Reg. No: SA 2914 Dated : 27 Jan. 1995
License No: UBD Guj-1153 P Dated : 01 July 1995

Terms & Conditions

Terms & Conditions

The terms and conditions under which the Android Mobile Application has been issued mentioned below for your guidance.

General Information :

  • You should register for ’Android Mobile Application’ with the branch where you maintain the account.
  • Normally Android Mobile Application services will be open to the customer only after Applicant received user id & password.
  • We invite you to visit your account on the site frequently for transacting business or viewing account balances. If you believe that any information relating to your account has a discrepancy, please bring it to the notice of the branch by e-mail or letter or telephonically.

Security :

  • User-id & Password shall be delivered by SMS given in Application form.
  • The User-id shall be permanent and Password will be changeable by customer.
  • You are welcome to access ’Android Mobile Application’ from anywhere anytime.
  • There is no way to retrieve a password from the system. Therefore if a customer forgets his password, he must approach the Home Branch for resetting password application.

Bank’s terms :

  • All requests received from customers are logged for backend fulfillment and are effective from the time they are recorded at the branch.
  • The Android Mobile Application service cannot be claimed as a right.
  • Dispute between the customer and the Bank in this service is subject to the jurisdiction of the courts in the Republic of India and governed by the law prevailing in India.
  • The Bank reserves the right to modify the services offered or the Terms of service of ’ Android  Mobile Application’. The changes will be notified to the customers through a notification on the Site.

Customer’s obligations :

  • The customer has an obligation to maintain secrecy in regard to User ID & Password registered with the Bank. The bank suggests User ID and password should be kept with the customer’s confidential mode and should not be used by others.
  • The customer will not attempt or permit others to attempt accessing the ’ Android  Mobile Application’ through any unlawful means.

Dos’ & Don’ts :

  • The customer should keep his / her User ID and password strictly confidential and should not divulge the same to any other person. Any loss sustained by the customer due to non-compliance of this condition will be at his/her own risk and responsibility and the bank will not be liable for the same in any manners.
  • The customer is free to choose a password of his own for Android  Mobile Application services. As a precaution a password that in is generic nature guessable or inferable personal data such as name, address, telephone number, driving license, date of birth etc. is best avoided. Similarly it is a good practice to commit the password to memory rather than writing it down somewhere.

Instructions :

  • In case of joint accounts, the applicant is required to obtain the joint holder’s name & signature.
  • Account holders can access their accounts through Android Mobile Service only.
  • Completed application should be submitted to the branch where the primary account is maintained.
  • Information on activation of facility along with the Mail / SMS / PIN mailer will be sent to the applicant’s address registered with the Bank.
  • This Android Mobile  Application Require Internet Service in Applicant’s Mobile.
  • The terms and conditions of service form the contract between customer and Bank. By applying for Android Mobile Service of the Bank, the customer acknowledges these terms. These terms will be in addition and not in derogations of the terms and conditions relating to any Account of the customer.
  • The customer shall be required to acquaint himself with the detailed process for using Android Mobile Application and The Varachha Co-Op Bank Ltd. shall not be responsible for any error made by the customer.

The terms and conditions under which the Debit cum ATM Card has been issued mentioned below for your guidance.

Terms used here:

  • Bank means The Varachha co-op. Bank Ltd., Surat
  • Card means Debit cum ATM Card issued to customer
  • Cardholder means customer who has been received Debit cum ATM Card.

The Card:

  • The card is the property of the bank and shall be returned unconditionally and immediately to the bank upon request by the bank.
  • The bank reserves the right to cancel the card and stop its operations unilaterally without assigning any reason.
  • The card is non-transferable.

The Pin:

  • The cardholder shall indemnify /disclose to any person of the personal identification number (pin) at any point of time and under any circumstances whether, voluntarily or otherwise. The cardholder shall not keep any written records of his pin in any place or manner which may enable a third party to use the Debit cum ATM Card.
  • Changing of pin, revision of card limit, change of host branch or replacement of card, etc. shall not be construed as commencement of a new contract.

Loss of Card:

  • The card holder should immediately notify the branch from where he/she has obtained the card if the card is lost / stolen. The cardholder should change the pin immediately it is accidentally divulged.
  • Any financial loss arising out of unauthorized use of the card till such time the bank records the notice of loss of card will be to the card holder’s account.
  • The cardholders shall intimate, the loss of the Debit cum ATM Card to bank /branch/phone number +91 9586644644 and also to the branch where he/she is main training the account by way of a written communication during working hours. On receipt of the lost card information from the customer, head office will hot list the card.
  • However, bank shall not liable for the transactions happened using the lost card, prior to the hot listing of the card.

Debit customers account:

  • The bank has the express authority to debit the designated account of the cardholder for all withdrawals/ transfers effected using the card as evidenced by bank’s records, which will be conclusive and binding on the card holder.
  • The card holder expressly authorizes the bank to debit the designated account with service charges from time to time.

Transactions:

  • The transaction record generated by the ATM will be conclusive and binding unless found to be otherwise on verification and corrected by the bank. The verified and corrected amount will be binding on the card holder Deposits (cash and/or Cheque etc.) Will be verified by two of officials of the bank and their account will be deemed to be correct. Errors will be notified to the card holder by mail.
  • Outstanding Cheque, dividend draft, dividend warrants etc. will normally be accepted on collection basis/immediate credit subject to bank’s existing term and conditions governing such business.

ATM usages:

  • The card can be used at the ATM location with the help of the confidential pin. All transactions conducted with use of the pin will be the cardholder is responsibility. The cardholder agrees that he will be allowed to withdraw only a certain amount of cash per transaction per day as determined by bank irrespective of the credit balance in the account(s).This amount will be announced from time to time. Any attempt to violate this limit may lead to withdrawing of his card facility. When the cardholder completes a transaction through an ATM he can opt to receive a printed transaction record i.e. the transaction slip/ATM receipt. The amount of available fund is shown on this ATM receipt when he cardholder uses his card. The cardholder is advised to retain the record of transaction generated by the ATM with him. Cardholder agrees not to attempt to withdraw using the cards unless sufficient funds are available in the account. The onus of ensuring adequate account balances is entirely on the cardholder.

Merchant Location usages:

  • Bank Debit Cards affiliated to NFS (NPCI) are accepted at all Merchant Establishments displaying Rupay Logo. The Merchant should have an electronic (Point- of- sale) swipe terminal. Usage is permitted up to Rs. 25,000 per day at Merchant locations say, Restaurants, Hospitals, Departmental Stores, Textile outlets; Jewelries etc. present your debit card for payment of the purchase amount. The merchant will swipe the card in the point-of-sale machine for authorization. You will be presented the PIN pad, Key in your PIN at the merchant establishment. After a successful authorization, a charge slip is generated from the POS machine. Ensure for correctness of the amount and sign the charge slip exactly as appearing on the reverse of your card. Collect back your card and your copy of the charge slip. Please retain the charge slip copy till you verify the amount as appearing in your bank statement of account. There are certain exceptional cases where you may be billed extra service charges while making use of your Card with MEs such as Petrol Bunks, Railways, etc. Only if you agree to bear extra charges, you should proceed with the transaction. Such service charges together with the charge slip amount will be debited to your operative account. Please note that since signature verification is essential for debit card transactions you need to be physically present along with your card at the time of purchase. Debit card can be used on the Internet (e-commerce transaction) provided the card is registered with Verified by NPCI RuPay Pay Secure.

Closing of accounts:

  • The card holder wishing to close the designated account or surrender the ATM facility will have to fill Form for stop ATM facility.

 Validity of card:

  • Cards are valid for 8 years from date of issue. Please note that if the card is used after expiry, it will be either be retained or rejected by the atm.

Range of Services:

  • Balance Enquiry:  Cardholder can see the balance in his accounts linked to ATM card on the screen as well as obtain a transaction receipt showing the balance.
  • Statement of account:  A statement containing the last five transactions in the account can be obtained during the day mode.
  • Deposits (cash / Cheque) (not available at present): Cardholders are requested to deposit cash / Cheque at the ATM located at the branch where they maintain their account only after receipt at the customer’s branch and realization thereof.
  • Change of PIN:  Customers can change their pin by any networked ATM.

Fees and Charges:

  • The annual fees for the card will be debited to the primary account linked with the card on application / renewal at the bank’s prevailing rate. These fees are not refundable. The cardholder shall maintain at all times such minimum balance in the account, as bank may stipulate from time to time. Bank reserves the right at any time to charge the cardholder for the issue or reissue of a card and any fees/charges for the transactions carried out by the cardholder on the card. Any government charges, duty or debits, or tax payable as a result of the use of card shall be the cardholder’s responsibility and if imposed upon bank (either directly or indirectly),bank shall debit such charge, duty or tax against the account. In addition, operator of shared networks make imposed additional charge for each use of their ATM/POS terminal/other devise, and any such change along with other applicable fees / charges will be deducted from the cardholder’s account. In the situation that the account does not have sufficient funds to deduct such fees, the bank reserves the right to deny any further transactions. In case of accounts classified as overdrawn accounts, the cardholder will have to rectify the account balance position immediately. This charge will be determined by the bank and will be announced from time to time. Details of the applicable fees and charges as stipulated by bank will be displayed on the website and / or at the branches.
    Procedure for notifying lost card: - Customers should inform the branch which has issued the card in writing immediately.

