debit card form 007

www.southindianbank.com CIN:L65191KL1929PLC001017 Toll Free 18001029408, 18004251809

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Terms and conditions governing the issue and usage of SIB’s Debit Cards

Terms & Conditions for Debit Cards

These Terms and Conditions apply to and regulate the issuance and

usage of debit cards oered by The South Indian Bank Ltd. to account

holder and/or any person authorised by the accountholder, when

there are more than one signatory to an Account.

These terms and conditions (the “Terms”) shall be in addition to any

other terms as stipulated by The South Indian Bank Ltd. from time to

time.

The words and phrases included in this document have the meaning

set opposite them unless the context indicates otherwise:

1. “Card” or “Debit Card”, refers to The South Indian Bank Ltd.

MasterCard / Visa / RuPay Debit Card issued by The South Indian Bank

Ltd. to an account holder.

2. “Bank” means The South Indian Bank Ltd, a banking company

Incorporated in India under the Companies Act 1956 and having its

registered oce at SIB house, T.B. Road, Mission Quarters, Thrissur -

680 001 and all its branch oces and includes its successors and

assigns.

3. "Cardholder" refers to the accountholder of The South Indian Bank

Ltd.

4. “Account(s)”, refers to the Cardholder's Savings or Current Accounts

that have been designated by The South Indian Bank Ltd. to the

eligible account(s) for the valid operation of the Debit Card. The

Cardholder should be either the account holder, or sole signatory or

authorised to act alone, when there is more than one accountholder /

signatory.

5. “Transaction” means any instruction given by a cardholder to the

Bank using the Card directly or indirectly to eect action on the

account. (Examples of transactions can be retail purchases, cash

withdrawals, cash / cheque deposits, etc.).

6. "ATM"/ "Participating ATMs" means any Automated Teller Machine,

whether in India or overseas, whether of The South Indian Bank Ltd. or

a specied Shared Network like VISA/MasterCard/RuPay, at which,

amongst other things, the Cardholder can use his Card to access his

funds in his Account, held with The South Indian Bank Ltd.

7. “PIN” means the Personal Identication Number (required to access

ATMs) allocated to the Cardholder by The South Indian Bank Ltd.,

chosen by him from time to time.

8. “Account Statement” means a periodic Statement of Account sent

by The South Indian Bank Ltd. to a Cardholder, setting out the

transactions carried out by the Cardholder(s) during the given period,

and the balance on that account. It may also include any other

information that The South Indian Bank Ltd. may deem t to include.

9. "Merchant Establishment" shall mean such physical and/or virtual

establishments, wherever located, which honor a VISA / MasterCard /

RuPay and shall include, among others, stores, shops, restaurants,

hotels and airlines cash advance points including ATMs and mail order

advertisers (whether retailers, distributors or manufacturers).

10. "Merchant" means any person who owns or manages or operates a

Merchant Establishment.

11. “EDC” or “Electronic Data Capture”, refers to electronic

Point-of-Sale swipe terminals, whether in India or overseas, whether of

The South Indian Bank Ltd. or any other bank on the shared network

like VISA/MasterCard/RuPay, that permit the debiting of the

account(s) for purchase transactions from merchant establishments.

12. “MasterCard / Visa / RuPay” means a trademark owned by and

normally associated with MasterCard / Visa / RuPay International.

13. “MasterCard / Visa / RuPay ATM Network” means ATMs that honour

the Debit Card and that display the MasterCard / Visa / RuPay symbols.

14. “Terms” refer to the terms and conditions for issuance and usage of

the card as more particularly stated hereinafter.

15. Use of terms “you”, “your”, “him” “he” or similar pronouns shall

where the content so admit, mean the Cardholder and reference to

masculine gender would include the feminine gender.

APPLICABILITY:

• The Terms form the contract between the Cardholder and The South

Indian Bank Ltd.. 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 activation through ATM or after 15

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 The

South Indian Bank Ltd. Customer Care Center, The South Indian Bank

Ltd. internet banking and/or any other channels, shall at all times

continue to be bound by the terms and conditions stipulated by South

Indian Bank Ltd. from time to time for such services / facilities.

• The issue and usage of card shall be subject to the Reserve Bank of

India (“RBI”) regulations, Exchange Control regulations of the RBI,

Foreign Exchange Management Act, 1999 (“the Act”) all the rules and

regulations framed under the Act and as serviced from time to time

and any other corresponding enactment in force from time to time.

• In the event of noncompliance by Cardholder with the same, the

Cardholder shall be liable for action under the Foreign Exchange

Management Act, 1999 and such other laws of the land.

• The card may be used by Cardholders going abroad within the

foreign exchange entitlements as stipulated by RBI from time to time,

for all bonade personal expenses, for personal use, provided the total

exchange drawn during the trip abroad, does not exceed the

entitlement. The cardholder shall also endorse his passport for

availing Foreign Exchange under Basic Travel Quota (BTQ). The

entitlement of exchange should be ascertained (prior to the trip) from

the authorised dealer branches of the Bank. The card cannot be used

for eecting remittances for which the release of exchange is not

permissible under the present regulations.

