Terms and Conditions
The Website provides access to an online platform (“Platform”) bringing together consumers, financial institutions, data partners and other partners willing to abide by the Terms & Conditions herein. StashFin is merely a facilitator providing the Platform for any Person in need of financial products such as consumers, financial institutions, data partners and other partners etc., including connecting Users for assistance regarding financial products. StashFin merely facilitates a transaction between two such persons.
The User of this Website unequivocally declares and agrees that the User is a natural and legal person who has attained the age of at least 18 years and is legally allowed to enter into a contract in India. The User is allowed to utilize the services of the Website in accordance with the terms and conditions detailed hereinafter. In case, we choose not to charge any fee for the services provided in the Website, by registering on the Website, the User hereby undertakes to agree and abide by the Terms and Conditions detailed hereinafter. If the User violates any of these Terms & Conditions, or otherwise violate an agreement entered into through the medium of the Website, we may terminate the User’s membership, delete his/her profile and any content or information posted online by the User on the Website and/or prohibit the User from using or accessing the Platform through the Website at any time in its sole discretion, with or without notice, including without limitation if it believes that you are under 18 years of age.
Acceptance of Terms and Conditions
As a User of this Website, you have agreed to the Terms and Conditions that we have provided hereunder or anywhere else on this Website including but not limited to disclaimers on this Website. You are advised to read and understand the said Terms and Conditions and in case you do not wish to agree to these Terms and Conditions, please refrain from using the Website.
The Website is an online platform providing Users registered on the Website with access to database of the Users. The information is also shared with third party verification agencies, collection agencies etc. We are a service provider facilitating the access between a person willing to lend and a person in need of borrowing. The final decision as regards lending and borrowing is also subject to the choice of the respective Users in their respective capacities as lenders/borrowers/users of other financial products as set out in the Website. Further, we provide support to the Users in verifying the financial capabilities of Users.
We reserve the right, at its sole discretion, to change, modify, add or remove portions of these Terms and Conditions, at any time without any prior written notice to the User. It is the User’s responsibility to review these Terms and Conditions periodically for any updates/changes. User’s continued use of the Website following the posting of changes will mean that the User has accepted and agreed to the revisions.
If you wish to use the Website, you are required to maintain an account and will be required to furnish certain information and details, including your name, email id, contact number and any other information deemed necessary by us. You are responsible for maintaining the confidentiality and security of Your Account, password, activities that occur on or through Your Account and for restricting access to your computer to prevent unauthorized access to Your Account. You agree to accept responsibility for all activities that occur under Your Account or password. You should take all necessary steps to ensure that the password is kept confidential and secure and should inform us immediately if you have any reason to believe that your password has become known to anyone else, or if the password is being, or is likely to be, used in an unauthorized manner. Please ensure that the details you provide us with are true, correct, accurate and complete and inform us immediately of any changes to the information that you provided when registering. You can access and update most of the information you provided us with in the ‘dashboard’ area of the website after you log-in or by reaching out to us through our “Contact Us” Page. We reserve the right to refuse access to the website, terminate accounts, remove or edit content at any time without notice to you. The right to use this Website is personal to the User and is not transferable to any other person or entity. We shall not be responsible for any data lost while transmitting information on the internet. Further, it is to be noted that all the information provided shall be solely used for provided the services as set out herein.
The User also unequivocally agrees to provide true, accurate, current and complete information about as sought by the registration form of the Website. Upon StashFin gaining knowledge of having any reasonable suspicion that the information provided by you is wrong, inaccurate or incorrect, we shall immediately terminate Your Account without any notice to you in this regard. You shall at all times abide by the Terms and Conditions stated herein and any breach of these conditions may also lead to StashFin terminating Your Account and appropriate civil and criminal remedies will be sought against you as provided under the laws of India.
License and Site Access
StashFin grants you a limited license to access and make personal use of the Website, but not to download any material from it (other than page caching) or modify it, or any portion of it, except with express written consent of StashFin andor its affiliates, as may be applicable. Any unauthorized access to the Website or any networks, servers or computer systems connected to Website and any attempt to modify, adapt, translate or reverse engineer any part of the Website or re-format or frame any portion of the pages of the Website, save to the extent expressly permitted by these Terms and Conditions, is not permitted. This license is non-transferable and does not permit any resale or commercial use of this website or its contents; any downloading or copying of account information for the benefit of anyone other than your use; or any use of data mining, robots, or similar data gathering and extraction tools. This Website or any portion of this Website (including but not limited to any copyrighted material, trademarks, or other proprietary information) may not be reproduced, duplicated, copied, sold, resold, visited, distributed or otherwise exploited for any commercial purpose without express written consent of StashFin andor its affiliates, as may be applicable. Any unauthorized use of the Website shall terminate the permission or revoke the license granted by StashFin.
Monitoring of the Website and Your Account
StashFin has the right and liberty to monitor the content of the Website at all times which shall include information provided in Your Account. The monitoring of the Website is important to determine the veracity of the information provided by you and that every User remains in consonance with the Terms and Conditions provided herein. Subject to the Terms and Conditions mentioned herein StashFin shall also have the liberty to remove any objectionable content which is in contravention of the Terms and Conditions herein or share such information with any governmental authority as per procedures laid down by the law for the time being in force in India.
We may wish to stop providing the services through the Website, and may terminate use of it at any time without giving notice of termination to you. Unless we inform the User otherwise, upon any termination, (a) the rights and licenses granted to the user in these terms will end; and (b) User must stop using the Website. StashFin reserves the right to suspend or cease providing any service related to the Website and shall have no liability or responsibility to the User in any manner whatsoever if it chooses to do so.
Limitation of Liability and Disclaimer of Warranties
Not with standing anything to the contrary contained herein, neither StashFin nor its affiliated companies, subsidiaries, officers, directors, employees or any related party shall have any liability to you or to any third party for any indirect, incidental, special or consequential damages or any loss of revenue or profits arising under or relating to these terms and conditions. To the maximum extent permitted by law, you waive, release, discharge and hold harmless StashFin, its affiliated and subsidiary companies, and each of their directors, officers, employees, and agents, from any and all claims, losses, damages, liabilities, expenses and causes of action arising out of your use of the Website.
As a User you also acknowledge that we have maintained and carried out all possible checks and balances to assure the credibility of the Users as listed on the Platform. The information provided on the Website is based on the information that is provided to us. In case the User does not disclose any information to us, and the same is not found out at the first instance by us despite all measures adopted to certify the ratings or credibility of a User, we shall not be responsible for any claims or liabilities. We, in any event are not responsible for any default in return of money that is borrowed from the lender and the lender shall have the exclusive right to initiate proceedings against the defaulter borrower. We shall to the best of our abilities aid the concerned User in terms of provision of information to initiate any legal proceedings. However, we shall not be responsible for any default on behalf of the User. We are an information platform and the User is entitled to conduct its own diligence before taking any steps to initiate the processes outlined in the Website.
StashFin makes no representations or warranties about the accuracy, reliability, completeness, current-ness and/or timeliness of any content, information, software, text, graphics, links or communications provided on or through the use of the Website or that the operation of the Website will be error free and/or uninterrupted. Consequently, we assume no liability whatsoever for any monetary or other damage suffered by you on account of the delay, failure, interruption, or corruption of any data or other information transmitted in connection with use of the Website; and/or any interruption or errors in the operation of the Website. This limitation of liability clause shall prevail over any conflicting or inconsistent provision contained in any of the documentscontent comprising these Terms and Conditions. It is up to you to take precautions to ensure that whatever you select for your use is free of such items as viruses, worms, malware, Trojan horses and other items of a destructive nature.
You agree to indemnify, save, and hold StashFin, its affiliates, contractors, employees, officers, directors, agents and its third party associates, licensors, and partners harmless from any and all claims, demands, losses, damages, and liabilities, costs and expenses, including without limitation legal fees and expenses, arising out of or related to your use or misuse of the services or of the Website, any violation by you of these Terms and Conditions, or any breach of the representations, warranties, and covenants made by you herein or your infringement of any intellectual property or other right of any person or entity, or as a result of any threatening, libelous, obscene, harassing or offensive material posted/transmitted by you on the Website. StashFin reserves the right, at your expense, to assume the exclusive defense and control of any matter for which you are required to indemnify us, including rights to settle, and you agree to cooperate with our defense and settlement of these claims. We will use reasonable efforts to notify you of any claim, action, or proceeding brought by a third party that is subject to the foregoing indemnification upon becoming aware of it. This paragraph shall survive termination of these Terms and Conditions.
Advertisers/Third Party Links on the Website
StashFin accepts no responsibility for advertisements contained within the Website. We have no control over and accept no responsibility for the content of any website or mobile application to which a link from the Website exists. Such linked websites and mobile applications are provided “as is” for User’s convenience only with no warranty, express or implied, for the information provided within them. We do not provide any endorsement or recommendation of any third party website or mobile application to which the Website provides a link. Further, the Users consent and agree that the content provided in the Website shall be synced and shall be available in both mediums.
