Auto Read OTP functionality:
It is recommended that each process of OTP validation shall have auto read facility of OTP in the Mobile application. Whenever the OTP send to the customer, mobile app. shall auto populate the OTP in the required field instead of entering by keyboard.
SMS forwarding App / Remote access App:
It is recommended that; the Mobile Application can have an ability to identify the “SMS forwarding Apps” as well as “Remote Access Apps” installed on the User’s handset. Based on the “AppID” of these kind of Apps, Mobile App shall restrict the users to access the login to the application if user have installed the listed apps.
SMS Delivery status facility:
Mobile banking Application shall have ability to read/detect Installed Application on user’s device and upload it on bank’s secure server for keeping safe track of existing applications. App shall prohibit/restrict Mobile Banking Application usage in case of any listed application with likes of remote access applications and SMS forwarder applications is detected.
By agreeing to terms within Mobile banking application and written consent form undertaken from user during opting mobile banking feature it will be considered user have provided affirmative consent for all above mentioned disclosures.
The following words and expressions shall have the corresponding meanings wherever appropriate
|Shall mean Laxmi Urban Co-Op. Bank Ltd. Latur.
|Shall mean account at the bank which has been registered for Mobile banking facility.
|Shall mean the holder of an Account in Laxmi Urban Co-Op. Bank Ltd. Latur.
|Shall mean Mobile Banking Service
|Mobile Phone Number
|Shall mean the Mobile number that has been registered by the customer to avail MBS.
|Shall mean www.lucbank.in
|Shall mean the Bank’s Mobile Banking Application which will be downloaded onto the Mobile phone of the Customer.
|Shall mean the Personal Identification Number (password) for the Mobile Banking services.
|Shall mean generation of User ID and MPIN, changes of default MPIN and activation through application/ATM/Branch.
|Shall mean One Time Password, which will get auto generated and fetched by the application while verifying the Mobile number and handset.
|Party to this terms and conditions shall collectively be mentioned as “Parties”
Terms and Conditions for Mobile Banking Service Definitions:
Applicability of Terms and Conditions
These terms and conditions together with the application made by the Bank and as accepted by the Customer shall form the contract between the Customer and Bank, and shall be further subject to such terms as Bank may agree with the other service providers, aiding Bank in providing the Facility. These terms and conditions shall be in addition to and not in derogation of the terms and conditions governing and related to Bank Phone Banking and the Account and / or any other product / services provided by Bank and its Affiliates. By applying for and allowing Authorized Users access to the Facility, for the first time (and every time thereafter), the Customer acknowledges and accepts (and reaffirms his acknowledgment and acceptance of) these terms and conditions, to the fullest extent possible.
General Business Rules Governing Mobile Banking Service:
The Service will be available to Customers having a Savings/Current account with the Bank. 1. The daily upper the ceiling under the Facility, per Customer shall be Rs.100000/-.
- Any change in the business rules of any of the processes will be notified on Bank’s website www.lucbank.in which will be construed as sufficient notice to the Customer.
- In case of a joint account where mode of operation is ‘either or survivor’ any of the joint account holders can use the Service. The transactions in such accounts shall be binding on all the joint account holders jointly and severally. The Customers are bound to advise the Bank separately, of any change in the mode of operation in an Account and get it effected for necessary modifications to the Application. Accounts where mode of operation is ‘Jointly’ as also accounts in the name of minor or where minor is a joint account holder are not eligible for MBS.
- The Bank reserves the right to reject a Customer’s request for MBS without assigning any reason.
- The Customer can request for termination of the Facility by visiting branch or through their registered application. The Customer shall remain accountable for all the transactions on the designated account made prior to confirmation of any such cancellation request. It shall be the Bank’s endeavor to give a reasonable notice for withdrawal or termination of the Service, but the Bank may at its discretion withdraw temporarily or terminate the Service, anytime without giving prior notice to the customer. The facility may be suspended due to maintenance or repair work or any breakdown in the Hardware / Software for MBS, any emergency or for security reasons without prior notice and the Bank shall not be responsible for any loss / damage to the Customer.
- The services offered under the MBS will be automatically terminated if the primary account linked for the Mobile Banking facility is closed, The Bank may also terminate or suspend the services under the facility without prior notice if the customer has violated the terms and conditions laid down by the Bank or on the death of the Customer when brought to the notice of the Bank.
