Terms and Conditions

Effective September 2017

GENERAL TERMS AND CONDITIONS FOR CLIENTS right so to vote has been suspended by the happening of such
a contingency.
The General Terms and Conditions (hereafter referred to as
the ‘Terms and Conditions’) state the rules that govern the “Bank’s ATM” means any ATM operated by the Bank or any
business relationship between JMMB Bank (Jamaica) Limited other ATM machine accessible by the Bank’s Cardholders.
(hereafter referred to as ‘the Bank’) and the Account Holder
for operating the Account Holder’s bank account(s) and “Card” means any debit card that is issued by the Bank to an
deposits. Account Holder or such Account Holder’s nominee. The term
The Account Holder agrees to be bound by these terms “Card” includes the Card number unless otherwise specified.
and conditions in consideration of the bank opening and
maintaining an account at the request of the Account Holder. “Cardholder” means any person to whom a Card is issued by
the Bank.
A. GENERAL TERMS AND CONDITIONS
“Designated Bank Accounts” mean those accounts which
Definition and Interpretation can be accessed through and ATM Point-of-Sale or Touch
Unless the context otherwise requires throughout these Tone Telephone or Internet or such other means as may be
Terms and Conditions where the context so requires: (a) defined by the Bank from time to time.
words denoting the singular include the plural and vice
versa; (b) words importing a gender include every gender; “Moneyline Credentials” includes any username,
(c) the word “person” includes any individual, company, firm, password, personal identification number access code
partnership, joint venture, association, sole proprietorship used by an Account Holder to access the Bank’s Internet
or other incorporated or unincorporated entity; and (d) the Banking Facilities.
following expressions have the meanings stated hereunder:
“Moneyline Facilities” includes the Bank’s official website,
“Access Code” includes any Personal Identification Number software programs and Internet Banking Credentials made
(PIN) used with a Card or any combination of letters, numbers available by the Bank which allows Account Holders to
and special characters that are required to access a Designated conduct banking business via the internet and to give
Bank Account through an ATM or Point-of-Sale device or electronic instructions to the Bank for the execution of
other means as may be permitted by the Bank from time to time. transactions.
“Minor Account Holder” means an Account Holder who
“Account Holder” including a joint account holder, means has not attained Eighteen (18) years of age.
a client of the Bank including but not limited to individuals,
partnerships, limited liability companies, trusts, entities “Point-of-Sale” means the retail payment system whereby
incorporated by statute and unincorporated associations; an electronic transfer of funds is effected in the purchase
of retail goods and services by an electronic device used by
“Adult Account Holder” means an Account Holder who has merchants, retailers and service providers to transmit requests
attained Eighteen (18) years of age. for authorization and settlement of transactions by the use of
the Account Holder’s Card issued by the Bank and evidenced
“Affiliated Company” in relation to the Bank means a by use of an Access Code or the use of Credit Cards issued by
company which controls, is controlled by or under common the Bank.
control with the Bank or which is a part of a group of
companies of which the Bank is a member. For purposes of this “Regulatory Authority” includes but is not limited to the
definition, the term “control” (including the terms “controls”, Bank of Jamaica, the Financial Services Commission and the
“controlling”, “controlled by” and “under common control Minister with the responsibility for Finance, as well as any
with”) means the possession, direct or indirect, of the power agent acting on behalf of such persons and any other person
to vote more than 50% of the voting shares of such company who may by law be given power to regulate or supervise the
or to direct or cause the direction of the management and activities of the Bank or its facilities.
policies of such company, whether through the ownership
of voting shares, by contract or otherwise and “voting shares” “Standing Order Instruction” means an instruction given to
means shares issued by a company or other corporate the Bank by an Account Holder to pay a set amount at regular
body which ordinarily, in the absence of a contingency, carry intervals from the Account Holder’s account to another of
entitlement to vote for the election of directors, even if the the Account Holder’s accounts or to a third party beneficiary.
 the account with General Consumption Tax on any charges
In these Terms and Conditions the headings which associated with the operation of the account or services
accompany clauses are for convenience and reference only, provided by the Bank to the Customer; and (c) the authority to
and are not intended to define or limit the meaning, scope charge against and deduct all banking and service charges and
and contents of these Terms and Conditions. fees prescribed by the Bank from the account and the Bank shall
not be liable for dishonouring items in the event the deduction
1. Application of Standard Terms and Conditions of such charges and fees results in there being insufficient
These General Terms and Conditions apply to all bank funds in the Account Holder’s account to honour such items.
accounts, whether existing or future, operated or to be
operated by Account Holders (whether solely or jointly with 5. Collection Agents
others) unless any specific terms and conditions applicable to The Bank is hereby authorized to use other banks, entities
an account provide otherwise. or other persons as it deems fit, as collection agents or
correspondent banks in doing any act in connection with the
2. Deposits business of the Account Holder or otherwise as agents for the
Deposits to the Account Holder’s account or items received offering of such products and services as may be permitted by
for deposits or enchased for any Account Holder are received law. The Bank will exercise skill and care and use due diligence
by the Bank as agent for the Account Holder and will be in the selection of the agents and correspondent banks, but
credited to the account subject to receipt to unconditional will not be liable to the Account Holder for any loss arising out
final payment. Where the Bank does not receive final of any default, neglect, misconduct, mistake, act or omission
payment, any item previously credited to the Account of such other bank or agent who, when acting as collection
Holder’s account may be charged-back to the account by the agent or correspondent bank, shall be deemed the agent of
Bank without notice to the Account Holder whether such the Account Holder.
item was encashed or deposited or already drawn upon. The
Bank shall not be responsible or liable to the Account Holder 6. Remittance Instructions Indemnity
for any loss or destruction of an item in transit or otherwise or Instructions as to the payment or transmission of remittances
in the possession of others including any correspondent bank if made through or by any Account Holder are done at the
or collection agent. Account Holder’s risk, and the Account Holder releases
the Bank, its correspondents and agents and agrees to
3. Waiver of Protest indemnify and hold them harmless from and against liability
The Account Holder hereby waives all requirements of for any irregularity, delay, error, omission, or misinterpretation
presentment, notice of dishonor or default, protest, demand that may arise and from and against any loss or expense which
and notice of kind with respect to all cheques, drafts, bills of may be incurred as a result of the Bank’s correspondents and
exchange, promissory notes and other negotiable instruments agents failing to properly identify the person named in the
drawn, made accepted or endorsed by the Account Holder instructions or delay the payment of funds remitted
and delivered to the Bank for any purpose whatsoever and pending confirmation of the identity of the person, or of
the Account Holder shall be liable to the Bank, in respect the instructions. The Account Holder further agrees to so
thereof as if presentation, notice of dishonor and protest had release, indemnify and hold the Bank harmless in relation to
been duly made or given. any risks that may arise from exchange rate fluctuations in
the course of any transmission or remittances transaction.
