Woori Bank (Cambodia) Plc. Internet Banking For Business

By accessing and using our Internet Banking For Business, you agree to comply with and be legally bound by these Terms and Conditions.

Please read and understand the Terms and Conditions for the access to Internet Banking For Business. If you do not agree with these Terms of Use and do not wish to be bound by it, then you may not access our Internet Banking For Business. For any enquiry related to these Terms and Conditions, please reach to our held desk or Call Center of Woori Bank (Cambodia) Plc. (WBC).

1.      Definition

 

The following definition apply to the agreement unless otherwise specific in that agreement:

 

<<Woori Internet Banking for business >>  Service includes, without limitation, the request and receipt of information concerning any customer bank account including but not limited to deposit account, card account, and any loan account, or other banking facility product and account viewing account balance and statement , downloading electronic account statement where available, relating to the payment of utility bills, credit card bills, other third party bills, payroll, local bank transfer(internal transfer) and outward telegraphic transfer (external transfer) of funds to and/or from any account; cheque book request; top up, Any  transaction , functionality and feature that Woori  may introduce under online.

<<Account>> means all bank accounts, including any account type provided by Woori bank to customer

<<Account statement>> Account statement, Confirmations, or advice (The account statements) will be issued to you at the frequency and in the manner advice to you from time to time. It is your responsibility to examine promptly each entry in account statement which you received or which is made available to you.

 

<<Agents>> mean any representative, agents, correspondent bank, vendor, professional, advisor, contractor of third party service provider and << Agents>> shall be construed accordingly.

 

<<Agreement >> means, in respect of each service, the contract between you and us service comprising the solution and pricing proposal (if any) or our authorization / agreement to the proposal made by you as recorded in our application form(s) and any other amendments made / propose by you related to the service and ‘’agreement’’ shall also means all such contracts agreed between you and us. For the avoidance of doubt, any Agreement shall not include any term referred to or set out in any brochure, leaflet and service level agreement;

 

<<Authorization >>means: (a) an authorization, consent, approval, resolution, license, exemption, filing, notarization, lodgment or registration; or (b) in relation to anything which will be fully or partly prohibited or restricted by law if a Government Agency intervenes or acts in any way within a specified period after lodgment, filing, registration or notification, the expiry of that period without intervention or action;

 

<<Authorized Person/Signatory>> means any person you designate in writing (including electronically) as having the authority (either singly or jointly, etc.,) to issue any instructions or to act on your behalf under an Agreement or in relation to a Service and/or Account, and “Authorized Person/Signatory” shall include, in respect of an Woori Internet Banking for business, an Authorized User;

<<Master User>> means a person who is authorized to be final approver and sign on application form to use Woori Internet Banking for Business.

 

<< Business Day>> means a day on which we are open for general banking business in the Service Location for the relevant Service.

<<Communication>> means any transmission of information including any instruction, demand or notice;

<<Paying Bank>> means the bank who is obligate to pay the beneficiary amount.

<<Base currencies >> refer to USD currency.

<< Pay later >> Payment which is set by user on the system will only become effective in future date.

<< Soft Token >> Refer to 6 digits authentication requirement which is generated from Mobile Banking for Business app. It’s used for login Woori Internet Banking for Business Web with User ID& Password and also must using this soft token to approve the transaction.

 

<< Mobile Banking for Business app>> Refer to the digital platform which customer can access login with User ID & Password to generate soft token and also for approve the transaction by authorizer level.

<<System>> Mean any software , hardware , server , data process , telecommunications , operating system provided by , or on behalf of , us in support of and used together with any Woori Internet Banking for business .

 

<<STP>> Refers to a user in Corporate use Internet Banking For Business whose rights and access assigned by the Corporate to view/inquire/download and initiate / authorized either financial This role is straight through processing, that no need authorization from other role. Single signature and sole company.

 

<<Both>> Refers to a user in Corporate use Internet Banking For Business whose rights and access assigned by the Corporate to view/inquire/download and initiate / authorized either financial or non-financial transactions but unable to approve on transaction that created by own.

