Opening Terms and Conditions: | ||
The hereunder stated terms and conditions shall constitute a complementary part to the account opening application form “The application” signed by the applicant “The Customer” for the purpose of opening an Account “The account” with any of Jordan Ahli Bank Branches in Jordan “The Bank”. The Signature on the application shall constitute a full declaration that the Customer has reviewed, comprehended and agreed to these terms and conditions. | ||
· Definitions: · The following Words and phrases as provided in this application shall have the same meaning ascribed to them hereunder unless the context indicates otherwise: · Bank: Jordan Ahli Bank. · Account Holder, Client, and Customer: Any natural or juridical person(s) who deals with the Bank as per the account types mentioned in this application, and who signs this form and the application for account opening and the application for a Debit Card / Cards in his capacity as the Account Holder or a party to the Account, whether such account is a joint account or an additional Cardholder. · Account: The account opened with the Bank in local or foreign currency, whether interest bearing or non-interest bearing. · Expenses: All stamp duties, all post, telephone, telegraph, telex, transportation and travel and notification charges, foreign exchange differences, collection fees and commissions and all banking costs and commissions, fees (Including legal and expert’s fees) and any other fee the Bank may incur as a result of litigation and arbitration, the enforcement of judgments and securities. · An Account number: The Bank shall assign a number for each account, which shall be used by its holder on all the correspondences with the Bank in relation to said account, and for any withdrawal or deposit and other operations) from or into the account (. · Electronic Services: The electronic services which the Bank mentioned in these terms and conditions, renders to the Customer. · Debit Card: It is an electronic Card that allows its holder to withdraw cash from the ATMs of the Bank or of other Banks (in the event of the presence of agreements for the use of the Card through them, whether locally or internationally) in addition to cash deposit service or payment for purchases through direct debit from the account, as this Card can be used only for the amount available in the account/ linked accounts/secondary accounts balance. It is also a Card issued and granted by the Jordan Ahli Bank, whether with local, international or regional trademarks. · Personal Identity Number (PIN): It is a four-digit number that is given to the Customer either by a sealed envelope or by a text message on his/ her mobile phone number or manually entered by the Customer on a (PIN PAD) device for use simultaneously with the transaction executed by the Customer. The Customer acknowledges that his/her/its use of the PIN is the same as signing or authorizing the Bank to debit the account with the amount of the transaction. · A minor: a person or individual who has not completed the age of (18) years. · PAW (Payment Application World): An account that is free to withdraw and deposit at any time and within daily limits set by the bank through electronic channels (ATMs, POS machines and PAW payment application). | ||
General Conditions Applicable on all Accounts: | ||
1.Without the need to obtain the Customer’s prior consent, the Bank is authorized to charge any of the Customer’s accounts such out-of-pocket expenses as may be incurred in connection herewith in the form of postage, fees duties interest, commissions, taxes, and stamp duties and other charges either these expenses are paid on the Customer’s behalf of that the same incur or bear on behalf, or those which result from any transaction. | ||
2.The Customer authorizes the Bank to debit its dues to the Customer’s account regarding all types of commissions, discounted bills or letters of guaranteed issued or commercial and financial papers, promissory notes, bought securities, or others. In case of Customer’s default in his/her contractual obligations, and after the same being served with a notification on the address thereof as is in the records of the Bank, the Bank will at any time freeze or close any account opened in the name of the Customer with the Bank and to request the Customer to pay at first demand the amount of any debit balance along with accrued interest and other expenses regardless of any guarantees or securities given to the Bank linked to his account. | ||
3.The Bank shall have full right to withhold all Customer’s funds, securities, financial papers, deposited with the bank, as well as all credit balances, deposits and any other money of whatsoever nature kept for the Customer by the Bank, in present or in future, in whatever account or branch of the Bank in favor of the bank, who shall have the right to collect any amounts for which the Customer is indebted, owes , such amounts shall be considered a security and guarantee for the repayment of any amount, interest and/or costs expenses due for the Bank as per its records with respect to the accounts of the Customer, and the Customer hereby waives his right to object against the same, whereby the bank’s records and books are conclusive, irrefutable evidence against the same. | ||
4.The Customer irrevocably authorizes the Bank in his sole decision to debit the account and to dispose, according to its absolute discretion; of any withdrawals that take place with the knowledge of the Customer such as checks transfers or payment orders or any other transfers without having sufficient funds to cover it in the current account of the Customer. By considering the Customers deposits as guarantee, the Customer authorizes the Bank to transfer the deposit(s) to cash collateral account(s) in return of banking facilities, and to settle on due dates without any notice or notification or any other legal action, and the Customer shall not have the right to revoke such authorization except upon the written consent of the bank. | ||
5.The Customer specimen signature as it appears on the bank’s special card is considered legal and binding for any transaction with the Bank and in case any application or order for payment of a cheque carried a different signature, the Bank may, according to its absolute discretion, execute the transaction or refrain from the same, even if a letter or an affirmation from the Customer is provided. | ||
6.The Customer acknowledges that the bank’s books, records, statements and entries whether in ordinary or in electronic full and in all types and forms shall be considered correct, conclusive, and binding against him, and he shall not object against or contest the same in the future for whatever reason, unless the Bank receives from the Customer a written objection thereto within a period of (15) days from the date of sending such statement, notice, or else. The Customer hereby finally and irrevocably waives his right of requiring the decisive oath to the bank’s Chairman of the Board of Directors, and or Members of the Board of Directors and or the General Manager, the Chief Executive Officer and/or any of the Employees of the bank, in respect of any proceedings that relates to the bank, whether civil or criminal, and for whatever reason. | ||
7.The Customer shall accept cash deposits credited into the account by any third party unless the same submits a written request to refuse such deposits, and such request shall become effective the next working day after its submission. | ||
8.The Bank shall accept objections against the honoring, encashment of any cheques if a written and signed request to that effect was submitted by the Customer on the form accepted by the Bank, and in accordance with the provisions of the law. | ||
9.The Bank shall bear no responsibility in respect of any changes affected to the Customer’s written cheques, with the spaces of which have been filled out by electronic, electric, or other typewriter. | ||
10.The Customer shall not hold the Bank liable in case the Customer requested that all correspondence and notifications be held in file and the Bank so accepted, the Customer shall waive his right to claim any damages, or invoke any liability that may result from the aforementioned, the Customer acknowledges that the address provided to the Bank is the approved address for correspondence, and that such address is a valid address for receiving all correspondence addressed thereto in accordance with the provisions of Article 25 of the Regulations Governing Fair and Transparent Transactions with Clients No. 56/2012 and any amendment thereafter. | ||
11.The Bank shall have the absolute right to off-set (conduct clearing) between the amounts deposited in the accounts of the Customer receivable and payable in any of the branches of the bank. In case such off-set was not made, the Bank may debit interest to the overdrawn accounts, and the Customer hereby waives his right to object against not performing the off-set (clearing). | ||
12.In case of the Customer having several obligations towards the Bank either loans, overdraft, credit cards or any other facility, the Bank has the right to choose the account or the facility or loans to cover without any responsibility. | ||
13.The Bank shall not be obliged to meet Customer’s requests of foreign currency withdrawals from his foreign currency accounts unless such currency is available in the local market, provided that the maximum one- time withdrawal not to exceed the specified amount by the Bank. The Customer is requested to give the Bank a prior notice of at least two working days before the withdrawal date. | ||
14.The Bank shall bear no responsibility in the event of any loss of cheques sent for collection by mail (whether local and/or foreign) and for reasons beyond bank’s control or power. | ||
15.I bear all material damage and loss that may arise from the suspension of cashing the cheque/cheques mentioned above and recording on my account any sums resulting from stopping the cheque / cheques. | ||
