eBanking Terms and conditions of Use


A. Dispositions générales

1.         The eBanking service in general

When Piguet Galland & Cie SA (hereinafter the Bank) accepts the application to join eBanking submitted by the Client or it representative (hereafter the Client or the User) – which finalizes the contract for use entered into with the Bank – each designated user (that is, the Client, it representative or any person authorized by one of them) receives the information needed to use eBanking. Further information can be obtained on the screen or through the mobile application Piguet Galland.


2.         Access to eBanking services

2.1       The eBanking environment comprises all services (account/deposit exclusively) held individually or jointly with the Bank by the Client and/or accessible to the user by eBanking.

2.2       Access to eBanking is available for consultation (position of an account, movements), for payment orders and messages (chat), for the transmission of securities orders, to any user at its request who has authenticated itself :

  • by its eBanking user code and password representing the first authentication factor, and
  • by a one-time code received by sms or generated via the mobile Authenticator system, representing the second authentication factor.

The Bank never communicates an Authentication Code by e-mail but by post or by making it available on site.

2.3       As soon as the user receives the first personal password remitted by the Bank, it is required to change it (by following the instructions shown on the screen). Once the password has been altered, it constitutes a code consisting of numbers and/or letters that are unknown to the Bank and are freely chosen by the user. The Bank advises users to change this combination regularly.

2.4       In order for the User to be authenticated, the Bank sends a Security SMS Code directly to the User’s mobile phone, with a limited validity period or via the use of the Authenticator system on the mobile phone.

2.5       If a User has authenticated itself in accordance with section 2.2, the Bank may consider it to be authorised to access eBanking without the need for further proof of authorisation. It is therefore entitled to the information and E-documents relating to the account(s)/deposit account(s) to which it has access.

2.6       The Bank has properly fulfilled its obligations if it has responded to enquiries received via the eBanking functions provided, except in the event of gross negligence on its part.

2.7       The Client accepts without reservation all communications received from the Bank and given to a User by means of eBanking without written confirmation. The Client also acknowledges that all instructions and communications received by the Bank via eBanking are deemed to have been issued by the User. The Client’s right of recourse against his representative or the User remains reserved.


3.         Duty of diligence of the Client and the authorized persons for the authentication codes

3.1       The User is responsible for the authentication codes remitted to it; it is recommended to take the greatest care of them. The User is required to keep its personal password secret in order to avoid misuse. Personal passwords must not be kept in written form. The Client bears all the risks resulting from a third party having knowledge of the User’s authentication codes. If the User has reason to fear that these codes have become known to an unauthorized third party, it is under an obligation to change it password immediately. If the personal authentication code gets lost, the User must immediately inform the Bank, which will take all the necessary measures as soon as possible.

3.2       In cases where the Client does no use the Authenticator mode, authentication is carried out by an unencrypted SMS code transmitter via the telephone network. Similarly, the other information sent by SMS is not encrypted. SMS are sent via the Swiss or international mobile telephone operators and the Bank uses an external service for sending SMS. These operators might become aware of the personal information that the user sends by means of SMS and might infer the existence of a banking relationship between the user and the Bank. The Bank may not be held liable for the contents of this information, nor for any delay, interruption or error. The receipt or despatch of data by SMS cannot be guaranteed either by these third parties or by the Bank or by any partner, and it may not be complete or accurate, in spite of all the care taken to ensure that the system functions properly.

3.3       If the mobile telephone or electronic equipment with which SMS are received and sent and through which the mobile application PGSA is opened is stolen, lost or forgotten, it is imperative that the user immediately blocks it SIM card with it operator or informs the Bank, which will block it access to eBanking as soon as possible.

3.4       In the event of a change in the mobile telephone number or in the electronic equipment with which SMS are received and sent, it is the user’s responsibility to inform the Bank without delay so as to ensure that the SMS services continue to operate.


4.         E-documents

4.1       In the eBanking system, the Bank makes available to the user an “e-documents” space that allows him/her to receive certain documents and supporting documents defined by the Bank. By joining eBanking, the Client agrees to receive automatically and exclusively by electronic means advice notices, statements, detailed accounts, account or securities account statements or other communications sent by the Bank. The Client accepts that when the Bank places these documents and supporting documents in eBanking, they have been duly notified to him/her and that the Bank is discharged towards the Client of its duty to inform and report to the Client. The advice notices, statements, detailed accounts and account or securities account statements as well as all other e-documents are deemed to have been acknowledged and approved after a period of one month since reception of the e-documents.

