Notice of Amendment to “General Account Terms and Conditions”, “ZA Card Terms and Conditions” and “Terms and conditions for use of ZA Card through a digital wallet”

(effective from 30 June 2024)

ZA Bank Limited (“We, us”) are updating our “General Account Terms and Conditions”, “ZA Card Terms and Conditions” and “Terms and conditions for use of ZA Card through a digital wallet” (“Revised Terms”), which will take effect from 30 June 2024. Please read this notice of amendment carefully for the benefit of your protection.

We have outlined the key changes to the Revised Terms (“Amendments”) in the table below for your information. These Amendments are made in order to:

General Account Terms and Conditions (applicable to personal banking and business banking customers):

1. 1. Clarify and specify your obligations regarding payments and fund transfers, and in giving instructions to make payments or effect transactions.
2. 2. Clarify about limitation of our liability and that we are not liable for any delay, unavailability, disruption, failure, error of or caused by any Anti-fraud Database (or any information available on it), or arising from any circumstances beyond our reasonable control, and any risk alert or the processing or execution of funds transfer Instruction affected by a risk alert unless arising directly and solely from our gross negligence or wilful default or that of our officers, employees or agents.
3. 3.  A more accurate description of the terms of a Time Deposit account, including a description of the maturity date of the Time Deposit and instructions for the automatic renewal of the Time Deposit and the annual interest rate.
4. 4. To modify definition of “PIN” and add “Authentication Factors”, and supplement all reasonable precautions and security measures recommended by us for you to secure your Authentication Factors and electronic equipment.
5. 5. To add that we will contribute and receive information from FINEST, which is an information sharing platform operated by HKPF in response to the evolving fraud, mule account and financial crime landscape.

ZA Card Terms and Condition (applicable to individual customers):

1. 1. Regarding the newly added definition of "Authentication Factors" in the "General Account Terms and Conditions", the circumstances and handling of Authentication Factors when using ZA Card are added and supplemented, including the corresponding procedures for the Bank and you when the Authentication Factors have been stolen or lost or Authentication Factors or your card information has been compromised.
2. 2. To supplement all reasonable precautions and security measures recommended by us for you to secure your Authentication Factors and ZA Card.

Terms and conditions for use of ZA Card through a digital wallet (applicable to individual customers):

1. 1. Regarding the newly added definition of "Authentication Factors" in the "General Account Terms and Conditions", the circumstances and handling of Authentication Factors when using ZA Card through a digital wallet are added and supplemented.
2. 2. To supplement all reasonable precautions and security measures recommended by us for you to secure your Authentication Factors.

You can download a PDF version of the Revised Terms via the below links:

• •  General Account Terms and Conditions
• •  ZA Card Terms and Conditions
• •  Terms and conditions for use of ZA Card through a digital wallet

Regarding the amendments related to the “General Account Terms and Conditions”, “ZA Card Terms and Conditions” and “Terms and conditions for use of ZA Card through a digital wallet”, you can download a PDF version through the following link:

• •  Summary of Amendments to the Revised Terms

Words mentioned in this Notice shall have the same meaning as defined in “General Terms and Conditions”, “ZA Card Terms and Conditions” and “Terms and conditions for use of ZA Card through a digital wallet”, where applicable.

You can also find the Revised Terms in the ZA Bank App (tap on your profile picture on the homepage, select “About ZA”) or our website under the “Terms and Conditions” section. 

Please note that the Revised Terms will be legally binding on you if you use or continue to use any of our products or services on or after 30 June 2024. If you do not accept the Revised Terms, you have the right to terminate the account(s), products and services with us according to the relevant provisions under the General Account Terms and Conditions before 30 June 2024.  

Please feel free to get in touch with us through the ZA Bank App if you need any assistance.

ZA Bank Limited