4. Debiting Accounts
All bank accounts shall be subject to such charges and fees as 7. Availability of Funds
the Bank prescribes from time to time which charges and fees The Account Holder will not be entitled as of right to draw
the Bank reserves the right to adjust from time to time without against cheques or other items which are lodged to the
notice in the ordinary course of business. It is understood and account while they are subject to the possibility of
agreed that the Bank is entitled to debit the Account Holder’s nonpayment (‘un-cleared effects’). Where the Bank at its
account with any tax obligations(s) associated with the discretion accepts instructions for withdrawal, transfer or
operation of the account and interest earned thereon, payment out of any Bank Account, the Bank is entitled
charges applied by the Bank for the services provided, and this subsequently reject such instruction if it transpires for
authority shall without limiting the generality of the foregoing whatever reason that there were, are or will be insufficient
include: (a) the authority to withhold income tax on interest funds in the currency concerned available in the relevant Bank
earned on any savings or deposit account and debit the Account when the Bank intends to execute the instruction.
account with the tax so withheld; (b)the authority to debit This policy on availability of funds will not, however, affect
the Bank’s right to charge- back the account or obtain account and the Bank shall have the right to recover by suit
reimbursement for any item that is not finally paid for any or otherwise from all or any Account Holder the amount
reason whatsoever and the Account Holder shall have an owing on the account. The Bank is authorized to accept for
obligation to repay the Bank where the Bank has made deposit to the account money and items in the name(s) of or
payment against un-cleared effects and payment is not belonging to any one or more of the Account Holders. The
subsequently received for the item deposited. Account Holders hereby charge and the Bank is hereby
authorized, to charge and set-off moneys in the Joint Account
8. Honouring Withdrawals Holders. In the event the Bank receives an Order of the Court
The Bank is authorized to honour any item or order drawn or other legal process which has the effect of charging or
on the account even though the signature thereon does not garnisheeing moneys standing to the credit of the joint
correspond exactly with the Account Holder’s specimen Account Holders it is understood and agreed that the Bank is
signature in the Banks’s records. However, the Bank, reserves obliged to comply with the legitimate order of the Court.
the right to dishonor any item or order drawn unless the
signature corresponds exactly with the Account Holder’s 11. Authority to Act on Accounts
specimen signature in the Bank’s records. Where an Account is a joint account, each Account Holders
has full power to act alone in all matters related to the account,
9. Set-off and Combination (unless the Account Holders instruct the Bank otherwise)
The Account Holder and any joint Account Holder authorize including the provision of indemnities in relation to lost cheques
the Bank at its absolute discretion at any time and without and the Bank is hereby authorised and shall not be held liable for
notice, to combine the balance of one account with the accepting deposits to the account, moneys and items, and/or
balance of another of the Account Holder’s accounts, so as for paying out, or refusing to effect payment of moneys from
to treat them as a single balance, and there will be no implied the account, on the instructions of any one or some of the
agreement to the contrary. If the Account Holder is indebted Account Holders during their lifetime or on the instructions
to the Bank including with respect to any contingent liability of any survivor or survivors of the Account Holders or of the
or bank charges, whether owed alone or with others, the personal representative of the last surviving Account Holder.
Account Holder authorizes the Bank, without prior notice,
to set-off and apply any credit balance in any account, or any 12. Operation of Account and Computation of Interest
other amount the Bank owes the Account Holder, towards An Account Holder may operate an account by deposits,
the indebtedness. For this purpose the Account Holder withdrawals, transfers, direct credits, direct debits, automatic
authorizes the Bank without prior notice and in any sequence, payments or any other type of deposit or payment authority
to transfer funds from one account to another (including any acceptable to the Bank which shall have the right from time
joint account), to use funds in one currency to buy another to time to establish or vary the conditions for the operation
currency and to break any term deposit or other investment of the account, including but not limited to, those in respect
instruments. The bank is also authorized to set-off any of setting of rates both debit and credit interest, the time and
indebtedness of the Account Holder to any of the Bank’s manner of calculation and payment of interest, fixing of service
ffiliated Companies in the same manner aforesaid. The and other banking charges, and determining deposit and
authorization granted by the Account Holder herein is in withdrawal procedures. In calculating interest on funds
addition to any right the bank has in law to combine or that were in the Account Holder’s account during an
consolidate the accounts and liabilities of the Account Holder appropriate interest payment period the Bank may deduct
by the Bank against the indebtedness of the Account Holder. all transfers, withdrawals, fees and other charges against
the oldest available deposits from the relevant account.
10. Joint Holder
An account held by more than one Account Holder is a joint 13. Receipt of Orders or Claims
account and the Account Holders agree that the moneys in Should the Bank receive any claim, order, summons, lien, notice,
the account are held by them as joint tenants with the right injunction, execution, restraint, levy, directive from the court or
to survivorship and there will be no implied agreement to the other process (hereinafter called “order or claim”), which in the
contrary. A Joint Account Holder’s authority in respect to the Bank’s opinion affects the account, the Bank will and is hereby
joint account will otherwise cease on proper notification of authorized by the Account Holder to comply with the terms
that Joint Account Holder’s death being provided to the Bank. of such order or claim to the extent the Bank determines is
The liability of account holders under an account held in joint reasonably necessary, without first giving notice thereof to the
names is joint and several. This means each and/or all account Account Holder and without questioning or determining the
holders are liable for the whole of the debit balance on the correctness or legitimacy of such order or claim. The Bank
may also at its absolute discretion and at its option and without that if the amount indicated on the cash deposit slip differs
liability thereof refuse to honour or pay orders to withdraw or from the amount determined by the Bank’s later cash count,
transfer sums from the account and hold the balance therein the Bank’s later cash count shall be final and conclusive
until the order or claim is disposed of in a manner which leaves evidence as to the amount deposited.
the account unencumbered to the satisfaction of the Bank.