Note: -The bank reserves the right to introduce new facilities or remove existing facilities as and when warranted assigning any reason or the same. However cardholder will be duly advised.

Terms & Conditions:

  • I am / we are agreeable to pay any service charge leviable by the bank in future for this services.
  • Any information related to my account having leaked by the mobile company, I will not hold. The Varachha co-op. Bank Ltd., responsible it.
  • It shall be A/c. holder’s responsibility to inform the bank in writing if there is any change/cancellation of his/their given mobile no. and other details.
  • Bank reserve the right to terminate this service without prior notice.
  • I/We shall not hold bank responsible for any financial damages/losses which may occur due to any type of lapses on the part of the bank.

Declaration : I/We (who wants to subscribe the SMS service) understand that he Mobile service offered by the bank uses the network provided by Mobile Phone service provider & I/We agree to hold the bank harmless against any loss incurred to me due to failure of this service, I/We have read the terms& conditions given overleaf and bound myself/out self for the same. All information filled in form by me (the undersigned) is filled with best of my knowledge and is correct by all means.

General Information:

  • You should register for ’Internet Banking’ with the branch where you maintain the account.
  • Normally Internet Banking services will be open to the customer only after he/she acknowledges the receipt of user id & password.
  • We invite you to visit your account on the site frequently for transacting business or viewing account balances. If you believe that any information relating to your account has a discrepancy, please bring it to the notice of the branch by e-mail or letter or telephonically.

Security:

  • 1. User-id & Password shall be allotted by Head Office only, so that respective customer should take it from Head Office.
  • The User-id shall be permanent and Password will be changeable by customer.
  • You are welcome to access ’Internet Banking’ from anywhere during banking hours only. However, as a matter of precaution, customers should avoid using PCs with public access.
  • There is no way to retrieve a password from the system. Therefore if a customer forgets his password, he must approach the Head Office for resetting password application.

Bank’s terms:

  • All requests received from customers are logged for backend fulfillment and are effective from the time they are recorded at the branch.
  • Rules and regulations applicable to normal banking transactions in India will be applicable mutatis mutandis for the transactions executed through this site.
  • The Internet Banking service cannot be claimed as a right.
  • Dispute between the customer and the Bank in this service is subject to the jurisdiction of the courts in the Republic of India and governed by the law prevailing in India.
  • The Bank reserves the right to modify the services offered or the Terms of service of ’Internet Banking’. The changes will be notified to the customers through a notification on the Site.

Customer’s obligations:

  • The customer has an obligation to maintain secrecy in regard to User ID & Password registered with the Bank. The bank suggests User ID and password should be kept with the customer’s confidential mode and should not be used by others.
  • The customer will not attempt or permit others to attempt accessing the ’Internet Banking’ through any unlawful means.

Dos’ & Don’ts:

  • The customer should keep his / her User ID and password strictly confidential and should not divulge the same to any other person. Any loss sustained by the customer due to non-compliance of this condition will be at his/her own risk and responsibility and the bank will not be liable for the same in any manners.
  • The customer is free to choose a password of his own for Internet Banking services. As a precaution a password that in is generic nature guessable or inferable personal data such as name, address, telephone number, driving license, date of birth etc. is best avoided. Similarly it is a good practice to commit the password to memory rather than writing it down somewhere.
  • It may not be safe to leave the computer unattended during a valid session. This might give access to your account information to others.

Cheques, Bills, Hundis and other instruments with or without share certificates or other Documents attached / lodged with you for collection and / or Discount and or Purchase from time to time.

With reference to all cheques, bills, hundis and other instruments with or without share certificates or other documents attached, not lodged or, which may, at any time hereafter be lodged by me/us with you for collection and / or discount and / or purchase the following arrangement are hereby agreed upon by

  1. You may at your option but at my/our risk and responsibility in all respects, appoint and agent, who shall be my/our agent to collect.
  2. You or the agent at your or his option, may sent for collection or payment on my/our account at my/our entire risk and responsibility by post or by other manner to another agent or to the drawee there of any cheques, bills hundis or other instruments with or without share certificates or other documents attached I/we agree that such other, agent or the drawee shall be my / our agent for collection at my / our entire risk and responsibility in all respects.
  3. You or an agent may, at your or his option but at my / our risk and responsibility, receive, in exchange for cheques, bills, hundis and other instruments, cheques, bank drafts or other mandates for payment in lieu of cash.
  4. Receipt by you or by an agent or cheques, bank drafts or other mandates for payments which are thereafter lost mutilated or dishonored and / or of securities of any description, is not to prejudice your right on any cheques, bill, hundis or other instruments in cash of dishonor, nor shall any arrangements with any parties to such cheques, bills, hundis or other instruments, (and I / We hereby consent to your so granting time or entering into arrangements) prejudice or affect your absolute recourse to me / us.
  5. Should your or an agent receive, in exchange for such cheques, bills, hundis or other instruments payment by an instrument which you or the agent cannot conveniently collect through normal channels it is clearly understood that such instrument may be collected in any manner and by any agency (including dispatch to the drawee) at my / our entire risk and responsibility and the agent or agents (including the drawee) employed in such collection shall be considered fully as my / our agent or agents.
  6. I/We hereby agree that all cheques, bills, hundis or other instruments and/or share certificates or documents which I/We may from time to time hand you for discount or purchase or against which you may make advances or pass consideration to me/us and the shares or goods hereby represented and the proceeds hereof are to be held by you as a continuing security for the payment on demand of the said cheques bills, hundis or other instruments so discounted or purchased and of all advances banking accommodation and/or expenses which you may make afford or incur to or for me/us in connection therewith and all other liabilities to you present and future, and you are to be at liberty to exercise all my our right (if any) as unpaid seller or Dated at his sellers of the said shares or goods and without further reference to me/us to shall, insure warehouse or otherwise deal with the said shares or goods as though you are the absolute owners thereof and you are expressly authorised by me/us (without being obliged to do so) to refuse to deliver share certificates of goods covered by the bills hundis or other instruments (whatever be their tenor) except against payment I/We agree that your accounts of sale and accounts of your expenses shall be accepted by me/us as conclusive evidence of the correctness of the matter therein written and I/we declare that this agreement and your rights thereunder shall in no way be affected by my or the death of any one of us or by any change in my/our name. Style or constitution.
  7. The transmission of any cheque bills, hundis or other instruments of share certificates or other documents or goods or the instruments received in exchange or payments therefore, and the advices and correspondences relating thereto, whether by post or otherwise and whether by land, sea or air or by telegram or cable shall be entirely at my / our risk and responsibility and any loss, damages or delay howsoever occurred shall be on my / our account and by wholly by me / us I/We agree that you and the agents shall be absolved from and indemnified against all loss or damage in connection with such cheques, bills, hundis, or other instruments or share certificates or documents of goods or any instruments received in exchange or in payment there in general and by reason of the following in particular :
    1. Loss or damage in transmission by any manner.
    2. telegraphic or cable error, irregularity, delay, mistake, omission, misreading, misinterpretation, or mutilation
    3. Loss, damage or deterioration to any share certificates or documents or goods during transit or wherever incurred.
    4. loss or damage to or mutilation to alteration of any such cheques, bills, houndis or other instruments or share certificate or documents or any instruments issued or received in exchange or payment therefore.
    5. loss or damage howsoever occurred due to any failure of or delay in transmission by post, sea air telegram cable or relative advices or correspondence, or the non-dispatch or non- receipt of such relative advices or correspondence.
  8. I / We do hereby dispense with the due presentment for acceptance and / or payment and also with giving me / us of any notice of dishonor either for non-acceptance and / or non-payment of any such bills / cheques / hundies or any other instrument and I / we shall pay the amount of such bills / cheques / hundies or any other instrument whenever demanded by you.

 

The Varachha Co-operative Bank Limited, Surat
Mobile banking & Net Banking (with transaction facility)

wherever appropriate for MOBILE BANKING AND NETBANKING FACILITY WITH FINANCIAL TRANSACTIONS

Applicant

Applicant is the account holder applying for the Mobile Banking Service and Net banking service provided by the bank

Primary Account

The account wherein the applicant is the first account holder

Customer

The holder of a bank account in The Varachha co-op. Bank Ltd.