- Users who change their handset but continue using same mobile number shall once again request bank to register their new device. 8. OTP send by bank for authentication is valid for 1.5 minutes.
Usage of facility:
By accepting the terms and conditions on the mobile phone while registering for the service, the customer:
- Agrees to use MBS for financial and non-financial transactions offered by the Bank from time to time and irrevocably authorizes the Bank to debit the Bank Account which have been enabled for MBS for all transactions/services undertaken using MPIN and User ID.
- Authorise the Bank to map the account number, User ID and mobile phone number for the smooth operation of the facility offered by Bank and to preserve the mapping record in its own server or server to user such data at its discretion for providing / enhancing further banking / technology products that it may offer.
- Agree that he/she is aware and accepts that facility offered by the bank will enable him/her to transact after login using user ID and MPIN within the limit prescribed by the Bank and will be deemed as bonafide transaction.
- Agrees that the transactions originated using the mobile phones and non-retractable as these are instantaneous/real time.
- Understands and explicitly agrees that Bank has the absolute and unfettered right to revise the prescribed ceilings from time to time which will be binding upon him/her.
- Agrees to use the service on a mobile phone properly and validly registered in his/her name only with the mobile service provider and undertakes to use the facility only through mobile number which has been used to register for the service.
- Agrees that while the Information Technology Act,2000 prescribes that a subscriber may authenticate an electronic record by affixing his digital signature which has been given legal recognition under the Act, the Bank is authenticating customer by using Mobile Number, MPIN or any other method decided at the discretion of the Bank which may not be recognized under the IT Act, 2000 for authentication of electronic records and this is acceptable and binding to the customer and hence the customer is solely responsible for maintenance of the secrecy and confidentiality of the MPIN without any liability to the Bank.
- The Customer shall be required to acquaint himself/herself with the process for using the service and that he/she shall be responsible for any error made while using the service.
- The Bank reserves the right to decide what services may be offered. Additions/deletions to the services offered are at its sole discretion.
- The instructions of the Customer shall be effected only after successful login using his/her USER ID and MPIN or through any other mode of verification as may be stipulated at the discretion of the Bank.
- While it shall be endeavor of the Bank to carry out of the instructions received from the Customers promptly, it shall not be responsible for the delay/failure in carrying out the instructions due to any reasons whatsoever including failure of operational system or due to any requirement of law. The Customer expressly authorizes the Bank to access his/her account Information required for offering the services under the facility and also to share the information regarding his/her accounts with the service provider/third party as may be required to provide the services under the Facility.
- The transactional details will be recorded by the Bank and these records will be regarded as conclusive proof of the authenticity and accuracy of transactions.
- The Customer hereby authorizes the Bank or its agents to send promotional messages including the products of the Bank, greetings or any other messages the Bank may consider from time to time.
- The Customer understands that the Bank may send rejection or cannot process the request messages for the service request(s) sent by the Customer which could not be executed for whatsoever reason.
- The Bank shall make all reasonable efforts to ensure that the customer information is kept confidential but shall not be responsible for any inadvertent divulgence or leakage of confidential Customer information for reasons beyond its control or by action of any third party.
- The Customer expressly authorizes the Bank to carry out all requests/transactions purporting to have been received from his/her mobile phone and authenticated with his/her user ID and MPIN used for login into the application. In the case of funds transfer facilities the customer shall be deemed to have expressly authorized the Bank to make the payment when a request is received from his/her mobile phone.
- It is the responsibility of the Customer to advise the Bank of any loss /theft of mobile phone by adopting the procedure laid down by the Bank for the purpose.
- The Telecom Service provider of the customer may levy charges for S/S/NUUP/GPRS/WAP channels and the Bank is not liable for any dispute that may arise between such telecom service provider and the customer.
- The customer is solely responsible for keeping his/her MBS user ID and MPIN confidential.
- The customer is solely responsible for inadvertent divulgence of his/her user ID and MPIN of MBS application to any third party and resulting in any misuse.
Fee structure for the facility:
The Bank reserves the right to charges the customer a fee for the use of the services provided under facility and change the fee structure at its discretion. Display of such charges on Bank’s websites would serve as sufficient notice and the same is binding on the customer. Currently the Mobile App based transactions are not charged any additional transactional fees by the bank.
