TERMS AND CONDITIONS

YOUR AGREEMENT WITH US:

By signing below, l am (i) applying to First Atlantic Bank for the opening of an account and for banking services (ii) confirming that any details supplied are true and complete (iii) agreeing to be bound by the terms and conditions governing the operations of the account as set out hereafter.

TERMS & CONDITIONS SAVINGS ACCOUNT

1. To guard against access to the withdrawal slip by unauthorized persons
2. That interest should be paid on my Savings account at the prevailing interest rate
3. That interest will not be paid on my Savings account where more than three withdrawals have been made or as per ruling BoG directive.
4. That the applicable minimum balance shall be maintained on my account (Savings- GHC100.00)
5. That the Statement of Account will be sent to me quarterly and any discrepancies observed with entries on my account shall be notified to First Atlantic Bank within 15 days. Failure to receive any notice or information to the contrary, First Atlantic Bank shall assume that the entries made are correct.

CURRENT ACCOUNT

l hereby request and authorise you to:

1. Open a current account in my/our name at any time subsequently to open further accounts as I/We may direct, and unless I/We state in writing to the contrary.
2. Honour all cheques or other orders which may be drawn on the said account until the Bank receives any written notice to the contrary provided such cheques or orders are signed by me/us and to debit such cheques or orders to the said account whether such account be for the time being in credit or overdrawn or may become overdrawn in consequence of such debit without prejudice to your right to refuse to allow any overdraft and in accordance with the signing instructions and in consideration thereof I/We agree:

(a) To ensure full responsibility for the genuineness or correctness and validity of all endorsement appearing on all cheques, orders, bills, notes, negotiable instruments, receipts, and/or other documents deposited in respect of my/our account with the bank.

(b) To be responsible for the payment of any overdraft with interest and to comply and be bound by the bank’s rules for the conduct of a current account as determined from time to time.

(c) To free the bank from any responsibility for the repayment of any loss or damage to funds, instruments or documents deposited with the bank due to any Government order law, levy, tax embargo, moratorium, exchange restriction and I or other causes beyond the bank’s control.

(d) That all funds standing to my/our credit are payable on demand only in such local currency as may be in circulation

(e) To be bound by any notification of change in conditions governing the account directed to my/our last known address and any other notice or letter sent to/my last known address shall be considered as duly delivered and received at the time it would be delivered in the ordinary course of post

(f) That if the cheques credited to my/our current account is returned, dishonoured, the same may be transmitted to me/us through my/our last known address either by bearer or by post.

(g) That the bank will accept no liability whatsoever for funds handed to members of the staff outside banking hours or outside the bank’s premises, unless by specific agreement in writing with the bank.

(h) That my attention has been drawn to the necessity of safeguarding my/our cheque books so that unauthorized person are unable to gain access to it as failure or negligence on my/our part may lead to any loss being charged to my/our account.

(l) That the bank is under no obligation to honour any cheque(s) drawn on this account unless there is sufficient funds in the account to cover the value of the said cheques. 1/We understand and agree that any such cheque may be returned to me/us unpaid but if paid, 1/We are obliged to repay the bank on demand the principal amount as well as any interest and/or charges that the bank may prescribe.

(J) That any disagreement with entries on my/our bank statement will be made known by me/us within 15 days of dispatch of the bank statement. Failing receipt by the Bank of a notice of disagreement with the entries within 15 days from the date of dispatch of my/our bank statement, it will be assumed by the Bank that the statement as rendered is correct.

(k) That any sum standing to the debit of the current account shall be liable to interest charge at the rate determined by the bank from time to time. To authorize the bank to debit the account with the usual banking charges, interest, commissions and fees as may be determined by management from time to time.

(I) That the Bank may close at any time and from time to time any of my/our accounts with the bank by giving 7 days notice in writing to me/us at my/our correspondence address.

(m) That the Bank may act on any instruction to counter and/or revoke any cheque, draft, or other instruments before payment is effected.

(n) 1/We also agree that in addition to any general lien or similar right to which you as bankers may be entitled by law, you may at any time and without notice to me/us combine or consolidate all or any of my/our accounts with liabilities to you and set off or transfer any sum or sums standing to my/our credit in any one or more of such accounts or any other credit, be it cash, cheques, valuables, deposits, securities, negotiable instruments or other assets with you or any other respect whether such liabilities be actual or contingent primary collateral and several or joint.

(o) For Joint Accounts, we agree that, in the event of the death of either or both of us, the bank is to pay or deliver to or to the order of the survivor or survivors of us, all money, deeds, securities and other property whatsoever standing to the credit or held by the bank for any account or accounts in our joint name.

(p) First Atlantic Bank will not be responsible for any loss of funds deposited with it arising from any future court order, government order, levy, tax, embargo, moratorium, exchange restriction or any other cause beyond its control.
(a) Foreign currency /foreign exchange accounts) cash withdrawals from my/our account(S) shall be subject to availability.
() The Bank has an obligation to comply with any payment order issued by any court of competent jurisdiction in Ghana to the debit of the customer without recourse to the customer.

FIXED DEPOSIT

1. First Atlantic Bank must be notified before any investment under this fund is assigned, transferred or negotiated to any other person other than the investor and the Bank reserves the right to dishonour any instruction from any third party other than the investor if it is not notified before the assignment, transfer or negotiation.
2. The Certificate must be surrendered to the Bank at maturity/withdrawal of investment or any portion thereof.
3. The investment will be placed on call after the date on which it becomes repayable unless prior arrangement for its repayment has been made with the Bank
4. Rates may be adjusted in line with market realities.

