HANG SENG BANK LIMITED INTEGRATED ACCOUNT TERMS AND CONDITIONS
PART II TERMS AND CONDITIONS FOR ACCOUNTS AND RELATED SERVICES
1.	All Accounts
	1.01	The Bank is entitled to prescribe:
		(a)	minimum and maximum amounts or balances in respect of the opening, operation and closing of accounts;
		(b)	minimum balances required before interest becomes payable on interest-bearing accounts;
		(c)	charges and commissions payable in respect of the operation of accounts (including, without limitation, any account carrying an unclaimed balance which has been transferred to the Bank's unclaimed balance account); and
		(d)	the available periods in the case of term deposit accounts.
	1.02	All payments or credits against monetary instruments are conditional on collection and, if effected prior to collection, shall be reimbursed on demand or reversed immediately in the absence of collection.
	1.03	Withdrawals from any account shall be made by the Customer by Instructions given in such form as the Bank may reasonably prescribe. The Customer may withdraw by cheques if a cheque book has been issued by the Bank for the relevant account. Withdrawal of foreign currency deposit is subject to the Bank's receipt of prior notice of at least 2 business days (excluding Saturdays and bank holidays in Hong Kong or in the country/region where the relevant foreign currency is issued).
	1.04	Deposits are non-transferable and non-negotiable.
	1.05	Alterations to financial instruments presented to the Bank will not be accepted unless they are authenticated by the signature of the drawer.
	1.06	Cheques presented (whether by the Customer or by someone other than the Customer) shall be paid at any branch unless otherwise specified by the Bank.
	1.07	An inward remittance (whether in Hong Kong dollars or in any other currencies) to an account may not be credited to the account on the same day if the related payment advice is not received by the Bank before the relevant cut-off times specified by the Bank from time to time. No interest will accrue on any inward remittance before the funds are actually credited into the account.
	1.08	Interest on interest-bearing accounts shall accrue from day-to-day at such rates as the Bank shall publish and/or display and/or quote in the case of Hong Kong dollar savings account and, otherwise, at such rates as the Bank shall determine. Interest accrued (rounded downward to the nearest 5 cents) shall be credited to the account at such intervals as the Bank may decide or as may be agreed with the Customer. The last day shall be excluded in calculating interest accrued on closing an account.
	1.09	The Bank is entitled to prescribe the foreign currencies in which an account may be denominated and the method of payment in respect of a foreign currency account.
	1.10	Any request for cancellation or reversal of Instructions for payment is subject to the consent of the Bank and such conditions as the Bank may reasonably prescribe.
	1.11	The Bank shall be entitled to close an account if it considers that the account has not been satisfactorily operated or maintained.
	1.12	Any unclaimed balance on a closed account may be transferred by the Bank to the Bank's non-interest bearing unclaimed balance account.
	1.13	Any specific terms agreed between the Bank and the Customer in respect of any transaction shall prevail if they are inconsistent with these Terms and Conditions.
2.	Current Accounts
	2.01	The Bank shall be entitled to pay or reject a cheque which would cause a current account to be overdrawn and, if the Bank permits an overdraft, the Customer shall repay the amount overdrawn on the Bank's demand with interest.
	2.02	The Customer agrees that cheques drawn by the Customer which have been paid may, after having been recorded in electronic form, be retained by the collecting bank or Hong Kong Interbank Clearing Limited for such period specified in the rules relating to the operation of the clearing house and they may be destroyed by the collecting bank or Hong Kong Interbank Clearing Limited after such period. The Customer authorizes the Bank to contract with collecting banks and Hong Kong Interbank Clearing Limited for such purposes.
3.	Term and Swap Deposits
	3.01	Interest is calculated up to but excluding the maturity date. Interest is payable only on the maturity date but, in the case of a deposit of 15 months or more, may be paid at agreed intervals.
	3.02	Interest on a time deposit is fixed for the entire deposit period. Interest on a call deposit will be simple interest accruing from day to day at the call rate specified by the Bank on a daily basis.
	3.03	Where Instructions for automatic renewals of a deposit are given, the interest rate applicable to the relevant type of deposit prevailing on the maturity date will be the rate for the renewal. In the absence of renewal Instructions, the Bank may pay interest on the deposit after maturity at such rate as it specifies.