16.You are not responsible for cashing the cheque/ cheques due to errors or omissions and / or the incorrectness of the data provided to you by me / us. | ||
17.To notify you in writing of the cancellation or suspension of any order issued by me / us to cash the cheque/cheques. | ||
18.I authorize you to reserve the value of the cheques and place them in an insurance account as soon as any of the above checks are presented to you on condition that there is sufficient balance in the account and that it is understood that I have no right to claim the value of the insurance except in the following cases. · Evidence of reporting (to the competent security or judicial authorities) that the cheque/cheques have been lost or stolen. · Evidence of bankruptcy of the check holder · That the drawer submits a judicial decision on the legitimacy of the reason for the opposition. · The drawer submits a court decision to freeze the procedures regarding the cheque / cheques. · That the drawer submits a settlement concluded with the beneficiary as per the rules. · The drawer must present the original of the cheques. · The expiry date of the cheque, which is five years and one month, from the date of return. | ||
19.In the event that a request to reserve an amount (insurances) is not submitted for the purposes of stopping the cash disbursement and / or there is not enough balance available in the account, then it is understandable to me that I will be notified for the purposes of including my name on the list of returned cheques unit unless I provide the Bank with what was stated in term (18) above. | ||
20.It is understood that any cheque deposited for collection in my account will be deposited with you, the Bank will present it in accordance with the usual procedures and during a reasonable period of time, and I declare the Bank of any liability arising from the delay in submitting the cheque for collection or delay in the collection process and depositing the cheque in my account for any reason. | ||
21.The Bank reserves the right to close or refuse the opening of any account without giving any reason, and in case it became evident that any document or information provided by the Customer was false, or that the Customer’s name is listed on the blacklists, or upon the bank’s absolute discretion. | ||
22.The Customer acknowledges that the Bank shall bear no responsibility nor liability as a result of any diminution or devaluation in the value of funds credited to the account , or for the non-availability or transferability of such funds as a result of forfeiture, compulsory transfers, civil strife, exercise of military or usurping power or to any other cause to event of force majeure , national strike, national unrest, or emergency situations of whatever type of nature, so long as the same are beyond the control of the bank, in which case the bank, any of the branches, offices, and affiliates thereof, shall not be responsible for the consequences of the aforementioned on the accounts of the Customer, this shall also include any judicial or administrative attachment applied by whatever entity, even if the Bank nor the Customer were parties thereof, and whether the same was civil or criminal. | ||
23.The initial credit entries of cheques (available for collection or direct deposit) or any other instruments paid into the account will only become final upon due clearance and collection of the proceeds of such cheques and instruments, in case of non-clearance /non collection of any cheque/instrument, the Bank will automatically cancel any entry made thereof in the account. the Customer acknowledges that the bank’s records shall be considered the only conclusive final evidence of the balance of the Customer in the account/accounts thereof, and the Customer authorize the Bank to reverse any such entries made on the account in error, and he releases the Bank rom any liability resulting therefrom, and the Customer undertakes to notify the Bank immediately upon discovery of any error, the Bank and to return any amounts erroneously withdrawn from the as soon as the error comes to his knowledge, and/or upon the Bank first request and without an objection thereto. | ||
24.The Customer unconditionally agrees that all, monies, shares, bonds, securities bills documents, and other valuable assets and possessions whether held in his name by the Bank as collateral or as deposits including the content of the safe deposits boxes, shall be considered security to guarantee the payments of any debit balance therein as debtors and/or guarantors to the bank, regardless of how the ineptness was incurred or whether it is actual or potential. and whether in bank’s Jordan branches or overseas branches, and the Customer irrevocably and unconditionally authorizes the Bank to dispose of or sell assets at the price time and method it choses and to whomever it choses at its discretion without having to refer to him or notify him, serve him a notice or a warning, or else, and without the same having any right to object or appeal against such measures. | ||
25.The Customer irrevocably authorizes the Bank in the event of suspicion of money laundering transaction or any transaction might be considered illegal in respect to any of his accounts thereof with the bank, to refrain from executing any transaction on the account, freeze the account, take the due procedures, and notify the Central Bank accordingly. And the Customer releases the Bank from any liability that may result from the stopping any transaction, whether withdrawal, deposit, transfers… or other on the account. | ||
26.Information and data acquired from the Customer is subject to banking confidentiality and secrecy provisions. | ||
27.The Customer shall not object to the Bank freezing or suspending any of the accounts, or any monies / amounts received to his benefit from any source whatsoever. And debit the accounts of the Customer with the operating expenses of administrating the account, being the cost of maintaining the account open on its records, and the Customer shall not have the right to object/appeal against. | ||
28.The account shall be considered frozen in the event of no movement to the account (no withdrawal from/ deposit into), and within the periods specified below from the date of the last withdrawal/ deposit: A. Six months for current and demand accounts. B. Two years for saving accounts. C. Three years for term deposit and notice accounts. The periods stated above are subject to modification by the Bank in case of any new regulations issued by Central Bank of Jordan. | ||
29.A credit or debit transaction – except withdrawal transaction – or the encashment of a check drawn therefrom shall not be enough to reactivate an account. | ||
30.The Customer understands that in case the balance of the account thereof remained under the minimum that the Bank specifies, or in case the account was frozen, he authorizes the bank, in any time the same deems appropriate, to charge such account with under minimum balance commission and the operating expenses of administrating the account,( account open in the records of the Bank), and the same shall not object or appeal against the aforementioned. | ||
31.The frozen account may only be activated upon the presence of the Customer in person, or the presence of an attorney thereof pursuant to a notarized power of attorney or an authorization approved by the Bank to request the reactivation of the account, and upon verifying the identity of the Customer or the representative thereof, and the signature thereof on an acknowledgement of the accuracy of the account balance in the respective date, or in the event of the Customer’s presence in person, or any person representing the same depositing or withdrawing from the account. | ||
32.The Bank shall have the right at any time at its discretion and without disclosing its reasons to close the account In the event the balance becomes zero , the Customer, as per his free well, authorizes the Bank, at any time it deems appropriate, to close the account without showing any reason, and therefore, the Customer releases the Bank, after the account is closed, from any duty to comply with any instructions he had issued regarding the account, whether in respect of suspended cheques, standing orders, and/or any other procedures even if the account becomes operative again for any different reasons, and without the Bank bearing any responsibility , liability as a result of such actions, and the Customer hereby irrevocably waives in advance, any right that can be used against the Bank legal or otherwise, the Customer undertakes to return the checkbook(s) in his possession upon closing the account, and he irrevocably and absolutely authorizes the Bank to close the account and/or the Accounts with the Bank in the event the account and/or the accounts were misused, such as, drawing a cheque against insufficient credit balance without the Bank bearing any responsibility of the aforementioned. | ||
33.The Customer understands that all deposits in and withdrawals from the accounts in foreign currencies, as well as the expenses and interests relevant thereto is subject to the instructions of the Central Bank, and/or the administrative instructions applicable within the bank. | ||
34.In the event of Customer’s death, no credit interest will be credited into the account, according to the type of the account, and the current account will be closed. | ||
