Terms and conditions

GENERAL TERMS AND CONDITIONS FOR ACCOUNT MANAGEMENT

Section 1 – Introduction

1. These General Terms, the Special Terms and updates thereto

The general terms and conditions for account management specified in this document (“These General Terms”) apply to all Banking Services to be provided to you from time to time by the Bank in Your Account at the Bank that will be opened at your request (“the Account” or “Your Account”). With respect to some of the Banking Services that the Bank shall provide to you from time to time at your request (such as: Credit and deposits), provisions of additional documents that specify the special terms pertaining to these Banking Services, that update or supplement These General Terms in relation to these Banking Services, shall apply (“the Special Term(s)”) and shall constitute, together with These General Terms and all accompanying documents and forms or any application or document in connection thereto, part of the Account Opening Documents. Signing the Account Opening Documents, as defined hereunder in clause 48, in any manner that the Bank might allow from time to time, including via digital approval, constitutes your consent to their terms. The Bank may, from time to time, update These General Terms and/or any of the Special Terms and/or any of the Account Opening Documents that shall apply to the Banking Services by issuing notice thereof 30 days before the updated documents come into effect.

2. The Service Channels and Online Banking Agreement

The Bank provides all Banking Services solely through the Bank’s Application (“the Bank’s Application”). As a rule, the Bank does not provide Banking Services in any other way, neither through branches nor via a website. In light of that stated, as a precondition to opening Your Account and receiving Banking Services from the Bank, you must opt to receive information and notices in relation to Your Account and execute Operations between your Accounts at the Bank (insofar as the Bank shall allow you to manage multiple accounts) and with third parties through the Online Banking Services as the Bank might enable from time to time. At the time of signing These General Terms, the online banking channels include the following Service Channels: the internet channels (the Bank’s Application, email and software for sending instant messages) and telephone channels (human responses and SMSs sent via cellular telephony channels). Another precondition to opening Your Account is informing the Bank of your email address. By signing the Account Opening Documents in any manner that the Bank might enable you to sign from time to time, including by digital approval, you are confirming that you have chosen to receive information and carry out Operations between your Accounts at the Bank (insofar as the Bank shall allow you to manage multiple accounts) and with third parties via all of the Service Channels, and that you are also giving your explicit consent to your engagement with the Bank in the Online Banking Agreement, which is presented hereunder in Section 4 (“Online Banking Agreement”) and to receive information and notices solely through the Online Banking Services and not by physical mail, apart from in exceptional instances when the Bank is obligated by law to also send you a notice by physical mail. You may withdraw your consent at any time by issuing notice to the Bank but, in such instance, the Bank will be unable to continue providing any of the Banking Services to you. Please note: the Bank uses advanced technologies and invests considerable means and efforts to protect its computer systems and the information contained therein but, due to their being based on software, hardware and communications networks, they are exposed to the risks inherent in such systems. We ask that you take all measures at your disposal in order to minimize these risks and, inter alia, we ask that you safeguard the confidentiality of your Means of Identification and Information Security. In light of the fact that your mobile phone constitutes a Means of Identification and Information Security, we ask that you secure your mobile phone in which you installed the Bank’s Application in a manner that will not enable others to use the Bank’s Application. We have compiled a number of recommendations for you pertaining to information security in clause 21 of These General Terms. We ask you to read the said clause and, at the very least, act according to the recommendations specified therein.

3. Marketing messages

The Bank shall be allowed to make use of your contact details and send you emails or SMSs containing advertisements, special offers, discounts, updates, innovations, etc. (“Advertisements”) pertaining to the Bank’s activities. You shall be able to notify the Bank at any time that you wish to opt out from receiving such Advertisements by clicking on a link or sending a reply (as shall be specified in the Advertisement) or by sending an email to service@esh.com.

Section 2 – Authorizations in Your Account

4. An individual customer’s account The Account shall be managed under the name of a customer who is an individual holding an Israeli identity card and who is not a minor and, as long as the Bank does not inform you otherwise, it will not be possible to manage an account with a beneficiary other than the customer. 5. Death or diminished legal capacity In any instance whereby your legal capacity diminishes or changes in any way, whether by law or actually, including in instances of death, bankruptcy or declaration of incompetence, the Bank shall be allowed to refrain from executing any operation in Your Account for as long as a binding order regarding those authorized to act in Your Account has not been presented to the Bank (such as: an inheritance order, a probate order, an order appointing an estate administrator or an order appointing a legal guardian) and for as long as the Bank is not convinced of the entitlement of those specified in the order to act in that Account.

Section 3 – Account management

6. Issuing instructions to the Bank

Management of Your Account at the Bank and the issuance of instructions to the Bank to carry out Operations in Your Account or any other instruction pertaining to Your Account shall be done in conformity with the statutory provisions, with that specified in the Account Opening Documents and in the Bank’s procedures, and according to the terms of the Banking Service in relation to which the Operations are being executed in Your Account. Without derogating from that stated, every instruction and notice must be delivered to the Bank solely through the Online Services (as defined hereunder). Notwithstanding that stated above, the Bank shall be allowed to decide alternative ways to deliver instructions in the event that the Online Banking Services are unavailable and at the Bank’s discretion. Every reference to your Signature, insofar as not explicitly stated otherwise by the Bank, means your digital approval in the Bank’s Application or in any of the Service Channels that the Bank might allow from time to time.

7. Restrictions pertaining to withdrawals from Your Account and the execution of Operations in Your Account

Your right to withdraw funds from Your Account is contingent, inter alia, upon the existence of a Balance for Withdrawal at the time of the withdrawal. Insofar as the Bank has agreed, ex gratia, to honor an instruction to debit Your Account even though a sufficient Balance for Withdrawal does not exist in Your Account, this shall not be construed as the Bank’s consent to do so in the future. Before giving an instruction to execute an Operation, you must verify the existence of a Balance for Withdrawal that is sufficient to cover that Operation in Your Account. The Bank shall be allowed to execute the Operation you requested, even if a sufficient Balance for Withdrawal does not exist in Your Account or if you failed to fulfill any of the other terms of the Account Opening Documents, and you must immediately rectify any such deviation, including coverage of the overdraft in Your Account. To dispel any doubt, it is hereby clarified that the Bank’s consent to execute any Operation under such circumstances in no way obligates it to consent to execute additional Operations under such circumstances and in no way diminishes your obligations as stated.

8. Limits on sums

The Bank may, from time to time, define a maximum sum for executing Operations in Your Account (hereinafter: “the Permitted Maximums”), which shall apply in addition to any other restrictions imposed on the execution of those Operations according to the terms of the Account Opening Documents. You must act solely within the Permitted Maximums as published by the Bank from time to time. If the Bank receives instructions or requests to execute Operations that exceed the Permitted Maximums defined by the Bank, the Bank shall be allowed (but not obligated) to execute them and they shall be binding upon you, but this shall not be construed as the Bank’s consent to do so in the future.

9. Allocations of payments

The Bank may allocate any sum or any portion thereof that arrived for crediting to you in any manner, to any of Your Accounts being managed in the Bank under your name at that time, insofar as the Bank shall allow you to manage multiple Accounts. Subject to any law, on the payment date of any sum that shall be paid to the Bank for the purpose of paying back any of your obligations to the Bank, if you do not notify the Bank against which of your aforesaid obligations the Bank should allocate the relevant sum paid, the Bank shall be allowed to decide against which of your obligations to the Bank, in whole or in part, the sum paid as stated shall be allocated, in whole or in part. Insofar as on the payment date of a particular obligation, a sufficient Balance for Withdrawal does not exist in Your Account to pay such obligation in full, the Bank shall be allowed to partially not pay the obligation, and the debt resulting from any such non-payment shall accrue Interest at the Maximum Rate. All sums to be credited to Your Account shall first be used to pay fees and expenses of any kind, secondly to pay the interest, and finally to reduce the remaining sums that you shall owe at that time in Your Account. The Bank shall be allowed to retain any sum to be received in the Bank prior to the payment due date of any sum of debt, and it shall be allowed (but not obligated) to use such sum to reduce the sum of such debt.

10. Information about executing Operations and about Your Account

The Bank shall manage computerized Records of the execution of Operations in Your Account and shall retain these Records for a reasonable timeframe of not less than six months. The Bank shall also be allowed to record your communications through the Online Services and to retain these recordings. In such instance, the aforesaid Records and recordings shall be deemed part of the Bank’s Records. Information regarding Operations that may be executed in Your Account shall be presented to you via the Service Channels. Apart from instances of a statutory obligation to do so, the Bank shall not be obligated to send you notices regarding the execution or non-execution of Operations in respect whereof you issued instructions. After you issue any instruction, it is your responsibility to verify its execution. Some of the displayed information might be received from third parties, which shall be displayed as received (as is), and the Bank shall not check or be liable for the accuracy of the data, which might even change.

11. Interest on the credit balance in an Account

The Bank may decide from time to time that a credit balance in an Account shall bear interest at the rate and in the manner that shall be customary at the Bank from time to time (“Interest on a Credit Balance”). Insofar as the Bank shall define Interest on a Credit Balance, it shall be calculated according to the number of days when a credit balance existed at a sum qualifying for Interest on a Credit Balance as shall be customary at the Bank from time to time, and it shall be credited to the Account at the times as shall be customary at the Bank from time to time, all as shall be published by the Bank from time to time.

