BPRXen Tabungan Milenial
Terms and Conditions

1. About these Terms and Conditions (“T&C”)

1. These T&C apply when you use any Digital Services provided by the Bank (as defined below) and affiliates ("we", "us", “our” "ours" and “affiliate”) in connection with the use of Nex mobile application (“Nex”). By using Nex, you are deemed to have read, understood and accepted all of the terms and conditions set out herein, as may be amended, modified or supplemented from time to time. 

2. When we refer to “this T&C”, “the T&C” or “your T&C”, we mean our BPRXen Terms and Conditions.

3. Nothing in this T&C will supersede or vary any term set out in other terms and conditions governing our relationship with you.

4. By “User”, “Customer”,  “you", "your" or “yours”, we mean the individual user/customer registered with the Bank.

 

2. Definition

1. The Nex App is an electronic financial service jointly provided by PT Nex Teknologi Digital (“PT NTD”) and the Bank which allows users to use banking services through their cellular phones.

2. The Bank is PT Bank Perkreditan Rakyat Xen (previously registered as PT BPR Arthakelola Cahayatama), its head office in Depok, and includes its branch offices and successors and assignees (if any).

3. BI is Bank Indonesia.

4. OJK is the Financial Services Authority of Indonesia.

5. CIF is Customer Information File, information that contains complete data about the Customer.

6. Login is a User authorization process to enter the Nex App.

7. Customer is an individual owner of an Account at the Bank.

8. One-Time Password (OTP) is a randomly generated code sent via Short Message Service (“SMS”) to the Customer's cellular phone and / or electronic mail / email registered with the Bank.

9. User is a Customer who has registered to use the Nex App according to the registration process set by the Bank and has been approved by the Bank to be able to use the Nex App.

10. Partner means a company in Indonesia or elsewhere which from time to time participates or is involved either directly or indirectly in providing mobile banking services.

11. Accounts are all savings accounts of an individual in the Bank under the same CIF, including a main account (“Savings Account”) and spending account(s) whether interest bearing sub-account(s) (“Envelope(s)”) or non-interest bearing (“Spending Account”) (Envelope(s) and Spending Account are collectively referred to as “Sub-Accounts”).

12. Account Opening is the process of creating a new Savings Account for a prospective Customer.

13. Transaction is any type of access and / or transaction which is currently or in the future determined by the Bank to be carried out using the Nex App, including but not limited to:

    1. financial access / transactions related to funds contained in the Account, including but not limited to fund transfers and other financial transactions related to the Account

    2. non-financial access / transactions, including but not limited to balance information, savings account information, and other information; change of Username and Password for the Nex App, and / or other transactions that have been and / or will be determined by the Bank to be made through the Nex App.

14. Transfer is a transaction of transferring funds from an Account to another User's account, or another account belonging to a user or other party.

15. Username is the personal identification key used to login to the Nex App.

16. Password is a personal identification key used to login to the Nex App and authorize transactions.

17. Biometric Verification is a method of verifying a person's identity through fingerprints using certain tools.

18. Working Days are any days determined by Bank Indonesia ("BI"), during which banks throughout Indonesia can conduct their business activities including but not limited to clearing services and are not required to close by BI.

 

3. Account Opening and Registration for the Nex App

 

The following is the process of opening an account for a prospective new customer through the Nex App:

1. To be able to open a Savings Account and use the Nex App, a potential customer can submit an application for an Account Opening via a mobile phone or other registration application media as subsequently stipulated by the Bank and/or PT NTD.

2. Before conducting an Account Opening and registering for the Nex App, the prospective Customer must first read, understand and agree to all the terms and conditions set out by the Bank regarding Account Opening, BPRXen Fees, Rates and Limits and registration of Nex App which is available in the Nex App or other media as determined by the Bank.

3. The process for Account Opening and registration for the Nex App:

   • Account Opening can be done by: Do-it-yourself by a prospective customer. Prospective customers need to download and install the Nex App, then open an Account and register via the Nex App.

   • Prospective Customers must:

     • be Indonesian citizens,

     • have their own e-KTP, which is valid and issued by the Department of Population and Civil Registration, and is not owned by another person,

     • have a valid Indonesian cellular phone number and email address,

     • have a correspondence address in Indonesia,

     • provide other supporting documents requested by the Bank from time to time as referred to in the OJK Regulation concerning the Implementation of the Anti-Money Laundering and Counter-Terrorism Funding Program in the Financial Services Sector along with other related regulations (as updated from time to time).