35.A- The Customer (s) accept(s) that the Bank will notify the Central Bank and/or any Entity the same approves, and/or all the Entities that the Bank have the right to notify in accordance with the banking Laws and the return cheques which refers to handling of returned checks withdrawn by the Customer/Customers from any of their accounts with the Bank and which are returned for whatever reason, and applying on Customers all the instructions of the Returned Cheques Unit of the Central Bank of Jordan and / or any other entities that the Bank has right to notify in accordance with respective law. B -The Customer shall have the right to authorize others using a banking authorization letter approved by the Bank or by a notarized power of attorney that should be approved by the legal department within the Bank to verify the accuracy and the validity thereof, and the authorized body shall exercise all the privileges of the original account holder within the scope of the authorization or the power or attorney, and in the event such authorization is terminated, the Bank shall be notified of the fact in writing and/or by fax or by electronic services, or in person, and the Bank shall, as per its absolute discretion, accepts to cash cheques and other instruments signed under the previous authorization in the event cheques and other instruments had dates prior to the new instructions date, and are submitted after the new instructions were effected. | ||
36.The Customer shall notify the Bank with any changes taking place in the names of the authorized signatory(ices) of the account and/or the accounts with the bank, the conditions of their authorization, or any change in the scope of their authorities or any changes that may affect the type or the legal status of the company, changes in the objectives or capital and in general any changes that affect the legal position of the company as soon as such change take place, provided that the Bank shall not be responsible for such changes except from the date the same receives a letter from the Customer informing of the change, and the Bank shall have the right to in cash any cheque or payment orders in case the same carried a prior date or were submitted to the Bank prior to the date of the change in the authorized persons. As for the checks and payment orders signed by the previous authorized signatories, which hold a later date for the amendment of the authorized signatories, these orders, which had been received before the date of the amendment, the Bank has the right to implement them. | ||
37.The Bank is entitled to reject or refuse any power of attorney in the event it was issued or organized in a date beyond a specific period determined by the bank’s bylaws and regulations. | ||
38.The Customer hereby authorizes the Bank to inquire about him through the Returned Cheques Units within the Central Bank of Jordan and/or any other Bank. | ||
39.It is forbidden for Ahli Bank Customer to use the personal account for commercial purposes. | ||
40.We agree that these General Terms and Conditions shall apply to all accounts whether opened at the time of signing this form or at a later or prior date. | ||
41.The address as indicated on this application form shall be the only valid one. We declare and agree that any communications or notices sent to us (including judicial notices ) on the mentioned address in relation to the account shall be deemed notified to and received by us upon posting and shall constitute conclusive evidence against us .The Bank shall be under neither the obligation nor bear any responsibility resulting from any delay or loss of post to our address ,We waive unconditionally and irrevocable our right in raising any contestation in this respect including the invalidation of notification ,before any concerned party. | ||
42.We undertake to notify the Bank in writing of any change in our address otherwise the address provided herein shall be the legal and valid one on all banking correspondences as mentioned in these Terms and Conditions including judicial notifications. | ||
43.The Customer authorizes the Bank, as per its discretion, to overdraw the account, and to charge his account with accrued interest. and authorizes the same to charge his account with the amount of any Bill promissory notes, Cheques or other documents whether on a collection basis or otherwise , and to credit the account with other balances available from other account opened in the name of the Customer with the Bank or with any other branch thereof as a cover to all the Customer’s liabilities to the Bank , The balance of the account or any other account of the Customer will not be paid to him until the full settlement of his accounts . And the Bank shall have the right to off-set the balances of all the accounts opened in the name of the Customer with the Bank, including the accounts open in any other currency. Overdrawing of the account, shall not be considered as an overdraft facility but an easing to him that he shall be obliged to repay within a period of no more than thirty days from the date of any overdraft. | ||
44.In the event the Customer received any banking facilities of whatever nature, and in case of nonpayment, the Bank shall transfer amounts to the cash collateral account from clients deposits accounts, in order to insure the payment of the granted loan, and the Customer fully authorizes the Bank to charge his account with any amounts due on the Customer in addition to the debit interest and any other expenses after claiming any dues against the Bank; such obligations shall be off set against the cash amounts seized in the cash collateral Account in return of banking facilities without referring to the Customer and without the need to give any notice or any other prerequisites, and the Customer shall not have the right to object against such measure, being a legal measure for which the same has given prior approval, and the Customer acknowledges that the cash collateral account is an internal account of the bank, of which the same may not dispose of, and the same is for the order, and in the name of the Bank and/or in the name of the bank/and the name of the Customer. | ||
