| |
KOTAK MAHINDRA BANK
PREPAID RUPEE VISA DEBIT CARD
Definitions
In this document the following words and phrases shall have
the following meanings:
 |
“ATM”
means an Automated Teller Machine of the Bank in India
at which the Cardholder can use his Card to access
funds in the Card Account. |
|
“Applicant”
in relation to a Card means a person who applies for
and receives the Card from the Bank. |
|
“Available
Amount” means in relation to a Card,
the amount available at a given point of time for
use on the Card, being a sum of amount(s) deposited
in the Card Account as reduced by a) the amount(s)
utilized by using the Card for Transaction(s); and
b) charges, costs and expenses on the Card charged
by the Bank to the Card Account. |
|
“Bank”
means Kotak Mahindra Bank Limited, a company incorporated
in India under the Companies Act 1956 and a banking
company within the meaning of the Banking Regulation
Act, 1949 and having its registered office at 36-38A,
Nariman Bhavan, 227 Nariman Point, Mumbai-400 021
and includes its successors and assigns. |
|
“Beneficiary”
in relation to a Card means a person receiving the
Card from the Applicant and assuming the obligations
of and agreeing to the covenants of the Applicants.
However, the Bank will not be liable or responsible
in any manner to the Beneficiary. |
|
“Card”
means a Prepaid Rupee Visa Debit Card issued by the
Bank to a Cardholder in terms hereof. |
|
“Cardholder”
means in relation to a Card, the Applicant or the
Beneficiary of the Card. |
|
“Card
Account” means an account maintained
by the Bank in relation to a Card |
|
“EDC”
means Electronic Data Capture terminal, printer, other
peripheral and accessory and necessary software to
run such device. |
|
“Electronic
Media” includes (though not restricted
to) ATMs; phonebanking; POS. |
|
“Merchant”
or “Merchant Establishment means an establishment
which has an arrangement with Card program member
bank(s) to accept and honour Cards for the sale of
goods and services by the Merchant to the Cardholder.
Merchant shall include among others, stores, shops,
restaurants, airlines, advertised from time to time
by the Bank, Visa International or the Merchant honouring
the Card. |
|
“PIN”
means the Personal Identification Number and means
and includes any randomly generated secret and confidential
number, allotted by the Bank to the Cardholder and/or
subsequently changed by the Cardholder as per his
choice, required for using a Card on an ATM allocated
by the Bank. |
|
“POS”
means Point of Sale Terminals in India at which amongst
other things, the Cardholder can use his Card to access
his funds in the Card Account. |
|
“Terms”
shall mean Terms as may exist now and as may be amended
from time to time. |
|
“Transaction”
means an instruction or an inquiry or communication
as appearing in the Bank’s records, given or
made by a Cardholder using a Card directly or indirectly
to the Bank to effect a transaction, whether via ATM,
EDC, POS or any other device of the Bank or of the
Bank’s shared network. |
|
“Visa”
is the trade mark owned by Visa International and
is displayed at Merchant Establishments of Visa International. |
Application for a Card
| 1 |
A person desirous of availing of a Card should apply
to the Bank by submitting the Prepaid Rupee Visa Debit
Card Application Cum Reload Form prescribed by the Bank
duly filled in together with proof of identification
and residence and the amount to be deposited in the
Card Account along with issuance charges prescribed
by the Bank. |
| 2 |
The Bank shall have the right to accept or reject any
application at its discretion without assigning any
reason. |
| 3 |
The Bank shall credit the amount(s) deposited by the
Cardholder with the Bank in relation to a Card to the
Card Account relating to the Card. |
Card Security
| 1 |
The Cardholder agrees and acknowledges that he shall
be solely responsible for maintaining secrecy of the
PIN. The Cardholder must comply with any other requirements
designed to protect the security of his use of the Electronic
Media, which are set out in the guidelines or notified
to the Cardholder from time to time. |
| 2 |
To ensure that the Cardholder alone is able to access
and give instructions through Electronic Medium, he
must at all times comply with the following security
procedures. (i) Customer shall change the PIN initially
allotted by the Bank; (ii) not choose a PIN which he
has used before or which is likely to be guessed by
anyone; (iii) to safeguard his PIN at all times and
not to disclose any details of his PIN to anyone else
(including a member of the Bank staff); (iv) not record