18. Indemnity
14. Debit Cards The Account Holder hereby agrees to indemnify the Bank
The Bank may at its discretion issue to the Account Holder or against any loss, charge or expense which the Bank may suffer
any of them debit card(s) on the account giving the Account or incur as a result of its compliance with these terms and
Holder access to an ATM, the ability to conduct points of conditions or resulting from any future Government order,
sales transactions and/or electronic transactions using the law, levy, tax, embargo, moratorium, exchange restriction and/
internet or other electronic communications systems as may or all other causes beyond the Banks’ control and to absolve
permitted by the Bank from time to time. The Account and hold the Bank harmless from all liability for loss or damage
Holder agrees to be bound by the terms and conditions which the Customer may suffer as a result.
stipulated by the Bank as governing the use of any debit card
issued and made available to the Account Holder. 19. Suspending Transactions
Transactions on the Account Holders account(s) including but
15. Automated Clearing House/ Networks not limited to, withdrawals and the honouring of cheques and
instruments, may be suspended by the Bank, in whole or in
Transactions involving Automated Clearing House Debits and
part where:
Credits or other networks are governed by the agreements,
(a) The Bank is the opinion that suspension would facilitate
rules and regulations of those networks. The Bank will not be
compliance by the Bank, or the Account Holder, with an order
responsible for any delay in refunds or other inconveniences
by a court or other competent authority in relation to the
experiences by the customer arising from the operations of
Account Holder’s account(s) of which the Bank becomes aware;
those networks.
(b) The Bank reasonably believes that the Account
16. Instructions to the Bank Holder’s account(s) has been, is being or may be used for
The Bank may in its discretion and subject to conditions allow unlawful activity or any activity the Bank in its absolute
the Account Holder to give instructions in respect of any of discretion may consider to be improper including but not
accounts by cheque, telephone, facsimile, card or computer or limited to activities related to money laundering and the
by any other written, electronically communicated or verbal financing of terrorist activities;
method acceptable to the Bank and the Bank may require the (c) The Bank considers such suspension to be
Account Holder to provide written, indemnity before making necessary or appropriate having regard to directives
any such facility available. The Account Holder may verbally, in and/ or advice received from a Regulatory Authority; Or
writing or otherwise request the Bank to effect funds transfer (d) The Bank otherwise considers such suspension to be
or withdrawal instructions by wire or otherwise. The Account in the best interest of the Bank and/ or its Account Holders.
Holder shall submit instructions and confirmation in the The Bank’s liability for suspending transactions on the Account
manner required by the Bank during normal banking Holder’s account(s), or for the consequences thereof, shall be
hours. The Bank reserves the right to refuse to accept such limited to the interest that would otherwise have been paid by
instructions and the Bank is under no obligation to verify an the Bank to the Account Holder on the credit balances in the
instruction received and may act upon the instruction if the said account.
Bank believes same to be authorized. However the Bank is,
20. Correction of Errors
under no obligation to accept such instructions and will not
In the event of any error made by the Bank in recording any
be liable for failure to transfer or withdraw funds to or from
entry to the Account Holder’s account(s), the Bank shall have
the account if the Bank believes that the instructions are
the right to make necessary correction and on the discovery
unauthorized or are unclear and the Bank’s determination in
this regard shall be final and conclusive. of such error may correct same by reversing or adjusting the
entry as necessary without advance notice to the Account
17. Deposits Subject-to-Counting Holder and recover the amount due (if any) from the
Cash deposits made by the Account Holder or on his Account Holder. The Bank will make every effort to contact
behalf which are not verified immediately by the Bank are the client, if and when an adjustment is made. The Bank shall
subject-to-count by the Bank. The Account Holder agrees not be liable to the Account Holder for any loss or damages as
a result of the error made.
 stop payment requirements and the Bank does not accept the
21. Termination and Closing Account instructions to stop payment; or (b) if the Bank determines
In the event that the Bank is of the opinion that it is necessary, not to stop payment on a certified draft or official cheque
prudent or in its interest to do so, the Bank may terminate any from the Bank; or (c) if the Bank fails to stop payment on a
or all outstanding transactions and may close any or all accounts postponed cheque, draft or item; (d) if the instrument, cheque,
held or the Account Holder by giving the Account Holder five draft or item is paid through inadvertence or oversight, or
(5) days written notice of such termination or forthwith upon through misdescription provided the Bank has, in good faith,
breach by the Account Holder of these terms and conditions followed the usual procedures in handling stop payment
or upon the bankruptcy liquidation receivership of the orders. The Bank shall be entitled, but not obliged, to treat any
Account Holder. At any time after the expiration of the notice oral instruction to stop payment of a cheque as not binding on
period the Bank may, at the risk of the Account Holder, forward the Bank unless such instructions are immediately confirmed
by ordinary mail to the Account Holder’s address on record, a in writing and acknowledged by the Bank. The Account
cheque for the balance of funds if any, on the closed account. Holder agrees to indemnify the Bank and hold the Bank
Any items drawn or presented for payment or deposit on the harmless against any loss resulting from: (a) the Bank’s
account subsequent to such notice of termination may be compliance with any stop payment orders given by the
declined by the Bank and returned to the Account Holder. The Account Holder; and (b) the Bank’s failure to comply with
Bank shall not be liable for dishonouring or returning such item. the Account Holder’s stop payment order where such not
compliance is due to the failure of the Account Holder to issue
B. CURRENT ACCOUNTS the stop payment order in a timely fashion thereby fashion
thereby affording the Bank a reasonable opportunity to act
1. Cheques upon the stop payment order. Stop payment orders shall be
The Account Holder accepts responsibility for safe guarding ineffective it: (a) the item has already been paid for prior to
cheque book(s) issued to the Account Holder by the Bank issue of the stop payment order; or (b) the Account Holder
to ensure that unauthorized persons are unable to gain has taken any other action to pay the item before the stop
access and neglect of this precaution may be grounds for any payment order becomes effective.