Section 4 – Online Banking Services and payment services

As stated, as a precondition to opening and managing Your Account and receiving Banking Services from the Bank, you must opt to receive information and notices in relation to Your Account and to execute Operations in Your Account and/or between Your Accounts at the Bank (insofar as the Bank shall allow you to manage multiple accounts) and with third parties through the Online Banking Services as the Bank might enable from time to time. By signing the Account Opening Documents, you are also issuing your explicit consent to your engagement with the Bank in the Online Banking Agreement presented in this Section 4. Therefore, it is very important that you read the provisions specified in this section and act according to them, which shall apply in addition to all provisions of the Account Opening Documents.

12. Definitions

In this section –

“Means of Identification and Information Security” – any of the means used for identification and/or for information security in the Online Services, as they shall be from time to time, including: Your Device (including your mobile phone), permanent or temporary passwords for the various Service Channels, codes, subscription numbers, PINs (Personal Identification Numbers).
“Your Device” – any device or means of any kind existing today or that might exist in the future, which you are using to receive the Online Services, inclusive of their hardware, software and communications components and their accompanying functions (including the information security component), including: your mobile phone and any cellular or other device and computer.
“The Online Banking Systems” or “the Online Banking Services” or “the Online Services” or “the Service Channels” – any of the following: the Bank’s Application, systems, means of communication and any other means or technology existing today or that might exist in the future, including internet channels (websites, applications, email, instant messaging software) and telephone channels (human responses and SMSs through cellular telephony channels), and any other channel or means that may be used for the purpose of establishing communications between you and the Bank’s systems and/or the Bank as the Bank might notify from time to time.

13. Receiving Banking Services through the Online Banking Systems

The Bank strives to provide you with convenient and fast services and therefore, it may from time to time update the Service Channels, the technologies, the means and modes of communicating with the Bank and with its systems, for the purposes of both delivering and receiving messages and information and of executing Operations in the Bank’s systems. The Bank shall decide the Service Channels from time to time. It is clarified that the Bank is not obligated to make all of the Service Channels available to you at all times, and that the Bank shall decide the Service Channels from time to time through which you may receive information and issue instructions or execute particular Operations, according to the limitations of the technologies and means available to it, as the Bank shall notify you from time to time. You must execute Operations through the Online Services in compliance with the Bank’s customary rules and conditions pertaining to the various types of Banking Services, as shall be provided to you from time to time. In addition to that stated above, if you use third-party systems, you must receive additional instructions from the suppliers of such systems regarding the mode and terms of use thereof.

14. Timing for receiving instructions and executing Operations

As long as the Bank has not issued any other specific notice to you pertaining to an instruction you issued to the Bank, instructions for executing Operations that shall be received by the Bank and that do not require pre-approval by any authority in the Bank in order to complete their execution according to the Bank’s procedures and/or that do not require the use of third-party systems and/or any action by third parties (“External Instructions”) shall be executed by the Bank immediately upon receipt. However, insofar as at issue is an instruction requiring pre-approval by any authority in the Bank in order to complete its execution and/or the performance of any action according to the Bank’s procedures and/or insofar as at issue are External Instructions as stated above, and such instruction is received by the Bank on a day that is not a Banking Business Day or is received by the Bank after the End of a Banking Business Day or after an earlier time as the Bank shall publish in the Bank’s Application and/or on the Bank’s website (if any), such instruction shall be executed in Your Account on the first Banking Business Day after the date of its issue, apart from Operations that take longer than one business day and/or that are contingent upon the performance of additional actions, which shall be carried out within the timeframe reasonably required by the Bank in order to carry them out, as the Bank shall notify in the Bank’s Application. Insofar as the Bank has undertaken to execute any Operation for you and no execution date has been specified, the Bank shall execute it within the reasonable timeframe usually required by the Bank in order to execute such an Operation. The Bank shall credit Your Account with sums that shall be due to you from time to time on the value date when the sums were received by the Bank, or on a later date, whichever is the earliest possible, if reasonable circumstances arose that prevented crediting Your Account on that day, inter alia, in any of the following circumstances:

if the Bank is legally prevented from crediting Your Account at the time designated for crediting the Account;
if the delay was caused as a result of activities of the Bank’s external service-providers;
if the instruction to credit Your Account is unclear or is inadequately understood by the Bank or if there is a disruption, discrepancy or error in the instruction received by the Bank.

15. Debit authorization

Insofar as the Bank might allow this, you shall be able to issue authorizations to the Bank to debit Your Account through a designated screen in the Online Services or in some other way that the Bank shall allow, subject to the provisions of any law. The Bank may reject an account debit authorization request and may revoke an account debit authorization or may refuse to execute a Payment Operation according to an authorized payee’s demand, for reasonable reasons. You shall be able to revoke a debit authorization at any time by notifying the Bank or the authorized payee. If an authorized payee notifies the Bank that it was issued a cancellation instruction, the Bank shall be allowed to act according to the payee’s notice to the Bank to cancel the authorization, and you shall not have any claim against the Bank in respect of cancellation of the debit authorization pursuant to the authorized payee’s notice to the Bank. You may cancel a particular charge that Your Account was charged by virtue of a debit authorization by notifying the Bank, provided that such notice is delivered to the Bank by no later than thirty business days after the date of the charge. That stated above shall not apply to particular types of debit authorizations or to particular types of charges that the Minister of Finance has deemed to be noncancellable (if any).

16. The Bank’s right to refuse to execute particular instructions/payment operations

The Bank may refuse to honor any instruction to execute an Operation in Your Account, including Payment Operations, may postpone or delay its execution, or withdraw its consent to execute it, or may execute it only partially, in the following circumstances, and the circumstances specified hereunder shall be deemed reasonable reasons for refusing to execute a Payment Operation, all depending upon the particular circumstances:

if the instruction is unclear or inadequately understood by the Bank;
if the Bank believes that execution of the instruction could expose the Bank to unreasonable risk or could prejudice its rights;
if the instruction reached the Bank after the specified date for its delivery or execution;
if the instruction is to execute an Operation that is not included within the scope of the Operations that the Bank customarily executes, is not included among the Banking Services being provided to you or does not fulfill the conditions and restrictions applying to the issuance of instructions and the execution of Operations in Your Account in relation to the relevant Banking Service;
if a sufficient Balance for Withdrawal does not exist in Your Account and executing the Operation would cause an overdraft in Your Account;
if several Debit Instructions have been issued to the Bank and a sufficient Balance for Withdrawal does not exist in Your Account that would enable the execution of all of the Debit Instructions. In such instance, the Bank shall be allowed to execute any of the Debit Instructions that the Bank deems appropriate;
if there is a legal or other obstacle to carrying out the instruction;
in any instance whereby the Bank demands or is required to obtain an additional approval (from you and/or from any third party) as a precondition to carrying out the instruction, and such approval has not been received.

That stated above shall also apply, mutatis mutandis, to funds and assets being transferred to the credit of Your Account, and the Bank shall be allowed, at its sole discretion, to refuse to accept such transfer and/or to delay their acceptance and/or to return them, in whole or in part.

17. Crediting Your Account

Notwithstanding that stated in section 14(a) of the Payment Services Law, the Bank shall be allowed to deduct any debt, expense or fee due from you to the Bank from sums that shall be due to you from the Bank, as the beneficiary of Your Account, at any time and from time to time, including by virtue of an instruction to transfer sums issued by any third party for you.

18. Cancelling a Payment Instruction – finality of an instruction/request

You may cancel a Payment Instruction by notifying the Bank, as long as the execution of such Payment Instruction has not been completed, and provided that the Bank is actually able to stop the execution of the relevant Payment Instruction according to the reasonable technological restrictions that exist under the circumstances. Instructions for immediate execution, or instructions issued within the framework of a secured payment transaction, as this term is defined in the Payment Services Law, are irrevocable and unalterable.

