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Terms and Conditions for netc@rd
provided by KOTAK MAHINDRA Bank Limited
Please read these Terms of Service (TOS) carefully
before using netc@rd. The words, "Bank", "We"
and "Us" refers to KOTAK MAHINDRA Bank Limited,
a banking company incorporated under the Companies Act,
1956 and having its registered office at 36-38A, Nariman
Bhavan, 227, Nariman Point, Mumbai 400 013 India. The word
“Account(s)" shall mean account of the customer
with Kotak Mahindra Bank from which netc@rd shall be created.
The terms / words not defined herein shall have the same
meanings as defined in the Terms & conditions applicable
to the Account(s) agreed upon by the customer at the time
of Net banking access. The words "we", "us"
and "our" refer to Visa and the Bank as the case
may be, and "you", "your" or "yours"
refer to the account holders using netc@rd.
These TOS supplements and is in addition to the Terms and
Conditions applicable to the Account(s).
PRODUCT DEFINITION:
netc@rd is a unique online secure payment solution, created
through a direct debit to the customers account, provided
by the Bank.
The key features of netc@rd are as follows:
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It's a single use card with a limited validity period
from time of creation. |
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The actual debit card number is not used on the merchant
website. |
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netc@rd can be used at any merchant’s website
that accepts Visa Cards. |
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The exposure is limited only to the extent of the
card value of netc@rd card created and subject to
a limited defined validity. |
netc@rd offers a unique security feature, wherein the
actual card number is not revealed on the Internet. Instead,
you will have the option of generating a virtual (netc@rd)
card number/s, drawing funds from your account. You can
then use this virtual card number at any online merchant
site and complete your transaction with security and ease.
| 1. ACCEPTANCE
OF TERMS |
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| a. |
netc@rd is subject to the TOS and the Terms
and Conditions applicable to the Account(s). The
TOS may be revised from time to time without notice
to you. Use of the service for generating netc@rd
constitutes your acceptance of the terms and you
agree to abide by it.
You can review the most current version of the
TOS at any time at www.kotak.com.
In addition, when using netc@rd, you shall be
subject to any guidelines or rules applicable
to netc@rd that may be posted from time to time
at the same web site. |
| b. |
You agree that continued use of netc@rd after
revisions to this TOS shall constitute your agreement
to such revised terms and any applicable posted
guidelines or rules. |
| c. |
Unless explicitly stated otherwise, any new features
that augment, enhance or otherwise change netc@rd
shall be subject to these TOS. |
| d. |
The Bank reserves the right at any time and from
time to time to modify, recreate, suspend or discontinue,
temporarily or permanently netc@rd (or any part
thereof) with or without notice. |
| e. |
The Bank shall not be responsible for interception/
misuse of netc@rd. Therefore creation and usage
of the card will be tantamount to creation and
usage of netc@rd card by you. The Bank is not
liable if netc@rd falls into wrong hands due
to any reason whatsoever and/or if the terms and
conditions relating to use of net banking user
id and password are not complied with. |
| f. |
This functionality is available to only those
customers who have signed up for net-banking channel
access and have independent operating rights to
at least one account. |
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| 2. YOUR REGISTRATION
OBLIGATIONS |
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You
agree to (i) provide true, accurate, current and complete
information about yourself as prompted by netc@rd
registration form ("Registration Data"), and
(ii) maintain and promptly update the Registration Data
to keep it true, accurate, current and complete. If
you provide any Registration Data that is untrue, inaccurate,
not current or incomplete, or if we have reasonable
grounds to suspect that your Registration Data is untrue,
inaccurate, not current or incomplete, we have the right
to suspend, terminate, or refuse your current or future
use of netc@rd. |
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| 3. REGISTRATION
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| a. |
In order to generate or use netc@rd, you must
provide certain information as may be required
to the Bank to validate your identity and verify
that you are the owner of / an authorized user
of the specified Account(s). The information that
you provide may be validated against information
that is associated with you and available with
the Bank. |
| b. |
If you are unable to provide adequate information
to validate your identity, we have the right to
not allow you to register for netc@rd. You warrant
that the Registration Data is correct and that
you have the legal right to use all of the accounts
that you use for creating netc@rd. |
| c. |
In order to use netc@rd, you must have the ability
to access the World Wide Web and must pay any
service fees associated with such access. In addition,
you must have the equipment necessary to make
such a connection to the World Wide Web, including
a computer and modem or other access device. |
| d. |
In the event you have a question regarding netc@rd
registration process or a transaction using netc@rd,
you can contact the Customer Call centre or email
us at: netbanking@kotak.com |
| e. |
The bank may at any time incorporate additional
security features such as Verified by Visa etc
to further facilitate shopping on the Internet.
