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| Hindi Version
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| Terms and Conditions |
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| This document lays out the Terms and Conditions
which shall be applicable to all the accounts which are
existing or may be opened anytime in future with HDFC Bank.
The words, I, me, my and Customer refer to the person(s) who
open the account and shall include both singular and plural.
Reference to masculine shall include the feminine and neuter
gender. The Bank refers to HDFC Bank Ltd., a banking company
incorporated in India under the Companies Act 1956 and having
its registered office at HDFC Bank House, Senapati Bapat Marg,
Lower Parel, Mumbai-400013. |
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1. GENERAL - APPLICABLE TO ALL
SERVICES | |
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| 1.1 |
I agree to abide by the Bank's
Terms and Conditions and rules in force and the changes
thereto in Terms and Conditions from time to time
relating to my account as communicated and made
available on the Bank's website. |
| 1.2 |
I agree that the opening and
maintenance of the account is subject to rules and
regulations introduced or amended from time to time by
the Reserve Bank of India. |
| 1.3 |
I agree that the Bank may,
at its discretion, engage the services of Business
Facilitators (hereinafter referred to as "BF")
and Business Correspondents (hereinafter referred
to as "BC") for extension of banking
and financial services so as to ensure greater
financial inclusion and increasing the outreach
of the banking sector. The Bank, however, shall
be responsible for the acts and omission of such
BC and BF. |
| 1.4 |
I agree that the Bank will be
at liberty to close my account at any time by giving me
at least 30 days notice under normal
circumstances. |
| 1.5 |
I agree that the Bank can at
its sole discretion, amend any of the
services/facilities given in my account either wholly or
partially at any time by giving me at least 30 days
notice and/or provide an option to me to switch to other
services/facilities. |
| 1.6 |
I agree that any change in my
account status or change of address will be immediately
informed to the Bank failing which I shall be
responsible for any non-receipt of
communication/deliverables or the same being delivered
at my old address. |
| 1.7 |
I agree that all instructions
relating to my account will be issued to the Bank as per
acceptable mode of communication to the Bank. |
| 1.8 |
I agree to preserve my cheque
book/ATM Card carefully. In case of loss/theft of the
same I shall immediately inform the Bank in
writing. |
| 1.9 |
I agree that I will maintain
the minimum balance in my account as prescribed by the
Bank from time to time. |
| 1.10 |
I agree that I shall be liable
to pay all charges, fees, interest, costs wherever
applicable, which the Bank may levy with respect to my
account or any transaction or services rendered and the
same may be recovered by the Bank by a debit to my
account. I agree and acknowledge that in case of
non-availability of adequate funds the charges will be
debited to the account over a period of time till the
entire amount is recovered. |
| 1.11 |
I agree that I shall not pay
any amount in cash to any Sales Representative of the
Bank at the time of opening an account or carrying out
any transaction in the normal course of the business. I
agree to deposit cash only at the Bank's teller counters
at the branch premises. |
| 1.12 |
I agree to execute necessary
writings in the form and manner as may be required by
the Bank in order to execute my Fax instructions to the
Bank. |
| 1.13 |
I agree that the Bank will send
me communications/letters etc. through
courier/messenger/mail or through any other mode at its
discretion and the Bank shall not be liable for any
delay arising there from. |
| 1.14 |
I agree and acknowledge that in
the absence of my specific instructions to personally
collect from the Branch, the cheque books, PhoneBanking
TINs, NetBanking IPINs, Debit/ATM Cards & PINs will
be despatched by courier/messenger/mail or through any
other mode by the Bank at its discretion to the address
notified by me for correspondence. |
| 1.15 |
I agree that the Bank will,
unless requested by me in writing to the contrary, issue
cheque book on the opening of my account. Further issue
of cheque books will be only against written requisition
by me or through ATM, PhoneBanking or NetBanking. |
| 1.16 |
I agree that an account may be
opened on behalf of a Minor by his natural guardian or
by a guardian appointed by a court of Competent
Jurisdiction. The guardian shall represent the Minor in
all transactions of any description in the above account
until the said Minor attains majority. Upon the Minor
attaining majority, the right of the guardian to operate
the account shall cease. The guardian agrees to
indemnify the Bank against the claim of above Minor for
any withdrawal/transactions made by him in the Minor's
account. |
| 1.17 |
I agree and undertake to ensure
that there would be sufficient funds/cleared
balance/pre-arranged credit facilities in my account for
effecting transactions. I agree that the Bank shall not
be liable for any consequences arising out of
non-compliance by the Bank of my instructions due to
inadequacy of funds and the Bank can at its sole
discretion decide to carry out the instructions not
withstanding the inadequacy of funds without prior
approval from or notice to me and I shall be liable to
repay with interest the resulting advance, overdraft or
credit thereby created and all related charges arising
thereby at prime lending rate applicable from time to
time. |
| 1.18 |
I agree that in the event of an
account being overdrawn, the Bank reserves the right to
set off this amount against any credit lying in any of
my accounts. |
| 1.19 |
I agree that the transactions conducted
by me at the BC counters shall be reflected in
the bank’s books latest by the next working
day. |
| 1.20 |
I agree that the Bank shall not
be liable for any damages, losses (direct or indirect)
whatsoever, due to disruption or non availability of any
of services/facilities due to technical fault/error or
any failure in telecommunication network or any error in
any software or hardware systems beyond the control of
the Bank. |
| 1.21 |
I agree that the Bank may
disclose, in strict confidence, to other institutions,
such Personal Information as may be reasonably necessary
for reasons inclusive of:
- For participation in any telecommunication or
electronic clearing network
- In compliance with a legal directive
- For credit rating by recognized credit rating
agencies
- For fraud prevention purposes
- To credit information bureaus.
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| 1.22 |
I give consent to the Bank
to disclose information provided in the account opening
form for the purpose of cross selling by HBL Global Ltd
and any other marketing agent/s and/or contractors with
whom the Bank enters, or has entered into any
arrangement, in connection with providing of
services/products, including without limitation, cross
selling of various financial products. The Bank will
have to always check before any cross-sell attempt
whether or not I have registered for �Do Not Call�
facility. |
| 1.23 |
Disclosure of Information to
CIBIL:
I understand that as a pre-condition,
relating to grant of the loans/ advances/ other
fund-based and non-fund-based credit facilities to me,
the Bank, requires my consent for the disclosure by the
Bank of information and data relating to me, of the
credit facility availed of/to be availed, by me,
obligations assumed/ to be assumed, by me, in relation
thereto and default, if any, committed by me, in
discharge thereof. Accordingly, I, hereby agree and give
consent for the disclosure by the Bank of all or any
such,
- information and data relating to me
- the information or data relating to any credit
facility availed of/ to be availed, by me, and
- default, if any, committed by me in discharge of
my such obligation, as the Bank may deem appropriate
and necessary, to disclose and furnish to Credit
Information Bureau (India) Ltd. and any other agency
authorised in this behalf by RBI.I, declare that the
information and data furnished by me to the Bank are
true and correct.
I, undertake that:
- The Credit Information Bureau (India) Ltd. and any
other agency so authorised may use, process the said
information and data disclosed by the Bank in the
manner as deemed fit by them; and
- The Credit Information Bureau (India) Ltd. and any
other agency so authorised may furnish for
consideration, the processed information and data or
products thereof prepared by them, to banks/ financial
institutions and other credit grantors or registered
users, as may be specified by the Reserve Bank in this
behalf.
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| 1.24 |
Force Majeure:
The
Bank shall not be liable if any transaction does not
fructify or may not be completed or for any failure on
part of the Bank to perform any of its obligations under
these Terms and Conditions or those applicable
specifically to its services/facilities if performance
is prevented, hindered or delayed by a Force Majeure
event (defined below) and in such case its obligations
shall be suspended for so long as the Force Majeure
event continues.
"Force Majeure Event" means any
event due to any cause beyond the reasonable control of
the Bank, including without limitations, unavailability
of any communication systems, breach, or virus in the
processes or payment or delivery mechanism, sabotage,
fire, flood, explosion, acts of god, civil commotion,
strikes or industrial action of any kind, riots,
insurrection, war, acts of government, computer hacking,
unauthorised access to computer data and storage
devices, computer crashes, malfunctioning in the
computer terminal or the systems getting affected by any
malicious, destructive or corrupting code or program,
mechanical or technical errors/failures or power shut
down, faults or failures in telecommunication etc.
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| 1.25 |
Indemnity:
I agree that I 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 or arising out of providing any of
the services or due to any negligence/mistake/misconduct on my part or breach or non-compliance by me of any of the Terms and
Conditions relating to any of the services or by reason of the Bank in good faith taking or refusing to take action on any
instruction given by me.
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| 1.26 |
Right of Lien/Set
off:
I hereby grant and confirm the existence of
the right of lien and set-off with the Bank, which the
Bank may at any time without prejudice to any of its
specific rights under any other agreements with me, at
its sole discretion and without notice to me utilise to
appropriate any moneys belonging to me and
lying/deposited with the Bank or due by the Bank to me,
towards any of the Bank�s dues and outstandings under or
in respect of a loan facility, including any
charges/fees/dues payable under these Terms and Conditions.. |
| 1.27 |
Miscellaneous:
Failure to enforce
any rights conferred by these Terms and Conditions or
any law shall not be deemed to be a waiver of any such
rights or operate so as to the exercise or enforcement
thereof at any subsequent time. |
| 1.28 |
Governing Law:
All claims, matters and disputes are subject to
the exclusive jurisdiction of the competent courts
in Mumbai only. These Terms and Conditions and/or
the operations in the accounts of the customer
maintained by the Bank and/or the use of the services
provided by the Bank shall be governed by the
laws of the Republic of India and no other nation.
The customer and the Bank agree to submit to the
exclusive Jurisdiction of the Courts located in
Mumbai, India as regards any claims or matters
arising under these Terms and Conditions.The Bank
accepts no liability whatsoever, direct or indirect,
for non-compliance with the laws of any country
other than the Republic of India. |
| 1.29 |
Should I have any complaint
relating to the features of any of the products/services
of the Bank that I hold/avail of, I am aware that I can
approach the Grievance Redressal Cell within the Bank at
[email protected] for a resolution and if I
do not get a satisfactory response within 30 days of
lodging the complaint, then, under the Banking Ombudsman
Scheme 2006,I can approach the Ombudsman appointed by
the Reserve Bank of India, in charge of the region where
I hold my account, details of which are available at
www.bankingombudsman.rbi.org.in |
| 1.30 |
In case there are no transactions initiated by me / us in the account for a continuous period of two years for Savings Account and one year for Current Account (excludes system generated transactions like credit interest,debit interest), I / We agree that the account would be treated as a 'Dormant' Account by the Bank. I/We agree that the account status would change to 'Active' only on my/our ( all joint holders) written instruction in this regard and by initiating a transaction by me / us at the home branch. I/We understand that until the account status is 'Dormant', transactions through Direct Banking Channels like ATM, Net Banking, Phone-banking may not be allowed by the Bank. |
| 1.31 |
I/We agree that, in case I/we have
issued single cheque/instruction, for debit to
my/our account, for issuing more than one Demand
Draft/Pay-order, then the same will reflect as
multiple debit entries in my/our account |
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2. SAVINGS ACCOUNTS | |
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| 2.1 |
Salary Accounts |
| 2.1.1 |
Reversal of Salary Credits: I
hereby irrevocably and unconditionally authorise the
Bank to on the request of my employer/Company recover by
marking hold funds/debiting/reversal of credit, any
excess amount credited by and/or on the instructions of
the employer/company into my account, with notice to me.
The Bank will not be held responsible and liable for any
such hold funds/debit/reversal of credit carried out by
the Bank. |
| 2.1.2 |
Closure of Salary Accounts:
I acknowledge that my account has been opened
with the Bank by virtue of my employment with
the employer/Company and is designated as "Salary
Account". I understand that pursuant to the arrangement
between the employer/Company and the Bank, at
the sole discretion of the Bank I may be entitled
for certain facilities on the salary account only
during the currency of my employment with the
employer/company or till the subsistence of the
arrangement between the employer/company and the
Bank. I shall notify the Bank cessation of services
with the employer/Company. I hereby agree that
the Bank may at its sole and absolute discretion
discontinue any of the said facilities completely
or partially on the salary account & close
the salary account if noticed that no amounts
are credited by and/or on the instructions of
the employer/Company to the salary account regularly
or in the event of my ceasing to be in the services
of the employer/Company for any reason whatsoever
after giving me a notice of 30 days. The words
"the employer/company" refers to the corporate
in which I am employed and on whose request the
salary account is opened with the Bank. |
| 2.2 |
I agree that any modification
to the mode of operation in my account can be effected
by the Bank with the consent of all joint holders to my
account. I acknowledge that the Bank will not be
entertaining any request for modification received
without consent of all joint holders to my account. I
further agree and acknowledge that till such time the
Bank shall continue to honor the instructions in
accordance with the mode of operation agreed at the time
of opening the account. |
| 2.3 |
Kid's Advantage
Account |
| 2.3.1 |
An account may be opened on
behalf of a Minor by his/her natural guardian or by a
guardian appointed by a court of competent jurisdiction.
The guardian shall represent the Minor in all
transactions of any 1 description in the above account
until the said Minor attains majority. Upon the Minor
attaining majority, the right of the guardian to operate
the account shall cease. |
| 2.3.2 |
The guardian agrees that the
Minor's account will not be entitled to any overdraft or
any borrowing facility whatsoever. |
| 2.3.3 |
If for any reason there is
inadequate balance or the Minor's account is overdrawn,
the Bank shall be entitled to dishonour any cheques
drawn on the said account without being liable for any
consequences arising there from. |
| 2.3.4 |
The guardian agrees that on
issue of ATM/Debit Card all the Terms and Conditions as
applicable to ATM/Debit Card and its usage mentioned
herein shall apply. |
| 2.3.5 |
The guardian agrees and
acknowledges that the withdrawal by the Minor, including
through use of ATM/Debit Card, attach no liability to
the Minor personally on account of Minority.
Accordingly, the whole of such liability is assumed by
the guardian and shall be discharged by the guardian
alone. The guardian shall be fully bound by all debits
to the Minor's account including through use of
ATM/Debit Cards. |
| 2.3.6 |
The guardian agrees that the
Bank shall be entitled to debit any of his/her accounts
to recover all charges, fees, interests, costs or any
amounts overdrawn from the Minor's account. |
| 2.3.7 |
In the event any special
facility such as life insurance cover for the guardian
is offered in the Minor's account, the provision of
clause 14.59.1 & 14.59.2 hereunder shall apply
mutatis mutandis. The guardian agrees that the Bank may
disclose in strict confidence to the insurance company
any personal information for any purposes arising out of
or in connection with such insurance cover. |
| 2.3.8 |
The guardian agrees to
indemnify the Bank against all actions, claims, demands,
proceedings, damages, losses, costs, charges and
expenses whatsoever which the Bank may at any time
incur, sustain, suffer or be put to as a consequence of
or arising out of opening and operation of the Minor�s
account including withdrawals/transactions through use
of ATM/Debit Card and further against all and any claims
of the Minor for any withdrawal/transactions made by the
guardian in the Minor's account. |
| 2.4 |
"No Frills"
Account: |
| 2.4.1 |
I agree that I can open
a "No Frills" account with the Bank subject to
my confirming that:
- I do not hold any other bank account and my annual
income is less than or equal to Rs. 50000. OR
- I do not hold any other Bank account and I am a
beneficiary under a Government Welfare Scheme.
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3. CURRENT ACCOUNTS | |
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| 3.1 |
I understand that as per extant
Reserve Bank of India guidelines, opening of any current
account requires declaration of existing credit
facilities with any of the Bank's branches or any other
bank.
I shall declare details of any such Credit
facilities enjoyed with any Bank in the Account Opening
Form, as per the required format therein.
I undertake
to obtain the requisite No Objection Certificate/s from
such Bank/s and hand it/them over to you before the
account gets opened. |
| 3.2 |
I agree to repay to the Bank on
demand, unconditionally, the amounts of overdrafts that
the Bank may grant to me from time to time, together
with interest accrued thereon. I agree that this does
not imply that the Bank is bound to grant me any credit
facility whatsoever. |
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4. FIXED DEPOSITS | |
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| 4.1 |
I agree to the Bank issuing
certificate in the prescribed form for tax deducted at
source on interest on Fixed Deposits, at the end of the
Bank's Financial Year only. |
| 4.2 |
I agree that on maturity of my
Fixed Deposit, in absence of my written instructions on
disposal, the Bank reserves the right at its discretion
to renew the deposit along with accrued interest thereon
at prevailing rates of interest for a similar tenor of
the deposit which has matured. |
| 4.3 |
I agree that in case of premature
withdrawal of my fixed deposit based on my instructions
or the instructions of all the joint depositors
in the case of joint deposit, the bank shall have
the right to recover interest already paid or
the penalty, if any, from the proceeds of the
fixed deposit in accordance with prevailing regulations
of the bank and the Reserve Bank of India.
