Terms and Conditions for Customer On-boarding
Please read and accept the following Terms and Conditions carefully before submitting the account opening application through this platform:
Where the account is opened by more than one person "I", "me" or "my" shall read as "we", "us" or "our". The terms and conditions shall apply to each individual separately or to all of them collectively. All agreements, obligations, and liabilities of the joint account holders are shared equally among them or may be taken on by any one of them individually.
1. You agree to open a Savings Deposit(e-conventional) / Interest Free Special E-savings Deposit in your name with BASIC Bank Limited ("the Bank") using the Digital On boarding Web Portal / Mobile Application.
2. You are solely responsible for your actions on this Web Application/ BASIC i-Account App, and you may only use it for personal purposes. Using this Web Application/ BASIC i-Account App for any business activity is strictly prohibited.
3. The Bank may accept or reject the account opening application without notifying the customer.
4. The Bank has the right to close any account at its discretion without providing any reason.
5. Fees and charges will be as per the Bank's schedule of charges.
6. The User agrees not to use this Web Application/ BASIC i-Account App for any commercial purpose and/or any other use that goes against the law and/or good morals.
7. The User agrees not to upload or send or distribute virus programs or any other program that is designed to obstruct, devastate or damage this Web Application/ BASIC i-Account App.
8. The User also acknowledges to avoid the following activities while using the Web Application/ BASIC i-Account App:
a) Uploading any fake document
b) Taking/ uploading fake or indecent photograph
c) Providing misleading or false information
9. The mobile number you provide for account opening must remain active and, in your possession, as we may need to contact you for verification purposes.
10. You agree that all the information provided by you are true and accurate.
11. You will not try to cause any harm to the service and/or the Web Application/ BASIC i-Account App in any way whatsoever.
12. The service and Web Application/ BASIC i-Account App may be subject to limitations and delays inherent in internet use, and BASIC Bank is not responsible for any resulting damages or losses.
13. BASIC Bank may access your camera, photos, and GPS location for providing services and features.
14. BASIC BANK will keep your information confidential.
15. You agree that BASIC Bank may monitor your account activity and share personal information with any regulatory, supervisory, or government authority that has authority over BASIC Bank and/or any organization, service provider, or financial institution for the purpose of conducting BASIC Bank’s permissible functions and activities. Any person/entity to whom BASIC Bank is legally required or authorized by a court of law to disclose such information.
16. By using the Web Application/ BASIC i-Account App and agreeing to the terms and conditions, you agree to defend, indemnify, and hold BASIC Bank protected from any claims, costs, damages, losses, liabilities, and expenses that arise from your violation of the terms and conditions or any applicable laws or regulations, or from your use or misuse of the Web Application/ BASIC i-Account App.
17. You are not allowed to translate, reverse engineer, decompile, update, modify, reproduce, duplicate, copy, distribute, or otherwise disseminate any part of the Web Application/ BASIC i-Account App, or attempt to extract source code from it. If you are caught attempting any of these actions, legal action may be taken by BASIC Bank against you and accomplice.
18. BASIC Bank takes reasonable measures to ensure the security of the Web Application/e-KYC App. However, due to the virtual nature of technology, security risks exist, and you acknowledge this risk. BASIC Bank is not liable for any fraudulent transactions or activities resulting from the User's negligence or from circumstances beyond BASIC Bank’s reasonable control.
19. BASIC Bank limited reserves the right to amend, add, delete, upgrade, expand, and change the existing terms and conditions at any time in any manner without giving any prior notice to the customer.
a. The account holder for each account can appoint nominee as per section 103 of the Bank Companies Act, 1991, as amended.
b. Nomination will be void if the nominee(s) pass away during the account holder(s)' lifetime. In such cases, the account holder(s) must inform the bank in writing of their new nominee(s).
c. The account holder(s) can change the nominee(s) with written instructions at any time.
d. If the account holder(s) pass away, their nominee(s) will not be permitted to continue the account(s). The amount deposited before the account holder(s) death will be given to the nominee(s) after proper identification and obtaining required documents.
e. Account holder(s) can name and authorize any competent person to represent the nominee, allowing them to withdraw funds on behalf of the nominee if the nominee is a minor at the time of the account holder(s) death. The Bank will not be liable after making payment to such person.
f. If there are no nominee(s), a Succession Certificate from the appropriate court will be required to release the remaining balance after the account holder(s) death.
21. For Your kind Information:
a. Self on-boarding is, where customer can on-board at his own Device or other digital means abiding by the norms of this e-KYC Guidelines. Self on—boarding shall be allowed for face matching model.
b. Simplified e-KYC: Where a customer can be on-boarded verifying customer identity electronically using simplified digital KYC
c. Customer who will be on-boarded with simplified e-KYC (Deposit or Withdrawal not exceeding BDT 1,00,000 per month in an account) will not be allowed total deposit or withdrawal more than BDT1,00,000 per month. Bank shall have right to restrict customer-initiated transaction, where deposit or withdrawal exceeds BDT 1,00,000 in a month. In such cases, customer has the option to convert to regular e-KYC account. Customer who will be on-boarded with simplified E-KYC can be converted in to regular E-KYC, by giving additional information and documents.
22. The above mentioned terms and conditions are in addition to the existing terms and conditions of the bank’s conventional saving deposit account.
Acceptance of Terms and Conditions:
I do hereby declare that I have read and fully understood all the terms and conditions contained hereinabove and do hereby accept and agree to all the terms and conditions.