This Agreement signifies the contract between the Customer and The Bank which governs the use of GBTI Online Banking. The latest version can be accessed on the Bank’s website.
1. GBTI Online Banking Services
The Bank provides various services that can be accessed electronically via the GBTI Online Banking Platform. Transactions or requests processed through this platform will be processed to your account(s).
2. Access to Services & Transaction Processing
The User will be granted access on successful submission of the Electronic Signature.
All transactions received through GBTI Online Banking will be considered authorized by The User without additional verification. Transactions will be processed only if funds are available to cover the transaction and any relevant charges.
Any balance shown through GBTI Online Banking, if not otherwise specified, will reflect the available balance based on the debits and credits processed on The User’s account at the time of enquiry. The User acknowledges that the available balance shown may not be the actual available balance. Differences in the reflection of the available balance may be caused by deposits still subject to verification by the Bank, outstanding cheques not yet posted or other withdrawals, payments, holds or charges.
The User is solely responsible for any amount(s) entered and the accuracy of any information inputted or provided to process a transaction. The Bank will not be liable for any consequences or losses resulting from inaccuracies on the part of The User.
The Bank, from time to time will set or change limits for transactions carried out by The User through GBTI Online Banking. Notification of changes will be in accordance with the regulatory requirements and the laws of Guyana.
Any foreign currency transaction will be converted at the market exchange rate determined by the Bank at the time the transaction is posted to The User’s Account.
The User acknowledges that the application of bill payments is the responsibility of the vendor and not GBTI. The Bank will not be liable for any loss or damages that may be incurred because of delayed transmission, late application, or misapplication of a bill payment.
3. Electronic Transactions
Scope
This section applies to all electronic transactions processed by the Bank, including but not limited to:
- Wire transfers
- Electronic Funds Transfers (EFT)
- Real Time Gross Settlement (RTGS)
- Online and digital banking transactions
- Bulk payment uploads (e.g., payroll, dividends, pensions)
- Any future electronic or digital banking services introduced by the Bank.
All electronic transactions will be processed in accordance with applicable laws and the rules set by the Central Bank of Guyana or any other relevant regulatory authority.
Authorization & Instructions
I authorize the Bank to act upon instructions for electronic transactions communicated through:
- In-person requests
- Physical or electronic letters of instruction (including e-mail)
- The Bank’s online or digital platforms (such as GO BANKING)
The Bank reserves the right to verify instructions and may delay processing until verification is completed. If contact cannot be made for verification, the Bank may hold the transaction until such contact is established.
4. Eligible Accounts
1. Retail Users
All accounts with a single signatory controlled by The User are eligible accounts. Accounts with special signing instructions are accessible in view only mode.
2. Corporate Users
All corporate accounts with a single signatory controlled by The User are eligible accounts. Accounts with specific signing instructions or multiple signatories can be classified as eligible accounts. However, The User assumes full responsibility for the management of access to such account (s) and the enforcement of the account (s) mandate via The User Admin function.
5. Change in Authorized Signatory/Mode of Operation of Account(s)
The User undertakes to promptly inform the Bank of any change(s) in the signatories, signing authority, assigned agents or the mode of operation of account(s) that are linked to the GBTI Online Banking Services.
6. Hours of Service
Users can access GBTI Online Banking Services through the Bank’s website and Mobile Application. This service is fully accessible 24 hours daily. The maintenance of the system is done periodically, and this may affect access temporarily. Where possible The Bank will provide notice of service interruptions via print or electronic media.
The User understands that some transactions initiated via GBTI Online Banking will require internal and regulatory checks that may delay the processing of the transaction. The User accepts that transactions requested via GBTI Online Banking may be processed by the Bank on the next available time after the instruction was received, reviewed, and approved.
7. Fees, Charges and Closure
Transactions processed through GBTI Online Banking will attract the applicable transaction charges. The User authorizes The Bank to debit the associated eligible account for all charges related to the processing of instructions received through GBTI Online Banking.
