|
TERMS
1.
Definitions:
In this document the following words and phrases have the meaning set opposite
them unless the context indicates otherwise:
Bank refers to Bank of
E-Banking is the Bank’s
Internet Service, offering the various facilities to the Retail User such as
User refers to any
individual user availing Internet banking facility of the Bank and such user is
identified as a Retail User.
Account refers to the
User’s Savings and / or Current Account and / or Time Deposit and / or Cash
Credit, Overdraft, Loan Account and / or any other type of account as available
in the Bank to be covered under the E-Banking facility.
Terms refer to terms
and conditions for use of E-Banking as detailed in this document.
2.
Applicability of terms:
These Terms form the contract
between the User and the Bank. By applying for access to E-Banking and utilizing the various
services so offered, the User acknowledges and accepts these Terms. These Terms will be in addition and not in derogation of the terms and
conditions relating to any Account of
the User.
3.
a) Application for e-banking:
The Bank may extend E-Banking
facility to selected customers at its discretion. The User must be a
current legal Internet user. The application form for E-Banking may
either be downloaded and printed from the Bank’s
website or the same can be received from any branch of the Bank. The said form is to be filled up and duly signed
by the User and submitted either to
the branch of the Bank. Upon receipt of request in the bank’s
prescribed application form for internet banking and subject to the
satisfaction of the eligibility criteria laid down by the Bank from time to time, internet banking access shall be provided
to the User by the Bank. The User shall not attempt or permit others to attempt accessing the
account information stored in the bank’s computers through any means other than
E-Banking. The User shall not
attempt or permit others to attempt accessing the account information stored in
the bank’s computers which does not relate to the User’s Account or for
illegal or improper purposes which, if done and proved to be so, will be liable
for action under the appropriate law and withdrawal of the E-Banking facility.
b)
Instructions:
The Bank shall provide all
instructions for operating the E-Banking facility to the User. The User is also responsible for the accuracy and authenticity of the
instructions so provided to the Bank and
the same shall be considered to be sufficient to operate the internet banking
facility. The Bank shall not be
required to independently verify the instructions and the instruction once
given is effective unless countermanded by further instructions. The Bank shall have no liability if it
does not or is unable to stop or prevent the implementation of the initial
instructions. Where the Bank considers
the instructions to be inconsistent or contradictory, it may seek clarification
from the User or may act upon such
instructions as it may think fit at its sole discretion.
4.
Software:
The Bank will advise from time to
time the Internet software (such as Browsers) which are required for using E-Banking.
There will be no obligation on the Bank to support all the versions of
this Internet software. The User
shall upgrade his software, hardware and the operating systems at his own cost
from time to time and the Bank shall
be under no obligation to support the software, hardware, or operating systems
of the User and the same shall be
the sole responsibility of the User.
5.
Joint
E-banking facility can be availed by the
following persons for a Retail User:
1) Individuals
2) Joint account holders with operating instructions as Self, Either or
survivor,
Anyone or survivors or
survivor clause
A User who wishes to use the E-Banking
facility must authorise a single signatory to act independently to operate the E-Banking
Account notwithstanding the fact
that the joint accounts are operated on Either or Survivor / Anyone or
Survivors or survivor. The said E-Banking User must submit the Bank’s prescribed
authority form duly signed by all accountholders who, in the normal course, must
operate the
All
transactions arising from the use of E-Bankingin the above Account shall be
binding on the account holders jointly and severally. The Bank, in no way, shall be liable for any loss / damages whatsoever
that may be incurred or alleged to be incurred by the said account holders in
such an event.
6.
In case of
7.
Security:
The Bank shall take adequate and
reasonable care to ensure the security of and prevent unauthorised access to
the E-Banking service using 128 bit Secured Socket Layer which is
the highest level of security available for the internet banking
services.
8.
Password:
The User accepts and unconditionally
agrees to the following:-
i) Upon approval of the account holder’s application, the customer will be
allotted a User ID and password to access the E-Banking facility.
ii) The User ID and password will be mailed separately by the Bank to the mailing address in terms of
the option exercised by the customer in the Application Form.
iii) The password so mailed will not be disclosed to anyone, including the Bank staff. In the event of the mails
containing User ID and password reaches the customer in a tampered or damaged
condition, the User must contact the
Bank immediately.
iv) On accessing E-Banking for the first time, the User must compulsorily change the password assigned by the Bank through the relevant option. The User
is at liberty to change the password as many times as possible at his or her
own risk. The User will be solely
responsible for maintaining secrecy of the password so changed, and the Bank shall in no way be responsible for
the misuse of the said password by any person other than the authorised User.
v) The Bank does not assume any
responsibility in this behalf including against loss incurred by the User as a result of the misuse or
unauthorised use of any User ID / password.
vi) If the User forgets the
password, a new password may be obtained from the Bank against a written request in the prescribed Bank’s format available on Internet or
from the Bank’s branch. Such
replacements shall not be deemed as the commencement of new contract. In such
an event the Bank shall provide the
new password within a reasonable period of time. However, till such time the Bank will not effect any E-Banking transactions initiated by the
User.
