Terms and Conditions
Terms and Conditions
These Terms and Conditions are divided into multiple sections. You can find these Terms and Conditions on our website https://www.dbs.com/digibank/in/terms-and-conditions.html.
Please read these Terms and Conditions carefully before accepting.
By clicking and accepting the Terms and Conditions you agree that you have read, understood, acknowledged and accepted these Terms and Conditions, Tariff of Schedule to access and use the digibank app and digibank product and Services.
These Terms and Conditions govern the access and use of the digibank app and digibank Services. Other Terms and Conditions may be applicable to certain specific products, services, offers or contests made available on the digibank app by DBS either directly or through third party sites. If there is any conflict or inconsistency between these Terms and Conditions and other specific Terms and Conditions, then those specific terms will prevail to the extent of such offers, products and services.
1. Definitions and Interpretations
1.1 Definitions and Terminologies
The following words and phrases have the meaning set out below unless the context indicates otherwise:
Account: means and includes digibank e-wallet or digibank e-wallet Account or digiSavings or Term Deposit as may be created from time to time or as the case may be.
Affiliate: means in relation to any person, any entity controlled, directly or indirectly, by the person, any entity that controls, directly or indirectly, the person or any entity directly or indirectly under common control with the person. For this purpose, "control" of any entity or person means ownership of a majority of the voting power of the entity or person.
Alert/Electronic Advice: means and includes in-app notification and/or SMS/email notification sent to you on your registered mobile number/digibank app/your registered email address.
Billing Organisations: means any Third Party billing organisation/s registered with digibank/our partner organisations to which payments can be made using your Account.
Branch: means the branch of digibank which is linked to the digiSavings.
Cellular Service Provider hereafter referred to as "CSP": refers to the GSM/GPRS/EDGE/WI-FI Service provider (for operation of Mobile Phones/Devices etc).
Channel: means and includes any platform used or which may be used for accessing digibank Services.
Content: means and includes any information, images, links, sounds, graphics, video, software or other materials, including quotes, news and research data, made available through the digibank app.
Debit Card: means a virtual debit card in the case of digibank e-wallet or digiSavings account opened using OTP based eKYC process and a physical Visa International Debit Card in the case of digiSavings opened using biometric verification and includes any replacement or renewed card issued by us to you at your request or otherwise.
digibank, DBS, DBS Bank, Our, We and Us: means DBS Bank India Limited and its successors and assigns.
digibank app: means an application for a Mobile Device that can be downloaded by you from a designated location or application store.
digibank Services: means all banking services, transactions, offers and other value added services as may be made available from time to time, carried out or availed by you through digibank app and/or the Website.
digibank e-wallet or digibank e-wallet Service: means a product offered by digibank through the digibank app which is a semi closed prepaid payment instrument (non-interest bearing) that may be used by you as a wallet.
Term Deposit: means and includes the fixed term deposit account and/or the recurring term deposit account.
Bill Payment: means a service provided through the digibank app for making payment from your Account to Billing Organisations.
NACH: means National Automated Clearing House funds clearing platform which facilitates interbank high volume, low value debit/credit transactions, which are repetitive in nature, electronically using the NPCI service and ‘NACH debit’ means mandate based debit service.
digiSavings: means a savings account opened or to be opened using the digibank app.
EDC: means "Electronic Data Capture". EDC machine is used to facilitate debit/credit card payments.
Electronic Instructions: means any communication, instruction, order, message, data, information or other materials received by us through the digibank app using Security Codes.
Electronic Statement/e-Statement: means a consolidated statement of accounts as per Bank's record for each Account available on the digibank app.
Group: means and includes DBS Group Holdings Ltd and its subsidiaries, direct or indirect.
GST: means taxes including any goods and services tax, or other tax that may replace it or be levied in addition to it, by whatever name called.
Mobile Phone/Device: means the handset with requisite accessories, equipment attachments and other software which maybe owned/possessed by you and/ CSP.
mVisa/Bharat QR: means mobile based payment facility enabling customers holding VISA/Bharat QR debit card to make merchant payments in India by scanning the Quick Response (QR) code and mvisa/Bharat QR merchant shall mean merchants accepting payment using mVisa/Bharat QR.
Notification: means an electronic alert sent to you on your registered mobile number/digibank app/your registered email address.
Password: means the unique six (6) digit sequence of alphabets and/or characters used to log in to the digibank app.
Personal Information: refers to the personal information provided by you to the Bank.
Point of Sale Transaction(s): means any payment initiated at a cash register or other payment interface that utilises either the chip or magnetic stripe of a physical Debit Card.
Providers: means and indicates any person or entity with whom DBS has a partnership for rendering digibank Services either directly through the digibank app or through third party sites or applications.
RBI: means the Reserve Bank of India.
Security Codes: means and includes Password, personal or log-on identification numbers, One-Time-Pin (OTP) and other codes and access procedures including short messaging service (SMS) for use in connection with access to and use of digibank Services extended by us from time to time.
Security Devices: means any smartcards, tokens, electronic devices, hardware or any other equipment given by us to you from time to time in order to enable you to access and/or use digibank Services.
Software Token ID or Soft Token ID: means computer generated unique device code which is assigned to the Mobile Phone/Device of each Customer.
Third Party Provider/Third Party: means and indicates any person or entity with whom DBS has a partnership for rendering digibank Services either directly through the digibank app or through third party sites or applications.
Transaction: means any transaction or operation made or performed, processed or effected through digibank Services by you or any person purporting to be you, or any person purportedly acting on your behalf, with or without your consent, including:
- Any payment or fund transfer from the Account; and
- Any administrative function including without limitation the request for issuance of new Security
- Any other banking transaction that may be made available through digibank from time to time (including making bill payments); and
- Any banking transaction carried out through any DBS branch.
Transaction History: indicates details of all the Transactions entered into or performed using the digibank app and includes Transactions carried out in any DBS branch.
UPI Terms: means terms and conditions specified in Section 6 of these Terms and Conditions.
User ID: means an identification through which you can access the digibank app and the products and services offered by digibank.
Virtual Debit Card: is a digital debit card issued if you hold digibank e-wallet or a digiSavings account opened using OTP-based eKYC process. It can be used to make purchases on the internet at online merchants but cannot be used for making ATM withdrawals.
VISA Tap to Pay: refers to the facility that allows you to execute debit card transactions either by tapping or waving your Card against Visa Tap to Pay readers installed at merchant locations without requiring any signature, PIN or other authentication on your part.
Website: refers to the website owned, established and maintained by digibank located at www.dbs.com/digibank/in.
In these Terms and Conditions, unless the contrary intention appears:
- "You" and "your" or "Customer" mean the customer. "We", "our" and "us" refers to DBS Bank India Limited and its successors and assigns or to any "Affiliate" if any services are being provided by an Affiliate under these Terms and Conditions.
Any reference to:
- An "amendment" includes a supplement, modification, novation, replacement or re-enactment and "amended" is to be construed accordingly.
- An "authorisation" or "approval" includes an authorisation, consent, clearance, approval, permission, resolution, license, exemption, filing and registration.
- "Law" includes any constitution, statute, law, rule, regulation, notification, ordinance, judgment, order, decree, authorisation, or any published directive, guideline, requirement or governmental restriction having the force of law, or any determination by, or interpretation of any of the foregoing by, any judicial authority, whether in effect as of the date of registration or thereafter and each as amended from time to time.
A user (individually a "User" and collectively, "Users").
Singular includes the plural (and vice versa).
Headings in these Terms are inserted for convenience of reference only and are to be ignored in construing and interpreting the Terms.
Reference to the words "include" or "including" will be construed without limitation.
Reference to a gender will include references to the female, male and neuter genders.
2. Terms and Conditions Applicable Only to digibank e-wallet
This section is applicable only to digibank e-wallet.
2.1 Eligibility for digibank e-wallet
- You are not an existing account holder of DBS.
- You are an Indian citizen and Indian resident.
- You are over 18 years of age with capacity to contract in accordance with the applicable laws in India.
- You have a valid and active local mobile number registered in your name, a smart phone, and a valid and active email address of your own.
- You have downloaded the digibank app on your Mobile Phone/Device.
- You acknowledge that DBS reserves the right to reject your request for digibank e-wallet without assigning any reason.
- You acknowledge that only one Account can be opened from one Mobile Phone/Device.
2.2 Features of digibank e-wallet
- Single Operations: An individual who fulfils the eligibility criteria mentioned above can open and operate digibank e-wallet in his/her own name. Joint account or joint mandate for operation of digibank e-wallet is not permitted.
- Only One Account per Individual: Each eligible individual can only open one digibank e-wallet Account.
- Technology Dependent: digibank e-wallet for selected content is handset/operating system dependent. This Service is currently available on iPhone with iOS 11 and above Android Phones with Android version 5.0 and above. There will be no obligation on the Bank to support all versions of Mobile Phone software.
- Cash Withdrawal: Cash withdrawal with the digibank e-wallet Service is not permitted.
- Cash Deposit: Cash deposit into your digibank e-wallet Account is not permitted.
- Credit Card: Funding your digibank e-wallet Account using credit cards is not permitted.
- Point of Sale: Point of Sale Transactions are not permitted using the digibank e-wallet Service.
- mVisa/Bharat QR: Payments to mVisa/Bharat QR merchants using mVisa/Bharat QR facility available on your digibank app.
- Transactions: Only Electronic Instructions can be provided. No cross border transactions i.e. no incoming and outgoing foreign exchange transactions are permitted through the digibank app. The virtual Debit Card linked to your digibank e-wallet Account can only be used to make payments on websites in India.
- Initial Funding: By opening a digibank e-wallet Account, you will have access to a semi closed prepaid payment instrument. The initial funds transferred into the digibank e-wallet Account will be from your existing bank account. Initial funding by a third party or by using a third party bank account is not permitted. You will be responsible for adherence to this requirement failing which DBS will have the right to close your account. The funds may be transferred using such modes as may be available from time to time.
- digibank e-wallet will be valid for a period of 24 months from the date of opening the wallet. After the 24 month period, a credit freeze will be applied and no further loading of funds will be permitted into the wallet. Utilization of available funds will be permitted even after the 24 month period.
2.3 Applicable Limits
The following limits will apply with respect to digibank e-wallet:
- The maximum balance amount that your digibank e-wallet Account can contain at any given point in time is Rs. 10,000/- ("Maximum Value"). At no point in time can the digibank e-wallet Account balance exceed the Maximum Value except as mentioned in (d.) below.
- The total cumulative value of funds credited in digibank e-wallet in one calendar month will not exceed Rs. 10,000/- ("Maximum Monthly Transfer").
- The total cumulative value of funds credited in digibank e-wallet in one financial year will not exceed Rs. 1,00,000/-.
- In the event of any funds received in the digibank e-wallet Account pushes the balance to exceed the Maximum Value and/or Maximum Monthly Transfer, the funds will be rejected and its full amount will be returned to its source. In the event that the source account or channel is not available then DBS will have the right to retain the amount and it will be applied in accordance with the applicable regulations and the Bank's internal policies.
- In the case of a refunds that are the result of failed, returned, rejected and/or cancelled Transactions, the funds returned may be credited into the digibank e-wallet Account even if such credit of funds results in exceeding the Maximum Value and/or Maximum Monthly Transfer.
- Not more than five (5) recharge transactions per day are allowed.
- The following transaction limits will apply to transactions on the digibank e-wallet Account and is subject to change from time to time:
- Rs. 10,000 per bill payment transaction
- Rs. 5,000 per recharge transaction
- Rs. 10,000 per merchant payment transaction through net banking or using virtual Debit Card on Third Party websites
- Maximum value of all outgoing transactions in a day is Rs. 10,000
- Maximum value of all outgoing transactions in a month is Rs. 10,000
- Incoming transactions subject to Maximum Value and Maximum Monthly Transfer limits.
2.4 Loading funds into digibank e-wallet
|Transaction limits For digibank e-wallet|
|Maximum daily amount limit||10000|
|Maximum monthly amount limit||10000|
|Maximum yearly amount limit*||100000|
2.5 Payment using digibank e-wallet
2.5.1 You may use the digibank e-wallet Service to:
- Make payments at merchant websites in India by choosing the netbanking option or by using the virtual Debit Card.
- Make bill payments and recharges through the digibank app.
- Top up/fund your digibank e-wallet Account using available modes.
- Total number of permissible debit transactions per day in your digibank e-wallet is 25. Following transactions shall be excluded from the aforesaid limit:
- standing instructions
- recurring payments
- future dated transactions (will be considered on the payment date)
- Generate an e-statement for your transaction history by raising a request in app. Statement will be sent your registered email ID within 3 working days.
2.5.2 You cannot use digibank e-wallet Service:
- To transfer funds from digibank e-wallet Account to any other prepaid payment instrument issued in India or any other bank account.
2.6 Credit freeze of digibank e-wallet
Under the following scenarios, digibank e-wallet will be placed under a credit freeze:
- Upon reaching the validity period of 24 months after date of opening the digibank e-wallet
- In case an officially valid document is not provided till Feb 28 2018 by existing wallet holders
2.7 Loss of Mobile Phone/Device
If you lose the Mobile Phone/Device on which you had installed the digibank app, you will need to reinstall the digibank app on your new Mobile Phone/Device and login to the digibank app with your existing login credentials. The new Mobile Phone/Device will be re-provisioned with Soft Token ID.
If you suspect that your virtual Debit Card has been compromised, you have to advise DBS to hotlist the virtual Debit Card by calling 18602103456 . We don’t allow reissuance of virtual Debit Card.
2.8 Suspension/Closure/Conversion/Termination by the Bank
We may suspend or terminate the digibank e-wallet Service and your use of the digibank app with or without prior notice to you due to various reasons including:
- Non operation of digibank e-wallet for such period as may be decided by the Bank as per its internal policy.
- Non conversion of digibank e-wallet to digiSavings within a minimum period of 3 months, or such other extended period decided by the Bank, from the date of opening your digibank e-wallet Account.
- Death and incapacity and incompetency of the Customer.
- More than one digibank e-wallet Account has been opened by you.
- Providing false or incorrect information.
- Suspicious transactions while using digibank e-wallet or the virtual Debit Card.
- Due to any other legal or regulatory requirements.
- If you are an existing customer of DBS India.
- If you have changed your email address.
Where we have not given prior notice, we will as soon as is practicable give notice to you of such termination by such notification methods as we may choose, including through our Website or by giving notification through the digibank app or via publication through any media. Such termination will be effective on and from the date specified in the notice.
If DBS decides to terminate the provision of the digibank e-wallet Service, DBS will notify you and transfer the remaining balance from your digibank e-wallet Account in accordance with the existing process and policy of DBS and the extant guidelines issued by RBI and upon the balance in your digibank e-wallet Account becoming zero DBS will close your digibank e-wallet Account.
- At our discretion, we may provide you an option to convert or upgrade digibank e-wallet to other co-branded wallets of the Bank before suspending/terminating digibank e-wallet. In case you opt to convert, within the time limit prescribed by the Bank, we will transfer the remaining balance from your digibank e-wallet to the co-branded wallet.
- In case you do not opt to convert or upgrade digibank e-wallet within the time limit prescribed by the Bank, the Bank will notify you and transfer the remaining balance from your digibank e-wallet Account in accordance with the existing process and policy of DBS and the extant guidelines issued by RBI and upon the balance in your digibank e-wallet Account becoming zero DBS will close your digibank e-wallet Account.
- If you choose to upgrade your digibank e-wallet Account to a digiSavings using OTP based eKYC process, then your Virtual Debit Card linked to digibank e-wallet will cease to exist and you will be issued a new Virtual Debit Card. This is a one-time, non-reversible conversion.
- If you upgrade to a digiSavings using biometric authentication, then your Virtual Debit Card will cease to exist, and a physical Visa International Debit Card will be issued to you. This is a one-time, non-reversible conversion.
2.9 Procedure in case of Death or Incompetence
If we are notified of death or incompetence of a Customer or of a restriction being placed on the Customer, DBS will suspend the digibank e-wallet Service and stop all operations of digibank e-wallet for that Customer. Any balance remaining in the Customer's digibank e-wallet Account will be forfeited and will be dealt with at the absolute discretion of DBS Bank, subject to applicable regulations. DBS Bank will not be obliged to enter into any correspondence regarding the same. You agree that you, your legal heirs and administrators (as the case may be) will not hold DBS liable for any loss, damage or expenses arising out of or in connection with the remaining balance in your digibank e-wallet Account.
DBS Bank's right to suspend or terminate your access to and use of the digibank app and the digibank e-wallet Service will be without prejudice to any other rights or remedies which DBS may have under these Terms or any other applicable terms set out by law.
2.10 Termination by the Customer
Will you decide to terminate your use of the digibank e-wallet Service:
- You will place an account closure request from the digibank app and follow the instructions for closure. Prior to submission of the closure request, the balance in the account has to be transferred out and made zero.
- You understand that deletion of the digibank app alone does not terminate the use of or close the digibank e-wallet Service. If you delete the digibank app without providing the necessary instructions to DBS as mentioned above, the remaining balance will continue to remain in your digibank e-wallet Account for such period as may be applicable as per the policy of the Bank. Upon expiry of such period if the digibank e-wallet Account remains non-operational, the amount lying in the same will be forfeited as per the policy of the Bank or per RBI guidelines.
- You will not be entitled to any payment, compensation or damages from DBS in relation to the termination of your access to and use of the digibank app and/or the digibank e-wallet Service.
- You will have to close your digibank e-wallet Service in case of change of your email address. Once the digibank e-wallet is closed no amount by way of refund or otherwise will be credited into the digibank e-wallet Account or in any other account within DBS or outside DBS.
3. Terms and Conditions Applicable Only to digiSavings
This section is only applicable to digiSavings.
You understand and accept that your operation of digiSavings Account opened using OTP based e-KYC authentication process has certain limitations as mentioned in these Terms and Conditions (e.g. maximum balance, transaction limits, Virtual Debit Card etc.) and it cannot continue for more than one year. You understand and accept that DBS Bank will close your Account opened using OTP based e-KYC process after one year in case you have not completed biometric authentication in line with RBI guidelines.
3.2 Eligibility for digiSavings Opening
- You are an Indian citizen and Indian resident.
- You are a tax resident of India only, and of no other country.
- You are desirous of receiving Direct Benefit Transfer (DBT) subsidies in your digibank account directly.
- You have a valid Aadhaar number.
- You have a valid (personal) Permanent Account Number.
- You will have successfully completed e-KYC through OTP sent to your mobile number registered with UIDAI or biometric authentication through business facilitators and have complied with all other requirements including KYC requirements as may be specified by us for digiSavings. If you have completed e-KYC through OTP authentication, you hereby acknowledge that you have not opened any account with another bank in India using OTP based e-KYC authentication.
- digiSavings can be opened for the sole purpose of savings and not for the purpose of business/trading/professional/profit making activity.
- You acknowledge that only one Account can be opened from one Mobile Phone/Device.
3.3 Features of the Account
Debit Card: You will receive a Virtual Debit Card if you open a digiSavings Account opened through OTP-based e-KYC authentication process. If you have completed your biometric authentication, you will be issued a physical Visa International Debit Card, and any Virtual Debit Card you held earlier will cease to exist. However, if you had a physical Visa International Debit card earlier, it will continue as is.
Single Operations: An individual who fulfils the eligibility criteria mentioned above can open and operate digiSavings on his/her own. Joint account or joint mandate for operation of digiSavings is not permitted.
Cheque Book: No Cheque Book will be provided.
Passbook/e statement: Passbooks are available only at DBS branches and will be provided only after completion of the customer identification process. E- statements can only be accessed using the digibank app.
TDS (Tax Deducted at Source) Certificate: TDS Certificates will be sent by courier/post to your current address as confirmed by you and recorded as the address on your Account.
Nomination Facility: The Nomination Facility is available within the digibank app.
Tax Declaration: Form 15G/H will not be available in the digibank app. However, these forms may be downloaded from the Website. You may have to visit nearest DBS branch to submit the same along with your original Aadhaar and PAN documents and fulfil customer identification process.
Technology Dependency: digiSavings for selected content is handset/operating system dependent. This service is currently available on iPhone with iOS 11 and above and Android Phones with Android version 5.0 and above. There will be no obligation on the Bank to support all the versions of the Mobile Phone software.
Cash Withdrawal: Cash withdrawals exceeding the ATM limit will be permitted at the Branch on an exceptional basis up to Rs. 50,000/- subject to the verification of your Aadhaar Card and PAN Card and subject to you fulfilling the customer identification process at that branch. The limits of Rs. 50,000 may be revised by the Bank at its discretion.
