The following Terms and conditions constitutes the agreement on opening and using online account between Sacombank Cambodia and Client (hereinafter referred to as the “Agreement”). By confirming the agreement on these Terms and Conditions, Client acknowledges that Client has read, understood and accepted to be bound by the rights and obligations under this Agreement.
In this Agreement, the following words shall be applied in the process of opening and using online account and shall be understood as below:
1. Sacombank Cambodia (SC) means Saigon Thuong Tin Bank Cambodia Plc (the Bank).
2. Client means individual having registered the usage of eBanking sevices and meeting requirements for opening and using online account of Sacombank Cambodia from time to time.
3. Online account (OA) is the non-term account opened online by Client for the purpose of depositing, saving or performing payment transactions (which are permitted in accordance with regulations of Sacombank Cambodia and National bank of Cambodia - NBC) through bank by means of payment.
4. OA services (services) mean services related to OA provided by Sacombank Cambodia via eBanking channels for the purpose of serving Client, including opening OA or other services provided by Sacombank Cambodia in each period.
5. Close OA: means OA is closed making OA become no longer valid for use.
6. Value date of a transaction means the date when a transaction is actually recorded into Client’s OA by SC’s system.
7. Transaction date is the date when a transaction arises on eBanking.
8. Opening date (posted upon the value date of a transaction) means the date when the transaction of opening OA is actually recorded into Sacombank Cambodia’s system.
9. Temporary locking or blocking of OA means that SCtemporarily suspends some or all of transactions related to a part or the whole available amount on OA.
10. Minimum balance means the minimum amount deposited when opening OA and maintained during the usage of OA.
11. Available balance means the amount of money which Client is able to withdraw by cash or transfer. Available balance is the credit balance of OA and deduct the amount which is temporarily locked or blocked.
12. Other definitions: be defined in the Terms and conditions of using Sacombank Cambodia eBanking services.
1. To open OA, Client is required to have opened and used at least one non-term account (which is opened at counter) in the same kind of currency with OA at SC. OA shall only be opened and owned by Client and not appliy for any other ownership types such as join – saving account, opened through guardian/representative.
2. The minimum balance of OA is applied in according with SC’s regulations in each period.
3. The quantity of OA opened for one Client is unlimited.
4. Client is entitled to use OA to perform all available services of eBanking.
5. Interest is calculated based on available balance at the end of the day and is credited at the end of the month. Interest rate applied for OA shall be decided by Sacombank Cambodia and changed from time to time and publicly posted by Sacombank Cambodia at the counter or on website. Client who demands to be consulted about interest rate is able to directly come to the counter or contact with Call Center.
6. Client is able to access to OA to view the account statement or receive account information of OA through Inquiry services provided through channels which have registered with Sacombank Cambodia.
7. Effective time of transaction shall be at the time when (i) Client confirmed the transaction on eBanking and was successfully process by the system or (ii) Sacombank Cambodia’s staff completes such transaction.
8. Fees and method of fees collection shall be applied in accordance with applicable Sacombank Cambodia’s regulations and announced by Sacombank Cambodia from time to time.
9. All applicable transactions related to OA can be performed by Client at the counter as prescribed. Client must use the specimen signature which had been registered with Sacombank Cambodia to implement transactions.
10. OA is not allowed to close through eBanking channels. In the demand of closing OA, Client can come to close at any branch of SC in the territory of Cambodia. When close OA, Client must comply with the applicable regulations on closing account at the counter.
11. Others:
- Comply with regulations in the Terms and conditions for using SC eBanking services.
- Comply with regulations of savings transaction at SC and the relevant regulations of law.
1. Rights of Client:
a. Use available balance in Client’s OA to perform legal and valid payment orders; be supported by SC to use account in a safe and effective way.
b. Choose and use appropriate payment methods, services and payment utilities provided by SC.
c. Authorize to other person to use OA at the counter. The authorization must be carried out in writing and comply with laws on authorization. Rights and obligations of the authorized person shall be regulated in the Power of Attorney of Client.
d. Request SC to perform payment orders which legally and validly arise and be provided with information on payment transactions and OA balance according to agreement with SC.
e. Request SC to close or temporarily block OA at the counter.
f. Receive interest on the amount in OA at the interest rate according to the deposit interest rate tariff applicable to Client published by SC in each period.
g. SC shall ensure the security of the OA balance and the information confidentiality related to OA and transactions on OA according to applicable laws.
h. Other rights as specified in applicable laws or prior written agreement between SC and Client which is not contrary to the applicable laws.
