLISB’s records, and shall be deemed to be received within 24 hours from transmission.
14.1.1 If the Customer wishes to send any notices (except Instructions) to HLBB/HLISB pursuant to
this Terms and Conditions, it may be given in any of the following manner: -
(a) through HLB Business Internet Banking to HLBB/HLISB and such notices shall only be deemed
to have been received by HLBB/HLISB when confirmation of such notices is given by
HLBB/HLISB via electronic mail or in writing; or
(b) by ordinary post or registered post or courier sent to or left at the branch where the
Account(s) is maintained and such notices shall be deemed to have been received by
HLBB/HLISB within seven (7) Business Days from date of posting if sent by registered or
ordinary post or within two (2) Business Days from date of posting if sent by courier.
15. Disclosure
The Customer hereby agrees that:
(a) HLBB’s/HLISB’s rights to the Customer information and disclosure will be in accordance with
HLBB’s/HLISB’s Privacy Notice;
(b) HLBB/HLISB must use the Customer’s transactional information as is necessary to process
payment(s);
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(c) When the Customer uses the JomPAY bill payment facility, DuitNow Transfer Service and/or
DuitNow Online Banking/Wallets Service to make payment(s) or uses NAD Service to register
Customer’s DuitNow ID to NAD Operator or for the purpose of NAD Registration to NAD
Operator, HLBB/HLISB may disclose the Customer’s personal data (if applicable) and/or the
personal data of the Customer’s authorised representatives, to the Scheme Operator, Billers,
Biller Banks, NAD Operator, DuitNow Transfer and/or DuitNow Online Banking/Wallets
participants, and other Payer Banks;
(d) The Customer shall notify HLBB/HLISB if any of the Customer’s and/or the Customer’s
Authorised Persons’ personal information is inaccurate, or if there are any changes to such
personal information, and the Customer consents that the updated personal information is
disclosed to all participants in the JomPAY bill payment facility, DuitNow Transfer Service, NAD
Service and/or DuitNow Online Banking/Wallets Service for the purpose of Clause 15(c) above;
and
(e) That if the Customer’s personal data and/or the personal data of the Customer’s Authorised
Persons is not disclosed to the parties specified in Clauses 15 (c) and (d) above, it will not be
possible to process the Customer’s requested payment(s) or use the JomPAY bill payment
facility, DuitNow Transfer Service, NAD Service and/or DuitNow Online Banking/Wallets
Service.
For the purposes of disclosure as contemplated in this Clause 15, the Customer hereby represents and
warrants on a continuing basis that the Customer has obtained the consent of its authorised
representatives for the processing of their personal data in the manner contemplated herein.
16. Reconstruction of HLBB/HLISB
These Terms and Conditions shall continue to be valid and binding for all purposes whatsoever
notwithstanding any change by amalgamation, reconstruction or otherwise which may be made in the
constitution of HLBB/HLISB or by any company by which the business of HLBB/HLISB may for the time
being be carried on and shall be available to the company carrying on the business for the time being
and the Customer agrees that no such changes shall affect the obligations and liabilities created
hereunder in relation to any Transaction whatsoever, whether past, present or future.
17. Governing Law and Jurisdiction
17.1 These Terms and Conditions shall be governed by and construed in accordance with the laws
of Malaysia and the Customer hereby agree to submit to the non-exclusive jurisdiction of the
courts of Malaysia. HLBB/HLISB may at its sole discretion elect to submit to and the service of
any legal process may be effected in courts of such other competent jurisdiction.
17.2 The use of HLB Business Internet Banking is subject to the following:
(a) the prevailing requirements on international and domestic transactions prescribed by the
Financial Services Act 2013, which is currently the Foreign Exchange Notices (“FEN”)
issued by Bank Negara Malaysia. The FEN is available at Bank Negara Malaysia’s website
at https://www.bnm.gov.my;
(b) any fiscal or exchange control requirements in force for the time being in the country
where the Transaction is effected or requested; and
(c) the laws and regulations of Malaysia as well as the country where the Transaction is
effected or requested.
18. Enquiries & Dispute Resolution
18.1 Enquiries, disputes, complaints, report of exposure or theft of any of the Security Devices or
for assistance in relation to HLB Business Internet Banking are to be directed to:-
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Client Services
Transaction Banking
Business & Corporate Banking
Level 10, Menara Hong Leong
No 6 Jalan Damanlela, Bukit Damansara
50490 Kuala Lumpur, Malaysia.
Telephone No: 603 7661 7777
Fax No: 03 – 2081 8934
Email Address: c[email protected]om.my
18.2 In the event the Customer wishes to report an unauthorised Transaction effected on the
Customer’s Account, the Customer is required to provide HLBB/HLISB with the following
information in relation to the disputed Transaction in order for HLBB/HLISB to investigate the
matter further:
(a) the Customer’s name;
(b) details of the Account affected by the disputed Transaction;
(c) date of the disputed Transaction;
(d) amount of the disputed Transaction; and
(e) the reason(s) why the Customer believes that the Transaction is unauthorised or is a
disputed transaction.
19. Security Obligations
19.1 HLBB/HLISB shall not be responsible for any loss (including consequential loss), damage or
liability whatsoever suffered and/or incurred by the Customer in the event that:-
(a) the Customer has acted fraudulently;
(b) the Customer has failed to carry out the following obligations:-
i. to safeguard the Customer’s sensitive personal banking information such as the
Customer’s Security Codes, by disclosing or allowing such information to be disclosed,
verbally or in writing to a third party;
ii. to take responsible preventive steps to update and protect the Customer’s personal
computer(s), smart phone, tablet and other electronic devices to ensure that they are
Malware/virus free;
iii. to take responsible steps to ensure that the User have the authority to access and use
the functionality of the HLB Business Internet Banking, the Customer changes the
Password, check the Customer’s banking information and balances periodically and to
keep sensitive banking information, Security Codes and Security Devices secure at all
times;
iv. to report a breach or a suspected compromise of security as soon as possible
regardless of the Customer’s location after becoming aware of the breach or loss,
either verbally or in writing to HLBB/HLISB (as set out in Clause 18.1 herein) or any of
HLBB’s/HLISB’s branches;
v. to furnish HLBB/HLISB with an official Malaysian police report as soon as possible after
reporting the breach of security to HLBB/HLISB; and/or
vi. to provide HLBB/HLISB with all the information required in relation to a disputed
Transaction and as set out in Clause 18.2 herein.
19.2 HLBB/HLISB reserves the right to institute legal action and/or any other proceedings
HLBB/HLISB deems necessary including lodging such reports as appropriate or necessary with
the relevant regulatory authorities, against Customers who delay, obstruct and/or withhold
vital information from HLBB/HLISB, making or attempting to make false claims in respect of
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any transaction, publish false claims on traditional or social media, and/or lodge false police
reports with respect to any transaction.
20. Anti-Bribery, Anti-Corruption and Whistleblowing Undertakings
20.1 The Customer hereby acknowledges that HLBB/HLISB practices a zero-tolerance position
towards any form of bribery and corruption in line with its ABC Policy.
20.2 The Customer hereby acknowledge and undertake as follows:
(a) that it has read and understood the ABC Policy;
(b) that it shall, and shall cause its Authorised Persons or agents, to comply with the ABC Policy
and Anti-Bribery Laws; and
(c) to notify HLBB/HLISB of any non-compliance or attempted non-compliance with the ABC
Policy and/or Anti-Bribery Laws by any employee of HLBG or persons associated with HLBG by
reporting the same through the HLBB/HLISB Whistleblowing Policy.
21. Miscellaneous
21.1 HLBB/HLISB reserves the right at all times to vary, modify, delete or add to these Terms and
Conditions by giving the Customer prior notice which shall be effective upon the date specified
by HLBB/HLISB in such notice. In the event the Customer is not agreeable to such variation,
modification, deletion or addition to these Terms and Conditions, the Customer may
terminate its subscription to HLB Business Internet in accordance with Clause 12.3 and
immediately discontinue all access of HLB Business Internet. The Customer’s continued access
and/or use of the relevant HLB Business Internet Banking Service shall be deemed as the
Customer’s agreement and binding acceptance of the same.
21.2 The Customer acknowledges and agrees that HLBB/HLISB may subcontract to third parties
(including HLBB/HLISB’s subsidiaries or related companies), the provision of HLB Business
Internet Banking (or any part thereof) and any matters relating thereto. HLBB/HLISB will
remain responsible for the obligations performed by any of its subcontractors to the same
extent as if such obligations were performed by HLBB/HLISB’s employees. The Customer
agrees that all its Instructions, covenants, representations, warranties, obligations, consents,
acknowledgements, authorisation and agreements made under and pursuant to these Terms
and Conditions shall remain effective, valid and binding on the Customer notwithstanding that
HLBB/HLISB’s subcontractor provides HLB Business Internet Banking (or any part thereof) on
behalf of HLBB/HLISB.
22. JomPAY Bill Payment Facility
HLBB/HLISB is a registered Participant under the Scheme. In the event HLBB/HLISB ceases or is no
longer a Participant Bank, HLBB/HLISB shall notify the Customer through HLBB’s/HLISB’s website or in
any other manner as HLBB/HLISB deems fit.
