This policy was last updated May, 2021.
Terms of Use / Privacy Policy
Kindly read these terms and conditions carefully. The following terms and conditions govern your access and use of this website and network of websites, which belong to Bloom Loans.
These terms and conditions also govern the content and services offered to you through the Site(s). By accessing, using, printing, installing, or downloading any material from any of the Sites, you agree to be bound by these Terms and Conditions.
Acceptance
These terms and conditions of use become effective when the user accesses this site for the first time and constitute a binding agreement between Kenya Commercial Bank Limited and/ or its subsidiaries or affiliates, as the case may be and the user.
Links to Third Party Sites
This site may contain links to web sites controlled or offered by third parties. Bloom Loans hereby disclaims liability for, any information, materials, and products or services posted or offered at any of the third party sites linked to this web site. By creating a link to a third party web site, Bloom Loans does not endorse or recommend any products or services offered, or information contained on that web site and is merely providing these links to you only as a convenience, nor is Bloom Loans liable for any failure of products or services offered or advertised on those sites. Such third party may have a privacy policy different from that of Bloom Loans and the third party website may provide less security than the Bloom Loans website.
User’s Liability to Bloom Loans
The user shall be liable to Bloom Loans for any liabilities, losses or expenses incurred by Bloom Loans as a result of any breach by the user of these terms and conditions.
Use of Materials and Information
The information and materials contained in these pages, and the terms, conditions, and descriptions that appear, are subject to change. Unauthorized use of Bloom Loans web sites and systems including but not limited to unauthorized entry into Bloom Loans systems, misuse of passwords, or misuse of any information posted on a site is strictly prohibited. Your eligibility for particular services is subject to final determination by Bloom Loans.
Intellectual Property Rights
This web site contains copyright and other intellectual property including logos and other graphics and multimedia works belonging to Bloom Loans.The user is authorised to view and download, copy to a local hard drive or disk, print and make copies of such printouts, provided that:
The material is used for considering use of the online services and for no other commercial purposes.
Any reproduction of our proprietary material from this site or portion of it, must include Bloom Loans’s copyright notice in its entirety.
The logos and trademarks shown on this site are Bloom Loans’s registered and unregistered trademarks, or that of third parties.
All content included on the Sites, including but not limited to text, graphics, photographs, video and audio clips, streaming data, animation, images, downloadable materials, data compilations and software is the property of the Bloom Loans or its content suppliers and is protected by applicable copyright and trademark laws.
Nothing on this site should be construed as granting any licence or right to use any trademark without Bloom Loans’s prior written permission and/or that of third parties, as the case may be. The user may not, without Bloom Loans’s prior written consent, use Bloom Loans’s intellectual property or that of third parties for any purposes whatsoever.
No Warranty
The information and materials contained in this site, including text, graphics, links or other items are provided ‘as is’ and ‘as available’. Bloom Loans does not warrant the accuracy, adequacy or completeness of this information and materials and expressly disclaims liability for errors or omissions in this information and materials. No warranty of any kind, implied, expressed or statutory including but not limited to the warranties of non-infringement of third party rights, title, merchantability, fitness for a particular purpose and freedom from computer virus, is given in conjunction with the information and materials.
We do not warrant or represent that access to the whole or part(s) of this website, the materials, information and/or functions contained therein will be provided uninterrupted, timely, secure or error-free or that any identified defect will be corrected, or that there will be no delays, failures, errors or loss of transmitted information, that no viruses or other contaminating or destructive properties will be transmitted or that no damage will occur to your computer system. The user understands and agrees that any material and/or data downloaded or otherwise obtained through the use of the Sites or any of the materials contained therein is done at the User’s own discretion and risk. If the Users use of the Sites or the Material results in the damage and need for servicing or replacing equipment or data, we shall not be responsible for those costs and the user will solely be responsible for any such damages. If the Material is provided by third parties, we shall not be held responsible for any such third party material.
The materials, information and functions provided in the Sites shall not under any circumstances be considered or construed as an offer or solicitation to sell, give, issue or as the giving of any advice in respect of any form of investment or other securities, loans, or deposits in any jurisdiction. The User shall be responsible for evaluating the quality, adequacy, timeliness and usefulness of all services, content, advice, opinions and other information obtained or accessible through the Sites; further the User should seek professional and/or legal advice at all times and obtain independent verification of the materials and information provided herein prior to making any investment, business or commercial decision based on any such materials or information.