Transactions: Only Electronic Instructions will be provided except for transactions which are permitted at the Branch. No outgoing cross border foreign exchange transactions are permitted through the digibank app unless such transactions are carried out using the physical Visa International Debit Card. Transactions through the Debit Card are not permitted in Nepal and Bhutan.
Funds Transfer: Funds transfers exceeding the digibank app incoming or outgoing transaction limits will be permitted at a Branch as an exception, subject to the verification of your Aadhaar and PAN and to you fulfilling the customer identification process at that Branch.
NACH debit: NACH debit facility is available for the customers.
E-Welcome Kit: The E-welcome kit will be sent to the customer's registered email address given during the opening of digibank e-wallet and will consist of these Terms and Conditions, the tariff sheet and other relevant information.
Credit Card bill payment: Credit card payment facility will be processed through NEFT after you add your credit card details in the digibank app. We request you to make the payment at least three (3) working days prior to the due date to avoid late payment charges from the credit card issuing entity.
3.4 Loading funds into digiSavings account
|Transaction limits for adding funds in digiSavings Accounts opened using biometric authentication|
|Minimum Per txn. amount||1|
|Maximum Per txn. Amount||1,00,000|
|Maximum daily amount limit||10,00,000|
|Maximum monthly amount limit||50,00,000|
|Daily maximum no. of txn.||10|
|Monthly maximum no. of txn.||50|
|Transaction limits for adding funds in digiSavings Accounts using OTP based e-KYC|
|Minimum Per txn. amount||1|
|Maximum Per txn. Amount||1,00,000|
|Maximum daily amount limit||2,00,000|
|Maximum monthly amount limit||2,00,000|
|Daily maximum no. of txn.||10|
|Monthly maximum no. of txn.||50|
3.5 Account Opening
digiSavings may be opened by an individual by upgrading his/her digibank e-wallet Account on the digibank app subject to the individual complying with the aforesaid eligibility criteria and KYC (including e-KYC) guidelines issued by RBI/IBA from time to time and as per the specifications of the Bank.
3.6 Consent for OTP and biometric authentication
You confirm that you have authorised Unique Identification Authority of India (UIDAI) to share your details with DBS.
You hereby state that you have no objection in authenticating yourself with Aadhaar based authentication system and consent to providing your Aadhaar number, biometric and/or one-time pin (OTP) data for Aadhaar based authentication for the purposes of using digibank Services from DBS.
You understand that the biometrics and/or OTP you provide for authentication will be used for authenticating your identity through the Aadhaar Authentication system for the purpose of using digibank Services.
You understand that DBS will ensure security and confidentiality of your personal identity data provided for the purpose of Aadhaar based authentication.
In case your name as reflected in Aadhaar is different from that as reflected on your PAN Card, the details as per Aadhaar will be taken on record. Any changes to your demographic details (as available on your Aadhaar Card) need to be made through UIDAI only.
3.7 Withdrawal and Interest
Withdrawal: Withdrawals from digiSavings can be made to the extent of clear balances. digiSavings will not be overdrawn. No withdrawals by way of Debit Card, Electronic Instructions or any other manner will be issued in anticipation of realisation of any other instrument or against unclear effects, the Bank is not obliged to honour such debit instructions.
Interest: Rate of interest on digiSavings is subject to change from time to time at the discretion of the Bank and/or in accordance with directives from RBI. Interest will be calculated on the daily available balance or as directed by RBI. Interest will be paid at quarterly rests or on any other rests as the Bank may decide from time to time.
Minimum Balance: You may be required to maintain minimum balance as may be decided by the Bank from time to time. The Bank reserves the right to close your account in case of irregular/improper conduct or suspected irregular/improper conduct of the Account, including non-maintenance of stipulated minimum balances, etc.
Maximum Balance: In the event that your digiSavings Account is opened using OTP based e-KYC process, the maximum balance permissible in your Account (including Term Deposits) at a given point in time shall be INR 1 lakh. Any amount received on account of interest, transaction reversals, cashback or other such credit will be included in the balance. In case the balance breaches the limit of INR 1 lakh on account of such transactions, there will be a lien placed on balance in excess of INR 1 lakh. Such excess balance amount will be available for use by you only when the Account balance is within the permissible limit of INR 1 lakh.
Transaction Limits: The following transaction limits will apply to transactions on the digiSavings and is subject to change from time to time. In case the Customer breaches the applicable transaction limits, Customer will not be permitted to transact till the next day or month as applicable. In case of a breach in the credit limit given below on account of interest, transaction reversals, cashback or other such credit/s, there will be a lien placed on the excess amount till the start of the next financial year subject to your Account meeting the applicable balance requirements.
|Transaction Limits||Digisavings account opened using OTP based e-KYC process||Digisavings account opened using biometric authentication|
|Maximum value limit of all outgoing transactions per day |
|Maximum value limit of all outgoing transactions per month |
|Maximum per transaction limit for recharges||Rs.15,000||Rs.15,000|
|Number of recharge transactions allowed per day||5||5|
|Maximum credit in the account in a financial year||Rs.2,00,000||No limit|
Total number of permissible debit transactions per day in your digiSavings is 25. Following transactions shall be excluded from the aforesaid limit:
- standing instructions
- recurring payments
- future dated transactions (will be considered on the payment date)
3.8 Term Deposit
In these Terms and Conditions for Term Deposit “You” and “Your” mean the customer. “We”, “our” and “us” refers to DBS Bank India Limited (“DBS”) and its successors, assigns and/or any Affiliate.
In these Terms and Conditions for Term Deposit, “Account” means and includes digiSavings and any other savings account held with DBS.
Term and Interest: You can create a Term Deposit only if you have an active Account with us. In case of recurring deposit, instalments will be paid regularly on or before the agreed date and no instalments will be in arrears during any month. If no date is agreed, the last date of the month will be considered as the date of payment. In case of default(s) in the payment of periodic instalment under the Recurring Deposit Scheme, we will pay the interest on the recurring deposit as per contracted rate. DBS reserves the right to change the rates as and when decided.
Details about various periods, current rates of interest and minimum deposits are available on the website and on the digibank app / iBanking. Minimum tenure allowed for booking a Term Deposit via digibank app / iBanking is 90 days. Term Deposits for tenures less than 90 days can be booked at any of our DBS branches by submitting relevant application form. Rate of interest is subject to DBS’ discretion (subject to the directives / guidelines that may be issued by RBI) from time to time. DBS reserves the right to offer differential rates over a prescribed value as decided from time to time by DBS and in accordance with RBI guidelines. Interest will be paid on a compounding basis for term deposits with tenure of one quarter or more.
Term Deposit Confirmation: DBS Bank will issue a "Term Deposit Confirmation Advice" for Term Deposit(s) and the same can be downloaded from the digibank app / iBanking. The Term Deposit Confirmation is only for the purpose of confirming to You the fact of his/her successful Term Deposit placement with DBS and will not be treated as a receipt. In the event of a partial withdrawal of the Term Deposit/s, a new Term Deposit Confirmation Advice will be made available for download within the digibank app / iBanking for the reduced deposit amount. As soon as this new Term Deposit Confirmation Advice is issued to you, the earlier or the old deposit confirmation will be treated as cancelled, without any further act or communication on the part of DBS. Term Deposit(s) are not transferable and are payable on maturity.
Renewal: Term Deposits with a reinvestment option will be renewed with interest upon deposit maturity. Term Deposit with an interest pay-out option will be renewed only with principal upon deposit maturity. Interest on Term Deposit will be credited as per the instructions given by you and agreed to by us. The renewal will be in accordance with the provision of the relevant RBI scheme/guidelines in force at the time of renewal.
Premature Closure: DBS allows withdrawal of Term Deposit prior to the date of its maturity. The interest on prematurely withdrawn Term Deposit will be paid for the period that such Term Deposit is held, at the rate prevailing on the contracted rate, whichever is lower, subject to a deduction of a 1% penalty. This penalty in not applicable in cases where premature withdrawal of Term Deposit is because of Your death. Any recovery of interest already paid shall be adjusted from the proceeds of such term Deposit.
Tax is deductible by DBS if the total interest earnings of all your resident Term Deposits during the financial period of 1 April to 31 March are in excess of the applicable threshold amount prescribed by the Government of India. The deduction of tax is on a payment basis, except as at 31 March when it is on an accrual basis. The rate at which the tax will be deducted will be as per the applicable/governing laws. Once the tax has been deducted by DBS, it will not be refunded, and obtaining the requisite refunds on account of tax deducted at source will be solely your liability and responsibility.
Maturity proceeds from Term Deposits will be credited as per the instructions given by you and agreed to by us.
In the event of the Your death , premature termination of Term Deposit will be allowed subject to the following conditions:
- Compliance of applicable Reserve Bank of India guidelines.
- The threshold amount eligible for such requests will be as per the policy of DBS applicable at the time of premature termination.
- DBS will entertain requests only if it is satisfied with the eligibility of the claimant's/nominee(s) as per the criteria set by RBI.
3.9 Transactions at the Branch
The transactions mentioned below can be carried out only if the customer visits the branch and the request is placed at the Branch subject to you providing your Aadhaar Card and PAN Card (and any other documents as deemed necessary by the Bank) for verification and subject to you completing the customer identification process applicable from time to time. The Bank reserves the right to reject any such transaction if the customer identification process is not completed to the satisfaction of the Bank.
- Cash Deposit facility
- Cash withdrawal over the counter upto Rs. 50,000 (over ATM Limits)
- Issuance of Drafts/Cashier's Order in local currency
- NEFT/RTGS transfer upto Rs. 500,000 subject to digibank app limits in the digiSavings
- Pass book issuance
- Submission of Form 15G/H
- Submission of Name Change, Duplicate Statement, Balance Confirmation, TDS and Interest Certificate
- Death Claim
In addition to the modes available to the Customer in the digibank app, the Customer can report fraud/complaints/and provide compliments by visiting any DBS branch.
Issuance of Demand drafts: We reserve the right to select the agent/correspondent bank to draw demand drafts upon. Encashment of the said draft is subject to the rules and regulations of the country where the encashment is to be made. Neither DBS Bank nor its correspondents or agents will be liable for any loss or delay caused by any such rules and regulations. If a refund of the draft amount is desired from DBS Bank by you, DBS Bank will, at its discretion, make the payment to you at the prevailing rate for the relevant currency less all charges and expenses. If a draft applied for is lost, stolen, or destroyed, you may request for a replacement draft or a refund. You and the beneficiary of the draft must first provide DBS Bank with a letter of indemnity and such other documents as DBS Bank will prescribe from time to time in this regard to protect DBS Bank against liability with respect to the lost, stolen or destroyed draft. All charges/commissions outside India are to the beneficiary's account, unless specified. DBS Bank reserves the right to revise the charges from time to time with prior notice.
3.10 Fees and Charges for Transactions at the Branch
Transactions at the Branch: All transactions which are permitted and are carried out at the Branch will incur applicable charges unless otherwise set out in these Terms and Conditions.
Debit Card issuance charges: The Bank reserves the right at any time to charge you for the issuance or reissuance of a physical Debit Card. For details on the same, please refer to the "Rates and Fees" page on the Website.
3.11 Right to Withhold Payments
Any sum that may be payable by us to you will be subject to all applicable laws, including any withholding tax requirement, foreign exchange restriction or control. You agree and acknowledge that pursuant to the foregoing, we may perform, or cause to be performed withholding of any monies payable to you, deposit any such monies into a sundry or other account and/or retain such monies pending determination of the applicability of such withholding tax requirement, foreign exchange restriction or control. DBS Bank will not be liable for any losses that may be incurred by reason of such withholding, retention or deposit.
3.12 Cheque/Cash deposits
All cheques/cash deposits and credits to digiSavings will be subject to verification/realisation by DBS Bank.
3.13 Statements of Account
A monthly Electronic Statement will be available on the digibank app as per the Bank's record. The Electronic Statement will be available for download on a frequency as determined by the Bank. Unless disputed by you within 14 (fourteen) days of the Electronic Statement being made available for download, the same will be deemed to be correct. DBS Bank reserves the right to rectify discrepancies, if any, at any point in time. If you delay in examining the Electronic Statement or in reporting a discrepancy or problem, it may affect our ability to rectify the discrepancy or resolve the problem, and you will be liable for the losses that may occur. You further confirm/declare that any lapse, omission, or negligence on your part to notify us about any such doubtful debit/withdrawal in time, will not render us liable for any consequences resulting therefrom. You authorise us to engage and utilise the services of Third Parties/Vendors for generation of Electronic Statements and/or other documents/material.
In addition, we reserve the right, without prior notice to you, to add and/or alter the entries in the Electronic Statement and transaction advices, deposit advices and records.
Without prejudice to the foregoing, at our discretion, we may, upon your request, allow you to receive an Electronic Advice in respect of Content provided by us from time to time. An Electronic Advice maybe be delivered by email, through Mobile Devices and/or other electronic means subject to the relevant terms and charges of your or any Third Party's network, telecommunication or Mobile Phone service provider(s).
You agree and acknowledge that an Electronic Advice may be delayed or prevented by factors affecting the service providers and other relevant entities and we do not guarantee the delivery, time lines or accuracy of the Electronic Advice or Content.
You also acknowledge that Electronic Advice may be subject to certain time lags and/or delays.
We reserve the right to vary the features of any Electronic Advice and to suspend or terminate an Electronic Advice service at any time. We will not be liable to you or anyone else for losses, damages or expenses arising from (a) non-delivery, delayed delivery or wrong delivery of an Electronic Advice; (b) inaccurate or inadequate content; or (c) use or reliance by you or any third party on the contents of an Electronic Advice for any purpose, including investment and business purposes. No warranty of any kind, implied, express or statutory, including but not limited to the warranties of non-infringement of third party rights, title, merchantability, satisfactory quality or fitness for a particular purpose, accuracy, adequacy, currency or reliability is given in respect of the Content. We further do not warrant the security of any information transmitted to you through Electronic Advice. You acknowledge and accept the risk of the Electronic Advice being accessed by unauthorised third parties.
The data or information relating to Accounts provided by us (statements of account etc.) via digibank Services may not be conclusive as to the latest current balance as certain transactions may have been made without the relevant entry being made in time when the data or information was provided. The data or information provided is therefore not binding except where expressly stated. Further, the information provided to you through digibank is not updated continuously but at regular intervals. Consequently, any information supplied through digibank will pertain to the last downloaded Electronic Statement. Monthly statements of account for the last 10 years will be available through the digibank app; however, this duration is subject to discretion of the Bank.
At our discretion, we may, upon your request, allow you to receive specific and timely prompts (collectively, the "Alerts") in respect of certain Content provided by us from time to time. Each Alert may be notified by email, pop-up screen in your browser and/or Mobile Devices subject to the relevant terms and charges of your network or Mobile Phone service provider(s). You agree and acknowledge that an Alert may be delayed or prevented by factors affecting the service providers and other relevant entities and we do not guarantee the delivery, timeliness or accuracy of the Alert. You also acknowledge that the information in respect of any Alert may be subject to certain time lags and/or delays. We reserve the right to vary the features of any Alert and/or to terminate any request for any Alert at any time.
We will not be liable to you or anyone else for losses, damages or expenses arising from
- Non-delivery, delayed delivery or wrong delivery of an Alert;
- Inaccurate or incomplete content of an Alert; or
- Use or reliance by you on the contents of an Alert for any purpose, including investment and business purposes.
3.14 Rights and obligations of the Bank
DBS Bank will execute a payment order/instruction issued and duly authenticated by you, unless:
- The funds available in your digiSavings are not adequate or properly applicable to comply with the payment order/instruction and you have not made any other arrangement to meet the payment obligation.
- The payment instruction is incomplete or it is not issued in the agreed form.
- The payment instruction is attached with notice of any special circumstances.
- DBS Bank has reason to believe that the payment instruction is issued to carry out an unlawful transaction.
- The payment instruction cannot be executed on account of a court order/attachment etc.
- Payment order cannot be executed under RBI NEFT System/RTGS/IMPS/UPI.
- No payment order issued by you will be binding on DBS Bank until DBS Bank has accepted it. DBS Bank will inform you through such modes as may be available as soon as practicable the reasons for non-acceptance of the payment instructions.
- DBS Bank will, upon execution of every payment order executed by it, be entitled to debit your digiSavings, the amount of the funds transferred together with charges payable thereon. In case of an excess payment due to the Bank by you on account of this activity, the Bank reserves the right to adjust the amount against future balance in your digiSavings.
- If the funds transfer is not complete before the end of the timing specified by you, DBS Bank will notify you through such modes as may be available.
- A duly authenticated record of the transaction after completion of the funds transfer will be recorded in the Electronic Statement given to you. Unless disputed by you within 14 (fourteen) days of the Electronic Statement being made available for download, you will not be entitled to dispute the correctness of the execution of the payment order or the amount debited to your digiSavings.
- The Bank can immediately close the digibank e-wallet Account or digiSavings before activation and will not be obligated to provide reason for closure of such accounts if found that the information provided by the Customer was incorrect or not meeting DBS KYC policies during digibank e-wallet opening or upgrading to digiSavings. An email will be sent to customer advising him to visit the nearest branch to collect the credit balance available in the Account.
- Change in Mobile Number: The Customer has to advise us of any change in your mobile number. The new number will be registered after necessary verification in accordance with the Bank's process and policies.
- Loss of Mobile: In case of loss of mobile, the Customer can download the digibank app on the new handset and access digibank e-wallet or digiSavings Services.
3.15 Foreign Exchange Transactions
Foreign exchange transactions and exchange rates: No transactions conducted in the Account using the digibank app involving foreign exchange, including foreign remittance from the Account, will be permitted. Foreign exchange transactions using physical Debit Card are permitted in accordance with the applicable laws in force in India. The rate of conversion of foreign exchange for transactions through a physical Debit Card will be as per the market conditions, which will further be subject to the Bank's final determination and decision and such charges and fees as may be prescribed by the Bank from time to time.
Foreign inward and remittance certificate: No foreign inward remittance is allowed in digiSavings Account opened using OTP based e-KYC process. You undertake to provide such information / documents as may be requested by the Bank in case of foreign inward remittance credited in your digiSavings account opened using biometric authentication.
3.16 Foreign Account Tax Compliance Act (FATCA)
FATCA for compliance with tax requirements:
3.16.1 Disclosure of information
You authorise us to disclose any personal and account information ("Personal Information"), where such disclosure is required by any applicable laws (including applicable laws imposing any reporting and/or withholding obligations on us such as the United States Foreign Account Tax Compliance Act as may be amended, superseded or replaced), to:
- Any of our branches, representative offices, related companies, subsidiaries, or any of our other offices, wherever situated.
- Any government, quasi-government, regulatory, fiscal, monetary or other authority, agency body or person, whether in India or elsewhere.
- Any party to whom we are under a duty to disclose or where we in good faith deem it in our interest to make such disclosure.
3.16.2 Notification of change in circumstances
You agree to promptly notify us in writing of any change in your particulars, circumstances, status, including any change in citizenship, residence, tax residency, address(es) on record, telephone, facsimile numbers and email addresses.
3.16.3 Cooperation with enquiries
You agree to cooperate fully in respect of any enquiry that we may make for the purposes of compliance with any applicable law (including the United States Foreign Account Tax Compliance Act, as may be amended, superseded or replaced, and/or any other reporting and/or withholding requirements of any Government) including promptly providing all relevant information, details and/or documents as may be necessary to enable us to comply with the same.
3.16.4 Inconsistent terms
If there is any inconsistency between the terms herein and any other terms governing the relevant product and/or service, the terms herein will prevail insofar as they relate to our compliance with tax, reporting and/or withholding requirements (including but not limited to the United States Foreign Account Tax Compliance Act as may be amended, superseded or replaced).
The Nomination facility is available in the digibank app. You may elect a Nominee of your choice not being a minor through the digibank app itself. You acknowledge that no wet signature will be taken for the purpose of appointing nominee and the online registration will be considered as final and binding. In the event of death of the digiSavings holder the balance in the digiSavings will be handed over to the Nominee as registered with the Bank. The Bank will be discharged from all its liabilities upon handover of the amount to the Nominee. The Nominee will provide documents as may be required by the Bank including for identification and proof of death.
3.18 Account Closure
DBS Bank may at its absolute discretion be entitled to close any Account/s with or without giving 30 days' notice to this effect to you. In case of Account/s opened using OTP based e-KYC process, DBS Bank may close the Account without giving any notice on completion of one (1) year from the date of Account opening in case the Accountholder has not completed biometric authentication in line with RBI guidelines. DBS Bank will not be liable for any consequences arising out of such closure of any digiSavings including but not limited to return of instruments unpaid after the expiry of such notice period.
