Terms and Condition

Terms of Service ( Terms and Conditions )

TERMS AND CONDITIONS FOR SPCB Net-Banking RETAIL USER
1. Definitions:

In this document the following words and phrases have the meaning set opposite them unless the context indicates otherwise:

Bank refers to The Surat People's Co-op Bank Ltd (SPCB), a Multi-State Scheduled Bank having its registered office at "Vasudhara Bhavan", Nanpura, Timaliyawad, Surat - 395001, Gujarat, India and including any branch / office thereof.

Net-Banking g is the Bank's Internet Service, offering the various facilities to the Retail User such as (i) funds transfer facility by giving Payment instructions, whether through Electronic Clearing Services or otherwise. The funds transfer facility can be used to transfer funds to self accounts (whether within SPCB network or outside) and third party transfer (whether within SPCB network or outside); (ii) Requests for cheque books, stop payment, remittance (demand Draft / Pay orders), deposit account opening, renewal of deposit; (iii) Account status, which includes balance inquiry, transaction details, statement of accounts, credit / debit card details (iv) Utility bill Payment and online tax Payment provided by SPCB and all modifications of such services including any other services whatever name call as SPCB may decide to provide to its customers from time to time.

User refers to any individual user availing Internet banking facility of the Bank and such user is identified as a Retail User.

Account refers to the User's Savings and / or Current Account and / or Time Deposit and / or Cash Credit, Overdraft, Loan Account and / or any other type of account as available in the Bank to be covered under the Net-banking facility.

Terms refer to terms and conditions for use of Net-banking as detailed in this document, and also provide on the website from time to time.

2. Applicability of terms:

The use of Net-Banking Services is governed by these Terms and conditions which are in addition to and not in derogation to the other terms and conditions applicable to the Customer including but not limited to (i) the terms and conditions, if any, prescribed by RBI with respect to each of the Schemes and as set forth in the Regulations/Guidelines promulgated by RBI; (ii) RTGS Transaction Terms and Conditions; and (iii) the terms and conditions set forth in the agreements, if any, entered into and executed between SPCB and the Customer with respect to the various Schemes. The terms and conditions contained herein are not exhaustive and are in addition to the terms and conditions that the Bank may from time to time prescribe in relation to the Services.

3. a) Application for Net-banking:

The Bank may extend Net-banking facility to selected customers at its discretion. The User need to be a current legal Internet user or has access to the Internet and knowledge of how the Internet works. The application form for Net-banking may either be downloaded or printed or the same can be received from any branch of SPCB. The said form is to be filled up and duly signed by the User and submitted to home SPCB B branches. Upon receipt of request in the bank' s prescribed application form for internet banking and subject to the satisfaction of the eligibility criteria laid down by the Bank from time to time, internet banking access shall be provided to the User by the Bank. The User shall not attempt or permit others to attempt accessing the account information stored in the bank's computers through any means other than Net-banking The User shall not attempt or permit others to attempt accessing the account information stored in the bank's computers which does not relate to his/her account and / or for illegal and / or improper purposes which, if done and proved to be so, will be liable for action under the appropriate law and withdrawal of the Net-banking facility.

b) Instructions: Bank shall provide all instructions for operating the Net-banking facility to the User. The user is also responsible for the accuracy and authenticity of the instructions so provided to the Bank and the same shall be considered to be sufficient to operate the internet banking facility. The Bank shall not be required to independently verify the instructions and the instruction once given is effective unless countermanded by further instructions. The Bank shall have no liability if it does not or is unable to stop or prevent the implementation of the initial instructions. Where the Bank considers the instructions to be inconsistent or contradictory, it may seek clarification from the User or may act upon as it may think fit.

4. Software and Hardware to be used:

The Bank will advise from time to time the Internet software such as Browsers, which are required for usin Net-banking. There will be no obligation on the Bank to support all the versions of this Internet software. The User shall upgrade his software, hardware and the operating systems at his own cost from time to time and the Bank shall be under no obligation to support the software, hardware, operating systems of the User and that the same shall be the sole responsibility of the User.

