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IsiNet Business Terms and Conditions

Table of Contents

  1. Introduction
  2. Defined Terms
  3. Access to IsiNet Business
  4. Adding/Deleting Accounts
  5. Adding/Deleting/Editing Authorised Users
  6. Limits
  7. Instructions
  8. Security Identification Protection
  9. Unauthorised Transactions Liability
  10. System & Equipment Failure
  11. Anti-Money Laundering & Other Offences
  12. Termination of Access
  13. Fees & Charges
  14. Variation
  15. Assignment
  16. Changes to Functionality


1.1     These Terms and Conditions apply to IsiNet Business as at 1 April 2017.

1.2     IsiNet Business is the NBV’s internet banking service for business and non-personal customers.

1.3     These Terms and Conditions operate in conjunction with the terms and conditions applicable to account(s) which you may access using IsiNet Business, the content of the IsiNet Business application form and NBV’s Electronic Banking Service Terms & Conditions and set out your rights and obligations in the use of this service. Your use of IsiNet Business is taken as confirmation that you have read, understood and accepted these Terms and Conditions and that you are legally bound by them.

1.4     NBV reserves the right to vary or modify these Terms & Conditions without notice. Subsequent use of IsiNet Business will be taken as confirmation that you have read, understood and accepted these modifications.

1.5     Please read these Terms and Conditions carefully before you use IsiNet Business. If you do not understand any part of them, or if you have any questions, please speak with NBV staff at any branch, your relationship manager or call NBV's Helpdesk on 22201during business hours.

2. Defined Terms



Account or Nominated Account

means any account you have with NBV and which NBV has agreed is accessible by the IsiNet Business. There may be a limit on the number of accounts which can be accessible.

Authorised User

means a user that a Master User has authorised from within IsiNet to access and operate your accounts.

Business Day

means any day that NBV is open for business but does not include a day gazetted as a public holiday.

Customer Number

The number preceding the last three digits of your account number(s)

Master User

means the person or persons authorised by You to access and operate Your Account(s) using IsiNet. This person is responsible for managing the access and functionality of other Users.

Security Icons (Factor Two)

are a secondary stage of the identification process and consist of the selection of 3 icons from a panel of 20. When logging in these icons can only be selected by use of a mouse or similar device.

NBV or Bank or Us or We or Our

means the National Bank of Vanuatu Ltd

Security Identification

means the User Name, Password and Security Icons and/or any other codes used by you to access IsiNet Business

Terms & Conditions

means these terms and conditions as amended from time to time by NBV.


means a Master User or Authorised User

You or Your

means the company, business, school or organisation applying to use IsiNet Business or who are registered to use IsiNet Business.

3. Access to IsiNet Business

3.1     All applications for IsiNet are done online from the NBV web site – Only one application for a Master User is needed. When the application is completed it is sent to your local printer and is printed. The application process then moves to selection of a password which is to be alpha numeric and between 6 and 15 characters, then to selection of 3 security icons. To assist with additional identification, 4 questions are to be selected and answers provided.

3.2     When the application process is completed an email with a copy of the application form is automatically sent by the Bank to the Master User’s registered email address. After signing the form it is to be lodged at your local NBV branch for assessment and approval. If the application is accepted NBV sends out another email informing you that the service is ready for use.

3.3     Transaction authorisation requirements in IsiNet may differ from those required for branch transactions. The number of authorisations, up to a maximum of 3 required can be specified in the initial application form or changed by submitting an IsiNet Business Amendment form.

4. Adding/Deleting Accounts

4.1     You nominate the customer numbers that you wish to access or link using IsiNet, however, NBV makes the final decision as to whether access to a customer number or account is restricted or not approved. If your request is not approved or access is restricted then NBV will inform you.

4.2     Changes to customer numbers that can be accessed are to be made on the IsiNet Business Amendment forms and are to be lodged at your local NBV branch.

5. Adding/Deleting/Editing Authorised Users

5.1     When the Master User nominated by You on the application form has been activated he/she then has complete access to all IsiNet functionality relating to your Accounts. This person has the ability to process transactions within IsiNet solely.

5.2     A Master User can create, amend and delete other Authorised Users and/or other Master Users. If an additional Master User is created the ability for a Master User to make changes to his/her own level of access is cancelled. Authorisation levels of a Master User can only be amended by another Master User.

5.3     You agree that you are bound and responsible for transactions and actions of all Users.

5.4     Master Users and Authorised Users with transaction authorisation level access must be satisfactorily identified before they can use IsiNet.

5.5     NBV does not accept any liability or responsibility for the addition and access levels of Users which You and your Users set up in IsiNet.

6. Limits

6.1     NBV limits the maximum total value of transactions for all transaction types (excluding transfers between linked accounts) within a 24 hour period. A default limit of Vt10,000,000 applies. You can make arrangements to increase or decrease this limit. NBV has the sole discretion to approve requests for limit increases.

6.2     If the Overseas Transfer functionality is approved limits may also be imposed by NBV.

6.3     NBV may change or impose limits on the amount of transactions at its sole discretion.

6.4     If You elect to increase the Daily Limit You acknowledge this could, in the event of unauthorised transactions, increase your liability. 

