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These Terms and Conditions govern the use of
the Citibank GIRO (as hereinafter defined) which are to be read
together with the relevant Account Terms and Conditions, as well
as Citibank's rules and regulations and any other rules
and regulations binding on Citibank, including but not limited
to the rules, regulations, manuals and/or guidelines of any funds
transfer system to which Citibank belongs.
In these Terms and Conditions, the following
terms and expressions shall have the following meanings unless
the context requires otherwise:-
"Account(s)" means
any one or more accounts held by the Account Holder with Citibank
(including without limitation to current, savings, fixed deposit,
Time Deposit, investment, loan and/or credit card(s) accounts)
to participate or transact through the Inter-bank GIRO system
in accordance with the terms and conditions herein and as determined
by Citibank from time to time.
"Account Holder"
means any person including a company or corporation who maintains
one or more Account(s) with Citibank, and shall include all joint
holders of the Account(s).
"Business Day" means
any day on which Citibank in Kuala Lumpur, Malaysia is open for
business.
"Citibank" means
Citibank Berhad Malaysia.
"Funds Account"
means an account held by the Account Holders or any third parties
maintained with any Participant.
"Fund Transfer Instructions"
means the instructions given by the Account(s) Holder via any
Mode including but not limited to over-the-counter, Citibank Online,
CitiPhone or such other mode as may be prescribed by Citibank
from time to time ("Mode") to debit funds from either
the Account Holder's current or saving accounts maintained
with Citibank and to credit into a Funds Account through the Inter-Bank
GIRO System.
"GIRO" means the
Citibank Inter-bank GIRO service effected through the Inter-bank
GIRO System.
"Inter-bank GIRO System"
means a fund transfer payment system operated by Malaysian Electronic
Payment Systems (1997) Sdn. Bhd. (including its successors in
title and assigns) to allow the Account Holder to request its
bank to make inter-bank payments or collection of payments to
either the Account Holder's own account or to any third
party account(s) maintained with a Participant.
"Mode" means any
mode including but not limited to over-the-counter, Citibank Online,
CitiPhone or such other mode as may be prescribed by Citibank
from time to time.
"Participant" means
any bank or financial institution (other than Citibank) licensed
under the Banking and Financial Institution Act, 1989 carrying
on banking business or finance company business or banking and
finance company business in Malaysia which is a participant to
the Inter-bank GIRO System.
"Statement of Account"
means the consolidated statement of account issued by Citibank
every month to the Account Holders setting out transactions of
their Account(s).
- Account Holders shall be able to access the
GIRO service via any Mode and in accordance with the procedures
and terms and conditions as may be prescribed by Citibank from
time to time.
- The minimum and maximum amount of funds that
may be transferred through GIRO shall be as prescribed by Citibank
from time to time and may vary from one Mode of GIRO to another
Mode of GIRO through Citibank facilities.
- Account Holders intending to use GIRO shall
submit to Citibank the Fund Transfer Instructions in such form
as may be prescribed by Citibank from time to time and shall
include all such information as required by Citibank. Upon submission
of the Fund Transfer Instructions, such Fund Transfer Instructions
shall be deemed fixed, finalized, effective and binding on the
Account Holder.
- All Fund Transfer Instructions received by
Citibank which are duly completed by the Account Holder will
be processed at such designated times on the Business Day on
which the instructions was issued, or by the next Business Day,
or such other day as at Citibank's absolute discretion.
- The Account Holder is responsible to pay
for all service charges, transaction fees and/or any other amounts
imposed by Citibank in respect of the GIRO service. Citibank
reserves all rights to vary such service charge, transaction
fees and/or impose additional fees or charges from time to time
without prior notice to the Account Holder.
- The processing of the Fund Transfer Instructions
by Citibank shall also be subject to the terms and conditions
and/or approval of the Participant with which the Funds Account
is maintained.
- The Account Holder is responsible to nominate
and ensure that the Funds Account is a designated account capable
for the receiving, payment and/or collection of funds via GIRO.
It shall be the responsibility of the Account Holder and not
of Citibank to ensure the accuracy of the particulars of his/her
Account given to any Participant either by the Account Holder
or a third party so as to enable a successful transfer of funds
from the relevant Funds Account into the relevant Account(s).
- The Account Holder is responsible to ensure
that their Account(s) have the available funds for transfer
at the time of processing of the Fund Transfer Instructions.
Citibank shall not be obliged to carry out any payment instructions
unless the Account(s) have sufficient funds.
- Citibank is not obliged to inform the Account
Holder of any rejection (if any) in respect to any Fund Transfer
Instructions. The onus lies with the Account Holder to ensure
that all details and particulars of the Funds Account is accurate
and complete.
- Citibank is not obliged to inform the Account
Holder of any receipt of funds through GIRO in his/her/its Account(s)
upon receipt of the same or the results of remittance of funds
from the Account to the Funds Account. Such information may
be obtained by the Account holder through CitiPhone or Citibank
Online or Statement of Account.
- By providing the GIRO service
| 11.1 |
Citibank shall not be responsible or liable for any loss,
claim, cost, action or damage incurred or suffered by the
Account Holder and/or any third party as a consequence of
the use of the GIRO service. |
| 11.2 |
Without limiting the generality of Clause 11.1, Citibank
shall not be responsible for, and shall be indemnified by
the Account Holder against any loss, damage or any embarrassment
caused, or sustained (including without limitation to loss
of income, profits or goodwill, direct or indirect, incidental,
consequential, exemplary, punitive or special damages of any
party including third parties) of whatever nature and howsoever
arising, including but not limited to the following situations: |
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| 11.2.1 |
Where the other Participant to which the Fund Transfer
Instructions has been made to, has been delayed, rejected,
refused or is otherwise unable to accept such Fund Transfer
Instructions. |
| 11.2.2 |
Where the Account Holder has failed to maintain sufficient
funds in the Account(s) to give effect to the Fund Transfer
Instructions; |
| 11.2.3 |
Where the Account Holder has failed to provide Citibank
with the timely, complete and correct information for
the Fund Transfer Instructions including but not limited
to the particulars of the Funds Account(s); |
| 11.2.4 |
Where an order of court, governmental directive or
regulation or legal requirement directs Citibank to
prohibit withdrawals from the relevant Account(s); |
| 11.2.5 |
Any other circumstances beyond the reasonable control
(such as force majeure or improper or handling of payments
by a third party) of Citibank preventing the processing
of the Fund Transfer Instructions; |
| 11.2.6 |
Any destruction or alteration of the Fund Transfer
Instructions transmitted by the Account Holder through
no fault of Citibank; |
| 11.2.7 |
Any failure to credit the Account(s) with funds arising
from instructions received from a Participant through
the Inter-bank GIRO System for any reason whatsoever
and howsoever. |
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Outward Fund Transfer
