CUSTOMER TERMS AND CONDITIONS
These Terms and Conditions form a legal agreement between Commercial Bank of Ceylon PLC (PQ 116) (hereinafter referred to as CBC) and each Customer (as hereinafter defined) and shall govern the use of the Flash Digital Bank Account opened by the Customer at CBC.
By clicking on the “I Accept” button below, the Customer acknowledges and confirms the
‘’Having read and understood the terms and conditions and the features of the Flash Digital Account, I hereby agree to be bound by such terms and conditions’
In this document and pertaining to the use of the Flash Digital Bank Account Services, unless otherwise specified
"CBC" means Commercial Bank of Ceylon PLC bearing registration # PQ 116 having it’s registered office at # 21, Sir Razik Fareed Mawatha ,Colombo 01 which term or expression will mean and include the said Commercial Bank of Ceylon PLC and its successors and permitted assigns.
- “Customer” means a person who having understood the features has downloaded and installed the Flash App of CBC and utilizes the various functions of the Flash Digital Bank Account Services.
- "Daily Limit” means the maximum monetary value of transactions which can be
transacted through the Flash Account during a day which said amount may be notified by
CBC to customers from time to time and is subject to change at the sole discretion of
Transactions & Transaction Limits
- Daily Transaction limit for fund transfers maximum of Rs. 500,000/-
- Per transaction limit for fund transfers from Flash accounts minimum Rs.1/- & maximum Rs.250,000/-
- Per transaction limit for fund transfers to Combank (non-Flash) minimum Rs.100/- & maximum Rs.250,000/-
- Per transaction limit for fund transfers to Other Bank minimum Rs.100/- & maximum Rs.250,000/-
- Daily Debit Card Cash withdrawal maximum limit Rs.200,000/-
- Daily POS limit through Debit Card maximum limit Rs 200,000/-
- No limitations for transfers between Primary Account to Savings and e-Fixed Deposits
- Investments will be enabled only through Primary Account (i.e. opening of e-Fixed Deposits) minimum deposit required for opening Flash e-FD is Rs. 25,000/-
- No limitations applicable for Bill payments from Primary Account to 3rd party service providers (i.e Utility service providers etc )
- JustPay/ LANKAQR per transaction limit Rs.25,000/-
- "DAY" means a period of 24 hours commencing from 00.00 hours Sri Lanka standard time.
- “Flash Digital Bank Account” means the account created / opened by the Customer on the Flash Digital Bank Account System, for the purposes of accessing the Flash Digital Bank Account and /or utilizing the Flash Digital Bank Account Services and does not include any other bank account or other payment instrument.
- “Flash App” means the mobile application of CBC relating to the Flash Digital Bank Account System available for download at an approved app store.
- “Flash Web” means the web application of CBC relating to the Flash Digital Bank Account System available at www.flashbank.lk through which customers can obtain more information and register for the facility.
- “Flash Assistance” means the services offered by the service centre established by CBC for the purposes of the Flash Digital Bank Account Service, details of which are available on the Flash Website of the CBC.
- “Flash Digital Bank Account” means the bank account opened by a Customer at CBC,
through the Flash Digital Bank Account Service, the opening of such bank account being a
pre-requisite for the provision of the Flash Digital Financial Services. In default two
accounts will be created and assigned for each customer as follows;
- Flash Primary Account: All transactions such as deposits, inward and
outward transfers, bill payments, merchant settlements and transferring to any
investment account within CBC will originate through this account.
Flash Primary Account Number will be indicated on the app for customer’s
In case of an emergency, Flash customer may make over the counter withdrawals only through the Flash Primary Account, balances in the Flash Savings Account under different savings goals can be withdrawn only through the primary account after transferring such balances.
The above account is subject to the following features and limitations ;
- Non-interest bearing Savings Account
- No minimum initial deposit required for account opening
- Mode of Deposits
- Online Wire/Fund Transfers in LKR
- Inward Remittances in LKR
- Deposits through Bank’s CDMA/CRM
- Over the Counter Deposits
- Cash withdrawals are entertained only ?via ATMs except for an emergency
- Flash Savings Account : All savings targets set by customer through Flash
Digital Bank Account Services will be credited for customer’s Flash Savings
The term "Flash Digital Bank Account" will therefore mean and include the said Flash Primary Account and Flash Savings Account.
This account is maintained in Flash customers name and balances in all savings goals will be credited and maintained in this account as an aggregated balance.
Interest on the balances lying to the credit in the Flash Savings account will be as per the CBC’s published Public Savings Rates.
The above account is subject to the following features and limitations :
- This is an interest bearing Savings Account
- Public Savings Interest Rate would apply
- No minimum initial deposit required for account opening
- Customer may close Flash Digital Bank Account and demand balances in both Flash Primary and Flash Savings Accounts.
- In the event the customer withdraws the balance in the Flash Savings Account it is the duty of the Flash customer to delete all outstanding savings goals set up by him/her in the Flash Digital Bank Account app.
- Flash Primary Account: All transactions such as deposits, inward and outward transfers, bill payments, merchant settlements and transferring to any investment account within CBC will originate through this account. Flash Primary Account Number will be indicated on the app for customer’s necessary action.
- “Flash Contact” means a third party (person or entity) whose contact details have been saved on the contact list of the Customer’s Flash Account.