	3.04	At the request of the Customer, the Bank may at its discretion allow a pre-mature withdrawal of a deposit before the due date. In such an instance, the Bank reserves the right not to pay interest on the deposit. The Bank furthermore reserves the right to recover a handling charge and additional cost (if any) of obtaining funds in the market for the remaining period of deposit, and to recover the loss of the Bank if there is a lack of funds in the market.
	3.05	If a Hong Kong dollar deposit matures on a day which is not a Business Day, the deposit shall be payable on the next Business Day and interest shall be paid up to but excluding that day.
	3.06	If a foreign currency deposit matures on a day on which banks in either the country of the relevant foreign currency or in Hong Kong are not open to the general public for business, the deposit shall be payable on the next succeeding day on which all such banks are so open and interest shall be paid up to but excluding that day.
	3.07	Swap deposits are denominated in United States dollar but payable in Hong Kong dollar and are accepted subject to the Customer signing a foreign exchange contract in the form prescribed by the Bank and to the following terms:
		(a)	the Bank sells United States dollar at the prevailing spot rate on the day when the deposit is placed;
		(b)	the Bank buys United States dollar on the day when the deposit matures at the forward purchase rate prevailing on the day when the deposit is placed;
		(c)	in the absence of maturity Instructions, a swap deposit will be rolled over automatically on maturity as a Hong Kong dollar 24 hours call deposit.
4.	Autosweeping Service
	4.01	The Bank shall determine the Debit Balance at the Cut-off Time on every Business Day. If the Debit Balance does not exceed the Fixed Sum and:
		(a)	at the Transfer Time on the next Business Day, the amount of available cleared funds in the Savings Account reaches or exceeds the Prescribed Sum, then the Bank shall (at the Transfer Time on the next Business Day) automatically transfer the Prescribed Sum from the Savings Account to the Current Account; or
		(b)	at the Transfer Time on the next Business Day, the amount of available cleared funds in the Savings Account reaches or exceeds the Debit Balance but does not reach or exceed the Prescribed Sum, then the Bank shall (at the Transfer time on the next Business Day) automatically transfer an amount equivalent to the Debit Balance from the Savings Account to the Current Account.
	4.02	For the avoidance of doubt, if the conditions set out in Clause 4.01 of this Part is not fulfilled, the Bank shall not effect the transfer pursuant to Clause 4.01 of this Part.
	4.03	Notwithstanding the automatic transfer effected by the Bank pursuant to Clause 4.01 of this Part, interest shall accrue on the Debit Balance from the date the Current Account was overdrawn to the date of full repayment thereof at the same rate(s) as applicable to the OD Protection and/or any unauthorized overdraft (as the case may be).
	4.04	The Customer acknowledges and agrees that it is his duty from time to time to monitor and maintain sufficient available cleared funds in the Savings Account to enable all applicable Instructions, obligations and liabilities on the Savings Account owed to the Bank or any third party (including any autopay or direct debit authorization) to be met and/or discharged taking account of any automatic transfers which may be effected by the Bank from time to time pursuant to the Autosweeping Service.
	4.05	The Bank shall not assume any liability or responsibility to the Customer or any third party for checking or matching any applicable Instructions, obligations and liabilities of the Customer owed to the Bank or any third party on the Savings Account, or for the consequences arising out of or in connection with the provision of the Autosweeping Service including any loss or damage suffered by the Customer or any third party resulting from the lack or insufficiency of funds in the Savings Account to meet and/or discharge any applicable Instructions, obligations or liabilities on the Savings Account.
5.	Direct Debit Authorization
	5.01	The Customer may give Instruction to the Bank from time to time instructing the Bank to set up direct debit authorization for effecting transfers from the Customer's account to that of any designated beneficiary in accordance with instructions received by the Bank from the designated beneficiary and/or its banker from time to time provided always that the amount of any transfer shall not exceed the limit specified by the Customer.
	5.02	The Customer agrees that the Bank shall not be obliged to ascertain whether or not notice of any transfer has been given to the Customer.
	5.03	The Customer accepts full responsibility for any overdraft (or increase in existing overdraft) on the Customer's account which may arise as a result of any transfer.
	5.04	The Customer agrees that should there be insufficient cleared funds in the Customer's account to meet any transfer, the Bank shall be entitled in its discretion, not to effect such transfer but to charge the usual fees and charges prescribed by the Bank and, where the Bank has reasonable grounds for doing so, cancel the relevant direct debit authorization.