The following terms and conditions will apply when the Customer uses the JomPAY services via HLB
Business Internet Banking to make payments and purchases to Participating Billers within Malaysia
which are registered under the Scheme. For the purposes of this Clause 22, the term “Customer” shall
mean Billers, Payers and other clients of a Participant.
22.1 Payments
22.1.1 The following information must be provided to HLBB/HLISB by the Customer when making
payment via the JomPAY Bill Payment Facility:
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(a) Biller Code;
(b) Ref-1;
(c) Ref-2 (if stated in Payer’s Bill) (optional);
(d) Contact Number (optional);
(e) Payment Date;
(f) Amount; and
(g) Account from which payment is to be debited.
22.1.2 HLBB/HLISB will then debit the account specified by the Customer with the amount of the
Payment Instruction to the Participating Biller.
22.1.3 The Customer hereby acknowledges that HLBB/HLISB is not obliged to effect a payment if the
Customer does not give HLBB/HLISB all information required or if any of the information given
is inaccurate.
22.1.4 HLBB/HLISB will not accept orders to stop Payment Instructions once the Customer has
instructed HLBB/HLISB to make the Payment Instructions except when:
(a) HLBB/HLISB has reasonably concluded that the Payment Instructions were fraudulent or
unauthorised; or
(b) The Payment Instructions are future dated payments that HLBB/HLISB have not transmitted
to IBG.
22.1.5 HLBB/HLISB will process all Payment Instructions in accordance with the following timelines:
(a) Payment made before 17:00 on a Business Day will be processed within the same day.
(b) Payment made after 17:00 on a Business Day will be processed the next Business Day.
(c) Payment made on a public holiday or on a non-Business Day or after the relevant payment
cut-off time on a Business Day will be processed the next Business Day.
22.1.6 The Customer should notify HLBB/HLISB immediately if the Customer becomes aware that the
Customer has have made a mistake (except for underpayment) when instructing HLBB/HLISB
to make a payment, OR if the Customer did not authorise a payment that has been made from
the Customer’s account. Any recovery of funds for such payments shall be made in accordance
with the terms set out in Clause 22.3 herein.
22.1.7 In the event of an underpayment, the Customer can make another Payment for the difference
in the said amounts.
22.1.8 HLBB / HLISB will notify you of the status of the JomPAY Payment Instructions including the
reasons of rejected or failed “Payer-not-present” Payment Instructions. However, the
Customer have the option not to receive these notifications upon request.
22.1.9 For avoidance of doubt, no refunds will be made through JomPAY for disputes that the
Customer may have with the Biller in relation to any goods or services provided by the Biller,
whether in respect of fitness for purpose or quality of the goods and services and the
Customer is to resolve all such disputes or complaints with the Biller directly.
22.2 Payment Cut-Off Time
22.2.1 If the Customer gives Payment Instructions to a Biller before the Payment Cut-Off Time for the
Business Day, the Biller is deemed to have received payment on the same Business Day.
However, the payment may take longer to be credited to a Biller if the Payer gives Payment
Instructions after the Payment Cut-Off Time or on a day which is not a Business Day, in which
event the Biller is deemed to have received Payment on the next Business Day.
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22.2.2 The Payment Cut-Off Time shall be made available to the Customer at HLBB’s website at
www.hlb.com.my and HLISB’s website at www.hlisb.com.my.
22.3 Recovery of Funds and Liability for Payments
22.3.1 HLBB/HLISB will rectify Mistaken Payment Instructions made by the Customer according to
these Terms and Conditions provided the following conditions are satisfied:
(a) the Customer immediately informs HLBB/HLISB that the Customer becomes aware of any
delays or mistakes in processing Payment(s); and
(b) HLBB/HLISB is satisfied that a Mistaken Payment Instruction has occurred.
22.3.2 Subject to Clause 22.3.1, HLBB/HLISB will attempt to rectify any such matters in relation to
Mistaken Payment Instructions made by the Customer, in the way described in this clause:
(a) for misdirected payments, duplicated payments or incorrect Biller Code or incorrect RRN,
HLBB/HLISB shall submit a request to recover funds to the Biller Bank that received the
erroneous funds;
(b) upon HLBB/HLISB’s satisfaction that the error for incorrect amount payment is caused by the
Biller, HLBB/HLISB shall carry out a Reversal to the Customer’s account and submit a request
to recover funds to the Biller Bank of the Biller for the error;
(c) for payment that is not completed or failed at HLBB/HLISB’s end, HLBB/HLISB shall credit back
the amount of the failed payment upon HLBB/HLISB’s satisfaction that the Payment
Instruction failed and was not duly processed at HLBB/HLISB’s end;
(d) for payment that is not completed or failed at the Scheme Operator’s end or the Biller Bank’s
end, HLBB/HLISB shall credit back the amount of the failed payment into the Customer’s
account before initiating a recovery of funds request.
22.3.3 Any request for recovery of funds made on the Customer’s behalf for Mistaken Payments
mentioned in Clause 22.3.2 or Erroneous Payments shall be processed in accordance with
Clause 22.4 herein. Subject to Clause 22.4, HLBB/HLISB will work with the Affected Participant
to request and recover the funds on the Customer’s behalf.
22.3.4 All enquiries or complaints raised by the Customer regarding Mistaken Payment Instruction
shall be resolved no later than fourteen (14) Business Days. All enquiries and complaints
received after 5 pm on a Business Day would be deemed received at the start of the next
Business Day.
22.3.5 HLBB/HLISB is entitled to debit the Customer’s account (for recovery of funds), in the event
HLBB/HLISB did not debit the Customer’s account after Payment Instruction has been properly
and successfully executed.
22.3.6 Subject to Clause 22.4 herein (for requests of funds made by Payer Bank), HLBB/HLISB is
entitled to debit the Customer’s account for funds credited into the Customer’s account due
to the following payments made by persons other than the Customer:
(a) Mistaken Payment Instructions;
(b) Erroneous Payment Instruction;
(c) Unauthorised Payment Instruction; and
(d) Fraudulent Payment Instruction.
22.4 Erroneous Payment Instruction/Mistaken Payment Instruction
22.4.1 The Customer may request for recovery of funds that were incorrectly transferred to an
Affected Bank Customer who is a non-Biller in the following manner:
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(a) Recovery of funds wrongly credited to an Affected Bank Customer who is not a Biller, of which
request is received within twenty-one (21) Business Days from date of Erroneous Payment
Instruction/Mistaken Payment Instruction, HLBB/HLISB shall proceed with the recovery of
funds and remit the funds into the Customer’s account within one (1) Business Day, if the
following conditions are met:
i. The Affected Participant is fully satisfied that funds were erroneously credited to the
Affected Bank Customer’s account;
ii. There is sufficient balance in the affected account; and
iii. There is no evidence that the Affected Bank Customer is entitled to the funds in question.
(b) Recovery of funds wrongly credited to an Affected Bank Customer who is not a Biller, of which
request is received between twenty-two (22) Business Days and seven (7) months from date
of Erroneous Payment Instruction/Mistaken Payment Instruction, HLBB/HLISB shall proceed
with the recovery of funds and remit the funds into the Customer’s account within fifteen (15)
Business Days, if the following conditions are met:
i. The Affected Participant is fully satisfied that funds were erroneously credited to the
Affected Bank Customer’s account;
ii. There is sufficient balance in the Affected Bank Customer’s account; and
iii. There is no evidence that the Affected Bank Customer is entitled to the funds in question.
(c) Recovery of funds wrongly credited to an Affected Bank Customer who is not a Biller, of which
request is received after seven (7) months from date of Erroneous Payment
Instruction/Mistaken Payment Instruction, HLBB/HLISB shall proceed with the recovery of
funds and remit the funds into the Customer’s account within fifteen (15) Business Days, if the
following conditions are met:
i. The Affected Participant is fully satisfied that funds were erroneously credited to the
Affected Bank Customer’s account; and
ii. There is no evidence that the Affected Bank Customer is entitled to the funds in question;
and
iii. The Affected Bank Customer has given its consent for HLBB/HLISB to debit his account.
22.4.2 The Customer may request for recovery of funds that were incorrectly transferred to an
Affected Bank Customer who is a Biller in the following manner:
(a) Subject to Clause 22.4.3 (b), if the request is received within twenty-one (21) Business Days
from date of Erroneous Payment Instruction/Mistaken Payment Instruction, HLBB/HLISB shall
proceed with the recovery of funds and remit the funds into the Customer’s account within
one (1) Business Day:
i. If the Affected Participant is fully satisfied that funds were erroneously credited to the
Affected Biller;
ii. The funds have been credited to the Affected Biller’s account;
iii. The Affected Biller has not acted on RTN;
iv. The RTN has not been delivered to the Affected Biller;
v. There is sufficient balance in the Affected Biller’s account to cover the recovery amount;
and
vi. The Affected Participant shall give written notification to the Affected Biller before
debiting its account.
(b) If the funds have not been credited to the Affected Biller’s account and that the Affected Biller
has acted on RTN (has delivered goods or has provided services), the funds may not be fully
recovered.
