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Trang 1Account Opening Terms and Conditions
HM Town Building 412 Nguyen Thi Minh Khai St., Ward 5, Dist 3, HCMC
T: +(84 8) 62 679 679 I F: +(84 8) 62 638 668 E: 1800555599@vietcapitalbank.com.vn
VIET CAPITAL BANK
BM20B.DV3/17.01
Article 1: Interpretations
Article 2: Rights and Obligations of the Account Holder (Customer)
1 Bank: means Viet Capital Bank its business center, branches and transaction offices.
2 Account: means each account held by the Customer including legal entity/Individual opened with Bank.
3 Account Holder: means the person who opens the Account including:
a Individual Account Holder: means the individual who opens the Account
b Legal entity Account Holder: means the legal entity that opened the Account.
4 Customer: means the Account Holder, any Joint Account Holders or any Attorney authorized to complete transactions
with the Bank.
5 Joint Account: means any account held in the names two or more persons that jointly use their names to open the
Account Joint accounts can be both legal entity or Individual The reason for using the Joint Account, the rights and
obligations of for each Joint Account holder and regulations relating to the usage of the Joint Account as defined in the Joint Accounts Holders Commitments on Account Usage Form
6 Close account: means the Bank closes the account including the customer information profile and the Account
number of the Customer.
7 Block account: means the Bank freezes all activities on the whole or part of the account.
8 Account documents: means any Debit Notice, Credit Notice, Balance Statement, Account Ledger, Account Statement
and any other documents related to notification of the Account balance.
9 Minimum balance: means the minimum amount required to maintain in the Account at all times.
10 Balance limit: means the amount in the Account that the Customer can use for expenses and payments Allowed
balance allowed to use (=) on the Account balance minus (-) blocked amount, minus (-) minimum balance that the
Account holder must maintain, plus (+) outstanding overdraft limit (if any)
11 Related Person: is any of the following:
a For individual customer
- Joint account holder ( an individual or legal entity) with such individual customer;
- Representative under Authorization;
- Legal Representative;
- Secondary Card Holder
b For legal entity customer
- Joint account holder (an individual or legal entity) with such legal entity customer;
- Individuals holding 10% or more of charter capital of the legal entity;
- The Account Holder;
- Attorney of the Chief Accountant/Person in charge of accounting
- Individuals holding 20% or more of charter capital of an legal entity which contribute more than 10% of capital of the legal entity
1 The Customer agrees to use the Account (s) in accordance with the Terms and Conditions of the Bank (posted on
website: www.vietcapitalbank.com.vn) and only for lawful purposes All Joint Account Holders have equal rights and obligations, use of the account must the approved by all Joint Account Holders All Joint Account holder may be each other's Attorney or authorize another person to be their Attorney to be able to use and complete transactions on the account with the same rights and obligations of the Joint Account Holder
2 The Customer has the right to use the money in the Account to complete any transactions that are legal and valid.
3 The Customer agrees that the Bank will facilitate an environment which will allow all transactions to be completed
effectively and securely
Trang 24 The Customer has the right to request the Bank to complete any legal and valid payment instructions within the
available account balance
5 The Customer has the right to request information regarding any transaction and account balance of the Account.
6 The Customer has the right to request the Bank to terminate or block the Accounts when necessary.
7 The Customer has the right to change the operation of the Account (s) as agreed with the Bank.
8 The Customer has the right to receive interest for the balance of the Account as per the applicable interest rate for each
account as prescribed by the Bank posted on website: www.vietcapitalbank.com.vn, at any transaction office or via other means of the Bank
9 The Customer can be assured their account(s) balances, transaction security and information relating to the Account will
be secured in accordance with the law
10 The Customer agrees to maintain a minimum balance, the balance is allowed to be used on the Account to complete
transactions and for the payment of fees as prescribed by Bank posted on website: www.vietcapitalbank.com.vn, at any transaction office or via other means of the Bank
11 The Customer agrees to comply with the guidelines established by the Bank when instructing payment orders, use of
payment facilities, carrying out payment instructions, as well as the use, transfer, storage of transaction documents, ensuring security measures in payment instructions according to regulations of laws;
12 The Customer agrees to provide the Bank with complete, accurate and legal information which correctly matches with
the Account(s) opening registration documents for all payment instructions The Customer is responsible for any mistakes, abuse, or fraudulent use of payment services through the account(s) due to the Account Holder's fault
13 The Customer agrees to promptly notify the Bank when detecting errors or mistakes in the Account(s) or if the
Account(s) are misused.
