Important Changes to Customer Terms
With effect from 1 December 2016, our Customer Terms Clause 5.3 and 5.4 will be revised to allow acceptance of certain instructions by email for selected types accounts, products, and segments of customers.
The following is a summary of the changes:
Form of Instructions
5.3 Instructions must be given in writing. However, we may accept instructions by telephone, fax, email or through any electronic banking service. To accept such instructions we may require you to produce certain documents and we will notify you when we agree to accept instructions in such manner from you. You acknowledge that our accepting of instructions by email may be available only for certain types of accounts, products, segments of customers or on an exceptional basis upon your request to us.
You are responsible for ensuring the timeliness, accuracy, adequacy and completeness of all instructions given by you. We will not be liable for any loss or damage as a result of:
- your instructions to pay or transfer funds being late, inaccurate, inadequate or incomplete; or
- any third party refusing or delaying to pay or transfer the funds to the account of the intended payee.
5.4 You acknowledge that email is not a completely reliable or secure method of communication. Should you choose to use email to communicate your instructions to us:
- you shall use the email provided to us and acknowledge that we will not act on any instructions sent by you to us, if such email is not sent from the email provided to us;
- you accept that all incoming correspondence sent by us at the email provided shall be deemed to have been received by you;
- you acknowledge that email is not a completely reliable or secure method of communication, and you will not assume receipt by us of any instruction or communication that you send by email to us;
- you accept that we may, under circumstances determined by us, require from you confirmation or verification of any instructions or communication in such form or manner as we may specify before acting on the same; and
- we will not be liable for any failure or delay in acting on any of your instructions or communication by email by reason of any breakdown or failure of transmission or electronic equipment or facilities for whatsoever reason, or breakdown of or delay or error in transmission or communication (including without limitation any misdirection of your instructions or communication within the Bank) for any reason, or any cause beyond our control.
However, you must not use email to send us any notice in connection with any of our banking agreements.
When will the changes be effective?
The revised terms will apply from 1 December 2016.
Where do I obtain copies of the revised terms?
You may obtain a copy of our revised Customer Terms on our website at sc.com/sg from 1 December 2016. Alternatively, you may also visit any of our branches or call 1800 747 7000 to request for hard copies of these terms from 1 December 2016.
Who can I call if I have questions on these changes?
If you have any questions on the changes, please call 1800 747 7000 or visit any of our branches.