Terms & Conditions

GENERAL TERMS AND CONDITIONS
PT BANK COMMONWEALTH

These General Terms and Conditions of PT Bank Commonwealth ("GTC") govern the legal relationship between PT Bank Commonwealth and individuals/corporations who use the services of PT Bank Commonwealth who are prospective accountholders or accountholders with PT Bank Commonwealth in connection with all products, facilities and/or services available to the customers.

DEFINITIONS AND INTERPRETATION
1. Definition
  In these GTC, unless the context otherwise requires, the following terms shall have the meaning ascribed thereto as follows:
  1. Law Enforcement Official ("APGAKUM") means the relevant authorities including but not limited to the police, prosecuting office or courts, and/or other institutions, to make requests or to take other actions including but not limited to the blocking and/or closing of Customer's accounts and confiscation of assets.
  2. Automated Teller Machine ("ATM") means Automated Teller Machines owned/managed by the Bank or owned/ managed by another bank based on cooperation with the Bank can also be used by the Customer for certain transactions.
  3. Bank means PT Bank Commonwealth, a banking institution that is registered with and supervised by the Financial Services Authority (OJK).
  4. Correspondent Bank means a bank that under an agreement has a relationship with the Bank to provide mutual services and/or to conduct transactions for and on behalf of the Bank.
  5. Drawee Bank means a bank that receives a payment order or an overbooking order for a sum of funds from the Customer's Current Account using Cheque/ Bilyet Giro.
  6. Cut Off Time ("COT") means the maximum time applicable in the Bank to process transactions on the same day (D-0).
  7. Prospective Customers mean individuals or business entities who will use the Bank’s services. In this case, those who will have a business relationship with the Bank, including those parties who will open a Customer Information File ("CIF"), have an account with the Bank, have services and facilities at the Bank or establish other cooperation.
  8. Cheque/Bilyet Giro means a written order from a Customer to the Bank as a media for withdrawal from the Customer’s Current Account as regulated in the laws and regulations applicable in the Republic of Indonesia.
  9. Dishonoured Cheque/Bilyet Giro means a Cheque/ Bilyet Giro which is presented by a Customer either through clearing or through the Bank’s counter directly, but the payment or overbooking of which is dishonoured by the Drawee Bank with the reasons for rejection as stipulated in the applicable provisions of Bank Indonesia.
  10. Time Deposits means deposits that can only be withdrawn at a certain time based on the agreement of the Customer and the Bank.
  11. Electronic Data Capture ("EDC") means a hardware or computer terminal which can take the form of a cash register or a debit/credit verification terminal that is able to read information on the chip card and is used to conduct banking transactions by the Customers in the Bank or via merchants.
  12. Account Opening Form means an account opening form that is completed and signed by a Customer for the purpose of opening an Account.
  13. Business Day means a day, except Saturdays or Sundays or official holidays determined by the government, on which the Bank operates to conduct business in Indonesia.
  14. Calendar Day means a day, in the year of Anno Domini without exception, including Saturdays, Sundays and national holidays which are determined at any time by the government.
  15. Law means the law applicable to this GTC, namely the prevailing laws and regulations of the Republic of Indonesia.
  16. Internet Banking means a service provided by the Bank to a Customer, in which the Customer can, including but not limited to, access accounts, conducting transactions and/or other services using internet through the Bank’s website.
  17. Bersama Network means a network owned by PT Artajasa Pembayaran Elektronik as a network provider in the interbank fund transfer, cash withdrawals at the Bank’s ATMs, and payments using cards.
  18. Prima Network means a network owned by PT Rintis Sejahtera as a network provider in the interbank fund transfer, cash withdrawals at the Bank ATMs and payments using cards.
  19. Identity Card means Electronic Resident’s Identity Card ("KTP-el") for Indonesian citizens ("WNI") and passport along with Temporary Resident Permit Card ("KIMS")/Temporary Residence Permit Card ("KITAS") for Foreigners ("WNA") who are domiciled outside Indonesia.
  20. Debit Card means including but not limited to Physical Debit Card and/or Virtual Debit Card provided by the Bank to the Customers that function as ATM card that can be used at the ATM machines and/or EDCs, and can be used as debit card for shopping transactions which funds are sourced from the Customer's account.
  21. Statement means Current Account statement and/or statements of other products of the Bank.
  22. The Indonesian Deposit Insurance Corporation ("LPS") means an institution established by the Government of Indonesia that functions to guarantee deposits of the depositing customers.
  23. Mobile Banking means a service that allows the Bank customers to make banking transactions via cellphone or smartphone. The Mobile Banking services can be used by using a menu that is available through the application downloaded and installed by the Customers.
  24. Customer means an individual or business entity (Corporation or other legal arrangements) who has account in the Bank and registered in the Bank’s system.
  25. Complaint means an expression of customer dissatisfaction, whether verbally or written, caused by reasonable loss and/or potential material loss directly to the customer due to non-fulfillment of the agreed financial transaction agreements and/or documents.
  26. Regulator means a government institution and/or agency and/or an authorized party including but not limited to Bank Indonesia and/or the Financial Services Authority, LPS, and PPATK.
  27. Account means a Customer's deposit in the form of savings, current accounts, and time deposits and/or other similar forms, whether those that has been opened by the Customer at the Bank or will be opened at a later date.
  28. Joint Account means an Account that is jointly operated by more than one Customer.
  29. Current Account means a deposit that can be withdrawn at any time by using withdrawal media including but not limited to Cheque/Bilyet Giro and/or other media, or through overbooking and/or transfer.
  30. Savings Account means a deposit that can only be withdrawn according to the Bank’s internal provisions, including but not limited to through the Bank’s counters and/or ATMs, but cannot be withdrawn by Cheque, Bilyet Giro, and/or other similar instruments.
  31. Short Messages Services ("SMS") means messages sent to a Customer through a cellular telephone provider that is registered by the Customer.
  32. Shell Bank means a bank that does not have a physical presence in the jurisdiction of the bank where it is incorporated and has obtained a license.
  33. Notification SMS means a service provided by the Bank to give notification and/or information of financial transaction related to the Customer's account via SMS to the Customer's mobile number.
  34. Safe Deposit Box ("SDB") means a treasure or securities storage box that is specifically designed from steel and placed in a strong and fire resistant treasury to maintain the safety of stored goods and provide a sense of security for its users.
  35. Initial Deposit means the amount of money or funds required by a Customer to be deposited at the beginning, as one of the main requirements for opening a Savings Account and/or investment account.
  36. Tariff and Fee means a list of tariffs and fees that are charged to a Customer for the Bank's products and services.
  37. Token means security tool that provides trusted authentication method by generating one-time password using encryption methodology. The Token consists of two types, namely hard token and SMS token.
2. Interpretasi
  1. Headings as referred to in these GTC are for convenience only and are not intended to interpret the contents, purposes and objectives of the articles in these GTC.
  2. Words or terms in the singular shall include the plural, and vice versa.
GENERAL PROVISIONS OF THE BANK’S PRODUCT
1. Account
  1. Account Opening
    1. An Account can be opened by Prospective Customer and/or the Customer through the nearest branch and/or other channels owned by the Bank, by completing information and providing Identity Card or other documents required by the Bank with reference to the Regulation of the Financial Services Authority concerning Implementation of Anti-Money Laundering and Counter Terrorism Financing Program for Commercial Banks along with other relevant regulations (as may be renewed from time to time).
    2. The Bank based on its authority and/or with reference to the prevailing laws and regulations in the Republic of Indonesia has the right to reject an application for Account opening from a Customer and/or a Prospective Customer by notifying the Customer of the reasons thereof, to the extent that there are no Law prohibiting such notification.
    3. A Customer is obligated to make an initial deposit for opening an Account in the amount determined by the Bank, as one of the main requirements for Account opening.
    4. The funds available in the Account are included in the guarantee program organized by the LPS in accordance with the terms and conditions stipulated by the LPS.
  2. Interest Rate
    The Account’s interest rates may change at any time in accordance with the Bank’s policy and shall be informed to the Customer through the Bank's communication media facility.
  3. Fees and Taxes Charging
    1. A Customer shall be responsible for all fees that may arise and any taxes imposed by the Government of the Republic of Indonesia in connection with the Customer's Account maintenance and/or Customer's instructions execution.
    2. A Customer authorizes the Bank to debit the Customer's Account to pay any amount owed including interest, service fees, fines, taxes and other amounts payable by the Customer with respect to banking products or services.
    3. The Bank has the right to determine and/or change the amount of fees in accordance with the applicable regulations with respect to the Bank's products or services, by giving prior notice within the period of time as stipulated in the prevailing Law.
  4. Funds Deposit and Withdrawal
    1. Deposits through the Bank’s counter, overbooking and/or transfer from other banks shall only be effective if it has been validated (printed data evidence from the Bank’s system) and endorsed by the Bank’s officials and/or after the Bank receives funds in accordance with the applicable regulations.
    2. Cash and non-cash withdrawals may only be made to the extent that
      