Accuracy of Information:
- It is the responsibility of the Customer to provide correct information to the Bank through the use of the Service or any other method. In case of any discrepancy in this information, the Customer understands that the Bank will not be in any way responsible for action taken based on the information. The Bank will endeavor to correct the error promptly wherever possible on a best effort basis, if the customer reports such error in information.
- The Customer understands that the Bank will try, to the best of its ability and effort, to provide accurate information and shall not hold the Bank responsible for any errors or omissions that may occur due to reasons beyond the control of the Bank.
- The Customer accepts that the Bank shall not be responsible for any errors which may occur in spite of the steps taken by the Bank to ensure the accuracy of the information and shall not have any claim against the Bank in an event of any loss/damage suffered as consequence of an inaccurate information provided by the Bank.
Responsibilities and obligations of the customer:
- The customer will be responsible for all transactions, including fraudulent/erroneous transactions made through the use of his/her mobile phone, SIM card and MPIN, regardless of whether such transactions are in fact entered into or authorized by him/her. The customer will be responsible for the loss/damage, if any suffered.
- The Customer shall take all steps possible to ensure that his/her mobile phone is not shared with anyone and shall take immediate action to de-register from MBS as per procedure laid down in case of misuse/theft/loss of the mobile phone or SIM card.
- The customer will use offered facility using the MPIN in accordance with the procedure as laid down by the Bank from time to time.
- The Customer shall keep the USERID and MPIN confidential and will not disclose these to any other person or will not record them in a way that would compromise the security of the service.
- It will be the responsibility of customer to notify the Bank immediately if he/she suspect the misuse of the MPIN. He will also immediately initiate the necessary steps to change his MPIN.
- If the mobile phone or SIM is lost, the user must immediately take action to de-register from the service.
- The Customer accepts that any valid transaction originating from registered mobile number and from mobile handset using his/her USERID and MPIN shall be assumed to have been initiated by the Customer and such transactions shall be treated as legally authorized by the customer.
- The Customer shall keep himself/herself updated with regard to any information/modification relating to the services offered under the facility which would be publicized on the websites and at the branches and would be responsible for the same.
- The Customer shall be liable for all loss on breach of the Terms and Conditions contained herein or contributed or caused the loss by negligent actions or a failure to advise the Bank within a reasonable time about any unauthorized access in the account.
- The Customer shall be liable and responsible for all legal compliance and adherence of all commercial terms and conditions in respect of the mobile connection/SIM card/mobile phone through which the facility is availed and the Bank does not accept/acknowledge any responsibility in this regard.
The Bank, when acting in good faith, shall be absolved of any liability in case:
- The Bank is unable to receive or execute any of the requests from the Customer or there is loss of information during processing or transmission or any unauthorized access by any other person or breach of confidentiality or due to reasons beyond the control of the Bank.
- There is any kind of loss, direct or indirect, incurred by the customer or any other person due to any failure or lapse in the facility which are beyond the control of the Bank.
- There is any failure or delay in transmitting of information or there is any error or inaccuracy of information or any other consequence arising from any cause beyond the control of the Bank which may include technology failure, mechanical breakdown, power disruption, etc.
- There is any lapse or failure on the part of the service providers or any third party affecting the said facility and that the Bank makes no warranty as to the quality of the service provided by any such provider. The Bank, its employees, agent or contractors, shall not be liable for and in respect of any loss or damage whether direct, indirect or consequential, including but not limited to loss of revenue, profit, business, contracts, anticipated savings or goodwill, loss of use or value of any equipment including software, whether foreseeable or not, suffered by the Customer or any person howsoever arising from or relating to any delay, interruption, suspension, resolution or error of the Bank in receiving and processing the request and in formulating and returning responses or any failure, delay, interruption, suspension, restricting, or error in transmission of any information or message to and from the telecommunication equipment of the Customer and the network of any service provider and Bank’s system or any breakdown, interruption, suspension or failure of the telecommunication equipment of the Customer, the Bank’s system or the network of any service provider and/or any third party who provides such services as is necessary to provide the Facility.
- The Bank will not be responsible if Bank’s mobile banking application is not compatible with/does not work on the mobile handset of the Customer.
