# Terms and Conditions for Welby Trust Bank
## Part 1: General Terms and Conditions
### 1. Acceptance of Terms
These Terms and Conditions ("Terms") govern all accounts opened with Welby Trust Bank ("the Bank," "we," "us," "our") and all banking transactions between the Account Holder ("you," "your," "Customer") and the Bank. By signing the account opening form, affixing your thumbprint, or maintaining an account with the Bank after these Terms come into effect, you agree to be bound by these Terms .
These Terms shall apply throughout your banking relationship with us. Where you choose to obtain additional products and services from us, additional terms will apply to those specific products and services .
### 2. Interpretation
In these Terms, unless the context otherwise requires:
- **"Account"** means any current, savings, deposit, or other account maintained by the Customer with the Bank .
- **"Access Code"** means the PIN, password, token code, username, or other security credential through which the Customer accesses the Bank's services .
- **"ATM"** means Automated Teller Machine.
- **"Business Day"** means a day on which the Bank is open for business, excluding public holidays and days declared as bank holidays by the relevant regulatory authority.
- **"Electronic Banking"** means banking services provided through internet banking, mobile banking, telephone banking, USSD, ATMs, POS terminals, and other electronic channels .
- **"KYC"** means Know Your Customer procedures as required by applicable laws and regulations .
- **"PIN"** means Personal Identification Number .
### 3. Account Opening and Operation
#### 3.1 Application
By submitting an account opening application, you declare that all information provided is true, complete, and accurate. We reserve the right to reject your application or close your account if any information is found to be false, incorrect, or misleading .
#### 3.2 Account Activation
The Bank shall have no obligation to open, create, or permit the operation of the requested account until receipt of all specified requirements, including supporting documents and KYC verification .
#### 3.3 Change of Information
You agree to promptly notify the Bank of any subsequent change in your personal details, contact information, or account mandate .
#### 3.4 KYC and Due Diligence
The Bank is authorized to undertake all KYC procedures specified by applicable law, regulations, and Bank policies. You authorize the Bank to verify your details at appropriate government registries and to debit your account for the attendant costs of such procedures .
#### 3.5 Account Types
The Bank offers various account types including savings accounts, current accounts, fixed deposit accounts, and domiciliary accounts. Specific features, minimum balance requirements, and conditions apply to each account type .
### 4. Account Operation and Transaction
#### 4.1 Minimum Balance and Conditions
You agree to maintain the minimum balance and all other conditions applicable to your account. The Bank reserves the right, at its sole discretion, to close the account where conditions are not maintained or where the account has been operated illegally or to further a criminal activity .
#### 4.2 Authorized Transactions
Unless there is an agreement in writing with the Bank, only tellers sitting across counters are authorized to handle cash and cheque transactions. The Bank will not be liable for funds handed to unauthorized staff outside normal banking hours or outside Bank premises .
#### 4.3 Cheque Transactions
- You assume full responsibility for the genuineness, correctness, and validity of all endorsements appearing on cheques and other negotiable instruments deposited in your account .
- You shall not issue cheques without adequate funds. You accept all responsibility and liability arising from the issuance of dud cheques, and the Bank may report such to credit bureaus and security agencies .
- The Bank is under no obligation to honour any cheque unless there are sufficient funds. If a cheque is paid despite insufficient funds, you are obliged to repay the Bank on demand .
#### 4.4 Statements and Disputes
Any disagreements with entries on your bank statements must be made within fifteen (15) working days of the dispatch of the statement. Failing receipt of a notice of disagreement within this period, the statement will be deemed correct .
### 5. Electronic Banking Services
#### 5.1 Scope of Service
Electronic Banking services include internet banking, mobile banking, telephone banking, USSD banking, ATM services, POS services, and secure message facilities .
#### 5.2 Access Codes and Security
- Your Access Code is used to give instructions to the Bank. You undertake that under no circumstances shall the Access Code be disclosed to any third party .
- You must change your password immediately if it becomes known to someone else .
- You shall not write your Access Code in a manner that could allow a third party to discover it .
#### 5.3 Responsibility for Transactions
- The Bank is entitled to assume that any instructions given through your Access Code are your instructions and to rely on same .