Requisition for netc@rd and acceptance of this
TOS signifies acceptance of such further TOS that
may be required for Verified by Visa. |
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| 4. CARDHOLDER
PASSWORD AND SECURITY |
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You
are solely responsible for maintaining the confidentiality
of your username, password, Registration Data and other
verification information established by you with respect
to netc@rd. You agree to immediately notify us of
any unauthorized use of your password or other verification
information, or any other breach of security. You acknowledge
and agree that, except as otherwise provided by Applicable
Law or in the Terms & Conditions applicable to the
Account(s), we shall not be liable for any loss or damage
arising from your failure to comply with this TOS. |
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| 5. PRIVACY
OF REGISTRATION DATA |
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Your
Registration Data will not be shared with online retail
merchants or merchants in other transactions for which
netc@rd are used.
You acknowledge and agree that the bank may keep your
Registration Data and also may disclose your Registration
Data if required to do so by Applicable Law, in the
good faith belief that such preservation or disclosure
is permitted by Applicable Law, or as reasonably necessary
to (i) comply with legal process or (ii) enforce this
TOS. |
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| 6. LIABILITY |
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| a. |
Under no circumstances will the Bank be liable
for consequential, incidental, special or indirect
losses or other damages, such as any damage to
your computer or telephone service resulting from
your use/generation of netc@rd. |
| b. |
We assume no responsibility for and will not be
liable for any damages to, or any viruses which
may affect your computer equipment or other property
on account of your access to, use of, or downloading
from this web site. |
| c. |
The Bank shall not be liable if a transaction
on the net does not materialize or is delayed
or is incomplete through due to any whatever reasons
whatsoever. |
| d. |
Kotak Mahindra Bank does not guarantee the quality
or the serviceability of the goods / services
bought online for which payment is made using
Kotak Mahindra Bank netc@rd. |
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| 7. DEALINGS
WITH MERCHANTS |
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Your
correspondence or business dealings with, or participation
in promotions of, online retail or other merchants on
or through netc@rd, including payment and delivery
of related goods or services, and any other terms, conditions,
warranties or representations associated with such dealings,
are solely between you and such merchant. You agree
that, except as otherwise provided by Applicable Law
or in Terms and Conditions applicable to the Account
with you, we will not be responsible or liable for any
loss or damage of any sort incurred as the result of
any such dealings. You understand that use of netc@rd
does not, in any way, indicate that we recommend or
endorse any merchant, regardless of whether the merchant
participates in a transaction by honouring netc@rd.
For example, netc@rd does not verify the identity
of the merchant or the quality of the merchant's goods
or services. |
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| 8. DISCLAIMER
OF WARRANTIES |
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| a. |
You expressly understand and agree that any software
obtained through the use of netc@rd is downloaded
and used at your own discretion and risk and that
except as otherwise provided in this TOS Agreement,
you will be solely responsible for any damage
to your computer system or loss of data that results
from the download or use of any such software
or other materials through Verified by Visa and
similar such verifications. |
EXCEPT AS OTHERWISE REQUIRED BY ANY APPLICABLE STATE
LAW, WE MAKE NO REPRESENTATIONS OR WARRANTIES ABOUT
netc@rd OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING
ANY WARRANTIES AS TO MERCHANTABILITY OR FITNESS FOR
A PARTICULAR PURPOSE.
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| 9. NOTICE |
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You
may also be notified of changes to this TOS or other
matters by notices displayed on or links to notices
displayed on http://www.Kotak.com/ |
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| 10. AGE AND
RESPONSIBILITY |
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Except as otherwise provided by Applicable Law or
in Terms and Conditions applicable to the Account,
you understand that you are financially responsible
for all uses of netc@rd by you and those authorized
by you to use your Registration Data, your password
or other verification information.
10(B) Authentication : Certain websites
/ the Bank at a later date may provide for any additional
authentication in addition to what has been requested
for . You agree to validate such requirements at a
future date.
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| 11. MISCELLANEOUS |
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(a) Password
You agree and acknowledge to:
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Keep the password totally confidential and not
reveal the password to any third party. |
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Choose a password which shall be sufficiently
long and shall consist of a mix of alphabets numbers
and special characters which must not relate to
any readily accessible personal data such as my
name, address, telephone number, driver license,
etc. or easily guessable combination of letters
and numbers. |
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Commit the password to memory and not record them
in a written or electronic form, and |
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Not let any unauthorized person to have access
to your computer or leave the computer unattended
while accessing the Net for making/using netc@rd.
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In case the password is forgotten, to request
for change of the password or change the same
yourself. |
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Such replacement shall not be construed / deemed
as the commencement of a new contract. |
The Bank shall not be responsible for interception/ misuse
of netc@rd
(b) Misuses of Password:
You acknowledge that if any third person obtains
access to your password, such third person would be
able to carry out transactions via netc@rd or make
and use netc@rd. You shall ensure that the terms and
conditions applicable to the use of the password as
contained in the TOS are complied with at all times.
