1.7     All forms, documents or receipts signed by the account holder and any electronic data or images of any form, document, instruction or other electronic document confirmed, validated and/or effected by the account holder in relation to any transaction or matter under the Current Account (‘the above transactions’) and the Bank’s books and/or records evidencing the above transactions are deemed as final, accurate, conclusive and binding on the account holder unless there was manifest error on the Bank’s part.

1.7     All forms, documents or receipts signed by the account holder and any electronic data or images of any form, document, instruction or other electronic document confirmed, validated and/or effected by the account holder in relation to any transaction or matter under the Current Account (‘the above transactions’) and the Bank’s books and/or records evidencing the above transactions are deemed as final, accurate, conclusive and binding on the account holder unless there was obvious and/or manifest error on the Bank’s part.

5.6     If the Current Account is overdrawn where there is no overdraft agreed to or it exceeds any pre-agreed overdraft limit, the Bank will charge the prevailing interest on the amount overdrawn and the fee for each cheque processed. The account holder must pay on demand any overdraft together with such interest and fees charged.

7.3     The account holder agrees to indemnify the Bank from and against all losses, claims, actions, proceedings, demands, damages, costs and expenses which may at any time or times be incurred or sustained by the Bank arising out of or in connection with the issue of and/or the Bank complying with or exercising its rights in relation to any stop payment instruction.

7.3     The account holder agrees to indemnify the Bank from and against all losses, claims, actions, proceedings, demands, damages, costs and expenses which may at any time or times be incurred or sustained by the Bank arising out of or in connection with the issue of and/or the Bank complying with or exercising its rights in relation to any stop payment instruction unless the same is caused directly by the Bank’s fraud, negligence or willful breach.

8            BANKING CHARGES

The prevailing fees and charges imposed are made available at the Bank’s branches and on its website. If the fees and charges are changed, the account holder will be given at least twenty-one (21) calendar days’ prior notice before the effective date of change. Notification will be given in writing or electronically or via advertisement displayed at the Bank’s banking halls and website. All fees and charges charged may be debited from any account of the account holder held at the Bank.

8            BANKING CHARGES

The prevailing fees and charges imposed are made available at the Bank’s branches and on its website. Any revision to the fees and charges will be notified by the Bank in accordance with clause 21 below. All fees and charges charged may be debited from any account of the account holder held at the Bank.

10.4     The Bank also reserves the right to close any Current Account at the discretion of the Bank by giving adequate notice to the account holder.

10.4     The Bank also reserves the right to close any Current Account at its reasonable discretion by giving the account holder at least twenty-one (21) days prior written notice stating the reason for the closure, to the extent permitted by law, order, regulation or sanctions.

11.2     For any account classified as dormant, no credit and/or debit transaction (other than credit and/or debit transaction conducted by the Bank for the purposes of crediting interest into the account or debiting for fees and/or charges payable by account holder to the Bank) shall be allowed on the account until the account is reactivated as per Clause 11.3 below.

11.2     For any account classified as dormant, credit and/or debit transaction on the account may be restricted until the account is reactivated as per Clause 11.3 below.

14.3     The Bank is irrevocably allowed to debit the Current Account by giving seven (7) days prior notice to the account holder for the purpose of making any payment, repayment and/or reimbursement to the Bank and/or CIMB Islamic Bank Berhad and for making payment and/or repayment of the relevant amount to third parties in the following situations:

(i) fees, costs, expenses, charges payable howsoever incurred and/or charged for any other account(s), banking products, services or facilities provided by the Bank and/or CIMB Islamic Bank Berhad to the account holder;

(ii) taxes, stamp duty and any other levies or charges imposed by the government and payable by the account holder for the Current Account and/or any other account(s), banking products, services or facilities provided by the Bank and/or CIMB Islamic Bank Berhad to or for the benefit of the account holder;

(iii) loss and/or damage howsoever suffered or incurred by the Bank in carrying out any requests and instructions of the account holder and/or in providing the services in relation to the Current Account as provided in these Terms and Conditions;

(iv) amounts owing to the Bank arising from any indemnities and/or guarantees given by the account holder in favour of the Bank for the provision of any services and facilities by the Bank to the account holder pursuant to these Terms and Conditions;