   • The process that must be followed by a prospective Customer at the time of Account Opening and registering for the Nex App:

     • enter personal information according to the KTP, enter the cellular phone number of the Indonesian operator, and enter an active email address, 

     • enter the OTP received via SMS, which is sent by the Nex App System, to the prospective User's mobile phone number that has been previously entered,

     • create a Password for the Nex App,

     • answer questions raised by the Nex App, including employment data, account funding sources, estimated income, and other information as determined by the Bank,

     • enter NPWP data,

     • agree to the Terms and Conditions of the Nex App,

     • carry out the Biometric Verification process 

   • After the Account Opening and registration for the Nex App is successful, the Customer will receive a notification that he / she has been registered as the Account Owner and User of the Nex App.

4. The prospective User agrees that by clicking the “Submit Application” button, the prospective User has agreed to all the Terms and Conditions for the Nex App, as well as the BPRXen Fees, Rates and Limits and that this approval is valid evidence, legally binds the prospective User and comprises a valid and legally enforceable agreement between the Bank and prospective User, and that the electronic agreement is the equivalent of written evidence or as if the User had actually signed the Terms and Conditions of the Nex App.

5. The Bank has the right to terminate and / or reject the registration process for Account Opening and the Nex App for any reason, including but not limited to if:

   • The user profile is not included in the Bank's Risk Acceptance Criteria,

   • The user does not own the documents (e-KTP / NPWP) given to the Bank, and / or

   • the information in the e-KTP and NPWP submitted by the user does not match.

6. Users can only register 1 (one) mobile phone number to be used in the Nex App and to receive notification of a transaction.

7. Users of the Nex App can change their PIN. If the PIN is lost or cannot be remembered, the user can reset the password by contacting Nex Customer Support.

8. The user gives approval and power to the Bank to inform the User's CIF number to the Directorate General of Population and Civil Registration, Ministry of Home Affairs, Republic of Indonesia.

9. The user states that all information provided to the Bank is true, complete and accurate. If there is a change in the information, the User will inform the change to the Bank no later than 30 (thirty) calendar days after the change takes effect. The user is willing to submit all information, documents, and related evidence required by the Bank in connection with these changes through the Nex App or other such means as determined by the Bank.

10. Users are required to provide documents and / or answer other questions as an EDD (Enhanced Due Diligence) process, if required by the Bank.

11. Account Opening becomes effective only if the entire process has been approved by the Bank.

12. After the Account Opening is successful, the Customer may submit a request to the Bank to open Sub-Account(s) through the Nex App. The Customer acknowledges and accepts that the Bank has the right to approve, reject, or require additional information/documents before approving or rejecting a request to open an Envelope.

 

4. Transactions through the Nex App

1. Users can make transactions in the manner described in the Nex App or as specified by the Bank. Every time a user logs in to the Nex App on a mobile phone, the User will be asked to enter a Password. For each transaction:

   • Users are required to fill in all data and information required for the implementation of the Transaction and ensure that all data and information have been filled in correctly and completely.

   • Furthermore, the Nex App System will;

     1. ask the User to confirm the data and information entered, and

     2. prompt the User to enter a Password. The Password functions as a security device and a sign that the Transaction cannot be canceled. The Nex App System will send a notification to the User, which indicates that the Transaction has been successfully executed.

2. For every financial transaction and transaction related to changes in User data, the User will be notified that the Transaction has been successfully carried out. 

3. The Nex App System will not carry out the Transaction if there is sufficient reason not to do so, as determined in the sole discretion of the Bank.

4. Each type of Transaction made using the Nex App is subject to the operational and other relevant provisions that apply at the Bank, including but not limited to provisions related to limit restrictions for financial transactions which refer to the applicable limits set by the Bank. Information regarding operational and related provisions as referred to in this Clause can be obtained by Users on the Nex App.

