SPECIAL TERMS AND CONDITIONS FOR
PT BANK COMMONWEALTH
These Special Terms and Conditions for Digital Services of PT Bank Commonwealth ("STC") regulate the legal relationship between PT Bank Commonwealth (“the Bank”) and individuals / corporations who use the Bank's digital services. This STC shall constitute an integral and inseparable part of the General Terms and Conditions ("GTC").
- DEFINITIONS AND INTERPRETATION
- Apple App Store (iOS) means a digital distribution platform, developed and managed by Apple Inc.
- Play Store (Android) is a digital distribution platform, developed and managed by Google.
- Biometric is a technological method that uses unique physical aspects of human biology, such as fingerprints and facial recognition., which are used to detect and recognize a person's characteristics and to control access
- CommBank BizLoan means an Unsecured Loan Facilities owned by the Bank specific for partners’ seller / merchants who have collaborated with the Bank and intended capital for business expansion, and capital improvement.
- Call CommBank means the Call Center service of the Bank that can assist a Customer to obtain information about the Bank's products or services by telephone.
- CommBank e-Kiosk means a service available to individual customers to open a Savings Account and/or to complete an unsecured personal loan (“KTA”) and/or CommBank BizLoan product application.
- CommBank Mobile means the Bank’s digital mobile banking application that can be downloaded through Play Store and/or Apple App Store. CommBank Mobile has digital banking transaction features to open an Account without the Customer having to come directly to the Bank branch counter to present transaction instructions.
- CommBank SmartWealth means the Bank's digital application that can be downloaded through Play Store and Apple App Store, which has features to provide investment assets information as well as digital investment transaction features where the Customer does not need to come directly to the Bank branch counter to deliver transaction instructions.
- Direktorat Jendral Kependudukan Dan Pencatatan Sipil Kementerian Dalam Negeri Republik Indonesia (“Dukcapil”) means an institution inside Ministry of Home Affairs act as implementor in the field of People Population and Civil Registration.
- National Payment Gateway (“GPN”) means an initiative from Bank Indonesia to create an interoperability and interconnection between payment switching to process all domestic retail payments across all networks and payment providers.
- Law means the applicable laws and regulations of the Republic of Indonesia.
- GPN Debit Card means a debit card issued by a bank connected to the GPN network to be used for transactions throughout the ATM and POS networks in Indonesia.
- Physical Debit Card means a Debit Card in the form of a card that functions as an ATM card and can be used at ATM and/or EDC machines, and it has a 16 (sixteen) digit card number, a validity period and CVV number (security code) and can be used for e-commerce and/or merchant transactions.
- Mastercard Debit Card means a Debit Card issued by the Bank in cooperation with the MasterCard Network to be used for cash withdrawals and overseas shopping, and e-commerce.
- Virtual Debit Card means a Debit Card in a virtual form so that no physical card is issued and it has a 16 (sixteen) digit card number, a validity period and CVV number (security code) like a Physical Debit Card and can be used for e-commerce transactions.
- Unsecured Personal Loan (“KTA”) means the Bank’s unsecured personal loan product provided to individuals for personal needs such as tuition fees, medical expenses, marriage expenses, home renovations expenses, holiday expenses, and others.
- OneTime Password (OTP) seucrity code in the form of encrypted random number.
- Passcode means a 6 (six) digit number created by the Customer when activating CommBank Mobile and is used as a valid authentication to send instructions to the Bank.
- Prospectus means any written information relating to a public offering with the aim of getting other parties to buy securities.
- GoalSaver Account means a type of Savings Account that can be opened through CommBank Mobile, denominated in Rupiah and intended to help the Customers to allocate their savings to achieve the goal within the time target as specified by the Customers.
- Short Messages Services ("SMS") means messages sent to a Customer through a cellular telephone provider that is registered by the Customer.
- SMS Token means OneTime Password (OTP) sent via SMS.
- Token means security tool that provides trusted authentication method by generating random number (One Time Password) using encryption methodology. The Token consists of two types, namely hard token and SMS token.
- General Terms and Conditions ("GTC") means the general terms and conditions for opening an account issued by the Bank.
