Terms & Conditions Governing Use & Operations of IOB Prepaid Card

Indian Overseas Bank's Prepaid card is issued on the following terms & conditions. Please read these terms and conditions carefully before using the Card. These terms and conditions apply to all transactions involving use of the Card. The Cardholder is deemed to have accepted unconditionally all the terms and conditions listed hereunder and will be bound by them once the Card is used.

Definitions:

1. "Bank" means Indian Overseas Bank (IOB) having its Central Office at 763, Anna Salai, Chennai - 600 002 and its successors and assigns.

2. "Card" refers to the IOB Prepaid Card issued by the Bank to the customer, prepaid instrument that allows the Cardholder to load a certain amount of money, which can be spent or used for transactions, within the specified limits

3. "ATM" means any Automated Teller Machine, whether in India or Overseas at which amongst other things, the card holder can use his card to access his funds held in his account with the bank.

4. "Cash Dispenser" means an ATM with restricted functionality of dispensing cash only.

5. "IOB ATM" means ATMs installed by IOB.

6. "Cardholder" or "Customer" means the person who holds the prepaid card and is responsible for the use.

7. "PIN" means Personal Identification Number (required to access ATMs or for use in PoS terminals) advised to the Cardholder by the Bank or changed by him from time to time.

8. "CVV" or "CVD" means Card Verification Value or Card Verification Data which is represented by three digits printed after the signature panel on the reverse of the card and is used for doing transactions through the Internet.

9. "Merchant Establishments" shall mean establishments wherever located which accept / honour the IOB-Prepaid card and shall include amongst others, stores, shops, restaurants, airline, railways, etc.

10. "PoS" shall mean Point of Sale swipe terminals or Electronic Data Capture (EDC) machines whether in India or overseas, whether of the Bank or any other Bank on the shared network that permits the debiting of accounts for purchase transactions, from merchant's establishments.

11. "Transaction" includes any instruction, directly or indirectly, given by a Cardholder to the bank to effect transaction in his/her account by using the card. (Examples of transaction can be retail purchases, cash withdrawals, cash/cheque deposits, e-commerce payments, etc.)

12. "RuPay" is trademark owned by NPCI.

13. "ATM Network" means ATMs that display VISA / Electron / Master / Maestro / RuPay logo.

14. References to RuPay regulations pertain to guidelines issued from time to time by NPCI to all the member banks of its network.

Terms & Conditions:

1. The Card shall be issued by the Bank solely at its discretion to customers provided he / she satisfies the applicable eligibility norms and The Bank in its sole discretion may refuse issuance or renewal of the Card and or impose conditions without assigning any reason.

2. The Card is and shall remain the property of the Bank at all times and will be returned by the Cardholder unconditionally and immediately upon Bank's request. The Bank reserves the right to withdraw / cancel the Card or any of the services thereby offered at any time without prior notice.

3. a) The Card shall be used only by the Cardholder and is not transferable or assignable.

a. b) The Cardholder shall take all necessary precautions to ensure the safety of the Card.

b. c) The Cardholder shall not inform / disclose to any person the Card Number/OTP /CVV and PIN given by the Bank for access to ATM or PoS and PIN used by him/ her for transacting throughout ATM OR PoS at any time and under any circumstances voluntarily or otherwise.

c. d) PIN is for personal use, strictly confidential and not transferable. The Cardholder shall not keep any written record of his / her PIN in any place or manner, which may enable a third party to use the Card. There is provision to change the PIN in any ATM of IOB and Cardholder must change the default PIN provided by the Bank immediately on receipt of Card. PIN shall not be used for any purpose other than for transactions designated by the Bank for use through ATMs / PoS / E-Commerce.

d. e) The cardholder shall keep the CVV or CVD confidential and must always have the card within his sight even when payments are made in hotels, restaurants, petrol stations or any other merchant outlets. The cardholder shall be responsible for any transactions that may arise consequent to skimming of his card information. The cardholder shall be responsible if the CVV or CVD provided for Internet transactions are not done through a secured e-commerce payment gateway.

e. f) The Bank shall not be liable whatsoever for any loss / damage arising out of issue of the Card and related PIN and CVV or CVD to the cardholder.

f. g) The Cardholder will be solely responsible for all transactions effected by the use of his Card whether authorised by the Cardholder or not and shall indemnify the Bank for all loss or damage caused by any unauthorised use of Card or related PIN of the Cardholder, including any penal action arising there from on account of any violation of RBI guidelines or rules framed under the Foreign Exchange Management Act 1999 or any other country / state / continent / territory wherever located in the world at the time notwithstanding the termination of this agreement.

g. h) All transactions arising from use of the Card to operate a designated joint account shall be binding on all the account holders jointly and severally.

4. The records of the Bank in computers for transactions put through by use of the Card at any ATM, PoS or Internet shall be conclusive and binding on all concerned for all purposes.

5. All fees related to Card are determined by the Bank from time to time and will be recovered to the debit of the Cardholder's account and the Cardholder shall unconditionally agree to pay / provide funds for such levy.

6. If the Card is lost / stolen or captured in an ATM, the Cardholder shall immediately report to the Bank by the quickest mode of communication and confirm in writing as soon as possible. Similarly any instruction to stop operation of Card facility shall be in writing. Till such notification is received and acted upon by the Bank, the Cardholder will be responsible for all transactions effected by the use of Card. The Bank is entitled to request any data related to the Cardholder and the account prior to blocking in order to verify the identity of the reporting person. The Bank will debit the Cardholder's SB / CA / CC account with the cost of issuing a replacement Card. Any replacement of the Card shall be subject to the terms and conditions, which are in force at the time of issuing the replacement card.

7. If the Cardholder subsequently is able to trace/find the Card within the validity period of the Card which is reported lost, the Cardholder shall inform the Bank and may submit a request for activation. In such case, the Bank in its discretion may activate the Card provided that no Card in lieu of lost Card was issued.

8. The Bank will not be liable for any failure to provide any service or to perform any obligation hereunder where such failure is attributable (directly or indirectly) to any malfunction of the machine or the Card, failure of communication lines or any other circumstances beyond the control of the Bank. The Bank will not be liable for any dispute, consequential or indirect loss or damage, arising from or related to the use of the Card. Any statement issued by the machine at the time of withdrawal shall be conclusive unless verified and found otherwise by the Bank. Any such verification shall likewise be final and conclusive and the Cardholder shall not have objection thereto.

9. In case the Cardholder decides to terminate the use of the Card, the Cardholder shall give the Bank not less than 2 working days' prior notice in writing. Such termination shall also be deemed as termination of the Card facility accorded by the Bank to the Cardholder. However, the Cardholder shall be liable to the Bank for all the transactions put through the Card.

10. In case the Bank decides to hot-list a Card or cancel the facility for any reason whatsoever, the Card facility shall stand automatically cancelled / withdrawn. The Bank will not be in a position to intimate the Cardholder personally before hot-listing such Card. Appropriate service charges shall also be levied to the Cardholder's account and Cardholder shall be liable for the same.

11. The Cardholder shall provide such information, records or certificates relating to any matter that the Bank deems necessary. The Bank reserves its right to verify the veracity of the information furnished by whatever means or from whichever source deemed necessary. If the data is not provided or if found incorrect, the Bank may at its discretion refuse renewal of the Card or cancel the Card forthwith.

12. The Bank reserves the right to disclose in strict confidence to other institutions, such information concerning the Cardholder's account as may be necessary or appropriate in connection with the Card transactions or its participation in any Electronic Funds Transfer Network, or to any court of competent jurisdiction, quasi-judicial authority, law enforcement agencies and any other wing of Central Government or State Government.

13. Any notice hereunder sent by post will be deemed to have been received by the Cardholder within 7 days of posting to the address notified in writing to the Bank by the Cardholder. Notification of changes by such means as the Bank may consider appropriate will constitute effective notice to the Cardholder thereof.

14. The Bank shall be entitled to terminate the Card facility with immediate effect and cancel the Card upon the occurrence of any of the following events:

a. Failure to adhere or comply with terms and conditions as may be stipulated from time to time.

b. Upon hot-listing the Card or in the event of default under any agreement or commitment (contingent or otherwise) entered into with the Bank.

c. Upon the Bankruptcy or any insolvency / other proceedings of similar nature imposed on the Cardholder.

d. Death of the Cardholder.

e. Any other event by which the Bank concludes that allowing possession of card with the cardholder is detrimental to the image / interest of the Bank.