 

5. Closing or Cancellation of Savings Account and/or Sub-Account(s)

1. Based on the provisions set out in point 2 below, the Bank may close the User's Savings Account and/or Sub-Account(s), without the user's consent. The Bank will send notification no later than 7 (seven) Business Days prior to the closure of the Savings Account and/or Sub-Account(s), except in cases where the account is closed in compliance with applicable regulations which must be implemented immediately. For the balance contained in the Savings Account and/or Sub-Account(s), the User can make a withdrawal from the Account during the notice period. In the event that the User does not withdraw the balance of the closed Savings Account and/or Sub-Account(s) during the notice period, or in the event that the Bank must close an account in compliance with applicable regulations, the Bank will place the balance in an escrow account or other accounts designated by the Bank (including but not limited to placing the balance in the Savings Account, in the event of a closing of Sub-Account(s) until the User withdraw such fund at the Bank’s office or branch office. The bank will not pay interest on the balance in the account to be closed. The Bank may, without prejudice to other rights it has, pay for all or any part of such balance: (a) to the User by such mode as it may decide (including by way of cashier’s order, or funds transfer to any of the User’s banking account(s) with the Bank); or (b) to the User’s executor(s) or administrator(s) in the event of the User’s death, and shall not be obligated to enquire about the beneficial rights to such funds. 

2. Without excluding the general provisions of these T&C, the User agrees that the Bank can close the Savings Account and/or Sub-Account(s) at any time in the following cases: (1) if the User's Savings Account and/or Sub-Account(s) becomes inactive for 12 (twelve) consecutive months; (2) if the User commits a violation based on the provisions of the applicable laws and regulations; (3) in the context of implementing the prudential principles of the Bank in relation to User data and information; (4) the requirements requested by the Bank are not fulfilled; (5) the provisions in the Terms and Conditions of the Nex App and / or other Bank provisions are not fulfilled with notification to the User (5) officially ordered and in writing by the competent authority, including the Indonesian National Police, the Financial Services Authority, Bank Indonesia and the Financial Transaction Reports and Analysis Center (PPATK) and a competent court.

3. The User agrees that the Bank can return the funds that the User / other party has entered into the User's Account in the Bank, along with interest, if any, after opening the Account in the event of a cancellation of the account opening process based on the consideration and decision of the Bank with prior notification.

4. The User may make a request to the Bank to close or cancel the User's Savings Account and/or Sub-Account(s) for any reason.

5. In the event that the User's Savings Account and/or Sub-Account(s) is closed:

   • The user agrees that all benefits previously obtained relating to the Savings Account  and/or Sub-Account(s) will expire.

   • The user agrees to pay any fees or fees owed to the Bank as stipulated in any media applicable to the Bank and as determined by the Bank from time to time.

   • The User agrees that the Bank will send the remaining funds available in the  Account and/or Sub-Account(s) to the account designated by the User.

   • These T&C will remain in effect until all User obligations have been fulfilled in their entirety.

6. The bank, in its own judgment or consideration, may cancel the opening of the  Account and/or Sub-Account(s) submitted by the User or close the  Account and/or Sub-Account(s) without approval with notification unless otherwise stipulated by the applicable laws and regulations.

 

6. User's Death, Bankruptcy and Unknown User's Whereabouts

1. In the event the User passes away, the Bank has the right to:

   • withhold any credit balance in the Account without reducing the Bank's right to the aforementioned balance arising from any guarantees, fees, pledge, debt encounter, other claims or actual or indirect counterclaims, or other costs for any actions that the Bank deems necessary to be taken for any demands from other parties,

   • close the User's Account with prior notification of no later than 7 (seven) Business Days prior to closing to the User’s executor(s) or administrator(s), without any obligation to enquire about the beneficial rights to such funds

   • without prejudice to any of its other rights, ask for a letter of inheritance right or an official letter including but not limited to a statement from a notary as stipulated in the Bank's internal regulations. The transfer of assets owned by the User to his heirs or representatives or to the executor of the assets that frees the Bank from any obligations, is stated in these T&C.

2. In the event where the User whereabout cannot be known, the Bank has the right to withhold the credit balance in the Account for 24 (twenty four) months calendar days (“Retention Period”), without reducing the Bank's right to the aforementioned balance arising from any guarantees, fees, pledge, debt encounter, other assets or actual or indirect, or other costs for any actions that the Bank deems necessary to be taken for any demands from other parties. Upon the lapsed of Retention Period, the Bank will hand over the credit balance belonging to the User whose whereabouts cannot be known, to the Heritage and Property Agency (BHP) in accordance with the provisions of the Regulation of the Minister of Law and Human Rights of the Republic of Indonesia Number 20 of 2019 concerning Administration of Third Party Money at the BHP. Subsequently, the User or his/her heirs can claim the said credit balance to BHP.