      the balance in the Account is sufficient;
      
      meets the minimum balance requirement;
      
      carried out by authorized signatory;
      
      in the case of withdrawal in foreign currencies, subject to the supply of foreign currency at the Bank's counter and the availability of foreign currency on the market and
      
      the Bank is only obliged to serve withdrawals/ overbooking/transfers from the Customer's Account in accordance with the instructions/ application for withdrawals/overbooking/ transfers from the Customer or his/her lawful proxy (based on a lawful power of attorney from the Customer).
    3. Cash deposits and/or withdrawals to an Account on a Business Day shall be subject to a minimum and maximum daily amount determined by the Bank for the transaction, and/or subject to the prevailing laws and regulations.
    4. Customers understand their risks and responsibilities including but not limited to the provision of supporting documents if it is requested by the Bank and/or required and obligated by the prevailing Law. The Customer hereby understands that any loss, expense, lawsuit, claim as a consequence of the unavailability of supporting documents shall be the full responsibility of the Customer.
    5. Customers understand that in order to comply with the Law and/or other government regulations, as well as due to any other reasons including but not limited to any actions of the government that punish, confiscate, take over or take control of the Customer's assets or put the Customer’s assets under custody, the Bank, based on its considerations and authority, may choose not to carry out its obligations and/or execute the Customer's instructions.
  5. Funds Transfer
    1. The Fund Transfers shall be subject to the prevailing Law, and carried out in accordance with the policies and provisions applicable in the Bank.
    2. A Customer shall be responsible for the validity and clarity of the transfer order and the Customer understands all risks and responsibilities including in the event of a loss that may arise due to an error/mistake/ obscurity of information/data in the transfer order which results in misinterpretation by the Bank and/or the Correspondent Bank.
    3. A Customer understands and agrees to all risks that may arise outside the control of the Bank including but not limited to the following matters:
      
      Delay or failure to forward transfers by the correspondent bank or other related parties.
      
      Non-execution of transfer due to the prevailing laws and regulations, either in the sending country or the receiving country.
    4. The Bank has the right to refuse, cancel or postpone the transfer transaction by notifying the Customer of the reasons thereof, to the extent that there are no laws and regulations prohibiting such notification.
    5. The transfer can only be executed after sufficient funds have been effectively received by the Bank and/or available in the Account.
    6. Change or cancellation of transfer:
      
      Any change and/or cancellation of transfer may only be made if the Bank has received a written request from the Customer before the funds transfer order is executed or before the funds are paid to the beneficiary and the transferee bank is willing to make such change and/or cancellation.
      
      For such change and/or cancellation of the transfer, the Customer shall be charged with fees according to the provisions applicable in the Bank.
      
