Requirements and General Conditions for the Opening of Current Deposit Account

Transcription

1 Requirements and General Conditions for the Opening of Current Deposit Account I have agreed to comply and be bounded by all relevant terms and conditions and clauses expressed in this current deposit account. 1. Deposit Protection This deposit is protected by the Deposit Protection Agency for the amount prescribed by law, except for the foreign-currency deposit, Non-resident Baht Account (NRBA), and Non-resident Baht Account in Securities (NRBS), in accordance with the law of currency exchange control. 2. Copy of deposit slip / statement Upon opening an account, the account holder will receive a copy of the deposit slip as evidence of the account opening. The Bank will send deposit/withdrawal statements to depositor at the end of the month or period. Upon being notified of such Statements, the depositor must check for the accuracy of all transactions. If they are inaccurate, the depositor must inform the Bank within 7 days from the date that the Bank sent such statements. In the absence of notice of inaccuracy by the depositor to the Bank, the statement shall be deemed correct and accurate. The Bank reserves the right at all times to amend the transaction entries on the statement without prior consent from the depositor should it appears to the Bank that there is any inaccuracy on the face of the statements. 3. Service Conditions for Current Deposit Account 3.1 Minimum initial deposit Current account: Initial deposit must not be lower than 10,000 Baht, or the amount specifically required by the Bank for each product. 3.2 Minimum deposit after initial deposit shall be in accordance with the Bank s announcement at a particular time. 3.3 Age of depositor Current account: Minimum age is 20 years old. 3.4 Number of accounts that can be opened: Unlimited number of accounts, or as specifically required by the Bank for each product. 3.5 Type of person opening account: as specifically required by the Bank for each product. 3.6 Minimum average remaining balance per month of active account Current account: 1,000 Baht, or as specifically required by the Bank for each product. 3.7 Service channels, service days and hours, daily limit on the number of transactions and amount, and duration expected to complete orders in each channel. Via UOB branches: provides services of deposit, withdrawal, transfer, balance and transaction history checking, product and service payment, and other financial services during the operating days and hours of UOB branches with an unlimited number of transactions and amount per day. Via UOB branch where the account is opened: provides services of withdrawal for closing an account during the operating days and hours of UOB branches with an unlimited number of transactions and amount per day. Via Automatic Teller Machine - ATM: provides services of withdrawal, transfer, product and service payment for 24 hours via ATM, upon applying for an ATM card or debit card. Daily limit on the number of transactions and amount shall be in accordance with the service conditions of ATM cards / debit cards. Via Cash Deposit Machine CDM: provides services of deposit for 24 hours via CDM with an unlimited number of transactions and amounts per day. Deposit method shall be in accordance with the deposit conditions of the CDM. Transactions will be completed when the depositor gets a deposit receipt. Via UOB Phone Banking: provides transfer services between depositor s accounts of UOB, enquiry for all types of account, money transfer for product and service payment, and other financial services for 24 hours, upon applying for UOB Phone Banking. Daily limit on the number of transactions and amount shall be in accordance with the service conditions of UOB Phone Banking. Via Internet Banking: provides balance and transaction history checking services, money transfer to other UOB accounts or accounts maintained with other banks, Global Fund Transfer, product and service payment, online money order, and other financial services for 24 hours, upon applying for a UOB Cyber Banking or UOB Business Internet Banking. Daily limit on the number of transactions and amount shall be in accordance with the service conditions of UOB Cyber Banking or UOB Business Internet Banking. 4. Conditions of Interest Payment Current account: No interest payment or as announced by the Bank. 5. Fees 5.1 The depositor is aware and agrees that the Bank shall immediately deducts various fees from each type of current account under the condition and rate announced by the Bank at any moment. 5.2 Various charges and service fees, including maintenance charge, Fee charged for Cash deposit/withdrawal from UOBT s account (s) between 2 clearing zones, transfer fee, fee of statement request, annual fee (if any),

