Kanbawza Bank Limited(KBZBank) requires that all persons accessing our Online Banking (“iBanking”), mobile banking(“Mobile Banking”), and Payment Services (“Bill Payment Services”) adhere to set forth the following terms and conditions. By requesting or using Online Banking, Mobile Banking, and/or Payment Services or permitting someone else to use these on your behalf, the User indicates your acknowledgment and acceptance of these terms and conditions, which are from time to time subject to change.
The Services allow the User to do the following here with but not limited to
KBZ Bank and our service provider reserve the right to obtain such additional information as KBZ Bank reasonably necessary to insure that the User is not using our Services in violation of law, including, but not limited to, laws and regulations designed to prevent ‘money laundering’ or the transfer of funds to accounts that are blocked under regulations of the Central Bank of Myanmar and Central Control Board in Ministry of Home Affairs.
The User is responsible for every Instruction (including every Accounts Payable Request) in relation to the Account, regardless of whether that Instruction is from the User, a person authorized by the User or any other person acting with or without the User’s knowledge or consent.
As an initial matter, the User must have a KBZ Bank account opened and in good standing to use the Online Banking, Mobile Banking and Payment Services. The User account will also be governed by this terms and conditions, disclosures and other documents provided to the User in connection with the opening of the User’s account, as they may be amended from time to time.
The User must be a registered Online Banking user in order to access Mobile Banking. The KBZ Bank Mobile Banking allows the User to conveniently access most of the functionality of Online Mobile Banking Services from virtually anywhere via the User mobile device. recipient In order to access and retain Communications, the User must have Email account and email software capable of reading and sending.
In order to facilitate more security and convenience way of authentication, User will have option to subscribe the AutoOTP feature. AutoOTP is an enhancement security feature on KBZ Mobile Banking app. AutoOTP leverages on your data connection and mobile number registered with the bank to send your one-time password (OTP) securely from our servers to your mobile device.
After you have logged into KBZ Mobile Banking app and make a transaction, the system will automatically send the AutoOTP directly to your registered mobile device and authenticate in the background without you needing to key in the OTP. Thus, AutoOTP is faster, more convenient and secure.
You shall take all steps necessary to allow KBZ Mobile Banking instruction to receive AutoOTP to your mobile device, including enabling Push Notifications through the KBZ Mobile Banking application.
The following parts of this section apply to Personal Accounts Only:
The following parts of this section apply to Joint Accounts Only:
The User can access joint accounts and give the Instructions about them. If any of the User Accounts is a joint account user, the User’s joint account holder has consented for the User to use the Accounts for the Service. If the User would like to create the individual joint account, all the joint account holders have to sign when they open a joint account and any account holder has the authority to use the Online Banking, Mobile Banking and Payment Services and all joint account holders agree and acknowledge that anyone of joint account holder can use the online banking services. The Users agree to be jointly and severally liable under this terms and conditions and all other agreements which govern your account. The joint account holders hereby acknowledge that the liability by the way of incurring all charges, overdraft, or otherwise at any time in respect of any Banking or other Account in our joint names shall be several as well as joint. KBZ Bank will end your usage of the Service if any joint account holder notifies KBZ Bank that;
The following parts of this section apply to Corporate Accounts Only:
The User can view account balances, transaction history, and account details on accounts. Users can also order a new cheque and/or the User can block the cheque when the User has been lost or stolen.
Any fees and charges associated with Online Banking, Mobile Banking, and Other Service are set forth in Annexure.
The User transaction available cutoff time is at 4:00 p.m. and updated at 4:00a.m. Monday through Friday except on Bank holidays.
The User can make a daily transaction the minimum amount 1000 MMK up to 20,000,000 MMK for individual account and corporate account can make a daily transaction limit up to 100,000,000 MMK.
The Corporate Account User shall give a proper Instruction and how to prepare for payroll service.
If the User has instructed KBZ Bank to make a payment for which there are insufficient available funds in the User future payment transaction on the date the payment is debited to the User account, the payment may not be made and the future payment transaction will automatically block future payment transaction until the account has sufficient funds. If the User Account has insufficient funds, the User can make three (3) attempts to use the account after which, KBZ Bank has the right to charge fines on the User.
KBZ Bank will process and complete all Online Banking, Mobile Banking transactions and transactions initiated through transactions which comply with this terms and conditions. However, if KBZ Bank unable to complete any transaction initiated by the User because of the existence of one or more of the following circumstances:
KBZ Bank identifies the Users by their unique User Id and Password. All transactions initiated with your User ID and Password will be attributed to the User. The User agrees not to give or make available your User ID and Password to any other individuals, including anyone claiming to represent KBZ Bank. The User a acknowledges that KBZ Bank will never ask the User for your Password or the answer to any security questions, and that KBZ Bank employees do not need the User Password or security question answers for any reason. However, the Bank has the right to ask the security question only when the User get a trouble in using the banking service. The User can contact the person who authorize in this banking service. In order to protect the User against fraud, the User needs to adhere to the following guidelines:
KBZ Bank is committed to protecting the security and confidentiality of information about the User account and use of the Online Banking, Mobile Banking, and Payment Service. KBZ Bank has taken reasonable and appropriate measures to ensure that any personal information is always secure on KBZ Bank’s Online Banking website. However, KBZ Bank cannot guarantee that then on public personal information that may have previously been provided will not be intercepted by other sand unencrypted or compromised. KBZ Bank will not be held liable for any security breach that occurs for reasons outside of its control.
If any provision of this terms and conditions is determined to be void or invalid, the rest of this terms and conditions will remain in full force and effect.
The terms, conditions, fees, transaction limitation and service charges applicable to Online Banking, Mobile Banking, and Payment Service may be changed by KBZ Bank from time to time and the User can check on the online. In such event, KBZ Bank shall inform to use User by public social media, in App notification and SMS alert. KBZ Bank also reserves the right to send such notice by Postal Mail. Any use of the Online Banking, Mobile Banking, or Payment Service after a change or changes take effect will constitute this terms and conditions to such changes. If an immediate change is necessary, for security reasons and/or according to the rules and regulations, KBZ Bank may make the change without any prior notice.
KBZ Bank may rely on the User address, including, without limitation, the User e-mail address, as it appears on KBZ Bank records for any and all communications KBZ Bank send to the User unless and until the User notifies KBZ Bank in writing at KBZ Bank for the change of address, and KBZ Bank has had a reasonable opportunity to act on such notice.
KBZ Bank may suspend or terminate the Service at any time, with or without cause and without affecting your outstanding obligations under this terms and conditions. KBZ Bank may immediately take this action if: the User breaches this or any other agreement with KBZ Bank; KBZ Bank has reason to believe that there has been or may be unauthorized or illegal use of the User account or the Service; or there are conflicting claims to the funds in the User account.
The telephone number and email address to be used to notify KBZ Bank when the User identified that an unauthorized Electronic Fund Transfer has been or may be made are:
Or the User may write to KBZ Bank ( email@example.com)
This terms and conditions are governed by and shall be construed in accordance with the laws and regulations of the Republic of the Union of Myanmar. Any disputes arising from this terms and conditions shall be submitted to a competent court of the Republic of the Union of Myanmar.