 

2.      Woori Internet Banking for business

 

Bank may from time to time add other services into the Internet Banking for Business and mobile Banking for Business app. Customer(s) are deemed to accept and agree to the product and service terms and conditions if they are still using the service.

 

Functions Description
Account Management Inquiry account information

Download account statement

Own Account transfer Transfer within Woori Bank Own Account
Transfer within Woori Bank Transfer to other account within Woori Bank
FAST Transfer to other Local Bank (Fast Member)
RFT Transfer to other Local Bank (RFT Member)
International Remittance Transfer to other bank oversea
International Trade Letter Credit

Bank Guarantee

Trust Receipt

Payroll Set up payroll template or import employee list
Bill payment To pay various bill payment by single/multiple or bulk upload
Phone top up Top up cell phone by single/multiple or bulk upload
Open accounts Self-service open Term Deposit
Self-service open Saving Account
Standing order To create instruction which specific amount and specific date for pay in the future.
Profile setting Edit profile information ,upload profile picture, Manage on notification , Change password
Notification Announcement of Woori Bank such as any newsletter, Service support etc.

Transaction message alert to user

User setting This function is for Master User role to do self-service ( Mange users via Internet Banking )
Card Management To manage card and control under company level
Exchange rate display Inquiry exchange rate and perform currency conversion
Language Applicable for Khmer, English & other foreign languages, up to bank policy
Extract E-certificate Applicable for customer to download Term Deposit E-certificate
Check Management Request and Manage on Check via Internet Banking Service
Create beneficiary Save beneficiary information for the next payment
Create payment template or create template from transaction Create detail template for the next payment
Swipe Account Schedule transfer: To select multiple accounts if one account is fail (insufficient balance) it will auto to other link account
Notification To send any announcement to customer
Authorization Centre To check authorize transaction history
Loan Calculator To calculate interest rate on Loan product
Fix Deposit Calculator To calculate interest rate on Fix Deposit product
Exchange Rate Calculator To calculate amount on Exchange rate
FAQ Display Q&A for customer
Live Chat Customer can raise any issues/concern
User Guideline Display Guideline for customer
Term & Condition Display Term & Condition for customer
Merchant Information Display Merchant information with mapping location
Locate Us / Branch location / ATM View location of nearest branch/ATM

 

3.      Eligibility

Any type of legal personality customer can apply for any one or all of Internet Banking by completing the relevant Woori Internet Banking for business application to be processed through any one of the Bank’s communication channels from time to time, which include, without limitation, the branch network, the contact center, email, social media, internet banking and mobile banking.

For security reasons and to ensure controlled and legitimate and lawful access to and use of Woori Internet Banking for business.
The Bank reserves the right to refuse to offer Woori Internet Banking for business to any Customer for any reason at its absolute discretion and without giving any reasons for such refusal.

4.      Your consent

When you start using or continue using this service, you agree to the following that:

  • You have established, agreed unequivocally, and given your consent to this Terms & Conditions.
  • Bank may update this Terms and Conditions without prior notice to you by posting such changes in the Bank website, or on other channel which may fit and you shall be legally binding on customers and us.
  • Before you apply to us for activation of Woori Internet Banking for business Services or uses Woori Internet Banking for business for the first time, you have carefully review and read this Terms and Conditions and Page 7 of 18 fully understood relevant provisions and accepted and agreed TO BE BOUND by this Terms and Conditions irrevocably.
  • Amendment of user/corporate profile will become effective only after Bank has completed its amendment as per existing process, which may require time. During this time, customer agrees to take care of its own account and facilities by preventing unauthorized user(s) from accessing the system including but not limited to calling to our Contact Center to block user.
  • Account mandate of the user(s) assigned to access Internet Banking must be the same/tallied with the User Profile submitted to bank via Bank’s application form and be operative via over-the counter (OTC) instruction. This includes but not limited to Authorization Limit, Account Access, Authorization Flow, service access…etc., except other user information such as email, ID/Passport Number, Phone number which may not require to be tallied/the same as User Profile. The Bank may reject any application whose instruction is different from the existing account mandate. However, Bank is not obliged to verify your account mandate against your assignation of user access, authorization limit, flow, service access…etc. They are your own obligations to ensure those access and user profiles are tallied and you agree to accept any irregularities arisen from such assignation without binding any liabilities to Bank and that you indemnify bank from all kind of losses related therein.

