Terms and Conditions for Mobile Banking Service
The Mobile Banking Services is provided by The Nasik Merchants Co-operative Bank Ltd, Nashik having its Registered and Head Office at Nashik - 422 007 on the following
terms & conditions. Please read these Mobile Banking terms and conditions carefully before using Mobile Banking Services. These terms and
conditions apply to all transactions using Mobile Banking Services. By using the Mobile Banking Services, the account holder unconditionally accepts the
terms and conditions listed hereunder and will be bound by them and the applicant accepts the onus of ensuring compliance with the relevant Reserve
Bank of India (RBI) Regulations, Exchange Control Regulations of the RBI, Foreign Exchange Management Act 1999 (The FEMA Act.) all the rules and
regulations framed under the Act and as amended/modified applicable from time to time and any other corresponding enactment in force from time
to time. The Mobile Banking Services Customer will also remain bound by the terms and conditions of operations of his/her Savings Bank
Account/Current Account/other Accounts with the Bank and the changes made thereto from time to time and also bound by the Rules and Regulations
of the Bank as amended from time to time.
1. Definitions:The following words and expressions shall have the corresponding meanings wherever appropriate
1. Account shall mean an account with the Base Branch in which a request for availing the Mobile Banking Service has been registered or re-registered with the Bank
2 Customer' means the holder of an Account with NAMCO
3 MPIN'shall mean the Mobile Personal Identification Number (password) for the Mobile Banking Service
4 MBSshall mean Mobile Banking Service of the Bank and includes the service over the application/USSD/GPRS/SMS Banking
5 "USSDshall mean Unstructured Supplementary Service Data
6 Bankshall mean The Nasik Merchants Co-operative Bank Ltd, Nashik or any successor and assigns.
7 'Facilityshall mean Mobile Banking Services provided to the Customer including IMPS, contained in clause 11
8 Mobile Phone Numbershall mean the Mobile number that has been used by the Customer to register for the Facility
9 Application hall mean the Bank's Mobile Banking application which will be downloaded onto the mobile phone handset of the Customer
10 GPRSmeans General Packet Radio Service,
11 Bank's websitemeans www.namcobankin
12' SMS Banking means a service that allows customers to access their account information via Mobile phone using SMS messaging (More Information in clause 12)
13 Mobile Phone shall mean the handset and the SIM card along with the accessories and the necessary software for the GSM and the CDMA form which is owned by the
2. Applicability of Terms and Conditions
No Customer is entitled to use the MBS without understanding and agreeing to the Terms and Conditions for Mobile Banking Service. By using the
MBS, the Customers thereby agree to a
and consent to these Terms and Conditions, which form the contract between the Customer and Bank MBS shall be governed by such terms conditions as amended by the Bank from time to time. These terms and conditions shall be in addition to and not in
derogation of other terms and conditions relating to any Account of the Customer and/or the respective product or the service provided by the Bank
unless otherwise specifically stated
3.General Business Rules Governing Mobile Banking Service
The following Business rules will apply to the MBS
3.1 The Facility will be available to Customers having a Savings/ Current account with the Bank
3.2 The daily upper ceiling under the Facility, per Customer, shall be Rs.2,00,000.00 for an aggregate of fund transfer, bill payment, and merchant payment when the service is used over the application/GPRS,
3.3 Entering the wrong MPIN thrice will block the MBS to the Account for the day and two such consecutive blockages will de-activate the Facility and
tomer should re-register for the services as per the procedure laid down for the same.
3.4. Any change in the business rules of any of the processes will be notified on Bank's website www.namcobank.in, which will be construed as sufficient notice to the Customer.
