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We are upgrading to a new system
Dear customers:
As part our commitment to provide you with better the more efficient banking services, we are pleased to inform you that we are upgrading our banking system. Our new system will help us to officer more features and functionality in your banking experience.
Our upcoming banking system upgrade will begin from 16:00 Hr. 23 October Thursday, 2014 to 8:00 Hr. 27 October, 2014 Monday. During the conversion period, all of our banking services including over-the-counter services, internet banking services will not be available.
To ensure the transition to our new system causes you as little disruption as possible, please be advised that we will suspend account opening, closing and maintenance from 17 October 2014 Monday to 24 October 2014 Friday.
After the system upgrading, your bank account will be upgraded to new account numbers. The existing account number can still be used after upgrading without any affecting to your banking transactions. You can check you new account number over the counter or from on-line banking.
In case of any further queries, please contact us:
Tel: +260-211-238686 ext 697/133
Email: banking.zm@mail.notes.bank-of-china.com
We apologize for any inconvenience that might be caused by our banking system upgrade and sincerely thank you for your support and understanding.
Bank of China (Zambia) Ltd.
06 October 2014
Dear Customer,
RE: Upgrade and Integration of the Core Banking System
Your account/s with Bank of China (Zambia) Limited ("we")
Firstly, we would like to thank you for banking with Bank of China as your custom is extremely important to us.
OUR BANKING SYSTEM UPGRADE
We have put great efforts in developing our banking IT system with the aim of providing you with a more efficient and better service and are pleased to inform you that we are in the process of upgrading and integrating out- banking IT system in order to improve your banking experience with us .We have scheduled the new banking IT system to go-live on 26 October 2014.
TRANSITIONAL SUSPENSION TIMES
Whilst our preference is to achieve the transition without causing any disruption to your usual banking arrangements, we are writing to inform you that, during the conversion period from 4:00pm Friday 24 October 2014 to 8:10am Sunday 26 October 2014, all of our banking services including any over-the-counter services, internet banking, Point-of-Sale services will be SUSPENDED for approximately 40 hours for the purpose of implementing the IT system upgrade.
After the conversion period, we will be able to provide our normal banking services as usual. You might experience some delays in processing as we grow accustomed to our new banking system. However, please be assured that we have taken and will continue to take steps to make sure the transition will be fully completed with minimum disruption to your banking arrangements.
NEW ACCOUNT NUMBER
One of the major changes caused by the system upgrade is that your account or accounts held with us will be allocated with a NEW account number/numbers. This does not mean that your existing account number will cease to be in use for your normal banking arrangements immediately. As part of the upgrade process to the new banking system, we have arranged a transition period of 1 year starting from 26 October 2014 during which you will be able to continue to use your existing account number to conduct your usual banking arrangements (unless otherwise specified by us in this letter).
Kindly note that your new account number will be generated by the new banking IT system; therefore, we will only be able to provide you with the new account number after 26 October 2014 when the new system goes live.
Please make sure that you will use your new account number to conduct your banking arrangements after you receive such notification.
Please read the following important information regarding other impacts caused by the core banking system upgrade that might affect your normal banking arrangements with us. To avoid any inconvenience, it includes some action steps that you should take prior to 24 October 2014.
CUSTOMER SERVICE HOTLINE
Kindly note that our 24 hours Customer Service Hotline will be available to assist you with your questions: 00260-211-238686-133/123/697/691, 00260-211-238271 (Zambia).You are also welcome to visit any of our retail branches in Zambia or our official website at http://www.bankofchina.com/zm/
Extended Customer Service Hotline during the conversion period
During the 40 hours conversion period, in order to better assist you with your urgent enquiries, we have also arranged an Extended Customer Service Hotline which will be available to assist you between the hours from 4:00pm Friday 24 October 2014 to 8:10am Sunday 26 October 2014: 00260-211-238686 -133/123/697/691.