- Signature Specimen is a sample of signature of a Prospective Customer which is printed on the e-KTP card of a Prospective Customer.
- Selfie is is a self-portrait that is taken using a Prospective Customer’s mobile phone device to be used as a verification in the process of opening a Customer account through the CommBank Mobile application.
- Headings as referred to in these STC are for convenience only and are not intended to interpret the contents, purposes and objectives of the articles in these STC.
- Words or terms in the singular shall include the plural, and vice versa.
- The use of words or terms not listed in this STC will refer to the Bank’s GTC.
- TERMS AND CONDITIONS FOR DIGITAL SERVICES
- Internet Banking and Mobile Banking
- The Bank provides online digital services and facilities through internet sites and official applications in the name of the Bank in order that the Customer can carry out banking activities related to services, products, and information from the Bank.
- The Customer shall not use and/or give permission to other persons to use banking services and/or information for any activities that violate the Laws. The Customer is obliged to notify the Bank if there is a violation of the use.
- The Bank will provide to the Customer a Username, Password, Passcode,Token and/or SMS Token as well as One Time Password (“OTP”) code as a security code to execute transactions through Internet Banking and/or Mobile Banking.
- The Customer is obligated to maintain security, setting and confidentiality of Username, Password, Token and Internet Banking and/or Mobile Banking.
- The Bank has the right to charge fees related to the use of Internet Banking and/or Mobile Banking services, with reference to the Tariff and Fees applicable in the Bank.
- The Customer may submit an application to the Bank to obtain a token if the token is lost or fails to function (damaged or the battery has run out) in accordance with the provisions applicable in the Bank.
- Information on foreign exchange rates on the Internet Banking and/or Mobile Banking is an indicated exchange rate that may change at any time.
- Accounts that cannot be accessed through Internet Banking and/or Mobile Banking are Joint Accounts with an "AND" status or other accounts determined by the Bank at a later date.
- The Bank accepts and executes every instruction from the Customer as a valid instruction based on the use of the Username and Token response. The Customer is responsible for the authenticity or validity or authority for the use of the Username, Password, and Token.
- By conducting transactions through Internet Banking and/or Mobile Banking, the Customer acknowledges that all communications and instructions from the Customer received by the Bank will be treated as valid evidence which if needed can be used either inside or outside the court of law.
- The Customer shall be obligated to report unknown transaction as soon as possible (at the latest within 1x24 hours) through Call CommBank since the Customer receives SMS and/or email notification and/or is aware of any unknown transaction.
- In case of failure in transaction processing which is not caused by an error of the Bank, the fees that have been debited cannot be refunded.
- The Bank with its authority may block the token including but not limited due to reports of losses, customer requests and/or internal reasons of the Bank.
- The Bank with its authority may withdraw and/or replace the Customer's token in the event that there is a suspicion of counterfeiting, alteration, modification of the Token device belonging to the Bank outside the standards set down by the Bank.
- STC regarding Internet Banking and/or Mobile Banking are contained on the Bank's official website. The Customer is obligated to read and understand the information before using the Internet Banking and/or Mobile Banking services.
- CommBank e-Kiosk
- The Customer who meets the criteria as determined by the Bank, shall be entitled to open an initial savings account through the available CommBank e-Kiosk, by filling in or completing information and providing the required documents in accordance with the Bank's internal provisions.
- The Customer shall be obliged to have a local/ domestic cell-phone number for the purpose of sending an OTP code and a valid email address for verification purposes.
- The Customer shall be entitled to receive Banking services and facilities including but not limited to Internet Banking and/or Mobile Banking and Debit Cards after the account opening process is complete.
- The Bank has the right to block and/or close the Customer's account if at a later date there is a discrepancy between the data and/or information that is filled out by the Customer.
- CommBank Mobile
- Opening Account
- The Customer who meets the criteria as set down by the Bank, shall be entitled to open an initial Savings Account through the application available on Play Store (Android) or Apple App Store (iOS), by filling in information and sending it and/or documents that are required in accordance with the Bank's internal provisions.