Amendments to these conditions
Bloom Loans may at its discretion amend these conditions from time to time without notification to the user. By accessing this site the Users are bound to the version of the terms and conditions published at the time of any visit to this site. The User agrees to view the current version each time that this site is visited.
The current version of these conditions will govern the respective rights and obligations of Bloom Loans and the User each time the User access this site.
Capacity to enter into agreements
The User hereby warrants to Bloom Loans that the User has the required legal capacity to enter into and be bound by these terms and conditions.
Minors must be assisted by their legal guardians when reading these terms and conditions.
Sending of information
Information transmitted through an unsecured link over the Internet, including e-mail, is subject to potential unlawful access or monitoring.
The User accepts that Bloom Loans cannot be held liable for any loss, or damage suffered by the User as a result of unlawful activities by unscrupulous persons, as Bloom Loans cannot prevent such behaviour.
Disclaimer and limitation of liability
The use of this site and the online services is entirely at the User’s own risk. The User assumes full responsibility for the risk or loss resulting from the use of this site and the User’s reliance on information contained on it.
In no event will Bloom Loans be liable for any damages, whether direct, indirect, special, incidental, or consequential whatsoever relating to the User’s use of this site or the online services or the information contained on this site or the User’s inability to use this site or the online services, whether such damages arose out of contract, or delict or otherwise and regardless of whether Bloom Loans was expressly advised of the possibility of such loss or damage.
Without derogating from the generality of the above, and to the extent legally permitted, Bloom Loans will not be liable for:
Any interruption, malfunction, downtime, off-line situation or other failure of the site or online services, Bloom Loans’s system, databases or any of its components, beyond Bloom Loans’s reasonable control;
Any loss or damage with regard to the user’s data or other data directly or indirectly caused by malfunction of Bloom Loans’s system, third party systems, power failures, unlawful access to or theft of data, computer viruses or destructive code on Bloom Loans’s system or third party systems; programming defects;
Any interruption, malfunction, downtime or other failure of goods or services provided by third parties, including, without limitation, third party systems such as the public- switched telecommunication service providers, internet service providers, electricity suppliers, local authorities and certification authorities; or any event over which the Bloom Loans has no direct control.
Access to this Web Site is at the User’s own risk. If a User is dissatisfied with any of the contents of the Sites or these Terms and Conditions, a User’s sole remedy is to discontinue use of this site.
Third party Information
Bloom Loans may use the services of other third party organisations to provide information on this site. Bloom Loans has no control over the third party information and makes no representations or warranties of any nature as to its accuracy, appropriateness or correctness. Bloom Loans will not be directly or indirectly liable for any damages that may arise from the User’s reliance on it.
Indemnity
The User undertakes to defend, indemnify and hold harmless the Bloom Loans, its independent contractors and agents, from and against any and all claims, actions, liabilities, costs, or demands, including without limitation legal and accounting fees, for all damages directly, indirectly, and/or consequentially resulting or allegedly resulting from the users authority including without limitation to governmental agencies, use, misuse, or inability to use the Sites or any of the Materials/Contents contained therein, or the Users breach of any of these Terms and Conditions or any intellectual property right or proprietary right infringement claim made by a third party against the Bloom Loans in connection with the User’s use of this website. Bloom Loans shall notify the User of any such claim or suit, and the User shall be responsible for its defence. The Bloom Loans may participate in the defence of such claim or defence but is not obligated to do so.
Governing Law and Jurisdiction
These terms and conditions and all matters arising out of or relating to these Terms and Conditions shall be governed by and are to be construed in accordance with the laws of Kenya, excluding any conflict of law provisions. By accessing this website and/or applying for the products or services provided herein by the Bloom Loans, you hereby consent to the exclusive jurisdiction of the Kenyan courts in all disputes arising out of or relating to the use of this website.
General provisions
The headings of the clauses in the conditions is provided for convenience and ease of reference only and will not be used to interpret, modify or amplify the terms of the conditions.
No failure or delay by Bloom Loans to exercise any of Bloom Loans’s rights will be construed as a waiver of any such right, whether this is done expressly or impliedly, nor will it affect the validity of any part these terms and conditions or prejudice our right to take subsequent action against the user.
