Terms & Conditions - HSBC

(iii) When an organisational Customer terminates its operations in accordance with the
stipulations of the laws.
(iv) In the event that the Customer breaches any law or any of these Premier Master Account
Terms and Conditions or any other Terms and Conditions specific to particular types of
Accounts, including but not limited to failing to submit supporting documents for Account
opening as required by the Bank within 30 (thirty) days from the date of the Account
Opening Form or within a certain period as stipulated by the Bank from time to time.
(v) The Bank may at any time close any Account in its sole discretion with or without notice
or giving any cause and the Bank will take no responsibility when doing this. In the case
of termination of a specific Account, the other Accounts or services shall be governed
by these Premier Master Account Terms and Conditions and the provisions of any
Mandate(s) pertaining thereto.
(vi) Upon the Account Closure, the remaining balance in the Account (less any banking
charges) shall be paid as requested by the Customer.
4.2.2 For reasons of security and to protect the interests of the Customer, the Bank, at its
discretion, may suspend the operation of Account in circumstances where there has
been no transaction on such Account for a 06 month period (“Dormant Account”). The
following provisions shall be applicable to Dormant Accounts:
(i)
In the event that the Dormant Account balance reaches zero and no Instruction or notice
from Customer is received by the Bank following 30 (thirty) days from the date of the
Bank’s notice on the Dormant Account, the Bank shall close the Dormant Account.
(ii) The Customer agrees that the Bank reserves the right to suspend all transactions with
respect to the Dormant Account until the Bank receives valid Instructions from the
Customer. In additions, a charge on the Dormant Account will be applied as per the
Bank’s tariff from time to time until the account balance reaches zero and then the
Dormant Account will be automatically closed with no further notice.
(iii) If there is no debit transaction through the Dormant Account for 6 (six) subsequent
months, the Dormant Account shall be identified as an “Unclaimed Account”. The
Account shall remain suspended and a charge on the Unclaimed Account will be applied
as per the Bank’s tariff from time to time until the account balance reaches zero and then
the Unclaimed Account will be automatically closed with no further notice.
4.2.3 These Terms and Conditions may, at the Bank’s sole discretion, be changed from time to
time upon giving the Customer prior notice by way of display in the Bank’s premises or by
such other method as the Bank may decide. If the Customer does not close the Master
Account prior to the expiry of the notice period, the Customer shall be deemed to have
agreed to such change.
4.2.4 The termination of a Master Account shall for all purposes terminate the Tier and all the
Features that the Customer enjoys under or in connection with that Master Account as a
result of the Tier allocation.
5. Tier
5.1 The Bank may from time to time designate one or more Tier(s) with different Features,
which may include enhanced services, preferential terms. For preferential interest rates
and/or special promotions on other accounts, the Bank may allocate (but without any
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