Bank

The Varachha co-op. Bank Ltd.or any successor or assign

Base Branch

The branch where the customer has his/her primary account

Facility

Mobile banking   and Net banking   Facility provided to the customer

Application

Bank’s Mobile Banking software downloaded in the mobile phone of the customer after registration. Net banking application access from bank official website varachhabank.com under sub - head NET BANKING Tab after Registration. (Now online Application means Mobile banking and Net banking facility including Financial Transaction.)

Mobile Phone Number

Mobile number that has been given by the customer to register for Mobile Banking and Net Banking facility.

PASSWORD

Mobile banking and Net banking application are different but USERID and Password is common for the both application. If customer reset/change/block password for one application than it is same applicable for other application.

IMPS

Immediate Payment Service (IMPS) is an instant inter-bank electronic fund transfer service through mobile phones and net banking.

MMID

Mobile Money Identifier (MMID) is a seven digit number to be generated from the mobile banking and Net banking application. MMID is required for fund transfer through IMPS mode.

WAP and Internet connectivity

Wireless Access Protocol(WAP) is accessing your mobile banking and Net banking application through internet by using GRPS connection or Internet connectivity provided by your service provider

OTP

'One Time Password (OTP)'. This is to ensure that all your Net Banking and Mobile banking transactions are conducted in a safe online environment. OTP will come to customer's Registered Mobile at the time of Financial Transaction.

 

 

 

Applicability of Terms and Conditions:

By using online application Facility, the Customer thereby agrees to these Terms and Conditions, which form the contract between the Customer and Bank. Mobile Banking Facility shall be governed by such terms and 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.

Business Rules for ONLINE Application (Mobile and Net Banking facility):

  • Customer need to fill common one Application form for Mobile banking and Net banking facility. Bank give both application access by default in by one common application from by customer. USERID and PASSWORD remain same for the both application. If one
    application password reset/change/block than other application automatically effected
  • The Service will be available to Customers having a Savings (Debit/credit), Current account (Debit/credit)/Loan account (only Credit), Fixed Deposit Account (only view) with the Bank.
  • Entering the wrong login Password and wrong Transaction Password thrice will block both the online application .After this customers can reset/forget password after 12 hours and get new password.
  • At the time of financial transaction customer get OTP (one time password) in to his/her Registered Mobile number.
  • In the case of an account where mode of operation is "Either or Survivor", "Former or Survivor" or any form, the transactions in such accounts will be binding on primary account holders. The Customers are bound to advise the Bank separately, of any change in the mode of operation in an Account and get it affected for necessary modifications to the Application.
  • The Bank reserves the right to reject a Customer’s request for Mobile Banking without assigning any reasons.
  • The Customer can request for termination of the Service by submitting a closure form at branch. 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 endeavour to give a reasonable notice for withdrawal or termination of the service, but the Bank may at its discretion withdraw temporarily or terminate the service, either wholly or partially, anytime without giving prior notice to the Customer. The service may be suspended for any maintenance or repair work for any breakdown in the Hardware/ Software, 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.
  • The services offered under the Service will be automatically terminated if the primary account linked for the Mobile Banking and Net banking Services are closed. The Bank may also terminate or suspend the services under the Service 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.
  • The facility will be available to customers having asatisfactory running Savings/Current/Cash credit Or Overdraft account with the Bank.
  • The Bank reserves the right to reject a Customer’s application for the facility without assigning any reasons.
  • The applicant should personally submit the Registration form to the base branch.

Eligibility:

Type of Account

Constitution

Mode of operation

Who is eligible for Mobile Banking facility

Saving Account (Only Normal SB account )

 

Single

Single

The account holder

 

Joint

 

 

Either or Survivor

As per choice of all account holders. However, application is to be signed by all account holders.

Jointly

Not Eligible

Current Account (CA),

CASH CREDIT (CC)

OVERDRAFT (OD)

In the name of Individual

Single

The account holder

In the name of firm

Single

The account holder

 

Jointly Operated

Not Eligible

 

Partnership firm

Any one

Separate Authority Letter submit with all Partners signature

 

Private Limited company account

Any one (by Company Resolution Authority letter)

Separate Authority Letter with resolution submit with all Directors signature

 

Upper Limit for transactions :

Description

Amount Limit per Transaction

Amount Limit per Day

Internal Fund Transfer within Varachha Bank Account

વરાછા બેંકના ખાતામાં ટ્રાન્સફર

Rs.10,00,000/-

Rs.10,00,000/-

IMPS- P2A (Person to Account using with IFSC CODE)

Rs.2,00,000/-

Rs.10,00,000/-

NEFT

Rs.10,00,000/-

Rs.10,00,000/-

Maximum transaction limit should not exceed Rs. 10,00,000/- per day for single user.