14 The Customer agrees to immediately refund to the Bank if the account(s) was credited by mistake or within 07 working
days from the date of receiving notification from the Bank in which the Customer cannot prove legal entitlement
15 The Joint Account Holder who is authorized to receive notices related to the Account(s) has the responsibility to inform
all other Joint Account Holder(s) of any notice or communication by the Bank It is understood that a notice or communication given by the Bank to any Joint Account Holder will bind all other Joint Account Holder(s)
16 The Customer agrees not to lease, or lend the Account(s); or use of the Account(s) for payment transactions related to
funds that have illegitimate and unlawful origins
17 The Customer agrees to provide all information and documents requested by the Bank.
18 The Customers agrees to notify the Bank immediately if there is a change in communicating information including a
change of phone No., address, email registered at the Bank Unless the Bank receives the Customer' notice of such change, the Bank will keep providing services by using registered information
19 The Account holder may use the Account to deposit, withdraw cash and request the Bank to provide payment services
through such account with the following functions: to provide payment methods, implement cheque payment, payment order, payment mandate, collection, encashment order, bank card, letter of credit, remittance, payments on behalf, collections on behalf and other value-added services in accordance with the laws
1 The Bank is dispensed from all losses and damages of the Customer in case the Bank provides services using registered
information which aren't used any longer by the Customer and/or are not available and the Customer does not register for a change of them at the Bank or the Customer does not receive services from the Bank for any reason
2 Automatically deduct from Customer Account(s) for the following cases:
- Any due debts, overdue debts, interest and other expenses incurred in the process of managing the Customer Account(s) and from providing payment services under stipulated regulations
- Any payment obligations under directives of authorized State agencies
- If the Bank detects the Customer account(s) was credited by mistake
- Reversing any credits made to the account(s) in which the Customer cannot prove legal entitlement for such credited amounts within 5 days from the date of the Bank's notification
- Other cases as agreed between the Customer and the Bank
3 Having the right to refuse to execute a Customers payment instruction for the following cases:
- The Customer does not fully comply with the procedural requirement of payment instructions; payment instructions are invalid, incorrect registered information or any condition which does not conform to the agreement between the Bank and the Customer
Article 3: Rights and Obligations of the Bank
Trang 3- The Customer does not have sufficient balance available or in excess of the overdraft limit for execution of the payment instruction(s)
- Upon the written request of the authorized State agencies or having appropriate evidence showing that the payment order is for the purpose of money laundering, terrorism financing as stipulated by laws and regulations on anti-money laundering
- The account is temporarily locked, totally blockaded or the account is being closed, the account is temporarily locked
or blockaded partially whereas the remaining balance that is not locked, blockaded, is not sufficient (for the case of overdraft) or is in excess of the overdraft limit for performing payment orders
4 If the Bank detects that the Customer violates existing agreements with the Bank including any sign of violation of the
law, the Bank has the right to refuse to execute the Customer's payment instruction, keep exhibits and immediately notify to the competent authorities for consideration and handling
5 The Bank has the right to block, close, convert or liquidate the account(s) as posted on website:
www.vietcapitalbank.com.vn, at any transaction office or via other means of the Bank
6 The Bank has the right to implement measures to ensure security in the payment services depending upon specific
operational requirements from the Bank and posted on website: www.vietcapitalbank.com.vn, at any transaction office
or via other means of the Bank
7 The Bank has the right to require the Customer to provide relevant information when executing payment instructions in
accordance with regulations
8 The Bank has the right to issue penalties for Customers' regulation violations on the agreed account(s) usage policies or
under stipulated regulations
9 The Bank has the right to instruct the Customer to comply with the provisions and procedures of providing account
opening documentation, transaction documentation and on the relevant regulations on the usage policies of the account(s)
10 The Bank will promptly execute the Customer payment instructions and account(s) usage requests in compliance with
regulations or agreements between the Bank and the Customer
11 The Bank has the right to control the Customer payment instructions, ensuring compliance with the prescribed
procedures, legality, validity and consistent with the Customer's registered information The Bank will provide prompt payment services and facilities to service the demands of Customer's transaction instructions
12 The Bank will execute instructions on the basis that the transactions are valid, and accounting records are lawful, and will
adjust for items not properly accounted if the content is not in accordance with the Bank's stipulations In the case there
is a credit to a Customer's account in the form of a different currency to that of the account, and the Customer has not instructed the Bank to open another account, the Bank has the right to convert the credited currency to the currency of the Customer's opening account at the prevailing exchange rates of the Bank as posted on website: www.vietcapitalbank.com.vn, at any transaction office or via other means of the Bank in order to credit such amount
13 The Bank agrees to provide fully certified documents as agreed between the Bank and the Customer and to promptly
notify the Customer on account information according to prescribed provisions
14 The Bank ensures account security and to keep information confidential related to the account(s) as prescribed by law.
