Terms and Conditions - Doorstep Banking Services

 

These Terms and Conditions (“Terms and Conditions”) apply to and regulate the provision of Door Step Banking Services offered by IDFC FIRST FIRST Bank Limited to the Customers in India

  1. In these Terms and Conditions, the following words and phrases have the meaning stated hereunder unless indicated otherwise
    1. "Account" refers to the savings / current / operative account of the Customer with IDFC FIRST FIRST Bank Limited, which is designated as eligible account by IDFC FIRST FIRST Bank Limited for the Services.
    2. “Business Day” means a day on which Branch is open for the transaction of ordinary banking business in India.
    3. “Branch” means the branch of IDFC FIRST FIRST Bank Limited with whom the Account is maintained.
    4. “Cash” shall mean currency notes in circulation in India.
    5. "Customer" refers to an individual / entity having an account with IDFC FIRST FIRST Bank Limited and requesting for availing the Services for which request has been accepted by IDFC FIRST FIRST Bank Limited.
    6. “Document” shall mean such documents in relation to which IDFC FIRST FIRST Bank Limited may, at its sole discretion, agree to provide the Service.
    7. “General Terms and Conditions” shall mean terms & conditions and rules applicable to all the accounts which are existing or may be opened anytime in future with IDFC FIRST FIRST Bank Limited and shall include any changes / amendments thereto from time to time. The Customer acknowledges as having read, understood and accepted the General Terms and Conditions.
    8. “IDFC FIRST Bank Limited” or “Bank” shall mean IDFC FIRST Bank Limited, a company registered under the Companies Act, 2013 and a banking company within the meaning of Banking Regulation Act, 1949 having its Registered Office at KRM Tower, 8th Floor, No: 1, Harrington Road, Chetpet, Chennai – 600031.
    9. "Instruments” shall mean cheques, pay orders, demand drafts and such other negotiable instruments drawn by Customer/ drawn in favor of Customer.
    10. "Instruction" refers to the requests made by the Customer for availing the Service through such medium as approved by IDFC FIRST Bank Limited from time to time.
    11. “Welcome Letter” shall mean letter issued by IDFC FIRST Bank Limited to the Customer in connection with the Service and would include any variations and amendments thereto, from time to time by issue of letters in writing by IDFC FIRST Bank Limited.
    12. “Service” shall mean collection and delivery of Instruments and/or Documents and/or Cash from Specified Locations pursuant to Instructions of Customer in accordance with the Reserve Bank of India Guidelines, and Terms and Conditions.
    13. “Service Provider” means any correspondent bank(s) and/or third party service provider engaged by IDFC FIRST FIRST Bank Limited from time to time for the purpose of providing the Services.
    14. “Specified Locations” shall mean the places of collection/ delivery as specified by Customer in its application for availing Services and as enlisted in the Welcome Letter or such other locations as may be agreed in future from time to time upon such other terms and conditions and commercials as may be prescribed by IDFC FIRST FIRST Bank Limited in this regard. At sole discretion
    15. “Web-site(s)” shall mean the web-site(s) bearing URL(s) http://www.IDFcbank.com the content of which is owned and controlled by IDFC FIRST Bank Limited.
    16. Cash Collection” service means deposit of cash at the Bank, either by the Client through their agencies or by agencies appointed by the Bank
    17. “Scratch Card Booklet” means booklet containing daily security codes, provided to the Client by the pick-up agency
    18. “OTP” means One Time Password sent across to the Clients authorized mobile number before the daily cash pickup (applicable for beat as well as adhoc pickup)
  2. IDFC FIRST Bank Limited has at the request of the Customer agreed to provide the Services from the Specified Locations. The Customer will give IDFC FIRST Bank Limited requisite proof for Specified Locations.
  3. The charges / costs / fees etc. as notified by IDFC FIRST Bank Limited from time to time in relation to the Service and same shall be debited from the Account or such other account as may be designated by the Customer in this regard. The Customer also agrees to reimburse additional cost, if incurred by IDFC FIRST Bank Limited, on account of customer's location being situated beyond municipal city limits. Customer agrees and undertakes to duly comply with the Terms and Conditions, General Terms and Conditions and all obligations as mentioned in the process guidelines explained in the as detailed in the Welcome Letter. The General Terms and Conditions not repugnant to the Terms and Conditions shall continue to apply and shall not be, in any way, over-ridden, annulled, amended, modified or substituted by the Terms and Conditions
  4. The Customer accepts and acknowledges that the Services may be provided by IDFC FIRST Bank Limited with the involvement of Service Provider and the Customer hereby authorizes IDFC FIRST Bank Limited to appoint any such Service Provider who will act upon the instructions of IDFC FIRST Bank Limited to provide the Services to the Customer on behalf of IDFC FIRST Bank Limited and IDFC FIRST Bank Limited will be responsible for any acts of omission or commission of the Service Provider.
  5. The Customer undertakes to issue all Instructions in connection with the Services in the manner and mode prescribed by IDFC FIRST Bank Limited from time to time. The Customer agrees and understands that IDFC FIRST Bank Limited shall act on the Instructions of the Customer only if in the opinion of IDFC FIRST Bank Limited such Instructions are clear and unambiguous. IDFC FIRST Bank Limited shall not be required to independently verify the veracity, authenticity or validity of the Instructions. IDFC FIRST Bank Limited shall have no liability arising from execution of the Instruction given by the Customer or for delay in carrying out the Instructions or where it does not or is unable to stop or prevent the carrying out of or the execution/ implementation of an Instruction that is subsequently withdrawn by the Customer.
