Terms and Conditions

FLASH DIGITAL BANK ACCOUNT SERVICE

CUSTOMER TERMS AND CONDITIONS

These Terms and Conditions form a legal agreement between Commercial Bank of Ceylon PLC (PQ 116) (hereinafter referred to as CBC) and each Customer (as hereinafter defined) and shall govern the use of the Flash Digital Bank Account opened by the Customer at CBC.

Note : Additional Terms and Conditions will be applicable for Flash customers who are residing overseas (Migrant Workers) based on the  Laws relating to Exchange Control in   Sri Lanka.

  1. Definitions

In this document and pertaining to the use of the Flash Digital Bank Account Services, unless otherwise specified

    • “CBC” means Commercial Bank of Ceylon PLC bearing registration # PQ 116 having its registered office at # 21, Sir Razik Fareed Mawatha, Colombo 01 which term or expression will mean and include the said Commercial Bank of Ceylon PLC and its successors and permitted assigns.
    • “Customer” means a person who having understood the features has downloaded and installed the Flash App of CBC and utilizes the various functions of the Flash Digital Bank Account Services.
    • “Daily Limit” means the maximum monetary value of transactions which can be transacted through the Flash Digital Bank Account during a day which said amount may be notified by CBC to customers from time to time and is subject to change at the sole discretion of CBC.
    • “DAY” means a period of 24 hours commencing from 00.00 hours Sri Lanka standard time.
    • “Flash App” means the mobile application of CBC relating to the Flash Digital Bank Account System available for download at an approved app store.
    • “Flash Web” means the web application of CBC relating to the Flash Digital Bank Account System available at www.flashbank.lk through which customers can obtain more information and register for the facility.
    • “Flash Assistance” means the services offered by the service centre established by CBC for the purposes of the Flash Digital Bank Account Service, details of which are available on the Flash Website of the CBC.
    • “Flash Digital Bank Account” means the bank account opened by a Customer at CBC, through the Flash Digital Bank Account Service, the opening of such bank account being a pre-requisite for the provision of the Flash Digital Financial Services. In default two accounts will be created and assigned for each customer. Product Types of the accounts will differ based on whether customer is a resident of Sri Lanka or overseas (migrant worker). 
      • Flash Primary Account: All transactions such as deposits, inward and outward transfers, bill payments, merchant settlements and transferring to any investment account within CBC will originate through this account. Flash Primary Account Number will be indicated on the app for customer’s necessary action.
        In case of an emergency, customer may make over the counter withdrawals only through the Flash Primary Account, balances in the Flash Savings Account under different savings goals can be withdrawn only through the primary account after transferring such balances.

The above account is subject to the following features and limitations.

        • Non-interest-bearing Savings Account
        • No minimum initial deposit required for account opening
        • Mode of Deposits
          • Online Wire/Fund Transfers in LKR
          • Inward Remittances in LKR
          • Deposits through Bank’s CDM/CRM
          • Over the Counter Deposits
      • Cash withdrawals are entertained only via ATMs except for an emergency
      • This product type is applicable only for Flash customers who register and activate Flash Digital Bank Account in Sri Lanka.
    • Flash Savings Account : All savings targets set by customer through Flash Digital Bank Account Services will be credited for customer’s Flash Savings Account accordingly.
      The term “Flash Digital Bank Account” will therefore mean and include the said Flash Primary Account and Flash Savings Account.
      This account is maintained in customer’s name and balances in all savings goals will be credited and maintained in this account as an aggregated balance.
      Interest on the balances lying to the credit in the Flash Savings account will be as per the CBC’s published Public Savings Rates.

The above account is subject to the following features and limitations:

      • This is an interest-bearing Savings Account
      • Public Savings Interest Rate would apply
      • No minimum initial deposit required for account opening
      • No Deposits, Payments or Withdrawals are encouraged to and from this Account. However, if the customer wants to make a withdrawal or a payment out of the funds in this account, customer can always transfer funds to the ‘’Flash’’ Primary Account and carry out the required transfer. However If a customer, demands to withdraw the balances reflecting in his/her savings goals through Flash Savings Account over the counter without transferring funds as aforesaid all such demands will destroy the Flash Digital Bank Account App logic; In such an event the following options are available to the customer ;
      • Customer may close Flash Digital Bank Account and demand balances in both Flash Primary and Flash Savings Accounts.
      • In the event the customer withdraws the balance in the Flash Savings Account as given under 1.9.2.5 above it is the duty of the  customer to delete all outstanding savings goals set up by him/her in the Flash Digital Bank Account app.
      • This product type is entitled only for Sri Lankan citizens residing in Sri Lanka
    • Flash Primary Account for Migrant Workers  : This account will  be opened for non-resident  Customers only. All transactions such as deposits, inward and outward transfers, bill payments, merchant settlements and transferring to any investment account within CBC will originate through this account. “Flash Primary Account for Migrant Workers” Account Number will be indicated on the app for customer’s necessary action. If the Customer is in Sri Lanka, in case of an emergency, Customer may make over the counter withdrawals only through the “Flash Primary Account for Migrant Workers”, Balances in the “Flash Savings Account for Migrant Workers” under different savings goals can be withdrawn only through the “Flash Primary Account for Migrant Workers” after transferring such balances. The above account is subject to the following features and limitations;
      • This is an non interest-bearing Savings Account
      • No minimum initial deposit required for account opening
      • Mode of Deposits 
        • Online Wire/Fund Transfers in LKR
        • Inward Remittances in LKR or in foreign currencies
        • Deposits through Bank’s CDMA/CRM are not allowed. 
      • Over the Counter Deposits can be made to Flash Savings Account for Migrant Workers Accounts at any branch of the Commercial Bank
      • This product type is entitled only for Sri Lankan citizens residing overseas. Who are either Sri Lankans working abroad and or migrant workers. 
      • No debit card will be issued for this account
    • Flash Savings Account for Migrant Workers: All savings targets set by customer through Flash Digital Bank Account Services will be credited for customer’s “Flash Savings Account for Migrant Workers” accordingly.