એક યુઝર એક દિવસમાં વધારે માં વધારે રૂ. 10,00,000/- ફંડ ટ્રાન્સફર કરી શકશે.

 

  • The Customer can request for termination of the Facility by visiting the base branch and submitting the appropriate form for the said purpose. The Customer shall remain accountable for all transactions on the designated account made prior to confirmation of any such cancellation request.
  • It shall be the Bank’s endeavour 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 due to maintenance or repair work or any break down in the Hardware/Software or any emergency or for security reasons without prior notice and the Bank shall not be responsible for any loss/damage to the Customer.
  • The services offered under the Facility will be automatically terminated if the primary account linked for the Mobile Banking and Net banking Facility is closed. The Bank may also terminate or suspend the services under the Facility without prior notice if the Customer has violated the terms and conditions lay down by the Bank or on the death of the Customer when brought to the notice of the Bank or when prohibited by law or an order by a court or Authority.

Usage of Facility:

By accepting the Terms and Conditions while registering for the Facility, the Customer:

 

  • Agrees to use Mobile Banking and Net banking Facility offered by The Varachha Co-Operative Bank Ltd, Surat for financial and non-financial transactions, made available by the Bank under the Facility from time to time.
  • Authorizes the Bank irrevocably to debit the Accounts which have been enabled for Mobile Banking and Net banking Facility for all transactions / services undertaken using.
  • Authorizes the Bank to map the Account Number, Customer ID and Mobile Phone Number for the smooth operations of the Facility offered by the Bank and to preserve the mapping record in its own server or server of any other third party and to use such data at its discretion for providing/enhancing further banking/technology products that it may offer.
  • Agrees that he/she is aware and accepts that the Facility offered by the Bank will enable him/her to transact using OTP within the prescribed limit and will be deemed as bonafide transactions and will not be disputed.
  • Agrees that transactions initiated through Mobile Banking and Net banking application are real time/instantaneous transactions and as such are irrevocable/non-retractable. As such, Bank shall not entertain/accept any request for revocation of transaction or stop payment request for transactions initiated through Mobile Banking and Net banking Facility at any stage.
  • Understands and explicitly agrees that Bank has absolute and unfettered right to revise the prescribed ceilings from time to time which will be binding upon him/her.
  • Agrees to use the Facility on a mobile phone which is properly and validly registered in his/her name only with the respective Mobile Service Provider and undertakes to use the Facility only through the mobile number which has been given at the time of registration of the Facility.
  • 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, password and OTP and/or any other method, etc 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 hence the Customer is solely responsible for maintenance of the secrecy and confidentiality of the password without any liability to the Bank.
  • Accepts that any transaction originating from his/her Customer ID and/or registered mobile phone number shall be assumed to have been initiated by the Customer and any transaction authorized by using his/her password will be treated as duly and legally authorized by the Customer himself/herself.
  • The Customer hereby confirms, declares and acknowledges that the Phone number(s) provided to The Varachha Co-Operative Bank Ltd. Surat is/are owned/in the control of the Customer and that, unless otherwise expressly intimated to The Varachha Co-Operative Bank Ltd. Surat in writing or through internet or Phone facilities of The Varachha Co-Operative Bank Ltd. Surat, any communication from and to the said Phone(s) is and shall be with the knowledge of and within the control of the Customer. The Customer hereby confirms and undertakes to inform The Varachha Co-Operative Bank Ltd. Surat forthwith upon any change in the Phone number(s), loss of the Phone(s), the Phone(s) being outside the control of the Customer and/or any other change that may affect the provision of the Mobile Banking and Net banking Service to the Customer. The Customer shall, in all circumstances, accept full responsibility for any and all Instructions sent