Program – digiSavings customers (“Customers”) can earn Rs.250 for each eligible ‘Mobile Transfer’ to their friends and families (“Friend/s”) who do not bank with digibank and their friend spending INR 2000 within 45 days of opening digiSavings account.
All Friends of such Customers will be eligible for a cashback of Rs.250/- on transacting minimum of Rs.2000 /- or more with their physical digibank Debit Card within first 45 days of converting to digiSavings.
Program Period – 15th July 2018 to 31st March 2019 (both days inclusive).
"Eligible Mobile Transfer" means (a) fund transfer by Customer using ‘Mobile Transfer’ option in digibank app to newly added Payees and (b) opening of account by the newly added Payee by clicking on the SMS linked to the aforesaid ‘Mobile Transfer’ during the Program Period and (c) the Payee spending INR 2000 using physical digibank debit card within 45 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 Rs. 2000/- or more using physical digibank debit card on POS/e-POS, in single or multiple transactions, within 45 days of opening the account, to avail the cashback offer.
Excluded Transactions for Rs.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 Rs.250/- credit - Customers will be required to make a mobile transfer of Re. 1/- or more using "TRANSFER TO" option and then transfer using mobile number of newly added Payee during the Program Period. Customer’s Friend/s should have opened account within 15 days of Mobile Transfer and performed minimum transaction of INR 2,000 using physical digibank debit card.
For Rs.250/- cashback - Friends need to open account within 15 days of receiving the Mobile Transfer funds and spend Rs. 2000/- or more using physical digibank debit card in single or multiple transactions within 45 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.
DBS Bank Ltd. 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 Ltd., 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 Ltd. 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 Ltd., it associates, subsidiaries and affiliates for any losses or claims that may be occasioned upon DBS Bank Ltd., 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 Ltd. 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 Rs.250/- for eligible Mobile Transfer. If the Customer does not desire to disclose this information, he/she should not participate in this Program.
Rs.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 the your Friend spending INR 2000 using physical digibank debit card within 45 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 Ltd.
Cashback of Rs. 250/- will be credited in the account of the eligible Friend/s within 15 working days from the date of completion of Rs.2000/- 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 Ltd. 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 INR 250, if the payee changes the mobile number within 45 days of successful Aadhaar authentication. Your Friend/s will not be eligible for cashback of INR 250, if your Friend changes the mobile number within 45 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.