Proxy ID definition
Examples of Proxy ID in a sentence
Any amendment of a Proxy ID and the related records or termination of a Proxy ID after an eDDA setup will not affect that eDDA.
For the avoidance of doubt, a Proxy ID is not intended for verifying eDDA setup.
If an account is terminated as the Default Account by the Customer or by the relevant Participant for any reason (including suspension or termination of the account), the system of HKICL will automatically assign the most recently registered record in the Addressing Service that is associated with the same Proxy ID to be the Default Account.
In the circumstances, the Bank will not be notifying the Customer of any changes to the Proxy ID in connection with the eDDA once it has successfully been set up.
For example, HKICL may require the mobile phone number or email address to be registered as Proxy ID to be the same number or address registered by the Customer as contact information on the Bank’s records at the relevant time.
The Bank has discretion as to whether to offer the FPS Identifier as Proxy ID to the Customer.
The Customer should not request the Bank to register any Proxy ID or set up any eDDA for the Customer and should not initiate any payment or funds transfer using the HKICL FPS unless the Customer accepts the provisions of this Section H.
The Customer acknowledges that keeping the Customer’s Proxy ID, eDDA and all related records up-to-date is critical for ensuring effective execution of payment and funds transfer instructions and for avoiding incorrect payment or transfer due to incorrect or outdated Proxy ID, eDDA or related records.
The Customer is fully responsible for giving instructions and information changes or updates to the Bank on a timely basis for amending the Customer’s Proxy ID (or related records) or any eDDA setup, including without limitation changing the Customer’s Default Account, or terminating any Proxy ID or eDDA.
The Customer is solely liable for and will hold the Bank harmless from any incorrect payment or transfer effected by the Bank and HKICL FPS due to incorrect or outdated Proxy ID or related records.