(v) payments made, transferred or credited into the Current Account due to the Bank’s error and/or due to any claims by any third parties that the relevant amount had been mistakenly paid by the third party into the Current Account and/or due to any claim by the third party that he or she had been deceived, defrauded or misled into making the payment into the Current Account and/or due to any of the Bank’s operational and/or systems errors or malfunction and/or any other causes which are beyond the Bank’s reasonable control;

(vi) proceeds of cheques and/or money instruments which have been credited by the Bank into the Current Account earlier if these cheques and/or money instruments are subsequently dishonoured;

(vii) sums credited into the Current Account due to suspected tampered instruments / instructions / fraudulent transactions, regardless of whether the account holder is involved;

(viii) payments made from the Current Account due to requests from Bank Negara Malaysia and/or the Police and/or any other authorities pursuant to any applicable laws;

(ix) legal fees, disbursements, expenses and costs (on a solicitor and client basis and full indemnity basis) incurred by the Bank due to any:

(a) recovery of indebtedness due under any facilities or loans granted by the Bank to the account holder;

(b) garnishee proceedings filed and served on the Bank and where the Bank is named as a garnishee in respect of the Current Account and/or any other accounts of the account holder maintained with the Bank;

(c) interpleader or any other court proceedings filed by the Bank in respect of the Current Account and/or any other accounts of the account holder maintained with the Bank;

(d) injunction or any other court proceedings initiated against the Current Account and/or any other accounts of the account holder maintained with the Bank, whether or not the Bank is named as a party; and

(e) legal proceedings filed against the Bank by the account holder or any other party involving the Current Account and/or any other accounts of the account holder maintained with the Bank if the Bank is successful in its defense of the said legal proceedings; and

(x) advance payments paid to the account holder and/or any third party under any arrangement entered into between the Bank and the account holder and/or under any facility granted by the Bank to the account holder.

14.3     The Bank shall have the irrevocable right to debit the Current Account by (a) giving seven (7) days prior notice to the account holder; or (b) immediately upon notice to the account holder, where the Bank deems it necessary to act promptly, for the purpose of making any payment, repayment and/or reimbursement to the Bank and/or CIMB Islamic Bank Berhad and for making payment and/or repayment of the relevant amount to third parties in the following situations:

(i) fees, costs, expenses, charges payable howsoever incurred and/or charged for any other account(s), banking products, services or facilities provided by the Bank and/or CIMB Islamic Bank Berhad to the account holder;

(ii) taxes, stamp duty and any other levies or charges imposed by the government and payable by the account holder for the Current Account and/or any other account(s), banking products, services or facilities provided by the Bank and/or CIMB Islamic Bank Berhad to or for the benefit of the account holder;

(iii) loss and/or damage howsoever suffered or incurred by the Bank in carrying out any requests and instructions of the account holder and/or in providing the services in relation to the Current Account as provided in these Terms and Conditions;

(iv) amounts owing to the Bank arising from any indemnities and/or guarantees given by the account holder in favour of the Bank for the provision of any services and facilities by the Bank to the account holder pursuant to these Terms and Conditions;

(v) payments made, transferred or credited into the Current Account due to the Bank’s error and/or due to any claims by any third parties that the relevant amount had been mistakenly paid by the third party into the Current Account and/or due to any claim by the third party that he or she had been deceived, defrauded or misled into making the payment into the Current Account and/or due to any of the Bank’s operational and/or systems errors or malfunction and/or any other causes which are beyond the Bank’s reasonable control;

(vi) proceeds of cheques and/or money instruments which have been credited by the Bank into the Current Account earlier if these cheques and/or money instruments are subsequently dishonoured;

(vii) sums credited into the Current Account due to suspected tampered instruments / instructions / fraudulent transactions, regardless of whether the account holder is involved;

(viii) payments made from the Current Account due to requests from Bank Negara Malaysia and/or the Police and/or any other authorities pursuant to any applicable laws;

(ix) legal fees, disbursements, expenses and costs (on a solicitor and client basis and full indemnity basis) incurred by the Bank due to any:

(a) recovery of indebtedness due under any facilities or loans granted by the Bank to the account holder;

(b) garnishee proceedings filed and served on the Bank and where the Bank is named as a garnishee in respect of the Current Account and/or any other accounts of the account holder maintained with the Bank;

(c) interpleader or any other court proceedings filed by the Bank in respect of the Current Account and/or any other accounts of the account holder maintained with the Bank;

(d) injunction or any other court proceedings initiated against the Current Account and/or any other accounts of the account holder maintained with the Bank, whether or not the Bank is named as a party; and

(e) legal proceedings filed against the Bank by the account holder or any other party involving the Current Account and/or any other accounts of the account holder maintained with the Bank if the Bank is successful in its defense of the said legal proceedings; and

(x) advance payments paid to the account holder and/or any third party under any arrangement entered into between the Bank and the account holder and/or under any facility granted by the Bank to the account holder.

