i-Banking

i-Banking

Information

The Limassol Cooperative Savings Bank has been offering the “internet banking” service, since November 2007.

 

The “internet banking” service is offered to the Organisation’s customers free of charge, 24 hours a day, quickly, easily and securely. 

 

 Banking services provided through Internet Banking: 

•Information regarding Accounts and Accounts Balance 


•Display and printout of detailed account statement 


•Money transfers to own accounts or to third parties’  accounts held  with the Limassol   Cooperative Savings Bank or any other Cooperative Credit Institution or bank in Cyprus


•Payment of Loan instalments


•Credit cards information and credit card payments


•Information on cheques


•Stop Payment on cheque


•Issuance of cheque books


•Utility bills payments

Should you wish to subscribe to this service, contact any of our branches in order to complete the relevant form.

 

The service is provided free of charge.


For additional information, please contact any of our branches.

 

 


 

 

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Terms & Conditions

TERMS AND CONDITIONS- I-BANKING


1. DEFINITIONS
1.1
In the present conditions unless otherwise indicated:

“Account Payment” means the payment of an Account of a Public Organisation or other Account through the transfer of money from one account to the Account of the Approved Beneficiary using the I-Banking Service.

“Account” means an Account of a Client held with the Savings Bank, on which the Savings Bank has agreed that the Client can access through the I-Banking Service (details of the Accounts to which the Client may have access, may be given to the Client from the Savings Bank at the Client’s request).

“Application for Subscription Registration” means the form which is completed and signed by the Client, who submits an application to the Savings Bank for subscription to the I-Banking Service.
“Approved Beneficiary” means a public organization or other legal or natural person, who have been approved by the Savings Bank as the Organization or the person to whom a payment of Account can be made.

“Authorized Person” means any natural person having being authorized in writing by the Client to have access on behalf of him to the Services provided through the I-Banking Service and includes any person whom may be authorized from time to time by the Client either as additional authorized person or in replacement of an existing one, always with a written statement.

“Automatic Service System” means the automatic system which enables the Client to have access and use the I-Banking Service without the assistance of a Clients Service Officer.

“Client” means natural or legal person who is entitled to have access and to use the Automatic Banking Service according to paragraph 2 below and it includes and any authorized person as is determined in the present terms and conditions when acting in his personal capacity.

“Clients Assistance Officer System” means the system, which enables the Clients to have access and to use the I-Banking Service, with the assistance of a Clients Assistance Officer.

“Clients Assistance Officer” means the bank clerk who assists the Client to have access and to use the I-Banking Service.

“I-Banking Service” means the system, which is provided by the Savings Bank from time to time to enable the Clients to have access and use the services provided by the Savings Bank through telephone, the internet or other communication means based in technology.

“Money Transfer” means the transfer of money to and from Accounts in the name of the Client which are held to the Savings Bank or to any other Bank or Cooperative Credit Institution in Cyprus or abroad.

“PIN” means the secret Personal Identification Number which is given and/or created by the Client, according to the Instructions of Use, for use by the Client together with the Client’s Subscription Number. It is understood that the use of the Personal Identification Number is equivalent and has the same force with the signature of the user.

“Savings Bank” means the Limassol Cooperative Savings Bank Ltd.

“Services” means the services provided from time to time by the Savings Bank, to which the Client may have access and use through the I-Banking Service in order to:
• obtain information about his accounts
• execute money transfers
• make payments for the benefit of third Approved Beneficiaries
• make use of any other Services which the Savings Bank may offer through the I-Banking from time to time. 

“Subscriber’s Number” means the number, which is provided by the Savings Bank to the Client to be used by him in connection with the PIN to be granted access to the I-Banking Service and to render him capable to effect transactions through this Service.

“Terms and Conditions” means the present terms and conditions as amended, expanded or replaced from time to time by the Savings Bank and are communicated to the client according to paragraph 16 below.

“Working Day” means the day on which the Savings Bank is open for general banking transactions in Cyprus and a “Non-Working Day” shall be interpreted accordingly.
1.2 In the present terms and definitions interpretation any reference to the single will include the plural as well and vice-versa and reference to any gender shall include and the other gender as well. 
 