4.2       The Client’s attention is drawn to the fact that the documents and supporting documents are only available in eBanking for a maximum period of 24 months from the date on which they are made available. After this time-limit, the Bank will be entitled to invoice any duplicate copy/copies which is/are ordered. In the event that the user does not connect for a period of twelve months, the Bank reserves the right to take action which may go as far as sending the correspondence by post. The Client releases the Bank from banking secrecy in this case. By means of a written request, the Client may at any time ask the Bank to change the electronic mode of sending the documents and supporting documents addressed by the Bank and request a hard copy format.

4.3       The Client’s attention is drawn to the fact that a trace of the e-documents downloaded may be kept on the computer’s hard disk in the browser’s downloads record, depending on the browser’s parameters. It is recommended to delete them by using the browser’s function provided for this purpose, in particular when the Client connects from a computer other than it own. The browsing record may also be saved by the browser and the Client should delete it, if necessary.


5.         Messaging service and push and email notifications (optional service)

5.1       In general

The use of these services, after activation by the User, allows him/her to receive push and/or email notifications on it terminal, mobile phone or any other device. By activating this service, the User authorises the Bank to transmit, by push or email, notifications to the addresses and mobile devices that he/she has defined. In the event that the device used to receive notifications is stolen, lost or forgotten, the User must immediately deactivate this service via eBanking. Otherwise, an unauthorised third party could gain access to the information sent by the Bank. The Bank assumes no liability in this context.

By using this service, the Client and/or User is aware of and accepts the following risks :

5.2       Secure messaging service

The eBanking messaging service is designed for the communication of information and the transmission of orders or instructions of a legal nature, such as payment or stock exchange orders.

The User acknowledges that his orders will not be processed directly or at any time, taking into account the trading days and hours of the relevant stock exchanges as well as the Bank’s opening hours.

Orders shall be deemed to have been received at Swiss local time (GMT+1). Except in the case of gross negligence on its part, the Bank assumes no liability for the total or partial non-execution or late execution of orders and any resulting damages, including loss of profit.

Information and proposals transmitted by e-mail are not binding on the Bank.

5.3       Push notifications and e-mail

Notifications are sent to the device(s) at the address registered for this service. Push notifications sent by the Bank are encrypted but currently pass through infrastructures provided by external service providers, depending on the type of device used. Thus, external service providers could become aware of the content of the notifications and deduce a banking relationship between the Client and the Bank.


6.         Exclusion of liability

6.1       The Bank accepts no responsibility for the accuracy and completeness of the communications transmitted. Similarly, the communications transmitted are never binding offers, unless expressly stated otherwise. For example, information on stock and currency prices is indicative and not binding on the Bank.

6.2       eBanking traffic with the Bank is carried out via an Internet connection (not protected by default). However, communications between the Bank and the Client are encrypted in accordance with the usual standards. Once authenticated, the Client opens a secure (encrypted) session on the Bank’s eBanking site. In this respect, it is up to the Client or User to ensure that the use of encryption does not contravene the legislation of the country from which access is requested. The Bank accepts no liability for any damage that the Client or the User may suffer as a result of technical faults, malfunctions or unlawful interventions in the telephone or Internet network. In particular, the Bank shall not be liable for delays or non-receipt of SMS messages by Swiss or foreign operators.

6.3       The Bank does not accept any liability for any damage that may be caused to the equipment and assets of the Client and/or User or to data, in particular as a result of technical faults, malfunctions, unlawful interference with the equipment and/or network installations, network overloads, Internet faults and other incidents.

6.4       At present, no security device, even if it meets the most recent technical developments, can guarantee absolute security. The Client is made aware of the following risks in particular:

Deficiencies in system knowledge and preventive security measures can lead to unauthorised access (e.g., insufficient protection of the access terminal, data stored on the hard disk, file transfers, screen capture, etc.). It is the Client’s responsibility to inform himself/herself exactly about the applicable security precautions.

Monitoring of traffic by the Client’s Internet service provider cannot be ruled out. In other words, this provider has the possibility of reconstructing when and with whom the Client has been in contact.

There is a permanent risk that malicious software (“malware”) may infect the Client’s or User’s computer when using the Internet and when coming into contact with the outside world via computer networks or otherwise. It is therefore important to work only with trustworthy software and to use standard IT security measures such as firewalls.