PIN in a way whereby it will be legible or accessible
to any third party; (v) preferably memorize PIN and
then destroy any record of it; (vi) not allow anyone
to operate the Services through Electronic Media on
his behalf; (vii) not leave any system unattended while
he is logged on to the Electronic Media and each time
he goes away from such system to log-out from Electronic
Media; (viii) not access the Electronic Media from any
equipment or device connected to a local area network
(or LAN), such as an office environment, without first
ensuring that no one else is able to observe or copy
his PIN. The Cardholder shall indemnify the Bank if
any loss is suffered by the Bank due to failure to comply
with the above security procedures. |
| 3 |
If the Cardholder discovers or suspects that his PIN
or any part of them are known to someone else, he must
immediately change the PIN through the Bank’s
ATM. |
| 4 |
Loss
of PIN: If the Cardholder forgets or loses the PIN he
shall inform the Bank in the manner prescribed by the
Bank. |
| 5 |
The
Cardholder agrees and acknowledges that he shall be
solely responsible for the security of the Card and
ensure all steps towards the safekeeping and authorized
use of the Card. |
| 6 |
The
Bank will initially allot a PIN on a Card and Cardholder
shall ensure that the Card and the PIN are received
in a sealed envelope. |
| 7 |
The
security of the PIN is very important and breach of
any of the above requirement shall amount to unauthorized
use of the Card without the Bank being liable for such
use. |
| 8 |
The Card should be signed on the reverse of the Card.
The signature on the reverse of the Card should only
be of the Cardholder intending to use the Card. If the
Applicant is gifting the Card to some one else then
the Beneficiary of the Card needs to sign on the reverse
of the Card on receipt of the Card to avoid it’s
unauthorized use. |
Card Validity & Use
| 1 |
The Card shall be valid only in India. |
| 2 |
The Card shall be valid for 2 years from the date of
issue ,which is marked on the face of the card. |
| 3 |
The Applicant in relation to a Card may use the Card
personally or deliver it to the Beneficiary for its
use by the Beneficiary. |
| 4 |
.
The Bank shall not be directly liable or responsible
to the Beneficiary or any other person other than the
Applicant and all communications to the Bank in relation
to a Card or Transactions should be made only by the
Applicant. |
| 5 |
The Card will be active for use within one working day
of receipt of the clear funds towards amount deposited
by the Cardholder towards the Card in the Card Account.
In case of payments made via cheque the card will be
activated only after the cheque has been cleared. |
| 6 |
The Card may be used at the Bank’s ATM Network
for balance enquiry, mini statement, cash withdrawal
and PIN change and a Visa affiliated Merchant for Transactions
via a Merchant. |
| 7 |
The Card may be used for Transactions upto the then
Available Amount. |
| 8 |
The Card may be used by the Cardholder and no other
person. |
| 9 |
Upon a Transaction utilizing an amount, such amount
shall be reduced from the then Available Amount to arrive
at a new Available Amount post such Transaction. |
Merchant Location and Point of Sale Usage
| 1 |
Cash withdrawal or deposit is not allowed at Point of
Sale or Merchant locations. |
| 2 |
The Card will normally be honoured by the Merchants,
who display the Visa logo. |
| 3 |
Card promotional material or the Visa symbol displayed
on any premises is not a warranty that all goods and
services available at those premises can be purchased
with the Card. |
| 4 |
The Card is for electronic use only and will be acceptable
only at a Merchant having an EDC terminal. Any usage
of the Card other than electronic use will be considered
as unauthorized and the Cardholder shall be only responsible
for such transactions. Electronic usage is construed
as the charge slip/transaction slip printed electronically
from the EDC terminal. |
| 5 |
The Card will be honoured only when it carries the signature
of the Cardholder. |
| 6 |
Transactions are deemed authorized and completed once
the EDC terminal generates a Sales Slip. |
| 7 |
The Cardholder should ensure that the Card is used only
once for each purchase at Merchant ocation. The Sales
Slip will be printed each time the Card is used and
the Cardholder should ensure that there is no multiple
usage of the Card at the Merchant location at the time
of purchase. |
| 8 |
The Bank will not accept responsibility for any dealings
the Cardholder may have with the Merchant including
but not limited to the supply of goods and services.