- “Flash Debit Card” means the plastic / virtual debit card issued by CBC, which is linked to the Flash Digital Bank Primary Account.
- “Flash Digital Bank Account System” or “Flash” means the technological creation owned and administered by CBC and its associated partners in relation to the provision of the Flash Digital Bank Account to Customers.
- “Flash Digital Bank Account Services” means the Financial Services and the Non-Financial Services provided by CBC to Customers through the Flash Digital Bank Account Service as detailed in below (I) and (m).
- “Flash Financial Services” means the financial services that are offered to
Customers in the Flash Digital Bank Account System, comprised of Fund Receipts, Payment
Transactions, Savings, Budgeting and Investments.
- Transfer of monies between Customers
- Transfer of monies from a Customer to the Customer’s Flash Contact
- Payments by Customers to utility service providers registered with CBC etc.
- “Flash Non-Financial Services” means the non-financial services that are offered
to Customers in the Flash Digital Bank Account Service including the following and which
specifically excludes the Flash Financial Services:
- Viewing marketing information
- Viewing promotions and an introduction demo
- Viewing the CBC’s ATM and branch finder
- Such other services as may be notified by CBC from time to time
- “Flash Website” means www.Flashbank.lk
- “Fund Receipts” means the receipt of monies into Flash Primary Account by way of over the counter deposit, ATM/CRM/CDMA deposit or fund transfers or in such other manner as may be notified by CBC from time to time.
- “Minimum Balance” means the minimum balance (if any) to be maintained in the Customer’s Flash Bank Account, which said amount may be notified by CBC to customers from time to time and is subject to change at the sole discretion of CBC.
- “Mobile Device” means a mobile phone, tablet, phablet or such other mobile device that has the ability to connect to mobile telecom networks and has internet connectivity, subject always to such specification requirements as may be notified by CBC from time to time.
- “Mobile Number” means the mobile number of the Customer that is registered with CBC or has otherwise been provided by the Customer when opening / registering for the Flash Digital Bank Account as a contact number to communicate with CBC.
- “Payment Amount” means the Sri Lankan Rupee amount of a Payment Transaction, together with related fees, other charges and taxes, as applicable.
- “Payment Instruments” mean the Flash Digital Bank Account, the Flash Debit Card and Flash Primary Account which were registered and issued on the Flash Digital Bank Account, in order to conduct Payment Transactions.
- “Payment Transaction” means the processing of a payment that results in the
debiting, charging or other related transaction of the Payment Amount, to the relevant
Payment Instrument of the Customer in relation to the following transactions.
- Payments made by the Customer to/at Merchants that accept Flash payment services
- Online payments
- Withdrawal of funds
- Such other transactions as may be notified by CBC from time to time
- “Permitted Foreign Transactions” means inward remittances in foreign currency into the Flash Digital Bank Account and online payments in foreign currency for international transactions via a Payment Instrument, in each case subject to the limitations which are set out by CBC and the Central Bank of Sri Lanka from time to time.
- “Registration Information” means the information and supporting evidence provided by the Customer to CBC for the purposes of satisfying the requirements applicable to the opening / registration of a Flash Digital Bank Account, as set out in clause 5.
- “Terms and Conditions” means these terms and conditions, as may be supplemented, substituted, amended or replaced by CBC from time to time.
- “Transaction Limit” means the maximum monetary value that can be spent for each Payment Transaction from the Flash Digital Bank Account during a day, which said amount may be notified by CBC from time to time and is subject to change at the sole discretion of CBC.
- “User Credentials” means user IDs, PINs, passwords generated by CBC and biometric
data registered by a Customer for the purposes of accessing the Customer’s Flash Digital
Bank Account and/or utilizing the Flash Financial Services.
- USER ID will be notified to customers registered mobile via SMS
- Initial Password will be delivered to registered email address
- Transaction OTPs will be delivered to both customers registered mobile via SMS and to registered email address
2. The Flash Digital Bank Account System
The Terms and Conditions, together with the instructions, specifications and limitations set out in the Flash Website which are incorporated herein by reference; govern the provision of the Flash Digital Bank Account by CBC to the Customer and the use of the same by the Customer. The Customer agrees to access the Flash Website or contact Flash team at CBC for further details relating to the provision of the Flash Digital Bank Account Services to the Customer and to contact Flash Assistance in the event that the Customer requires further information. In particular, any amendments or supplements to the Terms and Conditions shall be published on Flash website and notified to the Customer via an electronic message.
3. Commencement of Flash Digital Bank Account
Subject to clause 4 below, a Customer who downloads the Flash App and agrees to the Terms and Conditions would be entitled to register for the Flash Digital Bank Account Services.
In order to use the Flash Financial Services, the Customer must complete all information elements required on pages where a Customer registers a Payment Instrument in the Flash Account and collect Flash Debit Card from preferred branch selected by the customer at the time of the registration by producing following identity and documentary proof
- It is mandatory that customer should collect the Flash Debit Card by establishing his/her identity and upon completion of the KYC documentation at the preferred branch, in order to complete opening of the Flash Digital Account.
- If customer is residing in a different address to the address stated in his/her NIC, it is mandatory to submit a proof of address ( an original billing proof i.e. Electricity, Water or Telephone bill ) at the time of visiting the branch for collection of Flash Debit Card.
