Internet Banking

General & Personal Customers Terms & Conditions

Table of Contents

Internet Banking, General Terms and Conditions

  1. Introduction
  2. Definitions and interpretation
  3. BSP Internet Banking
  4. Cumulative Daily Limit
  5. Processing Instructions
  6. International Payments
  7. Fees and charges
  8. Liability
  9. Indemnity
  10. Privacy and Confidentiality
  11. System and Equipment Failure
  12. Force Majeure
  13. Protecting your Security Identification
  14. Internet Banking Fraud
  15. Anti-Money Laundering, Proceeds of Crime and Other Offences
  16. Termination and suspension of access to BSP Internet Banking
  17. Variation of these Terms and Conditions
  18. Governing Law
  19. Assignments

BSP Internet Banking Terms and Conditions for Personal Customers

Our obligation to you

  1. Introduction
  2. Interpretation and Definition
  3. Prerequisites for Registration
  4. Access to BSP Internet Banking
  5. Linking Accounts to BSP Internet Banking
  6. Cumulative Daily Limits. 13
  7. Instructions through BSP Internet Banking
  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 Internet Banking
  17. Fees and Charges
  18. Variation of these Terms and Conditions
  19. Governing Law
  20. Privacy and Confidentiality Disclosure
  21. Assignment

Internet Banking, General Terms and Conditions

1.  Introduction

2.  Definitions and interpretation

3.  BSP Internet Banking

4.  Cumulative Daily Limit.

5.  Processing Instructions

6.  International Payments

7.  Fees and charges

7.1.1. Contact your Relationship Manager; or

7.1.2. If you are located in PNG, telephone the BSP Customer Contact Centre on 320 1212/70301212; or

7.1.3. If you are located outside of PNG, telephone +675 3057900

8.  Liability

9.  Indemnity

10. Privacy and Confidentiality

11. System and Equipment Failure

12. Force Majeure

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.

13. Protecting your Security Identification

14. Internet Banking Fraud

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

16. Termination and suspension of access to BSP Internet Banking

17. Variation of these Terms and Conditions

18. Governing Law

These Terms and Conditions are to be governed by, and construed in accordance with the laws of PNG and submits to the non-exclusive jurisdiction of the Courts of PNG.

19. Assignments

BSP Internet Banking Terms and Conditions for Personal Customers

Our obligation to you

It’s our commitment to make all the details about your banking as clear as we possibly can. That’s what this document is for. We encourage you to read this document before you decide to register for BSP Internet Banking. Once your registration has been accepted keep it handy so you can refer to it when you have questions. We also encourage you to talk to us any time about how you can pay as little for your banking as possible.

1.   Introduction.

If you require those terms and conditions, you can contact your contact your BSP branch or call BSP PNG Customer Contact Centre on (675) 320 1212/7030 1212 (Local) or 305 7900 (international) or Email: clientservice@bsp.com.pg for more information.

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:

3.   Prerequisites for Registration

4.   Access to BSP Internet Banking

5.  Linking Accounts to BSP Internet Banking

6. Cumulative Daily Limits

7.   Instructions through BSP Internet Banking

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

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.

BSP will generally process a:

The transfer cut off time is:

Business Day 2:30pm (PNG Time).

Transfers made outside the time 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.

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

BSP will notify you of any restriction/requirements regarding foreign currency exchange. International Payment instructions via BSP Internet Banking 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.

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

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

8. Processing your Instructions

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

9.  Liability for Instructions

10.  Protecting your Security Identification

11. Liability for Unauthorized Transactions

11.1.1    As a result of fraudulent or negligent conduct of BSP’s employees or agents;

12.  Indemnity

13.  System & Equipment Failure

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

16. Termination of Access to BSP Internet Banking

17. Fees and Charges

18.  Variation of these Terms and Conditions

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

Any continued use of BSP Internet Banking 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

21. Assignment

For more information

Visit your nearest BSP branch or contact your Relationship Manager
BSP Customer Contact Centre on 320 1212 / 7030 1212 (Local) or +675 305 7900 (international)
Email: clientservice@bsp.com.pg
Visit www.bsp.com.pg