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Savings Account Terms and Conditions

1. DEFINITIONS
“Company” refers to Dialog Finance PLC offering the Dialog Pay Savings account.

“Account Holder” refers to the individual(s) in whose name the Dialog Pay Savings account is maintained.

“Account” refers to the Dialog Pay Savings account / Minor Dialog Pay Savings account maintained with the Company.
2. ELIGIBILITY
Dialog Pay Savings accounts may be opened by individuals who meet the identification and due diligence requirements prescribed by the Company and applicable laws and regulations. The Company reserves the right to refuse the opening of any account without providing reasons.
3. I, the Account Holder of the Dialog Pay Savings Account (“Account”) or the Parent or Legal Guardian of a Minor who is the beneficiary of the Account as the case may be, have read, understood, and agree to be bound by the terms and conditions set out by Dialog Finance PLC (“Company”) herein below.
4. I understand that the Company is recognized as a Prescribed Authority by the Department of Registration of Persons of Sri Lanka (DRP) under Section 39B(c) of the Registration of Persons Act No. 32 of 1968 as amended by Amendment Act No. 8 of 2016. Whereas I hereby consent to the Company accessing my National Identity Card (NIC) details maintained with the DRP, to assess the authenticity of the information provided by me including my below information;
Name

Address

Date of birth

Place of birth

Gender

Date issued

Photograph

Scanned copy of the front side and back side of the identity card

Scanned copy of the index containing information appearing on the Identity Card

Nature of the record (Active/Inactive/ Cancelled/Invalid)

5. I consent to Dialog Finance PLC sharing my information with its holding company, any of its subsidiaries or affiliates to provide integrated services or otherwise
6. On my request to open an eZCash Account with Dialog Axiata PLC, I consent to the Company sharing my information and verification documents with Dialog Axiata PLC for the specific purpose of Dialog Axiata PLC collecting such information for eZCash Customer Due Diligence and relevant monitoring and audit purposes. Such information and verification documents includes (but not limited to) my Full name, NIC details including NIC Number and Issued Date, Address Details, Mobile/Phone/ Email addresses, Date of Birth, Gender, Photographs, Nationality, Employment Information, Tax Declarations, Source of Income and Average Income details, NIC/Passport/Driving License Copy, Address Verification Document Copy all of which shall together and generally collected by the Company as ‘Know Your Customer Information’. I hereby explicitly agree that the Company shall be indemnified and held harmless at all times against any claims, suits, proceedings which may be brought against the Company pursuant to such information being shared with Dialog Axiata PLC as provided herein.
7. I have read and understood the key features of the Account provided herein below whereas I agree to the terms and conditions of the Account.
a. Minimum Deposit Amount – No restriction imposed.

b. Deposit made by a cheque in favor of “Dialog Finance PLC” –Credited only at the discretion of the Company.

c. Payment of Interest –Applicable interest rate as specified in the Company website calculated on a daily & credited monthly to the account.

d. Tax –Subject to taxes imposed by the relevant regulatory authorities from time to time.

e. Fees – The Account, related inward and outward transactions and services shall be subject to such fees defined by the Company as specified in the Company website from time to time.
8. I specifically and explicitly authorize the Company to verify my personal data and the accurate and up-to-date status thereof including and not limited to any geolocation validations, commencing from the date of making this declaration, by requesting for my accurate and up-to-date personal data including geolocation data from the Company’s holding company, subsidiaries or associates as the Company deems fit for providing integrated services related to servicing of the account, any loan facility or for loan recovery purposes.
9. Minor Accounts
If the Account Holder is a Minor, the below special conditions will also be applicable;

a) A minimum deposit amount will be applicable as maybe prescribed by the Company from time to time

b) The Minor in whose name the account is opened shall be the beneficiary of the deposits made to the Account. Hence, the balance lying to the credit of a Minor Account may only be withdrawn by a parent or a legal guardian of the Minor, for meeting the cost of medical treatment of the Minor or education purposes of the Minor by providing sufficient justification and documentary proof as maybe requested by and to the satisfaction of the Company.

c) Upon the Minor attending the Age of Majority
  • He/she should claim the balance or convert the Minor Account to a normal Dialog Pay Savings Account after providing his/her National Identity Card together with any other documents required by the Company to satisfy itself the identity of the person so claiming the funds along with the original birth certificate.
  • Where such balance is not claimed by the child after reaching the Age of Majority, the Company retains the right at its sole discretion to either convert the account to a Normal Dialog Pay Savings Account applying such rate of interest applicable to normal Dialog Pay Savings Accounts or in the alternative the rate of interest will be changed by the Company at its own discretion and could apply prevailing normal Dialog Pay Savings interest to the same account as the case maybe. I understand that upon the occurrence of either c(a) or c(b) of this Clause, the Company shall only correspond with the Minor and not entertain any claim or correspondence by me i.e. the parent and or legal guardian, on behalf of the Minor thereafter.
d) I understand that the Account cannot be closed on request by me until the Minor reaches the Age of Majority unless the child migrate to a foreign country which documentary proof will be submitted to the Company to such effect or at the instance of any court or administrative order to close, freeze or suspend dealings of the Account without prior notice to me, without being liable for any breach of any duty the Company may owe to me.

e) I permit the Company to hold, on the death of the Minor, any credit balance(s) on any Account/s in Minor’s name to the order of the legal heirs without prejudice to any right I as the parent and/or legal guardian may have or deem to take in view of any claim by any person other than survivors. For the purpose of this Clause, a ‘Minor’ means a person who has not attained the legal Age of Majority within the meaning of the Age of Majority Ordinance (Chapter 66) and any amendments thereto.
10. All reminders/requests and/or other general communications shall be sent by short messages services (SMS) to the mobile telephone number given by me/us (‘Registered Mobile Number’) and/or Email address given by me to the Company and I hereby agree that the said messages being electronic messages shall be deemed to be legally binding.
11. NOMINATION
I hereby agree to the terms and conditions governing the Nominee details I have included in the Account opening application.

