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eDDA User Terms

HashKey Team
  • Updated
eDDA User Terms
(Last update: June 4, 2025)
THESE TERMS, TOGETHER WITH THE INVESTOR BUSINESS TERMS, RELATED ACCOUNT OPENING DOCUMENTS, THE EXCHANGE RULES, ANY OTHER RELEVANT AGREEMENTS INTO WHICH THE CLIENT AND HBL HAVE ENTERED, CONSTITUTE THE ENTIRE AGREEMENT AND CONTAINS IMPORTANT TERMS AND CONDITIONS APPLICABLE TO THE ACCOUNT.
HBL MAY IN ITS ABSOLUTE DISCRETION DISCLOSE TO THE CLIENT THE RISKS OF THE CLIENT’S USE OF THE SERVICES FROM TIME TO TIME. THESE TERMS DO NOT FULLY DISCLOSE THE RISKS OR MATERIAL ASPECTS OF CONDUCTING TRANSACTIONS OR USING THE SERVICES. THE CLIENT SHOULD NOT CONSTRUE THESE TERMS AS LEGAL, TAX OR FINANCIAL ADVICE. HBL IS NOT ACTING AS THE CLIENT’S FINANCIAL ADVISOR AND THE CLIENT MUST NOT REGARD HBL AS ACTING IN THAT CAPACITY. THE CLIENT SHOULD CONSULT ITS OWN INDEPENDENT PROFESSIONAL ADVISORS BEFORE ENTERING INTO ANY TRANSACTION AND ONLY USE THE SERVICES IF THE CLIENT HAS FULLY UNDERSTOOD THE NATURE, THE CONTRACTUAL RELATIONSHIP INTO WHICH HE IS ENTERING, ALL RELEVANT TERMS AND CONDITIONS AND THE NATURE AND EXTENT OF THE CLIENT’S EXPOSURE TO LOSS. THE CLIENT HAS BEEN RECOMMENDED TO READ THESE TERMS CAREFULLY AND RETAIN THESE FOR THE CLIENT’S RECORDS.
 
To:
Hash Blockchain Limited
Unit 614-615, Level 6, Core D,
Cyberport 3, 100 Cyberport Road, Hong Kong
(“HBL”, “we” or “us”)
 
By applying to HBL to set up eDDA (as defined below), you (the Client) have read and agree to be bound by the following terms and conditions which will apply to any use of eDDA related Services which HBL may provide to you from time to time.
 
  1. In these eDDA User Terms (“these Terms”), except where the context otherwise requires, the following words and phrases shall have the following meanings:
“Applicable Requirements” means any law, regulation, court order, or any rule, direction, guidelines, code, notice or restriction (whether or not having the force of law) issued by the Hong Kong Monetary Authority, any regulatory authority, governmental agency (including tax authority), clearing or settlement bank or exchange, or industry or self-regulatory body, whether in or outside Hong Kong, to which HBL, BANK (as defined below), HKICL (as defined below) or any other Participant Banks (as defined below) or their respective Affiliates or group companies, or any users are subject or are expected to comply with from time to time;
“Designated Bank Account” means same name account in your sole name maintained with a Participant Bank;
“eDDA” means a direct debit authorization set up by electronic means using HKICL FPS (as defined below);
“eDDA Service” means the service provided by HKICL as part of HKICL FPS to facilitate a payer (a customer of a Participant Bank) to set up direct debit authorization with a Participant Bank and to make payments to a designated account maintained by a payee with a Participant Bank;
“eDDI” means electronic direct debit instruction;
“HKICL” means Hong Kong Interbank Clearing Limited and its successors and assigns;
“HKICL FPS” means the Faster Payment System and related facilities and services provided, managed and operated by HKICL from time to time for: (i) processing direct debits and credits, funds transfers and other payment transactions; and (ii) exchanging and processing instructions relating to eDDA Service and other ancillary services;
“BANK” means the Participant Bank (including its successors and assigns) chosen by HBL for eDDA Service;
“Participant Bank” means an Authorized Institution operating in Hong Kong which participates in HKICL FPS and is capable of processing its customers’ funds transfer instructions through the HKICL FPS;
Capitalized terms that are not otherwise defined in these Terms shall have the same meaning contained in the Investor Business Terms.
  1. Prior to making a request to HBL for eDDA, you shall:
     