If any provision of these terms and conditions is found to be invalid by any court having competent jurisdiction, the invalidity of such provision shall not affect the validity of the remaining provisions of these terms and conditions, which shall remain in full force and effect.
Copyright in the pages and in the screens displaying the pages, and in the information and material therein and in their arrangement, is owned by Bloom Loans unless otherwise indicated.
General Terms and Conditions
1. Introduction
1.1. Your agreement with us is contained in these general terms and conditions, the additional conditions and the application form signed by you.
1.2. The additional conditions include our charges and the interest rates, notice periods, minimum or maximum balances and other features for the particular type of account. We will tell you these when you open your account or apply for a new service. They are also set out in brochures which are available at your branch and which you can ask for at any time.
Where these general conditions are inconsistent with the additional conditions, the additional conditions shall prevail.
We can change this agreement from time to time in terms of clause 12.
1.3. In this agreement “you” and “your” mean any customer operating an account and includes (where appropriate) any person you authorize to give instructions on your accounts. “We”, “us” and “our” mean BLOOM LOANS.
2. Contacting each other
2.1 We may contact you in person or by post, telephone, fax or by computer (which in this agreement includes any form of electronic communication) or where suitable arrangements have been put in place, using the latest address or number you have given us. You agree to tell us of any changes or additions to these details.
2.2 You can contact us at the address and telephone number shown on your statement or through our twenty four hour Contact Centre, unless we specifically give you a different address or telephone number to use for a particular service.
2.3 We may record or monitor telephone calls between us so that we can check instructions and make sure that we are meeting our service standards. Our records are conclusive.
3. Giving us instructions
3.1 You can only give us instructions in person or by post, telephone, mobile telephone, internet, fax or, where suitable arrangements have been put in place, by computer, unless we advise you that instructions may be given in a different way for a particular account or service.
3.2 Before you give us any instructions by telephone, mobile telephone, internet, fax or computer (electronic instructions) we will agree necessary security procedures for authenticating such instructions.
3.3 Electronic instructions:
a) We may act on your electronic instructions from time to time. You hereby confirm your full knowledge and voluntary acceptance of any and all risks associated with such instructions;
b) We shall take all reasonable measures to check or verify authenticity or accuracy of such electronic instructions purporting to have been sent by you.
c) We shall be deemed to have acted properly and to have fully performed all the obligations owed to you notwithstanding that instructions may have been initiated, sent or otherwise communicated in error or fraudulently, and you shall be bound by any instructions on which we may act if we have, in good faith, acted in the belief that such instructions have been sent by you.
d) We may, in our absolute discretion, decline to act on or in accordance with the whole or any part of an instruction pending further enquiry or your further confirmation (whether written or otherwise). We shall, however, not be under any obligation to decline to act in any case, and shall in no event or circumstance be liable for not so declining.
e)You confirm that you shall release from and indemnify us against all claims, losses, damages, costs and expenses howsoever arising in consequence of, or in any way related to our acting in accordance with the whole or any part of any of your instructions or having exercised (or failed to exercise) the discretion conferred upon us.
f) You acknowledge that, to the full extent permitted by law, we shall not be liable for any unauthorized drawing, transfer, remittance, disclosure, any activity or any incident on your account by the fact of the knowledge and/or use or manipulation of your password, ID or any means whether or not occasioned by your negligence.
3.4 If we receive several instructions at approximately the same time the total amount of which exceeds the available assets of or the credit granted to you, we may honour the orders on a first come first served basis.
3.5 You must do all that you reasonably can to make sure that the security procedures, codes and Personal Identification Numbers (PINs) are kept secret at all times. If you make a written record of any code or PIN you must make a reasonable effort to disguise it and not keep it with your card or your mobile telephone. In the case of mobile Banking, you must change your PIN on first use.
3.6 You must tell us as soon as you can if any card issued to you is lost or stolen, or if you think someone else may know the security procedures, codes or PINs. Until you tell us, you will be responsible for all instructions that we receive and act on even if the instruction may not have been given by you. Unless we can show that you have been fraudulent, grossly negligent or have broken condition 3.3 we will credit your account with any payments we make after you tell us. We will have no further liability to you. We can ask you for all the information you have about the misuse of security procedures, codes and PINs, which we may pass on to the police if we think that it will be useful.