(c) Internet Frauds:
The Internet per se is susceptible to a number
of frauds, misuses, hacking, phishing and other actions
which could affect making/use of netc@rd. Whilst the
Bank shall aim to provide security to prevent the same,
there cannot be any guarantee from such Internet frauds,
hacking and other actions which could affect the making
and use of netc@rd. You shall separately evolve/evaluate
all risks arising out of the same.
(d) Technology Risks:
The technology for netc@rd offered by the
Bank could be affected by virus or other malicious,
destructive or corrupting code, program of macro. It
may also be possible that the site of the Bank may require
maintenance and during such time it may not be possible
to process the request of the Customers. This could
result in delays in the processing of Instruction or
failure in the processing of instructions and other
such failures and inability. You understand and acknowledge
that the bank disclaims all and any liability, whether
direct or indirect, whether arising out of loss of profit
or otherwise arising out of any failure or inability
by the Bank to honor any customer instruction for whatsoever
reason.
(e) Limits:
You are aware that the Bank may from time
to time impose maximum and minimum funding and card-creation
limits on netc@rd. You realize, accept and agree that
the same is to reduce the risks on you. For instance,
the Bank may impose transaction restrictions within
particular periods or amount restrictions within a particular
period or even limits on each transaction or limits
on the total number of netc@rd that can be created
during a particular interval. You shall be bound by
such limits imposed and shall strictly comply with them.
(f) Indemnity:
You shall indemnify the Bank for and against
all losses and damages that may be caused as a consequence
of breach of any of netc@rd Terms and conditions and
the terms and conditions mentioned herein above under.
(g) Withdrawal of Facility:
The bank shall be entitled to withdraw the
above service at any time whatsoever.
(h) Charges:
You hereby agree to bear the charges as may
be stipulated by the Bank from time to time for availing
of these services.
You hereby authorize the Bank to recover all charges
related to netc@rd as determined by the Bank from
time to time by debiting your account(s).
(i) Others:
Credit of unutilized amount:
In case of unutilized amount in netc@rd card, it will
be credited back to the customer’s source account
post the expiry of the validity period of the netc@rd
as follows:
In case netc@rd card is
cancelled the amount will be credited back to the customers
source account, if it is completely unutilized, within
with in 2 Mumbai working days from the day on which
the card has been cancelled.
In case the customer has used part
amount for a transaction, the balance will get credited
back to the customer's account approximately within
35 days from the date of transaction if the same is
not claimed by Visa/Merchant establishment.
Cancellation will not be allowed if
the card has be partly been used. Refund will be basis
the current date and not on the value date. Though on
card the expiry date will be 3 months but it will be
valid for 24-48 hours only.
Additional Debit to customer’s
account:
In case the amount of settlement request sent by VISA
exceeds netc@rd card funding amount, the excess amount
over and above netc@rd funding amount will be debited
from the customer’s account |
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| 12.CONDUCT
GUIDELINES: |
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You agree not to:
| 1. |
Impersonate any person or entity using netc@rd
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| 2. |
Upload, post, email or otherwise transmit any
material that contains software viruses or any
other computer code, files or programs designed
to interrupt, destroy or limit the functionality
of any computer software or hardware or telecommunications
equipment used by netc@rd |
| 3. |
Spam or flood netc@rd Website or service; |
| 4. |
Modify, adapt, sub-license, translate, sell, reverse
engineer, decompile or disassemble any portion
of netc@rd Website or service or the software
used in connection with netc@rd/ Verified By
Visa; |
| 5. |
Remove any copyright, trademark, or other proprietary
rights notices contained in netc@rd/ Verified
By Visa; |
| 6. |
"frame"
or "mirror" any part of netc@rd site
or service without KOTAK MAHINDRA Bank’s/
Visa's prior written authorization; |
| 7. |
Use any robot, spider, site search/retrieval application,
or other manual or automatic device or process
to retrieve, index, "data mine," or
in any way reproduce or circumvent the navigational
structure or presentation of netc@rd Website
or service or its contents; |
| 8. |
otherwise interfere with, or disrupt, netc@rd
or servers or networks connected to netc@rd,
or violate this TOS or any requirements, procedures,
policies or regulations of netc@rd / Verified
By Visa or of any networks connected to netc@rd;
or |
| 9. |
intentionally or unintentionally violate any applicable
local, state, national or international statute,
regulation, regulatory guideline or judicial or
administrative interpretation, or any rule or
requirement established by KOTAK MAHINDRA Bank/Visa
(all of which shall constitute "Applicable
Law") in connection with your use of netc@rd.
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The user understands and agrees that the
Bank may offer this service directly or through any other
partner agency. |