The Bank reserves the right to:
(1) Institute at its sole discretion fees for the use of GBTI Online Banking. The Bank will provide reasonable notice of all changes in fees and charges.
(2) Suspend or close the account without prior notice for AML/CFT non-compliance and/ or risk-related matters. Notification in this regard will be provided as soon as practicable via a suitable medium identified by the Bank.
(3) Disclose Customer Information and Personal Data to certain other third parties, including (without limitation) SWIFT, any country’s central bank, auditors or a governmental/ regulatory authority in order to meet the legal requirement of its Service Agreement and to comply with other applicable laws, regulations and governmental processes. In such cases, I undertake and agree to indemnify the Bank and its correspondent bank (s) fully and hold them harmless from and against all liabilities, loss, cost, actions, charges, damages, expenses, claims and demands which may be made against me as a result of such disclosures.
Upon account closure, any remaining credit balance will be paid to the account holder after deducting outstanding amounts due from you.
All ATM cards, cheque books, and account-related materials remain the property of the Bank and must be returned upon request or account closure.
The Bank may communicate changes to the terms via public notices, such as mass media advertisements. The period of notice given will be determined by the circumstances and /or related considerations deemed appropriate.
8.
1. Electronic Credentials
The User agrees to keep the Electronic Credentials confidential. This is to prevent unauthorized access and use of the associated account(s).
If The User suspects the Electronic Credentials have been compromised, it is the responsibility of The User to immediately change the Electronic Credentials or contact The Bank to request the Electronic Credentials be disabled. The User is liable for all transactions processed using the Electronic Credentials before they are disabled.
The Customer is required to notify the Bank or update his/her user profile to reflect any change in mobile number or email address. The User may send a written notice or visit any of our branches in person to update the records. For Corporate users, this function can be performed by the Administrator if configured.
2. Use of Resources
By accessing GBTI Online Banking, The User hereby acknowledges that he/she is entering a protected website owned by the Bank, which shall be used only for authorized purposes. The Bank may monitor and audit usage of the System, and all persons are hereby notified that use of the Services constitutes consent to such monitoring and auditing. Unauthorized attempts to upload information or change information on the GBTI Online Banking Platform are strictly prohibited and are subject to prosecution under the applicable laws.
The Bank reserves the right to block your access to GBTI Online Banking, to maintain or restore security to our website and systems or if the Bank has reason to believe your access information has been or may have been obtained and used by an unauthorized person.
The Bank will provide notification within a reasonable time when changes are necessitated by an immediate need to restore or maintain the security of the Bank’s systems or on an individual account.
9. Liability
The Bank is not responsible for any errors or failures from the malfunction or failure of your personal access device or your internet service provider.
The User agrees that, irrespective of the type of device, used to access or download the GBTI Online Banking ‐ Mobile Banking Service application should only be done from an authorized platform or application stores. The Bank will not be responsible for your choice or consequences resulting from an unauthorized download or installation.
The Bank is not responsible for any computer virus and malware related problems that may be associated with the use of an online system. The Bank recommends that you install trusted virus protection software and routinely scan your system.
10. Electronic Messaging
Electronic messages sent to us through GBTI Online Banking will be deemed as legal instruction from The User.
11. Alerts
GBTI Online Banking provides mandatory alerts. Additionally, users can subscribe to optional alerts. These alerts will be delivered to the registered mobile number and/or email address with the Bank. The optional alerts can be configured after The User signs into GBTI Online Banking.
The Bank shall not be liable for alerts sent out to unintended recipients if the mobile numbers and emails are not updated or are incorrect.
12. Notices
User accepts that the Bank may send notices and other communications to your contact information on our records. You further agree that the Bank will not be responsible or liable in any way if information is intercepted by an unauthorized person, either in transit or at your place of residence or business.
A notice is considered delivered one business day after transmission to the email/mobile number of the user on record.