19. Risks during use of the Online Banking Services, and Means of Information Security

The Bank uses advanced technologies and takes measures to protect its computer systems and the information contained therein. Despite this, the Online Services, by virtue of their being based on software, hardware and communication networks, are exposed to risks inherent in such systems, including malware (viruses, Trojan horses, etc.), eavesdropping on communications lines, hacking by hostile parties, spoofing of the Bank’s websites or of any of the systems and other online scams, disruptions in systems’ operation and/or their response times, unavailability of the systems and/or of any of their services (when an alternative channel for performing Operations might not be available to the customer in all instances), etc. The Bank invests considerable efforts in protecting against the aforementioned risks, but it is impossible to completely block them, and damages and losses are possible as a result of the materialization of any of these risks, including disclosure or corruption or outdatedness of the information flowing through or displayed in the Online Services, disruption of instructions and/or requests, the execution of unauthorized Operations in accounts, non-execution, incorrect execution and/or late execution of an instruction and/or request. We particularly emphasize these matters considering the use of systems and/or components that are not under the Bank’s control. Please note: your mobile phone is used as a Means of Identification and Information Security; therefore, it is highly important that you secure it and take all measures to safeguard your mobile phone device in which you installed the Bank’s Application and, inter alia, you are obligated to lock your mobile phone by way of a personal access code, password, pattern or biometric identification. You must ensure that these means are known only to you and that you do not allow others to use your mobile phone. Without derogating from that stated above, in order to mitigate the aforesaid risks, you must be diligent about information security, including by taking the following protective measures:

lock your mobile phone when you are not using it; it is recommended that you use biometric means (fingerprint, facial recognition); if you use a password, do not reveal it to others;
install applications only from the official application stores;
do not use a “hacked” mobile phone, which is contrary to the manufacturer’s instructions;
safeguard your Means of Identification and Information Security in complete confidentiality, in your sole possession and inaccessible to others. It is absolutely forbidden to keep any of your Means of Identification and Information Security in or adjacent to Your Device. In addition, do not write down any of your Means of Identification and Information Security in a visible or readable location on your personal computer or on a piece of paper in your wallet;
do not disclose your Means of Identification and Information Security, passwords and other sensitive information in emails or in instant messaging software and do not share them with other parties;
when you terminate your use of your mobile phone (sale or surrender), you must uninstall the Bank’s Application and it is recommended that you perform a “factory reset”;
if you receive a message by email or instant message from an unknown party, do not click on links or download files;
do not disclose your password to the Bank’s Application or your debit card number to anyone pretending to be a representative of the Bank. We will never ask you to disclose these details to us by email, telephone or instant message;
create passwords and Means of Identification and Information Security as randomly and as difficult to guess as possible;
do not use the same password that you created for the purpose of accessing Your Device and/or, if relevant, the Online Services, for other applications and websites and especially not for social networks;
immediately change any of your Means of Identification and Information Security if you become concerned that they have become known or disclosed to another person or entity, freeze the use of your Means of Payment, to the extent necessary, and report this to the Bank;
do not send viruses and other malware, fake data or illegal or offensive materials through the Service Channels.

We ask that you read all other recommendations about information security, which are specified in the information security page in the Bank’s Application.

20. The means you use to receive Online Banking Services

You are solely responsible for installing, operating and maintaining Your Device. You must verify that the means that you are using to receive the Online Services are technically compatible for receiving Online Banking Services and that they support the requested service. For particular services (such as receiving SMSs), receiving the service is contingent upon the means being used to receive the service being within reception and transmission range and is subject to all other limitations of the relevant Service Channel, including its availability, including from the providers of the Service Channels (cellular operators, ISPs, etc.).

21. Blocking or halting the Online Banking Services

In exceptional circumstances arising from the Bank’s immediate need to protect you and/or other customers and/or itself and/or third parties, the Bank shall be allowed to block or halt the provision of any of the Online Services, without advance notice, including in any of the following circumstances:

in any instance whereby activity is being carried out that deviates from the Bank’s directives or from Your Account’s normal activity or if your activity in any of the Service Channels could cause damage or adversely affect the Bank’s situation or prejudice any of its rights;
if the Bank is of the opinion that the activity in Your Account or its continuing activity could be used for the purpose of committing an offense or causing the Bank to violate a provision of law;
in instances whereby halting the activity in the Service Channels is for the purpose of enabling the Bank to comply with a judicial order or any instruction from a competent authority;
in any instance whereby the Bank becomes aware of a malfunction, disruption or breakdown or if a reasonable concern arises of hacking into and/or abuse of the Bank’s systems;
in any instance whereby the Bank may call for the immediate repayment of any Credit provided to you.

The Bank shall also be allowed to halt the provision of any of the Online Services from time to time for the purpose of carrying out maintenance or upgrading work.

22. Freeze on the use of a Means of Payment

You may, at any time, ask the Bank to freeze the use of any of the Means of Payment issued to you by the Bank for the period that you decide, provided that such period does not exceed 14 days. The Bank shall be allowed to permit you to freeze the use of your Means of Payment for a period exceeding 14 days and to decide that the freeze on use of your Means of Payment shall continue to remain in effect until it receives further instructions from you. The Bank may freeze the use of any Means of Payment if it is obligated to do so pursuant to the provisions of any law, as well as for reasonable reasons, including: reasonable concern that the security of the Means of Payment has been compromised; concern of Abuse of the Means of Payment or of fraud; substantive concern that you will fail to fulfill your obligations to the Bank; reasonable concern that the Means of Payment could be used to commit an offense or to cause the Bank to violate any provision of law; in any instance of a malfunction in the Means of Payment; under any other circumstances over which the Bank has no control; and in any other instance whereby, at the Bank’s discretion, the continued use of your Means of Payment could cause damage to you or to the Bank. Please note: since the Bank’s Application is the only Means of Payment available to you for the purpose of issuing a Payment Instruction directly to the Bank, a freeze on the Bank’s Application will not enable you to issue Payment Instructions directly to the Bank until the freeze is removed. It is hereby clarified that Payment Instructions issued prior to the date of the freeze on the Means of Payment shall be honored by the Bank.

23. Obligation to notify the Bank, and execution of Operations

You are obligated to notify the Bank immediately upon becoming aware of any:

loss, theft or exposure of any of your Means of Identification and Information Security or of an Essential Component of your Means of Payment;
concern of abuse of any of the Service Channels or Abuse of any of your Means of Payment;
loss or theft of Your Device;
instruction or forwarding of a request to execute any Operation in Your Account or information received by or forwarded to the Bank under your name without your authorization;
instruction, request or Operation that was not performed according to your instructions, or if a disruption or error occurred in relation to its execution or in relation to any other message of yours to the Bank;
unauthorized login, listening in or eavesdropping of Your Device;
leakage of information or data which were intended for you to any unauthorized party;
disruption of or malfunction in the Service Channels.

24. Theft or loss of any of your Means of Identification and Information Security, of an Essential Component of your Means of Payment, or Abuse of your Means of Payment

As stated, you are responsible for taking all security measures needed to protect and safeguard the confidentiality of your Means of Identification and Information Security and of an Essential Component of a Means of Payment, including by not making them available for use by another person and by acting in conformity with that specified in clause 19 of These General Terms and in conformity with the information about information security that the Bank publishes from time to time. In the event of theft or loss of an Essential Component of your Means of Payment or of use of your Means of Payment by anyone who is not entitled to do so (in this clause: “the Loss”) you must immediately notify the Bank (in this clause: “Your Notification”). Your Notification must include all details that shall be required by the Bank, including the circumstances of the Loss, the Payment Operations executed while abusing Your Means of Payment and the details of the damage caused, and you must take every reasonable measure to help reduce the damage. You are not liable for Abuse of your Means of Payment committed subsequent to the delivery of Your Notification. It is hereby clarified that the Bank shall not be liable to you or to any third party for any damage, whether direct or indirect, in relation to the Bank’s actions subsequent to the delivery of Your Notification as stated above, provided that the Bank acted in good faith and without negligence according to Your Notification as stated above. Subject to any law, the Bank shall be allowed to debit Your Account in respect of any Payment Operation via your Means of Payment for which you issued Your Notification, which was executed during the period between the date when you became aware of the Loss and the delivery date of Your Notification, up to the lower of: (a) the sum of the Payment Operations actually executed during the Abuse; and (b) a fixed sum of ILS 75, plus ILS 30 for each day that elapsed between the date when you became aware of the Loss and the delivery date of Your Notification. Notwithstanding that stated above, if you issued Your Notification within 30 days of the date of the first Abuse of your Means of Payment, the sum of the debit shall not exceed ILS 450. These sums may be changed by order of the Minister of Justice (“Limit of Liability”). The Limit of Liability shall not apply and the Bank shall be allowed to debit Your Account in respect of any Payment Operation executed using your Means of Payment before you issued Your Notification to the Bank if your Means of Payment was used after you made an Essential Component of your Means of Payment available to another person, all whether the use was made with your knowledge or without your knowledge. Notwithstanding that stated, the Limit of Liability shall apply if you made an Essential Component of your Means of Payment available to other person under reasonable circumstances solely for the purpose of safekeeping or if you made it available to a beneficiary for the purpose of issuing a Payment Instruction through the beneficiary, or if the Abuse of your Means of Payment was committed after an Essential Component of your Means of Payment, which you made available to the other person, was stolen from or lost by that person. Notwithstanding all that stated above in this clause, the Limit of Liability shall not apply in the event that you acted with fraudulent intent and, in such instance, you shall be solely liable for the Abuse of your Means of Payment.

25. Liability for defects during the execution of Payment Operations

The Bank shall not be liable for any damage or expense that might be caused to you and/or to any third party as a result of a defect during the execution of a Payment Operation, which was caused due to an act or omission by you and/or by any party on your behalf and/or by another payment service-provider. Without derogating from the general purport of that stated above in this clause, a Payment Operation that was executed by the Bank relying on the beneficiary’s Unique Identification Code, which you provided to the Bank, whether provided alone or provided together with other details, shall be deemed an Operation executed by the Bank in compliance with the requirements regarding the identity of the beneficiary during the Payment Operation, and the Bank shall not bear any liability for damage that might be caused to you, and you shall be required to compensate and indemnify the Bank in respect of any damage, loss and expense of any kind and type whatsoever, whether direct or indirect, whether foreseeable or unforeseeable, which shall be caused to the Bank as a result of a demand, allegation or claim by you and/or by any third party as a result of non-execution of the Payment Operation by the Bank or as a result of a defect in its execution, all provided that such non-execution or the defect in its execution as stated was caused due to the Bank’s reliance on an incorrect Unique Identification Code of the beneficiary that you provided to the Bank as aforesaid.

26. Copyrights and intellectual property

All rights of any kind and type whatsoever, including the copyrights, any patent, trade secret, trademark and any proprietary right to any Software developed and/or that shall be developed by or for the Bank within the framework of and/or in relation to the Bank’s Application and/or the other Online Services (hereinabove and hereinafter: “Software”), shall be the full, sole and absolute property of the Bank, or of a third party from which the Bank acquired the right to use that Software. You are prohibited from infringing the rights of the Bank and/or of any third party to any Software to be provided to you (including by way of downloading), and you must exert all efforts and take all measures to prevent such infringement by third parties. You are also prohibited from copying the Software and you must not allow any person and/or entity to make any use of the Software or any portion thereof.

Section 5 – Liability, payments and indemnity

27. Limit of Liability regarding the Online Services

Subject to any law, the Bank shall be released from any liability for any damage, loss or expense that might be caused to you or to any third party that receives information, details or data from you as a result of disruption of the information, of the arrival times of the information or of its very arrival, of details and data, for any reasons whatsoever, due to or as a result of malfunctions deriving from communications lines, means of communication or communications equipment or other communications constraints that are not under the Bank’s control or that relate to other third parties, which are not under the Bank’s control or known to it, also including non-receipt of notices at the times requested by you or the receipt thereof partially, or in a corrupted or outdated manner, as well as in the instance of a temporary halt of the Online Services, all under circumstances whereby the Bank could not have prevented the disruption or malfunction with reasonable efforts. It is clarified that any request or instruction that shall be issued to the Bank through the Online Services using your Means of Identification and Information Security, including through your mobile phone, shall be considered as your request or instruction, even if it becomes evident that that person was not you or was not authorized. The Bank’s liability in respect of Abuse of a Means of Payment shall be subject to that stated above in clause 23. The Bank shall not be liable for any damage or expense that might be caused to you or to any third party due to a defect in the execution of a Payment Operation, which was caused as a result of an act or omission of yours or of any party on your behalf or by another payment service-provider, inter alia, as stated above in clause 24.

28. Fees and expenses

Subject to any law and the Bank of Israel’s instructions, you must pay fees to the Bank pertaining to Your Account and to the Operations being executed in it, pertaining to the various services, including the preparation of legal documents, pertaining to attachments that might be imposed on Your Account, and to orders and rulings of courts and other competent authorities that might be filed in relation to Your Account. You must also pay all expenses incurred by the Bank in connection with Your Account and the Operations being executed in it, including expenses pertaining to any of the Account Opening Documents and of documents to be issued pursuant or in relation thereto and of collateral and bonds referred to therein, as well as the reasonable expenses pertaining to the exercise of rights to collect your debts to the Bank (including lawyers’ fees) and including the reasonable expenses pertaining to any claim or any exercise of bonds and collateral. All of the aforesaid shall be paid at the sums, on the dates and in the manner to be specified in the price list that the Bank shall publish from time to time and, insofar as they are not specified in the Bank’s price list, at the sums, on the dates and in the manner as the Bank shall require. Any Liability in respect of fees or expenses that you fail to pay by their payment due dates shall bear Interest at the Maximum Rate as of the payment due date and until their actual full payment. The Bank may revise, amend or replace the Bank’s price list from time to time, to make changes in the tariffs, to the names and timing of the debiting of the fees and expenses, and to set new fees and expenses, and any such revision or amendment shall come into effect and be binding upon you as of the publication date of the new or amended price list. The sum of lawyers’ fees that shall apply shall be as determined in a court ruling or decision. In the instance of execution proceedings, if no specific lawyers’ fees have been specified, the minimum fee prescribed by virtue of section 81 of the Bar Association Law of 1961 shall apply and, in any other instance, as shall be agreed upon between the Bank and you. You must pay any such expense to the Bank immediately upon its first demand, plus Interest at the Maximum Interest Rate in respect of the period as of the date the Bank issued its first demand as stated and until its actual payment. Interest as aforesaid, which shall compound monthly or for any other period as shall be customary at the Bank from time to time, shall also bear such interest. The Bank shall be allowed to debit any Liability of yours from Your Account in respect of such fees or expenses without being obligated to issue advance notice to you of its intention to do so.

29. Payment of Liabilities and debiting of Accounts

You must pay any Liability to the Bank by the agreed payment date or, if an agreed payment date has not been set, upon the Bank’s first demand, plus Interest at the Maximum Rate as of the payment due date and until the actual payment date. In any instance whereby you fail to pay any sum by its due date, the Bank shall be allowed to debit any sum that you failed to pay as stated from Your Account. In any instance whereby the Bank is entitled to debit any sum from Your Account, the Bank may do so, subject to any law, whether Your Account has a credit balance or a debit balance or whether debiting such sum from Your Account shall result in a debit balance. In the instance whereby Your Account does not have a Balance for Withdrawal, the Bank may debit the required sum from any other Account of yours at the Bank (if any).

30. Indemnity

Without derogating from that stated above and subject to any law, you are obligated to compensate and indemnify the Bank for any damage that might be caused to the Bank, and for reasonable expenses that the Bank shall incur or that it shall be required to pay (including fees of the Bank’s lawyers and experts) in relation to claims, demands or other proceedings that might be filed against the Bank (including by any third party) in relation to Your Account, Operations in your Account, the Banking Services in Your Account or pertaining thereto, as well as claims, demands or other proceedings between you and third parties, in which the Bank has become involved. Insofar as any claim, proceeding or demand has been filed by a third party against the Bank in Israel or abroad in relation to Your Account, or if the Bank has become involved in any claim, demand or proceeding in a matter that entirely constitutes a dispute between you and a third party, including attachment proceedings and other temporary reliefs, you are obligated to compensate and indemnify the Bank for any reasonable loss, damage and expense (including the Bank’s lawyers’ fees) that might be caused to the Bank as a result of any such claim, demand or proceeding. In relation to proceedings as stated being conducted in court or before any other competent judicial authority in which the Bank has taken an active part, the Bank’s rights to indemnity and compensation as stated in respect of litigation expenses during those proceedings shall be subject to the ruling of the court or of any other competent judicial authority, without this derogating from the Bank’s aforesaid entitlement to indemnity and compensation in respect of any other loss, damage and expense beyond litigation expenses.

31. Release from liability in particular circumstances

Subject to any law and any other provision of the Account Opening Documents, the Bank shall be released from liability in respect of damage, loss, expenses and payments, whether direct or indirect, which might be caused to you as a direct result of circumstances over which the Bank has no control and for the duration of those circumstances, provided that the Bank shall exert reasonable efforts to fulfill its obligations.

Section 6 – Rights of offset and lien

32. Right of holdback and lien

For the purposes of this clause 32, the following terms shall be construed as defined hereunder:

“The Sums and Assets Due to You from the Bank” – all funds, which are or shall be due to you from the Bank in Your Account and in any other account of yours at the Bank and in any deposit of yours in the Bank, and all of your other assets of any kind and type whatsoever (whether they were delivered to the Bank by you or whether any third party delivered them to the Bank for you, whether they were delivered for collection, whether they were delivered for security or whether they were delivered for safekeeping and/or for any other purpose), and the consideration thereof, including all of your rights pertaining to the funds, assets and rights as stated above.
“The Sums Due to the Bank from You” – all sums, which are or shall be due to the Bank from you in any account of yours at the Bank, whether the payment due date has arrived or has not yet arrived and whether the payment due date is contingent upon the fulfillment of any condition.

The Bank shall have a right of holdback and/or lien on all Sums and Assets Due to You from the Bank, and the Bank shall be allowed at any time, without having to notify you in advance, to impose a holdback on them until all Sums Due to the Bank from You are paid, while maintaining a reasonable ratio between the Sums and Assets Due to You from the Bank, which are under holdback as stated above, and the Sums Due to the Bank from You. In relation to Sums Due to the Bank from You for which the payment due date has not yet arrived, the Bank shall be allowed to act in conformity with that stated above if it has reasonable concern that these sums shall not be paid to the Bank in full or by their due dates. In addition to that stated above, in any instance whereby an attachment shall be imposed on any sum and/or any asset out of the Sums and Assets Due to You from the Bank, the Bank shall have a right of holdback and/or lien in relation to that sum and/or asset, as the case may be, until the said attachment is removed, but only in relation to the Sums and Assets Due to You from the Bank whose inclusive total and/or value shall not exceed the outstanding balance of the Sums Due to the Bank from You, as such outstanding balance shall be from time to time. In the instances specified above in this clause, you shall not be entitled to withdraw all or any portion of the Sums and Assets Due to You from the Bank, or to act with them or in relation to them in any manner whatsoever without the Bank’s consent, and the Bank shall be allowed to prevent you from making any changes in them. The Bank shall notify you of the exercise of any of its rights pursuant to this clause above, after the exercise thereof.