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(c) Recovery of funds wrongly credited to an Affected Bank Customer who is a Biller, of which
request is received between twenty-two (22) Business Days and seven (7) months from date
of Erroneous Payment Instruction/Mistaken Payment Instruction, the recovery of funds shall
be processed in accordance with Clause 22.4.1 (b) herein.
(d) Recovery of funds wrongly credited to an Affected Bank Customer who is a Biller, of which
request is received after seven (7) months from date of Erroneous Payment
Instruction/Mistaken Payment Instruction; the recovery of funds shall be processed in
accordance with Clause 22.4.1 (c) herein.
22.4.3 Notwithstanding the aforesaid, if the funds for Erroneous Payment Instruction or Mistaken
Payment Instruction cannot be recovered or fully recovered due to insufficient balance in the
Affected Bank’s Customer’s account, it will be deemed an Unrecoverable Loss. For avoidance
of doubt the party who is responsible for the error, caused the error, causing the incomplete
or failed Payment is liable for the Unrecoverable Loss.
22.4.4 The Customer acknowledges that the receipt by a Biller of a Mistaken Payment Instruction or
Erroneous Payment Instruction does not or will not constitute under any circumstances part
or whole satisfaction of any underlying debt owed between the Customer and that Biller.
22.5 Unauthorised Payment Instruction and Fraudulent Payment Instruction
22.5.1 HLBB/HLISB shall upon receiving a report from the Customer, alleging that an Unauthorised
Payment Instruction was made, or upon becoming aware of any Unauthorised Payment
Instruction originating from HLBB/HLISB, remit the funds into the Customer account within
one (1) Business Day from date of receipt from the Biller, if the following conditions are met:
(a) HLBB/HLISB shall conduct an investigation and determine within fourteen (14) Business Days,
if the Unauthorised Payment Instruction did occur;
(b) If HLBB/HLISB is satisfied that the Unauthorised Payment Instruction did indeed occurr,
HLBB/HLISB shall initiate a Reversal process whereby all debits posted to the Customer’s
Account arising from the Unauthorised Payment Instruction would be reversed; and
(c) The Biller Bank has not applied some or all the funds in question for the benefit of the
Beneficiary of Fraud.
22.5.2 For Fraudulent Payment Instruction, HLBB/HLISB shall upon receiving report from the
Customer alleging that a Fraudulent Payment Instruction was made, or becoming aware of
any Fraudulent Payment Instruction originating from HLBB/HLISB, remit the funds into the
Customer’s account within one (1) Business Day from date of receipt from the Biller, if the
following conditions are met:
(a) HLBB/HLISB shall conduct an investigation and determine within fourteen (14) Business Days,
if the Fraudulent Payment Instruction did occur;
(b) If HLBB/HLISB is satisfied that the Fraudulent Payment Instruction occurred or fourteen (14)
Business Days have lapsed, HLBB/HLISB shall initiate a Reversal process whereby all debits
posted to the Customer’s Account arising from the Fraudulent Payment Instruction would be
reversed; and
(c) The Biller Bank has not applied some or all the funds in question for the benefit of the
Beneficiary of Fraud.
22.5.3 Notwithstanding the aforesaid, if the funds for any Unauthorised Payment Instruction or
Fraudulent Payment Instruction cannot be recovered or fully recovered, it will be deemed an
Unrecoverable Loss.
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22.5.4 The Customer shall reimburse and pay to HLBB/HLISB upon HLBB/HLISB’s written demand any
loss or damage suffered due to any claim, demand or action brought against HLBB/HLISB
arising directly or indirectly from negligent and fraudulent acts performed by the Customer.
22.6 Payment Queries
22.6.1 HLBB/HLISB shall, in good faith, attempt to settle all payment queries or disputes with the
Customer arising in connection with the JomPAY Bill Payment Facility amicably by mutual
agreement.
22.6.2 In the case of a dispute or conflict, the Customer is entitled to seek recourse via the industry
mediation and arbitration bodies such as the Financial Ombudsman Bureau.
22.6.3 The Customer also has the right to lodge a complaint with the Scheme Operator if there are
allegations of HLBB/HLISB’s non-compliance to the JomPAY Scheme Rules. However, the
Scheme Operator’s review of such complaints shall be confined to:
(a) Determination whether there has been non-compliance;
(b) Stipulating remedies for Participants to correct or address the non-compliances; and
(c) Determination if penalties are applicable for the non-compliance.
22.6.4 All decisions rendered by the Scheme Operator in response to complaints from the Customer
shall be binding on HLBB/HLISB.
22.7 Suspension
22.7.1 HLBB/HLISB may suspend the Customer’s right to use the Scheme at any time in the
circumstances specified in Clause 12 of these Terms and Conditions.
22.8 Biller Cannot Process Payment
22.8.1 If HLBB/HLISB is informed that payment by the Customer cannot be processed by a Biller,
HLBB/HLISB will:
(a) inform the Customer about this; and
(b) credit the Customer’s Account with the amount of the payment.
22.9 Account Records
22.9.1 The Customer must check the Customer’s Account and immediately report to HLBB/HLISB as
soon as the Customer is aware of any errors or of any payment(s) that the Customer did not
authorise or the Customer thinks were made by someone else without the Customer’s
permission.
22.10 Inconsistency
22.10.1 In the event of any inconsistency between the Terms and Conditions and this Clause 22, the
provisions of this Clause 22 shall prevail to the extent of such inconsistency.
23. DuitNow Transfer and NAD Services
DuitNow Transfer and NAD are an industry wide initiative governed and operated by DuitNow
Operator. HLBB/HLISB is a registered participant under the DuitNow Transfer and NAD Services. In the
event HLBB/HLISB ceases or is no longer a participant Bank, HLBB/HLISB shall notify the Customer
through HLBB’s/HLISB’s website or in any other manner as HLBB/HLISB deems fit.
23.1 DuitNow Transfer Services
23.1.1 If Customer wishes to send funds via DuitNow Transfer, Customer must first initiate a payment
by entering the recipient’s DuitNow ID in HLB Business Internet Banking.
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23.1.2 HLBB/HLISB will perform a NAD Name Enquiry to verify the recipient’s registration of its
DuitNow ID in NAD and if the recipient is registered, HLB Business Internet Banking will display
the name of such registered DuitNow ID recipient.
23.1.3 Customer is responsible for the correct entry of the recipient’s DuitNow ID and ensures that
the recipient’s name displayed is the intended recipient of the funds prior to confirming the
DuitNow Transfer Transaction.
23.1.4 HLBB/HLISB will notify Customer on the status of each successful, failed or rejected DuitNow
Transfer Transaction via any of HLBB/HLISB’s available communication channels chosen by
Customer.
23.1.5 Customer acknowledges and agree that HLBB/HLISB shall have no duty to and shall not be
required to take any steps to verify or seek any other confirmation from any party as to
whether such registered recipient is the intended recipient, and HLBB/HLISB shall not be liable
for transferring the funds to such registered recipient even if such person is not the intended
recipient.
23.1.6 Pursuant to Clause 23.1.3 above, Customer agrees that once a DuitNow Transfer Transaction
has been confirmed, it will be deemed irrevocable and Customer will not be able to cancel,
stop or perform any changes to that DuitNow Transfer Transaction.
23.2 Multiple NAD Name Enquiry
23.2.1 Customer are advised not to submit multiple NAD Name Enquiry without a confirmed
DuitNow Transfer Transaction.
23.2.2 Without prejudice to any of HLBB/HLISB rights and remedies, HLBB/HLISB reserve the right to
terminate or suspend Customer access to and use of the DuitNow Transfer service where
HLBB/HLISB consider in HLBB/HLISB’s sole discretion that inappropriate, fraudulent or
suspicious use is being made of the DuitNow Transfer service, such as where multiple NAD
Name Enquiry are submitted without a confirmed DuitNow Transfer Transaction. Customer
are advised to contact HLBB/HLISB should Customer encounter any issues relating to the
foregoing.
23.3 Recovery of Funds
23.3.1 HLBB/HLISB will rectify mistaken payment Instruction made by the Customer according to
these terms and conditions provided the following conditions are satisfied:
(a) the Customer immediately informs HLBB/HLISB that the Customer becomes aware of any
delays or mistakes in processing payment(s); and
(b) HLBB/HLISB is satisfied that a mistaken payment Instruction has occurred.
23.3.2 Subject to Clause 23.3.1, HLBB/HLISB will attempt to rectify any such matters in relation to
mistaken payment Instruction made by the Customer, in the way described in this clause:
(a) for misdirected payments, duplicated payments or incorrect DuitNow ID, HLBB/HLISB shall
submit a request to recover funds from the recipient’s Bank that received the erroneous
funds;
(b) for payment that is not completed or failed at HLBB/HLISB’s end, HLBB/HLISB shall credit back
the amount of the failed payment upon HLBB/HLISB’s satisfaction that the payment
Instruction failed and was not duly processed at HLBB/HLISB’s end;
(c) for payment that is not completed or failed at the NAD Operator’s end or the recipient Bank’s
end, HLBB/HLISB shall credit back the amount of the failed payment into the Customer’s
account before initiating a recovery of funds request.
