TERMS & CONDITIONS:

Terms of Use

By using IDFC FIRST Bank Savings Account & Debit Cards you indicate your agreement to these terms of use ("Terms"). You further warrant and covenant that you have the power and authority to enter into this agreement.

Changes

IDFC FIRST Bank may revise, add, discontinue or suspend these Terms at any time without any prior notice by updating this page and such revisions will be effective upon posting to this page. Please check this page periodically for any changes. Your continued use following the posting of any revisions to these Terms will mean you accept those changes. We reserve the right to alter, suspend or discontinue any reward points build up (accrual/earn criteria of Reward Points) across any transactions/spends without any prior notice. All new features, reward points build up (accrual/ earn criteria), merchandise or services will be subject to these Terms.

Reward Points

Reward Scheme: The Bank may offer the Customer various Reward Schemes on the usage of an ATM/Debit Card. The Customer understands and acknowledges that specific terms and conditions will apply to any such Reward Scheme as may be determined by the Bank in its sole discretion and as may be notified to the Customer. The Bank shall have the final discretion in choosing merchants and/or products where the Customer may earn Reward Points using the ATM/Debit Card. The Customer understands and acknowledges that in case ATM/Debit Card is directly or indirectly misused or abusively used or used to take advantage of any loopholes or lacunas to earn the Reward Points, the Bank reserve its sole right and discretion to cancel the earned Reward Points /Reward Scheme or freeze or purge the earned Reward Points and render them invalid or null & void without any liability of any sort and nature, and the Bank shall have the final discretion in this regards. Such misuse /abusive use/inappropriate use/fraudulent use/malafide use, shall entitle the Bank to permanently reject or block or cancel the use or operation of ATM/Debit card. Customer further understands and acknowledges that the Bank shall be entitled to recover the amounts earned/used by redemption/utilization of such Reward Points by directly debiting the account of the Customer.

The redemption platform of Goods and Services will remain dynamic. There will be new goods and services being added continually to keep the redemption options refreshed for you. FIRST Reward Points have no expiry date.

Pricing and Other Errors: If the number of Rewards Points you redeem for a product or service is incorrect, regardless of an error in the number of Rewards Points posted on the platform or otherwise communicated to you, or if you are able to redeem a product or service that was not supposed to have been released for redemption, then the Company or our Partner will have the right to cancel that redemption and refund to you the Rewards Points that you redeemed. This will apply regardless of a human/logical/transactional error.

Earning: Rewards Points can be accrued by spending on your IDFC FIRST Debit Card, at point of sale (POS) or online point of sale (e-POS). In case the transaction is declined, refund or cancelled, the reward points accrual won't be applicable, and any reward points earned for the said transaction will be cancelled.

For more details on earning, please refer to below table of earn rules:

*Please note: Payment to Mutual Funds, Insurance, Financial Institutions, Security Brokers, Dealers, Wallet Uploads, Quasi Cash, ATM Withdrawals, Credit Card Payments and Account Transfers transactions are not a part of Savings Account & Debit Cards Rewards program.

The transaction categories are identified through Merchant Category Codes (MCC), defined by the network, e.g. Visa, MasterCard and RuPay.

IDFC FIRST Bank does not define the merchant category. The merchant category codes that are excluded from Savings Account & Debit Cards Rewards Program are mentioned below:

A monthly reward point accrual capping will be applicable based on user’s program membership. (w.e.f. 1st December 2023)

Note: All reward points credited and activated will be made within 14 working days from the transaction date

Redemption: Redemption can only be made on FIRST Rewards platform accessible to customers using IDFC FIRST Mobile Banking App.

A redemption handling fee of ₹99+ service tax will be charged on every redemption within next 60 days of redemption (w.e.f. 1st November 2023)

No Warranty

Some of the features, facilities and offers on platform are provided by organizations including Partners, that the Company has made arrangements with, but over which it has no control. The Company does not guarantee or warrant that such benefits and facilities will be available, nor will it be liable for any loss or damage arising from the provision, or non-provision, whether in whole or in part of any such benefits or facilities.

Limitation of Liability

UNDER NO CIRCUMSTANCES WILL THE COMPANY BE LIABLE TO YOU FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL OR EXEMPLARY DAMAGES ARISING OUT OF OR IN CONNECTION WITH USE OF THE PLATFORM, WHETHER OR NOT THE COMPANY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. UNDER NO CIRCUMSTANCES SHALL THE COMPANY BE LIABLE TO YOU FOR ANY AMOUNT.

Indemnity

Whenever you use your Credit Card or Debit Card in order to obtain or utilize any of the benefits, facilities or arrangements offered or available as a result of your membership of the IDFC FIRST Bank’s Reward, you will be personally liable for any and all costs, charges, claims or liabilities of whatever nature arising from use of such benefits, facilities or arrangements.

You agree to hold harmless and indemnify IDFC FIRST Bank / Company, and its employees, agents and representatives, from and against any third party claim, including any liability or expense arising from all claims, losses, damages (actual and consequential), suits, judgments, litigation costs and attorneys' fees, of every kind and nature. The Customer agrees and undertakes to indemnify and hold IDFC FIRST Bank/ Company harmless against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses whatsoever which IDFC FIRST Bank may at any time incur, sustain, suffer or be put to as a consequence of the customer’s gross negligence or wilful default mistake/misconduct by the Customer of any of these Terms.

The existence of a dispute, if any, regarding the prizes under this Offer shall not constitute a claim against the Bank.

Other Restrictions on Conduct

You shall not assign these Terms or assign any rights or delegate any obligations hereunder, in whole or in part, whether voluntarily or by operation of law, without The Company’s prior written consent. Any such purported assignment or delegation by you without The Company’s prior written consent will be null and void and of no force or effect, unless otherwise expressly consented to by The Company at its sole and absolute discretion.

Severability and Enforceability

If any provision or portion of these Terms is held illegal, invalid, or unenforceable, in whole or in part, it shall be modified to the minimum extent necessary to correct any deficiencies or replaced with a provision which is as close as is legally permissible to the provision found invalid or unenforceable and shall not affect the legality, validity or enforceability of any other provisions or portions of these Terms.

Termination/Exclusion

We reserve the right, in our sole discretion, to revoke any and all privileges associated with accessing and/or competing on the platform, and to take any other action we deem appropriate including but not limited to terminating or suspending your use, for no reason or any reason whatsoever, including failure to comply with these Terms.

Choice of Law and Forum

All disputes arising out of or in connection with this offer shall be settled by Arbitration to be held in accordance with the provisions of the Arbitration & Conciliation Act, 1996 and referred to a sole arbitrator to be nominated by the Bank. The venue for arbitration shall be Mumbai and subject to the jurisdiction of courts at Mumbai. The existence of a dispute, if any, shall not constitute a claim against IDFC FIRST Bank.

Disclaimer:

Notwithstanding the periodicity of the transaction, in case of partial /full refunds or any transaction reversals, IDFC First Bank, at its sole discretion, shall have the right to reverse the credited points in proportion or in full, as the case may be.

Notwithstanding the periodicity of the transaction, in case a suspicious transaction is identified by IDFC First Bank, IDFC First Bank at its sole discretion shall be at liberty to recover the amount equivalent to the value of such reward points consumed by the customers in such transaction from customer’s account and block the customer from its rewards program.