      Cancelled Transfer Funds may only be returned to the sending Customer after the funds have been effectively received back by the Bank, taking into account the fees charged and the reduction in value due to differences in exchange rates.
  6. Account Statement
    1. The Bank will record, book and print every deposit and withdrawal transaction in an Account Statement, which will be delivered or sent to the Customer in accordance with the Bank's provisions.
    2. The Customer agrees that the Customer will examine and verify carefully any records contained in the Account Statement, reconcile with the Customer's own records to see if there are errors, differences, unauthorized debits or other transactions or records that arise due to but not limited to forgery, or negligence of the Customer or others.
    3. If the Customer does not submit an objection in writing to the Account Statement sent by the Bank to the Customer within a period of 30 (thirty) Business Days as of the date the Account Statement is received by the Customer according to the Bank's records, the Customer is considered to have accepted and agreed to the contents of the Account Statement.
    4. The Bank may at any time make corrections in case of errors in accounting/bookkeeping of the Current Account and/or Savings Account of the Customer without penalty. If at the time of correction the balance of the Current Account or Savings Account is insufficient, the Bank has the right to debit the other accounts of the Customer in the Bank with prior notification and/or collect the shortage payment to the Customer and for that purpose the Customer agrees to immediately pay the shortage to the Bank.
    5. For the Customers who already have an email address registered in the Bank, the Bank will not print and send an Account Statement to the Customers. The Bank will send periodic electronic Account Statement in accordance with the provisions applicable in the Bank to the email address of the Customer registered in the Bank’s system.
    6. For the Customers who do not have an email address registered in the Bank, the Bank will print and send an Account Statement periodically, in which the Customer will be charged with fees according to the applicable provisions (the amount of fees shall refer to the tariff sheet section that can be accessed at www.commbank.co.id or call us at Call CommBank at 15000 30 for local access) or (6221) 29355 2935 for international access).
    7. The Bank will stop printing and sending the Account Statement to the Customer if:
    8. The Bank will stop sending Account Statement electronically to the Customer’s email registered in the Bank’s system if for 3 (three) consecutive months, the Bank receives any error response whilst attempting to send the electronic Account Statement to the Customer’s registered email address.
    9. If the Customer does not receive and/or has not yet received the Account Statement, the Customer may request reprinting by coming to the Bank counter but the Customer will be charged with the Account Statement reprinting fee or the Customer can download the Account Statement for free through the Internet Banking service.
  7. Dormant Account
    1. A Customer’s Account that does not have any debit transactions (excluding debit for tax on interest, stamp duty and Bank’s fees) for 6 (six) consecutive months, will be identified as a Dormant Account.
    2. In order to prevent unauthorized transactions, the Bank will limit the debit transactions of a Dormant Account automatically by the system. However, all Bank fees will still be applicable to Dormant Accounts
    3. Reactivation of the Dormant Account can be carried out based on the Customer's request or debit transaction through other channels allowed by the Bank in accordance with the activation procedures applicable in the Bank.
    4. The Bank may close the Dormant Account, with one or both of the conditions below:
      
      The Bank has received confirmation from the Customer that the Customer wants to close the Dormant Account
      
      Dormant Accounts with zero balance or less than Account closing fees/monthly administration fees/fees below the required minimum balance.
  8. Account Closure
    1. The Customer understands and agrees that the Bank can close the Customer’s Account, if:
      
      There is a request for closure from the Customer who holds the Account to the Bank for a specific reason.
      
      Based on compliance with the prevailing Law.
      
      The Customer has a source of transaction funds that is known and/or could reasonably be expected originating from the results of a crime.
      
      The Account has a Dormant Account status with zero balance or less than the Account closing fee/monthly administration fee/ fee below the required minimum balance.
      
      The Customer provides information on personal data and provides documentation which is considered to be incorrect by the Bank.
      
      The Customer dies (disbursement and/or withdrawal of the remaining funds (Balance) shall be carried out by an authorized heir).
      
      At the request of the Regulator and/or APGAKUM.
      
      Based on the Bank's consideration and/or Bank's internal policy, the business relationship cannot be continued, and the Customer is notified of the reasons thereof, to the extent that there are no Law(s) prohibiting such notification.
    2. Upon the Account closure, then:
      
      The Customer is obligated to pay the fees payable and/or administration fees for the Account closing to the Bank and to return the facilities provided by the Bank.
      
      The Bank will pay the remaining funds (balance) in the Account (if any), after first deducting all obligations of the Customer to the Bank including but not limited to the administrative fees for Account closing and other fees including outstanding transactions related to the Customer’s Account.
      
      Refund of any remaining funds (balance) to Customer’s Account closed by the Bank’s consideration may not be processed in the event that there is a finding and/or a proven suspicion of fraud, reports of alleged criminal acts or other actions that contravene the laws and regulations.
      
