DOMESTIC REMITTANCE SERVICE TERMS & CONDITIONS

DOMESTIC REMITTANCE SERVICE TERMS & CONDITIONS

DOMESTIC REMITTANCE SERVICE TERMS & CONDITIONS 1. APPLICATION OF THESE TERMS AND CONDITIONS 1.1 These Terms and Conditions apply to all transactions you conduct using our Wantok Moni DomesticRemittance Service ( Service ). It is important that you read and understand these Terms and Conditions before you use this Service. 1.2 Other terms and conditions may also apply to the services or products we offer in connection with this Service. If there is any inconsistency between them, these Terms and Conditions will apply to this Service. 1.3 When you use this Service, you will be deemed to have accepted and agreed to these Terms and Conditions. 1.4 If there is any aspect of these Terms and Conditions you do not understand or are unsure about, you should contact us. 2. DEFINITION 2.1 The following definitions shall apply unless the context otherwise requires: Account means a BSP personal account which you have registered for use with BSP Mobile Banking service. Agent means a BSP registered agent which the Recipient can visit to perform Basic Transactions. Basic Transactions includes but is not limited to: Deposit transaction; Withdrawal transaction; Domestic funds transfer; (d) Payment of utilities; (e) Top-up recharge; and (f ) Any other additional services that we may introduce to BSP Mobile Banking from time to time. Our/We/Us refers to Bank of South Pacific Limited, its lawful successors and permitted assigns. Details includes but is not limited to the Recipient s name, mobile telephone number and any other information we may request from you when you use this Service. Force Majeure means any event or circumstance (whether arising from natural causes, human agency or otherwise), including but not limited to acts of God, acts of nature, damage by fire, flood, storm, delay, sudden and unexpected system failure, disruption by war, sabotage, riots, insurrection, civil commotion, national emergencies (whether in fact or law), strikes, lock-outs or other industrial disturbance or labour disputes, accidents, uncontrollable delays in transmitting electronic messages, power shortages or power failures, or the effect of any applicable laws, orders, rules or regulations, acts of Governments and their agencies and any other matters beyond our reasonable control. Recipient refers to the person to whom you have or would like to send funds using the Service.

Remittance Account means the account through which the Recipient is able to access the funds you sent to them using the Service. Remittance Transaction means the account through which the Recipient is able to access the funds you sent to them using the Service. Service means our Wantok Moni Domestic Remittance Service. SMS stands for Short Message Service and means a single message comprising up to one hundred and sixty (160) characters that can be transmitted at once and received by a mobile device. Territory refers to the Independent State of Papua New Guinea. Terms and Conditions means these terms and conditions governing the use of the Service and any lawful amendments to it. You/Your means you as the user of this Service. 3. VARYING THESE TERMS AND CONDITIONS 3.1 We may change all or part of these Terms and Conditions and/or the Service and its features at anytime without giving you prior notice. If you continue using this Service after we have made changes, you will be deemed to have accepted those changes. 3.2 Any new features that augment or enhance this Service will be considered as part of the Service and subject to these Terms and Conditions. 4. ELIGIBILITY 4.1 To use this Service, you must have; have an Account with us; own a mobile device which; (i) you use exclusively; (ii) has SMS capabilities; and (iii) has a mobile telephone number registered to a supported mobile service provider in the Territory; and be registered for our BSP Mobile Banking service. 5. USING THE SERVICE 5.1 You must ensure you enter the correct Details of the Recipient when using this Service. We will not be responsible for any loss to you or the Recipient if you enter incorrect Recipient Details and the funds are accessed by a third party. 5.2 When you complete a Remittance Transaction, an SMS will be automatically sent to the Recipient s mobile telephone number alerting them of this transaction and the funds in the Remittance Account. The SMS will also provide details of the Remittance Account and how to activate it to access the funds. 5.3 You will also receive an SMS containing an activation code which you may only disclose to the Recipient. The Recipient will require this activation code to access the Remittance Account.

