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TravelFx – Terms and Conditions

ANNEXURE ON TERMS AND CONDITIONS GOVERNING ELECTRONIC PAYMENT TRANSACTION

1.ELECTRONIC PAYMENT TRANSACTION
1.1These terms and conditions apply to customers who are individuals or sole-proprietors who have subscribed to the electronic payment transaction services offered by the Bank and shall be read in conjunction with the terms and conditions of the respective products and/or services offered by the Bank. If there are any inconsistency or conflict in respect of any electronic payment transactions between these terms and conditions and the respective product and/or service terms, these terms and conditions shall prevail.
2.DEFINITIONS
2.1In these terms and conditions, unless to the extent the content requires otherwise, the following words and expressions shall have the following meanings:
access code” shall mean a password, code or any other arrangement that the Customer/Customer’s authorised person must keep secret, that may be required to authenticate any payment transaction or the identity of the Customer/Customer’s authorised person, and may include any of the following:
(a)personal identification number, password or code;
(b)internet banking authentication code;
(c)telephone banking authentication code;
(d)code generated by an authentication code;
(e)code sent by the Bank by phone, text message such as SMS,
but does not include a number printed on a payment account (e.g. a security number printed on a credit card or debit card).
authorised transaction” shall mean transaction which the Customer/Customer’s authorised person had knowledge of and/or consented to (notwithstanding the Customer may not have consented to the transaction). It also includes transaction where the Customer’s authorised person acts fraudulently to defraud the Customer or the Bank.
MAS” shall mean the Monetary Authority of Singapore.
payee” means a person who is the intended recipient of money which has been the subject of a payment transaction.
payer” means a person who holds a payment account and initiates, or consents to the initiation of, a payment order from that payment account.
payment account” means any account held in the name of, or any account with a unique identifier of, one or more persons; or any personalised device or personalised facility, which is used by any person for the initiation, execution, or both of payment transactions and includes a bank account, debit card, credit card and charge card.
payment transaction” means an act, initiated by the payer or payee, of placing, transferring or withdrawing money, irrespective of any underlying obligations between the payer or payee, where the act is initiated through electronic means and where money is received through electronic means and includes the placing, transferring or withdrawing of money for the purposes of making payment for goods or services or for any other purpose.
protected account” means any payment account that (i) is held in the name of one or more persons, all of whom are either individuals or sole proprietors; (ii) is capable of having a balance of more than $500 (or equivalent amount expressed in any other currency) at any one time, or is a credit facility; and (iii) is capable of being used for electronic payment transactions.
unauthorised transaction” means in relation to any protected account, means any payment transaction initiated by any person without the actual or imputed knowledge and implied or express consent of the protected account holder.
Transaction Notification Alert” shall mean the SMS or email message sent by the Bank to the Customer in connection with a payment transaction.
3.TRANSACTION NOTIFICATION ALERTS
3.1For all electronic payment transactions instructed by the Customer in connection with their protected account, Customers will receive a Transaction Notification Alert sent by the Bank either to their Singapore mobile phone number or email address.
3.2The Customer must provide and ensure the Customer’s Singapore mobile phone number and email address are correct and up-to-date at all times.
3.3The Customer shall notify the Bank immediately in writing, of any change, inaccuracy or discrepancy in the Customer’s Singapore mobile phone number or email address. The Bank shall be entitled to a reasonable period from date of receipt, to process such notification.
3.4The Customer shall not hold the Bank liable for any loss, damage or other consequences suffered by the Customer, in the event the Transaction Notification Alert is delayed, intercepted, lost or was not received by the Customer or the contents of the Transaction Notification Alert was disclosed to a third party, due to the Customer’s failure to update the Bank of any change to the Customer’s Singapore mobile phone number or email address.
3.5Without prejudice to the generality of any other provisions, the Customer accepts and agrees that the Bank shall not be liable for any electronic, mechanical, data failure or corruption, computer viruses, bugs or related problems that may be attributable to services provided by any relevant internet service provider, network provider or communication network provider.
3.6The Bank may send the Transaction Notification Alert on a real time basis or on a daily batched basis.
4.CUSTOMER’S DUTY
4.1In connection with the Transaction Notification Alert, the Customer is responsible:
4.1.1to enable the Customer’s device to receive the Transaction Notification Alert issued by the Bank;
4.1.2to opt to receive Transaction Notification Alert for all electronic payment transactions in connection with the Customer’s protected account; and
4.1.3to monitor all electronic payment transactions in connection with the Customer’s protected account.
4.2The Bank may provide the Customer with an access code for the purpose of facilitating the electronic payment transaction initiated by the Customer in respect of the Customer’s protected account.