- In the event of the Customer’s failure to establish the above CBC will be compelled to temporary suspend / de-activate the Flash Digital Bank Account After temporary suspension as per below 15.(a), customer can re-activate the Flash Digital Bank Account by collecting the Flash Debit Card within 90 days of registering for Flash Digital Bank Account.
Services under Flash Digital Bank Account would be similar to the services offered for any other customer of CBC.. The Customer is advised to contact Flash Assistance or access the Flash Website for more information about Flash Digital Account.
5. Requirements to Register for the Flash Digital Bank Account
- A Customer must satisfy the following requirements for the purposes of registering for the Flash Digital Bank Account Services:
- Be a resident of Sri Lanka;
- Be over 18 years of age;
- Possess a Mobile Device with software conforming to the requirements set out on the Flash Website;
- Provide a Mobile Number registered in the name of the Customer (or written consent from the registered owner of the Mobile Number where such number is registered in another person’s name); and
- Fulfill all anti-money laundering and “Know Your Customer (KYC) ” requirements of CBC.
- The Customer shall provide CBC with sufficient Registration Information in order to satisfy the aforesaid registration requirements. The Registration Information shall be provided in the manner prescribed by CBC from time to time, which shall include the submission of the Registration Information digitally via the Flash App. CBC reserves the right to verify the Registration Information with third parties.
- For the purposes of satisfying continuing anti-money laundering and “KYC” requirements of CBC, CBC reserves the right to request for additional documentation and supporting information from time to time, even after completion of the registration of a Customer’s Flash Account. CBC may at its sole discretion block or close the Customer’s Flash Account, in the event of a failure to provide satisfactory documentation and supporting information following a request for the same from CBC.
- The Customer is responsible for providing accurate and genuine Registration Information that relates to only such Customer and no other person. The Customer is responsible for keeping such Registration Information up to date, and notify CBC of any changes. The Change of Sri Lankan residency status of a Customer would result in the Customer being ineligible to utilize the Flash Financial Services.
- CBC reserves the ultimate right to register any person as a Flash Customer
Flash Financial Services
- Other than Permitted Foreign Transactions, the Flash Financial Services must be strictly used only for the purpose of completing domestic transactions in Sri Lanka Rupees.
- The Flash Financial Services must be used only for lawful and legitimate purposes and only for conducting the permitted transactions as specified in these Terms and Conditions and on the Flash Website.
- Once the Customer’s Payment Instrument has been authorized, the relevant Payment Transaction is deemed completed and discharged. In addition to these terms and conditions, Payment Transactions conducted through Payment Instruments are subject to the terms and conditions between the Customer and the relevant financial institution and/or the issuer (in the case of a debit).
- In addition to the fees and charges of CBC ,the Customer is liable for any charges and fees that maybe imposed under the Payment Instrument terms and conditions, as a result of the Customer’s use of a Payment Instrument.
- The Customer is solely responsible for updating and renewing the Payment Instruments in a timely manner, in order to have uninterrupted use of the Flash Financial Services.
- All Transactions processed through the Flash Digital Bank Account are non-refundable and are non-reversible by the Customer through the Flash Digital Account.
- CBC will monitor and supervise transactions that take place using the Customer’s Flash Account and Payment Instruments linked thereto. In the event there are suspicious, unlawful or unintended transactions taking place through the Flash Account and/or the Payment Instruments linked thereto, CBC reserves the right to reverse or suspend such transactions, including the right to suspend the availability of the Flash Account, without giving notice to the Customer. In such circumstances the CBC reserves the right to restrict the Customer’s access to the Flash Account.
- CBC will report suspicious transactions to the Financial Intelligence Unit (“FIU”) established under the Financial Transactions Reporting Act Number 6 of 2006 and any other law enforcement authorities and Regulators as the case may be.
- CBC is required to report to the FIU in such manner as may be prescribed by the FIU, every cash transaction and electronic fund transfers in any manner (including inward and outward remittances, SLIP/CEFT transfers, RTGS transactions, debit card transactions exceeding the sum specified by Regulations.
- Customer will be entitled to earn interest on the funds lying to the Customer’s credit in the Flash Savings Account and Flash e-Fixed Deposits at CBC’S published rates andare payable in any manner, as may be notified by CBC from time to time at the sole discretion of CBC. The Customer may be r entitled to bonus interest and other rewards on the Flash Digital Bank Account, from time to time at the sole discretion of CBC.
- Customer will not be entitled to earn any interest on the funds lying on the Primary Account to the Customer’s credit in Flash Digital Bank Account Service.
- The Customer agrees to maintain the Minimum Balance (if any) in the Flash Bank Account.
- In the event the FIU/any other Law Enforcement Authorities /Regulator instructs CBC not to carry out any transaction, CBC will suspend the transaction and allow the FIU/ such Authority/ Regulator to make necessary inquiries.
- CBC has no obligation to inform the Customer of any action taken by CBC in relation to the above and CBC will not be liable or responsible to the Customer in respect of any such action taken by CBC.
- Flash Financial Services will be utilized by Customers only for the purpose of completing personal transactions and no transactions with commercial intent or association must be carried out through Customer’s Flash Account.