2 Cash deposit via UOB CDM between clearing zones (Provinces), coin deposit, deposit of a post-dated check, fee on returned check, etc., shall be in accordance with the Bank s announcement in pursuant to the regulations of the Bank of Thailand. 5.3 If the account s remaining balance is less than the amount required by the Bank and the depositor has not deposited or withdrawn money from such an account for more than a consecutive period specified by the Bank, the depositor agrees that the Bank shall immediately deduct the remaining balance from this account to settle maintenance charge on a monthly basis, as specified by the Bank. 6. Deposit 6.1 If the depositor, who is a staff member, employee, partner, director or holds a position in any legal entity, brings a check, promissory note, or other instruments ordered made payable to such a legal entity, to be deposited into the personal account, the Bank may refuse such a deposit even though such checks, promissory notes, or other instruments are rightfully endorsed by such a legal entity. 6.2 Deposit of check, promissory note, or other instruments into the account shall be considered that the Bank receives such a deposit when the Bank has already collected money from such checks, promissory notes, or other instruments. However, if the Bank allows partial or full payment of such checks without knowing the collection result, and if it appears that such a check is rejected for payment, the depositor agrees to pay the Bank the amount withdrawn in advance and interest at the maximum default rate, charged by the Bank at any moment, from the date that money was withdrawn onwards. The interest will be monthly compounded according to the Bank s commercial method, until the debt is completely repaid. The depositor shall be deemed as overdrawing money from the Bank. 6.3 If the Bank deposits money into depositor s account and the depositor has no right on such money or such money is deposited into the account incorrectly, the depositor agrees that the Bank deducts money from the account and immediately amends the transaction to make it correct. If such deduction results in the depositor being indebted to the Bank, the depositor agrees to be liable for such amount of money including the interest at the maximum default rate, announced by the Bank at any moment. The interest will be monthly compounded according to the Bank s commercial method, until the debt is completely repaid. The depositor shall be deemed as overdrawing money from the Bank. 7. Money Order 7.1 For money orders, the depositor must use a check provided by the Bank for particular account only. Checks of other depositor cannot be used. The Bank may consider paying money according to the document or any withdrawal slip ordered by depositor, and the depositor agrees that money is correctly paid. 7.2 A signature on the check must be the same as the authorized signatories given to the Bank, and all condition for withdrawal specified and notified to the Bank are fully fulfilled. 7.3 The Bank is not obliged to verify the authenticity of the depositor s stamp or seal affixed on the check, or any other conditions other than authorized signatories and withdrawal conditions only. 7.4 A request for the cancellation, addition or deletion of persons authorized to withdraw money or change other conditions must be made in writing together with all required documents pursuant to the bank s regulation. All of which shall be sent to the bank for consideration in advance. Any changes shall bind the Bank when the Bank has approved and registered such changes into the Bank s system. 7.5 In the case that there are a number of depositor s checks ordered to withdraw cash, collect money via the clearing house, collect money from other banks, or debit account from other orders, but the remaining balance in the account does not sufficiently cover all amount of money ordered for payment, the depositor agrees that it is the Bank s discretion to consider paying any checks in any order. 7.6 If the Bank allows payment of such a check for the amount which is more than the remaining balance in depositor s account or despite no remaining balance in the account, the depositor agrees that the depositor has overdrawn the money from the Bank for the amount of debt appearing in such an account and the depositor agrees to pay the Bank the amount overdrawn and interest at the maximum default rate, announced by the Bank at any moment, from the date that the Bank has paid such money onwards. The interest will be monthly compounded according to the Bank s commercial method, until the debt is completely repaid. The depositor shall be deemed as overdrawing money from the Bank. 7.7 If a depositor wishes to stop paying money orders on checks, the depositor must send a letter to notify the Bank before the date indicated on the check and specify details of account number, check number, payment date, name of payee, amount of money and reason for stop payment. 7.8 In the case that the check is lost or stolen, the depositor must immediately inform the Bank in writing, make a complaint as evidence, and submit petition evidences and check details as stated in clause 7.7 to the Bank, and request that the Bank immediately stop paying the money.