9.
Charges:
The Bank reserves the right to
charge and recover from the User a
fee (if such fee is fixed at the time of the provision of the services) for
providing any service under E-Banking facility. The User hereby authorises the Bank to recover the service charges by debiting one of the
10. Mailing Address:
All correspondence or delivery of any instructions by the Bank or their communication shall only be made at the normal postal
address or e-mail address as registered with the Bank. The Bank shall in no way
be held responsible for non-receipt of the same.
11.Cheque
Book Issue:
The User can request for issuance of
a chequebook and the same will be mailed by the Bank to the address given in
the Request. The courier charges will be borne by the customer.
12. Demand Draft / Bank Cheque
Request:
The User can request a Demand Draft /
Bank Cheque and opt for mailing the same to the communication address of the
customer or delivered to the beneficiary’s address as given in request. The
courier/postage charges, exchange on DD and commission on Bank Cheque will be
borne by the customer.
13. Transaction Processing:
All the Fund Transfers will be effected instantaneously in the Account after invoking Instant Funds
Transfer.
All
the Scheduled Funds Transfer will be carried out on the scheduled dates subject
to availability of clear balance in the Account.
In
case Funds Transfers scheduled for effecting any transactions are received on the
weekend, holiday, public holidays, or other non-working day, they shall be
effected on the immediately succeeding working day.
The
User shall not hold the Bank responsible for not processing or effecting
any transactions if the Bank has not
received instructions to this effect, even if the customer has forwarded the
same.
14. Funds Transfer:
The User shall not use or attempt to
use E-Banking for funds transfer without sufficient funds in his Account or without a pre-existing
arrangement with the Bank by way of
Cash Credit or overdraft. The Bank
will endeavour to effect such funds transfer transactions received through E-Banking
provided there are sufficient funds available in the User’s Account.
The
Bank shall not be liable for any
omission to make funds transfer (s) due to circumstances beyond the reasonable
control of the Bank.
15. Bill Payments :
The User shall maintain sufficient
balance in his Account for payment
of bills on the scheduled date. The Bank
shall not be liable for non-payment due to insufficient balance or
circumstances beyond the reasonable control of the Bank, including technical problems of connectivity, computer
breakdown, non-availability of communication links, etc.
The
Bank shall in no way be responsible
for the non-payment of the User's
bills within the time stipulated and the User
alone shall be bound to pay or discharge interest, penalty or any such charges.
Further, the Bank shall not be
called upon to indemnify the User.
All disputes such as excess billing, disconnection of service or facility,
wrong credit or debit, shall be resolved by the User only, and the Bank
shall in no way be responsible for the same.
16. Authority to the Bank:
E-banking transactions in the User’s Account(s) are permitted only after authentication of the User Id
and transaction Password of the User. The User grants express
authority to the Bank for carrying
out the banking transactions performed by him through E-Banking. The Bank shall have no obligation to verify
the authenticity of any transaction received from the User through E-Banking or purporting to have been sent by the User via e-banking other than by means of verification of the User-Id and the transaction
password.
Illegal
or improper use of the E-Banking facility
shall render the User liable for
payment of financial charges as decided by the Bank or will result in the suspension of the operations through E-Banking.
The
display or printed output that is produced by the User at the time of
operation of E-Banking is a record of the operation of the Internet
transactions.
17. Accuracy of Information:
The User is responsible for the correctness of information provided to
the Bank through the use of E-Banking
or through any other means such as electronic mail or written communication.
The Bank accepts no liability for
the consequence arising out of erroneous information provided by the User. The User shall at periodic intervals check the correctness of the
statement and shall inform the Bank about any discrepancies that may occur. However, the Bank does not accept any liability for any such discrepancies.
All
outputs of statements are duplicate statements of account and will be prepared
by electronic means and the information contained therein will be extracted
from a computerised back-up system maintained by the Bank. While the Bank will
take all reasonable steps to ensure the accuracy of the statement, the Bank is not liable for any error. The User
shall hold the bank harmless against any loss, damages, etc. that may be
incurred or suffered by the User if the information contained in the
above said outputs turns out to be inaccurate or incorrect.