      The Customer understands that in the event the Customer has closed an Account in the Bank, all data of the former Customer is the property of the Bank and the Bank is not obliged to provide the data and information to the former Customer / other parties, unless specifically regulated by applicable Laws in the Republic of Indonesia
2. Time Deposits
  1. The minimum amount and interest rate applicable to each Time Deposit are determined at any time by the Bank. Changes in the minimum amount and interest rates will be informed through the communication media facility deemed appropriate by the Bank.
  2. The Bank will issue a Time Deposit confirmation stating the deposit placement information. This confirmation only serves as proof of placement of the Time Deposit and does not serve as an ownership document.
  3. Withdrawal / disbursement of the Time Deposit is only valid on the maturity date. At the request of the Customer, withdrawal before the maturity date of the deposit shall only be made with prior approval from the Bank based on the following conditions:
    1. The Bank is not required to pay any interest on the time deposit; and Interest that has been already paid will be deducted from the principal amount of the funds deposited.
    2. The Customer is subject to a penalty / fee, the amount of which is in accordance with the applicable provisions of the Bank
  4. The Bank has the right to approve or reject the extension or renewal of the Time Deposit by notifying the Customer of the reasons for the rejection, to the extent that there are no laws and regulations prohibiting such notification.
  5. The Time Deposit that is due on official holidays or weekends will be paid on the next Business Day.
  6. If a Time Deposit is used as collateral for any responsibility or liability to the Bank, the Time Deposit cannot be withdrawn, assigned, transferred, or otherwise put as collateral without prior written approval from the Bank.
3. Joint Account
  1. Joint Account can be operated with the authority of a single signatory (one of the Customers) or jointly of all Joint Account holders in accordance with the provisions of the Bank.
  2. If one of the Joint Account holders dies, the Joint Account can no longer be operated and must be closed by heir(s) or the lawful proxy of the heirs of the Joint Account holder who died together with the other Joint Account holder which is still alive. However, if both Joint Account holders die, the account must be jointly closed by the heir(s) or their lawful proxy of the Joint Account holders by previously submitting documents in accordance with the provisions applicable in the Bank.
  3. If one of the Joint Account holders is declared bankrupt based on a decision of a court, the operation of the Joint Account must be carried out with the signature of the appointed receiver of the Joint Account holder who was declared bankrupt and other Joint Account holder(s), in accordance with the applicable provisions of the Bank
4. Third Party Products
  1. Third party products and services which are not products and services of the Bank shall include but not limited to investment products and insurance products. The Bank shall only act as distributor and offer the products or services to the Bank’s Customers.
  2. The Bank shall not be considered liable for the performance of other parties' products or any losses incurred thereof, which are distributed by the Bank and the Customer has agreed to purchase or order the same.
  3. In the event that the third party product provides protection or guarantee for the principal amount placed, the Bank is not responsible for such protection and guarantee.
TERMS AND CONDITIONS OF THE BANK’S SERVICES
1. Debit Card
  1. The Bank may provide Debit Card facilities to the Customers in accordance with the Bank's product features.
  2. Application for activation and amendment to the Debit Card facility shall be based on an application from the Customer and approved by the Bank.
  3. The Customer may obtain a Debit Card by coming directly to the Bank or the Bank may send the Debit Card to the Customer to the Customer’s address registered in the Bank’s system. The Customer understands the risks and is responsible for any losses that may be suffered if he/she does not receive a Debit Card that has been sent to the Customer’s address due to an error inserted on the Customer's address which was caused by the Customer.
  4. The Customer is obliged to change the Personal Identification Number ("PIN") received from the Bank. Everything related to the use of the Debit Card and PIN by the Customer shall be the full responsibility of the Customer.
  5. The Customer is obliged to immediately notify the Bank if the Debit Card is lost and/or damaged and/or used by other unauthorized persons. As long as notification has not been received by the Bank, the Bank shall not be responsible for any transactions made with the lost Debit Card.
  6. In case of transaction processing error which is caused by the Bank, the transaction that has been debited can be returned. If the transaction processing error is caused by the ATM network operator, the Bank will assist in returning the Customer's transaction in accordance with the provisions of the ATM network.
  7. In case of transaction processing error which is not caused by the Bank, the transaction that has been debited cannot be returned.
  8. The Bank has the right to charge fees related to the use of the Debit Card service, referring to the applicable Tariff and Fee of the Bank.
  9. The Bank with its authority may block a Debit Card due to including but not limited to the following reasons: (i) if there are reports of loss; (ii) by Customer requests; and/or (iii) internal reasons of the Bank.
  10. The Bank has the right to provide nominal (minimum and maximum) limits per transaction and nominal transaction limits per day (maximum nominal per day), the amount of which shall be determined by the Bank. The Bank may change the transaction limits at any time in accordance with the policies set by the Bank with due observance of Customer service and other factors by previously notifying the Customer through branch offices and/or other media deemed appropriate by the Bank.
  11. Information on foreign exchange rates in Bank’s website is an indication of exchange rates that can change at any time.
  12. The Debit Card with the Mastercard logo can be used as a payment instrument for e-Commerce transactions. To make transactions on e-Commerce, the Bank will send an OTP code. All transactions are executed using the OTP code, however the execution will solely be the responsibility of the Customer. The Bank is not responsible for the failure to send the OTP code caused by the provider network of the cell-phone used by the Customer.
  13. In the event there is a disputed transaction on a Debit Card transaction not made by the Customer, then:
    1. The Customer shall be obliged to report the unknown transaction and request for blocking the Debit Card as soon as possible through Call CommBank no later than 1 x 24 hours after the Customer receives a notification via SMS and/or email and/or knows of an unknown transaction from the Bank by completing the documents required by the Bank
    2. The Customer shall be released from the cost for replacing the Debit Card as a result of this incident.
    3. Completing the documents and/or information required by the Bank for further investigation purposes.
2. Notification via SMS
  1. Notifications via SMS to the Customer shall contain information on customer transactions with the Bank.
  2. Notification via SMS may only be used by the account holder who is registered in the Individual Account.
  3. A Customer will receive a Notification via SMS related to the Customer's transaction according to criteria determined by the Bank.
  4. All information received by the Customer via SMS is for notification only and cannot be used as valid proof of the Customer's transaction.
  5. The Customer that using the services must immediately notify the Bank of any changes to the Customer’s mobile number and the related operator.
  6. A Customer understands and is responsible for, including but not limited to, any losses or risks or consequences or lawsuits from other parties arising from the use of information from the Notification via SMS sent to the cell-phone number registered by the Customer with the Bank.