6.5       The Bank expressly excludes any liability for the service it may have provided. Nor does it guarantee that the service will meet the User’s expectations in all respects or that it will function flawlessly in combination with other programmes selected by the User.

6.6       The Bank does not provide technical access to its services. The Client and/or User must provide this themselves. The Bank therefore assumes no liability for the network operator (provider) or for the eBanking service provided.

6.7       eBanking traffic is carried out via public telecommunication facilities that are not specially protected (telephone network, Internet network etc.). The Bank shall not be liable for any damage to the Client or its authorised representatives caused by transmission errors, technical faults, interruptions, malfunctions or unlawful interference with the telecommunications facilities.


7.         No recommendation, performance

7.1       The eBanking website and the message service do not constitute a personal investment recommendation; the same applies to other service offers. Unless expressly stated otherwise, the information contained on this website does not constitute an offer and is not financial analysis within the meaning of the SBA Directive on the Independence of Financial Analysis.

7.2       The risks associated with certain investments are not suitable for all investors, in particular derivatives and structured products. It is therefore the User’s responsibility to know its risk profile and to inform itself about the risks inherent in any decision, in particular by consulting the SBA brochure on the risks inherent in trading in financial instruments (available on the Bank’s website at :

7.3       Past performance should not be taken as a guarantee of current or future performance. An investment may appreciate or depreciate for many reasons and the investor may not get his money back. In addition, exchange rate fluctuations may cause the value of investments to rise or fall.


8.         Blocking access

8.1       After three incorrect entries of the password or the second authentication factor, the system will block the user’s access to eBanking. The blocking system can be cumulated between the two authentication factors. If there is a risk of misuse, the user can block his access himself.

8.2       The User may request the unblocking of his eBanking access by contacting the support service during the Bank’s opening hours. If the User forgets or loses it access, it can request a reset of its accesses and have them returned by post. In all cases, the Bank reserves the right to request written authorisation from the Client in order to unlock or reset its accesses.

8.3       The Bank is entitled to block the eBanking access of the Client and/or Users at any time, without giving reasons or prior notice, if it considers this necessary, in particular for security reasons.


9.         Instructions from the Client

9.1       Except in the event of gross negligence on its part, the Bank shall not be liable for the total or partial non-execution or late execution of orders and any resulting damage, including loss of profit.

9.2       The User undertakes not to exceed the amount of the assets and not to carry out any short sales on the accounts to which it has access.

9.3       The Client expressly authorises the Bank to accept any instruction received via eBanking, irrespective of the method of signature initially provided for written instructions (i.e. by a collective signature of two) and acknowledges and accepts that any instruction received via eBanking shall be deemed to originate from the Client and to have been authorised by the Client and is therefore valid and binding on the Client.


10.      Cancellation of instructions

A cancellation request by the User or a counter-order for an instruction previously transmitted to the Bank via eBanking does not necessarily result in the effective cancellation of the instructions in question.


11.      Telephone calls and other means of communication

The Client and/or User expressly authorises the Bank to monitor, record and store, without prior notice, any telephone conversations or other means of communication in connection with the eBanking website and/or the eBanking services. In the event of a dispute, the recordings of telephone conversations may be used as evidence.


12.      Fees

The Bank reserves the right to charge a fee for accessing certain information available via eBanking. The nature of this information and the charges levied will be communicated to the User through the eBanking system.


13.      Termination

13.1    The Client and the Bank may, at any time, terminate the use of eBanking in whole or in part, subject to termination in writing.

13.2    If the user does not use the eBanking services for more than 12 months, the Bank reserves the right to cancel it access, which will also automatically terminate the eBanking contract.

13.3    In the event of termination of eBanking, the statements, advice notices and other documents shall be remitted to the Client according to the instructions for correspondence or, failing this, be kept at the Bank.


14.      Amendment of the contract

14.1    The Bank reserves the right to amend or delete at any time the content of the services provided, the present terms and conditions and their additional provisions. In particular, the Bank is entitled to alter the authentication system provided for in section 2., in particular so as to take into account any technological developments.

14.2    Amendments to the present terms and conditions of use shall be notified to the Client or the User through the e-Banking system or by any other means deemed appropriate by the Bank and shall be deemed approved unless a notice to the contrary is received from the Client unless the Client and/or the User gives notice to the contrary within one month of receipt.