The term “Flash Digital Bank Account for Migrant Workers” will therefore mean and include the said “Flash Primary Account for Migrant Workers” and “Flash Savings Account for Migrant Workers”.This account is maintained in  customer’s name and balances in all savings goals will be credited and maintained in this account as an aggregated balance.
Interest on the balances lying to the credit in the “Flash Savings Account for Migrant Workers” will be as per the CBC’s published Public Savings Rates.

The above account is subject to the following features and limitations:

      • This is an interest-bearing Savings Account
      • Public Savings Interest Rate would apply
      • No minimum initial deposit required for account opening
      • No Deposits, Payments or Withdrawals are encouraged to and from this Account. However, if the customer wants to make a withdrawal or a payment out of the funds in this account, customer can always transfer funds to the ‘’Flash’’ Primary Account and carry out the required transfer. However If a customer, demands to withdraw the balances reflecting in his/her savings goals through Flash Savings Account over the counter without transferring funds as aforesaid all such demands will destroy the Flash Digital Bank Account App logic; In such an event the following options are available to the customer ;
      • Customer may close Flash Digital Bank Account and demand balances in both Flash Primary and Flash Savings Accounts.
      • In the event the customer withdraws the balance in the “Flash Savings Account for Migrant Workers’ as given under 1.9.4.5 above it is the duty of the Flash customer to delete all outstanding savings goals set up by him/her in the Flash Digital Bank Account app.
      • This product type is entitled only for Sri Lankan citizens residing overseas who are either Sri Lankans working abroad and/ or /migrant workers). 
    • “Flash Contact” means a third party (person or entity) whose contact details have been saved on the contact list of the Customer’s Flash Digital Bank Account.
    • “Flash Debit Card” means the plastic / virtual debit card issued by CBC, which is linked to the Flash Digital Bank Primary Account.
    • “Flash Digital Bank Account System” or “Flash” means the technological creation owned and administered by CBC and its associated partners in relation to the provision of the Flash Digital Bank Account to Customers.
    • “Flash Digital Bank Account Services” means the Financial Services and the Non-Financial Services provided by CBC to Customers through the Flash Digital Bank Account Service as detailed in below (1.14) and 1.15).
    • “Flash Financial Services” means the financial services that are offered to Customers in the Flash Digital Bank Account System, comprised of Fund Receipts, Payment Transactions, Savings, Budgeting and Investments. 
      • Transfer of monies between Customers
      • Transfer of monies from a Customer to the Customer’s Flash Contact
      • Payments by Customers to utility service providers registered with CBC etc.
    • “Flash Non-Financial Services” means the non-financial services that are offered to Customers in the Flash Digital Bank Account Service including the following 
      • Viewing marketing information
      • Viewing promotions and an introduction demo
      • Viewing the CBC’s ATM and branch finder
      • Such other services as may be notified by CBC from time to time
    • “Flash Website” means www.Flashbank.lk
    • “Fund Receipts” means the receipt of monies into Flash Primary Account by way of over-the-counter deposit, ATM/CRM/CDM deposit or fund transfers or in such other manner as may be notified by CBC from time to time.
    • “Minimum Balance” means the minimum balance (if any) to be maintained in the Customer’s Flash Bank Account, which said amount may be notified by CBC to customers from time to time and is subject to change at the sole discretion of CBC.
    • “Mobile Device” means a mobile phone, tablet, phablet or such other mobile device that has the ability to connect to mobile telecom networks and has internet connectivity, subject always to such specification requirements as may be notified by CBC from time to time.
    • “Mobile Number” means the mobile number of the Customer that is registered with CBC  when opening / registering for the Flash Digital Bank Account as a contact number to communicate with CBC.
    • Non Resident Customer means: 
      • A Sri Lankan dual citizen, resident in or out side Sri Lanka
      • Sri Lankan citizen employed abroad, resident outside Sri Lanka (excluding emigrants)
    • “Payment Amount” means the Sri Lankan Rupee amount of a Payment Transaction, together with related fees, other charges and taxes, as applicable.
    • “Payment Instruments” mean the Flash Debit Card ( Only issued to Sri Lankan residents) and Flash Primary Account/Flash Primary Account for Migrant Workers which were registered and issued on the Flash Digital Bank Account, in order to conduct Payment Transactions.
    • “Payment Transaction” means the processing of a payment that results in the debiting, charging or other related transaction of the Payment Amount, to the relevant Payment Instrument of the Customer in relation to the following transactions.
      • Payments made by the Customer to/at Merchants that accept Flash payment services
      • Online payments
      • Withdrawal of funds
      • Such other transactions as may be notified by CBC from time to time
    • “Permitted Foreign Transactions” means inward remittances in foreign currency into the Flash Digital Bank Account and online payments in foreign currency for international transactions via a Payment Instrument, in each case subject to the limitations which are set out by CBC and the Central Bank of Sri Lanka from time to time.
    • “Registration Information” means the information and supporting evidence provided by the Customer to CBC for the purposes of satisfying the requirements applicable to DKYC Process , the opening / registration of a Flash Digital Bank Account, as set out in clause  6 
    • “Terms and Conditions” means these terms and conditions, as may be supplemented, substituted, amended or replaced by CBC from time to time.
    • “Transaction Limit” means the maximum monetary value that can be spent for each Payment Transaction from the Flash Digital Bank Account during a day, which said amount may be notified by CBC from time to time and is subject to change at the sole discretion of CBC.
    • “User Credentials” means user IDs, PINs, passwords generated by CBC and biometric data registered by a Customer for the purposes of accessing the Customer’s Flash Digital Bank Account and/or utilizing the Flash Financial Services. 
      • USER ID will be notified to customers registered mobile via SMS
      • Initial Password will be delivered to registered email address
      • Transaction OTPs will be delivered to both customers registered mobile via SMS and to registered email address.
    • “DKYC” means Virtual know Your Customer process which consists of completing “Know your customer procedure digitally through a Video conferencing method
    • “GPS”means The Global Positioning System
    • “VPN” means Virtual Private Network
    • “DRP”means Department of Registration of Persons in Sri Lanka
    • “Face-to-face identification process means “establishing identity of the customer by producing National Identity card by personally visiting a branch.
    • “Non-face-to-face identification process “means establishing identity of the customer digitally / via a video conference call by uploading identity document
    • “CDM”means Cash Deposit Machines
    • “CRM”means Cash Recycling Machines
    • “ Flash ATM” means Automatic Teller Machines 
    • “IMEI” means International Mobile Equipment Identity

