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 and individuals/corporations who use PT Bank Commonwealth's digital services. This STC shall constitute an integral and inseparable part of the General Terms and Conditions ("GTC").
- DEFINITION AND INTERPRETATION
- App Store (iOS) means a digital distribution platform, developed and managed by Apple Inc.
- 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 Call Center service facility from the Bank that can assist 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 unsecured personal loan (KTA) and BizLoan products application.
- CommBank Mobile means the Bank’s digital banking application that can be downloaded through Google Play Store dan Apple App store that has digital banking transaction features to open an Account and forward transaction instructions into the Bank’s system without the Customer having to come directly to the counter to present transaction instructions.
- CommBank SmartWealth means the Bank's digital banking application that can be downloaded through Google Play Store and Apple 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 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 (NPG) 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 law applicable to this GTC, namely the 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 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 an unsecured personal loan product from Commonwealth Bank 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 a 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.
- Play Store (Android) is a digital distribution platform, developed and managed by Google.
- Prospectus means any written information relating to a public offering with the aim of getting other parties to buy securities.
- Goal Saver 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.
- 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 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 Username, Password, 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 must maintain security, setting and confidentiality of Username, Password, Token and Internet Banking and/or Mobile Banking
- The Bank provides online services through the internet site and official applications on behalf of the Bank so that the Customer can carry out banking activities related to services, products, and information from the Bank.
- The Customer may not use and/or give permission to others to use banking services and/or information for activities that violate the law. The Customer shall be obliged to notify the Bank if he/she becomes aware of any violation of such use.
- 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 evidences 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 an 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 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 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:
- having an electronic Identity Card (eKTP);
- at least aged 18 (eighteen) years;
- having a correspondence address in Indonesia;
- having an active local/domestic mobile phone number for OTP delivery purposes and a valid email address which is required as a communi-cation 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 requirements required 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 giving a written signature.
- Every Prospective Customer who wishes to open an Account through CommBank Mobile application must be obliged to go through the 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 would be a 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”).
- Access and Activation of CommBank Mobile
- To use CommBank Mobile service, the Customer shall be obliged to activate the service, and 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.
- The Bank based on its authority may block the account and/or access to activate the service including but not limited if there are notices of the Customer’s requests 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.
- 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 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 (“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 counter or Call CommBank.
- 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 NPG 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 reaches the maximum card activation trial limit, then the card activation process can only be processed through Bank CommonWealth branch or through ATM Bank.
- The Customer can change their Debit Card PIN through CommBank Mobile application and/or through ATM Bank.
- Transactions through CommBank Mobile
- The Customer can make transactions through CommBank Mobile by filling in or completing the instruction data and OTP or Passcode to authorize the transactions.
- The Bank shall accept and execute any instruction from the Customer as a valid one based on the use of Username, Password and SMS of OTP or Passcode. The Customer shall be responsible for the authenticity or validity or authority of the using of them.
- 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 or Passcode applied 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 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 against the whole CommBank Mobile application.
- 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 this 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). Change to the transaction limit will be notified to the Customer through communication media appropriately considered by the Bank.
- Goal Saver Opening
- Goal Saver 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.
- Goal Saver Closure
- The Goal Saver 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.
- The Goal Saver Account will be automatically closed in the event that:
- 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 CommonWealth 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.
- Opening Account
- CommBank SmartWealth
- General information
CommBank SmartWealth application can be downloaded via the Play Store (Android) and Apple 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 possessed 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 SamrtWealth 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 agree 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 access the CommBank SmartWealth application, the Customers are required to have an active mobile phone number and e-mail address registered in the Bank's system.
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 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.
- 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 responsible for any risk of loss that may arise from the investment made.
- Performance Calculations
The performance results are calculated using the weighted average rate of return methodology.
- General information
- 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 banking application services :
The service will be terminated 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 banking application (CommBank CommBank SmartWealth or CommBank Mobile or Internet Banking or Mobile Banking application) with prior notification in accordance with Bank’s regulation.