- You shall be responsible for any fraudulent, duplicate, or erroneous instructions given using your Access Code. The Bank shall not be responsible for any loss that occurs between the time your Access Code becomes compromised and the time you report it to the Bank .
- If you notify the Bank of your intention to change your Access Code due to loss of memory or compromise, the Bank shall delete the same and allow you to enter a new code, provided that the Bank shall not be responsible for any loss occurring before the report is lodged .
#### 5.4 Liability and Disclaimers
- The Bank is exempted from liability for complying with instructions given using your Access Code if it becomes known to a third party or is compromised .
- The Bank shall not be responsible for any electronic virus or viruses that you may encounter in the course of using Electronic Banking services .
- Electronic Banking services are provided on an "as is" and "as available" basis. The Bank makes no warranty that the service will be uninterrupted, timely, secure, or error-free .
### 6. Funds Transfer and Payment Services
#### 6.1 Instructions
You must provide clear and accurate instructions for any fund transfer requests. The Bank will rely strictly on the instructions provided and will not be responsible for errors or delays resulting from incomplete or incorrect information .
#### 6.2 Processing
The Bank will process fund transfers according to its standard processing times. The timing of transfers may be affected by factors beyond the Bank's control .
#### 6.3 Fees
The Bank may charge fees for processing fund transfers as per the Bank's prevailing fee schedule. The Bank may deduct these fees from the transferred amount .
#### 6.4 Disputes
In the event of a dispute or error related to a fund transfer, you must notify the Bank in writing within 48 hours from the date of the transaction. The Bank will investigate and take corrective action as per its policies .
### 7. Foreign Currency and Multi-Currency Transactions
#### 7.1 Currency Conversion
If you initiate a payment or the Bank receives a payment in a currency other than the currency of your account, the Bank may convert the currency at the Bank's applicable exchange rate and charge the applicable fee .
#### 7.2 Foreign Exchange Instructions
The Bank is authorized to act on instructions regarding foreign exchange, including the purchase or sale of foreign exchange and the signing and settlement of exchange contracts .
#### 7.3 Exchange Control
You undertake to provide all exchange control documents required for any transaction requiring foreign exchange and indemnify the Bank for any loss resulting from your default .
### 8. Interest, Fees, and Charges
#### 8.1 Interest Rates
Interest rates applicable to your account may be changed by the Bank from time to time. The Bank shall notify you of any changes .
#### 8.2 Fees and Charges
Commission and charges shall be levied in accordance with the Bank's standard scale of charges in force from time to time. Copies are made available on request. The Bank reserves the right to amend its rates .
#### 8.3 Overdraft and Debit Balances
If your account becomes overdrawn without prior approved credit facility, the Bank will charge interest on the overdrawn balance at the Bank's overdraft base lending rate plus any penal charges as may be applicable .
#### 8.4 Set-Off
The Bank may, without notice, combine or consolidate all or any of your accounts and set off any sums standing to your credit towards satisfaction of your liabilities to the Bank, whether actual or contingent, primary or collateral .
### 9. Customer Obligations and Warranties
#### 9.1 Genuineness of Instruments
You assume full responsibility for the genuineness, correctness, and validity of all endorsements appearing on all cheques, bills, notes, and other negotiable instruments deposited in your account .
#### 9.2 Indemnity
You agree to indemnify the Bank for any loss incurred by the Bank as a result of your default, including but not limited to dishonoured cheques and unauthorized transactions .
#### 9.3 Compliance with Law
You agree to use the account for lawful purposes only and not to use the service for illegal purposes or for the transmission of material that is unlawful, harassing, libelous, abusive, threatening, or obscene .
### 10. Account Closure and Suspension
#### 10.1 Customer's Right to Close
You may close your account at any time provided you first settle any debit balance and clear all outstanding liabilities .
#### 10.2 Bank's Right to Close
The Bank may close your account at any time, at its sole discretion, or on the expiration of a reasonable period of notice. The Bank may also close your account immediately to comply with law or financial crime obligations .
#### 10.3 Account Suspension
The Bank may suspend transactions and services on an account immediately and without prior notice in circumstances including but not limited to:
- Suspicion of fraud or financial crime .
- Failure to respond adequately to KYC enquiries .
