SBM BANK PREPAID CARD TERMS & CONDITIONS
I. GENERAL TERMS AND CONDITIONS
These terms and conditions ("Terms and Conditions") apply to and regulate the provisions of prepaid payment instruments namely Prepaid Cards provided by EQX Analytics Private Limited (the Company”). The PPIs are issued by SBM Bank (India) Limited (“Bank”).
By completing the sign-up process for availing any of the Cards, you are deemed to have expressly read, understood and accepted each and every Terms and Conditions mentioned herein. You agree to be bound by all the Terms and Conditions mentioned herein, as may be amended from time to time.
In these Terms and Conditions, “We”, “Us” or “Our” refers to the SBM Bank, or the Company acting on behalf of SBM Bank. “You” or “Your” refers to the individual purchasing or using the Prepaid Card.
In these Terms and Conditions, unless the contrary intention appears and/or the context otherwise requires, capitalized terms defined by: (i) inclusion in quotations and/ or parenthesis have the meanings so ascribed; and (ii) the following terms shall have the meanings assigned to them herein below:
ISSUANCE AND USAGE OF PPI
TERM & TERMINATION
LOST, STOLEN OR MISUSED PPI:
EXCLUSION OF LIABILITY
QUALITY OF GOODS AND SERVICES
GOVERNING LAW AND JURISDICTION
AMENDMENT OF THE TERMS AND CONDITIONS
CUSTOMER GRIEVANCE REDRESSAL
NO WARRANTIES: WE AND OUR SERVICES PROVIDERS AND SYSTEM PARTICIPANTS EXPRESSLY DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, WRITTEN OR ORAL, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY AND FITNESS OF THE CARDS AND RELATED ASPECTS INCLUDING ITS USE FOR A PARTICULAR PURPOSE.
I. TERMS AND CONDITIONS FOR RELOADABLE CARD
This section lays out the Terms and Conditions which shall be applicable only to the Reloadable Card(s) issued by Us.
For the purposes of this section “Reloadable Card” shall mean physical or Reloadable cards issued by the Issuer and provided by Us, which can be used for purchasing goods and services.
CHARACTERISTICS OF RELOADABLE CARD
ACCEPTANCE AND USAGE OF RELOADABLE CARD
Upon completion of KYC formalities Customer will be able to use the Reloadable Card for the maximum limit as prescribed under the Regulations from time to time. At present, the KYC formalities and maximum limit prescribed is as follows:
Upto Rs. 10,000/- by accepting minimum details of the Customer:
Upto Rs. 1,00,000/- after completing KYC of the Customer:
We shall not be held responsible with regards to the quality of goods and services provided to the Customer by the Merchant Establishment.
The Reloadable Card shall be used only for bonafide personal / official purposes. It is clarified that Charges incurred at certain Merchant Establishments, include a charge for availing certain additional services or other facilities by such Merchant Establishments.
The Customer acknowledges that all refunds in case of failed, returned, rejected or cancelled Transactions done by the Customer using any other PPI cannot be credited in the Reloadable Card.
The Customer hereby acknowledges and agrees that the Reloadable Card can be reloaded as per the request placed by the corporate.
DCB BANK PREPAID CARD TERMS AND CONDITIONS
These Terms and Conditions are for DCB STASHFIN Prepaid Cards issued by STASHFIN to its Customers in collaboration / cobranding with DCB Bank.
In these Terms and Conditions ‘STASHFIN’ denotes the brand owned by EQX Analytics Private Limited, a Private Limited Company incorporated under the Companies Act, 1956 (CIN:U67190DL2016PTC290928) and having its Corporate Office at 1st Floor, CRC2 Building, Khasra No. 337, Sultanpur, New Delhi, 110030, India , 'DCB Bank' denotes DCB Bank Limited, a Banking Company incorporated under the Companies Act, 1956 (CIN: L99999MH1995PLC089008) and having its Registered Office at 601 & 602, Peninsula Business Park, 6th Floor, Tower A, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013, ‘DCB STASHFIN Card’ or ‘DCB STASHFIN VISA Card’ denote DCB STASHFIN Prepaid Card and 'you' or ‘Cardholder’ denotes the DCB STASHFIN Prepaid Card-holders.
Please make sure you have read the DCB STASHFIN Prepaid Card Terms and Conditions carefully before using the DCB STASHFIN Card. By using the DCB STASHFIN Card you are unconditionally and irrevocably accepting the terms and conditions as listed hereunder and as appearing on the DCB Bank website ‘www.dcbbank.com’ and will be bound by them at all times. By using the DCB STASHFIN Card you also accept the onus of ensuring compliance with the relevant Reserve Bank of India (RBI) Regulations, and the rules and regulations framed by the RBI, as amended / modified from time to time and any other corresponding enactment / law in force from time to time.
