Terms and Conditions for use of PayNow with Bank of China Limited, Singapore Branch

These terms and conditions ("Terms") shall govern your use of PayNow provided by Bank of China Limited, Singapore Branch (“BOC” or “Bank”). These Terms are to be read in conjunction with the General Terms and Conditions governing Accounts, the Terms and Conditions governing Electronic Banking Services and such other terms and conditions as may be expressly stated in these Terms. Unless otherwise stated, in the event of any inconsistency in these Terms and any other terms and conditions in relation to the BOC PayNow Service, these Terms shall prevail.

Section 1

Definitions

For purposes of these Terms, the following words and expressions shall, unless the context otherwise requires, have the following meanings:

Section 2

The BOC PayNow Service allows you to link an Account that you have with the Bank to your:

so that you have the option to receive incoming funds to your Linked Account using your NRIC or Mobile Number as a reference, together with a Nickname that you create.

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A. PayNow Registration

In order to receive funds via PayNow, you must complete your PayNow Registration with the Bank. If you intend to make a PayNow Transfer only, you do not need to complete a PayNow Registration.

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B. Updates after your PayNow Registration

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C. Receiving funds via PayNow

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D. Your PayNow information

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E. PayNow Transfers

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E1. P2P PayNow Transfers

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E2. Merchant PayNow Transfers

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Section 3

Limitation of Liability and Indemnity

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Section 4

General

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