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| 4.4 |
I agree that the Bank will pay
the Fixed Deposit amount either on maturity or premature
withdrawal only at the branch where the Fixed Deposit is
placed. |
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5. SUPERSAVER ACCOUNTS /
FACILITY | |
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| 5.1 |
In consideration of the Bank
agreeing to grant me a Temporary Overdraft facility for
an amount not exceeding the predefined limit which will
not exceed 90% of the amount/s that may be held by the
Bank in Fixed Deposits on my behalf, I hereby agree,
record and confirm, that the Bank shall have a first
charge on the amount/s of such Fixed Deposits (which
expression shall mean and include all such amounts
standing to my credit in the Fixed Deposit account with
the Bank and whether such sums are additional to or by
way of renewal of or replacement for any sums
deposited/to be deposited by me with the Bank or
otherwise together in each case with all and any
interest accruing in respect thereof) as a continuing
security for the due repayment by me to the Bank on
demand of all the sums which at any time or from time to
time become due and owing by me to the Bank in respect
of the said Temporary Overdraft Facility and all
interests, costs, charges, expenses, and other amounts
whatsoever which may become due and payable by me to the
Bank. I hereby irrevocably and unconditionally authorise
the Bank to appropriate, adjust and set off the amount/s
of such Fixed Deposits towards the dues of the Bank in
the event of my failure to pay the amount demanded from
me by the Bank, the demand of the Bank being conclusive
as to my liability for repayment thereof and for the
said purpose.I hereby irrevocably and unconditionally
authorise the Bank to, basis my consent terminate all or
any part of the Fixed Deposit prior to the maturity date
thereof. |
| 5.2 |
I hereby irrevocably and
unconditionally agree that the Bank shall be entitled to
discontinue or terminate the said Temporary Overdraft
Facility at any time with 30 days notice to me. |
| 5.3 |
I am aware that incase a
Supersaver facility is withdrawn by me, then I have to
maintain the stipulated Average Quarterly Balance for
that entire quarter and also in subsequent quarters.
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| 5.4 |
I am aware that the Bank will provide a Temporary Overdraft facility of predefined amount. On autorenewal of my Fixed Deposit along with the Principal, the overdraft limit remains unchanged. In case I require a higher limit, I will be required to provide written instructions to the Bank
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6. SWEEP-IN ACCOUNT | |
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| 6.1 |
I agree that my Fixed
Deposit(s) linked for Sweep-in facility to my savings
account/current account should be in the same name(s)
and title as my account. |
| 6.2 |
I agree that all Sweep-in
deposits will be for a predetermined period only. I
authorise the Bank to break units of deposits formed due
to Sweep-out instruction in case there is insufficient
balance in my linked savings/current account. |
| 6.3 |
I am aware that incase a
Sweep-in facility is withdrawn by me, then I have to
maintain the stipulated Average Quarterly Balance for
that entire quarter and also in subsequent quarters from
time to time. |
| 6.4 |
I am aware and acknowledge that only the principal amount of the fixed deposit/s and not the interest will be considered for sweep in facility. Accordingly, Bank shall not be liable for any consequences arising out of non compliance of any payment instructions due to insufficiency of principal amount to honour payments under sweep-in facility. |
| 6.5 |
I am aware that, incase of linkage of more than one deposit to the Savings / Current Account for a Sweep-in, the system will first Sweep-in funds from the oldest deposit opened, i.e., the deposit which was first linked to the Savings / Current Account based on the First-In-First-Out method. |
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7. ATM USABLE CARDS: (Refers to Cards usable
at the ATM) | |
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| 7.1 |
FEES:
I agree that
all fees/taxes/surcharges/service charges and all other
levies related to the ATM usable Card may be recovered
by the Bank by debit to my /our account. |
| 7.2 |
TRANSACTIONS
RESPONSIBILITY:
I will be responsible for all
types of transactions processed by use of my ATM usable
Card, whether or not processed with my knowledge or
authority, express or implied. I shall accept the Bank's
record of transactions as conclusive and binding for all
purposes. |
| 7.3 |
CASH WITHDRAWAL
LIMITS:
I will be allowed to withdraw through the
ATM, the available balance in my account or a stipulated
predefined limit per day, whichever is lower. This per
day limit will be determined by the Bank and may be
changed at any time at the Bank's sole discretion
without notice to me. I agree that cash withdrawals will
be subject to tax as applicable from time to time.
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| 7.4 |
OVERDRAWN ACCOUNTS:
I
agree not to attempt to overdraw cash from the ATM
unless sufficient funds are available in my account for
effecting the transactions. The onus of ensuring
adequate account balances is entirely on me. In case my
account gets overdrawn due to cash withdrawal from the
ATM, I agree to rectify the account balance position
immediately. In case my /our account gets overdrawn, the
Bank may levy interest at prime lending rate applicable
from time to time and the same shall be charged on the
debit balance on my account. |
| 7.5 |
DEPOSITS/WITHDRAWALS/OTHER
TRANSACTIONS:
I agree that a receipt will be produced by the
ATM for all cash/cheque deposits/withdrawals/other
transactions and that no separate receipt will
be issued by the Bank. The amount of deposit will
be verified by the Bank's staff / authorised representative,
and this verified amount shall be deemed to be
the correct amount and binding on me conclusively.
I shall not deposit any cash in a Cheque Drop
Box nor deposit any cash / cheque in a Drop Box
meant for collecting other documents / payments.
I agree and acknowledge that in case I deposit
any cash / cheque in the wrong Drop Box then the
Bank shall not be liable for the same. I acknowledge
that no receipt will be issued for any cheque
deposits in the Drop Box. I understand that the
Bank will process the cheque deposited in the
ATM machine or Cheque Drop Box on the basis of
the information provided by me in the Pay-in slip
duly filled by me, The Bank will not be held responsible
for any non-credits/wrong credits due to incorrect
information provided by me in this regards. I
shall hold the Bank harmless for any consequences
arising thereof. |
| 7.6 |
PIN:
To enable me to
use the Card at ATMs, a Personal Identification Number
(PIN) will be issued to me. The PIN shall be mailed to
me and I will ensure that the same is received in a
sealed envelope. The PIN may subsequently, be changed by
me, at my own risk, at an ATM. The security of the PIN
is very important and that I must keep it confidential
and not reveal to any third party. If I fail to observe
these security requirements, I shall be responsible and
liable for any consequences arising there from. |
| 7.7 |
VALIDITY OF CARD:
I
agree that the ATM usable Card at all times is the
Bank's property. The validity period of the ATM usable
Card will be mentioned on the face of the Card. I agree
to surrender the Card to the Bank in case of account
closure or whenever demanded by the Bank for any reason
whatsoever. |
| 7.8 |
LOST CARD:
In case my
ATM usable Card is misplaced, stolen or otherwise lost,
I agree to immediately report the event in writing to
the Bank/call up PhoneBanking. The Bank shall not be
liable for any loss by the misuse of the Card prior to
the Card being reported as lost/ stolen by me. |
| 7.9 |
SECURITY OF CARD:
I
agree that the Card will be despatched to the address on
record with the Bank. I agree to keep ATM usable Card in
Safe custody and agree not to hand over the Card to
anyone including anyone who claims to represent the
Bank. I understand that the Bank shall not be
responsible for any misuse of the Card by virtue of the
same falling into wrong hands prior to the Card being
reported as lost/stolen by me. |
| 7.10 |
WRONG ENTRIES TO ACCOUNT DUE
TO ATM TRANSACTIONS:
In case I notice that a wrong entry has been debited
to my account for ATM transactions done by me,
I would immediately raise the issue with the branch
where my account is maintained (Account Branch).
I understand that the Bank will investigate and
revert to me with its findings and decision of
the Bank shall be final and binding on me. |
| 7.11 |
AUDIT TRAIL TO BE FINAL AND
CONCLUSIVE IN CASE OF ANY DISPUTE:
I agree that
in case of any dispute the Bank will be using the Audit
Trail of the ATM (either in a Printed/non-editable
Electronic Form) as the final and conclusive evidence in
all disputes. I agree to abide by the recordings of the
Audit Trail. |
| 7.12 |
In case, I receive a mutilated/
torn/cut currency note(s) from the ATM, I will visit the
account branch and exchange the note(s) by submitting a
letter and the transaction slip and confirming that I
transacted at the ATM. I accept that any other form of
claim will not be entertained by the Bank. |
| 7.13 |
In case the Bank finds a Forged
/ Mutilated / Torn Note in the Deposit that I make
through the ATM / Teller counter then the Bank will not
give me the Credit corresponding to the value of the
Forged / Mutilated / Torn Note. I understand that the
Bank will also not give me the Forged Note back.
However, based on my written request, the Bank will
return the Mutilated / Torn Note back to me. The Bank
will also comply with all the requirements/ guidelines
on reporting to authorities as per the guidelines issued
by Reserve Bank of India. |
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8. PHONEBANKING | |
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| 8.1 |
Definitions:
In this
document the following words and phrases have the
meanings set opposite them unless the context indicates
otherwise: |
| 8.1.1 |
Account(s) refers to the
Customer's Savings Account and/or Current Account and/or
Term Deposit Account and/ or Demat Account and/ or
Personal Loan Account and/ or Automobile Loan Account
and/ or Two Wheeler Loan Account and/ or Investment
Account and/or any other type of account (each an
�Account� and collectively �Accounts�, so maintained
with HDFC Bank which are eligible Account(s) for
operations through the use of PhoneBanking. The oldest
live Savings Account or Current Account of the Customer
shall be designated the Primary Account for purpose of
PhoneBanking, and all other Savings or Current
Account(s) (if any) of the Customer referred to as
Secondary Account(s). |
| 8.1.2 |
PhoneBanking/PhoneBanking
Service refers to HDFC Bank�s PhoneBanking service,
pursuant to which HDFC Bank would provide information
and facilitate transactions through telephone, e-mail or
other systems to the Customer thereof, in relation inter
alia to the Account(s) of such Customer, about products
and services of HDFC Bank and other entities with whom
HDFC Bank has entered into arrangements. |
| 8.1.3 |
"TIN" (Telephone
Identification Number) refers to a 4-digit
number that is provided by HDFC Bank for accessing
PhoneBanking Service. |
| 8.1.4 |
TERMS refer to Terms and Conditions for use of PhoneBanking as specified in
this
document. |
| 8.1.5 |
"Cust Id" (Customer
Identification Number) refers to a system
generated but random Unique Identification Number
provided to each Customer at the time of opening of the
Savings or Current or Term Deposit Account. |
| 8.2 |
Applicability of TERMS
:
These TERMS form the contract between the Customer
and HDFC Bank. Each customer of HDFC Bank at locations
where PhoneBanking Service is extended to customer(s)
shall be eligible for PhoneBanking, based on eligibility
norms as prescribed by HDFC Bank from time to
time. HDFC Bank shall be entitled at its sole
discretion to accept or reject any application
received at locations where PhoneBanking Service
is not available or for a customer who is not
eligible as per HDFC Bank norms. |
| 8.2.1 |
By applying for the PhoneBanking
Service and accessing the service for the first
time, I acknowledge and accept these TERMS. Notwithstanding
anything contained herein, all Terms and Conditions
stipulated by HDFC Bank in connection with the
account(s) shall continue to apply. |
| 8.3 |
PhoneBanking
Service:
HDFC Bank shall endeavour to provide to me through
the PhoneBanking Service, various services including
but not limited to enquiry of the balance in the
account(s), request for account(s) Statement and
/or Cheque Books, request for transfer of funds
between the account(s) of the same customer and
such other facilities as HDFC Bank may decide
to provide from time to time. I accept that HDFC
Bank reserves the right to decide the type of
services that may be offered on each account and
may differ for different categories of customers.
The services through PhoneBanking shall be provided
in a phased manner at the discretion of HDFC Bank.
I am aware and accept that HDFC Bank reserves
the right to revise, suspend in whole or in part
any of the services provided through PhoneBanking,
with notice of 30 days communicated to me on the
Bank�s website and other acceptable modes of communication,
and these shall be binding on me. |
| 8.4 |
Access to PhoneBanking
Services : |
| 8.4.1 |
I am aware and accept that
HDFC Bank has agreed to provide the PhoneBanking
Service by giving instructions through the 24-hour
Interactive Voice Response system and/or through
a PhoneBanker. PhoneBanker assisted service timings
are communicated and updated on HDFC Bank�s website
and other acceptable modes of communication. |
| 8.4.2 |
I am aware and accept that to
avail the PhoneBanking Service, I am required to
identify myself to the PhoneBanking system by
successfully validating the Customer Identification
Number and the Telephone Identification Number (TIN)
and/or successful verification as per the procedures as
decided by HDFC Bank from time to time. The transactions
done post the successful validation shall be binding on
me and the relevant records of which will be admissible
in the event of any dispute. |
| 8.4.3 |
I am aware and accept that HDFC
Bank has no means of verifying the identity of the
person giving the telephone instructions in my name and
any transaction made will be binding on me subject to
the successful validation as detailed in Clause 8.4.2.
|
| 8.4.4 |
I am aware and accept that
the PhoneBanking Services will be available to
all the account holders of HDFC Bank and the operating
instructions as applicable in the account(s) would
be applicable to the PhoneBanking Services mutatis
mutandis. |
| 8.4.5 |
An account in the name
of a Minor or an account, in which a Minor is
a Joint account holder, is not eligible for PhoneBanking.
I am aware and accept that in case of Minor account(s),
where I as the Natural Guardian have a TIN (allotted
to the Natural Guardian basis his own account
relationship with HDFC Bank), I undertake to give
all instructions relating to the operation of
the account and further undertake not to reveal
the Customer Identification Number and TIN to
the Minor. |
| 8.5 |
Telephone Identification
Number (TIN) : |
| 8.5.1 |
HDFC Bank will provide me a
4-digit TIN of which I will maintain secrecy and ensure
that the same is kept confidential; and, not let any
unauthorised person including any employee or
representative of HDFC Bank, voluntarily, accidentally
or by mistake, have access to the TIN. If I forget /
lose / misplace the TIN or the TIN ceases to remain
secret, I undertake to inform HDFC Bank immediately.
|
| 8.5.2 |
I am aware and accept that I
may request for the issue of a new TIN through
PhoneBanking or at any HDFC Bank branch or have the TIN
re-generated online through PhoneBanking, as per the
required process. A new TIN will be issued to me after
the necessary authentication procedures are carried out.
I am aware and accept that issuance of a new TIN shall
not be construed as the commencement of a new contract.
|
| 8.5.3 |
I acknowledge and accept that the
despatch and delivery norms of the TIN would be
as detailed in Clause 1.13 |
| 8.6 |
Charges :
I
acknowledge and accept that the applicable charges would
be as detailed in Clause 1.9. |
| 8.7 |
Financial Transactions
:
I understand that the facility of financial transactions
will be provided in accordance with the procedures
as decided by HDFC Bank from time to time and
subject to successful validation of my bonafides�.
I understand that HDFC Bank will endeavour to
effect such transactions received through PhoneBanking
Service subject to sufficient balance available
in my Bank account. |
| 8.8 |
Limits :
I am aware and accept that HDFC Bank may from
time to time impose maximum and minimum limits
on Financial Transactions given to the customer
hereunder. I acknowledge and accept and agree
that the same is to reduce the risks on me. For
instance, HDFC Bank may impose transaction restrictions
within particular periods or amount restrictions
within a particular period or even each transaction
limits. I understand and agree that I shall be
bound by such limits. |
| 8.9 |
Authority to HDFC Bank
:
I understand and accept that the read-out or
the faxed /email output, if any, that is received by me
at the time of operation of PhoneBanking is a record of
the operation of the telephonic access by me. I
understand that all the records of HDFC Bank generated
by the transactions arising out of the use of the
PhoneBanking Service, including the time the transaction
recorded shall be conclusive proof of the genuineness
and accuracy of the transaction, and admissible evidence
in case of any dispute. The authority to tape or record
the transaction over telephone is hereby expressly
granted by me to HDFC Bank. |
| 8.10 |
Liability on Hotlisting of
ATM / Debit / Pre-paid Cards :
I am aware and accept that to protect my interest,
the facility of reporting Loss of ATM / Debit
/ Prepaid Cards is available 24 hours and HDFC
Bank will carry out the request for Hotlisting
of my ATM / Debit / Prepaid Card, the request
for which may be received from me or any other
person acting on my behalf or the �finder� of
the said Card who may not be related to or authorised
by me. I accept that HDFC Bank will not be liable
for any losses or damages on account of my not
being able to use the Hotlisted Card to carry
out any transactions. |
| 8.11 |
Changes in Terms &
Conditions :
I understand and accept HDFC Bank
has the absolute discretion to amend or supplement any
of the TERMS at any time and will give prior notice of
30 days for such changes. Changed Terms and Conditions
for the new services introduced shall be communicated to
me on the Bank�s website and by other acceptable modes
of communication. By using the services, I shall be
deemed to have accepted the changed Terms and Conditions. |
| 8.12 |
Termination of PhoneBanking
Services:
I agree to give HDFC Bank 7 days notice in writing
and obtain a receipt thereof in order to terminate
the PhoneBanking services availed of by me. I
understand that in event the PhoneBanking facility
is used by all or any Joint account holders, the
termination notice shall be given by all the Joint
account holders. I accept that the termination
shall take effect on the completion of the seventh
day, and I will remain responsible for any transactions
made through the PhoneBanking Service until the
time of such termination. I accept that HDFC Bank
may suspend or terminate PhoneBanking facilities
without prior notice if I have breached these
Terms and Conditions or HDFC Bank learns of my
death, bankruptcy or lack of legal capacity. |
| 8.13 |
Notices :
I understand that Notices under these TERMS may
be given by HDFC Bank and me in writing by delivering
them by hand or by sending them by post to the
last address given by me and in the case of HDFC
Bank to its Corporate Office address as set out
herein above. In addition, HDFC Bank may also
publish notices of general nature, which are applicable
to all customer(s) of PhoneBanking in a newspaper
or on its website. Such notices will have the
same effect as a notice served individually to
me. I understand and accept that Notice and instructions
will be deemed served 30 days after posting or
upon receipt in the case of hand delivery, cable,
telex or facsimile. |
| 8.14 |
Governing Law :
I understand that these Terms and Conditions and/or
the operations in my account(s) maintained by
HDFC Bank and/or the use of the services provided
through PhoneBanking shall be governed by the
laws of the Republic of India and no other nation.
