The terms Internet Banking and Internet Banking facility will be used interchangeably as the context may require. The Customer accepts that, at the request of the Customer, the Bank may, at its sole discretion, agree to provide the Internet Banking facility through the Website and/or as per written instructions given/to be given to the Bank by the Customer.
The Bank may also make additions / deletions to the services offered through Internet Banking facility at its sole discretion. The availability / non-availability of a particular service may be advised / notified through e-mail or SMS or Web-site or through such other mode of communication as the Bank at its sole discretion deem fit.
In case of Joint Accounts and Accounts with two or more signatories, the Bank will offer such services as restricted by the terms and conditions governing the operation of such Accounts.
In case of Minor Accounts, the natural guardian undertakes to give all instructions relating to the operation of the account and further undertakes not to reveal the customer identification number and IPIN to the Minor.
The list of services which the Bank will offer will include account related information, product holdings and other request based transactions (both financial and non-financial in nature). Some of the services will include Account, Debit Cards, loans related and any such Facilities introduced by the Bank from time to time. Customer here refers to any person who having a Bank Account / Loan Account and are authorised to avail the same.
User ID is a Customer created unique identifier selected by each Customer. Customer will also select / set his own Internet Banking Password (“IPIN”). Both the above will only be known to the Customer. IPIN is the Password that the Customer needs to use along with the User ID in order to do his Internet Banking transactions.
Internet Banking facility will be available to the Customers upon opening of Account with the Bank without requiring completion of any formalities for activation of such service. However, the Bank in its sole discretion reserves a right to not make available the Internet Banking facility in relation to some of the Accounts. The Customer further understands and accepts that these Terms and Conditions are in addition to any and all such specific terms and conditions as may be applicable to the Internet Banking facility (including applicable payment methods/charges). Further, the Customer also authorize the Bank to recover all charges related to Internet Banking as determined by the Bank from time to time by debiting his Account and confirm that the Schedule of Charges would be applicable as mentioned on the website.
User ID and IPIN:
The Customer is aware of the confidential nature of the IPIN and confirms that neither the Customer nor any Authorized Signatory/Account Representative of the Customer shall disclose the IPIN to any person.
The Customer shall select a User ID and IPIN which are at least 6 characters long and shall commit them to memory and not write / reveal the same in any form or manner.
The Bank shall not be required to verify or judge the correctness of any instructions received by it, so long as it satisfies itself of the correctness of the I-PIN used to transact on the Internet Banking service. The Customer acknowledges that any instruction received by the Bank shall be irrevocable. Should any instruction issued by the Customer, be capable of being executed by the Bank in more ways than one, the Bank may execute the said instruction in any one of the said ways at the Bank’s sole discretion.
Internet Banking Transactions:
All financial transactions are instantaneous and straight through in nature and shall be processed immediately unless stated otherwise. For specific financial transaction requests like demand draft, pay order etc., the transaction will be effected immediately and the request will be processed on the next Working Day from a delivery point of view. For transactions and requests like Term/Fixed Deposits etc., the transaction will be effected immediately and depending on the time of the transaction, the credit shall be effected in the account.
All transactions will be carried out on First In First Out basis. It is the Customer’s responsibility to ensure sufficient and clear funds are available in the Account. In case instructions for effecting any transactions are received on a day other than Working Day, they shall be effected on the immediately succeeding Working Day.
The transactions, which may require, transfer of the funds or issue of demand draft or similar such services may not fructify in case the details of the beneficiary are not entered correctly by the Customer. Hence it may not reach the intended beneficiary.
In the event of any inaccuracy in this regard, the funds could be transferred to incorrect accounts or the demand draft maybe incorrectly issued or sent to a wrong address and there is no guarantee of recovery of the same thereafter. Thus, it is the Customer’s responsibility to ensure that the information given to the Bank is error free, accurate, proper and complete at all points of time.
Internet Banking Risks: In case sensitive Customer Personal Data is available to a third person / party either by the Customer sharing the details, writing down the same, using Internet Banking from a shared computer/network/ cyber café terminal, the said third person / party could carry out Account related instructions including funds transfer and other such transactions which can result in an un-authorised debit from the Customer’s Account. The Customer shall take sufficient precautions to avoid any spillage of Customer Personal Data, Confidential Information, User ID or password. The Bank shall not be responsible for damages to the Customer due to such incidence.
Internet Banking limits: The Bank from time to time may introduce / impose maximum and minimum limits including daily limits on transfer of funds that may be transferred or amount of the demand draft that can be issued by the Customer through Internet Banking. The Bank will display appropriate message on the relevant screens/Website, which the Customer shall take note and adhere with terms mentioned there.
Internet Banking – Customer obligations:
The Customer shall not be discharged by transmission over the Internet of any notice, instruction or request which, as per the terms hereof or any other specific terms and conditions, require the Customer to send the same in writing. The Customer acknowledges and confirms that all records of instructions received from the Customer maintained by the Bank, in electronic or documentary form (including without limitation logs of Internet Banking facility transactions and SMS/Mobile transactions), and such other details (including but not limited to payments made or received) shall, as against the Customer, be deemed to be conclusive.
The Customer shall not interfere with, alter, amend, tamper with or misuse in any manner whatsoever (the opinion of the Bank being conclusive in this respect), the Internet Banking facility.
In the event of any alleged improper or fraudulent use of the Account through the Internet, the Customer agrees that the Customer shall be solely and exclusively responsible for all loss caused thereby and shall not hold the Bank liable for any loss caused thereby.
The Customer understands and accepts that the instructions given through the Internet Banking may also include instructions to change the Customer’s demographic details such as residence and or mailing address, residence and or office telephone number, mobile phone number, e-mail address or any other personal details of the Customer as decided by the Bank from time to time.
While it will be the Bank’s endeavour to provide Internet Banking facility at all times on a 24 x 7 basis, the Customer confirms and agrees that they shall not hold the Bank responsible or liable for any failure to provide the Internet Banking facility by reason of the services being temporarily unavailable or there being an overload on the server or for any other technical or other reason, whatsoever.
Proprietary Rights: The Customer acknowledge that the software and hardware underlying the Internet Banking facility as well as other Internet related software which are required for accessing Internet Banking are the legal property of the Bank or Third Party Service Provider. The permission given by the Bank to access Internet Banking will not convey any proprietary or ownership rights in the above software / hardware. The Customer also agree that he shall not attempt to modify, translate, disassemble, decompile or reverse engineer the software / hardware underlying Internet Banking facility or create any derivative product based on the software / hardware. The copyright, trademarks, logos, slogans and service marks displayed on the Web-site are registered and unregistered intellectual property rights of Bank or of respective intellectual property right owners. Nothing contained on the Web-site should be construed as granting, by implication, estoppels, or otherwise, any license or right to use any intellectual property displayed on the Web-site without the written permission of Bank or such third party that may own the intellectual property displayed on the Web-site. The Bank grants the right to access the Web-site to the user of Internet Banking facility and use the Internet Banking facility in accordance with these Terms & Conditions mentioned herein. The user of Internet Banking facility acknowledges that the services including, but not limited to, text, content, photographs, video, audio and/or graphics, are either the property of, or used with permission by, Bank and/or by the content providers and may be protected by applicable copyrights, trademarks, service marks, international treaties and/or other proprietary rights and laws of India and other countries, and the applicable terms & conditions.
The user of Internet Facility agrees and understands that everything he/she views or reads on the Web-site (collectively referred to as "content") is copyrighted/ protected by intellectual property laws unless otherwise provided and may not be used, except as provided in these Terms & Conditions, without the prior written permission of Bank or the relevant copyright owner. Any breach of the restrictions on use provided in these Terms & Conditions is expressly prohibited by Law or Regulation, and may result in severe civil and criminal penalties. Bank shall be entitled to obtain equitable relief (including all damage, direct, indirect, consequential and exemplary) over and above all other remedies available to it, to protect its interests therein.
The Website may provide hyperlinks to websites not controlled by the Bank and such hyperlinks do not imply any endorsement, agreement on, or support of the content, products and /or services of such websites. The Bank doesn’t editorially control the content, products and /or services on such websites and shall not be liable, in any nature whatsoever, for the access to, or the inability to access to, or the use, inability to use or content available on or through such websites.
The Bank has adopted the mode of authentication of the user of Internet Banking facility by means of verification of the User ID and or through verification of password or through any other mode of verification as may be stipulated at the discretion of the Bank. The user of Internet Banking facility hereby agrees/consents for the mode of verification adopted by the Bank. The user of Internet Banking facility agrees that the transactions carried out or put through by the aforesaid mode shall be valid, binding and enforceable against him/them and shall not be entitled to raise any dispute questioning the transactions.
Anti-Virus Update: The user of Internet Banking facility needs to get his PCs/laptops scanned on a regular basis and be updated with the latest antivirus software available. The Bank shall not be responsible in case of any data loss or theft due to the virus transmitted in the system through the usage of Internet Banking facility.
The Bank shall not be liable for delay in performing or failure to perform any of its obligations under these Terms & Conditions which is caused by circumstances beyond its reasonable control, including, but not limited to, the failure, malfunction or unavailability of telecommunications, data communications and computer systems and services, natural calamities, war, civil unrest, government action, strikes, lock-outs or other industrial action or trade disputes (whether involving the Bank’s employees or those of a third party). Any delay or failure of this kind will not be deemed to be a breach of these Terms & Conditions and the time for performance of the affected obligation will be extended by a period which is reasonable in the circumstances.
Termination of Internet Banking facility: The Customer can request for termination of the Internet Banking facility any time by giving a written notice of at least 15 days to the Bank. The Customer agree that he will remain responsible for any transactions made on his Account(s) through Internet Banking facility prior to the time of such cancellation of the Internet Banking facility. The Customer also understands that closure of all his Accounts will automatically terminate the Internet Banking facility. The Bank may at its sole discretion, at any time without giving notice or reasons suspend or terminate all or any of the Internet Banking facility offered by the Bank or there use for reasons such as (a) Breach of these Terms & Conditions by the user of Internet Banking facility (b) Knowledge or information about the death, bankruptcy or legal incapacity of the user of Internet Banking facility.
IDFC FIRST Bank Ltd
KRM Tower, 7th Floor, No. 1,
Harrington Road, Chetpet,
Chennai - 600031, Tamil Nadu,
IDFC FIRST Bank Ltd
Bandra East, Mumbai - 400051,