to The Varachha Co-Operative Bank Ltd. from the Phone(s) and hereby authorizes The Varachha Co-Operative Bank Ltd. to act on the Instructions and process any and all transactions, make Payments for Utilities/Services, debit the Customer's The Varachha Co-Operative Bank Ltd. Account / Valid Card and do any and all such things and take all such actions as may be necessary to carry out the Instructions including, but not limited to, obtaining all requisite Information and using such Remembrance Service(s) as may be necessary, unless the Customer has informed The Varachha Co-Operative Bank Ltd., prior to the receipt of any such Instructions, of any change with regard to the Phone(s) and/or Phone number(s) and such change has been intimated, in writing, to the Customer as having been taken on record by The Varachha Co-Operative Bank Ltd. The Customer shall not contest the same in any manner whatsoever.
  • The Customer shall be required to get acquainted with the process for using the Facility and that he/she shall be responsible for any error made while using the Facility.
  • The Bank reservesthe right to decide about services may be offered under the Facility. Additions/ deletions to the services offered are at its sole discretion.
  • The instructions of the Customer shall be effected only after authentication under his/her Customer ID and password or through any other mode of verification as may be stipulated at the discretion of the Bank.
  • While it shall be the endeavour of the Bank to carry out the instructions received from the Customer promptly, it shall not be responsible for the delay/failure in carrying out the instructions due to any reasons what so ever 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.
  • 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.
  • The Customer hereby authorizes the Bank or its agents to send promotional messages including messages related to the products of the Bank, greetings or any other messages the Bank may consider from time to time.
  • 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.
  • 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 customer information for reasons beyond its control or by action of any third party.
  • The Customer expressly authorizes the Bank to carry out all requests/transactions purporting to have been received from his/her mobile phone and authenticated with his/her OTP. All fund transfer/payment transactions, initiated from the customer’s registered mobile phone using his/her password, will be treated as bonafide transactions expressly authorizing the Bank to effect the fund transfer/ to make the payment.
  • The Customer shall be responsible for the safe custody and security of the Mobile Banking and Net banking application downloaded on his/her mobile phone to avoid unauthorized usage. It is the responsibility of the Customer to advise the Bank of any loss or theft of mobile phone by adopting the procedural aid down by the Bank for the purpose. The Customer shall solely remain responsible and accountable for all transactions which may take place from the stolen/lost mobile phone on the designated account prior to confirmation of request for de-registration from the Bank.
  • The Customer understands that he/she shall be required to initiate SMS/GPRS/WAP /INTERNET services for availing Mobile Banking and Net banking facility and hence shall be liable to pay charges to his/her respective Service Provider as per applicable tariff plan. The Customer also understands that Bank will neither be responsible/liable for any such charges levied by the Service Provider nor is liable for any dispute that may arise between such telecom service provider and the Customer.
  • It is the responsibility of the Customer to disclose his/her non residency status to the base branch in case there is change in residence status of the customer.
  • 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 information, the Customer understands that the Bank will not be in any way responsible for action taken based on the information. Bank will endeavour to correct the error promptly wherever possible on a best effort basis, if the Customer reports such error in information.
  • 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.
  • Customer accepts that the Bank shall not be responsible for any error which may occur in spite of the steps taken by the Bankto ensure the accuracy of the information and shall not have any claim against the bank in the event of any loss/damage suffered as a consequence of an in accurate information provided by the Bank.

