Personal Internet Banking Terms and Conditions

Table of Contents

  1. Introduction
  2. Interpretation and Definition
  3. Prerequisites for Registration
  4. Access to BSP Online PIB
  5. Linking Nominated Accounts to BSP Online PIB
  6. Global Daily Limits
  7. Instructions through BSP Online PIB
  8. Processing your Instructions
  9. Liability for Instructions
  10. Protecting your Security Identification
  11. Liability for Unauthorized Transactions
  12. Indemnity
  13. System & Equipment Failure
  14. Force Majeure and Schedule Downtimes
  15. Anti-Money Laundering, Proceeds of Crime and Other Offences
  16. Termination of Access to BSP Online PIB
  17. Fees and Charges
  18. Variation of these Terms and Conditions
  19. Governing Law
  20. Privacy and Confidentiality Disclosure
  21. Assignment

 

1. Introduction

1.1.      These Terms and Conditions apply to BSP personal banking customers using BSP Online Personal Internet Banking ("BSP Online PIB") service.

1.2.      You should read these Terms and Conditions before you use BSP Online PIB. If there is any aspect of these Terms and Conditions you do not understand or are unsure about, do not hesitate to contact your BSP branch or call BSP Customer Service Centre on 320 1212 | 7030 1212 for more information. International Customers can call +675 322 9842.

1.3.      These Terms and Conditions apply together with:

a)     BSP Electronic Banking Terms and Conditions;

b)    terms and conditions applicable to the Account(s) which you have nominated to be linked on BSP Online PIB; and

c)     terms and conditions of products or services offered by BSP where you may initiate and transact through BSP Online PIB.

If you require those terms and conditions, you can contact your BSP branch or call BSP Customer Service Centre on 320 1212 | 7030 1212. International Customers can call +675 322 9842.

1.4.      By using BSP Online PIB service, you agree to these Terms and Conditions together with those terms and conditions mentioned in clause 1.3 and any modifications thereof.
 

1.5.      If you have not previously agreed in writing that you have read, understood and agreed to be bound by these Terms and Conditions, your continued use of BSP Online PIB constitutes your acceptance of these Terms and Conditions.

1.6.      If there is any inconsistency between these Terms and Conditions and those mentioned in Clause 1.3, this Terms and Conditions will prevail for all transactions using the BSP Online PIB service.

 

2. Interpretation and Definition

2.1.      Interpretation

The use of headings are inserted for convenience and ease of reference only and are not to be considered in the interpretation or construction of any provision of this Terms and Conditions.

2.2.      Definition

The following terms used in this Terms and Conditions are defined as follows:

  • "Account(s)" means all bank accounts, including the Primary Account, held with BSP, which are able to be linked on BSP Online PIB, and which you have nominated to be linked on BSP Online PIB.

  • "BSP" means Bank of South Pacific Limited, a company incorporated in Papua New Guinea with its registered office at corner of Musgrave and Douglas Streets, Port Moresby.

  • "Business Day" means any business day from Monday to Friday but excludes any public holiday falling on those days.

  • "Correspondent" means another bank or agency which BSP chooses to effect your international payment instructions (including conversion of the funds if and when required) from your linked Account/s directly or indirectly to the beneficiary's bank, and includes any intermediary Correspondent.

  • "User Name" means a unique identification number issued by BSP to allow you access to the Electronic Banking Service and by which BSP identifies you.

  • "BSP Online PIB" means BSP Online Personal Internet Banking

  • "Force Majeure" means any act of nature, war, riot, sabotage, revolution, or any other unlawful act against public order or authority, an industrial or labour dispute, a governmental restraint, civil unrest, power shortages or power failure, sudden or unexpected system failure, or any other event or cause which is not within the reasonable control of BSP or you.

  • "Funding Account" means the Account which you have nominated for funds to be debited for transactions conducted through BSP Online PIB.

  • "PC" means Personal Computer

  • "PNG" means the Independent State of Papua New Guinea

  • "Primary Account" means the Account nominated by you as the primary linked Account for the purposes of registration to BSP Online PIB.

  • "Security Identification" means the BSP User Name and Password and/or any other codes used from time to time to access BSP Online PIB service.

  • "Terms and Conditions" means these terms and conditions for BSP Online PIB as amended from time to time by BSP.

  • "Unauthorized Transaction" means any transaction made without your knowledge or consent.