         2. Transactions & Transaction Limits

    • Daily Transaction limit for fund transfers maximum of Rs. 500,000/-
    • Per transaction limit for fund transfers from Flash Digital Bank accounts minimum Rs.1/- & maximum Rs.250,000/-
    • Per transaction limit for fund transfers to Combank Accounts  (non-Flash) minimum Rs.100/- & maximum Rs.250,000/-
    • Per transaction limit for fund transfers to Other Banks,  minimum Rs.100/- & maximum Rs.250,000/-
    • Daily Domestic Debit Card Cash withdrawal maximum limit Rs.300,000/-
    • Overseas Debit Card Cash withdrawal maximum limit Rs.100,000/- per week.
    • Daily Domestic POS limit through Debit Card maximum limit Rs 400,000/-
    • No limitations for transfers between Primary Account to Savings and e-Fixed Deposits
    • Investments will be enabled only through Primary Account (i.e. opening of e-Fixed Deposits) minimum deposit required for opening Flash e-FD is Rs. 25,000/-
    • No limitations applicable for Bill payments from Primary Account to 3rd party service providers (i.e Utility service providers etc )
    • JustPay per transaction limit Rs.50,000/-
    • LANKAQR per transaction limit Rs.200,000/-

         3. The Flash Digital Bank Account System

The Terms and Conditions, together with the instructions, specifications and limitations set out in the Flash Website which are incorporated herein by reference; govern the provision of the Flash Digital Bank Account by CBC to the Customer and the use of the same by the Customer. The Customer agrees to access the Flash Website / Flash Assistance or Contact Center at CBC for further details relating to the provision of the Flash Digital Bank Account Services to the Customer and to contact Flash Assistance in the event that the Customer requires further information. In particular, any amendments or supplements to the Terms and Conditions shall be published on Flash website and notified to the Customer via an electronic message

         4. Commencement of Flash Digital Bank Account

    • It is mandatory that customer should establish his/her identity, residential address and provide KYC related mandatory information through normal face-to-face identification process at a preferred branch or through non-face-to-face identification process via a video conference call.
    • If customer is residing in a different address to the address stated in his/her NIC, it is mandatory to produce a proof of address (an original billing proof i.e. Electricity, Water or Telephone bill) at the time of visiting the branch or during the video conference call.
    • In the event of the Customer’s failure to establish the above CBC will be compelled to discontinue the Flash Digital Bank Account opening process. However, customer can reactivate the Flash Digital Bank Account opening process by completing KYC process either by using Face to face identification process or non-face to face identification process.
    • Services under Flash Digital Bank Account would be similar to the services offered for any other customer of CBC. The Customer is advised to contact Flash Assistance or access the Flash Website for more information about Flash Digital Bank Account

5. Requirements to Register for the Flash Digital Bank Account 

    • A Customer must satisfy the following requirements for the purposes of registering for the Flash Digital Bank Account Services:
      • Customer should be a Citizen of Sri Lanka.
      • Sri Lankan citizen employed abroad, residing outside Sri Lanka for ‘Flash Savings Account for Migrant Workers’ & ‘Flash Primary Account for Migrant Workers’
      • Be a resident of Sri Lanka for all other accounts
      • In addition to the National Identity Card or Drivers License, For Migrant Workers, Customer Shall provide valid passport issued by the government of Sri Lanka and Valid working visa or Resident Card issued by the government of the residing country. 
      • Be over 18 years of age.
        • Possess a Mobile Device with software conforming to the requirement set out on the Flash Website.
      • Mobile Number used for registration should be in the name of the Customer (Customer is not eligible to register for Flash using a mobile registered in another person’s name); and
      • Fulfill all anti-money laundering and “Know Your Customer (KYC)” requirements of CBC.

Note : The Change of Sri Lankan residency status of a Customer would result in the Customer becoming ineligible to utilize the Flash Financial Services

    • The Customer shall provide CBC with sufficient Registration Information in order to satisfy the aforesaid registration requirements. The Registration Information shall be provided in the manner prescribed by CBC from time to time, which shall include the submission of the Registration Information digitally via the Flash App. CBC reserves the right to verify the Registration Information with third parties.
    • For the purposes of satisfying continuing anti-money laundering and “KYC” requirements of CBC, CBC reserves the right to request for additional documentation and supporting information from time to time, even after completion of the registration of a Customer’s Flash Digital Bank Account. CBC may at its sole discretion block or close the Customer’s Flash Digital Bank Account, in the event of a failure to provide satisfactory documentation and supporting information following a request for the same from CBC.
    • The Customer is responsible for providing accurate and genuine Registration Information that relates to only such Customer and no other person. The Customer is responsible for keeping such Registration Information up to date, and notify CBC of any changes
    • CBC reserves the ultimate right to register any person as a Flash Customer.
    • Upon successful registration, customer should activate his/her Flash Digital Bank Account by using face to face identification process or non-face to face identification process to use Flash services.

6. Terms and Conditions only applicable to customers who opt to activate their Flash Digital Bank Accounts through non face to face identification process (DKYC)