13. Agreement to Terms and Conditions
Use of GBTI Online Banking Service is confirmation that The User agrees to be bound by these terms and conditions.
14. Changes to the Terms and Conditions
The Bank reserves the right to alter at any time the terms and conditions of this Agreement. The User will be notified of any such change as required by applicable law.
15. Cancellation/Termination
The Bank reserves the right to terminate this agreement at any time if it finds that there is misuse of the account. The Bank’s actions will be guided by all applicable laws and regulations. The Bank will not be liable for any loss resulting therefrom. Any termination of this Agreement will not affect The User’s liability for Bank transfers made prior to the effective date and time of termination. The User accepts that transactions initiated by him/her cannot be stopped once the request is received and processed by the Bank.
The User may terminate the Agreement by written notice to the Bank. Such notification will not be effective until it is received by the Bank.
The Bank may terminate this Agreement and restrict access to The User at any time and without prior notice to protect the integrity of our internal systems and or the account.
16. Severability
If any provision of this Agreement is held invalid or unenforceable for any reason, the invalidity of that provision shall not affect the validity of the remaining provisions of this agreement.
17. Indemnity
The User agrees to hold The Bank harmless for any delay, loss, inconvenience, injury or damages caused by any breakdown or interruption to the GBTI Online Banking platform or related services due to circumstances beyond its control.
The User acknowledges that there are certain security, corruption, and transmission error and access availability risks associated with using open networks such as the Internet and wireless networks.
The User hereby assumes such risks which include but is not limited to misuse of password, internet frauds, and technological risk and agrees to indemnify and hold the Bank harmless for any loss or damages resulting from the use of the services to the extent allowed by applicable laws.
The User acknowledges that GBTI’s Telex Service Provider may be required to disclose Customer Information and Personal Data to certain other third parties, including (without limitation) SWIFT, any country’s central bank, auditors, or a governmental/ regulatory authority in order to meet the legal requirement of its Service Agreement and to comply with other applicable laws, regulations and governmental processes. In such cases, you undertake and agree to indemnify GBTI and its correspondent bank (s) fully and hold them harmless from and against all liabilities, loss, cost, actions, charges, damages, expenses, claims and demands which may be made against you because of such disclosures.
The User agrees that the Bank shall not be liable for any loss arising directly or indirectly, in whole or in part from:
(a) any inaccuracy, act or failure to act on the part of any person not within the Bank’s reasonable control,
(b) the negligence or misconduct of Customer or any Authorized Representative or other agent of Customer,
(c) any ambiguity in the instructions given to the Bank,
(d) any error, failure or delay in the transmission of any funds transfer request which is caused by strikes, civil unrest, any inoperability of communications facilities or circumstances beyond the Bank’s reasonable control, or
(e) the Bank’s reliance on instructions from persons purporting to be Authorized Representatives who present the Bank with incorrect information to initiate transfers, pursuant to this Agreement.
IN NO EVENT WILL THE BANK BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES. THESE CONDITIONS CANNOT BE CHANGED OR SUPPLEMENTED ORALLY.
18. Electronic Signatures
For ease of transactions, I consent to using electronic signatures on relevant documents, in electronic form. The Bank will accept electronically signed instructions for processing transactions and compare electronic signatures against its records but is not responsible for unauthorized use.
Any electronic signature shall have the same legal validity and enforceability as a manually executed signature to the fullest extent permitted by applicable law, including the “Electronic Communications and Transactions Act 2023 of the Laws of Guyana.”
I/We jointly and/or severally hereby undertake to fully indemnify the Bank from acting in accordance with such instructions given in the documentation bearing electronic signature(s) and agree to hold it harmless from and against any claims, loss, damage, cost, debts, demands, duties, expenses, fees, liabilities, obligations, penalties or other losses or claims of any kind howsoever arising out of or in connection with the said transactions or account operations or any other related matter(s) of whatsoever nature which I/WE may incur as a consequence of acting upon the instructions in the documentation.