Should the Cardholder have any complaints concerning
any Visa Electron Merchant Establishments, the matter
should be resolved by the Cardholder with the Merchant
Establishment and failure to do so will not relieve
the Cardholder from any obligations to the Bank. However,
the Cardholder should notify the Bank immediately. |
| 9 |
The Bank accepts no responsibility for any surcharge
levied by a Merchant and debited to the Card Account. |
| 10 |
The Cardholder must sign and retain the Sales Slip whenever
the Card is used at Merchant Establishment. The Bank
at an additional charge may furnish copies of the Sales
Slip. Any Sales Slip not personally signed by the Cardholder,
but which can be proved, as being authorized by the
Cardholder, will be the Cardholder’s liability. |
| 11 |
Any charge or other payment requisition received from
a Merchant by the Bank for payment shall be conclusive
proof that the charge recorded on such requisition was
properly incurred at he Merchant in the amount and by
the Cardholder referred to in that charge or other requisition,
as the case may be, by the use of the Card, except where
the Card has been lost, stolen or fraudulently misused,
the onus of proof for which shall be on the Cardholder. |
| 12 |
In case a Cardholder wishes to cancel a completed Transaction
due to an error or on account of merchandise return,
the earlier sales receipt must be cancelled by the Merchant
and a copy of the cancelled receipt must be retained
by the Cardholder in his possession. All Refunds and
Adjustments due to any Merchant/device error or communication
link must be processed manually and the account will
be credited after due verification and in accordance
with Visa rules and regulations as applicable. The Cardholder
agrees that any debits received during this time will
be honoured based only on the Available Balance on the
Card without considering this Refund. The Cardholder
also indemnifies the Bank from such acts of dishonouring
the payment instructions. |
| 13 |
The Card is not to be used at hotels during check-in
and also at locations where paying arrangements is done
before completion of the purchase transaction or service. |
| 14 |
The Card should not be used for any Mail Order/Phone
Order purchases and any such usage will be considered
as unauthorized and the Cardholder will be solely responsible. |
| 15 |
The Card should not be used for the payment of subscription
to foreign magazines/periodicals and any such usage
will be considered as unauthorized and the Cardholder
will be solely responsible. |
| 16 |
Use of Card at any ATM/EDC/POS other devices may entail
a service charge and/or Transaction fee and/or processing
fee being levied on the Card. |
| 17 |
All such charges will be deducted from the Available
Amount whether or not prior notice of such charges is
given to the Cardholder. |
| 18 |
The Cardholder is advised
to retain record of Transactions. |
Cardholders Obligations & Covenants
| 1 |
The Cardholder shall notify the Bank immediately in
case of change of his address. |
| 2 |
The Cardholder shall at all times ensure that the Card
is kept in a safe place. |
| 3 |
The Card is the property of the Bank and must be returned
to an authorized person of the Bank on request. The
Cardholder shall ensure that the identity of the authorized
person of the Bank is established before handing over
the Card. |
| 4 |
The Cardholder will be liable for all Transactions and
for the related charges. |
| 5 |
The Cardholder accepts that at his request and risk
the Bank has agreed to provide him the Card and accepts
full responsibility for all Transactions recorded by
use of his Card. |
| 6 |
An instruction given by means of the Card shall be irrevocable. |
| 7 |
The Cardholder shall, in all circumstances, accept full
responsibility for the use of the Card, whether or not
processed with his knowledge or his authority, expressed
or implied. |
| 8 |