- Customer will be subject to and shall comply with the applicable Merchant Limit, Transaction Limit and Daily Limit as may be imposed by CBC. The Customer has the option of imposing their own Daily Limit and Transaction Limits, provided that such limits are within the applicable Merchant Limit, Transaction Limit and Daily Limit.
- The Customer agrees to have the Mobile Device in his/her possession at the time of initiating a Payment Transaction, and agrees to accept or reject the Payment Transaction via a verification message sent to the Mobile Device by CBC.
7. Payment Instruments
- The Customer may link Payment Instruments from other banks/financial institutions to the Customer’s Flash Account, in accordance with CBC’s specifications as shall be set out on the Flash Website. Once a Payment Instrument has been successfully linked to the Customer’s Flash Account, CBC will store the relevant account/card numbers as may be required to provide the Flash Digital Bank Account to the Customer. The Customer acknowledges that CBC is not a party to any agreement between the Customer and such other bank/financial institution in relation to the Payment Instruments and is not involved in issuing credit facilities or determining eligibility for credit facilities. CBC does not make any representation warranty or verify that any of such Payment Instruments are in good standing or that relevant bank/financial institution will authorize or approve any Payment Transaction carried out by the Customer through the Flash Digital Bank Account System.
- With the linking of the Payment Instruments to the Customer’s Flash Account, the Customer authorizes CBC to debit and credit such Payment Instruments for the purposes of utilizing the Flash Financial Services. The Customer represents warrants and undertakes to CBC that the Customer will ensure that operating instructions relating to the Payment Instruments will be consistent with the Customer’s use of the Flash Digital Bank Account Services.
- By choosing to link Payment Instruments to the Customer’s Flash Account, the Customer acknowledges and consents to CBC to submit details of such Payment Instruments and related information to third parties in order for such parties to recover charges on account of goods or services supplied by such parties to the Customer. CBC will not have any further involvement with such parties other than passing the required details .. CBC will not be held responsible for any issues arising out of such third party transactions. The Customer will have to resolve any dispute that may arise with third parties or financial institutions which has issued / opened such payment instruments. f) The Customer is responsible for the maintenance of accurate information regarding the Payment Instruments in the Flash Account (such as expiration dates, updated card nos. etc). The Customer represents and warrants to CBC that the Customer has all rights and authority to register the Payment Instruments with the Customer’s Flash Account.
8. Flash Debit card
The Flash Debit Card is a plastic/virtual debit card linked to the Customer’s Flash Bank Account to be used by the Customer for Payment Transactions, subject to the limitations specified in these Terms and Conditions and the Flash Website. The Flash Bank Primary Account of the Customer will be debited in relation to such transactions.
- The Customer hereby confirms that he is aware of conditions imposed under the Foreign Exchange Act, No.12 of 2017, subject to which the Flash Debit Card may be used for Permitted Transactions and the Customer undertakes to abide by the said conditions;
- The Customer agrees to provide any information on foreign exchange transactions carried out by the Customer on the Flash Debit Card, which CBC may require for the purposes of the said Exchange Control Act; and
- The Customer confirms that the Customer is aware that CBC is required to suspend the availability of foreign exchange on the Flash Debit Card if reasonable grounds exist for CBC to suspect that unauthorized foreign exchange transactions are being carried out on the Flash Debit Card.
- The Customer must bear charges and fees (if any) relating to the use of the Flash Digital Bank Account (including any fees on flash service, debit card and charges on termination) (collectively referred to as “Charges”), as contained in CBC’s tariff booklet, published on the CBC website, www.combank.lk and/or on the Flash Website. CBC reserves the right to amend these Charges from time to time.
- The Customer must pay or reimburse to CBC, all taxes, stamp duty and/or other levies (collectively referred to as “Levies”) which may be payable as a result of the Customer’s use of the Flash Digital Bank Account Services.
- The Customer agrees that CBC will have the right to debit the Flash Bank Account or any other bank account of the Customer with CBC, for Charges and Levies payable by the Customer (collectively “Charges”), in relation to the use of the Flash Digital Bank Account Services.
- The Customer shall be responsible for all fees and charges that may be charged by third parties in the course of the utilization of the Flash Digital Bank Account by the Customer. For the avoidance of doubt, the Customer shall be responsible for all fees and charges levied by carriers such astelecom operators and other banks/financial institutions relating to the linked Payment Instruments.
10. Undertakings of the Customer
- The safety of the Mobile Device shall lie with the Customer.
- The Customer shall maintain the confidentiality and security of the Flash Digital Bank
Account System and the Customer’s Flash Account which shall include the following
- Storing the Mobile Devices in a secured manner;
- Keeping User Credentials confidential; and
- Keeping the IMEI codes used to access the Flash Digital Bank Account separately from the User Credentials.
- The Customer shall immediately report the loss of any Mobile Device to CBC by calling Flash Assistance and following the instructions provided by CBC.
- In the event of the loss of any Mobile Device and/or where the confidentiality and security of the Customer’s Flash Account is likely to have been or will be compromised, it is the sole responsibility of the Customer to bring such instances to the notice of CBC immediately. In particular, the Customer shall promptly call Flash Assistance to report such event to CBC and shall follow the instructions provided by CBC to the Customer in order to rectify or otherwise deal with the issue. Without prejudice to any other clauses in these Terms and Conditions, the Customer acknowledges that the Customer shall be solely responsible for any transactions which have been done by any unauthorized person through the Customer’s Flash Account by reason of the Customer failing to maintain the confidentiality and security of the Customer’s Mobile Device and/or Flash Account.