33. Right of offset

For the purposes of this clause 33, the following terms shall be construed as defined hereunder:

“The Sums Due to You from the Bank” – all funds that are or shall be due to you, subject to any law, from the Bank in Your Account and in any other account of yours at the Bank.
“The Sums Due to the Bank from You” – all sums that are due to the Bank from you at the time of the offset, in any account of yours at the Bank, including sums whose payment due date has arrived as a result of a calling for immediate repayment and/or acceleration of repayment by law and/or according to that agreed upon with you.

Without derogating from the Bank’s right of holdback and lien as stated, the Bank shall be allowed, at any time, without having to notify you in advance, to offset Sums Due to You from the Bank from any of the Sums Due to the Bank from You, and to debit any sum out of the Sums Due to the Bank from You, whether or not referred to in These General Terms, from any Account and any deposit of yours at the Bank. The Bank shall be allowed to execute an offset without issuing you any advance notice; however, in the instance of an offset from Sums Due to You from the Bank whose payment date has not yet arrived, or in the instance of an offset from a fixed term deposit which, were it not for the offset, would otherwise be automatically extended or renewed and would have generated particular rights or benefits to you from the term deposit, the Bank shall be allowed to execute the offset only after having issued advance notice to you. However, the offset shall be executed immediately insofar as delaying the execution of the offset could adversely affect the Bank’s situation or prejudice any of its rights, or insofar as advance notice of the Bank’s intention to execute an offset has been sent to you, but an attachment, notice of a receivership on your assets or a similar event is received during the defined period. The Bank shall be allowed to execute an offset in conformity with the provisions of this clause 34 even if the debit from Your Account shall result in Your Account having a debit balance, in respect whereof you shall be charged Interest at the Maximum Rate. In instances whereby the Bank shall exercise rights of offset as stated prior to the payment date of any of the Sums Due to You from the Bank, adverse changes might occur in relation to your rights in respect of or in relation to that sum (such as with regard to interest rates, linkage differentials, exchange-rate differentials, rights to grants or loans and withholding taxes). The Bank shall also be allowed to deduct fees, expenses and damages that it customarily collects from the aforesaid sums. In any instance whereby the Bank shall exercise its right of offset as stated for the purpose of receiving payment of any existing Liability or future Liability as stated above, you shall bear all damages and costs, at your own expense, which might be caused to you as a result of such offset (including charging you early repayment fees as a result of the Bank calling for the immediate repayment of the future Liability, or losses of principal, interest, exchange-rate differentials and linkage differentials as a result of the Bank exercising its right of offset through any assets or the consideration thereof (as the case may be), in respect whereof a bank charge exists against you that has not yet materialized). You are also obligated to pay all other expenses, fees and payments to the Bank that are customary at the Bank at that time pertaining to the Bank’s exercise of its right of offset as stated.

Section 7 – General provisions

34. Closure of Your Account or reducing the scope of services

Without derogating from the provisions of any law, the Bank shall be allowed at any time to close Your Account or to terminate one or more of the Banking Services and/or of the Service Channels being provided to you pursuant to These General Terms, after having issued prior written notice to you of 45 days, unless exceptional circumstances arise that justify closing Your Account or stopping your activities immediately, without advance notice, including as stated in clause 21 of These General Terms. You may ask the Bank to close Your Account at any time. In such instance, the Bank shall take action to close Your Account by the end of five business days after the date you completed all actions required in order to close it, as specified in the Bank’s manual for transferring banking activities and closing an account, including the completion of the following actions:

paying all of your Liabilities to the Bank, including your Liabilities in respect of the Means of Payment issued to you in Your Account, if issued;
settling your liabilities to any third parties, which the Bank has assumed in respect of Your Account; and
signing an identification document in instances of a reasonable concern about the identity of the applicant to close Your Account, as required by law.

It is hereby clarified that, since all of the Banking Services are being provided through the Online Services, insofar as you inform the Bank that you wish to stop receiving the Online Services, this will constitute notice of your decision to close Your Account and the Bank shall take action to close it as stated above in this clause.

35. Prohibition of transferring rights and obligations

You are not allowed to assign, transfer, endorse or pledge any of your rights and obligations pursuant to the Account Opening Documents to any third party without obtaining the Bank’s prior written consent.

36. Privacy and use of customer information and data

Personal information about you shall be collected throughout your engagement with the Bank. Details about data collection and processing, the purposes for use thereof and the forwarding thereof to third parties are specified in the Bank’s privacy policy document, which is published in the Bank’s Application. By signing These General Terms, you are issuing your explicit consent to the Privacy Policy and the Terms of Use. It is clarified that if you choose to share information from the Bank’s Application with third parties through applications and/or platforms of any kind whatsoever and/or in any other manner that might be possible from time to time (“Third-Party Applications”), this shall constitute your explicit consent to the forwarding of the said information to those third parties and consent and waiver of banking confidentiality vis-à-vis those third parties in respect of the said information, and you shall not have any allegation and/or claim against the Bank in relation to the forwarding of the said information. The Bank is not liable for securing the information or for any use thereof by third parties as stated. Your use of Third-Party Applications could be subject to agreements between you and such third parties and to their privacy policies, including in relation to the use and storage of the information that you shall forward during or for the purpose of using Third-Party Applications.

37. Notices from the Bank

As stated, all notices, documents and information from the Bank to you shall be sent through the Online Services and not via the Israel Postal Service, apart from instances when the Bank is obligated by law to send a notice to you via the Israel Postal Service. Submitting an application to open an account at the Bank constitutes your request to join the service of receiving notices via the Online Services as stated. Notices and information of any kind that the Bank delivered to you within the framework of the Online Services, including to your email and/or by text message via cellular telephony (SMS), according to the details you provided to the Bank, shall be deemed as having actually been received by you one day after their transmission or when they were opened by you (whenever it is possible to track the opening of a message in a computerized manner), whichever is earlier. In instances when the Bank is obligated by law to send notices, documents and/or information via the Israel Postal Service, they shall be sent to the address that you provided to the Bank as recorded in the Bank’s Records, and they shall be deemed as having been received by you 72 hours after the time of their dispatch by the Bank by regular mail or after the time of their dispatch by the Bank for posting via registered mail. Any notice duly published by the Bank or that shall be delivered to you by personal delivery shall be deemed as having been received by you at the time of its publication or at the time of its delivery to you, as the case may be. Without derogating from that stated above, the sending or service of due process by courier or by registered mail to the address recorded in the Bank’s Records shall constitute service of process for all intents and purposes for the purposes of Israeli courts and any other competent judicial authority, including service of process outside the jurisdiction pursuant to the Civil Procedure Regulations of 1984.

38. Delivering information, notices and details to the Bank

By signing These General Terms, you are covenanting that all of the information that you provided to the Bank during the account opening process, including the declarations and the information in the forms that you Signed during the account opening process, and any information that you shall provide to the Bank from time to time is correct, complete and accurate. You must deliver written notice to the Bank of any change from that stated above in this clause and of any reservations or objections that you might have in relation to Your Account, and you must deliver any other notice to the Bank that you are obligated to deliver to the Bank pursuant to any law or agreement, including in conformity with any of the Account Opening Documents. You must notify the Bank in writing as soon as possible about any change in any information that you provided to the Bank, including any change in your declarations and/or in the information that you provided to the Bank during the account opening process and/or in your contact details, including any change in the address for sending items of mail through the Israel Postal Service, in your email address, in your mobile phone or in its number. Every document or information and every letter or notice from you or from anyone on your behalf to the Bank must be delivered through the Online Services, in accordance with that stated therein. In instances when you are required to send notices, documents or information to the Bank other than through the Online Services, you must send the items of mail to the Bank’s address as published in the Bank’s Application.

39. Money laundering, financing of terrorism and bribery

You must cooperate with the Bank and provide all details, information or documents to the Bank that are required by the Bank from time to time in relation to the Prohibition of Money Laundering Law. You declare and covenant to the Bank that you were not, are not and shall not be involved in money laundering or in financing of terrorism or bribery, whether in Israel or abroad. You covenant to notify the Bank immediately if any restriction is imposed on any other bank account under your name and/or of the closure of a bank account under your name due to involvement or suspected involvement in money laundering or in financing of terrorism or bribery, whether in Israel or abroad.

40. The Bank’s Records, notices and confirmations as evidence

The Bank’s Books, Records, notices, confirmations, statements and copies thereof shall serve as admissible evidence to prove the authenticity of their contents, inclusive of all of their details, including with regard to their existence, dates, content and the execution of instructions, requests and Operations through the Online Services. In the event of a contradiction between the data contained in the Bank’s systems and the data in your possession and/or in your computer or that of a third party, the data appearing in the Bank’s systems shall prevail. You must examine every record, notice, confirmation, copy of a statement and any itemized report in Your Account and issue your written comments about them (if any) to the Bank through the Online Services, within 60 (sixty) days of the date of their delivery or dispatch by the Bank. Any record, notice, confirmation, account statement, report and any information delivered to you via the Online Services shall be deemed as having been delivered at the time of its delivery or transmission as stated. The Bank may correct the record of any Operation that was erroneously recorded in Your Account or that was recorded at an incorrect sum or on an incorrect date, as well as any Operation that inadvertently was not recorded, and issue notice to you about such correction.