The Cardholder irrevocably authorizes the Bank to debit
the amounts utilized by using the Card for Transactions
to his Card Account. |
| 9 |
The Cardholder should hold the Bank indemnified and
harmless for its action in good faith and in the normal
course of business based on Transactions. |
| 10 |
The Bank will employ its best effort in carrying out
the Transactions but will not incur any liability either
to the Cardholder or any other person for any reason
whatsoever including for its delay or inability to carry
out a Transaction or an instruction. |
| 11 |
The Cardholder agrees to bring all disputes about a
Transaction or entry in the Card Account to the notice
of the Bank within 7 days from the date of such Transaction
or entry, in absence of which all Transactions and Card
Account entries shall be construed as correct and accepted
by the Cardholder. |
| 12 |
The Cardholder shall return the Card to the Bank when
not required or expired or upon its retrieval after
being reported lost. |
| 13 |
The Card holder may use his Card to pay for purchases
at retail establishments which have agreed to accept
the Card and are equipped with a point of sale terminal
that can process Visa transactions, if the Card holder
has authorized that person to use his Card and the Card
holder will be responsible for any transactions initiated
by such persons with his Card. Upon any purchase via
point of sale device or other purchase transaction the
amount available on the Card will be reduced by the
amount of such purchase. |
| 14 |
The Applicant agrees to pay the Bank all such amounts
spent on the Card which exceeds the value paid by the
Cardholder on purchase through the Card such as restaurant
tips and other surcharges. |
| 15 |
The Applicant shall communicate and make aware the Beneficiary
of these Terms. However, the Applicant shall continue
to be liable to the Bank as per these Terms. |
Card Loss
| 1 |
If the Card is lost/stolen, the Cardholder must immediately
inform the Bank in person or by calling the Bank’s
Customer Care Centre. |
| 2 |
The Cardholder must file a report of Card loss with
the police and send a physical true copy thereof to
the Bank. |
| 3 |
The Bank upon receipt of information and verification
of Cardholder’s identity hot list the Card. |
| 4 |
The Cardholder will continue to be liable for all transaction
carried out on his Card till he reports the loss of
his Card to the Bank through the above prescribed modes.
The Cardholder however continues to be liable for charges,
if any, incurred post sending intimation by any other
mode apart from prescribed modes as above till the same
is actioned /hot-listed by the Bank. |
| 5 |
In case of loss of Card no replacement Card will be
issued but the Bank shall repay the Available Amount
less applicable charges to the Applicant. |
| 6 |
Any instruction received by the Bank for hot listing
of a Card cannot be revoked |
Unutilized Card Amount
| 1 |
The Bank will refund the Available Amount in the case
of Cards reported as lost or captured or at the time
of expiry of the Card basis a specific customer request
and will be refunded only to the Applicant who had purchased
the Card or his legal successors on such terms as the
Bank shall deem fit less the applicable charges. |
| 2 |
The Applicant shall submit the duly filled in Refund
Form to the Bank and the Bank shall refund the Available
Amount by Pay Order issued in favour of the Applicant
or funds transfer in case the Applicant is an existing
accountholder of the Bank after verifying the signature
of the Applicant and after deducting the Bank’s
charges for the same. |
| 3 |
The Bank shall process any application for refund only
after 10 days from date of reporting of loss/capture/hotlisting
or expiry of the Card. |
Reload
| 1 |
The Cardholder shall be entitled to reload the Card
by submitting the Prepaid Rupee Visa Debit Card Application
Cum Reload Form; however the reload facility can only