I and HDFC Bank agree to submit to the exclusive
Jurisdiction of the Courts located in Mumbai,
India as regards any claims or matters arising
under these Terms and Conditions. I understand
that HDFC Bank accepts no liability whatsoever,
direct or indirect, for non-compliance with the
laws of any country other than the Republic of
India. I accept that the mere fact that the PhoneBanking
Service can be accessed by me in a country other
than India shall not be interpreted to imply that
the laws of the said country govern these Terms and Conditions and/or the operations in my
PhoneBanking
Account(s) and/or the use of PhoneBanking. |
| 8.15 |
Applicability to Future
Accounts:
I agree that if I open further account(s) with
/ subscribe to any of the products/services of
HDFC Bank, and HDFC Bank extends the PhoneBanking
Service to such account(s) or products or services
and I opt for use thereof, then these TERMS shall
automatically apply to such further use of the
PhoneBanking by me. |
| 8.16 |
General :
|
| 8.16.1 |
I understand that the clause headings
in this agreement are only for convenience and
do not affect the meaning of the relative clause.
|
| 8.16.2 |
I am aware and accept that HDFC
Bank may sub-contract and employ agents to carry out any
of its obligations under this contract. I accept that
HDFC Bank may transfer or assign its rights and
obligations under this contract to any other entity.
|
| 8.16.3 |
I am aware and accept that the
PhoneBanking Service would operate during timings
specified by HDFC Bank from time to time and
transactions would be carried out on the same day or on
the next working day depending upon the time of logging
of the transaction. |
| 8.16.4 |
I accept that I would have to
ensure that the telephone I use meets the criteria. I am
aware that the service is available only in certain
cities, and all costs incurred by me including
tele-communication costs to use PhoneBanking would be
borne by me. |
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9. BILL PAY
| |
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| 9.1 |
I agree and accept the services
as provided by the Bank at my request to carry out my
bill payments by
PhoneBanking/ATM/NetBanking/MobileBanking on my account
as given by me from time to time. |
| 9.2 |
I agree to provide my correct
identification details as registered with the billing
company. I agree to indemnify the Bank from any
liability due to erroneous/incomplete information given
by me in this regard. |
| 9.3 |
I agree that in case of any
change in my identification details, it is my sole
responsibility to communicate these changes as
registered with the billing company to the Bank
immediately. |
| 9.4 |
I agree that this facility will
be available to me subject to and upon receipt of the
billing company's confirmation as to the details
furnished by me. |
| 9.5 |
I have no objections whatsoever
to the billing company providing my billing details to
the Bank. |
| 9.6 |
I agree that all billing and
payment details will be prepared by electronic means and
the information contained therein will be extracted from
the computerised system maintained by the billing
company and the Bank respectively. The Bank is not
liable for any error in the statement as provided by
billing company and I shall always hold the Bank
harmless against any losses, damages etc. that may be
incurred or suffered by me if the information contained
is inaccurate/incorrect/incomplete. |
| 9.7 |
I agree that any disputes on
bill details will be settled directly by me with the
billing company and the Bank's responsibility is limited
to provision of information only. |
| 9.8 |
I agree to pay the exact amount
due as per the billing company's bill before the expiry
of due date thereof and failing which I hold the Bank
harmless against the consequences thereof including in
particular the non-payment of bill amount. |
| 9.9 |
I unconditionally agree that I
shall not hold the Bank liable for : |
| 9.9.1 |
such transactions that are
carried out on my instructions by the Bank in good
faith. |
| 9.9.2 |
not carrying out such instructions
where the Bank has reason to believe (which decision
of the Bank I shall not question/dispute) that
the instructions are not genuine or are otherwise
unclear, improper, vague or doubtful. |
| 9.9.3 |
accepting instructions given by
any one of us in case of joint accounts. |
| 9.9.4 |
for any loss or damage incurred
or suffered by me due to any error, defect, failure or
interruption in the provision of bill payment services
arising from or caused by any reason whatsoever. |
| 9.9.5 |
withdrawing/suspending the
facility wholly/partially where Bank on a best-effort
basis has tried to notify me through its website or
through any legally recognised medium of communication
giving a minimum notice of 30 days. |
| 9.10 |
I agree that the record of
instructions given and transactions with the Bank shall
be conclusive proof and binding for all purposes and can
be used as evidence in any proceedings. |
| 9.11 |
I agree that all transactions
other than those executed instantaneously by the Bank,
that is those requiring processing by the Bank/Billing
company will be carried out only during business hours
and the value dates if any, will follow the operating
hours /days decided by the Bank /billing company. |
| 9.12 |
I agree to give the Bank 15
days notice in writing and obtain an acknowledgment
thereof in order to terminate the Bill Payments facility
availed by me. |
| 9.13 |
I agree that all the conditions
applicable to ATM Services, PhoneBanking Services,
NetBanking Services and MobileBanking Services are
binding on me in this regard. |
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10. MOBILE BANKING | |
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| 10.1 |
Definitions:
In this
section, the following words and phrases have the
meaning set opposite them unless the context indicates
otherwise:
"MobileBanking" means facility
of access to information relating to the Saving /
Current Account(s) / Fixed Deposit of the Customer and
usage of products and/or other services as may be
advised or made available on the Customer�s Mobile Phone
by the Bank from time to time on / through
MobileBanking. The words MobileBanking and MobileBanking
Services are used interchangeably in this
document.
"Mobile Phone" means the handset
together with requisite accessories, equipment
attachments and other software which is owned /
possessed by the Cellular Service subscriber.
"User or I" refers to a Customer of the
Bank authorized to use the MobileBanking Service
provided by the Bank.
"Personal
Information" refers to the information about the
User obtained in connection with the MobileBanking
Service.
"Cellular Service" hereafter referred to
as "CSP" refers to the GSM/ CDMA / GPRS / EDGE
Service provider (for operation of Mobile Phones)
/ any Aggregator who have entered into an agreement
with the Bank for provision of MobileBanking Services
to its customers. |
| 10.2 |
Applicability of Terms and Conditions:
These Terms and Conditions
form the
contract between the User, the Bank and the Cellular
Service Provider (hereinafter referred to as the CSP)
and shall be in addition to and not in derogation of the
Terms and Conditions relating to any account of the User
and / or the respective product or the service provided
by the Bank, or the CSP. |
| 10.3 |
Eligibility :
Any customer of the Bank, having a saving and
or current and or fixed deposit account authorised
to operate singly or on either or survivor basis
and who is also a current subscriber of the CSP.
The User should have access to the Mobile Phone
and knowledge of how the Mobile Phone works. The
User should at all times possess the Mobile Phone
software, which are required for using MobileBanking.
In case of Minor accounts, only the natural guardian
of the Minor shall be eligible to avail of this
service. |
| 10.4 |
Registration :
I
agree that I shall be entitled to use the MobileBanking
Service only if my application is found in order and the
relevant particulars are registered by the Bank and the
CSP. The Bank and the CSP shall be at liberty to reject
my application without assigning any reason. |
| 10.5 |
The Bank shall endeavour to
provide to the user through MobileBanking, such services
as the Bank may decide from time to time. The Bank
reserves the right to decide the type of services, which
a category of user may be offered on each account and
may differ from category to category.
The Bank may
also make additions /deletions to the services offered
through MobileBanking at its sole discretion. |
| 10.6 |
Only those accounts opened with
the Bank and attached to the respective User's ID will
be accessible through MobileBanking. |
| 10.7 |
There will be no obligation
on the Bank to support all the versions of this
Mobile Phone software. |
| 10.8 |
I agree that I shall use only
my Mobile Phone to access the MobileBanking Service of
the Bank. The access is restricted to me on the specific
Mobile Phone Number only as registered with the Bank for
MobileBanking. I understand the security of the
MobileBanking PIN ( m-PIN ) is very important and that I
must keep my m-PIN confidential and not reveal to any
third party. I shall not write/record it at any place
whereby some other person can come to know my m-PIN
number. I understand that in case I fail to
follow/adhere to these I shall be solely responsible for
consequences arising there from. I must not let any
other person have access to my Mobile Phone or leave the
Mobile Phone unattended.I shall not attempt or permit
others to attempt accessing the account information
stored in the computers of the Bank through any
unauthorised means. |
| 10.9 |
I grant express authority to
the Bank for carrying out the transactions performed by
me through MobileBanking. The Bank shall have no
obligation to verify the authenticity of any transaction
received from me through MobileBanking or purporting to
have been sent by me via MobileBanking other than by
means of verification of the Mobile Phone Number. The
display that is produced by me at the time of operation
of MobileBanking is a record of the operation of the
mobile access and shall not be construed as the Bank's
records of the relative transactions. The Bank's own
records of transactions maintained through computer
systems or otherwise shall be accepted as conclusive and
binding for all purposes unless I point out any
discrepancy within 15 days from the date of receipt of
periodical statement. All transactions arising from the
use of MobileBanking, in a joint account, shall be
binding on all the joint account holders, jointly and
severally. |
| 10.10 |
I am responsible for the
correctness of information supplied by me to the Bank
through the use of or through any other means such as
electronic mail or written communication. Neither the
Bank nor the CSP accepts any liability for the
consequences arising out of erroneous information
supplied by me. If I suspect that there is an error in
the information supplied to the Bank by me, I shall
advise the Bank as soon as possible .The Bank will
endeavour to correct the error promptly and adjust any
interest or charges arising out of the error. 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
computerized 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, which may happen due to reasons beyond
its control like Data getting corrupted in transmission.
|
| 10.11 |
Liability of the User
:
I shall not be liable for losses arising out of
the unauthorized transactions occurring in my accounts
if I have complied with the Terms and advised the Bank
in writing under acknowledgement immediately after I
suspect that my Mobile Phone number is / has been
allotted to another person and/or notice an unauthorized
transaction in my account, after a maximum of 2 days
from the receipt of such advice by the Bank.
I
agree that the access to MobileBanking is through my
Mobile Phone and any transaction, which originates from
the same, whether initiated by me or not shall be deemed
to have originated from me. I shall be liable for all
loss from unauthorized transactions in my accounts if I
have breached the Terms or contributed or caused the
loss by negligent actions such as the following:
- Not advising the Bank in a reasonable time about
unauthorized access to or erroneous transactions in
the MobileBanking accounts.
- In case of change in or termination of the Mobile
Phone number/SIM Card, not informing the CSP and the
Bank about the change/ termination.
I
understand that in the event of loss of my Mobile Phone
or it falling in the wrong hands, it can be misused. I
indemnify the Bank for any such misuse arising out of
the same. I shall not hold Bank responsible for any loss
that I may suffer in these circumstances. |
| 10.12 |
Liability of the Bank
:
The Bank shall, in no circumstances, be held
liable to me, if access is not available in the desired
manner for reasons including natural calamity, floods,
fire and other natural disasters, legal restraints,
faults in the telecommunication network or network
failure, non delivery of SMS, software or hardware error
or any other reason beyond the control of the Bank.
Under no circumstances shall the Bank be liable for any
damages whatsoever whether such damages are 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 User or any
other person. The Bank is in no way liable for the
services provided by the CSP in relation to the Mobile
Phone. The Bank is in no way responsible/liable for the
charges levied by the CSP in relation to MobileBanking
transaction. |
| 10.13 |
Liability of the CSP
:
Due to limitations of the SMS (Short Messaging
Services) Technology and of WAP (Wireless Application
Protocol) Technology, the CSP and the Bank do not
warrant the confidentiality or security of the messages
whether personal or otherwise transmitted through
MobileBanking Service. The CSP makes no warranty or
representation of any kind in relation to the system and
the network or their function or performance or for any
loss or damage whenever and however suffered or incurred
by the User or by any person resulting from or in
connection with the MobileBanking Service or the CSP
network. Without limitation to the other provisions of
this agreement, the CSP, its employees, agents or
contractors, shall not be liable for any loss or damage
whether direct, indirect or consequential, including but
not limited to loss of revenue, profits, business,
contracts, anticipated savings or goodwill, loss of use
or value of any equipment including software, whether
foreseeable or not, suffered by the User or any o ther
person howsoever arising from or relating to any delay,
interruption, suspension, resolution of error of the
Bank and the MobileBanking Service in receiving and
processing the request and in formulating and returning
responses or any failure, delay, interruption,
suspension, restriction or error in the transmission of
any information or message to and from the
telecommunication equipment of the User and the CSP
network and the Bank's system or any break down,
interruption, suspension or failure of the
telecommunication equipment of the User, the Bank's
system or the CSP network. Notwithstanding herein to the
contrary, the CSP shall not be involved in or in any way
liable to the User for any dispute between the Bank and
the user. |
| 10.14 |
Indemnity :
I shall indemnify and hold the Bank and the CSP
harmless against any loss suffered by the Bank,
its customers or a third party or any claim or
action brought by a third party which is in any
way the result of the MobileBanking transactions
done by me. I agree that the MobileBanking Service
uses the network provided by the CSP. I hold the
Bank harmless against any loss incurred by me
due to failure in this network. |
| 10.15 |
Disclosure of Personal
Information :
I agree that the Bank or its
contractors may hold and process my Personal Information
on computer or otherwise in connection with
MobileBanking Services as well as for statistical
analysis and credit scoring. |
| 10.16 |
Termination of MobileBanking
Service :
I can request for termination of the
MobileBanking Services at any time by giving a written
notice of at least 15 days to the Bank from the time the
Notice is delivered to the Bank. I agree that I will
remain responsible for any transactions made on my
MobileBanking account(s) through MobileBanking until the
termination of my MobileBanking Service.
The Bank
may withdraw the MobileBanking Services anytime and
shall endeavour to give a 30 days notice to me. The
closure of all my accounts will automatically terminate
the MobileBanking Service. Similarly the Bank may
suspend or terminate MobileBanking Services without
prior notice if I have breached these Terms and Conditions or if the Bank notices some errors /
omissions / fraudulent transactions related to my
account or Cust id. |
| 10.17 |
Notices :
The Bank
may give notices under these Terms and Conditions,
electronically to my mailbox (which will be regarded as
being in writing), or in writing by hand-delivery, or by
sending them by post to the last address given by me and
in the case of the Bank to its registered office. In
addition, the Bank may also publish notices of general
nature, which are applicable to all Users of
MobileBanking on its website. Such notices will have the
same effect as a notice served individually to me.
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11. INSTAALERT | |
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| 11.1 |
Definitions :
In
these Terms and Conditions, the following terms shall
have the following meanings:
"Alerts" or "Facility" or "Alerts Facility" mean
the customized messages based on Triggers, sent
as Short Messaging Service ("SMS") over mobile
phone or as message via Email to the Customer;
"Account" means any Savings/Current Account of
the Customer with the Bank; "Bank" means any branch
in India of HDFC Bank Ltd in which the Customer's
Account is maintained; "Customer" means the person
who holds an Account with the Bank; "Triggers"
means the customized instructions to be set or
placed by the Customer or by the Bank with the
Bank & its systems, with respect to specific
events/transactions relating to his Account to
enable the Bank to send the corresponding Alerts
to the Customer. "CSP" means the cellular service
provider through whom the Customer or the Bank
receives the mobile services. |
| 11.2 |
Availability |
| 11.2.1 |
I have requested for this facility
which the Bank at its sole discretion may discontinue
at any time with the Bank providing a prior intimation
on a best-effort basis through its website or
any legally recognised medium of communication.