Miscellaneous:

Accuracy of Information:

 

Responsibilities and obligations of the Customer:

  • The Customer will use offered facility using them password in accordance with the procedures laid down by the Bank from time to time.
  • The Customer will be responsible for all transactions, including unauthorized /erroneous/ wrong/ incorrect/mistaken/false transactions made through the use of his/ her mobile phone, SIM card, password, transaction Password and OTP, regardless of whether such transactions are in fact 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.
  • The Customer shall keep the customer ID and password confidential and will not disclose these to any other person. He/she will not record the same in a way that would comprise the security of the facility. Incase of using the facility by making use of SMS based system; the Customer will take utmost precaution to delete the SMS stored in Sent folder of the mobile phone, which may have password in readable form.
  • The Customer shall take all possible steps to ensure that the Application, all passwords and his/her mobile phone and computer are not shared with anyone and shall take immediate action to de-register from Mobile Banking and Net banking as per procedure laid down in case of misuse/ theft/loss of the mobile phone or SIM card.
  • The Customer will use the services offered under Mobile Banking and Net banking using the Password/Transaction Password/MMID in accordance with the procedure as laid down by the Bank from time to time, including the terms and conditions contained herein.
  • The Customer shall keep the password and Transaction Password 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.
  • It will be the responsibility of the Customer to notify the Bank immediately if he/ she suspect the misuse of the Password/Transaction Password. He will also immediately initiate the necessary steps to change his password/Transaction Password.
  • If the mobile phone or SIM is lost, the user must immediately take action to suspend from Mobile Banking and Net banking at the Home Branch of The Varachha Co-Operative Bank Ltd. Surat
  • The Customer accepts that any valid transaction originating from the password/Transaction Password and/or registered mobile phone number shall be assumed to have been initiated by the Customer and any transaction authorized by the Transaction Password is duly and legally authorized by the Customer.
  • 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 Bank’s website and at the branches and would be responsible for taking note of/compliance of such information/ modifications in making use of the Service.
  • 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.
  • The Customer shall be liable and responsible for all legal compliance and adherence of all commercial terms and conditions in respect of the mobile connection/SIM card/mobile phone, computer or laptop through which the service is availed and the Bank does not accept/ acknowledge any responsibility in this regard.
  • It is the responsibility of the Customer to notify the Bank, about any change in mode of operation, through a separate communication, making a specific reference to the Mobile Banking and Net banking availed. It is also the responsibility of the Customer to notify the Bank, any other change in the operation of the account which will otherwise make the account ineligible for the Mobile Banking and Net banking. Any failure on the part of the Customer to advise the Bank separately shall continue to bind all the account holders, jointly and severally for the transactions through this Service.
  • The Customer shall be prudent in downloading any content through Bluetooth or uploading/installing any other software/programme/game/music files/application received through trusted or un-trusted source and ensures that proper anti-virus software is used from time to time to remove malware residing in the handset.
  • It shall be the Bank’s endeavour to provide proper Mobile Banking and Net banking Application compatible with the Customer’s mobile phone or computer or laptop, however the Bank will not be responsible in some exceptional cases where the mobile banking application and Net banking application may not be compatible with or does not work on the mobile handset of the customer.
  • Add Beneficiary and also at the time of execute a fund transfer from the account to a Beneficiary account as per details provided. Bank takes no responsibility and shall also not be liable for claims, for any incorrect details/data keyed –in by the customer at the time of this execution. Such acts are irrevocable and will be executed at your risk and responsibility. Bank will change /Add new services time to time without informing to Customer. Like cheque stop payment, cheque book request, fixed deposit request, NEFT and RTGS etc. and also transaction limit change from time to time.
  • 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 Mobile Banking Service which are 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 Service and that the Bank makes no warranty as to the quality of the service provided by any such provider.
  • 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, loss 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, resolution or error of the Bank in receiving and processing the request and in formulating and returning responses or any failure, delay, 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 any service provider and the Bank's system or any breakdown, interruption, suspension 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 Service.
  • The Bank will not be responsible if the Application is not compatible with/ does not work on the mobile handset and computer or laptop of the Customer.
  • Bank will update rules, terms and conditions time to time and also update on bank official website www.varachhabank.com under quick links – terms and condition it is also liable to all user of Mobile banking and Net banking application.

Disclaimer:

Indemnity:

In consideration of the Bank 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 or be put to as a consequence of or arising out of or in connection with any services provided to the Customer pursuant here to. The Customer shall indemnify the Bank for unauthorized access by any third party to any information/instructions/triggers given.

Confidentiality and Disclosure:

To the extent not prohibited by applicable law, The Varachha Co-Operative Bank Ltd. shall be entitled to transfer any information relating to the Customer and/or any other information given by the Customer for utilization of the Payment Platform/Mobile Banking and Net banking Service to and between its branches, subsidiaries, representative offices, affiliates, representatives, auditors and agents of The Varachha Co-Operative Bank Ltd., Intermediaries and third parties selected by The Varachha Co-Operative Bank Ltd, wherever situated, for confidential use in and in connection with the Payment Platform/Mobile Banking Service and Net banking services. Notwithstanding anything contained above, The Varachha Co-Operative Bank Ltd.,. shall be entitled at any time to disclose any and all information concerning the Customer within the knowledge and possession of The Varachha Co-Operative Bank Ltd., (a) to any party in connection with the Payment Platform/Mobile Banking and Net banking Service provided by The Varachha Co-Operative Bank Ltd .,and/or its Intermediaries to the Customer, including inter alia, information relating to the cause for termination of Payment Platform/Mobile Banking and Net banking Service (b) to any other bank/association/financial institution or any other body in respect of any negative information in respect of the Customer. This clause will survive the termination of this Agreement. The Customer hereby waives the right of privacy, privilege and privacy.

Termination:

The Varachha Co-Operative Bank Ltd,. reserves the right to terminate the service of Payment Platform/any or all of the Mobile Banking and Net banking Service, either partially or in totality, at any time whatsoever, without prior notice. The Varachha Co-Operative Bank Ltd ., also reserves the right at any time without prior notice to add/alter/modify/change or varies all of these Terms & Conditions.