be availed before the expiry period of the Card, the
total amount available on the Card after reload should
not exceed the amount specified by the Bank from time
to time. |
| 2 |
The Cardholder shall pay the requisite reload fees as
prescribed by the Bank from time to time for providing
this reload facility. |
Fees & Charges
| 1 |
The initial issuance charges shall be payable upfront
to the Bank. |
| 2 |
The Bank reserves the right at any time to charge the
Cardholder any fees/charges to the transactions carried
out by you on the Card. Details of applicable fees and
charges can be obtained from the Bank and are subject
to change from time to time. |
| 3 |
Any government charges, or debts, or tax payable as
a result of the use of the Card shall be Cardholder’s
responsibility. |
| 4 |
The Cardholder authorizes the Bank to deduct from the
balance on his Card, and agrees to indemnify the Bank
against any expenses that the Bank may incur in collecting
money the Cardholder owes the Bank in connection with
his Card (including without limitation reasonable attorney’s
fees to the extent permitted by law). |
| 5 |
Amount due and payable by the Cardholder, if not paid
separately, be recovered by the Bank from the Available
Amount or to the debit of any other account with the
Bank of the Applicant. |
Change of facilities
| 1 |
The Bank may at its discretion make available the use
of a Card at more ATM’s, EDC, POS and/ or other
devices through shared networks. The Cardholder understands
and agrees that such networks may provide different
functionality, service offerings and different charges
for different services and/or locations. |
| 2 |
The Bank shall in its sole discretion at any time, without
notice to the Cardholder, be entitled to withdraw, discontinue,
cancel, suspend and/or terminate the facility to use
the Card and/or services related to it, at an ATM/other
devices and shall not be liable to the Cardholder for
any loss or damage suffered resulting in any way from
such suspension or termination. |
| 3 |
Maintenance: While advance notice of maintenance work
likely to affect the availability of services, shall
be given, the Bank reserves the right to suspend, without
any notice, access to ATM/other similar device or the
provision of all or any of the services, at any time,
if the Bank deems it necessary to do so, whether for
routine maintenance or technical snags/force measure
for any other reason. |
Printed Transaction Records, Balance information
Statement, Errors, Complaints
| 1 |
The Cardholder may opt for a printed record of Transaction
through an ATM and verify such record. |
| 2 |
The Cardholder must inform the Bank in writing within
7 days, if any irregularities or discrepancies exist
in the Transactions/particulars on the Card. If the
Bank does not receive any information to the contrary
within 7 days, the Bank may assume that the statement
and the Transactions are correct. |
| 3 |
All records maintained by the Bank, in electronic or
documentary form, of the instructions of the Cardholder
and such other details (including, but not limited to
payments made or received) pursuant to this agreement,
shall as against the Cardholder, will be deemed to be
conclusive evidence of such instructions and such other
details. |
| 4 |
The ATM machine may capture the Card, if responses sought
from the Cardholder by the machine are not provided
by the Cardholder within a specific time. In such an
event, the Card may be returned to the Cardholder at
the sole discretion of the Bank. |
Disclosure of Information
| 1 |
The Bank reserves the right to disclose to other institutions,
such information concerning the Card or the Cardholder
as may be necessary or appropriate in connection with
its participation in any Electronic Funds Transfer Network. |
| 2 |
The use of the Card at ATM/EDC-POS/other devices shall
constitute the Cardholder’s express consent.
