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| The Customer can find the Bank's disclaimer, privacy policy statement and terms of software use in the Use Statement column on the login page. The Bank recommends that the Customer read all relevant documents carefully before using the service. |
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| 1.1 |
In these terms and conditions, unless the context otherwise requires: |
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| "Bank" means Tai Fung Bank Limited |
| “Account” means the account(s) nominated by the Customer
to the Bank and accepted by the Bank from time to time to have
access to iBanking Services of the Bank provided that the Bank
may limit and vary at its discretion the account(s) in respect
of which iBanking is available. |
| “iBanking” means the service designated iBanking Services
or any part thereof offered by the Bank to the Customer of
the Bank which enable the Customer to have access by means
of internet to a range of banking information and other services
as specified by the Bank from time to time. |
| "Customer" means any Customer of the Bank who has
maintained account(s) with the Bank and signed the Agreement
for iBanking Services and in case of joint account holders,
each individual holder of such account. |
| “Login ID” means the representation code selected by Customer
and accepted by the Bank for the purpose of iBanking. |
| “OTP(One Time Password)” – A unique, dynamic and unpredictable password that is randomly generated and provided by an electronic device TOKEN based on the Customer’s personal identity information. |
| “SMS OTP” – A random numeric code sent by the bank to the mobile phone number previously provided by the customer via SMS message for customer identification purpose. |
| “TOKEN” –An electronic device the Bank provides for an authentication organization to confirm the Customer's identity. |
| "Password" means the personal identification number
assigned by the Bank to the Customer and the number subsequently
re-selected by the Customer. |
| “Terms and Conditions” means these Terms and Conditions and
its subsequent amendments stipulated by the Bank from time
to time. |
| "Business Day" means any day on which banks in
Macau SAR are open for business for the relevant type of transaction. |
| "Transaction" means such type of banking transactions
or services which the Bank may from time to time at its absolute
discretion designate as being accessible by means of iBanking
Service. |
| “Instruction” means instructions regarding the processing
of a Transaction given by Customer to the iBanking Services
through internet communication. |
| “Pre-set instruction” –transaction instructions the Customer provides to the Bank through the "iBanking Services" in advance to execute such transaction. |
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| 1.2 |
The English version of these Terms and Conditions is for reference
only and if there is any conflict between the Chinese and English
versions, the Chinese version shall prevail. |
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| 1.3 |
Headings are inserted in these Terms and Conditions for convenience
of reference only and shall not affect the construction of the provisions
of these Terms and Conditions. |
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| 2.1 |
The Bank has the right to determine and vary from time to time the scope and type of the iBanking services be made available including, but not limited to, |
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expanding, modifying or reducing the iBanking services at any time; |
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prescribing and changing the normal service hours during which the iBanking services is available. |
| 2.2 |
The Bank may, at any time at its absolute discretion without prior notice and without giving any reason, refuse or restrict the use of iBanking services by Customer. The Customer shall have no claim whatsoever against the Bank for such refusal or restriction. |
| 2.3 |
The Customer acknowledges that the use of iBanking services to carry out Transactions is a service provided by the Bank. Unless a Transaction is confirmed being executed by the Bank, the Bank has the sole discretionary power to reject or suspend a Transaction for whatsoever reason. The Customer shall have no claim whatsoever against the Bank and shall use other available means to effect the required Transaction. |
| 2.4 |
The Customer hereby authorizes the Bank to obtain details of his/her credit card account held with BOC Credit Card (International) Ltd. so that the Customer may operate such account through iBanking services. |
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| 3.1 |
In using iBanking services to carry out any Transaction, in addition to these terms and conditions, terms and conditions that govern the relevant type of Accounts and Transactions shall remain applicable in respect of such Transactions. |
| 3.2 |