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23.3.3 Any request for recovery of funds made on the Customer’s behalf for mistaken payment
Instruction mentioned in Clause 23.3.2 or erroneous payment Instructions shall be processed
in accordance with Clause 23.4 herein. Subject to Clause 23.4, HLBB/HLISB will work with the
affected party to request and recover the funds on the Customer’s behalf.
23.3.4 All enquiries or complaints raised by the Customer regarding mistaken payment Instruction
shall be resolved no later than fourteen (14) Business Days. All enquiries and complaints
received after 4 pm on a Business Day would be deemed received before 12 pm of the next
Business Day.
23.3.5 HLBB/HLISB is entitled to debit the Customer’s account (for recovery of funds), in the event
HLBB/HLISB did not debit the Customer’s account after payment Instruction has been properly
and successfully executed.
23.3.6 Subject to Clause 23.4 herein (for requests of funds made by payer Bank), HLBB/HLISB is
entitled to debit the Customer’s account for funds credited into the Customer’s account due
to the following payments made by persons other than the Customer:
(a) mistaken payment Instruction;
(b) erroneous payment Instruction;
(c) unauthorised payment Instruction; and
(d) fraudulent payment Instruction.
23.4 Erroneous Payment Instruction/Mistaken Payment Instruction
23.4.1 Customer may request for recovery of the funds within ten (10) Business Days from the date
the erroneous payment Instructionwas made and HLBB/HLISB will work with the affected
party in the following manner:-
(a) If the recipient’s Bank is fully satisfied that funds were erroneously credited to the
recipient’s account, HLBB/HLISB will return the said funds to Customer within five (5)
Business Days;
(b) If the recipient’s Bank is not fully satisfied that funds were erroneously credited to the
recipient’s account, the recipient’s Bank shall contact and obtain consent of the recipient.
(i) If the consent is obtained from recipient, recipient’s Bank shall debit recipient’s account
and remit the funds to HLBB/HLISB and HLBB/HLISB will return the said funds to
Customer within five (5) Business Days.
(ii) If consent is not obtained from recipient, recipient’s Bank shall request the recipient to
substantiate ownership of the funds within ten (10) Business Days. If recipient failed to
substantiate ownership within ten (10) Business Days, recipient’s Bank shall debit
recipient’s account and remit the funds to HLBB/HLISB and HLBB/HLISB will return the
said funds to Customer within five (5) Business Days.
23.4.2 Customer may request for recovery of funds within eleven (11) Business Days and seven (7)
months from the date the erroneous payment report was made to HLBB/HLISB and
HLBB/HLISB will work with the affected recipient’s Bank in the following manner:-
(a) The recipient’s Bank is fully satisfied that funds were erroneously credited to the recipient’s
account, the recipient’s Bank shall notify the recipient in writing regarding the fund
recovery request due to mistaken/erroneous payment and would recover the fund through
debiting the recipient’s account within ten (10) Business Days of the notification unless the
recipient provide reasonable evidence to substantiate ownership of the funds in question;
(b) If recipient’s Bank is not fully satisfied that funds were erroneously credited to the
recipient’s account, the recipient’s Bank shall contact and obtain the consent of the
recipient before debiting the recipient’s account to recover the funds.
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(c) If consent is given by recipient or recipient is unable to substantiate ownership within ten
(10) Business Days, the funds would be debited from recipient’s account and the recipient’s
Bank shall remit the funds back to HLBB/HLISB and HLBB/HLISB will return the said funds
to Customer within five (5) Business Days, for a total permissible funds recovery period of
fifteen (15) Business Days.
23.4.3 Customer may requests to recover funds after (7) months from the date the erroneous
payment Instruction was made to HLBB/HLISB and HLBB/HLISB will work with the affected
recipient’s Bank in the following manner:-:
(a) The recipient’s Bank is fully satisfied that funds were erroneously credited to the affected
recipient;
(b) The recipient’s shall obtain from the recipient the decision whether to grant consent within
ten (10) Business Days; and
(c) Once consent is obtained, the recipient’s Bank shall debit the recipient’s account and remit
the funds back to Customer within one (1) Business Day.
23.5 Unauthorised Payment Instruction or Fraudulent Payment Instruction
23.5.1 For DuitNow Transfer Transactions which were not authorised by Customer or which are
fraudulent, HLBB/HLISB will, upon receiving a report from Customer alleging that an
unauthorised payment Instruction or fraudulent payment Instruction was made, remit the
funds back to Customer provided the following conditions are met:
(a) HLBB/HLISB shall conduct an investigation and determine within fourteen (14) calendar
days, if the unauthorised or fraudulent payment Instruction did occur;
(b) If HLBB/HLISB are satisfied that the unauthorised payment Instruction or Fraudulent
payment Instruction did indeed occur and was not caused by Customer, HLBB/HLISB shall
initiate a reversal process whereby all debit posted to Customer account arising from the
unauthorised or fraudulent payment Instruction would be reversed.
23.6 The NAD Service
23.6.1 The NAD service allows Customer to link an Account that Customer have with HLBB/HLISB to
Customer’s Business Registration Number (known as, “DuitNow ID”).
23.6.2 By linking Customer’s DuitNow ID to Customer Account, Customer have the option of
receiving incoming funds via DuitNow or any other payment services that address payments
using Customer’s DuitNow ID.
23.6.3 When Customer registers Customer’s DuitNow ID in NAD, Customer will also provide
HLBB/HLISB with Customer’s Common ID which will be linked to Customer Account with
Customer’s registered DuitNow ID. Customer’s Common ID will be used by other NAD
participating banks for the purpose of identifying Customer, as part of facilitating the DuitNow
service.
23.6.4 Customer may link more than one of Customer’s DuitNow ID to the same Account. However,
Customer may not link a particular DuitNow ID to multiple Accounts.
23.7 Modification, Suspension and Deregistration of Customer’s DuitNow ID
23.7.1 Customer may update or change Customer’s DuitNow ID that is linked to Customer Account
via the channels made available to Customer via HLB Business Internet Banking.
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23.7.2 Customer understand and agree that Customer’s DuitNow ID that is linked to Customer
Account may be suspended or deregistered by Customer or by HLBB/HLISB, due to the
following circumstances:
(a) Customer wish to transfer Customer’s existing DuitNow ID to another Account in
another bank;
(b) Customer have changed/updated your DuitNow ID;
(c) Customer have closed Customer’s Account that is linked to Customer’s DuitNow ID;
(d) Customer’s Account have been dormant for six (6) months of inactivity; or
(e) Upon investigation, HLBB/HLISB find out that Customer or Customer’s DuitNow ID is
potentially involved in any fraudulent activity(s).
23.7.3 Customer will receive a confirmation of modification or suspension or de-registration from
HLBB/HLISB as soon as the modification or suspension or de-registration is confirmed in
accordance with Clause 14. The Customer represents and warrants that:
(a) the Customer is duly authorised to execute and deliver the documents and agreements
required under these Terms and Conditions on behalf of the Customer, to register the
Customer for the services contemplated hereunder and that it has taken all necessary
action to authorise such execution, delivery and performance; and
(b) the execution, delivery and performance of these terms and conditions hereunder does
not and will not violate any law, ordinance, charter, by-law and rule applicable to it or
any agreement by which it is bound or by which any of its assets are affected.
24. DuitNow Online Banking/Wallets Service
DuitNow Online Banking/ Wallets is an industry-wide initiative owned and operated by Payments
Network Malaysia Sdn Bhd. HLBB/HLISB is a registered participant under this service. In the event
HLBB/HLISB ceases or is no longer a participant Bank, HLBB/HLISB shall notify the Customer
through HLBB’s/HLISB’s website or in any other manner as HLBB/HLISB deems fit.
24.1 DuitNow Online Banking/Wallets Services
24.1.1 If Customer wishes to initiate payment instruction via DuitNow Online Banking/Wallets at the
Merchant’s website and/ or application, Customer must select an account to be used by
HLBB/HLISB for deduction of funds for payment made via DuitNow Online Banking/Wallets.
24.1.2 Customer is responsible for ensuring that the correct Transaction amount is displayed on
Customer’s website or mobile application screen prior to confirming the Transaction. The
Transaction amount displayed via the Merchant shall be deemed correct by HLBB/ HLISB upon
the Customer confirming the Transaction. HLBB/ HLISB is under no obligation whatsoever to
verify that the amount paid matches with the Merchant’s amount.
24.1.3 HLBB/HLISB will notify the Customer on the status of each successful, failed or rejected
DuitNow Online Banking/Wallets Transaction via any of the HLBB/HLISB available
communication channels chosen by the Customer.
24.1.4 The Customer acknowledges and agrees that HLBB/HLISB shall have no duty to and shall not
be required to take any steps to verify or seek any other confirmation from any party as to
whether such Merchant is the intended party to receive the funds, and HLBB/HLISB shall not
be liable for transferring the funds to such Merchant or recipient even if such person is not
the intended party.
24.1.5 Pursuant to Clause 24.1.4 above, the Customer agrees that once a DuitNow Online Banking/
Wallets Transaction has been confirmed, it will be deemed irrevocable and Customer will not
be able to cancel, stop or perform any changes to that Transaction.