Services, Use of Information and Consent
StashFin will hereinafter be engaged in the provision of the following services:
You acknowledge that StashFin is a platform bringing Users together and that we are not engaged in either grant of loan or borrowing any money or assistance for any financial products from any member using the Platform. You acknowledge that the use of the financial products is entirely based on the negotiations between the Users and us or its affiliates, contractors, employees, officers, directors, agents and its third party associates, licensors, and partners that do not have any interest with regard to any financial products assistance procured by a registered User. You acknowledge that StashFin will not be responsible for any claim or damage in case of use of the financial products. StashFin in no manner warrants or guarantees the performance of a service provider that is providing services through the Website. You acknowledge that we in no manner guarantee that the Users have provided all the information on this Website which is true and correct including his address, phone numbers etc. You acknowledge that it is your responsibility to verify the information about the person on the Platform and StashFin is in no manner liable if the information provided on this Website is untrue or incorrect. You acknowledge that StashFin is in no manner responsible for any claim of money or damages in the event one person fails to either grant loan or a person fails to repay the loan or misrepresents his financial status or commits a fraud or cheating or any other such illegal act.
Your use of this Website and any Term and Conditions stated in this policy is subject to laws of India. In case of any disputes arising out of the use of the Website, Courts of Delhi will have exclusive jurisdiction.
Users have complete authority to file a complaint/share feedback if they are disappointed by services rendered by StashFin. They can give their complaint/feedback in writing or by way of an email to [email protected]
Disclaimer of Warranties
You expressly understand and agree that:
Your use of the service and all information, products and other content (including that of third parties) included in or accessible from the service is at your sole risk. The service is provided on an "as is" and "as available" basis. Company and service provider expressly disclaim all warranties of any kind as to the service and all information, products and other content (including that of third parties) included in or accessible from the service, whether express or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement.
Company and service provider make no warranty that:
Limitation Of Liability
You agree that neither company nor service provider nor any of their affiliates, account providers or any of their affiliates will be liable for any harms, which lawyers and courts often call direct, indirect, incidental, special, consequential or exemplary damages, including, but not limited to, damages for loss of profits, goodwill, use, data or other intangible losses, even if company or service provider has been advised of the possibility of such damages, resulting from:
You agree to protect and fully compensate Company and Service Provider and their affiliates from any and all third party claims, liability, damages, expenses and costs (including, but not limited to, reasonable attorneys fees) caused by or arising from your use of the Service, your violation of these terms or your infringement, or infringement by any other user of Your Account, of any intellectual property or other right of anyone.
You agree that Service Provider is a third party beneficiary of the above provisions, with all rights to enforce such provisions as if Service Provider were a party to these Terms and Conditions.
StashFin does not return any customer documents including but not limited to IDs, Address proofs, bank statements and photographs. StashFin may disclose the customer informationdocuments to credit agenciesbureaus, RBI or any other financial institutionthird party that may need the information as deemed necessary by StashFinRBI or any other regulatorylegal authority. In this regard, customer waives the privilege of privacy.