 

3. Prerequisites for Registration

You will be registered to use BSP Online PIB if BSP is satisfied that:

a)         you are 18 years of age or over; and

b)         you satisfy all BSP Online PIB registration requirements specified by BSP from time to time.

 

4. Access to BSP Online PIB

4.1.      On registration, BSP will contact you to collect your Security Identification from any of its branches, or BSP may send you your Security Identification in any other manner agreed upon between BSP and you from time to time.

4.2.      It is important that as soon as you access BSP Online PIB on first logon using your Username and temporary password issued to you by BSP, you must change your temporary password to a new one comprising of both letters and numerals with a minimum of 8 and a maximum of 15 characters.

 

5. Linking Nominated Accounts to BSP Online PIB

5.1.      BSP Online PIB is only available on Account(s) which you nominate to be linked and which are available for access on BSP Online PIB. BSP will not be able to link such accounts:

a)   if the linking of such accounts to BSP Online PIB is prohibited by Law; or

b)   if BSP restricts or does not approve the Account(s) you have nominated to be linked on BSP Online PIB.

If BSP restricts or does not approve linking the Account(s) you have nominated, it will notify you of such restriction or non-approval.

5.2.      You must nominate on your BSP Online PIB Application, only one Account as the Primary Account for the purposes of BSP Online PIB and registration. The first account listed on the Application will be taken to be the Primary Account which will be used to confirm your registration and any future changes you may request to your Internet Banking access.

5.3.      Where the nominated Account(s) to be linked on BSP Online PIB is held jointly with one or more persons and are not single signing authority, BSP will not link that Account to BSP Online PIB.

 

6. Global Daily Limits

6.1.      All transactions conducted through BSP Online PIB is subject to a Global Daily Limit.

6.2.      The Global Daily Limit refers to the maximum allowable cumulative amount for all transactions types initiated through BSP Online PIB within a 24 hour period. Unless you have made subsequent arrangements with BSP for an increased or decreased limit, this Global Daily Limit will apply.

6.3.      BSP may change or impose limits on the amount of funds that will be available through BSP Online PIB either by its own discretion or to the extent permitted by law.

6.4.      For further information on the types of limits available for each transaction type, or to increase or decrease your Global Daily Limit, you can contact your BSP Branch; call BSP Customer Service Centre on 320 1212 | 7030 1212 or email servicebsp@bsp.com.pg. International Customers can call +675 322 9842.

 

7. Instructions through BSP Online PIB

7.1.      General

You must ensure that there are sufficient funds in your nominated linked Account(s) in order for BSP to process your instruction. You can do the following using BSP Online PIB:

a)     View your account balances and transaction history;

b)    Pay your bills;

c)     Transfer funds between your nominated linked Account(s); and

d)    Transfer funds to accounts at BSP and other banks within PNG and Overseas

Restrictions and/or other requirements may apply as required by Law or in accordance with BSP's policies. If they do, BSP will notify you of such restriction and requirement.

7.2.      Processing

BSP will generally process a:

a)     funds transfer between your nominated linked accounts in real time the moment your instruction is received by BSP ; or

b)    funds transfer to other BSP accounts (not linked to BSP Online PIB) on the same day your instruction is received by BSP ; or

c)     for transfers to other banks within PNG, within the processing times applicable to such transaction.

The transfer cut off times are:

Business Day                2.30pm (PNG Time)
Saturday                       12.30pm (PNG Time)

Transfers made outside the times stipulated above will be sent the next Business Day.
BSP only ensures the transfers are made at the times stipulated. BSP does not guarantee that this will immediately show on your nominated beneficiary account if such account is with another bank.

7.3.      International Payments

International payments made from your Account(s) linked through BSP Online PIB is/are subject to:

a)     foreign exchange control regulations and restrictions/requirements as applicable under Law; and

b)    currency exchange rates applicable to the transaction on the day.

BSP will notify you of any restriction/requirements regarding foreign currency exchange. The International Payments Terms and Conditions govern the use of international payments option in BSP Online PIB and can be found on BSP website or at any BSP Branch.

International Payment instructions via BSP Online PIB will be processed as follows:

Business Day                9am to 3pm

Transfers made outside the times stipulated above will be sent the next Business Day. BSP only ensures the transfers are processed at the times stipulated. BSP does not guarantee that this will immediately show on your nominated beneficiary account. You acknowledge and agree that there may be delays in processing your international payment instructions by a Correspondent.

7.4.      Additional Information

BSP may require additional supporting information or confirmation details prior to processing your Instructions.