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24.2 Recovery of Funds
24.2.1 The Customer has rights in relation to the investigation and recovery of erroneous or mistaken
DuitNow Online Banking/Wallets Transactions made from Customer’s account as stated in
Clause 24.3 and unauthorised or fraudulent DuitNow Online Banking/Wallets Transactions
made from Customer’s account as stated in Clause 24.4.
24.3 Erroneous or Mistaken DuitNow Online Banking/Wallets Transaction
24.3.1 The Customer may request for recovery of the funds within ten (10) Business Days from the
date the erroneous Transaction was made and HLBB/HLISB will work with the affected
Merchant’s Bank to return the said funds to Customer within seven (7) Business Days provided
the following conditions are met:-
(a) The funds were actually wrongly credited into the affected Merchant’s account;
(b) If the funds have been wrongly credited, whether the balances in the affected Merchant’s
account is sufficient to cover the funds recovery amount;
(i) If the balances are sufficient to cover the recovery amount, the erroneously credited funds
may be recoverable; and
(ii) If the balances are not sufficient to cover the recovery amount, the erroneously credited
funds may not be fully recoverable.
24.3.2 The Customer may request for recovery of funds within eleven (11) Business Days and seven
(7) months from the date the erroneous Transaction was made to HLBB/HLISB and
HLBB/HLISB will work with the affected Merchant’s Bank in the following manner:-
(a) The affected Merchant’s Bank is fully satisfied that funds were erroneously credited to the
affected Merchant; and
(b) The affected Merchant has been notified regarding the funds recovery requests whereby the
erroneously credited funds would be recovered through debiting the affected Merchant’s
account within ten (10) Business Days of the notifications unless the affected Merchant
provides reasonable evidences that the affected Merchant is entitled to the funds in question.
After fifteen (15) Business Days, if the affected Merchant fails to establish the entitlement to
the funds, the affected Merchant’s Bank shall debit the affected Merchant’s account and remit
the funds back to the Customer.
24.3.3 The Customer may request for recovery of funds after seven (7) months from the date of the
erroneous Transaction was made to HLBB/HLISB if:
(a) The affected Merchant’s bank is fully satisfied that funds were erroneously credited to the
affected Merchant;
(b) The affected Merchant’s bank shall obtain from the affected Merchant its decision whether
to grant consent within ten (10) Business Days; and
(c) Once consent is obtained, the affected Merchant’s bank shall debit the Merchant’s account
and remit the funds back to Customer within one (1) Business Day.
24.4 Unauthorised or Fraudulent DuitNow Online Banking/Wallets Transaction
24.4.1 For DuitNow Online Banking/Wallets Transactions which were not authorised by Customer or
which are fraudulent, HLBB/HLISB will, upon receiving a report from Customer alleging that
an unauthorised payment or fraudulent payment was made under DuitNow Online
Banking/Wallets, remit the funds back to Customer provided the following conditions are met:
(a) HLBB/HLISB shall conduct an investigation and determine within fourteen (14) calendar days,
if the unauthorised payment Instruction or fraudulent payment Instruction did occur; and
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(b) If HLBB/HLISB is satisfied that the unauthorised payment or fraudulent Transaction did indeed
occur and was not caused by the Customer, HLBB/HLISB shall initiate a reversal process
whereby all debit(s) posted to the Customer’s Account arising from the unauthorised
Transaction or fraudulent Transaction would be reversed.
(B) SPECIFIC TERMS AND CONDITIONS OF HLB CONNECTFIRST SERVICES
The following sets out certain terms, conditions and definitions that will apply to services that may be
made available in HLB ConnectFirst (“Specific Terms and Conditions”). In the event of any conflict or
inconsistency between the Specific Terms and Conditions and the General Terms and Conditions,
these Specific Terms and Conditions shall prevail.
25 Hong Leong e-Fixed Deposit (FD) Account
The Hong Leong e-Fixed Deposit Account (“eFD Account”) is a fixed deposit account which allows
account creation, placements and withdrawals to be performed online via HLB ConnectFirst.
25.1 ELIGIBILITY
25.1.1 The eFD Account is only available for Customers who are holders of a Hong Leong
Conventional Current or Savings Account (“CASA”) and who have registered for HLB
ConnectFirst. The eFD Account is not available for joint Saving Accounts.
25.2 ACCOUNT OPENING
25.2.1 An eFD Account can only be created by a Customer via HLB ConnectFirst and the eFD Account
will be linked to the CASA from which the first online fixed deposit (“eFD”) placement is made
(“Designated CASA”).
25.2.2 Multiple placements of eFD into the eFD Account are allowed. However, placements can only
be made via HLB ConnectFirst between 7.00 a.m. and 11.00 p.m., seven (7) days a week, or
during such hours as stipulated by HLBB at HLB ConnectFirst.
25.2.3 Placement of each eFD must be made for a period of between one (1) month to twelve (12)
months or any other period and at such rate of interest to be determined by HLBB from time
to time.
25.2.4 The Customer shall place a minimum deposit of Ringgit Malaysia Five Thousand (RM5,000) for
eFD with tenure of one (1) month or Ringgit Malaysia Five Hundred (RM500) for eFD with
tenures of two (2) months or more for each eFD placement.
25.2.5 The maximum deposit amount per transaction is Ringgit Malaysia Two Hundred and Fifty
Thousand (RM250,000). For placement via FPX transfer, the maximum deposit amount per
transaction is Ringgit Malaysia Thirty Thousand (RM30,000) or the Customer’s individual
Internet Banking limit maintained with the relevant bank, whichever is lower.
25.2.6 The effective date of the eFD will be immediate i.e. on the same day if successfully placed via
HLB ConnectFirst.
25.2.7 No fixed deposit receipt will be issued. Upon successful placement, the HLB ConnectFirst
Transaction Receipt will be generated which will contain details of the placement transaction.
Transactions in the eFD Account will also be reflected in the statement of account for the
Designated CASA.
25.2.8 All eFDs shall NOT be used as collateral to secure any credit facility granted to the Customer
or any other third (3rd) party.
25.2.9 Interest earned on the eFD shall either be credited into the source CASA and / or Designated
CASA on a monthly basis or added to the eFD principal sum upon maturity, as selected by the
Customer upon placement of the eFD.
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25.2.10 In the event the eFD is uplifted prior to maturity, the following rules of Association of Banks
in Malaysia (ABM)shall apply:
(a) No interest shall be paid on any eFD uplifted before the completion of three (3) months.
(b) In the event the eFD is uplifted in the fourth (4th) month onwards, Customers will receive
fifty per cent (50%) of the contracted eFD interest earned for the completed months on the
principal amount only.
25.2.11 Any paid interest shall, pursuant to Clause 24.4.10 above, be refunded to HLBB/HLISB, and the
Customer agrees that such amount may be deducted from the principal eFD amount upon
withdrawal.
25.3 RENEWAL
25.3.1 Customers are to select the renewal instruction for each eFD upon making the placement via
HLB ConnectFirst.
25.3.2 If the ‘Auto Renewal’ column is selected as ‘Yes’, the placement will be automatically renewed
for the same tenure at the prevailing interest rate on the renewal date of the matured eFD.
25.3.3 If the ‘Auto Renewal’ column is selected as ‘No’, the placement will not be automatically
renewed and will be automatically credited into the Designated CASA on the maturity date of
the relevant eFD.
26 Hong Leong Online Fixed Deposit-i
The Hong Leong Online Fixed Deposit-i (eFD-i), is an Islamic fixed or term deposit account which allows
account creation, placements and withdrawals to be performed online via HLB ConnectFirst.
26.1 Definitions & Interpretations
In this Clause 26, the following terms and expression shall have the meaning designated to them unless
the context requires otherwise:-
“Agent” means HLISB which shall be appointed by the Customer(s) to do such acts on behalf of the
Customer(s) under the Shariah principle of Wakalah Mutlaqah or Unrestricted Agency which is not
restricted to any conditions and not confined to certain circumstances or time limit in accordance to
the terms herein.
“Commodity” means goods or assets that are approved by the Shariah Committee of HLISB. The type
of commodity to be purchased at HLISB’s sole discretion as the agent for the Customer(s) on the
agreed price.
“Commodity Trading Platform” is a multi-commodity trading platform such as Bursa Suq Al Sila’ or
any other commodity trading platform, which, facilitates Tawarruq transactions and has been
approved by the Shariah Committee of HLISB.
“Murabahah” refers to a sale and purchase of a Commodity where the acquisition/purchase cost and
the mark-up are disclosed to the purchaser.
“Selling Price” means the sum payable by HLISB to acquire the Commodity from the Customer(s)
which shall comprise of the price of the Commodity and the profit.
“Supplier” means the commodity trader and/or supplier registered with the relevant exchange and/or
any other parties acceptable to HLISB.
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“Tawarruq” or also known as “Murabahah (via Tawarruq arrangement)” refers to an arrangement
in accordance to HLISB’s deposit procedure where HLISB acting as an Agent shall purchase the
Commodity on behalf of the Customer(s) upon receipt of monies from the Customer(s) for the price
of the Commodity which is deemed as deposit in HLISB’s account. HLISB shall thereafter as an agent
to the Customer(s) shall sell the commodity to the HLISB on Murabahah (cost plus) basis at the Selling
Price which shall be paid to the Customer(s) upon maturity of the eFD-i. HLISB shall thereafter sell the
Commodity to a third party on cash basis.