5.4 It is important that you inform the Recipient of the Remittance Transaction soon after you have completed it as there may be delays in the transmission of the SMS to the Recipient for reasons beyond our control. 5.5 You should also advise the Recipient to keep their mobile device, any SMS sent through this Service and any activation code safe and secure from access by any third party. If they suspect or become aware of any unauthorised access to their mobile device, they should immediately notify you so that you can alert us. 5.6 To activate the Remittance Account, the Recipient must follow the instructions in the SMS they receive from this Service, including entering any activation code they receive from you. 5.7 The Recipient must activate the Remittance Account within thirty (30) days of receiving the SMS. If the Remittance Account is not activated by the Recipient within this period, the Remittance Account will expire and any funds remaining in credit in the Remittance Account will automatically be credited back to your Account. 5.8 Once the Remittance Account is activated by the Recipient, the Recipient is able to conduct Basic Transactions with any BSP Agent. 5.9 The Remittance Account only holds funds up to a limit of PGK500. Any instruction which you send us through this Service which may cause the Remittance Account to exceed this limit will automatically be rejected. 5.10 No interest is earned on credit balances held in the Remittance Account. 5.11 The Remittance Account will expire and automatically close: if all the funds in the Remittance Account have been exhausted by the Recipient; the Recipient has not activated the Remittance Account within thirty (30) days of receiving an SMS notification; or the credit balance in the activated Remittance Account is reduced to zero by a dormancy fee. 6 SECURITY 6.1 You are responsible for the security of your mobile device and any instructions given to us through it when using the Service. You must: take security measures to stop unauthorized access to your mobile device; and notify your mobile service provider if your mobile device is lost or stolen; or your mobile telephone number is not functioning. 6.2 If: (d) (e) your mobile device is lost, stolen, or fraudulently accessed by a third party; you become aware of any unauthorized transaction on your Account; you are aware of or reasonably suspect fraudulent activity occurring in this Service; the Recipient informs you that their mobile device is lost, stolen, or fraudulently accessed by a third party; or the Recipient informs you of any unauthorised transaction on the activated Remittance Account, you must immediately notify us. If you do not, we may not be able to assist you to protect any funds in your Account and/or the Remittance Account and you and/or the Recipient may suffer loss for which we are not liable.

7. SERVICE LIMITATIONS 7.1 The SMS sent to your mobile telephone number and to the Recipient s mobile telephone number through this Service is dependent on a number of factors. They include but are not limited to the wireless service and network coverage of your mobile service provider within the geographic area you are in. 7.2 The Service is subject to transmission limitations, network and service interruptions. As such, you may experience delivery failures, transmission problems or delays in the time you receive or send an SMS using this Service. 7.3 We do not warrant that this Service: will be available to you 24 hours a day 7 days a week, continuously, securely, uninterrupted and without fault or error; will be available to all parts of the Territory; or will meet your specific requirements or purposes. 7.4 You use this Service at your own risk acknowledging that we are not liable or responsible for any loss or damage occasioned to you or any party claiming through you or the Recipient as a result of matters beyond our control except for any fraud or wilful negligence on our part. 8. LIMITED LIABILITY 8.1 We are not liable for any direct, indirect or consequential loss or damage to you, the Recipient or any person claiming through you or them resulting from: your fraud or negligence or that of the Recipient or third party; unauthorised access to your mobile device or that of the Recipient; any unauthorised transaction being conducted due to: (i) (ii) you or the Recipient disclosing the SMS notification and activation codes to any third party; or you or the Recipient failing to keep your mobile device secure and knowingly or negligently allowing third party access to your mobile device; (d) (e) any delays on your part or the Recipient in informing us of any suspected or known loss, theft or compromise to your mobile device, any SMS notification or activation code or that of the Recipient; any delays by us, our Agents or your mobile service provider in transmitting or processing your instructions and for transactions or that of the Recipient; (f ) any error, interruption, defect, malfunction, system degradation, outages, network failures, suspension, termination of our systems including this Service and those of your mobile service provider; (g) (h) (i) (j) (k) unlawful interception of information by a third party or your mobile service provider on our system or that of your mobile service provider; any misleading, incorrect or false information being submitted to us by you, the Recipient or third party resulting in an unauthorised transaction being processed or restriction or delay in us acting on any instruction received through the Service; any Force Majeure event; any inability of your mobile device or that of the Recipient to access this Service; and damage to your mobile device or that of the Recipient by reason of your access, use or attempted use of this Service.