  7. The Bank is not responsible for risks or claims from any parties including but not limited to the matters caused by:
    1. Disclosure of confidential Customer information received by any party via SMS;
    2. Disclosure of information to the Customer's cell-phone where the cell-phone is in the hands of others even if together with the Customer;
    3. Malfunction of the Customer’s cell-phone, or others telecommunication device or equipment caused by the use of SMS Notification;
    4. Error on the cell-phone network.
3. Safe Deposit Box ("SDB")
  1. A Customer shall be obliged to ensure the availability of funds in the Account for the purpose of paying SDB usage fees before the SDB lease due date and the Bank will automatically debit the funds. The Customer authorizes the Bank to debit the Customer's Account annually in accordance with the provision of SDB usage fee applicable at the Bank. If the Customer does not fulfil the obligation to pay the SDB usage fee, the Bank has the right to take actions deemed necessary, including but not limited to limiting Customer's access to the SDB box, forcibly opened the SDB and other matters deemed necessary in accordance with the Bank's policies and procedures in this regard.
  2. The period of use and/or leasing of SDB for the Customers is 12 (twelve) months, unless the period of use is extended by the SDB Customers with the approval of the Bank for a mutually agreed period. The Bank may reject the request for an extension of the SDB usage period based on the Bank's internal considerations by giving the Customer a reason for rejection.
  3. The use of SDB for less than 12 (twelve) months shall be subject to usage fees for 12 (twelve) months.
  4. The key security deposit is only paid 1 (one) time at the opening of the SDB facility and such security deposit will be refunded to the SDB Customer at the end of the SDB usage period without interest.
  5. The Bank has the right at any time to exchange the SDB that is being used with another SDB determined by the Bank either in the same branch office or a different branch office due to the need for repairs or other matters deemed necessary by the Bank with notification to the Customer.
  6. A Customer shall be prohibited from making a duplicate of the SDB key and if the SDB key is lost, the Customer shall be obliged to notify the Bank and bear the costs arising from the replacement of the key in the amount of the key security deposit.
  7. If the SDB key is reported to be lost/damaged by the Customer, the SDB will be forcibly opened by the Bank in the presence of the Customer.
  8. A Customer is not permitted to relocate and/or sublease and/or allow anyone other than his/her proxy to use the SDB.
  9. SDB Customers shall be prohibited from storing flammable or explosive goods in the SDB and/or goods / items that are prohibited by Law / Government. Any losses incurred as a result of violation of this provision shall be the accountability and fully the responsibility of the SDB Customer. The Bank has the right to terminate the period of use of the SDB that has been determined to be in violation of the above provisions and in which case the Bank is not obliged to refund such funds that have been received from the relevant SDB Customer.
  10. The Bank by virtue of its authority has the right to open and/or forcibly open the SDB under the conditions including but not limited to:
    1. The SDB is suspected of storing prohibited goods/items as provided for in point i.
    2. The Customer has outstanding SDB rent.
    3. At the request of the APGAKUM, this is preceded by a request for blocking and/or confiscation under the prevailing law.
    4. Transfer to another branch office in the case of relocation and/or closure of the branch office.
  11. Termination of SDB services
    1. The Customer may terminate the SDB lease period at any time by notifying the Bank in writing before the expiry of the lease period.
    2. The Bank may terminate the SDB lease period and request that the SDB be returned in an empty state together with the keys at any time by notifying the reason thereof to the Customer, as long as there are no provisions of laws and regulations prohibiting such notification.
    3. In this case, the Customer and the Bank hereby agree and waive the provisions of Article 1266 of the Indonesian Civil Code.
  12. The Bank is not responsible for any events, conditions, and/or damage to the SDB that occur outside the Bank's control (Force Majeure) which results in damage/loss/destruction of goods stored in the SDB including but not limited to floods, fires and earthquakes. Therefore SDB Customer indemnifies the Bank from all claims for that event.
  13. If the SDB Customer dies, the rightful owner of his/her SDB will be the legal heir according to the provisions of prevailing laws and regulations. And in the event of the SDB Customer’s death, the SDB lease period shall be deemed over.
4. Cheque/Bilyet Giro
  1. At a Written request or otherwise as determined by the Bank, a Customer may ask for a Cheque/ Bilyet Giro books.
  2. A Customer shall be responsible for withdrawing Cheque/Bilyet Giro including Cheque/Bilyet Giro obtained from the Bank.
  3. A Customer shall be obliged to provide sufficient funds in the Current Account or special account with a minimum nominal value of the outstanding Cheque/Bilyet Giro.
  4. A Customer will not withdraw bad Cheque/Bilyet Giro for any reason.
  5. A Customer is willing to be sanctioned in the form of freezing the right to use the Cheque/ Bilyet Giro and/or having his/her identity listed in the National Black List (DHN), if he/she makes a bad Cheque/Bilyet Giro that meets the DHN criteria or because his/her Identity has been included in the DHN by another Bank.
  6. A Customer understands and comprehends that the withdrawal of a bad Cheque/Bilyet Giro that meets the DHN criteria is as follows:
    1. Withdrawing 3 (three) or more different bad Cheque/Bilyet Giro with a nominal value of less than IDR 500,000,000 (five hundred million Rupiahs) at the same Drawee Bank within a period of 6 (six) months; or
    2. Making 1 (one) bad Cheque/Bilyet Giro with a nominal value of IDR 500,000,000 (five hundred million Rupiahs) or more.
  7. A Customer shall be obliged to refund the remaining Cheque/Giro Bilyet to the Bank if the right to use his/her Cheque/Bilyet Giro is frozen, the Customer's Identity listed in the DHN or the current account closed at his/her own request.
  8. A Customer shall be obliged to fulfil his/her obligation to settle the bad Cheque/Bilyet Giro, the fulfilment of which shall be made within a period of 7 (seven) Business Days after the date of dishonour.
  9. Referring to the provisions of point h, a Customer shall be obliged to report and attach and enclose the determined supporting documents to the Bank no later than 10 (ten) Business Days after the date of dishonour, if the fulfilment of the obligation to settle the Dishonoured Cheque/Bilyet Giro is done outside clearing.
  10. A Customer is willing to be charged a fee in accordance with the applicable provisions, for each request for cancellation and rehabilitation of the Customer's DHN Identity to Bank Indonesia.
  11. A Customer is willing to have his/her Current Account closed if the Customer withdraws the Dishonoured Cheque/Bilyet Giro within the period of the imposition of DHN sanctions or other reasons agreed upon in the opening of the Current Account. With the closure of the account, the Customer shall be obliged to fulfil the requirements as stated in the terms and conditions of the Cheque/Bilyet Giro.
  12. A Customer understands that all claims and/or legal consequences arising from the withdrawal of the Cheque/Bilyet Giro made by the Customer shall be the responsibility of the Customer.
  13. A Customer understands and agrees to comply with the prevailing Laws regarding Cheque/Bilyet Giro, including but not limited to the Laws regarding the signing of Cheque/Bilyet Giro, full payment of stamp duty, and withdrawal of Cheque/Bilyet Giro.
  14. In the event that the Current Account is a joint account, all legal consequences arising from the withdrawal of Cheque/Bilyet Giro made by the signatories authorized by the Customer, where the withdrawal meets the DHN criteria shall be the responsibility of the Customers jointly and severally.