3. In the case of User bankruptcy, the Bank has the right to act on and / or in accordance with a request submitted by the receiver or other authorized body to declare the bankruptcy of the User, in accordance with applicable laws, and the Bank may request documentation regarding such written declaration from the party or authorized government official or any court concerned in connection with User bankruptcy and other related matters.

4. At the time the documentation as stated above, whether related to the death or bankruptcy of the User, is submitted to the Bank, the Bank will carefully investigate whether the documentation can be used as evidence. However the Bank is not responsible for its truthfulness, authenticity, legality or completeness as well as whether the document has been translated correctly or has been interpreted correctly. Subject to a condition and exemption given by the person as mentioned above, the Bank can act on the instructions of that person and the payment made by the Bank to that person is valid and appropriate evidence of the fulfillment of the Bank's obligations to the User or its substitutes, successors and beneficiaries.

5. The bank will be exempted from all bills, records, lawsuits, cases and actions of any kind from the heirs, executors or managers of users who have passed away, experienced bankruptcy or where their whereabouts cannot be known.

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7. Inactive Account (Dormant)

1. In the framework of protecting User funds, the Bank has the right to change the status of an active Account to an account that is inactive / is dormant where there are no debiting transactions on the User's Account that have been carried out by the User for 12 (twelve) consecutive active months.

2. As long as the Account is dormant, all debiting transactions and several types of crediting transactions, especially those related to funds transfer transactions through the National Clearing System / SKN, Real Time Gross Settlement / RTGS, Telegraphic Transfer / Telex cannot be carried out, except for transactions related to Bank fees.

3. Account activation with a dormant status can be carried out based on the user's request in accordance with the applicable activation procedures at the Bank from time to time.

 

8. Transaction Limit

1. The User may make any transfer up to a maximum of Rp 99.999.999 per transaction and deposit up to a maximum of Rp 999.999.999 in Savings Account and Sub-Account(s), subject to the limits of the bank or eWallet involved in the transaction.

2. For deposits above the Rp 99.999.999, the User may be required to provide documents and/or answer other questions as part of the EDD (Enhanced Due Diligence) process.

3. The Bank has the right to determine the limits for the Nex App Transaction. The Bank at its sole discretion has the right at any time to change the size limit for each Transaction and/or per User. The Bank will notify users of changes regarding Transaction limits before the changes become effective, through information media commonly used by the Bank.

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9. Fees, Taxes, and Account Debit Authorization

1. The Bank has the right to determine the amount of fees for transactions made using the Nex App and charge fees to the User. The provisions regarding fees are fully determined by the Bank and will be informed to the User through the BPRXen Fees, Rates and Limits or the information media commonly used by the Bank, in accordance with applicable regulations, among others through the Nex App

2. Users are required to pay any and all fees, taxes, and fines in connection with Transactions, products and services provided by the Bank.

3. Users are required to bear the cost of the data network / or Internet used at a rate determined by the telecommunications service provider.

4. The bank will bear the cost of the SMS sent in connection with the use of the Nex App.

5. If the Bank appoints a lawyer to carry out or protect any of its rights or to settle a case in connection with the money in the Account either by legal process or other settlement, the User undertakes to reimburse all costs incurred in connection with this matter including legal fees (based on a lawyer relationship and clients).

6. The entire amount that must be paid by the User based on the Terms and Conditions of the Nex App must be paid in full without any deductions, set-offs or restrictions or conditions of any kind and free and clear of taxes or deductions in any form. If the Bank is required by law or regulation to carry out withholding based on tax or other matters for each payment to the Bank, the User will pay an additional amount of the amount of withholding or withholding and ensure that the Bank receives the payment amount from Users completely free and clear of taxes or deductions in any form, in accordance with the amount that would have been received if there were no such taxes or deductions.

7. Opening a Savings Account and/or Sub-Account(s) is intended for customers' transaction needs. If there is a transaction that does not match the customer's profile, such as but not limited to transactions related to fraud or misuse of bank facilities, the Bank is entitled to cancel or impose a fee on the transaction.

8. User hereby authorizes the Bank to debit the User Account at the Bank for an amount of: i. value of financial transactions according to User instructions to the Bank through the Nex App; and / or ii. fees, taxes, or fines related to transactions, products or services of the Bank through the Nex App and the BPRXen Fees, Rates and Limits.