    • The customer agrees and gives his/her consent to the bank to verify the details and genuineness of his/her NIC using the DRP portal.
    • The customer agrees and gives his/her consent to the bank for DKYC verification process which includes image capturing video recording of the customer’s face and specimen signature.
    • The customer acknowledges that the bank has the sole discretion to either accept or reject the DKYC verification purpose.
    • The customer further agrees to visit any branch in person as directed by the bank, in the event the bank deems that DKYC procedure was a failure.Based on the availability , Non-resident customers may visit CBC representatives placed in customer’s residing country. 
    • The customer further acknowledges that he/she is registering for the FLASH from the same location as shown on the GPS of the Device that is used for such registration.
    • The customer acknowledges that he/she is not registering for the app using any VPN connection.
    • The Customer certifies that the image of the signature placed by him/her which has been captured by the bank through the video recording is the signature used by him/her.  
    • The customer authorizes the Bank
      • To act on signed instructions and documents drawn or accepted in accordance with the signature placed on documents transmitted to the bank via the service in view of the camera and further to act on the instructions provided in person during the video conferencing call. 
      • To carry out the process without a physical mandate through the newest implementation and to adhere with the new digitized technology aspects.
      • To record the video, save and use the video to assess and improve the quality of service.
      • To produce the video in the custody of the Bank to courts, regulatory body or any authority subject to the regulations of the country in the event of any dispute, fraud or law determines the requirement of same.
    • Any information and/or instruction given through video call will not be challenged by the customer at any later stage and the customer further agrees to fully indemnify the Bank against any form of loss demands, claims and actions/charges/expenses made upon, and make good of any loss or damage suffered / incurred by the Bank as the case maybe by accepting instructions through digital form and carrying out instructions and acting upon same and agree in recovering any mount due to the Bank or incurred by the Bank in any legal proceeding of whatever nature.
    • The customer hereby agrees to the above in addition to the General Terms and Conditions provided by the Bank when on-boarding.

7. Flash Financial Services

    • Other than Permitted Foreign Transactions, the Flash Financial Services must be strictly used only for the purpose of completing domestic transactions in Sri Lanka Rupees.
    • The Flash Financial Services must be used only for lawful and legitimate purposes and only for conducting the transactions & Transactions limits as specified in these Terms and Conditions and on the Flash Website.
    • Once the Customer’s Payment Instrument has been authorized, the relevant Payment Transaction is deemed completed and discharged. In addition to these terms and conditions, Payment Transactions conducted through Payment Instruments are subject to the terms and conditions between the Customer and the relevant financial institution and/or the issuer (in the case of a debit).
    • In addition to the fees and charges of CBC, the Customer is liable for any charges and fees that maybe imposed under the Payment Instrument terms and conditions, as a result of the Customer’s use of a Payment Instrument.
    • The Customer is solely responsible for updating and renewing the Payment Instruments in a timely manner, in order to have uninterrupted use of the Flash Financial Services.
    • All Transactions processed through the Flash Digital Bank Account are non-refundable and are non-reversible by the Customer through the Flash Digital Bank Account.
    • CBC will monitor and supervise transactions that take place using the Customer’s Flash Digital Bank Account and Payment Instruments linked thereto. In the event there are suspicious, unlawful or unintended transactions taking place through the Flash Digital Bank Account and/or the Payment Instruments linked thereto, CBC reserves the right to reverse or suspend such transactions, including the right to suspend the availability of the Flash Digital Bank Account, without giving notice to the Customer. In such circumstances the CBC reserves the right to restrict the Customer’s access to the Flash Digital Bank Account.
    • CBC will report suspicious transactions to the Financial Intelligence Unit (“FIU”) established under the Financial Transactions Reporting Act Number 6 of 2006 and any other law enforcement authorities and Regulators as the case may be.
    • CBC is required to report to the FIU in such manner as may be prescribed by the FIU, every cash transaction and electronic fund transfers in any manner (including inward and outward remittances, SLIP/CEFT transfers, RTGS transactions, debit card transactions exceeding the sum specified by Regulations.
    • Customer will be entitled to earn interest on the funds lying to the Customer’s credit in the Flash Savings Account and Flash e-Fixed Deposits at CBC’S published rates and are payable in any manner, as may be notified by CBC from time to time at the sole discretion of CBC. The Customer may be r entitled to bonus interest and other rewards on the Flash Digital Bank Account, from time to time at the sole discretion of CBC.
    • Customer will not be entitled to earn any interest on the funds lying on the Primary Account to the Customer’s credit in Flash Digital Bank Account Service.
    • The Customer agrees to maintain the Minimum Balance (if any) in the Flash Bank Account.
    • In the event the FIU/any other Law Enforcement Authorities /Regulator instructs CBC not to carry out any transaction, CBC will suspend the transaction and allow the FIU/ such Authority/ Regulator to make necessary inquiries.
    • CBC has no obligation to inform the Customer of any action taken by CBC in relation to the above and CBC will not be liable or responsible to the Customer in respect of any such action taken by CBC.
    • Flash Financial Services will be utilized by Customers only for the purpose of completing personal transactions and no transactions with commercial intent or association must be carried out through Customer’s Flash Digital Bank Account.
    • Customer will be subject to and shall comply with the applicable Merchant Limit, Transaction Limit and Daily Limit as may be imposed by CBC. The Customer has the option of imposing their own Daily Limit and Transaction Limits, provided that such limits are within the applicable Merchant Limit, Transaction Limit and Daily Limit.
    • The Customer agrees to have the Mobile Device in his/her possession at the time of initiating a Payment Transaction and agrees to accept or reject the Payment Transaction via a verification message sent to the Mobile Device by CBC.

8. Payment Instruments

    • The Customer may link Payment Instruments from other banks/financial institutions to the Customer’s Flash Digital Bank Account, in accordance with CBC’s specifications as shall be set out on the Flash Website. Once a Payment Instrument has been successfully linked to the Customer’s Flash Digital Bank Account, CBC will store the relevant account/card numbers as may be required to provide the Flash Digital Bank Account to the Customer. The Customer acknowledges that CBC is not a party to any agreement between the Customer and such other bank/financial institution in relation to the Payment Instruments and is not involved in issuing credit facilities or determining eligibility for credit facilities. CBC does not make any representation or warranty that any of such Payment Instruments are in good standing or that relevant bank/financial institution will authorize or approve any Payment Transaction carried out by the Customer through the Flash Digital Bank Account System. Also, CBC is not responsible to the customer to verify the authenticity of such Payment Instruments from other banks/financial institutions.
    • The Customer’s use of the Flash Digital Bank Account with a given Payment Instrument is governed by these Terms and Conditions as well as the applicable terms/privacy policy from the bank/financial institution where the relevant Payment Instrument is opened/issued. These Terms and Conditions do not modify or alter such terms or privacy policy. In the event of any inconsistency between these Terms and Conditions and the relevant bank/financial institution’s terms, these Terms and Conditions shall prevail.
    • With the linking of the Payment Instruments to the Customer’s Flash Digital Bank Account, the Customer authorizes CBC to debit and credit such Payment Instruments for the purposes of utilizing the Flash Financial Services. The Customer represents warrants and undertakes to CBC that the Customer will ensure that operating instructions relating to the Payment Instruments will be consistent with the Customer’s use of the Flash Digital Bank Account Services.
    • By choosing to link Payment Instruments to the Customer’s Flash Digital Bank Account, the Customer acknowledges and consents to CBC to submit details of such Payment Instruments and related information to third parties in order for such parties to recover charges on account of goods or services supplied by such parties to the Customer. CBC will not have any further involvement with such parties other than passing the required details. CBC will not be held responsible for any issues arising out of such third-party transactions. The Customer will have to resolve any dispute that may arise with third parties or financial institutions which has issued / opened such payment instruments. f) The Customer is responsible for the maintenance of accurate information regarding the Payment Instruments in the Flash Digital Bank Account (such as expiration dates, updated card nos. etc). The Customer represents and warrants to CBC that the Customer has all rights and authority to register the Payment Instruments with the Customer’s Flash Digital Bank Account.