consequential lass being charged to the Account Holder’s
account. All cheques and other payment items used with 3. Authorization to Honour Cheques
respect to the Account Holder’s account(s) shall be drawn on The Account Holder authorizes the Bank to honour and
cheque leaves supplies by the Bank or otherwise encoded in a comply with instructions in relation to all negotiable instruments
manner satisfactory to the Bank. The Account Holder agrees including cheques, drafts, bills of exchange, promissory notes,
to use only such cheques as may be drawn on cheque leaves acceptances, and orders expressed to be drawn, accepted,
supplied to the Account Holder by the Bank or authorized by made, or given by the person(s) authorized and notified to
the Bank for use by the Account Holder at the time the cheque the Bank in a form acceptable to it, whether the Account
is presented to the Bank for payment. The supply of cheque Holder’s bank account is overdrawn or any overdraft is
leaves shall be subject to Bank charges, which may be applied increased by any payment thereof or in relation thereto, or
to the Account Holder’s account(s). The Account Holder is otherwise in credit, with funds cleared or uncleared but
agrees to release, indemnify and hold the Bank harmless in without prejudice to the Bank’s right under these
respect of any damages or losses arising from the Account Terms and Conditions to refuse to allow any overdraft
Holder’s failure to comply with this clause, or which could have or increase of over draft provided any such negotiable
been prevented by the Account Holder complying with this instruments, cheques, drafts, bills or exchange, promissory
clause. The Bank shall not be bound to honour cheques and notes, acceptances, and orders are signed by the
items that do not comply with these Terms and Conditions. person(s) authorized and notified in writing to the Bank.

2. Stop Payment Order 4. Overdraft

Provided that the Account Holder gives written instructions by The Account Holder is not authorized to overdraw the
an authorized signatory(ies) on the account to stop payment, account without the written authorization of the Bank. In
specifying the account number, payee, date, the amount and the event the Bank in its discretion permits an overdraft, the
number of the instrument, cheque, draft or item drawn on the Bank will be entitled and is hereby authorized, without notice
account, the Bank will make reasonable efforts to effect the or demand, to charge fees and/or compound interest on the
stop payment order from the Account Holder. The Bank shall amount of the overdraft during the continuance thereof. The
not be liable for failure to effectuate a stop payment order if: Account Holder agrees and undertakes forthwith the pay the
(a) the Account Holder does not comply with all of the Bank’s overdraft amount in full, any fees charged by the Bank and any
interest accrued on the said amount which interest shall be account and the cheques, other evidence of debit entries and/
calculated on daily balances compounded at monthly rests or vouchers relating to and accompanying it (if any) are issued
at the rate of interest charged from time to time as the Bank by the Bank, of any alleged omissions from, errors or debits
in its sole discretion may determine. The Bank is under no wrongly made to the account and inaccurate entries in the
obligation to permit or to continue to permit overdrafts statement may include but are not limited to, debits wrongly
on the account unless agreed to in writing and reserves made as a result of or arising out of any negligence, forgery of
the right to close an account with an authorized overdraft. a drawer’s signature on any cheques, forged debit entries and/
or vouchers and any fraud whatsoever and by whomsoever
5. Statements and Verification caused which impairs or affects the regularity, validity or
The Account Holder agrees with the Bank that: negotiability of any instrument.
(a) The Bank will periodically make available to the Account (g) At the expiration of the aforesaid fifteen (15) days
Holder in electronic form or send to the Account Holder via mentioned at sub-paragraph (f) above, the said statement shall
electronic or ordinary mail at is address on record, unless be conclusive evidence as against the Account Holder that
requested in writing by the Account Holder not to do so, a the statement contains the correct credit and debit entries
statement in respect of the Account as determined by the (except as to any alleged errors, omissions, wrongful debits or
Bank from time to time, accompanied by the items paid inaccuracies notified as provided in this provision) and that the
(or copies thereof) and other evidence of debit closing balance on the statement is correct and, subject to the
entries made against the account for the period. notification exception above, the Bank shall be entitled to rely
(b) The Account Holder will verify the correctness of upon the statement and the Account Holder releases the Bank
each statement of account received (when received) and from all claims that the Account Holder may be competent
the correctness and validity of all cheques, other evidence to bring which relate to the particular statement of account.
or debit entries and/ or vouchers received from the Bank. (h) Is it understood and agreed by the Account Holder
(c) Where an Account Holder has not received a statement that the reconciliation and verification of all statements of
of account whether or not accompanied by any cheques, account, and accompanying cheques, other evidence of debit
other evidence of debit entries and/ or vouchers relating to it entries and/ or vouchers (if any) relating to such statements of
by the end of the cycle established by the Bank for the sending account must be carried out by the Account Holder in a
of statements of account, the Account Holder agrees that he/ anner within the time stipulated in this clause as the
it will arrange for the collection of the statement of account or statements of account shall be conclusive evidence against
a copy of same from the Bank. It is understood and agreed that the Account Holder with respect to such entries or items or
whether or not the Account Holder collects the statement of the closing balance in the statement of account where no
account from the Bank, the statement of account and any notification of errors, omissions, wrongful debits or
accompanying cheques, other evidence of debit entries and/ inaccuracies has been given by the Account Holder as required.
or vouchers shall be deemed to have been received by the
Account Holder by the 5th working day after the cycle 6. Correction of Errors
established by the Bank for the sending of statements of In the event of any error made by the Bank in recording any
account. entry to the Account Holder’s account(s), the Bank shall
(d) Where on the Account Holder’s written instruction, have the right to make the necessary correction and on the
statements of account are to be held by the Bank rather discovery of such error may correct same by reversing or
than sent to the Account Holder, or where the Account adjusting the entry as necessary without notice to the Account
Holder fails to supply the Bank with an address shall Holder and recover the amount due (if any) from the Account
be deemed to have been sent to the Account Holder Holder and the Bank shall not be liable to the Account
on the day after the date of the statement of account. Holder for any loss or damage as a result of the error made.
(e) Where the Bank sends statements of account to the
Account Holder whether by electronic or ordinary mail but 7. Dormant Account
same is returned to the Bank or the bank receives a report Any account of the Customer may be classified as dormant
that such mail has not been delivered on two or more if there are no Customer generated transactions effected
consecutive occasions, the Bank shall be entitled cease sending by the Customer for a continuous period as determined
statements of account to the Account Holder and all future by Bank from time to time. The Bank has the right to debit
statements addressed to the Account Holder shall be treated charges applicable to dormant accounts. Once the account
as being held by the bank on the Account Holder’s instruction. becomes dormant the Bank will have the right, but not
(f) The Account Holder shall notify the Bank in writing the obligation, to suspend all transactions (including inter-
within fifteen (15) days after the day when each statement of branch payments) on the dormant account and suspend or
cancel all cards linked to that account without notice to the (a) The Card is not a credit card and its issuance by the
Customer. The Bank may at its sole discretion determine Bank does not permit the Cardholder to overdraw the Card
whether to honour any cheque drawn on a dormant account. Holder’s account or to otherwise obtain credit from the Bank.