The Facility is currently available to resident
customers through SMS on mobile phone and E-mail
and for non-resident Indian customers only through
E-mail. The Bank may at its discretion extend
the facility to Non Resident customers in respect
of mobile phones of CSP rendering services. |
| 11.2.2 |
The Alerts would be generated
by the Bank and will be sent to me on the mobile number
provided by me and the delivery of the alert would be
entirely based on the service availability of the
service provider and connectivity with other cellular
circles of the CSPs or in circles forming part of the
roaming GSM network agreement between such CSPs. I agree
and understand that the Alerts being dependent on
various issues including connectivity the Bank cannot
assure final and timely delivery of the alerts. |
| 11.2.3 |
The alerts are dependent on
various issues including connectivity if I am within the
cellular circles of the CSPs or in circles forming part
of the roaming GSM network agreement between such CSPs.
|
| 11.2.4 |
A mobile phone/email trigger may
not be received by me or sent by the Bank if the
account operations have been suspended for any
reasons whatsoever. |
| 11.2.5 |
I assume full responsibility
for the security and confidentiality of my Mobile
Phone/mobile phone number and mobile phone
identification number to be used in initially gaining
access to my account(s) through the use of my mobile
phone. |
| 11.3 |
Process : |
| 11.3.1 |
To receive Alerts, I may select
and set all or any of the Triggers available under this
facility by submission of the duly completed
Registration form at any of the Bank branches/locations.
The form could also be downloaded/submitted
electronically through the Bank's website
www.hdfcbank.com subject to the introduction of the
facility or format on the website. I can also register
Online through HDFC Bank NetBanking. Alerts shall be
sent to my mobile phone number and/or the E-mail ID
registered with the Bank. |
| 11.3.2 |
I am duty bound to acquaint
myself with the detailed process for using the facility
and the Bank is not responsible for any error/ omissions
by me in setting the Triggers. |
| 11.3.3 |
I acknowledge that the Alerts
will be implemented in a phased manner and the Bank may
at a later stage, as and when feasible, add more
Triggers or Alerts. The Bank may, at its discretion,
from time to time change the features of any Trigger or
Alert. I will be solely responsible for keeping myself
updated of the available Triggers or Alerts, which
shall, on best-effort basis, be notified by the Bank
through its website or through any legally recognized
medium of communication. I may, from time to time, alter
or add to the Triggers selected by me by prior written
intimation to the Bank by an acceptable mode of
communication. |
| 11.4 |
Setting Triggers and
Receiving Alerts : |
| 11.4.1 |
The Bank is not bound to
acknowledge the receipt of any request / forms given by
me for setting triggers nor shall the Bank be held
responsible to verify the requests / forms or Triggers.
The Bank shall endeavor to provide Triggers and Alerts
on a best effort basis and wherever operationally
possible for the Bank. |
| 11.4.2 |
The Bank may, in its
discretion, not give effect to any Triggers if the Bank
has reason to believe (which decision of the Bank shall
be binding on me) that the Triggers are not genuine or
otherwise improper or unclear or raises any doubt or in
case any Triggers cannot be put into effect for any
reasons whatsoever. |
| 11.4.3 |
I am solely responsible for
intimating in writing to the Bank any change in my
mobile phone number or e-mail address or account details
and the Bank will not be liable for sending Alerts or
other information over my mobile phone number/e-mail
address recorded with the Bank. |
| 11.4.4 |
I acknowledge that to receive
Alerts, my mobile phone must be in an �on� mode. If my
mobile phone is kept �off� for a specified period from
the time of delivery of an Alert message by the Bank,
that particular message may not be received by me.
|
| 11.4.5 |
Triggers will be activated by
the Bank within 7 working days after receipt of the form
as provided by me. Initially, the alerts provided by the
Bank on the mobile and/or the e-mail on any particular
day, will have a certain time lag and accordingly the
alerts being received are based on data available with
the Bank with a certain time lag and may not represent
data available on date of receipt. Select Alerts will be
sent based on data updated as of the preceding working
day. I also acknowledge that reasonable time may be
taken for data processing for the purpose of sending
Alerts on working days of the Bank. |
| 11.4.6 |
I acknowledge that the Facility
is dependent on the infrastructure, connectivity and
services provided by the CSPs within India. I accept
that timeliness, accuracy and readability of Alerts sent
by the Bank will depend on factors affecting the CSPs
and other service providers. The Bank shall not be
liable for non-delivery or delayed delivery of Alerts,
error, loss or distortion in transmission of Alerts to
me. |
| 11.4.7 |
The Bank shall endeavour to
provide the Facility on a best effort basis and I shall
not hold the Bank responsible / liable for
non-availability of the Facility or non-performance by
any CSPs or other service providers or any loss or
damage caused to me as a result of use of the Facility
(including relying on the Alerts for my investment or
business or any other purposes) for causes which are not
attributable to / and are beyond the control of the
Bank. The Bank shall not be held liable in any manner to
me in connection with the use of the Facility. |
| 11.4.8 |
I accept that each Alert
may contain certain account information relating
to me. I authorize the Bank to send account related
information, though not specifically requested,
if the Bank deems that the same is relevant. |
| 11.5 |
Withdrawal or Termination
: |
| 11.5.1 |
The Bank may, in its
discretion, withdraw temporarily or terminate the
Facility, either wholly or in part, at any time with a
notice period of 30 days. The Bank may, without prior
notice, suspend temporarily the Facility at any time
during which any maintenance work or repair is required
to be carried out or in case of any emergency or for
security reasons, which require the temporary suspension
of the facility. |
| 11.5.2 |
Notwithstanding the terms laid
down in clause 11.5.1 above, either I or the Bank may,
for any reason whatsoever, terminate this facility at
any time upon prior written notice. Liabilities incurred
by me shall, however survive the termination of this
facility. |
| 11.6 |
Fees : |
| 11.6.1 |
I shall be liable to pay to the
Bank such fees as may be applicable from time to time. I
shall be liable for payment of such airtime or other
charges, which may be levied by the CSP in connection
with the receiving of the Alerts, which may be levied by
the CSP as per the Terms and Conditions of the CSP, and
the Bank is in no way concerned with the same. |
| 11.6.2 |
Unless otherwise expressly
waived by the Bank, I shall pay the Bank, its standard
fees and charges for the use of the facility. In this
connection, the Bank is hereby authorised by me to debit
any of my account with the Bank from time to time.
|
| 11.7 |
Disclaimer : |
| 11.7.1 |
The Bank will not be liable
for:
- any unauthorised use of my account number or
- mobile phone number /instrument or unauthorised
access to e-mails received at my notified email
address for any fraudulent, duplicate or erroneous
instructions /Triggers given by use of the same
- acting in good faith on any instructions/Triggers
received by the Bank
- delay or inability of the Bank to act on all or
any of the instructions /Triggers for reasons beyond
the control of the Bank
- loss of any information/instructions /Alerts in
transmission
- unauthorized access by any other person or any
information /instructions /Triggers given by me or
breach of confidentiality.
|
| 11.7.2 |
The Bank shall not be concerned
with any dispute that may arise between me and the CSP
and makes no representation or gives no warranty with
respect to the quality of the service provided by the
CSP or guarantee for timely delivery or accuracy of the
contents of each Alert. |
| 11.7.3 |
Incase of a cheque deposit,
though the alert will be sent to me on deposit
of the cheque into the account, I am aware that
the clear funds will be available to me only on
clearing of the cheque. I am made aware by the
Bank that as per the process of clearing, the
credits may be reversed or may not fructify, including
due to late returns. I shall issue cheque or any
debit instructions only after confirming the available
balance in the account is sufficient for effecting
the transaction. |
| 11.7.4 |
The Alerts represent particular
transaction and it is not an indicator of available
credit balance in the account. |
| 11.8 |
Disclosure :
I accept that all information /Instructions /Triggers
will be transmitted to and /or stored at various
locations and be accessed by personnel of the
Bank (and its affiliates/agents). The Bank is
authorised to provide any information or details
relating to me or my account to the CSPs or any
service providers so far as is necessary to give
effect to any instructions/ Triggers. |
| 11.9 |
Liability and Indemnity
:
I shall indemnify and keep the Bank free and
harmless from and against all liabilities, losses,
claims and damages arising from negligence, fraud,
collusion or violation of the terms herein on my part
and/or a third party provided there is no gross
negligence on the part of the Bank. |
|
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|
12. NET BANKING | |
|
|
| 12.1 |
Definitions and
Interpretations: |
| 12.2 |
"NetBanking Terms and Conditions" shall mean the Terms and Conditions as
modified from time to time applicable to NetBanking
offered by the Bank. |
| 12.3 |
"Confidential Information"
refers to information obtained by the Customer, through
the Bank, for availing various Services through
NetBanking. |
| 12.4 |
"Payment Instruction" shall
mean an instruction given by a Customer to transfer
funds from the Account held by the Customer to different
account(s) held by other approved Customers within the
Bank or with any other Bank in India (select cities) and
/or request to issue Demand Drafts (DD) in the name of
the beneficiary who may or may not have an account with
the Bank or to make payments of the nature of bill
payments, Credit Card payments, VISA Money Transfer and
such payments of similar nature. The Bank may in its
sole and exclusive discretion confine this facility only
to certain permitted Customers or may extend it from
time to time to be generally available to all
Customers. |
| 12.5 |
INTERNET refers to the
network of computers / mobile phones / other electronic
devices which share and exchange information. The
Internet is a worldwide broadcasting capability,
mechanism for information dissemination, and a medium
for collaboration and interaction between individuals
and their computers / mobile phones / other electronic
devices capable of accessing the Internet without regard
for geographic location. |
| 12.6 |
NETBANKING SERVICES
is the Bank's Service (including all modifications
of such services) which provides access to account
information, products and other services (Including
transactions of non-financial and financial in
nature) as advised by the Bank from time to time
to the customers through the website of the Bank.
NetBanking Services also include the services
for Demat account, Credit Cards and loan on the
website of the Bank . The terms NetBanking and
NetBanking Services/facility may be interchangeably
used. |
| 12.7 |
CUSTOMER refers to any
person who has a Bank Account and/or a Demat Account
and/or a Credit Card account and/or a loan account who
has been authorised by the Bank to avail of the said
facility.
Customer Identification Number (Cust id) is a
system generated but random Unique Identification
Number that is given to each customer of the Bank.
IPIN is the Password that the customer needs to
use along with the Cust id in order to do his
NetBanking transactions. |
| 12.8 |
ACCOUNT refers to the
Customer's Savings and/or Current Account and/or Credit
Card account and/or loan accounts and/or Fixed Deposit
or Demat Account opened in NSDL or CDSL or any other
type of account so designated by the Bank to be eligible
account(s) for operations through the use of
NetBanking. |
| 12.9 |
PERSONAL INFORMATION
refers to the information about the customer obtained
in connection with NetBanking/any other Banking
relationship with the Bank. |
| 12.10 |
APPLICATION FOR
NETBANKING
The Bank may offer NetBanking to select customers
at its discretion. I agree that in order to be
eligible for NetBanking, I would need to be have
access to the Internet and knowledge of the use
and functionality of the Internet. I accept that
my application for NetBanking does not automatically
imply acceptance by the Bank.
The Bank at its Sole
discretion may reject my request for Registration for
NetBanking. The decision of the Bank will be final and
binding on me. |
| 12.11 |
SOFTWARE:
The Bank
will advise from time to time the Internet Software such
as Browsers, which are required for using NetBanking.
There will be no obligation on the Bank to support all
the versions of this Internet Software. I agree that I
shall be responsible for upgrading my software, hardware
and the operating system at my cost from time to time so
as to be compatible with that of the Bank. The Bank
shall be at liberty to change, vary or upgrade its
software, hardware, operating systems, etc., from time
to time and shall be under no obligation to support the
software, hardware, operating systems used by me and
that the same shall be my sole responsibility. |
| 12.12 |
NETBANKING
SERVICE:
The Bank shall endeavor to provide through NetBanking,
such services as the Bank may decide from time
to time. The Bank reserves the right to decide
the type of services that may be offered on each
account and may differ from customer to customer.
These facilities shall be offered in a phased
manner at the discretion of the Bank. The Bank
may also make additions / deletions to the services
offered through NetBanking at its sole discretion.
The availability / non-availability of a particular
service shall be advised through e-mail or SMS
or website of the Bank or through written communication.
All accounts opened with the Bank attached to
the same Cust id will be accessible through NetBanking.
In case of Joint accounts and accounts with two
or more signatories, the Bank will offer such
services as restricted by the Terms and Conditions
governing the operation of such accounts. In case
of Minor accounts, the natural guardian undertakes
to give all instructions relating to the operation
of the account and further undertakes not to reveal
the Cust id and IPIN to the Minor. The Bank shall
take reasonable care to ensure the security of
and prevent unauthorized access to the NetBanking
Service using technology reasonably available
to the Bank. |
| 12.13 |
OTHER HOLDERS OF DEMAT
ACCOUNT refers to such holders other than
the first named holder of the Demat Account. The
NetBanking Services of the Bank for Demat Account
is available to a customer who has a Demat Account
and a Bank Account in his name (i.e. the first
holder of the Demat Account and the Bank Account
to be same). The Bank reserves its rights to consider
any deviation to the above at it sole discretion.
The Demat Account will be attached to the Cust
id and will be accessible through NetBanking.
Wherever the Demat Account is jointly held by
the Customer, the Bank will construe that the
other holders of the Demat Account have authorized
the first holder to either query on the account
or initiate transaction on the account and it
will be binding on them.
Due
to the fact that the Bank receives Demat Information
from NSDL and CDSL , it is important to check the
current position with your respective branch.
All information coming from NSDL / CDSL is
provided on 'as is' basis without warranty of the kind.
The Bank makes no representation and disclaims all
express, implied and statutory warranties of any kind to
the user and/or any third party including warranties as
to accuracy, timeliness, completeness, merchantability
or fitness of the information for any particular
purpose. |
| 12.14 |
NETBANKING ACCESS:
I understand that the Bank would allot me a Cust
id and IPIN in the first instance.
I will be
required to change the IPIN assigned by the Bank on
accessing NetBanking for the first time and thereafter
at certain intervals. As a safety measure, the Bank may
ask me to change my IPIN on a compulsory basis.
I agree that in the absence of any specific
request from me for personally collecting the IPIN, the
IPIN shall be sent to me by courier at my risk and
consequences to the address notified by me for
correspondence.
In addition to Cust id and IPIN
the Bank may, at its discretion, require me to adopt
such other means of authentication including but not
limited to digital certification and / or Smart Cards
and/or Two Factor Authentication like Public or Private
Keys / Risk Engine / Challenge Questions.
I
agree that I shall not attempt or permit others to
attempt accessing the account information stored in the
computers of the Bank through any means other than the
NetBanking Service.
I am aware that the
transaction through NetBanking can be effected by
concurrent use of Cust id and IPIN. |
| 12.15 |
IPIN :
I
understand and agree that I must:
Keep the IPIN
totally confidential and not reveal the IPIN to any
third party.
Choose an IPIN which shall be at
least of 6 characters long or such minimum number as may
be specified by the Bank from time to time 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 number;
Commit the IPIN to memory and not record them in
a written or electronic form;
Not allow any
unauthorized person have access to my computer or leave
the computer unattended while accessing NetBanking;
I agree that in case I forget the IPIN, I can
request for change of the IPIN. Such replacement shall
not be construed / deemed as the commencement of a new
contract. |
| 12.16 |
CHARGES:
I authorize
the Bank to recover all charges related to NetBanking as
determined by the Bank from time to time by debiting my
account. The schedule of charges would be applicable as
mentioned on the website. |
| 12.17 |
MAILING ADDRESS:
All
correspondence / delivery by the Bank shall only be at
the address and / or e-mail address as registered with
the Bank. |
| 12.18 |
TRANSACTION PROCESSING:
All the instructions for instantaneous transactions
will be given effect to instantaneously unless
and until some processing work or Maintenance
activity is being done. In case the services are
not available during the End of the Day processing
then the transaction will get credit on the next
day.
All the requests for non-instantaneous transactions
such as Demand Draft Request, Fixed Deposit Opening
etc received after 10pm will be carried out at
the next working day on first in first out basis
subject to availability of clear funds in the
account authorised for debit .
Similarly requests for on-line Financial transactions
like Fund Transfer , Third Party Fund Transfer
, Credit Card payments and other such payments
received after 10pm will be carried out at the
next working day on first in first out basis
subject to availability of clear funds in the
account authorised for debit .
In case instructions for effecting any transactions
are received on weekly offs/holidays/public holidays,
they shall be effected on the immediately succeeding
working day on the Terms and Conditions prevailing
on that day.
I shall not hold the Bank responsible for not
processing/effecting any transactions in case
the Bank does not receive instruction to this
effect even though I have forwarded the same electronically,
i.e. by means of e-mails and short messaging services
(SMS). In the event of any dispute on the actual
communication made to the Bank , the records of
the Bank shall be final and binding on me .
I hereby agree to abide by the
following Terms and Conditions in addition to the Terms and Conditions as applicable to
NetBanking:
I shall be at liberty to utilise the Payment
Instruction Services through NetBanking for transfer of
funds for such purpose, as I shall deem fit;
I
have the full right and/or authority to access and avail
of the services obtained and the goods purchased and I
shall observe and comply with the applicable laws and
regulations in each jurisdiction in applicable
territories. I shall not involve the Bank as a party to
such transaction. I shall provide the Bank with such
information and/or assistance as is required by the Bank
for the performance of the Services and/or any other
obligations of the Bank herein.