  15. The Bank based on internal considerations can suspend the right to use the Cheque/Bilyet Giro or close the Current Account even though the Customer Identity is not listed in the DHN.
  16. In the event of a dishonour and a freeze in payment for lost Cheque/Bilyet Giro, then:
    1. The Bank has the right to dishonour a Cheque/ Bilyet Giro that fulfil one or more reasons for the dishonour as determined by the Bank Indonesia.
    2. Blocking of lost Cheque/Bilyet Giro may only be accepted by the Bank at the request of the Customer in accordance with the Bank's internal regulations.
    3. A Customer understands the consequences and risks as well as is responsible for legal risks arising from the dishonour of the dishonoured Cheque/Bilyet Giro
OTHER TERMS AND CONDITIONS
1. Account Blocking and Debiting
  1. Upon written request from APGAKUM, including but not limited to authorized officials and/or agencies, in accordance with regulations, the Bank has the right to block the Customer's Account including the Joint Account, until there are further written instructions from the authorized officials/agencies to reopen or close the Account and submit the account balance to the authorized officials/agencies or to other parties appointed by the authorized officials/ agencies.
  2. The Bank has the right to block the Customer's Account, if:
    1. The Bank has received information that the Customer who has the account has died, but the Bank has not yet received the required documents in accordance with the Bank's internal policy to close the account.
    2. Based on the Bank's consideration in order to implement the Bank's prudential principle that the blocking action is a security measure for the Customer's assets or other reasons based on the Bank's internal considerations and/or as may be determined from time to time by the Regulator and/or APGAKUM.
    3. The Customer authorizes the Bank based on this GTC to block the Customer's Account in the event that there is a suspicion of fraud, reports of alleged criminal acts or other actions that contravene the laws and regulations.
    4. The Customer does not provide correct information and/or does not update the data in accordance with applicable provisions.
  3. The Bank may block the Account based on Customer's instructions on the grounds of the Customer's own consideration to block the funds existing in the Account, so that the Account cannot be used until there is a request or written instruction to unblock the account from the Customer or a forceful legal decision.
  4. As long as the Account status is blocked, the Customer cannot make a debit transaction, with the exception of transactions related to the fees mentioned below can still be made:
    1. Payment of interest
    2. Payment of tax on interest
    3. Imposition of stamp duty for Reports
    4. Imposition of administrative fees and service fees
  5. The Bank will immediately notify the Customer if the Bank finds an error that affects the Customer's Account balance. The Bank has the right at all times and shall be obliged to make corrections to the errors made by the Bank both in terms of crediting or debiting an impacted Account that is caused due to a mistake of a Bank staff or a disturbance in the Bank system.
2. The Customer Dies
  1. If a Customer (individual) dies, the Customer's account must be closed/disbursed. The closure of Account must be made by (the heirs) or successors according to the provisions of the applicable law and the funds in the Account will be paid to the heirs or successors in accordance with the provisions applicable in the Bank.
  2. If a Customer (individual) dies, the Bank has the right to ask the heirs for supporting documents and the heirs or the lawful proxy must provide the supporting documents in accordance with the provisions of the Bank.
3. Notification
  1. The Bank will notify the Customer through communication media deemed appropriate by the Bank.
  2. Every notification made by the Bank to the Customer, shall be in accordance with the applicable provisions, if there is no objection from the Customer until the time limit specified in the notification, the Customer is considered to agree with the contents of the notification and subject to the rights and obligations as provided for in the notification.
4. Change
  1. The Customer shall be obliged to immediately inform the Bank of any change in identity, including but not limited to changes in name, address, telephone number, and/or TIN, signature and other matters that are different from the information/data/ description available at the Bank, in accordance with Bank’s provisions. As long as the Bank does not receive notification of such changes, all transactions will be made based on the data available in the Bank and which has been declared valid.
  2. Every notification/instruction of the Customer as referred to in point 4.a above shall be binding on the Customer, and therefore the Bank will make the transaction according to the Customer's notification/instruction as long as the signatory of the notification/instruction has the right and authority to make such changes.
  3. The Bank has the right to make changes at any time to the internal provisions of the Bank. Such changes will be informed through communication media deemed appropriate by the Bank.
  4. For changes in benefits, costs, risks, and terms and conditions, the Bank will notify the Customer no later than 30 (thirty) Business Days prior to the enactment of the provisions.
  5. Without prejudice to the laws or regulations or legal provisions prevailing in Indonesia, the Bank has the right at any time without the obligation to make prior notification to the Customer to make changes to the applicable Terms and Conditions.
5. Language
  These GTC shall be made in Indonesian language and English, in the event of a difference in interpretation of these Terms and Conditions between Indonesian language and English, the Indonesian language will be used as an official (legal) document.
6. Subcontracts and Collecting Agents
  1. The Customer agrees that the Bank may transfer or subcontract the provision of any part of the services provided to the Customer to any third parties including to other companies that establish cooperation with the Bank, regardless of whether the third party operates within the jurisdiction or other jurisdiction. The Bank remains responsible to the Customer if it can be legally proven for any damage or loss that can be recovered that is borne or suffered by the Customer as a direct result of real negligence, violation or intentional error of a third party and to require that the third party maintain the confidentiality of the Customer's information is within the same limits as those applied to the Bank.
  2. The Bank has the right to use a collecting agent and/or any third parties to collect any overdue liabilities or amounts that have not been settled by the Customer. The Customer will continue to indemnify and provide compensation to the Bank for costs and expenses (including but not limited to the Bank for the cost of using the collecting agent and/or any other third parties as well as other expenses) which is a reasonable amount and is reasonably borne by the Bank for requesting, collecting, claiming or recovering such overdue liabilities or amount.
7. Special Rules and Provisions
  These GTC do not prejudice the special rules and provisions that apply at any time for each product and/or service provided by the Bank to the Customer, including but not limited for each product information and/or Bank services contained on the Bank’s official website https://www.commbank.co.id/. Therefore, the Customer is also bound by each of these special rules and provisions. In addition, the Bank also has the right to ask the Customer to sign additional documents deemed necessary by the Bank so that the Bank can provide the products and/or services related to these documents to the Customer.
8. Confidentiality