5. Joint Accounts:

Net-banking facility can be availed by the following persons for a Retail User:

1) Individuals

2) Joint account holders with operating instructions as Self, Either or survivor, Anyone or survivors or survivor clause

The user who is desirous of availing the Net-banking facility should authorise a single signatory to act independently to operate the Net-banking account notwithstanding the fact that the joint accounts are operated on E or S / Anyone or Survivors or survivor. The said Net-banking user should submit necessary authority duly signed by all accountholders, who in the normal course, have to operate the accounts as per the operating instructions.

All transactions arising from the use of Net-banking in the above account shall be binding on the account holders jointly and severally. The Bank, in no way, shall be liable for any loss / damages whatsoever that may be incurred or alleged to be incurred by the said account holders in such an event.

6. Accounts in the names of minors:

In case of accounts opened for and on behalf of minors, the natural guardian shall undertake to give all instructions relating to the operation of the account and further undertake not to reveal the User ID and Password to the minor, which if done so, will be at the risk and consequences of the guardian and the Bank shall not be liable for any loss on that account in case the account is operated by the minor. In such an event the transaction will be deemed to have been undertaken by the guardian.

7. Security:

The Bank shall take adequate and reasonable care to ensure the security of and prevent unauthorised access to the Net-banking service using 128 bit Secured Socket Layer which is the highest level of security available for the internet banking services.

8. Password:

The user accepts and unconditionally agrees to the following:-

i) Upon approval of the account holder's application, the customer will be allotted a user Id and password to access the Net-banking facility.

ii) The user id and password will be mailed separately by the Bank to the mailing address in terms of the option exercised by the customer in the Application Form.

iii) The password so mailed is not known to anyone including the Bank staff. In the event of the mails containing user id and password reaches the customer in a tampered / damaged condition, contact the Bank immediately.

iv) On accessing Net-banking for the first time, the user has to compulsorily change the password assigned by the Bank through the relevant option. The user is at liberty to change the password as many times as possible at his risk and consequences. The user will be solely responsible for maintaining secrecy of the password, so changed, and the Bank shall in no way be responsible for the misuse of the said password by any person other than the authorised user.

v) The Bank does not assume any responsibility in this behalf including against loss incurred by the user as a result of misuse / unauthorised use of user Id / password.

vi) In case the user forgets the password, a new password may be obtained from the Bank against a written request in the prescribed Bank's format available on Internet or from Bank's branch. Such replacements shall not be construed / deemed as the commencement of new contract. In such an event the Bank shall provide the new password within a reasonable period of time. However, till such time no transactions could be effected.

9. Charges:

The Bank reserves the right to charge and recover from the User charges, if any fixed will be intimated to the customers through the websites or through any other medium by the Bank may deem fit, for providing any service under Net-banking facility. The user hereby authorises the Bank to recover the service charges by debiting one of the accounts of the user to make the payment within a specified period. However, charges such as exchange on DD, commission on Bankers, Cheque, postages, courier charges, etc. is borne by the customer.

10. Mailing Address:

All correspondence / delivery of any instructions by the Bank or their communication shall only be made at the normal postal address and / or e-mail address as registered with the Bank. The Bank shall in no way be held responsible for non-receipt of the same.

11.Cheque Book Issue:

The user can request for issuance of a chequebook and the same will be collected from the Home branch by the customer or his/her authorised representative. In any case if Bank sends the cheque book by courier / postal to the mailing address registered in the account then the charges for the same will be borne by the customer.

12. Transaction Processing:

All the Fund Transfers will be affected instantaneously in the account after invoking Instant Funds Transfer.

All the Scheduled Funds Transfer will be carried out on the scheduled dates subject to availability of clear balance in the account.