A dormant account may be reactivated, if so permitted by (b) The Card must be signed by the Cardholder immediately
law, subject to such procedures and charges as the Bank on receipt from the Bank and shall be used solely by the
may have for reactivation from time to time. The Bank shall named Cardholder and is subject to the prevailing terms and
be obliged to notify the Customer of its procedures for conditions governing the use of the Card from time to time.
reactivation, charges applicable to dormant accounts and
periods after which accounts may be classified as dormant 2. Access Code or PIN
following a request by the Customer for such information. The use of the Card will be protected by the issuance of a Card
exclusive to the Cardholder who will select a unique Access
C. SAVINGS ACCOUNT Code or PIN which shall enable the safe transfer of funds and
the making of payments from Designated Bank Account(s).
1. Statements The Cardholder is required to memorize the Access Code in
The Account Holder shall be entitled to receive a statement order to prevent or minimize the possible misuse of the Card.
of the account, reflecting deposits, withdrawals, debits, The Cardholder agrees not to allow anyone to gain access to
credits, transfers and balances at such intervals and in such the Designated Account by disclosing the Access Code to such
manner as agreed with the Bank. Statements may be sent person, and agrees to assume responsibility for all transactions
or made available in electronic form or by ordinary mail. initiated through the use of the Card and the Access Code and
to hold the Bank blameless in the event of any unauthorized
2. Withdrawals or Transfer use of the same. Cards will not be issued to corporate
The Bank may require the Account Holder to give three (3) days customers.
written notice of intent to withdraw or transfer funds on deposit.
3. Lost or Stolen Debit Card or Compromised Access
3. Additional Terms and Conditions Code
The Account Holder agrees to be bound by any other terms and The Cardholder must notify the Bank within 24 hours and
conditions contained in any cheque book, certificate of deposit visit the Bank’s nearest branch if: (a) the Card is lost or stolen,
or other instrument issued by the Bank to the Account Holder or the Cardholder suspects it is lost stolen, or someone has
in the course of their relationship with respect to the account. used it other than Cardholder; or (b) the Cardholder’s Access
Code has become known to someone else, or the Cardholder
4. Dormancy suspects that it has become known to someone else.
The account shall be classified as a dormant account by the
Bank after there has been no withdrawal or deposit activity The Cardholder shall not be liable for any transactions resulting
(other than debit of charges or credit of interest earned) from the loss or theft of the Card or compromise of a Access
on the account for two (2) consecutive years. In the event Code that occur after the time the Bank is informed of such
the account is classified as dormant the Account Holder theft, loss or compromise.
can re-activate the account by following the procedures as
prescribed by the Bank’s policies with respect to dormant 4. Cancellation and Supplementary Debit Cards
accounts. Dormant accounts shall continue to attract The Bank may, in its absolute discretion, cancel, refuse,
fees and charges in accordance with the Bank’s schedule renew or replace any Card at any time without the notice
of fees and charges as amended from time to time. to the Cardholder. On the request of the Account Holder
to whom a Card has been issued, the Bank in its absolute
D. DEBIT CARDS discretion may issue a Supplementary Debit Card and permit
the selection of a new unique Access Code, subject to such
1. General terms and conditions as it may impose, for use by any person
The Bank may issue a Card to the Account Holder and such so nominated by the Cardholder on the Designated Bank
other persons as the Account Holder requests to facilitate, Accounts. The Bank may cancel any Card at any time upon
ATM, Point-of-Sale and other electronic banking services request in writing by the Cardholder and in such event the
ad transactions by the Account Holder as allowed by the other Cardholder(s) shall remain liable for all amounts debited
Bank from time to time. The Account Holder and each by them to the Designated Bank Account and/ or any loss or
Cardholder represents and warrants to the Bank that each of damage that may be incurred by the Bank with respect to the
them is an Adult Account Holder and it is agreed as follows: use of the Card and operation of the Designated Bank Account.
 using the Card, by a particular Cardholder, or on particular
5. Responsibility for Debit Card accounts; and (b) other measures for the protection of the
The Cardholder shall be responsible for the safekeeping of Bank, merchants and providers of services, Cardholders and/
the Card and shall use all reasonable precautions to prevent or the Account Holders against wrongful use of the Card.
the loss, theft or destruction of the Card and undertakes
to verbally notify the Bank immediately oft the loss, theft or The Bank’s discretion to introduce such limits and measures shall
destruction of the Card and the circumstances thereof and not include any obligation or requirement so to do, and unless
further to confirm to the Bank in writing such loss, theft or otherwise agreed in writing to the contrary between the Bank
destruction within 24 hours of the event it being understood and the Account Holder, the Bank may permit transactions in
and agreed that the Cardholder shall continue to be liable excess of the limits and outside of the measures introduced,
and shall not be liable to the Account Holder for so doing.
for any transaction on the account accessed by the Card for
a period of forty-eight (48) hours after the Bank has received
9. Verification of transactions by the Bank
written notification of the loss or theft of the Card. All withdrawals, deposits, transfers, payments and other
transactions made by the Cardholder through the use of
6. Debit Card Use and Bank’s Obligations the Bank’s ATM, Point-of-Sale, or any other device as may be
The Cardholder may use the Card to execute such introduced by the Bank, if disputed are subject to verification
transactions as the Bank shall from time to time make available by two of the Bank’s officers whose verification, the Account
to be executed by the Cardholder using the Card. The Bank Holder and Cardholder(s) agree, shall be binding and
shall not be liable for the unavailability at any time of any ATM conclusive evidence of the fact of and actual amount involved
or other service for which the Cards are accepted or used in any such transaction.
regardless of the cause of such unavailability.