3.7 We will act on instructions given:
a) on a document bearing your original signature(s); or
b) by telephone, mobile telephone or computer whether or not they were given by you as long as we have followed the security procedures.
3.8 You must provide us with a specimen of your original signature (s), in a form acceptable to us. We will also require the specimen signatures of each Authorised Signatory. We may require a fresh specimen signature in the event of any changes to the name of your account.
3.9 If you give us an instruction by telephone, mobile telephone or computer we may ask you to confirm it under condition 3.7(a).
3.10 We can refuse to act on any instruction if:
a) the instruction is not clear; or
b) we believe that by carrying out the instruction we might break a law, regulation, code or other duty which applies to us.
c) carrying out the instruction would result in there being an unapproved overdraft or any overdraft limit greater than that agreed or sanctioned by us.
3.11 We may ask you to give us written confirmation and co-operation if we have received instructions on your account which were not given by you.
3.12 We may ask you to provide us with any information or document necessary for us to maintain your account in compliance with our ‘know-your-customer’ obligations currently in force or as may be varied from time to time. We may suspend operations on your account if you do not provide us with such information or if your account is not compliant with our ‘know-your-customer’ requirements.
3.13 In the event that you hold the account jointly with others the liability of the account holders shall be joint and several. You also hereby authorize us to pay or deliver to or to the order of the survivors or survivor or the executors or administrators of the estate of such survivor any monies standing to the credit of your joint account.
4. Credits to your account
4.2 If we receive instructions and credits for an account during the opening times on any business day, we will process them all on that day or on the date specified in your instructions. Instructions and credits received after the opening times for a business day will be processed on the next business day. Even though branches may open on the weekend, these days are considered non-business days and instructions received on the weekend will be processed on the next business day. Branch opening times vary and are displayed in each branch.
4.3 Your statement balance will show credits when your branch receives them even if they include cheques which are not “cleared”. To calculate interest we generally treat cheques as cleared when we receive value for them from the relevant bank through the banking system. However, the bank can still return the cheque unpaid, eg. for lack of funds. If it does so, we will debit your account with the amount of the cheque.
4.4 You may make deposits into your account through selected Automated Teller Machines which we shall notify you of through public notices in our branches or by other means that we may deem suitable. We shall advise you of the processes and limitations of using this channel of making deposits through brochures and notices placed at the selected Automated Teller Machines sites and electronic messages displayed on the Automated Teller Machines. However, we shall not be liable to you for any loss or damage that you may suffer as a result of your failure to strictly follow the processes set out in the said brochures, notices and electronic messages or as a result of any delays or errors resulting from any system malfunction outside our control.
5. Interest and charges
5.1 We pay interest on accounts that qualify for interest, or if applicable, charge interest and fees in arrears, by crediting or debiting your account.
5.2 We reserve the right to charge for additional services and to vary interest rates and charges from time to time in accordance with clause 12.
5.3 We will deduct tax on interest before we pay it to you unless we can pay interest without deducting tax under current legislation.
5.4 You shall be entitled to obtain information regarding the transaction charges at your local branch.
6. Statements and transaction alerts
6.1. You will be entitled to one free statement at a reasonable interval e.g. annually.
6.2. Your statement will show all amounts added or taken from your account since the previous statement. You must check your statement carefully and tell us as soon as possible if it includes something which appears to you to be wrong or not made in accordance with your instructions.
6.3. You will be deemed to have approved and accepted the correctness of the statement if you do not object to it within twenty-eight (28) days from its date.
6.4 We will correct any entries we make by mistake to your account as soon as possible after you tell us about them or we notice them.
6.5 We may put messages on your statement to tell you about changes to this agreement.
6.6 We will provide you with statements of your account at such intervals as we shall agree with you at the time of opening your account or after the opening of your account. In the absence of any agreement, we shall provide you with statements at least once a year.
6.7 We will give you the option of whether to receive your statements in paper form or in electronic form. If you choose to receive statements in electronic form, you will be required to adhere to the security arrangements we put in place to protect the confidentiality of your statements.
