Term and Conditions

  1. Introduction

    • The Terms and Conditions of using of KB PRASAC Mobile hereinafter referred to as “Terms & Conditions” is an agreement between the Client and KB PRASAC Bank Plc., referred to as “KB PRASAC” in connection with the use of KB PRASAC Mobile.
    • Please carefully read the “Terms and Conditions” before clicking “Agree” to register to use the KB PRASAC Mobile.
    • When you click “Agree”, it means that you have read and accepted all the terms and conditions as per stated on these terms and conditions, and you are fully responsible for using KB PRASAC Mobile.
  2. Key Terms

    • Word “You or Client”
    :  Refers to account holders who have registered to use the KB PRASAC Mobile.
    • KB PRASAC Mobile
    : Refers to KB PRASAC Mobile Application that allows you to open a new account (in case, customer doesn’t have an account) and/or register KB PRASAC Mobile App (in case customer has an existing account) and client can make financial transactions securely on their accounts at anywhere and anytime (24/7), which include transactions: Fund Transfer, Bill Payments, Mobile Top Up, Payment for goods / services, Check Account Balance Loan Submit Request or Open Term Deposit Account, etc.
    • KB PRASAC Mobile Application
    :  Refers to an KB PASAC Mobile Application on mobile phone which allows client to perform financial transactions on his/her savings account anytime (24/7) and anywhere.
    • Account
    :  Refers to any Savings Account that you have opened with KB PRASAC. It can be a Savings Account, Unfixed Deposit Account, Flexi Growth Savings Account, Payroll Account, Merchant Savings Account, Current Account, Premium Current Account etc.
    • Digital Account
    :  is a kind of Savings Account which can be opened by newly client (who doesn’t have an account with KB PRASAC) by him/herself and client can use KB PASAC Mobile to make any transactions immediately.
    • Individual Account
    :  It is an Account which it is opened for personal use and perform transaction as needed.

     

     

    • Individual Single Account
    :  It is an Individual account which it is opened by a single accountholder.
    • Joint Account
    :  It is an Individual account which it is opened by two or more accountholder.
    • PIN
    :  It is a 6-digits Personal Identification Number (Numeric) that is determined directly by you when you register for using KB PRASAC Mobile. This PIN is used to login to KB PRASAC Mobile.
    • OTP
    : It is One Time Password and it has 6-digit number code that is automatically generated by the system and send to your Mobile Phone number to approve the registration for using KB PRASAC Mobile or authorize any financial transactions which perform via KB PRASAC Mobile. This OTP code is valid for one time use only or one transaction.
    • Fingerprint/Facial Recognition
    :  It is a security system of Fingerprint or Facial recognition on Mobile Phone to identify clients when accessing phone or using KB PRASAC Mobile in addition to using a PIN. You can set for accessing your KB PRASAC Mobile with Fingerprint or Facial Recognition unless you have set this security when accessing your Mobile Phone in advance.
    • KHQR Code (Khmer Quick Respond Code)0
    :  It is a QR Code which represents your Account Number or third party’s Account Number. It is used for receiving money or paying goods / services via Scan KHQR Code Function.
    • Cash-Code
    :  It is a type of Fund Transfer from Account to Phone Number, and you will be given a 6-digits code to withdraw cash through KB PRASAC ATM machines or Cash Deposit Machine or KB PRASAC POS (ATM Card is not required).
    • International Fund Transfer
    :  It is a transaction fund transfer to overseas around the world via SWIFT (The Society for Worldwide Interbank Financial Telecommunication).
    • Account Statement
    :  A summary report of banking transactions occurred with your account that you can view and download via KB PRASAC Mobile.
    • Force Majeure
    :  Refers to any event that is unforeseeable and external to the parties, and unavoidable which prevent any party or both parties from performing its obligation as stated in this Agreement such as volcano, flood, earthquake, hurricane, terrorism, riot, war…etc.
  3. Key Functions of KB PRASAC Mobile 
    • Open a Digital Account (New customer who doesn’t have an account with KB PRASAC)
    • Register to use KB PRASAC Mobile by himself/herself for customers who have an account with KB PRASAC (Online Self-Registration) such as:
      • Single Account or
      • Joint Account with account signing condition “Anyone to sign”
    • Open more Savings Account
    • Online Self-Link and Delink Account
    • Fund Transfer between KB PRASAC Accounts
    • Fund Transfer to Other Local Banks
    • Fund Transfer to Bakong Wallet (Intra-bank or Interbank)
    • Cash-Code
    • International Fund Transfer
    • Payment for Goods/Services by scanning KHQR Code (Intra-bank or Interbank)
    • ATM QR Withdrawal
    • ATM QR Deposit
    • Bill Payment of Water, Electricity, Solid Waste, Education, etc.
    • Mobile Top Up
    • Open Term Deposit Account
    • Change Rollover Option
    • Schedule Fund Transfer
    • Schedule Payment
    • Self-hide and Unhide Account
    • Shared Account Information and Deep link for fund transfer
    • Rename account title
    • Reactivation Dormant Account
    • Block Account
    • Repeat and Return Function
    • View KB PRASAC Card
    • Request KB PRASAC Card
    • Self-activate KB PRASAC Card
    • Reset Card PIN
    • Freeze​ and Unfreeze KB PRASAC Card
    • Upload KHQR Code of KB PRASAC or Other Banks which saved in Photo or Gallery for payment
    • Check Balance or Account Statement and Download
    • View Term Deposit Account and Loan Account
    • Download Loan Repayment Schedule
    • Loan Submit Request: Loan Against TD, Smart Loan, Payroll Loan & Loan Submit Request
    • Data Sponsor of Smart and Metfone
    • View Exchange Rate
    • Change PIN for log in KB PRASAC Mobile
    • Self-New PIN Reset
    • View ATM, Merchant & Branches location
    • Create template of Fund Transfer and Bill Payment
    • Other Information or new functions that will be launched in the future, etc.
  4. Opening of Digital Account (new customer who doesn’t have an account with KB PRASAC)

    • Customer can open Digital Account via KB PRASAC Mobile at any time (24/7) and everywhere.
    • Customer shall have the following criteria below:
    • Individual clients aged at least 16 years old
    • Khmer Nationality
    • Having owns personal phone number and smart phone
    • Having an original and valid Cambodian National Identification Card (NID)
    • Provide his/her personal information such as phone number, Full Name, Date of Birth, Sex, NID number, expired date and permanent address
    • Take a Selfie and taking a picture of Cambodian National Identification Card (NID) as per conditions required in the KB PRASAC Mobile App
    • Accept the “Terms and Conditions of using KB PRASAC Mobile”.
      • After self-opening Digital Account successfully, customer will receive two Digital Accounts automatically, which are KHR Account and USD Account.
      • The Customer, who can do self-open Digital Account via KB PRASAC Mobile, is classified as the “Partial KYC” that Account Balance and transaction’s limitation are set based on conditions to use of account bellow:
    • Annual Interest Rate: between 1.50 % to 4.00% based on Account balance
    • Interest Rate is accrued on a daily basis and liquidate monthly.
    • Withholding Tax: 4 %
    • Not required Initial Deposit and Minimum Balance
    • Maximum Deposit Amount per Customer: USD Account 10,000 or KHR equivalent.
    • Transaction Limit via KB PRASAC Mobile per day or per transaction for customer: USD 3,000 orKHR 12,000,000.
      • The Customer can request to change the client classification from “Partial KYC” to “Full KYC” by just visiting at any nearest KB PRASAC branch office following the “Know Your Customer Procedure”.
      • After customer update to “Full KYC”, the customer can fully use his/her account without any limitation on depositing and use KB PRASAC Products and Services based on Terms and Conditions of each products and services.
      • Security & Safety of Opening the Digital Account
    • In the process of opening the Digital Account via KB PRASAC Mobile, the customer will receive a Dynamic Code / One-Time Password (OTP) with 6 digits that system will send it into the phone of the customer (phone number that customer use to register the Digital Account) to approve in account opening.
    • One-Time Password (OTP) will be filled in automatically by not requiring the customer to manually input it by him/herself.
    • KB PRASAC will send SMS to phone number of customers to inform on the Successful Opening Digital Account.
    • The identity document of customer will be verified by the Cambodia Data Exchange (CamDX) to ensure the validity and accuracy of the documents.
      • The deposit into Digital Account can be made by:
    • Deposit via Counter of KB PRASAC branch or
    • Deposit via Cash Deposit Machine (CDM) of KB PRASAC or
    • Transfer via KB PRASAC Mobile or other Banks app or
    • By other means provided by KB PRASAC.
      • Withdrawal or Other Transactions
    • Customer can perform every transaction via KB PRASAC Mobile.
    • In case customer wants to withdraw, he/she can transfer Cash-Code to receive 6 digits code or scan ATM QR code to withdraw cash via KB PRASAC ATM/CDM
    • Customer can do any transactions at KB PRASAC counter or use KB PRASAC Card unless customer requests to upgrade the client classification from “Partial KYC” to “Full KYC” in advance.
      • The Digital Account which has no transaction more than 365 days, will become a Dormant Account, and will charge a monthly fee that is shown on the official KB PRASAC Dormant Account with zero balance will be automatically closed by the system.
      • The request for updating or revising of customer information or authorization in the account (adding more account holders…) or closing account, the customer is required to visit any nearest KB PRASAC branch by obtaining along with his/her original identity document for KB PRASAC Staff to verify.
  5. KB PRASAC Mobile Registration (For customers who have and account with KB PRASAC)

