Terms and Conditions for Remittance Payments
- Payment Delivery Timescales
- Sonali Bank (UK) Limited's Remittance System is designed to deliver electronic payments to Bangladesh by the next business day. Remittances accepted on a Saturday or Sunday will not be processed until the next business day in London.
- Beneficiaries at outlying branches of Sonali Bank Bangladesh and branches of other banks can expect slightly increased delivery timescales but normal delivery can be expected within seven business days.
- If the Remitter tenders a cheque or makes a credit transfer to the Bank in order to cover the remittance, the remittance certificate will be issued by the Bank when the cleared funds are received. This normally takes five working days but clearance from offices other than Head Office, Osborn Street, London, will normally take six working days. The Sterling/Taka conversion rate applicable will be that which applies on the date of remittance.
- Charges
- Sonali Bank (UK) Limited applies charges in accordance with its existing published tariff.
- If you choose to have charges deducted from the remittance amount, the Bank will remit the net amount to the beneficiary. If you choose not to have charges deducted from the remittance amount, the Bank will add the charges to the amount you wish to send and you will pay the remittance amount and the charges.
- Agents and beneficiary banks may, however, make charges for handling the payment. Sonali Bank (UK) Limited is not responsible for such charges.
- Cancellations and Queries
- If you request Sonali Bank (UK) Limited to cancel a remittance payment that has already been sent and received by a bank in Bangladesh, we will use all reasonable endeavours to obtain the return of monies and you acknowledge that this may require the authority of the beneficiary. Monies returned may also have charges deducted by the beneficiary's bank to cover costs. Any charges made to make the initial payment will not be refunded. The Bank reserves the right to make a cancellation charge to recognise the cost of the work done in making recovery.
For such refund, prior Bangladesh Bank's approval will be required. Hence, the refund process could take considerable time. - If you request us to investigate or amend an existing payment, the Bank reserves the right to make a charge to recognise the cost of the work done in making the amendment. If an error has arisen which is due to the actions of the Bank then no charge will be made.
- These Terms and Conditions are without prejudice to your statutory rights.
- If you request Sonali Bank (UK) Limited to cancel a remittance payment that has already been sent and received by a bank in Bangladesh, we will use all reasonable endeavours to obtain the return of monies and you acknowledge that this may require the authority of the beneficiary. Monies returned may also have charges deducted by the beneficiary's bank to cover costs. Any charges made to make the initial payment will not be refunded. The Bank reserves the right to make a cancellation charge to recognise the cost of the work done in making recovery.
- Liability
- Sonali Bank (UK) Limited is not responsible for checking details of the remittance (including details of the beneficiary or the beneficiary's bank provided by you.)
- Sonali Bank (UK) Limited does not, unless it otherwise agrees, guarantee funds will be credited to the beneficiary's bank within any particular period.
- Sonali Bank (UK) Limited shall not be liable to the remitter or beneficiary for any loss of profit, contracts or goodwill or any other loss or damage including any indirect consequential loss (whether arising in contract, negligence or otherwise and whether or not the possibility of such loss or damage was known or brought to the attention of the Bank at the time it accepted the remittance instruction to effect the relevant remittance transfer) provided always that Sonali Bank (UK) Limited will, if requested by the customer, use all reasonable endeavours to trace and recover (at the customer's cost and expense) the amount of any remittance transfer not received at the beneficiary's bank.
- Sonali Bank (UK) Limited shall only be liable for a delay in funds being credited to the beneficiary's bank to the extent that Sonali Bank (UK) Limited has been negligent, in which case, Sonali Bank (UK) Limited shall be liable to compensate the remitter for loss of interest for the period during which the payment has been delayed. In the event of the funds failing to be credited to a beneficiary's bank, Sonali Bank (UK) Limited shall only be liable if it has been negligent but shall not be liable to the remitter for any loss of profit, contracts or goodwill or any other loss or damage including any indirect or consequential loss.
- Sonali Bank (UK) Limited shall not have any liability for any failure to perform its obligations as a result of computer systems failure, telecommunications malfunction, industrial dispute, or any circumstances beyond its reasonable control.
- Under no circumstances shall Sonali Bank (UK) Limited be liable for more than the principal sum of the remittance plus the charges in the event of delay, non-delivery or underpayment of the remittance, due to fault, error or omission of the Bank. In the event of non-delivery, the principal amount of the remittance shall be refunded to the remitter once the funds have been returned to Sonali Bank (UK) Limited. Any foreign exchange loss is borne by the remitter.
- Insufficient or inaccurate information supplied by the remitter may affect your statutory rights should the payment be delayed.
- Remitters may not include conditions to be satisfied before payment can be released to the beneficiary as neither Sonali Bank (UK) Limited nor beneficiary banks can accept responsibility for policing such conditions.
- Legal Jurisdiction
These Terms and Conditions will be governed by and construed in accordance with the laws of England and Sonali Bank (UK) Limited and the remitter hereby submit to the jurisdiction of English Courts.
- Liability
- By signing or submitting a remittance application, the individual(s) named are:
- Confirming that any details supplied are true and complete;
- Authorising Sonali Bank (UK) Limited when considering the remittance application and at any time in the future to make credit reference, identity, fraud and other enquiries, including information from the electoral register.
- It is understood that credit reference and fraud prevention agencies will maintain a record of our search and the information we give them including whether you have given us false or inaccurate information or we suspect fraud.
- By signing or submitting a remittance application, the individual(s) named are:
- General
In making an overseas transfer we are acting as your agent. You must comply with any relevant local laws and you agree to hold us harmless against all obligations and liabilities we incur as a result of acting for you.
- Data Protection
By submitting a remittance application, the sender consents to the transfer and retention of their data outside the EEA. If the sender wishes to receive details of his or her data held by Sonali Bank (UK) Limited, he or she should contact the address below.