45.The Bank has the right to close or suspend or freeze the account in case the Bank asks for Customer’s data updating and the Customer refuses or does not respond within the period determined by the bank. | ||
46.The Non-Jordanian client acknowledges to provide the Bank with a copy of the passport once it has been renewed and the Bank has the right to gradually stop some financial transactions and services provided to the Customer in case that he is not provided with this. | ||
47.The Customer hereby freely gives the Bank consent to collect, use, disclose, share, transfer and process his personal information/data set out in his application form, account opening documents and/or otherwise provided by him or possessed by the bank, for one or more of the purposes as stated in the bank’s Privacy Policy at the link: https://ahli.com/privacy-policy], which in summary includes but is not limited to the following: a.Processing his applications for and providing him with the services and products of the Bank as well as services and products by external providers provided through the bank; b.Administering and/or managing his relationship and/or account(s) with the bank; and c.Sending him marketing, advertising and promotional information about other products/services that the bank, the bank’s affiliates, business partners and related companies may be offering, and which the Bank believes may be of interest or benefit to him (“Marketing Messages”), by way of postal mail, telephone, text message, electronic mail, facsimile or other mean (as set out in any application form, account opening documents and/ or otherwise provided by the Customer or possessed by the bank);(collectively the “Purposes”) | ||
48.The Customer’s hereby acknowledge and agree that his personal data may/will be disclosed by the Bank to its third party service providers or agents (including its lawyers/law firms), which may be sited outside of Jordan and the European Economic Area (EEA), for one or more of the Purposes, as such third party service providers or agents, if engaged by the bank, would be processing the Customer’s personal data for the Bank for one or more of the Purposes. | ||
49.By signing these Terms and Conditions, the Customer give his explicit consent as is required under the applicable legislation for this processing. | ||
50.The Customer hereby acknowledge and agree that the Bank shall process his personal data by means of automated reading, verification of the authenticity and other automated processing of photos and scanned copies of documents and with further check against the data in multiple databases, including inter alia International politically exposed persons (PEPs) and Sanctions, Country Specific Sanctions Lists, Criminal Lists and Financial Lists. | ||
51.The consent for the processing expressed hereby covers the following operations: collection, recording, organization, structuring, storage, adaptation or alteration, retrieval, consultation, use, disclosure by transmission, dissemination or otherwise making available, alignment or combination, restriction, erasure or destruction. | ||
52.The Customer hereby represent that he has been informed of the fact that his biometric personal data will be processed, and he hereby gives his voluntary, unequivocal and informed consent hereto. | ||
53.The Customer hereby represent that he has been informed about his right to: | ||
I.Withdraw his consent to personal data processing at any time, if he does withdraw his consent, this will not affect any processing which has already happened, or any other processing of his data not in relation to this consent but will mean that the Bank will stop processing his data for the purposes outlined above. | ||
II.access and adjust his personal data; | ||
III.Make a justified demand in writing for the blocking of the processing of his data due to situation. | ||
IV.object to the processing of his personal data. | ||
V.Object to the transfer of his personal data, including the right to object to engaging any of the bank’s contractors to processing his personal data. | ||
VI.Object to being subject to a decision based solely on automated processing/profiling. | ||
VII.Make a justified demand in writing to erase his personal data subject to applicable laws | ||
VIII.All which rights may be exercised by contacting the Bank at No. 06-5656300. | ||
54.The Customer understand that if he is dissatisfied with how Bank uses his data, he can make a complaint to any government body in charge. | ||