6.8 We will give you an option to subscribe to our transaction alert service (SMS Alert Service) where you will receive notification on your mobile telephone of any transaction on your account. We may levy a charge for the service, which we shall advise you of at the time of your subscription.
7. Overdrawn Accounts, Amounts Owed to us and Set-Off
7.1 We may, without prior notice, debit any amount(s) credited to your account in error and/or reverse any entry made to your Account in error. We will however not be liable for the consequences of such debits and/or reversals and any amount(s) credited to your Account in error and used by you must be repaid together with all interest accrued thereon within twenty-four (24) hours of demand being made by us.
7.2You shall not be entitled to overdraw on the account, unless the account is a current or transactional account and arrangements for an overdraft have been made beforehand with us. In the event the account does become overdrawn, a letter of demand may be sent to you demanding payment of the overdrawn amount, costs and any outstanding bank fees and charges including interest at any rate or rates as we may determine from time to time but not exceeding the maximum allowed by law. Such interest will be calculated on daily balances and debited to your account on monthly basis.
7.3 If you do not pay the amount so demanded in accordance with clauses 7.1 and 7.2, you will be in breach of the agreement and legal action shall follow, the cost of which shall be debited to any of your accounts.
7.4 We shall, without notification to you, be entitled to use any credit balance in the account or any other account that you may have with us, to set-off any amount you owe to us.
7.5 Without prejudice to the above, in the event that you owe us money, we shall have a general lien over all your property/assets in our possession, including but not limited to cash, goods, securities or valuables deposited for safe custody as security, cheques presented for repayment, bills and any other property movable or immovable charged to secure repayment of any money whether or not that money has been repaid and also over all property which by the general law we have a lien.
7.6 If you are indebted to us in circumstances giving us a right of set off, all securities as set out in clause 7.5 will be held as security for the debt.
7.7 If you fail to pay any accrued debt in full within a period of 14 days from the date of your receipt of a notice/demand for payment, we may without further notice realize your property/assets to discharge the debt. You hereby constitute us as your attorney for purposes of any transaction necessary to facilitate realization of the security. Any part payment made will be accepted strictly on account and without prejudice to our rights.
7.8 Funds in foreign currency which are subject to our lien may be set off against debts or realized at the rate of exchange prevailing at the date of the set off or realization. We will accept no liability for loss and damage caused by exchange fluctuations.
8. Payments abroad
8.1 You may give us instructions to make a payment from a specified account to a beneficiary in another country.
8.2 We will use our sole discretion when deciding the method by which your instructions will be transmitted. We will use as a paying bank either the paying bank nominated by you or any bank of our or another bank’s choice in the country whose national currency is being remitted and/or the country where the beneficiary resides.
9. Responsibility for borrowing
9.1 You are personally responsible for any money owed to us.
10. Our liability to you
10.1 We will be liable to you for any loss, injury or damage resulting from any failure, delay or error in carrying out your instructions (however caused) but our liability will be the lower of:
a) the amount of such loss, injury or damage; and
b) the amount of any interest you did not receive or any interest you have to pay as a result of such failure, delay or error.
10.2 We will not be liable to you if we do not act on your instructions for any reason under condition 3.7 or 10.4 below on current and transactional accounts or if we cannot carry out our responsibilities under these conditions as a result of anything that we cannot reasonably control.
10.3 We will not be liable under any circumstances for any losses which are not direct or which we could not reasonably have foreseen.
10.4 We do not guarantee the availability of any electronic service (which includes telephone, mobile and internet banking and ATM services) and we are not liable if it is unavailable. We may suspend the operation of an electronic service and will notify you of any suspension.
10.5 We will take reasonable care to ensure the security of, and prevent unauthorised access to, our computers.
10.6 If we suffer any losses, costs or other expenses as a result of any breach of this agreement by any account holder, then the account holder will be liable for these.
11. Using information about you
11.1 We will store and process information (including personal and financial information and information which we:
a) obtain from third parties such as joint account holders, credit reference agencies or other organisations; or
b) learn from the way you use and manage your account(s); or
c) learn from the transactions you make or from the payments which are made to your account. We may store and process such information either within or outside Kenya, as may be permitted under Kenyan law. We, and other companies in the same group as us, will use such information to manage your account(s), give statements and provide services, for assessment and analysis (including credit and/or behaviour scoring, market and product analysis), and to develop and improve our services to you and other customers and to protect our interests.