REFUND POLICYAmount once paid shall not be refunded other than in the following circumstances:
StashPoints Terms and Conditions
Card Value Propositions Terms
|1.||1% cashback on every spend||
|2.||1500 welcome StashCash||
Women's LiveBoundless Card Value Propositions Terms
|1.||1% cashback on every spend||
|2.||2000 welcome stashcash||
|3.||Free Credit Period for 30 days||
Minimum KYC Wallet Terms and Conditions
|1.||Maximum outstanding Balance||The maximum outstanding balance on the StashFin Credit Line Card must not exceed INR 10,000/- (Indian Rupees Ten Thousand Only) at any point in time.|
|2.||Loading or Reloading of Funds||The total amount loaded or reloaded on the StashFin Credit Line Card during any given month shall not exceed INR 10,000/- (Indian Rupees Ten Thousand Only) and the total amount loaded during the financial year shall not exceed INR 1,00,000/- (Indian Rupees One Lakh Only).|
|3.||Transfer of funds||You will not be able to transfer money from such Min KYC accounts to other Money accounts or bank accounts. The only time you can transfer money out of this account is at the point of closure of your Wallet, at which point you would be required to transfer money to your own bank account post providing required bank account proof of ownership and after completing your Know Your Customer; or transfer money 'back to source' (payment source from where the money was loaded).|
|4.||Debit from prepaid account||The total amount debited from the prepaid payment account during any given month shall not exceed INR 10,000/- (Indian Rupees Ten Thousand Only).|
|5.||Expiry Period||Min KYC account will be valid for a period of 18 (eighteen) months from the date of issue/activation or as per timelines prescribed under applicable laws, post which you will be required to upgrade your account by providing requisite KYC information/documentation to StashFin.|
|6.||Making the Wallet account inactive||In case of no financial transaction for a consecutive period of 1 (one) year in the Prepaid Payment Account, StashFin shall make the Account inactive. Reactivation will be as per applicable terms and conditions.|
|7.||Closure of Wallet||At the time of closure, any outstanding balance in the wallet shall be transferred at the request of the holder to the ‘own bank account of Wallet holder’ or shall be transferred ‘back to source’ after complying with KYC requirements of the Wallet holder.|
Full KYC Wallet Terms and Conditions
|1.||Maximum outstanding Balance||The maximum outstanding balance must not exceed INR 50,000/- (Indian Rupees Fifty Thousand Only) at any point in time.|
|2.||Loading or Reloading of Funds||Shall be reloadable in nature.|
|3.||Expiry PeriodInactivity||StashFin Wallet shall be valid for a period of 3 or 5 years (depending on the Card). In cases where you do not perform any financial transactions using StashFin Wallet for a consecutive period of 1 (one) year, your wallet will be considered inactive. When you wish to reactivate such an account, you will have to contact us through our customer care details as mentioned under these T&Cs and comply with applicable validation norms, as prescribed by StashFin.|
|4.||Making the wallet account inactive||In case of no financial transaction for a consecutive period of 1 (one) year in the Prepaid Payment Account, StashFin wallet shall make the Prepaid Payment Account inactive|
|5.||Closure of Wallet||An option shall be provided at the time of issuing the Wallet, to the holder to provide details of pre designated bank account or other PPI of the same issuer to which such balance amount shall be transferred in the event of closure or expiry of such wallet.|
*Note: KYC documentation shall be in line with the prevailing RBI guidelines on (KYC) Know your Customer. Above parameters and limit capping is applicable as per the Master direction on issuance and operation of prepaid card instruments dated 11th Oct 2017, and subject to change as when new guidelines are issued by RBI.
SBM BANK PREPAID CARD TERMS & CONDITIONS
I. GENERAL TERMS AND CONDITIONS
These terms and conditions ("Terms and Conditions") apply to and regulate the provisions of prepaid payment instruments namely Prepaid Cards provided by EQX Analytics Private Limited (the Company”). The PPIs are issued by SBM Bank (India) Limited (“Bank”).
By completing the sign-up process for availing any of the Cards, you are deemed to have expressly read, understood and accepted each and every Terms and Conditions mentioned herein. You agree to be bound by all the Terms and Conditions mentioned herein, as may be amended from time to time.
In these Terms and Conditions, “We”, “Us” or “Our” refers to the SBM Bank, or the Company acting on behalf of SBM Bank. “You” or “Your” refers to the individual purchasing or using the Prepaid Card.
In these Terms and Conditions, unless the contrary intention appears and/or the context otherwise requires, capitalized terms defined by: (i) inclusion in quotations and/ or parenthesis have the meanings so ascribed; and (ii) the following terms shall have the meanings assigned to them herein below:
“Account” refers to a prepaid account with an account balance equivalent to amount loaded on the PPIs, for the purpose of monitoring the limits available on such PPIs.
“Business Day” means a day other than a Sunday, 2nd or 4th Saturday of a Month or Public Holiday as defined under Section 25 of Negotiable Instrument Act, 1881 on which banks are open to transact business of banking.
“Charges” means such levy, costs and charges levied by Us for usage of the PPIs, as amended from time to time.
“Customer” or “Holder” or “You” shall mean any person to whom the PPI is issued and who is authorised to hold and use the same against the value stored on such PPI.
“Customer Care Centre” refers to contact centre provided by Us for addressing all queries, complaints raised by the Customer or any details or information sought by the Customer in relation to the PPIs.
“EDC” or “Electronic Data Capture” Machine means terminal, printer, other peripheral and accessory and necessary software on which the PPI can be swiped or used to initiate a transaction.
“Internet Payment Gateway” means the protocol stipulated/to be stipulated by Us authorizing the payments made using PPI over the internet upon authentication of the Customer.