    • specify a Designated Bank Account;
    • review and understand the relevant terms stipulated by your Participant Bank in respect of eDDA Service and the threshold amounts imposed in respect of a category of payment/debit;
    • familiarize yourself with the functions, features and limitations of the eDDA Service;
    • evaluate fully the risks associated with using eDDA Service, which may include but are not limited to:
      malware attack or hacking or sabotage of bank customers’ accounts resulting in confidential banking information and transaction authentication codes being stolen;
        anti-virus software lagging behind, undermining the effectiveness of using mobile devices for the purpose of second factor authentication of internet banking transactions; and banking information being stolen and misused to create unauthorized direct debit transactions;
    • ascertain from your Participant Bank procedures for cancelling your eDDA; and
    • if necessary, seek independent advice from your legal, financial and other professional advisers
     
  2. You understand and acknowledge that:
    • you are requesting HBL to set up any eDDA for you subject to these Terms, the terms and conditions stipulated by a Participant Bank and Applicable Requirements;
    • HBL may in its sole and absolute discretion refuse your request for eDDA or discontinue the eDDA arrangement at any time without giving reason and without liability;
    • the delivery of eDDA Service request by you to HBL constitutes delivery by you to the Participant Bank administering your Designated Bank Account (“your Participant Bank”);
    • the eDDA is provided for the benefit of HBL, your Participant Bank and BANK, and is provided in consideration of and subject to BANK and your Participant Bank in agreeing to process the eDDA in accordance with Applicable Requirements and their internal policies; and
    • HBL will notify you if your Participant Bank accepted the eDDA request; if your Participant Bank rejects the eDDA request or if your Participant Bank does not respond, HBL will not notify you of the result of the eDDA request and will not assume any liability for it.
  3. For the purpose of setting up the eDDA and subject to approval by BANK and your Participant Bank, you agree and authorize HBL to collect, use, process, retain, transfer and release your personal data and bank account information (including but not limited to Customer’s name, your UID in HBL, registered mobile, ID / passport number and number of your Designated Bank Account) to BANK and your Participant Bank, for the following purposes:
    • identifying and communicating with you;
    • processing and submitting the eDDA request to your Participant Bank via BANK;
    • processing instructions and payments for eDDA purpose;
    • answering enquiries from you, BANK or your Participant Bank regarding eDDA Service and eDDI;
    • meeting any disclosure requirements under any Applicable Requirements; and
    • purposes relating or ancillary to any of the above.
  4. To give effect to any eDDI initiated by you using our website and/or our mobile application, you unconditionally and irrevocably authorize and direct HBL to arrange such real time direct debits via eDDA from your Designated Bank Account to your Account with HBL for:
    • the total consideration of the completed orders/instructions placed by you or on your behalf;
    • such amount of money for settlement of any and all payments of levies, duties, taxes required under Applicable Requirements;
    • such amount of initial deposit required for account opening in accordance with the Applicable Requirements;
    • any amounts payable by you to HBL including, without limitation, any applicable fees, costs, charges, expenses and commissions payable by you to HBL or its Affiliates;
    • interest accrued on the aggregate outstanding amount due and owing to HBL or any of its Associated Entities, nominees or Affiliates for the time being;
    • all Losses incurred by HBL in relation to carrying out any eDDI;
    • fees and charges of BANK in respect of processing any eDDI; and
    • any sum paid into your Designated Bank Account erroneously or any entry made into your Designated Bank Account as a result of a system error or human error.
Please refer to our website for the latest service hour regarding eDDI. If you initiate an eDDI outside HBL’s service hours, you agree that HBL may, without liability, route the eDDI to your Participant Bank during the next service window.
  1. You agree that:
    • eDDA is not applicable to joint name bank account;
    • your Participant Bank and BANK shall not be obliged to ascertain whether or not notice of any such transfer has been given to you;