5.      Availability

The Bank will, on a best effort basis, make available Woori Internet Banking for business. However, availability is also dependent on third party service providers (including telecommunications providers, bill payment service provider, phone top service provider) and may be interrupted from time to time by routine maintenance requirements, excess demands on the system and reasons beyond the control of the Bank, all or part of which may cause disruptions in the availability of the service.

The Bank may restrict or cease your use of Woori Internet Banking for business at any time and for any reason upon notice to you.

In using Woori Internet Banking for business, you must make sure all device are compatible, virus free, legally used Your computer, mobile phone or other smart device and any other related equipment used to access Woori Internet Banking for business is compatible with Woori Internet Banking for business standard requirement and is free from any computer, mobile phone or other smart device viruses and must adequately protect such equipment by installing up-to-date security, anti-virus and other software.

If you access and uses Woori Internet Banking for business through a computer, mobile phone or other smart device which it does not own or otherwise is not legally registered in your name, it does so entirely at your own risk;

6.      Access

To access Woori Internet Banking for business, you must enter (i) your secret personal identification number, which is generally comprised of a set of digits (the User ID); (ii) your unique password /pin, which is generally comprised of a set of alpha-numeric characters (the “Password” or” Pin”); and (iii) Soft token (“Other Authentication Factor”) which is generated from IB Mobile app and Bank’s Woori Internet Banking for business system may change from time to time.

Your User will be suspended after maximum wrong attempt permitted and you need to contact Bank for reactivation.

If the User ID, Password and Soft token is not entered correctly after the maximum number of entries permitted by the Woori Internet Banking for business system, Your Woori Internet Banking for business Account will be suspended, requiring the Customer to contact the Bank to confirm your identity and reactivate your Woori Internet Banking for business profile.

7.      User ID , Login password

The Customer may at any time changing his/her Password as may be permitted within the functionality of the Woori Internet Banking for business platform or otherwise by contacting the Bank through one of the Bank’s electronic communication channels from time to time.

Customer may also contact bank Contact Center for support on some service including and not limited checking existing User ID, Reset login Password, Unlock User, or block own users. Bank will use its existing verification process to verify customer before entertaining the request via phone call. Bank may also requires sending of official email requesting the Bank to perform such service above. Customer acknowledges that their email/call can be recorded and can be used as a concrete evidence to support bank action by customer’s request via phone call to Contact Center.

8. Instruction for customer

Transaction via Internet Banking shall, unless proven otherwise, be deemed to be validly, knowingly and genuinely sent by or on behalf of the Customer. Any instruction from the Customer which is either a request for information, a transaction instruction or another form of instruction (an “Instruction” and together “Instructions”) shall, unless proven otherwise, be deemed to be validly, knowingly and genuinely sent by or on behalf of the Customer.

The Customer authorizes the Bank to act on all Instructions through Woori Internet Banking for business and irrevocably and unconditionally accepts as binding all Instructions.

Bank deeps that instruction sent to the Bank via Woori Internet Banking for business is error free and all information including but not limited to beneficiary’s account number and beneficiary account name are input correctly. The Bank is under no obligation to verify these details and cannot be held liable for the loss from such instructions. In the case of a transaction Instruction, it is the customer’s responsibility to ensure that all details relating to the intended beneficiary’s account are input correctly. The Bank is under no obligation to verify these details and cannot be held liable for any funds transferred to an incorrect beneficiary.

9.      Execution of instruction by bank

Instructions are irrevocable and cannot be reversed without the Bank’s prior approvals.