  6. The Customer shall be responsible for the correctness of Instructions. IDFC FIRST Bank Limited shall not be liable for any consequences arising out of erroneous Instructions given by the Customer. If the Customer notices an error in the Instructions, the Customer shall immediately advise IDFC FIRST Bank Limited. IDFC FIRST Bank Limited shall endeavor to correct the error wherever possible on a reasonable best efforts basis. The Customer acknowledges and agrees that the Instructions shall be processed by IDFC FIRST Bank Limited only if the same are received on a Business day and during the normal banking hours of IDFC FIRST Bank Limited and are authenticated according to the internal guidelines of IDFC FIRST Bank Limited.
  7. The Customer agrees and understands that IDFC FIRST Bank Limited shall have a right to suspend or reject to carry out the Instructions at any time in its sole discretion without assigning any reason or notice to the Customer. The Customer undertakes not to hold IDFC FIRST Bank Limited liable for any loss which it may have to incur due to the foregoing.
  8. The Customer shall indemnify, defend, and hold harmless the Bank for any loss (whether financial or non-financial AND whether direct or indirect) suffered by the Bank from any and/or all liability that may become due on account of (i) any instructions/request through facsimile and/or through email for delivery of cash or any financial instrument (ii) any alleged non-payment of any or all of such taxes, levies, duties, assessments, or deductions, statutory dues including, among other things, any penalties and interest thereon assessed by any federal, state or local government authority against the Bank and all costs and expenses including attorney's fees incurred in defense of any such assessment, non-payment of statutory dues pertaining to the services including the purpose/s of the said services opted/to be opted from the Bank as well as against all the consequences of breach of any of the terms.
  9. The Customer is aware of the risks such as fraud by Service Provider, loss of Instruments in transit and other risks in availing of the Services, which may result into delayed credits.
  10. Customer agrees and understands that IDFC FIRST Bank Limited will use its best efforts to process all Instruments / give credit for the Instruments/Cash received up to a 'cut off time' on Business Day. Instruments / Cash received after the cut off time will be processed on the following Business Day.
  11. In the case of Instruments, the Account will be credited after the same are received, processed and verified by IDFC FIRST Bank Limited which may be on the same day or on the following Business Day depending on the time the Instrument has been picked up from Specified Location and received by the Branch/IDFC FIRST Bank Limited.
  12. The Service Provider will pick up the Instruments only if they are accompanied by proper deposit slips properly completed with all details, in the form and manner prescribed by IDFC FIRST Bank Limited.
  13. Client hereby agrees to follow the pick-up procedure established by the Bank through its service provider of using Hidden Code Identification (HCI) System/One Time Password (OTP). A security code card booklet, which may be amended from time to time by the Bank, will be provided to the Client before the start of the Cash Collection Service. Alternatively, the Client may receive an OTP before the designated cash pick up by the agency. The Bank and/or the agency will not be liable for any misuse of any security code card booklet as provided by the Bank from time to time and which is in custody of the Client. Customer shall be liable for consequential losses, if any, thereof in case of not adhering to the advised security measures
  14. The customer is made aware of the risks such as non- continuance of Service, delayed transactions for whatsoever reasons, shortage of money and other risks in availing of the Service resulting into acts such as delayed services, loss of money, etc. The Customer hereby agrees at all times to keep IDFC FIRST Bank Limited fully indemnified for and against any claim or demand or losses of howsoever made in respect of or connected with any of the risks mentioned above.
  15. In the event of cash shortage or loss of entire cash due to any theft, robbery in transit or such other unforeseen circumstances before the same is deposited with IDFC FIRST Bank Limited, Customer shall not insist IDFC FIRST Bank Limited to pay interest for consequential delay in crediting the amount to the Account.
  16. At the time of handover of Cash/Instruments, the Customer shall ensure that deposit slip is filled legibly and it is complete in all respects (including but not limited to account number, amount in figures and words, Service Provider stamp with date and signature is clear, PAN, if required. After the process is completed, the Service Provider will acknowledge the deposit slip with the stamp “On behalf of IDFC FIRST Bank Limited Bank” and hand over a copy to the Customer. The same to be treated as acknowledgement for handover of cash to IDFC FIRST Bank Limited's representative
  17. Customer undertakes to keep IDFC FIRST Bank Limited informed with respect to any changes in details of the persons authorized on behalf of the Customer to deal with the Service Provider, failing which IDFC FIRST Bank Limited has the absolute right to allow or disallow the Services.
  18. The amount of Cash that can be picked up will be subject to prevailing minimum and maximum limits set by IDFC FIRST Bank Limited, from time to time.
  19. Customer shall ensure that the Cash bundles are bundled & held together and labelled with paper slip with the tamperproof Company seal on the top of the label. The label should bear the Customer's details & signature of the authorized person who need not necessarily be the authorized signatory to the Account.
  20. The Service Provider reserves the right to refuse Cash pick-up in case the same is not bundled and/or does not bear the paper slip with and signature of the Customer('s) / Customer's representative who has counted and verified the Cash.
  21. The Service Provider will count the cash and wherever deems fit take the assistance of the note counting machine(s) installed at the cash offices.
  22. The cash pickups will be accepted in denominations of, Rs.100/-, Rs. 500/- and Rs. 1000/ only. Any other denomination may be accepted under the sole discretion of IDFC FIRST Bank. All deposits to be made by the customer will mainly be in bundles, which are banded and signed by the customer.
  23. The Bank, after accepting cash for deposit, shall determine its authenticity/ genuineness and verify and count the same with the amount filled up in DSB slip/s. In the event of Bank ascertaining that cash so received is counterfeit/soiled/short, such determination shall be final and binding on the Client. The Client shall without any demur/ protest, cooperate with the Bank in complying with all the requisite formalities in light of such determination by the Bank. Counterfeit notes detected shall be retained and dealt as per the existing regulatory/statutory and IDFC FIRST Bank’s internal guidelines on handling of counterfeit notes.
  24. The cash maybe counted and verified by the Bank appointed pick up agency at the Client’s premises as per charges agreed between the Client and the Bank. In the event of counting & verification facility being availed, any counterfeit/soiled/short/ discrepancy observed subsequently, the responsibility remains with the agency. In the event of counting & verification facility not being availed, agency ascertaining that cash so received is counterfeit/soiled/short, such determination shall be final and binding on the Client. Counterfeit notes detected shall be retained and dealt as per the existing regulatory/statutory and IDFC FIRST Bank’s internal guidelines on handling of counterfeit notes.
  25. The Customer's account will be credited after Cash is received, processed and verified by IDFC FIRST Bank Limited, anytime on the same day or next Business Day depending on the time at which the Cash has been picked up from the Specified Location and received by IDFC FIRST Bank Limited/the Branch. In case of discrepancy being reported by the service provider, IDFC FIRST Bank will be authorized to debit Customer’s account for the apparent value represented by the note/s. In case of pick-up the Service Provider will wait at the Specified Location for a maximum time of 10 minutes as a part of security measure. The Service Provider may at his own discretion wait for further time.
  26. By using the Service, the Customer irrevocably consents to the disclosure of information (including but not limited to details of Cash / Instruments deposited/withdrawn, IDFC FIRST Bank Limited account number(s) and other Customer related information) to the Service Provider.
  27. If the Services by IDFC FIRST Bank Limited shall be prevented, suspended or postponed due to any force majeure causes, including but not limited to strikes or lockouts or riots or civil commotion, or other acts of God or acts of Government, changes in legislation, or any cause of whatsoever nature beyond the reasonable control of IDFC FIRST Bank Limited, IDFC FIRST Bank Limited shall be relieved of its obligations hereunder in so far as its provision of the Services was so prevented or hindered or its said failure was so caused as aforesaid and IDFC FIRST Bank Limited shall not be deemed to be in default so long as any such event or the effect thereof persists
  28. IDFC FIRST Bank Limited may, at its discretion, withdraw temporarily or terminate the Services, either wholly or in part, at any time without giving prior notice to the Customer. IDFC FIRST Bank Limited will endeavor to give a reasonable notice for withdrawal or termination of the Services.
  29. The Customer hereby undertakes to indemnify and keep IDFC FIRST Bank Limited indemnified saved, defended and harmless at all times from and against all claims, losses, costs (including legal costs on a full indemnity basis), charges, damages, expenses, actions, proceedings and any liability of whatsoever nature or description which may be sustained or incurred by IDFC FIRST Bank Limited arising out of or in connection with the Services or acting in accordance with the arrangement herein, or failing/refusing to act. The Customer hereby waives any rights, claims, actions or proceedings which it may have against IDFC FIRST Bank Limited for any losses or liabilities which it may suffer as a consequence of the arrangement herein.
  30. The Services provided to the Customer is not transferable under any circumstance and shall be used only by the Customer. However, IDFC FIRST Bank Limited shall have the right to transfer, assign or sell all its rights under these Terms and Conditions, which shall continue to be in force and effect for the benefit of the successors and assigns of IDFC FIRST Bank Limited.
  31. The Customer authorizes IDFC FIRST Bank Limited, at its discretion, and without further prior notice to the Customer, to monitor and record any or all telephone conversations or electronic communications between the Customer and IDFC FIRST Bank Limited and any of its employees or agents.
  32. IDFC FIRST Bank Limited shall have the absolute discretion to amend or supplement any of the Terms and Conditions, processes, features and benefits offered on the Services including, without limitation to, changes which affect charges or rates and methods of calculation at any time. IDFC FIRST Bank Limited may communicate the amended Terms and Conditions by hosting the same on its website or in any other manner as decided by IDFC FIRST Bank Limited. The Customer shall be deemed to have accepted the amended Terms and Conditions by continuing to use the Services.

  33. Schedule of charges

  34. IDFC FIRST Bank Limited Bank (the 'Bank') may, at its sole discretion, levy and recover from the customer(s) charges as per the schedule of charges applicable for Doorstep Banking Services as published by the Bank on its website as may be modified from time to time.
  35. The Customer also agrees to reimburse additional cost, if incurred by IDFC FIRST Bank Limited, on account of customer's location being situated beyond municipal city limits.

  36. Common clause for all lifecycle charges under the customer agreement

  37. The Charges shall be exclusive of all applicable taxes and statutory levies (including without limitation service tax), and shall become payable only upon the Bank exercising its right at such intervals/ instalments as it may decide to levy/waive the Charges and actual charge/ recovery of the same from the customer(s), which may be indicated in the periodic account statements sent or in separate invoices or other similar document.
  38. Bank's Rights and remedies against customer and waivers
  39. No delay or omission to exercise any right, power or remedy accruing to Bank upon any breach or default of the customer(s) under this Agreement shall impair any such right, power or remedy of Bank either under this Agreement or generally under any other law in place for the time being in force. Any waiver/acquiescence in respect of the Specified Event, relating to the levy of Charges, under this Agreement shall be at sole discretion of Bank whether or not under intimation to the customer(s).
  40. Bank further reserves the right to modify the Charges including addition of further category of similar Charges or waiver of any such Charges at its sole discretion, in connection with any Specified Event. The customer(s) absolutely and irrevocably acknowledges and consents that it shall be bound by any such modification in the nature or extent of Charges even if it the same is not expressly documented or intimated and the same shall be deemed to be an alteration/ modification to the terms of this Agreement.
  41. These terms and conditions shall be governed by the laws of India and subject to the jurisdiction of the courts in Mumbai.
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Contact us

REGISTERED office:

IDFC FIRST Bank Ltd

KRM Tower, 7th Floor, No. 1,
Harrington Road, Chetpet,
Chennai - 600031, Tamil Nadu,
India

Corporate office:

IDFC FIRST Bank Ltd

Naman Chambers,
C-32, G-Block,
Bandra-Kurla Complex,
Bandra East, Mumbai - 400051,
India

IDFC FIRST Bank Customers

Toll Free No - 1800 419 4332
Email - Banker@idfcfirstbank.com

Capital First Customers

Toll Free No - 1860 500 9900
Email - Customer.Care@Capitalfirst.Com

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