- All transactions once completed using the applicable User Credentials of a particular Customer’s Flash Account on the Flash Digital Bank Account System are conclusive and binding on such Customer and the Customer shall be liable in respect of such transactions. It is the Customer’s responsibility to ensure that no other person has access to the Customer’s Flash Account and/or the related User Credentials.
- The Customer shall be responsible for any and all transactions by persons that the Customer authorizes to access the Customer’s Flash Account or otherwise use the User Credentials, and for any and all consequences of use or misuse of the User Credentials.
- It is the responsibility of the Customer to confirm the accuracy of all information entered into the Flash Digital Bank Account System to ensure that the Customer’s intended transactions are properly carried out.
- CBC shall not seek further confirmation on the authenticity of any transactions effected through the Flash Account and CBC will not be liable for carrying out instructions that are validated by the applicable User Credentials of a Customer.
- Without prejudice to any other provision in these Terms and Conditions, the Customer
specifically acknowledges that CBC shall not be liable in any manner whatsoever for the
Customer’s failure to complete a transaction on the Flash Digital Bank Account System in
the following instances and in any other instances as specified in applicable laws:
- the transaction is not within the scope of the Flash Financial Services provided to the specific Customer;
- in its absolute discretion, CBC is of the view that the transaction is suspicious or illegal;
- the transaction breaches the Merchant Limit, the Daily Limit or the Transaction Limit;
- a Merchant refuses to honor the transaction;
- the Customer does not have enough funds available in the relevant Payment Instrument to effect the transaction;
- if the Mobile Device used by the Customer is incompatible with the Flash Digital Bank Account System or is in any way defective or fails to meet the required specifications for using the Flash Digital Bank Account System;
- if a Merchant’s equipment through which the transaction is being or attempted to be processed is not working properly;
- failure to renew a Payment Instrument;
- if the transaction information supplied by the Customer or a third party is incorrect or untimely; or
- if the Flash Digital Bank Account System is unavailable for use at any time, due to circumstances beyond CBC’s control (including but not limited to force major reasons).
- The Customer acknowledges that all Payment Transactions conducted through the Flash Digital Bank Account System are effected in real time. Accordingly, other than expressly specified in the terms and conditions applicable to the individual Payment Instruments, CBC does not undertake to stop or reverse any Payment Transaction once the Customer has entered into it.
- The Customer will not hold CBC liable for any transaction which the Customer has entered into with Merchants using the Flash Digital Bank Account System. It is the responsibility of the Customer to take steps to confirm the completion of all aspects of a transaction as at the point of such transaction (that is, the physical payment or acceptance of cash or the provision of goods/service must be carried out simultaneously with the respective transaction being carried out through the Flash Digital Bank Account System).
- CBC shall not accept any liability for the quality of goods and services provided by a Merchant.
- CBC shall be entitled to promote any of its products or any third party products to the Customer through the Flash Digital Bank Account System.
- CBC reserves the right to display CBC’s marketing material electronically on the Flash Digital Bank Account System.
11. No Endorsement of ProductsCBC does not represent or endorse and will not be responsible for:
- the reliability or performance of any Merchant or third party provider (including telecom operators and financial institutions whose bank accounts, debit cards and credit cards are linked to the Flash Digital Bank Account System);
- the safety, quality, accuracy, reliability, integrity or legality of any product, service, offer, loyalty program, or other items that may be stored and/or redeemed on the Flash Digital Bank Account System, or of any advice, opinion, offer, proposal, statement, data or other information (collectively, "Content") displayed or distributed, purchased or paid through the Flash Digital Bank Account System; or
- the Customer’s ability to buy or redeem products and services using the Flash Digital Bank Account System.
- for any errors or omissions in any Content in the Flash Digital Bank Account System. CBC reserves the right, but shall have no responsibility, to edit, modify, refuse to post or remove any Content, in whole or in part, that in its sole and absolute discretion is objectionable, erroneous, illegal, fraudulent or otherwise in violation of the Terms and Conditions.
12. Notifications, Instructions and Prescribed Manner
- Notifications by CBC in relation to the Flash Digital Bank Account System (including changes to the Terms and Conditions, publication of fees and charges and operational instructions for the use of the Flash Digital Bank Account System) may be made/given by CBC from time to time by way of text message to the Mobile Number, email to the Customer’s registered email address, notifications through the Flash App, publication on the Flash Website or in any other manner deemed appropriate by CBC at its sole discretion. Notifications will be binding on the Customer immediately. The Customer agrees and consents to receive such notifications electronically and it is the Customer’s responsibility to open and review such notifications of CBC through the methods described above.
- Instructions, requests or notifications sent by the Customer to CBC will be considered received only when the request has been received by an authorized office or officer of CBC in the manner prescribed by CBC on the Flash Website and CBC has had reasonable time for acting upon such notification.
- Any instructions to block, modify, vary or recommence the operations of the Flash Account shall take place only after such instructions have been verified by CBC.
- CBC will provide instructions and information through Flash Assistance and the Flash Website as to the prescribed manner and format in which the Customer is to notify CBC of specified events including but not limited to the reporting of lost mobile phones and termination of services notifications.
- Statements: Flash Primary Account will get a transaction statement in digital format and
Flash Savings account will always carry the aggregated savings goals balance and bank
will only provide a statement on Flash Savings Account at customers demand.
- Unless otherwise agreed with CBC, CBC will issue periodic balance statements (monthly or at such other intervals as determined by CBC), electronically, to a designated e-mail address of the Customer, in relation to the Flash Bank Digital Account Services covering both Flash Primary and Savings Accounts. The Customer may notify CBC and opt for physical statements, if the Customer so requires and provision of the same may be subject to fees, as per CBC’s general tariffs.
- Any objection the Customer may have concerning the incorrectness or incompleteness of a periodic transaction and balance statements provide by the Flash app , must be raised promptly by the Customer, but in any event, must be received by CBC in writing within thirty (30) days following receipt of such statement by the Customer, in the absence of which such transaction will be deemed to be correct and binding on the Customer.
- The Customer must immediately examine transaction history and balance of the Flash Digital Bank Account (referred to above), transaction statements, advices, execution of orders and such other statements and information relating to transactions over the Flash Bank Account, as to their correctness and completeness and immediately notify CBC in writing of any objection, in the absence of which, the statements, advices and information will be deemed binding on the Customer.
13. Dispute Resolution
- CBC will establish Flash Assistance for the purposes of responding to customer inquiries, disputes and receive complaints (together referred to as a “Dispute”).
- In the event of there being a Dispute with regard to the Flash Digital Bank Account Services, the Customer shall report same to CBC by calling Flash Assistance. A reference number will be assigned to each Dispute and the Dispute will be forwarded to the relevant department or division of CBC for inquiry and further action.
- CBC will respond to the Customer on the Dispute within three (3) working days from the date of the Dispute being reported. In the event that CBC is unable to conclude the inquiry into the Dispute within this time period, then CBC will within such period of three (3) working days provide the Customer with an interim response and a final response will be given thereafter.. In the event CBC concludes that the Customer’s complaint is legitimate, CBC will take steps to resolve the Dispute. CBC may respond to a Dispute verbally or in writing. All Disputes will be responded to in the same language as the language in which it was reported.
- The Flash Digital Bank Account will be governed and construed in accordance with the Laws applicable in Sri Lanka and any dispute there under will be finally resolved within of Sri Lankan courts.
14. Suspension or Termination
- If the Customer wishes to deactivate or remove any Payment Instrument from the Flash Account, the Customer may do so by contacting Flash Assistance and following the instructions provided therein
- The Customer shall pay any outstanding Charges and/or Levies, prior to deactivation or termination of the Flash Account. Failure to do so will compel CBC to debit the Flash Bank Account or any other bank account opened by the Customer with CBC to recover such Charges and/or Levies.
- The Customer will not be able to use the Flash Digital Bank Account and the Flash Debit Card after the deactivation of the Flash Account.
- The Flash Digital Bank Account and Flash Debit Card will be closed and cancelled on the closure of a Customer’s Flash Account.
- CBC shall have the right, in its sole and absolute discretion suspend or terminate any one or more of the Flash Digital Bank Account Services, including the Flash Account at any given time and for any reason whatsoever by giving ten (10) days notice or at any time at its discretion without prior intimation.
- The Customers liability with regards to any transaction done prior to the closure or suspension of any one or more of the Flash Digital Bank Account including the Flash Account, will continue until such time such transactions are concluded.. On termination, CBC reserves the right to prohibit the customer to access the Flash Digital Bank Account Services, including without limitation, by deactivating the User Credentials and to refuse future access to the Flash Digital Lifestyle Services.
- CBC reserves the right, in its sole and absolute discretion without liability to the Customer or any third party, to impose general practices and limitations concerning the use of the Flash Digital Bank Account Services, including to restrict access to some or all of the Flash Digital Account
- In the event that the Flash Digital Bank Account is terminated for any reason OTHER THAN for breach of the Terms and Conditions by the Customer or contravention of applicable laws and regulations (including but not limited to anti money laundering legislation) by the Customer, CBC will disburse any funds lying to the credit of the Customer’s Flash Digital Bank Account (less any Charges or Levies) by way of a transfer to such account as may be specified by the Customer (any costs relating to such transfer being borne by the Customer) or in cash where a Customer personally visits any branch of CBC.
- In the event the Flash Digital Bank Account is closed by reason of breach of the provisions of the Terms and Conditions by the Customer or by reason of contravention of applicable laws and regulations (including but not limited to anti money laundering legislation) by the Customer, CBC will be entitled to withhold payment of funds in the Customer’s Flash Bank Account until the completion of any investigation and/or prosecution conducted in relation thereto and/or make payments in such manner as may be prescribed by a regulatory authority. CBC may at its absolute discretion without prior notice cancel the Customer’s access to the Flash Digital Bank Account System and/or refuse to provide access to the Customer to create a new Flash Account in the future, if CBC is of the view that the Flash Digital Bank Account System is being used for illegal or unauthorized activities and/or purposes.
- In the event that the Flash Digital Bank Account is closed all Flash debit cards will get automatically cancelled.
The Customer hereby indemnifies, defends and holds harmless CBC and its subsidiaries and other affiliates, and its and their directors, officers, owners, agents, co-branders or other partners, employees, information providers, licensors, licensees, consultants, contractors and other applicable third parties (including without limitation, Merchants, other financial institutions and other Customers) (collectively "Indemnified Parties") from and against any and all claims, losses, demands, causes of action, debt or liability, including without limitation reasonable attorneys fees and costs incurred by the Indemnified Parties arising out of, related to, or which may arise from:
- the Customer’s use of the Flash Digital Bank Account Services;
- the Customer’s negligence or default in using the Flash Digital Bank Account Services;
- any breach or non-compliance by the Customer of any of the Terms and Conditions;
- any dispute or litigation caused by the Customer’s actions or omissions; and/or
- the Customer’s violation or alleged violation of any applicable laws or rights of a third party.
16. Disclaimers and Limitations of Liability
- The Flash Digital Bank Account Services, including all content, software, functions, materials, and information made available or , provided in connection with or accessible through the Flash Digital Bank Account System, are provided "as is." Basis. To the fullest extent permissible by law, CBC and its subsidiaries and other affiliates, and their agents, co-branders or other partners, including but not limited to, device manufacturers (collectively, " CBC parties"), make no representation or warranty of any kind whatsoever for the services or the content, materials, information and functions made accessible by the software used on or accessed through the Flash Digital Bank Account System, or for any breach of security associated with the transmission of sensitive information through the Flash Digital Bank Account System. Each CBC party disclaims without limitation, any warranty of any kind with respect to the services, non-infringement, merchantability, or fitness for a particular purpose. The CBC parties do not warrant that the functions contained in the Flash Digital Bank Account System will be uninterrupted or error free. The CBC parties shall not be responsible for any service interruptions, including, but not limited to, system failures or other interruptions that may affect the receipt, processing, acceptance, completion or settlement of payment transactions, person to person payments or the Flash Digital Bank Account Services.
- The CBC parties are not responsible for the accuracy of any information relating to any Payment Instrument, including, without limitation, whether such information is current and up-to-date. Without limiting the generality of the preceding sentence, the Customer expressly acknowledges and agrees that such information is reported by the issuer as of a particular time established by the issuer and may not accurately reflect the Customer’s current transactions, available balance, or other account or program details at the time they are displayed to the Customer through the Flash Digital Bank Account System or at the time the Customer makes a purchase or redemption. The Customer may incur fees and other charges as a result of such transactions and/or or the Customer’s attempt to make a purchase or redemption may not be successful.
- In no event shall any CBC party be responsible or liable to the Customer or any third party under any circumstances for any indirect, consequential, special, punitive or exemplary, damages or losses, including but not limited to damages for loss of profits, goodwill, use, data, or other intangible losses which may be incurred in connection with any CBC party or the Flash Digital Bank Account System, or any goods, services, or information purchased, received, sold, or paid for by way of the Flash Digital Bank Account System, regardless of the type of claim or the nature of the cause of action, even if CBC party has been advised of the possibility of such damage or loss. In no event shall CBC parties total cumulative liability arising from or relating to the Terms and Conditions exceed the value of the Payment Transaction relating to the claim.
- The Customer acknowledges that he accepts these Terms and Conditions relying on the limitations of liability stated herein and that those limitations are an essential basis of the bargain between CBC and the Customer . In addition to and without limiting any of the foregoing, the Customer acknowledges that no CBC party shall have any liability for any failure or delay resulting from any condition beyond the reasonable control of such party, including but not limited to governmental action or acts of terrorism, earthquake, fire, flood or other acts of God, labor conditions, power failures and internet disturbances.
- Incorrect entries to the Flash Digital Bank Account may be reversed, corrected or cancelled by CBC through a further entry (“reverse entry”), whether prior to or after the issue of the next periodic balance statement. With respect to the calculation of interest (or other return), CBC will effect the entries retroactively as of the day on which the incorrect entry was made.
- The Customer agrees with the following special terms and conditions governing the
- Remittances/drafts in foreign currency from the Flash Bank Account will be dispatched entirely at the risk of the Customer.
- CBC will normally convert the remitted funds into the currency of the remittance on the day such funds are actually received by CBC, at CBC’s selling rate. However, the dates of conversion and transfer are entirely at CBC’s discretion.
- In the event of a cancellation of a remittance, a refund will be made only on the basis of the amount actually received from the correspondent bank, and at CBC’s buying rate on the day of the refund. CBC will be entitled to obtain a reimbursement from the Customer of the expenses so incurred on itself and its correspondents or agents. All cancellation charges, levies and commissions collected are not refundable.
- CBC will not be liable for any loss or damage due to delay in payment or in giving advice of payment, loss of items in transit or otherwise, mutilation, error, omissions, interruption or delay in transmission or delivery of any items, letter, or actions of CBC’s correspondents or agents.
- The Customer will enter into each foreign currency transaction with full awareness that foreign currency transactions could involve foreign exchange risks for which CBC will not be liable.
