Online Savings Account

Terms and Condition

ATM/ Debit Card

ATM/Debit Card

  1. If The Customer has applied for the issue of a ATM/Debit Card(s) linked to the Account, and the terms and conditions appearing in this section apply to all transactions involving use of the ATM/Debit Card. Terms and Conditions with regard to the Account, not repugnant to these terms and conditions, shall continue to apply and shall not be, in any way, over-ridden, annulled, amended, modified or substituted by the terms and conditions. The Customer understands and agrees that the availment and use of the ATM/Debit Card Facility will be deemed acceptance of relevant and applicable terms and conditions and the Customer agrees to be unconditionally bound by the same.
  2. Definitions:
    Capitalised terms used in this Section but not defined hereunder shall have the same meanings as assigned to them under the Terms and Conditions generally applicable to the Account. In this Section unless the context otherwise requires:
    • Account Transactions” shall mean any or all of the following transactions on the Account performed by using the ATM/Debit Card:
      1. withdrawal of cash from an ATM/microATM;
      2. obtaining Account information from an ATM/ microATM;
      3. changing of the ATM Code using an ATM/ microATM;
      4. deposit of cash / cheques or other financial instruments through a Device; and transactions at Merchant Establishments subject to available funds in the Account using EDC(s) or online.
    • PIN” means the confidential personal identification number, allocated to each Holder of a ATM/Debit Card by the Bank or, as subsequently chosen by the Holder of the ATM/Debit Card from time to time, in relation to each ATM/Debit Card.
    • Device(s)” shall mean any and all of the following devices:
      1. ATM;
      2. microATM;
      3. CASST;
      4. Depository;
      5. EDC;
      6. POS; and
      7. Any other devices (whether of the Bank or shared networks of other banks and institutions) as are subsequently intimated to the Customer as being able to support Account Transactions.
    • EDC” means any electronic data capture terminal, whether of the Bank or a shared network, at which, amongst other things, the Customer can use the ATM/Debit Card to access funds in the Account.
    • Holder” shall mean the Holder, for the time being, of the ATM/Debit Card, being the Customer or a person duly authorized in this behalf by the Customer and acceptable to the Bank.
    • Merchant Establishment” shall mean establishments which honour ATM/Debit Cards issued by the Bank and may include among others, stores, shops, restaurants, hotels, airline organizations and mail order advertisers (whether retailers, distributors or manufacturers), e-Commerce sites.
    • POS” means Point of Sale terminals whether in India or overseas, whether of the Bank or a shared network, at which, amongst other things, the Customer can utilise the ATM/Debit Card to access funds in the Account.
  3. Issue of ATM/Debit Card to Holder(s):
    • On the request of the Customer and subject to the these terms and conditions and all of the Terms and Conditions applicable to the Account, the Bank shall, at its sole discretion, issue to each Holder, an ATM/Debit Card. The ATM/Debit Card is not transferable. The Holder may use the ATM/Debit Card to carry out Account Transactions at any Device.
    • To enable such use, a Personal Identification Number (PIN) will be issued to each Holder. The Holder may choose to generate his/her own PIN. This PIN shall be pre-encoded on the ATM/Debit Card prior to its delivery to the Customer. The PIN may subsequently be changed by the Holder,
    • Customers who do want ATM/Debit Card will not have access to the channels for which ATM/Debit Card details (including PIN) are required.
    • Customers who wish to activate their ATM/Debit Cards for international use accept that the Bank has enabled their cards upon their specific request. International usage of ATM/Debit Card may lead to levy of charges by the Bank and / or the service providers, the Bank shall not be held responsible for any international usage and charges linked to the same.
  4. Securing the PIN:
    • The security of the PIN is paramount and the Holder needs to keep it confidential and not reveal it to any third party. It is recommended that the Holder memorizes the PIN and then destroys all record of it. The Holder also needs to ensure that the Device is covered to prevent anyone from seeing the PIN that is being entered. Further, the Holder will ensure that he/she:
      1. does not disclose the PIN to any person, under any circumstances whatsoever and shall prevent anyone seeing the PIN being entered into any device and shall take all possible care to prevent its discovery by any person;
      2. shall not write or indicate the PIN on the ATM/Debit Card or keep a record of the PIN in any manner;
      3. shall not retain any physical noting of the PIN in any manner such that any person is able to access the same;
      4. shall observe all precautions as indicated on the cover/letter/ envelope within which the PIN is delivered.