The Bank may at any time at its absolute discretion, accepts Instructions from the Customer to act as the agent of the Customer to effect other Transactions on behalf of the Customer with other third parties. In such event, the only duty of the Bank is to transmit or communicate the Instructions to the third party and once such Instructions are given, the Bank shall be deemed to have fully discharged its duty. The Bank shall not in any way or under any circumstances or conditions be liable or responsible howsoever, whether in any law or in equity, for the act, default, omission, failure, non-performance, delay, fraud or negligence of such third party (including but not limited to any failure or delay of such third party in executing the Bank’s instruction given on behalf of the Customer). The Customer acknowledges and confirms that such Transaction effected by the Bank as his agent with the third party is subject to the Terms and Conditions applicable to that specific Transaction and for the purpose of effecting such Transaction with the third party the Bank is authorized to disclose necessary information of the Customer to such third party. |
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| 4.1 |
The Customer shall, at his own cost and expense, apply for, install, obtain and maintain suitable equipment to obtain access to iBanking. |
| 4.2 |
The Customer has/shall have registered with such communication service provider and applied such equipment as the Bank may designate. The arrangement between the Customer and such communication service provider is solely the Customer's responsibility. |
| 4.3 |
Before accession to the iBanking services, the Customer is required to register or in such other manner as the Bank may from time to time specify and to indicate his acceptance of all the Terms and Conditions governing the use of the iBanking services. |
| 4.4 |
The Customer is required to quote the Login ID, the Password or/and SMS OTP or/and Token OTP in order to log-on to the iBanking services and give Instructions to the Bank on-line. Instructions in connection with the iBanking services shall not be considered having been received by the Bank unless they are given in such manner as the Bank may prescribe from time to time and until the Bank has actually received them. |
| 4.5 |
The Customer understands that the Bank has the right to deny the Customer's access to multiple devices at the same time with the same login ID for security reasons without further notice. |
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| 5.1 |
The Customer hereby irrevocably authorizes the Bank to debit the Account(s) of the Customer(s) with the Bank the amount of any Card-free Cash Withdrawal, transfer and/or other transactions effected via iBanking services with or without his knowledge or authorization. The Bank assumes no duty to verify the identity or authority of the person giving any such Instruction or the authenticity of such Instruction apart from verifying the Login ID and the Password. |
| 5.2 |
The Bank will transmit a confirmation upon receipt of an Instruction via the iBanking. The Customer is responsible to ensure that the confirmation agrees with the Instruction and shall transmit a re-confirmation within the time limit specified by the Bank from time to time. The Customer acknowledges that it cannot countermand the Instruction after re-confirmation has been received by the Bank. |
| 5.3 |
The Customer can print information the Bank provides on the Customer's completed transactions result or inquire about his/her past transactions from iBanking. |
| 5.4 |
The Customer acknowledges that there may be a time lag in transmission of Instructions, information or communication via the internet and will abide the consequences arising from such time lag. |
| 5.5 |
Instructions would only be accepted and effected for certain particular type of Transactions if such Instructions are given within the time frame, determined by the Bank at its sole discretion, when the Bank accepts Instructions for that particular type of Transactions. |
| 5.6 |
Without prejudice to Clause 5.5 of these Terms and Conditions, notwithstanding that Instructions may be received by the Bank outside the normal banking hours in Macau SAR and be carried out immediately, the relevant Transactions effected immediately pursuant to the Instructions may be deemed to take effect on the same day, the next succeeding day or the next business day if the Bank so determines. |
| 5.7 |
The Customer is aware that there may be error, delayed or incomplete transmission and acknowledges that, save for manifest error, the books and records of the Bank shall for all purposes be the conclusive evidence of any particular Transaction. The Customer acknowledges that all Instructions may be recorded. The books and records of the Bank in respect of any Instruction and/or the execution thereof shall be conclusive evidence (save and except manifest error) against the Customer in all courts of law and for all purposes. |
| 5.8 |
The Customer undertakes to check if any particular Transaction is effected and further declares that he is aware that due to the system set-up, certain Transactions may be rejected automatically, the Customer shall be solely responsible for those risks. |
| 5.9 |
Instructions will not be accepted or effected if there is insufficient fund or pre-arranged credit or inadequate items available in the Account specified by the Customer for the intended Transaction. The Bank shall not howsoever be liable for any consequence arising out of the failure of the Bank to execute any Instruction due to insufficient fund or available pre-arranged credit or inadequate items. |
| 5.10 |
Notwithstanding that there is insufficient fund or pre-arranged credit or inadequate items in the Account nominated by the Customer, and irrespective of any term and accommodation of the specific Transaction intended to be transacted providing to the contrary, the Bank may, at its absolute discretion, accept and execute Instruction without prior notice to or approval of the Customer. The Customer shall be liable for the resulting debit balance or overdraft, advance or credit (or any increase in the same) and all standard charges of the Bank relating thereto. Such debt shall be repayable to the Bank on demand together with interest thereon, from the date of execution of the relevant Instruction to the date of actual repayment (whether before or after judgement), both days inclusive, at a rate applicable to unauthorized overdraft which shall be determined by the Bank. |
| 5.11 |
Whilst any debt exists pursuant to Clause 5.10 of these Terms and Conditions, the Bank shall be entitled (but not obliged) without giving notice to the Customer to enter into such other Transaction at such time and for such pricing as it deems necessary (but without any duty to obtain the best price) to set-off or counter the Transaction effected pursuant to the Instruction. Any loss, damage, liability or expense suffered or incurred by the Bank as a result thereof shall be the Customer's liability and debited to any account of the Customer as the Bank shall select but any gain shall belong absolutely to and be retained by the Bank for its own use and benefit. The Bank's certificate in writing as to the amount of such loss, damage, liability or expense shall be binding and conclusive against the Customer. |
| 5.12 |
For transferring funds out of any Account by iBanking Instruction, the Bank shall accept no responsibility or liability if the receiving bank refuses to make or delays in making the transferred funds available to the intended transferee for whatever reason. |
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| 6.1 |
The Bank may at any time and from time to time by giving prior notice to the Customer impose a maximum and/or minimum daily overall and/or individual Transaction limit in terms of the amount, quantity or currency for Transactions effected by iBanking Instructions, but may waive or vary such limit in respect of any Transaction if it deems fit so to do. |
| 6.2 |
The Customer hereby agrees and acknowledges that any iBanking arrangement involving payment as between different accounts, whether of the Customer or of any third party(ies), will only be accepted if such arrangement has been approved by the Bank and is subject to such preset daily transfer or withdrawal limit(s) and procedures as determined by the Bank from time to time. |
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| 7.1 |
The Customer hereby undertakes to keep the Password secret. |
| 7.2 |
The Customer acknowledges that the Password may be issued to him in person at the Bank or in such other manner as the Bank may determine. For iBanking services, where the Bank at its discretion requires, a new iBanking Password may have to be re-selected by the Customer prior to proceeding to effect other Transactions. |
| 7.3 |
Upon the loss or any actual or possible unauthorized use of the Password, the Customer should immediately notify the Bank in writing. Until the Bank has received such notice in writing, the Customer shall have no claim against the Bank and shall be liable to the Bank for all losses and damages in respect of any transaction through iBanking services by using such Password. |
| 7.4 |
The customer acknowledges that, with regard to the SMS OTP provided by the bank, the customer may select a mobile phone number which has been previously registered for binding and activation, or visit the bank personally to apply for the use of SMS OTP and binding iBanking account to a mobile phone number. The customer shall also comply with related provisions in this agreement. As for the iBanking services, when specified by the bank according to the specific case, the customer may have to receive and then enter the SMS OTP according to related instructions when performing his/her transactions so that the bank can verify the identity of the customer. The use of such mobile phone number or SMS OTP should be agreed by the bank and the bank shall have the right to cancel or suspend the use of such mobile phone number or SMS OTP based on its absolute discretion. The SMS may be leaked, interrupted, mistaken, delayed or incomplete due to reasons of the service providers and the bank will not be responsible for any loss thus caused. |
| 7.5 |
The customer acknowledges that, with regard to the TOKEN provided by the bank, the customer will visit the bank personally to apply for the TOKEN and comply with related provisions in this agreement. As for the iBanking services, when specified by the bank according to the specific case, the customer may have to operate the related TOKEN as instructed to receive, display and enter the OTP when performing his/her transactions so that the bank can verify the identity of the customer. The use of electronic device or OTP should be agreed by the bank and the bank shall have the right to cancel or suspend the use of such electronic device or OTP based on its absolute discretion. |
| 7.6 |
The Customer agrees to protect his/her TOKEN, OTP, mobile device and SMS OTP from unauthorized access or use and accepts full responsibility for risks of such access or use. |
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| 8.1 |
The Bank will take reasonably practicable steps to ensure that its systems in connection with the iBanking services are installed with adequate security measures and to control and manage the risks in operating the systems, taking into account any law, rules, regulations, guidelines, circulars, codes of conduct and prevailing market practices which may be applicable to the Bank from time to time. |
| 8.2 |
None of the Bank or any Information Provider warrants or represents that the Services, the Information and the Reports are free from virus or other destructive features which may adversely affect the hardware, software or equipment of the Customer. |
| 8.3 |
The Bank shall not be liable for any loss or damage suffered by the Customer or any other person as a result of: |
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any mechanical, electronic or other failure, malfunction, interruption, inaccuracy or inadequacy of the Bank's telecommunication or computer system or other equipment or its installation or erroneous transmission of any Instruction or any error in the execution of any Instruction (except gross negligence or willful misconduct of the Bank's authorized officers) nor for any delay, loss (including loss of profit or any economic loss), expenses or damages whatsoever incurred or suffered by the Customer as a result thereof; |
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any delay, interruption or suspension howsoever caused by any third party(ies) (including but not limited to service providers or equipment suppliers), which interferes with, affects or disrupts the performance of the Bank hereunder. |
| 8.4 |
The Customer acknowledges that iBanking operates on a numeral based system and where the Customer gives iBanking Instruction to the Bank involving payment as between different accounts, the Bank may act on the number(s) of the account(s) or identification number given or selected by the Customer by means of electronic input (including but not limited to the he Customer's mobile number) and shall not be under any duty to verify whether any account number or identification number so given is corresponding to the name of the account holder of the such account. |
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| 9.1 |
In consideration of the Bank providing the Customer to obtain access to and have the use of iBanking services, the Customer agrees to act in accordance with these Terms and Conditions and any other instructions issued by the Bank from time to time. |
| 9.2 |
The Customer shall indemnify and keep the Bank indemnified from and against all losses, damages, expenses (legal or otherwise), actions, demands, claims, proceedings (whether actual or contingent), whatsoever which the Bank may suffer, incur or sustain, as a result of arising out of the Transaction effected by iBanking services or the use of iBanking Instructions or the provision of iBanking to the Customer. The Customer shall pay to the Bank on demand all sums (whether actual or contingent) so suffered, incurred or sustained by the Bank (whose determination shall be conclusive and binding on the Customer) together with interest accrued thereon from the date when the same were first paid or incurred by the Bank until actual payment in full by the Customer at a rate applicable to unauthorized overdraft which shall be determined by the Bank. |
| 9.3 |
The Customer warrants that it has full power and authority to accept these Terms and Conditions and perform its obligations hereunder and that all necessary corporate or administrative action has been taken to authorize acceptance of these Terms and Conditions, performance of its obligations and use of the iBanking services. The Customer further warrants that such acceptance, performance and use shall not contravene or conflict with any provision of its constitutional documents. |
| 9.4 |
Unless expressly permitted by these Terms and Conditions, the Customer shall not, and shall not attempt to sell, transfer, disclose, assign, convey, lease, sub-license, share, loan, distribute, transmit, broadcast, cablecast, put in circulation, download, reproduce, duplicate or otherwise provide or disseminate any information provided by the iBanking services in any form or by any means to any other person or commercially or illegally exploit any such Information. |
| 9.5 |
The Customer is not allowed to build or maintain or assist to build or maintain any over-the-counter market using any information derived from the Stock Exchange of Hong Kong Ltd. (SEHK) or any other third-party company that the Customer has obtained from the Bank, or disclose or assist to disclose such information to the market |
| 9.6 |
Where the Customer is more than one person, their liabilities hereunder shall be joint and several. |
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| 10.1 |
All information (including but not limited to exchange rates, interest rates, market prices for securities and precious metals) quoted by the Bank in the course of effecting a Transaction shall remain as a reference only and shall not be binding on the Bank until confirmed by the Customer within the time prescribed for confirming the Transaction. |
| 10.2 |
The quotations in iBanking services are for customer’s reference only. The Bank and the information providers accept no liability for any loss or damage arising from any inaccuracies or omissions of the information. The Stock Exchange of Hong Kong Limited and any other third-party companies endeavour to ensure the accuracy and reliability of the information provided, but does not guarantee its accuracy and reliability and accepts no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracies or omissions. |
| 10.3 |
The Customer acknowledges that due to compatibility of software or code/character sets employed, information from iBanking services might not be completely and correctly displayed on Customer’s system. |
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| 11.1 |
The Bank shall be entitled to charge fees for the use of iBanking services and TOKEN available to the Customer and/or the handling of Instructions. The Bank shall determine or amend such charges unilaterally at any time. The Customer hereby authorizes the Bank to deduct such fees from the iBanking account(s) and such other account(s) maintained by the Customer with the Bank. |
| 11.2 |
The Bank shall be entitled to retain for its own account and benefit all profits, rebates, commissions, fees, benefits or other advantage (if any), arising out of or in connection with the Bank's provision of iBanking or acceptance of iBanking Instructions and the Transactions effected pursuant to Instructions. |
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| 12.1 |
Any notice or other communication to the Customer in connection with any iBanking services may be given by the Bank to the Customer orally, in writing, by electronic signals, by advertisement in the newspaper, or the bank public website, or through such other means as the Bank deems fit. |
| 12.2 |
Oral notice or communication shall be deemed to have duly been given to and received by the Customer when any officer or agent acting for the Bank verbally notifies, whether in person or through the telephone, to the Customer or (as the case may be) any individual comprising the Customer or any one of his Authorized Signatory(ies). |
| 12.3 |
Written notice or communication shall be deemed to have been duly sent to and received by the Customer: (a) if delivered personally, at the time of such delivery; (b) if sent by letter postage prepaid, 48 hours after posting (for Customer with an address outside Macau SAR, 7 days after posting); (c) if sent by facsimile, at the time of dispatch; and (d) if sent by any other telecommunication means, at the time of dispatch. |
| 12.4 |
Any written notice or communication from the Bank to the Customer shall be deemed duly sent to the Customer at the address or facsimile number of the Customer last on record with the Bank. |
| 12.5 |
If the Customer consists of more than one person, any written notice or other communication to be sent to the correspondent address of the Customer last on record with the Bank or to any one person comprising the Customer at the last known address of such individual from time to time, shall be deemed effectively sent to the Customer. |
| 12.6 |
In addition to the manner of giving the notice as provided in Clause 12.1, all notices and announcements by the Bank shall be deemed duly made and effectively communicated to the Customer if the Bank shall have put or displayed notice thereof at the banking hall of the Bank or such of its branches as the Bank may in its absolute discretion determine for 3 consecutive Business Days. |
| 12.7 |
Any notice or communication from the Customer to the Bank shall be in writing and duly signed as per agreed signing arrangement. Such notice shall be addressed and delivered to the Bank at its principal place of business or such branches in Macau SAR for the time being selected by the Bank and notified to the Customer, shall be deemed to have been received only upon actual receipt by the Bank. |
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| 13.1 |
The provisions or schedules contained in the Agreement and/or relevant Terms and Conditions can be amended at any time in such manner and to such extent as the Bank may from time to time at its absolute discretion think fit. Notice of such amendment shall be deemed duly and effectively given to the Customer in accordance with Clause 12 above. Any amendment to such Terms and Conditions made by the Bank shall take effect and be binding on the Customer immediately upon notice to the Customer. |
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| 14.1 |
These Terms and Conditions shall be governed by and construed in accordance with the laws of Macau SAR |
| 14.2 |
The Customer(s) authorizes/authorize the Bank to disclose and transfer information relating to the Customer(s), their respective accounts and/or the transactions executed by the Bank on behalf of the Customer(s) to such person(s) as the Bank may be requested (whether or not compelled by law) to do so by any law, rules or regulations of any competent jurisdiction in which the Bank executes such transactions or any exchange, government or regulatory authority in such jurisdiction. |
| 14.3 |
Each of the clauses and provisions of the Agreement and/or the relevant Terms and Conditions is severable and distinct from the others and if at any time one or more of such clauses or provisions is or becomes invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby. |
| 14.4 |
No act, delay or omission by the Bank shall affect its rights, powers and remedies under these Terms and Conditions or any further or other exercise of such rights, powers or remedies. The rights and remedies under these Terms and Conditions are cumulative and not exclusive of the rights and remedies provided by law. |
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