2. ACCESS TO THE SERVICE
2.1 The I-Banking Service is offered to the Account Holder and/or the user according to the terms, the instructions of use, as well as any other terms and/or regulations which the Savings Bank will decide from time to time and communicate to the user in any such manner it deems proper.  Access to and use of the I-Banking Service may be granted to Clients who:
• have completed and submitted  to the Savings Bank an Application for Registration and have received from the Savings Bank a Subscription Number evidencing the Savings Banks approval  of the Client’s Application for Registration and
• have received and/or created the PIN according to the Operation Procedures.
The Savings Bank may, at its absolute discretion, refuse to accept the Application for Registration, without it being bound to give reason for its non-acceptance.
2.2 The above conditions govern the use of the I-Banking Service and the Client will be bound by them.
2.3 The Client undertakes to comply fully with the present Conditions (which aim to minimize the danger of unauthorized use of the I-Banking Service) and to indemnify the Savings Bank as regards any damage or loss that may occur as a result of the client’s non-compliance with those Conditions and the Instructions of Use. The Savings Bank in none situation will be liable towards the Client for any direct, indirect or other damage or any loss of data or loss of profit which the Client suffers or may suffer.


3. CLIENT’S OBLIGATIONS AND SAFETY
3.1 The Client agrees to:
• take all necessary precautions to avoid a malicious use of his Subscribers Number and of the PIN
• keep the Subscription Number and the PIN in a safe place
• to destroy any notice for his Subscription Number as soon as he receives it.
• not to disclose his Subscription Number or the PIN to any other person.
• to avoid the use of information which can easily be detected such as birthday dates, telephone numbers etc as PIN
• not to write the PIN on anything that can be carried or is connected with the Subscription Number in a way that it could be revealed or otherwise be available to any third person. 
• not to make or omit to take any other action which may allow the irregular or unauthorized access or use of the I-Banking Service. He is responsible for the disconnection and deletion of any information from any telephone device, computer or other equipment that is being used for access to the I-Banking Service, before he moves away or leaves unattended such telephone or computer or equipment.
3.2 The Client shall notify immediately the I-Banking Service at the address: Gladstonos 97, 3032 Limassol, Cyprus, telephone no: 25 856000 begin or if calling from abroad to Cyprus: +357 25 856000 in case:
• The Subscription Number or the PIN is disclosed to other unauthorized person.
• Unauthorized or irregular transactions have been filed in any of his accounts.
• The Subscription Number or the PIN or any note or other document which bears the Subscription Number or the PIN is lost, stolen or being copied.
• The Client after such telephone notification is obliged as within reasonable time to notify in writing the Service.
The Client is obliged to check carefully the transactions and the statements of his accounts and notify the Service immediately in case of disputes.
Until the I-Banking Service is notified, the Client is liable for all unauthorized or irregular transactions but his liability is limited to the whole amount of One Hundred Seventy One Euro (EUR 171) or to any other amount which may be determined by Law. It is understood that the Client is liable for all transactions made by any person who knew the Subscription Number and/or the PIN and was acting with the verbal or ostensible authorization of the Client. The Client will be liable for all transactions made without any restriction as regards the amount, if he acted maliciously or serious negligence. There is presumption of serious negligence in case the Client has acted in breach of the safety conditions contained in terms 3(1) and 3(2). 
3.3 If the Client has notified the Savings Bank according to paragraph 3.2, then neither the Subscription Number nor the PIN will be able to be used for access or use of the I-Banking Service. If the Client wishes to continue benefit from the I-Banking Service, then he will have to submit to the Savings Bank an application for the issue of a new Subscription Number and PIN.
3.4 The Savings Bank may, without being obliged to, record or audit telephone conversations for reasons of security and training and to keep standards of services quality.
3.5 The archives of the I-Banking Service, including the records and/or the transcripts which are made according to the above paragraph, will be able to be used as evidence in any dispute and will constitute conclusive proof and evidence. The Client agrees not to object to the acceptance of such archives as evidence in any court procedure for the reason that they are not originals or they are in a form other than written or they are the product of a computer. 


4. AUTHORIZATION TO THE SAVINGS BANK
4.1 The Client authorizes and gives order to the Savings Bank to act on the basis of all the instructions and orders received through the I-Banking Service provided that the instructions and orders are verified as to their authentication from the Subscription Number and the PIN. Even though the Savings Bank may from time to time demand other additional evidence of personal identification, it will not be obliged to do so and it can act on the basis of those instructions and orders, without taking additional meters to secure that the instructions or orders are authentic.
4.2 A Clients Assistance Officer when providing assistance for access and/or use of the I-Banking Service, may refuse to act according to any instruction or order for information through the I-Banking Service, if the Clients Assistance Officer believes or deems that the access to and/or the use of the I-Banking Service is made in an irregular or unauthorized manner. The Savings Bank will not be liable for any omission of the Clients Assistance Officer to act so. Instructions or orders received through the Automatic Service System are usually subject to automatic process. However, if during such process the Savings Bank believes that the instruction or order is irregular or unauthorized, or exceeds a certain value or determined limits, it may terminate or refuse to execute such instruction or order. The money limits and/or values are shown on the application and on the web-site of the Savings Bank.
4.3 The Savings Bank is not obliged to cancel or amend any instruction or order received through the I-Banking Service. At the Client’s request, the Savings Bank will make reasonable efforts for cancellation or amendment before the execution of any order or instruction, but it will bear no liability if it does not do so.
4.4 The Savings Bank may refuse to act on the basis of any instruction or order, until it is verified in writing and signed by the Client.     