On closure of the digiSavings, DBS Bank will remit the amount standing to the credit of the digiSavings, if any, by pay order/cheque to your current address recorded with DBS Bank. You may close the digiSavings at any time with notice to DBS Bank. However, DBS Bank will be entitled to refuse the closing of your Account till such time all charges, interest, expenses, dues etc. payable by you to DBS Bank have been paid in full. Notwithstanding the above, the digiSavings may be closed at your request and in case any payment mandate issued by you is presented to us after the closure, you will alone be responsible if the payment mandate is returned or dishonored on account of such closure. You will indemnify and keep us indemnified against any loss or damage that we may suffer on account of closure of your digiSavings such as for charges caused due to return of payment instruments.
Without prejudice to DBS Bank's right to claim from any of your funds/assets/account(s) in DBS Bank's possession or care, you hereby unconditionally, irrevocably and without demur agree and undertake to immediately pay DBS Bank, in such manner as specified, upon the Bank's written demand and without cavil or argument any sum or sums so claimed.
DBS Bank reserves the right to close your Account/s including other associated bank Accounts in your name (e.g. recurring deposits, fixed deposits etc.) with the Bank (a) if you fail to meet the Bank’s due diligence procedures/requirements (b) if you fail to submit requested documents/information (c) if the conduct of the Account is irregular/improper, including but not limited to non-maintenance of stipulated minimum balances, etc.
You may terminate digiSavings Services by placing a request within the digibank app. Termination will not affect any rights or obligations accrued prior to the effective date of termination.
3.20 Death or Incompetence
If the Bank is notified that a Customer dies or is declared incompetent to contract by a Court/competent authority, the Bank may place a hold on the Account and stop all operations when any Customer dies or is declared incompetent or a restriction is placed on the Customer, although the Bank may continue to levy charges/interest on such accounts and claim such amounts as are due to it under any bankers lien or otherwise. In case of death of the Customer, the Bank may retain any and all funds in the Account until it establishes the identity and credentials of the successor to its satisfaction, which may include insisting on a succession certificate/probate of a will.
In the event of the death of the Customer, premature termination of Term Deposit will be allowed subject to the following conditions:
- Guidelines given in RBI circular DBOD. No. Leg.BC.95/09.07.005/2004-05 dated June 09, 2005, will be followed and this will include any amendments thereto.
- The threshold amount eligible for such requests will be as per the policy of the Bank applicable at the time of premature termination.
- The Bank will entertain requests only if it is satisfied with the eligibility of the claimant's/nominees as per the criteria set by RBI.
- In approved cases subject to the conditions stated above, the Bank will not levy any penal charges for premature termination.
3.21 Suspension of digiSavings
Please note that in the following cases the Bank at its discretion will be constrained to suspend digibank app/digiSavings.
- No customer induced debits will be permitted in digiSavings if non-operational continuously for a period of one year unless you approach the Bank and complete verification requirements.
- No customer induced debit and credit will be permitted in digiSavings if digiSavings has been non-operational for a period of two years and above, unless you approach any DBS branch and complete KYC verification requirements defined by the Bank for digiSavings.
- In case of incomplete KYC verification, biometric authentication not being completed as per RBI and the Bank's internal policies or incomplete or incorrect information provided by the Customer.
- If you do not regularly update (preferably every six months) your personal information and confirm the status/KYC verification.
- If there is no customer induced transactions for one year the account will be termed as "Inactive" and for two years "Dormant" and for 10 years "Unclaimed". For Dormant and Unclaimed status accounts customer will have to complete KYC verification as per the Bank's policy for activation of the account.
3.22 Terms and Conditions Governing National Electronic Funds Transfer ("NEFT")/Real Time Gross Settlement ("RTGS")
DBS Bank will provide the NEFT Facility, RTGS and Immediate Payment Service ("IMPS") as a part of DBS Bank's electronic payment services in accordance with the guidelines as stipulated by RBI and subject to the Terms and Conditions specified herein:
3.22.1 Definitions (applicable to this section)
- "Customer" means the applicant/remitter using the NEFT/RTGS service.
- "NEFT Facility" means the Electronic Funds Transfer Facility through RBI NEFT System.
- "RTGS Facility" means the Electronic Funds Transfer Facility through RBI RTGS System. Words or expressions used in this document, but not specifically defined herein will have the respective meanings assigned to them in RBI NEFT Regulations, 2005. The relevant RTGS regulations will be required to be incorporated.
3.22.2 Scope of the Arrangement
- This arrangement will govern every payment order issued by you.
- You understand and agree that nothing in this arrangement will be construed as creating any contractual or other right against RBI or any participant in the NEFT System/RTGS/IMPS other than the Bank.
3.22.3 Your Rights and obligations
- You will be entitled, subject to other Terms and Conditions of this arrangement, to issue payment orders for execution by us.
- Payment orders will be issued by you in the form and manner set out, complete in all particulars. You will be responsible for the accuracy of the particulars given in the payment order issued by you and will be liable to compensate us for any loss arising on account of any error in the payment order.
- You will be bound by any payment instruction executed by us if DBS Bank had executed the payment instruction in good faith and in compliance with security procedures, provided that you will not be bound by any payment instruction executed by us, if it is proved that the same was not issued by you and that it was caused either by negligence or a fraudulent act of any employee of DBS Bank.
- You will ensure availability of funds in your digiSavings properly applicable to the payment order before the execution of the payment order by DBS Bank. However, if we execute the payment order without properly applicable funds being available in your digiSavings, you will be bound to pay us the amount debited to your digiSavings for which an NEFT/RTGS/IMPS was executed by DBS Bank pursuant to its payment order, together with the charges including interest payable to DBS Bank.
- You hereby authorise us to debit your digiSavings any liability incurred by DBS Bank for execution by us of any payment order issued by you.
- You agree that the payment order will become irrevocable when it is executed by us.
- You agree that you will not be entitled to make any claim against any party in RBI NEFT System/RTGS/IMPS except DBS Bank.
- You agree that no special circumstances will be attached to any payment order executed under the NEFT Facility/RTGS Facility.
3.23 Terms governing NACH service
You agree that NACH debit mandate, received by us from the sponsor bank, provided by you to the beneficiary/corporate shall be confirmed by the Bank by calling you on your registered mobile number with us. You agree that the said telephonic conversation will be recorded by the Bank. If the Bank fails to reach you or is unable to receive appropriate confirmation from you due to any reason, the NACH debit mandate setup request shall be rejected. The Bank will notify rejection/acceptance of NACH debit to you. You agree that NACH debit request for more than prescribed limit will be rejected in NPCI system directly by the Bank. You agree that you shall not hold the Bank liable for rejecting NACH debit mandate for any reason. You agree that NACH debit request may be rejected for insufficient funds in the Account.
3.24 Terms governing eNACH service
You agree that eNACH debit mandate, received by us from the sponsor bank, provided by you to the beneficiary/corporate shall be confirmed by the Bank on the basis of your Aadhaar card number linked to your digibank Account with us. If the Aadhaar number does not match with the Aadhaar number in eNACH request received from NPCI/sponsor Bank due to any reason, the eNACH debit mandate setup request shall be rejected. The Bank will notify rejection/acceptance of eNACH debit to you. You agree that eNACH debit request for more than prescribed limit will be rejected in NPCI system directly by the Bank. You agree that you shall not hold the Bank liable for rejecting eNACH debit mandate for any reason. You agree that eNACH debit request may be rejected for insufficient funds in the Account.
3.25 Direct Benefit Transfer (DBT)
- DBT linking for availing subsidy benefits is available only for digiSavings account holders.
- It is the responsibility of the Customer to ensure the correctness of information shared with DBS for linking the digiSavings account for receiving DBT.
- Customer agrees that the linking request will not be fulfilled if the information provided by the Customer for DBT linking is incorrect, insofar as it does not match the NPCI records.
- On a best effort basis DBS will communicate the status of the request to the Customer via their registered mobile number and/or registered email ID within 10 working days from the date of submission of request/account opening, whichever is later.
- If the DBT linking request submitted by the Customer fails for any reason, DBS bears no responsibility for collecting a new request from the Customer.
- In case the linking is successful, Customer’s digiSavings account will be linked for receiving DBT credits.
- DBS will credit the DBT amount to the account mapped against the Aadhaar number as specified by the NPCI. DBS will bear no responsibility on the discrepancies, if any, in the DBT amount.
- If the customer submits multiple requests for DBT linking on the Digibank app, DBS will process the latest entry submitted by the Customer for further processing.
- DBS will not be responsible for the success or failure of the linking request. DBS will only be guided by the status as shared and directed by NPCI. DBS will not be responsible for any delay or discrepancies, thereof.
3.26 Salary credits in digiSavings account
If you receive salary credits directly from your employer in your digiSavings account, and your employer requests the Bank for information on your account, the Bank may share your information such as Account Name, Account Number and active / inactive status of your account, unless you provide an email confirmation to us stating otherwise.
3.27 Contact Us
To find out nearest branch, please visit our Website or in case of any other queries, please refer to the digibank app help module.
4. Common Terms and Conditions applicable to both digibank e-wallet and digiSavings
Common Terms and Conditions applicable to both digibank e-wallet and digiSavings.
4.1 digibank Services
The Bank will endeavour to provide to you through digibank Services such services as the Bank may decide from time to time. digibank reserves the right to make additions/deletions and decide the type of services that any particular category of customer may be offered on each Account and the same may differ from category to category. You can upgrade your digibank e-wallet Account to digiSavings Account. The Bank's decision in this regard will be final and binding. As on this date, these services are available only through the digibank app and Website.
digibank Services are provided for your convenience. You make use of the facility at your own risk. By opening an Account and/or use of the digibank Services you agree unconditionally not to contest any Electronic Statement unless disputed by you within 14 (fourteen) days of the Electronic Statement being made available for download.
Certain services which we offer are only available if you request for such services in the manner prescribed and the use of these services offered or made available to you, within or through the digibank app/Website may be subject to additional Terms and Conditions ("Additional Terms") that we may notify you of, from time to time, by such notification methods as we may choose, including through the digibank app or our Website or via publication through any media. Such Additional Terms will be effective on and from the date specified in the notice. You may be required to indicate your acceptance of the Additional Terms prior to use of those services.
digibank may provide you with various promotional offers/campaigns. digibank may cancel, suspend or vary any of the promotional offers/campaigns at any time without prior notice or assigning reason to you. If any disagreement or dispute arises from the promotional offer/campaign between the you and digibank, the decision of the digibank shall be final. digibank shall bear no responsibility or liability whatsoever in respect of any matter arising from or in connection with products and/or services provided by the merchants involved in the promotional offers/campaigns and/or any information provided by the merchants to you directly or through the digibank. You shall direct any dispute or complaint in respect of the products and/or services to the relevant merchant. Additional Terms with respect to the specific promotional offer/campaign shall apply in addition to these Terms and Conditions.
We collect information from or about the Mobile Phone/Device where you install or access our digibank Services, depending on the permissions you’ve granted. You authorise us to associate the information we collect from your Mobile Phone/Device to authenticate you and to provide consistent digibank Services to you.
4.2 Use of the digibank Services on Third Party websites for Products and Services
The balance in the Account can be used by you for various purposes including money transfer, recharge, and payment for purchase of goods or services from any merchant/Third Party that is associated/registered with digibank for digibank Services. Use of the Account represents a payment instrument used for the above purpose and does not represent sale, resale, or licensing any of the products or the services that digibank reviews, lists, or advertises on its websites/app, and DBS disclaims any responsibility for or liability related to them.
For your convenience, digibank Services may include, refer to or make available hyperlinks to other websites or content on the Internet that are owned or operated by Third Parties. Such linked websites or content are not under our control and we are neither responsible for the contents of or the consequences of accessing any such linked website, nor for any goods or services provided through any such linked websites. Any hyperlinks to any other websites or content are not an endorsement or verification of such websites or content and you agree that your access to or use of such linked websites or content is entirely at your own risk.
In respect of Third Party products and services, your correspondence or related activities with Third Parties, including payment transactions and goods-delivery transactions, are solely between you and that third party. Under no circumstances will we be construed to be a party to any Transaction, if any, between you and any third party products or services provider.
We do not endorse, sponsor, certify, and are not involved in the provision of such third party products or services and we will not be liable in any way for any products obtained and/or purchased from or services rendered by any such third party. You will not involve us in any claims against or dispute with such third party. Any questions, complaints, or claims related to any Third Party product or service will be directed to the appropriate Third Party.
DBS may provide additional features and services which can be accessed using the digibank app/Website. These additional features and/or services are for your convenience and ease. You acknowledge that any feature which provides analysis or assistance is based on Transaction history, operation of the Account data, information and content available on the digibank app and may not reflect a completely accurate picture since all factors related to such analysis may not be available to digibank. DBS will not be held responsible or liable for any decisions made based on such data and analysis. Neither we, the Providers nor the Affiliates will be liable to you (whether based on an action or claim in contract, negligence, tort or otherwise) for any decision made or action taken by you in reliance on or use of any Content. All Content is made available for information purposes only, except where expressly provided otherwise. Specifically, such Content is not intended nor will it be construed as financial, tax or other advice or as an offer, solicitation or recommendation of securities or other financial products. You acknowledge and agree that the Content is provided by DBS for your personal use and you undertake not to redistribute or transmit all or any of the Content to any third party (whether free of charge or for consideration, in any manner or form whatsoever), without our prior written consent. If some content is uploaded by you on the digibank app you will be responsible for such content and you will ensure that such uploaded content does not contravene any applicable laws in force.
4.3 Bill Payment
You may make a bill payment/s from your digibank app to certain Billing Organisations.
The Bill Payment facility is subject to the following:
- You acknowledge and recognise that DBS is merely providing a platform for Bill Payment facility at your request.
- DBS reserves the right to add or remove a Billing Organisation in the digibank app at any time.
- In order to make a bill payment, you will be required to enter the identification details, relevant consumer reference number and such other details as may be required by each Bill Payment transaction and you will be responsible for the accuracy of the details provided.
- You also agree to inform DBS of any change in identification details as registered with the Billing Organisation through the digibank app.
- You consent to the Billing Organisation disclosing your billing details to DBS.
- While DBS will take all reasonable steps to ensure the accuracy of the billing details, it will not be liable for bill payments with incorrect details including late payment charges, loss, duplicate or incorrect payments made from your Account. You will not hold DBS responsible for any loss, damages, etc. that may be incurred/suffered by you if the information provided by you or the Provider turns out to be inaccurate/incorrect and for the biller rejecting the bill amount because of incorrect or incomplete entries.
- You agree that any disputes on bill details will be settled directly with the Billing Organisation and DBS's responsibility is limited to provision of information received from the Providers.
- You agree that the record of the instructions given and Transactions with DBS will be conclusive proof and binding for all purposes and can be used as evidence in any proceeding.
- You agree that we are at liberty to withdraw at any time the Bill Payment facility, or any services provided there under, in respect of any or all digiSavings(s) without assigning any reason whatsoever, without giving you any notice.
4.4 Electronic Instructions
You further agree that DBS, its Affiliates and the Providers will be entitled (but not obliged) to act upon or rely on Electronic Instructions received from your registered current address and/or using your Security Codes or Soft Token ID on digibank app and hold you solely responsible and liable in respect thereof as if the same were carried out or transmitted by you and you waive all rights and remedies against DBS, its Affiliates and the Providers in respect of any loss, damage or expense thereby arising. You will be responsible and will be liable for all Transactions.
Any risk of misunderstanding, error, loss, damage or expense resulting from the use of digibank Services are entirely at your own risk and DBS will not be liable therefore.
You irrevocably and unconditionally authorise digibank to access your Account(s) for effecting banking (including digibank Services) or other transactions performed by you through the digibank app/Website. digibank will have no obligation to verify the authenticity of any transaction/instruction received or purported to have been received from you through the digibank app/Website or purporting to have been sent by you other than by means of authenticating through User ID/Password.
All Electronic Instructions will be deemed to be irrevocable and unconditional upon transmission through the digibank app/Website and DBS will be entitled (but not obliged) to affect, perform or process such Electronic Instruction(s) without your further consent and without any further reference or notice to you. We are not obliged to give effect to any request to cancel or amend any Electronic Instruction.
In the event you give an instruction to debit your Account for payment of an amount from the Account, the instruction will be executed on a real time basis unless otherwise specified by DBS. You will not be able to give any instruction to DBS to stop payment from the Account and the amount debited from the Account will not be reversed to the Account. If you have scheduled a transaction to be processed on a future date and such future date is a holiday in the Branch linked to your Account, such transactions will be executed on the next Business Day.
However, if you have scheduled a transaction to be processed on a future date and wish to cancel the transaction and/or give any instructions to DBS to stop payment from the Account, you will be required to make such cancellations/give stop payment instructions online five (5) business days prior to the scheduled date of such transaction.
You will ensure that there are sufficient funds in the Account for
Transactions and we will not be liable for any consequences arising out of failure to carry out the instructions due to inadequacy of funds provided always that we will 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 will be responsible to repay with interest the resulting overdraft, advance or credit thereby created and for all related costs and charges.
4.5 Processing of Transactions
Certain facilities/services/Transactions that may be offered by the Bank over the digibank app/Website may be carried out instantaneously. However, such facilities/services/Transactions may not be effected instantaneously or may not be available to be carried out instantaneously or otherwise at all times due to failure of the requisite systems and/or discontinuation of the same by the Bank, which will be the sole and absolute discretion of the Bank and will also be subject to such limitations and restrictions as mentioned elsewhere in these Terms and Conditions.
You will not hold DBS responsible for not processing/effecting any transactions transmitted by you over digibank or any consequences thereof since digibank is only provided as a convenience to you and DBS neither assumes nor intends to assume any liability for any transactions carried/not carried over digibank. Without prejudice to the foregoing, digibank will also not be available during the period the systems of the Bank are not functioning for any reason whatsoever.
You acknowledge and agree that we may at any time:
- at our sole discretion and without stating reasons, require that you identify yourself by alternative means;
- require any Electronic Instructions to be confirmed through alternative means;
- decline to act on the Electronic Instructions at any time without prior notice or giving any reason, including;
- to verify the authenticity thereof; or
- where they are ambiguous, incomplete or inconsistent with your other Electronic Instructions or instructions, information and/or data; or
- which may have lapsed, been rendered invalid due to failure to comply with applicable conditions or are cancelled by the relevant regulatory or governmental body; or
- will cause you to exceed your applicable transaction or Account limits, if applicable; or
- will result in any insufficiency of funds.
- determine the order of priority in effecting the Electronic Instructions, the Transactions and other existing arrangements you have made with DBS (for example, standing instructions and funds transfer to other accounts.) without incurring any responsibility for loss, liability or expense arising out of so declining to act.
You agree that we will not be liable for any loss, damage or expense suffered by you as a result of:
- Electronic Instructions being inaccurate, inadequate or incomplete in any way; or
- Any failure, refusal, delay or error by any third party through whom any such Electronic Instruction is transacted.
Where we choose to act on Electronic Instructions, we act on a commercially reasonable effort basis and are not responsible for any acts and omissions while acting in a reasonable manner in discharging the Electronic Instructions.
Notwithstanding the termination of digibank Services, we may (but are not obliged to) carry out any outstanding Electronic Instructions made prior to the termination of digibank Services.
You hereby agree that you will not attempt or permit others to attempt accessing your Account with the Bank through any unauthorised means and you will not part with your User ID and Password and/or Security Codes.
4.6 Fund Transfer Through the digibank App
When the fund transfer facility is made available to you, it may be used for transfer of funds from digiSavings to other accounts/prepaid payment instruments belonging to third parties maintained at DBS and/or at any other bank or third party in India. In the event such transfer of funds is from digiSavings 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 will be governed by the Terms and Conditions applicable to National Electronic Funds Transfer (NEFT)/Real Time Gross Settlement (RTGS)/Immediate Payment Service (IMPS) of RBI as provided on the Website. You will be responsible for keying in the correct account number, Mobile Money Identifier (MMID) and Indian Financial System Code ("IFSC") and other details, as required, for the fund transfer request.
In no case will DBS be held liable for any erroneous transactions incurred arising out of or relating to your entering the wrong account number and/or IFSC Code. DBS will endeavour to effect funds transfer transactions received through the digibank app subject to availability of sufficient funds in the digiSavings. DBS will specify from time to time the limit for carrying out various kinds of funds transfer or any other services through digibank app/Website. This facility will be provided in accordance with the arrangement between DBS, its Affiliates and Providers and as per conditions specified by DBS from time to time.