11.2 We may assign and/or transfer all or any of our rights, benefits and obligations under the agreement to any person at any time.
11.3 We, and other companies in the same group as us, may also use such information to inform you (by letter, Telephone, including automated dialing, email or computer) about products and services (including those of others) which may be of interest to you (although other members of the Group will only send marketing material to personal customers and individuals if we have their consent).
11.4 We may disclose information about you to any person in connection with an actual or proposed contract which relates to this agreement. This includes disclosing information under the terms of such contract and such a contract includes the assignment and/or transfer of all our rights and obligations under this agreement.
11.5 For our protection and our customers, we have to follow certain internal procedures when opening accounts. These may include the use of credit scoring, obtaining information from credit reference agencies and the parting of information about you for lending purposes to any company in the same group of companies as us. We may disclose information about you to credit reference and fraud prevention agencies and other organizations, who may record, use and give out information to other lenders and insurers to help other users make assessments for credit and all types of insurance (including handling any claims), for debt tracing and to prevent fraud and money laundering).
11.6 We may give information about you and how you manage your account to people who provide a service to us or are acting as our agents, on the understanding that they will keep the information confidential;
11.7 Other than as provided above, we will not disclose information concerning the account to third parties unless:
a) we are legally compelled by the laws of Kenya or any other country;
b) you ask us to do so or give us permission in writing; or
c) it is in our interest to do so.
12. Changing the terms of this agreement
12.1 We may change the terms of this agreement (including our charges) at any time by telling you about the changes in accordance with the applicable laws and regulations.
12.2 We may at any time suspend the operation of any banking service but we will promptly give you notice if we do so. We may vary the times at which any banking service is available and add to, vary or withdraw any features of any banking service. We will give you reasonable notice of any changes. We will use our reasonable endeavors, consistent with good banking practice, to ensure that if the change is material the notice period we give you is sufficient to ensure that you have an opportunity to withdraw from the service before the change takes place. Unless we tell you otherwise, notice will be given in writing or by publication in the national press or through posters and fliers in our branches
13. Closing your account
13.1 You can close your account by telling us in writing. (In the case of joint accounts, all account holders must sign.)
13.2 If one account holder on a joint account dies, the survivor(s) may withdraw any account balance.
13.3 We can end our banking relationship with you by telling you in writing. We will give you at least 30 days’ notice, unless you are in material breach of this agreement, in which case we may end our banking relationship and close your account without notice and with immediate effect. Upon reasonable notice, we may give you a new account number and/or transfer your account to another branch if we close or combine branches. Any benefit or services we provide in relation to particular accounts will end as soon as your account is closed.
13.4 On closure of your account you will return any plastic cards we have given you, any unused cheques and any computer banking software we have provided. You must repay any money you owe us, including, where applicable, the amount of any cheques, card transactions or any other payment instructions you have made, which have not been taken out of your account.
14. Inoperative and Dormant Accounts
14.1 Your account will automatically be classified as inactive if you do not initiate any transactions on the account for a continuous period of 12 months. We shall make reasonable endeavors to inform you of the intended classification of the account as inactive at least one (1) month before such classification. We shall, no later than seven (7) days from the date of such classification, inform you of such classification by way of short -message text alerts addressed to your last known mobile telephone number.
14.2 Your account will be re-classified as Dormant if it remains inactive for a further period of 12 months, in which case the account balances shall be transferred from the your account to a central account for security reasons.
14.3 You will not be allowed to transact on an inactive or dormant account but we shall, upon your written (e.g letter/email) request, inform you of the procedure to be followed to activate your inactive/dormant accounts.
14.3 We may (including without limitation) apply any one or more of the following conditions to an Account upon its classification as Dormant:
(a) confirm the validity and authenticity of the first transaction reactivating the Account;
(b) suspend the payment of interest (if applicable);
(c) suspend the issuance of Account Statements; and
(d) charge a maintenance fee as we may determine from time to time.
14.4 Accounts that will not have any transactions initiated by you and in respect of which you shall not have communicated with us for a continuous period of five (5) years will be presumed abandoned and transferred to the Unclaimed Financial Assets Authority as such.