14.4     In addition to the right to debit under Clause 14.3, in respect of any transactions made through channels operated by Payments Network Malaysia Sdn Bhd (“Paynet”) involving any allegations, claims or disputes in connection with any erroneous, wrongful, mistaken, fraudulent and/or unauthorised transaction, the Bank is authorised to debit the Current Account and make refunds in accordance with Paynet's prevailing guidelines and terms (“Paynet Rules”). Upon receiving notice of such allegations, claims or disputes, the Bank will retain, withhold or earmark the disputed amount from the Current Account without giving prior notice to the account holder.

14.5     Pending the debit of the Current Account pursuant to Clause 14.3 and Clause 14.4, the Bank shall have the right to freeze all monies in the Current Account.

14.5     Pending the debit of the Current Account pursuant to Clause 14.3 and Clause 14.4, the Bank shall have the right to retain, withhold, earmark or to freeze monies in the Current Account up to the value of the disputed amount in such manner determined by the Bank at its reasonable discretion. The Bank will notify the account holder in writing of such restrictions.

14.6     The account holder further agrees that all funds, monies, securities and other whatsoever valuables and properties belonging to the account holder and deposited with the Bank under the Current Account and/or any other accounts of the account holder ('the properties') shall automatically become security to the Bank and the Bank shall be entitled to (i) set-off and/or debit any monies forming the properties or proceeds arising from the sale of the properties for the purpose of effecting payment of any liabilities incurred by the account holder to the Bank in these Terms and Conditions (ii) retain or withhold the properties until the account holder's liabilities to the Bank are fully settled.

14.6     Subject to Clause 14.7, the Bank shall not be liable to the account holder for any claim, loss, damages, penalty, charge, cost and expense suffered or incurred by the account holder in relation to the Bank’s exercise of its rights under Clause 14.3, Clause 14.4 and Clause 14.5 and/or in complying with the Paynet Rules except that the Bank will be liable for direct loss caused by its negligence, willful default or fraud.

14.7     Notwithstanding Clause 14.3, the Bank shall have the irrevocable right to immediately debit the Current Account without notice in order to comply with any laws, court orders, regulations, sanctions and/or enactments or directions, including that issued by a regulatory or enforcement authority, where immediate action by the Bank is required and/or the provision of notice is prohibited under such legal or regulatory requirements.

14.8     The account holder further agrees that all funds, monies, securities and other whatsoever valuables and properties belonging to the account holder and deposited with the Bank under the Current Account and/or any other accounts of the account holder ('the properties') shall automatically become security to the Bank and the Bank shall be entitled to (i) set-off and/or debit any monies forming the properties or proceeds arising from the sale of the properties for the purpose of effecting payment of any liabilities incurred by the account holder to the Bank in these Terms and Conditions (ii) retain or withhold the properties until the account holder's liabilities to the Bank are fully settled.

15.1     The Bank’s total liability to the account holder shall only be limited to actual direct loss suffered by the account holder, provided that the claim is supported by documentary evidence submitted by the account holder to the Bank. In no event will the Bank be liable to the account holder for any claim, loss, damages, penalty, charges, cost and expense suffered or incurred by the account holder in relation to the Bank complying with the Paynet Rules. The Bank will also not be liable for any exemplary or punitive damages, indirect, incidental, consequential and/or secondary loss or damage, including but not limited to any loss of profit or income or current, expectation loss, reliance loss, pure economic loss or similar loss or damage that the account holder may suffer by reason of any act or omission of the Bank, even if the Bank had been advised of the possibility of such loss or damage in advance.