4.7 Account Balance and Transaction History
You will monitor the balance in your Account and examine all entries in your Transaction history. You will report/notify the Bank as soon as you notice any transactions wrongly made or made without authority or inaccurate entries in the Transaction history or of any matter concerning your Account that may invite suspicion. Unless disputed by you within 14 (fourteen) days of the Electronic Statement being made available for download, the same will be deemed to be correct. DBS will be free from all claims in respect of and any and every Transaction shown in the Transaction history.
You also irrevocably authorise DBS to debit the Account for all Transactions/services undertaken by your User id and Password.
4.8 Security Codes and Security Devices
- Use of the digibank app/Website will require the use of Security Codes or Soft Token ID. Security Codes will be issued directly to you and such issuance will be subject to these Terms and Conditions as applicable to you in your personal capacity. Soft Token ID will be assigned to your Mobile Phone/Device on which you have installed the digibank app and You agree that Soft Token ID will be used to authenticate your transaction/s.
- You are responsible for the confidentiality and use of your Security Codes. You must use your digibank app User name and Password to access and use the digibank app and to perform transaction(s) on the Website. You are responsible for safekeeping and maintaining the confidentiality of your Security Codes. You must not disclose to any person your Security Codes and will not authorise any person to use your Security Codes for any purpose whatsoever. You agree to take reasonable measures and all due care to protect your Password against misuse by third parties. You will, as soon as possible, reset your Password should you notice that your digibank app has been accessed or used without your knowledge, authority or consent. As a matter of abundant precaution you should change your Passwords at periodic intervals.
- It is vital that you take steps to prevent disclosure or discovery of the Security Codes provided to you as you are liable for financial loss incurred or Transactions carried out in connection with any unauthorised use of the Security Codes and you will not claim against DBS in respect of any such use or purported use.
- You must notify DBS immediately if you have knowledge or have reason for suspecting that the confidentiality of the Security Codes have been compromised or if there has been any unauthorised use of the Security Codes (such as where you notice any unauthorised transactions or unauthorised access to your Accounts) or your Security Code has been disabled after a number of incorrect password attempts up to such number as may be communicated by DBS to you from time to time.
- Section 3 of the Information Technology Act, 2000 (and amendments thereafter) prescribes the procedure for authentication of electronic records, which states that a subscriber may authenticate an electronic record by affixing his/her digital signature, and Section 5 provides legal recognition to digital signatures for authentication of electronic records. However, we have adopted the mode of authentication by means of verification of the Security Code, Soft Token ID or through any other mode of verification as may be stipulated at our discretion, which may or may not be recognised under the Information Technology Act, 2000 for authentication of electronic records. Therefore you are solely responsible to maintain the secrecy and confidentiality of the Security Code without any liability on DBS in this regard.
- We will send you Alerts notifying you of transactions conducted on your Account. The nature of transactions for which Alerts are generated, the timing of Alerts and the mode of notification will be determined at our discretion. We will be forced to push these notifications to you regardless of whether your mobile number is registered in the Do Not Call registry or the National Customer Preference Register (“NCPR”).
4.9 Security Issues, Software and Hardware
You will at your cost, procure, maintain and update/upgrade all such software, and/or device, hardware and/or equipment , as applicable, from time to time, to avail, access and use the services of digibank and be compatible with the Bank's system at your own risk and expense. You undertake to ensure that computer systems you use to access digibank Services are free from any malware, virus, Trojan or such other computer contaminants. The Bank will be at liberty to change, vary or upgrade its software, hardware, operating systems, etc., from time to time and will be under no obligation to support your software, hardware, operating systems and that the same will be your sole responsibility. DBS will not be liable for any losses that may be suffered by you as a result of any incompatibility between the Service software and any computer, mobile phone or other device from which you may use to access the Service.
You acknowledge the following Internet-related risks:
- Insufficient technical knowledge and lack of safety precautions can make it easier for unauthorised third parties to access your systems or devices (for example, insufficiently protected storage of data on the hard disk, file transfers and monitor emissions), and it is your responsibility to take the necessary security precautions. You acknowledge the risks of spoofing, identity theft/masking etc..
- Your usage patterns may be monitored by third parties.
- Third parties could gain unnoticed access to your digibank app/Account and detect your access to digibank Services and your communications with us.
- Viruses and other malicious code may interfere with digibank Services, the Channel, the web browser or any relevant telecommunication device or computer systems.
4.10 Maintenance and preservation of records
DBS at its sole option and discretion will maintain such records of transactions carried out by you in your Accounts, as the Bank may deem fit or as mandated by law and regulations. You will not be entitled to question the Bank about the records that are maintained by the Bank or those that are not maintained or preserved by the Bank. In case of conflict between the records kept by DBS and those of yours, the records of DBS will be conclusive and binding. The period for preservation of such records will be as DBS may in its sole discretion deem fit or as dictated by any statutory enactment or regulations.
Due to inherent features of some of the Channels over which the facility of digibank Services is availed by you, you may be able to take out a print of the transaction attempted to be effected by you over digibank Services. You acknowledge and agree that our records and any records of the Electronic Instructions or the Transactions, or any record of transactions relating to the operation of digibank Services and any record of any Transactions maintained by us or by any relevant person authorised by us relating to or connected with digibank Services will be binding and conclusive on you for all purposes whatsoever and will be conclusive evidence of any Electronic Instructions, information and/or data transmitted using digibank Services. You hereby agree that all such records are admissible in evidence and that you will not challenge or dispute the admissibility, reliability, accuracy or the authenticity of the contents of such records merely on the basis that such records were incorporated and/or set out in electronic form or are produced by or were the output of a computer system, and you hereby waive any of your rights (if any) to so object.
As a tool to correct misunderstandings, you understand, agree and authorise us to, at our discretion and without further prior notice to you, monitor and record any or all telephone conversations or electronic communications between you and us and any of our employees or agents.
4.11 Charges and Fees
Please refer to the "Rates and Fees" page on the Website. The same may be revised from time to time and will be made available on the Website.
We reserve the right to and may at our sole discretion, charge and revise fees (for example, subscription fees, per transaction fees etc.) in relation to the use of digibank Services and for the provision of or any replacement of Security Codes or Soft Token ID for whatever reasons from time to time. We will, in most cases, give reasonable notice of such days, as may be prescribed by RBI from time to time, to you, for any change in the rates, fees and charges before they become effective provided that such variation is within our control. The obligation to give you advance notice does not apply if variations are required in an emergency or where it is not practicable to give such advance notice. Provided that any changes made in the Charges and Fees whereby your liability has increased such an increase will be applicable only after notice. It is clarified that for digiSavings holders certain charges will be applicable if you visit the branch for certain Transactions.
You authorise us to debit your digiSavings(s) for all fees for the provision and/or use (authorised or unauthorised) of digibank Services and any other liabilities to, and loss, damage or expense suffered by us as a result of our provision and/or your use (authorised or unauthorised) of digibank Services (including any of your liability to us).
digibank is deemed to have sent notifications and SMS notifications ("Electronic Advice/Notification") to you, even if you are unable to or do not receive the Notification for whatever reason.
If any payment has been made by us as a result of your use or purported use of digibank Services:
- and the Account was consequently debited, but the debit was reversed in error or the Account was not debited at all; or
- consequent to submission of any payment instruction on the Account but before honour of such payment,
then we will be entitled to correct the Account by (i) debiting the Account with the amount paid by us; or (ii) by dishonouring or returning payment instructions and reversing the payment instruction, if there are insufficient funds available in the Account, as the case may be.
Where an Electronic Instruction, or the debiting or crediting of any Account in connection with an Electronic Instruction, requires the conversion of one currency into another, we are authorised to effect such conversions at the rate determined by us and/or Providers.
If GST is charged on any payment, you will pay such GST in addition to all sums payable and indemnify us against any payment we are required by law to collect and make in respect of such GST. We may debit the Account for such GST, including default interest payable in the same manner as may be provided in these Terms and Conditions or in any related agreement for over draft facilities, and/or any other charges, as we may prescribe from time to time, even if such debiting results in the Account becoming overdrawn.
You understand that any access to digibank Services may also be subject to and governed by the relevant laws and regulations of that country from which digibank Services are accessed. You will be responsible for all fees, charges and expenses (including and not limited to charges such as download roaming for overseas usage; for any upgrades in relation to access and use of digibank app; and other charges which may be imposed by CSP in connection with the use of digibank Services.
4.12 Right to Lien and Set Off
The Bank will have an absolute and paramount right of lien and set-off, irrespective of any other lien or charge, present as well as future on the accounts, including amounts lying in Term Deposit linked to your digiSavings or balance lying in digiSavings and also over any and all securities of your lying or that may come into the possession of the Bank from time to time for safe keeping or otherwise in any of your accounts maintained with DBS (singly or jointly) to the extent of all outstanding dues, whatsoever, and howsoever arising.
Without prejudice to the contents of the preceding paragraph, DBS has and will have a paramount and irrevocable right to reverse any entry (debit or credit) made in the Account with reference to any transaction carried out on the ATM, EDC, Point Of Sale, digibank app, Phone banking, cheque deposit, Kiosk, Website or otherwise whatsoever, where in the course of any scrutiny, verification, checking, investigation, audit or otherwise for whatsoever reason or action by DBS, it is found or determined that the entry was incorrect, was not accompanied by proper supporting documents/authorisations, or for whatsoever reason was incorrect or did not meet any rules or regulations or specifications including but not limiting to those of DBS or otherwise. DBS will have and will continue to have a lien on your Account to recover such costs, damages or liability that the Bank may incur or be imposed and will further have the right to claim and recover any shortfall from you.
digibank Services may not be available to you for security and/or technical reasons and for which DBS may not give you prior notice or reason. digibank Services may be suspended or withdrawn for security and/or technical reasons without giving you any reason or notice. If at any time you cease to have an eligible Account or fail to provide your updated details, or fail to confirm your status/KYC verification as deemed by the Bank at periodic intervals we reserve the right to deny you access to digibank Services.
We may withdraw the provision of digibank Services wholly or partly, if at any time the amount of deposit falls short of the required Minimum Balance 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.
4.14 Your Liability
You acknowledge and agree that:
- Access to digibank Services is through your Mobile Phone and any Transaction, which originates from the same using your User ID and Password/Security Codes, whether initiated by you or not will be deemed to have originated from you.
- Any third party breach where the deficiency or negligence lies neither with the Bank nor with You but lies elsewhere in the system, your liability for such unauthorised electronic transaction shall depend on the time taken by you to report the unauthorised transaction from the date of receiving the Alert from the Bank, as prescribed by RBI and Bank’s internal policy in this regard. The longer the time taken by you to notify the Bank about unauthorised electronic transaction in your Account, the higher will be the risk of loss.
- Illegal or improper use of digibank Services by you or any other person will render you liable for payment of financial charges as decided by the Bank and/or will result in suspension of digibank Services provided to you.
- You are aware that email is not a secure or error-free medium of communication and of the possible risks involved in connection with the transmission of information via email.
- You are aware that universally it is understood that there is no way to verify that technologies are fool proof or tamper proof and/or to keep up with the latest technology as available at any particular time.
- You understand and agree that the Bank does not accept liability for any errors or omissions in the content of the email messages and its attachments. You undertake to keep us indemnified at all times against, and to save us harmless from all actions, proceedings, claims, loss, damage, costs and expenses including consequential losses/damages which may be brought against us and which will have arisen either directly or indirectly out of or in connection with us sending account statements and other documents on email.
4.15 Accuracy of information
You will be responsible for the correctness of information supplied by you to DBS through the use of digibank or through any other means such as electronic mail or written communication. DBS accepts no liability for the consequence arising out of erroneous, incorrect or incomplete information supplied by you. If you suspect that there is an error in the information supplied to DBS by you, you will advise DBS as soon as possible. DBS will endeavour to correct the error wherever possible on a ‘best effort' basis. All outputs of statements are duplicate statements of account and will be prepared by electronic means and the information contained therein will be extracted from a computerized backup system maintained by the Bank in its ordinary course of business. While DBS will take all reasonable steps to ensure the accuracy of the statement, DBS is not liable for any error. You will hold DBS harmless against any loss, damages, etc. that may be incurred/suffered by you if the information contained in the above said outputs turns out to be inaccurate/incorrect/incomplete.
DBS will not be obliged to verify the accuracy, adequacy and completeness of Electronic Instructions. Accordingly, DBS, its Affiliates and the Providers may treat the Electronic Instructions as valid and binding on you notwithstanding any error, fraud, and forgery, lack of clarity or misunderstanding in the terms of the Electronic Instructions.
4.16 Limitation of Responsibility and Liability
DBS is not liable for any loss suffered by you or any third party arising from and in connection with your registration of, access to and use of the digibank app/Website except where such loss is attributable to our negligence or wilful default. Without prejudice to the foregoing, DBS will not be liable for any inconvenience, loss, cost, damage or injury suffered by you or any third party arising from or caused by:
- Our compliance with any instruction given or purported to be given by you relating to a Transaction, notwithstanding that the integrity of the information comprised in such instruction may have been compromised or impaired during transmission, provided that such compromise or impairment will not have been apparent to a reasonable person receiving such instruction;
- Use of the digibank app by third parties, whether authorised or unauthorised by you;
- Your transfer of funds to the wrong mobile number or to the wrong recipient;
- Theft or loss of your Mobile Phone/Device, hardware and/or equipment on which the digibank app is installed;
- Your inability to effect or complete any Transaction due to system maintenance or breakdown/non-availability of the digibank app/Website or any network;
- You being deprived of the use of the digibank app/Website as a consequence of any action by us;
- Any failure by us to perform any obligation or observe any of these Terms if such failure arises from a failure of, or any unauthorised and/or unlawful access to, any machine, data processing system or transmission link or any act of force majeure such as acts of God, war or warlike hostilities, civil commotions, riots, blockades, embargoes, sabotage, strikes, lock-outs, fire, flood, shortage of material or labour, delay in deliveries from sub-contractors, or any event outside our control;
- Any equipment or software providers, any service providers, any network providers (including but not limited to telecommunications providers, internet browser providers and internet access providers), or any agent or subcontractor of any of the foregoing; or
- Any act or omission by DBS in compliance with any applicable laws and/or regulations, including laws governing personal data protection, and any instructions and/or directions given by any local or foreign regulatory body, government agency, statutory board, ministry, departments or other government bodies and/or its officials.
Any downloading of data from the digibank app is done solely at your risk, and DBS will not be liable for the integrity or use of any data downloaded in any way.
Provided that you have notified us in reasonable detail and in a timely manner of any problems experienced in the use of digibank Services and the Security Codes, DBS will use commercially reasonable efforts to correct such problems within a reasonable period of time (but without further liability if we are unable to do so). Notwithstanding the aforementioned provision or any other provision of the Terms and Conditions, digibank Services, the Security Codes and the Content are provided on an "as is" and "as available" basis. Neither we nor our licensors (including contributors of articles, reports, surveys and news) warrant the accuracy, adequacy, completeness, timeliness, quality, currency, reliability, performance, or continued availability of digibank Services, the Security Codes, the Soft Token ID or the Content and each of us and our licensors (including contributors of articles, reports, surveys and news) expressly disclaim liability for errors or omissions or any delays in the delivery of the Content, or for any action taken in reliance on the Content. No warranty of any kind, implied, express or statutory, including but not limited to the warranties of non-infringement of third party rights, title, merchantability, satisfactory quality or fitness for a particular purpose, is given in conjunction with digibank Services, the Security Codes, the Soft Token ID or the Content.
DBS may from time to time without giving any reason or prior notice, upgrade, modify, alter, suspend, discontinue the provision of or remove, whether in whole or in part, the Channel, digibank Services, the Security Codes,the Soft Token ID the methods available for access to digibank Services, or any information, services or products provided therein and will not be liable if any such upgrade, modification, suspension or alteration prevents you from accessing digibank Services. The information provided through digibank Services including the specifications, prices, availability and other details of the products and services provided through digibank Services may be modified, deleted, or replaced from time to time and at any time at our absolute discretion. You may be required to update your details periodically as required by the Bank from time to time.
While DBS may apply such technology as it deems fit to ensure the security of and prevent unauthorised access to the digibank Service, DBS does not warrant that digibank Services or any of the Content or the Security Codes, the Soft Token ID will be provided uninterrupted or free from errors or that any identified defect will be corrected; further, no warranty is given that digibank Services, the Security Codes, the Soft Token ID and the Content are free from any computer virus or other malicious, destructive or corrupting code, agent, program or macros.
DBS does not warrant the security of any information transmitted by you or to you through digibank Services or via email or mobile phone.
DBS, its Affiliates and the Providers will in no event be liable to you or any other person for:
- any direct, indirect, incidental, special, consequential, punitive or economic loss, expense or damage arising from or in connection with any access, use or the inability to access or use the Channel, the digibank app, digibank Services, the Content, or reliance on the Content, howsoever caused and regardless of the form of action (including tort or strict liability);
- any downtime costs, loss of revenue or business opportunities, loss of profit, loss of anticipated savings or business, loss of data, loss of goodwill or loss of value of any equipment including software; and/or
- any loss or damage arising as a result of improper usage or malfunction of any computer or mobile phone or other telecommunications equipment used to access digibank Services or incompatibility thereof with our systems;
even if we are advised of, or otherwise might have anticipated, the possibility of such loss, damage or expense.
DBS will be under no liability for any damage, loss or expense, or for any obligation to pay or reimburse interest to you for unsuccessful crediting or debiting of money through the use of digibank Services.
Except where DBS has been grossly negligent, that is for events or acts attributable to its own omission, or lack of due care, it will also under no circumstances be liable for any damages whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character or nature whatsoever and whether sustained/suffered by you or any other person due to any transaction carried out or not carried and/or incorrectly/incompletely carried out and/or being carried out with or without your knowledge or authority on the digibank app/Website and/or due to non-availability or partial availability of any medium of digibank and/or due to any loss/misuse of Debit Card and/or use of your Security Code/password(s) by any other person or persons. The Transaction risk will be yours, except what is stated above. In cases where DBS is led to believe that an instruction may not have been properly authorised by you, DBS will be entitled, after making reasonable efforts to check whether the instruction was properly authorised, to take steps to reverse any action taken on the basis of that instruction. DBS will not be responsible for any losses suffered by you due to such reversals.
4.17 Data Processing
You accept that all information/instructions will be transmitted to and/or stored at various locations and be accessed by personnel of DBS and/or its Affiliates. DBS is authorised to provide any information or details relating to you to a third party to facilitate DBS in providing digibank Services as may be necessary to give effect to any instructions. You agree that DBS and/or Affiliates or their contractors may hold and process your Personal Information and all other information concerning your digiSavings on computers or otherwise in connection with the use of/access to digibank app/Website/availing digibank Service as well as for analysis, credit scoring and marketing.
4.18 Consent to Disclosure/Provision of Information
You consent to DBS and/or any of our personnel disclosing any information (including Personal Information), whether in India or otherwise:
- To any of our Affiliates or Providers who have a legitimate business purpose for obtaining such information, including offering you products or services in connection with or to facilitate the use of digibank Services or for risk management purposes.
- To any of our Providers, Affiliates or any other third party as we may consider necessary in order to give effect to any Electronic Instructions or Transaction or to comply with any order or request of any court or government or regulatory authority in any jurisdiction.
- To any person using digibank Services purporting to be you where such disclosure is reasonably regarded by DBS to be necessary to complete any Transaction or to carry out the Electronic Instructions.
- To any information gathering or processing organisation or department conducting survey(s) on our behalf.
- To any Provider for the purpose of or in connection with the sale, supply, marketing or promotion of any services or products or investigating any complaint or dealing with any query relating to the sale, supply, marketing or promotion of any services or products.
- To the police or other Governmental or regulatory authorities, credit bureaus for the purpose of making a report or facilitating any investigation.
4.18.1: You hereby unconditionally agree that DBS or its contractors may hold and process your personal information on computers or otherwise in connection with digibank Services, other services as well as for statistical analysis and credit scoring and for providing certain value added services.
4.18.2: You agree that DBS may disclose, to other institutions, such information in relation to you as may be necessary for any reason inclusive of but not limited to the participation in any telecommunication or electronic clearing network, in compliance with legal directive, for credit rating by recognised credit scoring agencies, and for fraud prevention.
4.18.3: You irrevocably and unconditionally authorise DBS to access the Account(s) and the Personal Information for effecting the instructions and providing the facility, as well as for analysis, credit scoring and marketing.