“KYC” shall mean Know Your Customer guidelines adopted by Us for the purpose of identification and verification of the Customer, pursuant to the Regulations issued by Reserve Bank of India, from time to time.
“Merchant Establishments” shall mean such physical establishments (including but not limited to stores, shops, restaurants, hotels, etc.) and Reloadable stores (in any type of electronic form including but not limited to e-commerce platforms, digital marketplaces, etc.) located in India, having a specific contract with Us (or a contract through a payment aggregator / payment gateway / card network) for accepting PPI.
“Payment Channel” shall mean various modes of transactions including but not limited to EDC/POS terminals/kiosks/Internet Payment Gateway/Mobile based payment solutions and various other modes as intimated by Us from time to time.
“Personal Identification Number (PIN)” is a numeric password provided to the Customer by us.
“POS” or “Point of Sale” means electronic terminals maintained by Merchant Establishments in India at which the Customer can use the PPI.
“PPI” shall mean a prepaid instrument which includes gift cards and meal cards that facilitates purchases against the value stored on such PPIs as defined in the Regulations.
“Regulations” shall mean the master directions, circulars, notifications, rules, guidelines, regulations, etc. issued by Reserve Bank of India or any other competent authority related to issuance and operation of prepaid payment instruments in India, as amended from time to time.
“Schedule of Charges” shall mean the details of fees or Charges as may be prescribed by Us from time to time and displayed on our website.
“Transaction” means any transaction initiated by the Customer using PPI at any Merchant Establishment.
“SBM Bank” or “Issuer” shall mean SBM Bank (India) Limited (CIN No. U65999MH2017FLC293229), a company incorporated in India under the provisions of Companies Act 2013 and a banking company under the Banking Regulations Act 1949 and who is licensed to carry on its business of banking by the Reserve Bank of India (“RBI”) and having its Registered Office at 101, Raheja Centre,1st Floor Free Press Journal Marg, Nariman Point Mumbai, Maharashtra 400021 (hereinafter called “SBM Bank” or “Bank” which expression shall, unless repugnant to the context thereof, mean and include its successors and assigns).
“EQX Analytics Private Limited” or “the Company” shall mean EQX Analytics Private Limited, a company within the meaning of the Companies Act, 2013, having its registered office at #60, Jawala Parshad Building, Arjun Nagar, Kotla Mubarakpur, New Delhi-110003.
II. ISSUANCE AND USAGE OF PPI
The PPI shall be the exclusive property of the Issuer.
The PPI shall be valid only within the territory of India and for transactions in Indian Rupees only. The PPI cannot be used outside the territory of India or for any transactions denominated in foreign currency.
The Customer shall be required sign on the reverse side of the PPI (if the PPI is in the card form) immediately upon its receipt. We reserve the right to reject or cancel any Transaction in absence of the signature or mismatch of the signature, without further notice or intimation to the Customer.
The PPI shall not be transferable to other individual or third party under any circumstances.
We shall not be liable to pay any interest on any balance maintained in the PPI at any point in time.
The Customer agrees and confirms that the PIN shall, under no circumstances be revealed by the Customer to any relative or family members or third party. The Customer shall be solely responsible and liable for the consequences arising out of such unauthorized disclosure of PIN and/or unauthorized usage of the PPI. We disclaim all responsibility and liability arising out of or in connection with the unauthorized usage of the PPI and/or any loss or damage, whether direct or indirect, incurred by the Customer as a result of such misuse. If the Customer forgets or misplaces the PIN, the Customer should visit the website or mobile application or any other mode as may be made available by Us for re-generation of PIN.
We will inform or intimate the Customer 45 days prior to the expiry of the PPI through SMS on the registered mobile number of the Customer or as specified in the Regulations applicable from time to time. Customer needs to utilize the entire credit balance available on the PPI prior to its expiry. In case the Customer does not utilize the credit balance available on the PPI within the validity period, the Customer can approach Us for renewal of the PPI. In case the Customer does not approach Us within a specified period, the outstanding credit balance available on the PPI will be transferred to a fund in compliance with the Regulations.
The Customer shall sign and retain all the charge slips generated for each of the Transaction consummated at a Merchant Establishment. We shall not be obliged to provide copies of the charge slips or transaction slips to the Customer. Any such request by the Customer will be at our sole discretion and provided such requests have been made by the Customer within forty-five (45) Business Days from the date of the Transaction. The Customer agrees that we shall be entitled to charge additional cost or charge for providing copies of the charge or transaction slips.