3.5 In the case of a joint account where the mode of operation is "Either or Survivor any of the joint account holders can use the Facility. The transactions in such accounts shall be binding on all the joint account holders, jointly and severally. The Customers are bound to advise the Bank separately, of any change in the mode of operation in an Account and get it effected for necessary modifications to the Application. Accounts, where the mode of operation is "Joint as also accounts in the name of minor or where minor is a joint account holder, are not eligible for MBS
3.6 The Bank reserves the right to reject a Customer's request for MBS without assigning any reasons.
3.7 The Bank may suspend the Facility if the same has not been accessed by the Customer for three months or more. If the Facility has not been accessed for six months or more, the same will be canceled.
3.8 The Customer can request for termination of the Facility by submitting the separate application at the base branch where the primary account enabled for MBS choosing the option "Disabling of Mobile Banking Services". The Customer shall remain accountable for all the transactions on the designated account made prior to confirmation of any such cancellation request by the Bank. It shall be the Bank's endeavor to give a reasonable notice for withdrawal or termination of the facility, but the Bank may at its discretion withdraw temporarily or terminate the Facility, either wholly or partially, anytime without giving prior notice to the Customer. The facility may be suspended for any maintenance or repair work for any breakdown in the
BS, any emergency or security reasons without prior notice and the bank shall not be responsible if such an action has to be taken for reasons of security or emergency.
3.9. The Bank may also terminate or suspend the services under the Facility without prior notice if the Customer has violated the terms and conditions laid down by the Bank or on the death of the Customer when brought to the notice of the Bank.
4. Usage of Facility: By accepting the terms and conditions on the mobile phone while registering for the facility, the Customer
4.1 agrees to use the MBS for financial and non-financial transactions offered by the Bank from time to time,
4.2 also irrevocably authorizes the Bank to debit the Accounts which have been enabled for MBS for all transactions/services undertaken by using MPIN
4.3 authorizes the Bank to map the account number, User ID, and Mobile Phone Number for the Smooth operation of MBS offered by the Bank and to preserve the mapping record in its server or server or any other third party and to use such data at its discretion for providing/enhancing further banking/ technology products that it may offer.
4.4 agrees that he/she is aware and accepts that MBS offered by the Bank will enable him/her to transact using MPIN within the limit prescribed by the Bank and will be deemed as bonafide transactional
4.5 agrees that the transactions originated using the mobile phones are on Teliaclable as these are instantaneous/real-time.
4.6 understands and explicitly trees that Bank has the absolute and unfettered right to revise the prescribed ceilings from time to time which will be binding upon him/her.
4.7 agrees to use the facility on a mobile phone properly and validly registered in his/her name only with the Mobile Service Provider and undertakes to use the Facility only through Mobile Phone Number which has been used to register for the Facility.
4.8 agrees that while the Information Technology Act, 2000 prescribes that a subscriber may authenticate an electronic record by affixing his digital signature which has been given legal recognition under the Act, the Bank is authenticating the customer by using Mobile Number, MPIN or any other method decided at the discretion of the Bank which may not be recognized under the IT Act 2000 for authentication of electronic records and this is acceptable and binding to the Customer and license hence the Customer is solely responsible for maintenance of the secrecy and confidentiality of the MPIN without any liability to the Bank.
5.1 The Customer shall be required to acquaint himself/herself with the process for using the Facility and that he/she shall be responsible for any error made while using the Facility. Customer shall not use MHS for unlawful activities
5.2 The Bank reserves the right to decide what services may be offered. Additions/ deletions to the services offered under the facility are at its sole discretion.
5.3 The instructions of the Customer shall be effected only after authentication under his/her USER ID and MPIN or through any other mode of verification as may be stipulated at the discretion of the Bank
5.4 While it shall be the endeavor of the Bank to carry out the instructions received from the Customers promptly, it shall not be responsible for the delay/ failure in carrying out the instructions due to any reasons whatsoever including failure of operational system or due to any requirement of law. The Customer expressly authorizes the Bank to access his/her account information required for offering the services under the Facility and also to share the information regarding his/her accounts with the service provider/ third party as may be required to provide the services under the Facility.