2. Obligations of Client:
a. Ensure the sufficient balance in OA to perform payment orders which have been made and pay service fee according to SC’s regulation.
b. Observe the regulations on opening and using OA in this Agreement.
c. Take responsibility for any lost arising due to errors, abuse or frauds when using payment services through OA due to the faults of Client.
d. Promptly notify SC in case Client detects any errors or mistakes in Client’s OA or suspects that Client’s OA has been misused.
e. Refund or cooperate with SC to refund the money due to errors or mistakes when crediting to Client’s OA.
f. Sufficiently, obviously and accurately provide relevant information, documents on opening and using account. Promptly notify and submit relevant documents to SC in case of any change in the information in account opening profile.
g. Maintain the minimum balance on the account follow SC’s regulations.
h. Do not lease or lend Client’s OA.
i. Do not use Client’s OA for transactions for the purposes of money laundering, terrorist financing or other illegal activities.
j. Agree with SC to provide information related to accounts and other related transactions to organizations participating in transaction processing in order to provide services and utilities to Client as long as the information provided must be accurate with the information that Clients have registered with SC during the process of registration and/or using account, doing transactions.
k. Comply with other regulations of applicable laws and SC on opening and using account.
1. Rights of Sacombank Cambodia:
a. Automatically debit Client’s OA in the following cases:
- To collect due or overdue debts, interest and other valid expenses arising in the process of OA management and provide payment services according to the prior written agreement with Client in compliance with the regulations of law.
- The balance in the foreign currency account of Client is insufficient to pay for fees arising in the account (such as account management fee, transaction fee, etc.). SC has the right to deduct money from OA of Client to collect such fees with “offer rate by transfer” of SC at the time of fee collection.
- Upon the written request of a competent authority in forcible execution of a decision on sanctioning administrative violations, a decision on judgment execution or a decision on tax collection or fulfillment of other payment obligations according to provisions of law.
- For the purpose of adjusting the items which are inaccurately accounted, inappropriate for its nature or inconsistent with the content of using account in accordance with the law and SC notifies Client of such adjustment.
- Has the right but not obligation to collect fees from other accounts of Client in case the balance on Client’s OA is insufficient to pay for fees of SC.
- When detecting that the Client’s OA has been credited by mistake or there is a request for cancellation of credit transfer order of the payment service supplier due to any mistakes or errors in comparison with the payment order of Client. For avoidance of misunderstanding, SC will be entitled to automatically debit the account upon such request without considering the cause of cancellation of the credit transfer order. Accordingly, in case of any complaints or disputes, if any, Client will directly contact with the payment service supplier that requested the cancellation of the order.
- Pay for the recurring/periodical payment as agreed by Client and SC.
b. Refuse to perform the payment orders of Client in the following cases:
- Client does not perform adequately all the requirements of payment procedure, payment orders are invalid or inconsistent with the registered information or are not compliance with the agreement between SC and Client.
- The balance in Client’s OA is insufficient to perform the payment orders.
Upon requirement in writing of the competent authority or evidence of payment transactions for the purpose of money laundering or terrorist financing according to laws on anti – money laundering.
- The account is closed, temporarily blocked or blocked all or in a part and the remaining balance is not enough to perform transactions.
- Refuse the request for temporary block or close account of Client in case Client fails to fulfill payment obligations according to the enforcement decision of the competent authority or has not paid for the debt payable to SC.
c. Refuse the request for providing information, to notify Client of blocking the account in case the account is blocked under the document of the competent authority and/or is being investigated.
d. Establish the regulations on the minimum balance in the account and such regulations must be publicly announced and clearly instructed for Client’s knowledge.
e. Reserve the right (but not obligation) to suspend the transactions or temporarily lock Client’s account in case that based on SC’s determination, Client has any signs of fraud or violates the provisions of law related to the account.
f. Block, close, convert or final settle account balance as regulation.
g. Establish and apply safety and confidentiality methods during the process of opening and using account in accordance with SC’s regulations and the provisions of law.
h. Require Client to provide relevant information to conduct payment services as prescribed.
i. For the purpose of providing financial service to Client, SC reserve the right to actively provide information related to OA and other relevant transactions to organizations (SC’s partner) involved in transaction processing upon the requests from those organizations.
j. Request Client to pay compensation or subject to other penalties (such as account closing…) as stipulated by SC due to the violations of this Agreement, violates the provisions of law and SC’s relevant regulations on opening and using OA, opening and using current account, using services provided by SC.
k. SC is entitled to amend or supplement the fee tariffs and these Terms and conditions at any time but SC must notifies Client before the effective date of such amendment or supplement by using the following methods (including but not limited): sending letter (or email) directly to the address provided by Client to SC; publishing on SC’s website, publicly noticing on mass media or posted at SC’s transaction points or using any other methods determined by SC. The aforesaid amendment or supplement shall be binding upon Client in case Client continues to use such services right after the effective date of such amendment or supplement.
l. Other rights in accordance with the other written agreement between SC and Client which is not contrary to provisions of law.
2. Obligations of Sacombank Cambodia:
a. Fully and timely process Client’s payment orders after checking and controlling the legality and validity of such payment orders.
b. Promptly credit Client’s account upon receipt of money transferred to or deposited to such account and timely refund any amount debited from Client’s account by mistakes.
c. Fully and timely provide information on account balance and transactions arising on OA as requested by Client and take responsibility for the accuracy of such information.
d. Ensure the confidentiality of information related to OA, transactions on OA according to provisions of law and agreement with Client.
e. Be responsible for lost arising from the mistakes, misuses or frauds occurred on Client’s account due to Sacombank Cambodia’s fault.
f. Observe the provisions of law on anti – money laundering and terrorist financing.
g. Publicly instruction or notify for Client’s acknowledgement and promptly answer or handle the inquiries and complaints during process of opening and using account.
1. Temporarily lock OA:
- SC temporarily locks Client’s OA (means that SC suspends the transaction performance on such OA) for the partial or entire available amount on OA upon the written request of the OA holder or the prior written agreement between SC and Client except the case specified in Item IV.1.c of this Terms and Conditions.
- The ending of temporary lock of OA and the handling inward/outward payment order during the temporary lock period shall be performed in accordance with Client’s request or written agreement between SC and Client.
2. Block OA:
a. SC has the right to block partial or the whole available amount on OA in the following cases:
- According to decision or written request of the competent authority according to provisions of law.
- Sacombank detects any mistakes or errors when crediting to Client’s OA or upon refund request of the payment service provider due to any mistakes or errors in comparison with the payment order of the remitter, the blocked amount on OA shall not exceed the mistaken or erroneous amount.
- Right to block OA shall be presumed as the method of ensuring obligation performance of Client when Client violates any commitment with SC.
- SC suspects that Client violates provisions of law or any sign of crime occurs.
- Other cases as prescribed by the laws.
b. Immediately after blocking the account, SC notify Client of the reason and the scope of account blocking if the block is not Client’s request and/or not the competent authority’s request. The blocked amount must be preserved and strictly controlled in accordance with the blocking content and shall only be available to use upon the termination of blocking. In case the account is partially blocked, the remaining amount which is not blocked shall be normally used.
c. Blocking account shall be terminated as follows:
- At the end of blocking period.
- Upon written request of the competent authority on the termination of blocking account.
- The errors or mistakes of transferring money have been completely handled by SC.
- Client has continued or completed the obligations with SC that have been previously violated by Client.
- According to provisions of law.
3. Close OA:
a. SC close account in the following cases:
(i) Upon written agreement of Client;
(ii) The OA balance is zero (or lower than the minimum balance according to SC’s regulations from time to time) and there is no transaction for at least 6 months (or another period according to notice or regulations of SC from time to time);
(iii) When Client is dead, declared to be dead, missing or loses capacity of civil act;
(iv) When Client violates any commitment or agreement in the Agreement on opening and using online account with SC;
(v) Other cases as regulated by SC in each period.
b. In the demand for closing OA, Client must submit the Request form for closing OA (SC’s form) and return the unused cheque (if any).
c. OA account holder must come to SC to process closure of OA and can do at any branch of SC.
d. When the Bank have to close OA, if the balance of OA (after deducting service fees, expenses if any) is greater than 0 (zero), the Bank will notify Client (via email, SMS, contact via Client’s phone number which is registered at the Bank) to complete closing OA procedures or SC closes OA comply with SC’s regulations and Cambodian law in each period.
1. These Terms and Conditions on opening and using account online are made in English, Vietnamese and Khmer. In case of any inconsistency, the English version shall prevail.
2. In case of any inconsistency between this Agreement and the Terms and Conditions of using SC eBanking services, this Agreement shall prevail.
The account holder and SC shall use their reasonable best efforts to resolve any arising dispute related to opening, using or managing OA through negotiation and mediation in priority. In case of no resolution can be reached through mediation, the parties reserve the right to submit such dispute to the competent court in Cambodia for settlement.
1. This Agreement shall be effective from the date Client confirms that Client has read, understood and agreed with all of terms and conditions mentioned above until both parties have fulfilled all obligations under this Agreement.
2. Client undertakes to observe this Agreement together with SC’s regulations on services and other relevant agreements with SC until an occurrence of legal event terminates this Agreement.