19. Reporting Unauthorized Transactions
A record of each transaction and the related charge will appear on the bank statement for the account that was debited. I, the accountholder, am required to exercise due care and attention when examining my bank statement after performing or requesting such transactions. Any irregularities or discrepancies observed on the account in question should be promptly reported to the Bank.
20. Authority & Indemnity for instructions received
Notwithstanding the terms of the Principal Agreement or any future mandate or other agreement or in the course of dealing between us, the Bank is hereby authorised to rely upon and act in accordance with any instructions and/or representations or otherwise (collectively “the Instructions”) in relation to my account(s) which may from time to time be, or purport to be, given by electronic mail, or any other electronic means agreed to by the Bank by me or on my behalf or provided in person, by me or any person or persons duly authorised by me, without inquiry on the part of the Bank as to the authority or identity of the person or persons making or purporting to make such Instructions and regardless of the circumstances prevailing at the time of such Instructions. References to electronic mail in this Authority and Indemnity shall include any instruction addressed to the Bank which has been attached to an electronic mail.
Without limiting the foregoing, we agree that the Bank shall be entitled to treat such Instructions as fully authorised by and binding upon me, and the Bank shall be entitled to take such steps in connection with, or in reliance upon, such Instructions, provided that such Instructions include directions as permitted within this Agreement.
The Bank may seek confirmation of any instructions which purport to bind me to any agreement or other arrangement with the Bank or with any other person or to commit me to any other type of transaction.
Upon receipt of such confirmation, the Bank shall be entitled to treat such Instructions as fully authorized by and binding upon me, and the Bank shall be entitled to take such steps in connection with, or in reliance upon, such Instructions regardless of the nature of the transaction or arrangement or the amount of money involved.
I hereby further authorize the Bank to reply to and generally communicate with me via Electronic Means whether or not the communication contains my confidential information.
21. Acceptance of Risks and Indemnity
I acknowledge and confirm my awareness of the numerous risks inherent and associated in conveying Instructions via Electronic Means and hereby confirm my acceptance of all risks and unconditionally agree that all risks shall be fully borne by me and the Bank will not be liable for any losses, claims, actions, proceedings, demands, damage, costs and expenses (collectively referred to as “losses”) incurred or sustained by me of whatever nature and however arising out of, or in connection with such Instructions including, among other things, incurred by reason of:
– Any Instructions whatsoever;
– Any misrepresentation made by me in relation to any Instructions;
– Any mistake as shall occur by reason of unclear, ambiguous or insufficient Instructions given by me in relation to any transaction concerning my account(s);
– The Bank accepting Instructions by Electronic Means from parties other than myself whom the Bank believes to be me or to be acting on my behalf.
22. Liability & Indemnity
Bank’s Maximum Liability
In the event the Bank is found liable for any loss or damage arising from an electronic transaction, the Bank’s maximum liability shall be assessed and determined considering the nature of the loss or damage, the value of the transaction in question, and such other matters deemed appropriate.
Indemnity for Receiving Institutions
I acknowledge that the Bank is not responsible for any delay, error, or misapplication of funds by the receiving financial institution. I agree to indemnify the Bank against any claims, losses, costs, or damages arising from actions or omissions by the receiving institution.
Customer’s Responsibility for Accuracy
I accept full responsibility for ensuring that all recipient details, including account numbers, are accurate. The Bank is not liable for funds sent to an incorrect account due to errors in the information provided by me.
Funds may only be reversed with the consent of the recipient and the co-operation of the recipient’s financial institution.
23. Other Agreements
The User agrees that these terms and conditions are in accordance with and do not replace any of the Bank’s terms and conditions for an account. If there is any inconsistency between the terms and conditions applying to the account, then these terms and conditions will apply for services provided through GBTI Online Banking.
24. The Governing Law
The laws of Guyana shall govern this Agreement and all transactions hereunder.