|
To the collection, storage, communication and
processing of identifying and Card balance information
by any means necessary for the Bank to maintain
appropriate Transaction records. |
|
To release and transmission to participants and
processors ATM network/other network details of
the Cardholder’s account and Transaction
information and other data necessary to enable
the Card to be used at an ATM/other device. |
|
To the retention of such information and data
by the said participants and processors in the
Bank/other networks. |
|
To the compliance by the said participants and
processors in the Bank ATM network/other networks
with laws and regulation governing disclosure
of information to which such participants and
processors are subject. |
|
To the disclosure of information to third parties
about the Transactions where it is so necessary
for completing Transactions or when necessary
to comply with law or government agency or court
orders or legal proceedings or when necessary
to resolve errors or question the Cardholder has
raised or in order to satisfy the Bank’s
internal data processing requirements. |
|
| 3 |
The Cardholder hereby expressly authorizes the Bank
to disclose at any time and for any purpose, any information
whatsoever relating to his personal particulars, Card
transaction or dealings with the Bank, to the head office
or any other branches, subsidiaries or associated or
affiliated corporations of the Bank wherever located,
any government or regulatory agencies or authorities
in India or elsewhere, any agents or contractors which
have entered into an agreement to perform any service(s)
for the Bank’s benefit, and any other person(s)
whatsoever where the disclosure is required by law or
otherwise to whom the Bank deems fit to make such disclosure. |
| 4 |
The Cardholder agrees to provide the Bank information
that the Bank requires from the Cardholder by law or
regulation, or any other appropriate information that
the bank may reasonably request from time to time. |
Bank’s Rights
| 1 |
The Bank may at its sole discretion withdraw or suspend
the Card or amend any of its features without notice
to the Cardholder. |
| 2 |
The Bank shall have discretion not to carry out a Transaction
where it has reason to believe that the use of the Card
is not authorized or the Transaction appears not genuine
or unclear or such as to raise a doubt or it cannot
be put into effect for whatsoever reasons. |
| 3 |
The Bank may at its discretion, videotape or record
on camera the Cardholder’s access at ATM and rely
on footage of such clippings as evidence in any proceedings. |
| 4 |
Should any instruction given by the Cardholder be capable
of being executed by the Bank in more ways than one,
the Bank may execute the said instruction in any one
of the said ways, at its sole discretion. |
Cardholder disputes with Merchants
| 1 |
A sales slip with the Cardholder’s signature together
with the Card number noted thereon shall be conclusive
evidence as between the Bank and the Cardholder as to
the extent of liability incurred by the Cardholder. |
| 2 |
The Bank shall not be in any manner responsible for
the quality, value warranty, and delay in delivery,
non-delivery, non-receipt of any goods or services received
by the Cardholder. |
| 3 |
It must be distinctly understood that the Card facility
is purely a facility to the Cardholder to purchase goods
or avail of services and the Bank holds out no warranty
or makes no representation about quality, quantity,
value, delivery or otherwise, howsoever regarding the
goods or services ,and any dispute should be resolved
with the Merchant Establishment directly. However, the
Cardholder shall report to the Bank about the dispute
with the Merchant, detailing the name of locations,
date and time of the transaction and other details that
will assist the Bank in its investigations. |
| 4 |
The Bank shall make bonafide and reasonable efforts
to resolve an aggrieved Cardholder’s disagreement
with the applicable charge indicated in the statement
within two months of receipt of the notice of disagreement.
If after such effort, the Bank determines that the charge
indicated is correct then it shall communicate the same
to the Cardholder along with details including a copy
of the sales slip or payment requisition along with
charges if any. |
| 5 |
The Bank accepts no responsibility
for refusal by any establishment to honour the Card. |
Exclusion from Liability
| 1 |
Without prejudice to the foregoing the Bank shall be
under no liability whatsoever to the Cardholder in respect
of any loss or damage arising directly or indirectly
out of.