9. Undertakings of the Customer

    • The safety of the Mobile Device shall lie with the Customer.
    • The Customer shall maintain the confidentiality and security of the Flash Digital Bank Account System and the Customer’s Flash Digital Bank Account which shall include the following actions:
      • Storing the Mobile Devices in a secured manner
      • Keeping User Credentials confidential; and
      • Keeping the IMEI codes used to access the Flash Digital Bank Account separately from the User Credentials.
    • The Customer shall immediately report the loss of any Mobile Device to CBC by calling Flash Assistance and following the instructions provided by CBC.
    • In the event of the loss of any Mobile Device and/or where the confidentiality and security of the Customer’s Flash Digital Bank Account is likely to have been or will be compromised, it is the sole responsibility of the Customer to bring such instances to the notice of CBC immediately. In particular, the Customer shall promptly call Flash Assistance to report such event to CBC and shall follow the instructions provided by CBC to the Customer in order to rectify or otherwise deal with the issue. Without prejudice to any other clauses in these Terms and Conditions, the Customer acknowledges that the Customer shall be solely responsible for any transactions which have been done by any person whether authorized or unauthorized, through the Customer’s Flash Digital Bank Account by reason of the Customer failing to maintain the confidentiality and security of the Customer’s Mobile Device, User Credentials   and/or Flash Digital Bank Account.
    • All transactions once completed using the applicable User Credentials of a particular Customer’s Flash Digital Bank Account on the Flash Digital Bank Account System are conclusive and binding on such Customer and the Customer shall be liable in respect of such transactions. It is the Customer’s responsibility to ensure that no other person has access to the Customer’s Flash Digital Bank Account and/or the related User Credentials.
    • The Customer shall be responsible for any and all transactions by persons that the Customer authorizes to access the Customer’s Flash Digital Bank Account or otherwise use the User Credentials, and for any and all consequences of use or misuse of the User Credentials.
    • It is the responsibility of the Customer to confirm the accuracy of all information entered into the Flash Digital Bank Account System to ensure that the Customer’s intended transactions are properly carried out.
    • CBC shall not seek further confirmation on the authenticity of any transactions effected through the Flash Digital Bank Account and CBC will not be liable for carrying out instructions that are validated by the applicable User Credentials of a Customer.
    • Without prejudice to any other provision in these Terms and Conditions, the Customer specifically acknowledges that CBC shall not be liable in any manner whatsoever for the Customer’s failure to complete a transaction on the Flash Digital Bank Account System in the following instances and in any other instances as specified in applicable laws: 
      • the transaction is not within the scope of the Flash Financial Services provided to the specific Customer.
      • in its absolute discretion, CBC is of the view that the transaction is suspicious or illegal.
      • the transaction breaches the Merchant Limit, the Daily Limit or the Transaction Limit.
      • a Merchant refuses to honor the transaction.
      • the Customer does not have enough funds available in the relevant Payment Instrument to affect the transaction.
      • if the Mobile Device used by the Customer is incompatible with the Flash Digital Bank Account System or is in any way defective or fails to meet the required specifications for using the Flash Digital Bank Account System.
      • if a Merchant’s equipment through which the transaction is being or attempted to be processed is not working properly.
      • failure to renew a Payment Instrument.
      • if the transaction information supplied by the Customer or a third party is incorrect or untimely; or
      • if the Flash Digital Bank Account System is unavailable for use at any time, due to circumstances beyond CBC’s control (including but not limited to technical breakdowns and the occurrence of an event of force major).
    • The Customer acknowledges that all Payment Transactions conducted through the Flash Digital Bank Account System are affected in real time. Accordingly, other than expressly specified in the terms and conditions applicable to the individual Payment Instruments, CBC does not undertake to stop or reverse any Payment Transaction once the Customer has entered into it.
    • The Customer will not hold CBC liable for any transaction which the Customer has entered into with Merchants using the Flash Digital Bank Account System. It is the responsibility of the Customer to take steps to confirm the completion of all aspects of a transaction as at the point of such transaction (that is, the physical payment or acceptance of cash or the provision of goods/service must be carried out simultaneously with the respective transaction being carried out through the Flash Digital Bank Account System).
    • CBC shall not accept any liability for any delays, or the quality of goods and services provided by a Merchant.
    • CBC shall be entitled to promote any of its products or any third-party products to the Customer through the Flash Digital Bank Account System.
    • CBC reserves the right to display CBC’s marketing material electronically on the Flash Digital Bank Account System.
    • The customer undertakes to carry out digital/electronic/ over the counter transactions by registering for the Flash
    • The customer agrees that all instructions given via the service are irrevocable and binding on him/her upon transmission and the Bank shall be entitled to effect, perform or process such instructions without further references or notice to me and once the consent is submitted or confirmed is irrevocable and non-repudiative. 
    • The customer understands the Bank will act on the instruction given by him/her on an online basis or offline basis and agree to provide accurate, true and correct date/information and further neither the Bank nor its officers will be held liable or responsible for financial or any forms of losses that may arise with inaccuracies in data.