- To be able to open an initial account through the CommBank Mobile application, a Customer must meet the following criteria:
- Has an electronic Identity Card (eKTP);
- Is at least aged 18 (eighteen) years old;
- Has a correspondence address in Indonesia;
- Has an active local/domestic mobile phone number for OTP delivery purposes and a valid email address which is required as a communication and notification media. A Prospective Customer may only register 1 (one) cellular phone number and email address to be used in CommBank Mobile.
- A Prospective Customer shall be required to fill in all the information and meet all requirements needed to open an Account through the CommBank Mobile application. A Prospective Customer agrees that by checking the column 'I agree to the Terms and Conditions, the Customer statement, and the TIN statement' and clicking the "Continue" button, you have agreed to all of these STCs as if you were providing a written signature.
- The Prospective Customers agrees that by clicking the "Continue" button on the confirmation screen of the e-KTP image capture, the Prospective Customer has agreed that the signature specimen on the e-KTP will be used as a signature specimen at the Bank.
- Every Prospective Customer who wishes to open an Account through CommBank Mobile application must be obliged to go through the Selfie capture process and verification stage via a video call with a Bank staff.
- The Bank has the right to block and/or close a Customer's Account if at a later there are any discrepancy between the data and/or information that is filled out by the Customer.
- A Prospective Customer gives approval and power of attorney to the Bank to inform the prospective customer's Customer Information File (“CIF”) number to the Directorate General of Population and Civil Registry, Ministry of Home Affairs of the Republic of Indonesia (“Dukcapil”).
- Opening Account
- Access and Activation of CommBank Mobile
- To use CommBank Mobile services, the Customer shall be obliged to activate the service, and the service may only be activated on 1 (one) mobile device.
- The CommBank Mobile services can be used by the Customer who already have a Savings Account with a type of savings that is included in the criteria for using the CommBank Mobile application and is an active individual Savings Account in Rupiah currency and has an active Debit Card.
- After the activation of CommBank Mobile is successfully processed, the Customer shall be obliged to create a Passcode.
- Customer that has been registered as CommBank Mobile user is able to activate Biometric login feature in CommBank Mobile. To activate the feature, Customer has to input a valid Password and ensure the suitability of Biometric data saved in the Customer’s device. Once the feature is activated, Customer can login using their biometric.
- The Bank based on its authority may block the account and/or access to activate the service including but not limited if requested by the Customer and/or internal reasons of the Bank.
- The Customer/ Prospective Customer shall be fully responsible for all consequences arising from misuse of data that is informed during the activation CommBank Mobile services.
- Bank and CommBank Mobile do not store Customer’s Biometric data. By activating the Biometric login feature in CommBank Mobile, Customer has given power of attorney for the Bank to conduct login verification process using all of Customer’s Biometric data saved in Customer’s device.
- Bank is not responsible if the Customer unable to use Biometric Login feature in CommBank Mobile that is caused by impairment, performance drop, or malfunction in the Biometric capabilities of the Customer's device.
- The Customer/ Prospective Customer agree that by putting a check mark in the column "You agree to the Bank's services for CommBank Mobile" and clicking the "Start Now" button, they have agreed to all of these STCs as if a written signature have been provided.
- Reception and Activation of Debit Card Facilities.
- The Customer shall be entitled to receive a Virtual Debit Card which is automatically activated after the Account opening is complete.
- The Customer may apply for Mastercard Physical Debit Card printing and/or National Payment Gateway Card(“GPN”) through CommBank Mobile or the physical card owned has been terminated by the Bank. This submission process will be executed if the customer successfully performs the authentication process specified in the CommBank Mobile application.
- Replacement of Physical Debit Card due to damaged, lost, swallowed or expired can be done through the Bank branch counter.
- The Mastercard Physical Debit Card can be used for e-commerce transactions 1 (one) Business Day after the first transaction at the Bank’s ATM, Commonwealth Bank Australia Network, Joint network and Prima networks throughout Indonesia or EDC machines at the merchants.
- The Mastercard Virtual Debit Card can be used for e-Commerce transactions on 1x24 hours after the Mastercard Virtual Debit Card appears in the CommBank Mobile application.