|
Any defect in goods or services supplied. |
|
The refusal of any person to honour or accept
the Card |
|
Any statement made by any person requesting the
return of the Card or any act performed by any
other person in conjunction. |
|
The exercise by the Bank of its right to demand
and procure the surrender of the Card prior to
the expiry date exposed on its face whether such
demand and surrender made and/or procured by the
Bank or any person or computer terminal. |
|
The exercise by the Bank of its right to terminate
any Card. |
|
Any injury to the
Credit character and/or reputation of the Cardholder
alleged to have been caused by the re-possession
of the Card and/or any request for its return or
the refusal of any Merchant Establishment to honour
or accept the Card. |
|
Any mis-statement,
mis-representation, error or omission in any details
disclosed to the Bank. Decline of transaction due
to any reason at a Merchant location ATM |
|
| 2 |
The Bank accepts no responsibility and will not be liable
for any loss or damage for any service failures or disruptions
(including but not limited to loss of data) attributable
to a system or equipment failure or due to reliance
by the Bank on third party, products or interdependencies
including but not limited to electricity or telecommunication. |
| 3 |
The Bank accepts no liability or responsibility for
the consequences arising out of the interruption of
its business by Acts of God, riots, civil commotions,
insurrections wars or any other causes beyond its control,
or by any strikes or lockouts. |
| 4 |
If an ATM or similar device malfunctions, resulting
in loss to the Cardholder of some or all amount of a
transaction, and such a loss is confirmed by the Bank
through a verification of the Bank’s records,
the Bank will correct that loss by making any adjustments
to the Card including any adjustments for service charges,
if any. |
| 5 |
The Bank shall not be responsible for any loss or damage
caused to the Card older by reason of any failure to
comply with the Cardholder’s instructions, when
such failure is caused due to reason beyond the control
of the Bank, the opinion of the Bank being final in
this regard. |
| 6 |
By applying for and availing the Card facility, the
Cardholder grants express authority to the Bank or carrying
out the Transactions performed by use of the Card. The
Bank shall have no obligationto verify the authenticity
of a transaction made other than by means of the PIN. |
| 7 |
The Bank shall under no circumstances be liable for
any claims for losses or damages whatsoever whether
direct, indirect, incidental, consequential and irrespective
of whether any claim is based on loss of revenue, investment,
production, goodwill, profit, interruption of business
or any other loss of any character or nature whatsoever
and whether sustained by the Cardholder or any other
person. |
| 8 |
The Bank shall not be liable for non-availability of
the funds credited to the Card due to restrictions on
convertibility or transferability, requisitions, involuntary
transfers acts of war or civil strife or other similar
causes beyond the Bank’s control, in which circumstance
no other branch, subsidiary or affiliate of the Bank
shall be responsible thereof. |
Ability to refuse payment
| 1 |
Except as otherwise required by law, if the Bank receives
any process, summons, order, injunction, execution,
distrait, levy, lien, information or notice which the
Bank in good faith believes calls into question the
Cardholder’s ability to transact on the Card the
Bank may, at its discretion and without liability to
the Cardholder or such other person decline to allow
the Cardholder to obtain any portion of his funds, or
the Bank may pay such funds over to an appropriate authority
and take any other steps required by applicable law. |
| 2 |
The Bank reserves the right to deduct from the Available
Amount on the Card a reasonable service charge and any
expenses the Bank incurs, including without limitation
reasonable legal fees, due to legal action involving
the Card. |
Termination of Card
| 1 |
In the event the Cardholder decides to terminate the
use of the Card, the Cardholder shall give the Bank
not less than 7 days prior notice in writing and forthwith
return the Card to the Bank after cutting the card into
4 pieces and obtain a valid receipt thereof. Such termination
shall also be deemed a termination of all facilities
accorded by the Bank to a Cardholder. |
| 2 |
In the event charges are incurred on the Card after
the Cardholder claims to have destroyed the Card, the
Cardholder shall be entirely liable for the charges
incurred on the Card whether or not the same are result
of misuse and whether or not the bank has been intimated
of the destruction of the Card. |
| 3 |
The Bank shall be entitled to discontinue this facility
at any time by canceling the Card with or without assigning
