Current Account Terms and Conditions:
- No credit interest shall be credited for credit accounts unless otherwise agreed.
- The Bank will not accept any cheque 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 undertakes not to withdraw from the Account except by cheques on the form approved by the Bank, and the Bank may, without any responsibility thereon, refuse the encashment of any cheque withdrawn by the Customer if not made on the cheque forms issued to the Customer by the Bank, and the Customer shall undertake to protect the cheques provided thereto, and shall be responsible for any loss or damage that may result from fraudulent or erroneous use of, or the bribery, or losing it, including the loss in the post as from the date the same were sent to the Customer, and the Customer undertakes to notify the Bank in case the same were stolen or lost.
- The Customer authorizes the Bank, and as per the sole discretion thereof and to allow overdraft and debit the Account with interests payable to the Bank, add them to the balance and authorizes the same to credit the account with the values of promissory notes, cheques, and any other instruments which belong to the Customer and come under the possession of the Bank, whether were for collection or in any other form, and to credit the Account with the balance of any other account opened in the name of the Customer with the Bank, or with any other branch thereof, as a coverage or a guarantee for the payment of all the Customer’s obligations towards the Bank, so as no balance of other account(s) becomes payable until all the obligations of the Customer towards the Bank are paid, and the Bank shall have the right to set-off amongst balances of the Account(s) opened in the name of the Customer with the Bank, including those in any other foreign currency; any overdrafts allowed, whether by withdrawal from or deposit into the Account shall not be considered an acceptance of the Bank to grant overdraft facilities, but is however a privilege given by the Bank to the Customer, and the Customer shall settle the same within a period of no more than thirty days from the date of any overdraft.
- Cheque books may only be issued for current accounts.
- In case the Customer received a cheque book upon the request thereof and with the approval of the Bank, the Customer undertakes to protect the same by keeping it in a safe place, and undertakes to notify the Bank in writing within 24 hours in case any page thereof is lost or stolen, and in all such cases, the Customer discharges the Bank from any responsibility that may result from the aforementioned and / or from counterfeiting any page thereof, and / or dispatching the same by post, and without any responsibility for any incidence that may result from such dispatch.
- 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 its Account and (40) dinars for the second cheque returned on the Customer’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 Customer’s account, regardless of whether there is balance in the account . The Bank is entitled to modify these amounts in accordance with any modification made by Central Bank.
- The Bank shall return overdrawn cheques, and shall have the right to notify the Central Bank with the fact in case the amount of the cheque was not settled within a period of 15 working days from the next day after the date it was returned, otherwise the name of the Customer will be added to the list of customers with returned checks maintained by the Central Bank of Jordan, and any customer for whom an overdrawn cheque is retuned, for the non-existence or the insufficiency of balance will also lead to the charge of a commission to be debited to their Account without referring to the Customer, pursuant to Article 421 of the Law the Penal Code No. 9 of the year 1988.
- The balance of the Account may not fall below the minimum agreed on with the Customer, and as provided in the grant terms, in which case the Bank shall not be obliged to accept any instructions or allow any transaction in respect of the Account if such would result in the Account falling below the mentioned minimum and shall impose the fees on the Customer in this regard.
- In case the Customer’s Account is over drafted, a debt interest shall be charged for the overdraft in the Account.
- 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.
- The Customer 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, regardless of whether it is stated on the cheque that the cheque will be uncashed on this specific date or not, the Bank will uncashed the cheque if there is an equivalent balance or return it if there was no sufficient funds.
- The Customer’s objection to uncashed payment of cheques drawn on its account will not be accepted unless the Bank was notified in writing of the Customer’s objection before these cheques were presented for encashment or deposit
- 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.
- The Customer understands that in the event that a request to reserve an amount is not submitted for the purposes of stopping the cash disbursement and / or there is not enough balance available in the Account, Customer will be notified for the purposes of its name being listed on the list of returned cheques unit unless the Customer provides the Bank with the following: A) Evidence that the cheque holder has been declared bankrupt. B ) Evidence of reporting (to the competent security or judicial authorities) of the cheque (s) have been lost or stolen. C ) That the drawer of the cheque submits a judicial decision that the reason for the objection is legitimate. D ) That the drawer of the cheque submits a judicial decision freezing the procedures regarding the cheque (s). E ) That the drawer of the cheque submits a settlement concluded with the beneficiary. F ) That the drawer of the cheque presents the original cheque.
- Special Conditions for PAW Account (Payment Applications World):
A )The Account and issued card by the Bank’s website are allowed to register in the Bank’s electronic services.
B ) It is prohibited to use a PAW account to issue a cheque book.
C )It is prohibited to use a PAW account the execution of deposits withdrawals or any other actions through the Bank’s branches.
D ) The Bank has the right to set the limit for deposits, withdrawals and transfers through electronic services for the PAW account.
E )A PAW account is created only in the Jordanian Dinar currency, and the Account freezing method is applied to the PAW account same as to current accounts.
F )Debit card is issued when the account is opened through electronic channels and is delivered to the Customer through mail using mailing company.
