Party A: Customer of Mobile Banking Service
Party B: Bank of China Limited
To explicit the rights and obligations of both parties and regulate behaviors, Party A and Party B concluded an agreement on Mobile Banking Service provided by Bank of China Limited as follows:
Article 1 The following terms shall bear the meaning as provided below:
“Mobile Banking Service”: means the financial service provided by Bank of China Limited based on the network provided by mobile telecom carriers (currently including China Mobile Communications Corporation (China Mobile), China United Network Communications Corporation Limited (China Unicom), and China Telecommunications Corporation (China Telecom)) with the Client’s mobile phones as terminals.
“One time password (OTP)”: also called the dynamic password, is random password generated by E-token based on the personal identity information of Party A together with random factors at the time of logging and therefore the password to be used by Party A each time changes randomly and cannot be predicted.
“Mobile Banking Instructions” means the requests sent by Party A through mobile banking service to Party B to make enquiry, transfer, investment, wealth management, bill payment and payment transactions with the registered bank card/account number, mobile phone number, OTP, and appropriate password.
Article 2 Rights and Obligations of Party A
1. Party A subscribes the mobile banking service on a voluntary basis and submits fully to the E-banking Regulations of Bank of China Limited (the “Regulations”) and to the business procedures and rules of Party B, and is entitled to relevant mobile banking services according to the services subscribed subject to the approval of Party B.
2. Party A may dial Party B's customer service number(s), log onto the website of Party B or visit the business outlets of Party B for consultation and/or complaint in the case of question, suggestion or complaint.
3. Party A may unsubscribe the personal mobile banking service within the subscription term.
4. Party A shall warrant that any and all information submitted for subscribing the mobile banking service is true, accurate and complete and shall be liable for the risks and losses due to Party A’s failure to submit true, accurate and complete information and/or to inform Party B of any material change in any such information so provided on a timely basis.
5. Party A fully understands that the mobile banking service provided by Party B is a financial service based on mobile phone and there are risks of interruption, pausing, delay, erroneous data or time difference in transmission of data through the mobile phones used by Party A when using the mobile banking service and that Party B shall bear no liabilities for damage due to erroneous message and/or failure to deliver the information on a timely basis as a result of the fault of the communication devices which is beyond the control of Party B. Party A shall complete the relevant transaction by any other means of his/her own accord if the mobile banking service is not available, cancelled, suspended or terminated due to the aforesaid reasons.
6. Party A shall, when using the mobile banking service, log onto Party B’s mobile banking WAP site (http://mbs.boc.cn) directly and shall not redirect from any email and/or any other links than those provided by Party B.
7. Party A shall, when using the mobile banking service, use the licensed WAP navigator installed on the mobile phone at the time of purchase and shall not use unlicensed WAP navigator(s) to visit the mobile banking site.
8. The mobile banking service so being subscribed shall be bundled with the mobile phone number of Party A. Party A shall keep safe the mobile phone number, password, bank card number, book account number, and the OTP and shall be responsible for the mobile banking transactions completed with the aforesaid information. Party A shall not modify or revoke any mobile banking instruction once confirmed.
9. Party A shall, when using the mobile banking service provided by Party B, ensure that the log-in password, preset information and mobile phone configuration shall conform to the usage rules and safety instructions prescribed in Party B’s mobile banking service Rules and ensure the security and confidentiality of the password and authentication tools used by him/herself and also modify the log-in password periodically and/or from time to time. If Party A also subscribes to the online-banking service provided by Party B, Party A information, account information and authentication tools will be shared by the On-line Banking Service and mobile banking service, which means that the information updated in either channel will be synchronously updated in the other.
10. Party A shall use the mobile banking service within the service period specified by Party B. The transaction information made by Party A shall be based on the information recorded in the computer systems of Party B and the Parties agree that the information recorded in the computer systems of Party B is true, accurate and legitimate.
11. Party A shall agree to, when using the mobile banking service for investment and wealth management transactions such as foreign exchange transactions and third-party depositary service, the relevant agreements including but not limited to the investment service agreement signed via mobile banking service Party A adequately acknowledges the risks of investment businesses and shall be liable for the consequences of investment transactions made by him/herself via mobile banking service.
Article 3 Rights and Obligations of Party B
1. Party B is entitled to update and/or reconstruct the mobile banking service system. Party B will, in the case of cancellation and/or suspension of service(s), and/or changes in client account number, scope, content and means of service due to updating and/or reconstruction of the mobile banking service system, make public announcement as appropriate in advance without prior notice to each individual client.
2. Party B may, through public announcement, modify the terms of this Agreement, the Regulations, relevant business procedures and rules without prior notice to each individual client, and Party A shall, if he/she does not agree to the modification, unsubscribe the mobile banking service provided by Party B within reasonable period of time as specified in the said public announcement and shall be deemed to agree to the modifications if Party A continues to use the mobile banking service provided by Party B after the effective date of the announcement.
3. Party B is entitled to specify and/or change the ordinary service time available for mobile banking service and the deadline on each day for specific service/transactions and the mobile banking instructions received after the deadline of each day shall be deemed as received by Party B on the next business day. The deadline on each day for account opening and subscription to mobile banking service in the People’s Republic of China (excluding Hong Kong, Macau, and Taiwan) shall be based on the Beijing Time. Party B will, in the case of adjustment in the aforesaid service time and/or deadline time, make public announcement as appropriate without prior notice to each individual client.
4. Party B is entitled to specify and/or adjust the ceiling amount for each transaction and/or the aggregate ceiling amount for transactions in one day made through mobile banking service.