IMPORTANT INFORMATION
It is VERY IMPORTANT for you to read the following information carefully and have a good understanding of the things that you need to know due to our banking system upgrade.
Corporate Internet Banking
Internet banking will be unavailable from 4:00pm Friday 24 October 2014 to 8:10am Sunday 26 October 2014. During this period, you will not be able to use any of our corporate internet banking services.
You may have limited capacity to review the current balances of your accounts held with us and search the transaction history for those accounts for up to 12 months (depending on the type of transaction and account type) during the conversion period from 4:00pm Friday 24 October 2014 to 8:10am Sunday 26 October 2014.
However, you will NOT be able to view the balance of your Passbook of Time Deposit Account, if any, after 8:10am 26 October 2014 when the implementation of the new banking system is complete. Please note that you may view the current balance of your other accounts held with us via the new corporate internet banking system.
- Internet banking interfaces layout
Corporate Internet Banking will have a new and more user-friendly interface layout after the implementation of the new system. It might take little time for you to become familiar.
- User Name, Secure Password and E-token
If you are currently a registered Corporate Internet Banking user, your User Name and Secure Password will be the same. Your existing E-token will continue to work after the system upgrades.
- Funds Transfers and Remittance
ANY funds transfers and remittance with scheduled payment date on or after 6 October 2014 will NOT be forwarded to the new internet banking system. It is therefore important for you NOT to make any funds transfer with a future payment date on or after 6 October 2014. For a future dated transfer, if you have scheduled transfers and remittance to be made on or after 6 October 2014, you will need to either schedule the payment date to a date being prior to 6 October 2014 OR to reschedule these funds transfers after 10.30am AEST Sunday 26 October 2014.
Please note that, after 10.30am AEST Sunday 26 October 2014, if you want to transfer money overseas online or to an account denominated in a currency that is different to the currency of your account with us that is to be debited with the funds to be transferred, the SWIFT BlC rode of the payee's bank will be required in order for the transaction to be processed (in addition to the payee's name and account number).
Due to the banking system update, any individual's account held with us will also be allocated with a NEW account number. As a result, if you are going to transfer money to an individual's bank account held with Bank of China (Zambia) Limited after 10.30am AEST Sunday 26 October 2014, you must obtain the NEW Bank of China account number from the individual in order for any funds transfers and remittance to go through.
It is important for you to click the "transaction status" message contained in the "Internet Banking Transaction Inquiry' function once a funds transfer is given to ensure that your instruction will be successfully processed. The "transaction status" message will only indicate the following:
(1) "Transaction successful" ---means that we have successfully transferred the funds in accordance with your instruction;
(2) "Being processed by bank---means that we are in the process of conducting the funds transfer in accordance with your instruction. For example, on one hand, if you have provided all the relevant information and comply with the relevant requirements, the transaction status will indicate "transaction successful" once the instruction has been successfully processed. On the other hand, if you have provided incomplete or incorrect information, a transaction status message will indicate "transaction failed"; or
(3) "transaction failed returned by bank---means that the funds transfer has failed and reasons for the failed transaction will also be indicated in the "transaction status' message such as "insufficient balance" in your account.
Bank statements
As an account holder, you will expect to see a change to your October account statement, coming in early October, as the new account number will appear on the statement instead of the existing account number and the bank statement will be in a new format. Your new statement of transactions relating to your account for October 2014 will be for the period from 27 to 30 October 2014 generated by the new banking system. Your subsequent statement of transactions for each month will cover a full calendar month.
Please note that you will also receive a statement of account for the period of 1 to 26 October 2014 in its existing format. Therefore, you will expect to receive two statements of account for October, one in existing format and the other one in new format.
WHAT YOU SHOULD DO
Make alternative arrangements during the conversion period so that your normal banking needs will be met in other means.
We apologize for any inconvenience that might be caused and thank you for your patience and understanding which will assist in making our IT upgrade and integration process as smooth as possible.
Yours sincerely,
BANK OF CHINA (ZAMBIA) LIMITED
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