7. Instructions

7.1     Funds

Before initiating a transaction ensure that the Available Balance is sufficient.

7.2     Transaction Processing

7.2.1  Transfers between linked accounts are generally processed in real time and funds in the transferee account are available immediately.

7.2.2  Transfers to accounts of other NBV customers are generally processed in real time and funds in the transferee account are available immediately.

7.2.3  Transfers to accounts at other banks are debited to the transferor account in real time but are generally not available in the transferee account until the next Banking Day. NBV does not guarantee that this will always happen.

7.2.4  Transfers may be delayed because NBV may require confirmation of your instructions or additional supporting information or documentation.

7.3     Overseas Transfers

7.3.1  By default the Overseas Transfers function is disabled. You can request in your application form to have it enabled or lodge an IsiNet Personal Amendment form to enable it at a future date.

7.3.2  Overseas transfers made from your Account(s) are subject to:

  • currency exchange rates applicable on the day; and
  • availability of the amount and currency requested, and
  • any restrictions or requirements of the Anti-Money Laundering & Counter Terrorist Financing Act 13 of 2014, subsequent amendments and Financing Regulations

7.3.3  Transfers received before 2.00pm on a Banking Day are generally processed the same day. Transfers received after that time are processed the next Business Day at the exchange applicable on that day.

7.3.4  If a special exchange rate has been agreed between you and NBV then it is only applicable to the specific transaction and must be transacted on the same day within the hours stipulated. The exchange rate and the authorisation number are to be recorded on the application form. If the authorisation number is not quoted NBV will process the transaction at the exchange rate applicable on that day.

7.3.5  You acknowledge that once the transfer has been processed by NBV and the funds have left Vanuatu then NBV has no control over the time taken by a correspondent bank to get the funds into the beneficiary’s account. It also has no control over intermediary correspondent or beneficiary banks as to whether the payment will be processed by them.

7.3.6  NBV will contact you if a transfer cannot be made in terms of your instructions.

7.4     Transaction Receipt

7.4.1  NBV issues an IsiNet transaction receipt for every monetary transaction as confirmation of your instructions.

7.5     Un-actioned Instruction

7.5.1  Your instruction may not be processed by NBV if:

  • it could or may involve money laundering or the proceeds of criminal activity
  • NBV is restricted by law or Court Order
  • any fees relating to IsiNet are unpaid
  • you have not provided all the necessary information to enable the Bank to process the instruction.

7.5.2  NBV is not obliged to act on any instruction received from you. It has absolute discretion to accept or decline any instruction.

7.6     Delay and Priority

7.6.1  NBV may delay the processing of an instruction or request further information before acting on it.

7.6.2  NBV may determine the priority of multiple instructions received from you

7.7     Confirmation and Details

7.7.1  You authorise NBV to act on and process any instruction from you using your User Name and Password(s) without NBV seeking any further confirmation from you or giving you notice that it has done so.

7.7.2  NBV is not required to, and does not check any details provided by you are correct. NBV is not responsible for any inaccuracy in the instructions you give and is not liable for any losses arising from the any inaccuracy.

7.8     Liability

7.8.1  NBV will treat any instructions given to it using your Security Identification as an instruction given by you with your authority. NBV is under no obligation to enquire whether an act purporting to be done using your Security Identification is a proper act in accord with your authority.

7.8.2. NBV will not be liable for any loss or damage suffered by you arising from any transactions effected in accordance with instructions given to NBV using your Security Identification. You agree that any non-excludable liability imposed by law and which can lawfully be limited is limited to the cost of the resupply of the service.

7.8.3. NBV's liability for the breach of any warranty implied by law in supplying IsiNet to you will be limited to resupply of the service.

7.8.4. NBV will not be liable for any claims for damages against or sustained by you arising from delays or errors in the execution of or the failure to execute any instructions occasioned by the fault or negligence of any other bank or financial institutions.

7.8.5. NBV will not incur any liability for or in connection with its inability to receive or process instructions as a result of technical failure for any reason.

8. Security Identification Protection

8.1     NBV employs a high level of security monitoring and software, including 256 bit SSL encryption technology. NBV strongly recommends that you safeguard your business and account information with up to date internet security software and operating system updates. NBV does not guarantee that any data transmission over the Internet is totally secure.

8.2.    You are responsible for ensuring that your Security Identification is secure and protected from unauthorised use and that you take adequate precautions to protect your computer or mobile device from unauthorised use.

8.3.    You agree to notify NBV immediately (without delay) should you become aware of any unauthorised person gaining access to your Security Identification.

8.4.    You should change your Password and Security Icons frequently.

9. Unauthorised Transactions Liability

9.1     NBV is liable for actual losses:

  • as a result of fraudulent or negligent conduct of NBV's employees or agents;
  • related to faults that occur in IsiNet, unless the faults were obvious or notified to you by NBV;
  • from an unauthorized transaction that occurs after you have notified NBV your Security Identification has been compromised;
  • from the same transaction being incorrectly debited more than once to the same account;
  • from an unauthorized transaction if it is reasonably certain that you have not contributed to the losses.