Nomination shall have effect not withstanding anything to the contrary contained in any last will of the Account Holder

Nomination will stand revoked under the following circumstances;

On the death of the nominee in the life time of the Account holder.
  • By written notice of revocation of the nomination by the Account holder.
  • By a subsequent nomination duly made by the Account holder
  • In the event there being more than one nominee and no proportion for distribution is indicated, the monies lying to the credit will be paid to the nominees in equal shares.
  • The monies will be paid to the person / person legally entitled thereto in the event this nomination cannot be effected.
  • Payment will be made to a nominee only on production of proof of identity and company reserves the right to call for any information / documents that may be required
12. EMAIL INDEMNITY
Instructions sent via Email is available only for sharing instructions between the Company and me for the purpose of:

1. sharing the statement of accounts for Accounts held by me with the Company where applicable;

2. sharing of any change of profile details for my Accounts with the Company where applicable (subject to proof of documents to the satisfaction of the Company).

3. Request for closure of account and transfer of remaining balance to designated account

4. Unless expressly instructed by me and duly acknowledged by the Company, the Email address provided by me in the Account opening application will constitute my registered Email address for the purpose of this Clause.

5. Operation of the Account through Email shall be strictly confined to instructions sent through the aforesaid registered Email address and received by the Company via their Email address provided to me whereas the Company shall not in any manner be responsible for ensuring the validity and authenticity of such instructions.

6. I agree and understand that the Company shall only act on any Email sent by me and received by the Company during working days and normal business hours of the Company communicated to me, whereas the Company shall not be responsible for any failure / rejection of the instruction due to lack of availability of time for execution of such instructions.

7. The Company shall not be bound to act upon instructions received by Email, which are illegible, ambiguous or multiple in the Company’s opinion and which shall be the Company’s sole decision. The Company shall not be responsible for any losses or damages which I may suffer as a consequence thereof.

8. The Company acting upon the instructions received via Email as aforesaid shall not be responsible for any losses/damages incurred by me out of transactions undertaken based on such instructions. The Company shall specifically be excluded from any liability for consequences that may occur due to fraud or crime caused through my Email by me or any other third party.

9. I shall at all times be responsible for the compliance of all laws or regulations of all statutory, regulatory and enforcement bodies and will bearall claims, losses, damages, costs, liabilities and expenses incurred, suffered or paid by the Company acting upon the instructions received by me via Email as provided herein.
13. ONLINE PLATFORM
I agree and understand that for my convenience, the Company may make available certain online facilitates which I may access through a compatible Device (“Device” shall include any mobile phone and the sim card in use, tab or any such other device compatible with the online platform provided by the Company).

I agree and understand that any passwords used including any One Time Passwords (OTP) pertaining to the access of such online platforms are strictly for my use whereas I shall keep confidential and not share such passwords with any other third party at any time for any reason whatsoever.

I agree and understand that loss or theft of the Device used to access such online platforms pose a risk to exposing my sensitive data contained therein to third parties and I irrevocably agree to promptly inform relevant authorities regarding any loss or theft of my Device.

I further agree to promptly keep the Company informed of any such loss or theft of the Device without any delay and request the Company to block any access of the Account by third parties through the communication channels made available to me by the Company and informed to me by the Company from time to time.

I agree and understand that it shall be my sole liability whereas the Company shall not bear any responsibility or liability towards any claims, losses, damages, costs, liabilities and expenses incurred, suffered by me prior to informing the Company as aforesaid due to unauthorized access of my Account by third parties due to loss or theft of the Device.

I specifically agree and understand that in the event I fail to duly notify the Company as required herein, it shall be my sole liability whereas the Company shall not bear any responsibility or liability towards any claims, losses, damages, costs, liabilities and expenses incurred, suffered by me due to unauthorized access of my Account by third parties due to loss or theft of the Device or access of the platform

Agree and confirm that all instructions provided via the online platform or the application will be binding on me and the Company may not be held liable.
14. General Conditions
a. Acknowledges and understands the responsibility as an account holder / customer to notify or periodically update the Company of any changes in name, address, contact details or any other information provided to the Company in accordance with the Customer Due Diligence Rules, No. 01 of 2016, as outlined in the Extraordinary Gazette No. 1951/13 dated January 27, 2016, issued by the FIU. Failure to fulfil this requirement may lead to restrictions on boarding for banking services, limitations in carrying out transactions in the account.

b. Acknowledges that the Company reserves the right to modify fees, commissions, charges, and rates periodically. Details of these changes will be notified and prominently displayed on the Company’s website.

c. An account which carries no balance or zero value for a period more than 12 months may be closed by the Company, without prior notice.

d. The Company reserves the right to freeze or close the account under the following circumstances,
  • 1. Suspected fraudulent or Suspicious transactions
  • 2. Regulatory or legal requirements
15. Dormant Account
An account which is inactive for a period of more than 10 years will be considered to be Dormant account and shall be dealt with in accordance with the regulatory guidelines.
16. I agree and understand that the Company reserves the right to amend or vary the terms and conditions of the Account from time to time whereas the Company shall notify me of any changes to these terms and conditions prior to effecting the same.