5.5 The transactional details will be recorded by the Bank and these records will be regarded as conclusive proof of the authenticity and accuracy of transactions.
5.6 The Customer hereby authorizes the Bank or its agents to send promotional messages including the products of the Bank, greetings or any other messages the Bank may consider from time to time.
5.7 The Customer understands that the Bank may send rejection' or 'cannot process the request messages for the service request(s) sent by the Customer which could not be executed for any reason,
5.8 'The Bank shall make all reasonable efforts to ensure that the customer information is kept confidential but shall not be responsible for any inadvertent divulgence or leakage of confidential Customer information for reasons beyond its control or by the action of any third party,
5.9 The Customer expressly authorizes the Bank to carry out all requests/ transactions purporting to have been received from his/her trouble phone and authenticated with his/ her MPIN. In the case of payment facilities like fund transfer, mobile top-up, bill payment, etc, the customer shall
5.10 It is the responsibility of the Customer to advise the Bank of any change in his mobile number or loss; that of mobile phone by adopting the procedure laid down by the Bank for the purpose
5.11 The Telecom Service provider of the customer may levy charges for each SMS/dial/GPRS and the Bank is not liable for any dispute that may arise between such telecom service provider and the Customer
6. Fee structure for the Facility:
The Bank reserves the right to charge the Customer a lee for the use of the services provided under the Facility and change the fee structure at its discretion, Display of such charges on Bank's websites would serve as sufficient notice and the same is binding on the customer.
7. Accuracy of Information:
7.1 It is the responsibility of the Customer to provide correct information to the Bank through the use of the Facility or any other method. In case of any discrepancy in this information, the Customer understands that the Bank will not be in any way responsible for action taken based on the Information. The Bank will endeavor to correct the error promptly wherever possible on a best effort basis, if the customer reports such error 10 information
7.2 The Customer understands that the Bank will try, to the best of its ability and effort to provide accurate information and shall not hold the Bank responsible for any errors or omissions that may occur due to reasons beyond the control of the Bank.
7.3 The Customer accepts that the Bank shall not be responsible for any errors which may occur in spite of the steps taken by the Bank to ensure the accuracy of the information and shall not leave any claim against the Bank in an event of any loss/ damage suffered as a coi provided by the Dunk found to be not correct.
8. Responsibilities and obligations of the Customer
8.1 The Customer will be responsible for all transactions, Including unauthorized/erroneous/ wong/ Incorrect/mistaken/alse transactions made through the use of his/her mobile phone, SIM card, and MPIN, regardless of whether such transactions are entered into or authorized by him/ her, The Customer will be responsible for the loss/damage if any suffered in respect of all such transactions.
8.2 The Customer shall take all possible steps to ensure that the Application and his/her mobile phone are not shared with anyone and shall take immediate action to de-register from MBS as per procedure laid down in case of misuse/ theft/loss of the mobile phone or SIM card.
8.4 The Customer shall keep the USER ID and MPIN confidential and will not disclose these to any other person or will not record them in a way that would compromise the confidentiality of the same or the security of the service
8.5 It will be the responsibility of the Customer to notify the Bank immediately if he/she suspect the misuse of the MPIN. He will also immediately initiate the necessary steps to change his MPIN.
8.6 If the mobile phone or SIM is lost, the user must immediately take action to de-register fratri MBS at the base branch of the primary account enabled for MBS
8.7 The Customer accepts that any valid transaction originating from the USER ID and/or registered mobile phone number shall be assumed to have been initiated by the Customer and any transaction authorized by the MPIN is duly and legally authorized by the Customer
8.8 The Customer shall keep himself/herself updated with regard to any information/ modification relating to the services offered under the Facility which would be publicized on the Banks websites and at the bra riches and would be responsible for taking note of/ compliance of such information/ modifications in making use of the Facility.