- Other provisions with regard to the Mastercard Physical Debit Card and GPN Cards, including but not limited to transaction limit, validity period and other card arrangements shall comply with the ATM terms and conditions and other provisions provided for by the Bank.
- The Customer can activate the Debit Card through the CommBank Mobile application. If the Customer fails to activate the Debit Card before the end of the maximum card activation time limit, then the card activation process can only be processed through the Bank’s branch or through the Bank’s ATM.
- The Customer can change their Debit Card PIN through the CommBank Mobile application and/or through ATM Bank.
- Transactions through CommBank Mobile
- After Customer login to CommBank Mobile using Biometric/Username & Password, Customer can perform transactions and input Passcode and/or Password and/or OTP for authorization.
- The Bank shall accept and execute any instruction from the Customer as valid based on the verification of the Customer’s Username, Password/Biometric and SMS of OTP or Passcode. The Customer shall be responsible for the authenticity or validity or authority of their use.
- The Bank has the right not to execute instructions from the Customer for any reason whatsoever including but not limited if the Customer’s balance with the Bank is insufficient and/or because it is contrary to the GTC and STC and/or prevailing laws and regulations.
- The Customer hereby represents and warrants the accuracy and completeness of the instructions made/executed and the Customer understands and acknowledges as well as agrees to all responsibilities and risks for any consequence including but not limited to losses suffered by the Customer and/or other third parties arising from incompleteness, lack of clarity of data and/or inaccuracy of instructions from the Customer
- The Bank is not responsible for any loss arising from the use of the application that is not in accordance with the instructions in CommBank Mobile which is informed by the Bank to the Customer, and any loss arising from the Customer's errors in making transactions using CommBank Mobile.
- The Customer shall be obliged to ensure that the Username, Password, SMS of OTP, biometric data saved in Customers’ devices or Passcode used for the application are not duplicated, shared with others and misused in any form whatsoever by unauthorized persons where the Bank is not obliged to verify their authenticities used by the Customer in making transactions
- The Customer hereby declares that the Biometric data used by the Customer as a login method on CommBank Mobile is the Customer’s biometric data.
- Customer is accountable for the security of Customer’s Biometric data saved in Customer’s device. All risks and losses caused by the abuse of Biometric data in the Customer’s device is fully the responsibility of the Customer.
- The Customer acknowledges the Bank's ownership over the copyrights and other intellectual property rights contained in and inherent to CommBank Mobile application.
- The Customer does not make any change, modification, misuse, or take any action that are against the Law in any way whatsoever
- The Customer shall be fully responsible for all costs, damages, losses, liabilities, or any direct or indirect expense incurred as a result of violations by the Customer of the Customer's obligations with regard to the CommBank Mobile service.
- The Bank has the right to debit service fees including but not limited to monthly administrative and/or transfer and/or other certain transactions through CommBank Mobile as determined by the Bank.
- In the case of transaction failure that is not caused by the Bank’s error/ negligence, the debited fees cannot be refunded.
- The Bank, at any time, has the right to determine amount limit (minimum and maximum) per transaction and per day (maximum amount per day). Any changes to the transaction limit will be notified to the Customer through communication media appropriately considered by the Bank.
- The Customer shall be obligated to report an unknown transaction as soon as possible (at the latest within 1x24 hours) through Call CommBank since the Customer received SMS and/or email notification and/or is aware of any unknown transaction.
- GoalSaver Accounts Opening
- GoalSaver account can be opened by the Customers through the CommBank Mobile application.
- By making a goal in the application, a Customer agrees to be debited periodically according to the date and nominal amount as specified by the Customer in the goal.
- GoalSaver Closure
The GoalSaver Account will be automatically closed in the event that:
- it has reached the maturity set by the Customer
- it has been closed by the Customer through the application.
- Initial Savings Account Closure
- Initial Savings Account can be closed upon request for closure from the Customer who holds the Account to the Bank for some reason and to be performed in Bank branch.
- Initial Savings Account can be closed based on Bank’s authority & decision with reference to Account Closure part of General Terms and Conditions ("GTC").
- Rewards / Gift
- The Customer can receive rewards from the Bank in accordance with the chosen Bank program.