    • Registration Requirement
      • Individual clients aged at least 16 years old.
      • Have a Savings Account with KB PRASAC (Individual Single Account or Joint Account)
      • Must have a Smart Phone running on iOS or Android and a fully licensed phone number under your own name plus phone device and sim card number must be plugged-in together.
      • Require to install KB PRASAC Mobile App on your Smart Phone with a valid phone number officially registered with KB PRASAC at the time of account opening.
      • Require to correctly enter some necessary information such as Account Number, Date of Birth and Phone Number by following our registration guideline.
      • Require to determine your own 6-digit PIN to access KB PRASAC Mobile and/or enable Fingerprint / Facial Recognition to improve your security when login with KB PRASAC Mobile.
      • Agree with Terms and Conditions of using KB PRASAC Mobile.
    • During the process of registration of KB PRASAC Mobile, you will receive a 6-digit (One-Time Password or OTP) sent message from the system to your mobile phone number officially registered with KB PRASAC to approve the registration of KB PRASAC Mobile.
    • After successfully registering, you can use KB PRASAC Mobile to perform all financial transactions by using your savings account which you have used to register the KB PRASAC Mobile.
    • For every login of KB PRASAC Mobile, you can use the phone number (latest phone number provided to KB PRASAC) or e-mail (if the customer does not have phone number) and 06 digits PIN or Fingerprint / Facial Recognition that you set up by yourself when registering for KB PRASAC Mobile.
    • Conditions of using Accounts linked with KB PRASAC Mobile
      • The Access Level of using Accounts linked with KB PRASAC Mobile is divided into 02 types:
        • “Full Access”: is an access level of using Accounts in KB PRASAC Mobile that allows you to do all kinds of financial transactions such as fund transfer, payment, check account balance, View loans information, submit loan request, view exchange rates and other functions.
        • “View Only”: is access level of using Accounts in KB PRASAC Mobile that allows you to check account balance, view loan information, view exchange rate or other information without being able to make any financial transactions (transfer / payment…).
      • An Individual Single Account or Joint Account that has account signing condition “Anyone to Sign” which you use to register for KB PRASAC Mobile will be automatically set as “Full Access” by system.
      • In case you want to update your account access level from “Full Access” to/from “View Only”, you can submit your written request at any nearest KB PRASAC
      • In case you want to link more accounts to your KB PRASAC Mobile, you are allowed to do self-link those accounts (Allow for Individual Single Account and Joint Account with account signing condition “Anyone to sign”) via KB PRASAC Mobile by following the system guideline or can submit your written request at any nearest KB PRASAC
      • In case of requesting to link “Joint Account” which having account signing condition different from “Anyone to Sign” into KB PRASAC Mobile, you are required to submit the written request at any nearest KB PRASAC branch based on each account signing condition you want to link.
      • Term Deposit Account and Savings Plan Account will be automatically linked to KB PRASAC Mobile if its source account is linked to KB PRASAC Mobile.
      • Loan Account will be automatically linked to KB PRASAC Mobile if the borrower or co-borrower has registered to use the KB PRASAC Mobile by linking the savings account for settlement loan in KB PRASAC Mobile.
    • Conditions to Delink Accounts from KB PRASAC Mobile
      • You are allowed to do self-delink your account(s) from KB PRASAC Mobile (For Individual Single Account and Joint Account which has account signing condition “Anyone to sign”) by following the system guideline or may submit your written request to any nearest KB PRASAC
      • Joint Account which has account signature condition different from “Anyone to sign”, you are required to submit the written request at any nearest KBR PRASAC Branch.
  6. Opening more Deposit Account(s)

    • You can open more deposit account(s) via KB PRASAC Mobile and can select the account type as below:
      • Savings Account or
      • Unfixed Deposit Account or
      • Flexi Growth Savings Account or
      • Digital Account or
    • You can select account currency with 2 options as below:
      • Khmer Riel (KHR) and
      • US Dollar (USD)
    • nitial Deposit is not required.
    • Minimum Deposit is not required.
    • The limit of customer deposit amount and perform financial transactions depends on the type of customer as Partial KYC or Full KYC.
    • You can select this account as a source account for opening the Term Deposit Account.
    • You can request to close this account by written request at any KB PRASAC Branches.
  7. KB PRASAC Card Requesting

    • You can use your Individual Single Account or Joint Account (with account signing condition “Anyone to sign”) to apply for a KB PRASAC Card via KB PRASAC Mobile by yourself at anytime and anywhere.
    • You can select either option on Acceptance the KB PRASAC Card as below:
      • Personally pick up at bank or
      • Bank Delivery
  8. Operating Hours

    • Clients can perform transactions via KB PRASAC Mobile within 24 hours a day, 7 days a week (24/7) unless receiving a notice on the service temporary postpone by KB PRASAC.
    • KB PRASAC will notify you in case of any interruption of operation to repair or update the system.
    • KB PRASAC reserves right to postpose operations if any issues arise or prior cases.
  9. Currency and Exchange Rate

    • Financial transaction via KB PRASAC Mobile can be perform in 02 (two) currencies as below:
      • Khmer Riel (KHR) and
      • US Dollar (USD)
    • The transactions with cross-currency will be automatically defined based on the daily exchange rate of KB PRASAC on the date and time of the transaction occurs or according to the exchange rate of beneficiary bank in case of cross-currency interbank fund transfer.
  10. Transaction Limitation and Fee

    • You can perform financial transactions whenever your account has sufficient balance within the transaction limit set by KB PRASAC.
    • You agree to pay for all applicable fees related to the use of and/or any transactions performed via KB PRASAC Mobile and agree to KB PRASAC to settle the fee by debiting directly from your account without any notice.
    • You can find information on fees and/or limit per transaction and per day for each type of transactions on KB PRASAC official website and/or KB PRASAC branches and/or KB PRASAC Mobile.
  11. Push Notification
    You will receive notification via KB PRASAC Mobile once a financial transaction occurs on your account, unless there is a system malfunction.
  12. Other Special Features of Transaction via KB PRASAC Mobile

    • When you enter the wrong PIN or OTP code for 03 times, KB PRASAC Mobile will be automatically blocked. You can contact KB PRASAC at 023/086 999 911 or visit any nearest KB PRASAC branch to request for unlocking.
    • When you enter the information to register for KB PRASAC Mobile or Self-New PIN Reset for 03 times incorrectly, the function of registration of KB PRASAC Mobile or Self-New PIN Reset will be automatically blocked. In this case, you can contact KB PRASAC via 023/086 999 911 or visit any nearest KB PRASAC branch to request for unlocking.
    • For the transfer via Cash-Code, you will receive a 6-digit PIN to withdraw cash from KB PRASAC ATM machine or KB PRASAC POS within 48 If over 48 hours, the transferred amount will be automatically reversed into your account.
  13. Block and Unblock KB PRASAC Mobile