  1. The Bank will take reasonable precautions in ensuring that information, complete information or data relating to the Customer, his/her account, transactions and persons authorized by the Customer ("Information On Customer") remain confidential and will not be disclosed to other parties without any written approval from the Customer, except in the event that the Bank is required to disclose Information On Customer to any party required by the law, court ruling, government agency or other authorized party including but not limited to correspondent banks, or any third parties that establish cooperation with the Bank (both inside and/or outside the territory of the Republic of Indonesia)
  2. By agreeing to use Customer's data in the Account opening application, the Customer is aware of, approves and permits the Bank along with all Bank employees and agents as well as other parties who have access to records, lists, correspondence, information or material relating to the Account and/or personal information from the Customer both for commercial and non-commercial purposes in connection with the Bank's business activities or in general in order that the Bank can provide its services to the Customer, including but not limited to:
    1. Agent, contractor or any third parties as administrative services, telecommunications services, computer services, payment services or other services to the Bank in relation to the Bank's business activities.
    2. Any party (including third party providing services in connection with the use of third party products by the Customer) with a confidentiality obligation to the Bank which has agreed to maintain the confidentiality of the information.
    3. The Drawee Bank, by submitting a copy of the Cheque and/or Bilyet Giro that has been paid (which can contain information about the payee) to the Drawer.
    4. Credit reference agencies and, in the event of a breach of promise, to a debt collecting agent.
    5. The party who has received the transfer (the transferee) or prospective recipient of the transfer from the Bank or participant or sub-participant or recipient of the assignment of rights from the Bank (the assignee) in relation to the Customer.
    6. Market research institutions or agents deemed necessary by the Bank to conduct market research.
    7. Any third parties as deemed necessary by the Bank are limited to legitimate purposes of the Bank.
    8. Other financial institutions both inside and outside Indonesia, especially in relation to crime prevention in the financial sector, including but not limited to money laundering, terrorist financing or other similar unlawful activities.
  3. The Customer acknowledges that without the approval, the Bank will not provide such data or information for purposes other than those permitted by the applicable Law and/or those approved by the Customer.
9. Force Majeure
  The Bank may suspend the use of any or all Accounts or services as a result of force majeure and will not be responsible for any losses, damages, delays or failures in providing equipment, facilities or other services from the Bank to the Customer to the extent that they arise and/or caused by matters outside the Bank's control, including but not limited to equipment failures, unavailability of telecommunications and/or computer systems and/or services, natural disasters, epidemics, political disputes, national and/or international conflicts, violence or armed actions, disruption to civil society, war, takeover, civil strikes, labour disruptions (also occurring among Bank staff and/or employees themselves), interruption or disruption of operational activities or business of third parties or intermediaries utilized by the Bank, lockout, boycotts and/or orders as well as actions from the government.
10. Representations and Warranties
  The Customer hereby represents and warrants that he/she has understood and agreed to be responsible for the risks and/or losses that may arise beyond the mistakes and/or negligence of the Bank from the following matters, among others:
11. Authorization
12. Suspicious Transactions/Transactions that is not in accordance with Profiles
  1. The Customer understands and agrees that the Bank may refuse to process the transactions for an Account; or hold funds in an Account and limit the Customer's right to withdraw from an Account, if the Bank suspects that there are violations of these GTC and/or an act of fraud, legality or untruth in the transaction or funds.
  2. The Customer acknowledges that the Bank is subject to criminal Law in the financial sector, including but not limited to the Law on Corruption and Money Laundering prevailing in Indonesia and interna-tionally and the Bank has implemented an internal policy to ensure compliance with these Laws. For the above purposes, the Customer hereby agrees to provide:
  3. The Bank shall be obliged to comply with laws, regulations and requests from public authorities and regulators from various jurisdictions related to the prevention of financing, including terrorists and convicted persons financing. This matter may require the Bank to stop and investigate any payment instruction and other information or communication sent to or by the Customer or on behalf of the Customer through the Bank system, where this process involves requesting further information about whether a name can refer to the person mentioned or who received the sentence actually refers to that person.
13. Transaction Verification
  1. Verification of each transaction related to the account and/or facility shall be adjusted to the applicable signature specimen and other documents that can be received by the Bank and recorded with the Bank.
  2. The Bank with its authority may ask the Customer to show the Customer's identity in the form of the original Identity Card or other forms as requested by the Bank.
14. Conversation Records
  In providing its services, the Bank has the right to record instructions but not limited to verbal agreements received from the Customer and/or an oral communication between the Customer and the Bank in connection with such services.
15. FATCA and CRS
  1. The Customer understands and agrees that if the Customer is a tax subject based on the Foreign Account Tax Compliance Act ("FATCA") and/or Common Reporting Standard ("CRS"), the Customer shall be obliged to complete every document and/or form and/or information required by the Bank related to FATCA - CRS.
  2. If the Customer's status changes to a tax subject of FATCA and/or CRS, the Customer shall be obliged to submit this matter to the Bank within a period of 30 (thirty) Calendar Days after the change in status.
16. Special Terms and Conditions on Tax Requirements
  1. The Customer authorizes the Bank to disclose information regarding the Customer's taxation to the relevant taxation authorities both in Indonesia and outside Indonesia.
  2. The Customer is willing to fully cooperate in investigations that the Bank may conduct in terms of complying with any applicable Law. In this case the Customer is obliged to immediately provide all information and/or details and/or documents required in the investigation process.
  3. The Customer understands and comprehends that any amount that the Bank may pay to the Customer, will be subject to all applicable laws, including income tax requirements, foreign exchange restrictions or controls. In this case the Customer understands that the loss caused by the deduction, withholding or storage of money shall be the full responsibility of the Customer.
  4. The Customer agrees that the Bank has the right to take actions that the Bank deems necessary to fulfil any obligations, both domestic and foreign taxation, relating to the prevention of tax evasion, including but not limited to investigation and retention of payments to and from Customer's accounts, source investigations or the recipient of the relevant funds, providing information and documents to the tax authorities. The Bank, by virtue of its internal considerations, may refuse to make Customer transactions.
17. Bank Privacy Statement
  The applicable provision in this GTC refers to the Bank’s Privacy Statement that is available in the Bank’s official website https://www.commbank.co.id (follow the Privacy Statement link).
18. Customer Complaint Handling
  1. The Complaint Handling Submission Mechanism
    1. Customer can submit complaint through Bank Commonwealth channels, as follow: Branch, Call CommBank, Email, and Internet Banking/Mobile Banking (Service Menu – Mailbox).
    2. Complaint Resolution Time Frame:
      