- If CBC is holding funds due to the Customer arising from a transaction processed using
any service described herein, and CBC is unable to contact the Customer and has no
record of the Customer’s use of the service for a period determined by applicable law,
CBC may be required to report and ultimately handover these funds to regulators such as
the Central Bank of Sri Lanka as unclaimed or abandoned property. CBC reserves the right
to deduct a dormancy fee or other administrative charges from such unclaimed funds, as
permitted by applicable laws.
- The Flash Bank Account is deemed to be dormant when there has been no Customer
originated activity in the account for twenty four (24) months or if for any other
reason CBC considers dormant classification appropriate. CBC may prior to re activating
a dormant account at the request of the Customer, interview the Customer and obtain
clarification regarding the dormant status and the Customer will provide such
clarifications to CBC or else CBC will provide 14 days notice prior to de-activating the
Flash Bank Account Services.
CBC may at its discretion require the Customer to submit to CBC, documents specified by CBC, prior to re-activating the dormant Flash Digital Bank Account.
In the event the Flash Bank Account is classified as dormant, CBC will have the right to
refuse transactions on such account, including payment of cheques drawn on such account,
until it is satisfied that such dormant status should be removed.
- Subject to and in accordance with applicable laws (in particular Section 544 of the Civil Procedure Code), the Customer may nominate a beneficiary to claim and be transferred or paid all monies lying to the credit of the Customer’s Flash Digital Bank Account (after the payment of all outstanding fees and charges) on the death of the Customer.
- The reporting and payment of any applicable taxes arising from the use of the Flash Digital Bank Account System shall be the Customer’s responsibility. The Customer shall comply with any and all applicable tax laws in connection with the use of the Flash Digital Bank Account System.
- CBC reserves the right, in its sole and absolute discretion to change, modify or amend any portion of these Terms and Conditions at any time, with or without notice to the Customer.
- CBC reserves the right, in its sole and absolute discretion to alter or modify the Flash Digital Bank Account at any time, by notice to the Customer.
- The Customer hereby authorizes and consents to CBC recording and/or disclosing information regarding the Customer, any transactions of the Customer and/or any Payment Instruments, for such purpose/s, as CBC in its sole discretion deems fit.
- The Customer may not assign the Flash Digital Bank Account or any rights or obligations under the Terms and Conditions, by operation of law or otherwise, without CBC’s prior written approval and any such attempted assignment shall be void. CBC reserves the right to freely assign the Terms and Conditions and the rights and obligations hereunder, to any third party without notice or consent. Subject to the foregoing, these Terms and Conditions shall be binding upon and inure to the benefit of the parties hereto, their successors and permitted assigns.
In addition to the above terms and conditions the following Terms and Conditions will
apply to Flash ATM facility.
The customer acknowledges and agrees that;
- At all times the Automated Teller Machine (ATM) Card is the property of the CBC and to surrender it unconditionally and without reservation upon demand by the CBC.
- At no time to use or attempt to use the Card unless there are sufficient funds in the card holder’s account to cover the withdrawal or transfer.
- Not to use or attempt to use the Card after any notification of its cancellation or withdrawal has been given to the customer by CBC or by any person acting on behalf of CBC.
- CBC will not be responsible for the Card not being honored for any reason whatsoever.
- If no longer required or in the event of a closure of the customer’s account with the CBC to return the Card to CBC for cancellation.
- All Card transactions effected in currencies other than Sri Lankan Rupees will be debited to the Card Account after the conversion into Sri Lankan Rupees at a rate of exchange determined by the exchange rate adopted by Visa/MasterCard International on the date of conversion, plus an additional percentage levied by the CBC and any transaction fee(s) charged by Visa Card International from CBC.
- Cash and/or cheques deposited to the account through the Card will only be credited to customer’s account after verification by the CBC. The statement issued by the ATM at the time of deposit will only represent what I is purported to have been deposited and shall not be binding on the CBC. The CBC’s count of the amount contained in the envelope shall be final and conclusive.
- Cheques will be accepted for collection only and the proceeds will not be available for drawing until the cheques are cleared and realized.
- The customer undertakes not to use the card to make payment for purchases of real estate or financial assets overseas.
- Other than these Terms & Conditions imposed by the CBC on the usage of the Card, the customer will also be governed by the rules and regulations imposed by both VISA Card International on the usage of the card.
- The following Declaration is made by the Customer to the Controller of Exchange, Sri Lanka :-
I declare that all details given above by me on this Form are true and correct. I herby confirm that I am aware of the conditions imposed under the Foreign Exchange Act No; 12 of 2017 and the notice published in the Extraordinary Gazette No: 1411/5 of 19th September 2005 subject to which the card may be used for transactions in foreign exchange and I hereby undertake to abide by the said conditions.
I further agree to provide any information on the transactions carried out by me in foreign exchange on the Card issued to me, as Commercial Bank of Ceylon PLC may require for the purpose of Foreign Exchange Act. I also confirm that I undertake to surrender the Card/s to Commercial Bank of Ceylon PLC, if I migrate or leave Sri Lanka for employment abroad. I am aware that the authorized dealer is required to suspend availability of foreign exchange on EFTC if reasonable grounds exist to suspect that unauthorized foreign exchange transactions are being carried out on the EFTC issued to me.
Further place for the customer to sign has to be provided since this Declaration is given to the Controller of Exchange and not to the bank.
Flash Digital Bank Account Terms & Conditions v1.3 31052018