9. SUSPENSION AND TERMINATION 9.1 We may suspend or terminate the provision of any part or the whole Service to you at any time without prior notice to you: if any information you supplied to us is found to be deliberately or recklessly false or misleading; if intermittent checks, modifications and maintenance to the Service or our network is deemed reasonably necessary by us; if we have reasonable grounds to believe that the Service is being used by you for illegal, unlawful or fraudulent purposes; (d) if we are unable to continue providing the Service to you for any reason; (e) if you breach these Terms and Conditions in your use of the Service; (f ) if it is necessary to protect us, our customers or our network; or (g) we are required or compelled by law. 10. INDEMNITY 10.1 You agree to indemnify us against all claims, losses, expenses, damages and costs that we may sustain or incur as a result, whether directly or indirectly of: any breach of these Terms and Conditions by you; or any negligent act or omission or willful misconduct by you. 11. FEES 11.1 A transaction fee applies when you successfully complete a Remittance Transaction using the Service. This fee is charged to your Account. 11.2 If the Recipient does not use any of the funds in the Remittance Account within 150 days following its activation, a dormancy fee will be charged to the Remittance Account. 11.3 The dormancy fee will be charged monthly to the Remittance Account until: the Recipient begins to use the funds; or the balance in the Remittance Account is fully exhausted by the dormancy fee such that the account balance has been reduced to a balance of zero. 11.4 We may at our discretion waive any fees we charge for this Service. Our failure to collect any fee applicable to this Service does not constitute a waiver of that fee unless we expressly waive the fee. 11.5 We reserve the right to change the fee at anytime without prior notice to you. If you continue using the Service after we have made changes, you will be deemed to have accepted those changes. 11.6 Your mobile service provider may also charge you fees for sending SMS through this Service. You should contact your mobile service provider directly for details on SMS pricing. 12. RELATIONSHIP 12.1 No relationship will be formed between us and the Recipient when you use this Service.

13. NOTICES 13.1 Any notice which we give to you under these Terms and Conditions will either be communicated to you through: your mobile telephone number; notices displayed in our branches; and/or public announcements made through television, radio or newspaper. 13.2 You will be deemed to have received a notice immediately after any such display, advertisement or announcement and any continued use of this Service will be taken as your acceptance of the matters stated in the notice. 14. DISCLOSURE OF INFORMATION 14.1 You acknowledge that by using this Service, you agree and consent to us disclosing information about you, any Recipient or the transactions conducted by you through this Service to: (d) any a subcontractor or third party we engage to assist us with providing you this Service; any of our subsidiaries, affiliates or agents, including employees, auditors and legal advisors; relevant law enforcement bodies and regulating authorities and government agencies that the law requires us to disclose information to; and any person to whom we are compelled by court order to disclose your information to. 15. CONTACT US 15.1 If you have any queries or would like more information about our Service, these Terms and Conditions, or you would like to lodge a complaint or report with BSP regarding any matter stated herein, please contact us through any of the following means: Telephone: Call Centre on telephone number: + (675) 3201212 / 7030 1212 between 8am - 8pm Monday to Friday except public holidays in the Territory. Fax: + (675) 321 1954 Email: Mail: servicebsp@bsp.com.pg Bank of South Pacific Limited, Level 1 Head Office, Cnr Musgrave St & Douglas St, P.O Box 78, Port Moresby 121, National Capital District, Papua New Guinea