| 1 |
Kotak - VISA Money Transfer offers the Kotak Mahindra
Bank Account Holder/ User, online funds transfer from
his Kotak Mahindra bank account to any domestic VISA
Debit /Credit card. |
| 2 |
Kotak - VISA Money Transfer is provided by Kotak Mahindra
Bank at the Account Holder’s/ User’s request,
which request shall mean the Account Holder’s/User’s
authorisation for debiting the Account Holder’s/
User’s account towards the amount of such transfer,
together with the charges, if any. |
| 3 |
To effect Kotak - VISA Money Transfer, the Account Holder/
User shall provide to Kotak Mahindra Bank all the information
as required under the relevant screen including: beneficiary
Card Number, Transfer Amount etc. in absence of which
the Bank shall not be liable to effect the Kotak - VISA
Money Transfer. |
| 4 |
The Kotak - VISA Money Transfer service is only applicable
for credits to VISA Cards issued in India. This service
is not applicable for cards issued by any other issuing
authority. |
| 5 |
The Account Holder/ User agrees that the transfer shall
become irrevocable as and when it is accepted and executed
by the Bank. |
| 6 |
While Kotak Mahindra Bank shall endeavour to ensure
that transfers are not made to any card not issued in
India, the onus shall lie on the customer to ensure
that there are no violations being done by him of any
laws applicable in India and/or otherwise but not limited
to FEMA or Exchange Control violations, Anti Money Laundering
Law, including any rules, regulation, notifications
thereunder, and the Account Holder/ User shall be held
liable for any liability arising in respect thereof. |
| 7 |
Kotak Mahindra Bank shall transfer the funds only to
the card number of the beneficiary. While the Bank may
at its discretion obtain certain other details of the
beneficiary like: Name, Address, Bank name etc. the
Bank is in no way responsible to verify or authenticate
the same. |
| 8 |
While Kotak Mahindra Bank shall endeavour to effect
the Kotak - VISA Money Transfer instruction at the earliest
on receipt of the instructions, it does not guarantee
and shall not be held responsible for performance hereunder. |
| 9 |
Kotak Mahindra Bank shall process all valid transactions
received till 5 pm on working days on the next working
day; however the Bank is not responsible for the period
within which the beneficiary Bank will credit the proceeds
to the beneficiary card. Working day shall mean a day
when the offices of the Reserve Bank of India are open
in Mumbai. |
| 10 |
All transactions shall be processed only on working
days. Transactions done on Sundays and Bank holidays
will be processed on the next working day. |
| 11 |
The Bank shall assume
no responsibility for:
 |
Kotak
- VISA Money Transfer transactions carried out
in good faith relying on Account Holder’s/
User’s instructions. |
|
Not carrying out Kotak - VISA Money Transfer transactions
where the Bank has reason to believe in its sole
discretion that the instructions are not genuine
or are otherwise unclear, improper, vague, or
doubtful. |
|
For
the performance of VISA or any other entity involved
in the process; and for any loss or damage incurred
or suffered by the Account Holder/ User for any
error, defect, failure or interruption of Kotak
- VISA Money Transfer service or consequences
arising out of delayed payments. |
|
Any
loss of damage arising or resulting from delay
in transmission delivery or non-delivery of Electronic
messages or any mistake, omission, or error in
transmission or delivery thereof or in deciphering
the message from any cause whatsoever or from
its misinterpretation received or the action of
the destination Bank or any act or even beyond
control. |
|
| 12 |
Kotak Mahindra Bank may also make additions/ deletions
to the services offered through any of its channels
at its sole discretion. The availability/ non-availability
of a particular service shall be informed to the Account
Holder through email, web site of the bank or by written
communication. |
| 13 |
The Account Holder/ User is entirely responsible for
providing the correct Card Number of the beneficiary.
The Bank will process all transactions only on the basis
of the information provided by the User. The Bank will
not be responsible for any erroneous transfer/credit,
if an erroneous card number is provided by the Account
Holder/ User. The Bank will also not be responsible
to reverse such a wrong transaction. |
| 14 |
Kotak Mahindra Bank reserves the right to withdraw the
service at any time at its discretion. |
| 15 |
These terms & conditions are to be read in conjunction
with Terms and Conditions and Rules for Accounts and
Services of the Bank. |