7.5.      Transaction Receipt

BSP will issue a transaction receipt to you upon confirmation of your instructions.

 

8. Processing your Instructions

8.1.      You must ensure you provide all the required information to BSP in order for BSP to process your Instructions conducted through BSP Online PIB. Your Instruction will not be processed if:

a)   all necessary information is not provided to BSP;

b)   authorization has not occurred within 28 days when the instruction was first initiated through BSP Online PIB;

c)   there are insufficient funds in your nominated Funding Account;

d)   BSP is restricted by Court Order or by Law; or

e)   it involves proceeds of crime or activities involving money laundering.

BSP is not obliged to accept any Instructions and may, in its absolute discretion, accept or decline any Instruction conducted through BSP Online PIB.

8.2.
      BSP may also delay acting on an Instruction or may ask you for further information before acting on an Instruction. You may view the status of your Instructions through BSP Online PIB or by contacting BSP Customer Service Centre on 320 1212 | 7030 1212.

8.3.      BSP is not required to, and does not check that the details provided by you on BSP Online PIB are correct. BSP will not be responsible for any inaccuracy in Instructions given by you or liable to you for any loss arising from such inaccuracy in Instructions.

8.4.      If BSP receives Instructions for more than one transfer from your nominated linked Account(s) conducted through BSP Online PIB, BSP will, at its sole discretion, determine the order of priority in which transfers are made.

8.5.      You authorize BSP to act on and process any Instruction you give or transmit through BSP Online PIB using your Username and Password without BSP further seeking confirmation from or giving notice to you.

8.6.      Except as stated otherwise in these Terms and Conditions, you agree to indemnify BSP against, all liabilities incurred as a result of:

a)     BSP accepting or acting on any Instruction in accordance with these Terms and Conditions;

b)    the invalidity or alleged invalidity of any Instruction or the transactions initiated;

c)     BSP declining to act on or accept an Instruction in accordance with these Terms and Conditions; or

d)    BSP delaying to act or accepting an Instruction in accordance with these Terms and Conditions.

 

9. Liability for Instructions

9.1.      BSP will treat any instructions given to it using your Security Identification as an instruction given by you with your authority. BSP is under no obligation to enquire whether an act purporting to be done using your Security Identification is a proper act in accord with your authority.

9.2.      BSP will not be liable for any loss or damage suffered by you arising from any transactions effected in accordance with instructions given to BSP using your Security Identification. You agree that any non-excludable liability imposed by law and which can lawfully be limited is limited to the cost of the resupply of the service.

9.3.      BSP's liability for the breach of any warranty implied by law in supplying BSP Online PIB or any service in connection with BSP Online PIB to you will be limited to resupply of the service.

9.4.      BSP will not be liable for any claims for damages against or sustained by you arising from delays or errors in the execution of or the failure to execute any instructions occasioned by the fault or negligence of any other bank or financial institutions.

9.5.      BSP will not incur any liability for or in connection with its inability to receive or process instructions as a result of technical failure for any reason.

 

10. Protecting your Security Identification

10.1.   BSP employs a range of security measures, including firewalls and data encryption protocol to help provide a secure channel for your Internet transactions via BSP Online PIB. BSP does not guarantee that any data transmission over the Internet is totally secure.

10.2.   When you apply for and use BSP Online PIB, you consent to BSP using the data for the purpose of providing the BSP Online PIB service to you and you acknowledge that the data provided may be encrypted, transmitted and stored by BSP. Except as otherwise provided by law, BSP shall have no liability in respect of such data.

10.3.   You are responsible in ensuring that your Security Identification is secure and protected from unauthorized use.
 

10.4.   You are required to take adequate security precautions to protect your PC environment from unauthorized access.

10.5.   You agree to notify BSP immediately (without delay) should you become aware of any unauthorized person gaining access to your Security Identification.

10.6.   You should change your Password frequently.

10.7.   If you require any change of your access to BSP Online PIB you should contact your BSP Branch or call BSP Customer Service Centre on 320 1212 | 7030 1212 to obtain further information on how to do this.

 

11. Liability for Unauthorized Transactions

11.1     BSP is liable for actual losses:

a)     as a result of fraudulent or negligent conduct of BSP's employees or agents;

b)    related to faults that occur in BSP Online PIB, unless the faults were obvious or notified to you by BSP;

c)     arising from transactions that require the use of a Password and this occurred before you received or selected the Password (including a reissued Password);

d)    from an unauthorized transaction that occurs after you have notified BSP your Security Identification has been compromised;

e)     from the same transaction being incorrectly debited more than once to the same account;

f)     from an unauthorized transaction if it is reasonably certain that you have not contributed to the losses.