 

10. Transfer of Funds

1. The Nex App can be used to transfer funds from; (i) one Account to another Account belonging to the same User (including but not limited to transfer of funds from a Savings Account to an Envelope or vice versa); (ii) User's Account to another User's account at another bank; (iii) User’s Account to accounts of other parties within the Bank; and / or (iv) User Accounts to accounts of other parties at other banks, within Indonesia. If the Transfer is made from the User's Account to an account at another bank under the BI network, the Transfer will follow the provisions of the National Clearing System (SKN) / Real Time Gross Settlement (RTGS) / Real Time Online Transfer (RTOL) from BI. Users are required to enter the correct Account number and other details required for fund transfer transactions.

2. The Bank is not responsible for erroneous Transactions that arise as a result of the User entering the wrong Account number. The bank will carry out fund transfer transactions through the Nex App according to User instructions. The Bank will determine from time to time the limit for fund transfer transactions made through the Nex App.

3. The Bank will process each fund transfer request within 2 (two) working days of receiving the request. The Bank at its sole discretion has the right at any time to change the processing time for each transfer request. The Bank will notify users of changes regarding processing times before the changes become effective, through information media commonly used by the Bank.

 

11. Account Balances and Account Movements

1. Users can monitor balances in the Account and check all transaction movements in Account history via the Nex App.

2. Users may deposit funds into their Accounts via the digital banking channels provided by the Bank within the Nex App, as amended from time to time.

3. The Bank will process each deposit request within 2 (two) working days of receiving the request. The User agrees that he or she shall comply with all of the Bank’s instructions on how to make a deposit request. Where the User does not comply with the Bank’s instructions, the Bank shall not be responsible for any delays in respect of such non-compliant requests. 

4. The Bank at its sole discretion has the right at any time to change the processing time for each deposit request. The Bank will notify users of changes regarding processing times before the changes become effective, through information media commonly used by the Bank.

5. Where provided, Users will receive reports on account mutations and balances in the Nex App.

 

12. Interest Rate

1. The Bank will pay cash at the applicable rate, which is calculated based on the daily balance and will be credited every working day after tax deduction (if any). Earnings accrued on non-working days will be paid on the next working day. The User must have a minimum balance of Rp 10.000 (ten thousand Rupiah) to be eligible for any interest rate earnings.

2. Each of PT NTD and the Bank has the right to determine the applicable earnings rate for the Nex App Transaction. Each of PT NTD and the Bank at its sole discretion has the right at any time to change the applicable earnings rate. Each of PT NTD and the Bank will notify users of changes regarding the applicable earnings rate 48 (forty eight) hours before the changes become effective (“Notification Period for Changes in Earning Rate”), through information media commonly used by the Bank. The User agrees to comply with this earning rate change, unless the User expressly states otherwise and automatically decides not to continue his participation in the Nex App within the Notification Period for Changes in Earning Rate

 

13. Deposit Insurance

1. User savings accounts in the Nex App will be guaranteed by the Deposit Insurance Corporation ("LPS") in accordance with applicable regulations. Interest rates on deposits in the Nex App can change at any time if there is a change in the LPS interest rate, which will be notified by the Bank to the User in accordance with applicable regulations through information media commonly used by the Bank.

2. If the interest rate (including gifts if any) from the deposits offered by this Bank is higher than the LPS guarantee interest rate and / or if the Customer's deposit balance in the Bank exceeds the guaranteed balance, namely Rp. 2,000,000,000, - (two billion Rupiah) or other amount as determined by LPS from time to time, the Customer agrees that the Customer's deposits (both principal and interest along with the extension / roll over) are not guaranteed by the LPS.

3. The customer agrees that it waives its rights to payment in relation to any guarantee claim if the guarantee claim on deposits is declared unfit for payment in accordance with (i) Article 19 paragraph (1) in Law No. 24 of 2004 as amended by Law No. 7 of 2009 concerning LPS; and (ii) Article 42 and Article 43 in LPS Regulation No. 2 / PLPS / 2010 concerning the Deposit Guarantee Program as amended from time to time, unless if the risk suffered by the Customer occurs due to errors and / or negligence of the management and / or Bank employees working for the Bank's interests,

4. The Customer will be fully responsible for all consequences that may arise including legal consequences related to this statement of agreement and releases the Bank from any claims, demands, lawsuits or losses of any kind unless the consequences or legal consequences suffered by the Customer occur due to errors and / or negligence of the management and / or employees of the Bank working for the interest of the Bank.

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14. Other Party Products

1. The Bank is not deemed to be liable for the performance of other party’s products, or any losses incurred, which are distributed by the Bank and which the Customer has agreed to use, purchase or order.

