These Terms and Conditions provide information about Tropical Bank Limited’s Internet Banking Service (hereinafter referred to as IBS) provided to Customer (hereinafter referred to as the User) by Tropical Bank Limited (hereinafter referred to as the Bank) and set out the rights and obligations of the User and the Bank in connection with the use of the IBS. In the event of any conflict between these Terms and Conditions and the Rules and Regulations governing the User’s account with the Bank, these Terms and Conditions shall prevail.
APPLICATION FOR TROPICAL BANK INTERNET BANKING
These Terms and Conditions form the contract between the User and the Bank for using IBS. The User shall apply in the prescribed form for use of Internet Banking and the Bank shall at its discretion accept reject any such applications. By applying for Internet Banking for the first time, the User acknowledges and accepts these Terms & Conditions. Notwithstanding anything contained herein, all Terms & Conditions pertaining to the accounts shall continue to apply.
INTERNET BANKING USERS LOGIN ACCESS, PASSWORD & SECURITY PROCEDURES
The Bank will prvide the customer with a unique customer identification (hereinafter referred to as Customer ID) and a temporary p ersonal Identification Number(hereinafter referred to asPIN) in the first instance.
As a safety measure, the User, should immediately change the PIN upon his/her first login. The User is requested to change his/her Password frequently thereafter.
The User acknowledges that the Customer ID and the PIN selected acts as the User’s authorized signature. This signature authorizes and validates all instructions made on the IBS.
The User is responsible for maintaining the confidentially of his/her Customer ID and PIN. Therefore, the User should not disclose it to anyone.
If the User forgets, loses or discloses the Customer ID or PIN he/she has to request for issue of a new PIN by presenting a written request to the Information Technology Department of the Bank.
The User agrees and acknowledges that the Bank shall in no way be held responsible for any loss as a result of information being disclosed by the Bank regarding his Account(s) or carry out the instruction of the User pursuant to the access of the Internet Banking and the User shall fully indemnify the Bank in respect of the same.
User is solely responsible for the maintenance, installations and operation of User’s computer and for the software used in accessing Internet Banking.
The Bank shall not be responsibility if the Internet Banking System does not work properly due to the failure of electronic or mechanical equipment or communication links, telephone or other interconnect problems, normal maintenance, unauthorized access, theft, operator errors, severe weather, earthquakes, floods and strikes, or other labor problems.
The Bank will not be held responsible for any computer virus that affects customer’s computer or the software while using Internet Banking or by accessing Internet Banking through the World Wide Web (WWW).
There shall be charges against the User for use of the service.
The Bank reserves the right to change and recover from the User relevant service charges, as may be fixed time to time. The User hereby authorizes The Bank to recover such Charges from His/her account(s).
Upon obtaining a Customer ID and PIN, the User is requested to check the list of his/her accounts with the Bank. If any of the User’s account is missing, please inform the Bank immediately. If a third party account is linked to the User’s ID, the Bank should be informed accordingly. The User should not perform any transaction on that account as it will be treated as a fraudulent activity.
If User believes unauthorized transactions are being made with his/her account, he/she should change the Password immediately and notify the Bank.
The User should regularly check the Statements for all of his/her accounts for any unauthorized transactions. In case of any irregularity on the account, the User should inform the Bank in writing.
The User shall be responsible for all transfers transactions initiated through Internet Banking.
The User undertakes to enter the correct account number and transaction amount for the fund transfer request or will be held liable for any erroneous transactions made.
The Bank shall set IBS transaction limits which shall be communicated to the User from time to Time.
Any transaction made after working hours or on public/bank holidays, the transaction value date will be the next working day. No transaction is allowed from a non-convertible taka account to a convertible account.
Any conversion rate of any foreign currency shown and interest rate are only for customer’s convenience. It cannot be taken as price quote from bank’s end.
MAINTAINACE OF SUFFICIENT FUNDS
The User shall ensure that there are sufficient funds, in his/her account for transactions through the IBS.
The Bank shall not be liable for any consequences arising out of its failure to carry out the instructions due to inadequacy of funds and/or credit facilities.
ANTI MONEY OF SUFFICIENT FUNDS
The User undertakes not use the IBS for money laundering or violate any law related to the money laundering.
The Bank reserves the right to demand explanation from the User regarding any matter pertaining to the money laundering law of the country.
The User acknowledges that the software underlying the IBS as well as other Internet related software which are required for accessing IBS is the legal property of the respective vendors.
The permission granted to the Bank to access IBS will not convey any proprietary or ownership rights whatsoever.
The User shall not attempt to modify, translate, disassemble, decompile or reverse engineer the software underlying Internet Banking or create any derivative product based on the software.
These Terms and/or the operations in the Accounts of the User shall be governed by the Laws of Uganda.
The Bank may, in its absolute discretion, commence any legal action or proceedings arising out of these Terms and Condition in any other court, tribunal or other appropriate forum, and the User hereby submits to that jurisdiction.
Any provision of these Terms and Conditions which is prohibited or unenforceable in Uganda shall be ineffective to the extent of the prohibition or unenforceability but shall not invalidate the remaining provisions hereof.
CHANGES OF TERMS
The Bank shall have the absolute discretion to amend or supplement any of the Terms at any time. Such change to the Terms shall be communicated to the User. By using any new services as may be introduced by The Bank, the User shall be deemed to have accepted the changed Terms.
TERMINATION ON INTERNET BANKING
The User may request for termination of the Internet Banking any time by giving a written notice of at least 15 days to the Bank. The termination shall take effect on the completion of the fifteenth day.
BREACH OF TERMS AND CONDITIONS
User must compensate for any loss that occurs as a result of his/her breaking any term of these agreements.
In order to prevent unauthorized transaction through IBS, the User is advised to strictly note the following: The Customer ID and PIN should not be written anywhere. The User should make sure that no one is watching him/her when logging in, be sure to click ‘Log out’ on completion of transactions, not to leave his/ her computer unattended with the browser running and a valid Customer ID and PIN cached.
I hereby acknowledge that I have read and understand the aforesaid terms and conditions and risk involved in Internet Banking operation and agree to comply with them.