41. Change, waiver and compromise

Any waiver, extension, concession, nonresponse, refraining from action (hereinafter in this clause: “Waiver”) of the Bank in relation to nonfulfillment or partial or incorrect fulfillment of any of your obligations pursuant to the Account Opening Documents shall not be deemed a Waiver of any of the Bank’s rights. Any change in your obligations to the Bank, including a Waiver or compromise, requires the Bank’s prior written consent. Without derogating from that stated, if the Bank acted other than in conformity with the provisions of the Account Opening Documents, this shall not be considered a correction or amendment of any of the Account Opening Documents within the same context and the Bank shall not be obligated to act in a similar manner in the future.

42. Technical changes in Your Account number or splitting of Your Account

The validity of any of the Account Opening Documents shall not diminish even if the Bank changed the account number of Your Account for any reason, and they shall continue to apply in relation to the new account number. The Bank may change the account number, transfer the account balance, whether a credit or debit balance, whether to another existing account or to a new account opened for this purpose, in any instance whereby such change might be necessary or desirable for office, administrative or technical reasons. The Bank may also split Your Account into two or more accounts if the account status justifies doing so.

43. Tax liabilities

In this clause, “Tax” means any compulsory payment imposed by the State of Israel or by any other country, including all taxes (including stamp tax, if applicable), levies, fees and other compulsory payments of any kind and type, including in respect of income, capital gains, profits, VAT, deductions and withholding taxes that are constituted according to their nature, or that are payable on account of taxes, fees, levies or compulsory payments as stated, including interest and fines relating to these payments. You must pay all sums to the Bank of any kind and/or type that are or shall be due to the Bank pursuant to These General Terms in full, after having paid and deducted all Taxes in respect thereof. Without derogating from that stated above, it is clarified that, in any instance whereby any sums that shall be due from you to the Bank as stated shall be liable for Taxes, then those sums shall be increased accordingly, so that, after paying the Tax as stated, the Bank shall receive all sums due from you to the Bank in full pursuant to the Account Opening Documents. In the event that any provisions of law (including foreign law) impose an obligation on the Bank to withhold Tax or otherwise charge any Tax, levy or compulsory payment on funds or other assets of yours, the funds or other assets shall be available to you only after such deduction, and the Bank may debit Your Account in respect of any Tax, compulsory payment or levy that must be deducted and transferred to the tax authorities. If, for any reason, the Bank shall not execute the Tax debit or the Tax deduction or if it shall be required to correct it, the Bank shall be allowed to debit Your Account in respect of any sum that shall be required as payment of the Tax or to gross up the Tax, and this, on any date, including a future date, so that the Tax deduction from Your Account shall be as required from the Bank. Such future debit, if any, shall be executed at the value on the date when the Bank was obligated to pay, collect or deduct the Tax payment. By Signing These General Terms, you are issuing an irrevocable instruction and authorization to the Bank to execute a debit as stated above. Withholding of Tax or Tax collection by the Bank does not necessarily reflect your Tax liability, which is subject to assessment by the various tax authorities (in Israel and abroad). Withholding of Tax or Tax collection by the Bank or non-withholding or non-collection of Tax by the Bank in no way determines your Tax liability. You must report to any relevant tax authority pursuant to any law (including foreign law) that is applicable to you, and you must pay any Tax you owe in respect of income received in Your Account or in respect of funds or other financial assets being held in Your Account, even if Tax sums were withheld or collected by the Bank as stated above in this clause. In particular instances, the Bank shall be obligated to report to the tax authorities in Israel and abroad about accounts that it is managing. The Bank has sole discretion in relation to such reports, and you hereby waive any allegation or claim against the Bank within this context. Any tax payable in relation to transactions and Operations in Your Account shall apply to and be payable by you. You must pay any sum to the Bank at its first demand that shall be required in order to pay any Tax liability in respect of a transfer of funds or other assets as stated according to your instructions. All expenses and outcomes relating to a transfer as stated shall apply to you and solely at your own expense. You are hereby issuing an authorization to the Bank to debit Your Account in respect of any sum that shall be required in order to pay Tax as stated above. You must issue any information, confirmation, document or exemption from any relevant tax authority, including a foreign authority, to the Bank immediately upon its first demand (including a confirmation of the withholding tax rate or of a tax exemption or of a tax payment) to the extent required in relation to that stated above in this clause, including documents pertaining to foreign law that the Bank might require, and you covenant to inform the Bank about any change that occurs from time to time in your tax status, including in your countries of citizenship or residency for tax purposes. The Bank may make the withdrawal of funds or assets from Your Account contingent upon the receipt of the information, confirmation, document or exemption as stated.

44. Applicable law and jurisdiction

The law applying to the Account Opening Documents and to any banking service or Operation or transaction by virtue thereof, pertaining to their interpretation and to any right deriving from them, even when not explicitly stated therein, is the law of the State of Israel. The sole jurisdiction pertaining to any of the Account Opening Documents shall be the competent court in the State of Israel, according to Israeli law, and, insofar as the Bank is the plaintiff, the competent court in the city of Tel-Aviv – Jaffa, which is the city closest to the Bank’s registered offices.

Section 8 – Interpretation and definitions

45. Interpretation

The clause headings in the Account Opening Documents are provided for convenience only and shall not be considered when interpreting the Account Opening Documents. In the Account Opening Documents, use of the masculine gender includes the feminine and vice versa, and use of the plural includes the singular and vice versa. In any instance whereby the Bank is allowed to execute any Operation pursuant to the Account Opening Documents, it is not obligated to execute it and may execute it at its sole discretion. In any instance whereby the Bank is allowed to execute any Operation pursuant to the Account Opening Documents without advance notice, the Bank’s right as stated is subject to any unconditional provision of law. Unless explicitly stated otherwise and subject to the provisions of any law, all instructions and authorizations issued and to be issued to the Bank to debit Your Account in conformity with the Account Opening Documents are irrevocable and cannot be altered or cancelled without the Bank’s prior written consent. Such instructions and authorizations are binding upon you and upon all of your alternates, since the Bank’s rights depend on them.

46. Inter-document correlations

The Account Opening Documents, accompanying or related documents and specific applications, which shall be submitted from time to time, shall supplement each other, shall be construed as adding to each other and the provisions of These General Terms shall apply to them. If a contradiction or inconsistency is discovered between the conditions stated in these documents and any of the matters discussed in a relevant specific application, the conditions of the relevant specific application, as agreed upon between you and the Bank, shall prevail, unless explicitly stated otherwise. The Account Opening Documents shall supplement each other and shall be construed as adding to each other. If a contradiction or inconsistency is discovered between any of the Account Opening Documents with respect to a subject that is explicitly discussed in two or more documents, the conditions of the most specific document among them shall prevail, unless explicitly stated otherwise Thus, insofar as there is a contradiction between These General Terms and any of the Special Terms documents, the relevant Special Terms document shall prevail.

47. Definitions

Unless explicitly stated otherwise, the terms contained in These General Terms, in any application and in each of the Account Opening Documents shall have the meanings as defined alongside them:

“Abuse” of a Means of Payment – use of a Means of Payment or of an Essential Component thereof by any party who is not entitled to do so according to the Account Opening Documents and/or any other agreement for the issuance of a Means of Payment between you and the Bank.
“The Account” or “Your Account” – a bank account opened under your name by virtue of These General Terms.
“Account Opening Documents” – These General Terms, the Special Terms and all documents pertaining thereto or accompanying them, including any application and form pertaining thereto, and all documents containing authorizations in Your Account (including a power-of-attorney), the compositions of the Signatures or updates of any of these, which were delivered, received and approved by the Bank, and notices and other documents addressed to you from the Bank, all on the Signing date of These General Terms or at a later date.
“Balance for Withdrawal” – correct to any relevant calculation date, a credit balance in Your Account that includes funds recorded to the credit of that Account, apart from funds as stated in respect whereof there is a Liability of yours or of the Bank in Your Account, or which are recorded to the credit of Your Account as stated on a conditional basis only, or funds that the Bank is obligated or may be obligated to pay to any third party. It is clarified that a credit balance in Your Account as stated does not include cash deposits and other financial assets that are recorded to the credit of Your Account in any other sub-account in Your Account or that are recorded to the credit of any other account managed under your name in the Bank.
“The Bank” – esh Bank Israel Ltd., as well as any party acting in its stead or on its behalf and any of its transferees.
“Banking Business Day” – a business day in the banking system, which is every day except Saturday, statutory holidays, the two days of Rosh Hashanah, the eve of Yom Kippur and Yom Kippur, the first and eighth days of Sukkot, Purim, the first and seventh days of Passover, Independence Day, Shavuot, Tishah B’Av, and any day defined by the Supervisor of Banks as a day that is not a Banking Business Day.
“Banking Services”– all services that the Bank customarily provides to its customers, as is customary at the Bank from time to time.
“The Bank’s Application” – the Bank’s application.
“The Bank’s Books” – including Records of the Bank and any book, register, statement of account, contract, letter of undertaking, signed deed, ledger, statement sheet of the Bank or that was produced by the Bank, reel of bank records, copies any of any of these that were approved by the Bank or submitted by it as part of its books, and anything producible from any of these by means of data storage or retrieval, electronic imaging and other technology, that were made during the ordinary course of the Bank’s businesses.
“Credit” – loans, credit facilities of any kind, overdrafts and any Operation in Your Account that creates or may create a debit balance or debt and any Liability in Your Account deriving from any of the Account Opening Documents or deriving from Operations executed based on them, as well as any Liability deriving from a guarantee, indemnity undertaking or pledge of an asset or right of yours in favor of the Bank to secure the debt of another party.
“Debit Instruction” – Payment Instruction, transfer instruction, withdrawal and any other order or instruction of yours to debit Your Account that you issued to the Bank through any means approved by the Bank.
“End of a Banking Business Day” – 18:30 on every Banking Business Day and 14:00 on Fridays and holiday eves or at any other time that the Supervisor of Banks shall define as the closing time of a banking business day, whether in relation to particular Operations or in relation to all Operations.
“Essential Component of a Means of Payment” – a component of a Means of Payment that is unique to you, or a combination of such components, through which the owner of access to them can issue a Payment Instruction. The Bank shall periodically publish the list of the Essential Components of a Means of Payment, which the Bank shall issue from time to time, in the Bank’s Application.
“External Instructions” – as this term is defined in clause 14 of These General Terms.
“Interest at the Maximum Rate” – the maximum interest rate, as it shall be in effect from time to time at the Bank on debit balances in current accounts in Israeli currency without a current account overdraft facility in effect.
“Interest on a Credit Balance” – as this term is defined in clause 11 of These General Terms.
“Law” – as defined in the Interpretation Law of 1981, and any law, regulation, order, instruction, demand or request of a government authority, including instructions, directives and permits of the Bank of Israel, all as shall be in effect from time to time.
“Liability” or “Your Liability” – debt, liability or obligation of yours to the Bank, of any type (existing and future, direct or indirect, conditional and unconditional, including as guarantors towards the Bank) and for any cause whatsoever, all as may exist from time to time.
“Limit of Liability” – as this term is defined in clause 24 of These General Terms.
“Loss” – as this term is defined in clause 24 of These General Terms.
“Means of Identification and Information Security” – as this term is defined in clause 12 of These General Terms.
“Means of Payment” – a sequence of actions that you must perform in order to issue a Payment Instruction to the Bank, including issuing Payment Instructions through the Bank’s Application.
“The Online Banking Agreement” – as this term is defined in clause 2 of These General Terms.
“The Online Banking Systems” or “the Online Banking Services” or “the Online Services” or “the Service Channels” – as these terms are defined in clause 12 of These General Terms.
“Operations” – the execution of a Debit Instruction or a Payment Instruction, as the case may be, or any other operation or instruction pertaining to the assets recorded in Your Account or to its credit or pertaining to your rights in connection with Your Account.
“Payment Account” – an account intended, inter alia, for executing Payment Operations.
“Payment Instruction” – your instruction to the Bank to execute a Payment Operation, which is issued through a Means of Payment, including if issued through another party, including the beneficiary.
“Payment Operation” – a transfer of funds by or for you, including: (1) a transfer of funds that are deposited in one account to another account (even if both accounts are in your name), provided that at least one of the accounts is a Payment Account; (2) depositing cash into a Payment Account; (3) a cash withdrawal from a Payment Account.
“Payment Services Law” – the Payment Services Law of 2019, as amended from time to time, and all regulations, orders and rules issued or that might be issued by virtue thereof.
“The Permitted Maximums” – as this term is defined in clause 8 of These General Terms.
“Prohibition of Money Laundering Law” – the Prohibition of Money Laundering Law of 2000.
“Record in an Account” – including an account statement, confirmation of the Bank regarding the Account, any record attesting to the execution of an Operation in the Account, any other daily or periodic summary of Operations in the Account, any report, notice or letter to be delivered or sent to you in any way by the Bank and including information received or to be received by you or by any party on your behalf in any of the Service Channels, including in the Bank’s Application, on the Bank’s website (if any), via SMS or instant messaging via an internet channel or via email.
“Records” – any Record in an Account, entry or copy of an entry that documents the information about the Operations in an Account or the Account data and its details, as well as printouts, computer material that is information and electronic messages that contain Account data or the Bank’s notices pertaining to an Account, which were created through recording means of the Bank’s computers, as the terms “printout,” “computer material” (that is information) and “computer” are defined in the Computers Law of 1995.
“Signature” or “Your Signature” – signing a document in any manner, including the issue of a digital approval or consent through the Online Services; and the verb “to sign,” including any of its declensions, shall be interpreted accordingly.
“Sums and Assets Due to You from the Bank” – as this term is defined in clause 32 or in clause 33 of These General Terms.
“Sums Due to the Bank from You” – as this term is defined in clause 33 or in clause 34 of These General Terms.
“Tax” – as this term is defined in clause 43 of These General Terms.
• “These General Terms” – the General Terms and Conditions for Account Management, which are specified above in this document.
• “The Special Term(s)” – as this term is defined in clause 1 of These General Terms.
• “Unique Identification Code” – a combination of letters, numbers, symbols or other unique identifiers that the Bank decided and/or shall decide that you must provide for the purpose of executing a Payment Operation, in order to definitively identify you or any other beneficiary, or the Account of any of you.
• “Your Device” – as this term is defined in clause 14 of These General Terms.
• “Your Notification” – as this term is defined in clause 24 of These General Terms.

48. Convenience translations

From time to time, the Bank might enable its customers to view Screens in the Bank’s Application and to read agreements and documents in the English language. It is clarified that, in any case, including in relation to any screen, document, agreement or correspondence, the Hebrew version is the binding version, both in relation to ongoing conduct vis-à-vis the Bank and in relation to any instance of a dispute between the parties. The possibility of reading or acting in the Bank’s Application in the English language shall in no way be construed as the Bank’s consent to a change in applicable law or jurisdiction, as specified above in clause 44.

Summary disclosure pursuant to the Payment Services Law of 2019 (“Payment Services Law”)

Brief description of the key provisions of the General Terms and Conditions for Account Management pertaining to the provision of payment services Please note: the details specified hereunder constitute merely a summary regarding the provision of payment services. For additional information, please read the provisions of the General Terms and Conditions for Account Management to which this summary is attached (the “General Terms“).

1. Identity of the payment service-provider

Esh Bank Israel Ltd. (“the Bank”) of 121 Menachem Begin Road, Tel Aviv. The Bank provides all banking services solely through the Bank’s application (“the Application”). As a rule, the Bank does not provide banking services in any other way, neither through branches nor via the internet. You may contact the Bank using the support button in the Application.

2. The nature and level of the service

The Bank provides various banking services to its customers, including payment services. The payment services that the Bank currently provides include: management of a current account (payment account); deposits of funds that were transferred from another account under your name at another bank in Israel to your account in the Bank up to the maximum sums that the Bank will publish from time to time; and money transfers to an account under your name at another bank in Israel from which the first deposit was made to your account in the Bank.

3. The sequence of actions constituting the means of payment and the mode of use thereof

The only means of payment that the Bank offers to its customers is the Application.

The sequence of actions constituting the means of payment In order to issue a payment instruction to the Bank to transfer money from your account in the Bank to an account under your name at another bank in Israel, you have to enter the Application installed on your mobile phone, select the operation “Transfer money from esh” and enter all of the required details. You must make sure that the beneficiary’s details in the payment instruction and the sum to be transferred are correct.
The essential components of the means of payment The essential components of the means of payment with respect to the Application, are each of the following: your mobile phone device in which the Application is installed and/or your mobile phone number and/or the Application and/or the pattern and/or the biometric means of identification (fingerprint or facial recognition) enabling access to your mobile phone device and, in some instances, also other verification details that the Bank issued and/or a single-use password.
General provisions regarding the use of the means of payment

You must safeguard each means of payment and each of the essential components of the means of payment in absolute confidentiality, separately and in a manner that is inaccessible to others. You must act according to the instructions regarding the essential components of the means of payment that the Bank will issue from time to time, including about replacing them and safeguarding them.
The use of a means of payment entails various risks, which derive, inter alia, from the nature of the means of payment and how it is used, such as the unique risks deriving from the system used to operate the mobile phone in which the Application is installed. For details about the risks involved in the means of payment, refer to the details in the General Terms.
The issuance of payment instructions through the means of payment may require the use of essential components, including the use of various means of identification (such as a single-use password) that will be defined by the Bank from time to time or according to your selection.