10. Account Holder Verification of Statements
The Bank shall not be responsible in any respect whatsoever The Cardholder may be provided with a receipt for each
for the gods or services purchased by the Cardholder using the transaction conducted via an ATM with the Card, and
Card and the Cardholder as a duty to discharge all obligations shall receive a receipt for each transaction conducted
entered into using the Card. By using the Card the Cardholder using the Card via a Point-of-Sale device. These receipts
agrees to be bound by the Terms and Conditions of any Card should be retained for reconciling the transactions on the
related services provided by the Bank. periodic statement of account. The obligation to reconcile
statements of account, and the consequences of failing to
7. Minimum Account Balances do so, shall be as provided in these terms and conditions.
The Account Holder shall be required to maintain minimum a
cash balance in the Designated Bank Account(s) which shall be 11. Disputed Transactions
no less than the amount being withdrawn on any transaction If the Account Holder disputes the amount debited to his/
at all times in addition to any amount required to cover the her account in respect of a transaction with a merchant, the
Bank’s fees and charges, save and except where the Account Cardholder has the obligation to first inform the merchant
Holder has previously established with the Bank credit facilities of the error or dispute to resolve same. If the merchant does
in respect of the particular Designated Bank Account(s). The not correct the error or there is still some dispute, the Bank
Account Holder hereby charges the cash balance to the Bank shall place the disputed amount in an escrow account pending
as security for the repayment of any unauthorized credit resolution of the dispute.
that may be obtained by the Account Holder through an
ATM, Point-of-Sale device or such other device as may be 12. Transaction Fees
introduced by the Bank. The Bank reserves the right to decline The Bank may charge fees in respect of each transaction
any transaction where the Bank’s charges and the sum being approved, declined, or enquires, made at the Bank’s ATM, or
withdrawn exceed the balance available in the Designated at Points-of-Sale where merchants are authorized to accept
the Card.
Bank Account at the time the transaction is executed.
13. Exclusion of Liability
8. Limit on Debit Card Transactions
The Bank shall not be liable for the operational failure of ATMs ,
The Bank is entitled to introduce and thereafter vary
or Points-of-Sale devices or for any loss or damage howsoever
from time to time at its absolute discretion and without
arising whether from criminal activity or otherwise that may
notice: (a) limits on the number and the amount in value of
be suffered by the Account Holder or Cardholder in the
transactions including withdrawals, that may be carried out
use of the ATM or the Point-of-Sale devices or on or near 2. The Bank may Decline Internet Banking Transactions
premises housing same. The Bank shall not be liable for any The Bank reserved the right to decline any instruction or
unauthorized use of the Card or for any loss resulting from transaction given or executed via Moneyline for any reason
circumstances over which the Bank has no direct control in the Bank’s absolute discretion including where the Bank’s
including but not limited to the Cardholder’s failure to input charges and the sum being transferred or paid exceeds
complete and accurate information, failure of electronic or the balance available in the Designated Bank Account at
mechanical equipment or communication lines, telephonic the time the instruction is given or transaction executed.
or other interconnection problem, operator error, log in
sequences, severe weather, earthquakes, flood or other acts of 3. The Bank’s Right to Deny Access
God. In no event will the Bank be liable for damages in excess The Bank may, at any time and in its absolute discretion, refuse
of an Account Holder’s or Cardholder’s actual loss due to the access to its Internet Banking Facilities by any Account Holder in
Cardholder’s failure to complete a transaction and the Bank will the event of a breach of any terms of use, terms and conditions
notbeliableforanyindirect,incidentalorconsequentialdamages. or policies governing the Bank’s Internet Banking Facilities or
where the Bank deems such refusal to be in its best interests.
14. Network Regulations
Transactions conducted on the Multilink® or other networks 4. Transactions
are subject to the rules and regulations of those networks. The The Account Holder shall be responsible for the accuracy
Bank will not be responsible for any delay in refunds or other of electronic transaction instructions, including the payee
inconveniences faced by the Account Holder or Cardholder information, payee account information, billing company
arising from the rules, regulations or operations of those paid, billing account number and payment amount. The
networks. Account Holder acknowledges that electronic payment
instructions once sent may be final and irrevocable, so
E. INTERNET BANKING that it may not be possible to retrieve funds sent in error.
It is the Account Holder’s responsibility:
The Bank may, on the application of an Account Holder, (a) To ensure that electronic payment instructions and the
allow an Account Holder to conduct banking business by Account Holder’s personal information registered on Internet
using the Bank’s Internet Banking Facilities. Account Holders Banking are accurate at all times. For bill payments, the Bank
wishing to use the Bank’s Internet Banking Facilities must can update the Account Holder’s bill profile, including the
comply with any terms of use, terms and conditions or account Holder’s billing account numbers and the biller’s
policies applicable to the Bank’s Internet Banking Facilities. names if informed of a change by the biller or if deemed
By using the Bank’s Internet Banking Facilities, the Account necessary by the Bank, the Account Holder’s confirmation
Holder agrees to be bound by the aforementioned is required if any such changes are made by the Bank;
terms of use, terms and conditions and policies.
(b) To ensure that sufficient funds are available in
the Account Holder’s account (or through overdraft
1. Use of Internet Banking
protection linked to such account) as at the effective
The Account Holder will be provided with Internet Banking
time of an electronic transaction, payment instructions
Credentials which, subject to the availability of the Internet
Banking Facilities, the Account Holder may use to give such will not be processed without sufficient funds;
instructions and execute by the Account Holder using (c) To know the payment requirements of each payee.
the Internet Banking Facilities. However, the Bank shall not The Account Holder acknowledges that individual payees
be liable for the unavailability at any time of the Internet have varying payment requirements and that the Bank
Banking Facilities regardless of the cause of such unavailability. may reject, cancel or return a payment that does not
meet the particular payment requirements of a payee;
The Account Holder shall not use the Internet Banking (d) To ensure that payments are requested so that there
Facilities for any illegal fraudulent or defamatory purposes or is sufficient time prior to their due date for them to be
take any steps which could undermine the security or integrity processed by the Bank and the payee. Payment instructions
of the Bank’s Internet Banking Facilities or cause harm to made by the Account Holder on a non-business day or
or threaten to harm any other user of the Internet Banking after the Bank’s daily cut-off time as advised from time
Facilities. For our mutual protection, the Bank reserves the to time, will require additional time to reach the payee;
right to record all activities using the Internet Banking Facilities. (e) To promptly and carefully examine transaction
information to ensure electronic payments have been
successfully and correctly processed an o notify the Bank
within 30 days of the electronic payment date of any errors and the Bank will not be liable for any indirect, incidental or
or discrepancies. The Account Holder acknowledges that consequential damages.
if notice of errors is not received within the aforementioned The Account Holder is responsible for maintaining the
30-day period, the Account Holder shall be deemed to confidentiality of the Account Holder’s Internet Banking
accept the transaction information as valid and correct. credentials and accepts responsibility for all instructions,
transactions and activities that are given, occur or are performed
5. Limits on Internet Banking Transactions using the Account Holder’s Internet Banking Credentials.
The Bank is entitled to introduce and thereafter vary from
time to time at its absolute discretion and without notice: 8. The Account Holder’s Right to Cancel Internet Banking
(a) Limits on the number and the amount in value of Arrangements
transactions including transfers and payments, that may be Without prejudice to any agreement to the contrary between
the Account Holder and the Bank, the Account Holder may
carried out within any given period of time using Moneyline
cancel the Internet Banking Facilities by notifying the Bank of
by a particular Account Holder, or on particular accounts; and
such cancellation.