any reason whatsoever and by giving 7 days notice and
shall be deemed to have been received by the Cardholder
within 7 days of posting to the Applicants address in
India, last notified in writing to the Bank. |
Indemnity
The Applicant agrees to and shall indemnify and hold
the Bank and each of the employee agents, consultants contractors,
content providers or representatives of the Bank harmless
against all actions, claims, liabilities, demands, proceedings,
losses, damages, costs, charges and expenses including reasonable
attorneys’ fees and court / adjudicating body costs
whatsoever, which the Bank may at any time incur, sustain,
suffer or be put to as a consequence of or by reason of or
arising out of
| (i) |
breach of the Applicant’s representations and
warranties; |
| (ii) |
the improper use of the Card by the Cardholder or any
other person with/without the consent of the Applicant;
or |
| (iii) |
the breach by Cardholder or any other person with/without
the consent of the Applicant of any of the provisions
of these Terms or any other agreement with the Bank
by the Applicant or, |
| (iv) |
fraud or dishonesty relating
to any transaction by the Cardholder or his employees/agents |
| (v) |
by reason of the Bank in good faith taking or refusing
to take or omitting to take action on any instruction
given by the Cardholder due to acts or omissions of
the Cardholder, including but not limiting to : (a)
Failure to intimate/inform the Bank when he/it suspects
or knows that his/its Passwords are known to third parties
or when third parties use his/its Passwords for carrying
out unauthorized or illegal transactions; (b) Failure
to keep confidential and secure the PIN from third parties;
(c) Failure to inform the Bank regarding any changes
in his/its personal information; (d) Failure to comply
with the Law; (e) Failure to comply with the usage guidelines
issued by the Bank in respect of the Card as may be
applicable at the relevant time; (f) Failure to comply
with these Terms and any agreement between the Bank
and the Cardholder. |
Terms and Conditions and Changes
| 1 |
The Applicant shall be deemed to have unconditionally
agreed to and accepted these terms and conditions by
both signing the Card application form and acknowledging
the receipt the Card in writing. |
| 2 |
The Bank reserves the right to revise policies, features
and benefits offered on the Card and alter these Terms
and Conditions from time to time and may notify the
Cardholder of such alterations in any manner it thinks
appropriate. The Cardholder will be bound by such alterations
unless the Card is returned to the Bank for cancellation
before the date upon which any alteration is to have
effect. |
| 3 |
These Terms form a contract between the Cardholder and
the Bank. By accessing the service, the Cardholder accepts
these terms and conditions. |
| 4 |
The Bank could make changes including (but not limited
to) the purposes reasons listed below:
|
·
Impose or increase charges relating solely to
the use of the Card. |
|
·
Increase the Cardholder’s liability for
losses relating to transactions with his Card. |
|
| 5 |
The Bank may also make a change without notice if the
change is necessary to maintain or restore the security
of the electronic system or equipment used for the Card
transactions. The Cardholder would be notified within
30 days if such a change is made unless disclosure would
jeopardize the security of the electronic system or
equipment. |
| 6 |
Notification of these and any other changes may be given
by the Bank by posting it to the Applicants latest address
recorded with the Bank or displayed at the Bank’s
branch or on the website of the Bank.. The Cardholder
must notify the Bank of any change to his address promptly.
Proof of posting to such last notified address shall
be conclusive proof of the notification at the time
when it ought to be delivered in due course by the post
even if the notification may be returned through the
post undelivered. |
Governing Law &
Jurisdiction
These Terms/Transactions/Services and obligations
of the Bank shall be governed by and be subject to Indian
law and guidelines as may be issued by the RBI from time to
time. The courts in Mumbai shall have the exclusive jurisdiction
as regards any claims or matters arising out of the use of
the Card.
Compliance with law
The Cardholder must be either by himself or through
legally authorized representative eligible and capable by
law to avail of the Card. The Bank shall not be liable to
the Cardholder or any third party for any loss or damage suffered
due to the ineligibility or incapacity of the Cardholder.
The Cardholder agrees that he is aware of and shall comply
with any law that may be applicable to any of the transactions
he carries out, through the Card. The Bank shall not be responsible
or liable to any third party for the Cardholder’s violation
of any law. |