I shall not at
any time provide to any person, with any details of the
accounts held by me with the Bank including, IPIN,
account number, Card numbers and PIN/ TIN / m-PIN which
may be assigned to me by the Bank from time to time.
I agree that the Bank shall be entitled to
presume that all instructions received by the Bank by
using my Cust id and IPIN are in order / genuine and
have been actually given by me and I shall be bound by
the same conclusively. |
| 12.19 |
Risks:
I hereby
acknowledge that I am availing the Payment Instruction
Services at my own risk. |
| 12.20 |
Misuse of Cust id and IPIN:
I acknowledge that if any third person obtains
access to my Cust id and IPIN, such third person would
be able to provide Payment Instructions / other
instructions to the Bank. I shall ensure that the Terms and Conditions applicable to the use of the
Cust id and
IPIN as contained herein are complied with at all times.
Internet Frauds:
The Internet per se
is susceptible to a number of frauds, misuse, hacking
and other actions that could affect Payment Instructions
/ other instructions to the Bank. 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 that could affect Payment
Instructions / other instructions to the Bank including
result in delay or failure in processing the
instructions. I shall separately evolve/ evaluate all
risks arising out of the same and the Bank shall not be
responsible for the same.
I understand that doing a NetBanking transaction
at a Cybercafe/shared computer terminal is risky
and I shall not use the services of a cybercafe/shared
computer terminal to do any NetBanking transactions.
Mistakes and Errors:
The filling in of applicable data for transfer of
funds and/or issue of Demand Drafts would require
proper, accurate and complete details.
For
instance, I am aware that:
I would be required
to fill in the correct account number of the person to
whom the funds are to be transferred;
I would be
required to fill in the correct Credit Card number while
making Credit Card payments;
I would be required to
fill in the correct details such as the name of the
payee (who may or may not have an account with the
Bank), mailing address, amount of the Demand Draft and
the city/state where the Demand Draft is payable.
In the event of any inaccuracy in this regard,
the funds could be transferred to incorrect accounts or
the Demand Draft maybe incorrectly issued or sent to a
wrong address and there is no guarantee of recovery of
the same thereafter. I shall therefore take all care to
ensure that there are no mistakes and errors and that
the information given by me to the Bank in this regard
is error free, accurate, proper and complete at all
points of time. I indemnify the Bank from any loss due
to an error on my part.
On the other hand in the event of my account receiving
an incorrect credit by reason of a mistake committed
by some other person, the Bank shall be entitled
to reverse the incorrect credit at any time whatsoever
without my consent. I shall be liable and responsible
to the Bank and accede to accept the Bank's instructions
without questions for any unfair or unjust gain
obtained by me as a result of the same.
Transactions:
The transactions, which
may require, the transfer of the funds or issue of
Demand Draft may not fructify or may not be completed by
the parties to whom I request the Bank to transfer the
funds or issue of Demand Draft. The Bank is not in any
manner involved in the said transactions and contracts
and my sole recourse in this regard shall be with the
party with whom I have the transactions. The Bank is
merely providing me services whereby the said funds
would be transferred on my instructions.
Technology Risks:
The technology for enabling the transfer of funds
and the other services offered by the Bank could
be affected by virus or other malicious, destructive
or corrupting code, programme or 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 instructions or failure in the processing
of instructions. I understand that the Bank disclaims
all and any liability, whether direct or indirect,
whether arising out of loss or profit or otherwise
arising out of any failure or inability by the
Bank to honour any customer instruction for whatsoever
reason. |
| 12.21 |
Limits:
I am aware
that the Bank may from time to time impose maximum and
minimum limits including daily limits on transfer of
funds that may be transferred or amount of the Demand
Draft that can be issued by virtue of the payment
instructions given hereunder. I acknowledge that the
same is to reduce the risks on me. For instance, the
Bank may impose transaction restrictions within
particular periods or amount restrictions within a
particular period or even each transaction limits. I
shall be bound by such limits imposed and shall strictly
comply with them. The Bank shall put an appropriate
message on the concerned page or the website. |
| 12.22 |
Indemnity:
I shall
indemnify the Bank from and against all losses and
damages that may be caused as a consequence of breach of
any of the Terms and Conditions mentioned herein
above. |
| 12.23 |
The Bank's sole obligation and
my sole and exclusive remedy in the event of
interruption to the NetBanking services or loss of use
and/or access to the Bank's website shall be to use all
reasonable endeavour to restore the services and/or
access as soon as reasonably possible. The Bank makes no
express or implied warranty with respect to the
NetBanking services provided hereunder including without
limitations any warranties of uninterrupted/error-free
performance of the NetBanking System, non-infringement
of third party rights, title ,merchantability,
satisfactory quality and/or fitness for a particular
purpose. |
| 12.24 |
Liability:
I
shall not be liable for any unauthorized transactions
occurring through the use of NetBanking, which can be
attributed to the fraudulent or negligent conduct of the
employees of the Bank.
If I comply with the
Terms and Conditions and advise the Bank in writing
under acknowledgment immediately after I suspect that my
Cust id and IPIN is known to another person and/or
notice an unauthorized transaction in my NetBanking
account, I shall not be liable for losses arising out of
the unauthorized transactions occurring in the
NetBanking accounts after the receipt of such advice by
the Bank.
I agree that I shall be liable for
some or all loss from unauthorized transactions in my
accounts if I have breached the Terms or contributed or
caused the loss by negligent actions such as the
following:
Keeping a written or electronic
record of Cust id and IPIN;
Disclosing or
failing to take all reasonable steps to prevent
disclosure of the NetBanking IPIN to anyone including
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 my accounts. |
| 12.25 |
Proprietory Rights:
I
acknowledge that the software and hardware underlying
the NetBanking Service as well as other Internet related
software which are required for accessing NetBanking are
the legal property of the respective Vendors/Bank. The
permission given by the Bank to access NetBanking will
not convey any proprietary or ownership rights in the
above software / hardware. I agree that I shall not
attempt to modify, translate, disassemble, decompile or
reverse engineer the software / hardware underlying
NetBanking or create any derivative product based on the
software / hardware. |
| 12.26 |
Termination of NetBanking
Service:
I may request for termination of
the NetBanking Services any time by giving a written
notice of at least 15 days to the Bank. I agree that I
will remain responsible for any transactions made on my
account(s) through NetBanking prior to the time of such
cancellation of the NetBanking Service.
The closure of all my accounts will automatically
terminate the NetBanking Service.
The Bank may suspend or
terminate NetBanking Services either wholly or partially
at any time by giving to me at least 30 days notice
under normal circumstances. |
| 12.27 |
Notices:
The Bank
and I 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 me and
in the case of the Bank to the Corporate office address
as set out hereinabove
In addition, the Bank may also publish notices
of general nature, which are applicable to all
customers of NetBanking on its web site. Such
notices will have the same effect as a notice
served individually to me. |
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13 VISA MONEY
TRANSFER | |
|
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| 13.1 |
Visa Money Transfer offers the
HDFC Bank Account Holder/ User, online funds transfer
from his Bank Account to any domestic Visa Debit
or Credit Card. |
| 13.2 |
Visa Money Transfer is
provided by HDFC Bank at my request, which request
shall mean my authorisation for debiting the Account
Holder/ User's Account towards the amount of such
transfer, together with the charges, if any. |
| 13.3 |
To effect Visa Money Transfer,
I shall provide to HDFC Bank all the information as
required under the relevant screen including: Card
number, amount, in absence of which the Bank shall not
be liable to effect the Visa Money Transfer. |
| 13.4 |
The 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. |
| 13.5 |
The Visa Money Transfer service
is not applicable for transfers to Cards not issued in
India. |
| 13.6 |
While HDFC Bank shall endeavour
to ensure that transfers are not made to any Card not
issued in India, the onus shall lie on me to ensure that
there are no FEMA or Exchange Control violations being
done by me, and I shall be held liable for liability
therein. |
| 13.7 |
HDFC Bank shall send the
transfer 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. |
| 13.8 |
While HDFC Bank shall endeavour
to effect the Visa Money Transfer instruction
at the earliest on receipt, it does not guarantee
or be held responsible for performance hereunder. |
| 13.9 |
HDFC Bank shall process all
transactions received till 12 midnight of the previous
day on the next day. |
| 13.10 |
All transactions shall be
processed only on working days. Transactions done on
Sundays and bank holidays will be processed on the next
working day. |
| 13.11 |
The Bank shall assume no
responsibility for:
- Visa Money Transfer
transactions carried out in good faith relying on my
instructions.
- Not carrying out 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 me for any failure or
interruption of Visa Money Transfer service or
consequences arising out of delayed payments. |
| 13.12 |
HDFC 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 me through email, web
site of the Bank or by written communication. |
| 13.13 |
I am 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
me. The Bank will not be responsible for
any erroneous credit, if an erroneous Card number is
provided by me. The Bank will also not be
responsible to reverse such a wrong transaction. |
| 13.14 |
HDFC Bank shall on best effort
basis send the remittance within 24 hours of the
transaction, however the Bank is not responsible for the
period within which the beneficiary Bank will credit the
proceeds to the beneficiary Card. |
| 13.15 |
HDFC Bank shall offer this
service for Savings Account and Current Account
customers. |
|
|
| |
|
|
|
|
14. INTERNATIONAL DEBIT
CARD | |
|
|
| 14.1 |
DEFINITIONS:
In this document the following words and phrases
have the meaning set opposite them unless the
context indicates otherwise: |
| 14.2 |
Account refers to the Cardholder's
Savings and / or Current Account and / or any
other type of account so designated by the Bank
to be eligible account(s) for operations through
the use of the Card. The Cardholder should be
either the account holder or sole signatory or
authorized to act alone when there is more than
one signatory. |
| 14.3 |
Bank refers to HDFC Bank
Limited, a banking company incorporated in India
under the Companies Act 1956 and having its registered
office at HDFC Bank House, Senapati Bapat Marg,
Lower Parel, Mumbai 400013, India and includes
its successors and assigns. |
| 14.4 |
Card refers to the HDFC
Bank International Debit Card. |
| 14.5 |
Cardholder refers to a
Customer of the Bank authorized to use the HDFC
Bank International Debit Card. |
| 14.6 |
EDC terminal shall mean
point of service capable of handling Card transactions
i.e. electronic draft capture (EDC) terminals,
printers, other peripherals and accessories, including
PIN pads and necessary software to run the devices
and which processes the transaction at the Merchant
Establishment. |
| 14.7 |
International transactions
refers to the transactions entered into by the
Cardholder on his internationally valid Debit
Card outside of India, Nepal and Bhutan. |
| 14.8 |
Maestro shall mean a mark
owned by MasterCard. |
| 14.9 |
MasterCard shall mean a
mark owned by MasterCard. |
| 14.10 |
MasterCard / Cirrus ATM
Network shall mean ATMs located, which honour
the Debit Card and display the MasterCard / Cirrus
or Maestro Symbols. |
| 14.11 |
Merchant means any person
who owns or manages or operates a service establishment
wherever located which honours the Card and includes
amongst others, stores, shops, restaurants, hotels,
airline organisations, ATMs advertised by the
Bank, Visa / MasterCard or the Merchant. |
| 14.12 |
Merchant Establishment
shall mean establishments wherever located which
honour a Debit Card and shall include among others,
stores, shops, restaurants, hotels, airline organisations
advertised as honouring a Debit Card. |
| 14.13 |
Primary Account shall mean
the account linked to the Card, debited for transactions
done at Merchant Establishments or Visa/PLUS and
MasterCard / Cirrus ATM locations. |
| 14.14 |
Terms refer to Terms and
Conditions for use of the Card as specified in
this document. |
| 14.15 |
Transactions mean any instruction
given by a Cardholder using a Card directly or
indirectly to the Bank to effect a transaction. |
| 14.16 |
Visa Electron/ Flag shall
mean mark owned by Visa International. |
| 14.17 |
Visa/PLUS ATM Network shall
mean ATMs located which honour the Debit Card
and displaying the Visa / PLUS or Visa Electron/
Flag Symbols. |
| 14.18 |
Applicability of Rules
and Regulations:
The issue and use of the Card shall be subject
to the RBI's regulations in force from time to
time. |
| 14.19 |
Utilization of the Card
shall be in strict accordance with the Exchange
Control Regulations of the Reserve Bank of India
(RBI). In the event of noncompliance by Cardholder
with the same, the Cardholder shall be liable
for action under the FEMA, 1999 and any other
Law and/or regulation in force from time to time
relating to Foreign Exchange. The Cardholder may
be debarred from holding the Internationally valid
Debit Card, either at the instance of the Bank
or the RBI. The Card cannot be used for making
payment towards foreign currency transactions
in Nepal and Bhutan i.e. while using the Card
in Nepal or Bhutan, the currency of the transactions
should be the local currency of those countries
or in Indian rupees. The Card is valid for use
both in India as well as outside India but would
carry the inscription "Not valid for payment in
foreign exchange in Nepal and Bhutan". In
case the Card is cancelled, whether on account
of non-compliance with Exchange Control Regulations
or otherwise, the Bank will not be responsible
for any attempted usage of the Card, whether in
India or abroad, resulting in the Card being dishonoured
and the concerned Merchant would be entitled to
"seize/confiscate" a cancelled Card on presentation. |
| 14.20 |
The Card may be used, within
the foreign exchange entitlements as stipulated
by RBI from time to time, by Cardholders going
abroad for all bonafide personal expenses for
personal use provided, the total exchange drawn
during the trip abroad does not exceed the entitlement.
Import of goods so purchased abroad into India
would be governed by the baggage rules/ EXIM policy
in force. The entitlement of exchange should be
ascertained (prior to the trip) from the authorised
dealer branches of the Bank. The Card cannot be
used for effecting remittances for which the release
of exchange is not permissible under the extant
regulations. |
| 14.21 |
Validity:
The Card is valid in India and abroad.
The Card is not valid for foreign exchange payments
in India, Nepal and Bhutan.
The Card is valid up to the last working day of
the month indicated. The Cardholder shall destroy
the Card when it expires by cutting it in half
diagonally. The Bank shall send your renewed Card
and attempt delivery of the Card at the address
recorded with the Bank in its system before the
expiry of the Card.
The Card is acceptable at any of the following:
The HDFC Bank's ATM network.
Any ATM of other Banks, which are members of PLUS/CIRRUS
ATM network in India and abroad.
Any Visa/Visa Electron /Visa Flag/ MasterCard
/ Maestro merchant outlet in India and abroad.
|
| 14.22 |
Cardholder Obligations:
The Cardholder shall at all times ensure that
the Card is kept at a safe place. The Cardholder
shall under no circumstance whatsoever allow the
Card to be used by any other individual. The Cardholder
will sign on the reverse of the Card immediately
upon receipt.
The Card is the property of HDFC Bank and must
be returned to an authorised person of the Bank
on request within the Bank's premises. The Cardholder
shall ensure that the identity of the authorised
person of the Bank is established before handing
over his Card in the Bank�s premises.
The Cardholder will be responsible for all facilities
granted by the Bank in respect of the Card and
for all related charges.
In case the Cardholder has any dispute in respect
of any charge indicated in the Statement, the
Cardholder shall advise details to the Bank within
15 days of the statement date failing which, it
will be construed that all charges are acceptable
and in order. The Bank may at its sole discretion
accept any disputes on charges older than 15 days.
The Cardholder shall act in good faith in relation
to all dealings with the Card(s) and the Bank.
|
| 14.23 |
EASY SHOP GOLD DEBIT
CARD: |
| 14.23.1 |
Cash back The Cash back
on the Gold Debit Card will be given in multiples
of amounts as decided by the Bank. The Cash back
will be given after the end of every month. |
| 14.23.2 |
Petrol surcharge reversals
The surcharge at the Petrol pumps will be levied
at the time of the transaction, and subsequently
reversed after the end of the month. |
| 14.23.3 |
Special Offers at Premium
outlets, Hotels and Restaurants All participating
brands/ establishments are independently liable/
responsible for the quality of the goods/ services
provided by them under this program. Offer valid
only if the purchase is made using the EasyShop
Gold Debit Card. Cardholder must clearly announce
intention to avail of the discounts at the participating
merchants before the bill is drawn/placing the
order. HDFC Bank reserves the right to cancel
the offer or reduce the length of the offer or
change the Terms and Conditions without prior
notice. |
| 14.24 |
EasyShop International
Business Debit Card for Partnership, Public Limited
and Private Limited Companies. |
| 14.24.1 |
I/We agree and accept
the facility provided by HDFC Bank Limited at
our request to carry out banking transactions
in the Current Account bearing number as mentioned
in our applications with HDFC Bank and as per
instructions for operation of the said account.