15 The Bank will publicly post the regulations on account opening, usage policies and management on Customers'
account(s) and the relevant policies are referred to this “Account Opening Terms and Conditions” on the website: www.vietcapitalbank.com.vn, at our transaction offices and via other means of the Bank
16 The Bank will be held responsible for damages, violations, misuse of the Customer account(s) due to the Bank fault or
mistake
17 The Bank assumes no liability for any tax withheld on any reportable payments made to a customer under the U.S Tax
Rules
18 Responsible for the information confidential of customer Not allowed to disclose customer information to any third
parties, except for requirement from authorized government agencies
19 To inform the Account holders (or the guardian, legal representative of the account holders) in writing about the reason
and scope of blockade right after the blockade, preserve and control the blockaded amount tightly in accordance with the content of blockade in case the Account is blockaded
1 Transaction Locations:
The Customer may provide instructions to the Branch where the Account(s) were opened for the following instructions: Request to amend account information; Request authority to use a term deposit account; Provide notice of revocation of
Article 4: Account Management
Trang 4a Power of Attorney; Request to close an Account(s).
- The Customer may go any branch/transaction offices of the Bank to perform other transactions
2 Minimum balance: The Account holder is required to maintain the minimum account balance in their account (s) as
prescribed by the Bank posted on website: www.vietcapitalbank.com.vn
3 Overdraft: The Account Holder may use the overdraft facility where there is an agreement with Bank Overdraft facility,
overdraft charges and interests and other related issues are performed in regards to the agreement between the Account Holder and the Bank in accordance with provisions of the law and regulations of the Bank
4 Interest: Customer account(s) with credit balances will earn interest at the Bank's announced deposit interest rate
posted on website: www.vietcapitalbank.com.vn, at any transaction office or via other means of the Bank
5 Account management fees, transaction fees and other account related fees: The fee schedule is published by
the Bank from time to time on the website: www.vietcapitalbank.com.vn, at our transaction offices and via other means
of the Bank
6 Providing account statement: The Bank is responsible to provide full account statements of the Customer account(s)
on time and by the agreed method The Customer may request the Bank to provide the account statements at any time
and must pay the prescribed fees according to the Bank schedule posted on website: www.vietcapitalbank.com.vn, at any transaction office or via other means of the Bank
7 When an legal entity ceases operation in accordance with the law: The account(s) will be closed, the balances in
the account will be paid in accordance with or under the directive of the competent authority.
8 If the Account Holder is an individual and deceases, declared missing, restricted legal capacity, or lack legal capacity: the account(s) will be closed, the account balances will be paid at the request of the next of kin, legal
representative of the Account Holder, under the directive of the Court, or based on the decision of the competent
authority
1 Account(s) Blockage:
- The Bank has the right to block all or part of the Customer account(s) for the following cases:
+ A written request issued by a competent regulator is available in accordance with applicable laws and regulations + The Bank finds out that there is some mistakes or errors in Crediting to the customer's current account or a request for refunding an amount of money is sent from the payment service provider that has remitted such amount due
to mistakes or errors in comparison with the payment order of the remitter; the amount being frozen on the current account may not exceed the mistaken amount;
+ A written notice is serviced by one of the account holders informing that there arises dispute among the holders of the joint account
- In the event the account(s) is blocked without the Account Holder's requests, the Bank shall send a notification to the Account Holder of the blocked account(s)
- The use of the Account(s) during the period the account(s) is blocked must will be in accordance with purpose of the block The blocked amount must be preserved and controlled according to the blockage policies; interest is earned in accordance as prescribed by the Bank on the website: www.vietcapitalbank.com.vn, at transaction offices and via other means of Bank In the event that a part of the account is blocked, the remaining amount will be available to use normally
- The blockage of the account(s) shall terminate in the following cases:
+ The term of blockage expires
+ A written request for ending the blockage of payment account is issued by the competent regulator
The payment service supplier has finished handling the mistake, error in remittance;