15.      General Terms and Conditions, applicable law and place of jurisdiction

The General Terms and Conditions of the Bank shall also be applicable to these terms and conditions and to their additional provisions. In particular, the place of performance, the place of jurisdiction for clients domiciled abroad and the sole place of jurisdiction in any kind of proceedings shall be the place where the head office, branch or branch office of the Bank that is designated when the account is opened is located. However, the Bank reserves the right to take legal action at the place of domicile of the Client or before any other competent court.


B. Provisions for national and international credit transfers

1.         Conditions for the execution of a payment order

a. For Piguet Galland & Cie SA (hereinafter “the Bank”) to be able to execute a transfer for a Client who  has requested  this  service and who has been duly identified as having an eBanking account and sufficient funds available (hereinafter the “payment order”), the conditions below must be met. Payment order data must be complete, accurate and consistent. The User must indicate:

  • the number or IBAN of the account to be debited;
  • the amount to be transferred and the relevant currency;
  • the number or IBAN of the bank or postal account to be credited;
  • if the beneficiary is an individual, the individual’s first and last names and address; if the beneficiary is a legal entity, the entity’s name and address;
  • the BIC (Bank Identifier Code) and/or the name and address of the beneficiary’s financial institution;
  • the execution date requested for the payment order.

The Client nevertheless authorises the Bank to debit the payment amount on the basis of the IBAN/account number indicated or the codes on the payment slip only, without checking these data against the beneficiary’s name and address. The Client may provide a payment description.

b. Available funds

At the time the payment order is executed, the account to be debited as indicated by the Client must have a balance or a credit limit of at least the amount of the payment order.

c. No prohibition/restriction on right of disposal

There must be no legal or regulatory provision, administrative or judicial decision or agreement (e.g., a pledge on the account assets) that prohibits execution of the payment order.

When one order contains several payments, the foregoing conditions must be met for each of the payments contained in the order, failing which the entire order may be rejected.


2.         Execution of the payment order

If the foregoing conditions are met, the Bank shall execute the payment order on the date requested by the originator (“value date”); provisions concerning the credit/debit date and the cut-off time remain applicable.

The Bank shall have the right, but not the obligation, to execute the payment order even when the information provided by the originator is inaccurate or incomplete, provided that the Bank can correct and/or complete this information itself.

The Bank shall decide at its discretion whether or not to execute the payment order if sufficient funds are not available.

The account indicated by the originator shall be debited on the execution date (i.e. the value date).

The Bank has no influence over the date on which an account with another financial institution  is credited. The Client may make no claim of any kind against the Bank as a result of such delays.


3.         Amendment or cancellation of a payment order

Amendments to or cancellation of a payment order already submitted by the Client or User must, as a general rule, be transmitted by the originator via the eBanking system or in writing, before the cut-off time. Any special agreements made with the Client remain applicable. Standing orders remain valid until cancelled by the Client or the User.


4.         Cut-off time

The cut-off time for payment orders to be executed on the same day is 12pm (CET).

Any payment order that the Bank receives after this cut-off time cannot generally be executed until the next business day.


5.         Non-execution or rejection of a payment order

If one or more of the foregoing conditions are not met or if there are grounds that prevent the payment order from being executed (e.g., legal, regulatory or internal provisions, official rulings, non-existent account, missing data) and the Bank therefore does not execute the payment order, or another party to the transaction (e.g., the clearing house or the beneficiary’s financial institution) refuses to execute the order even though the Client’s account has already been debited, the Bank shall inform the Client within a reasonable timeframe and in an appropriate manner, specifying the reason for the refusal. If the Client’s account has already been debited, the Bank shall credit the payment amount back to that account once the beneficiary’s financial institution has returned the payment. If the payment order required a currency conversion, the provisions applicable to currency conversion and exchange rate risk shall apply.

If the Bank is able to rectify the shortcomings that caused the payment order to  be rejected, the Bank shall have the right, but not the obligation, to execute the order again, without consulting the originator.


6.         Credit

Every incoming payment shall be credited to the account corresponding to the account number or the IBAN indicated in the payment order. The Bank is not required to check these data against the beneficiary’s name and address.

However, if the currency of the beneficiary account indicated in the payment order is not the same as the currency in which the payment order is denominated, and the Client has another account in the currency indicated in the payment order, the Bank may decide to credit that account instead.


7.         Waiver of data verification

In cases where the Client is the beneficiary, it authorises the Bank to credit the payment amount to its account on the basis of the IBAN or account number indicated in the payment order alone, i.e. without checking   it name and address against those appearing in the order.