(b) Other measures for the protection of the Bank,
Account Holders and third parties against wrongful use of F. REQUESTS FOR ELECTRONIC FUNDS TRANSFERS
Moneyline the Internet Banking Facilities.
The Bank may accept instructions from Account Holders for
The Bank’s discretion to introduce such limits and measures shall the electronic transfer of funds by wire transfer or otherwise.
not include any obligation or requirement so to do, and unless In the event that a funds transfer is not completed for any
otherwise agreed in writing to the contrary between the Bank reason whatsoever, the Bank shall not be required to make any
and the Account Holder, the Bank may permit transactions in refund until it has received advice of cancellation from its agent
excess of the limits and outside of the measures introduced, or correspondent together with the transferred funds, freely
and shall not be liable to the Account Holder for doing so. available. In case of a refund, all expenses and losses occasioned
by the transfer or attempted transfer and the refund shall be
6. Verification of Internet Banking Transactions by the borne by the Account Holder who assumes as well, all risks
Bank of exchange rate fluctuations. The Bank is obliged to effect
All internet banking transactions including transfers and funds transfers on the Account Holder’s behalf in accordance
payments made by the Account Holder through the use of with the laws and terms and conditions of the correspondent
the Bank’s Internet Banking Facilities are subject to verification bank and the paying bank respectively. The Account Holder
by two of the Bank’s officers whose verification, the Account authorizes the Bank to provide such information that it
Holder agrees shall be binding and conclusive evidence of the may have on record regarding the Account Holder, to any
fact of and actual amount involved and other details of any corresponding bank and the paying bank, and agrees that
such transaction. the Bank shall not be liable for any loss direct or indirect,
whether the Account Holder has been notified of such loss or
7. Exclusion of Liability Internet Banking otherwise, including expenses suffered by the Account
The Bank shall not be liable for any failure of Moneyline or Holder, as a result of the failure or inability of the Bank to
for any loss or damage howsoever arising whether from provide current information, or as a result of failure or inability
criminal activity or otherwise that may be suffered by the of the Bank to provide current information, or to provide
Account Holder in the use of Moneyline. The Bank shall not same on a timely basis. The Account Holder also agrees to
be liable for any unauthorized use of the Account Holder’s hold the Bank blameless and indemnify the Bank against
Internet Banking Credentials or for any loss resulting from any and all costs, or expenses incurred in relation to any
circumstances over which the Bank has no direct control electronic funds transfer requested by the Account Holder.
including but not limited to the Account Holder’s failure
to input complete and accurate information when using G. STANDING ORDERS
Moneyline , failure of electronic or mechanical equipment
or communication lines, telephonic or other interconnection 1. Acceptance of Instructions and Non-Payment for Lack
problem, log in sequences, severe weather, earthquakes, flood of Funds
or other acts of God. In no event will the Bank be liable for The Bank may accept and execute Standing Order
damages in excess of an Account Holder’s actual loss due Instructions from Account Holders from time to time,
to the Account Holder’s failure to complete a transaction notwithstanding that doing so may result in an overdraft
on the Account Holder’s account(s). The Bank is under no legal costs, on a full indemnity basis, arising from the Bank’s
obligation to execute Standing Order Instructions if: (a) the
acceptance of and action taken on account of the Account
Account Holder’s accounts do not have sufficient funds on
the day that the Standing Order Instruction is to be executed; Holders Standing Order Instructions.
or (b) to effect overdue payments even when funds are
subsequently deposited in the Account Holder’s account H. MISCELLANEOUS
after the date for execution of a Standing Order Instruction.
The Bank shall be under no obligation to process any further 1. Death or Incapacitation of Account Holder
Standing Order Instructions if there are three consecutive Death or incapacity of the Account Holder will not
occasions on which there are insufficient funds in the Account revoke any order to withdraw or transfer funds from the
Holder’s account(s) to process the payment(s) on the due date. account until the Bank has actual knowledge of the fact
of death or of an adjudication of incapacity by receipt of an
2. Fees and Notices of Payment appropriate order of a court of law and has had a reasonable
The Bank shall be entitled to charge its usual fees for opportunity to verify same and act on such knowledge.
Standing Order Instructions in accordance with its schedule
of fees from time to time, additional charges shall be 2. Fax, E-Mail and Verbal Indemnity
payable for failed Standing Order Instructions. Account The Bank is authorized and requested to honour and
Holders will not receive any notice of any payment made comply with all instructions regarding fax, e-mail, and verbal
in accordance with each Standing Order Instruction. indemnity, provided that such indemnity is duly signed by
the Account Holder in the form acceptable by the Bank.
3. Currency Conversions
The Bank shall be entitled to effect cross currency conversion 3. Change of Account Holder’s Particulars
for Standing Order Instructions at the Bank’s own rate of The Account Holder shall immediately inform the Bank in
exchange, subject to the availability of funds, for remittances in writing of any change in his personal particulars, address,
foreign currencies by demand draft, electronic funds transfer, telephone, facsimile number, or e-mail address. The Bank will
account transfer or manager’s cheque. send all mail to the Account Holder at the last address on
record for each account.
4. Effectiveness, Revocation and Alteration
Standing Order Instruction shall remain in effect until 4. Amendment
revoked by notice in writing signed by the Account Holder These Terms and Conditions may be amended or
and/ or any joint Account Holder(s), and delivered to supplemented in such manner and to such extent as the Bank
the Bank. Any alteration or cancellation of a Standing may from time to time in its absolute discretion deem fit.
