General Terms & Conditions

Customers who have a bank account with The Sarvodaya Sahakari Bank Ltd. hereinafter referred to as ("SARVODAYA") and are connected to the Internet may use the Internet service subject to the following general terms and conditions, I agree to be bound by the following General Terms and Conditions:

1) ACCEPTANCE

• By signing the application form, you formally agree to the terms of this agreement and your acceptance and use of the Internet Banking Service will be governed by it.

2) WORDING:

• “Account” means any account opened with the Bank including any additional accounts
• “Bank” means The Sarvodaya Sahakari Bank Ltd, its successors and assigns.
• “Bank’s Branches” means (including the main registered office of the SARVODAYA) all places within the Republic of India where the Bank’s business is operated and conducted.
• “Beneficiary” means one whom the Customer can transfer funds to from his/her account
• “Business Day” means the days on which the Bank is open for all classes of banking business (excluding statutory and other public holidays) as the Bank may determine from time to time.
• “Banking Hours” means the hours for which the Bank is generally open for all classes of business as may be determined by the Bank in respect of each of the Bank’s Branches from time to time.
• “Bank’s Tariffs” means (including but not limited to) the schedule of charges and fees levied by the Bank in relation to the Account.
• “Corporate Administrator” means the person appointed by the account signatories of an account to create other Internet Banking operators
• “Customer” means each and every holder of an account. Acting individually or together, whether one or more individuals or any sub-users appointed by them, who opened the Account and where account is joint, corporate or other business account, account holder or holders as the case may be.
• “Cut-Off time” for all branches is 4 pm from Monday to Friday and 1:30 pm on Saturdays.
• “Internet Banking” means a product of the Bank, which provides the subscriber with the facility to access details of his/her account information through the internet and mobile phone.
• “INR” means Indian Currency, the lawful currency of INDIA
• “Non-business day” means all weekends and all public holidays
• “Password” means the secret password known only to the customer for access to the system. The Customer may change the password at will.
• “User” means a subscriber to the Bank’s Internet Banking. For corporate entities, the User will be its authorised officers.
• “User Id” means a unique identifier of the Customer in the Internet Banking system, and typically it is the retail customer’s Customer Identification File (CIF) as recorded in the Bank’s Core Banking System
• “Sub User” means a person who has been given particular rights to access the Customer’s account
• “Subscriber” means the account holder to whom any of the Internet Banking services are provided. Where the service mandate is requested by more than one authorised individual to an account, they shall be jointly and severely bound by the terms and conditions mentioned here under.
• “Specific Terms & Conditions” means the particular Terms and Conditions relating to a specific type of Account.

3) GENERAL PROVISIONS APPLICABLE TO THE INTERNET BANKING SERVICE

• Where the Internet Banking Service made available is linked to an account in two or more names with the bank, it is acknowledged that, irrespective of whether the mode of operation of such account is joint or single, the internet banking service may be accessed by each user according to the privilege granted to them by the account holder who has subscribed to the internet banking service.
• The Bank will not be liable to the account holder if the bank is unable to perform its obligations under this agreement due (whether direct or indirect) to the failure of any machine, data processing system or transmission link; any period of essential maintenance, critical change, repairs any error or discrepancy in subscriber’s instructions, any industrial dispute; anything outside the bank’s control or that of its agents or sub-contractors.
• The subscriber hereby, irrevocably and unconditionally without any right of objection, accepts any and all transactions arising from the use of the Internet banking service, without limitation.

4) SUBSCRIPTION

• No accounts shall be activated unless the requisite documentation of the application form duly signed by all the account holder(s) is received by the Bank.
• The subscriber acknowledges that any printouts/statements or files or any other form in which any information or transactions pertaining to the account has been copied shall not be used in any dealings with third parties in whatsoever manner and the subscriber agrees to indemnify the bank against all loss or damage which may occur as a result of any violation to the above.

5) SERVICES AVAILABLE

The Internet service consists of modules, each intended to carry out a specific type of transaction within the limits defined by the conditions set out in these regulations. Currently, they enable the Customer to:

• Obtain Bank Statements or to check the balance on accounts
• Verify recent or past transactions on accounts (consultation limited to a period of three months),
• However, the internet service does not cover transactions, undertakings, instructions or messages subject to legal or contractual formalities or those requiring a written signature and possibly the authentication thereof, in particular proxies, contracts, endorsements, guarantees, bills of exchange, cheques (non-exhaustive list given purely by way of an example).
• Furthermore, the Bank reserves the right, without having to give its reasons, not to respond to a request for access to the internet services or to limit access to this service to transactions involving a certain amount.

6) TIMINGS

The subscriber understands that the date and the time on print outs of transactions or confirmation advices bear the date and time of the bank’s main computer and that any transaction carried out before the cut-off time in the bank’s record will be completed the same day and those after the cut-off time or on a non-business day, will be completed as next business day value transactions.

7) INSTRUCTIONS

• The Internet Banking service is provided entirely at the risk of the subscriber who shall indemnify the bank for all loss or damage, howsoever caused, resulting from the use of the Internet Banking service.
• The Bank shall not be responsible for any erroneous funds transfer arising out of wrong input of the account number, amount or institution by the subscriber in the application. The subscriber further confirms and agrees to waive any right which the subscriber may otherwise have for holding the bank responsible for any mistake or omission caused by the service and any delay by the Bank due to reasons beyond its control in onward transmission of the funds to the beneficiaries account.
• The Bank will use its best endeavours to process any transaction received by the bank via this service for utility payments before the cut-off time on the next business day.
• Any transaction conducted through this internet banking service will be recorded in the subscriber’s statements.