5. OBLIGATIONS OF THE CLIENT
5.1
The Client will provide and will keep at his own expenses, a telephone line, computer or other equipment, which is necessary for access to the I-Banking Service and will secure that such equipment fulfils all technical and other conditions which are determined by the Savings Bank in the Operation Instructions.
5.2 The Client will secure that all instructions given by him to the Savings Bank, through the I-Banking Service are accurate and complete. The Client cannot cancel or change instructions which have been given and when given they will be irrevocable and binding for the Client.
5.3 The Client will pay all fees and charges which are, from time to time, payable for access to and use of the I-Banking Service.
5.4 The Client will immediately notify in writing the Savings Bank for any change of his address. 


6. THE USUAL CONDITIONS CONTINUE TO APPLY
6.1 The I-Banking Service is a method of access and use of the services provided by the Savings Bank. Therefore, except in so far as these conditions provide otherwise, all orders concerning the Accounts and all the terms and conditions which apply to the Accounts remain in full force and application. Specifically it is mentioned that:
• The Client cannot use the I-Banking Service to withdraw money from one account, without providing the notice period required from the terms which apply for the Account. As a consequence, any instruction for transfer of funds, payment of account or other transaction, which results to the withdrawal from account which is received through the I-Banking Service will require from the Client to give withdrawal notice which is required for such account so as to enable the Savings Bank to execute the instructions. Failure of the Client to do so, will have as a result the delay in the execution of his instruction, or at the discretion of the Savings Bank, the imposition of a charge, according to the practice of the Savings Bank which is followed from time to time, payable by the Client to the Savings Bank.
• The Client cannot use the I-Banking Service to create any debt to the Savings Bank or to cause the creation of an overdraft or the excess of any overdraft or other limit in current or other account. As a consequence, any instruction for Transfer of Funds, Accounts Payment or other transaction resulting to the withdrawal from an account and is received through the I-Banking Service will require that the Client has sufficient balances in the Account or a sufficient overdraft or other disposable balance in his Account so as the Savings Bank will be able to execute the instruction.

• The Client accepts that money transfers for the benefit of third parties are executed under the condition that those are acceptable by the third person. If the third person does not accept the transaction, the money transfer will be cancelled and the Client will be notified.


7. PROCESSING OF TRANSACTIONS
7.1. The Savings Bank intents that the instructions and orders received through the I-Banking Service be processed as soon as possible, within reasonable limits. According to this policy, it is the intention of the Savings Bank (subject to any suspension of provision of Services according to paragraph 8.1) to keep the following schedules regarding the processing of transactions.
• Instructions received before 13.00 of any working day will be processed on the same day.
• Instructions received after 13.00 will be processed on the next working day.
• Money Transfers may reach the account of the Approved Beneficiary on the day during which the instruction was given or on the next working day.
• Payments of Accounts will require at least 2 working days to reach the Account of the Approved Beneficiary.
However, failure to comply with these schedules shall not imply any liability on behalf of the Savings Bank as towards the Client.
7.2. A Clients Assistance Officer may terminate a telephone conversation made by a Client if the behaviour of the Client is improper or if the Client involves the Officer to offensive or non-serious orders. 


8. PROVISION OF SERVICES
8.1
Even though the Savings Bank wishes to have the Automatic Service System at the disposal of the clients 24 hours a day, there will be instances where for technical reasons, safety reasons, labour unrest, administrative reasons or for any other reason beyond the control of the Savings Bank, some or all services normally provided through the I-Banking Service will not be provided. Therefore, the Savings Bank may, from time to time and without having any liability towards the client, suspend temporarily any or all the Services.
8.2 In accordance with the provisions of paragraph 8.3. and 16 below, the Savings Bank will be entitled to terminate forever the I-Banking Service provided that it will give 30-day notice to the Clients.
8.3 The Savings Bank may from time to time, by complying with the provisions of paragraph 16 below and provided that it will give 30-day notice to the Client, to add, withdraw, suspend, modify or otherwise change all or any Services that are accessed and used through the I-Banking Service. Details for the Services provided from time to time will be given to the Instructions of Use. The Savings Bank may amend, complement or replace the Instructions of Use from time to Time.