- Each program has special provisions including but not limited to the validity period, the types of prizes / rewards, how to get, how to take / redeem, and so on.
- If the Rewards is in the form of after tax and such taxes have been paid by the Bank, then. the Customer shall be obliged to disclose the increase in income from the reward acquisition.
- CommBank SmartWealth
- General information
CommBank SmartWealth application can be downloaded via the Play Store (Android) and the Apple App Store (iOS) which can be used to monitor the development of investment portfolios and make investment transactions. To use the transaction function you are required to register further and complete the terms and conditions required by the Bank. To continue using the CommBank SmartWealth application, the Customer agrees to the following matters:
- The Customer understands the functions of the CommBank SmartWealth application and the characteristics of CommBank SmartWealth application as well as the risks and consequences of using it, including operational risks and losses that may arise from using the CommBank SmartWealth application. Therefore, the Customer shall be responsible for all risks and consequences that may arise later.
- The Customer understands that the CommBank SmartWealth application also depends on the application and/or media and/or other infrastructure facilities owned by the parties other than the Bank, including but not limited to the network / signal from the telephone operator and/or cellular telephone unit used by the Customer; Therefore, the Customer understands the risk of problems arising from applications and/or media and/or other infrastructure owned by parties other than the Bank.
- The Customer hereby declares that the Customer agrees for the Bank to use Customer’s data and/or information provided in CommBank SmartWealth application; and authorize the Bank to provide the Customer’s data and/or information to third parties which cooperate with the Bank for the purposes of CommBank SmartWealth services. The Customer also hereby represents and warrants that the Customer understands of all the risks in giving this statement.
- The Customers agrees to comply with applicable Laws including but not limited to the Laws relating to financial crimes, corruption or money laundering.
- Application Access
In order to be registered as a CommBank SmartWealth application user, Customer is required to have an active mobile phone number and e-mail address registered in the Bank's system.
Customer that has been registered as CommBank SmartWealth user is able to activate Biometric login feature in CommBank SmartWealth. To activate the feature, Customer has to input a valid passcode and ensure the suitability of Biometric data saved in the Customer’s device. Once the feature is activated, Customer can login using their Biometric.
Bank and CommBank SmartWealth do not store Customer’s Biometric data. By activating the Biometric login feature in CommBank SmartWealth, Customer has given power of attorney for the Bank to conduct login verification process using all of Customer’s Biometric data saved in Customer’s device.
Bank is not responsible if the Customer is unable to use Biometric Login feature in CommBank SmartWealth that is caused by impairment, performance drop, or malfunction in the Biometric capabilities of the Customer's device.
The Customer shall be obliged to ensure that the Passcode, SMS of OTP, Biometric data saved in Customers’ devices or Passcode used for the application are not duplicated, shared with others and misused in any form whatsoever by unauthorized persons where the Bank is not obliged to verify the passcode authenticities used by the Customer in access the application.
The Customer shall be obliged to ensure that the Biometric data used by the Customer as a login method on CommBank SmartWealth is the Customer’s Biometric data.
- Transaction in CommBank SmartWealth
After the Customer logs in at CommBank SmartWealth using Biometric/Passcode, the Customer can make transactions by entering SMS OTP as transaction authorization.
The Bank receives and executes every instruction from the Customer as a valid instruction based on verification, Passcode/Biometric and SMS OTP. The Customer is responsible for the authenticity or validity or authority of the use of the Passcode and SMS OTP.
The Bank has the right not to process the instructions from the Customer for any reason including but not limited if the Customer's balance at the Bank is insufficient and/or because it is contrary to this GTC and STC and/or the applicable law.
The Customer hereby declares and guarantees the accuracy and completeness of the transaction instructions carried out, and the Customer understands, knows and agrees to all obligation and risks for any consequences including but not limited to losses suffered by the Customer and/or other third parties who arise due to incompleteness, unclear data and/or inaccurate instructions from the Customer.
The Customer must understand that the currency of the Fund Source Account and the destination account for crediting the proceeds from the sale of investment products must be the same as the currency of the investment product purchased or resold.