4.3The Customer is responsible in respect of the access code:
4.3.1to take all necessary steps and measures to prevent misuse, fraudulent use or unauthorised access of the Customer’s protected account;
4.3.2not to disclose the access code to anyone including the joint account holder;
4.3.3not to record the access code in a manner that can be easily recognised or deciphered by a third party;
4.3.4any record of access code shall be kept safely by the Customer in a secured electronic or physical location which is only known to and accessible by the Customer and is unlikely to be found by a third party;
4.3.5not to select an access code that can be recognised or deciphered easily by a third party or to select an access code that has been used previously;
4.3.6to update the Customer’s device’s browser to the latest version available;
4.3.7to patch the Customer’s device’s operating systems with regular security updates provided by the operating system provider; and
4.3.8to install and maintain the latest anti-virus software on the Customer’s device, where applicable.
5.UNAUTHORISED TRANSACTION
5.1The Customer undertakes to report any unauthorised electronic payment transaction to the Bank, (in the manner set out in Clause 5.5) as soon as practicable after receipt of any Transaction Notification Alert.
5.2If the Customer is unable to report an unauthorised electronic payment transaction in a timely manner as prescribed under Clause 5.1, the Customer shall provide the Bank with the reasons for failing to do so.
5.3The Customer shall provide the Bank, within a reasonable time period, (in any event of not more than 7 business days) with relevant information (as may be requested by the Bank from time to time) on the unauthorised electronic payment transaction to facilitate any claims investigations process undertaken by the Bank.
5.4Upon the Bank’s request, the Customer shall make a police report on the unauthorised electronic payment transaction and shall provide the Bank with a copy of the police report as soon as practicable. The Bank may request the Customer to furnish the police report prior to the Bank commencing any claims investigation process.
5.5The Customer may report any unauthorised electronic payment transaction by attending at any of the Bank’s branches or by calling the Bank’s 24-hour Customer Care/Contact Centre at 1800 323 0100 or +603 9145 1388 (if the Customer is overseas). The Bank will send an acknowledgement of the report to the Customer via SMS or email.
5.6Upon the Customer’s request in writing and to the extent permitted by law, the Bank will provide the Customer with relevant information, that the Bank has of all the unauthorised electronic payment transactions in connection with the Customer’s protected account.
5.7The Bank will take about 21 business days to complete its claims investigation process for simple cases of unauthorised electronic payment transactions and 45 business days for complicated cases where any party to the unauthorised electronic payment transaction is resident overseas or where the Bank has not received sufficient information to complete the claims investigation.
5.8Within the prescribed timeline under Clause 5.7, the Bank will notify the Customer, in writing of the outcome of its claims investigation and the Customer’s liability in respect of the unauthorised transaction.
6.ERRONEOUS TRANSACTION
6.1The Customer undertakes to report any erroneous transaction to the Bank (in the manner set out in Clause 6.4) as soon as practicable upon discovery of the erroneous transaction. Erroneous transaction shall include transactions where money was placed with or transferred to the wrong recipient from the protected account.
6.2Upon notification by the Bank of an erroneous transaction, where money was placed with or transferred to the Customer’s protected account, the Customer is to determine if the transaction was indeed erroneous and if the Customer is the wrong recipient, then the Customer shall instruct the Bank to transfer the money back to the payer. The Customer understands that any retention or use of money transferred in error, is an offence under the Penal Code.
6.3The Customer shall provide the Bank with relevant information (as may be requested by the Bank from time to time) on the erroneous transaction to facilitate any investigations.
6.4The Customer may report any erroneous electronic payment transaction by attending at any of the Bank’s branches or by calling the Bank’s 24-hour Customer Care/Contact Centre at 1800 3230 100 or +603 9145 1388 (if the Customer is overseas).
6.5The Customer understands that the Bank’s role is merely to facilitate effective communication between the Customer and financial institution of the wrongful recipient, with the aim to improve chances of recovering the payment amount sent through the erroneous transaction. The Bank is not expected to resolve erroneous transaction claim.
7.LIABILITY FOR UNAUTHORISED TRANSACTION
7.1The Customer shall be liable for actual loss arising from the following unauthorised electronic payment transactions:
7.1.1where the Customer’s recklessness and/or the Customer’s authorised person’s recklessness was the primary cause of the loss;
7.1.2by and due to the Customer’s failure to comply with all the security measures as advised by the Bank; and
7.1.3by and due to the Customer’s failure to comply with these terms and conditions.
7.2The Customer shall be liable for the actual loss suffered under Clause 7.1 and for all authorised transactions up to the applicable transaction limit or daily payment limit of the Customer’s protected account.
7.3The Customer shall not be liable for any loss arising from the following unauthorised payment transactions:
7.3.1fraud or negligence by the Bank, its employee, its agent or any outsourcing service provider contracted by the Bank for the purpose of providing services in connection with the Customer’s protected account;
7.3.2non-compliance by the Bank or its employee with any requirements imposed by MAS;
7.3.3by and due to the Bank’s action or omission; and
7.3.4by and due to the action or omission by any independent third party (other than the Bank, its employee, its agent or any outsourcing service provider). For the avoidance of doubt, this clause is only applicable to unauthorised transactions that does not exceed $1,000.
7.4Where the protected account is a joint account, the liability for losses set out under Clause 7 shall apply jointly to each account holder in the joint account.