      Verbal Complaint - 5 (five) Working Days This also applies to Complaints that have elements of the Customer's Understanding as follows:
      
      Request for information regarding products and/or services used by the Customer and/or the Bank's internal provisions regarding the products and/or services provided by the Bank;
      
      Customer complaint procedures; and/or
      
      Other information regarding products and/or services that the Customer needs to know.
      
      If the Bank requires supporting documents for the Complaint submitted by the Customer and/or Customer Representative in verbal, the Bank can ask the Customer and/or Customer Representative to submit the Complaint in writing by attaching the required supporting documents.
  2. Written Complaint
    1. 20 (twenty) Working Days since supporting document received. Customer must complete all Supporting Documents as regulated on these GTC.
    2. The next 20 (twenty) Working Days In certain conditions, Bank may extend the time to resolve a complaint up to maximum of 20 (twenty) Working Days with prior written information to the Customer, if there’s conditions as below:
      
      The office/branch that receives the complaint is not the same location as the office/ branch being complained about; and there’s communication issues between the branch offices.
      
      For Complaint received from customers/customer representatives requires further analysis specifically for the Bank documents; and/or
      
      There are other matters that are beyond Bank’s control, such as linkages/involvement with third parties outside the Bank:
      
      The Complaint resolution requires follow up by other parties, and
      
      The follow-up required of other parties affects the period for resolving the complain
  3. Supporting Document
    1. If Bank requires supporting documents for a Complaint submitted by the Customer verbally, the Bank entitled to request to the Customer to submit a written complaint by submitting the required supporting documents.
    2. The Bank will handle the Complaint in writing if the Customer has completed the new documents:
      
      Customer/Customer Representative’s Personal Data :
      Customer’s/Customer Representative’s full name according to the Electronic Identity Card (eKTP)/Passport (Foreign Customer);
      Fotocopy Electronic Identity Card (KTP)/Passport (Foreign Customer);
      Account Number/Debit Card Number;
      Customer/Customer Representative’s contacts, such as: fixed phone/Mobile Phone numbers and addresses (email/ correspondence address).
      
      Supporting Documents :
      (i) Legal Power of Attorney if the Customer has one in place and is to be represented by their Attorney in the complaint process;
      (ii) Photocopy of Family Card and/or Birth Certificate for Customers who are not yet 21 (twenty one) years old;
      (iii) Transaction documents, credit agreements,
      (iv) police certificates,
      (v) other documents related to the subject of the complaint;
      (vi) Indemnity letter/statement that protects PTBC from any legal action claimed by customers (if it is related to a suspected financial crime and/or transaction cancellation request)
      Customers/Customer Representatives can provide supporting complaint documents to PTBC within 20 (twenty) working days, and can be extended by another 20 (twenty) working days if there are certain conditions as reffered:
      the required documents are not in the Customer’s possession;
      and/or there are other things that are beyond the control of the Customer.
  4. Banks have the right to refuse to handle Customer Complaints if:
    1. The Customer does not complete the document requirements in accordance with the specified time period. A Customer who does not complete the document is considered to have canceled his/her Complaint.
    2. Documents provided by the Customer/Customer representatives are presumed to be forged.
    3. The previous complaint has been resolved by the Bank. Complaints that have been resolved consist of:
      
      Complaints that reach an agreement; or complaints that do not reach an agreement.
      
      Complaints are not related to material, reasonable, and direct losses and/or potential losses as stated in the agreement and/or financial transaction documents.
      
      Complaints are not related to financial transactions issued by the Bank.
  5. If the Customer rejects the response to the objection and/or Complaint from the Bank, the Customer may choose a dispute resolution through the court or out of court.
  6. If the dispute resolution is carried out outside the court, the provision of dispute resolution services will be Alternative Dispute Resolution Body of Financial Services (LAPS-SJK).
19. Others
  1. These GTC and all legal consequences thereof shall be subject to the laws prevailing in the Republic of Indonesia
  2. If the Customer does not comply with his/her obligations under these GTC, and if the Customer's actions or the Customer fails to take an action that cause or contribute to the loss of the account (losses in any form, taxes, expenses, fines, fees or penalties, suffered or issued by or submitted to the Bank), then the Customer agrees that the Bank has no responsibility against the Customer related to such loss.
  3. The Customer acknowledges that the Bank shall be responsible for the Customer only limited to real direct losses of the principal amount that is wrong or wrongly withdrawn from the Account that is legally proven to be caused by the Bank's negligence or an unintentional error.
  4. The Bank at any time may transfer or assign any or all of its rights and obligations under this GTC to any party where the Bank will notify the Customer of such transfer or assignment as long as it does not conflict with the provisions of applicable Law.
  5. All authority granted by the Customer to the Bank under these GTC shall be as follows:
    1. Irrevocable.
    2. Allow full substitution rights.
    3. Permit the full representation of the Customer, anywhere and to anyone, in all matters and acts with regard to the granting of such authority.
  6. If a provision in these GTC is declared or determined to be unlawful, invalid or unenforceable under the prevailing laws, then such unlawfulness, invalidity, or unenforceable terms and conditions will not affect the other provisions of these GTC and therefore these other provisions will remain in full force and effect.
  7. The Bank and the Customer waive the provisions of Article 1266 of the Indonesian Civil Code but only to the extent that a court verdict is needed to terminate the Terms and Conditions between the Bank and the Customer.
  8. With regard to these GTC and all the consequences thereof, the Customer and the Bank choose a permanent and general place of legal domicile at the Clerk's Office of the Court of First Instance at the Bank’s place of domicile, however, without prejudice to the Bank's right to file a lawsuit to the Customer before another court of law.
  9. The Customer agrees that the Bank does not facilitate and has the right to cancel transactions relating to countries included in the list of international sanctions caused by terrorism or unlawful acts, and/or other parties suspected of having links with acts of terrorism and acts against the law under the provisions of prevailing laws and regulations.
  10. Disputes that may arise with regard to the matters as stated in the Bank’s form, GTC, as well as other supporting documents will be resolved or settled through deliberation or discussion leading to mutual consensus. If after 30 (thirty) Business Days of the dispute, settlement through deliberation or discussion leading to mutual consensus has not been reached, then the Parties agree to settle all differences in interpretations or disputes through a District Court and for this purpose the parties shall choose a permanent and general place of legal domicile at the Clerk's Office of the South Jakarta District Court in Jakarta.
  11. This agreement is in conformity with the requirements of prevailing laws and regulations including regulation of the Indonesia Financial Service Authority.
  12. PT Bank Commonwealth is incorporated and licensed in Indonesia with limited liability and a subsidiary of PT Bank OCBC NISP Tbk (OCBC).
  13. The Customer hereby declares that he/she has read, understood and agreed to these GTC. If there are any additions, changes and/or updates to the applicable Bank's GTC, the Bank will inform the Customer in advance through the website, electronic mail (e-mail) or other communication media no later than 30 (thirty) Business Days before the intended additions, changes and/or updates are effective.

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