ISSUANCE OF INTERNATIONAL DEBIT CARD TO BHUTANESE

NATIONALS :

• The reimbursement of expenses incurred by Bhutanese Nationals on

their International Debit Card abroad, should be exclusively out of

inward remittance to their accounts in India.

• The card can be used in India and abroad but cannot be used in

Nepal and Bhutan for withdrawal of foreign currency;

ACCEPTABILITY:

•The card shall be acceptable only for transactions as permitted by

the Bank from time to time in India and abroad at the Participating

ATMs, Online sites and POS terminals. The Bank reserves the right to

change the transaction set without any notice to the cardholder.

PROPRIETY:

•The card is the property of the Bank and must be returned to an

authorized person of the Bank without demur on request.

USAGE GUIDELINES:

The period within which the cardholder's account would normally

be debited and period applicable with respect to cheque issue

request will be as determined by bank from time to time.

• The Cardholder shall at all times ensure that the Card is kept at a

safe place and shall under no circumstances whatsoever allow the

Card to be used by any other individual.

• The Cardholder will sign the Card immediately upon receipt. The

Cardholder must change the PIN assigned by The South Indian Bank

Ltd. after the rst usage and choose another PIN as a safety measure

for secured usage of the Card. The PIN should never be disclosed to

any person including the sta of the Bank as well as other Banks

whose ATMs are termed as Participating ATMs, ocials of

MasterCard/VISA/RuPay terminals at Merchant Establishments or

written down in any form under any circumstances whatsoever. Any

such disclosure or inadequate protection of the condentiality of

the PIN is entirely at the cardholder’s risk.

• The Cardholder will be responsible for all facilities granted by The

South Indian Bank Ltd. and for all related charges and shall act in

good faith in relation to all dealings with the Card and The South

Indian Bank Ltd.

• The South Indian Bank Ltd. reserves the right to change the types of

Transactions supported by the Card subject to a notice being given

to the Cardholder. The Cardholder shall notify The South Indian

Bank Ltd. immediately of any error or irregularity in maintaining the

Account/ Card by The South Indian Bank Ltd. Ltd. at Bank's 24-Hour

Customer Care Centres or by way of written communication or by

fax to his branch of The South Indian Bank Ltd. or such other mode

as may be acceptable to The South Indian Bank Ltd.

• The cardholder agrees that he will be allowed to withdraw/pur-

chase only a certain amount of cash per calendar day as announced

from time to time irrespective of the credit balance in the accounts.

• The cardholder agrees not to attempt to withdraw /purchase using

the card unless sucient funds are available in the account. The

onus of ensuring adequate account balance is entirely on him. In the

event of account getting overdrawn, he will have to rectify the

account balance position immediately with charges, penal interest

levied by the Bank from time to time.

• When requested by the Bank, the cardholder shall provide any

information records or certicates relating to any matters in relation

to his card account.

• International Debit Cards can be used only for permissible current

account transactions under the Foreign Exchange Management Act

(FEMA), 1999 (and/or any other applicable laws) and the item-wise

limits as mentioned in the Schedules to the Government of India

Notication No.G.S.R. 381(E) dated May 3, 2000, as amended from

time to time, are equally applicable to payments made through use

of these Cards.

• International Debit Cards can be used on Internet for any purpose

for which exchange can be purchased from an authorized dealer in

India. International Debit Cards cannot be used on internet for

purchase of prohibited items like lottery tickets, banned or

proscribed magazines, participation in sweepstakes, and payment

for call-back services, remittance in any form towards overseas forex

trading, margin calls to overseas exchanges/overseas counterparty,

trading in foreign exchange in domestic/overseas markets etc. or

any illegal activities; no withdrawal of foreign exchange is permitted

for such items /activities. The Cardholder is under an obligation not

to countermand an order/ Transaction which he/she has conducted

with the Card.

LOST/STOLEN CARD:

• Loss or theft of the card must be reported to any of the branches of

the Bank by the cardholder in writing along with a copy of a First

Information Report (F.I.R) lodged with the local police. Pending

obtention of FIR, the card holder may also fax or submit his written

intimation of loss or theft to the issuing branch/24 hour Toll Free

centre (+91 9446475458). The cardholder will be liable for all the

transactions until the card is hot-listed by the Bank. The Bank will

upon adequate verication hotlist/cancel the card following the

receipt of such intimation and recover charges for hot listing as

applicable from time to time from the cardholders account.

• Issue of replacement card for lost/stolen card will be made by the

Bank at its sole discretion upon payment of prescribed charge.

EXCLUSION OF LIABILITY:

Without prejudice to the foregoing the Bank shall be under no

Liability whatsoever to the Cardholder in respect of any loss or

damage arising directly or indirectly out of

• Refusal by any ATMs/ Merchant Establishment , or other member

bank to honour or accept a Card

• Eecting transaction instruction other than by a Cardholder or

misuse of card due to the cardholders negligence, mistake,

dishonesty, misconduct, fraud or handing over the card to

unauthorized person.