55.All messages whether, registered and/or standard and/or sent by facsimile and/or microfilm and/or scanned and/or SMS extracted by the Bank for its records, books, accounts and the contents of its files are considered legal evidence, in which the borrower/client and the guarantor(s) waive beforehand any legal right that allow them to appeal and/or require a conclusive oath from the Chairman and the Board of Directors members of the Bank, its General Manager or any of its employees. | ||
56.The Customer hereby represent that he has carefully read all the above provisions and does voluntarily and unequivocally agree with them. | ||
57.The Terms and Conditions shall be governed by and constructed in accordance with the laws of the Hashemite Kingdom of Jordan, and in the event of any claim or dispute arising from the relationship between the Bank and its Customer or otherwise shall be subject to the jurisdiction of the Court of Amman, Palace of justice in any claim from the side of the Customer against the bank, or from the side of the Bank against the Customer; and the Bank may, upon its absolute discretion, recourse to any court inside or outside the Hashemite Kingdom of Jordan if it so desires, with regard to the place of residence of the Customer, the relevant branch, or the place where monies of the Customer exists, and the Customer shall bear all the fees, legal expenses, and attorney fees in case the Bank raised a lawsuit of any claim relevant to the account and the Customer hereby irrevocably authorize the Bank to charge the same on the account of the Customer. | ||
58.The Bank shall abide by the provisions of the Temporary Law on Governmental appropriation of lapsed monies No. 35 of the year 85 and its amendments or replacements. | ||
59.Customers’ complaint resolution unit shall be considered the sole reference for reviewing and processing the complaints of the Customer, and in case of any complaint, the Customer may contact the Unit though various communications means, whether through visiting in person the Unit’s office, or through paper or electronic mailing services. | ||
Declaration Regarding Standing Instructions Orders: |
1.I / we understand that if there are insufficient funds my/our account (Auto pay out only) on a pre-specified number of occasions as advised by the Bank, the Bank may terminate my/ our instructions. |
2.I / we understand that any fees/charges levied (including any commission, postage or stamp duty) and shall be debit to my/our mentioned account without any objection from my/our side. |
3.I / we understand that the Bank shall bear no responsibility for any loss or delay that may occur in the transfer ,transmission and/ or applications of funds or(in the case of remittance by telegraphic transfers )for any error omission or falsification which may occur in the transmission of any message or for its misinterpretation when received and I/We agree to indemnify the Bank against any action ,proceedings, claims and /or demands that may arise in connection with such loss delay error, omission , falsification or misinterpretation. |
4.The Customer authorizes the Bank to assert any information or documents requested by any other entities that the Bank has right to notify in accordance with respective law, or requested by transaction or services nature provided by the Bank or requested by the Customer, and also the Customer authorizes the Bank to exchange information or documents with other banks or if it was needed by the AML regulations adopted locally or internationally. |
5.The account of the individual institutions owned by individuals is considered the same as accounts opened by the owners of these individual institutions and the authorization issued by the owners of these institutions will be consider binding on their personal accounts as well as their individual institutions accounts. |
6.The Customer will take full responsibility of any occurring risk in the event he accepts to send instructions to conduct transactions using Fax or Telex or Phone or E-Mail, and the Bank shall bear no responsibility for any occurring risk resulting in acting on Customers request sent by any of the above-mentioned means. |
7.The Customer undertakes to provide the Bank with all requested documents and within the specified period set by the Bank otherwise the Bank has the right to close all Customers’ accounts. |
Current Account Terms and Conditions: |
1.No credit interest shall be paid on credit balance unless otherwise agreed. |
2.The Customer authorizes the Bank, as per its discretion, to overdraw the account, and to charge his account with accrued interest. and authorizes the same to charge his account with the amount of any Bill promissory notes, Cheques or other documents whether on a collection basis or otherwise , and to credit the account with other balances available from other account opened in the name of the Customer with the Bank or with any other branch thereof as a cover to all the Customer’s liabilities to the Bank , The balance of the account or any other account of the Customer will not be paid to him until the full settlement of his accounts . And the Bank shall have the right to off-set the balances of all the accounts opened in the name of the Customer with the Bank, including the accounts open in any other currency. Overdrawing of the account, shall not be considered as an overdraft facility but an easing to him that he shall be obliged to repay within a period of no more than thirty days from the date of any overdraft. |