- Breach of these Terms .
- Requirement by law or financial crime obligations .
- Dispute about the mandate .
- Insolvency or inability to contact the Customer .
### 11. Dormant Accounts
The Bank may designate an account as dormant if it is not used for the period specified in the Bank's policy. The Bank shall notify you prior to designating your account as dormant . When you apply to reactivate a dormant account or claim a credit balance, the Bank will assist you as far as reasonably possible .
### 12. Liability and Disclaimers
#### 12.1 Force Majeure
The Bank shall not be held liable for any loss of funds deposited with the Bank due to any future governmental order, law, levy, tax, embargo, moratorium, exchange restriction, act of God, force majeure, system failure, or other causes beyond the Bank's control .
#### 12.2 Electronic Banking
The Bank shall not be liable for any damages, including direct or indirect, special, incidental, or consequential damages, arising in connection with Electronic Banking services or use thereof, including failure of performance, error, omission, interruption, defect, delay in operation, transmission, computer virus, or line or system failure .
#### 12.3 No Warranty
Electronic Banking services are provided on an "as is" and "as available" basis. The Bank expressly disclaims all warranties of any kind, whether express or implied, including implied warranties of merchantability, fitness for a particular purpose, and non-infringement .
### 13. Privacy and Data Protection
#### 13.1 Confidentiality
The Bank must comply with its commitments to you as set out in the Bank's Privacy Statement. The Bank may share information about you with third parties as stated in the Privacy Statement .
#### 13.2 Credit Bureaus
The Bank consults with various credit bureaus and reference agencies and may be required to disclose your information to these credit bureaus for the purpose of conducting checks. You hereby grant your consent to such disclosures .
#### 13.3 US Persons
If you are or become resident in the US, you shall promptly notify the Bank and complete any relevant US tax or waiver documentation that the Bank may request .
### 14. Amendments
The Bank reserves the right to modify the nature, conditions, and stipulations of these Terms, including the rate of interest, commissions, and other conditions, by written notice to you or by notice posted in the banking hall or on the Bank's website. Any such amendments shall be binding on you from the date of the said notice, whether or not you actually received the notice .
### 15. Notices and Communications
Any communication by the Bank to you shall be deemed to have been made as soon as it is sent to your most recent address, telephone number, or email address on the Bank's records. The date indicated on the medium of communication will constitute the date on which the communication was sent .
### 16. Governing Law and Dispute Resolution
#### 16.1 Governing Law
The account relationship hereby established shall be governed and construed in accordance with the laws of the jurisdiction in which the Bank operates and by reference to the accepted principles and practices of banking .
#### 16.2 Arbitration
Any claim in respect of any dispute, difference, or controversy arising out of or relating to the opening and operation of the account shall be referred to arbitration in accordance with the applicable arbitration laws of the jurisdiction. The dispute shall be resolved by a sole arbitrator appointed by agreement of the parties or, failing agreement, by the Chairman of the relevant arbitration institute. The decision of the arbitrator shall be final and binding on the parties. The language of the proceedings shall be English .
#### 16.3 Claim Notice
No suit or proceedings of any kind shall be brought against the Bank before the expiration of a period of thirty (30) days after written notice of intention to commence the suit has been served on the Bank, and such notice shall clearly state the cause of action, the particulars of the claim, and the relief claimed .
### 17. Severability
Where any of the conditions or provisions specified herein are invalid, illegal, or unenforceable in any respect under the law, the validity, legality, and enforceability of the remaining conditions and provisions contained herein shall not in any manner be affected or impaired thereby .
### 18. Waiver
No failure or delay in exercising any right, power, or privilege vested in the Bank by these conditions shall operate as a waiver thereof, nor shall any partial exercise of such right, power, or privilege preclude any other or further exercise thereof .
---
## Part 2: Product and Service Specific Terms
### A. Fixed Deposit Terms and Conditions
#### A.1 Application
Fixed Deposits may be opened by any Customer who maintains an account with the Bank. The minimum deposit amount and tenure options shall be as specified by the Bank from time to time.
#### A.2 Deposit Period
Fixed Deposits shall be held for the agreed tenure. Premature withdrawal may be permitted at the Bank's discretion and shall be subject to applicable penalties as determined by the Bank's prevailing policy.