We are aware that the facility is to facilitate
easy withdrawal of cash at Automated Teller Machine
(ATM)/incurring of expenditure of by transactions
at Point of Sale (POS) or any other services offered
on the Debit Card through ATM/NetBanking, by use
of Debit Card by the Cardholder upto the applicable
per day Card limit. |
| 14.24.2 |
I/We shall abide by all
HDFC Bank's terms, conditions and rules in force
from time to time relating to the use of Debit
Card facility. |
| 14.24.3 |
I/We agree and accept
that the Company/the Firm and the Cardholder shall
be solely entitled to receive the Debit Card and
the Personal identification Number (PIN) to access
the ATM by use of the Debit Card and to acknowledge
the same. I/We acknowledge that the Debit Card
can also be used for purchases at Point of Sale,
without PIN. |
| 14.24.4 |
I/We agree and undertake
that the Cardholder shall keep the PIN totally
secret and confidential and not reveal the same
to any third party. |
| 14.24.5 |
I/We agree and acknowledge
that the use of the ATM/Debit Card will result
in debit to the said account and that the Company/the
Firm shall have no objection for the same. |
| 14.24.6 |
I/We agree and acknowledge
that the Company/the Firm shall be responsible
for all transactions carried on by the Cardholder
through the use of the ATM/Debit Card at the ATMs
including by withdrawal of cash and use for transactions
at various merchant locations either in India
or abroad and the same shall be binding on the
Company/the Firm. |
| 14.24.7 |
I/We shall from time to
time inform HDFC Bank by furnishing copy of the
Board Resolution/Authority letter of partners
and all other documents and writing about changes
in the operating instructions and in such event
to forthwith change the PIN. We shall indemnify
HDFC Bank at all times and keep HDFC Bank indemnified
and save harmless from and against any and all
claims, losses, damages, costs, liabilities charges
and expenses incurred, suffered or paid by HDFC
Bank and against all demands, actions, suits and
proceedings made, filed, instituted against HDFC
Bank in connection with or arising out of or relating
to HDFC Bank by carrying out the transactions
performed by the Cardholder or any substitute/s
through the Debit Card. |
| 14.24.8 |
I/We agree and confirm
that HDFC Bank shall not be responsible and liable
to monitor the nature of expenses incurred by
the use of the Debit Card. |
| 14.24.9 |
I/We agree, undertake
and confirm that the Company/the Firm shall solely
be responsible to comply with the provisions of
the Foreign Exchange Management Act, 1999 and
the regulations of the Reserve bank of India relating
to foreign exchange in force from time to time. |
| 14.24.10 |
I/We agree and acknowledge
that incase the account operating instructions
is changed to any other than ”Singly/Either
or Survivor” the card will be hotlisted
and will cease to be operational. |
| 14.25 |
LOST OR STOLEN CARDS:
I am aware and accept that to protect my interest,
the facility of reporting Loss of Debit Cards
is available 24 hours on PhoneBanking and during
Banking hours in branch and HDFC Bank will carry
out the request for Hotlisting of my/ our Card.
HDFC Bank will not be liable for any damages on
account of me not being able to use the Hotlisted
Card to carry out any transactions. The Bank shall
not be liable for any loss by the misuse of the
Card prior to the Card being reported as lost/
stolen by me
If a Card is lost or stolen I will file a report
with the local police and send a copy there after
to the Bank. In case of an unsigned Card, I will
be liable for all charges incurred on it. The
Bank will hot-list /cancel the Card within 24hrs.
of receiving such information. |
| 14.25.1 |
If the Cardholder looses
his Card overseas, he may either follow the above
procedure or may report the loss through the Visa
/ MasterCard Global Emergency Assistance help-lines.
In case the Cardholder uses the Visa / MasterCard
Global Emergency Assistance services then the
charges for usage of such services shall be borne
by the Cardholder. |
| 14.25.2 |
The Cardholder shall take
cognizance of the fact that once a Card is reported
lost, stolen or damaged and is subsequently found,
the same shall be promptly cut in half, returned
to the Bank and adequate care taken to prevent
its misuse. |
| 14.25.3 |
The Cardholder is responsible
for the security of the Card and shall take all
steps towards ensuring the safe keeping there
of. In the event ,Bank determines that the aforementioned
steps are questionable, financial liability on
the lost or stolen Card would rest with Cardholder. |
| 14.25.4 |
Replacement Card may be
issued by the Bank provided that the Cardholder
has in all respects complied with the Terms and
Conditions pertaining to the same. |
| 14.26 |
Services from Visa /
MasterCard Global Assistance:
The communications and arrangements of services
of the Emergency Assistance program are provided
by a third-party service provider and are paid
for by Visa/MasterCard International. The Cardholder
is responsible for the cost of any and all medical,
legal or other services used. Assistance is provided
on a best effort basis and may not be available
due to problems of time, distance or locations.
The medical and/or legal professionals suggested
and/or designated by VISA International are not
employees of Visa International and, therefore,
they are not responsible for the availability
use, acts, omissions, or results of any medical,
legal or transportation service. The Bank does
not accept any responsibility for the arrangement
or the use of such services. |
| 14.27 |
ATM USAGE: |
| 14.27.1 |
For all cash/cheque deposit
transactions at the ATM, the Cardholder agrees
that the ATM will produce a receipt and that no
other receipt will be issued. All cash and cheque
deposits will be subject to verification by the
Bank / Bank�s Representatives and this verified
amount will be binding on the Cardholder. The
same will be processed on the next working day. |
| 14.27.2 |
The Cardholder agrees that
requests on the ATM such as cheque book requisitions
and duplicate account statement request will be
processed normally on the next working day. |
| 14.27.3 |
The Bank may levy charges
on use of its own ATMs / ATMs of other Banks and
the Bank may from time to time change the Service
Charges. These Service Charges will be displayed
on the Bank�s Website. As and when levied, these
charges will be deducted from the Cardholder's
account linked to the Card. In the situation that
the account does not have sufficient funds to
deduct such fees, the Bank reserves to right to
deny such transactions. As such the decision of
the Bank would be binding on the Cardholder. |
| 14.27.4 |
The type of transactions
offered on other Bank�s ATMs using the Bank�s
Cards may differ from those offered on the Bank's
own network. The Bank will only support the minimum
transaction set that will be offered at the ATMs
belonging to other networks. The Bank reserves
the right to change the transaction set without
any notice to the Cardholder. |
| 14.28 |
The Card is operable with
the help of a confidential PIN at ATM locations.
The Cardholder's PIN shall be mailed/couriered
to him at the address specified by the Cardholder.
The PIN should never be disclosed to any person
or written down where any other person may discover
it. Any such disclosure or inadequate protection
of the confidentiality of the PIN is entirely
at the Cardholder's risk. All transactions conducted
with use of the PIN will be the Cardholder's responsibility
and he will abide by the record of the transaction
as generated. |
| 14.29 |
The Card is acceptable
at any Visa/MasterCard/Cashnet ATM network belonging
to institutions other than HDFC Bank in India
and abroad. The Bank will not accept responsibility
for any dealings the Cardholder may have with
the other institutions including but not limited
to such services. Should the Cardholder have any
complaints concerning any Plus/Cirrus ATM network
establishment, the matter should be resolved by
the Cardholder with the establishment and failure
to do so will not relieve him from any obligations
to the Bank. However, the Cardholder should notify
the Bank of this complaint immediately. |
| 14.30 |
There will be separate
service charges levied for any additional facilities
that will be announced by the Bank from time to
time and deducted from the Cardholder's account
linked to the Card. In the situation that the
account does not have sufficient funds to deduct
such fees, the Bank reserves to right to deny
such transactions. As such the decision of the
Bank would be binding on the Cardholder. |
| 14.31 |
The type of transactions
offered on ATMs of other Banks may differ from
those offered on the Bank's own network. The Bank
will only support the minimum transaction set
that will be offered at the ATMs belonging to
other networks. The Bank reserves the right to
change the transaction set without any notice
to the Cardholder. |
| 14.32 |
Merchant Location Usage:
The Card is acceptable at all electronic Merchant
Establishments in India and abroad which display
the Visa Electron /Flag/ Maestro/ MasterCard logo. |
| 14.32.1 |
The Card is for Electronic
use only and will be acceptable only at Merchant
Establishments, which have an EDC terminal. Any
usage of the Card other than electronic use will
be considered as Unauthorised and the Cardholder
will be solely responsible for such transactions
unless there is a specific offer by HDFC Bank
to the customer.Electronic usage is construed
as the charge slip/transaction slip printed electronically
from the EDC terminal. Visa Cards may also
be used for carrying out Ecom transaction on Verified
by Visa sites using a PIN. |
| 14.33 |
The Card is operable with
the help of the Cardholder's signature (only incase
of Card's issued with Visa Electron / Flag
/ Master Card logo) or the PIN (Maestro)
at EDC terminals installed at Merchant locations
depending on the functionality of the EDC terminal. |
| 14.34 |
Transactions are deemed
authorised and completed once the EDC terminal
generates a sales slip. The amount of the transaction
is debited from the primary account linked to
the Card immediately. The Cardholder should ensure
that the Card is used only once at the merchant
location for every purchase. The sales slip will
be printed each time the Card is used and the
Cardholder should ensure that there is no multiple
usage of Card at the Merchant location at the
time of purchase. |
| 14.35 |
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 / Maestro merchant establishment,
the matter should be resolved by the Cardholder
with the merchant establishment and failure to
do so will not relieve him from any obligations
to the Bank. However, the Cardholder should notify
the Bank of this complaint immediately. |
| 14.36 |
The Bank accepts no responsibility
for any surcharge levied by any Merchant Establishment
and debited to the Cardholder's account with the
transaction amount. However, at Railway stations
and Petrol pumps, transaction charges as per industry
practice will be applicable. |
| 14.37 |
The Cardholder must sign
a Sales Slip whenever the Card is used at a Merchant
Establishment and should retain his copy. The
Bank at an additional charge may furnish copies
of the Sales Slip. Any Sales Slip signed by the
Cardholder, and which can be proved as being authorised
by the Cardholder will be his liability. |
| 14.38 |
Any charge or other payment
requisition received from a Merchant Establishment
by the Bank for payment shall be conclusive proof
that the charge recorded on such requisition,
was properly incurred at the Merchant Establishment
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 burden of proof for which shall be on the
Cardholder. |
| 14.39 |
In case, a merchant 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
in his possession. Reversal/Refunds of debits
due to such transactions will be processed manually
& the cancelled sales slip needs to be produced
by the Cardholder, if called for. |
| 14.40 |
All Refunds and Adjustments
due to any merchant / device error or communication
link will be processed manually and the account
will be credited after due verification and in
accordance with Visa/MasterCard rules and regulations
as applicable. The Cardholder agrees that any
debits received during this time will be honoured
only based on the Available Balance in the account(s)
without considering this Refund. The Cardholder
also indemnifies the Bank from such acts of dishonouring
the payment instructions. |
| 14.41 |
The Card is not to be used
at the Hotels during Check-in and also at other
locations where paying arrangement is done before
completion of the purchase transaction or service. |
| 14.42 |
The Card should not be
used for any Mail Order / Phone Order purchases
and any such usage will be considered as Unauthorised
and the Cardholder will be solely responsible
unless there is a specific offer by HDFC Bank
to the Cardholder. |
| 14.43 |
Quality of Goods and
Services:
The Bank shall not be in any way responsible for
merchandise, warranty or services purchased or
availed of by Cardholder from Merchant Establishments
including on account of delay and delivery, non-delivery,
non-receipt of goods or receipt of defective goods
from the order placed by the Cardholder. 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, delivery or otherwise howsoever
regarding the goods or services, and any dispute
must be resolved by the Cardholder with the Merchant
Establishment. |
| 14.44 |
CARD USAGE: |
| 14.44.1 |
The Cardholder agrees that
in case he has multiple accounts with the Bank,
the Bank will decide the number of accounts, which
will have the Card facility on them. |
| 14.44.2 |
In case of Cards linked
to multiple accounts, transactions at Visa/PLUS
or MasterCard/Cirrus ATMs and Visa Electron/Maestro
Merchant Establishments will be effected on the
primary account linked to the Card. In case there
are no funds in this account, the Bank will not
honour the transactions even if there are funds
available in the other accounts linked to the
same Card. |
| 14.45 |
The Bank will debit the
accounts linked to the Card for the value of all
purchases of goods or services, cash, fees, charges
and payments effected by the use of the Card ("Transactions").
All Transactions will be reflected in the Account
Statement of the Account(s), which are linked
to the Card. Such statements shall be mailed to
the Cardholder as per defined frequency to the
mailing address as per the customers records with
the Bank. |
| 14.46 |
The Cardholder agrees that
the Bank's record of transactions pertaining to
his account(s) is conclusive and authentic. |
| 14.47 |
The annual fees will be
debited to the account linked to his Card on application/renewal
at the Bank's prevailing rate. These fees are
not refundable. |
| 14.48 |
The Cardholder is advised
to retain a record of transactions generated by
the ATM / EDC terminal at Merchant Establishments
with him. |
| 14.49 |
The Cardholder will be
allowed to withdraw through the ATM the available
balance in his account or a stipulated predefined
limit per day, whichever is lower. This per day
limit will be determined by the Bank and may be
changed at any time at the Bank's sole discretion
without notice to the Cardholder. Cardholder agrees
that cash withdrawals will be subject to tax as
applicable from time to time. |
| 14.50 |
The Cardholder agrees not
to attempt to withdraw/purchase using the Card
unless sufficient funds are available in the account.
The onus of ensuring adequate account balances
is entirely on him. Accounts that violate this
condition will be classified as overdrawn accounts
and he will have to rectify the account balance
position immediately. In every such situation
where the account gets overdrawn,interest charges
will be levied on the debit balance in the account.
This charge will be determined by the Bank and
will be announced from time to time. |
| 14.51 |
In the event of an account
being overdrawn due to Card transactions, the
Bank reserves the right to set off this amount
against any credit lying in any of the Cardholder's
other accounts held jointly or singly without
giving any notice. |
| 14.52 |
The responsibility for
any misuse on the Card, once the Card/PIN has
been delivered at the address specified by the
customer, will rest with the customer and not
the Bank. |
| 14.53 |
Nothing in these Terms
and Conditions shall affect the Bank's right of
set-off, transfer and application of monies at
law or pursuant to any other agreement from time
to time subsisting between the Bank and Cardholder. |
| 14.54 |
INTERNATIONAL TRANSACTIONS |
| 14.54.1 |
The exchange rate used
for all foreign currency transactions will be
decided by the Bank and will be binding on the
Cardholder. |
| 14.54.2 |
RESIDENTS:
As per RBI guidelines, the Cardholders need not
submit documentary evidence like invoice/bills,
etc. for the use of the Card for permitted purposes
as per the Exchange Control Regulations, if the
remittance involved is less than permissible limit
(presently USD10000) or its equivalent and prima
facie meets the Exchange Control Regulations. |
| 14.54.3 |
As per RBI guidelines,
in case the amount on account of use of the Card
during visits abroad exceeds the Cardholder's
foreign exchange entitlements, the Cardholder
should provide documentary evidence for the usage
of foreign exchange utilised. The Bank is authorised
to report the matter to the regional office of
the Exchange Control department giving full details. |
| 14.54.4 |
As per the Exchange Regulations,
for every foreign currency transaction the Cardholder
should submit (a) duly completed A2 form and (b)
his passport endorsed for the foreign currency
utilised. |
| 14.54.5 |
In case the Cardholder
is not contactable or not able to submit the same
within the reporting time as specified by RBI,
the Cardholder authorises and indemnifies the
Bank to fill in and submit the request for purchase
of foreign exchange (A2 form) on behalf of the
Cardholder. |
| 14.54.6 |
NON RESIDENTS:
The Cardholder authorises and indemnifies the
Bank to fill in and submit the request for purchase
of foreign exchange (A2 form) on behalf of the
Cardholder. |
| 14.55 |
DISPUTES:
A sales slip with the signature of the Cardholder
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 and the Bank shall not be required
to ensure that the Cardholder has duly received
the goods purchased / to be purchased or has duly
received the service availed or to be availed
to the Cardholder's satisfaction. |
| 14.56 |
The Bank shall make bonafide
and reasonable efforts to resolve an aggrieved
Cardholder's disagreement with the applicable
charge indicated in the statement within six
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. |
| 14.57 |
The Bank accepts no responsibility
for refusal by any establishment to honour the
Card. |
| 14.58 |
As per Visa/Master Card
International Operating Regulation, the complete
resolution of the dispute may take upto six months.