    • You can request to block KB PRASAC Mobile by contacting to Call Center or visiting any nearest KB PRASAC
    • To unblock your KB PRASAC Mobile, you are required to submit your written request at any nearest KB PRASAC
  14. Termination of KB PRASAC Mobile Banking Service
    You are able to terminate your KB PRASAC Mobile Banking Service by submitting your written request at any nearest KB PRASAC branch.
  15. Security Tips of using KB PRASAC Mobile

    • Security on Mobile Phone, Computer or other Devices
      • Please set up your own password or fingerprint / facial Recognition to protect your mobile phone or computer or related devices from unauthorized access.
      • Do not provide or disclose your passwords or let anyone to set up fingerprint / facial recognition or access your mobile phone or computer or related devices, even if he/she is a joint account holder or relative or friend or KB PRASAC’s staffs etc.
      • Do not write your Password for log in mobile phone.
      • Make sure that your password entry to access your mobile phone or computer or related devices are not seen or known by anyone else.
      • Please frequently change the password of your mobile, computer or related devices or in any suspicious case that your password is known by anyone else.
      • Do not use your mobile phone or computer or related devices which connected KB PRASAC Mobile with public Wi-Fi or share with others to avoid fraud from hacker.
      • Do not connect to any system or install unknown application/software on your mobile phone or computer or related devices. In case you connected or installed, please disconnect, or uninstall and clean it immediately to avoid any infection or fraudulent (Virus and / or Hacker).
      • Install KB PRASAC Mobile and regularly update the app from Play Store if you are using Android or App Store if you are using iOS.
      • Do not leave your mobile phone or computer or related devices which is/are connected with KB PRASAC Mobile at public area and immediately lock your phone or computer after stopping using.
      • Please logout or clear history KB PRASAC Mobile when you finished transaction.
      • In case you sell or transfer your mobile phone or computer to another person, you must uninstall KB PRASAC Mobile or other relevant information from your mobile phone or computer in advance.
      • In case of loss of mobile phone or suspicion that anyone knows the password to access your mobile phone or computer, please immediately notify KB PRASAC via 023/086 999 911 to block KB PRASAC Mobile or take other technical process to prevent fraudulence.
    • Security Tips of PIN / OTP and Relevant Information
      • Please remember your PIN and do not write or let anyone else know.
      • Please keep your PIN or OTP and other information secret. Any damage arising out of the negligence of the above confidential information will be your sole responsibility.
      • Do not share or send your PIN or OTP or other information to anyone else, either verbal or via email, Facebook Messenger, Telegram etc.
      • Do not use your date of birth or phone number or account number or ID card number or any number that is easy to remember or guessable (Ex: 111111 or 123456…) as your PIN to login KB PRASAC Mobile.
      • If there is any indication that your PIN Mailer has been torn, please contact nearest KB PRASAC’s Branch immediately.
      • You are required to check and verify the phone number or email address which is printed on PIN mailer upon receiving from KB PRASAC’s Staff.
      • Please change your KB PRASAC Mobile’s PIN when you receive or first log in and immediately destroy any file which contains information related to the PIN.
      • Please ensure that no one is nearby you when you enter your PIN to access KB PRASAC Mobile.
      • Please change your PIN frequently and in case of doubt that your PIN is known by others.
      • You shall determine the PIN to access KB PRASAC Mobile differently from the Password to access your mobile phone.
      • Notify KB PRASAC immediately if you forget your PIN or suspect someone else knows.
    • Fraudulent E-mail and SMS
      • Beware of scamming from phone number, email, website, pop window or message that trick you into entering your important information such as User ID, PIN, OTP, phone number, date of birth or other personal information.
      • KB PRASAC will never ask you to disclose your PIN and/or OTP for accessing to KB PRASAC Mobile, either verbal, phone call, email or by any means.
      • If you receive a hoax email or message or phone call requesting for the above information, please delete or reject it immediately and/or do not click on any link or open any attachment within the email.
      • If you have any question or doubt on any website or email, please contact us via info@kbprasacbank.com.kh or call 023/086 999 911.
  16. Rights and Obligations of the Client

    • You have to ensure that all information provided to KB PRASAC is true and up-to-date. If the information is incorrect, you are fully responsible before the law.
    • You need to check the fees and detailed payment information carefully before confirming the payment in KB PRASAC Mobile. Any incorrect information, account number, limit excess or deficiency shall be your own responsibility.
    • You are fully responsible for using KB PRASAC Mobile. In case there is loss of money in your personal account or account of another person, whether intentionally or unintentionally or by negligence or by any other give it a trial, invasion, data fraud, direct or indirect fraud or involvement with the others, you are responsible before the law of Cambodia.
    • You allow KB PRASAC to settle the payment unconditionally in case of any complaint/claim to be responsible for the losses or any expenditures that KB PRASAC is responsible to as the result of any improper transactions of payment services via KB PRASAC Mobile due to your violation over the terms and conditions of the services including but not limited to failure of any prevention or without permission or fake transaction…
    • You must ensure the security of keeping your mobile phone and other confidential information for accessing KB PRASAC Mobile such as PIN and personal information, etc.
    • You must ensure that you have installed or updated the KB PRASAC Mobile directly from Play Store or App Store and ensure that you use the latest version of KB PRASAC Mobile.
    • You shall notify KB PRASAC in written in a timely manner in case of changing phone number, email, and/or any personal information provided to KB PRASAC. Any loss or delay that may result from failure to notify KB PRASAC is your sole responsibility.
    • You shall not make any illegal transactions or prohibited business activities via KB PRASAC Mobile.
    • You are entitled to verify information in the account statement and ask KB PRASAC if there is the discord of transaction that may arise.
    • In case you have any problems related to the use of KB PRASAC Mobile, you shall immediately notify KB PRASAC via 023/086 999 911.
    • You have to abide by all Terms and Conditions on using of KB PRASAC Mobile.
  17. Rights and Obligations of KB PRASAC

    • KB PRASAC has the rights to review and verify its client background and to request further information from Client if needed. The approval of using this service shall be at KB PRASAC
    • KB PRASAC will implement the transaction instruction via KB PRASAC Mobile, but KB PRASAC will not be responsible in case you enter incorrect information or account number or surplus or deficiency balance etc.
    • KB PRASAC has rights to cooperate with local authorities to investigate, freeze or stop your KB PRASAC Mobile abided by the applicable law/regulation or court order.
    • KB PRASAC will keep your information confidential except with your consent, requirement by law or court order to disclose such confidential information.
    • KB PRASAC reserves right to amend or set up the monthly/annual fees and/or relevant fees for using and/or performing transaction via KB PRASAC Mobile according to conditions of businesses.
    • KB PRASAC reserves right to regularly upgrade the KB PRASAC Mobile to the latest version by:
      • Adding new functions according to market and/or technology trends or
      • Removing or suspending any function if any problem occurs that may affect the Core Banking System or system maintenance or others.
    • In some circumstance, KB PRASAC may persuade you to upgrade your current KB PRASAC Mobile to the latest version in term of security improvement and consistency of using of KB PRASAC Mobile.
    • If KB PRASAC Mobile cannot be operated due to force majeure, KB PRASAC will assist you for solutions or assistance according to the accurate reasons, but will not be responsible for those cases.
    • KB PRASAC has right to suspend transactions when there are problems and necessity.
    • KB PRASAC provides service consultation and reporting of any forgotten PIN or any problem that occurs via 023/086 999 911.
  18. Service Fee, Limitation, Conditions Amendment and Notifications

    • KB PRASAC reserves the right to amend the service fees, limitation, and/or conditions related to KB PRASAC Mobile with prior notice to the Client as required by law.
    • Without written complaint(s) from the Client during the above notice period, it is assumed that you agree and accept the amendment(s) immediately from the effective date of the amendment(s) published through one of below channels:
      • KB PRASAC Office and/or
      • KB PRASAC Official Website and/or Social Media and/or
      • SMS or E-mail
      • Advertisements on newspapers, magazines, KB PRASAC Mobile or other methods chosen by KB PRASAC etc…
    • The Client is assumed that he/she has received a notification immediately after KB PRASAC has publicly announced via any of the above channels.
  19. Anti-Money Laundering and Combating Financing Terrorism
    Accordingly, to the Cambodia Law on Anti-Money Laundering and Combating the Financing of Terrorism, KB PRASAC can postpone or reject any transaction for the Account Holders if KB PRASAC believes that:

    • The suspicion on source of fund.
    • The transactions or the accounts may be directly or indirectly involved with any illegal activities of Cambodian or International Law.
    • Upon court order or National Bank of Cambodia, etc.
  20. Law and Dispute Resolution

    • These terms and conditions are governed under the Cambodian Law.
    • In case of any disputes, both parties have to solve them peacefully. If the disputes cannot be resolved peacefully or outside the court, they have to be solved within the court along with the Cambodian Law.
    • Other issues which not stated in the provisions have to be implemented under the law of Cambodia.
  21. Severability
    Invalidity or unenforceability of one or more provisions of this Terms and Conditions shall not affect any other provision of this Terms and Conditions.
  22. Language
    The Terms and Conditions are made in Khmer and English. In case there is any conflict or inconsistency between the two versions, Khmer language shall prevail.