4.18.4: DBS's authority to disclose information as set out in this Clause will survive the termination of digibank Services.
4.18.5: Neither DBS nor any of its personnel will be liable for any loss, damage or expense suffered by you as a result of :
- Any disclosure of any information which you have consented to DBS and/or any of our personnel disclosing; or
- Any access by a third party to information obtained through your use of digibank Services.
- You will provide DBS with any information or documentation that we may reasonably request relating to your use of digibank Services and will cooperate with it in any related investigation or litigation.
4.18.6: You will be responsible to notify DBS in the event of a change of your current address, email address, mobile number, otherwise, DBS will have the right to rely on your last known such address and mobile number.
4.18.7: You consent to DBS calling you on your registered Mobile Phone for the purpose of verification of information provided by you, irrespective of your mobile number being registered in the Do Not Call registry or the NCPR.
4.18.8: Notwithstanding any registration by You on the Do Not Call registry or the NCPR and/or Do Not Disturb (DND) database, You consent to DBS, it’s personnel and all such third parties as duly authorised by DBS to contact/get in touch with You by way of E-mail/telephone call/SMS/In-app notification for the purposes of administering or servicing (including for feedback, experience surveys, usability studies and for any other form of market research, survey or studies) any of the Bank’s products/services.
You agree and accept that these Terms and Conditions, the obligations and rights arising under these Terms and Conditions, may be assigned or otherwise transferred to a third party by DBS Bank India Limited without notice and/or your prior written consent.
4.21 Intellectual Property
You acknowledge that the intellectual property rights of DBS are owned by DBS, its Affiliates, or the Providers.
No part or parts of the digibank app may be reproduced, distributed, republished, displayed, broadcast, hyperlinked, transmitted, adapted, modified to create derivative works or otherwise commercially exploited in any manner or by any means or stored in an information retrieval system without our prior written permission. You may view, print or use the Content for personal, non-commercial use only, provided further that you do not modify the Content and that you retain all copyright notices and other proprietary notices contained in the Content.
The trademarks, service marks, and logo ("Trade Marks") used and displayed in or through the digibank app/Website are registered or unregistered Trade Marks of DBS/others.
Nothing in the digibank app/Website will be construed as granting, by implication, estoppels, or otherwise, any license or right to use any Trade Marks displayed in or through the Channel or digibank app/Website, without our written permission.
You agree and undertake to fully indemnify DBS, its 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 digibank Services, and will pay such monies to DBS upon its demand.
DBS reserves the right to use any service providers, subcontractors and/or agents on such terms as it deems appropriate. DBS will provide you digital assistance/system to answer your queries. In case digital assistance is unable to resolve your query then you will have an option to chat with our contact centre staff.
You acknowledge that you have not relied on any representation made by DBS or any of its employees, Affiliates, service providers, subcontractors or agents and have made independent assessment of digibank Services. Except for our Affiliates, service providers, subcontractors and agents, no person or entity who is not a party to these Terms and Conditions will have any right to enforce these Terms and Conditions, regardless of whether such person or entity has been identified by name, as a member of a class or as answering a particular description. For the avoidance of doubt, this will not affect the rights of any permitted assignee or transferee of these Terms and Conditions.
4.24 Variation in Terms and Conditions
DBS may by notice through the Channel or by such other method of notification as it may designate (which may include notification by way of email), vary these Terms and Conditions, whereupon such a variation will take effect on the date specified by us (which will generally be no less than thirty (30) days from the date of the notice). If you use digibank Services including any new services after such date, you are deemed to have accepted such variations and such amended Terms and Conditions will be binding on you. If you do not accept the variation, you must stop using digibank Services and terminate digibank Services. Our right to vary these Terms and Conditions in the manner aforesaid may be exercised without the consent of any person or entity who is not a party to this Terms and Conditions.
DBS, its Affiliates and Providers will not be liable for any non-performance, error, interruption or delay in the performance of any obligations under this Part or in the Channel's or digibank Services' operation, or for any inaccuracy, unreliability or unsuitability of digibank Services and/or the Content if this is due, in whole or in part, directly or indirectly to an event or failure which is beyond its reasonable control (which includes acts of God, natural disasters, acts of terrorism, embargoes, epidemics, acts of any Government or authority, power failures), and the acts or a party for whom DBS, its Affiliates or Providers are not responsible for.
If at any time any provision of these Terms and Conditions will be or will become illegal, invalid or unenforceable in any respect, the legality, validity and enforceability of the remaining provisions of these Terms and Conditions will not be affected or impaired thereby, and will continue in force as if such illegal, invalid or unenforceable provision was severed here from. Our waiver of any of the covenants to be performed by you or any breach by you will not be construed to be a waiver of any succeeding breach by you or of any other covenant. Our rights and remedies in these Terms and Conditions are cumulative and not exclusive of any other rights or remedies provided by law.
DBS agrees that if you open further accounts with/subscribe to any of the products/services of DBS or any of its Affiliates or Providers DBS extends to such accounts or products or services and you opt for use thereof, then these Terms and Conditions (as may be amended from time to time) will automatically apply to such further use of digibank by you.
4.26.1 Communication from digibank
You hereby authorise DBS or its agents to send promotional messages including the products of the digibank app/digibank Services, greetings or any other messages/communications which DBS may consider appropriate from time to time, by way of SMS and/or Email.
DBS is entitled to send you "notifications in the digibank app and SMS notifications" ("Notifications") relating to your access to and use of the digibank app and any updates on related services. Such messages may also be sent to numbers registered in the Do Not Call registry or NCPR, if the Bank deems fit to do so and as the Customer you indemnify our act.
4.26.2 Communications through electronic means
Electronic delivery may be in the form of electronic mail, an attachment to the electronic mail, or in the form of an available download from the Channel. DBS will be deemed to have fulfilled its legal obligation to deliver to you any document if such document is sent via electronic means. Failure to advise DBS of any difficulty in opening a document so delivered within twenty-four (24) hours after delivery will serve as an affirmation regarding the acceptance of the document.
It may be noted that alerts if sent through SMS will be sent to the registered mobile number only.
All communication by DBS will be in English and will be through email to your email address as per our records; or using electronic services or any other electronic media or through your cell phone. Where necessary, DBS may also give any notice and communication through the press, radio, television, internet or any other media at the discretion of DBS's choice. Any communication from DBS to you will be deemed to have been received by you and complete:
- If sent by email – at the time of sending to your email address.
- If sent by electronic services – at the time it was sent.
- If made through the press, radio, television or internet – at the time it was made.
- If made over the digibank app or on the Website – at the time of publishing.
4.26.3 Communication from you
Any notice, instruction, correspondence or other communication you give to DBS must be in writing and must be received by DBS. DBS may accept instructions over the digibank app or the Website or by phone (for limited purposes) or over the counter (for limited purposes), electronic services or by any other mode that DBS may agree with you. You must provide to DBS any application forms, authorisations or other documents as may be required by DBS.
4.27 Feedback and Complaint Mechanism
You have the option to give your feedback in the digibank app at any time with our 24x7 virtual assistant, powered by artificial intelligence.
You have the option to put a complaint through the digibank app or to refer to the Website for grievance redressal.
DBS reserves the right to investigate complaints regarding the use of the digibank app, digibank Service or reported violations of these Terms and to take any action DBS deems appropriate, including but not limited to reporting any suspected unlawful activity to law enforcement officials, the appropriate authorities or regulators and disclosing any information necessary or appropriate to such officials, authorities or regulators, whether located in India or outside of India.
4.28 Governing Law and Jurisdiction
These Terms will be governed by and construed in accordance with the laws of India and you irrevocably submit to the non-exclusive jurisdiction of the Mumbai courts.
5. Terms and Conditions for Visa Virtual Debit Card and Visa International Debit Card
5.1 Debit Card Terms and Conditions
These Terms and Conditions are applicable to your Debit Card. Please read them carefully before you sign or use the Debit Card. When you read these Terms and Conditions bear in mind that "you", "your" and "Card Member" mean the person holding the digibank e-wallet Account or digiSavings. The words "we", "our", "us" and "Bank" refer to DBS Bank India Limited and its successors and assigns.
5.2 Applicability of Terms
The Terms and Conditions contained herein form a contract between You and DBS Bank India Limited. You will be deemed to have unconditionally accepted these Terms and Conditions and accepted the onus of ensuring compliance with the relevant RBI Regulations, Exchange Control regulations of Reserve Bank of India ("RBI"), Foreign Exchange Management Act 1999 as may be amended or replaced from time to time and all the rules and regulations framed there under, by opening a digibank e-wallet Account or digiSavings.
These Terms and Conditions will be in addition to and not in derogation of the Terms and Conditions relating to digibank e-wallet or digiSavings. You, while making use of any services/facilities relating to the Debit Card will at all times continue to be bound by the Terms and Conditions stipulated by DBS Bank India Limited from time to time for such services/facilities.
Unless otherwise set out, the following terms will have the meaning as set out hereunder. Words denoting the singular include the plural and vice versa; words denoting the masculine gender include the feminine or neuter gender and vice versa; references to persons are to be construed as references to an individual, company or trust as the context requires and vice versa. Clause and other similar headings are for ease of reference and will not affect the interpretation of any provision herein. In this agreement, unless otherwise required:
- "Account" means and includes both digibank e-wallet and digiSavings or any of them.
- "ATM" means an automated teller machine or card operated machine or device whether belonging to us or of any other bank on a shared network, you can use your Visa International Debit Card to access your funds in your Account/s held with us.
- "ATM Limit" means the maximum permissible limit prescribed by the Bank for all cash withdrawals and/or any other Transaction which you may effect through an ATM in any one day or per transaction.
- "Card Transaction" means any payment made or any amount charged for any goods, services and/or other benefits by, through or from the use of the Debit Card in signature or the PIN or in any other manner, regardless whether a sales draft or other voucher or form is signed by you and whether authorisation has been sought by us.
- "Card-Not-Present Transaction" means a Transaction effected in a merchant environment where the Card Member and the Card are not physically present at the time of usage. Typical Card-Not-Present transactions include but are not limited to internet-based transactions, mail, telephone or facsimile orders or reservations or recurring payments. All transaction for the Visa Virtual Debit Card will be Card-not-present Transactions.
- "digiSavings" refers to a savings account designated by us to be an eligible account for operation through the use of the Debit Card and/or accessed by you through Electronic Services.
- "digibank app" means an application for Mobile Devices that can be downloaded by you from a designated location or application store.
- "digibank e-wallet or digibank e-wallet Account" means a product offered by digibank through the digibank app and is a semi closed prepaid payment instrument (non-interest bearing) that may be used by you as a wallet on your Mobile Phone or any other permitted device.
- "Electronic Services" means any banking and other services or facilities which we and/or any Participant may make available to you from time to time and offered via electronic means, including any card, electronic computerised or telecommunication devices or modes of operating accounts in or outside India, and where the context requires, also means any PIN and/or Card used to access Electronic Services.
- "GST" means any goods and services tax, including any tax of a similar nature that may replace it or be levied in addition to it, by whatever name called.
- "Information" means information regarding the money or other relevant particulars relating to you, or any User, or the Account or any Transaction.
- "International Transactions" refers to the transactions performed by you through the Debit Card outside India, Nepal and Bhutan.
- "Merchant" means any person, firm or corporation which enters into an agreement with the Bank, or any member or licensee of Master Card International, Visa International, or any other electronic service provider relating to the use and/or acceptance of a Card in payment to such person whether for goods, services or charges provided or incurred.
- "Participant" means any person, firm, company or organisation in India or otherwise which, from time to time, participates or is involved, directly or indirectly, in providing Electronic Services or any goods and services in relation to the Card.
- "PIN" means a PIN generated by the user in the digibank app in relation to the use of the Card and/or access of Electronic Services.
- "Point of Sale/POS" transactions means transactions initiated at Merchants' point of sale terminals.
- "Spending Limit" means the maximum permissible limit prescribed by us in respect of total Card transactions effected in a day.
- "Terms and Conditions" mean these Terms and Conditions as amended or supplemented by us.
- "Transaction" means any transaction or instruction effected or issued, or purported to be effected or issued, by you through the Card and/or Electronic Services.
- "User" means you.
5.4 Terms and Conditions for Usage of the Visa Virtual Debit Card on the Internet
- You agree and accept the services that are being provided by us at your request to carry out online transactions through Visa Virtual Debit Card instructions on your digibank e-wallet or digiSavings account, as given by you. You hereby undertake that you will take all necessary precautions to prevent unauthorised and illegal use of the Debit Card and unauthorised access to your digibank e-wallet or digiSavings account/s.
- You have no objection whatsoever, that your billing details are provided to us by merchants to whom you make payment using digibank Services.
- The Visa Virtual Debit Card can be used by you (unless otherwise specified by DBS Bank) at all internet websites in India which display the logos of the Bank/Visa/MasterCard/ and/or any other shared networks and/or agencies as may be recognised by DBS Bank from time to time and which have the facility of offering goods or services for purchase through internet websites in India.
- You agree that a valid Visa Virtual Debit Card will mean a Debit Card which is currently active on the system and not blocked or hot listed. If a Debit Card is hot listed or blocked, you will not be able to carry out any transactions with immediate effect.
- You will be responsible for ensuring the availability of the balance and accuracy of the amount and payment details.
- You agree that you will make payments as required by the merchant. You will not hold us responsible for the merchant rejecting the payment amount because of incorrect or incomplete entries or for any other reasons whatsoever. You agree that the record of the instructions given and transactions with us will be conclusive proof and binding for all purposes and can be used as conclusive evidence in any proceeding.
- You understand and acknowledge that only those websites/merchants accepting payments through mVisa/Bharat QR or who offer a 3D secure or 2nd factor authentication will allow transactions done through the Visa Virtual Debit Card. You also understand and agree that the shared networks may provide different functionalities and service offerings that may require you to provide certain additional details to complete the online transaction.
- You agree that the said functionalities and service offerings by the shared networks will be advertised on the Internet Website of the merchant by displaying an additional logo/trademark/symbol.
- You agree that for the purpose of using the Visa Virtual Debit Card for an internet purchase, you will provide the card number, Card Verification Value (CVV) security digits, expiry date of the Debit Card, and a One Time Pin (OTP) which will be sent to your registered mobile number with us. You agree that for the purpose of using the Visa Virtual Debit Card to make payment to your merchant using mVisa/Bharat QR, you will login to your digibank app, scan the relevant Quick Response (QR) code and authenticate using your Soft Token ID.
- You agree that unless (i) you enter the complete and correct data/information in the verification field/s in the internet website or (ii) you properly scan the QR code of your merchant, you will not be able to make payment using your Visa Virtual Debit Card.
- In case you wish to cancel a completed transaction due to an error or on account of agreed merchandise return, the earlier transaction must be cancelled with the merchant and a confirmation of the cancelled receipt must be retained in your possession.
- Reversal/refund of debits due to such transactions will be processed manually and the confirmation of the cancelled receipt needs to be produced by you, if called for.
- You agree that all refunds due to non-delivery of goods or services/rejection of the goods or services will be done at the request of the relevant merchant only. In case of refunds, we will not refund payment processing charges levied, if any, on you for processing of the transaction.
- You agree that without prejudice to anything contained anywhere in these Terms and Conditions, we will be under no liability, whatsoever, to you , in respect of any loss or damage arising, directly or indirectly, out of (i) any defect in any goods or services supplied; (ii) the refusal of any merchant to honour or accept the payment through Visa Virtual Debit Card; (iii) the malfunction of any computer terminal, any delay/technical failures; (iv) sharing of access details of your account by you or any third party to any unauthorised person; (v) Any misstatement, misrepresentation, error or omission in any details disclosed to us by you; or (vi) Any discrepancy between the amount required to be paid by the respective merchant(s) and the instructions given by you; or (vii) inability of your Mobile Device to scan the QR code; or (viii) failure of the merchant to raise cancellation/refund request.
- You agree that we will not be responsible for any dealings that you may have through internet websites, including but not limited to the supply of goods and services. It must be distinctly understood by you that this Debit Card facility is purely a facility for you to purchase goods and/or make use of services, and we hold out no warranty or make no representation about the quality, delivery or otherwise of the merchandise.
- You agree that for reasons that the internet website is not capable of accepting all the details required by us and/or the shared networks to complete the online transaction, the said transaction will not be treated as complete and in which case we will not be held liable for any incomplete/unprocessed/rejected transactions.
- You agree that on completion of the online purchase transaction, the amount for which you make an online purchase will be debited from the digibank e-wallet or digiSavings account (as the case may be) linked to the Debit Card immediately.
- You agree that we will not be held responsible for the delivery of any item purchased by you or the condition of the item when it is delivered. Our role is restricted to provision of information and payment services only. All disputes regarding delivery/condition of goods are to be taken up directly with the concerned merchant. We will not, in any way, be responsible for merchandise, merchandise warranty or services purchased, or availed of by you from Merchant Establishments, including on account of delay in delivery, non-delivery, non-receipt of goods or receipt of defective goods by you.
- You agree that will you have any complaints concerning any transaction placed through internet website, the matter will be resolved by you with the concerned merchant and failure to do so will not relieve you from any obligations to us. We accept no responsibility for any surcharge levied by any internet website and the same being debited to your Account with the transaction amount. You will at all times take all appropriate steps, including those as mentioned herein, to maintain the security of the Card, ATM PIN and other details pertaining to your Debit Card.
- You agree that any dispute or claim regarding the merchandise must be resolved by you with the merchant. The existence of any claim or dispute will not relieve you of your obligation to pay all the charges and you agree to pay promptly such charges, notwithstanding any dispute or claim, whatsoever.
- In case of any dispute, we reserve the right to suspend any merchant/master merchant either temporarily or permanently. During this period, the Debit Card facility will not work for all such suspended merchants.
- We reserve the right to change, at any time, these Terms and Conditions, features and benefits offered to you including, without limitation to, changes which affect existing balances, interest charges or rates and methods of calculation. You agree that charges, if any, for the Debit Card facility and related services will be at our sole discretion and will be at the liberty to vary the same from time to time. We will communicate all the amended Terms and Conditions by hosting the same on our website, www.dbs.com/digibank/in/terms-and-conditions.html, or in any other manner as decided by the Bank. You will be liable for all charges incurred and all other obligations under these revised Terms. You will be responsible for regularly reviewing these Terms and Conditions including amendments thereto as may be posted on the website and will be deemed to have accepted the amended Terms and Conditions by continuing to use the direct debit facility.
- We may, at our sole discretion, utilise the services of external service provider/s or agent/s and on such terms as required or necessary, in relation to the products/services made available by us.
- You agree that we will at our own discretion withdraw at anytime the Debit Card facility, or any services provided hereunder, in respect of any or all the account(s) without assigning any reason whatsoever, without giving you any notice.
- You agree that you will not use the Visa Virtual Debit Card facility/services for any mail order/phone order purchases and any such usage will be considered as unauthorised and you will be solely responsible.
5.5 Electronic Services
The Visa Virtual Debit Card can only facilitate electronic transactions through websites in India.
5.6 Use of Visa Virtual Debit Card
This Visa Virtual Debit Card can only be used to carry out only domestic transactions. It is clarified that card not present transactions like merchant payments using mVisa/Bharat QR and payments on domestic websites can only be carried out.
5.7 Spending Limit
5.7.1 Domestic Spending Limit
digibank e-wallet account:
Subject to availability of balance in your digibank e-wallet Account, in case of Visa Virtual Debit Card a per day spending limit of Rs. 10,000/- and a monthly spending limit of Rs. 10,000/- or such amount as may be determined by the Bank from time to time will be set for usage of your Debit Card for domestic transactions. The limit in case of Visa Virtual Debit Card on your digibank e-wallet account is Rs. 10,000 per transaction. The Spending Limit will apply to all Card Not Present transactions (including internet purchases) and/or for utilising other Electronic Services, if and when introduced.
digiSavings account opened using OTP-based eKYC process OR biometric authentication:
Subject to availability of balance in your digiSavings account opened using OTP-based eKYC process or biometric authentication, a per day spending limit of Rs. 1,00,000, or such amount as may be determined by the Bank from time to time, will be set for usage of your Debit Card. The Spending Limit will apply to all Point of Sale and/or Card Not Present transactions (including internet purchases) and/or for utilizing other Electronic services, if and when introduced. We may allow setting different spending limits for different customers.
If you hold a Visa Virtual Debit Card on your digiSavings account, you can use your card only for domestic Card Not Present Transactions (including internet purchases). The limit in case of Visa Virtual Debit Card on your digiSavings account opened using OTP-based eKYC process is Rs. 1,00,000 per day.
If you hold a physical Visa International Debit Card on your digiSavings account, you will be allowed to withdraw cash subject to the availability of balance in your account up to the ATM Limit. You must not use or attempt to use your Debit Card to effect any cash withdrawal or any other transactions if the ATM Limit or available balance will be exceeded. The onus of ensuring adequate balances in your digiSavings is entirely on you. You can use your Visa International Debit Card to withdraw up to INR 25,000 per day from ATM and POS transaction limit of INR 1,00,000 per day.
5.7.2 International Spending Limit
You can use your physical Visa International Debit Card outside India (except in Nepal and Bhutan) to withdraw up to INR 25,000 per day from ATM and POS transaction limit of INR 25,000 per day.
5.7.3 Charges Not To Exceed Spending Limit
You may perform a Visa Virtual Debit Card Transaction only if there are sufficient funds in your digibank e-wallet or digiSavings Account to cover such transactions and the total charges incurred will not exceed the Spending Limit. You will not effect or attempt to perform any Visa Virtual Debit Card Transaction that will result in your Spending Limit being exceeded. We may also refuse to authorize any transaction that you wish to effect even if such transaction will not cause your Spending Limit to be exceeded.
5.8 Duty to Notify Us
You must notify us immediately if (a) the Debit Card is used by any other person or (b) any other event occurs which will, under these Terms and Conditions, allow us to suspend or cancel the use of Debit Card or the Electronic Services.
You may notify us of the loss/theft of mobile or unauthorised use by hotlisting the Debit Card from the digibank app or call our 24 hour Customer Service Hotline at 18602103456 or by notifying us in writing by visiting the DBS Bank branch nearest to you during the working hours on working days of the Branch or such other modes as may be acceptable to the Bank.
5.9 Terms and Conditions ("Terms and Conditions") for Usage of Visa International Debit Card for digiSavings
5.9.1 Know your Debit Card
Your Visa International Debit Card is a physical debit card. Once you request for a Debit Card in the digibank app, you will have an option to choose between your current address on our records or provide an alternate address for the delivery of your Debit Card. The address you choose for delivery of your Debit Card shall be within any of the cities were DBS Branches are located. You will ensure that the same is received in a sealed envelope. We are not liable for any loss or damage which you may suffer if you fail to receive the Debit Card.
To activate Visa International Debit Card, you will have to generate a Personal Identification Number (PIN) on the digibank app. This PIN will enable access to your DBS Bank International Debit Card at ATMs and POS. For security reasons, Debit Card is being sent as ‘inactive' for usage across channels. You understand that activation of your Visa International Debit Card is required for confirmation of the Debit Card delivery address provided by you. You should activate your Visa International Debit Card within ninety (90) days of request of your Visa International Debit Card, failing which the Bank may block your digiSavings Account disallowing debit and credit transaction. You acknowledge and agree that You cannot perform any transaction in the digiSavings Account until You activate your Visa International Debit Card.
After activation of your Visa International Debit Card, the Visa Virtual Debit Card will cease to exist.
5.9.3 Usage Guidelines
Your Debit Card is extremely versatile and simple to use. It works similar to a credit card while making purchase transactions at Merchant Outlets, the key difference being that the transaction amount is directly debited from your Account with DBS Bank. The Debit Card also doubles up as an ATM Card, thus saving you the need of carrying separate ATM Card. You can use the card for ATM and POS transactions outside India.
5.9.4 Visa International Debit Card
You acknowledge, represent and warrant that the PIN selected by you provides access to your digiSavings and that you accept the sole responsibility for use, confidentiality and protection of the PIN, as well as for all orders, information and charges entered in to the digiSavings(s) using such PIN. You will at all times take all appropriate steps as mentioned herein to maintain the security of the PIN.
DBS Bank may, following the occurrence of any event (Loss/stolen Debit Card) or otherwise in its absolute discretion issue a new PIN on the existing physical Debit Card and charge a replacement fee. Subject to the RBI guidelines and internal policy of the Bank with regard to unauthorised electronic transactions, you will not hold DBS Bank liable in case of any improper/fraudulent/unauthorised/duplicate/erroneous use of the Debit Card and/or the PIN. DBS Bank will also not be liable for any consequences connected with the use/misuse of the Debit Card by any third party due to the Debit Card falling in the hands of any third party or the PIN coming to the knowledge of any third party. If any third parties gain access to the services, including the digiSavings, due to your negligence you will be responsible and will indemnify DBS Bank against any liability, costs or damages arising out of such misuse/use by third parties based upon or relating to such access and use or otherwise.
5.9.5 ATM Usage
You can use your Debit Card as a regular ATM Card to withdraw cash and undertake other transactions at any DBS Bank or Visa ATM, displaying the Visa logo in India and overseas. Visa has the widest network of over 43,000 ATMs in India and over 1,000,000 worldwide, enabling convenient 24-hour access to any of the accounts linked to your DBS Bank International Debit Card. For a comprehensive list of all Visa ATMs in India and across the world, please visit the Visa website at www.visa.com.
Subject to availability of balance in your Account, a per day cash withdrawal limit through the ATM will be determined by the Bank from time to time and will be available in the digibank app for reference.
In case you are unable to withdraw cash from any Visa ATM, try keying in a lower amount (as some ATMs have a cash disbursement limit) or try after a few minutes (as the network server may be down).
5.9.6 At DBS Bank ATMs
At any DBS Bank ATM in India you can (assuming you have a digiSavings linked to your Debit Card.):
- Complete a cash withdrawal from your digiSavings.
- Check the account balance of your digiSavings.
- Get a mini account statement.
- Make a cash/cheque deposit to the digiSavings.
- Transfer funds between accounts linked to your Debit Card maintained with the Bank.
- Transfer funds to third party accounts within the DBS Bank India network.
- Change your PIN.
- Presently, all transactions at DBS Bank ATMs in India are complimentary.
Note: Please note that funds transfers to non-resident accounts are not permitted.
5.9.7 At Non-DBS Bank ATMs
You can only undertake cash withdrawal and balance inquiry transactions of your digiSavings at Visa ATMs. Do note that w.e.f 1st August 2018 all transactions (at Non DBS Bank ATMs) after first 10 free transactions (per month) will be subjected to a transaction charge/fee as per the Rates and Fees. All withdrawals from Non DBS Bank ATMs in India will be subject to availability of balance in your Debit Card Account and limits as may be determined by the Bank from time to time. Please note that not all ATMs have a balance enquiry option.
5.10 Debit Card features:
5.10.1 Point of Sale (POS) Transactions
Using your Visa International Debit Card for shopping at any of the 425,000 Visa Electron merchant outlets in India and more than 24 million worldwide could not be easier. Follow these simple, convenient steps to make your shopping experience truly enjoyable.
- Look for a Visa/Visa Tap to Pay sign at the Point-of-Sale merchant establishment. The merchant must have an Electron Point-of-Sale card swiping terminal/ Visa Tap to Pay enabled terminal.
- Present your Debit Card after making your purchase.
- The Debit Card will be swiped by the merchant on a Visa Electron Data Capture Terminal for authorisation. In case of Visa Tap to Pay transaction the Debit Card will be held/waved by the Customer close to merchant Tap to Pay enabled reader/terminal.
- In case of VISA Tap to Pay Debit Card transactions up to INR 2,000 or such other amount as may be permitted, made on Tap to Pay enabled terminals, you will not require any PIN for authorization. In case of any other POS transactions you need to enter your ATM PIN for authorization.
- You may use your Debit Card to effect any number of card transactions on Visa Tap to Pay readers provided that the value of each Visa Tap to Pay transaction does not exceed INR 2000 or such other amount as may be determined by us from time to time at our sole and absolute discretion without notice to you.
- After a successful authorisation, a hold for the transacted amount will first be placed on your digiSavings. Your digiSavings will subsequently be debited for the transacted amount.
- A sales slip will be generated.
- Check and sign the sales slip, if required by the Merchant. Your signature must match with that on the reverse of the Card.
- Ensure your Debit Card is returned to you.
- Preserve your copy of the sales slip for future reference.
- Subject to availability of balance in your digiSavings, a per day limit of such amount as may be determined by the Bank from time to time, will be set for usage of your Debit Card at merchant outlets. When the Debit Card is used at a merchant establishment, the purchase amount will always be debited from the digiSavings.
- Do note that since signature/PIN verification is required for Debit Card transactions, you need to be physically present along with your Debit Card at the time of purchase. Debit Card cannot be used for mail order and telephone order transactions.
Visa International Debit Card is accepted only at all Visa supported Point-of-Sale terminals at merchant establishments in India and overseas, which display the Visa logo. You must sign the sales slip and retain your copy of the sales slip whenever the Debit Card is used at merchant establishments on Point of Sale terminals. We will not furnish copies of the sales slip. Any sales slip not personally signed by you but which can be proven, as being authorised by you will be deemed to be your liability.
We will not accept any responsibility for any dealings the merchant may have with you, including but not limited to the supply of goods and services so availed or offered. Should you have any complaint relating to any Visa supported Card merchant establishment, you will resolve the matter with the merchant establishment and failure to do so will not relieve you from any obligations to us. If you decide to cancel your purchase and not accept the goods after the Debit Card is swiped, ensure that the merchant cancels the transaction immediately and the cancellation slip is handed over to you. Any cancellation thereafter will be routed as a 'chargeback' on the merchant through the acquiring bank and will take the time required to complete the process. There can be no guarantee of full/partial return of the amount.
We accept no responsibility for any charges levied by any merchant establishment over and above the value/cost of transactions and debited to your Account along with the transaction amount.
A purchase and a subsequent credit for cancellation of goods/services are two separate transactions. The refund will only be credited to your digiSavings (less cancellation charges) as and when it is received from the merchant. If the credit is not posted to your digiSavings within 30 days from the date of cancellation, you must notify us, along with a copy of the cancellation slip from the merchant.
Debit Card should not be used for any mail order/phone purchases and any such usage will be considered as unauthorised and you will be liable for all cost and consequences arising or relating thereto.
5.10.2 mVisa/Bharat QR
You can use your Visa Virtual Debit Card and Visa International Debit Card for making payments to mVisa/Bharat QR merchants in India using mVisa/Bharat QR facility. You acknowledge that for using mVisa/Bharat QR facility you will have to scan the QR code of the relevant merchant, to whom you wish to make payment, and authorize payment after verifying the payment details. You agree that on completion of the mVisa/Bharat QR transaction, the amount for which you make payment to merchants will be debited from the digibank e-wallet or digiSavings account (as the case may be) linked to your Debit Card. In case a transaction is disputed by the customer, the Bank will follow the standard procedure of raising a chargeback with merchant acquirer bank in accordance with the dispute resolution guidelines and can take minimum of 45 days for the disputed amount to be credited in the customers Account.
5.11 International Usage
Your Debit Card is accepted at DBS Bank ATMs and at Visa ATMs in India and abroad. Your Debit Card is not valid for payment in foreign exchange in Nepal and Bhutan.
Please Note: In case of international cash withdrawal transactions, the applicable exchange rates and fees will be levied.
Utilisation of the Debit Card must be in strict accordance with the Exchange Control Regulations of the Reserve Bank of India (RBI) prevailing from time to time. In the event of your failure to do so, you will be liable for action under the Foreign Exchange Management Act 1999 (FEMA) as may be amended or replaced from time to time and may be debarred from holding a Debit Card either at the instance of the Bank or RBI. You will indemnify and hold us harmless from and against any/all consequences arising from you not complying with Exchange Control regulations. At the time of cash withdrawal at Visa ATMs while abroad the screen will display 3 options for account selection - 1) Savings 2) Checking 3) Credit. Please choose the "Checking" option, as this option hits the Visa network. In some countries you may have to choose the "Credit"option.
At a few Merchant establishments abroad (especially in the United States of America), you may have to ask the cashier to swipe your Debit Card as a credit card. This is because in some countries "Debit" is connected only to the local network and the transaction may be declined, as it will not reach the Visa network. Your Debit Card will continue to function as a Debit Card.
5.12 Advantages of Your Debit Card
The Visa International Debit Card comes with a lost card liability and personal air accident cover.
126.96.36.199 Lost Card Liability Cover Up to INR 50,000
You are protected against fraudulent purchase transactions in case your DBS Bank International Debit Card gets lost or stolen. This cover will be applicable for nine (9) days and will cover two (2) days prior to the day on which the report of loss or theft of the card to DBS Bank in India (call our DBS Bank Customer Service Number 18602103456 ) or to the Visa Global Assistance Helpline (if overseas) has been made. You may notify us of the loss/theft or unauthorised use by calling our 24 hour Customer Service Hotline at 18602103456 or by notifying us in writing subsequently by visiting the branch nearest to you during the working hours on working days. Please refer to the Visa International Debit Card Agreement for further details.
Scope of Cover: All fraudulent utilisation of lost or stolen DBS Bank International Debit Card including due to counterfeit/lost in transit/ATM transactions/internet Banking transactions, point of sale and merchant establishments transactions and Pre-Delivery.
For the purpose of the policy: ATM Fraud means and includes fraudulent cash withdrawal and fraudulent Transactions using stolen/lost cards. Internet Banking Fraud is defined as fraudulent transactions made on the internet by use of lost/stolen cards. ATM related transactions covered provided that it is not done by the Card Member/authorised person.
Please note that all PIN or Soft Token ID authenticated or PIN verified transactions will not be covered. You will file the First Investigation Report (FIR) with the respective Police authority of the competent jurisdiction within 3 days from loss/when the card was stolen and submit the copy of the same to the Bank within 3 days.
Lost Card Liability:
- Reporting Period - 2 days pre-reporting and 7 days post reporting cover.
- All fraudulent utilisation of lost or stolen covered Debit Cards including due to counterfeit/lost in transit/ATM transactions/internet Banking transactions, point of sale and merchant establishment transactions are covered.
- ATM Fraud defined as fraudulent cash withdrawal and fraudulent transactions from stolen/lost cards.
- ATM related transactions are covered provided that it is not done by the Card Member/authorised person.
- Any PIN based transactions (like ATM, Internet and telephone etc.) are covered provided the PIN is acquired under duress by unauthorised person.
- All losses arising from break of 2nd level authorisations are not covered. Warranted that all the cards are chip and pin based.
- Internet Banking Fraud is defined as fraudulent transactions made on the internet by use of lost/stolen cards.
- Pre-delivery fraud is not covered.
- It is mandatory to submit an FIR in case of a lost card.
5.12.2 Counterfeit Cards
- Skimming - Any Fraudulent Use of a Bank Card(s) where property, labour or services are sold and delivered by a merchant to an individual purporting to be the Card Member using telephone, fax machines, postal services or a computer based system or network.
- Losses arising out of duplicate or counterfeit cards as issued by the Bank created without the Card Member's knowledge.
- The Insured must cancel the Card as soon as practicable, but in any event not more than 7 days, after receipt of notification of the unauthorised access or theft.
- Reporting Period - 2 days pre-reporting and 7 days post reporting cover.
- Claim has to be reported by You within 15 days from the date of issue of statement containing the disputed counterfeit transaction.
5.12.3 Online Fraud Protection
- Phishing/account takeover - Any fraudulent loss or damage arising due to Information obtained by unauthorised access to sensitive information such as usernames, passwords and any card details by masquerading as a trustworthy entity in an electronic communication which is not owned, operated or contracted by the Insured or the Insured's Bank Card processor.
- The policy covers all online fraudulent utilisation of debit Cards using the authorised CVV (Card Verification Value Code) issued to You by the Bank.
- Covers Liability arising out of any loss or damage of Card transactions using the authorised PIN issued to You by the Bank.
- Reporting Period - 2 days pre-reporting and 7 days post reporting
- Security Code/Password based transactions are not covered.
- The Company will not make any payment for any claim directly or indirectly arising from, or occasioned by, or due to
- Loss incurred by You because of misuse of debit card at any site not having authorised VeriSign Security status or any other equivalent security status at any point in time for the entire period of the insurance.
- Any failed/duplicate/declined transactions by host website/authorised bank
- Any errors made by the host website/authorised bank. Internet Banking Frauds is defined as fraudulent transactions being made on the internet by use of lost/stolen cards.
5.13 Global Customer Assistance Service (GCAS)
This is a chargeable service provided by Visa. Card Members can receive assistance from Visa Global Customer Assistance Service, 24 hours a day, 7 days a week. GCAS can be used for lost/stolen card reporting, emergency cash assistance or miscellaneous information that you may require overseas. Please refer to the website www.visa-asia.com for the GCAS toll free numbers.
Please note that the services are presently charged as Miscellaneous Customer Service Inquiries: US $ 5 per Inquiry and Lost/Stolen Card reporting: Free. Please also note that these charges may vary from time to time.
5.14 Taking Care of Your Debit Card
Following these simple guidelines will ensure that using your Debit Card is a pleasant experience.
- Treat your Debit Card in the same way you treat cash. Keep it with you at all times and never leave it unattended.
- Your Debit Card is for your exclusive use only. It should never be surrendered to anyone other than a designated bank officer at a DBS Bank branch (India) and only after cutting it into several pieces through the magnetic strip.
- Never reveal or surrender your personal identification number (PIN) to anyone. Please destroy all evidence of the PIN after memorizing it. Do not write it on the Debit Card and never keep a written copy of it in close proximity to your Debit Card. We recommend that you change the PIN to a number of your choice as soon as possible and thereafter at regular intervals. Please note that your PIN can be changed on the digibank app as well as at a DBS Bank ATM.
- In case your Debit Card is lost/stolen or if you suspect that your card has been used fraudulently, as a first measure – block the card in the digibank app. In case you cannot access the app, call the Customer Service Number at 18602103456 (for domestic) and 044-49021180 (while travelling outside India, immediately to report the loss).
- In case you need your physical Debit Card to be reissued or terminated, kindly log in to the digibank app for blocking or requesting reissuance of your physical Debit Card.
- If you have a digiSavings account opened using OTP based eKYC process and are currently holding a physical Debit Card, you will be issued a Virtual Debit Card when you request for reissuance of your existing physical Debit Card. This is a one-time, non-reversible conversion.
- A replacement your physical Debit Card will be provided to you within indicated time lines and at applicable tariffs. Upon the expiry of your physical Debit Card or closure of your digiSavings, please cut your physical Debit Card into several pieces through the magnetic strip.
- Always ensure that the physical Debit Card is used in your presence when transacting at merchant establishments. Never sign an incomplete charge slip.
- It is imperative that you read the Debit Card Terms and Conditions before using your Debit Card. Please refer to the schedule of service charges for details of applicable charges and fees.
- Please do not leave your physical Debit Card on a television or on any other electronic device which has continuous magnetic field.
- You will have to log in to the digibank app for reissuance of your physical Debit Card, and manual request for reissuance is not available.
5.15 Replacement of Pin
Following the occurrence of any lost or stolen physical Debit Card, you may request a new physical Debit Card and generate a new PIN on the digibank app. We reserve the right to charge a replacement fee as applicable in case of re-issuance of physical Debit Card from time to time.Please refer to our Rates and Fees page on our website for applicable charges.
5.16 Use of Visa International Debit Card Outside India
Transactions in foreign currency will be converted to Indian rupees on the date of conversion based on the rates decided by the Bank/Visa. The rate used for conversion may be different from the rate in effect on the date of the transaction due to market fluctuation. All transactions in foreign currency are subject to a charge imposed by the Visa association, either as a reimbursement charge representing the charge imposed on us or as a direct charge to you. An administrative fee as applicable at the time of charging of the foreign currency transaction amount for services provided or actions taken by us in relation to such foreign currency transactions will be payable by you and debited to your digiSavings.
5.17 Hold on Debit Card Account
We may set aside or place a hold on your digiSavings in respect of any transaction on the day such transaction is presented to us for payment or on the day we receive notice of such transaction. Such an amount set aside or held is only an estimated sum of the actual transaction and may not be identical to the actual transaction. Should we set aside or hold any amount, the available balance in your digiSavings will be reduced by such amounts that we set aside. You may not stop payment on such transactions nor use any sum set aside or held by us. Where applicable, we may set aside or hold such sums for up to 10 days after which we will debit your digiSavings for the full amount of the actual transaction.
5.18 Regulations of RBI
Debit Card is not valid for foreign currency transactions in Nepal and Bhutan (i.e. in any currency that is not the local currency or the Indian Rupee).
We will be under no liability whatsoever and will be deemed to be indemnified in respect of a loss or damage arising directly or indirectly out of the decline of a charge caused by you having exceeded the foreign exchange entitlements as prescribed by the Reserve Bank of India (RBI) as issued from time to time, on us becoming aware of your exceeding the entitlements.
The multi-lingual Visa Emergency Assistance Services Programme offers worldwide emergency referral assistance to Visa Card Members when travelling overseas. These include a wide range of legal, medical and other services. The communications and arrangements of services of the emergency assistance programme are provided by a third-party service provider and are paid for by Visa International and you are responsible for the cost of any/all medical, legal or other services used. Assistance is provided on best effort and may not be available due to problems of time, distance or locations. The medical and/or legal professionals suggested and/or designated by Visa International are not employees of Visa International and therefore, they are not responsible for the availability, use, acts, omissions or results of any medical, legal or transportation services. The Bank does not accept any responsibility for the arrangement or the use of such services.
5.19 Duty to Prevent Loss/Theft/Fraud
Your Debit Card remains our property at all times and the Visa International Debit Card must be destroyed by you on our request or on cancellation or termination of the Debit Card and/or Account. You must keep your Debit Card securely and ensure that your Account number and PIN are not disclosed to any other person. The Debit Card is to be used solely by you and must not be transferred or pledged as security in any way.
5.20 Recovery of Lost/Stolen physical Debit Card
If you recover the lost or stolen physical Debit Card, you must immediately return the said physical Debit Card to us cut in half through the magnetic strip without using it.
5.21 Replacement of physical Debit Card
Following the occurrence of any event mentioned above, we may at our discretion make available the ‘Request a new physical Debit Card' option available in the digibank app.
5.22 Operating your Account
Applicable to all Account/s, Visa International Debit Card and Virtual Debit Card.
5.22.1 Liability for Transactions
The monthly Electronic Statement is generated after the end of every month and is available within the digibank app. The statement lists all transactions undertaken by you on the Account in the previous month.
5.22.2 Earmarking Of Account Balances
Even if we have agreed otherwise in any other agreement relating to the Account either with you alone or with any other person(s); we will be entitled to retain the balance on any/all your Account/s for up to seven (7) days after the date when your Account is closed or terminated (whether by you or by us). Our rights under this Agreement will not cease after the termination of the Account/s; and we have the right to continue debiting your Account/s with overdraft charges (if any) and/or Debit Card transactions effected before or after the closure or termination of the Account. Your liability (and the liability of all other persons, if any, in whose name the Account is maintained) to us under this Agreement for any balance due to us will continue.
5.23 Charges and Fees
5.23.1 Cash Withdrawal/Balance Inquiry Fee
Please refer to the "Rates and Fees" page as available on www.dbs.com/digibank/in/rates-and-fees.html for details of existing charges, as may be applicable.
We may debit your digiSavings with a fee for each cash withdrawal transaction/balance inquiry, if applicable at the time of posting the cash withdrawal. We may choose to waive such fees or change it with prior notice to you.
5.23.2 Annual Charges
The annual fees, if any, for the Debit Card will be debited from Account linked to the Debit Card on application/renewal at the Bank's prevailing rate. These fees are non-refundable.
5.23.3 Reissue Charges
The Bank reserves the right at any time to charge you for the issue or reissue of a physical Debit Card.
5.23.4 Statutory/Regulatory Charges or Fees
Any government charges, duty or debits, or tax payable as a result of the use of the Debit Card will be your responsibility and if imposed upon the Bank (either directly or indirectly) or in respect of any amount required to be paid under this Agreement, the Bank will debit such charges, duty or tax from the Account.
5.23.5 Other Charges
In addition to the above, we may also debit your Account and/or any Account you maintain with us where applicable for the following charges including but not limited to:
- Administrative fees for production of documents, for any replacement of physical Debit Card or documents relating to your Debit Card.
- Cancellation fees for "no show reservations", a charge for cancelling or failing to fulfil an airline or hotel reservation secured through your Visa International Debit Card.
- Service charge/administration fees for any action taken by us in carrying out any of your instructions and/or requests relating to your digiSavings, whether such service or action is referred to or contemplated in these Terms and Conditions or otherwise.
- Charges, fees, withdrawals and payments for the provision and/or use (authorised or unauthorised) of Electronic Services and any other liabilities to, and loss suffered by, us as a result of the provision and/or use of Electronic Services.
- In addition, operators of shared networks may impose an additional charge for each use of their ATM/POS Terminal/other device, and any such charge along with other applicable fees/charges will be deducted from the Account. There may be separate service charges levied for such facilities as may be announced by the Bank from time to time and deducted from the Account.
- You also authorise the Bank to deduct from your Account, and indemnify the Bank against any expenses it may incur in collecting money owed to it by you in connection with the Debit Card (including without limitation reasonable legal fees). In addition to the minimum balance stipulation the digibank may levy service and other charges for use of the Debit Card, which will be notified to you from time to time.
- In the case of Transactions entered into by you outside India through the Debit Card, the equivalent in the currency in which the Debit Card holder's Account is held, along with processing charges, conversion charges, fees if any charged as per Visa regulations, any other service charges for such transactions will be debited to the Account held with DBS Bank in India.
5.23.6 Right to Vary Charges
We may at our discretion vary the rate or amount of any charge, fee or overdraft rate payable under this Agreement by prior communication to you. A period will be specified after which you will be deemed to have accepted the change and the revised charges/fees will become applicable. Details of the applicable fees and charges as stipulated by the Bank will be displayed on the Website and/or at the branches. Please refer to the Rates and Fees page on the Website for details on the tariffs applicable.
5.23.7 Levy and Recovery of Charges
The Bank reserves the right to charge and recover from you, service charges for providing and utilising the Visa International Debit Card. You hereby authorise the Bank to recover the service charges by debiting the Account or any other account/s you may hold. Your failure to do so will result in recovery of the service charges by the Bank in a manner that the Bank may deem fit along with applicable interest, and/or suspension of Visa International Debit Card, without any liability to the Bank.
5.24 Termination of Use of Debit Card and Account
5.24.1 Our Right to Terminate
We may suspend or terminate your Debit Card or Account or your usage of Electronic Services at any time with/without having to give any reasons or notice. Upon termination, you will not use or attempt to use the Debit Card. Any such use will be fraudulent. If the use of the Debit Card is terminated by us for any reason, you must disable (in case of the Visa Virtual Debit Card) or return the Visa International Debit Card to us cut in half through the magnetic strip. There will be no refund of any fees payable upon the termination of the Debit Card for any reason.
5.24.2 Your Right to Terminate
You may terminate your Debit Card or your use of Electronic Services at any time by giving us written notice and returning to us (if applicable) the physical Debit Card cut in half through the magnetic strip or by disabling the virtual Debit Card (in case of Visa Virtual Debit Card). You may also terminate this Agreement by giving us written notice and (if applicable) surrendering/disabling the Debit Card, as the case may be. Upon termination, you will not use or attempt to use the PIN and/or Debit Card. Any such use will be considered fraudulent.
5.24.3 Obligations Upon Termination
Upon the termination of your Account for whatever reason, you will not continue to use your Debit Card. Your obligations under this Agreement will continue and we will remain entitled to debit the Account you maintain with us for any Transactions that are carried out before or after the termination of your Account. Until such transactions and any overdraft charges that may be imposed in the manner stipulated in Section 5.25.2 above are paid in full, you (and any other person, if any, in whose name the Account is maintained) will remain liable to us.
5.24.4 Liability of Debit Card Member
You will be liable for, and will pay, us, on demand, the balance due to us on your Account, including all charges debited to your Account in accordance with this Agreement or any other agreement between you (whether alone or jointly with any other person or persons) and us.
5.25 Exclusions and Exceptions
5.25.1 Non-Acceptance of Debit Card
We are not liable in any way:
- should your Debit Card(s) or PIN(s) be rejected by a merchant or any terminal used to process Debit Card transactions or if we refuse for any reason to authorise any Debit Card transaction;
- for any malfunction, defect or error in any terminal used to process Debit Card transactions, or other machines or system of authorisation whether operated by us or other persons;
- for any delay or inability on our part to perform any of our obligations under this Agreement or otherwise if such delay or inability arises from a failure of, or any unauthorised and/or unlawful access to any machine, data processing system, transmission link or arising from any electronic, mechanical system, data processing or telecommunication defect or failure, power and electricity failure, act of God, civil disturbance, war or warlike hostilities, civil commotions, riots, blockades, embargoes, sabotage, strikes, lockouts, fire, flood, shortage of material or labour, delay in deliveries from sub-contractors or any event outside our control or the control of any of our agents or contractors or any fraud or forgery or;
- for any damage to or loss or inability to retrieve any data or information that may be stored in your Debit Card or any microchip or circuit or device in your Debit Card;
- for our compliance with any instruction given or purported to be given by you relating to Electronic Services, notwithstanding that the integrity of the information comprised in such instruction may have been compromised or impaired during transmission, provided that such compromise or impairment will not have been apparent to a reasonable person receiving such instruction;
- if you are deprived of the use of any Electronic Services as a consequence of any action by us and/or any Participant; or
- any Electronic Service not being available due to system maintenance or breakdown/non availability of any network; or
- for any equipment or software providers, any service provider, any network providers (including but not limited to telecommunications providers, Internet browser providers and Internet access providers), any Participant, or any agent or subcontractor of any of the foregoing.
In any event, we are not liable for anything done or omitted to be done except in the case of our gross negligence or wilful default.
5.25.2 Problems with Goods and Services
We are not liable in any way should you encounter any problems with the goods and services that you obtain through the use of your Debit Card or Electronic Services nor are we responsible for any benefits, discounts or programmes of any merchant that we make available to you. Notwithstanding the non-delivery or non-performance or defects in any such goods and services, we will be entitled to debit your Account you maintain with us for the full amount pursuant to that Debit Card Transaction. You will settle any dispute directly with the provider of the goods and services.
5.25.3 No Liability for Consequential Loss
Neither we nor any Participant will be responsible in any way for any direct, indirect, special or consequential, economic or other damages arising in any way from the provision and/or use of Electronic Services or your usage of the Debit Card.
5.25.4 No Liability for Debit Card-Not-Present Transactions
We may, in our discretion and without giving prior notice approve or authorise such Card-Not-Present transactions in which event you will be liable for all Card-Not-Present transactions effected through the use of your Debit Card for any reason. We will not be liable to you in any way for any authorisation done in connection with Card-Not-Present transactions.
5.25.5 Conclusiveness of Documents and Certificates
Any of our records relating to Debit Card Transactions with your signature or authorised by your PIN are conclusive evidence of their accuracy and authenticity and will be binding on you for all purposes. You will also notify us if you discover any errors or inaccuracies in any digiSavings/s statement. Unless disputed by you within 14 (fourteen) days of the Electronic Statement being made available for download, the same will be deemed to be correct.
5.25.6 Electronic Services
You may use your Debit Card and/or PIN for effecting authorised transactions, including Visa International Debit Card transactions through the ATM and/or Card Not Present transactions made by using Visa Virtual Debit Card (domestic internet purchase transactions), and/or for utilising other Electronic Services. No other person is allowed to use the Debit Card and/or PIN to make any transactions. We may determine at our sole discretion the facilities that you may utilise using your PIN. Should we decide to, we may also modify any such facilities at our sole discretion.
You will not record the PIN in any form so as to avoid the possibility of the PIN becoming known to a third party. You grant express authority to DBS Bank for carrying out transactions and instructions authenticated by the PIN and will not revoke the same. DBS Bank has no obligation to verify the authenticity of the transaction instruction sent or purported to have been sent from you other than by means of verification of the PIN.
5.25.7 Use of Debit Card
You undertake not to use the Debit Card for making payment for any illegal purchases i.e. purchases of items/services not permitted by law and RBI as per extant regulations.
You agree to hold us harmless if any other person obtains possession of the PIN. You will safeguard any PIN generated by you and follow every procedural, security and other requirement and notice of ours and/or the relevant Participant regarding their use, or, as the case may be, you will comply with the provisions of this clause regarding any PIN. You will notify us immediately if:
- Any DBS PIN is disclosed to any person.
- Any Debit Card is used by any other person.
- Any other event occurs which will, under the terms of this Agreement, allow us to suspend or cancel the use of Electronic Services. After receipt of any such notice purporting to come from you, we may suspend or cancel your use of Electronic Services at any time.
You will notify us immediately (through the digibank app or any other mode as may be available) if any other event occurs which will, under the terms of this Agreement, allow us to suspend or cancel the use of Electronic Services. After receipt of any such notice purporting to come from you, we may suspend or cancel your use of Electronic Services at any time.
5.26.1 Changes to the Terms and Conditions
We may change the contents of this Agreement and/or create new Terms and Conditions at any time by notifying you of the changes. The changes will take effect on the date specified in the notice. Should you continue to keep or use the Debit Card and/or the Electronic Services after the specified date, you will be deemed to have accepted the changes without reservation. If you do not accept the changes, you must stop using the Debit Card and/or Electronic Services and terminate this Agreement.
5.26.2 Publication of Changes
We may notify you of any changes to these Terms and Conditions by publishing such changes on our Website or by displaying them at our branches. We may however choose to inform you by other means of communication.
5.27 Disclosure of Information
5.27.1 Parties to Whom Disclosure May Be Made
You authorise us to disclose any particulars of your Account/s and/or your use of the Debit Card to:
- any person or organisation participating in the provision of electronic or, without limitation, other services in connection with banking services or usage or loyalty benefits made available or utilised by you, whether in India or outside India for the purpose of the operation of the said services, including but not limited to investigating discrepancies, errors or claims;
- banks, credit or charge card companies or merchants in credit or charge card enquiries; outsourced agents appointed by us for the purpose of making printing, mailing, storing microfilming and/or filing personalised cheques, statements of digiSavings, Debit Card, labels, mailers or any other documents or items on which your name and/or other particulars appear, or any data or records or any documents whatsoever
- any information garnering or processing organisation or department or consultant conducting survey(s) or analyses or developing system applications on our behalf;
- any person or organisation for the purpose of marketing or promoting any services or products whether our own or tied up by us;
- Visa International, MasterCard International or American Express International;
- any of our related corporations for risk management purposes, for monitoring credit exposures across the DBS Group to you and for cross-selling purposes. "DBS Group" means any of our subsidiaries, our holding company and any subsidiaries of our holding company;
- any government agency or authority or courts of the jurisdiction where any of our overseas branches are situated; or
- any person or organisation for the purpose of collecting or recovering on our behalf, or securing for your benefit or repaying on your behalf, any sums of money owed to us by you;
- any Participant or third party which has a legitimate business purpose for obtaining such information, including offering your products or services in connection with or to facilitate the use of Electronic Services; to any person using the Electronic Services purporting to be you; where such disclosure is necessary to complete any Transaction.
You acknowledge that:
- to ensure your interest, we may record on camera or on videotape, at our own discretion the access to and the presence of any person while availing the use of the Debit Card. All records maintained by us, in electronic or documentary form of the instructions from you and such other details (including but not limited to payments made or received), and all camera/video recordings made as mentioned above will as against you, be deemed to be conclusive evidence of such instructions and such other details.
5.27.3 No Liability for Disclosure Permitted Under Terms and Conditions
Neither we nor any of our officials will be liable for any loss or damage suffered by you or as a result of any disclosure of any Information which you have consented to us and/or any of our officials disclosing.
5.27.4 Provision of Information
You will provide us with any information or documentation that we may reasonably request relating to your use of Debit Card or the Electronic Services and will cooperate with us in any related investigation or litigation. If the information is not provided or if information provided is incorrect, we may at our discretion refuse renewal or reissuance of Debit Card or cancel the Debit Card forthwith.
5.27.5 Consent Clause
You hereby expressly authorise the Bank to disclose at any time and for any purpose any information whatsoever relating to my/our particulars, Account, deposit, transactions, or dealings with the Bank, to any court of competent jurisdiction, quasi judiciary authority, law enforcement agency, relevant wing of state government, RBI, Income tax authorities, statutory authorities, financial institutions, credit bureaus/agents/vendors or any company which is an affiliate or associate or subsidiary or a group company of the Bank.
5.28 Communication and Service of Documents
We may send Debit Card related notices, Account statements or any other communication to you by in-app messages, facsimile transmission, short message system (SMS), electronic mail, ordinary prepaid post or personal delivery to your registered current address in our records. Communication and notices sent by in-app messages/facsimile/SMS/email will be considered to have been sent and received by you on the same day irrespective of carrier delays. Communication and notices sent by pre-paid mail will be considered to have been delivered on the day immediately after the date of posting if sent by post in India, and considered delivered five (5) days after the date of posting if sent outside of India. As of now, communication will be available within the digibank app to which Debit Card is linked.
5.28.2 Service of Documents
We may serve you with a writ of summons, statement of claim or any other legal process or document requiring personal service by delivering it personally, sending it by ordinary post or by leaving it at your last known address (whether a post office address or private residence or business residence or otherwise). You will be considered to have been properly served on the date of delivery if we deliver the documents personally to you, or served on the next day after the date of posting if the documents are posted to you. In addition to these two (2) methods of service, we may serve you in any other method permitted by law.
5.29.1 Recovery of Costs
Any costs, fees or expenses (including legal costs) that are incurred by us as a result of your breach of the Terms and Conditions of this Agreement or arising out of our enforcement of any of our rights will be recoverable by us from you on a full indemnity basis.
5.29.2 Transactions Involving Foreign Currency
If the currency of any card transaction is different from that in which your digiSavings is maintained, we will be entitled to convert such transactions into the currency of your Account or any other currency at such rate(s) of exchange as we may determine; and debit your digiSavings with the amount of the Debit Card transaction. We may debit, as applicable, all sums payable to us under these Terms and Conditions to your Account and for this purpose convert credits and charges incurred into the currency of your Account at such rate(s) of exchange as we may determine.
5.29.3 Instructions from You
All requests or instructions from you must be made through the digibank app. In case that is not possible, it may be submitted in writing to your nearest DBS Bank branch. We may choose to accept any instruction from you made through electronic mail, and in the case of the telephone, such instruction that we believe is given by you even if you had not actually given such instructions.
You will indemnify us against any liability, loss, damage, including solicitor and client costs and expenses (legal or otherwise) which we may sustain or incur, directly or indirectly, by reason of our having made available the Debit Card or the Electronic Services or having entered into this Agreement with you or enforcement of our rights under this Agreement or in acting upon any instructions which you may give in relation to the Debit Card or the Electronic Services or any negligence, fraud and/or misconduct on your part or on the part of any agents or representatives of yours or your breach of this Agreement, fraudulent/unauthorised/duplicate/erroneous use/misuse of the Debit Card and/or PIN.
5.29.5 Terms and Conditions
In addition to this Agreement, the use of the Debit Card and/or Electronic Services is also subject to our prevailing Terms and Conditions governing Accounts. If there is any conflict or inconsistency between this Agreement and the Terms and Conditions governing Accounts, it will be at the discretion of the Bank to decide whether terms of either Agreement will prevail.
If any term of this Agreement is unlawful or unenforceable under any applicable law, it will, to the extent permitted by such law, be severed from this Agreement and rendered ineffective where possible without modifying the other terms of this Agreement.
5.29.7 No Waiver
No failure to exercise, nor any delay in exercising, on our part any right or remedy under this Agreement will operate as a waiver thereof, nor will any single or partial exercise of any right or remedy prevent any further or other exercise thereof or the exercise of any other right or remedy. Our rights and remedies in this Agreement are cumulative and not exclusive of any other rights or remedies provided by law.
5.29.8 Terms And Conditions Governing Electronic Transactions/Debit Card
At your request, we may issue you a physical Debit Card which may, at your risk, be sent to you by any means. As of now, the PIN can be generated within the digibank app.
Following the occurrence of any event referred above, we may at our discretion issue a replacement PIN and/or physical Debit Card on the prevailing Terms and Conditions for Electronic Services and charge a replacement fee. At this time, the PIN can be generated from within the digibank app.
5.29.9 Use of Electronic Services
We and/or the Participants may at any time without notice to you
- determine and vary the frequency and manner of use of Electronic Services, transaction limits, operating hours, types of facilities and services available through Electronic Services or
- add or delete any Participant. You will be responsible for all transactions made by the use or purported use of the Electronic Services by any person, with or without your authority, knowledge or consent, and may not claim against us in respect of any such use or purported use.
We and/or the Participants may at any time, without notice to you and without assigning any reason therefore, and without liability for any inconvenience, loss, damage or injury suffered by you or any third party:
- limit, suspend or terminate any or all of the Electronic Services; or
- disallow any Transaction or allow a Transaction subject to such conditions as we see fit; or
- revoke or suspend your, or any User's, right and authority to use Electronic Services; or
- retain or reject any Debit Card and/or PIN.