11.2.   You are liable for any actual loss of funds or any interception of information through any unauthorized access to your Account:

a)     through your fraud or negligence;

b)    by voluntarily disclosing your Security Identification to anyone including a family member or friend; or

c)     by failing to keep your Security Identification secure;

d)    if, after you become aware of the loss, theft or breach of your Security Identification, you unreasonably delay notifying BSP, you will be liable for the actual losses incurred between:

(i)      the time you first became aware of any of the events described above; and

(ii)     the time BSP is actually notified of the relevant event.

 

12. Indemnity

You agree to release and/or keep BSP indemnified BSP from all actions, suits, proceedings, claims, costs and demands that may be made brought or incurred by or against BSP arising:

a)         From your failure to provide or any unauthorized or incorrect instructions, confirmations, notifications or requests to BSP by any person using your Security Identification;

b)         directly or indirectly because you did not observe your obligations under these Terms and Conditions or those under mentioned under Clause 1.3; or acted negligently or fraudulently in connection with these Terms and Conditions or those mentioned under Clause 1.3.

 

13. System & Equipment Failure

13.1.   You acknowledge that BSP's provision of the BSP Online PIB service may be affected by outages, faults, delays or scheduled downtimes. Such events may be caused by factors including, but not limited to:

a)   technical difficulties with the performance or operation of BSP's or another person's software, equipment or systems, traffic or technical difficulties with the Internet, or

b)   infrastructure failures or interference with digital signals.

 

13.2.   BSP will be liable for any loss you incur as a result of a failure of BSP's systems and equipment to complete a transaction accepted by BSP's systems and equipment in accordance with your instructions.

13.3.   BSP will not be liable if you became aware or should have been aware that the BSP's systems and equipment were unavailable for use or malfunctioning.

 

14. Force Majeure and Schedule Downtimes

BSP will not be liable for any loss or damage suffered by you if the loss or damage resulted from a Force Majeure event, including during Schedule Downtimes.

 

15. Anti-Money Laundering, Proceeds of Crime and Other Offences

15.1.   By accepting these Terms and Conditions you agree that BSP may delay, block or refuse to process any transaction without incurring any liability if BSP suspects that:

a)   the transaction may breach any Law of the country or any other country;

b)   the transaction may directly or indirectly involve the proceeds of crime, or be applied for the purposes of, unlawful or illegal conduct.

15.2.   You must provide all information to BSP which BSP reasonably requires:

a)   in order to manage money-laundering, terrorism-financing risk and economic and trade sanctions risk;

b)   to comply with any Law of the country or the law in any other country; or

c)   to comply with other prohibitions that may be applicable to BSP with respect to any transaction.

 

15.3.   You consent to BSP disclosing any information concerning you to:

 

a)   any law enforcement, regulatory agency, taxation authority or court where required by any such Law of the country or of any other country;

b)   any correspondent BSP uses to make the payment, for the purposes of compliance with any such Law or the law of any other country.

 

15.4.   Unless you have disclosed that you are acting in a trustee capacity or on behalf of another person, you warrant that you are acting in your own capacity in agreeing to these Terms and Conditions.

 

15.5.   You declare, agree and undertake to BSP that the payment of monies by BSP in accordance with your instructions will not breach any Law of the country or the law in any other country.
 

16. Termination of Access to BSP Online PIB

16.1.   BSP may terminate your access to BSP Online PIB at any time by notifying you in writing (which may include notice given to you when you log on to use BSP Online PIB).

 

16.2.   BSP may also withdraw or deny your access to BSP Online PIB or any part of it without prior notice to you for reasons of security or quality of the BSP Online PIB service. BSP will not do this without good reason which could include:

a)   BSP suspecting you of being fraudulent or engaging in improper conduct;

b)   BSP suspecting that a third party has fraudulently used, or attempted to use, BSP Online PIB with your Security Identification;

c)   as required by Law.

16.3.   In the event that BSP exercises its right contemplated in this clause, it shall not be liable for any losses which you may suffer or have suffered as a result.

16.4.   In the event that your access to BSP Online PIB is:

a)   terminated, any unprocessed transactions including Future-dated and Recurring Transfers will be cancelled;

b)   suspended, any unprocessed transactions including Future-dated and Recurring Transfers will be processed subject to available funds in your Funding Account.