10. No Endorsement of Products

    • the reliability or performance of any Merchant or third-party provider (including telecom operators and financial institutions whose bank accounts, debit cards and credit cards are linked to the Flash Digital Bank Account System);
    • the safety, quality, accuracy, reliability, integrity or legality of any product, service, offer, loyalty program, or other items that may be stored and/or redeemed on the Flash Digital Bank Account System, or of any advice, opinion, offer, proposal, statement, data or other information (collectively, “Content”) displayed or distributed, purchased or paid through the Flash Digital Bank Account System; or
    • the Customer’s ability to buy or redeem products and services using the Flash Digital Bank Account System.
    • for any errors or omissions in any Content in the Flash Digital Bank Account System. CBC reserves the right, but shall have no responsibility, to edit, modify, refuse to post or remove any Content, in whole or in part, that in its sole and absolute discretion is objectionable, erroneous, illegal, fraudulent or otherwise in violation of the Terms and Conditions.

11. Notifications, Instructions and Prescribed Manner

    • Notifications by CBC in relation to the Flash Digital Bank Account System (including changes to the Terms and Conditions, publication of fees and charges and operational instructions for the use of the Flash Digital Bank Account System) may be made/given by CBC from time to time by way of text message to the Mobile Number, email to the Customer’s registered email address, notifications through the Flash App, publication on the Flash Website or in any other manner deemed appropriate by CBC at its sole discretion. Notifications will be binding on the Customer as soon as the notification has been sent. The Customer agrees and consents to receive such notifications electronically and it is the Customer’s responsibility to open and review such notifications of CBC through the methods described above.
    • Instructions, requests or notifications sent by the Customer to CBC will be considered received only when the request has been received by an authorized office or officer of CBC in the manner prescribed by CBC on the Flash Website and CBC has had reasonable time for acting upon such notification.
    • Any instructions to block, modify, vary or recommence the operations of the Flash Digital Bank Account shall take place only after such instructions have been verified by CBC. And such recommencing of operations will be done at the sole discretion of CBC. However, CBC has no liability any party for any losses arising from such instances.
    • CBC will provide instructions and information through Flash Assistance and the Flash Website as to the prescribed manner and format in which the Customer is to notify CBC of specified events including but not limited to the reporting of lost mobile phones and termination of services notifications. In the case of Flash Digital Banking account for Migrant workers, the customers should notify CBC if they resign from foreign employment and/ or change the country of employment as the case maybe. 
    • Statements: Flash Primary Account and Flash Primary account for Migrant workers will get a transaction statement in digital format and Flash Savings account will always carry the aggregated savings goals balance and bank will only provide a statement on Flash Savings Account at customer’s demand.
      • Any objection the Customer may have concerning the inaccuracy or incompleteness of a periodic transaction and balance statements provided by the Flash app, must be raised promptly by the Customer, but in any event, must be received by CBC in writing within thirty (30) days following receipt of such statement by the Customer, in the absence of which such transaction will be deemed to be correct and binding on the Customer.
      • The Customer must immediately examine transaction history and balance of the Flash Digital Bank Account (referred to above), transaction statements, advices, execution of orders and such other statements and information relating to transactions over the Flash Bank Account, as to their accuracy and completeness and immediately notify CBC in writing of any objection, in the absence of which, the statements, advices and information will be deemed binding on the Customer.

12. Dispute Resolution

    • CBC will establish Flash Assistance for the purposes of responding to customer inquiries, disputes and receive complaints (together referred to as a “Dispute”).
    • In the event of there being a Dispute with regard to the Flash Digital Bank Account Services, the Customer shall report same to CBC by calling Flash Assistance. A reference number will be assigned to each Dispute and the Dispute will be forwarded to the relevant department or division of CBC for inquiry and further action.
    • CBC will respond to the Customer on the Dispute within three (3) working days from the date of the Dispute being reported. In the event that CBC is unable to conclude the inquiry into the Dispute within this time period, then CBC will within such period of three (3) working days provide the Customer with an interim response and a final response will be given thereafter. In the event CBC concludes that the Customer’s complaint is legitimate, CBC will take steps to resolve the Dispute. CBC may respond to a Dispute verbally or in writing. All Disputes will be responded to in the same language as the language in which it was reported.
    • The Flash Digital Bank Account will be governed and construed in accordance with the Laws applicable in Sri Lanka and any dispute there under will be finally resolved within of Sri Lankan courts.

13. Suspension or Termination

    • If the Customer wishes to deactivate or remove any Payment Instrument from the Flash Digital Bank Account, the Customer may do so by contacting Flash Assistance and following the instructions provided therein
    • The Customer shall pay any outstanding Charges and/or Levies, prior to deactivation or termination of the Flash Digital Bank Account. Failure to do so will compel CBC to debit the Flash Digital Bank Account or any other bank account opened by the Customer with CBC to recover such Charges and/or Levies.
    • The Customer will not be able to use the Flash App and the Flash Debit Card after the deactivation of the Flash Digital Bank Account.
    • All  and Flash Debit Card will be closed and cancelled on the closure of a Customer’s Flash Digital Bank Account.
    • CBC shall have the right, in its sole and absolute discretion suspend or terminate any one or more of the Flash Digital Bank Account Services, including the Flash Digital Bank Account at any given time and for any reason whatsoever by giving ten (10) days’ notice or at any time at its discretion without prior intimation.
    • The Customers liability with regards to any transaction done prior to the closure or suspension of any one or more of the Flash Digital Bank Account , will continue until such time such transactions are concluded. On termination, CBC reserves the right to prohibit the customer to access the Flash Digital Bank Account Services, including without limitation, by deactivating the User Credentials and to refuse future access to the Flash Digital Lifestyle Services.
    • CBC reserves the right, in its sole and absolute discretion without liability to the Customer or any third party, to impose general practices and limitations concerning the use of the Flash Digital Bank Account Services, including to restrict access to some or all of the Flash Digital Bank Account
    • CBC reserves the right, in its sole and absolute discretion without liability to the Customer or any third party, to deactivate Flash and its services if customer is found guilty of providing false information during the registration process
    • In the event that the Flash Digital Bank Account is terminated for any reason other than for breach of the Terms and Conditions by the Customer or contravention of applicable laws and regulations (including but not limited to anti money laundering legislation) by the Customer, CBC will disburse any funds lying to the credit of the Customer’s Flash Digital Bank Account (less any Charges or Levies) by way of a transfer to such account as may be specified by the Customer (any costs relating to such transfer being borne by the Customer) or in cash where a Customer personally visits any branch of CBC.
    • In the event the Flash Digital Bank Account is closed by reason of breach of the provisions of the Terms and Conditions by the Customer or by reason of contravention of applicable laws and regulations (including but not limited to anti money laundering legislation) by the Customer, CBC will be entitled to withhold payment of funds in the Customer’s Flash Digital Bank Account until the completion of any investigation and/or prosecution conducted in relation thereto and/or make payments in such manner as may be prescribed by a regulatory authority. CBC may at its absolute discretion without prior notice cancel the Customer’s access to the Flash Digital Bank Account System and/or refuse to provide access to the Customer to create a new Flash Digital Bank Account in the future, if CBC is of the view that the Flash Digital Bank Account System is being used for illegal or unauthorized activities and/or purposes.
    • In the event that the Flash Digital Bank Account is closed all Flash debit cards will get automatically cancelled.