  1. Term and Conditions

    • The Terms & Conditions of opening Term Deposit Account via KB PRASAC Mobile, hereinafter called “Terms & Conditions” is an “Agreement” between “Client” and KB PRASAC Bank Plc., hereinafter called KB PRASAC in using this service with KB PRASAC.
    • Please carefully read the “Terms and Conditions” before clicking “Agree” to open a Term Deposit Account via KB PRASAC Mobile, hereinafter called KB PRASAC Mobile”.
    • When Client clicks “Agree”, it means that the Client has read, and accepted all terms and conditions stated in this terms and conditions, and is fully responsible for opening and using Term Deposit Account via KB PRASAC
  2. Key Terms

    • The Client
    :  Refers to Account Holder who opens the Term Deposit Account via KB PRASAC Mobile.
    • KB PRASAC Mobile
    Refers to an application on Mobile Phone which allows Client to perform any financial transaction at anywhere and anytime (24/7) such as Fund Transfer, Bill Payment, or open Term Deposit Account etc.
    • Term Deposit Account
    Refers to a type of deposit account that has specific term of deposit and obtains a higher interest rate following each tenor.
    • Source Account
    :  Is a settlement account used to settle the amount of principal when opening or receiving the interest and principal when closing the Term Deposit Account or receiving Monthly Interest. Every transaction occurred over the counter such as open, close, and other requests within the Term Deposit Account will be verified with the Specimen Signature and Account Signing Condition of the Source Account.
    • Joint Account
    Any account jointly opened in the name of two or more persons.
    • Account Statement
    A summary report of banking transactions occurred within account.
    • Rollover Principal Only
    When Term Deposit Account is on maturity date, the interest earned will be credited into the Source Account and the principal balance will be automatically renewed to the next term.
    • Rollover Principal and Interest
    When Term Deposit Account is on maturity date, the interest earned and principal balance will be automatically capitalized, and renewed to the next term.
    • Close on Maturity
    When Term Deposit Account is on maturity date, the account will automatically close, and the interest earned and principal balance will be credited into the Source Account.
  3. Term Deposit Account Opening Conditions
    The Client is required to input the information and select the conditions on Term Deposit Account opening correctly and sufficiently with the following information:

    • Operating Hours

    The Client can open Term Deposit Account via KB PRASAC Mobile 24 hours per day (24/7), unless receiving a notice on the service temporary postpone by KB PRASAC.

    • Source Account Requirement
      • To open Term Deposit Account, the Client is required to select the Source Account which is the Deposit Account linked to KB PRASAC Mobile with account’s access level as “Full Access” that allows Client to do any financial transaction.
      • Source Account can be a type of Savings Account or Unfixed Deposit Account or Flexi Growth or Payroll Account or Current Account or Premium Current Account, Digital Account or Merchant Savings Account etc.
      • The Source Account is not allowed to close if it is being linked with the Active Term Deposit Account.
      • The Client agrees and allows KB PRASAC to use the Specimen Signature and Account Signing Condition of the Source Account to verify the account holders in case of requesting to close the Term Deposit Account or other requests over the counter (Bank Confirmation or Account Statement etc.).
      • In case the Source Account is a Joint Account which has member up from 02 persons, the Client shall agree and accept that all Joint Account Holders have full right to request to close the Term Deposit Account and/or other requests by following the Specimen Signature and Account Signing Condition of the Source Account.
    • Currency
      • The Client can choose to open the Term Deposit Account in 02 (two) currencies as below:
        • Khmer Riel (KHR) and
        • US Dollars (USD)
      • The currency of the Term Deposit Account will be automatically defined based on the currency of the Source Account. Thus, the Client is unable to select the different currency from the currency of the Source Account.
    • Deposit Limitation and Number of Account
      • The minimum deposit balance of opening Term Deposit account is up from KHR 200,000 or USD 50 and unlimited per Client.
      • There is no limitation on number of opening Term Deposit Account.
    • Deposit Term
      The Client can choose term of deposit from 01 to 60 months based on Client’s requirement and cash flow.
    • Interest Rate
      • The Client will gain the interest rate of Term Deposit Account following the term of deposit.
      • The earned Interest will be accrued daily and credited into Source Account on monthly basis or on the maturity date based on the type of Term Deposit Account selected.
      • The Client can find the information of the Interest Rate of Term Deposit Account during account opening via KB PRASAC Mobile or KB PRASAC official website or any nearest KB PRASAC office.
    • Withholding Tax
      • The Client accepts that the earned interest will be subject to withholding tax or other taxes as required by applicable Laws or Regulations.
      • The Client acknowledges that withholding tax shall be his/her responsibilities and allow KB PRASAC to withhold the tax amount directly from the Term Deposit Account when the earned interest is credited.
      • Withholding Tax Rate is defined below:
        • 6% for Resident
        • 14% for Non-Resident
    • Type of Term Deposit Account
      The Client can select either one of the two types of Term Deposit Account as below:

      • Term Deposit Account-Monthly Growth: A type of account which the Client will receive the earned interest in monthly basis and it will be automatically credited into the Source Account.
      • Term Deposit Account-Maturity Growth: A type of account which the Client will receive the earned interest at the end of the term and it will be credited into the Source Account or capitalized as the principal based on rollover options selected.
    • Rollover Conditions
      • When open the Term Deposit Account, the Client can choose either one of the three following rollover options:
        • Rollover Principal and Interest
        • Rollover Principal only
        • Close on Maturity
      • In case the Client chooses rollover (rollover principal and interest or rollover principal only), and upon the arrival of the maturity date, the Client does not give written instruction to KB PRASAC to change the terms, the term of deposit shall be successively renewed for the same period and conditions and the Client accepts the KB PRASAC prevailing rate at the time of renewal.
      • In case the Client chooses Term Deposit Account “Maturity Growth”, the Client can select either one of the three rollover options stated in 3.9.1 above.
      • In case the Client chooses Term Deposit Account “Monthly Growth”, the Client can choose either one of the two rollover options, (i) Rollover Principal only and (ii) Close on Maturity. The Client is not allowed to choose “Rollover Principal and Interest” since the earned interest is already paid to the Source Account on monthly basis.
    • Change Rollover Conditions
      • The Client can change rollover conditions of his/her Term Deposit Account by his/herself through KB PRASAC Mobile including Term Deposit Account(s) that has been open at branch office and open via KB PRASAC Mobile. Client can manage to change it as the following:
        • Term Deposit Account- Maturity Growth, client can:
          => Change conditions from “Rollover Principal and Interest” to/from “Rollover Principal only” or “Close on Maturity”
          => Change from “Rollover Principal only” to/from “Close on Maturity”
        • Term Deposit Account-Monthly Growth, client can:
          => Chang from “Rollover Principal only” to “Close on Maturity” or
          => Change from “Close on Maturity” to “Rollover Principal only”
      • Not allowed to change the rollover conditions of the Term Deposit Account which is being blocked or frozen.
    • Effective Date of Account Opening
      • The effective date of account opening is the actual date that the Client opens the Term Deposit Account via KB PRASAC Mobile.
      • In case the Client opens Term Deposit account on weekend or holiday or after closing day (EOD), the effective date will be automatically moved forward to the next working day.
    • Maturity Date of Account
      • The maturity date of Term Deposit Account is automatically defined by system based on the Deposit Term which is selected by the Client.
      • In case the maturity date falls on a weekend or holiday, the maturity date will be automatically moved backwards to the previous working day.
    • Certificate of Term Deposit or Account Statement
      • The Client can view the information and other transactions of Term Deposit Account via KB PRASAC Mobile at anytime and anywhere.
      • The Client can print the Certificate of Term Deposit by his/her own from KB PRASAC Mobile.
      • In case the Client needs the original Certificate of Term Deposit or Account Statement, the Client can request at any nearest KB PRASAC Office and the request will be followed the conditions defined by KB PRASAC.
  4. Deposit