3 7.9 If the letter, as in clause 7.7 and 7.8, reaches the Bank in delay and the Bank has already paid money on the check before receiving such a letter, or the Bank receives such a letter at the very late stage and that the payment cannot be stopped i.e. it is after the collection period of each day, the depositor agrees that such execution is the rightful and normal business of the Bank, and will not claim the bank for any damages When the check, which is not yet ordered to be paid by the depositor, is intentionally or negligently lost by the depositor without notifying the Bank, if any person forge the payer s signature, the depositor agrees that the depositor takes part in such damages and will not claim the bank for any damages from the Bank Checks tendered for cash or deposited to collect money, if the Bank believed that such checks are suspicious, the Bank may not pay money or refuse to deposit, and the depositor agrees to waive his right to claim for any damages arising out of non-payment of such checks. 8. Statement correction by crossing-out 8.1 For the check being scratched or deleted or with wrong conditions as stated in clause 7.1, 7.2, 7.4, the Bank will not pay money or deposit such check into the account. Any amendments or changes on check can be done by crossing-out and countersigning in all changes. Conditions stated in clause 7.2 must be completely followed, except for crossing out the word or holder. 8.2 If the depositor has any types of liabilities including fee, duty, insurance premium, or all types of expenses, whether such fees or expenses exist or at present or in the future, the depositor agrees for the Bank to record such liabilities or various expenses in this account, and it will be deemed that the depositor has overdrawn money in the account from the Bank. The depositor agrees to pay for the amount appearing in the account. The interest will be compounded according to commercial method of current account. 9. Conditions for joint deposit account 9.1 Depositors are aware that for the opening of accounts using joint depositors or a joint account name with either single or joint withdrawal authority, if one of the joint depositors or authorized persons is dead, all of the other joint depositors, who remain alive, agree that the Bank may stop (i).withdrawal, (ii) deposit or reject payment under any checks as the Bank considers appropriate. 9.2 In addition to the above conditions, obligations between the Bank and depositors specified in the Bank s announcement, legal provision, procedure and common practice in Banking industry on current account, shall apply to deposit and withdrawal from this current account, to the extent that it is not in conflict with the conditions. 10. Closing of current account 10.1 An account can be closed only at the branch where it is opened A person who opens an account can close it on his own. In the case that a father and/or mother deposits money for a minor child, the father and/or mother can close the account on their own; or minor child, owner of such a deposit who reaches his legal age, can close it on his own. In the case that the father and/or mother, deposits money for their minor child, passes away, the Bank reserves the right to allow money withdrawal and/or account closing only in the case that the minor child has already reached the legal age. However, the Bank reserves the right to allow money withdrawal in other respects as it deems appropriate. The Bank s discretion is deemed to be final. The depositor shall not argue or claim for any damages from the Bank The Bank may close the depositor s current account at anytime by giving prior notice to the depositor for a period that the Bank sees appropriate. However, in the case that the depositor orders to pay for an amount over the account balance or there is no remaining balance in the account, or the balance is seized or attached by order of any official or agency empowered by law, or the Bank exercises its right under agreement or set off debts until the balance is zero, the Bank will close such an account without prior notice to the depositor. Upon closing of the account either by the Bank or due to the depositor s request, the depositor must return all unused checks to the Bank; and the depositor agrees that the Bank will set aside money from such an account to pay for the check, which the depositor has ordered to pay but no one has drawn the money from yet. 11. Deposit, Withdrawal, Transfer via UOB branches / Cash Deposit Machine (CDM) Deposit, withdrawal, transfer are transactions which are conducted at counters at any UOB branches / Cash Deposit Machine CDM. The Bank shall immediately deposit, withdraw, transfer money according to the account holder s order. If an account holder wishes to cancel such a deposit, withdrawal, transfer or wishes to amend the orders of such a deposit, withdrawal, transfer, the account holder must immediately inform an officer at counters at any UOB branch / amend orders before such transaction is confirmed to be transacted at the Cash Deposit Machine (CDM). When the Bank completes a request for deposit, withdrawal, transfer, the account holder shall get a copy of the deposit, withdrawal slip or transaction receipt, as evidence of such a deposit, withdrawal or transfer.

4 The account holder cannot notify the Bank to cancel or amend such request of a deposit, withdrawal or transfer; and cannot ask for a refund of the fee paid to the Bank. 12. Money Transfer Service with Advance Agreement A current account can be used as a settlement account for direct debit of various utilities and service charges. An account holder can use this service by giving written notice to the Bank. If the account holder wishes to cancel or amend the use of the settlement account for direct debit of various utilities and service charges, the account holder must notify the Bank in writing at any UOB branches. The Bank shall terminate it without delay or within 30 days. When the Bank completes the deposit / withdrawal / debit according to the account holder s request, the account holder can check such transfer / debit from his passbook or statement. 