- HSBC Personal Overdraft
- HSBC Personal Overdraft is an HSBC Personal Overdraft facility available only for sole accounts that is linked to the customer's Personal Everyday Account ("PCI") and debit card. With this overdraft facility, customers are able to debit outside of their available funds in their PCI account, up to the credit limit agreed by the customer and PT Bank HSBC Indonesia ("Bank").
- To qualify for an HSBC Personal Overdraft facility, customers residing in Indonesia of Indonesian or foreign citizenship must pass an initial Financial Information Services System (SLIK) and the National Blacklist (DHN) check, as well as an eligibility check.
- HSBC Personal Overdraft customers are subject to an annual internal Bank review which will determine the customer's eligibility to continue on with their current overdraft facility as well as their credit limit.
- Approval of HSBC Personal Overdraft
- The Bank will only process an HSBC Personal Overdraft application that has been completed with all information, data, and supporting documents required by the Bank.
- The Bank reservers the right, at its sole discretion, to approve or reject a customer's HSBC Personal Overdraft application.
- The Bank reserves the right, at its sole discretion, to unilaterally upgrade or downgrade a customer's credit limit.
- Approval, rejection, closure, and changes relating to the customer's HSBC Personal Overdraft shall be notified by the Bank to the customer via SMS to the customer's cell phone number registered at the Bank.
- Charges and Interest
Definition :
"Due Date" is the latest date at which the customer is required to pay any amount owed to the Bank, minimum in the amount of the interest of the overdraft amount as stated in the HSBC Personal Overdraft Personal Everyday Account statement.In the event that the Due Date falls on a non-business day, then payment has to be made 1 (one) business day after the original Due Date, which would make that date as the new Due Date for that month in accordance with the provisions of these Terms and Conditions.
- Customers shall incur interest on the overdraft amount used by the customer which will be charged on a monthly basis through the PCI account statement.
- Interest is calculated daily on the overdraft amount using the daily interest rate (annual interest rate divided by 365 (three hundred sixty five) days). The interest charged is the accumulated interest that is calculated on a daily basis from the date of generation of the PCI account statement in the last month to the latest date of generation of the PCI account statement.
- The overdraft interest rate is listed in the Bank's official website (www.hsbc.co.id), which may change as per the Bank's discretion with prior notice to the customer.
- If the customer fails to pay the minimum amount of interest that is charged on a monthly basis on the Due Date, at the latest, the customer shall be subjected to a late charge fee, as set out in the Bank's official website (www.hsbc.co.id), which will be automatically charged to the customer's HSBC Personal Overdraft facility through the PCI account statement.
- If any interest, fees and fines cause the customer's account balance over the credit limit, then the customers shall be subjected to a higher rate of interest on the amount which exceeds such credit limit, of which is listed in the the Bank's official website (www.hsbc.co.id).
- Outstanding Amount Payment Process
Definition :
"Outstanding Amount" is the customer's total due amount with respect to their use of HSBC Personal Overdraft facility, including, but not limited to, interest, late charge fee and any other cost which the customer is responsible to pay.
- Outstanding Amount payment can be made by adding funds to the PCI account through all channels available at the Bank by the Due Date at the latest. Payment through ATMs or a clearing service is subject to applicable service charges of the respective bank. If the customer does not pay the minimum amount charged, then the Bank shall impose a late charge fee as referred in Article 3.d. above.
- The minimum amount to be paid is in the form of interest on the overdraft amount used as set forth in Article 3.a. above.
- Payment made through a certain payment method require a certain period of time before being effectively credited to the PCI account. To avoid any late charge fee, customers are obliged to take note of the provision applicable to each payment system.
- Delinquent Customers
- The Bank reserves the right to freeze a customer's PCI account as well as their HSBC Personal Overdraft facility on the first business day after the Due Date, should the customer fails to pay the minimum amount charged by the Due Date. Customers will not be able to debit from their HSBC Personal Overdraft account nor their overdraft facility until they have paid their Outstanding Amount.
- If the Outstanding Amount has not been paid by 90 (ninety) days after the Due Date,
- The Bank reserves the right to require customers to immediately repay the entire Outstanding Amount, including the overdraft amount used, by submitting a written invoice or any other similar letter to the customer.
- If the customer has another HSBC account, be it in Rupiah or in a foreign currency, the Bank reserves the right to automatically debit from such account in order to pay off the full Outstanding Amount, including the the overdraft amount used.
- In reference to the Customer's punctuality in paying their Outstanding Amount, the Customer is subject to be categorised defined in terms of their payment collectibility status as set out in the below table:
| Payment Collectibility Status |
Description |
| Current |
Is a condition where payment of HSBC Personal Overdraft Outstanding Amount is on time and no arrears that exceed the Due Date. |
| Special Mention |
Is a condition where payment of HSBC Personal Overdraft Outstanding Amount is yet to be done between 1 - 89 calendar days after the Due Date. |
| Substandard |
Is a condition where payment of HSBC Personal Overdraft Outstanding Amount is still yet to be done between 90 - 119 calendar days after Due Date. |
| Doubtful |
Is a condition where payment of HSBC Personal Overdraft Outstanding Amount is still yet to be done between 120 - 179 calendar days after the Due Date. |
| Bad |
Is a condition where payment of HSBC Personal Overdraft Outstanding Amount is still yet to be done more than 180 calendar days after the Due Date. |
- Termination of Facility
- The Bank reserves the right, at any time, to terminate the customer's HSBC Personal Overdraft facility and requires the customer to immediately repay the entire Outstanding Amount by contacting the customer through any means deemed appropriate by the Bank, inter alia, in the event that the customer has violated these Terms and Conditions, or in the event that the customer has failed to meet the annual internal Bank check, or in the event that the customer has not paid any of their Outstanding Amount and settled any other obligations to the Bank, even though the Bank has requested the customer to do so.
- Customers are entitled to submit a request to terminate their HSBC Personal Overdraft facility via branch, whereby the customer must immediately repay the entire Outstanding Amount.
- For the purpose of settling all of the customer's obligations to the Bank based on the HSBC Personal Overdraft facility, the customer authorises the Bank to close and/or block the customer's accounts in the Bank (if any) including, but not limited to, Personal Everyday Accounts and/or savings accounts and/or the customer's time deposit and/or debit card in the event of the customer fails to settle their obligations to the Bank with a notification sent by the Bank to the customer related to such settlement.
- For full redemption of the Outstanding Amount, The Bank is entitled to take the following actions:
- calling the customer through mass media such as newspapers,magazines, etc. and/or;
- filing a bankruptcy application of the customer through the Commercial Court and/or;
- request payment of the Outstanding Amount through third parties and/or through any other way deemed appropriate by the Bank.
Customers are responsible for the reimbursement of all fees, charges, and expenses incurred by the Bank, which includes the full legal fees in obtaining the full redemption of the customer's Outstanding Amount.
- The Bank will close the HSBC Personal Overdraft facility after all of the customer's obligations have been settled.
- Power and Authority of the Bank
- Any authorisation conferred by the customer to the Bank under these Terms and Conditions will only be terminated if the customer's HSBC Personal Overdraft facility has been closed and the customer no longer has any Outstanding Amount or obligations to the Bank. For the purposes of these Terms and Conditions, the customer hereby waives the porovisions specified in articles 1813, 1814, and 1816 of the Indonesian Civil Code.
- Transfer of Rights
- Customers may not transfer their rights and/or obligations relating to the HSBC Personal Overdraft facility to any other party except in the case of a transfer of rights referred to in Article 8.c. of these Terms and Conditions.
- The Bank reserves the right to transfer all or parts of its rights and/or obligations with respect to the HSBC Personal Overdraft facility provided to the customer under these Terms and Conditions to other third party.
- In the event of customer's death or the customer falls under guardianship or bankruptcy, or has been been set to delay their debt obligations by the Commerical Court, then:
- The Bank reserves the right to request to be given a deed, certificate, and/or other supporting documents in respect to death, guardianship, bankruptcy or debt obligation delay issued by an authorised official or government agency;
- The heirs, guardians, or persons/parties appointed by a competent authority in connection therewith are fully responsible for the settlement of the customer's Outstanding Amount to the Bank with regard their HSBC Personal Overdraft facility.
- Customer Information
- All information provided by the customer to the Bank with respect to HSBC Personal Overdraft facility (including those provided at the time of application) is true, accurate, and complete in all respects and the customer is not hiding any other factual information.
- Customers are required to notify the Bank of any change regarding home address, office address, home phone number, cell phone number, and/or other information which differs from customer's information recorded in the Bank. Each and every latest customer information recorded by the Bank remains in effect as long as the Bank has not received any notice of change.
- Customers authorise the Bank to disclose any information about the Cutomer and their accounts in the Bank to (i) agents, contractors, or third party service providers in connection with executing the Bank's business; (ii) other third parties whom are business partners of the Bank and are bound by an agreement with the Bank; (iii) the actual or proposed recipient of a transfer of right by the Bank or any participant or sub-participant or recipient of a transfer of rights related to HSBC Personal Overdraft; and (iv) members, affiliation, and subsidiary of any HSBC Group Companies.
- Changes
The Bank reserves the right, at any time, to change these Terms and Conditions. Such changes shall be notified to the customer by 7 (seven) business days at the latest (or any other period as required by applicable laws and regulations) prior to their effective date via a written notice from the Bank or other means/media of communication deemed appropriate by the Bank at the time for a particular purpose. The notice of change will be sent to the last address recorded in the Bank. If within a specified period of time after such notice is sent, and there is no response from the customer with regard to the change, variation, and/or enforcement of the new rules or provisions, the Bank considers the customer to have accepted the change, variation, and/or enforcement of the new rules or provisions. If the customer is unwilling to accept such change, the customer may terminate their HSBC Personal Overdraft facility.
- Applicable laws and dispute resolution
- These Terms and Conditions are subject to and construed in accordance with the laws of the Republic of Indonesia
- With respect to any dispute arising out of or relating to these Terms and Conditions, the customer and the Bank agree to submit to the non-exclusive jurisdiction of the district court which has authorisation over the HSBC branch where the customer submitted their HSBC Personal Overdraft facility application. These terms do not limit the right of the Bank to file any dispute arising in any court or jurisdiction.
- Language Provision
- These Terms and Conditions are made in Bahasa Indonesia and English. If there is a discrepancy or conflict between the Indonesian and English text, then the Indonesian text shall prevail.
Complaints Handling
Should customers have any inquiry, feedback, or complaint relating to the HSBC Personal Overdraft facility, they can directly contact the contact centre number listed in the Bank's official website (www.hsbc.co.id). Any customer inquries, feedbacks or complaints will be dealt with the applicable laws and regulations.
Statement
PT Bank HSBC Indonesia is a financial institution that is registered and supervised by the Financial Services Authority (OJK)
Compliance with Applicable Conditions
THESE TERMS AND CONDITIONS HAVE BEEN ADJUSTED TO THE TERMS OF REGULATIONS CONCERNING THE PROVISIONS ON THE REGULATION OF BANK INDONESIA AND THE FINANCIAL SERVICES AUTHORITY (OJK).
