Understanding your Bank Account and Services

Customer Account Integrity

As we provide you* with our banking products and services, we are also required to meet regulatory standards on customer due diligence – a standard practice across the financial industry – and review our customers’ accounts on an ongoing basis.

Conducted in adherence to our Privacy Policy, our reviews include observing the conduct of your accounts and reviewing certain transactions to ensure that they are consistent with our knowledge of your profile, as well as the source of funds (where appropriate). In particular, the transactions and account activities would be scrutinised for money laundering or terrorist financing risks.

From time to time, we may also contact you to seek clarifications regarding your account activities. This is for us to understand the purpose of certain transactions and to review how these transactions are consistent with your account behaviour and ensure the integrity of our customers’ accounts.

Account Activities and Standing

We value each relationship we have with every customer. However, where there are unusual activities involving you or your related parties in your account activities which we do not support, we may have to terminate our banking relationship with you.

Here are some useful tips in managing your account to ensure that it is in good standing:

• Use your individual account for your personal transactions only. If you need a banking account to manage your activities of your business, you should open a separate corporate banking account.
• Be aware of the list of sanctioned countries and avoid transferring funds or use our banking facilities in these countries. Refer to our Sanctions Policy Statements for details.
• Ensure the balance in your account is above the prevailing prescribed minimum.
• Treat our bank staff with mutual respect – we are here to help you! Should you have any feedback, please Get in Touch with Us.

The following scenarios could lead to the account and/or operation of the account being terminated or suspended:

• You were involved with a criminal offence, or had used the account for suspicious transactions or unlawful activities, rendering it necessary for us to close the account to comply with applicable laws and regulations.
• The conduct of your activities and transactions are not consistent with our knowledge of your business and risk profile, as well as the source of funds.
• You failed to pay any amount due to the bank.
• You failed to perform or comply with obligations under the terms and conditions of our products and services.
• Any event occurs which adversely affects your financial condition.
• There were no transactions on the account for such period of time as we may stipulate.
• A court declares that you lack the mental capacity to manage your account.
• You are declared a bankrupt or insolvent.

*"You" and "your" may include your mandatee(s), donee(s), administrator(s) and/or executor(s) as appropriate.