The Cardholder acknowledges and understands that the DCB STASHFIN Card is being issued on the basis of his/her application.
|Annual fee / maintenance charge||Nil|
|Card issuance fee / processing fee||Nil|
|Card replacement fee||INR 250.00 per replacement|
|Cash withdrawal at ATM||Every month First 10 withdrawals free; Thereafter per withdrawal - INR 20.00|
|Card reload fee||Nil|
|PIN regeneration fee on App||Nil|
|Balance enquiry at ATM||INR 8.00 per enquiry|
|Balance enquiry on App||Nil|
|Transaction history on App||Nil|
|Block/ unblock card on App||Nil|
*Service Tax as applicable will be levied on all the fees and charges mentioned above.
VOLUNTARY SUBMISSION OF AADHAAR DETAILS
By submitting the physical copy/image of Aadhaar Card via the StashFin App / Website, I confirm that I am voluntarily doing so at my own discretion for the purpose of establishing my identity / address proof while obtaining loan from StashFin and hereby consent for the verification of my Aadhaar to establish its genuineness through Quick Response (QR) code embedded in the Aadhaar Card or through such other acceptable manner as per UIDAI or under any Act or Law from time to time. StashFin have informed me that my Aadhaar shall be used as per requirements of law. StashFin have informed me that my Aadhaar will be stored along with my other details. I confirm that I will not hold StashFin or any of their legal entities or any of their officials responsible in case of any incorrect information provided by me.
Minimum KYC Wallet Terms and Conditions
|1.||Maximum outstanding Balance||The maximum outstanding balance on the StashFin Credit Line Card must not exceed INR 10,000/- (Indian Rupees Ten Thousand Only) at any point in time.|
|2.||Loading or Reloading of Funds||The total amount loaded or reloaded on the StashFin Credit Line Card during any given month shall not exceed INR 10,000/- (Indian Rupees Ten Thousand Only) and the total amount loaded during the financial year shall not exceed INR 1,00,000/- (Indian Rupees One Lac Only).|
|3.||Transfer of funds||You will not be able to transfer money from such Min KYC accounts to other Money accounts or bank accounts. The only time you can transfer money out of this account is at the point of closure of your Wallet, at which point you would be required to transfer money to your own bank account post providing required bank account proof of ownership and after completing your Know Your Customer; or transfer money 'back to source' (payment source from where the money was loaded).|
|4.||Debit from prepaid account||The total amount debited from the prepaid payment account during any given month shall not exceed INR 10,000/- (Indian Rupees Ten Thousand Only).|
|5.||Expiry Period||Min KYC account will be valid for a period of 18 (eighteen) months from the date of issue/activation or as per timelines prescribed under applicable laws, post which you will be required to upgrade your account by providing requisite KYC information/ documentation to StashFin.|
|6.||Making the Wallet account inactive||In case of no financial transaction for a consecutive period of 1 (one) year in the Prepaid Payment Account, StashFin shall make the Account inactive. Reactivation will be as per applicable terms and conditions.|
|7.||Closure of Wallet||At the time of closure, any outstanding balance in the wallet shall be transferred at the request of the holder to the ‘own bank account of Wallet holder’ or shall be transferred ‘back to source’ after complying with KYC requirements of the Wallet holder.|
Full KYC Wallet Terms and Conditions
|1.||Maximum outstanding Balance||The maximum outstanding balance must not exceed INR 50,000/- (Indian Rupees One Lac Only) at any point in time.|
|2.||Loading or Reloading of Funds||Shall be reloadable in nature.|
|3.||Expiry Period / Inactivity||StashFin Wallet shall be valid for a period of 3 or 5 years (depending on the Card). In cases where you do not perform any financial transactions using StashFin Wallet for a consecutive period of 1 (one) year, your wallet will be considered inactive. Where you wish to reactivate such account, you will have to contact us through our customer care details as mentioned under these T&Cs and comply with applicable validation norms, as prescribed by StashFin.|
|4.||Making the wallet account inactive||In case of no financial transaction for a consecutive period of 1 (one) year in the Prepaid Payment Account, StashFin wallet shall make the Prepaid Payment Account inactive|
|5.||Closure of Wallet||An option shall be provided at the time of issuing the Wallet, to the holder to provide details of pre designated bank account or other PPI of the same issuer to which such balance amount shall be transferred in the event of closure or expiry of such wallet.|
*Note: KYC documentation shall be in line with the prevailing RBI guidelines on (KYC) Know your Customer. Above parameters and limit capping is applicable as per the Master direction on issuance and operation of prepaid card instruments dated 11th Oct 2017, and subject to change as when new guidelines is issued by RBI.
StashFin reserves its right, in its sole discretion and without any prior notice, to impose and/or revise charges/commissions in relation to the use of your StashFin Wallet. The current charges for your Wallet are provided hereunder, the same are subject to change
|Account Maintenance||Up to Rs. 100 per year (on the basis of usage of Card).|
|*For Failed transactions, total amount including charges are reversed.|
*Note: There terms and conditions may change as prescribed by StashFin from time to time