The Current Account Agreement serves as the foundational document governing the relationship between Indonesian banks and their customers who wish to maintain a current account. This document is essential for compliance with Indonesian banking regulations, including Law No. 7 of 1992 as amended by Law No. 10 of 1998 on Banking and various OJK regulations. It is used when establishing new banking relationships, whether for individual or corporate customers, and covers crucial aspects such as account operation, electronic banking services, security measures, and fee structures. The agreement ensures that both parties understand their rights and obligations while maintaining compliance with Indonesian banking laws, anti-money laundering regulations, and consumer protection requirements.
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1. Parties: Identification of the bank and the account holder(s), including their full legal names and addresses
2. Background: Brief context explaining the purpose of the agreement and the banking relationship being established
3. Definitions: Definitions of key terms used throughout the agreement
4. Account Opening and Operation: Requirements and procedures for opening and operating the account, including minimum deposits and documentation requirements
5. Rights and Obligations: Detailed description of both the bank's and account holder's rights and responsibilities
6. Fees and Charges: General provisions regarding fees, charges, and the bank's right to debit the account for such charges
7. Interest: Terms regarding interest calculation and payment (if applicable)
8. Account Statements: Provisions regarding statement delivery, frequency, and verification procedures
9. Security and Access: Security measures, including PIN/password requirements and customer obligations to maintain security
10. Instructions and Communications: Methods of giving instructions to the bank and how communications will be handled
11. Amendments: Bank's right to amend terms and conditions and notification procedures
12. Termination: Conditions and procedures for account closure by either party
13. Governing Law and Jurisdiction: Specification of Indonesian law as governing law and jurisdiction for disputes
14. Force Majeure: Provisions for circumstances beyond parties' control
15. Privacy and Data Protection: Handling of customer data and compliance with privacy regulations
1. Joint Account Provisions: Additional terms specific to joint accounts, included when the account has multiple holders
2. Electronic Banking Services: Terms for internet and mobile banking services, included when these services are offered
3. Debit Card Services: Terms specific to debit card issuance and usage, included when debit cards are provided
4. Special Category Customer Provisions: Specific terms for premium/priority banking customers or specific customer segments
5. Foreign Currency Transactions: Terms for foreign currency transactions, included for accounts with foreign currency capabilities
6. Standing Instructions: Terms for setting up and managing standing instructions, included if this service is offered
7. Overdraft Facility: Terms for overdraft facilities, included if overdraft services are offered
1. Schedule of Fees and Charges: Detailed breakdown of all applicable fees, charges, and commissions
2. Account Opening Form: Standard form for collecting customer information and account preferences
3. Specimen Signature Card: Form for recording authorized signatures for the account
4. Required Customer Documentation: List of required KYC documents and verification requirements
5. Electronic Banking Terms and Conditions: Detailed terms for electronic banking services
6. Product Information Sheet: Detailed information about account features, benefits, and restrictions
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