EBANKING

1. I/We hereby authorize First Atlantic Bank to debit my/our account directly with all transactions undertaken using my/our Card(s)/Internet/Mobile Banking credentials and I/ we take full responsibility for these transactions.
2. I/we also agree to accept First Atlantic Bank’s transaction reference numbers, receipt of withdrawals and transactions as conclusive and binding.
3. First Atlantic Bank is authorized to debit my/our account with fees in respect of monthly usage of Card(s)/Internet/Mobile Banking services.
4. First Atlantic Bank and its agents reserve the right to ask for proof of a First Atlantic Bank Cardholder’s identity if the First Atlantic Bank Card is presented at its teller counters or Merchant points. This measure may be followed from time to time in order for First Atlantic Bank to protect its esteemed customers against the possibility of fraud
5. First Atlantic Bank is authorized to debit my/our account with fees in respect of the issuance, usage and renewal of the Bank’s Cards, and also for providing the services stated herein.
6. I /We understand that the First Atlantic Bank Card remains the property of First Atlantic Bank and I/we will surrender it unconditionally and without reservation upon demand by First Atlantic Bank.
7. I/ We undertake not to use or attempt to use the Card/Internet/Mobile Banking services without sufficient funds in my/our account to cover the transactions
8. First Atlantic Bank reserves the right to terminate the services stated herein at any time without incurring any liability (ies) whatsoever. Customers will however be duly informed of the termination of the services herein stated
9. I/We undertake not to use or attempt to use my/our card or access after the Bank has notified me/us of its cancellation/revocation
10. I/We understand that First Atlantic Bank may decline my/our application without any reasons given to me/us.
11. I/We understand that I am/we are liable for any transaction(s) that occur(s) on my/our account prior to reporting the compromise/ loss of my/our Card or internet credentials to First Atlantic Bank.
12. I/We undertake to promptly return all found Cards, previously reported by me/us as lost, stolen or misplaced, to First Atlantic Bank in the event that I/ we do find them
13. I/We undertake to immediately inform First Atlantic Bank, when the Card is lost, stolen or misplaced, giving details of the loss, theft or misplacement. I/We understand that if I/we fail to so inform First Atlantic Bank, I/we may increase the chances of the occurrence of fraud on my/our account, and First Atlantic Bank would not be responsible in any way or whatsoever for any unauthorized transaction(s) on my/our account during this period.
14. Under no circumstances will I/we disclose my/our Personal Identification Number (PIN)/Password to anybody, including family members, business colleagues and First Atlantic Bank staff, and First Atlantic Bank will not accept any liability should I/we disclose my/our PIN/Password to another person
15. I/We recognize that I am/we are not allowed to give my/our card to anyone except those involved in any Point of Sale transactions. The Card issued to you is owned by First Atlantic Bank and has been given to me/us in trust and is therefore not transferable.
16. I/We undertake to immediately inform First Atlantic Bank, when my/our access is stolen/compromised, giving details of the loss/compromise. I/We understand that if I/we fail to so inform First Atlantic Bank, I/we may increase the chances of the occurrence of fraud on my/our account, and First Atlantic Bank would not be responsible in any way or whatsoever for any unauthorized transaction(s) on my/our account during this period.
17. First Atlantic Bank reserves the right to vary these terms and conditions at its sole discretion and without notice to the applicant

DATA PROTECTION CONSENT

I/We fully authorize First Atlantic Bank, its affiliates and contracted agents to share any or all information relating to me/us and my/our bank account including without imitation, any personal information, reference provided and other credit information maintained with or obtained by the Bank and affiliates (including those obtained from credit reference agencies).
I/We authorize the Bank and its agents and affiliates to use, store, process, share, disclose and transfer (whether in or outside the jurisdiction of the Republic of Ghana) all information (including without imitation, information relating to my/our accounts, loans, debts etc.) as they may consider necessary in the administration of my/our accounts. I/We also agree that any information shared will be on confidential basis and that the Bank and its affiliates, agents third party service providers may disclose the information if necessary or permitted by law or requested by the Courts or any public regulatory authority for any reason.
I/We acknowledge that this consent does not limit any consent l/We have given or may give to the Bank to process or disclose my/our personal details.
I/We agree that the consent above is to be read in conjunction with the terms and conditions in the account opening form.

RIGHT OF SET – OFF

The Bank shall be entitled (but shall not be obliged) at any time and without notice to the Borrower to combine, consolidate or merge all or any of the Borrower’s accounts and liabilities, with and to the Bank anywhere whether in or outside the Republic of Ghana and may transfer or set off any sums in credit in such accounts in or towards satisfaction of any of the Borrower’s liabilities whether actual or contingent, primary or collateral notwithstanding that the credit balances on such accounts and the liabilities on any other accounts may not be expressed in the same currency and the Bank is hereby authorised to effect any necessary conversions at the Bank’s own rate of exchange then prevailing.

DEFERRED DOCUMENTATION

I/We hereby undertake to provide all documents deferred within thirty (30) days from the date of account opening and authorize the Bank to post a no debit instruction on my/our account in the event that I/We fail to provide the documents within she thirty (30) day period
I/We further undertake to indemnify the Bank from and against all actions, proceedings, damages, claims, costs, demands or expenses, which may be suffered, Incurred or sustained by reason or on account of the restriction placed on the account.