A written notice made by all the holders of the shared payment account informing that the dispute of the shared payment account among the holders has been solved
2 Account(s) Closure:
- The Bank has the right to close the Customer account(s) for the following cases:
+ When an legal entity have active account (s) and ceases operation in accordance with the Law
+ When an Account Holder or Joint Account Holder(s) violates the law in a transaction or beaches an agreement with the Bank
+ When the Bank receives a written request from the Account Holder
+ If the account balance is 0 (zero) and no activity in the account for 6 months or more
Article 5: Account(s) Blockage, Closure and temporarily locking
+
+
Trang 5- When closing the Account(s), the Bank will automatically debit the account(s) for the service charges as prescribed
by the Bank posted on website: www.vietcapitalbank.com.vn
- After closing, the remaining balance in the account(s) is handled based on instructions from the Account Holder's or all Joint Account Holder (s) The Bank will not approve a request to close the account of the customer when the account is currently being blocked or the customer has unfinalized debts obligations to the Bank
- When closing the Account, if the account balance is in credit and customer does not withdrawal, the Bank will transfer the balance of the Account to a pending account and will not continue to pay interest The Bank will pay the balance of the account once the customer attends the Bank to complete the procedures as prescribed by the Bank
3 Temporarily locking
- The Bank will temporarily lock the Account of the Customer (temporarily cease from transaction) partially or entirely upon a written request of the account holder (or the lawful representative of the account holder) or a prior written agreement between the account holder and the Bank
- The Bank is entitled to refuse the request for temporary lock over the Account if the account holder has not fulfilled the payment obligations according to enforcement decision of the competent authority or has not paid off payable debts to The Bank
- The termination of temporary lock of the Account and settlement of payment orders sent or received during the temporary lock as requested by the Account holder (or their guardian, lawful representative) or in accordance with written agreement between the account holder and The Bank
1 The Bank receives requests of investigation and complaints of Customer through two methods, including via Call center
1800555599 (with recording) and through the offices of the Bank.
2 In case of receiving information via Call center, the Bank shall require the customer to provide a written request of
investigation or complaint using the above-mentioned form within 05 working days that serves as the official basis or the trace request or complaint In the case where another person is authorized to make the requests of investigation and complaint, the Customer shall comply with law on authorization;
3 The Customer has the right to make the requests of investigation and complaint within 90 days from the date on which
the transaction for which the trace request is made proceeds
4 Time limit for processing a requests of investigation or complaint:
a Within 30 working days from the date on which the initial trace requests of investigation or complaint, the Bank shall
initiate the processing of such requests of investigation or complaint;
b Within 05 working days from the notification of results of requests of investigation and complaints, the Bank, upon
agreement or in accordance with applicable law provisions, damage incurring through no fault of the customer and/or not due to force majeure events agreed upon in the agreement on terms and conditions of opening and maintenance of current account;
c If it fails to determine reasons or which party at fault while the deadline for requests of investigation or complaints,
the provider shall, within succeeding 15 working days, agree with the customer about the solution for processing such requests of investigation or complaint
The Customer may authorize others to use their account for each transaction or for a period transaction
1 During the authorized period, the authorized person(s) has full authority and responsibility as the Account Holder.
2 The cancellation of user authorization will take effect from the time the Bank receives notification from the Account
Holder requesting to cancel authorized access
3 The cancellation must be made in writing and approved by the Bank.
1 U.S indicias according to the U.S Foreign Account Tax Compliance Act
(FATCA):
a For Individual:
- U.S Citizen or U.S Permanent Resident (Green Card) or U.S Resident (physically presenting in the U.S for 31 days or presenting in the U.S for 183 days during the last three years)
- U.S Tax Identification No
- Current U.S Place of birth
Article 6 Processing requests of investigation, complaints
Article 7: Account User Authorization
Article8: Customer Commitments Related to U.S Tax Regulation
Trang 6- Current U.S Mailing or residence address (including a U.S post office box).