15. The Cardholder has / have read, understood and agreed to be bound by these terms and conditions subsisting. The Bank may in its absolute discretion withdraw the Card, the service thereby provided or to add / modify / delete any of the terms and conditions at any time without prior notice to the Cardholder and the same shall be binding on the Cardholder. Use of the Card after the date specifying such modifications / changes will constitute acceptance of such change.

16. The Cardholder accepts the onus of ensuring compliance with the relevant Reserve Bank of India (RBI) Regulations, Foreign Exchange Management Act 1999 (FEMA), all the rules and regulations framed under the Act and as amended / modified / applicable from time to time and any other corresponding enactment in force from time to time.

17. The Cardholder shall inform the Bank immediately if there are any changes in the information provided in the Application for issuance of the Card including change in his employment and / or office or residential address and telephone numbers.

18. The Bank may from time to time, at its discretion, tie-up with various agencies to offer various features on the Prepaid cards. All these features would be on best efforts basis only and the Bank does not guarantee or warrant the efficacy, efficiency or usefulness of any of the products or services offered by any service providers / merchants / outlets / agencies. Disputes, if any will have to be taken up with the merchant / agency, etc. directly, without involving the Bank.

19. The Bank makes no representations about the quality of the goods and services offered by third party providing benefits such as discounts to Cardholder. The Bank will not be responsible if the service is in any way deficient or otherwise unsatisfactory.

20. The Cardholder shall be availing this facility at his own request without any liability either expressed or implied on the part of the Bank and agrees not to make any claims against the Bank in respect thereto.

21. All disputes are subject to the exclusive jurisdiction of the Courts of Chennai, irrespective of whether any other Court may have concurrent jurisdiction in the matter and governed by the Laws of India.

22. The Cardholder will be liable for all the costs associated with the collection of dues, legal expenses or charges where legal resources have been utilized in the resolution of a dispute.

23. The Cardholder will also remain bound by the terms and conditions of operation of his / her Savings Bank Account / Current Accounts / other accounts with the Bank and the changes made thereto from time to time.

24. Cardholder is also bound by the Rules and Regulations of the Bank as amended from time to time.

25. The powers and authorisation conferred on the Bank are irrevocable.

DOs and DON'Ts for Prepaid Cardholders:

DOs

1. Treat your Card just like cash/chequebook/Jewel and protect against loss/misuse.

2. Learn to use the card yourself in without depending on others.

3. Ensure that the contact details available with your Bank are always current and accurate. Please inform and get changes updated immediately.

4. Keep a list of your card numbers and help desk numbers in a secure place and update this list at frequent intervals, which will be very useful when you need to contact help desk to report the loss of your card.

5. Loss of cards should be reported to the bank at the earliest through Phone/E-Mail/Internet/In person.

6. Change your PIN number and other passwords at frequent intervals and whenever you suspect unauthorized persons copying the same.

7. Ensure complete privacy while entering the PIN number in ATM, by shielding the PIN keypad with your hand or body to ensure against copying by others.

8. Please take back the card from the ATM.

9. Be alert while using the ATM and if you find signs of external fittings or loose wiring on the ATM/Card reader, please avoid using the ATM and report to the nearest branch of the Bank immediately.

10. Use the card for purchase in reliable Merchant Establishments only.

11. Ensure the card is swiped only once and that too in your presence in a swiping machine. If swiped for more than once, make enquiry and find out the reason.

12. Ensure that you personally enter the PIN in the PoS terminal.

13. Sign the charge slip only after verifying the correctness of the amount printed in the slip.

14. Remember to take back the card from the Merchant.

15. For online transactions, ensure that the site you select is secured (site with 'https' is preferred against 'http' site).

16. Update your PC/Laptop used for online payment, with latest patches of Operating system and latest version of antivirus softwares.

17. While making online transactions, apart from CVV or CVD number, 3-factor authentication through Verified by Visa password / Rupay Paysecure Image / Phrase is also required. Ensure that CVV or CVD and VbV Password / Paysecure Image / Phrase are kept confidential.