Any charge or cost levied by the Merchant Establishment in relation to any Transaction shall be directly settled by the Customer with the Merchant Establishment. We shall not be liable or responsible, either directly or indirectly, for any act or omission on the part of the Merchant Establishment or the charges or cost levied by them in relation to the Transaction.
All refunds and adjustments due to any Merchant Establishments on account of device error or communication link will be processed manually and the Account will be credited after due verification by Us pursuant to the applicable rules, Regulation and our internal policy. The Customer agrees that any subsequent Transactions will be accepted or honored only based on the available credit balance in the Account without taking into account any disputed amount under consideration by us. The Customer shall unconditionally keep Us indemnified against any loss or damage caused to Us on account of dishonoring the payment instructions as a result of insufficient funds in the Account. The Customer agrees that we shall be entitled to deduct the amount of such loss or damaged caused to Us directly from the Account.
The Customer undertakes to act in good faith at all times in relation to all dealings of the PPI. The Customer accepts full responsibility for any illegal or wrongful use of the PPI in contravention to the Terms and Conditions contained herein.
The Customer hereby agrees not to use the PPI for making payment(s) of any goods and services, which is illegal under the laws. The PPI cannot be used for making purchases of prohibited or contraband products or services like lottery tickets, banned or prohibited magazines, participation in sweepstakes, purchase of bitcoins, payment for call-back services, etc.
We do not take any responsibility for any loss, damage or injuries suffered or caused to the Customer in connection with the service, quality of goods and services provided by the Merchant Establishment, refusal to accept (conditional acceptance) the PPI by Merchant Establishment and inability (technical issues) to use the PPI at Merchant Establishment.
The Customer hereby acknowledges and agrees that if there is no Transaction for a consecutive period of one (1) year on the PPI, subject to validity of the PPI, the same shall be made inactive by Us after sending a notice to the Customer. The PPI can only be reactivated by Us after validations and requisite due diligence, as stipulated from time to time.
The Customer hereby agrees to receive SMS or email alerts from Us for all Transactions done using the PPI. The SMS or email alerts from Us shall stipulate debit and credit Transactions, balance available or remaining on the PPI or such other information or details as stipulated by Us, from time to time.
The Customer agrees that We may, at our sole discretion, utilize the services of external service provider(s) or agent(s) on such terms as required or necessary, for provisioning of the services in relation to the PPI.
The Customer shall have access to Frequently Asked Questions (“FAQ”) as uploaded by Us on our website, from time to time.
In the event of any breach of these Terms and conditions by the Customer, we shall have the sole right to forthwith cancel or terminate the PPI without having any liability, claim, demand or dispute against us.
The Customer undertakes and agrees to indemnify Us against any loss, damage, claim, penalty, cost, charges or expenses (including legal counsel fees) that we may incur and/or suffer, whether directly or indirectly, as a result of the Customer committing any breach of the Terms and Conditions contained herein.
IV. TERM & TERMINATION
The PPI shall be valid until the expiry date printed on the face of the PPI.
The Customer agrees and undertakes to destroy the PPI upon its expiry.
The Customer agrees that the PPI shall be defaced by cutting off the top right-hand corner, ensuring that both the hologram and the magnetic strip have been cut and has been destroyed or received by us. The Customer agrees that the Customer shall continue to be liable for any Charges incurred on the PPI prior to its termination, irrespective of the fact whether the Customer has or claims to have destroyed the PPI.
We may at our sole discretion terminate the PPI if:
The Customer committing breach of any of the terms, conditions, stipulations or its obligations under these Terms and Conditions.
Any restriction imposed on the Customer by an Order of a competent Court or Order issued by any regulatory or statutory authority in India or any investigating agency.
The program becomes illegal under the applicable laws, and Regulations.
The program is terminated.
We, at our sole discretion, reserve the right to, either temporarily or permanently, withdraw the privileges on the PPI and/or terminate the PPI at any time without giving any notice or assigning any reason thereof. In case of a temporary withdrawal, the privileges attached to the PPI shall be reinstated by Us at our sole discretion. In case of a permanent withdrawal, we have a right to cancel the PPI permanently. However, it is made distinctly clear that withdrawal (temporary or permanent) shall constitute automatic withdrawal of all benefits, privileges and services attached to the PPI. The Customer agrees that in the event of temporary or permanent withdrawal of the PPI, the Customer shall continue to be fully liable for all Charges incurred on the PPI prior to such withdrawal, together with all other applicable Charges thereon, unless otherwise specified by us.
