The Account Bank Agreement serves as the foundational document governing the relationship between Indonesian banks and their customers, whether individuals or corporate entities. This agreement is essential for compliance with Indonesian banking regulations, including requirements set by Bank Indonesia and the Financial Services Authority (OJK). It establishes the framework for account operations, electronic banking services, security measures, and regulatory compliance, particularly in areas such as anti-money laundering and customer protection. The document is designed to protect both the bank's and customer's interests while ensuring adherence to Indonesian banking laws and regulations. It becomes necessary when establishing any new banking relationship in Indonesia and must be regularly updated to reflect changes in regulatory requirements and banking services.
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1. Parties: Identification of the bank and the account holder(s), including their full legal names, addresses, and registration details
2. Background: Context of the agreement, including the bank's authority to operate and the customer's intention to open and maintain accounts
3. Definitions: Definitions of key terms used throughout the agreement
4. Account Opening and Operation: Requirements and procedures for opening accounts, authorized signatories, and operational instructions
5. Rights and Obligations of the Bank: Bank's responsibilities, rights to set fees, modify terms, and compliance obligations
6. Rights and Obligations of the Account Holder: Customer's responsibilities, obligations for accurate information, and compliance with banking regulations
7. Fees and Charges: Structure and calculation of fees, charges, and interest rates
8. Instructions and Communications: Methods of giving instructions, notifications, and communications between parties
9. Security and Access: Security measures, access controls, and authentication procedures
10. Statements and Records: Frequency and format of account statements, record-keeping obligations
11. Anti-Money Laundering Compliance: AML/KYC requirements and ongoing monitoring obligations
12. Confidentiality: Protection and handling of confidential information and banking secrecy
13. Termination: Conditions and procedures for account closure and agreement termination
14. Governing Law and Jurisdiction: Application of Indonesian law and jurisdiction for disputes
15. General Provisions: Miscellaneous legal provisions including force majeure, amendments, and severability
1. Electronic Banking Services: Terms for internet banking, mobile banking, and other electronic services if offered
2. Foreign Currency Accounts: Additional terms for foreign currency accounts if permitted
3. Joint Accounts: Specific provisions for accounts held by multiple parties
4. Special Services: Terms for additional services like safe deposit boxes or wealth management
5. Corporate Account Provisions: Additional requirements for corporate customers including board resolutions and authorized persons
6. Islamic Banking Provisions: Specific terms for Sharia-compliant banking services if offered
7. Overdraft Facility: Terms and conditions for overdraft facilities if available
8. Direct Debit and Standing Instructions: Terms for automated payment arrangements if offered
1. Schedule 1 - Fee Schedule: Detailed list of all applicable fees, charges, and interest rates
2. Schedule 2 - Account Opening Forms: Standard forms required for account opening and KYC documentation
3. Schedule 3 - Specimen Signatures: Format for recording authorized signatures and verification procedures
4. Schedule 4 - Electronic Banking Terms: Detailed terms and conditions for electronic banking services
5. Schedule 5 - Required Regulatory Disclosures: Mandatory disclosures required by Indonesian banking regulations
6. Appendix A - Service Level Standards: Operating hours, processing times, and service standards
7. Appendix B - Security Procedures: Detailed security protocols and procedures for account access
8. Appendix C - Supporting Documents Checklist: List of required documents for account opening and maintenance
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