18. Destroy expired cards by cutting the same into pieces.

DON'Ts

1. Do Not lend your card to anyone.

2. Do Not disclose your card number unnecessarily to anyone over phone or e-mail.

3. Do Not give photocopies of both sides of the card to anyone lest the CVV or CVD printed on the reverse of the card is copied unauthorisedly. If any service provider/establishment insists on photocopy of both sides of the card, ensure that the CVV or CVD number is completely scratched out/covered before taking photocopy. Remember the CVV or CVD before scratching it out.

4. Do not write your PIN number on the card.

5. Do not share your PIN number and other Passwords with anyone including Bank Officials.

6. Do not use PIN number that can be easily guessed like '1111', '2222', '1234', your date of birth, Telephone number, etc.

7. Do not enter wrong PIN repeatedly in the ATM lest the PIN will get blocked.

8. Do not allow the card to be taken out of your view for swiping in Merchant Establishments.

9. Do not use your card for online transactions in publicly used computer eg. Cybercafé.

Guidelines to Customers/Public to guard themselves against PHISHING:

Phishing is a criminally fraudulent process of attempting to acquire sensitive information such as usernames/passwords/card details etc., by masquerading as a trustworthy entity in an electronic communication. In such incidents, fraudsters send messages through e-mail or web pages that appear to have been emanated from reputed firms/sites. The intention of the fraudsters is to gather sensitive personal information without raising suspicion and defraud the customers. Many reputed organizations/ Banks/E-commerce sites, Auction Sites, Social Networking Sites like eBay, Paypal, Face book etc. were affected due to Phishing.

We caution our Customers/Public to avoid falling prey to such attack by observing the following precautions:

1. Banks or any other genuine organization will NEVER on their own ask for confidential/sensitive information like PIN, Password etc. from customers, through e-mail or telephones etc.

2. If Bank is sending a genuine mail to its customers, generally they will address with the customer's name or other personal details already available with the bank.

3. In all e-transactions, customers initiate the action where minimum sensitive details are asked for identification and authentication purpose to permit the transaction. Further, in such cases, the communication takes place through secured channel between the website and browser of the user.

4. All Cardholder have to mandatorily register their Mobile Number with the Bank for receiving SMS alerts for the transactions in their Account. The Bank may not offer the facility of Electronic transactions other than ATM Cash Withdrawal to Cardholders who do not register their Mobile number with the Bank.

How to counter the Phishing Attack:

1. Customers should be suspicious of any mail requesting URGENT information on personal/financial sensitive information. It is reiterated that Banks will never ask for sensitive personal information (PIN, Password etc). Hence customers should avoid responding to such requests received.

2. Customers should make it a habit to enter the Unique Resource Link (URL) address of Banking/Shopping/Auction/Financial/Social network websites directly in the web browser and not depend on displayed links.

3. Even if no suspicion is raised and the mail appears genuine, the link in an e-mail should never be clicked. Instead, the correct web address (URL) should be physically typed in the browser's address bar. This precaution should be observed since the URL shown in the mail may be genuine, however, on clicking the link, the fraudster may take the user request to another URL.

4. Once it is suspected that phishing mail is received, staff members/customers/public should forward the mail to the Bank or CERT-in (www.cert-in.org.in) a Central Government Organisation handling Computer related incidents in india. (incident@cert-in.org.in). While forwarding the phishing message, the entire original email with its original header information should be sent intact.

5. Forwarding the phishing mail, instead of ignoring/deleting, will help the Bank to warn and protect other customers.

6. Customers should regularly log into his/her online accounts and check the profile, transactions, balance, credit card statements to ensure that all operations are legitimate and bring to the knowledge of the Bank regarding any suspicious transaction.

7. Similarly, sensitive personal information solicited over phone or through SMS should also be handled cautiously as above.

8. It is better to avoid publicly used computers (eg. Cyber café) for accessing online banking transactions.

9. Similarly, the PC/Laptop used for online banking should be updated with the latest patches of the Operating Systems and latest antivirus versions.

10. All Customers are advised to register for SMS alert facility, if not already registered, to keep immediate track of the transactions put forth in their accounts.

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