“Trading Day(s)” means the day(s) where the Commodity Murabahah transactions are executed from
Mondays to Fridays except for the gazetted public holidays in Kuala Lumpur.
26.2 Hong Leong Fixed Deposit-i (eFD-i) Accounts
26.2.1 This is a fixed or term deposit account based on the Shariah principle of Murabahah and
Tawarruq which is known as Commodity Murabahah.
26.2.2 Any placement made under the eFD-i shall be in Ringgit Malaysia (“RM”) and the minimum
sum prescribed for the corresponding tenure as may be determined by HLISB from time to
time with prior notice.
26.2.3 The placement of deposit shall be effective on the date the placement is done.
26.2.4 A deposit slip detailing deposit placement can be downloaded from HLB ConnectFirst and
saved as a PDF file upon placement completion.
26.2.5 The Customer(s) must examine all entries in the statement of account and to immediately
report to HLISB any error found therein. If Customer(s) does not, within fourteen (14) days
after the receipt of statement of account, object to any entry therein the Customer(s) shall be
deemed to have accepted the entries made up to the date of the last entry in the statement
of account as correct and discharge HLISB from all liabilities.
26.2.6 The tenure of deposit shall range from one (1) to sixty (60) months as may be elected by the
Customer(s) and determined by HLISB from time to time with prior notice. The acceptance
and / or renewal of such placements, tenure(s) and rate(s) quoted for eFD-i is entirely at the
absolute discretion of HLISB. Where any cheque(s) is deposited for a placement, and where
the placement or renewal advice is issued to the Customer(s) it shall be subject to clearance
of the cheque(s). The eFD-i account may not be assigned, transferred, pledged or charged as
security unless written consent is given by HLISB.
26.2.7 The profit rate for eFD-i shall be determined by HLISB from time to time.
26.2.8 HLISB may at the instruction of the Customer(s) pay the profit from the eFD-i account to the
Customer(s) either on monthly basis or upon maturity of the tenure as the case may be.
26.2.9 HLISB shall pay the Customer(s):
• Profit at maturity for all tenures; and
• For tenure of six (6) months and above, the profit amount to be received by Customer(s) is
equivalent to the profit amount to be distributed for the month.
26.2.10 Commodity Murabahah transactions shall be executed on Trading Days.
26.2.11 If Customer(s) withdraws all or part of the deposits before the maturity date, the Customer(s)
agrees to waive his right to claim the full Selling Price and HLISB is entitled to pay based on
the following:
(a) For tenure of deposits below three (3) completed months, early withdrawal is allowed with
no Profit shall be paid to the Customer(s).
(b) For tenure of deposits three (3) completed months and above, early withdrawal is allowed
with half of the accumulated profit for the completed month(s) shall be paid to the
Customer(s).
26.2.12 HLISB reserves the right to vary the rules specified above at any time or from time to time
with twenty one (21) calendar days prior notice.
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26.2.13 eFD-i allows partial withdrawal subject to a minimum of RM3,000 and in multiples of RM1,000
thereafter or any other amount to be determined by HLISB at any time or from time to time
with twenty one (21) calendar days prior notice.
26.2.14 Request for Delivery of Commodity
(a) Customer(s) have the right to request and take physical possession and delivery of the
Commodity subject to minimum requirements and comply with rules and regulations of the
commodity trading platform provider.
(b) Request for delivery of Commodity can be done at any HLISB or HLBB branches during
normal business hours; and
(c) The delivery arrangement is to be made between the Customer(s) and commodity trading
platform provider at the Customer(s)’ own costs.
26.2.15 The Customer(s) hereby agrees that HLISB’s determination of any amount payable to the
Customer(s) under eFD-i save for manifest error shall be final, conclusive and binding against
the Customer(s). The Customer(s) must examine all entries in the placement advice, renewal
advice and statement of account(s) and to immediately report to HLISB any error found
therein. If the Customer(s) does not, within fourteen (14) days (or such other period specified
by HLISB) after the receipt of the same, object to any entry therein the Customer(s) shall be
deemed to have accepted the entries made in the placement advice, renewal advice and
statement of account as correct and discharge HLISB from all liabilities.
26.2.16 Customer(s) agrees upfront that the tenure for the deposits shall be automatically renewed
for the same tenure on maturity date based on the prevailing rate upon renewal unless
written instructions from the Customer(s) is received by HLISB before maturity date.
Customer(s) may visit HLISB’s website at www.hlisb.com.my to check out the latest prevailing
rate.
26.2.17 For the purpose of Commodity Murabahah Transaction, the Customer(s) has agreed to appoint
HLISB as the Agent for the purchase and sale of the Commodity without the utterance of offer
and acceptance between seller and buyer, following the principle of bay’al-mu’atah (sale by
conduct) in accordance with these Terms and Conditions.
26.2.18 The Customer(s) agrees that HLISB shall act only as the absolute and undisclosed Agent of the
Customer(s) for the Commodity Murabahah transactions. Each sale and purchase contract in
the Commodity Murabahah transaction is binding in nature and shall not be terminated
unilaterally by any of the contracting parties.
26.2.19 HLISB, as the Customer(s)’s Agent shall look after the best interest of the Customer(s) and in
good faith during the placement of the deposit or any renewal thereof, perform transactions
to purchase the Commodity on cash basis (“Purchase Transaction”) through purchase
agreements, certificates and other instruments as fully as the Customer(s) could do
himself/itself and to negotiate with the Supplier on behalf of the Customer(s) in relation
thereto.
26.2.20 The Customer(s) hereby offers to sell the Commodity to HLISB upon constructive possession
of Commodity through its Agent as proven by e-cert (or any other evidence of ownership)
from the Supplier at an agreed Selling Price (cost plus markup) determined upon placement
of deposit.
26.2.21 The Commodity will be sold on an “as is where is” basis without any representation or
warranty in respect thereof and upon issuance of the purchase agreements, certificates and
other instruments; the parties agree to waive the liability of the seller for any defect on the
Commodity before entering into the sale and purchase contract. All risk shall pass to the
purchaser and the seller shall be freed from any liabilities, responsibilities or obligations
relating to the Commodity in any form or manner whatsoever. Any defects or non-delivery or
any disputes whatsoever in relation to the Commodity shall not in any way affect or absolve
the contracting parties obligations or undertakings hereunder.
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26.2.22 HLISB hereby promise to purchase the Commodity from the Customer(s) upon constructive
possession of Commodity through its Agent as proven by e-cert (or any other evidence of
ownership) from the commodity trading platform at an agreed Selling Price (cost plus mark-
up) determined upon placement of deposit.
26.2.23 The Customer(s) agrees to reimburse and pay to HLISB upon HLISB’s written demand:
(a) all actions, claims, demands, liabilities, losses, damages, costs and expenses of whatever
nature sustained, suffered or incurred by HLISB as a result of acting as the Customer(s)’s Agent
in the Commodity Murabahah transactions; or
(b) for any breach of the Customer(s)’s obligations
except for any losses or damages arising directly from a default, omission, negligence or
breach of contract by HLISB.
26.2.24 In the event the Customer(s) is held liable by a court of competent jurisdiction for any damages
notwithstanding the foregoing, the total amount of the Customer’s entire liability shall not
exceed the principal amount of the transaction involved which gave rise to the claim.
26.3 Exceptions for Online Fixed Deposit-i (eFD-i) accounts
26.3.1 The statement will not be sent to Customer(s) as it can be viewable via HLB ConnectFirst.
26.3.2 Details of placement/renewal transaction is viewable on HLB ConnectFirst. No physical
placement/renewal advice will be sent to Customer(s).
26.3.3 The eFD-i placement is not allowed to be pledged as collateral to secure any financing/ credit
facility.
27 Account Inquiry Services
27.1 The following types of services are available in HLB ConnectFirst:
• Obtain Account details, balances and transactions history
• View and request for statement of Accounts and Tawarruq Statement
• Download GST Tax Invoices, Debit and Credit notes
• Download MT940 and MT942 Standard SWIFT statements
28 Cheque Management Services
28.1 The Customer(s) will be able to perform the following through HLB ConnectFirst:
• Inquiry on the status of cheques
• Stop payment of issued cheques
• Perform for request for cheque books
29 Collection Services – Electronic Invoicing Presentment and Payment (“EIPP”)
29.1 The EIPP service available through HLB ConnectFirst facilitates payments for invoices, invoice
presentment as well as matching of invoices and payments.
29.2 The EIPP service may only be available to the Customer subject to the Customer’s agreement
to the following terms and conditions:
(a) Both parties to the commercial transaction (“EIPP Transaction”) for which invoices and
payments are to be made electronically through HLB ConnectFirst must maintain an
Account with HLBB/HLISB for which payments in respect of the EIPP Transaction are to be
made and/or received;
(b) The Customer and its biller/purchaser to a transaction shall be responsible for the creation
and acceptance of the purchaser order and/or invoices in HLB ConnectFirst. HLBB/HLISB
shall not be responsible or liable for any errors, omissions and/or inaccuracies in such
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purchase orders and invoices which may result in a shortfall or excess in payment made
and received between the Customer and its biller/purchaser;
(c) All records of EIPP Transactions shall only be available for viewing/download through HLB
ConnectFirst for such period as determined by HLBB/HLISB from time to time with prior
notice to the Customer from the date of the relevant EIPP Transaction;
(d) All disputes relating to an EIPP Transaction, whether relating to the purchase orders,
invoices and/or goods and services supplied under the EIPP Transaction shall be settled
between the Customer and its biller/purchaser with no recourse to HLBB/HLISB; and
(e) The Customer agrees to comply with HLBB/HLISB’s policies and procedures in relation to
the EIPP service.
30 Trade Services
30.1 All applications to utilise any Trade Services through HLB ConnectFirst are subject to the
approval of HLBB/HLISB and HLBB/HLISB has the absolute discretion to decline any application
without giving any reason.
30.2 These terms and conditions of this clause (i.e. Trade Services) shall be separate, in addition to
and shall not affect any terms and conditions under any letters of offer, product terms, forms,
facilities agreement, security documentation, agreements, indemnities and other relevant
documents.
30.3 The following trade services are available on HLB ConnectFirst:
(a) Trade Inquiry
• The Customer can view trade transaction history, check trade facility limits and utilisation,
download advices, view incoming documents and download trade application forms.
• The Customer must immediately notify HLBB/HLISB should the Customer become aware of
any suspicious or inaccurate information displayed in this inquiry service.
(b) Trade Transaction
• The Customer can submit trade drawdown instructions (“Electronic Instructions”) to
HLBB/HLISB, which includes selecting and/or inputting the correct and accurate information
and uploading the respective trade document(s).
• By using this service, the Customer agrees to the following terms and conditions: -
i. Upon HLBB/HLISB’s receipt of any Electronic Instructions which in good faith it believes
to have emanated from the Customer via the Customer’s Authorised Person,
HLBB/HLISB shall be entitled to treat such Electronic Instructions as fully authorized and
binding upon the Customer.
ii. The Customer’s Authorised Person is/are the User(s) of HLB ConnectFirst who is/are
granted transactional access by HLBB/HLISB or by the Customer’s System Administrator
and System Authoriser. HLBB/HLISB shall not be responsible or liable for accepting and /
or acting on such Electronic Instructions should it be subsequently shown that such
Electronic Instructions did not emanate from the Customer’s Authorised Person.
iii. HLBB/HLISB will only act on Electronic Instructions where a set of complete documents
which are duly signed by the authorised signatories are received and verified by
HLBB/HLISB.
iv. Upon submission of the Electronic Instructions, the Customer undertakes not to submit
the same documents again (physically or electronically) to HLBB/HLISB. However, the
Bank is entitled and reserves the right to demand the physical original documents from
the Customer at any time upon giving notice to the Customer.
v. HLBB/HLISB shall be entitled to treat the Electronic Instructions received without enquiry
on the part of HLBB/HLISB as to the identity and/or authority of the person(s) giving or
purporting to give such instructions.
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vi. Electronic Instructions present various risks including without limitation the risk of error,
breach of security and / or privacy issues, misuse and / or fraudulent activities. The
Customer acknowledges that it is fully aware of and agrees to bear the inherent risks
associated with the use of electronic means to communicate instructions to HLBB/HLISB.
vii. The Customer further understands that it needs to implement adequate security,
control, and / or authorisation measures and systems in its own organisation in respect
of the use of Electronic Instructions.
viii. HLBB/HLISB has the absolute right to reject the Electronic Instructions should
HLBB/HLISB determine at its sole discretion that there are any inconsistencies, errors,
omissions, and / or inaccuracies.
ix. The Customer further acknowledges and agrees that HLBB/HLISB shall not be responsible
or liable for errors, omissions, unauthorised use and / or duplication in respect of any
Electronic Instructions by / on behalf of the Customer and that any misunderstanding,
loss or delay resulting from the use of Electronic Instructions are entirely at the risk of the
Customer.
x. The Customer hereby undertakes to hold HLBB/HLISB free from liability and saved
harmless against or to immediately reimburse HLBB/HLISB in full upon HLBB’s/HLISB’s
demand all or any loss, claims, demands, costs, damages expenses (including legal fees
on solicitor and own client basis) proceedings and all other liabilities which may be
suffered or incurred by HLBB/HLISB as a consequence of HLBB/HLISB accepting and / or
acting on any of the Electronic Instructions.
xi. These terms are in addition to HLBB’s/HLISB’s General Terms and Conditions of Accounts,
HLBB’s/HLISB’s terms and conditions applicable to the relevant trade facility (ies) and/or
Trade Services and the Terms and Conditions for Hong Leong Business Internet Banking.
xii. The Customer undertakes to upload/submit correct, accurate, complete and original
documents for all Electronic Instructions submitted to the Bank and where copies/non
original documents are uploaded/ submitted, they are deemed to have been
authenticated by the authorized signatories.
xiii. The Customer confirms and covenants that no other financing has been or will be
obtained for the transaction/document which is the subject matter of the Electronic
Instructions submitted to the Bank.
30.4 HLBB/HLISB has the absolute right to immediately terminate the Trade Services, at any time
and from time to time, should HLBB/HLISB find fraud or potential fraud of any kind involving
any document uploaded / submitted (including without limitation pertaining to the
genuineness thereof) and / or any transaction made and authorised by the Customer.
30.5 The Customer shall indemnify or immediately reimburse HLBB/HLISB upon HLBB/HLISB’s
written demand any loss or damage suffered by HLBB/HLISB due to any claim, demand or
action brought against HLBB/HLISB arising directly or indirectly from negligent and fraudulent
acts performed by the Customer.
31 Treasury Products and Services
31.1 For Treasury products and services, please note that only the latest information on foreign
currency exchange rates (only major currencies) that are available for exchange at HLBB/HLISB
shall be available for viewing only on HLB ConnectFirst. For more details, please visit any
HLBB/HLISB branch.
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32 Foreign Exchange Transaction
32.1 FX Booking is a function available in HLB Business Internet Banking, which allow Customers who
elected to have access to Foreign Exchange Transactions in HLB Business Internet Banking to
book FX Transaction in respect of their own accounts. The Customer is able to view the latest
indicative FX Rates and FX trade history (for Transactions booked under HLB Business Internet
Booking) with this function.
32.2 This FX Booking feature is available from 8:00 AM to 6:00 PM during Business Days. No FX
Bookings are allowed during weekends and gazetted public holidays in Kuala Lumpur.
32.3 Customers who wish to book an FX Transaction via HLB Business Internet Banking are required
to only do so if there is a firm underlying transaction.
33 FX Rates
33.1 FX Rates and such other rates and information, including but not limited to news and reports on
such rates or information made available under HLB Business Internet Banking, are only
indicative of the actual rates, quotes or information and are subject to change without prior
notice. Without derogating from the above, the Customer is specifically advised that the live
rate may be revised very fast (e.g. after a few seconds).
33.2 The Customer will bear sole responsibility for any and all loss and damage arising from or in
relation to the Customer’s reliance on such news and reports in making decisions to undertake
any FX Bookings through HLB Business Internet Banking.
33.3 The Customer agrees that its authorised users shall be authorised, on their behalf, to book the
desired FX rates (i.e. to enter into FX Transactions) via HLB Business Internet Banking.
33.4 Upon booking of the desired FX Rate (as displayed in HLB Business Internet Banking), the
Customer shall be deemed to have entered into an FX Transaction with HLBB/HLISB, whereby
payment in respect of the firm underlying transaction shall be made by the Customer via a
payment instruction on HLB Business Internet Banking on the same day or on the date selected
at the time of the booking of the FX Transaction.
33.5 Where the Customer has booked the FX Rate (i.e. entered into the FX Transaction) but
HLBB/HLISB does not receive Customer’s payment instruction via HLB Business Internet Banking
on the day agreed for any reason whatsoever, HLBB/HLISB may cancel or reject the booking
and/or terminate the FX Transaction. Upon such cancellation, rejection and/or termination, the
Customer shall be liable for all marked-to-market losses incurred by HLBB/HLISB.
33.6 Where the Customer wishes to reduce the amount of the FX Transaction booked through HLB
Business Internet Banking, they are required to contact HLBB’s/ HLISB’s Global Markets
department/ division who will advise accordingly. Amendments of successful FX Transactions
will be subjected to marked-to-market losses due to fluctuations in the exchange rate, and losses
on these Transactions will be charged to the Customer’s designated Account(s).
33.7 Where the Customer wishes to increase the amount of the FX Transaction booked through HLB
Business Internet Banking, they may do so by booking another FX Transaction via HLB Business
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Internet Banking. Customers may submit a settlement transaction with multiple Transaction
numbers. However, the FX Rate in respect of the new FX Transaction may not be the same as
the previously booked FX Transaction due to fluctuations in the exchange rate.
34 FX Undertaking
34.1 (a) Any conversion from one currency into another made via HLB Business Internet Banking shall
be effected in such manner as the HLBB/HLISB may in its discretion deem fit and at HLBB/HLISB's
then prevailing FX Rate.
