Agreement on processing of instructions submitted via telephone (for individuals, including sole enterpreneurs)

1. By this Agreement the undersigned Customer confirms the acceptance of the terms stated hereunder and instructs HSBC Bank Armenia CJSC (hereinafter the Bank) to act in accordance with instructions of the Customer submitted via telephone which are related to the following activities and transactions:
   
   • Payments and internal, interbank and international transfers from bank account(s),
   • Loan payments, loan prepayment and change of repayment schedule after the prepayment,
     
   • Standing instructions on bank account(s) transfers,
     
   • Activation, suspension, renewal of ATM, Master/ArCA cards, temporary change of credit limits of Master/ArCA cards,
     
   • Changes of communication details (mailing, e-mail address(es), telephone number(s), including mobile phone number(s)) provided to the Bank,
   • Provision and update of Customer personal information at the initiative of the Customer as well as requested by the Bank,
     
   • Provision of instructions on unallocated gold sale, as well as interbank and international transfers from unallocated gold metal account(s),
     
   • Provision of information on account(s) balance and account(s) transactions as well as other information comprising bank secrecy,
   • Provision of instructions on purchase and sale of securities.
2. The Bank shall process the instructions after making proper verification of the Customer. For the purpose of proper identification the Customer shall correctly answer to the questions of the Bank's staff member, and provide the correct password, which shall be filled in by the Customer in the Bank's operational system. The password provided by the Customer shall be maintained only in electronic manner in the Bank's operational system.
   The Customer undertakes to ensure the confidentiality of password and other Identification details in order to prevent unauthorized usage by third parties of these details.
   The Customer acknowledges that any failure in preserving the confidentiality of password and other Identification details may result in access to such details by third parties and unauthorized implementation of transactions by such third parties, as a result of which the Customer may incur losses.
   The Bank shall not compensate the losses of the Customer suffered as a consequence of availability of Customer's password and other Identification details to third parties if it is not proven that such details became available to third parties by the fault of the Bank.
   Proper identification of the Customer during the process of submitting instructions herein is made based on checking of the Customer data available at the Bank.
3. During the process of submitting instructions and processing of transactions specified herein the Bank's employee is entitled to make telephone calls to the Customer to telephone number(s) provided to the Bank by the Customer in order to receive additional approval for transactions and provide information related to the Bank's services.
   
4. The total daily limit of all transactions of the Customer within the scope of this Agreement shall not exceed USD 10.000 (ten thousand) or its equivalent in other currency. At the mutual consent of the Bank and the Customer the Customer may effect transactions at the limit exceeding the maximum daily limit specified herein. The limit herein is not applicable to the transactions related to internal transfers between different accounts of the Customer with the Bank, as well as on securities purchase and sale instructions.
   The Customer may provide to the Bank instructions on implementation of transactions with unallocated gold during each working day of the Bank from 9:30 to 17:00. The instructions received on any other day and at other time during the day shall be deemed to be received on the next working day of the Bank following the day of receipt and shall be effected by the rates defined by the Bank for purchase of unallocated gold for that day.
   
5. The Customer is aware and agrees, that the Bank shall process the Customer's instructions on bank transfers and payments only if sufficient funds are available on the Customer's account(s). The Customer acknowledges that the Bank shall not be liable for the Customer's losses resulting from not processing the Customer's instruction due to absence of sufficient funds on the Customer's account(s).
   
6. The Bank shall have the right to refuse to act upon the Customer's telephone instruction if:
   a) the Customer does not respond correctly to the enquiries for the purpose of proper identification of the Customer,
   b) the Customer does not provide additional confirmation of instructions,
   c) the total amount of the transactions exceeds the limit specified in clause 4 of this Agreement,
   d) the Customer does not provide the password or provided incorrect password.
   e) if there are no sufficient funds necessary for implementation of the transaction on the Customer's account(s),
   f) on any other ground stipulated by the law and other legal acts
   g) if the Customer has not not performed any transaction from his/her bank accounts with the Bank within preceding twelve months.
7. The transactions on the bases of the Customer's instructions shall be processed in accordance with the Bank's "General Terms & Conditions for the Operation of Customer Bank Accounts, Bank Deposits, Electronic Banking and Other Banking services" (for individuals, including sole entrepreneurs), "Card products terms and conditions" the Agreement on provision of brokerage services signed between the Bank and Customer, as well as "The General Terms & Conditions for the Opening and Operation of Customer metal accounts" (hereinafter collectively referred as General Terms and Conditions).
   
8. The Bank shall bear no liability for the loss incurred by the Customer for processing instructions submitted in accordance with the procedure stipulated in this Agreement and also as a result of misinterpretation of an instruction due to any error, ambiguity or inaccuracy of the instruction.
   
9. The Customer hereby irrevocably undertakes to indemnify the Bank against any losses or expenses incurred by the Bank of whatever nature due to acceptance and/or acting in accordance with the instructions given under this Agreement and keep the Bank indemnified against any claims arising therefrom.
   
10. The Customer hereby gives consent to the recording of his/her telephone calls to the Bank as well as calls initiated by the bank.
    The Customer is aware and gives their consent that the Bank's employees may from time to time contact at the phone number(s) specified by the Customer for the purpose of advising the Customer on services provided by the Bank,any changes thereto as well as information on accounts.
11. The Customer gives its consent that the Bank may collect, process and use the personal data of the Customer for the purpose of processing this Agreement.
    
12. The Bank has a right to unilaterally change the terms and conditions of this Agreement with a one month prior notice to the Customer in the manner specified by the Customer in the Instruction on communication order.
    
13. This Agreement may be terminated:
    1. by the Customer by filing a written notice to the Bank thereon. This Agreement shall be terminated as soon as the termination notice is received by the Bank.
    2. unilaterally by the Bank by filing a prior notice thereon.
14. Termination of this Agreement shall not affect in any way the Customer's liabilities assumed according to the instructions given under this Agreement.
    
15. This Agreement shall be effective in addition to the Bank's General Terms and Conditions. The relations arising between the Parties in connection with this Agreement which are not regulated by this Agreement, shall be regulated by the Bank's General Terms and Conditions.
    
16. This Agreement is made and governed under the legislation of Republic of Armenia. This Agreement is made in two copies in Armenian and English. In case of discrepancies between English and Armenian versions of this Agreement the Armenian version shall prevail.
    
17. This Agreement shall enter into upon signing and shall be effective for indefinite period. The Bank commences to process Customer's instructions within 3 (three) working days stipulated in the RA legislation from the date of signing of this Agreement.
    

Last updated on: 18.01.23, 08:26