8.9 The Customer shall be liable for all loss or breach of the Terms and Conditions contained herein or contributed or caused the loss by negligent actions or a failure to advise the Bank within a reasonable time about any unauthorized access in the account
8:10 The Customer shall be liable and responsible for all legal compliance and adherence of all commercial terms and conditions li respect to the mobile connection/SIM card/mobile phone through which the facility is availed and the Bank does not accept/ acknowledge any responsibility in this regard.
8.11 It is the responsibility of the Customer to notify the Bank about any change in the mode of operation through a separate communication, making a Specific reference to the MBS availed. It is also the responsibility of the Customer to notify the Bank of any other change in the operation of the account which will otherwise make the account ineligible for the MBS: Any failure on the part of the Customer to advise the Bank separately shall continue to blog all the account boldens, family and severally for the transactions through this Facility:
9.1 The Bank, when acting in good lathi, Full be absolved of any liability in case: The Bank is unable to receive or execute any of the requests from the Customer or there is loss of information during processing or transmission or any unauthorized access by any other person or breach of confidentiality or due to reasons beyond the control of the Bank. There is any kind of loss, direct or indirect, incurred by the Customer or any other person due to any failure or lapse in the Facility which is beyond the control of the Bank There is any failure or delay in transmitting of information or there is any error or inaccuracy of information or any other consequence arising from any cause beyond the control of the Bank which may include technology failure, mechanical breakdown, power disruption, etc There is any lapse or failure on the part of the service providers or any third party affecting the said facility and that the Bank makes no warranty as to the quality of the service provided by any such provider.
. 9.2 The Bank, its employees, agent or contractors, shall not be liable for and in respect of any loss or damage whether direct, indirect or consequential including but not limited to loss of revenue, profit, business, contracts, anticipated savings or goodwill, IOSY of use or value of any equipment including software, whether foreseeable or not, suffered by the Customer or any person howsoever arising from or relating to any delay, interruption, suspension, solution of error of the Bank in receiving and processing the request and in formulating and return interruption, suspension, restriction, or error in transmission of any information or message to and from the telecommunication equipment of the Customer and the network of all service provider and the Bank's system or any breakdown, interruptoti, 5tSpeision or failure of the telecommunication equipment of the Customer, the Bank's system or the network of any service provider and/or any third party who provides such services as is necessary to provide the Facility
9.3 The Bank will not be responsible if the Application is not compatible with/ does not work on the mobile handset of the Customer
In consideration of the Hank providing the Facility, the Customer agrees to indemnify and hold the Bank harmless against all actions, claims, demands proceedings, loss, damages, costs, charges, and expenses which the Bank may at any time incur, Sustain, suffer or be put to us a consequence of or arising out of or in connection with any services provided to the Customer pursuant hereto. The Customer shall indemnify the Bank for unauthorized access by any third party to any information Instructions/triggers given by the Customer or breach of confidentiality.
11. Inter-bank Mobile Payment Service
Under the aegis of the National Payments Corporation of India (NPCI), NAMCO T offering a new facility IMPS (Interbank Mobile Payment Service for transferring funds using the mobile number of the beneficiary with an additional 7 digit MMID. Users of MBS will be automatically issued with an MMID CON the primary account of MBS. Acceptance of terms & conditions of Mobile Banking Service implies: consent of the customer for the issue of MMID also.
12. SMS Banking:
When the Service is used by the Customer through SMS Banking, the USER ID and MPIN will be part of the message, which is being sent by the Customer to the Bank for completing the transactions. It will be the responsibility of the Customer to delete such message from the sent items folder in the message box of the Mobile handset to ensure against possible misuse and safeguard the interests of the Customer and tire Bank
13. Governing Law & Jurisdictions
13.1 The Facility and the terms and conditions of the site are governed by the applicable
13.2 Any dispute or calm pertain to the facility and /or the terms and conditions herein are subject to the exclusive jurisdictions of competent courts/trials/forums in Nashik and the Customer agrees to such exclusive jurisdictional in Nashik.'