    • the eDDA hereunder will continue to be in force and effect as long as you continue to use our Service until further notice; if you want to cancel or change the settings of the eDDA, you may contact your Participant Bank directly;
    • to initiate a fund transfer through eDDA, you are required to initiate a new fund transfer instruction (i.e. eDDI).
    • any eDDI or request received by us, believed by us in good faith to be given by you, will be irrevocable and binding on you;
    • should there be insufficient funds in your Designated Bank Account to meet any debit/transfer authorized by these Terms, your Participant Bank may in its sole and absolute discretion, refuse to effect such a debit/transfer and may cancel the eDDA at any time without notification to you;
    • your Participant Bank may also, in its sole and absolute discretion, cancel the eDDA at any time without prior notice and without giving reasons (even though the eDDA has not expired or there is no expiry date for the eDDA) and refuse to process any eDDI, and if such authorization is cancelled by your Participant Bank, you should make direct enquiries with your Participant Bank;
    • BANK may also terminate its eDDA Service at any time and suspend or withdraw at any time any of its eDDA Service or part thereof;
    • HBL, BANK and your Participant Bank will not accept any request to cancel or vary any of the eDDI;
    • eDDIs sent via online transmission cannot be guaranteed to be secure or error free as they can be intercepted, hacked, corrupted, lost, arrive late or contain viruses, malware and other problems and that HBL, BANK and your Participant Banks in your eDDA arrangement do not have any liability for any errors or omissions in, or late or failure of arrival or receipt of, any eDDI sent via online transmission;
    • HBL, BANK and your Participant Bank may treat all eDDIs as properly authorized by you, even if made fraudulently and they are not obliged to put in place additional security measures to verify the validity of such authorization and you agree and that the processing of eDDIs may be delayed or declined as a result of these lack of measures, and that HBL, BANK and your Participant Bank will not be liable for any losses arising from such delay or refusal to act; and
    • where you have set up eDDA on your Designated Bank Account but no fund transfer is made pursuant to that authorization for a significant period of time, HBL may at its sole and absolute discretion and without prior notice and without liability to you cancel the eDDA, even if that authorization has not expired or is not subject to an expiry or termination date.
  2. You shall:
    • provide HBL with all necessary information and documents for the purpose of processing the eDDA request, and confirm and undertake that any information or documents provided is complete, true and accurate;
    • comply with these Terms, Applicable Requirements and policies of BANK and of your Participant Bank in connection with your use of eDDA Service and sending and processing of any eDDI;
    • check the accuracy and completeness of any eDDI, and HBL, BANK and the Participant Banks shall be under no obligation to check or verify the same and accepts no responsibility or liability in respect thereof;
    • take full responsibility for any overdraft (or increase in existing overdraft) on your Designated Bank Account which may arise as a result of any debit or transfer effected through any eDDI;
    • inform HBL immediately, in writing, of any change in your Designated Bank Account (e.g. account suspension/closure, change of account number etc.) or other information (e.g. mailing address, telephone number etc.);
    • maintain sufficient funds in your Designated Bank Account at the time of the transfer/debit authorized by these Terms to cover any eDDI;
    • observe the cut-off time for eDDI processing and ensure that your funds reach HBL in a timely manner to fulfill your settlement obligation under the relevant transaction;
    • if your eDDI is rejected, check the balance and transaction limit of your Designated Bank account and arrange for deposit of funds with us promptly via other means as may be directed by HBL;
    • pay the necessary charge or administration fee levied by your Designated Bank Account should your eDDI not effected and be returned due to insufficient funds, account suspension or account closure or other reasons;
    • if any delay, unavailability, disruption, failure or error or other matter (as mentioned in Clause 8 below) occurs in respect of the eDDA Service and eDDI, arrange for deposit of requisite funds with HBL promptly via other means as may be designated by HBL;
    • monitor your Designated Bank Account closely and ensure that debits/transfers of funds are correct or accurately recorded (as the case may be);
    • seek assistance promptly from your Participant Bank if you have made a mis-transfer of funds; and