The user 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 the customer has forwarded the same.

13. Funds Transfer:

The user shall not use or attempt to use Net-banking for funds transfer without sufficient funds in his account or without a pre-existing arrangement with the Bank by way of Cash Credit/overdraft. The Bank will endeavour to effect such funds transfer transactions received through Net-banking provided there are sufficient funds available in the User's account.

The Bank shall not be liable for any omission to make funds transfer (s) due to circumstances beyond the reasonable control of the Bank.

14. Bill Payments :

The user shall maintain sufficient balance in his account for payment of bills on the scheduled date. The Bank shall not be liable for non-payment due to insufficient balance or circumstances beyond the reasonable control of the Bank, including technical problems of connectivity, computer breakdown, non-availability of communication links, etc.

The Bank shall in no way be responsible for the non-payment of the User's bills within the time stipulated and the User alone shall be bound to pay or discharge interest, penalty or any such charges. Further, the Bank shall not be called upon to indemnify the user. All disputes such as excess billing, disconnection of service or facility, wrong credit or debit, shall be resolved by the User only, and the Bank shall in no way be responsible for the same.

15. Authority to the Bank:

Net-banking transactions in the User's Account(s) are permitted only after authentication of the User Id and transaction Password of the User. The User grants express authority to the Bank for carrying out the banking transactions performed by him through Net-banking . The Bank shall have no obligation to verify the authenticity of any transaction received from the User through Net-banking or purporting to have been sent by the User via Net-banking other than by means of verification of the User-Id and the transaction password.

Illegal or improper use of the Net-banking facility shall render the user liable for payment of financial charges as decided by the Bank or will result in the suspension of the operations through Net-banking .

The display or printed output that is produced by the User at the time of operation of Net-banking is a record of the operation of the Internet transactions.

16. Accuracy of Information:

The User is responsible for the correctness of information provided to the Bank through the use of Net-banking or through any other means such as electronic mail or written communication. The Bank accepts no liability for the consequence arising out of erroneous information provided by the User. The user shall at periodic intervals check the correctness of the statement and shall inform the Bank about any discrepancies that may occur. However, Bank does not accept any liability.

All outputs of statements are duplicate statements of account and will be prepared by electronic means and the information contained therein will be extracted from a computerised back-up system maintained by the Bank. While the Bank will take all reasonable steps to ensure the accuracy of the statement, the Bank is not liable for any error. The User shall hold the bank harmless against any loss, damages, etc. that may be incurred /suffered by the User if the information contained in the above said outputs turns out to be inaccurate / incorrect.

17. Liability of the User:

Keeping a written or electronic record of Net-banking password.

Disclosing or failing to take all reasonable steps to prevent disclosure of the Net-banking password to anyone including any minor, Bank staff and/or failing to advise the Bank of such disclosure within reasonable time.

Not advising the Bank in a reasonable time about unauthorized access to or erroneous transactions in the Net-banking accounts.

The Bank shall in no circumstances be held liable by the User if Net-banking access is not available in the desired manner for reasons including but not limited to natural calamity, floods, fire and other natural disasters of any kind, legal restraints, faults in the telecommunication network or Internet or network failure, power breakdown or UPS breakdown, software or hardware failure and or error or any other reason beyond the reasonable control of the Bank. The Bank shall in no way be liable for any loss or damage that may occur due to hacking of the account by any persons other than the user, which fits in the definitions of a 'Cyber Related Crime' as accepted internationally. The Bank shall under no circumstances 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.

18. Internet Frauds:

18.1. The Customer acknowledges that the technology used including the Internet is susceptible to a number of frauds, misuse, hacking, virus, malicious, destructive or corrupting code, programme or macro which could affect Services. This could result in delays in the processing of instructions or failure in the processing of instructions and any other such failures and SPCB shall not be responsible for the same.

18.2. The Customer shall take all necessary precautions to prevent unauthorized and illegal use of Internet Banking and unauthorized access to the Accounts provided by SPCB to the Customer through Internet Banking.

19. MISTAKES & ERRORS:

The Customer is responsible for the correctness and accuracy of information supplied to SPCB and shall ensure that there are no mistakes and errors in the information and Instructions given by the Customer to SPCB for use of the Internet Banking / while using any facility of Internet Banking or through any other means such as electronic mail or written communication. The Customer acknowledges and agrees that in the event of any inaccuracy in any information and/ or Instruction, there could be consequent erroneous transfers. SPCB accepts no liability for such or other consequences arising out of erroneous information and/or Information supplied by the Customer. If the Customer notices an error in the information supplied to the Bank either in the Application Form or any other communication, it shall immediately advise the Bank which will endeavour to correct the error wherever possible on a "reasonable efforts" basis. In the event of Customer's account receiving an incorrect credit by reason of a mistake committed by any other person, SPCB shall be entitled to reverse the incorrect credit at any time whatsoever. The Customer shall be liable and continue to remain liable to SPCB for any unfair or unjust gain obtained as a result of the same.

20. LIMITS:

The Customer acknowledges that SPCB may, from time to time as it deems fit, specify maximum and minimum limits of funds that may be transferred by virtue of a Payment Instruction. The Customer shall be bound by such limits imposed from time to time and shall strictly comply with them.

21. MAINTENANCE OF SUFFICIENT BALANCE:

21.1. The Customer shall ensure that there are sufficient clear and unencumbered funds or prearranged credit facilities in its Account for carrying out the transactions comprised in any Instruction through Internet banking and SPCB shall not be liable for any consequences arising out of its failure to carry out the instructions due to inadequacy of funds and/ or credit facilities; provided always that SPCB shall at its sole discretion be entitled to carry out any Instructions on a selective basis notwithstanding such inadequacy of funds without seeking the prior approval from or notice to the Customer and the Customer shall be responsible to repay with interest the resulting overdraft, advance or credit thereby created and for all related to costs and charges. SPCB will endeavour to effect funds transfer transaction comprised in the Instruction received through Internet Banking subject to availability of sufficient funds in the relevant account of the Customer.

21.2. It is expressly agreed and understood that nothing contained in these Terms and Conditions shall be deemed to constitute an agreement on the part of SPCB for grant of overdraft or any other form of credit facility by SPCB to the Customer with respect to the facilities/products covered by the Services. In the event of any incidental, concealed or temporary overdraft which may be occasioned or which may result due to non /delayed funding, the Customer hereby agrees and the Customer shall be bound to repay the amount debited to the Customer's Account for which a Payment Instruction has been executed by the Bank together with charges including interest payable to the Bank.

21.3. The Customer hereby agrees that if it fails to liquidate the overdraft, which may be occasioned as aforesaid, the following day after it occurs, SPCB shall notwithstanding anything to the contrary contained in the other documents that may have been executed between the Customer and SPCB for any purpose whatsoever or any other understanding or in any law, have right to set off and appropriate the liability against or out of any other accounts/ funds belonging to the Customer, including the amount of any further cheques or drafts which may be deposited by the Customer with SPCB under the terms of the Terms and Conditions relating to the Services.

22. MAINTENANCE OF NET-BANKING SYSTEM:

22.1. SPCB may from time to time upgrade, modify, alter or perform maintenance services on SPCB's NetBanking System (hereinafter collectively referred to as "Maintenance Services"). SPCB shall endeavour to give prior notice of the maintenance services by providing such information on its Website or otherwise.

22.2. SPCB shall not be under any obligation to support the software, hardware, operating or other systems of the Customer and further shall not be liable for any losses, damages and/or expenses incurred by the Customer in respect of any loss of access and/or use or interruption in the use of the Net-banking System or Services due to the Maintenance Services being performed on the same.