Any claims against or disputes with a Participant are to be settled between you and the Participant. You will not claim against us in this respect.
In case of Visa Virtual International Debit Card/digiSavings, Cash and proceeds of cheques (including house cheques) deposited through the Electronic Services cannot be withdrawn until collected and verified by us. Our determination of the amount deposited will be conclusive against and binding on you.
5.29.10 Payments, Charges, Fees, Costs, and Taxes
You will pay such charges and fees for the provision of Electronic Services as we may prescribe from time to time, whether or not you in fact make use of such Electronic Services. We are authorised to debit your Account for all charges, fees, withdrawals and payments for the provision and/or use (authorised or unauthorised) of Electronic Services and any other liabilities to, and loss suffered by, us as a result of the provision and/or use of Electronic Services. If the Account has insufficient available funds to meet any request for payment of monies or to satisfy any liability, we may (but are not bound to) grant you credit to meet such payment or liability. You undertake to pay interest and charges at such rates or amounts as determined by us. Where a Transaction, or the debiting or crediting of any Account in connection with a Transaction, requires the conversion of one currency into another, we are authorised to effect such conversions at the rate determined by us and/or Participants. If GST is charged on any payment, you will pay such GST in addition to all sums payable and indemnify us against any payment we are required by law to collect and make in respect of such GST. We may debit the Account for such GST, including default interest payable in the same manner as may be provided in this Agreement or in any related agreement for credit facilities, and/or any other charges, as we may prescribe from time to time, even if such debiting results in the Account becoming overdrawn.
We will not be liable for any loss suffered by you or any third party arising from and in connection with the use of the Electronic Services except where such loss is attributable to our negligence or wilful default. Neither we nor the Participants will be liable for any inconvenience, loss, damage or injury suffered by you or any third party arising from or caused by:
- Our compliance with any instruction given or purported to be given by you or a User relating to Electronic Services, notwithstanding that the integrity of the information comprised in such instruction may have been compromised or impaired during transmission, provided that such compromise or impairment will not have been apparent to a reasonable person receiving such instruction.
- Your being deprived of the use of any Electronic Service as a consequence of any action by us and/or the Participants; or
- Any Electronic Service not being available due to system maintenance or breakdown/no availability of any network; or
- Any failure by us and/or any Participant to perform any obligation or observe any term of this Agreement if such failure arises from a failure of, or any unauthorised and/or unlawful access to, any machine, data processing system or transmission link or any act of force majeure such as acts of God, war or warlike hostilities, civil commotions, riots, blockades, embargoes, sabotage, strikes, lock-outs, fire, flood, shortage of material or labour, delay in deliveries from sub-contractors, or any event outside our control; or
- Any equipment or software providers, any service provider, any network providers (including but not limited to telecommunications providers, Internet browser providers and Internet access providers), any Participant, or any agent or subcontractor of any of the foregoing.
- Non-availability of ATM services in a country other than in which the Debit Card was issued. This will be governed by local regulations in force in the said country.
- Any downloading of data from any Electronic Service is done solely at your risk, and we will not be liable for the integrity or use of any data downloaded in any way.
- Neither we nor any Participant will be responsible in any way for any direct, indirect, special or consequential, economic or other damages arising in any way from the provision and/or use of Electronic Services.
5.29.12 Records of Transactions
The records of transactions of us and Participants will be conclusive against and binding on you except in the case of computation and/or manifest error.
5.29.13 Reversal of Entries
If any payment has been made by us as a result of your use or purported use of Electronic Services:
- And the Account was consequently debited, but the debit was reversed in error or the Account was not debited at all; or
- After any payment instruction was given on the Account but before such payment instruction has been honoured,
Then we will be entitled to correct the Account by debiting the Account with the amount paid by us.
5.29.14 Instructions from You
All requests or instructions can be placed within the digibank app. We may choose to accept any instruction from you made through electronic mail, and in the case of the telephone, such instruction that we believe is given by you even if you had not actually given such instructions. Any non-written instructions will be given to us at your risk and we will not be responsible for any loss or damage that you may suffer.
5.29.15 Provisions of these Terms and Conditions to Prevail
The provisions of these Terms and Conditions will supplement and not replace the provisions of any agreement you may have with us with respect to any Account(s) or the Electronic Services, any other agreement(s) between us and you or any of our rights arising under any such agreement(s). Should the provisions of these Terms and Conditions and the provisions of any such other agreement on the subject covered under these Terms and Conditions conflict, the provisions of these Terms and Conditions will prevail.
5.29.16 Additional Benefits, Services or Programmes
We may provide at our sole discretion, additional services, benefits or programmes in connection with the use of your Debit Card. Such additional services where provided, do not form part of our legal relationship with you and we may withdraw or change these services at any time without notice to you. These additional services benefit or programmes may be subject to their own Terms and Conditions.
5.29.17 Delay or Failure to Exercise Rights
Any delay or failure by us to exercise our rights and/or remedies under this Agreement does not represent a waiver of any of our rights. We will be considered to have waived our rights only if we specifically notify you of such a waiver in writing.
5.29.18 Governing Law
These Terms and Conditions are subject to Indian law and you hereby submit to the exclusive jurisdiction of the courts of Mumbai in India.
6. Terms and Conditions applicable to UPI Facility
For the purposes of this Section, unless otherwise set out, the following terms will have the meaning as set out hereunder.
“Merchant/s” shall mean and include persons/entities/body of individuals who provide goods and services against payment through UPI.
“NPCI” means National Payments Corporation of India.
“Payment Order” means an unconditional instruction issued by the Customer electronically to DBS (either through DBS’ internet banking facility or short message service (SMS) or unstructured supplementary service data (USSD) or interactive voice recording (IVR) services provided by DBS or digibank app or DBS ATMs or through such other means, as may be made available by DBS from time to time) to effect a fund transfer for a certain sum of money expressed in Indian rupees, to the beneficiary account of a beneficiary by debiting Customer’s UPI Linked Account/s.
“PSP or Payment Service Provider” refers to banks which are allowed to acquire customers and provide payment (credit/debit) services to Customers.
“UPI Linked Account(s)” refers to the digiSavings bank account and includes resident savings/current bank account held with any bank in India participating in the UPI System, to be used for operations through the UPI Facility.
“UPI Unified Payment Interface” service provided by NPCI to transfer and collect funds electronically through UPI System.
“UPI Facility” means the Unified Payments Interface service based electronic fund transfer and fund collection facility extended by DBS to its Customer/s through the UPI System as per the Guidelines.
“UPI System” means UPI services offered by NPCI, in collaboration with its member banks, through NPCI owned and managed software and systems.
The clause headings in these UPI Terms are only for convenience and do not affect the meaning of the relative clause. Words or expressions used in this form, but not specifically defined herein shall have the respective meanings assigned to them by NPCI.
6.2 UPI Facility
- You understand that UPI Facility provides anytime electronic fund transfer or fund collection service to the customers of UPI member banks who extend UPI Facility to its customer. Customers have the option to send funds, receive funds or respond to funds collection from their digibank app in a secure manner including for any of their UPI Linked Account/s. Customer can even add funds to their digiSavings Account.
- As a PSP, DBS will provide UPI Facility in the existing digibank app which will use the NPCI’s UPI libraries to facilitate payment services.
- The Customer/s desirous of availing the UPI Facility, shall by way of a registration on digibank app, in such form, manner and substance as DBS may require, apply for UPI Facility. DBS shall be entitled, at its sole discretion, to accept or reject such application/s. On digibank app, Customer will be required to set a Virtual Payment Address (“VPA”) with Customer’s digiSavings Account with DBS for the purpose of availing UPI Facility and before commencing first transaction. Customer can link other UPI enabled bank account/s through a one-time registration process prescribed by NPCI before transacting from the other UPI Linked Account/s.
- The Customer agrees that in the event there are insufficient funds in the UPI Linked Account, DBS may decline Payment Order/s. The Customer authorizes DBS to debit the digiSavings Account or UPI Linked Account with DBS for any liability incurred by DBS on behalf of the Customer for execution of the instruction/Payment Order issued by the Customer. The Customer understands and agrees that once a fund collection request is approved, the funds will be credited in the respective UPI Linked Account from which the fund collection request was initiated. The Customer understands and agrees that such amounts once credited to the UPI Linked Account cannot be reversed by the Customer.
- The Customer acknowledges the risks involved in the electronic instruction and processing of transactions. DBS, its affiliates and shall not be liable for any unauthorized persons accessing the records or UPI Linked Account(s) or information through the use of UPI Facility. The Customers agrees to not hold DBS liable for unavailability of UPI Facility due to any downtime.
- The Customer agrees that the UPI Facility is being extended by DBS in accordance with the RBI guidelines on mobile banking and the same are subject to change.
- The Customer will have an option to delete VPA in the digibank app. The VPA once deleted cannot be re-issued to any person for next two (2) years or such other period as may be prescribed under the Guidelines. Any funds received at the deleted VPA will be rejected.
- DBS may refuse to comply with the instructions without assigning any reason and shall not be under any duty to assess the prudence of any instruction. All instructions, requests, directives, orders, directions, entered by the Customer, are based upon the Customer’s decisions and are the sole responsibility of the Customer.
- The Customer agrees not to make any claim against RBI and/or NPCI in respect of the UPI Facility.
- All the records of DBS generated by the transactions arising out of the use of the UPI Facility, including the time the transaction is recorded shall be conclusive proof of the genuineness and accuracy of the transaction.
6.3 Rights and Obligations of the Customer
- The Customer can link UPI enabled bank account in the digibank app. Every such UPI enabled bank account shall have distinct VPA.
- The Customer can issue Payment Orders from any UPI Linked Account/s, for execution by DBS. The Payment Order shall be issued by the Customer, in the form as prescribed by DBS, which is complete in all particulars. The Customer shall provide correct beneficiary details to DBS at the time of availing the UPI Facility. The Customer shall be bound by Payment Orders executed by DBS in good faith and in compliance with Customer instructions.
- The Customer shall be solely responsible for accuracy and authenticity of the instructions given and/or entries made in the digibank app while using UPI Facility. The Customer shall ensure that all the instructions/Payment Orders are in the form and manner specified by DBS. Any liability arising out of incorrect entry/ies shall rest solely with the Customer. The Customer shall be liable to and agrees to indemnify DBS for losses arising due to error in the Payment Order.
- The Customer authorizes DBS to act as a PSP and debit UPI Linked Account(s) with DBS as per Payment Orders/Customer instructions.
- The Customer shall ensure availability of funds in Customer’s UPI Linked Account(s) towards the fulfilment of the Payment Order before or at the time of the issuing Payment Order. The Customer shall not give any debit instructions in excess of funds available in the relevant UPI Linked Account. If DBS at its own discretion processes the transaction instruction, inspite of insufficient funds in the UPI Linked Account/s with DBS, then, the Customer shall be liable to immediately pay to DBS the amount paid by DBS to process the Payment Order/s.
- The Customer agrees that the Payment Order shall become irrevocable when it is issued.
- The Customer has the right to delete his VPA from the digibank app at any time. The Customer agrees that once the VPA is deleted, the customers cannot perform any transaction linked to the relevant VPA.
- The Customer agrees to pay such fees and charges as may be specified by DBS from time to time for availing UPI Facility.
- Illegal or improper use of the UPI Facility shall render the Customer liable for payment of financial charges as may be specified by DBS including suspension of UPI Facility by DBS.
6.4 Rights and obligations of DBS
- DBS shall execute a Payment Order issued and duly authorised by the Customer, unless: (a) the funds available in the UPI Linked Account(s) of the Customer are not adequate or funds are not properly applicable/available to comply with the Payment Order (b) the Payment Order is incomplete/ambiguous or it is not issued in the agreed form, (d) DBS has reason to believe that the Payment Order is issued to carry out an unlawful transaction (e) the Payment Order cannot be executed under the UPI System or (f) certain documents/information requested from the Customer are pending to be received.
- No Payment Order issued by the Customer shall be binding on DBS until DBS has accepted it.
- DBS shall, for execution of every Payment Order, be entitled to debit the Account(s) of the Customer, with the amount of the funds to be transferred together with applicable charges payable thereon.
- DBS shall make available a record of last 100 transactions done using the UPI Facility in the digibank app for reference.
- DBS for providing the UPI Facility to the Customer shall follow the Guidelines and more specifically process prescribed by NPCI in this regard including but not limited to process for settling of timed out transactions within the time limit prescribed by NPCI.
- DBS shall have the right of set-off and lien, irrespective of any other lien or charge, present as well as future on the deposits held in the Account(s) or any other account with DBS, to the extent of all outstanding dues, whatsoever, arising as a result of the UPI Facility extended to and/or used by the Customer.
- DBS reserves the right to seek such documents or information from the Customer as deemed fit, before acting on any instruction of the Customer.
- If a Customer wishes to discontinue the use of UPI Facility, the Customer has the option to delete the VPA/s created.
- DBS may at any time, with or without prior notice, partially or entirely withdraw/suspend/terminate the provision of UPI Facility. DBS shall endeavour to intimate such action to the Customers as soon practicable.
- DBS has the right to suspend the transaction/s with respect to the UPI Facility if it has reason to believe that the Customer’s instruction/s is/are erroneous, improper, incomplete or will lead to or expose to direct or indirect loss to DBS.
6.6 General Terms
- Consent: The Customer authorises DBS to access all the Customer’s Account(s) and records for the purpose of providing the UPI Facility.
- Limitation of Liability: DBS will not be liable for delay in the completion of fund transfer instruction except where there is gross negligence attributable to its omission by DBS, or lack of due care, or fraud on the part of any employee of DBS. While DBS shall endeavour to promptly execute and process the transactions as proposed to be made by the Customer, DBS shall not be responsible for any non-response or delay in responding due to any reason whatsoever, including due to failure of operational systems or any requirement of law. The Customer understands and acknowledges that DBS does not represent, warrant, guarantee or assume any responsibility for the quality, sufficiency or delivery of any goods/services provided by any Merchant pursuant to Payment Order and DBS shall not be liable for any loss or damage caused arising from goods purchased or services availed by Customer/s from the Merchant/s. The Customer agrees to liaise with relevant Merchant for all grievances. DBS shall not be liable if it does not or is unable to stop or prevent the implementation of any erroneous instruction issued by the Customer.
- Indemnity: The Customer hereby agrees to indemnify and hold DBS, its affiliates, directors and officers harmless and indemnified against any action, suit, proceeding initiated against it or any loss, cost or damage incurred by DBS as a result of (a) incorrect entries/Payment order by the Customer (b) violation of these UPI Terms by the Customer or (c) failure of the Customer to ensure sufficient balance in the Account for processing the instruction.
7. Rates and Fees
Account Interest Rates per annum
|Balance up to Rs. 1 lakh will get 4% interest rates*||No interest rates applicable|
|Any balances over and above Rs. 1 lakh and up to Rs. 2 lakhs will get 7% on the incremental amount|
|Any balances over and above Rs. 2 lakhs and up to Rs. 5 lakhs will get 5% on the incremental amount*|
|Any balances over and above Rs. 5 lakhs will get 4% on the incremental amount|
- *Interest rate revised as above w.e.f. 1st February 2020.
- *Interest rate up to 31st January 2020 is: 5% p.a on balance upto Rs. 1 lakh and 5.5% p.a on balance of above Rs. 2 lakhs and upto 5 lakhs.
- Interest will be paid at quarterly rests or on any other rests as the Bank may decide from time to time.
- Interest will be calculated on daily available balance or as required by the regulator or as a result of banks own decision.
- Rate of interest on digiSavings is subject to change from time to time at the discretion of the Bank and/or in accordance with directives from RBI.
Deposit Interest Rates
Rates w.e.f. 19th February, 2020
|Fixed Deposits||Recurring Deposits|
|91 to 180 days||5.5%||5.5%|
|181 to 269 days||6%||6%|
|270 to less than 1 year||6.25%||6.25%|
|1 year to 375 days||6.25%||6.25%|
|376 days to less than 2 years||6%||6%|
|2 years & less than 2 years 6 months||6%||6%|
|2 years & 6 months||6%||6%|
|2 years 6 months 1 day & less than 3 years||6%||6%|
|3 years and less than 4 years||6.25%||6.25%|
|4 years to less than 5 years||6.25%||6.25%|
|5 years and above||6.25%||6.25%|
To book a deposit for tenure less than 90 days, please visit the nearest DBS Branch.
|Account closure (within 6 months of opening)||500||–|
|Debit card replacement (lost, stolen, damaged)||150||–|
|Debit card annual fee (second year onwards)||150||–|
|International cash withdrawal||125||–|
|International balance enquiry/non financial transactions||25||–|
|Domestic cash withdrawal on non-DBS ATMs||20 (chargeable after first 5 free transactions p.m.)||–|
|Domestic balance enquiry/non financial transactions on non-DBS ATMs||8.5(chargeable after first 5 free transactions p.m.)||–|
|Ad hoc balance/TDS/interest certificates||75||–|
|Ad hoc issuance of miscellaneous certificates||75||–|
|Investments in Mutual Fund through digbank – Transaction Fees*||Nil||–|
All monetary values given in Indian Rupees unless otherwise specified.
Fund Transfers Fees
|Credit to DBS or digibank account from an overseas bank||25||–|
|Credit to DBS or digibank account from DBS Singapore||25||–|
|Cashier’s order/payment order/payable at par demand draft||30||–|
|Revalidation/reissuance of payment order/demand draft||30||–|
|Cancellation of DBS payment order/demand draft||100||–|
All monetary values given in Indian Rupees unless otherwise specified.
Demand Draft (DD) Issuance Fees
|At an RBI location||0.05%||Min. 75 |
|Non-RBI location (correspondent bank Cat I)||0.05%||Min. 75 |
|Any other location not covered by the correspondent bank – purchase||0.05%||Min. 75 |
|Cancellation of correspondent bank DD||0.05%||Min. 75 |
|Revalidation/reissuance of DD – per instruction||0.05%||Min. 75 |
|Stop payment for lost DD – per instrument||25||–|
|DD issuance in foreign currency||0.10%||Min. 75 |
|Cancellation of foreign currency DD||750||–|
|Remote location payment – payable at correspondent bank location||30||Plus courier charges, if any|
All monetary values given in Indian Rupees unless otherwise specified.
- Interest will be paid at quarterly rests or on any other rests as the Bank may decide from time to time.
- Interest will be calculated on daily available balance or as required by the regulator or as a result of banks own decision.
- Rate of interest on digiSavings is subject to change from time to time at the discretion of the Bank and/or in accordance with directives from RBI.
- Goods and Service Tax (GST) will be levied by the bank over and above the charges.
- The bank reserves the right to change these rates/charges or re-negiotiate them depending upon relationship of a customer.
- * Please go through the Bank’s website www.dbs.com/in for the updated commission structure payable to the Bank by AMCs for different competing schemes of various Mutual Funds.
Remittances Fees and Charges
Please note below charges for online outward remittance / overseas transfer for following currency and country combinations.
|Currency and Country||Bank Fee||Agent Fees||GST#|
| ||Free||Not applicable||As applicable from time to time, will also be applied to your transaction|
|Any other currency / country combination||INR 500||Agent fees, if applicable, will be charged*|
*Please note that there may be additional charges levied by intermediary or correspondent bank in some cases.
#GST (Goods & Service Tax) will be levied on the converted gross INR amount. This charge would be deducted from the amount to be paid to the beneficiary. Please find below slab wise GST structure and GST calculation for reference.
|Gross amount of currency exchanged||Derived Value on which GST will be charged||GST on derived Value (for rate@ 18% w.e.f July 1, 2017)|
|Up to INR 100,000||1% of gross amount exchanged, subject to minimum amount of INR 250||INR 180 (For exchange amount of INR 1,00,000)|
|From INR 100,001 to INR 10,00,000||INR 1,000 for Exchange amount of INR 1,00,000 plus 0.5% on remaining amount exchanged||INR 990 (For exchange amount of INR 10,00,000)|
|Above INR 10,00,000||INR 5,500 for Exchange amount of INR 10,00,000 plus 0.1% on remaining amount exchanged, subject to maximum of INR 60,000||INR 1,170 (For exchange amount of INR 20,00,000)|
In case a payment is returned / rejected by the beneficiary bank, the return charges including correspondent banking charges, as applicable, will be levied and amount, net of these charges, will be credited back to your account at prevailing exchange rate.
Other charges - Some banks may apply a Tracer fees. If payment tracer is requested by the customer, applicable charges, will be applied by the intermediary or correspondent Bank / partner.