In case the customer wants to dispute any transaction,
the same should be informed to the Bank within
15 days from the date of the transaction. |
| 14.59 |
Exclusion of Liability:
Without prejudice to the foregoing, the Bank shall
be under no liability whatsoever to the applicant
in respect of any loss or damage arising, directly
or directly out of: |
| 14.59.1 |
Any defect in goods or
services supplied. |
| 14.59.2 |
The refusal of any person
to honour or accept a Card. |
| 14.59.3 |
The malfunction of any
computer terminal. |
| 14.59.4 |
Effecting transaction instruction
other than by a Card holder. |
| 14.59.5 |
Any statement made by any
person requesting the return of the Card or any
act performed by any person in conjunction. |
| 14.59.6 |
Handing over of the Card
by the Cardholder to anybody other than the designated
employees of the Bank at the Bank's premises. |
| 14.59.7 |
The exercise by the Bank
of its right to demand and procure the surrender
of the Card prior to the expiry date displayed
on its face, whether such demand and surrender
made and/or procured by the Bank or by any person
or computer terminal. |
| 14.59.8 |
The exercise by the Bank
of its right to terminate any Card. |
| 14.59.9 |
Any injury to the credit
character and reputation of the applicant 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. |
| 14.59.10 |
Any mis-statement, mis-representation,
error or omission in any details disclosed by
the Bank. |
| 14.59.11 |
Decline of a charge because
of excess foreign exchange entitlements as prescribed
by RBI guidelines issued from time to time, or
the Bank becoming aware of the Cardholder exceeding
his entitlements. |
| 14.59.12 |
Decline of transaction
due to any reason at a Merchant location / ATM. |
| 14.60 |
INSURANCE BENEFITS: |
| 14.60.1 |
The Cardholder specifically
acknowledges that the Bank will not be liable
in any manner whatsoever by virtue of any insurance
cover provided, and that the insurance company
will be solely liable, in case of a death of a
Cardholder and shall not hold the Bank responsible
for any matter arising out of or in connection
with such insurance cover, whether for or in respect
of any deficiency or defect in such insurance
cover, recovery or payment of compensation, processing
or settlement of claims or otherwise howsoever,
and all such matters shall be addressed to and
sorted out directly with the Insurance company. |
| 14.60.2 |
The Cardholder further
acknowledges that the insurance cover so provided
will be available to the Cardholder only as per
the terms of the relevant insurance policy in
force, and only so long as the Cardholder is and
remains a Cardholder of the Bank with his account
maintained in good standing. On the Card/account
being cancelled or withdrawn temporarily or permanently
for whatever reason, the benefit of such insurance
cover shall automatically and ipso facto cease
to be available from such date of cesser of Card/account.
Further the Cardholder also agrees that even during
continuation of his Card/account, the Bank may
at any time (after giving 30 days notice) suspend,
withdraw or cancel the benefit of such insurance
cover, and there will no binding obligation on
the Bank to continue this benefit. |
| 14.61 |
TERMINATION: |
| 14.61.1 |
The Cardholder may discontinue
this facility any time by a written notice to
the Bank accompanied by the Return of the Card
cut into two diagonally. 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 the result
of the misuse and whether or not the Bank has
been intimated of the destruction of the Card.
In case of a dispute on any transaction, Cardholder
can notify the Bank and the Bank can raise a chargeback
as per regulations of Visa/ MasterCard. |
| 14.61.2 |
The Bank shall be entitled
to discontinue this facility at any time by canceling
the Card by giving 30 days' notice and shall be
deemed to have been received by the Cardholder
within 30 days of posting to the Cardholders'
address in India, last notified in writing to
the Bank. |
| 14.61.3 |
The Bank reserves the right
to disclose customer information to any court
of competent jurisdiction, quasi judicial authorities,
law enforcement agencies and any other wing of
Central Government or State Government. |
| 14.62 |
Indemnity:
I agree to indemnify the Bank against all liabilities,
losses, damages and expenses which the Bank may
sustain or incur either directly or indirectly
as a result of : |
| 14.62.1 |
Negligence / mistake or
misconduct by me. |
| 14.62.2 |
Breach or non-compliance
of the rules/Terms and Conditions relating to
the Card and the account. |
| 14.62.3 |
Fraud or dishonesty relating
to any transaction by me or my employees/ agents. |
| 14.63 |
ATMs / EDC terminals are
machines and errors could occur while in operation.
I agree to indemnify the Bank for any such machine
/ mechanical errors/failures. |
| 14.64 |
I shall indemnify and hold
harmless the Bank from any and all consequences
arising from me not complying with The Exchange
Control Regulations of the RBI. |
| 14.65 |
TERMS: |
| 14.65.1 |
HDFC Bank reserves the
right to issue either Visa Card/MasterCard/ Maestro
Card to the customer. |
| 14.65.2 |
The Cardholder shall be
deemed to have unconditionally agreed to and accepted
these Terms and Conditions by signing the Card
application form, acknowledging the receipt of
the Card in writing, by signing the reverse of
the Card, by performing a transaction with the
Card or by requesting of activation of the Card
to the Bank/PhoneBanking or once the deliverable
has been delivered by the Bank at the address
specified by the customer. |
| 14.65.3 |
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 any such alterations through an appropriate
channel. 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. |
| 14.65.4 |
The Bank may introduce
new services from time to time. The existence
and availability of the new functions will be
notified to the Cardholder as and when they become
available, through HDFC Bank website or any mode
of communication deemed fit by the Bank. The changed
Terms and Conditions applicable to the new services
shall be communicated to the Cardholder. By using
these new services, the Cardholder agrees to be
bound by the Terms and Conditions applicable. |
| 14.65.5 |
These TERMS form the contract
between the Cardholder and the Bank. By applying
for HDFC Bank Debit Card and accessing the service
the Cardholder acknowledges and accepts these
Terms and Conditions. These Terms and Conditions
will be in addition to and not in derogation of
the Terms and Conditions relating to any account
of the customer. |
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15. EMAIL STATMENTS | |
15.1.1 |
I/We agree to discontinue the Physical Statements
being sent to me. |
| 15.1.2 |
I/We understand
that the email statements are for my/our convenience.
HDFC Bank shall not be liable or responsible for
any breach of secrecy because the statements are
being sent to the registered email ID. |
| 15.1.3 |
I/We shall
verify the authenticity of the emails I/We receive.I/We
shall not hold the Bank responsible for any statement
received from frauds/imposters.I/We shall not
hold the Bank liable if any problem arises with
my/our computer network because of me/ us receiving
statements from the Bank. |
| 15.1.4 |
I/We are authorised
by the other holders to receive the Statements
in the registered email address. |
| 15.1.5 |
I/We shall
inform the Bank in writing if there is any change
in the information given . |
| 15.1.6 |
The Bank shall
not be responsible if I/we do not receive statement
due to incorrect email address and technical reasons.
|
| 15.1.7 |
I/We confirm
to have read and understood the Terms & Conditions.
|
| 15.1.8 |
This registration
will override any "Hold Statement" facility availed
in the past |
15.2. |
Important Note |
| 15.2.1 |
The Customer
ID registered should be of the primary account
holder only. |
| 15.2.2 |
Email Statements
will not be despatched incase a secondary account
holder registers for the facility. |
| 15.2.3 |
Customers availing
of combined monthly statement facility (across
Savings, Current and Fixed Deposit accounts),
the combined statements will be discontinued and
he/she shall receive separate email statements
for only Savings and Current accounts where he/she
is the first account holder. |
| 15.2.4 |
For Current
Accounts the Customer ID of the Company should
to be registered. |
| 15.2.5 |
The facility
is applicable only for Savings and Current accounts.
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16. PASSBOOK |
|
16.1 |
The Bank shall
offer to all its Individual Savings Account Customers
(referred to in subsequent paragraph as "customers"
) passbook facility free of cost. |
| 16.2 |
Customer to get their passbook updated only from their home branch on a regular basis. Customers are expected to examine the entries as reflected in the Passbook and immediately intimate the bank of any errors or omissions. The bank would then investigate the matter and rectify the discrepancy, if required
|
| 16.3 |
Bank at its sole discretion may also, in addition to the passbook facility, decide to provide its customers with statement of accounts at monthly/quarterly or any other frequency and mail the same to the address registered with the bank.
|
| 16.4 |
Entries in the Passbook are system generated and thus, do not require any authentication /signature by a Bank official.
|
| 16.5 |
In case the customer fails to get his/her passbook updated on a regular basis and, transactions to be updated in the passbook are older than 6 months, the bank would only provide a statement of account for the said period after collecting a nominal charge.
|
| 16.6 |
The passbook only reflects the transactions details in the account and is to be used for verification of transactions. Balance as reflected in the passbook is not to be construed as a balance confirmation certificate issued by the bank.
|
| 16.7 |
Customer to ensure safe custody of the passbook and in case the pass book issued is either lost, stolen, destroyed or spoilt, customer to make an application to the bank for issuance of a duplicate passbook. The bank would issue duplicate Passbook with only the current month transactions after levying a nominal charge as specified in the Schedule of Charges.
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17. INVESTMENT SERVICES ACCOUNT |
|
17.1 |
Authorisation
I/We hereby appoint HDFC Bank Ltd. (�the Bank�)
as my/our agent to purchase and redeem units of
mutual funds (as specified in the clause 17.12
below) on my/our behalf, as may be instructed
by me/us from time to time, on the terms and conditions
mentioned herein. I/We agree that the Bank may
at its sole discretion vary the terms and conditions
or withdraw any of the facilities provided herein
from time to time.
I/We irrevocably authorise the Bank to execute my /our instructions with regards to purchase or redemption of the units.
Transaction rights will be pursuant to the customer executing and granting a mandate in favour of the bank, in the manner and form as prescribed by the bank from time to time. A mandate will be applicable to all Investment Accounts whether presently existing or to be opened in future.
|
| 17.2 |
Purchase/Sale
Transaction instructions only from Registered Customers of Investment Services Account would be processed. Registered customers can only Purchase, Redeem and Switch Mutual Fund units through this service.
There may be an Entry and/or Exit Load in Mutual Fund schemes, which are mentioned in the offer document. Please check the same before investing.
Investments from residents in the United States of America and Canada are not permitted in certain mutual funds. HDFC Bank shall not be liable for rejections of such applications by Mutual Funds, where investor is an US and Canada resident.
Purchase instructions shall be processed only after funds sufficient to cover the purchase price and other costs and charges have been received by the Bank.
If for any reasons the Bank is unable to purchase or redeem the full quantity of units such as instructed by me/us, the Bank shall be entitled at its discretion and I/We hereby irrevocably authorised the bank to purchase or sell (as the case may be) a lesser quantity of units/securities. The Bank shall not be responsible for the non execution of my/our instruction for the entire quantity or the remaining quantity.
If after execution of any transaction it is for any reason found that the Bank has not been put in sufficient funds, I/We shall pay the deficient amount to the Bank forthwith on demand failing which the bank may (but shall not be bound to) square up the transaction at any time at my/our sole risk and cost. Any loss on such squaring up will be borne by me/us solely and I/We will pay to the Bank the additional amount that may be payable by me/us, the Bank's demand being conclusive.
I/We agree and acknowledge that the facility provided herein is presently available in respect of select Mutual Funds only with whom the Bank has entered into a separate arrangement.
I/We agree and acknowledge that any instruction given or purported to be given by me/us before the cut off time as may be intimated by the Bank to me/us from time to time, would be processed on the same day. Any instructions received after the prescribed cut off time will be processed on the next working day.
I/We acknowledge that the units of the schemes shall be allotted, redeemed or switched, as the case may be, at the Net Asset Value (NAV) prevalent on the date of the application by the Mutual fund, if the application for purchase, redemption or switch is received by the Mutual Fund before the cut-off time as specified by the bank and consistent with the terms of the Scheme. However the Bank shall not be liable for any loss that may arise to me/us as a result of the incorrect NAV applied on units allotted to me/us by the Mutual Fund.
I/We acknowledge that any transaction request falling due on a holiday would be processed on the next business day and respective NAV would be applicable as per the Mutual Fund's offer document.I/We acknowledge that transactions once placed cannot be cancelled.
|
| 17.3 |
Communication of Instructions
All instructions (including instructions for modification of this clause) shall
be given only by the first holder above, on behalf of both/all of us and for these
purpose I/We the second and the third holders above irrevocably constitute the
first holder above as my/our agent. All instructions given by the first holder
above shall be binding on both/all as if given by each of us personally. I/We
agree that the instructions may be for purchase of units in the sole name of the
first holder or in the name of the first holder jointly with other persons to
the exclusion of the second or the third holder. I/We hereby authorise the Bank
to act on such instructions given from time to time.
The instructions for purchase or redemption of the units may be given through
the Bank's PhoneBanking, Netbanking, kiosk, Facsimile, Email, Written instruction,
electronically or in any other manner as may be acceptable to the Bank.
I/We agree and acknowledge that units purchased by giving instructions through
any of the above modes will be instructed for redemption through any of the above
modes only.
I/We acknowledge that after the first purchase transaction in any Mutual fund,
I/We may not be permitted to transact for a period of 4 to 7 business days till
the Folio number is allotted, depending upon the processing time of the Mutual
Fund's Registrar. The Bank does not accept any liability for delay in processing
time at the Mutual Fund's or Registrar's end.
The Bank may refuse to act on any instruction unless they are given in a manner
and form acceptable to the Bank or given orally over the telephone and in accordance
with the bank's Phone facility subject to Bank's right to verify such instructions.
However the bank shall have no responsibility to determine the authenticity of
any instruction given or purported to be given by me/us. I/We shall not hold the
Bank liable on account of bank acting in good faith on any of my/our instructions.
The Bank may at its discretion not carry out my/our instructions where the bank
has reasons to believe (which decision of the Bank I/We shall not question or
dispute) that the instructions are not genuine or are otherwise improper or unclear
or raise a doubt. The Bank shall not be liable if any instructions are not carried
out for any reasons whatsoever.
I/We clearly agree that the bank needs to receive clear instructions from me/us
to induce the bank to effect fund transfer activities on behalf of me/us. I/we
agree to indemnify the Bank against any improper/fraudulent fund transfer instruction
purported to be received from me/us. The Bank shall not be obliged to accept from
me/us any oral or facsimile instructions. In order to, however, induce the bank
to act upon communications and instructions transmitted by manual procedures (Facsimile,
Mail, messenger, Telephone call centre) I/We hereby irrevocably agree that, absent
the Bank(s) gross negligence, bad faith or willful misconduct, as long as the
Bank acts in Compliance with such authorisation / instruction, the Bank shall
be indemnified for and held free and harmless from and against any and all responsibility
for, any and all costs, claims, losses or liabilities of any nature (Direct or
Indirect) resulting from any act of omission (or any delay) in response to instructions
to the Bank to transfer or purchase, sell or otherwise dispose off commodities
or securities, together with any and all attendant costs and expenses including
the Bank(s) reasonable legal fees and expenses, collectively referred to as losses.
I/we also acknowledge that the security and the control procedures provided by
the Bank are designed to verify the source the communication and not to detect
errors in transmission or content including discrepancies between names and account
numbers and that the Bank, or any intermediary, may execute an instruction by
reference account number only, even if the name on the account is also provided.
Nothing contain herein shall require the Bank to violate any applicable laws,
rules or the procedures/Instructions. The Bank shall have no further duty to verify
the content of any instruction and communications, whether or not authorised,
sent in its name and accepted by the Bank. The Bank will process the transaction
instruction as it is received and will not validate the same for holdings, correctness
of transaction and any other information
|
| 17.4 |
Statement of account
I/We agree and acknowledge that the Asset Management Company (Mutual Fund) shall
regularly send to me/us (only to first holder) communications like Account Statements,
fund updates etc.
|
| 17.5 |
Charges and fees
All sales and purchases and all other acts done by the Bank for me/us pursuant
to these terms and conditions shall be at my/our risk and cost and in consideration
thereof, I/We agree to pay charges/fees as per the Bank's schedule of charges/fees.
The schedule of charges is subject to change without prior notice and consent
to such changes, which may be made in Future. I/We agree and understand that
the Bank'charges/ fees are in addition to those levied by the mutual fund Company.
The charges/fees shall be paid by me/us to the Bank on my/our giving instructions
to the Bank. All fees, charges and reimbursement of expenditure shall be paid
or made in full by me/us without any counter claim, set off or withholding.
All our liabilities and obligations hereunder to the Bank shall be joint or
several.
|
| 17.6 |
Rights of Lien and set off
The Bank will have charge and right of Lien and set off on all my/our securities
/units in its possession or custody and all monies standing to my /our credit
with or in any account in any branch of the bank (whether in my sole name or
jointly with any other or others) for all sums due or payable by me/us to the
Bank hereunder. In the event of default on my/our part in discharging my /our
obligations to the Bank hereunder, the Bank shall be entitled to enforce the
charge by sale of such units/securities and to appropriate the net proceeds
or any credit balance aforesaid in Liquidations of my/our liabilities to the
Bank.
|
| 17.7 |
Third Party Risk.
The Bank shall not be liable for any loss or damage caused by reason of failure
or delay of mutual fund to deliver any units purchased even though payment have
been made for the same or failure or delay in making payment in respect of any
sold though they may have been Delivered and we shall save the Bank harmless
and free from any claim in respect thereof. The Bank shall also not be liable
for any delay, failure or refusal of the mutual fund/any company/corporation
or other body in registering or transferring units to my/our names of for any
interest, dividend or other loss caused to me/us arising therefrom.
|
| 17.8 |
Liability of the Bank
The Bank shall not in the absence of gross negligence on the Bank's part, be
liable to me/us for any act, omission or delay by the mutual fund or for any
claims which I/We may suffer or incur as a result of or in course or discharge
by the Bank of its nominees, agents, officers or subcustodian of the Bank's
duties.
Without prejudice to what is stated above, the Bank shall not be held liable
for of by reason of any loss or damage or failure to comply or delay in complying
with its obligations under these terms and conditions which is caused directly
or indirectly by any event or circumstances beyond the Bank's reasonable control.
These include system failures, network errors, delay or loss of data due to
the above and in circumstances of acts of God, floods, epidemics, quarantine,
riot or civil commotion and war.