    • Neither the Customer nor the Holder shall hold the Bank liable in case of fraudulent/unauthorized use of the PIN through the ATM/Debit Card being misused and / or falling in the hands of any third-party or through the PIN being misused and/ or coming to the knowledge of any third-party. The Customer shall be solely liable for any losses, damages, costs, charges or expenses including those that may be incurred / suffered by the Bank as a result of such misuse and/or fraudulent/unauthorized use of the ATM/Debit Card and/or the PIN. If Holder fails to observe these security requirements and allows compromise of the PIN, he/she shall be responsible and liable for any consequences arising there from.
  5. Cancellation of ATM/Debit Card: The use of the ATM/Debit Card shall automatically stand terminated in case the Account is closed permanently or is temporarily non-operational or services in the Account are withdrawn permanently or temporarily for any reason whatsoever. Without prejudice to the Bank’s right to cancel, suspend or terminate the use of ATM/Debit Card at its own discretion, the Customer may voluntarily request the Bank to cancel the ATM/Debit Card by blocking the ATM/Debit Card, cutting the ATM/Debit Card in half and returning the same to the Bank for cancellation. Upon receipt of advice/instructions from the Holder, the Bank shall cancel the ATM/Debit Card and PIN. After cancellation, the ATM/Debit Card and PIN should not be used again even if subsequently found.
  6. Lost or Stolen ATM/Debit Card or Disclosed PIN: The Holder shall inform the Bank as soon as the Holder has reason to apprehend that the ATM/Debit Card has been or may be misused, lost or stolen or that the PIN has become known to anyone. The Bank will not be liable for any loss by the misuse of the Card prior to the Card being reported as lost/stolen by the Holder unless the Holder is deemed eligible by the Bank for the “Lost Card liability” cover based on the terms and conditions published on the Bank’s website from time to time. Upon receipt of advice/instructions from the Holder or the Customer, the Bank shall cancel the ATM/Debit Card and PIN. After cancellation, the ATM/Debit Card and PIN should not be used again even if subsequently found. Provided that, in case of misuse, loss or theft of the ATM/Debit Card or disclosure of the PIN to / access to the ATM/Debit Card and / or PIN by any person, the Customer / Holder must immediately inform the Bank and also file an FIR and send a copy thereafter to the Bank. The Customer shall be liable for all charges incurred on the said ATM/Debit Card / PIN, till the ATM/Debit Card / PIN is reported lost to the Bank by the Customer and usage on the same is suspended as a result of such reporting. The Bank may, without referring or issuing notice to the Customer/Holder, give the police or other relevant authorities any information about the loss or theft of the ATM/Debit Card / PIN. Further a copy of the written confirmation of the misuse, loss or theft of the ATM/Debit Card or disclosure of the PIN to / access to the PIN by any third-party along with a copy of the police report shall be submitted to the Bank. The Bank shall not be liable for any misuse of the ATM/Debit Card and/or PIN under any circumstances and/or at any time, whatsoever. Any replacement ATM/Debit Card and PIN subsequently issued by the Bank, at application therefore by the Customer, shall be governed by these terms and conditions.
  7. Use of ATM/Debit Card and Liability for Misuse:
    • All Holder(s) and the Customer, jointly and severally, accept and agree that, at the request and risk of the Customer, the Bank has agreed to provide the Holder(s) the facility of executing Account Transactions by using the ATM/Debit Card. However, the use of ATM/Debit Card is subject to the holding of appropriate credit balance in the Account.
    • The facility of cash withdrawal through the ATM/Debit Card is made available by the Bank on a best effort basis and the Customer agrees that he will not hold the Bank responsible or liable in any manner for any consequences whatsoever in case of inability of the Customer to withdraw cash at an ATM on account of malfunction of the ATM or inadequate cash balance at the ATM or closure of an ATM site or otherwise howsoever.