Order Instruction must reach the Bank at least five (5) Notice of such amendment shall be deemed duly and
business Days before the due date of the next payment. effectively given to the Account Holder by any of the following
means including but not limited to the posting of such notice
5. Payments Due on the Weekends or Holidays in the offices of the Bank, by electronic mail, on the banks
Where a payment date falls on a Saturday, Sunday or Public website or by inclusion on any statement or advice sent to
Holiday, payment will be made by the Bank on the next the Account Holder by ordinary mail or electronic mail. Any
Business Day. amendments to the terms and conditions made by the Bank
shall take effect and be binding on the Customer immediately
6. Exclusion of Liability of the Bank
The Bank shall not be liable: (a) for losses incurred by the upon the Bank giving the notice required hereunder
Account Holder or third parties if a payment is not made due regardless of whether such notice is actually received by
to insufficient funds in the Account Holder’s account(s); or the Account Holder, unless otherwise stated by the Bank.
(b) for any claims arising between the Account Holder(s) and
the beneficiary or intended beneficiary of such payments. 5. Electronic Transactions
The Account holder hereby absolves the Bank of any liability Account Holders wishing to operate accounts electronically
shall comply with the additional terms and conditions applicable
whatsoever, in respect of any error or omission in any Standing
to any electronic financial services offered by the Bank.
Order Instructions (other than errors and omissions caused
by the Bank’s gross negligence), and agrees to indemnify the 6. Waiver
Bank from and against all claims, demands, losses, actions, Unless consented to by the Bank in writing, no waiver or
proceedings, damages, charges and expenses, including modification of any of these Terms and Conditions will be
effective. No failure by the Bank to exercise, nor any delay by the Account Holder; (b) to comply with a lawful request for
the Bank in exercising any rights or remedy, shall operate as disclosure of information; and (c) to update the Bank’s records
a waiver of any of these Terms and Conditions, nor shall any at such intervals as the law requires, and the Account Holder
single or partial exercise of any right or remedy prevent any agrees to promptly supply such information and documents
further or other exercise thereof or the exercise of any right or as the Bank may require. In the event any information and
remedy. The rights or remedies herein provided are cumulative documents requested by the Bank are not provided by the
and not exclusive of any rights or remedies provided by law. Account Holder, the Bank shall be entitled to terminate all
outstanding transactions and close the Account Holder’s
7. Sharing Information Account(s) in accordance with these Terms and Conditions.
The Bank is authorized, where the Bank considers it
appropriate to do so, but is not required, to share and disclose 9. Account Features and Brochures
information to third parties about the Account Holder and At the time of opening each account, the Bank may supply
the Account Holder’s Account in the following circumstances: the Customer with a brochure detailing further conditions
(a)to verify the existence and condition of the account for a and features applicable to that account. Those conditions and
Merchant with whom the Account Holder is conducting a features shall form a part of the conditions on which that
transaction using the Account Holder’s Debit Card; (b) to account is held with the Bank, and shall be subject to change
comply with a request for such disclosure by another bank, by the Bank from time to time in the manner in which these
financial institution, credit agency or credit bureau; (c) to Terms and Conditions may be varied as provided in Clause H3.
facilitate an investigation of or prosecution for fraud, money
laundering or offences associated with terrorism or terrorist 10. Ownership of funds
financing; (d) to comply with any disclosure requirements Unless the Bank is otherwise instructed in writing, the Account
imposed by law; (e) where the disclosure is to an Affiliated Holder(s) acknowledge that they are the only person(s)
Company. Any information so shared by the Bank, shall be entitled to the funds in their account(s), that such funds
subject to the same standards with respect to confidentiality being to the Account Holder(s) and do not belong to any
as the Bank is subject to and the Bank hereby undertakes to other person and that no other person has any legal or
require and ensure that Affiliated Companies observe and beneficial interest in them.
are bound by the same rules of confidentiality as the Bank; (f)
to facilitate the carrying out of transactions on the Account 11. Amalgamation and Succession
Holder’s account(s) and the provision of services (including, These Terms and Conditions shall continue to bind the
but not being limited to, mailing of documents, and the Account Holder notwithstanding any amalgamation or
operation of Account Holder call centres) in respect of the re-structuring that may be effected by the Bank with any
Account Holder and his/her/its account(s) by persons who other company or person or any transfer of the Bank’s
may from time to time be contracted by the Bank to do so business or any part thereof of any change in its constitution
and who may not be officers or agents of the Bank; (g) to the and shall inure for the benefit of any new company or
Account Holder’s personal representatives or any person corporation so formed and for the time being carrying
applying for a grant representation in the estate of the on the Bank’s business or any part thereof as successor
Account Holder upon production of satisfactory proof of to the Bank whether such new company or corporation
death; (h) with third party service providers, credit bureaus and shall or shall not differ in its name objects character and
Regulators in and outside of the jurisdictions in which JMMB constitution from the Bank, it is being the intent that these
Bank (Jamaica) Limited does business; (i) where the Bank Terms and Conditions remain valid and effectual in all
considers it necessary or appropriate to do so; or (j) in any respects and for all purposes in favour of and with reference
other circumstances, if the Account Holder (or any of to any such new company or corporation or other of the
them, if more than one) gives the Bank written permission. Bank’s successors or assigns as well as the Bank and may
be proceeded on and enforced in the same manner for all
8. Money Laundering intents and purposes as if such new company or corporation
The Account Holder shall assist the Bank in the discharge or other of the Bank’s successors or assigns had been
of its obligations to combat money laundering and the expressly named and referred to herein instead of the Bank.
financing of terrorism by providing such information and
documents as may be requested by the Bank from time to 12. Severability
time. Without prejudice to the generality of the foregoing, It is understood and agreed by the Account Holder that the
the Bank shall be entitled to request information: (a) on provisions of these Terms and Conditions shall be severable
specific transactions being conducted by or on behalf of and in the event that for any reason whatsoever any of the
provisions or portions thereof are found by a Court to be invalid,
void or otherwise unenforceable the remaining provisions
of these Terms and Conditions shall nevertheless remain
valid and enforceable to the fullest extent permitted by law.

13. Governing Law

The provisions of this agreement shall be governed by the Laws
of Jamaica and the Account Holder hereby waives any defence
of inconvenient forum or such other defence in opposition
to Jamaican Courts which shall have jurisdiction to hear and
determine disputes in respect of these Terms and Conditions.