Freezing the means of payment

You may ask the Bank at any time to freeze your means of payment for a period not exceeding 14 days after the date of your notice, or for a longer period, to the extent that the Bank might permit this. You may submit a request to the Bank to freeze your means of payment through the Request for Support tab in the Application.
The Bank may freeze the use of the means of payment that it issued if this is required pursuant to the provisions of any law, and for reasonable reasons, including: concern that the security of the means of payment has been compromised and/or concern of abuse of the means of payment or of fraud and/or substantive concern that the customer could fail to fulfill his/her obligation to repay credit that the Bank provided to him/her and that the customer is using for the purpose of making payments through the means of payment.

Please note: since the Application is the only means of payment available to you for the purpose of issuing a payment instruction directly to the Bank, freezing the Application will not enable you to issue payment instructions directly to the Bank until the freeze is removed. It is clarified that payment instructions issued prior to the date of the freeze of the means of payment shall be honored by the Bank.

4. The period of engagement in the payment services contract, its renewal and cancellation methods

The General Terms are in effect indefinitely and shall remain in effect until the Bank or the customer gives notice of its decision to close the account and terminate the engagement in the General Terms.
Closing your account at your own initiative You may terminate your engagement in the General Terms at any time by written notice to the Bank. Insofar as there is no legal obstacle to doing so, the Bank will close the account 5 business days after the date you complete all actions necessary to close the account, as specified in the General Terms and in the provisions of the law.
Terminating the means of payment contract by you As a rule, you may terminate the means of payment contract at any time by notifying the Bank. The Bank will cancel your means of payment within one business day of the date of receipt of your notice of termination of the contract at the Bank.
Please note: since the Application is the only means for issuing payment instructions to the Bank, cancelling it as a means of payment will not enable you to issue payment instructions to transfer money from your account in the Bank.
Closing the account or terminating the means of payment contract by the Bank As a rule, and subject to any law, the Bank shall be allowed to terminate the engagement in the General Terms and to close the account and/or to terminate the contract for the issuance of a means of payment after having given the customer prior written notice of 45 days, apart from in exceptional circumstances that justify immediate termination of the contract without issuing any advance notice.
If the account is closed at the initiative of the Bank or at the initiative of the customer, it will not be possible to renew the engagement, but rather, a new account will need to be opened, which shall constitute a new and separate engagement.

5. Dates pertaining to provision of the service

“Banking Business Day” – every day except Saturday, statutory holidays, the two days of Rosh Hashanah, the eve of Yom Kippur and Yom Kippur, the first and eighth days of Sukkot, Purim, the first and seventh days of Passover, Independence Day, Shavuot, Tishah B’Av, and any day determined by the Supervisor of Banks as a day that is not a banking business day.
“End of a Banking Business Day” – at 18:30 on every banking business day and at 14:00 on Fridays and holiday eves or at any other time that might be decided by the Supervisor of Banks as the end of a banking business day, in relation to particular operations or in relation to all operations.
“Closing time of a Business Day for the purpose of issuing payment instructions to the Bank” – the End of a Banking Business Day.
It is clarified that instructions received at the Bank on a day that is not a Banking Business Day or that are received at the Bank after the End of a Banking Business Day or, in relation to payment instructions, after the Closing Time of a Business Day for the purpose of issuing payment instructions to the Bank, shall be deemed received at the Bank on the next Banking Business Day.
Expected timeframe to complete a payment operation
- Transferring funds from your account in the Bank to an account under your name at another bank in Israel The timeframe that the Bank requires to complete the execution of customers’ payment instructions varies, depending upon the unique characteristics of each instruction and the deadline for receiving instructions relevant to each payment operation. At the time of receipt of a payment instruction, the Bank will inform you of the date when it will transfer the funds and the date when the funds can be expected to be credited to the beneficiary (to the best of the Bank’s knowledge, and according to that customary for that payment operation).
- Crediting your account in the Bank The Bank will credit your account with sums that will be due to you from time to time on the value date on which the funds were received by the Bank, or at a later date, whichever is the earliest possible date, if reasonable circumstances arose that prevented the crediting of the account on that Banking Business Day, as specified in the General Terms. The recording of the balances in your account (on the value date when the funds were received at the Bank) may be on a later date than the date when the execution of the transfer will be reflected in the bank account from which the funds were transferred to your account.
The deadline for notifying the Bank that you are cancelling a payment instruction
- You may cancel a payment instruction by notifying the Bank, as long as the execution of the payment instruction has not been completed, and provided that the Bank has the actual possibility of stopping the execution of the relevant payment instruction considering the reasonable technological limitations applicable under the specific circumstances.
- Instructions for immediate execution, or instructions issued within the framework of a secured payment transaction, as this term is defined in the Payment Services Law, are irrevocable and unalterable.
Notifying the Bank of the theft or loss of an essential component of a means of payment or of abuse of a means of payment
You must notify the Bank immediately upon becoming aware of the loss or theft, as the case may be.

Payments that you must pay for the services, and their rates

The payments that you must pay for the service You are required to pay fees to the Bank depending upon the services that will be provided to you from time to time, according to the price list to be published by the Bank from time to time. The Bank will be allowed to debit your account in respect of any reasonable expense that might be caused to the Bank in connection with your account, operations relating to your account and to the various services.
Deduction of fees or charges from funds being transferred to your account Pursuant to the General Terms and section 14(b) of the Payment Services Law, the Bank may deduct any debt, expense or fee that is due to the Bank from funds that will be due to you from the Bank, as the beneficiary in your account, at any time and from time to time, including by virtue of an instruction issued to transfer funds to your account.

Conditions of liability for the service, for a defect in the execution of a payment instruction and liability for abuse of a means of payment

The Bank’s liability The Bank will bear liability under circumstances that impose liability on the Bank by law and in the event of a breach of a statutory obligation by the Bank or of negligence by the Bank. The Bank will be released from liability under the circumstances specified in the General Terms and by law.
The Bank’s liability in respect of a defect in the execution of a payment operation – the Payment Services Law prescribes a normative framework regarding the Bank’s liability when executing a payment operation in relation to customers and in relation to other payment service-providers. The Bank will not be liable for any damage or expense that might be caused, if any, to the customer and/or to any third party as a result of a defect in the execution of a payment operation, which was caused as a result of an act or omission by the customer and/or by any party acting on behalf of the customer and/or by any other payment service-provider.
The customer’s liability The customer shall be liable under the circumstances specified in the General Terms, including as specified in clause 8 hereunder.
- The customer’s liability for abuse of a means of payment – the customer’s liability for abuse of a means of payment is limited to the sums specified in the General Terms, and the customer will not be held liable for any abuse of the means of payment apart from the liability specified in clause 27 of the General Terms.

8. Abuse of a means of payment

As stated, you are responsible for taking all security measures needed to protect and safeguard the means of payment and the confidentiality of the means of identification and information security and of essential components of a means of payment, including by not making them available for use by another person and by acting in conformity with the provisions of clause 20 of the General Terms and in conformity with the information about information security that the Bank publishes from time to time. In the event of theft or loss of an essential component of a means of payment or of use of a means of payment by anyone who is not entitled to do so (in this clause: “the Loss”) you must immediately notify the Bank about this (in this clause: “Your Notification”). You are not liable for abuse of your means of payment committed after you delivered Your Notification. It is clarified that the Bank will not be liable to you or to any third party for any damage, whether direct or indirect, in relation to the Bank’s actions subsequent to the delivery of Your Notification as stated above, if the Bank acted in good faith and without negligence according to Your Notification as stated above. The Bank shall be allowed to debit your account in respect of any payment operation through your means of payment for which you issued Your Notification, which was executed during the period between the date when you became aware of the Loss and the delivery date of Your Notification, up to the lower of: (a) the sum of the payment operations actually executed during the abuse; and (b) a fixed sum of ILS 75, plus ILS 30 for each day that elapsed between the date you became aware of the Loss and the delivery date of Your Notification. Notwithstanding that stated above, if you delivered Your Notification within 30 days of the date of the first abuse of your means of payment, the sum of the debit shall not exceed ILS 450. These sums may be changed by order of the Minister of Justice (“Limit of Liability”). The Limit of Liability shall not apply and the Bank shall be allowed to debit your account in respect of any payment operation executed using your means of payment before you issued Your Notification to the Bank, if your means of payment were used after you made an essential component of your means of payment available to another person, all whether the use was made with your knowledge or without your knowledge. Notwithstanding that stated, the Limit of Liability shall apply if you made an essential component of your means of payment available to the other person under reasonable circumstances, solely for the purpose of safekeeping or if you made it available to a beneficiary for the purpose of issuing a payment instruction through the beneficiary, or if the abuse was committed after an essential component of your means of payment, which you made available to the other person, has been stolen from or lost by that person. Notwithstanding all stated above in this clause, the Limit of Liability shall not apply in the event that you acted with fraudulent intent and, in such instance, you shall be solely liable for the abuse of your means of payment.

9. The Bank’s right to refuse to execute particular instructions

The Bank may refuse to honor any instruction to execute a payment operation, may postpone its execution or may execute it only partially, for reasonable reasons as specified in clauses 9 and 10 of the General Terms. Last updated date: 25/4/25