    • The Customer hereby irrevocably authorizes the Bank to process any and all Account Transactions whether the same have been performed bonafide or otherwise and by the Holder or by any joint Holder of the Account or any other party whosoever. The Customer undertakes to comply with all applicable laws/ procedures while availing of / utilizing the ATM/Debit Card.
    • The Customer accepts full responsibility and liability in all circumstances for Account Transactions performed on any Device through the ATM/Debit Card whether or not such an Account Transaction is processed with the knowledge of the Customer. Any instruction given through utilization / in respect of the ATM/Debit Card shall be irrevocable. The Customer hereby authorizes the Bank to debit the Account with the amount of any withdrawal or transfer or carry out any such instructions that may be received by the use of any ATM/Debit Card in accordance with the Bank’s record of transactions, which the Customer agrees to accept as final and conclusive.
    • The Customer understands, agrees and undertake that:
      1. The Customer shall not hold the Bank liable for acting on and pursuant to Account Transactions with the ATM/Debit Card.
      2. The Bank shall, in its sole discretion, without assigning any reason whatsoever, be entitled to withdraw, discontinue, cancel, suspend or terminate the facility to use the ATM/Debit Card and/or services related to it and shall not be liable for any loss or damage suffered or claimed by the Customer resulting in any way from such action. Such action may be immediate and without prior notice should the circumstances, in the view of the Bank, warrant the same.
      3. Without prejudice to the Bank’s inability to monitor the use of, or the nature of Account Transactions performed on the ATM/Debit Card, the Bank may, at its sole discretion but without any obligation, liability or responsibility in this regard, decide not to carry out any such instructions where the Bank has reason to believe that the instructions are not genuine or are such as to raise a doubt or are otherwise improper and cannot be put into effect for any reasons whatsoever.
      4. The Bank may, at its sole discretion, video tape or record on camera the Customer’s access/presence/ use of the Bank’s facilities at premises/machines/ equipment of the Bank and/or any shared network and the Customer understands and accepts that the Bank may rely on footage of such clipping as evidence in any proceedings.
      5. Account Transactions initiated by the Customer will be completed only if the funds are clear and sufficient to meet the transaction amount in full including any applicable charges/fees, etc. The amount of each completed transaction will be immediately debited from the Account.
      6. If any instruction given by the Customer is capable of being executed by the Bank in more ways than one, the Bank may execute such instruction in any one of such ways, at its sole discretion.
      7. The Bank shall not be liable for any failure to provide the facility of ATM/Debit Card for any reason whatsoever including, but not limited to, on account of any electronic or other systems or systems related failure, disruption, force majeure or other circumstance outside the control of the Bank.
      8. The Holder shall ensure that all Account Transactions initiated by the ATM/Debit Card are properly terminated so as not to allow any other person to transact on the Account;
      9. The Holder(s) and the Customer shall be, jointly and severally, responsible to intimate the Bank, in the manner prescribed in the terms and conditions, if the ATM/Debit Card and/or the PIN has/have been or is/are likely to be fraudulently used, or misused.
      10. The Customer specifically agrees, acknowledges and understands that any offers (schemes, gifts, discounts, etc.) of any nature whatsoever are subject to the terms and conditions of that specific offer.
      11. The Customer further agrees and acknowledges that the Bank shall not, in any manner, be held liable or responsible for any loss, damage or injury whatsoever suffered by the Customer/ Holder, directly or indirectly, by use or non-use of products/ services under the offer. Without prejudice to the foregoing, an offer may be terminated/withdrawn/amended by the Bank without any prior notice. The Bank shall not be under any obligation to continue the offer after the offer termination date as notified by the Merchant Establishment or as subsequently changed by the Bank, as the case may be. Further, the Bank reserves the right, at any time during an offer, with prior notice, to add/alter/change/modify the terms and conditions of an offer or to replace, wholly or in part, an offer with another offer, similar or otherwise.