	5.05	The direct debit authorization shall remain in effect until any expiry date specified by the Customer or cancelled or varied by the Bank or the Customer pursuant to these Terms and Conditions.
	5.06	The Customer agrees that any Instruction to cancel or vary any direct debit authorization shall be given at least three Business Days prior to the date on which such cancellation or variation takes effect.
	5.07	The Customer agrees that the Bank may cancel any direct debit authorization without giving any notice to the Customer or any other person if no transfer has been effected pursuant to the direct debit authorization for more than two years.
	5.08	The Customer agrees to specify clearly the information and particulars which the Bank may require for setting up any direct debit authorization.
6.	Payment Orders
	6.01	Any demand draft or cashier order issued by the Bank according to an Instruction shall be sent to the Customer at the last address of the Customer registered by the Bank by registered post unless the Customer specifically requests to collect it personally or by an Authorized Person. In each case, the demand draft or cashier order shall be sent at the Customer's cost and risk.
	6.02	Any request for amendment, stop-payment, cancellation or refund of a demand draft or cashier order is subject to the Bank's consent and such conditions as the Bank may reasonably prescribe.
	6.03	The Bank is not under any obligation to notify any person upon receipt of a stop-payment request or notice of loss in respect of a demand draft or cashier order.
7.	Certificates of Deposit
	7.01	The Bank may offer CDs pursuant to CD programmes or in any other manner from time to time.
	7.02	The Bank has the right, in respect of each CD issue, to:
		(a)	cancel the issuance of all or any tranches on or before the issue date;
		(b)	extend or shorten the subscription period;
		(c)	determine the total issue amount;
		(d)	allot any issue amount to the Customer which may be less than the amount applied for by the Customer taking account of the total issue amount, the total amount applied for by all applicants and other relevant circumstances, and to refund the balance of the application amount to the Customer without interest as soon as reasonably practicable;
		(e)	specify or vary any time and date on or before which application amounts shall be paid to the Bank;
		(f)	specify the form and denomination of the CD; and
		(g)	redeem all or any tranches of in whole or in part on any interest payment date in accordance with the applicable terms and conditions governing such CD issue.
	7.03	The Customer authorizes the Bank to debit from any of his accounts with the Bank the full application amount in respect of any CD issue together with all fees, charges and expenses at any time after the Bank receives the Customer's application or at such other time agreed by the Customer and the Bank.
	7.04	The Customer authorizes the Bank to open a Sub-account for CD for the purpose of holding any CD allotted by the Bank to the Customer from time to time.
	7.05	The terms of each CD agreed by the Customer and the Bank shall together with the offering document of the relevant CD programme, this Clause 7 and the other applicable provisions of these Terms and Conditions form one single agreement between the Customer and the Bank which governs such CD. In case of any inconsistency, the terms shall prevail, insofar as such CD is concerned, in the following order: (i) the terms agreed by the Customer and the Bank, (ii) the offering document of the relevant CD programme, (iii) this Clause 7 and (iv) the other applicable provisions of these Terms and Conditions.
	7.06	Interest on a CD shall be calculated up to but excluding the maturity date on the basis of the actual number of days elapsed during the deposit period at such rate and payable at such intervals as the Customer and the Bank may agree.
	7.07	Unless otherwise specified by the Bank, the obligations represented by a CD constitute direct, unsecured and unsubordinated obligations of the Bank ranking pari passu with all other unsecured and unsubordinated obligations of the Bank except any obligations which may be preferred by mandatory provisions of any applicable law.
	7.08	The Customer does not have the right to terminate or redeem any CD before its maturity date.
	7.09	The offering document of each CD programme shall be available for inspection during the subscription period upon request.
	7.10	There may not be a secondary market for trading any CD issued by the Bank. Where there is a secondary market, the market price of a CD may fluctuate due to changes in market conditions (including movements in prevailing interest rates, changes in the perceived credit standing of the Bank or in the market for any similar deposits or instruments), and may therefore be higher or lower than the original issue price of the CD. Selling the CD in the secondary market instead of holding it to maturity may result in a loss. The Customer should carefully consider whether subscribing or purchasing a CD is suitable in light of the Customer's financial position and investment objectives. The Bank has no obligation to quote a price for any CD to enable the Customer to sell his CD to the Bank before its maturity. Even where a price is quoted by the Bank, it may due to market conditions be substantially lower than the price initially paid by the Customer for the CD.