15. Freezing of Accounts
We may at any time freeze your account(s) if and so long as there is any dispute or we have doubt for any reason as to the person or persons entitled to operate the same. In this regard, we shall have no obligation to institute interpleader proceedings or to take any step of our own initiative for the determination of such dispute or doubt.
16. General information
These conditions are governed by the laws of Kenya. Any banking terms and conditions implied by such law will also apply to our relationship with you.
17. Your Rights and Duties:
17.1 You confirm that you have been informed and you have understood:-
Our undertaking as to customer account confidentiality;
Account and product features and benefits;
Applicable financial obligations including Bank Charges, fees, commissions, interest, penalties and taxes related to establishment, operation and termination of the account, products and services herein;
Conduct and/or rules and regulations of operating the account;
Query resolution process;
Communication on account status;
Right to a reasonable period to think over the products, services, terms and conditions before acceptance.
17.2 You acknowledge your duty to:-
Keep abreast of account status and make appropriate enquiries within a reasonable time.
Consent to our sharing account information as per legal and regulatory requirements.
18. Complaints
If you want to complain about these terms and conditions or the service you have received, you may do so in person, in writing, by post, fax, email or by telephone. Details of our complaints handling procedures are available on request from any branch or our Contact Centre.
19. Waiver
No failure or delay by us in enforcing or requiring compliance by you with any provisions in these conditions will impair or operate as a waiver of any of our rights or any such provisions nor will it constitute a novation hereof.
20. Communications
20.1 All notices, statements, letters and other communications from us will be sent to your last known address, and the date on our copy of any such communication shall be taken to be the date of such dispatch in the absence of proof to the contrary.
20.2 Any written communication from us to you including but not limited to any notice given pursuant to these Terms and Conditions shall be deemed to have been received by you:
If delivered, at the date and time of delivery;
if sent by post, five business days after posting if sent to a Kenyan address and seven business days after posting if sent to an address outside Kenya (in proving such dispatch by post it shall be sufficient to prove that the letter containing the communication was properly stamped and addressed and put into the Post Office/Courier).
If sent by SWIFT, when the acknowledged SWIFT message is received; and
If sent by e-mail, short message service (SMS) or facsimile (fax), on completion of the transmission.
20.3 We shall not accept liability for damage resulting from losses, delays, misunderstandings, mutilations, duplications or any other irregularities due to transmission of any communication whether to or from you, the ourselves or any third party, by delivery, post, telegraph, telephone, e-mail, SMS or any other means of communication.
20.4 The contact address you specified in the Application Form shall be deemed by us to be your contact address and all communication addressed to you shall be sent to the said address unless another mode of communication is allowed by these terms and conditions. You are required to notify us in writing of any changes to this address.
These General Terms and Conditions and any Specific Terms and Conditions shall be governed by the laws of the Republic of Kenya and the Customer hereby submits to the non-exclusive jurisdiction of the Courts of Kenya.
Specific Account Terms and Conditions
1.1 You can only cancel instructions given by telephone or computer if they are revocable and have not been acted on. If we are able to cancel your instruction we may make a charge.
1.2 We may refuse to make a payment if you do not have enough money in the account at the start of the business day in which the payment is due to be made. In deciding whether you have enough money we take account of any authorised card transactions, any overdraft limit, any cheques we are treating as cleared, any instructions to make payments and regular payments which have not yet been paid from your account. We will tell you if you can make payments from your account against cheques which are not cleared. We do not have to take account of regular credits or any amounts received after we have decided not to make the payment.
1.3 If any cheque you have deposited is returned to us unpaid we will debit your account, whether or not it goes overdrawn and even if we allowed you to make a payment or to take cash against the cheque.
1.4 We will debit each business day the amount of all card transactions processed since the previous business day.
2.1 If you hold a current account you will, on application and upon payment of the requisite charges, be issued with a cheque book. However, no cheque book will be issued to you if you hold a transaction account.
2.2 You must complete cheques so that they are not easy to alter and you must not put a date on your cheques which is after the date of the signature. If you do we will not be liable for any loss to you as a result of us paying a cheque before the date you have put on it. You can stop a cheque before it has been presented to us for payment. We may make a charge for stopping a cheque.