5. Party B is entitled to, for the purpose of preventing fraudulent transactions through mobile banking service and/or upon requirement by external regulatory authorities of jurisdiction, monitor the operations and/or transactions made by Party A through mobile banking service.
6. Party B is entitled to, in the case of Party A’s breach of this Agreement or the Regulations and/or the relevant business procedures and rules of Party B, terminate the mobile banking service subscribed by Party A at the sole discretion of Party B, and reserve the right to make other claims to Party A.
7. Party B is liable to, in the case of losses incurred by Party A due to delay in settlement and payment as result of Party B's fault, indemnify Party A in accordance with the Measures on Payment and Settlement enacted by the People’s Bank of China (PBOC). Party B will bear no liabilities for the failure to execute the mobile banking instructions submitted by Party A correctly due to any of the following reasons:
1) The account of Party A does not have sufficient balance or credit limit;
2) The fund in the account of Party A has been frozen and/or debited by any authority of statutory jurisdiction;
3) The action of Party A is for malicious purposes including but not limited to fraudulent actions;
4) The instruction sent by Party A lacks necessary transaction information;
5) Party A fails to operate correctly in accordance with the mobile banking service rules and/or service guidance;
6) The mobile phone breaks down and/or the communication network of mobile telecom carrier fails;
7) Force majeure and/or other reasons not attributable to Party B.
8. Party B shall ensure the security of mobile banking system facilities and equipments and the security control facilities and equipments and shall make appropriate safeguarding to the important facilities and equipments and data of mobile banking service. Subject to the aforesaid reasonable obligations of Party B, Party B shall not bear any economic and/or legal liabilities for losses incurred by Party A due to equipment fault, communications line fault, interruption of power supply, power failure, virus and/or factors not predictable and not controllable due to accidental reasons in transactions and/or due to force majeure.
9. Party B shall maintain the confidentiality of the subscription data and account information of Party A unless
1) Otherwise agreed to and/or authorized by Party A; or
2) Otherwise provided by applicable national laws and regulations or upon demand by judicial and/or administrative authorities of jurisdiction; or
3) For the purpose of public interest.
10. Party B may, to facilitate the mobile banking transactions made by Party A, provide some financial information acquired from the third party to Party A via the website of Party B and/or the mobile banking system without warranty and liability for truth, accuracy and/or completeness of any information obtained from any third party.
11. Party B is entitled to change the log-on address for mobile banking service provided by Party B by prior public announcement as appropriate without notice to each individual client.
Article 4 Charges
Party B may make, adjust and/or modify the charging standards, method and/or periods for mobile banking service and Party A shall pay any and all service fees, fees of identity authentication tools, and transfer fees in accordance with the aforesaid charging standards. Party B will, in the case of adjustment in the aforesaid charging standards, method and/or periods, make public announcement as appropriate without prior notice to each individual client. The adjustment and/or modification shall come into force 10 business days after announcement by Party B and Party A shall, if he/she does not agree to such adjustment and/or modification, unsubscribe the mobile banking service provided by Party B within the period of time as specified in the said public announcement and otherwise, shall be deemed to agree to the adjustment and/or modification.
Article 5 Errors
Party A shall, if he/she believes that his/her mobile banking instruction is erroneous, within three business days notify Party B in writing and shall specify the possible causes, relevant account numbers and transaction amount. Party B shall inform Party A of the investigation result within three business days upon receiving the notice of Party A. Party B shall, if it believes the transaction is not erroneous, notify Party A in writing and make appropriate explanation within three business days after investigation. Party B shall, if it believes the transaction is not erroneous due to the fault of Party B, notify Party A in writing and make appropriate corrections within three business days after notifying Party A of investigation.
Article 6 Dispute Resolution
Any and all disputes arising during the performance hereof shall be subject to amicable negotiation between the Parties. Either Party may make litigation to the people’s court of the place where Party B is located if the Parties fail to reach agreement through negotiation.
Article 7 Governing Law
The establishment, effect, performance and construction of this Agreement shall be governed by the law of People’s Republic of China and may be subject to generally accepted financial practices if there are no specified provisions by law.
This Agreement supplements but not supersedes any other existing agreements and/or covenants with Party B and in the case of discrepancy between this Agreement and any other existing agreements and/or covenants, this Agreement shall prevail in terms of personal mobile banking service.
Article 8 Suspension and Termination
The availability of mobile banking service provided by Party B is subject to the bank card/account status of Party A used for mobile banking service and the mobile banking service will be automatically suspended if the card/account is not available due to being reported lost and/or being terminated for payment. The mobile banking service will be available upon restoration of the card/account to normal status.
This Agreement shall be terminated upon Party A’s completion of cancel of the mobile banking service. The Bank may, if Party A breaches this Agreement and/or any other business rules of Party B, suspend and/or terminate this Agreement. Termination hereof shall not construed as the cancellation of the uncompleted transaction instructions made before termination and shall not eliminate any legal consequences due to transactions made prior to termination.
Article 9 Effect and Validity
This Agreement shall come into force upon seals by both Parties and completion of the subscription by Party A in Party B’s mobile banking system. Any provision hereof which is determined void due to legal reasons after this Agreement comes into force, shall not affect the effect of other provisions hereof.
This Agreement shall remain valid for a period of one year. This Agreement shall automatically extend for another year if neither Party notifies the other Party to terminate this Agreement 30 days prior to the expiration of the said one year period. The validity of this Agreement may be extended for unlimited times.