#### A.3 Interest
Interest shall be paid at the rate applicable at the time of deposit. Interest may be paid monthly, quarterly, semi-annually, annually, or at maturity, as selected by the Customer. The Bank reserves the right to change interest rates for renewals.
#### A.4 Renewal
Fixed Deposits shall be renewed automatically upon maturity unless the Customer provides instructions to the contrary. Renewal shall be at the prevailing interest rate on the date of maturity.
#### A.5 Lien and Set-Off
The Bank shall have a lien on the Fixed Deposit for any outstanding liabilities of the Customer to the Bank and may set off the deposit against such liabilities.
### B. Loan Application and Disbursement Terms
#### B.1 Eligibility and Application
Loan applications are subject to the Bank's credit assessment and approval criteria. You agree to provide accurate and complete information in your application and to promptly update the Bank of any material changes .
#### B.2 Approval and Disbursement
The loan agreement becomes binding upon approval and disbursement of the loan funds. You cannot hold the Bank responsible for any damage or loss caused by transferring the loan into your indicated account .
#### B.3 Interest and Fees
Interest will be calculated and capitalized on the reduced balance. All fees (origination fees, credit bureau costs, insurance) will be charged as per the Bank's prevailing fee schedule .
#### B.4 Repayment
You must repay the loan in equal instalments as shown in the loan agreement. Repayments will first pay legal costs (if any), then penalty interest, then total cost of credit, and lastly the outstanding balance .
#### B.5 Early Repayment
You may settle the loan agreement at any time by paying the unpaid balance, interest, and any other charges due up to the date of settlement. Administration fees are non-refundable and will not be discounted on a pro-rata basis upon early settlement .
#### B.6 Default and Acceleration
The Bank may immediately demand payment of the full outstanding amount if you:
- Commit a breach of the loan agreement .
- Make a false representation during application .
- Do anything that prejudices the Bank's rights under the agreement .
- Lose employment where instalments are deducted from salary .
- Become insolvent .
#### B.7 Insurance
Where applicable, credit life insurance provides for settlement of the loan in the event of death or permanent disability. Benefits are paid directly to the Bank to settle the outstanding loan balance .
### C. Money Transfer and Payment Request Terms
#### C.1 Instructions
You must provide clear and accurate instructions for any transfer or payment request. The Bank will rely strictly on the instructions provided and will not be responsible for errors or delays resulting from incomplete or incorrect information .
#### C.2 Reversals
The Bank may reverse a payment made in error or if the Bank suspects, on reasonable grounds, that it involves fraud. If you know or suspect you are not entitled to a payment received, you must notify the Bank immediately .
#### C.3 Delaying and Declining Payments
The Bank may delay or decline a payment or other instruction if the Bank believes or suspects, on reasonable grounds, that the payment involves fraud, does not comply with the law, or does not comply with financial crime obligations .
### D. Exchange Currency and Multi-Currency Account Terms
#### D.1 Exchange Rates
Exchange rates quoted by the Bank are subject to change. The rate at which a transaction is given effect to would be the effective rate for all intents and purposes .
#### D.2 Multi-Currency Holdings
Where you maintain balances in multiple currencies, the Bank may set off balances in one currency against liabilities in another currency. The Bank shall be entitled to convert any currency at the applicable exchange rate prevailing at the time of such conversion .
---
## Part 3: Fees and Charges Schedule
*(The following is a sample fee schedule. Actual fees shall be determined by the Bank and made available to Customers)*
| Service | Fee/Charge |
|---|---|
| Account Maintenance Fee | As specified in product terms |
| ATM Withdrawal (On-us) | Free |
| ATM Withdrawal (Other Bank) | As applicable |
| Fund Transfer (Online) | As per transfer amount |
| Fund Transfer (Branch) | As per transfer amount |
| Cheque Book Issuance | As specified |
| Stop Payment Order | As specified |
| Statement Request | As specified |
| SMS Alert Service | Monthly fee as applicable |
| Foreign Exchange Transaction | As specified |
---
*These Terms and Conditions were last updated on [Date].*
*For any queries regarding these Terms, please contact us through our customer service channels.*