1.

DEFINITIONS safeguarding my passwords, access codes, PINS and cheque book

(a) “You” means the account holder named above, where two so that unauthorized persons are unable to gain access to it and to
individuals are named, either or both of those individuals, (b) the fact that neglect of this precaution may be a ground for any
“Accounts” means a current savings or call account maintained consequential loss being charged to my/our account.
with us at any of our branches in Ghana, g) That the Bank is under no obligation to honour any cheques(s)
(c) “Mailing Address” means your mailing address in our records. drawn on this account unless there are sufficient funds in the
(d) 'The Bank” refers to Ecobank Ghana PLC, a banking institution account to cover the value of the said cheques(s). Cheques may be
incorporated in Ghana and having its registered office at 2 Morocco returned to me/us unpaid but if paid, I am/we are obliged to repay
Lane, Off Independence Avenue, Ministerial Area, Accra, Ghana the Bank on demand.
2. ACCOUNT MANDATE h) That any disagreements with entries on my/our bank
I / we (Customer) hereby request and authorize you to open statements will be made by me/us within 15 days of receiving the
account in my/our name and at any time subsequently to open bank statement failing receipts by the bank of a notice of
further accounts as I/We may direct I/we (Customer) hereby disagreement of the entries within 15 days from the date of
undertake: receipt of my/our bank statement, it will be assumed by the Bank
I. To guard against access to my account (s) by unauthorized that the statement as rendered is correct.
person(s) 6. Right to set off; I/We also agree that in addition to any general
II, To act as sole/co-signatory to the account (s) lien or similar right to which you as bankers may be entitled by law
Ill. To notify the Bank immediately there is any change in my/our you may at any time and without notice to me/us combine or
address and other relevant information for the smooth running of consolidate all or any of my/our accounts without liabilities to you
my/our account (s). and set off or transfer any sum or sums standing to the credit of any
3. THE ACCOUNT one or more of such accounts or any other credit, be it cash,
All mandatory KYC documentation must be completed by the cheques, valuables, deposits, securities, negotiable instruments or
customer before the opening of the account. If you do not provide other assets belonging to me/us with you in or towards
the required document during account opening, the account will satisfaction of any of my/our liabilities to you or any other account
be automatically restricted. The customer shall assume full or in any other respect whether such liabilities be actual or
responsibility for the genuineness, correctness, and validity of all contingent collateral and several or joint.
endorsements appearing on all cheques, orders, bills, notes, 7.BANK
negotiable instruments, receipts, or other instructions deposited You may link your mobile money wallet to your Bank subject to
into account. Ecobank Ghana PLC will not be responsible for any charges as may be determined by the Bank from time to time. You
loss of funds deposited with it arising from any future government may download the Banks Mobile App and be requested to change
order, law, levy, tax, embargo, moratorium, exchange restriction or your PIN to your Mobile App. Your PIN is confidential and acts as
any other cause beyond its control. Foreign Currency/Foreign your authorized signature. The Bank shall not be held liable for any
Exchange Account(s) cash withdrawal from my/our account shall losses flowing from your failure to preserve the secrecy of your
be subject to availability. PIN.
4. CHEQUE CONFIRMATION POLICY 8. SMS, E-STATEMENTS, E-ALERT
Ecobank Ghana PLC will subject to review from time to time Mode of Sending Monthly Statements of accounts is via e-mails. I.
confirm all cheques of Ten Thousand Ghana Cedis (GHS 10,000.00) You are responsible for any information given to the Bank. This
and above presented for payment. You may however confirm in means that the Bank would not be responsible for any fraudulent,
advance by informing your Account Officers or Branch Managers duplicate, or erroneous instruction given to us by means of your
when issuing cheques of Ten Thousand Ghana and above as information given.
unconfirmed cheques may not be honoured or paid. This is to ii. The Bank will not be liable for any failure to provide the service or
protect against the use of fake/forged cheques to withdraw to comply with these terms and conditions for any reason that is
money from your account(s). beyond our control.
5. CUSTOMER RESPONSIBILITIES iii. The Bank may, for any valid reason, alter, suspend or terminate
a) To be responsible for the repayment of any overdraft with the service without giving you notice and shall not be liable for
interest and to comply and be bound by the Bank's rules for the doing this.
conduct of a current account receipt of which/we hereby 9. INTERNET BANKING
acknowledge. You understand that giving your Account Number is sufficient
b) That all funds standing to my/our credit are payable on demand confirmation of the authenticity of any instruction given or
only in such local currency as may be in circulation. transaction initiated.
c) To be bound by any notification of change in conditions Therefore, the Bank will assume that any instruction given with
governing the account directed to my/our last known address ore- your Account Number is originating from you. This means that we
mail address and any notice or letter sent to my/our last known will not be responsible for any fraudulent, duplicate or erroneous
address or e-mail address(s) shall be considered as duly delivered instruction given to us or any such transaction initiated by means of
and received by me/us at the time it would be delivered in the your Account Number.
ordinary course of post. Kindly note that the Bank shall not be liable for complying with
d) That if a cheque credited to my/our individual account (s) is instructions given to it if the information is disclosed to a third
returned dishonored, the same may be transmitted to me/us party.