23. Indemnity:

In consideration of SPCB providing Services to the Customer in accordance with the terms and conditions contained herein, the Customer shall, at its own expense, indemnify and hold SPCB, its directors and employees, representatives, agents and/or the affiliates, as the case may be, indemnified against all losses and expenses on full indemnity basis which SPCB may incur, sustain, suffer or is likely to suffer in connection with SPCB's or its affiliates' execution of the Customer's Instructions and against any and all actions, claims, liabilities (including statutory liability), penalties, demands, proceedings, losses, awards, damages, costs (including without limitation, legal costs of SPCB on a solicitor and own client basis), charges, losses and/ or expenses as a consequence or by reason of providing the Services for any action taken or omitted to be taken by SPCB and /or its affiliates, its officers, employees or agents, on the Instructions of the Customer. The Customer will pay SPCB and /or its affiliates such amount as may be determined by SPCB and/or its affiliates to be sufficient to indemnify it against any such, loss or expenses even though they may not have arisen or are contingent in nature.

Further, the Customer agrees, at its own expense, to indemnify, defend and hold harmless SPCB, its directors and employees, representatives, agents, and its Affiliates against and all actions, claims, liabilities (including statutory liability), penalties, demands, proceedings, losses, awards, damages, costs (including without limitation, legal costs of SPCB on a solicitor and own client basis), charges, losses and/ or expenses on a full indemnity basis which SPCB, its directors and employees, representatives, agents, and affiliates may incur, sustain, suffer or is/are likely to incur, sustain, suffer to the extent that such claim, suit, action of other proceeding brought against SPCB, its directors and employees, representatives, agents, and affiliates is based on or arises in connection with the Services with reference to:

a violation of the terms contained herein by the Customer; any deletions, additions, insertions or alterations to, or any unauthorized use of, Internet Banking by the Customer; any misrepresentation or breach of representation or warranty made by the Customer contained herein; or

any breach of any covenant or obligation to be performed by the Customer hereunder. The Customer agrees to pay any and all costs, damages and expenses, including, but not limited to, reasonable attorneys' fees and costs awarded against it or otherwise incurred by or in connection with or arising from any such claim, suit, action or proceeding attributable to any such claim.

In the event of SPCB being entitled to be indemnified pursuant to the provisions of these Terms and Conditions, SPCB shall be entitled to accordingly and to such extent debit the Customer's Account or any other account that the Customer may have with SPCB, either singly or jointly with one or more person(s).

24. FORCE MAJEURE:

SPCB shall not be liable for any failure to perform any of its obligations under these Terms and Conditions if the performance is prevented, hindered or delayed by a Force Majeure Event and in such case its obligations shall be suspended for so long as the Force Majeure Event continues (provided that this shall not prevent the accrual of interest on a principal amount which would have been payable but for this provision). Each party shall promptly inform the other of the existence of a Force Majeure Event and shall consult together to find a mutually acceptable solution. "Force Majeure Event" means any event due to any cause beyond the control of the SPCB, including without limitation, network failure, faults in computer systems, storage devices natural calamities, legal restraints or any other reason.

25. RIGHT OF SET-OFF AND LIEN:

SPCB shall have the right of set-off and lien, irrespective of any other lien or charge, present as well as future, on the deposits held in the Account(s) or in any other account, whether in single name or joint name(s), to the extent of all outstanding dues, whatsoever, arising as a result of the Internet Banking extended to and/ or used by the Customer.

26. Disclosure of Personal Information:

The User agrees that the Bank may hold and process his Personal Information on computer or otherwise in connection with Net-banking services as well as for statistical analysis and credit scoring. The User also agrees that the Bank may disclose, in strict confidence, to other institutions, such Personal Information as may be reasonably necessary for reasons inclusive of, but not limited to, the following:

- Participation in any telecommunication or electronic clearing Network compliance with a legal directive

- Credit rating by recognized credit rating / scoring agencies

- Fraud prevention purposes.