2. In the event that the third party product provides protection or guarantee, the Bank is not responsible for the protection and guarantee.

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15. Changes to the Equipment Used

If the User changes the device used to access the Nex App either because of replacing or losing the device that has been installed and registered with the Nex App, the User is required to reinstall the Nex App on a new device to be able to reuse the Nex App.

 

16. Temporary termination or suspension of the Nex App

The Bank may temporarily stop and / or suspend the Nex App (including but not limited to, (i) decline a request for Transaction, Transfer, or withdrawal, (ii) causing instability and/ or risk of system interference and/ or system failure, or (ii) blocking the access to Nex App whether partially or entirely) for renewal, maintenance or for any other reason that the Bank deems reasonable, with prior notification to the User in accordance with the Bank's policies, in the event of any of the following:

 

1. Technical

   • If there is a problem with the Nex App System.

   • If there is an upgrade, change and / or maintenance (upgrade, modification and / or maintenance) of the Nex App System.

   • There was a Force Majeure event.

2. Non technical

   • If the Nex App System is indicated to be used (whether by Users and/or other parties) for (i) criminal action (ii) unlawful actions, (iii) violation of prevailing laws or regulations, or (ii) such other actions that may cause harm to Users, Bank, or other parties.

   • Instruction, order, or request from relevant authorities.

   • Bank's considerations with respect to User data and information.

   • Any conditions, business circumstances or for any other reason.

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17. The expiration of the Nex App

 

The Nex App will end or may be terminated if:

 

1. The user uninstalls the Nex App.

2. The Bank has stopped providing the Nex App services. For the termination, the Bank will notify the User in 7 (seven) calendar days before the termination becomes effective, through information media commonly used by the Bank.

 

In connection with the termination of the Nex App, the User agrees to release the Bank from all claims or losses that may arise as a result of terminating the Nex App.

 

18. Complaints Handling

1. Users can report / notify the Bank as soon as they see or become aware of an error in a transaction, an unauthorized transaction execution or an inaccurate transaction record in an Account mutation or any suspicious matter in connection with a User Account.

2. The User will check every transaction and Account report carefully. The User agrees that if the User does not submit a written objection within 14 (fourteen) Business Days since the data is available in the Nex App, the transaction and / or Account report is deemed correct.

3. Users can submit complaints related to the Nex App, either verbally or in writing, by contacting the Bank  Customer Support.

4. Bank Customer Support can ask Users to submit evidence of Transactions and other evidence to support complaints.

5. Bank Customer Support will conduct an examination / investigation of User complaints in accordance with the policies and procedures applicable to the Bank.

6. The Bank is freed from all claims and losses in connection with transactions and information in the Nex App deemed correct by the User.

 

19. Service Center

1. Users can search for information related to the Account and Nex App by accessing the:

   • Nex App Help Center.

   • Bank’s Customer Support.

   • or through other information media commonly used by the Bank.

2. The Bank has the right to re-examine or verify and identify the User before providing services based on procedures determined from time to time by the Bank with due observance of applicable legal provisions.

3. The User hereby agrees that the instructions will be processed according to the time limit determined by the Bank.

4. The User hereby permits the Bank to record or record User's conversations with the Bank with or without using automatic tone warning tools and the Bank can use the recording in court proceedings or arbitration in the event of a dispute or as required / ordered by the applicable laws and regulations. The user acknowledges and agrees that the Bank at any time, at the absolute discretion of the Bank, may delete these records. Users release the Bank from all claims, lawsuits, legal actions, losses, damages and costs arising from instructions given by the user.

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20. Proof

1. The Bank and the User agree that the books and / or records of the Bank both in the form of documents and electronic media and / or other forms that are stored and maintained by the Bank are valid evidence and are binding on the User and the Bank. If there is a difference between the Transaction data recorded in the Bank's records and the User's records, then what will be used as a guideline and have binding evidence is the Transaction data recorded in the Bank's records.

2. The User acknowledges and agrees that all instructions from the User to the Bank in connection with the Transaction and other means of communication determined by the Bank are valid evidence and are binding on the User and the Bank even though they are not made in the form of a written document or a signed document. All instructions given by the User to the Bank in connection with the Transaction are the sole responsibility of the User and in this connection the User hereby frees the Bank from all losses, liabilities, demands and fees (including appropriate legal fees) arising in connection with the implementation of these instructions.