through my/our last known address either by bearer or by post. 1O. DEBIT CARDS
e) That I/We note that the Bank will accept no liability whatsoever a) I / We understand that Ecobank Ghana PLC Card remains the
for funds handed to members of its staff other than the cashiers property of the Bank and I/we will surrender it unconditionally and
(Tellers in the bank premises with the appropriate deposit slip}. without reservation upon demand by the Bank,
f) That my/our attention has been drawn to the necessity of b) I / We may increase the chances of fraud occurring on my/our
account, and the Bank would not be responsible in anyway or convertibility, requisition, involuntary transfer, distraints of
whatsoever for any unauthorized transactions on my/our any character, exercise of military or usurped powers, or other
account during this period. similar causes beyond control.
c)l /We recognize that lam or we are not allowed to give 3. The operation of this account is subject to the general
my/our card to anyone except those involved when doing a conditions for the operation of accounts at Ecobank and the
Point of Sale transaction. The card is owned by the Bank and laws and regulations at any time existing in the Republic of
has been given to me/us in trust and is therefore not Ghana.
transferable. 16. DECLARATION
d) I/We hereby authorize the Bank to debit my/our account I/We hereby apply for the opening of account(s) with Ecobank
directly with all transactions undertaken at the Point-of-Sale Ghana PLC. I/We understand that the information given
terminals or ATM5 with my/our card and I/we take full herein, and the document supplied are the basis for opening
responsibility for these transactions, I/we also agree to accept such account(s) and are accurate and authentic. I/We agree to
the Banks receipt of withdrawals and transactions as be bound by the terms and conditions governing the
conclusive and binding. operations of the account(s).
e) The Bank is authorized to debit my/our account with fees in 17. DATA PROTECTION CONSENT
respect of the Card, for issue, use, and renewal or for providing To enable Ecobank Ghana PLC (“the Bank”), its affiliates and its
the service herein. contracted agents in managing and administering my/our
f) The Bank reserves the right to terminate the services at any account with the Bank, I/We hereby fully authorize the Bank
time without notice to me/us and without any liability and its affiliates and contracted agents, to share all
whatsoever. information relating to me/us and my/our accounts,
g) The Bank and its agents reserve the right to ask for proof of a including, without limitation, any personal information,
Cardholders identity if the Card is presented at its teller reference provided and other credit information maintained
counters or Merchant points. This measure maybe followed with or obtained by the Bank and its affiliates (including those
from time to time for the Bank to protect its esteemed obtained from credit reference agencies). I/We further
customers against any possible fraud. authorize the Bank, its affiliates, and its contracted agents to
h) understand that if I/we fail to collect my/our card(s) after use, store, process, share, disclose and transfer (whether
six months of issuance the Bank will destroy the card. within or outside the jurisdiction concerned) all information
11. TERMINATION (including, without limitation, information relating to the
Either party may terminate this agreement by giving seven debts), relating to me/us, as they shall consider necessary in
days written notice to the other party. However, the Bank may connection with administering my account.
terminate this agreement with or without notice if the
circumstance so warrant. I/We acknowledge and agree that any such sharing or transfer
12. JURISDICTION of information will be on a confidential basis and that the
The operation of this account/relationship is subject to the Bank, its affiliates, or other third- party service providers, may
laws and regulations at any time existing in the Republic of disclose information if required or permitted by any law, rule
Ghana. or regulation or at the request of any public or regulatory
13. DISCLAIMER CLAUSE authority or if such disclosure is required for the purposes of
The Bank disclaims liability for any funds/assets deposited by preventing fraud. This consent does not limit any consent I/We
you which are subsequently found to have been derived from have given (or may give) to the Bank to process or disclose
illegal source or activities. You confirm that the funds/assets my/our personal details, I/We agree that the consent above is
deposited or to be deposited are not derived from any illegal to be read in conjunction with the terms and conditions
source or activities. contained in the Bank's account opening form.
14. AMENDMENTS AND VARIATIONS I hereby apply for the opening of account(s) with Ecobank. I
Ecobank Ghana PLC reserves the right to vary these terms and understand that the information given herein and the
conditions at its discretion without notice to the applicant. documents supplied are the basis for opening such account(s)
15. FOREIGN CURRENCY ACCOUNT AGREEMENT and I therefore warrant that such information is correct and
The undersigned hereby requests you to establish on your documents authentic. I further undertake to indemnify the
b o o k s a n d a c c o u n t c u r r e n t i n Bank for any loss suffered as a result of any false information
____________________________(Hereinafter) called the or error in the information provided to the Bank.
“Account”) and to credit thereto, and such other amounts of
such currency as may from time to time be received by you for DISCLOSURE TO CREDIT REFERENCE BUREAUS: The Bank will
the Account. In order to induce you to establish the Account obtain information about you from the credit reference
and at your option, to maintain it on your books, it is hereby bureaus to check your credit status and identity. The bureaus
agreed that: will record our enquiries which may be seen by other
1. Withdrawals from the Account shall be made only in the institutions that make their own credit enquiries about you.
currency of the Account at the request of the undersigned in The Bank shall also disclose your credit transactions to credit
writing. Such requests may be in the form of a letter duty reference bureaus in accordance with the Credit Reporting Act,
signed in accordance with the mandate for the operation of 2007 (Act 726).
the Account in the form of a cheque” Any charges related to
withdrawals from the Account will be paid by the undersigned
upon demand. 2. You shall have no responsibility for or liability
to the undersigned for any diminution due to taxes or imposts
or depreciation in the value of funds credited to the Account
(which funds may be deposited by you in your name and
subject to your control with such depository (ies) as you may
select or for the unavailability of such funds due to restrictions