      12. The Bank shall send alerts for all successful ATM / Debit cCard transactions, irrespective of the amount, on the mobile number of the Customer /Holder registered with the Bank. The alerts will not be sent for any unsuccessful / declined transaction.
  8. Limitation on Use
    The Bank reserves the right to limit the minimum and / or maximum aggregate amount of the Account Transactions per day and such limits being further subject to availability of clear funds in the Account. The Customer acknowledges and understands that daily minimum and / or maximum transaction limits apply to all Devices (within India and outside India) and may vary between different Devices belonging to different shared networks. The Holder will also be allowed to set his/her own limits upto the overall maximum limits set by the Bank. The Bank shall not be liable or responsible for any loss or inconvenience the Customer may suffer due to lack of uniformity in these limits for transactions through different ATMs/microATMs/networks.
  9. Reward Scheme
    The Bank may offer the Customer various Reward Schemes on the usage of a ATM/Debit Card. The Customer understands and acknowledges that specific terms and conditions will apply to any such Reward Scheme as may be determined by the Bank in its sole discretion and as may be notified to the Customer. The Bank shall have the final discretion in choosing merchants and/or products where the Customer may earn Reward Points using the ATM/Debit Card.
  10. Processing and Conversion Fee or Charges
    • Use of the ATM/Debit Card at any Device may entail a service charge and/or transaction fee and or processing and/ or conversion fee and an annual fee being levied on the Account, as may be prescribed by the Bank from time to time. Any charges/fees/conversions charges levied for transactions on the ATM/Debit Card shall be debited to the Account and the Customer shall be solely liable for payment of the same. Any change in such charges/fees would be intimated through Bank’s Website from time to time.
    • Any government charges, duty or debits or tax payable as a result of the use of the ATM/Debit Card shall be the responsibility and liability of the Customer. The Customer hereby authorizes the Bank to debit such charge, duty or tax against the Account if the same is imposed upon the Bank (either directly or indirectly).
  11. Maintenance
    While advance notice of maintenance work likely to affect the usage of the ATM/Debit Card may be given on a best efforts basis, the Bank reserves the right to suspend access to any Device or the provision of all or any of the services relating to the ATM/Debit Card, at any time, if the Bank deems it necessary to do so.
  12. Replacement of ATM/Debit Card
    The Bank may, in its sole discretion, at the request of the Customer, issue a replacement ATM/Debit Card with a new PIN for any lost or stolen ATM/Debit Card or a new or same PIN on such terms and conditions as the Bank may deem fit. In any event, unless otherwise specified by the Bank in writing, any replacement ATM/Debit Card and PIN issued by the Bank shall be governed by the Terms and Conditions.
  13. International Usage Of ATM/Debit Card
    • The Bank at any point of time may, at its sole discretion, discontinue International usage of the ATM/Debit Card with prior intimation. the Holder(s) shall use the ATM/Debit Card for foreign currency withdrawals and transactions only for private visit abroad under the provisions of FEMA, 1999 or such amended scheme of the RBI as may be made applicable from time to time, and not for any other reasons and hereby agree and confirm that usage outside India would be subject to regulatory and legal restrictions and exchange control laws and limitations as may be applicable from time to time in both the country where the transaction is performed as also in India. The Customer understands and acknowledges that any and all other limits and/or restrictions imposed on the Account, the Facilities and ATM/Debit Card shall apply in addition to and not in derogation of the limit imposed for foreign currency withdrawals and transactions towards private visit abroad.
    • Utilisation of the Card shall be in strict accordance with the Exchange Control Regulations of the Reserve Bank of India (RBI) issued from time to time. In the event of non-compliance 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 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.
    • The Card cannot be used for effecting remittances for which the release of exchange is not permissible under the extant guidelines.
    • The Holder and the Customer shall compensate/reimburse and hold harmless the Bank from any and all consequences arising from non-compliance of the Exchange Control Regulations of the RBI and the applicable laws. Non-resident Indians will be eligible to international use of ATM/Debit Card issued in India.
    • The Holder(s) and the Customer recognize that foreign currency withdrawal will attract a service fee. Such service fee shall be subject to revision at the sole discretion of the Bank.


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