15.1     The Bank’s total liability to the account holder shall only be limited to actual direct loss suffered by the account holder, provided that the claim is supported by documentary evidence submitted by the account holder to the Bank. In no event will the Bank be liable to the account holder for any claim, loss, damages, penalty, charges, cost and expense suffered or incurred by the account holder in relation to the Bank complying with the Paynet Rules. The Bank will also not be liable for any exemplary or punitive damages, indirect, incidental, consequential and/or secondary loss or damage, including but not limited to any loss of profit or income or current, expectation loss, reliance loss, pure economic loss or similar loss or damage that the account holder may suffer by reason of any act or omission of the Bank, even if the Bank had been advised of the possibility of such loss or damage in advance. Nothing in this Clause shall exclude the Bank's liability for direct financial loss caused by the Bank's own negligence or willful misconduct.

17     GOVERNING LAW

These Terms and Conditions are subject to and construed in accordance with the laws of Malaysia and the rules, regulations and guidelines of Bank Negara Malaysia, Paynet and other relevant regulatory bodies to which the Bank is subject.

17     GOVERNING LAW

17.1     These Terms and Conditions are subject to and construed in accordance with the laws of Malaysia and the rules, regulations and guidelines of Bank Negara Malaysia, Paynet and other relevant regulatory bodies to which the Bank is subject.

17.2     The availability and account holder’s operation of the Current Account and related services is conditional upon there being no breach of any prevailing laws, guidelines or regulations that may be imposed by any regulatory authority having jurisdiction over the Bank, including but are not limited to:

(i)        Financial Services Act 2013;

(ii)      Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001; and

(iii)     Malaysian Anti-Corruption Commission Act 2009.

21     RESERVATION OF RIGHTS

The Bank may vary (whether by adding to, deleting from or otherwise amending) (“Amendment”) any of these Terms and Conditions by giving the account holder at least twenty-one (21) calendar days’ notice before the Amendment is effective, provided that such Amendment is made for (a) complying with any applicable laws, court order, regulations sanctions and/or enactments or direction of a regulatory or enforcement authority; (b) facilitating changes in the product features, business operations, processes or systems requirements of the Bank and/or its Group Companies that affect all customers of similar products; or (c) such other reasons the Bank may specify in the notice. The notice of the Amendment may be given by: (i) notice of the Amendment being displayed at the Bank’s premises and website generally and where detailed provisions regarding the Amendment may be provided to the account holder upon request or the notice may itself contain details of the Amendment; or (ii) the notice being sent by the Bank to the account holder’s last known address; or (iii) the notice being advertised in one newspaper of the Bank’s choice; or (iv) the notice being sent by electronic mail or by any other means of notification which the Bank may select and the Amendment shall take effect and be binding from the date specified in the notification. The account holder may close the account holder’s Current Account in accordance with Clause 10.1 if they do not agree to the Amendment.

21     VARIATION

The Bank may vary (whether by adding to, deleting from or otherwise amending) (“Amendment”) any of these Terms and Conditions  by giving the account holder at least twenty-one (21) calendar days’ notice before the Amendment is effective, provided that such Amendment is made for (a) complying with any applicable laws, court order, regulations sanctions and/or enactments or direction of a regulatory or enforcement authority; (b) facilitating changes in the product features, business operations, processes or systems requirements of the Bank and/or its Group Companies that affect all customers of similar products; or (c) such other reasons the Bank may specify in the notice. The notice of the Amendment may be given by: (i) the notice being sent by the Bank directly to the account holder via its last known address and/or email and/or SMS; (ii) notice of the Amendment being displayed at the Bank’s branches,  banking halls and on the Bank’s website generally and where detailed provisions regarding the Amendment may be provided to the account holder upon request or the notice may itself contain details of the Amendment; or (iii) the notice being advertised in one newspaper of the Bank’s choice; or (iv) the notice being sent by electronic mail or SMS or by any other means of notification which the Bank may select and the Amendment shall take effect and be binding from the date specified in the notification. The account holder may close the account holder’s Current Account in accordance with Clause 10.1 without any closure fee or penalty if they do not agree to the Amendment.