9.2     You are liable for any actual loss of funds or any interception of information through any unauthorised access to your Account:

  • through your fraud or negligence;
  • by voluntarily disclosing your Security Identification to anyone including a family member or friend; or
  • by failing to keep your Security Identification secure. This includes keeping a record of a password or security icon without making a reasonable attempt to disguise it or prevent unauthorised access to it, writing your passwords/security icon names or a disguised record of them on the electronic equipment or selecting a password which represents a User’s birth date or an alphabetical code which is a recognisable part of their name;
  • if, after you become aware of the loss, theft or breach of your Security Identification, you unreasonably delay notifying NBV, you will be liable for the actual losses incurred between the time you became aware of the events and the time you notified NBV of them.

9.3        NBV is not liable for:

  • any failure or delay of IsiNet to provide information or act on instructions or for failure or delays caused by third parties
  • any party’s reliance on information obtained through IsiNet
  • unavailability of IsiNet and events beyond NBV’s control
  • indirect, inconsequential or special loss or damage however caused including negligence arising from use of IsiNet. This includes but is not limited to loss of or damage to your data, software, computer, telecommunications or other equipment caused by your use of IsiNet unless such loss or damage is directly and solely caused by NBV’s negligence or deliberate default.

9.4     Nothing in these Terms & Conditions shall operate so as to exclude, restrict or modify the application of any provisions of any legislation that NBV and any User is subject to, the exercise of a right or duty conferred by such legislation, or NBV liability for a breach of a condition or warranty implied by such legislation where to do so would breach such legislation or is otherwise illegal.

10. System & Equipment Failure

10.1   You acknowledge that the IsiNet service may experience faults, delays or scheduled downtimes. NBV will not be liable for any loss you incur as a result of any of these events.

11. Anti-Money Laundering & Other Offences

11.1   You agree that if NBV suspects that a transaction may be a breach of a law in Vanuatu or other country or that it may be directly or indirectly involve proceeds of crime or be applied for the purposes of illegal or unlawful conduct then NBV may delay, block or refuse to process the transaction. If NBV takes this action it will not incur any liability.

11.2   You must provide to NBV any information that it reasonably requires in relation to:

  • money laundering, financing terrorism and economic & trade sanctions
  • compliance with any laws of Vanuatu or other country

11.3   You consent to NBV disclosing any information concerning you to any law enforcement, regulatory agency, taxation authority or court where required by any such Law of the country or of any other country, and to any correspondent NBV uses to make the payment, for the purposes of compliance with any such Law or the law of any other country.

11.4   You declare, agree and undertake to NBV that the payment of monies by NBV in accordance with your instructions will not breach any law of Vanuatu or the law in any other country.

12. Termination of Access

12.1   Your access may be terminated at any time by NBV in writing which may be by notice to you when you log on to use IsiNet.

12.2   Your access to all or part of IsiNet may be withdrawn or denied without notice to you because of security or quality of service reasons.

12.3   If your service is affected in terms of 12.2 NBV is not liable for any losses you may experience as a result.

12.4   If your access is:

  • terminated any unprocessed transactions will be cancelled
  • suspended any unprocessed transactions will be processed

12.5   You may terminate your use of IsiNet at any time by written request signed by you and NBV will cancel your access to IsiNet within 5 working days of receiving the request.

13. Fees & Charges

13.1   You may be required to pay fees and charges when you transact through IsiNet.

13.2   You agree that you will pay the fees and charges that are applicable for transactions and that NBV may debit these fees and charges directly to your nominated account or from the proceeds of the beneficiary account (where applicable) or from any other account in your name.

13.3   If you do not pay the fees and charges levied by NBV then IsiNet access will be suspended or cancelled

14. Variation

14.1   NBV may amend these Terms and Conditions from time to time as required by Law or otherwise. It will give notice to you by:

  • direct communication to you;
  • notice displayed in NBV branches or on the NBV's website; or
  • advertisement in a local newspaper.

14.2   You are considered to have received the notice immediately after any such communication, display or advertisement and any continued use of IsiNet by you shall constitute your acceptance of the variation.

15. Assignment

15.1   You shall not transfer and/or assign any or all or part of your rights, benefits and/or obligations under these Terms and Conditions or any document related thereto without the prior written approval of NBV.

15.2   NBV may at any time transfer and/or assign any or all or part of its rights, benefits and/or obligations under these Terms and Conditions or any document related thereto to a locally incorporated subsidiary of NBV in the jurisdiction in which NBV operates or any of its affiliates without your consent.

15.3   If NBV transfers or assigns under clause 15.2, you acknowledge that NBV is authorised to disclose any relevant information to such subsidiary or affiliate and you agree to take such actions and sign such documents as NBV may reasonably require to complete any approval, filing or registration formalities which are necessary for such transfer and/or assignment.

16. Changes to Functionality

16.1   NBV may from time to time change, remove or introduce functions to IsiNet. You agree that your use of a function will be subject to these Terms & Conditions, any further terms and conditions that may appear with the function being accessed even if the function is introduced or changed after you have accepted these terms and conditions.