16.5.   You may terminate your use of BSP Online PIB at any time by written request signed by you and BSP will cancel your use of BSP Online PIB as soon as it confirms the request.

 

17. Fees and Charges

17.1.   You may be required to pay fees and charges when you do transactions on BSP Online PIB.

17.2.   BSP will advise you of the fees and charges payable for BSP Online PIB service and when those fees and charges are due.

17.3.   You agree that you will pay the fees and charges that are applicable for transactions effected pursuant to the arrangement and that BSP may debit these fees and charges directly to your nominated account or from the proceeds of the beneficiary account (where applicable).

17.4.   If you fail to nominate an account or disclose your nominated account, you authorize BSP to debit any other account in your name with any fees and charges payable for this service.

17.5.   These fees and charges may be amended by BSP from time to time. Full details of all current fees and charges are available on BSP Website, or can be obtained from any BSP Branch or by calling BSP Customer Service Centre on 320 1212 | 7030 1212. International Customers can call +675 322 9842.

 

18. Variation of these Terms and Conditions

18.1.   BSP may amend these Terms and Conditions from time to time as required by Law or otherwise.

Where BSP intends to vary these Terms and Conditions, BSP will give notice to you by:

a)   direct communication to you;

b)   notice displayed in any of BSP branches or on BSP's website; or

c)   advertisement in a major daily or national newspaper.

18.2.   You will be deemed to have received the notice immediately after any such display or advertisement.

18.3.   Any continued use of BSP Online PIB by you shall constitute your acceptance of the variation.

 

19. Governing Law

These Terms and Conditions are governed by and shall be construed in accordance with the Law in the country. You and BSP agree to submit to the non-exclusive jurisdiction of the courts in the Country.

 

20. Privacy and Confidentiality Disclosure

20.1.   When you apply for BSP Online PIB, you acknowledge that BSP is likely to collect and use some of your information including details about your transactions, your financial conditions, your account relationship with BSP and/or your account(s) (collectively referred to as "Information").

20.2.   BSP may collect your Information:

a)   To assist in providing information about a product or service;

b)   To consider your request for a product or service;

c)   To enable BSP to provide a product or service;

d)   To tell you about other products or services that may be of interest to you;

e)   To assist in arrangements with other organizations (such as subsidiary companies) in relation to the promotion and provision of a product or service;

f)    To perform other administrative and operational tasks (including risk management, systems development and testing, credit scoring, staff training, and market or customer satisfaction research);

g)   To prevent or investigate any fraud or crime (or a suspected fraud or crime); and

h)   As required by relevant laws, regulations, codes and external payment systems inside and outside Papua New Guinea.

20.3.   If you do not provide some or all of the Information requested, BSP may be unable to provide you with a product or service including access to BSP Online PIB.

20.4.   When you applied for BSP Online PIB, you consented to:

a)   BSP collecting your information to enable it to provide the service or product applied for;

b)   BSP Disclosing your information to:

(i)      any service provider BSP engages to carry out or assist its functions and activities

(ii)     any third party providing you with a product or service in relation to your account

(iii)    Credit reporting or debt collecting agencies, and any credit provider to help you avoid a default on your obligations, or to inform them of your default to participants in the payments system (including financial institutions, merchants and payments organizations);

(iv)    any of its branch, subsidiary, affiliate or agent of BSP, including its employees, auditors and legal advisors

(v)     other parties which BSP is authorized, required by law or compelled by court order to disclose information to

(vi)    Your authorized agents or executor, administrator or legal representative;

(vii)   Any person where in BSP's view the disclosures are necessary or desirable for the purpose of allowing BSP to perform its duties and exercise its powers and rights under the Terms and Conditions;

 

21. Assignment

21.1.   You shall not transfer and/or assign any or all or part of your rights, benefits and/or obligations under these Terms and Conditions or any document related thereto without the prior written approval of BSP.

21.2.   BSP may at any time transfer and/or assign any or all or part of its rights, benefits and/or obligations under these Terms and Conditions or any document related thereto to a locally incorporated subsidiary of BSP in the jurisdiction in which BSP operates or any of its affiliates without your consent.

21.3.   If BSP transfers or assigns under clause 21.3, you acknowledge that BSP is authorized to disclose any relevant information to such subsidiary or affiliate and you agree to take such actions and sign such documents as BSP may reasonably require to complete any approval, filing or registration formalities which are necessary for such transfer and/or assignment.