(b) Any loss, cost, charge and risk resulting from the conversion of one currency into another in
connection with HLB Business Internet Banking shall be borne solely by the Customer and the
Customer authorises HLBB/HLISB to debit any such loss, cost or charge to any of the Customer’s
accounts (whether linked to HLB Business Internet Banking or not).
34.2 (a) In the event that the Account(s) does not have sufficient funds to pay for any FX Transactions
in full, HLBB/HLISB reserves the right to liquidate any of the Customer’s FX (foreign exchange)
positions and cancel the FX Transaction booked.
(b)The Customer hereby undertakes to pay any and all loss or damage (including but not limited
to foreign exchange loss) and charges (including replacement fees) that may be incurred by any
conversion, FX Transaction, payment instruction and/or howsoever related to FX issues.
35 Liquidity Management Services
35.1 All applications to utilise any Liquidity Management Services through HLB ConnectFirst are
subject to the approval of HLBB/HLISB.
35.2 The terms and conditions of Liquidity Management Services contained herein shall be
separate, in addition to and shall not affect any terms and conditions under any letters of
offer, product terms, forms, facilities agreements, security documentation, agreements,
indemnities and other relevant documents which also apply to the Liquidity Management
Services.
35.3 The Liquidity Management Services will be automatically terminated if:
(a) the Master Account is closed for any reason whatsoever;
(b) a Sub-Account is closed for any reason whatsoever, where such Sub-Account is the only
remaining Sub-Account to which the Liquidity Management Services apply;
(c) the Customer terminates its relationship with HLBB/HLISB; or
(d) it becomes unlawful, no longer feasible and/or practicable (as shall be determined by
HLBB/HLISB in its absolute discretion) for HLBB/HLISB to provide the Liquidity
Management Services due to any change to or in the interpretation of any law,
governmental order, rule, regulation or directive from any regulatory authority affecting
the Liquidity Management Services.
35.4 Definitions and Interpretations
In this Clause 35, the following terms and expressions shall have the meaning designated to
them unless the context requires otherwise:
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“Liquidity Management Service” means the Sweeping Service, the Notional Pooling
Service or such other Service that HLBB/HLISB may
designate in writing as a Liquidity Management
Service;
“Master Account” the concentration account either funds deficits or
receives surplus cash swept from sub-accounts;
“Notional Pooling Participating
Entity”
means any person participating in the same
arrangement set-up for it in relation to the Notional
Pooling Service;
“Notional Pooling Service” shall have the meaning set out in Clause 35.6 (Notional
Pooling);
“Notional Pooling Structure” means a group of Accounts, each a Participating
Account, which is organised in accordance with
parameters and rules for Notional Pooling Service.
“Participant Account” means an Account that is part of, is participating in or
contributing to the group of Accounts that are
affected by the Liquidity Management Service.
Sub-Account
Sweep Transaction
means any account, belonging to the Customer or an
entity within the Customer’s group of companies
which is maintained with HLBB/HLISB and is specified
as a sub-account by the Customer.
means a fund transfer in accordance with Clause
35.5.1.
Sweep Transfer Date means each Business Day on which a Sweep Transfer
is due to occur in accordance with the Sweeping
Services parameters setup.
“Sweeping Participating Entity” means any person participating in the same
arrangement set-up for it in relation to the Sweeping
Service;
“Sweeping Service” shall have the meaning set out in Clause 35.5.
“Sweeping Type” the following Sweeping types on each Participant
Account may be selected by the Customer in the
relevant application form:
(a) Credit trigger
(b) Debit trigger
(c) Percentage
(d) Range Based Target Balancing
(e) Sweep Transfer
(f) Target Balance
(g) Zero Balancing
35.5 Sweeping Service
35.5.1 Subject to and in accordance with the terms of this Clause 35.5 and the terms and conditions
of Liquidity Management Services, HLBB/HLISB may, upon Customer’s request, offer the
Customer the service whereby HLBB/HLISB will on each Sweep Transfer Date effect one or
more Sweep Transactions between the Master Account and a Sub-Account in the Customer’s
name or in the name of an entity within the Customer’s group of companies by transferring:
(a) to the Master Account, all or part of the credit balance on a Sub-Account; or
(b) from the Master Account, sufficient funds to cover all or part of the debit balance
in a Sub-Account,
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so that the credit or debit balance of that Sub-Account in either case is then adjusted
to equal or zero or such other pre-determined target balance in accordance with the
Sweeping Type selected and authorised by the Customer
(the “Sweeping Service”).
35.5.2 HLBB/HLISB will determine the available balance on each Participant Account and pass the
necessary transactions to meet the Sweeping Type for each Participant Account.
35.5.3 The Customer agrees that:
(a) the Sweeping Service shall be limited to Participant Accounts in the same
jurisdiction and same currency;
(b) the Sweeping Service will only be carried out on Business Days;
(c) HLBB/HLISB is hereby authorised to perform all necessary transactions to provide
the Sweeping Services parameters setup for each Participant Account;
(d) the Customer shall be responsible to ensure that sufficient balances or limits are
available in the Participant Accounts to comply with the different Sweeping
Services parameters setup for the Participant Accounts;
(e) the Customer shall responsible for any debit balance, overdraft used or created,
and any fees, commissions or charges related thereto as a result of any Sweeping
instruction;
(f) Sweeping Services between different legal entities may constitute or be
construed to be inter-company loans and will be solely responsible for any
regulatory, tax or reporting implications as a result thereof; and
(g) if HLBB/HLISB suspects or becomes aware of any legal or regulatory action which
may affect any cash or a Participating Account, HLBB/HLISB may suspend the
Sweeping Service until such legal or regulatory action has been resolved to the
satisfaction of HLBB/HLISB.
35.5.4 The Customer may at any time, request HLBB/HLISB to:
(a) add any Account to be a Participant Account, including an account maintained
with HLBB/HLISB by an entity within the Customer’s group of companies;
(b) remove, delete or suspend a Sub-Account or Participant Account by giving
HLBB/HLISB not less than fifteen (15) Business Days’ written notice; and
(c) amend any Sweep Instruction, Sweeping Type or accept additional instructions
relating to the Sweep Instructions and/or Sweeping Type by giving HLBB/HLISB
not less than fifteen (15) Business Days’ written notice.
35.5.5 HLBB/HLISB will not be responsible for any loss or damage that any Sweeping Participating
Entity may suffer or incur if:
(a) the Sweeping Service is used in a way or for a purpose which is not recommended,
authorised or intended by HLBB/HLISB;
(b) the Sweeping Service is used in a way which contravenes any law or regulation in
any relevant jurisdiction; and/or
(c) any failure or delay in effecting a Sweeping Instruction is due to a Sweeping
Participating Entity’s failure or delay in performing its obligations under these
Liquidity Management Services terms and conditions.
35.6 Notional Pooling
35.6.1 Subject to and in accordance with the terms of this Clause 35.6 and the terms and conditions
of Liquidity Management Services, HLBB/HLISB may, at the Customer’s request, offer the
Customer the service whereby HLBB/HLISB transfers and/or consolidates (on a notional basis)
available funds with or without overdraft limits across Participant Accounts in a Notional
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Pooling Structure, without involving the physical transfer of funds, for the purpose of
enhancing or optimising debit or credit interest (“Notional Pooling Service”).
35.6.2 The Customer agrees that:
(a) the Notional Pooling Service shall be limited to Participant Accounts in the same
jurisdiction and same currency;
(b) HLBB/HLISB is not obligated to include any Participant Account in a Notional
Pooling Structure if that Participant Account is overdrawn beyond any agreed
overdraft limit or is otherwise not in compliance with any of HLBB/HLISB’s terms
and conditions governing such Participant Account;
(c) HLBB/HLISB is not obligated to deem any debit or credit transaction on a
Participant Account has been made before such debit or credit has in fact been
successfully completed in the Participant Account;
(d) Credit interest shall only be given by HLBB/HLISB and applied to the relevant
Participant Account where such credit interest has been agreed and approved in
writing by HLBB/HLISB;
(e) Where any credit interest has been agreed and approved by HLBB/HLISB,
HLBB/HLISB reserves the right to modify or remove such credit interest with
written notice to the Customer:
i. If the Customer has failed to meet any required balances and/or any other
commitments to HLBB/HLISB in exchange for such credit interest;
ii. If the Participant Accounts has been modified in any way affecting the
interest calculation; and/or
iii. At any time by giving at least thirty (30) calendar days’ notice to the
Customer,
(f) HLBB/HLISB shall calculate credit interest only on the available balance on each
Participant Account not including any uncleared funds;
(g) if HLBB/HLISB suspects or becomes aware of any legal or regulatory action which
may affect any cash or a Participating Account, HLBB/HLISB may suspend the
Notional Pooling Service until such legal or regulatory action has been resolved to
the satisfaction of HLBB/HLISB.
35.6.3 The Customer may at any time, request HLBB/HLISB to:
(a) add any Account to be a Participant Account including an account maintained with
HLBB/HLISB by an entity within the Customer’s group of companies; and
(b) remove, delete or suspend a Participant Account by giving HLBB/HLISB not less
than thirty (30) calendar days written notice.
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