- Customer will be held responsible and accountable for any activity by third parties, using their account that violates these terms and conditions.
- Bank is in no way liable for any error or omission in the services provided by any cellular or any third party service provider (whether appointed by Bank in that behalf or otherwise) to the Customer, which may affect the Facility.
- Bank does not warrant the confidentiality or security of the messages whether personal or otherwise transmitted through the Facility. Bank makes no warranty or representation of any kind in relation to the system and the network or their function or performance or for any loss or damage whenever and howsoever suffered or incurred by the Customer or by any person resulting from or in connection with the Facility.
Authority to Laxmi Urban Co-perative Bank Ltd.
The Customer irrevocably and unconditionally authorizes Laxmi Urban Co-Op Bank Limited to access all his Accounts for effecting banking or other transactions of the Customer through the Facility. The Customer further authorizes Laxmi Urban Co-Op Bank Limited to share the Account information with Third Party for the purpose of accepting/ executing request of the Customers.
All records of the Bank relating to the Account and / or arising out of the use of the Facility, including the recorded time of the transaction and the Authorized User originating the transaction, shall be conclusive proof of the genuineness and accuracy of the transactions in the Account. The authority to record the transaction details is hereby expressly granted by the Customer to Bank.
In consideration of the Bank providing these facilities, the Customer agrees to indemnify and hold the Bank harmless against all actions, claims, demands proceedings, loss, damages, cost, charges and expenses which the Bank may at any time incur, sustain, suffer or be put to as a consequence of or arising out of or in connection with any services provided to the Customer pursuant hereto. The Customer shall indemnify the Bank for unauthorized access by any third party to any information/instructions/trigger given by the Customer or breach by confidentiality.
- The Customer may request for termination, in part or in whole, of the Facility any time by giving a written notice of at least 15 days to Bank. The Customer will remain responsible for any transactions originating from a Mobile Phone Number through the Facility prior to the conclusion of the aforementioned 15 days.
- Bank may, at its discretion, withdraw temporarily or terminate the Facility, either wholly or in part, at any time without giving prior notice to the Customer. Bank may, without prior notice, suspend the Facility at any time during which any maintenance work or repair is required to be carried out or in case of any emergency or for security reasons, which require the suspension of the Facility or if the Customer has breached these terms and conditions or Bank learns of the existence of any circumstance which in its opinion would result in the Customer being unable to carry on its obligations herein to the fullest extent possible.
- The closure of the Accounts and / or termination of the Mobile Banking Services by the Customer will automatically terminate the Facility.
No delay or failure by either party to exercise any of its powers, rights or remedies under this Agreement will operate as a waiver of such powers, rights or remedies, nor will any single or partial exercise of any such powers, rights or remedies preclude any other or further exercise of the same. Any waiver, to be effective, must be in writing.
If any provision of this Agreement is held by any competent authority to be invalid or unenforceable in whole or in part, the validity of the other provisions and the remainder of this Agreement shall not be affected thereby but such terms or provisions shall be deemed modified to the extent necessary, in the court’s opinion, to render such provision enforceable. Upon such modification, the rights and obligations of the parties shall be construed and enforced in accordance with such modification, preserving to the fullest.
Bank and the Customer may give notice under these terms and conditions electronically to the mailbox of the Customer (which will be regarded as being in the writing) or in writing by delivering them by hand or by sending them by post to the last address given by the Customer and in case to the Bank at its branch or at Head Office : Kawa Road, Market Yard, Latur-413512 (M.S.) In addition, Bank may also publish notice of general nature regarding the Facility, which are applicable to all Customer on its Website. Such notice will be deemed to have been served individually to each Customer.
Bank reserves the right, to modify and amend the Terms and Conditions of this Agreement at any time as and when the same is necessary. Any such modifications/amendment shall be effective immediately when the same are posted on the Website. If the User continue to use mobile banking after the modified Terms and Conditions have been posted then this shall mean that the User has agreed to the modified Terms and Conditions.
Governing Law and Jurisdiction:
In the unlikely scenarios of a dispute arising between the parties, this Agreement shall be governed by the laws of India. The Courts at Latur shall have exclusive jurisdiction in case of all the disputes arising out of or in connection with these terms and conditions.