Transaction Notifications Clause Samples
Transaction Notifications. 31.1 We will provide Transaction Notifications that fulfil the following criteria to you that we have been instructed to send, in respect of all transactions (of any amount) made to or from your account (“Notifiable Transaction”).
(a) the Transaction Notification will be sent to your contact address. If you have provided more than one contact address to us, the Transaction Notification will be sent to every contact address selected by you to receive such notifications.
(b) the Transaction Notification will be sent on a real time basis for each transaction or on a batched basis at least once every 24 hours to consolidate every notifiable transaction made in the past 24 hours. We may but are not obligated to send both real time notifications and daily batched notifications to you.
(c) the Transaction Notification will be conveyed to the Account Holder by way of SMS or email. An in-app notification will be accompanied by an SMS or email notification that meets the deadline in sub-paragraph (b) above.
(d) the Transaction Notification will contain the following information, but we may omit any confidential information provided that the information provided to you still allows you to identify the transaction as being an authorized transaction or Unauthorized Transaction: (i) information that allows you to identify the Protected Account such as the Protected Account number; (ii) information that allows you to identify the Recipient whether by name or by other credentials such as the Recipient’s account number; (iii) information that allows us to later identify you, the Protected Account, and the recipient account such as each account number or name; (iv) transaction amount; (v) transaction time and date; (vi) transaction type; (vii) if the transaction is for goods and services provided by a business, the trading name of the merchant and where possible, the merchant’s reference number for the transaction.
Transaction Notifications. When you carry out an electronic funds transfer (EFT) through Stanbic IBTC mobile banking platform, a notification is sent via SMS or email to your registered contact details provided during account opening or as updated by you during running your account with the Bank. This notification will include the details of the transaction and its status - Successful, Processing, Pending or Failed. Electronic funds transfers initiated through the platform are processed in real-time. However, processing times may vary due to factors such as the receiving bank's processing schedule and network availability. You will be notified of any delays or issues that may affect the timely completion of your transaction. If your transaction is marked as "pending," it means that the request has been received and is being processed. Pending transactions may require additional time for completion, particularly if initiated outside of regular banking hours or during peak transaction periods. You will be notified once the transaction status changes. If a transaction fails, you will receive an immediate notification detailing the reason for the failure. Common reasons for failed transactions include insufficient funds, incorrect recipient details, or network issues. Instructions on how to rectify the issue and re-initiate the transaction will be provided. Once your electronic funds transfer has been successfully completed, a confirmation message will be sent to your registered mobile number and/or email address. This confirmation will include the transaction reference number, amount transferred, date and time of the transaction, and recipient details.
Transaction Notifications. 3.1 The Account Holder shall be required to provide the Bank with valid, complete and accurate contact details of the designated contact person for his Account (the “Account Contact”) (including the Account Contact’s Singapore mobile number and electronic mail address) for the purposes of enabling the Bank to send transaction notifications relating to payment transactions from the Account Holder’s Account (“Transaction Notifications”) to the Account Contact.
3.2 The Account Holder shall be required to promptly inform the Bank of any errors in or changes to the contact details of the Account Contact. If the Account Holder fails to comply with this Clause or if the contact details provided to the Bank on the Bank’s records are not valid, complete or accurate, the Bank shall not be responsible for any loss, damage or other consequence which the Account Holder may suffer as a result of not receiving any Transaction Notification.
3.3 Transaction Notifications may be sent to the Account Contact via email or SMS.
3.4 The Account Holder shall ensure that the Account Contact shall be able to receive Transaction Notifications on any of his devices used to receive any Transaction Notices.
3.5 The Account Holder shall be responsible for monitoring all Transactions Notifications sent to the Account Contact.
3.6 The Account Contact shall be responsible for all fees and/or charges that may be imposed by his service provider in connection with the receipt of any Transaction Notification.
3.7 The Account Holder acknowledges and accepts that the Transaction Notifications do not constitute a binding record of any payment transaction relating to his Account. The Account Holder shall continue to be responsible for monitoring the balance of his Account at all times and to check all entries in the statement of account (physical or electronic), and/or confirmation advice and/or passbook.
3.8 The Account Holder further acknowledges that each Transaction Notification is not encrypted and may include details of the transaction effected using his Account. The Account Contact shall be responsible for the security of any of his devices used to receive any Transaction Notification. The Bank shall not be liable in any way to any person should any Transaction Notification be viewed or accessed by any person other than the Account Contact.
3.9 The Account Holder shall comply with and shall procure that all Authorised Persons and the Account Contact comply with the security instructions or ...