14. Indemnity

The Customer hereby indemnifies, defends and holds harmless CBC and its subsidiaries and other affiliates, and its and their directors, officers, owners, agents, co-branders or other partners, employees, information providers, licensors, licensees, consultants, contractors and other applicable third parties (including without limitation, Merchants, other financial institutions and other Customers) (collectively “Indemnified Parties”) from and against any and all claims, losses, demands, causes of action, debt or liability, including without limitation to damages  reasonable attorney’s fees and costs incurred by the Indemnified Parties arising out of, related to, or which may arise from:

    • the Customer’s use of the Flash Digital Bank Account Services.
    • the Customer’s negligence or default in using the Flash Digital Bank Account Services.
    • any breach or non-compliance by the Customer of any of the Terms and Conditions.
    • any dispute or litigation caused by the Customer’s actions or omissions; and/or
    • the Customer’s violation or alleged violation of any applicable laws or rights of a third party.

15. Disclaimers and Limitations of Liability

    • The Flash Digital Bank Account Services, including all content, software, functions, materials, and information made available or , provided in connection with or accessible through the Flash Digital Bank Account System, are provided “as is.” Basis. To the fullest extent permissible by law, CBC and its subsidiaries and other affiliates, and their agents, co-branders or other partners, including but not limited to, device manufacturers (collectively, ” CBC parties”), make no representation or warranty of any kind whatsoever for the services or the content, materials, information and functions made accessible by the software used on or accessed through the Flash Digital Bank Account System, or for any breach of security associated with the transmission of sensitive information through the Flash Digital Bank Account System. Each CBC party disclaims without limitation, any warranty of any kind with respect to the services, non-infringement, merchantability, or fitness for a particular purpose. The CBC parties do not warrant that the functions contained in the Flash Digital Bank Account System will be uninterrupted or error free. The CBC parties shall not be responsible for any service interruptions, including, but not limited to, system failures or other interruptions that may affect the receipt, processing, acceptance, completion or settlement of payment transactions, person to person payments or the Flash Digital Bank Account Services.
    • The CBC parties are not responsible for the accuracy of any information relating to any Payment Instrument, including, without limitation, whether such information is current and up to date. Without limiting the generality of the preceding sentence, the Customer expressly acknowledges and agrees that such information is reported by the issuer as of a particular time established by the issuer and may not accurately reflect the Customer’s current transactions, available balance, or other account or program details at the time they are displayed to the Customer through the Flash Digital Bank Account System or at the time the Customer makes a purchase or redemption. The Customer may incur fees and other charges as a result of such transactions and/or or the Customer’s attempt to make a purchase or redemption may not be successful.
    • In no event shall any CBC party be responsible or liable to the Customer or any third party under any circumstances for any indirect, consequential, special, punitive or exemplary, damages or losses, including but not limited to damages for loss of profits, goodwill, use, data, or other intangible losses which may be incurred in connection with any CBC party or the Flash Digital Bank Account System, or any goods, services, or information purchased, received, sold, or paid for by way of the Flash Digital Bank Account System, regardless of the type of claim or the nature of the cause of action, even if CBC party has been advised of the possibility of such damage or loss. In no event shall CBC parties total cumulative liability arising from or relating to the Terms and Conditions exceed the value of the Payment Transaction relating to the claim.
    • The Customer acknowledges that he accepts these Terms and Conditions relying on the limitations of liability stated herein and that those limitations are an essential basis of the bargain between CBC and the Customer. In addition to and without limiting any of the foregoing, the Customer acknowledges that no CBC party shall have any liability for any failure or delay resulting from any condition beyond the reasonable control of such party, including but not limited to governmental action or acts of terrorism, earthquake, fire, flood or other acts of God, labor conditions, power failures and internet disturbances.

16. Miscellaneous

    • Incorrect entries to the Flash Digital Bank Account may be reversed, corrected or cancelled by CBC through a further entry (“reverse entry”), whether prior to or after the issue of the next periodic balance statement. With respect to the calculation of interest (or other return), CBC will effect the entries retroactively as of the day on which the incorrect entry was made.