13. In the case that an account holder finds error from deposit / withdrawal / transfer from the account / direct debit In the case that an account holder finds error from deposit / withdrawal / transfer from the account / direct debit, the account holder must contact the Bank and provide evidences of the deposit-withdrawal slip or transaction receipt showing the name, account number, transaction date and time, type of transaction, amount of money, branch, and/or service tools within 7 days from the transaction date, for the Bank to verify. The Bank will investigate the notified transaction with evidences and information that the Bank has. If error is found, the Bank will correct any errors found immediately. If such error was caused by force majeure, the Bank will find its cause and conclusion quickly. Investigation and conclusion will be completed within 30 days from the date of notification. The Bank will notify the transferor of the results of investigation as soon as possible but in any cases shall be within 7 days from the date that the Bank is aware of such a result. If the depositor does not oppose to the result within such a period, the Bank shall consider that such a deposit and withdrawal transactions which are sent are correct. If it appears later that such a deposit and withdrawal transactions are incorrect, the Bank reserves the right to amend such transactions again without prior consent from the depositor. 14. Fund Sweeping 14.1 Terms and Conditions Under this terms and conditions, the Bank shall provide the Funds Sweeping Service to the account holders which could be either individual or Juristic Persons that open and maintain account in the same or different branches. This service will efficiently facilitate cash management for account holder. The obligations of the Bank under this terms and conditions are conditional on the Bank receiving, in form and substance satisfactory to it, such documents as it shall at its discretion require in respect of each account holder. The Bank shall make the following transactions as below: Transfer from the Master Account the negative amount in the Sub Account (if any) to the Sub Account so that the balance in Sub Account is not in the negative amount and/or Transfer the outstanding balance in the Sub Account to the Master Account (if any) so that the balance in Sub Account remains at zero. Master Account means account name and number the account holder specifies in application for account opening Sub Account means account name and number the account holder specifies in application for account opening 14.2 Processing Date and Time The processing time is at the end of day of each business day (excluding weekends and public holiday as announced by Bank of Thailand) 14.3 Fee Fees and charges are as specified by the Bank announcement Termination and suspension The Bank or the Master Account Holder may terminate the Agreement at any time by not less than thirty (30) days' prior written notice to the other 15. Liabilities of account holder For deposit / withdrawal / transfer from the account / direct debit, the Bank shall use an account number of the payee specified by the account holder in each type of slip. The account holder certifies that all account number and information, specified by the account holder in this document, are absolutely correct. The Bank s execution on such information is considered that the Bank performs correctly and releases the Bank, the Bank s agents and/or other banks relevant to such ordered transactions, from any liabilities in all aspects. 16. Liabilities of the Bank to account holder In the case that the Bank acts or omits to act pursuant to orders and/or withdrawal or transfer request, that causes an account holder to not receive any service and/or money or causes an unauthorized and illegal transfer from the account and it is not account holder s error, the Bank agrees to be liable for the actual loss/ damages that may normally be occurred, except for damages not caused by the Bank s mistakes,for example, there is insufficient fund in the account, or the account is in legal process, or there is suspicious conduct on account usage, or there is a default on conditions or agreements with the Bank, or there is no currency for transfer, or the receiving bank cannot credit money into the account for whatever reasons, or payment is refused by the receiving bank or bank s

5 agent according to the law, announcement or order of payee s domestic bank, or difficulty has been notified to the transferor before or upon conducting the transaction, or it is caused by force majeure such as a failure telephone system, power failure, failure in the computer system or information connection; the Bank will stop providing service without prior notice to the account holder, and the account holder agrees not to claim for any damages from such executions. The Bank will refund money to the account holder with no interest, only after the Bank is confirmed by agent bank that the money is refunded to the Bank. The Bank will contact the account holder at the address or telephone number indicated in the transaction record. If there is any fee or expense, the account holder agrees that the Bank will immediately deduct such fees and expenses from the money refunded for a full amount without prior notice to the account holder. The Bank s liabilities for damages according to this clause are limited to the amount of fees earned from the account holder and refunded money earned from the account holder. 17. Any act done now or hereafter by the Bank, its staff or representatives, parent company, associated companies, affiliates, companies in the group and/or subsidiaries of the Bank, both in and out of the country, other financial institutions, auditors, appraisals, assignees, service users or members of National Credit Bureau Company Limited, juristic persons, government and/or private agencies, for the purpose of providing, receiving, sending, compiling, examining, reporting, copying, disclosing, accessing personal data, credit and/or service data, historical record, status, such other e-data that relate to the account holder and/or connected persons of the account holder, to and/or between the entities/agencies referred to above, under the regulations, requirements, agreements or contracts between any agencies concerning the aforesaid data or under the law now or hereafter in force, shall be deemed having been done for the purpose of considering and/or providing credit facilities and/or services, debt restructuring, extension, reviewing credit facilities and/or services, data processing and/or rendering services, or for the purpose to comply with the law, including operating business, Bank s operation, notifying/ collecting debt, making demands, setting statistics, planning, marketing, assigning rights and duties, launching products and/or services. The account holder agrees that this consent has been given to render the aforesaid acts lawful and shall not be in any way revoked despite the disapproval of the Bank to grant the account holder credit facilities/services and/or the account holder s full repayment or cessation of use of any service of the Bank. Nor shall the account holder claim against the Bank for any