9. FEES AND CHARGES
The Savings Bank will be entitled to collect fees and to charge the Clients for the transactions which are being effected through the I-Banking Service with the amounts which are shown on the web-site of the Savings Bank. The Savings Bank may review the above fees; the circumstances for their imposition and the manner are imposed to the Account and/or impose additional fees and/or charges in accordance with the present agreement. Any other new charge or increase will be communicated to the Client 30-days prior to its application. The Client, upon receiving the notification, has the right to terminate this agreement pursuant to paragraph 16.


10. ACCOUNT BALANCE INFORMATION
The balance of a loan account provided through the I-Banking Service may not represent the total amount which is required for the full repayment of the specific loan account.


11. LIMITS IN THE TRANSACTION AMOUNTS
The Savings Bank reserves the right to limit the frequency and the amount of the transactions which are made for safety reasons. The maximum limits may be altered and new limits may be introduced by the Savings Bank at its absolute discretion.


12. DEATH OF CLIENT
Despite death or incapability of a Client, the Savings Bank will be allowed to provide all required information and to execute all instructions given through the I-Banking Service with the use of the Subscription Number and of the PIN until the Savings Bank receives a proper written notice for such death or incapability.


13. JOINT ACCOUNTS
13.1
“Joint Account”. When an account is held in the Savings Bank from one or more Clients and the order for the Joint Account allows the Savings Bank to act on the basis of instructions given from one of the holders of the account then the access may be made through the I-Banking Service with the written consent of the holders of the account.
13.2 If the Savings Bank is notified in writing for a disagreement between the holders of a Joint Account, the Savings Bank may forbid withdrawals from the Joint Account and, at its discretion; it may not allow any transactions regarding this Joint Account until the Savings Bank receives new written order from all the holders of the account.


14. TERMINATION
14.1
The Savings Bank may terminate the right of any Client to have access and use of the I-Banking Service by sending  him a notice by mail, by fax, by e-mail or by telephone or in any other way (electronic or otherwise).
• At any time provided that a 30-day notice will be given to him.
• Immediately in the event of breach, non-execution or non-compliance by the Client with Terms or Conditions of the Instructions of Use or of any other agreement with the Savings Bank.
• Immediately in the event of bankruptcy, or other contractual incapability of the Client.
• Immediately in the event of death of the Client.
14.2 The Client may terminate the use of the I-Banking Service at any time with a written notice or via telephone to the I-Banking Service at the number or address which is determined in the present terms.


15. DISCLOSURE OF INFORMATION
15.1
In accordance with the provisions of Paragraph 14.2, information concerning the Client will not be disclosed by the Savings Bank, except upon the explicit consent of the Client or where it is obliged or allowed by Law.
15.2 Information provided from the Client in the Application for Registration will be kept by the Savings Bank, except if the Client has indicated the contrary in the Declaration for the Processing of his Personal Data and/or  in the Application for Registration, and may be used for purposes of advertising to the Client  of products and services provided by the Savings Bank, except if the Client has indicated the contrary in the Application for Registration, the Client consents to such use for the purposes of any legislation which may be enacted regarding  the Protection of Data (as this may be amended or replaced from time to time) or otherwise.


16. AMENDMENT OF THESE CONDITIONS
The Savings Bank reserves the right at any time to complement or amend the present Terms according to market conditions, best banking practices, provided products, the policy of the Savings Bank, capability of the systems, relevant laws or for any other reason which will be communicated to the Client at the time he receives the notification for such amendment. The amendment will be applied immediately if it is for the benefit of the Client and the Client will be notified within 30 days. If the amendment is neither in the benefit nor to the expense of the Client the notification will be made at least 30 days before its application. The Client will reserve the right within a period of 60 days to terminate the present agreement in accordance with the provisions of the terms of the present agreement. 


17. LAW APPLICABLE – JURISDICTION
The present conditions will be governed from and will be interpreted according to the Laws of the Republic of Cyprus and the Client is submitted to the jurisdiction either of the Courts of Cyprus or is committed to Arbitration which the Client accepts upon signing the present application according to articles 52 of the Cooperative Societies Law.

 

Όροι και Προύποθέσεις Εξερχομένων Εμβασμάτων SEPA μέσω της υπηρεσίας IBanking


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