- Current U.S telephone number
- Standing instructions to transfer funds to an account maintained in the United States
- In care of or hold mail address which is the sole address for the account holder
- Power of Attorney or signatory authority granted to a person with a U.S address
- The Related Person has one of above U.S indicias of:
+ Individual are mentioned above (in case of being an individual); or
+ Legal entity are according to point b term 1 this Article ( in case of being an legal entity);
b For legal entity:
- Incorporated or organized in the U.S or under the laws of the U.S
- Incorporated at U.S
- U.S Tax Identification No
- Current U.S Mailing or office address (including a U.S post office box)
- Current U.S telephone number
- Standing instructions to transfer funds to an account maintained in the United States
- In care of or hold mail address which is the sole address for the account holder
- Power of Attorney or signatory authority granted to a person with a US address
- Controlling Person of legal entity has one of above U.S indicias:
+ Of an individual are according to point a term 1 this Article ( in case of being an individual);or
+ Of an legal entity are mentioned above (in case of being an individual)
2 The Customer and Related Person confirm the information provided in the Additional information form for Customers
with U.S Indicia is true, accurate and complete By ticking the appropriate box under “Information required under U.S Tax Law” in that form, they declare their tax status according to U.S Tax Law They understand a false statement or misrepresentation of their tax status may lead to penalties under U.S Tax Law, including Foreign Account Tax Compliance Act (FATCA) and they agree that they will be liable for any penalties
3 The Customer and Related Person agree to provide the Bank with such information and documents as required If there is
a change in any information including a change of their US Tax status or they become US Citizens or residents of the United States, they undertake to notify the Bank in writing in any event within 30 calendar days from the date of change
in order to modify and/or update their information which will be valid for use and replace all information that they have previously provided the Bank
4 Subject to applicable local Law or Regulation, The Customer and Related Person hereby consent for the Bank and/or any
of its affiliates (including branches) to disclose their information to domestic and overseas Tax Authority, regulators and/or third party service providers where necessary to establish their tax liability in any jurisdiction
5 Where required by domestic or overseas regulators or Tax Authority, The Customer and Related Person consent and
agree that the Bank may withhold from their account(s) such amount as may be required according to the applicable laws, regulations and directives They irrevocably and unconditionally consent for the Bank to (i) close the account(s); (ii) terminate the banking facility; (iii) transfer the account and/or banking facilities as required by any Tax Authority The Bank will not be held liable to them for any tax or amounts with held as required by any foreign or domestic Tax Authority or/and any loss or damages incurred as a result of the Bank complying with any law/ regulation or agreement with Tax Authority in accordance with this Customer Commitment
6 The Customer and Related Person will indemnify the Bank against any and all loss or damage including recovery cost
and expenses incurred as a result of their breach and/or non-compliance with this Customer Commitment and/or the
“Account Opening Terms and Conditions” and/or any misrepresentation by them of any information or failure to provide any information to the Bank The Bank shall be entitled to do all acts and things it deems necessary to recover all loss and damage that the Bank has incurred, including the liquidation of their assets
7 The Customer and Related Person consent that the above mentioned Customer Commitment will override any
contradictory terms or consent provided by them under any other prior agreement with the Bank
8 The Customer and Related Person hereby consents for the Bank or any of its affiliates (including branches) to comply
with the United States of America Tax rules or regulations (U.S Tax Rules), including disclosing their information to authorities, regulators where necessary to establish their tax liability in any jurisdiction
9 The Bank shall not assume any liability for any tax or amounts withheld on any reportable payments made to the
Customer under the U.S Tax Regulations
Trang 710 Where required by domestic or overseas regulators or tax authorities, the Customer consents and agrees that the Bank
may withhold from their account(s) such amount as may be required according to applicable laws, regulations and directives
1 The Customer and Related Person acknowledge the Bank is under no obligation to provide any tax advice They are
solely responsible to fulfill worldwide tax reporting and filing obligations in relation to their account(s) and understand that the Bank expects me to fully comply They will be accountable for obtaining independent tax advice regarding any transaction or instruction related to their account(s) at the Bank In the event where a referral is made by a third party for specific tax advice, contract for such tax advice is between their and the third party, and any advice provided is the responsibility of such third party, and not of the Bank
2 The Customer and Related Person have the obligation to provide any information and documents requested by the Bank
that is required by law to enable to Bank to meet its own legal, compliance and tax reporting obligations
3 The Customer and Related Person accept all responsibility under the law if they are required under the law to have a
Chief Accountant (or Person in charge of Accounting) but they failed to provide detailed information including the specimen signature of Chief Accounting (or Person in charge of Accounting) to the Bank
1 The Bank reserves right to replace, change, and add contents on this “Account opening terms and conditions” and sends
a notice of such change to the Customer at least 01 working day in advance by Forms of notice in this Article Replaced, changed, added contents are valid to apply when the Customer continues to use the Account after such change is valid, unless otherwise the Customer terminates using the Account and the Bank receives a written request of such termination
2 Forms of notice:
a) Posting on the Bank's website at http://vietcapitalbank.com.vn; or
b) Sending to the e-mail address (e-mail) that the Customer registered with the Bank; or
c) Publishing or announcing at the Bank's transaction points and locations; or
d) Sending to the Customer's registered address; or
e) Sending to the Customer's registered mobile number if they have agreed to use such service
If any dispute related to the opening, usage and management of the account(s) arises, the Account Holder, Joint Account Holder, and the Bank will resolve by negotiation or reconciliation In case negotiation is unsuccessful after 90 days from the date of dispute, the parties may submit the dispute to the competent Court in Vietnam for final decision
Article 9: Customer and Related Person Commitments
Article 10: Amendment to Bank's Terms and Condition
Article 11: Settlement of Disputes