If We temporarily or permanently, withdraw the privileges or terminates the PPI, We will on best effort basis, promptly notify the Customer. We shall not be held liable or responsible for any such delays or laches in receipt of such notification.
Upon termination of the PPI as stated above, the balance amount, if any lying in the Account will be refunded back to the source.
Charges shall include:
Any fees charged by Us in respect of the PPI, including replacement, renewal, handling and other fees, if any.
Service Charges on specific types of Transactions. The method of computation of such Charges will be as notified by Us from time to time.
Charges shall be non-refundable, non-transferrable and non-assignable in nature.
All Charges, in the absence of manifest error, shall be final and binding on the Customer and shall be conclusive in nature.
All statutory taxes including goods and service tax, imposts, duties (of any description whatsoever) as may be levied from time to time by Government of India or other competent authority in respect of or in connection with the PPI, shall be borne by the Customer.
All Charges related to the PPI will be debited from the Account, as may be levied from time to time. The Customer shall become liable to pay as soon as a charge has been incurred by use of the PPI.
VI. LOST, STOLEN OR MISUSED PPI:
If the PPI is lost or stolen, the Customer must immediately report such loss or theft to Customer Care Centre and request for immediate suspension of the PPI.
The Customer acknowledges that once the PPI is reported lost, stolen or damaged, such PPI cannot be used again, even if found subsequently.
The Customer is responsible for the security of the PPI and shall take all steps towards ensuring that the PPI is not misused. In the event we determine or receive any information that the Customer has neglected or refused or failed to take steps as indicated above, in case of loss, theft or destruction of the PPI, we reserve the sole right to cancel or terminate such PPI.
No liability shall accrue upon the Customer for any unauthorized transactions done on the PPI, after such PPI has been reported lost, stolen or damaged by the Customer. All liabilities accrued on the PPI, post reporting by the Customer shall be borne by Us. However, in case of any dispute relating to the time of reporting and/ or transaction(s) made on the PPI, post reporting of the PPI being lost, stolen or misused, all Our decisions shall be final and binding on the Customer.
VII. EXCLUSION OF LIABILITY
We shall be under no liability or responsibility to the Customer or any third party, in respect of any special, indirect, incidental, consequential, punitive or exemplary loss or damage including, but not limited to, lost profits in connection with this arrangement.
VIII. DISPUTED TRANSACTIONS
Any charge or Transaction slip or other payment requisition received by Us for payment shall be conclusive proof of such Charge, unless the PPI is lost, stolen or fraudulently misused and evidenced by the Customer.
All disputed Transactions in relation to the PPI shall be required to be raised with our Customer Care Centre, within fifteen (15) Business Days from the date of the disputed Transaction. The Customer acknowledges that any request, after fifteen (15) Business Days from the date of the disputed Transaction shall not be accepted by Us.
IX. QUALITY OF GOODS AND SERVICES
Any dispute with or complaint against any Merchant Establishment regarding any goods purchased or services availed must be directly resolved by the Customer with the Merchant Establishment.
The Customer acknowledges and consents to sharing of information pertaining to the Customer and the usage of the PPI with any other banks or financial or statutory or regulatory authorities only in case of any financial misuse/fraud/legal cases where RBI, any regulatory authority, Government of India or Court directs Us to disclose such information.
The Customer acknowledges and agrees that We may report to any other banks or financial or statutory or regulatory authorities, any Customer delinquencies and/or the usage of the PPI only in case of any financial misuse/fraud/legal cases where RBI, any regulatory authority, Government of India or Court directs Us to disclose such information. We shall not be obliged to disclose the details of such banks or financial or statutory or regulatory authorities to the Customer, including the extent of such disclosure unless RBI, any regulatory authority, Government of India or Court expressly permits Us to disclose the name of the said financial entity.
The Customer hereby authorizes Us and Our agents to exchange, share or part with all the information relating to the Customer's details and payment history with our group companies or Affiliates only in case of any financial misuse/fraud/legal cases where RBI, any regulatory authority, Government of India or Court directs Us to disclose such information.
XI. GOVERNING LAW AND JURISDICTION
All disputes arising in relation to these Terms and Conditions shall be governed by and construed in accordance with the laws of India and shall be subject to the exclusive jurisdiction of the Courts of Mumbai.
XII. AMENDMENT OF THE TERMS AND CONDITIONS
We reserve the sole right to change, these Terms and conditions, features and benefits offered on the PPI, including but not limited to Charges.