8) SECURITY

• The account holder must keep his password secret, never disclosing it to anyone and take all reasonable care to prevent its unauthorised and fraudulent use.
• The account holder must tell the bank immediately of any authorized access to the Internet banking service or any unauthorised transaction or instruction which they know of or suspect.
• All information relayed between the Customer and the Bank is encrypted (made unreadable) in order to ensure greater security. The HTTPS (Hyper Text Transfer Protocol + SSL - Secure Socket Layers) communication protocol uses the SSL encryption system.

9) SERVICE FEES AND CHARGE

• The bank may debit the account holders account with any charges, fees or expenses payable for services rendered by the Bank.
• The Bank shall always be entitled to levy or impose all customary banking and other charges and expenses in respect of any of the other accounts and these may be debited by the bank to the relevant account in accordance with the Bank’s normal banking procedure.
• The subscriber authorizes the Bank to debit the subscriber’s account with the applicable fees and charges in accordance to the schedule of fees and charges for the Internet Banking service.

10) AMENDMENT

• The Bank may amend these General Terms and Conditions or any Specific Terms and Conditions or the Bank Tariffs (either in whole or in part) at any time and from time to time. Notification of any such variation shall be given to the Customer either in writing or by publication thereof by such means as the Bank may decide.
• Any such amendment shall be deemed to be effective and binding on the Account Holder(s) on receipt and any subsequent transactions will be deemed to constitute acceptance.
• Where there is any conflict between these General Terms and Condition and any Specific Terms and Condition, the Specific Terms and Conditions shall apply.

11) NO WAIVER

• No relaxation, concessions, delays or indulgence on the part of the Bank in exercising any of its rights under these General Terms and Conditions shall operate as a waiver of such rights and shall not affect the Customer’s obligations to the Bank.

12)  INDEMNITY

1)  The Customer shall indemnify and keep indemnified the Bank against the following:

• All demands, claims, actions, losses and damages of whatever nature which may be brought against the Bank or which it may suffer or incur arising from the Bank’s reliance on any incorrect, illegible, incomplete or inaccurate information or data contained in any Request received by the Bank
• Any loss or damage that may arise from the Customer’s use, misuse, abuse or possession of any third party software, including without limitation, any operating system, browser software or any other software packages or programs
• Any unauthorized access to the Customer’s accounts or any breach of security or any destruction or accessing of the customer’s data or any destruction or theft of or damage to any of the Customer’s equipment
• Any loss or damage occasioned by the failure by the Customer to adhere to any terms and conditions applicable to the Service and/or by supplying of incorrect information or loss or damage occasioned by the failure or unavailability of third party facilities or systems or the inability of a third party to process a transaction
• Any loss or damage that may arise from the use of the service by the Customer, any joint account holder, Beneficiary, Sub User

13)  ASSIGNMENT

• The Bank may assign and / or transfer all or any of its rights, benefits and obligations under these General Terms and Conditions and / or any Specific Terms and Conditions, to any person at any time.

14)  LAW

• These terms and conditions shall be constructed and the provision of the Account facilities shall be regulated in accordance with the Laws of Kenya for the time being in force.

15) FORCE MAJEURE

You agree that we shall have no responsibility or liability to you or any third party for failure or delay in our performance  under these Terms and Conditions or for any losses due to causes or conditions beyond our control including, without limitation, delays and/or interruptions of business due to any act of God, natural disaster, fire, flood, terrorist act, act of government authority, act of public enemy or war,  riot,  civil  disturbance,   insurrection, labour  difficulty, power outage or  interruption, telecommunications failure, postal strike, severe adverse weather condition, operation of law or other causes beyond our reasonable control. The time, if any, required for our performance under these Terms and Conditions shall be automatically extended during the period of such delay or interruption.

16)  REPRESENTATIONS AND WARRANTIES

You perversely understand and agree that your use of the services is at your sole risk. The services are provided on an “as is” and “as available” basis. We expressly disclaim all warranties of any kind relating to the services, whether express or implied including, without limitation, the implied warranties of merchantability, fitness for a particular purpose, non-infringement and any implied warranties arising from course of dealing or course of performance.  We make no representation or warranty that the services will meet your requirements or expectations, or that the services will be uninterrupted, timely, secure, or error free. We further disclaim any representation or warranty that any errors in   technology will   be corrected. Any material downloaded or otherwise obtained through the use of the services is obtained at your own discretion and risk, and we are not responsible for any damage to your computer system or loss of data that results from the download of any such material, whether due to computer virus or otherwise. We make no representation or warranty as to the completeness, accuracy or reliability of any third party information or data that you obtain through the use of the services. We may periodically amend, add, delete, update or alter the services including, without limitation, these terms and conditions. Except as otherwise required by applicable law, we assume no liability or responsibility for any errors or omissions in the content of the site and we specifically disclaim any duty to update the information on the site. You agree that neither we nor any of our officers, directors, employees, parents, subsidiaries, affiliates,  agents or third party service providers will be liable to you or any third party for any special, incidental, direct, indirect or consequential damages of any kind, including without limitation,  lost profits, even if we have been advised of the possibility of such damages and regardless of the form of action, whether in contract, warranty, tort, strict liability or otherwise, arising out of your access to or use of the services. This section shall survive termination of your use of the services.

17)  ACCEPTANCE OF TERMS AND CONDITIONS

• Once the account holder has signed/submitted the internet banking application form, the account holder is deemed to have accepted these terms and condition. The bank may at times vary the terms and conditions.
• The Bank, at its discretion and without prior notice, may withdraw the right to use its Internet banking services.