The digibank Mobile Transfer Program
Terms and Conditions
- Program – digiSavings customers (“Customers”) can earn ₹250 for each eligible ‘Mobile Transfer’ to their friends and families (“Friend/s”) who do not bank with digibank and their friend spending ₹5,000 within 30 days of opening digiSavings account.
- All Friends of such Customers will be eligible for a cashback of ₹250 on transacting minimum of ₹5,000 or more with their physical digibank Debit Card within first 30 days of converting to digiSavings.
- Program Period – 15th July, 2018 to 30th June, 2021 (both days inclusive).
- "Eligible Mobile Transfer" means (a) fund transfer to a Friend by Customer using ‘Mobile Transfer’ option in digibank app i.e. using the steps – ‘INVITE & EARN’ > ‘ENTER MOBILE NUMBER’ > ‘FUND TRANSFER’ and (b) opening of account by the Friend by clicking on the SMS linked to the aforesaid ‘Mobile Transfer’ during the Program Period and (c) the Friend spending ₹5,000 using physical digibank debit card within 30 days of opening the account.
Cashback Offer for Friends
- Friends need to open account within 15 days of receiving the mobile transfer funds and spend ₹5,000 or more using physical digibank debit card on POS/e-POS, in single or multiple transactions, within 30 days of opening the account, to avail the cashback offer.
- Excluded Transactions for ₹250 cashback: Debit Card transactions for funding prepaid payment instruments, funding a digibank (wallet or savings account) using digibank Debit card, cash withdrawals at ATMs or DBS Bank branches, void transactions, reversal or refund on POS or ePOS transaction, tax payments or mutual fund purchase will not be considered as a spend under this Program.
- Only digiSavings customers are eligible for this Program.
- For ₹250 credit - Customers will be required to make a mobile transfer of ₹1 or more using "INVITE & EARN" option in the digibank app and then transfer using mobile number of a Friend during the Program Period. Customer’s Friend/s should have opened account within 15 days of Mobile Transfer and performed minimum transaction of ₹5,000 using physical digibank debit card.
- For ₹250 cashback - Friends need to open account within 15 days of receiving the Mobile Transfer funds and spend ₹5,000 or more using physical digibank debit card in single or multiple transactions within 30 days of opening the account.
Other Terms & Conditions
- If your Friend/s do not open digibank account within 15 days, the money transfer initiated by the Customer will be reversed and funds will be credited to the Customer’s account. The amount held by DBS Bank India Limited while processing Customer’s Fund Transfer request shall not earn any interest.
- DBS Bank India Limited reserves the right to debit your account at its sole discretion in case credits/cashback posted in a Customer’s digiSavings account exceed 20 (twenty) number of eligible Mobile Transfers per calendar month. The Customer authorizes DBS Bank India Limited, it associates, subsidiaries and affiliates to contact him/her.
- The Customer declares that due consent has been obtained from the Friend, to provide his/her contact details to DBS Bank India Limited to contact the Friend to offer its range of banking services and products. The Customer agrees and undertakes that s/he shall be responsible to DBS Bank India Limited, it associates, subsidiaries and affiliates for any losses or claims that may be occasioned upon DBS Bank India Limited, in the event that such declaration or undertaking is found to be untrue.
- As part of the Program, the Friend acknowledges, understands and agrees that when he receives the money transferred by the Customer, the Customer will know that the Friend has an account with DBS Bank India Limited. If the Friend desires to avoid disclosing this personal information, the Friend may choose to apply independently and not respond to this Program. Likewise, by transferring funds to the Friend, the Customer acknowledges, understands and agrees that the Friend will know that the Customer stands a chance to get ₹250 for eligible Mobile Transfer. If the Customer does not desire to disclose this information, he/she should not participate in this Program.
- ₹250 will be credited in Customer’s account for every eligible Mobile Transfer, within 15 working days of the successful Aadhaar authentication by your Friend during the Program Period and your Friend spending ₹5,000 using physical digibank debit card within 30 days of opening the account.
- Friend should not be an existing digibank account holder.
- If two different Customers register a same Friend, the one who sent the first Mobile Transfer to the same Friend, will be considered as an eligible Mobile Transfer.
- Opening of digibank account is subject to internal policies of DBS Bank India Limited.
- Cashback of ₹250 will be credited in the account of the eligible Friend/s within 15 working days from the date of completion of ₹5,000 transaction through POS/ ePOS using physical digibank debit card. Tax liability arising from the Program, if any, will be solely borne by the Customer/Friend. DBS Bank India Limited will have the right to deduct TDS, if applicable, as per existing regulations.
- Account closed and opened under same Aadhaar and PAN will not be considered for additional payouts.
- The participation in the Program is voluntary and by participating in the Program, you are deemed to have read, understood and accepted these Terms and Conditions.
- Customer will not be eligible for credit of ₹250, if the payee changes the mobile number within 30 days of successful Aadhaar authentication. Your Friend/s will not be eligible for cashback of ₹250, if your Friend changes the mobile number within 30 days of successful Aadhaar authentication.
- DBS reserves the right to and may, at any time, without previous notice and from time to time, modify/withdraw/suspend this Program, with or without any reason.
- This Program will be governed by the laws of India and subject to courts in Mumbai.