24     MISCELLANEOUS

The account holder may make any complaint relating to the Current Account, with any of the Bank’s branch. If the account holder is not satisfied with the explanation or solution provided by the branch, the account holder may contact the Bank’s Customer Resolution Department at the following address, telephone number and e-mail address (or such other address, telephone number and e-mail address which the Bank notified to the account holder): Customer Resolution Unit (CRU). P.O. Box 10338, GPO Kuala Lumpur, 50710 Wilayah Persekutuan Tel: +603-6204 7788 / e-mail: contactus@cimb.com.

24          FOREIGN EXCHANGE POLICY

24.1       The account holder has an obligation to ensure that all inward and outward transactions to and from the Current Account, and all transactions performed via the Current Account, comply with the Foreign Exchange Policy Notices (“FEP Notices”) issued by Bank Negara Malaysia (“BNM”) pursuant to the Financial Services Act 2013 and Islamic Financial Services Act 2013, as amended or revised from time to time, and made available at BNM’s website at http://www.bnm.gov.my/fep.

24.2       The FEP Notices set out BNM’s approvals for transactions which would otherwise be prohibited, and inter alia the applicable requirements, restrictions, conditions, directions, limits and disclosure obligations. Transactions regulated under the FEP Notices include, without limitation, dealings in currency, borrowing, lending and guarantee, investment in foreign currency assets (onshore and offshore), payment/ receipt and remittance and export of goods. A summary of the key FEP Notices requirements are available at the Bank’s following website address: https://www.cimb.com.my/content/dam/cimb/personal/documents/help-support/fen-faqs.pdf and, in the event of any inconsistency, the requirements set out in the FEP Notices published on BNM’s website shall prevail.

24.3       Where funds credited into the Current Account are derived from or related to any borrowing, loan or financing obtained by the account holder from a non-resident (as defined in the FEP Notices), the account holder declares and represents that such borrowing, loan or financing complies with the applicable FEP Notices, including the following:

(i)           the borrowing, loan or financing complies with any applicable limits, conditions, restrictions and reporting requirements prescribed under the FEP Notices; and

(ii)          the borrowing, loan or financing is not obtained from a non-resident financial institution (as defined in the FEP Notices).

24.4       The account holder undertakes to provide the Bank any supporting documents and/or declaration, whether before or after the transaction, as the Bank may reasonably require to verify the account holder’s compliance with the applicable FEP Notices, applicable laws, regulatory requirements, BNM directions, guidance or enquiries, and/or the Bank’s internal operational risk and due diligence requirements. The account holder shall fully co-operate and disclose to the Bank in a timely manner, accurate, true and complete information, supporting documents and/or application with self-declaration to BNM.

24.5       The account holder acknowledges and understands that the Bank may decline, suspend, delay, reverse, reject and/or refuse to process any relevant transaction under the Current Account and/or report any transaction under the Current Account to BNM and any applicable authority in the event of (i) failure of the account holder to co-operate and comply with the provisions of Clause 24.4, and/or (ii) where the Bank reasonably believes that a transaction under the Current Account may not comply with the applicable FEP Notices, applicable laws or regulatory requirements, or the transaction may constitute a potential attempt to circumvent the FEP Notices.

24.6       Where reasonably practicable and permitted by law or regulatory requirements, the Bank will notify the account holder of the reason for such action.

25     MISCELLANEOUS

25.1     If the account holder becomes aware of any offer or giving of benefit, gratification, gift, commission or consideration by the Bank’s personnel, officer(s) or director(s), the account holder may report it in accordance with CIMB’s Whistle Blowing Policy as set out in https://www.cimb.com/en/who-we-are/overview/corporate-governance/code-of-conduct/whistle-blowing.html.              

25.2     The account holder may submit a complaint relating to the Current Account to any of the Bank’s branch. If the account holder is dissatisfied with the explanation or solution provided by the branch, the account holder may contact the Bank’s Customer Resolution Department at the following address, telephone number and e-mail address (or such other address, telephone number and e-mail address which the Bank notified to the account holder): Customer Resolution Unit (CRU). P.O. Box 10338, GPO Kuala Lumpur, 50710 Wilayah Persekutuan Tel: +603-6204 7788 / e-mail: contactus@cimb.com. The Bank will provide progress updates and communicate a decision as soon as practicable. If the account holder remains dissatisfied with the Bank's final decision, the account holder may escalate to: Ombudsman for Financial Services (OFS) / FMOS: www.fmos.org.my / Tel: 03-2272 2811