damages incurred from such acts. 18. FATCA Related Provisions 18.1 The depositor consents to provide all required documentation or information, including but not limited to date of birth, countries of citizenship, countries of tax residency and associated taxpayer identification numbers that may be required to enable the Bank and its agents to document the depositor in accordance with sections 1471 through 1474 of the United States Internal Revenue Code ( FATCA ) or other agreement by or between governments. The depositor shall notify the Bank in writing within thirty (30) days of any change that affects the depositor s tax status pursuant to any legal requirement or other agreement by or between governments. The depositor acknowledges that additional documentation or other information may be required in order to process any such change and consents to provide all required documentation or other information when the Bank requests the same The depositor represents and warrants that the depositor has provided to the Bank all documentation or other information as may be required by the Bank for compliance with FATCA and consents to provide all required documentation or other information within 7 days of a request from the Bank in writing or otherwise. The depositor further acknowledges that any failure on the depositor s part to provide accurate and timely information pursuant to requirements and requests by the Bank may result in the Bank having to deem the depositor recalcitrant and/or reportable and take all necessary action against the depositor in order for the Bank to be compliant with requirements under FATCA, local legislation in connection with FATCA and any other provision arising out of an agreement between governments pertaining to FATCA The depositor consents to the collection, storage, and disclosure by the Bank and its agents of any Confidential Information to the Bank s parent company, associated companies, affiliates, companies in the group and/or subsidiaries of the Bank (our Group ), persons from whom the Bank and its agents receive or make payments on the depositor s behalf, domestic and/or foreign tax authorities including without limitation to United States Internal Revenue Service, and domestic and/or foreign governmental authorities as required by law or other agreement by or between governments. Confidential Information includes customer personal data such as names, addresses, tax payer identification numbers, customer s bank account details, FATCA status (compliant or recalcitrant), type and value of financial products and/or other assets held with the Bank, transactional information, and any other information that a reasonable person would consider being of a confidential or proprietary nature. The depositor s consent shall be effective notwithstanding any applicable nondisclosure agreement. The depositor represents that the depositor has secured from any third party on whom the depositor has provided information to the Bank any consents and waivers necessary to permit the

6 Bank and its agents to carry out the actions described in this paragraph, and that the depositor will secure such consents and waivers in advance of providing similar information to the Bank in the future The depositor agrees and acknowledges that the Bank is entitled to take all necessary action to be and remain compliant with FATCA as is required by law or other agreement by or between governments The depositor agrees and consents that the Bank or any member of the Group, may block any account (and later remove the block or later terminate the relationship with the depositor) at any time or withhold any amounts in any account at any time, if an authority (whether domestic or foreign) including without limitation to United States Internal Revenue Service requires the Bank or any member of the Group to do so, or the Bank or any member of the Group is otherwise required by law or pursuant to agreements with any regulator or any authority to do so, or if the Bank or any member of the Group needs to comply with internal policies, intergovernmental agreements, or with any applicable order or sanction of an authority The Bank or any member of the Group, may take whatever action the Bank or any member of the Group considers appropriate to meet any obligations, either in Thailand or elsewhere in the world, relating to the prevention of tax evasion. This may include, but is not limited to, investigating and intercepting payments into and out of the depositor s account(s) (particularly in the case of international transfer of funds), investigating the source of or intended recipient of funds, sharing information and documents with domestic and international tax authorities including without limitation to United States Internal Revenue Service and withholding income from the depositor s account and transferring it to such tax authorities. If the Bank or any member of the Group is not satisfied that a payment in or out of the depositor s account is lawful, the Bank or any member of the Group may refuse to deal with it. 19. Other conditions 19.1 In the case that the depositor does not conduct transactions related to the account by himself, but the depositor assigns other persons to act on his behalf, such transaction shall be deemed as performed by the depositor and depositor must be responsible for such transactions as if the depositor conducts transactions by himself without any arguments. This clause also applies to ATM and debit cards When the depositor changes address or office location, the depositor must inform the Bank in writing. If any documents or communication letters, which the Bank sends to the depositor at the address so specified cannot be delivered for whatsoever reasons, it shall be deemed that the depositor is already informed of the messages in such documents or communication letters If the depositor has liabilities owned to Bank, either exists before or at present or in the future, the depositor agrees that the Bank shall apply money in the depositor s account to settle such liabilities without prior notice, or the Bank has the right to retain money in all accounts of the depositor until the depositor completely repays the liabilities owes to the Bank as the case may be Terms and conditions, requirements, various conditions, service charges shall be in accordance with the Bank s announcement posted at the office and on the website ( By giving 30-days advance notice by means of the mentioned method, the Bank may make adjustment which costs more burden to the customers. The depositor is considered to be informed of such changes and agrees that such changes will bind the depositor without any separate notice being sent.