2.3 We may refuse payment of any cheque not drawn on our cheque form.
2.3 Cheque books are issued subject to the following conditions:-
a) You hereby agree to look after and use any cheque book and any cheque form with the utmost care.
b) You further agree to ensure:-
That all uncompleted cheque forms are kept in safe custody at all times.
That you will immediately inform us of the loss, theft or mislaying of any cheque book or any cheque, form or registration slip in the cheque book that has been stolen, lost or mislaid;
That any person preparing a cheque is authorized to do so,
That any cheque is prepared and signed in ink or other indelible writing materials,
That the amount of the cheque is written in such a manner as to prevent any unauthorized addition alteration or deletion of letters or figures,
That any cheque and any alteration is signed by an authorised signatory,
That no uncompleted cheque is given to any stranger or other person who you have no reasonable grounds for believing to be trustworthy; and
c) We shall record a notice from you, if presented in in a form acceptable to us, stopping payment of a cheque. We shall, however, not be responsible if such notice is not acted on otherwise than through negligence. If by reason of negligence a cheque is in fact paid after receipt of such notice, we will repay you upon your proof, to our satisfaction, that the payment has not discharged or partially discharged your liability to any party to the Cheque and upon receipt of an assignment of your rights against all such parties but not otherwise. You shall provide us with all assistance necessary to the enforcement of the assigned rights. If reasonable assistance is not forthcoming or it if is proved that the payment has discharged your obligation, we may re-debit your account with the amount of the cheque together with costs of the action and shall be entitled to be paid this amount. Any notice given to us to countermand payment of a cheque must clearly indicate the cheque number, amount, payee’s name and the account number. You must advise us if a lost cheque which has been stopped is found and a replacement issued.
d) Upon closure of any account you must return to us any remaining uncompleted cheque forms relating to that account and we will return to you the value of any Revenue Stamps reimbursement which we shall obtain in respect of such cheque forms.
2.4 Third party cheques are not payable across the counter except;
Personal – Joint Account:
We will honour and pay cash to the named Payee on condition that the cheque is properly drawn and drawing mandates have been observed.
Impersonal Accounts- e.g. school, church account
Cheques presented for payment by known Agents will be confirmed through callback before payment subject to agreed limits.
You shall additionally be required to provide us with a signed indemnity safeguarding us against losses arising from such payments.
4.1 We may grant you an overdraft facility on opening the account.
4.2 We will tell you the overdraft limit and the interest rate and charges which you must pay and we will confirm these details in writing.
4.3 We may make credit reference agency searches and other enquiries when you ask for any lending product or if we wish to consider increasing your overdraft limit or offering you other products now or in the future. Credit reference agencies make a record of searches and of information we give them under condition 13.5 and these records may be used to prevent further fraud or by other lenders in order to make credit decisions about you and members of your household and for debt tracing.
4.4 If you exceed an agreed overdraft limit we may ask you to make an immediate payment into your account and we may charge our unauthorised interest rate and fees on the amount of the overdraft or excess until either it has been repaid or we have agreed an increased limit.
4.5 Unless we have specifically agreed otherwise with you, we may demand repayment of, or reduction in, your overdraft at any time without notice. Until you repay us in full we will charge interest and fees at the rates set out in the additional conditions both before and after any court order in our favour for repayment.
4.6 We may use any amounts you have in any account with us in any currency to reduce or repay any amounts you owe us on any account (including on card accounts you hold with us, and any other amounts you may owe us), either in your own name or jointly with anyone else. We will tell you if we do this.
Savings Accounts
1.1 Interest shall accrue to the balance on the account, if the account has a credit balance. Interest shall be calculated on the end-of-day balance and shall accrue and be paid into your account on a yearly basis.
1.2 We reserve the right to vary interest rates from time to time and will reasonably endeavour to give prior notice of the changes in the interest rates. If you do not receive such prior notice we will not be prevented from changing the interest rate.
1.3 We reserve the right, subject to current legislation, to charge you withdrawal or overdraft fees. However, we may waive the withdrawal fee if you keep your withdrawals to a maximum of a single withdrawal per quarter for each year.
2.1 You shall not be entitled to overdraw your account.
2.2 In the event that your account does become overdrawn, debit interest shall accrue to the account on the debit balance. The debit interest shall be equal to the maximum unauthorised overdraft rate levied on current account.
Term Deposits
Call Deposits