Customer must understand, read and agree to all provisions related to Investment transactions, before making transactions through CommBank SmartWealth.
All transactions that have been instructed by the Customer through CommBank SmartWealth cannot be canceled for any reason. However, for periodic purchase transactions of mutual funds, the Customer can stop the transaction through CommBank SmartWealth or to the nearest branch office or through other channels determined by the Bank.
For the purchase of the Mutual Fund Participation Unit in the Investor Transaction Account, it is available no later than the T-1 exchange day from the periodic purchase date. If the specified date falls on an exchange holiday, the purchase will be made by the Bank on the previous trading day. If on T-1 from that date the Investor Transaction Account balance is insufficient, the Bank will not make transactions, so that for that date there will be no periodic purchases.
The Bank is not responsible for any losses arising from the use of the CommBank SmartWealth application that is not in accordance with the CommBank SmartWealth instructions informed by the Bank to the Customer and losses arising from the Customer's error in conducting transactions using CommBank SmartWealth.
The Customer is required to report the unknown transaction as soon as possible (at least within 1x24 hours) via Call CommBank since the Customer receives the SMS and/or email notification and/or becomes aware of the unknown transaction.
The Bank can monitor and record all or part of the Customers' communication with the Bank through the CommBank SmartWealth application with the aim of quality control, customer service, security, compliance with applicable Laws, and other legitimate purposes, in which the Customers hereby agree to allow the Bank to carry out such recording.
- No guarantees
All information is provided "as is" for informational purposes only, not intended for the purposes of investment decision-making special advice. The Customers are encouraged to read product documents such as the latest Prospectus and get professional and expert advice in legal, financial, tax and other professional fields before making investment decisions. This CommBank SmartWealth application is not a facility provided by the Bank to promise financial benefits to the CommBank SmartWealth application users and only functions to provide information to the CommBank SmartWealth application users. Neither the CommBank SmartWealth application nor the independent data providers are responsible for any misinformation, incompleteness or delays, or for any action taken relying on the information contained herein. Investment products, including Mutual Funds and Government Securities that are traded on the Primary or Secondary Markets (“Products”) are capital market products and are not products of PT Bank Commonwealth (“Banks”) so that the products are not included in the scope of objects of the Deposit Insurance Corporation (”LPS") or other Government guarantees and the Bank is not responsible for the risks that may arise including but not limited to the risk of loss from Products purchased by Customers.
- Portfolio Model Results and Performance
The performance data and results shown are for information purposes only. Although the Bank has attempted to match the demonstrated performance results of the portfolio model from time to time, these results are entirely the results of the model. The actual performance of individual portfolios will vary depending on the timing of the initial investment, the amount and frequency of contributions, changes in allocations over the period and taxes. Moreover, the past performance of the portfolio model cannot be an indication of future results. The portfolio model consists of mutual funds. It is possible that a portfolio model will perform better or worse than a mix of comparable indexes. These differences may be due to, but not limited to, balancing portfolios, costs and impacts on market conditions. Therefore, the Customer hereby understands and is responsible for any risk of loss that may arise from the investment(s) made.
- Performance Calculations
The performance results are calculated using the Weighted Average Rate Of Return methodology.
- Internet Banking and Mobile Banking
- This STC and all its legal consequences are subject to the applicable Law.
- This STC shall constitute an integral and inseparable part of the Bank's GTC. Everything that is not regulated in this STC will still refer to and bind to the GTC.
- The Customer hereby declares that the Customer has read, understood, and agreed to this STC which can also be accessed through www.commbank.co.id. If there are any additions, changes and/or updates to this STC, the Bank will inform the Customer in advance through the website, electronic mail (email) or other communication media no later than 30 (thirty) business days before the addition, change, and/or renewal as intended shall be effective.
- The termination of digital application services will occur if:
- The Customer closes all Accounts that can be used in CommBank SmartWealth or CommBank Mobile or Internet Banking and Mobile Banking
- The Bank decommissioned the Digital application (CommBank CommBank SmartWealth or CommBank Mobile or Internet Banking or Mobile Banking application) with prior notification in accordance with the applicable regulation.