These Terms and Conditions apply to and regulate the issuance and usage of debit cards offered by Shivalik Small Finance Bank to Account holder and/or any person as may be specified by the Account holder.
These terms and conditions (the “Terms”) shall be in addition to any other terms as stipulated by Shivalik Small Finance Bank from time to time. All annexure to the Terms shall form an integral part of the Terms.
In these terms and conditions, unless there is anything repugnant to the subject or context thereof, the following words / expressions shall have the meaning as stated herein under:
Applicability of Terms
The Terms form the contract between the Cardholder and Shivalik Small Finance Bank. The Cardholder shall be deemed to have unconditionally agreed to and accepted the Terms by signing the Card application form, or acknowledging receipt of the Card in writing, or by signing on the reverse of the Card, or by performing a transaction with the Card or by requesting POS activation of the Card or activation through ATM or by collected from the branch or after 10 days have elapsed since the Card was dispatched to his address on record. The Terms will be in addition to and not in derogation of the terms and conditions relating to the Account of the Cardholder. The Cardholders availing of any services / facilities including but not limited to enquiry on transactions, Statement details through Bank Shivalik Small Finance Bank’s internet banking and/or any other channels, shall at all times continue be bound by the terms and conditions stipulated by the Bank from time to time for such services / facilities.
Issue of Debit Cards
Confidentiality and Security of Registration Information
Rules of Liability
The Internet perse is susceptible to a number of frauds, misuses, hacking and other actions. Whilst the Bank shall aim to provide security to prevent the same, there cannot be any guarantee from such Internet frauds, hacking and other actions which could affect the use of the Card.
Every effort is made to keep the server of the Bank up and running smoothly. However, the Bank takes no responsibility for, and will not be liable for, the server being temporarily unavailable due to operational issues beyond the control of the Bank.
Cardholder obligations, Usage and Card Validity
Lost or Stolen Card/s
Reporting of unauthorized transactions by customers to Bank
The Cardholder must notify the Bank of any unauthorized transaction at the earliest through SSFB’s Customer Care Centre or otherwise after the occurrence of such transaction. Cardholder understands that the longer the time taken to notify the Bank, the higher will be the risk of loss to the Bank/ Cardholder.
2 Limited Liability of a Cardholder (Subject to modification as per guidelines issued by RBI and/or change on policy by Bank):
Zero Liability of a Cardholder:
A Cardholder’s entitlement to zero liability shall arise where the unauthorized transaction occurs in the following events:
Limited Liability of a Cardholder:
A Cardholder shall be liable for the loss occurring due to unauthorized transactions in the following cases:
All other Current/Cash Credit/Overdraft Accounts
Further, if the delay in reporting is beyond seven working days, the Cardholder’s liability shall be determined as per the Bank’s Grievance Redressal policy.
Overall liability of the Cardholder in third party breaches, as detailed above where the deficiency lies neither with the Bank nor with the Cardholder but lies elsewhere in the system, is summarized in the Table 2 below.
Summary of Customer’s Liability
Within 3 working days
Within 4 to 7 working days
The transaction value or the amount mentioned in Table 1, whichever is lower
Beyond 7 working days
As per Bank’s policy
The number of working days mentioned in Table 2 shall be counted as per the working schedule of the home branch of the Cardholder excluding the date of receiving the communication.
Surrender/Replacement of Card
Statements & Records
Exclusion from liability and indemnity
Addition/Withdrawal of facilities
Fees and Charges
Quality of Goods and Services
Governing Law and Jurisdiction
The Bank and Cardholder agree that any legal action or proceedings arising out of terms shall be subject to exclusive jurisdiction of the courts and/or tribunals at Noida, India. These Terms and Conditions shall be governed by and construed in accordance with the Laws of India.
Notification of Changes
Other Terms and Conditions
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