In cases where the Client is the originator, it agrees that the beneficiary’s financial institution may credit the payment amount on the basis of the IBAN or account number indicated in the payment order alone, i.e. without checking the account holder’s name and address against the IBAN or account number in the payment order. The beneficiary’s financial institution nevertheless reserves the right to verify such information when it appears necessary and to reject payment orders with inconsistencies.


8.         Return of incoming payments

Incoming payments in which no IBAN or account number or a non-existent IBAN or account number is provided, or that cannot be credited for any other reason (e.g., legal or regulatory provisions, administrative or judicial decisions, closed  account) shall be returned to the originator’s financial institution

The Bank nevertheless reserves the right to credit incoming payments for which no IBAN or account number is indicated if these payments are not made under SEPA (“Single  Euro Payments Area”)  rules and the information  provided  allows the Bank to  identify the beneficiary.

If the Bank returns an incoming payment, it is authorised, but not required, to inform all parties to the transaction, including the originator, of the reasons.


9.         Credit/debit date

If the credit or debit date falls on a Saturday, Sunday or holiday, the Bank is authorised, except as otherwise agreed with the Client, to postpone the credit or debit transaction until the first business day following this date.

In cases where the Client is the originator of an international payment, it acknowledges that a credit transaction may also be delayed based on the business days and holidays in the country concerned, for which the Bank cannot be held responsible.


10.      Credit/debit notifications

Notifications of executed credit and debit transactions shall be made available to the Client in an appropriate manner within a maximum period of one month. Any special agreements regarding the date, form and type of notification shall remain applicable.


11.      Currency conversion and foreign exchange risk

If the Client does not hold an account in the currency in which the payment amount to be credited or debited is denominated and the Client does not give any instructions to the contrary, this amount will be credited or debited in another currency using an account chosen by the Bank.

The necessary currency conversion shall be carried out on the basis of the exchange rate applied by the Bank to the transaction in question at the time it is processed.

Any foreign exchange risks incurred (e.g., in the event of a rejected/returned payment) shall be borne by the Client.


12.      Fees

The Bank is authorised to charge fees for executing payment orders (including rejection thereof), for processing incoming payments  (including return thereof) and for currency conversions.

The Bank shall be entitled to debit these fees directly from the Client’s account.

The Client shall be informed of the fee terms and conditions in an appropriate manner. The Bank may amend the fee terms and conditions at any time, and the Client shall be informed of any amendments in an appropriate manner.


13.      Data processing and transmission

The Client agrees that   the   Client’s   data,   in particular its name, address, IBAN or account number and, generally speaking, all information provided to the Bank, may be disclosed to the banks involved in executing the Client’s domestic and international payment orders (including Swiss and foreign correspondent banks), to Swiss and foreign payment settlement systems (e.g., SIC and SWIFT) and to the beneficiaries of such orders in Switzerland and abroad. The Bank’s general Terms and Conditions shall also apply.


14.      Exclusion of liability in the event of delay, blocking or non execution of incoming and/or outgoing payment transactions

The Client acknowledges that the Bank is not required to execute payment orders or to process incoming payments that violate applicable law, regulatory provisions or decisions by the competent authorities, or that otherwise fail to respect the Bank’s internal or external codes of conduct (e.g., rules concerning embargos or money laundering). The Bank shall not be held liable for damages resulting from any such delays, blocking or non-execution, even if the Bank had not informed the Client about the situation.

The Client also acknowledges that international or foreign regulations and measures (e.g., foreign payment systems, legal and regulatory restrictions, and sanctions) or regulations and measures of third-party financial institutions or other events beyond the Bank’s control may  result in payment transactions being delayed, blocked or not executed. The Bank shall not be held liable for damages resulting from any such delays, blocking or non-execution, even if the Bank had not informed the Client about the situation.


15.      Client’s duty of care and data

It is the Client’s responsibility to protect access codes, passwords and access to mobile devices as well as all documents such as payment advices and notifications from misuse by unauthorised persons. Moreover, if the Client looses the access code or password or observes that one of the Client’s accounts has been credited or debited by mistake, or that an incorrect amount has been credited or debited, the Client must inform the Bank immediately.


16.      Other applicable conditions

Furthermore, the Bank’s General Terms and Conditions shall apply.


The Piguet Galland & Cie SA website (the "Site") describes the activities of Piguet Galland & Cie SA in Switzerland. Piguet Galland & Cie SA does not offer its services outside of Switzerland, and the Site is meant solely for individuals and legal entities domiciled in Switzerland, along with existing clients of Piguet Galland & Cie SA.

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