    • The additional deposit into the existing Term Deposit Account is not allowed.
    • Every additional deposit means to open new Term Deposit Account which is required to follow the terms and conditions of account opening stated in this Terms and Conditions.
  5. Withdraw
    Every partial or full cash withdrawal from Term Deposit Account means to close the Term Deposit Account and the Client shall follow the conditions of Account Closing stated in this Terms and Conditions.
  6. Term Deposit Account Closing Condition

    • Every request to close Term Deposit Account, the Client is required to request in written letter at any nearest KB PRASAC Office or the account will be automatically closed upon the maturity date if the Client chooses the rollover type as “Close on Maturity”.
    • The Client who has right to request to close the account can be him/herself and/or others Joint Account Holder (for Individual Joint Account) even the account(s) are opened by you.
    • The closing request shall be followed the Specimen Signature and Account Signing Condition of the Source Account.
    • The Client will obtain full interest rate if closing the Term Deposit Account at the Maturity Date.
    • For premature withdrawal of the account, the Client will not receive the full interest rate and KB PRASAC reverses full right to define the interest rate upon the request date of account closing.
    • After account is closed, the principal and earned interest will be credited into the Source Account in which the Client can view it in the Account Statement.
    • In case the Client requests to close the Term Deposit Account “Monthly Growth” before maturity date, the Client agrees to return the monthly paid interest and authorizes KB PRASAC to settle that earned interest from his/her balance of Term Deposit Account.
    • If the Client places Term Deposit Account as Loan Collateral, the Client can request to close the Term Deposit Account unless the loan is already paid off.
  7. Rights and Obligation of Client

    • Client has to abide by all points in this Terms and Conditions.
    • Client ensures that Client has full right to open Term Deposit Account via KB PRASAC Mobile and to provide correct and up-to-date information.
    • Client ensures that Source Account has sufficient balance to open Term Deposit Account.
    • Client needs to check the detailed information and conditions carefully before confirming to open Term Deposit Account. Any incorrect of inputting account conditions such as wrong Source Account or excess limit or deficiency etc. shall be at Client’s own responsibility.
    • Client agrees to review and give a notice to KB PRASAC on the technical problems or any irregularity occurred during or after account opening.
    • Client is entitled to obtain all the information related to the transaction of opening Term Deposit Account, interest rate, fee charge, and withholding tax etc.
    • Client is entitled to ask and clarify if there is the discord of transaction report or others information relevant with account opening or using at any KB PRASAC office or other channels provided by KB PRASAC.
  8. Rights and Obligation of KB PRASAC

    • KB PRASAC has the rights to review and verify Client’s background and to request further information from the Client if needed and has right to provide or not to provide this service to the Client.
    • KB PRASAC will follow the Client’s transactions but KB PRASAC will not be responsible in case Client input and/or select an incorrect Source Account and/or amount and/or other conditions etc.
    • KB PRASAC reverses the right to block or unblock or disallow or allow to rollover or terminate the Term Deposit Account before maturity if the Client does not fulfill the correct or sufficient information following the conditions required by KB PRASAC and/or at KB PRASAC sole discretion and KB PRASAC is not liable for any loss due to implementing all these rights.
    • KB PRASAC has right to cooperate with authorities to investigate, freeze or stop allowing Client to open the Term Deposit Account with reference to rule of law or court order.
    • KB PRASAC reserves the right to suspend the transactions of opening of Term Deposit Account when there are problems and/or in necessary cases.
    • KB PRASAC reserves the right to amend the Interest Rate, Fee Charge and/or other conditions according to the terms and conditions of its business.
    • KB PRASAC will confidentially keep your personal information except as required by law or court order or with your consent.
    • KB PRASAC offers a 24-hour help line, businesses consultations or other problems.
  9. Anti-Money Laundering and Combating Financing Terrorism
    According to Cambodian Law and regulations related to Anti-Money Laundering and Combating the Financing of Terrorism, KB PRASAC can postpone or confine or reject any transaction if KB PRASAC believes that:

    • The source of fund is suspicious
    • The transactions or the accounts may be directly or indirectly involved with unlawful activities of Cambodian or International Law.
    • It is required by Court Order or National Bank of Cambodia (NBC).
  10. Amendment of Interest Rate, Fee, Conditions and Notification

    • KB PRASAC reserves the right to amend Interest Rate, Fee Charge, conditions applied to the use of your account by prior notice to you as required by law.
    • Without written complaint(s) from the Client during the above notice period, it is assumed that you have agreed and accepted the amendment(s) immediately from the effective date of the amendment(s) published through one of below channels:
      • KB PRASAC Office and/or
      • KB PRASAC official Website and/or Social Media and/or
      • SMS or E-mail and/or
      • Advertisements on newspapers, magazines, KB PRASAC Mobile or other methods chosen by KB PRASAC etc…
    • The Client is assumed that he/she has received a notification immediately after KB PRASAC has publicly announced via any of the above channels.
  11. Law and Dispute Resolutions

    • These terms and conditions are managed and described by the Cambodian Law.
    • In case of disputes, both parties have to solve them peacefully. If the disputes cannot be done peacefully or outside the court, they have to be solved within the court along with the Cambodian Law.
    • Other issues which are not stated in the provisions have to be implemented with the law of Cambodia.
    • Other terms and conditions which are not stated in this terms and conditions shall follow the “General Terms and Conditions on Using of KB PRASAC Product and Service” which can be found at KB PRASAC official Website kbprasacbank.com.kh or any nearest KB PRASAC office.
  12. Severability
    Invalidity or unenforceability of one or more provisions of this Agreement shall not affect any other provision of this Agreement.
  13. Language
    The general terms and conditions are in Khmer and English. In case there is any conflict or inconsistency between the two versions, Khmer language shall prevail.

  1. Term and Conditions

    • The Terms & Conditions for opening and closing Term Deposit Account via KB PRASAC Corporate, hereinafter called “Terms & Conditions” is an “Agreement” between “Client” and KB PRASAC Bank Plc., hereinafter called KB PRASAC in using this service with KB PRASAC.
    • Please carefully read the “Terms and Conditions” before clicking “Agree” to open or close Term Deposit Account via KB PRASAC Corporate.
    • When Client clicks “Agree”, it means that the Client has read, and accepted all terms and conditions stated in this terms and conditions, and he/she is fully responsible for opening, amending or closing Term Deposit Account via KB PRASAC Corporate.
  2. Key Terms

    • The Client
    :  Refers to Account Holder or Account Signatory who using the Term Deposit Account via KB PRASAC Corporate.
    • KB PRASAC Corporate
    Refers to the Service which allows client to securely perform financial and non-financial transactions on your account at anywhere and anytime (24/7) through KB PRASAC Corporate Web (Internet Browser).
    • Term Deposit Account
    Refers to a type of deposit account that has specific term of deposit and obtains a higher interest rate following each tenor.
    • Source Account
    :  Is a settlement account used to settle the amount of principal when opening or receiving the interest and principal when closing the Term Deposit Account or receiving Monthly Interest. Every transaction occurred over the counter such as open, close, and other requests within the Term Deposit Account will be verified with the Specimen Signature and Account Signing Condition of the Source Account.
    • Account Statement
    A summary report of banking transactions occurred within account.
    • Rollover Principal Only
    When Term Deposit Account is on maturity date, the interest earned will be credited into the Source Account and the principal balance will be automatically renewed to the next term.
    • Rollover Principal and Interest
    When Term Deposit Account is on maturity date, the interest earned and principal balance will be automatically capitalized, and renewed to the next term.
    • Close on Maturity
    When Term Deposit Account is on maturity date, the account will automatically close, and the interest earned and principal balance will be credited into the Source Account.
  3. Condition of Opening Term Deposit Account
    The Client is required to input the information and select the conditions on Term Deposit Account opening correctly and sufficiently with the following information:

    • Operating Hours
      The Client can open Term Deposit Account via KB PRASAC Corporate 24/7 and everywhere, except there is a special notification about temporary postpone by KB PRASAC.
    • Source Account Requirement
      • To open Term Deposit Account, the Client is required to select the Source Account which is the Deposit Account linked to KB PRASAC Corporate with account’s access level as “Full Access” that allows Client to do any financial transaction.
      • Source Account can be a type of Savings Account or Unfixed Deposit Account or Flexi Growth Savings Account or Payroll Account or Current Account or Premium Account or Digital Account or Merchant Account etc.
      • The Source Account is not allowed to close if it is being linked with the Active Term Deposit Account.
      • The Client agrees and allows KB PRASAC to use the Specimen Signature and Account Signing Condition of the Source Account to verify the account holders in case of requesting to close the Term Deposit Account or other requests over the counter (Bank Confirmation or Account Statement etc.).
      • In case, the Source Account is a Joint Account or Entity Account which has Account Signatory up from 02 persons, the Client shall agree and accept that other Joint Account Holder(s) or Account Signatory(s) have full right to request to close the Term Deposit Account and/or other requests by following the Specimen Signature and Account Signing Condition of the Source Account.
    • Currency
      • The Client can choose to open the Term Deposit Account in 02 (two) currencies as below:
        • Khmer Riel (KHR) and
        • US Dollars (USD)
      • The currency of the Term Deposit Account will be automatically defined based on the currency of the Source Account. Thus, the Client is unable to select the different currency from the currency of the Source Account.
    • Deposit Limitation and Number of Account
      • Minimum deposit balance of opening Term Deposit account is up from KHR 200,000 or USD 50 and Unlimited per Client.
      • There is no limitation on the number of opening Term Deposit Account​ through KB PRASAC Corporate.
    • Deposit Term
      The Client can choose term of deposit from 01 to 60 months based on Client’s requirement and cash flow.
    • Interest Rate
      • The Client will gain the interest rate of Term Deposit Account based on the terms that client choose.
      • The earned Interest will be accrued daily and credited into Source Account on monthly basis or on the maturity date based on the type of selected Term Deposit Account.
    • Withholding Tax
      • The Client accepts that the earned interest will be subject to withholding tax or other taxes as required by applicable Laws or Regulations.
      • The Client acknowledges that withholding tax shall be his/her responsibilities and allow KB PRASAC to withhold the tax amount directly from the Term Deposit Account when the earned interest is credited.
      • Withholding Tax Rate is defined below:
        • 6% for Resident
        • 14% for Non-Resident
      • Type of Term Deposit Account
        The Client can select either one of the two types of Term Deposit Account as below:

        • Term Deposit Account -Monthly Growth: A type of account which the Client will receive the earned interest in monthly basis and it will be automatically credited into the Source Account.
        • Term Deposit Account -Maturity Growth: A type of account which the Client will receive the earned interest at the end of the term and it will be credited into the Source Account or capitalized as the principal based on rollover options selected.
      • Rollover Conditions
        • When open the Term Deposit Account, the Client can choose either one of the three following rollover options:
          • Rollover Principal and Interest
          • Rollover Principal only
          • Close on Maturity
        • In case the Client chooses rollover (rollover principal and interest or rollover principal only), and upon the arrival of the maturity date, the Client does not give written instruction to KB PRASAC to change the terms, the term of deposit shall be successively renewed for the same period and conditions and the Client accepts the KB PRASAC prevailing rate at the time of renewal.
        • In case the Client chooses Term Deposit Account “Maturity Growth”, the Client can select either one of the three rollover options stated in 3.9.1 above.
        • In case the Client chooses Term Deposit Account “Monthly Growth”, the Client can choose either one of the two rollover options, (i) Rollover Principal only and (ii) Close on Maturity. The Client is not allowed to choose “Rollover Principal and Interest” since the earned interest is already paid to the Source Account on monthly basis.
      • Change Rollover Conditions
        • The Client can change rollover conditions of his/her Term Deposit Account by his/herself through KB PRASAC Corporate including Term Deposit Account(s) that has been open at branch office and open via KB PRASAC Corporate. Client can manage to change it as the following:
          • Term Deposit Account- Maturity Growth, client can:
            => Change conditions from “Rollover Principal and Interest” to/from “Rollover Principal only” or “Close on Maturity”
            => Change from “Rollover Principal only” to/from “Close on Maturity”
          • Term Deposit Account-Monthly Growth, client can:
            => Chang from “Rollover Principal only” to “Close on Maturity” or
            => Change from “Close on Maturity” to “Rollover Principal only”
        • Not allowed to change the rollover conditions of the Term Deposit Account which is being blocked or frozen.
      • Effective Date of Account Opening
        • The effective date of account opening is the actual date that the Client opens the Term Deposit Account via KB PRASAC Corporate.
        • In case the Client opens Term Deposit account on weekend or holiday or after closing day (EOD/closing business day), the effective date will be automatically moved forward to the next working day.
      • Maturity Date of Account
        • The maturity date of Term Deposit Account is automatically defined by system based on the Deposit Term which is selected by the Client.
        • In case the maturity date falls on a weekend or holiday, the maturity date will be automatically moved backwards to the previous working day.
      • Certificate of Term Deposit or Account Statement
        • The Client can view the information and other transactions of Term Deposit Account via KB PRASAC Corporate at anytime and anywhere.
        • The Client can print the Certificate of Term Deposit by his/her own from KB PRASAC Corporate.
        • In case the Client needs the original Certificate of Term Deposit or Account Statement, the Client can request at any nearest KB PRASAC Office and the request will be followed the conditions defined by KB PRASAC.
  4. Deposit

    • The additional deposit into the existing Term Deposit Account is not allowed.
    • Every additional deposit means to open new Term Deposit Account which is required to follow the terms and conditions of account opening stated in this Terms and Conditions.
  5. Withdraw
    Every partial or full cash withdrawal from Term Deposit Account means to close the Term Deposit Account and the Client shall follow the conditions of Account Closing stated in this Terms and Conditions.
  6. Condition of Closing Term Deposit Account
    The Client can request for Closing of Term Deposit through KB PRASAC Corporate with below channels:1.  Request in written letter at any KB PRASAC branch or
    2.  Summit request via KB PRASAC Corporate or
    3. KB PRASAC Mobile.

    • Request closing Term Deposit at Branch

      • The Client can request to close Term Deposit Account in a written letter at any nearest KB PRASAC Office.
      • The Client who has right to request to close the account can be him/herself and/or others Joint Account Holder (for Individual Joint Account) and/or other Account signatories (for Corporate Account) even the account has been opened by you.
      • The closing request shall be followed the Specimen Signature and Account Signing Condition of the Source Account.
      • The Client will obtain full interest rate if closing the Term Deposit Account at the Maturity Date.
      • For premature withdrawal of the account, the Client will not receive the full interest rate and KB PRASAC reverses full right to define the interest rate upon the request date of account closing.
      • After account is closed, the principal and earned interest will be credited into the Source Account in which the Client can view it in the Account Statement.
      • In case the Client requests to close the Term Deposit Account “Monthly Growth” before maturity date, the Client agrees to return the monthly paid interest and authorizes KB PRASAC to settle that earned interest from his/her balance of Term Deposit Account.
      • If the Client places Term Deposit Account as Loan Collateral, the Client can request to close the Term Deposit Account unless the loan is already paid off.
    • Request closing Term Deposit via KB PRASAC Corporate
      • Client can request for closing Term Deposit Account via KB PRASAC Corporate at any time (24/7) and everywhere by following the flow of using the KB PRASAC Corporate.
      • The client can request to close the Term Deposit Account which opened at:
        • KB PRASAC Branch or
        • KB PRASAC Corporate or
        • KB PRASAC Mobile.
      • The request for closing of account through KB PRASAC Corporate will be reviewed and approved by KB PRASAC in the business day.
      • If client requests to close the account on the holiday or in weekend or at the non-working hours of KB PRASAC, the request will be reviewed and approved in the next working day.
      • Client cannot request for closing Term Deposit account that has been blocked or frozen or pledged as loan collateral.
      • Other conditions of closing the Term Deposit account is followed the same conditions of closing Term Deposit Account at branch.
  7. Right and Obligation of Client