    • where either HBL, BANK or your Participant Bank has reason to believe that an eDDI is not properly authorized, or that any other breach of security has occurred in relation to the trading platform or your use of the real time direct debit services, HBL reserves the right not to process, or to delay processing the eDDI, and HBL will inform you as soon as reasonably practicable; HBL shall not be liable for any of such non-processing or delayed processing.
  3. You agree and confirm that neither HBL, HBL’s directors, officers, employees, Associated Entities, nominees and Affiliates shall be liable to you for any loss, damage, cost, fee or expense of any kind, which you or any other person may incur or suffer arising from or in connection with:
    • setting up of eDDA for your Designated Bank Account;
    • rejection of your application for eDDA Service;
    • processing or execution of eDDI, except to the extent that the loss, damage or expense arises directly and solely from our own fraud, gross negligence or wilful default;
    • any losses which you may suffer from anything which HBL, BANK, or your Participant Bank does or omits to do (in the absence of fraud, gross negligence, wilful default or bad faith on the part of HBL) in connection with the eDDA or processing of any eDDI;
    • anything done or omitted to be done because of any legal requirement, any requirement of a regulatory body or authority or an order or direction of a court or tribunal;
    • any inability to act as a result of any eDDI being unclear or incomplete;
    • any delay, unavailability, disruption, failure or error of or caused by BANK or your Participant Bank;
    • any delay, unavailability, disruption, failure or error of HKICL FPS or related facilities or services;
    • any delay, unavailability, interruption, failure or error of the Internet, mobile platform or any electronic, computer or other system; or
    • anything beyond the control of HBL, BANK, or your Participant Bank.
In the event that HBL is found to be liable to you, you agree that the total liability of HBL under this clause shall not exceed the total commission received by HBL from the relevant transactions involving eDDI transmission.
  1. IN NO EVENT SHALL HBL BE LIABLE TO YOU OR TO ANY THIRD PARTY FOR ANY INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES (INCLUDING BUT NOT LIMITED TO SUCH DAMAGES ARISING FROM BREACH OF CONTRACT OR WARRANTY OR FROM NEGLIGENCE OR STRICT LIABILITY), IN CONNECTION WITH THESE TERMS, EVEN IF HBL HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES AND REGARDLESS OF THE LEGAL OR EQUITABLE THEORY (CONTRACT, TORT OR OTHERWISE) UPON WHICH THE CLAIM IS BASED.
  2. To the extent permissible under Applicable Requirements, you shall fully indemnify HBL, HBL’s directors, officers, employees, Associated Entities, nominees and Affiliates and hold all such persons harmless against all actions, claims, proceedings, losses, damages, taxes, expenses and costs arising out of or in connection with:
    • the acceptance and acting on your instructions to raise a request for eDDA;
    • the acceptance and acting on any eDDI initiated by you;
    • performing HBL’s obligations hereunder;
    • any breach by you of your obligations or of these Terms;
    • anything done or omitted to be done by HBL in reliance on instructions or communications which HBL in its sole and absolute discretion believes to have been given by you or on your behalf or any failure of you to give instructions;
    • any proceeding or investigation by or on behalf of any regulatory body; and
    • any action by HBL taken in good faith to comply with any Applicable Requirements.
  3. HBL may revise these Terms at any time and from time to time after giving such reasonable notice as may be required by any Applicable Requirements or by our internal policy. Such provisions, any revision and/or additions thereto shall become effective when brought to your attention by way of notice and shall be deemed to have been accepted by, and binding on you if you continue to use our Services after the effective date of such notice.
  4. Save as stated in these Terms, no person other than you or us will have any right under the Contracts (Rights of Third Parties) Ordinance (Cap. 623 of the Laws of Hong Kong) to enforce or enjoy the benefit of any of the provisions of these Terms.
  5. In case of discrepancies between the English and Chinese versions of these Terms, the English version shall apply and prevail.
  6. These Terms shall be governed by and construed in accordance with the laws of Hong Kong, regardless of any conflict of law or choice of law theory. The Jurisdiction clause in the Investor Business Terms shall also apply to these Terms.

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