3.The Bank will not accept any check drawn on it or deposited with the collection fees unless it is issued on the forms issued by the banks for this purpose, accordingly The Customer agrees not to withdraw from the account except by cheques provided to him by the Bank and on the forms approved by the bank, and the Bank may without any responsibility thereon refuse the encashment of all other any cheque ,and the Customer shall undertake to safe keep his cheques book, and shall be liable for any loss or damage resulting from its misuse by theft , fraud or mistake or by loss mail from date of dispatch and undertakes to inform the Bank in case of loss or theft. |
4.Checkbooks may only be issued for current accounts. |
5.The Customer undertakes to keep received checkbooks upon his request and the approval of the bank, in safe custody, and to notify the Bank in writing within 24 hours in the event of loss or theft or forgery., and in all events, the Customer releases the Bank from any liability arising therefrom and/or from forgery and/or from dispatching the same by post. |
6.The Bank shall deduct a returned cheque commission without balance /or in the case of insufficient balance on the Customer’s account of (20) dinars for the first cheque and returned on the client’s account and (40) dinars for the second cheque returned on the client’s account, whether the same cheque or any other cheque without any increase or decrease in the amount Commission, provided that the commission is collected from the client’s account whether there is balance in the account, or there isn’t the Bank has the right to modify these amounts in case it is modified by Central Bank. |
7.The Bank shall bounce (return) overdrawn (uncovered) cheques, and shall have the right to notify the Central Bank of Jordan with that fact in case the cheque was not settled within a period of 15 working days from the next day the date it was returned, in which case the name of the Customer will appear on the list of Customers with returned cheques maintained by the Central Bank of Jordan and commission will be charged to the client’s account without referring to the Customer, noting that article 421 of the Law penal code No. 9 of the year 1988 states the following: Person, who commits any of the following in bad faith shall be penalized with imprisonment for a period from one to three years, and with a fine between one hundred and two hundred dinars: A. Issuing a cheque with no matching or dispensable balance is available. B. Retrieving, after the issuance of the cheque the balance equivalent to the amount thereof in full or in part, so that the available amount is not sufficient for the encashment thereof. C. Order by the drawer not to in cash the cheque. D. Endorsing or providing the beneficiary with a cheque payable to the bearer, while knowing that in the account exists no enough funds that correspond to the full value thereof, or while the issuer knows that the same is not cashable. E. Issuing or signing on a cheque in a manner that prevents the encashment thereof. |
8.The balance of the account may not fall below the minimum agreed on with the Customer, and as provided in the Granting Terms, in which case the Bank shall not be obliged to accept any instructions or allow any transaction in respect to the account if such would result in the account falling below the mentioned minimum, which shall result in debiting clients account with fees for not keeping the minimum balance. |
9.In case the Customer’s account is overdrawn debt interest will be calculated on the overdrawn balance. |
10.The Bank shall execute all the instructions issued by the Customer unless instructed otherwise and shall refuse the execution of unclear and incomplete instructions provided that the Customer is notified of that fact. |
11.The client acknowledges that in case of issuing a cheque with a postponed date and this cheque was presented to the Bank on a date prior to the date stated in the cheque even if it is stated on the cheque that the cheque will be honored on this specific date or not, the Bank will honor the cheque if there is an equivalent balance or return it if there was no sufficient funds. |
12.Customer’s denunciation to owner payment of cheques drawn on his account will not be accepted unless the Bank was notified in writing of Customer’s denunciation before these cheques were presented for encashment or deposit. |
13.The Bank has the right to close Customer’s current account in the event of having three or more cheques returned for no sufficient or existing balance, and to apply the CBJ’s Regulations of the Returned Cheques Unit. |