    • Client has to abide by all points in this Terms and Conditions.
    • Client ensures that Client has full right to open and close Term Deposit Account via KB PRASAC Corporate and to provide correct and up-to-date information.
    • Client ensures that Source Account has sufficient balance to open Term Deposit Account.
    • Client needs to check the detailed information and conditions carefully before confirming to open Term Deposit Account. Any incorrect of inputting account conditions such as wrong Source Account or excess limit or deficiency etc. shall be at Client’s own responsibility.
    • Client agrees to review and give a notice to KB PRASAC on the technical problems or any irregularity occurred during or after account opening or closing.
    • Client is entitled to obtain all the information related to the transaction of opening Term Deposit Account, interest rate, fee charge, and withholding tax etc.
    • Client is entitled to ask and clarify if there is the discord of transaction report or others information relevant with account opening or using at any KB PRASAC office or other channels provided by KB PRASAC.
  8. Right and Obligation or KB PRASAC

    • KB PRASAC has the rights to review and verify Client’s background and to request further information from the Client if needed and has right to provide or not to provide this service to the Client.
    • KB PRASAC will follow the Client’s transactions but KB PRASAC will not be responsible in case Client input and/or select an incorrect Source Account and/or amount and/or other conditions etc.
    • KB PRASAC reverses the right to block or unblock or disallow or allow to rollover or terminate the Term Deposit Account before maturity if the Client does not fulfill the correct or sufficient information following the conditions required by KB PRASAC and/or at KB PRASAC sole discretion and KB PRASAC is not liable for any loss due to implementing all these rights.
    • KB PRASAC has right to cooperate with authorities to investigate, freeze or stop allowing Client to open the Term Deposit Account with reference to rule of law or court order.
    • KB PRASAC reserves the right to suspend the transactions of opening of Term Deposit Account when there are problems and/or in necessary cases.
    • KB PRASAC reserves the right to amend the Interest Rate, Fee Charge and/or other conditions according to the terms and conditions of its business.
    • KB PRASAC will confidentially keep your personal information except as required by law or court order or with your consent.
    • KB PRASAC offers a 24-hour help line, businesses consultations or other problems.
  9. Anti-Money Laundering and Combating Financing Terrorism
    According to Cambodian Law and regulations related to Anti-Money Laundering and Combating the Financing of Terrorism, KB PRASAC can postpone or confine or reject any transaction if KB PRASAC believes that:

    • The source of fund is suspicious
    • The transactions or the accounts may be directly or indirectly involved with unlawful activities of Cambodian or International Law.
    • If there is a Court Order or National Bank of Cambodia (NBC).
  10. Amendment of Interest Rate, Fee, Conditions and Notification

    • KB PRASAC reserves the right to amend Interest Rate, Fee Charge, conditions applied to the use of your account by prior notice to you as required by law.
    • Without written complaint(s) from the Client during the above notice period, it is assumed that you have agreed and accepted the amendment(s) immediately from the effective date of the amendment(s) published through one of below channels:
      • KB PRASAC Office and/or
      • KB PRASAC official Website and/or Social Media and/or
      • SMS or E-mail and/or
      • Advertisements on newspapers, magazines, KB PRASAC Mobile, KB PRASAC Corporate or other methods chosen by KB PRASAC etc.
    • The Client is assumed that he/she has received a notification immediately after KB PRASAC has publicly announced via any of the above channels.
  11. Law and Dispute Resolutions

    • These terms and conditions are managed and described by the Cambodian Law.
    • In case of disputes, both parties have to solve them peacefully. If the disputes cannot be done peacefully or outside the court, they have to be solved within the court along with the Cambodian Law.
    • Other issues which are not stated in the provisions have to be implemented with the law of Cambodia.
    • Other terms and conditions which are not stated in this terms and conditions shall follow the “General Terms and Conditions on Using of KB PRASAC Products and Services” which can be found at KB PRASAC official Website kbprasacbank.com.kh or any nearest KB PRASAC office.
  12. Severability
    Invalidity or unenforceability of one or more provisions of this Agreement shall not affect any other provision of this Agreement.
  13. Language
    These terms and conditions are made in Khmer and English. In case, there is any conflict or inconsistency between the two versions, then Khmer language shall prevail.

  1. General Terms and Conditions

    • The General Terms & Conditions of use of Bakong Payment Service, hereinafter referred to as “General Terms & Conditions” is an “agreement” between Client and KB PRASAC Bank Plc. hereinafter referred to as “KB PRASAC” in connection with the use of Bakong Payment Service.
    • Please carefully read the “General Terms and Conditions” before clicking “Agree” to register to use the Bakong Payment Service.
    • When you click “Agree”, it means that you have read and accepted all terms and conditions stated in this general terms and conditions, and are fully responsible for using the “Bakong Payment Service”.
  2. Definition of Key Terms

    • The Client: refers to clients who have registered to use the Bakong Payment Service via his/her Mobile phone.
    • Bakong System: refers to a real-time electronic payment which its function is to facilitate inter-bank payment with participants of Bakong System.
    • Bakong App: refers to the Mobile Application that client can download via their mobile phone from iOS or Android.
    • Bakong Account: refers to Khmer Riel and US Dollar E-wallet Accounts which are opened automatically by clients after a successful registration for Bakong via their mobile phone. User Name or Phone Number represents the Bakong Account.
    • Bank Account: refer to Savings Account which clients opened at KB PRASAC.
    • Passcode: refers to a Personal Password of 8 digits (consists of capital letter + small letter + special character + number) using to restore the Bakong Account whenever client changes the mobile device or forget the PIN Code to log in to use the Bakong Payment Service.
    • PIN Code: refers to the 6-digit code which defined by the client for using to log in to use the Bakong Payment Service in the mobile phone.
    • QR Code: refers to Identity Code for Bakong Account, it is used for Receiving, Paying goods and services via Bakong Payment Service. QR Code was created automatically after Client successfully register for Bakong Payment Service.
    • Account ID: represents the Bakong Account of the Client. The Account ID is automatically created when the client registered the Bakong Payment Service.
    • Force Majeure: Refers to any events that are unforeseeable external to the parties, and unavoidable which prevent any party or both parties from performing its obligation as stated in this Agreement such as volcano, flood, earthquake, hurricane, terrorism, riot, war…etc.
  3. Service Registration Requirement

    • Client is at least 16 years old
    • Must have a personal mobile phone (iOS & Android) and phone number.
    • To fill all up-to-date and accurate personal information
    • Take a Real Selfie and Identification Document such as: National Identification Card and Passport valid at least 03 months validity before its expiry date.
    • Must agree to all general terms and conditions for using “Bakong Payment Service”.
  4. Required Information of the Client

    • To register for Bakong Payment Service, the Client is required to provide necessary information for KB PRASAC and confirm that all information provided is true, correct, and up-to-date.
    • The Client agrees to abide by all terms and conditions, be responsible for all information fulfilled and in accordance with the Rules which are stated in the terms and conditions of using Bakong Payment Service.
    • The client acknowledges and agrees that KB PRASAC will disclose the Client’s information, when requested, by a court order or other relevant competent authorities (both local and/or international).
  5. Bakong Account Feature

    • Bakong Accounts are automatically created in KHR & USD Currency after client successfully self-registered for the use of Bakong Payment Service via his/her mobile phone.
    • Interest Rate, Initial Deposit, and Minimum Deposit are not required.
    • All deposit and withdrawal transactions from Bakong Account must be made at Counters or other channels of KB PRASAC or Bakong Members. All payment or transfer (send) are made on Client’s Mobile Phone.
    • Fee Charge and Limitation in using Bakong Payment Service is posted on the KB PRASAC official website and/or any KB PRASAC branches and/or Bakong Application.
    • Bakong Account that has been inactive for 365 days (except transaction are made by KB PRASAC) will become a Dormant Account and will be automatically suspended.
  6. Type of Bakong Services

    • Transfer between Bakong Account to Bakong Account (within KB PRASAC)
    • Transfer between Bakong Account to Bakong Account (Cross Bank Member)
    • Transfer between Bakong Account to Bank Account (Within KB PRASAC)
    • Transfer between Bakong Account to Bank Account (Cross Bank Member)
    • Pay goods and services via scanning QR Code
    • Balance Enquiry and Bakong Account Statement
    • Other services that may be officially used for actual circumstances.
  7. Deposit and Withdraw Condition

    • You can deposit or withdraw fund from your Bakong Account at the counter or other channels which allowed by KB PRASAC or Bank Members of Bakong System.
    • You agree to pay the service fee of deposit or withdrawal accordingly to the fee posted on the KB PRASAC Website and/or Bakong Application and/or KB PRASAC branches or others bank members of Bakong System.
  8. Transaction Limit and Service Fees

    • Clients agree to pay the applicable fees related to the use of Bakong Payment Service and allow KB PRASAC to directly debit from your Bakong Account without issuing a prior notice.
    • Client must maintain sufficient balance at all time to do the transaction and comply with KB PRASAC Limitation.
    • All applicable Fees and Limitation are available on KB PRASAC official website: kbprasacbank.com.kh, all KB PRASAC branches and Bakong Application.
  9. Operating Hours

    • Client can perform transaction via Bakong System 24 hours per day, unless a notice is given by KB PRASAC.
    • KB PRASAC will notify in case of any interruption of the operation to repair or update the system.
    • KB PRASAC reserves right to postpone the operations if any issues arise or prior cases.
  10. Service Termination

    • Clients are able to terminate Bakong Payment Service by themselves via his/her mobile phone and the Client are not required to visit KB PRASAC Office.
    • Clients are required to withdraw or transfer cash from their Bakong Account to make balance zero in advance before terminating the service.
  11. Passcode and PIN Code Security Tips

    • Choose the Passcode consist in Uppercases, Lowercases, Number and Special character.
    • Must remember your Passcode and PIN Code, or do not write or record it or let anyone else know it.
    • Do not give your Passcode and PIN Code or your personal information to anyone.
    • You are encouraged to change your Passcode and PIN Code frequently.
    • Do not use your Date of Birth, Phone Number, Account Number or Easy to Remember Number as a Passcode and PIN Code to log in Bakong Application.
    • Make sure that no one is nearby you when you enter your Passcode and PIN Code.
    • Please change your Passcode and PIN Code if you suspect that your Passcode and PIN Code has been discovered by anyone.
    • You must keep your Passcode and PIN Code at a safe place. The damage or loss due to your negligence is fully at your own risk.
    • In case you forget your Passcode and PIN Code, please contact our customer service via 023/086 999 911.
  12. Security Tips of Registered Mobile Phone

    • Please create Password to protect your mobile phone.
    • Do not download or install any unknown software on your mobile phone. In case you connect or install it, you should immediately disconnect or uninstall to avoid Virus and/or Hacking.
    • Do not use your mobile phone installed with Bakong Application with Public Wi-Fi or along with others to avoid hacking.
    • Do not leave your mobile phone with Bakong Application at public venue.
    • Immediately log out the Bakong Application after using Bakong Payment Service.
    • Maintain your mobile phone at a safe place. If your phone is damaged or lost, immediately notify KB PRASAC to suspend Bakong Accounts or take other technical process to prevent fraud.
    • You have to delete the Bakong Application from your mobile phone when you change or sell your mobile phone.
  13. Rights and Obligation of the Client

    • You have to ensure that all information provided for KB PRASAC to register and use the Bakong Payment Service is true, correct and up-to-date. If the information is incorrect, you are fully responsible before the law.
    • You need to check the detail payment information carefully before confirming the payment. Any incorrect information, account number, excess limit or deficiency shall be your own responsibility.
    • You are fully responsible for using Bakong Payment Service. In case there is loss of money in the personal account or account of another person, whether intentionally or unintentionally or by negligence or by any other give it a trial, invasion, data fraud, direct or indirect fraud or involve with the others, you are responsible before the law of Cambodia.
    • You have to abide by all Terms and Conditions on using of Bakong Payment Service through Bakong System.
    • You allow KB PRASAC to settle the payment unconditionally in case of any complaint/claim to be responsible to the losses or any expenditures that KB PRASAC is responsible to as the result of improper transaction of payment services via Bakong Payment Service, and by the violation over the general terms and conditions of payment services via Bakong Payment Service without permission or fake transaction…
    • You are entitled to get all the types of Bakong Payment Service with an agreement with KB PRASAC and you can inspect the quality of service and give feedback.
    • You are entitled to obtain all the information related to the functions of Bakong Payment Service, the instruction, service fee, interest rate and calculation of relevant fees.
    • You are entitled to ask if there is the discord of Bakong Account report or other transactions.
  14. Right and Obligation of KB PRASAC

    • KB PRASAC has the rights to review and verify Client’s background and to request further information from Client if needed. The approval of using this service shall be at KB PRASAC
    • KB PRASAC will implement the transactions via Bakong Payment Service but KB PRASAC will not be responsible in case you enter incorrect information or account number or surplus or deficiency balance etc.
    • KB PRASAC has rights to cooperate with local authorities to investigate, freeze or stop your Bakong Payment Service with reference to rule of law or court order.
    • KB PRASAC reserves rights to suspend the Bakong Account of the client if the client does not fulfil the correct or sufficient information following the conditions required by KB PRASAC.
    • In event Bakong Payment Service cannot be operated due to force majeure, KB PRASAC will assist you for solutions or assistance according to the accurate reasons, but will not be responsible for those cases.
    • KB PRASAC has right to set up the relevant fees or change the fees according to conditions of businesses.
    • KB PRASAC offers a 24-hour help line, businesses consultations and the report of forgetting passcode or other problems.
    • KB PRASAC will confidentially keep your personal information except as required by law affair or there is a court order.
    • KB PRASAC has right to suspend transactions when there are problems.
  15. Anti-Money Laundering and Combating Financing Terrorism

    • Accepting all the terms and conditions, you agree with KB PRASAC that KB PRASAC can postpone, confine or reject for any transactions without responsibilities in case as below:
      • Any transactions that unlawful of Cambodia or international law.
      • Any transactions that are directly or indirectly related to illegal activities.
    • You agree and are responsible to KB PRASAC that all the payments via Bakong Payment Service do not abuse the law of Cambodia or jurisdiction of other countries.
  16. Service Fee, Limitation, Conditions Amendment and Notifications

    • KB PRASAC reserves the right to amend information, service fee, limitation, and/or terms and conditions relevant to the use of this service by prior notice to the client as required by law.
    • Without written complaint(s) from the Client during the above notice period, it is assumed that you agree and accept the amendment(s) immediately from the effective date of the amendment(s) published through one of below channels:
      • KB PRASAC Office and/or
      • KB PRASAC official Website and/or social media and/or
      • SMS or E-mail and/or
      • Advertisements on newspapers, magazines, KB PRASAC Mobile Banking App, Bakong App or other methods chosen by KB PRASAC
    • The Client is assumed that he/she has received a notification immediately after KB PRASAC has publicly announced via any of the above channels.
  17. Law and Dispute Resolutions

    • These terms and conditions are managed and described by the law of Cambodia.
    • In case of disputes, both parties have to solve them peacefully. If the disputes cannot be done peacefully or outside the court, they have to be solved within the court along with the law of Cambodia.
    • Other issues which are not stated in the provisions have to be implemented with the law of Cambodia.
  18. Severability
    Invalidity or unenforceability of one or more provisions of this Agreement shall not affect any other provision of this Agreement.
  19. Languages
    The general terms and conditions are made in Khmer and English. In case there is any conflict or inconsistency between the two versions, Khmer language shall prevail.

    I read and agree to apply the above-mentioned terms and conditions for using Bakong Payment Service.