27. Bank's Lien:

The Bank shall have the right of set-off and lien, irrespective of any other lien or charge, present as well as future on the deposits held in the User's accounts whether in single name or joint name(s), to the extent of all outstanding dues, whatsoever, arising as a result of the Net-banking service extended to and/or used by the User.

28. Proprietory Rights:

The User acknowledges that the software underlying the Net-banking service as well as other Internet related software which are required for accessing Net-banking are the legal property of the respective vendors. The permission given by the Bank to access Net-banking will not convey or confer any proprietory or ownership rights in the above software. The user shall in no way try to alter / tamper or experiment with the said program. Any breach on the part of the user will be dealt under the appropriate law and user shall be liable for damages that may be incurred by the Bank.

The User shall not attempt to modify, translate, disassemble, decompile or reverse engineer the software underlying Net-banking or create any derivative product based on the software.

29. Change of Terms and Conditions:

The bank has the absolute discretion to amend or supplement any of the Terms at any time without prior notice to each user about the same. The changes so made will be available on the website of the bank which the customers are requested to refer to from time to time. Proposed and existing users to the services are advised to confirm themselves about the terms and conditions contained therein to take note of any changes, modifications and/or amendments which may be made to the scheme from time to time by the Bank. The bank may introduce new services within Net-banking from time to time. The existence and availability of the new functions will be displayed on the bank's website along with the revised/changed terms and conditions applicable to such other Net-banking services. By using the services, it is deemed that the User agrees to be bound by the terms and conditions applicable.

30. Non-Transferability:

The grant of facility of Net-banking to a User is not transferable under any circumstance and shall be used only by the User who will be responsible for all the consequences thereof.

31. Cancellation / Termination of Net-banking:

The User may request for cancellation of the Net-banking facility any time by giving a reasonable notice to the Bank. The User will remain responsible for any transactions made in his accounts through Net-banking prior to the time of such cancellation of the Net-banking Service as informed by Bank after accepting such request. The Bank may withdraw either entirely or partially the Net-banking facility anytime provided the User is given reasonable notice. The closure of all Accounts of the User will automatically terminate the Net-banking service. The Bank may suspend or terminate Net-banking facilities either entirely or partially without prior notice if the User has committed breach of these terms and conditions or the Bank learns of the death, bankruptcy or legal incapacity of the User.

32. Notices:

The Bank and the User may give notices under these Terms and Conditions:

- Electronically to the mailbox of either party. Such notices will be regarded as being in writing.

- In writing by delivering them by hand or by sending them by post to the last address given by the User.

In addition, the Bank may also publish notices of general nature, which are applicable to all User of Net-banking on its web site. Such notices will have the same effect as a notice served individually to each User and or that of a notice published in a newspaper of print media.

33. Governing Law:

The terms and conditions and/or the operations in the accounts of the User maintained by the Bank and/or the use of the services provided through Net-banking shall be governed by the appropriate laws as prevalent in India and no other nation. The User and the Bank agree to submit to the exclusive jurisdiction of the Courts located in Surat, India as regards any claims or matter arising under these terms and conditions.

Any dispute or difference arising between the User and the Bank shall be settled by mutual consultation /discussion failing which, the same shall be resolve by the appropriate court.

The Bank accepts no liability whatsoever, direct or indirect, for non-compliance or breach of the laws of any country other than the Republic of India. The mere fact that the Net-banking Service can be accessed through Internet by a User in a country other than India shall not be interpreted to imply that the laws of the said country shall govern these terms and conditions and/or the operations in the Net-banking accounts of the User and/or the use of Net-banking . The user of the Net-banking facility by a person from any place other than India will not alter the situation and the said user shall be deemed to have submitted his / her to the laws of the Republic of India and only the Indian courts shall have the jurisdiction.

34. General:

The clause headings in this agreement are only for convenience and do not affect the meaning of the relative clause. The User shall not assign this agreement to anybody else.