18. Liability of the User:
The User alone shall be liable for
any loss from unauthorised transactions in the E-Banking
Keeping
a written or electronic record of E-Banking password.
Disclosing
or failing to take all reasonable steps to prevent disclosure of the E-Banking
password to anyone including any minor, Bank staff and/or failing to advise the
Bank of such disclosure within
reasonable time.
Not
advising the Bank in a reasonable
time about unauthorized access to or erroneous transactions in the E-Banking
The
Bank shall in no circumstances be
held liable by the User if E-Banking
access is not available for reasons including but not limited to natural
calamity, floods, fire and other natural disasters of any kind, legal
restraints, faults in the telecommunication network or Internet or network
failure, power breakdown or
19. Indemnity:
The User shall indemnify and hold
the Bank harmless against all
actions, claims, demands, proceedings, losses, damages, costs, charges and
expenses whatsoever which the Bank
may at any time incur, sustain, suffer or be put to as a consequence of or by
reason of arising out of providing E-Banking facility or by reason of
the Bank in good faith taking or
refusing to take or omitting to take action on any instruction given by the User.
20.
Disclosure of Personal Information:
The User agrees that the Bank may hold and process his Personal
Information on computer or otherwise in connection with E-Banking
services as well as for statistical analysis and credit scoring. The User also agrees that the Bank may disclose, in strict
confidence, to other institutions, such Personal Information as may be
reasonably necessary for reasons inclusive of, but not limited to, the
following:
· participation in any
telecommunication or electronic clearing network
· compliance with a legal directive
· credit rating by recognized credit
rating / scoring agencies
· fraud prevention purposes.
The
User agrees that the above
disclosures do not constitute a breach of Privacy Principles under the Privacy
Act 1993 by the Bank.
21. Bank’s Lien:
The Bank shall have the right of
set-off and lien, irrespective of any other lien or charge, present as well as
future on the deposits held in the User’s
22. Proprietory Rights:
The User acknowledges that the software underlying the E-Banking
service as well as other Internet related software which are required for
accessing E-Banking are the legal property of the respective vendors.
The permission given by the Bank to access E-Banking will not convey or
confer any proprietory or ownership rights in the above software. The User shall in no way try to alter,
tamper with or experiment with the said program. Any breach on the part of the User will be dealt under the
appropriate law and the User shall
be liable for damages that may be incurred by the Bank.
The
User shall not attempt to modify,
translate, disassemble, decompile or reverse engineer the software underlying E-Banking or create any derivative
product based on the software.
23. Change of Terms and Conditions:
The Bank has the absolute discretion
to amend or supplement any of the Terms
at any time without prior notice to each Userabout the same. The changes so made will be available on the website of the
bank which the customers are requested to refer to from time to time. Proposed
and existing Users to the services
are advised to confirm themselves about the terms and conditions contained
therein to take note of any changes, modifications and/or amendments which may
be made to the scheme from time to time by the Bank. The bank may introduce new services within E-Banking
from time to time. The existence and availability of the new functions will be
displayed on the bank’s website along with the revised/changed terms and
conditions applicable to such other E-Banking services. By using the
services, it is deemed that the User agrees to be bound by the terms and conditions applicable.
24. Non-Transferability:
The grant of facility of E-Banking to a User is not transferable
under any circumstance and shall be used only by the User who will be
responsible for all the consequences thereof.
25. Cancellation or Termination of e-banking:
The User may request for cancellation of the E-Banking facility
any time by giving a reasonable notice to the Bank. The User will remain responsible for any transactions
made in his
26. Notices:
The Bank and the User may
give notices under these Terms and Conditions:
·
Electronically to the mailbox of either party. Such notices will be
regarded as being in writing.
·
In writing by delivering them by hand or by sending them by post to the
last address given by the User
In
addition, the Bank may also publish
notices of general nature, which are applicable to all Users of E-Banking
on its web site. Such notices will have the same effect as a notice served
individually to each User and or that of a notice published in a
newspaper of print media.
27. Governing Law:
The terms and conditions and/or the operations in the
Any dispute or difference arising between the User and the Bank shall
be settled by mutual good faith consultation and discussion, failing which, the
same shall be referred to Arbitration. The Arbitration proceedings shall be
governed and conducted in accordance with the Arbitration Act 1996 and such
Arbitration proceedings shall take place in
The
Bank accepts no liability
whatsoever, direct or indirect, for non-compliance or breach of the laws of any
country other than
28. General:
The clause headings in this agreement are only for convenience and do not
effect the meaning of the relative clause. The User shall not assign
this agreement to anybody else.
-O-O-O-O-O-O-O-