Any response to an Instruction from the Bank back to the Customer which contains Account information is retrieved from the Bank’s systems in real time and is the most recent and up-to date Account information as at the time of such response. Other information contained in a response to an Instruction may not be retrieved in real time but is the most recent and up-to-date information contained on the Bank’s systems.
The Bank will make reasonable efforts to modify, not process or delay processing any Instruction where requested by the Customer and, in doing, so the Bank will endeavor to notify the concerned office, agent or corresponding third-party banks. The Bank may not accept, and will not be responsible for any refusal, failure or delay in effecting.

An Instruction submitted through Woori Internet Banking for business will not be affected if the operations of Woori Internet Banking for business are suspended or terminated for any reason.

The Bank reserves the right to require the Customer to provide written confirmation or additional information in relation to an Instruction.

The Customer may not obtain the full value under telegraphic transfer on account of exchange due to restrictions applicable in the country of payment or to the paying bank or charges and fees of the paying bank.

For any transaction Instruction, the Bank will debit the relevant Account with the relevant transaction amount together with all applicable fees and charges (whether its own fees and charges, or correspondent’s fees or charges or other third-party bank fees or charges).

No written advice or confirmation will be made or issued by the Bank for any transaction Instruction issued through Woori Internet Banking for business.

Account Fixed deposit open via Woori Internet Banking for Business incase customer need to break before maturity date, client need visit the bank and fill on request form.

Master User must be assigned by Board of Company which is stated in Board Resolution and will become the final authorizer with right to be final approve on any financial transactions and to access reset password for other sub-users

STP role applicable for company who has one signature and one owner.
Both role applicable for company who has condition with the bank anyone to sign.

Executed transactions shall be recorded a statement of Account issued by the Bank periodically or as provided to a Customer at his/her request.

10. Execution cut off times

 

Transactions effect immediately for account to account transfer within bank; but follow cut off time and working day with foreign countries or third-party bank.

Instructions in foreign currencies or where the receiving account is not held with the Bank will only be affected up to the cut-off time applicable to the foreign currency and/or third party bank transaction on a Business Day. Instructions given after the cut-off time for a currency and/or third party bank transaction on a Business Day will only be executed on the next Business Day.

11. Transaction instruction limit

Executed transactions shall be subject to limits as set out in the Customer’s mandate or prevailing by bank policies, procedure; also follow by at its discretion, any generally applicable maximum aggregate limit per Customer and its application/assigned service from time to time.

Transaction Instructions shall be subject to limits as set out in the Customer’s mandate, subject to Bank’s prevailing policies, procedures and regulations from time to time.

Limit can be changed either to lower or higher than the limit set under Bank’s prevailing policies, procedures, regulations if the requested has been made by customer and approved by Bank.

12.  Record and Statement

The Customer may check his/her Account(s) statements and all records of Instructions on Woori Internet Banking for business.

The Customer must check these statements and records regularly and advise the Bank immediately and in any event within sixty (60) days, in the event of any discrepancy or dispute. Any failure to notify the Bank within sixty (60) days of any discrepancy or dispute will deem statements and records to be true and correct.

13. Customer obligation

The Customer is responsible to ensure that his/her ability to use Woori Internet Banking for business is permitted by the law applicable to him/her.

The Customer is responsible for payment of the applicable internet other charges levied by his/her third party telecommunications service provider in relation to the use of his/her computer, mobile phone or other smart device in accordance with such third party’s terms and conditions.

14. Bank’s Rights

The Bank reserves the right to appoint any third-party service provider to provide services supporting the availability of and accessibility to Woori Internet Banking for business.

Bank may notify you of any changes to these Terms and Conditions by publishing such changes on our Website, applicable acceptant screen of terms and condition for feature/function, or by displaying them at our branches. We may however choose to inform you by other means of communication.

15. Security Measure

The Bank may alter, amend or replace any or all procedures, forms or levels of encryption to ensure maintenance of security and confidentiality standards.

The Customer must keep his/her User ID, Password and Soft token, all Account information, any information conveyed over Woori Internet Banking for business and any related information secure and confidential at all times, and take any steps required to prevent unauthorized access to and use of such information. The Customer must not disclose his/her User ID, Password or soft token or any Account or Woori Internet Banking for business information to any third party, including the Bank’s staff.