• Non functioning of the ATMs/Merchant Establishment and Other

Shared Payment Network System like VISA/MasterCard/RuPay or

Banks network due to machine, mechanical errors/failures or any

other reasons beyond the control of the bank.

• The exercise by the Bank of its right to demand and procure the

surrender of the card by itself or by any person or computer terminal

prior to the expiry date exposed on its face.

• The exercise by the Bank of its right to terminate any Card.

• Any mis-statement, mis-representation, error or omission in any

details disclosed by the Bank.

FEES

• Transaction fees for cash withdrawals / balance inquiry and / or

other related charges wherever applicable, will be debited to the

account at the time of posting the cash withdrawal / balance inquiry

or as the case may be.

• All transactions in foreign currency will be billed and recorded to

Cardholder's Bank Account statement in Indian Rupees. I/We hereby

authorise The South Indian Bank Ltd. and MasterCard / Visa / RuPay

to convert the charges incurred in the foreign currency into the

Indian Rupee equivalent thereof, at such rates as Bank / MasterCard

/ Visa / RuPay may from time to time designate. The exchange rate

used for all foreign currency

transactions decided by the Bank will be binding on the cardholder.

• The Charges / Fees applicable on the usage of the Debit Card may

be revised / changed by The South Indian Bank Ltd. from time to

time, with prior information to the Cardholder(s). Notice/Informa-

tion put up on the Bank's Branch Notice Board/ATM counters/Web-

site/E-mailers to customers' registered E-mail ID/SMS will be treated

as adequate and complete notice for this purpose.

BANK’s LIEN

• The Banks’ right of set-o and lien shall extend to all outstanding

dues whatsoever arising as a result of the card services extended to

and/ or used by the Cardholder.

• If there is no sucient balance in the account to set o the amount

due to The South Indian Bank Ltd., a lien will be marked for net

amount and any subsequent credit to the account will be rst set o

towards the amount due to The South Indian Bank Ltd.

TERMINATION OF FACILITY:

• The cardholder may discontinue this facility any time by a written

notice to the Bank accompanied by the return of the card cut

diagonally into two pieces. The cardholder will be responsible for all

Transactions undertaken using the card, card facilities availed,

charges etc. notwithstanding the termination of this agreement.

• The Bank shall be entitled to discontinue this facility with

immediate eect at any time on account of non fullment of terms

and conditions by the cardholder, by cancelling the card with or

without assigning any reason whatsoever by its convenient mode of

communication and shall be deemed to have been received by the

Cardholder upon posting to the Cardholders’ address in India, last

notied in writing to the Bank.

DISCLOSURE:

• The bank reserves the right to disclose customer information to

any court of competent jurisdiction, quasi judicial authorities, law

enforcement agencies and any other wing of Central Government

or state Government or such other agencies directed by RBI from

time to time.

• Unless specically opted out each Card Holder’s usage of Card at

POS terminals will enable Card Holder to accrue reward points

(subject to existence of any reward point accumulation scheme

declared by The South Indian Bank Ltd from time to time). For the

Card Holder to redeem, reward points, if any, accrued in his account

with any scheme partner of The South Indian Bank Ltd, the Bank

requires to share Card Holders details with scheme partners. Card

Holder unconditionally authorise The South Indian Bank Ltd to

share Card Holder’s details with scheme partners as required by The

South Indian Bank Ltd.

UNCONDITIONAL ACCEPTANCE:

• These terms and conditions will be in addition to and not in

derogation of the terms and conditions relating to any accounts of

the customer and forms a contract between the Bank and the

cardholder.

• The cardholder shall be deemed to have unconditionally agreed to

have accepted the terms and conditions by signing the card

application form and/or acknowledging the receipt of the card in

writing and/or signing the card on the reverse and/or performing a

transaction with the card or after 15 days have elapsed since the

date the card was dispatched to his recorded address on account at

the time of issue / renewal/ replacement of the card.

• The Bank reserves the right to revise policies, features and benets

oered on the card and alter these terms and conditions from time

to time and may notify the card holder any such alterations in any

manner it thinks appropriate. The cardholder will be bound by such

alterations.

SETTLEMENT OF DISPUTES:

• The cardholder agrees that any dispute in relation to issue and

usage of the card or whatsoever matter connected to it will be

settled by the arbitration as per the rules of Indian Arbitration and

Conciliation Act 1996. Further that the MD & CEO of The South

Indian Bank Ltd. or any other person nominated by him will be the

sole arbitrator and that the place of arbitration will be Thrissur,

Kerala.

REPLACEMENT OF EXISTING TERMS:

These terms and conditions (the “Terms”) shall be in addition to any

other terms as stipulated by The South Indian Bank Ltd. Ltd. from

time to time.

GOVERNING LAW & JURISDICTION:

The terms and conditions mentioned hereinabove, the usage and

operation of the card shall be governed by the laws of India and all

disputes shall be support to the exclusive jurisdiction of Courts in

Thrissur. I / We understand that upon issue of the SIB Debit Card to

me/us, the ordinary ATM cards linked to my/ our account will be

de-activated.