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The Current Account Agreement is a fundamental banking document used in Hong Kong to establish the legal relationship between a financial institution and its customers for the provision of current account services. This agreement is essential for any bank operating in Hong Kong's financial system and must comply with the Hong Kong Banking Ordinance, Anti-Money Laundering regulations, and other relevant financial services legislation. The document covers all aspects of account operation, from opening procedures to termination, and includes provisions for electronic banking, security measures, and customer identification in accordance with Hong Kong regulatory requirements. It serves both retail and corporate customers and forms the basis for daily banking transactions, incorporating provisions for modern banking services while maintaining traditional banking safeguards.

1. Parties: Identification of the bank and account holder(s)

2. Background: Context of the agreement and relationship between parties

3. Definitions: Definitions of key terms used throughout the agreement

4. Account Opening and Operation: Requirements and procedures for opening and operating the account

5. Account Holder's Instructions: Methods of giving instructions and bank's authority to act on them

6. Deposits and Withdrawals: Terms governing deposits, withdrawals, and transaction processing

7. Interest and Charges: Interest calculation, bank charges, and fee structure

8. Account Statements: Frequency, format, and verification of account statements

9. Security and Access: Security measures, PIN/password requirements, and access protocols

10. Bank's Rights and Obligations: Bank's responsibilities, rights, and limitations of liability

11. Customer's Rights and Obligations: Customer's responsibilities, representations, and warranties

12. Joint Accounts: Specific provisions for joint account operation and survivor rights

13. Death/Bankruptcy/Liquidation: Procedures in case of death, bankruptcy, or liquidation of account holder

14. Set-off and Lien: Bank's rights of set-off and lien over account balances

15. Termination: Conditions and procedures for account closure and agreement termination

16. Governing Law and Jurisdiction: Application of Hong Kong law and jurisdiction of Hong Kong courts