We shall communicate the amended Terms and Conditions by hosting them on Our website or in any other manner as decided by Us.
The Customer shall be responsible for regularly reviewing these Terms and Conditions, including amendments thereto as may be posted on Our website and shall be deemed to have accepted the amended Terms and Conditions by continuing to use the PPI.
XIII. CUSTOMER GRIEVANCE REDRESSAL
In the event of any dispute or grievance in relation to the PPI and/or these Terms and Conditions, the Customer may contact the Customer Care Centre on details available on the website.
In the event the dispute or grievance in relation to the PPI and/or these Terms and Conditions is not adequately addressed or resolved by the Customer Care Centre, the Customer may approach the Nodal Officer, details of which can be found on Our website.
We agree that all complaints, disputes or grievance raised by the Customer shall be addressed and/or resolved in a time bound manner.
The Customer may at any time approach the Banking Ombudsman for the grievance redressal. The list of Banking Ombudsman is available on the website of Reserve Bank of India i.e. www.rbi.org.in
NO WARRANTIES: WE AND OUR SERVICES PROVIDERS AND SYSTEM PARTICIPANTS EXPRESSLY DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, WRITTEN OR ORAL, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY AND FITNESS OF THE CARDS AND RELATED ASPECTS INCLUDING ITS USE FOR A PARTICULAR PURPOSE.
I. TERMS AND CONDITIONS FOR RELOADABLE CARD
This section lays out the Terms and Conditions which shall be applicable only to the Reloadable Card(s) issued by Us.
For the purposes of this section “Reloadable Card” shall mean physical or Reloadable cards issued by the Issuer and provided by Us, which can be used for purchasing goods and services.
B. CHARACTERISTICS OF RELOADABLE CARD
Reloadable Card cannot, under any circumstances, be exchanged for cash.
C. ACCEPTANCE AND USAGE OF RELOADABLE CARD
Upon completion of KYC formalities Customer will be able to use the Reloadable Card for the maximum limit as prescribed under the Regulations from time to time. At present, the KYC formalities and maximum limit prescribed is as follows:
Upto Rs. 10,000/- by accepting minimum details of the Customer:
The minimum details shall include mobile number verified with One Time Pin (OTP) and self-declaration of name and unique identification number of any of the 'officially valid document' defined under Rule 2(d) of the PML Rules 2005, as amended from time to time.
The amount loaded in such Reloadable Cards during any month shall not exceed Rs.10,000/- and the total amount loaded during the financial year shall not exceed Rs. 1,00,000/-.
The amount outstanding at any point of time in such Reloadable Cards shall not exceed Rs.10,000/.
The total amount debited from such Reloadable Cards during any given month shall not exceed Rs. 10,000/-.
The Reloadable Cards issued under this type shall be converted into KYC compliant Reloadable Cards within a period of 12 months from the date of issue of the Reloadable Cards. If not done, no further reload shall be allowed in such Reloadable Cards. However, the Customer shall be allowed to use the balance available in the Reloadable Card.
Upto Rs. 1,00,000/- after completing KYC of the Customer:
KYC requirements are specified under the Regulations issued by Reserve Bank of India and/or any other competent authority constituted by Government of India and/or Ministry of Finance, Ministry of Electronics & Information Technology or such other competent Ministry working under the instructions of Government of India from time to time.
After completion of the KYC formalities, the amount outstanding on the Reloadable Cards shall not exceed Rs. 1,00,000/- at any point of time.
We shall not be held responsible with regards to the quality of goods and services provided to the Customer by the Merchant Establishment.
The Reloadable Card shall be used only for bonafide personal / official purposes. It is clarified that Charges incurred at certain Merchant Establishments, include a charge for availing certain additional services or other facilities by such Merchant Establishments.
The Customer acknowledges that all refunds in case of failed, returned, rejected or cancelled Transactions done by the Customer using any other PPI cannot be credited in the Reloadable Card.
The Customer hereby acknowledges and agrees that the Reloadable Card can be reloaded as per the request placed by the corporate.
Fees and Charges:
StashFin reserves its right, in its sole discretion and without any prior notice, to impose and/or revise charges/commissions in relation to the use of your StashFin Wallet. The current charges for your Wallet are provided hereunder, the same are subject to change
Schedule of charges Min KYC & Full KYC Wallets:
|Account Maintenance||Up to Rs. 100 per year (on the basis of usage of Card).|
|*For Failed transactions, total amount including charges are reversed.|
*Note: There terms and conditions may change as prescribed by StashFin from time to time