17. Special Conditions governing Remittance to Flash Digital Bank Accounts

    • The Customer agrees with the following special terms and conditions governing the Remittances:
    • Remittances/drafts in foreign currency from the Flash Digital Bank Account will be dispatched entirely at the risk of the Customer.
    • CBC will normally convert the remitted funds into the currency of the remittance on the day such funds are actually received by CBC, at CBC’s selling rate. However, the dates of conversion and transfer are entirely at CBC’s discretion.
    • In the event of a cancellation of a remittance, a refund will be made only on the basis of the amount actually received from the correspondent bank, and at CBC’s buying rate on the day of the refund. CBC will be entitled to obtain a reimbursement from the Customer of the expenses so incurred on itself and its correspondents or agents. All cancellation charges, levies and commissions collected are not refundable.
    • CBC will not be liable for any loss or damage due to delay in payment or in giving advice of payment, loss of items in transit or otherwise, mutilation, error, omissions, interruption or delay in transmission or delivery of any items, letter, or actions of CBC’s correspondents or agents.
    • The Customer will enter into each foreign currency transaction with full awareness that foreign currency transactions could involve foreign exchange risks for which CBC will not be liable.
    • If CBC is holding funds due to the Customer arising from a transaction processed using any service described herein, and CBC is unable to contact the Customer and has no record of the Customer’s use of the service for a period determined by applicable law, CBC may be required to report and ultimately handover these funds to regulators such as the Central Bank of Sri Lanka as unclaimed or abandoned property. CBC reserves the right to deduct a dormancy fee or other administrative charges from such unclaimed funds, as permitted by applicable laws.
    • The Flash Digital Bank Account is deemed to be dormant when there has been no Customer originated activity in the account for twenty four (24) months or if for any other reason CBC considers dormant classification appropriate. CBC may prior to re activating a dormant account at the request of the Customer, interview the Customer and obtain clarification regarding the dormant status and the Customer will provide such clarifications to CBC or else CBC will provide 14 days notice prior to de-activating the Flash Digital Bank Account Services.
      CBC may at its discretion require the Customer to submit to CBC, documents specified by CBC, prior to re-activating the dormant Flash Digital Bank Account.
    • In the event the Flash Bank Account is classified as dormant, CBC will have the right to refuse transactions on such account, including payment of cheques drawn on such account, until it is satisfied that such dormant status should be removed
    • Subject to and in accordance with applicable laws (in particular Section 544 of the Civil Procedure Code), the Customer may nominate a beneficiary to claim and be transferred or paid all monies lying to the credit of the Customer’s Flash Digital Bank Account (after the payment of all outstanding fees and charges) on the death of the Customer.
    • The reporting and payment of any applicable taxes arising from the use of the Flash Digital Bank Account System shall be the Customer’s responsibility. The Customer shall comply with any and all applicable tax laws in connection with the use of the Flash Digital Bank Account System.
    • CBC reserves the right, in its sole and absolute discretion to change, modify or amend any portion of these Terms and Conditions at any time, with or without notice to the Customer.
    • CBC reserves the right, in its sole and absolute discretion to alter or modify the Flash Digital Bank Account at any time, with or without noticeto the Customer.
    • The Customer hereby authorizes and consents to CBC recording and/or disclosing information regarding the Customer, any transactions of the Customer and/or any Payment Instruments, for such purpose/s, as CBC in its sole discretion deems fit.
    • The Customer may not assign the Flash Digital Bank Account or any rights or obligations under the Terms and Conditions, by operation of law or otherwise, without CBC’s prior written approval and any such attempted assignment shall be void. CBC reserves the right to freely assign the Terms and Conditions and the rights and obligations hereunder, to any third party without notice or consent. Subject to the foregoing, these Terms and Conditions shall be binding upon and inure to the benefit of the parties hereto, their successors and permitted assigns.

In addition to the above terms and conditions the following Terms and Conditions will apply to Flash ATM facility .
The customer acknowledges and agrees that;

  1. At all times the Automated Teller Machine (ATM) Card is the property of the CBC and to surrender it unconditionally and without reservation upon demand by the CBC.
  2. At no time to use or attempt to use the Card unless there are sufficient funds in the card holder’s account to cover the withdrawal or transfer.
  3. Not to use or attempt to use the Card after any notification of its cancellation or withdrawal has been given to the customer by CBC or by any person acting on behalf of CBC.
  4. CBC will not be responsible for the Card not being honored for any reason whatsoever.
  5. If no longer required or in the event of a closure of the customer’s account with the CBC to return the Card to CBC for cancellation.
  6. All Card transactions effected in currencies other than Sri Lankan Rupees will be debited to the Card Account after the conversion into Sri Lankan Rupees at a rate of exchange determined by the exchange rate adopted by Visa/MasterCard International on the date of conversion, plus an additional percentage levied by the CBC and any transaction fee(s) charged by Visa Card International from CBC.
  7. Cash and/or cheques deposited to the account through the Card will only be credited to customer’s account after verification by the CBC. The statement issued by the ATM at the time of deposit will only represent what I is purported to have been deposited and shall not be binding on the CBC. The CBC’s count of the amount contained in the envelope shall be final and conclusive.
  8. Cheques will be accepted for collection only and the proceeds will not be available for drawing until the cheques are cleared and realized.
  9. The customer undertakes not to use the card to make payment for purchases of real estate or financial assets overseas.
  10. Other than these Terms & Conditions imposed by the CBC on the usage of the Card, the customer will also be governed by the rules and regulations imposed by VISA , MASTERCARD ,UNIONPAY and any other card issuer on the usage of the card.
  11. The following Declaration is made by the Customer to the Controller of Exchange, Sri Lanka :-

I declare that all details given above by me on this Form are true and correct. I hereby confirm that I am aware of the conditions imposed under the Foreign Exchange Act No; 12 of 2017 and the notice published in the Extraordinary Gazette No: 1411/5 of 19th September 2005 subject to which the card may be used for transactions in foreign exchange and I hereby undertake to abide by the said conditions.

I further agree to provide any information on the transactions carried out by me in foreign exchange on the Card issued to me, as Commercial Bank of Ceylon PLC may require for the purpose of Foreign Exchange Act. I also confirm that I undertake to surrender the Card/s to Commercial Bank of Ceylon PLC, if I migrate or leave Sri Lanka for employment abroad. I am aware that the authorized dealer is required to suspend availability of foreign exchange on EFTC if reasonable grounds exist to suspect that unauthorized foreign exchange transactions are being carried out on the EFTC issued to me.I also affirm that I undertake to surrender the EFTCs to the bank, if I migrate or leave Sri Lanka for permanent residence or employment abroad, as applicable. Further, I also agreed to notify my change in residential status to the bank, if any, accordingly.

By clicking on the “I Accept” button below, the Customer acknowledges and confirms the following:
‘’Having read and understood the terms and conditions and the features of the Flash Digital Bank  Account/ Flash Remittance Digital  Bank Account, I hereby agree to be bound by such terms and conditions’

Flash Digital Bank Account Terms & Conditions V 1.7 15022023