I/We further agree to indemnify HDFC Bank for any loss that may arise as a result
of system failure, accident or any of the reasons mentioned above.
The Bank shall not be liable for and I/We shall indemnify the Bank for any Losses,
damages, expenses, costs, liabilities and claims of whatsoever nature caused
by fraudulent or unauthorised use of my/our signatures and /or unauthorised
use of my /our Telephone Personal Identification Number.
The Bank will not be liable for any error or inaccuracies for any of the publicly
available information that may be provided to me/us by the Bank.
The Bank shall be under no duty to verify compliance with any restrictions on
my/our investment powers.
The Bank will not be liable for any loss, damage, cost, charges or expenses
directly or indirectly caused by reasons of any defects or imperfections or
mechanical or other failure with relation to computer, cable, telex, telephone
or postal system.
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| 17.9 |
Power of the Bank.
I/We hereby authorise the Bank to exercise the following powers on my/our behalf
at such time in such manner as it may in its discretion think fit for the purpose
of performing its powers, duties and responsibilities set out hereunder.
- To do or omit to do all such and things as the Bank may in its descretion
consider to be necessary or desirable in order to perform its duties hereunder
or to comply with any laws, orders, rules, regulations or directions of any
Government or regulatory or other authorities.
- Appoint on my/our behalf any agents /nominees/sub-custodian or any other
person for doing any acts or deeds hereunder including the keeping of Debentures
in safe custody.
- Generally to employ agents/attorneys, brokers dealers and managers on my/our
behalf.
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| 17.10 |
Role of the Bank
I/We expressly agree and acknowledge that any information contained in the Bank's
Brochures or other materials or otherwise communicated by the Bank shall not
be constructed by me/us as investment and that all decisions to purchase or
sell units/securities made by me/us shall be on the basis of my/our own personal
judgment arrived at after due consideration. I/We understand and agree that
the Bank does not in any manner:
- Provide any Buy /sell or other recommendations; or
- Guarantee payments on any units; or
- Guarantee of liquidity of any units; or
- Make any offer to buy back any units; or
- Guarantee the redemption or repayment of any units on maturity; or
- Guarantee the payments of interest or dividend; or
- Promise, indicate or guarantee any returns; or
- Guarantee any good delivery.
If notwithstanding anything stated herein the Bank or any employee of the Bank
gives any advice or representation to me/us, the bank shall have no liability
for any such advice or representation made, as it will be my/our responsibility
to make an independent assessment.
I /we understand that any sum invested through the Bank Investment Services
Account is not a deposit with the Bank and is not bank insured. The same is
not endorsed or guaranteed and does not constitute obligations of the Bank or
any of the subsidiaries associated or affiliated companies whose role in only
as described in these terms and conditions. The securities purchased are subject
to investment risks, including the possible loss of principal amount invested.
The value of my units/securities will fluctuate. If I/We redeem my units/shares,
I/We may receive more or less than I/we paid depending upon market value of
the securities in the fund or trust at the time of redemption. Past results
are not a guarantee to future performance. Yield or performance fluctuates and
reflects past results. Yield or funds past performance should not be considered
as an indication or guarantee of future yields or results.
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| 17.11 |
Correspondence
Any notice or other correspondence addressed by the Bank to me/us may be addressed
to the first holder above at the address given by me/us above or to such address
as the bank may be aware. If according to me/us there is any discrepancy in
the particulars or details of any transaction or account of statement then i/we
shall be obliged to intimate the same to the Bank in writing in 10 days of the
first holder receiving notice thereof, failing which such transaction, statement
or account (as the case may be) shall be deemed to be correct and accepted by
me/us and I/We shall not be entitled to question the correctness or accuracy
thereof.
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| 17.12 |
Authority
to the Bank
I/we authorise the Bank to do, perform or execute upon my/our express instructions
and at my/our risk and cost, all or any of the following acts, deeds, matters
and things:
- To subscribe to the units of the mutual fund & securities on my /our
behalf and to pay to the units/securities so purchased, on my/our instructions.
- To receive the account statement pertaining to the above units/securities
and to acknowledge receipt of the same.
- To redeem /sell the units/securities held by me/us (whether solely or jointly
with others) and to receive the payment of the redemption/sale price and acknowledge
receipt of the same, based on my/our instructions.
- To sign all such writings and do all such acts as may be required for redeeming
any units/securities.
- To collect, receive and give good effectual receipts and discharges for any
sum including dividend, interest or income arising from the units/securities
and to sign and endorse dividend and interest warrants.
- To collect and deposit monies in an account opened in my/our name with the
Bank and to make such debits in the said account as may be necessary.
- To give instructions and orders to brokers and agents including instructions
and orders of sale, purchase ,transfer, splitting and consolidation of securities
and to pay remuneration, brokerage, commissions and other sums to such brokers
and agents.
- To correspond with and give notice to the mutual fund and corresponding asset
management company on my/our behalf.
- To instruct the mutual fund and/or the corresponding asset management company
to make note of instructions with regards to nomination /changes in investment
plan/any other changes.
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| 17.13 |
Holding Pattern and Customer details
The holding pattern of the customer would be based on the bank account holding
pattern. Also there would be no change allowed in the holding pattern once the
ISA account is activated even if there is a change in the holding pattern in
the bank account.
The other requisite data (which is not part of the form) required to be reported
to AMC / RTA will be extracted from the Bank account details maintained for
the First holder.
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| 17.14 |
Termination
The Bank or myself/ourselves may terminate the aforesaid services by giving
30 days prior notice in writing to the other party provided that I/we shall
not be relieved of my/our obligations hereunder notwithstanding such termination
incurred prior to the date on which such termination shall become effective.
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| 17.15 |
Governing
Law and Jurisdiction Clause
All disputes and differences arising out of, under or in connection with these
terms and conditions or anything done hereunder shall be within the exclusive
jurisdiction only to the courts of Mumbai. Further these terms and conditions
are subject to and shall be construed in accordance with the laws prevalent
in India.
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18. AVERAGE QUARTERLY BALANCE (AQB)
CALCULATION |
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| 18.1 |
Average Quarterly
Balance is the average balance to be maintained
in the account over a period of a quarter. |
| 18.2 |
The Average
Quarterly Balance is different for different types
of accounts. Detail of the AQB for different accounts
is given in the Services and Fees brochure and
also updated on the Bank's website. |
| 18.3 |
The Mode of
Calculation of AQB: It is average of daily closing
balance of each day spread over a period of three
months. For more detailed explanation, please
refer to the example below
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| Sample statement
to illustrate example |
Sr.
No. |
Date |
Narrarion |
Withdrawal |
Deposit |
Closing balance |
1 |
01-Jan-07
|
Credit interest capilized |
|
50
|
4,000
|
2 |
10-Jan-07
|
ECS Credit-PKT |
|
10,000
|
14,000
|
3 |
16-Jan-07
|
Cash Withdrawal |
2,000
|
|
12,000
|
4 |
25-Jan-07
|
Cheque Deposit- MICR clearing |
|
13,000
|
25,000
|
5 |
05-Feb-07
|
Broadway automobile POS 43860000000012 |
1,000 |
|
24,000
|
6 |
19-Feb-07
|
Cash Deposit Mumbai |
|
9,000
|
33,000
|
7 |
26-Feb-07
|
Funds Transfer |
29,000
|
|
4,000
|
8 |
02-Mar-07
|
Cheque paid-MICR inward clearing |
1,500
|
|
2,500
|
9 |
15-Mar-07
|
Cheque Deposit- MICR clearing |
|
25,000
|
27,500
|
10 |
31-Mar-07
|
Cash Withdrawal |
2,000
|
|
25,500
|
|
| |
| AQB Calculation |
Sr.
No. |
Time Period |
Calculation |
Amount(Rs) |
1 |
EOD Balance from 01-Jan-07 to 9-Jan-07 |
4,000 x 9 |
36,000 |
2 |
EOD Balance from 10-Jan-07 to 15-Jan-07
|
14,000 x 6 |
84,000 |
3 |
EOD Balance from 16-Jan-07 to 24-Jan-07 |
12,000 x 9 |
1,08,000 |
4 |
EOD Balance from 25-Jan-07 to 04-Feb-07 |
25,000 x 11 |
2,75,000 |
5 |
EOD Balance from 05-Feb-07 to 18-Feb-07
|
24,000 x 14 |
3,36,000 |
6 |
EOD Balance from 19-Feb-07 to 25-Feb-07
|
33,000 x 7 |
2,31,000 |
7 |
EOD Balance from 26-Feb-07 to 01-Mar-07 |
4,000 x 4 |
16,000 |
8 |
EOD Balance from 02-Mar-07 to 14-Mar-07 |
2,500 x 13 |
32,500 |
9 |
EOD Balance from 15-Mar-07 to 30-Mar-07 |
27,500 x 16 |
4,40,000 |
10 |
EOD Balance on 31-Mar-07 |
25,500 x 1 |
25,500 |
|
Total EOD balances for the quarter
Jan-Mar-07 |
|
15,84,000 |
|
Divide by the no. of days in
the quarter |
|
90 |
|
Average Quarterly Balance (AQB) |
|
17,600 |
|
| |
|
|
|
|
|
19. DOORSTEP BANKING SERVICES |
|
These "Terms and Conditions" apply to and regulate
the provision of services to be offered by HDFC
Bank Limited ("HDFC Bank") for cash/cheque pick
up and delivery of cash ("Services").
|
| 19.1 |
In these terms
and conditions, the following words and phrases
have the meaning stated hereunder unless indicated
otherwise:
- "Account" refers to the savings / current
/ operative account of the Account holder
with HDFC Bank in India, which is designated
as eligible account by HDFC Bank for the "Services".
- "Customer" refers to an individual / entity
having an account with HDFC Bank and requesting
for availing the Services for which request
has been accepted by HDFC Bank.
- "HDFC Bank" refers to HDFC Bank Limited,
a company incorporated under the Companies
Act, 1956 and licensed as a bank under the
Banking Regulation Act, 1949 and having its
registered office at HDFC Bank, Bank House,
Senapati Bapat Marg, Lower Parel, Mumbai -
400013.
- "Instruction" refers to the requests made
by the Customer for availing the services
from HDFC Bank.
- "Services" shall mean the cash / Instrument
pick up and delivery of cash, as per the "Process
Guidelines" attached.
|
| 19.2 |
The Bank has
appointed independent agencies (“Agencies”)
to carry out the Services. The Customer agrees
and undertakes to pay to HDFC Bank such charges
as may be notified to the Customer by HDFC Bank
for organizing the Services. The Customer further
agrees and confirms that the acknowledgement to
be furnished by the Customer on the courier sheet
would be a final and binding acknowledgement and
confirmation of receipt of cash by the Customer.
|
| 19.3 |
The Customer
agrees and undertakes to duly comply with its
obligations in terms of the Process Guidelines
as detailed in letter of acceptance sent to HDFC
Bank, and to duly remit the payments for the Services
as detailed in letter of acceptance. |
| 19.4 |
The limit for
cash pick up / delivery shall be determined at
the sole discretion of HDFC Bank and the bank
will have the right to change the limit from time
to time without assigning any reason thereof.
Customer shall be solely responsible and liable
for complying with all applicable laws and regulations
relating to the Services and shall keep and continue
to keep HDFC Bank fully absolved and indemnified
with respect to any violation or failure to adhere
to any such laws and regulations. HDFC Bank at
its sole discretion and without assigning any
reasons, reserves its right to offer and or withdraw
the Services either in partially or completely.
|
| 19.5 |
The Customer
confirms that the cash/cheques deposited/withdrawn
from time to time is lawfully collected/required
or is in the Customer�s possession or custody
through or in the course of the Customer�s regular
and usual business and agrees to keep HDFC Bank,
its successors and assigns indemnified at all
times from and against all the claims, losses,
damages, costs, liabilities, actions, suits,
proceedings and other consequences including but
not limited to non compliance of regulatory
provisions, evasion or non payment of any taxes or
other statutory dues or by reason of HDFC Bank
arranging for providing of the Services. |
| 19.6 |
HDFC Bank shall
not be liable for any inaccuracy, error or delay
in, or omission of, any loss or damage arising
from or occasioned by (i) any such inaccuracy,
error, delay or omission, (ii) non-performance
due either to any act or omission by HDFC Bank
due to “force majeure” (e.g., flood,
extraordinary weather condition, earthquake or
other act of God, fire, war, insurrection, riot,
labour dispute, accident, action of government,
communications, power failure, equipment or software
malfunction) or any other cause beyond the reasonable
control of HDFC Bank, and in case of tampering
and unauthorised access to providing of Instruction,
Instructions that are fraudulently or mistakenly
written, altered or sent, and that the Instruction
may not be received in whole or in part by the
intended recipient. |
| 19.7 |
The Customer
hereby authorizes HDFC Bank to charge the account
held with HDFC Bank with any sum of money that
is payable by the Customer, if any, in connection
with a transaction carried out by HDFC Bank including
bank charges for such transactions and the shortages
if any, notwithstanding any other requirement
contained in any law and practice including but
not limited to Negotiable Instrument Act, 1881.
|
| 19.8 |
The Customer
hereby indemnifies and agrees to keep HDFC Bank
indemnified against all and any costs, losses,
damages, expenses (including all legal expenses
on a full indemnity basis) or other liability
sustained or incurred by HDFC Bank as a result
of HDFC Bank accepting and acting on an Instruction
given or deemed to have been given or purportedly
given by the customer, including but not limited
to the Customer handing over self/ bearer cheques
to the agency appointed by HDFC Bank in lieu of
the cash delivered to the Customer premises without
ensuring that the "Paid" stamp of the cash delivery
agency is affixed on the cheque in the Customer's
presence. |
| 19.9 |
Under no circumstances,
shall HDFC Bank, its employees, directors involved
in creating, producing, delivering or managing
the cash/cheque collection and delivery services
be liable for any direct, indirect, incidental,
special or consequential damages, or any damages
whatsoever, including punitive or exemplary (including,
but not limited to loss of profits, loss of data
or other intangible information, business interruption,
loss of privacy, or any pecuniary loss), arising
out of or in any way connected with the provision
of cash/cheque pick-up and delivery services or
resulting from unauthorized access or alteration
of Facsimile Instruction or arising from interruption,
suspension or termination of the cash/cheque collection
and delivery services or any inability of HDFC
Bank to receive instructions, directions, orders
or other communications from the Customer or to
transmit any related message for any reason whatsoever,
whether based on contract, tort, strict liability
or otherwise except in case of willful default
or gross negligence on the part of HDFC Bank. |
| 19.10 |
The Customer
agrees to comply with such security procedure
as may be prescribed by HDFC Bank from time to
time for purpose of sending Instructions. The
customer will be solely responsible for any consequences
in case there are any lapses in the adherence
of the laid down processes.
- The Customer undertakes not to disclose
the security procedure to any person except
to the Customer's authorised representatives.
- If the Customer or one of the Customer's
authorised representatives is of the opinion
or has reason to believe that the authentication
procedure may be known by an unauthorised
person, the Customer must notify HDFC Bank
immediately.
- For cheque pick up; only account payee
cheques will be handed over to the agency
|
| 19.11 |
All disputes
if any will be subject only to the exclusive jurisdiction
of the competent courts at Mumbai irrespective
of the location where the services are offered.
|
| 19.12 |
The above
terms and conditions are in addition to the HDFC
Bank's standard terms and conditions applicable
to HDFC Bank accounts. In case of any inconsistency
between the terms and conditions governing the
Service and the standard terms and conditions
applicable to HDFC Bank accounts this document
shall prevail in relation to any transaction initiated
under the Services. |
| 19.13 |
The Bank will
be responsible for the acts of omission and commission
of the Agencies. However, this agreement does
not entail any legal or financial liability on
the bank for failure to offer doorstep services
under circumstances beyond its control. |
| 19.14 |
Customer shall
execute a fax indemnity indemnifying HDFC Bank
in respect of facsimile instructions sent. |
| 19.15 |
At anytime,
HDFC Bank may give 3 days prior notice to the
Customer, in such manner as it may deem fit, that
it shall not accept further Instructions and that
notice shall be deemed to be effective against
the Customer on receipt of the same. A Customer
will be deemed to have received the same immediately
in case HDFC Bank sends the notice through facsimile
or after two (2) days in case the notice is sent
by post/courier. |
| 19.16 |
The Bank reserves
the right to appoint any other Agency to provide
the services to the customer, and change the branch
(Nodal Branch) for deposit of cash, and / or revise
the timings for cash pickup / delivery from time
to time. |
| 19.17 |
At anytime,
HDFC Bank may give 30 days prior notice to the
Customer, in such manner as it may deem fit, for
any changes in the tariffs / service charges related
to the services defined in this document. A Customer
will be deemed to have received the same immediately
in case HDFC Bank sends the notice through facsimile
or after two (2) days in case the notice is sent
by post/courier. |
| 19.18 |
These "Services"
are a mere extension of Banking Services offered
at the branch & are being provided at the sole
discretion of HDFC Bank & does not provide any
right to the customer to claim the services at
his doorstep. |
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