Never access Woori Internet Banking for business from any computer connected to a local area network (LAN) or any public internet access device or access point or any mobile phone or other smart device, without first making sure that no one else will be able to observe or copy the Account holder’s access or get access to Woori Internet Banking for business pretending to be the Account holder

Never respond to emails asking for secure information, even if they appear to have been received from the Bank and, in particular, NEVER disclose the User ID, Password or soft token in any email or other writing to any person, including the Bank.

Subject to the Terms & Conditions and without prejudice to its rights under Others Terms & Conditions, the Bank will take all reasonably practicable steps to ensure that its systems used in connection with Woori Internet Banking for business are adequately secured and to manage and control the risks in operating its systems, including the installation of security features which are designed to keep all communication between the Bank and the Customer private and confidential, and taking into account relevant laws, regulations and good practices prevailing in the banking industry as applicable from time to time.

16. Liability and indemnity

The User ID, Password and Soft token are to be used by the authorized user Customer ONLY and should not be disclosed to any third party and the Customer shall be liable for any resulting costs, losses or expenses incurred by the Customer and the Bank due to such disclosure.

The Customer will be solely liable for:
all costs, claims, actions, damages or losses associated with reversal, revocation or cancellation of Instructions.
Payment of utility bills (including any late payments)​any loss, damage or harm arising due to non-compatibility between the Bank’s Woori Internet Banking for business systems and applications and his/her computer, mobile phone or other smart device, including any lack of security software on his/her part that could result in any loss, damage or harm to his/her computer, mobile phone or other smart device or Account(s).

The Customer will indemnify the Bank, its employees, agents, representatives and nominees on a full indemnity basis from and against all actions, claims, proceedings, demands, losses, damages, harms (including direct, indirect or consequential) costs, expenses, charges, taxes, penalties and legal costs and any other liabilities of whatsoever nature which the Bank may incur or suffer by reason of:

his/her access to and/or use of Woori Internet Banking for business

the Bank acting upon, delaying to act upon, or refraining from acting upon an Instruction and complying generally with its obligations or enforcing its rights under the Terms & Conditions.

 

17. Bank Charge

From time to time the Bank may, or may not, at its discretion charge a fee for the use of Woori Internet Banking for business, the cost and implementation of which shall be notified in advance to Customers in writing or otherwise through any one of the Bank’s communication channels, such as its website. Any applicable fees and charges will be directly debited from the relevant Account.
Fees and charges directly related to a transaction will be debited to the relevant Account at the time of execution of the transaction

18. Setoff currencies conversion

For the purposes of this paragraph or in satisfaction of any obligations due from you to us and/or any of our member, we may affect currency conversions at such times or rates as we may think reasonable and may affect such transfers between any Accounts as we consider necessary.
You agree to grant us a lien over the Accounts you hold with us in order to secure any and all obligations.

19. Suspense amendment termination

The Customer may request to terminate or cease to use of Woori Internet Banking for business at any time upon complete submission of application from and related documents to the Bank.

The Bank may suspense or terminate Woori Internet Banking for business in the event that the Customer:

  • Engages in any illegal activity.
  • Found in our unwelcome or blacklisted customer.
  • Files for bankruptcy.

20. Anti-money laundering

All facilities and services offered by the Bank are subject to all information requested being provided by the Customer in accordance with all applicable anti-money laundering regulations of the National Bank of the Cambodia and the Bank. If such information criteria are not met, the Bank is under no obligation to, and has the absolute right to refuse to, offer any facilities and services to the Customer.

21  Language

The Woori Internet Banking for business application process and the Terms & Conditions are available in English (Khmer & Korea upon request). In the event of any discrepancy between the two texts which results in a legal dispute, the English language shall prevail.

22. Governing law Jurisdiction

The Woori Internet Banking for business application process and these Terms & Conditions shall be governed by and construed in accordance with Cambodia laws. Any dispute arising from these shall be subject to the exclusive jurisdiction of the Courts of the Cambodia

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