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Terms of Service

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Effective Date: 1 January 2025  |  Last Updated: 1 January 2025

1. Acceptance of Terms

By accessing or using the services provided by My Bank ("we", "us", or "our"), including our website, mobile applications, and banking products, you agree to be bound by these Terms of Service. If you do not agree to these terms, you must not use our services. These terms constitute a legally binding agreement between you and My Bank.

2. Eligibility

To use our services, you must:

  • Be at least 18 years of age (or the age of majority in your jurisdiction)
  • Have the legal capacity to enter into binding agreements
  • Provide accurate, current, and complete identification and personal information
  • Not be prohibited from using banking services under applicable laws
  • Comply with all applicable Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements

3. Account Registration and Security

When you open an account with My Bank, you agree to:

  • Provide truthful and accurate information during registration and maintain it up to date
  • Keep your login credentials, passwords, and security details confidential
  • Enable multi-factor authentication where offered for enhanced security
  • Notify us immediately of any unauthorised access to or use of your account
  • Accept responsibility for all activities that occur under your account

We reserve the right to suspend or terminate accounts that violate these terms or that we reasonably suspect are involved in fraudulent activity.

4. Banking Services

My Bank provides a range of banking and financial services, including but not limited to:

  • Savings accounts, current accounts, and fixed deposit accounts
  • Credit cards and debit cards
  • Personal loans, home loans, vehicle loans, and other lending products
  • Fund transfers (domestic and international)
  • Foreign exchange services
  • Online and mobile banking platforms

Each service may be subject to additional terms, fees, interest rates, and conditions as specified in the relevant product documentation. Service availability may vary by jurisdiction.

5. Fees and Charges

Our services may be subject to fees including but not limited to account maintenance fees, transaction fees, card annual fees, late payment charges, and foreign exchange margins. A complete schedule of fees is available upon request and on our website. We reserve the right to modify fees with 30 days prior notice to you.

6. Transactions and Payments

By initiating a transaction through our services, you authorise My Bank to process the transaction on your behalf. You agree that:

  • All transaction instructions are deemed authorised once submitted through authenticated channels
  • You will maintain sufficient funds to cover all transactions, fees, and charges
  • We may decline transactions that exceed your available balance or credit limit
  • Processing times vary by transaction type and may be affected by weekends and bank holidays
  • International transfers are subject to exchange rate fluctuations and correspondent bank charges

7. Intellectual Property

All content, trademarks, logos, software, and materials on our website and applications are the property of My Bank or our licensors and are protected by intellectual property laws. You may not reproduce, distribute, modify, or create derivative works from our content without prior written consent.

8. Prohibited Activities

You agree not to use our services for:

  • Money laundering, terrorist financing, or any illegal purpose
  • Fraud, identity theft, or misrepresentation
  • Circumventing security measures or accessing other users' accounts
  • Transmitting viruses, malware, or harmful code
  • Violating any applicable local, national, or international law or regulation

9. Limitation of Liability

To the maximum extent permitted by law, My Bank shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising from your use of our services. Our total liability for any claim shall not exceed the fees paid by you in the 12 months preceding the claim. This limitation does not apply to liability that cannot be excluded by law.

10. Indemnification

You agree to indemnify, defend, and hold harmless My Bank, its officers, directors, employees, and agents from any claims, liabilities, damages, losses, and expenses arising from your breach of these terms, misuse of our services, or violation of any applicable law.

11. Dispute Resolution

Any disputes arising from these terms or your use of our services shall first be addressed through our internal complaints procedure. If unresolved, disputes may be escalated to the relevant financial ombudsman or regulatory authority. These terms shall be governed by and construed in accordance with the laws of the jurisdiction in which My Bank is registered.

12. Modifications to Terms

We reserve the right to modify these Terms of Service at any time. Material changes will be communicated via email or prominent notice on our website at least 30 days before taking effect. Your continued use of our services after changes take effect constitutes acceptance of the revised terms.

13. Termination

Either party may terminate the banking relationship by providing written notice. Upon termination, you must settle all outstanding balances, fees, and obligations. We may immediately terminate or suspend services if we believe you have violated these terms or if required by law or regulatory authority.

14. Contact Information

For questions regarding these Terms of Service: