Terms and Conditions
Terms & Conditions for use of Internet Banking Services ("Banking Services")
These Terms & Conditions (T & Cs for iBanking/T&C) govern and apply to the use of the iBanking Services.
In these Terms and Conditions "you" and "your" mean the customer and Authorised User and the guardian of a minor in case of the customer being a minor. "We","our" and "us" refers to DBS Bank Ltd. and its successors and assigns or to any "Affiliate" (as defined in clause 78 below) if any services are being provided by an Affiliate under these Terms and Conditions. You must confirm that the iBanking Services shall be used only by you.
You and the Authorised User agree that in the event you and the Authorised User avail of any services / facilities offered by DBS Bank Ltd. through the Channel, you and the Authorised User shall be bound by all the Terms and Uonditions pertaining to such services / facilities, offered by DBS Bank Ltd. By clicking on the "I agree" button, you agree to be legally bound by these T&Cs.
We will provide iBanking Services to you only if you have an active Account(s)which we deem to be eligible and a valid and existing mobile number, mailing and email address and the same is available with us in our record. If at any time you cease to have an eligible Account or fail to provide an updated mobile number or address, we reserve the right to deny you access to the iBanking Services.
Funds transfer to other accounts. If funds transfer is made available to you, it may be used for transfer of funds from Account to other accounts belonging to third parties maintained at DBS Bank Ltd. and/or at any other bank. In the event such transfer of funds is from the Account to accounts belonging to third parties maintained at any other bank, which falls under the network of Reserve Bank of India's Electronic Fund Transfer system, then the same shall be governed by the Terms and Conditions applicable to National Electronic Funds Transfer (NEFT) / Real Time Gross Settlement (RTGS) of the Reserve Bank of India as provided on our website. You shall be responsible for keying in the correct account number and IFSC Code for the fund transfer request. In no case DBS Bank Ltd. will be held liable for any erroneous transactions incurred arising out of or relating to your entering wrong account number and/or IFSC Code. DBS Bank Ltd. will endeavour to affect funds transfer transaction received through iBanking subject to availability of sufficient funds in the Account and confirmation of payee registration by you (i.e. confirmation to whom you will transfer funds). DBS Bank Ltd. shall specify from time to time the limit for carrying out various kinds of funds transfer or any other services through iBanking. This facility will be provided in accordance with the arrangement between DBS Bank Ltd., its Affiliates and Providers and as per conditions specified by DBS Bank Ltd. from time to time.
By agreeing to be bound by these T & Cs for iBanking, you undertake that the transfers initiated by you and the transactions undertaken by you for either Non Resident External (NRE) Account or Non Resident Ordinary (NRO) Account or Foreign Currency Non Resident(FCNR) Account shall be in accordance with the requirements of Foreign Exchange Management Act, 1999 ("FEMA and all subsequent rules, regulations, notifications, directions, amendments or orders made thereunder. As per the declaration under Section 10 (5) of FEMA, you agree to abide by and be bound by all foreign exchange transactions as may be initiated by you from time to time. You confirm that the transactions shall not involve and shall not be designed for the purpose of any contravention or evasion of the provisions of FEMA or of any rule, regulation, notification, direction or order made thereunder. You also agree to undertake to give such information/documents as will reasonably satisfy us about the transaction in terms of the above declaration. You also understand that if you refuse to comply wholly or partly with any such requirement we shall, if we have reason to believe that any contravention / evasion is contemplated by you, report the matter to RBI. You also agree to be aware that relying upon your declaration we may not insist upon your giving specific declaration-cum-undertakings in case of each such transaction. You also undertake to strictly operate and use the iBanking Services in accordance with the Exchange Control Regulations as laid down by RBI or any other authority from time to time.
You agree and undertake to fully indemnify us, our Affiliates, service providers, subcontractors, and agents, and to hold each of the aforementioned parties harmless, from and against all liabilities (including settlement sums), losses, charges and expenses (including legal fees and disbursements on a solicitor-client basis), claims, demands, actions and proceedings which we, our Affiliates, service providers, subcontractors and agents may incur, suffer or sustain directly or indirectly from or by reason of or in relation to the use, misuse or purported use or misuse of the iBanking Services, and shall pay such monies to us upon our demand.
You shall ensure that there are sufficient funds (or prearranged credit facilities) in any Account for transaction through iBanking and we shall not be liable for any consequences arising out of its failure to carry out the instructions due to inadequacy of funds and/or credit facilities provided always that we shall at our sole discretion, be entitled to carry out the instructions notwithstanding such inadequacy without seeking the prior approval from or notice to you and you shall be responsible to repay with interest the resulting overdraft, advance or credit thereby created and for all related costs and charges. We may withdraw the provision of iBanking, wholly or partly, if at any time the amount of deposit falls short of the required minimum as aforesaid and/or if the service charges remain unpaid, without giving any further notice to you and/or without incurring any liability or responsibility whatsoever by reason of such withdrawal.
In addition to these Terms and Conditions, other Terms and Conditions may also apply to you: