Following are the terms, conditions and rules ("T & C"), subject to which the Registered User as defined below can avail of the Click2Remit facility (“Facility”) offered by the Bank as defined below, to the visitor, as defined below. These T & C are in addition to the other terms and conditions relating to the Facility, if any.  Product, deposit accounts, nostro account, lines of credit, trade finance activities, clearance and collections activity, etc., that may be appearing elsewhere on this Website as defined below or otherwise now or hereafter agreed or deemed to be agreed to by the Registered User. The T & C may be read as a stand-alone document or may be read with such other documents as may apply to a particular service, situation, circumstance, or transaction.

The Visitor/Registered User acknowledges and agrees that the Bank may at its sole discretion add to, modify or amend the T & C (including the Charges) from time to time without any prior notice. Unless otherwise specified by Bank, all additions, modifications or amendments shall take effect and be binding on and from the day they are posted on the Website. Before accessing or using the Website or Facility, Visitor or Registered User should review the T & C for any additions, modifications or amendments. If the Visitor does not agree to the alterations, additions or deletions to the T & C or disagrees with any material on the Website, the Visitor or Registered User should discontinue accessing or using the Website or any Facility (other than those which have already been availed of prior to such alterations, additions or deletions). By continuing to access or use the Website or any Facility offered on the Website, the Visitor or Registered User will be deemed to have agreed to accept and be bound by such modified T & C.

The Visitor/Registered User agrees that the Bank is required to abide by the rules and regulations of the government or self-regulatory bodies by which the Bank is governed and/or to which the Bank is or maybe affiliated and the Registered User may also be required to abide such rules and regulations.

The Registered User agrees that use of this Facility is subject to the rules and regulations introduced or amended from time to time by the Reserve Bank of India (“RBI”) or any other authority relating to the facility or the different products/services offered under this Facility.

The Visitor/Registered User must accept and agree to abide by the T & C before accessing or using the Website or  the Facility. In the event that these T & C are not acceptable, the Visitor/Registered User shall not access or use this Website or any pages thereof and shall not use the Facility.

By clicking on "I Agree" it will be deemed that the T & C have been read and understood and that the Visitor/ Registered User agrees to accept and abide by the T & C.

DEFINITIONS

All the capitalized words and phrases have the meaning stated hereunder unless indicated otherwise or as defined below:

  • "Alerts" mean messages relating to various matters electronically sent to the Registered User, which are triggered by occurrence of certain events in respect of the Facility.
  • "Alliance Partner" means any person (other than Bank) including Correspondent Bank or who displays content or offers any Facility on the Website.
  • "Assistance Via Phone" means the assistance that may be provided, at the discretion of the Bank, either by itself or through a Service Provider over the phone, in connection with the Website and the Facility and/or any transactions entered into or proposed to be entered into by the Visitors/Registered User in respect of such Facility .
  • "Bank" shall mean Kotak Mahindra Bank Limited, which is an Indian company incorporated under the Companies Act, 1956, and licensed as a bank under the Banking Regulation Act, 1949, having its registered office at 27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051, and its branches, their successors and assigns.
  • "Beneficiary" means the individual person situated in India to whom or to whose account the funds are remitted through the Facility, through any of the modes specified, by the Registered User or in whose favour the demand draft is issued through the Facility by the Registered User.
  • "Correspondent Bank" means and includes other banks which extend to the Bank certain services including but not limited to maintenance of a nostro account, extending lines of credit, facilitating undertaking of trade finance activities, extending clearance and collections activity; and also includes other banks or any company which extends its facilities to the Bank to provide Facility to the Registered Users, whether in India or abroad.
  • "Facility" includes the facility made available through a web enabled technology platform, at the sole discretion of the Bank, to all or some of the Registered User or Registered User located in specified locations, to remit money to Beneficiaries in India through using the modes specified by the Bank from time to time including but not limited to:
    • Direct Transfer (ACH or equivalent)
    • Bank Transfer (Net Banking)
    • Wire Transfer
    • To create a Term Deposit in India with the Bank or
    • For any other specified purpose as may be indicated by the Bank from time to time.
  • Delivery Modes - Remittances can be delivered to Beneficiaries in India through the following modes:
    • Direct credit to the Bank account
    • Direct credit to Other bank accounts in India through Interbank transfer
    • Demand Draft Delivery
    • Credit Card Payments via NEFT
  • The Facility includes following facilities made available at the sole discretion of the Bank to all or some of the Registered User located in specified locations, such as:
    • Setting up Standing Instructions using ACH, allowing the Registered User to remit funds on pre-specified dates or pre-specified intervals;
    • Tracking the status of remittance from time to time;
    • Reminder facility which provides the Registered User with the option of setting Alerts for reminding the Registered User of some festive seasons or personal / family occasions (or any other dates) on which the Registered User could effect the remittance.
  • "Force Majeure” includes fortuitous event, fire, floods, storm, explosions, earthquake or any other acts of God, any acts of the government /semi-governmental/local authority including laws, decrees, ordinances and governmental regulations affecting the business of the Bank, civil disturbances, wars, war like situations, terrorism, riots and insurrections, acts of public enemy, strikes and lockouts, transportation stoppages or slowdowns.
  • "Registered User" means any Visitor who has registered with the Website to avail of the Facility.
  • "Registered User ID" / “User ID” shall mean the email ID of the Registered User chosen by him and registered with the Website for access to the Website and availing of the Facility. The Registered User is entitled to have only one User ID at any given point of time.
  • "Registered User Password" / “Password” means the password that is chosen by the Registered User and registered with the Website for access to the Website and availing of the Facility. The Registered User is entitled to have only one Password at any given point of time.
  • “Service Provider” means any person (not an Alliance Partner), who provides a service to Bank to enable the Bank to operate and/or maintain the Website, provide any feature thereon or provide any Facility.
  • “Sub-dollar Account Transaction” is a transaction for verification and comprising of two credits and one debit for a value less than a dollar. This is an automated transaction initiated by the Bank to be effected by the Click2Remit system when the customer registers for Click2Remit, for the purpose of authentication that the customer has access to the account for which he has applied for the said Direct Transfer (ACH). The customer is required to verify these amounts from his account statement and enter the same in the Click2Remit system. Verification will be carried out for the same online and the customer will be registered for Direct Transfer (ACH).
  • “T & C” shall mean Terms and Conditions relating to the Facility as may exist now and as may be amended from time to time and includes all rules and regulations prescribed by the Reserve Bank of India (“RBI”) and any other authority from time to time and all terms and conditions relating to each banking product/service as may exist now and as may be amended from time to time.
  • “Technical Snags” includes any problems and difficulties arising due to routine maintenance requirements, excess demand, power and electricity failure, computer errors, programming errors, software or hardware errors, computer breakdown, Internet or network failure, faults in the telecommunications network, non-availability of Internet connection, communication problems between the Bank's server and Visitor/ Registered User's computer network, shutting down of the Bank's server or Website, non-availability of communication links, corruption of the computer software, snags in the service providers infrastructure and telecommunication network, and arising due to any other technology related snags; any problems and difficulties for any reasons whatsoever including but not limited to natural calamity, floods, fire and other natural disasters, legal restraints or any other problem or difficulty beyond the control of the Bank.
  • "Visitor" means any person who accesses or visits the Website, whether or not such person has registered himself as a Registered User and includes every Registered User.
  • “Website” means the website of the Bank and includes the pages of the Website and any applets, software and content contained in the Website.

WEBSITE

  • The Website primarily facilitates the display and offering of the Facility on a no-liability and no-obligation basis. Information and Facility may be displayed and offered in a phased manner at the discretion of the Bank. Bank may at its sole discretion, introduce new information to the Facility and add to, modify, suspend or withdraw any information or Facility or any terms thereof in whole or in part without any prior notice.
  • The Bank has the right (but not an obligation) to monitor the functioning of the Website from time to time and to disclose any information as necessary or appropriate to satisfy any law, regulation or other governmental request, to operate the Website or to protect itself or its Service Providers, Alliance Partners, Correspondent Banks, or Visitors/Registered Users.

ELIGIBLE USERS

  • The Facility is offered only to the individual visitors and by offering Facility on the Website. Bank is not attempting to offer or provide facilities to any other persons or entities.
  • The Registered User must be of at least 18 years of age, of sound mind and otherwise eligible to enter into legally binding contracts under applicable law. If the Visitor does not qualify to be the Registered User, he should immediately cease to access or use the Website or the Facility.
  • The Facility shall be made available only to the approved Registered User. The Bank reserves the right to approve or reject the application for any Visitor. The Registered User hereby agrees that the Registered User shall not have more than one (1) User ID and/or Password.
  • In order for a Visitor to use the Facility, the Registered User may have to agree to other terms and conditions in addition to these T & C and may also have to execute agreements, powers of attorney and other writings and abide by the procedures, in the manner prescribed by the Bank.

ACCESS

  • Only limited access to the Website is available to Visitors who are not Registered Users. To obtain increased access to the Website and in order to make full use of the Facility the Visitor is required to register on the Website as a Registered User.

REGISTERED USER ID AND PASSWORD

  • At the time of registration for the Facility the Registered User shall select and set his or her own User ID and User Password.

PROCEDURE FOR CREATING THE PASSWORD

  • The Registered User shall be required to create a Password.
  • The Registered User is then required to enter answers for 3 hint questions. This is so that in case the Registered User forgets the Password, any one of these questions has to be answered to regenerate the Password.
  • Registered User agrees and acknowledges that he shall be solely responsible for maintaining the secrecy of the User ID and Password. Registered user must comply with any other requirements indicated by the Bank to protect the security of the system through which the Registered User accesses/uses the Website/ Facility. The Registered User agrees and accepts that in the event of any loss or damage incurred by the Registered User by reason of sharing/compromise of the password, the Registered User shall be solely responsible for the consequential loss or damage and the Bank shall not be held responsible or liable for the same.
  • To ensure that the Registered User alone is able to access and give instructions through the Website/ Facility, the Registered User must all times comply with the following security procedures: (i) Change of User ID / Password regularly or as required by the Bank; (ii) not choose a User ID / Password, which the Registered User has used before or which is likely to be guessed by anyone; (iii) safeguard the User ID / Password at all times and not disclose any details of the User ID / Password to anyone else including a member of the Bank staff; (iv) not  record User ID / Password in a way whereby it will be legible or accessible to any third party; (v) memorize User ID / Password and destroy any record of it; (vi) not allow anyone to operate the Facility on the Registered User's behalf; (vii) not leave any system unattended while logged on to the Website / Facility and log-out from the Website / Facility when not using the Website/Facility; (viii) not access the Website / Facility from any equipment or device connected to a local area network (or LAN), such as an office environment, without first ensuring that no one else is able to observe or copy the User ID / Password. The Registered User shall indemnify the Bank if any loss is suffered by the Bank due to failure to comply with the above security procedures.
  • If Registered User discovers or suspects that the User ID / Password or any part of them are known to someone else, the Registered User must immediately change the User ID/ Password through the Website. If this is not possible, Registered User must notify the Bank immediately through the phone banking service or Assistance Via Phone. The Registered User agrees and acknowledges that the Bank will able to take the necessary steps only on the next business day as per the Indian Standard Time.
  • Loss of User ID/ Password: If the Registered User forgets or loses the User ID /Password a new User ID/ Password will be selected and set by the Registered User through the Website if the Registered User correctly responds to the hint questions. However, the Registered User shall be responsible and liable for all transactions that are carried out by the use of the old Password until the Bank has received notification from the Registered User that the old password has been compromised. The Bank shall not be liable for any consequences if Bank and/or Website declines to furnish the new User ID/ Password by reason of it not being satisfied as to the Registered User's identity.
  • Any transaction or activity originated by use of the User ID and/or Password shall be deemed to be the transaction or activity originated by the Registered User and the Bank shall not be required to verify the authenticity of any such transaction or activity or origination of the same. The Bank shall not be responsible for any mistake or error made by the Registered User in keying in the nature of the transaction / activity or any facts or figures.
  • Notwithstanding anything stated elsewhere in the T & C and despite correct use of the User ID / Password, the Bank may in its sole discretion (but shall not be bound) seek offline and/or additional written or other confirmation from the Registered User of any instruction, transaction or activity.
  • The Bank reserves the right and discretion to permit the use of digital signatures using the Public Key Infrastructure System as provided for under the Information Technology Act, 2000 (or other applicable law), as per Bank's policy or as and when the law authorizes and technology facilitates such use.  In such an event the Bank shall have the right to require the Registered User to communicate instructions and authorize and execute transactions and other activities by means of such secure electronic records and secure digital signatures in addition to, or in place of, the use of Password(s) and the Registered User shall to all such acts as may be required to access the Facility.

REPRESENTATION AND WARRANTIES OF THE VISITOR / REGISTERED USER

  • Visitor / Registered User represents and warrants that:
    (i) the Registered User has the authority and/or is lawfully entitled to accept the T & C and is not under any disability, restriction or prohibition which shall prevent the Registered User from performing or adhering to any obligations under the T & C;
    (ii) the execution of the T & C or any part therein is not, directly or indirectly, in conflict with any other agreement or document that the Registered User has executed or entered into;
    (iii) there are no liabilities against, relating to or affecting the Registered User, which individually or in aggregate, are material to the business of the Bank;
    (iv) the personal information provided by the Registered User to the Bank at the time of registration is true and accurate and any other information provided thereafter shall be true and accurate; or
    (v) there are no legal proceedings, or injunctive or stay orders pending against or likely to arise against the Registered User that may violate the T & C or materially affect the  fulfillment of these T & C.

CONDUCT OF VISITORS, REGISTERED USERS

  • The Visitor/ Registered User shall not:
    (i) make any attempt to hack into the Website or otherwise attempt to subvert any firewall or other security measure of the Website and if the Visitor/Registered User becomes aware of any shortcoming in the security on the Website the Visitor/ Registered User shall forthwith inform Bank of the same;
    (ii) restrict or inhibit any other person from accessing, using the Website / Facility;
    (iii) use the Website for any unlawful purpose;
    (iv) post or transmit any libelous, defamatory, obscene, pornographic, fraudulent, threatening, hateful, offensive, or otherwise illegal, unlawful or objectionable information or statement of any kind;
    (v) post or transmit any advertisements, solicitations, chain letters, pyramid schemes, investment opportunities or schemes or other unsolicited commercial communication (except as otherwise expressly permitted by the Bank) or engage in spamming or flooding; or
    (vi) post or transmit any information or software which contains viruses or other harmful component.

GENERAL TERMS OF THE FACILITY

  • It shall be the sole responsibility of the Visitor/ Registered User to verify whether the Website and the Facility can be legally accessed and utilized in their respective jurisdictions.
  • Bank will endeavor to adhere to the time schedule indicated by it on the Website at the time of receiving the remittance instructions. However, Bank will not be responsible or liable for non-provision of any Facility or any part thereof, changes in the time schedule or delays in remittance or execution of the Registered User's instructions for any reason including due to the act or omission of the Alliance Partner or the Correspondent Bank or due to incorrect information provided by the Visitor / Registered User. The Registered User should use the Facility provided by Bank only if the Registered User is agreeable to the above.  The usage of the Facility shall be deemed acceptance of this condition.
  • The Registered User hereby agrees that Bank has no control over when the Beneficiary's financial institution makes such funds available for the Beneficiary's use and Bank shall not be responsible for any delay or default on the part of such financial institution.
  • The Registered User hereby agrees that, where Bank so deems advisable or necessary, Bank may hold back or delay the remittance of funds for a period longer than the time required for remittance in the usual course of business. The Bank shall not be liable for any loss or damage that may be suffered by the Registered User or any third party due to such delay.
  • While Bank endeavors to post accurate and updated information on the Website, the Registered User shall verify the same before taking any action or entering into any transaction.
  • The Registered User may be required to provide such information as may be indicated by the Bank. The Registered User is responsible for the correctness of information supplied to the Bank. The Bank shall have the right to, and the Registered User hereby authorizes Bank (by itself or through third parties) to verify any information provided by the Registered User. If the Registered User has reason to believe that there is an error in the information furnished to the Bank, the Registered User shall immediately advise the Bank in the manner indicated by the Bank. The Bank shall not be liable for any consequences arising out of erroneous misleading, incorrect, untimely or incomplete information furnished by the Registered User.
  • The Registered User agrees that the Bank shall levy such charges as may be indicated by the Bank for provision of the Facility and such charges shall be posted on the Facility website. The Bank charges for the Facility shall not include the remittance charges, if any, levied by the remitter overseas bank.
  • If the Registered User chooses to have the charges deducted from the account with the Bank but does not have an account with the Bank or there are insufficient funds in the said account, then the charges will be debited from the remittance amount and the Registered User hereby gives his consent for the same.
  • The Bank may levy charges in respect of the issuance of the Foreign Inward Remittance Certificate (FIRC) or any other proof of remittance to the Beneficiary.
  • Bank at its sole option and discretion shall maintain or destroy or caused to be maintained by Bank through its or a third party's computer systems or on tape or other recording or storage device or otherwise such records of access, instructions, transaction in respect of the Facility and other activities, as the Bank may deem fit or as mandated by applicable law.
  • Bank shall be entitled, in its sole and absolute discretion, to refuse to comply with all or any of the instructions received from the Registered User without assigning any reason. The Bank shall not be liable for any loss or damage that may be caused to the Registered User or any third party due to such refusal.
  • The Registered User cannot cancel any instructions once communicated, except as specifically provided on the Website. Such instructions or transactions will only be cancelled if the Registered User's request for cancellation is received and acted upon before the instruction or transaction has been executed, if the funds have not been passed on to the Beneficiary, and are still in the control of the Bank.
  • In case of transaction reversals/returns for any mode of delivery, Bank personnel shall use commercially reasonable efforts to contact the Registered User and the Registered User will be requested to provide modified instructions for the transaction in question. However, if the Registered User is cannot be contacted and/or the Bank does not receive modified fresh remittance instructions for the transaction in question, the Bank shall have the right to send the funds back to the Registered User's remitting account after deducting any applicable reversal/return charges.
  • Registered User must take all reasonably practicable measures to ensure that the Registered User's system or any computer or other equipment or device from which the Registered User accesses the Facility is free of any computer virus or similar software/device including, without limitation, devices commonly known as software bombs, Trojan horses and worms (“Viruses”) and is adequately maintained and secured in every way. Though the Bank will take steps to prevent introduction of Viruses and other such destructive materials on the Bank's Website, it does not represent, warrant or guarantee that the Bank's Website or the content downloaded from the Bank's Website or linked Websites do not contain such Virus or destructive materials. Bank is not liable for any damage or harm attributable to such virus or destructive materials. The Bank does not warrant that the Bank's Website or functions thereof will be uninterrupted or free of any error or defect.

SPECIFIC TERMS OF THE FACILITY

  • The Facility shall be subject to the relevant regulatory approvals, terms and conditions imposed while granting the necessary approvals and the T & C.
  • The Registered User shall remit funds as per the instructions stated on the Website through any one of the modes as may be indicated by the Bank from time to time, at its sole discretion, including but not limited to via Wire Transfer, Bank Transfer and Direct Transfer (ACH).
  • The Registered User acknowledges and agrees that before allowing the Registered User's use of the Facility through the Direct Transfer (ACH) mode, the Bank or the Correspondent Bank shall be entitled to carry out the verification of the Registered User through a sub dollar transaction in respect of the Registered User's specified account at the depository financial institution (“Depository”). The Registered User shall be entitled to use of the Facility through ACH mode only if the Registered User enters the correct amounts of the sub-dollar transaction on the remittance application.
  • Upon any new User ID/Password being adopted by the Registered User for any reason whatsoever the Bank or the Correspondent Bank shall be entitled to carry out a new verification of the Registered User through a sub dollar transaction in respect of the specified account at Depository, on the Registered User's choosing to utilize the Facility through ACH mode through the new User ID / Password.
  • The Registered User acknowledges and agrees that the Bank is entitled to debit and credit entries to the Registered User's specified account at the Depository and to debit the same to such account. Registered User acknowledges that the origination of ACH transactions to the Registered User's account must comply with the provisions of the governing law.
  • The Registered User shall be entitled to use the Facility through ACH mode only from the Registered User's own account or through the account where the Registered User has a right to debit that account.
  • Remittance through any mode of payment of the foreign currency by credit card will not be accepted.
  • Registered User's access to Facility / User ID/ Password will be disabled if the incorrect User ID and/or Password is entered successively three times (or such number of attempts as decided by the Bank from time to time ) or if the Registered User does not log in for a period of 6 months to use the Facility. To reactivate the access to the Facility / User ID / Password, the Registered User shall request to the Bank in the manner specified by the Bank. Upon receipt of such request the Bank may in its sole discretion either reactivate the Facility / User ID / Password or request the Registered User to re-register for the Facility.

LIMITS AND DELIVERY TIMELINES

The limits are defined at various levels
1. User level Limits
2. Transaction Limits
User Level Limits are defined for each Remittance Mode for each currency and period. Bank has the right to set or modify the limits referenced below. Current currency and mode wise limit is below.

Direct Transfer

USD

Minimum per transaction

USD 100

 

Maximum amount per transaction per day

USD 5,000

 

Maximum amount per week

USD 15,000

 

Maximum no. of transactions per weekq

5

 

Maximum amount per month

USD 20,000

 

Maximum no. of transactions per month

12

Wire Transfer

 

Min per transaction

Max per transaction

USD

100

500,000

GBP

100

500,000

EUR

100

500,000

CAD

100

500,000

SGD

100

500,000

AUD

100

500,000

AED

100

500,000

CHF

100

500,000

JPY

10,000

20,000,000

Bank Transfer

GBP

100

50,000

EUR

100

50,000

SGD

100

50,000

Transaction Level Limits are defined at Bank Level or User Level for each Remittance Mode for Period and currency. - Volume and Value

Delivery Timelines:


Mode

Credit to KMB accounts

Credit to non KMB accounts

Credit Card Payment

Demand Draft Delivery

Direct Transfer

5 working days after instructions have been received by us from the Overseas Bank.

5 working days after instructions have been received by us from the Overseas Bank, however final credit is dependent on Receiver bank's timelines generally within 1 working days.

5 working days after instructions have been received by us from the Overseas Bank, however final credit is dependent on the card issuing bank's timelines generally within 3 working days.

5 working days after instructions have been received by us from the Overseas Bank and the DD shall be dispatched to the beneficiary by courier which takes about 1-4 days.

Bank Transfer

2 working days after instructions have been received by us from the Overseas Bank.

2 working days after instructions have been received by us from the Overseas Bank, however final credit is dependent on Receiver bank's timelines generally within 1 working days.

2 working days after instructions have been received by us from the Overseas Bank, however final credit is dependent on the card issuing bank's timelines generally within 1 working days.

2 working days after instructions have been received by us from the Overseas Bank and the DD shall be dispatched to the beneficiary by courier which takes about 1-4 days.

Wire Transfer

2 working days after instructions have been received by us from the Overseas Bank.

2 working days after instructions have been received by us from the Overseas Bank, however final credit is dependent on Receiver bank's timelines generally within 1 working days.

2 working days after instructions have been received by us from the Overseas Bank, however final credit is dependent on the card issuing bank's timelines generally within 1 working days.

2 working days after instructions have been received by us from the Overseas Bank and the DD shall be dispatched to the beneficiary by courier which takes about 1-4 days.

  • Exchange Rate Terms and Conditions :
    • Guaranteed Rate Transfers (Wire Transfer and Bank Transfer): The use of this facility is subject to the transaction limits on the value and volume of transactions as decided by Kotak Mahindra Bank. The bank may change these limits at its own discretion. The bank may temporary suspend this service without any notice. The bank shall in no way be held responsible and/or liable for any rejections, queries or delays arising due to the temporary unavailability of this Facility.
    • Guaranteed Rate on a transaction is applicable only if the Bank receives the exact foreign currency amount to be transferred on or before the Expected Date of credit with complete and correct details of the beneficiary. In case the funds are not received by the bank within the Expected Date of credit, the transaction would be processed as an indicative rate transaction and the rate as applicable at the date and time of the conversion of the funds will be applied to the transaction. The guaranteed rate will not be valid for transactions where the funds are received after the Expected Date of credit as indicated during the initiation of the transaction.
    • For the purpose of this clause Expected Date of credit shall mean the date when the funds are available to Kotak Mahindra Bank, for further processing and disbursal to the beneficiary. Please note that when Kotak Mahindra Bank's correspondent bank receives the funds within the clearing cycle in the remitting country, the funds are made available to Kotak Mahindra Bank for further processing on the next working day along with all relevant details required for processing. Kotak Mahindra Bank will not be responsible or liable for any delays in receiving the funds for any reason including due to the act or omission of the Correspondent Bank, overseas clearing delays, clearing holidays or due to incorrect information provided by the Registered User.
    • Guaranteed Rate Transfers (Direct Transfer): The use of this facility is subject to the transaction limits on the value and volume of transactions as decided by Kotak Mahindra Bank. The bank may change these limits at its own discretion. The bank may temporary suspend this service without any notice. The bank shall in no way be held responsible and/or liable for any rejections, queries or delays arising due to the temporary unavailability of this Facility.
    • For Direct Transfer transactions initiated under Guaranteed Rate, the Guaranteed Rate would be applicable irrespective of the date of processing of the transaction. Under unavoidable circumstances the date of processing of the transaction would differ from the expected date of credit displayed during initiation of the transaction. These circumstances can include technical errors, system failures and acts of God and the Bank shall not be liable for such delays. In such an event, the Registered User shall not be able to take advantage of any favorable foreign exchange rate fluctuation. The conversion rate shall be the guaranteed rate opted by the Registered User and he cannot hold the Bank anyway responsible or liable for the same.
    • Indicative Rate Transfers: For Indicative rate transfers the foreign exchange conversion rate displayed while initiating of the transaction is only indicative to help the Registered User to arrive at an approximate Indian Rupee ("INR") amount that the beneficiary will receive. However, it in no way guarantees or represents the foreign exchange conversation rate that will actually be applied to the transaction. Bank will apply the prevailing rate on the date and time of the conversion of the funds to the transaction.
  • Bank will remit the funds into India only after it has received a confirmation that such foreign currency has been received in its account.
  • Insufficiency of funds: If it comes to the attention of Bank that the Registered User had insufficient funds in the account from which the Registered User requested the remittance of money, Bank may cancel the requested remittance transaction and the Registered User shall bear full liability and responsibility for the same and the Registered User shall also bear the charges/fees charged by the Bank. However, if the Bank learns about the insufficiency after the beneficiary/recipient of the remittance has received the remittance, the Registered User will be liable to reimburse the Bank for the amount remitted and a non-sufficient funds fee of $ 5.00 USD. The Registered User agrees to pay to Bank such amount immediately upon Bank's demand along with interest at the highest amount permitted by the laws of the jurisdiction in which the Requested User resides, from the date of the remittance by Bank till the receipt of funds by Bank from the Registered User. The Registered User also agrees to pay for all costs associated with the recovery of amounts owed to the Bank, including reasonable attorney's fees and court fees.
  • Bank shall in no way be held responsible and/or be liable for any queries, errors, disputes or delays in messaging, money transmission, currency conversion, conversion rates offered, payment to the beneficiaries of the remittances or any other query, claim or dispute. The Registered User may contact the Bank Customer Care Unit to facilitate resolution of such queries, claims and disputes to the best of Bank's ability.
  • Bank may have more than one promotional offer in existence and applicable at any given time. However a customer shall be entitled to only one offer per transaction. It shall be entirely at the discretion of Bank to consider any exceptions to the above.
  • The Registered User will not be entitled to any interest for the period during which the funds to be remitted are with Bank, or pending remittance or are in the course of remittance, or for any other period.
  • The Visitor / Registered User hereby authorizes Bank to check his or her credit history at the time of and/or prior or subsequent to registration and to obtain follow-up credit reports relating to him.
  • The Registered User hereby agrees that the purpose of the remittances will be strictly for personal, family or household use. Trade or business related remittances or remittance for purchase of property or investment and other remittances not permissible under applicable law are not permitted and should not be effected through the Facility.
  • The Registered User confirms that the remittances are not meant for any purpose which is in conflict with any law in India, or elsewhere. The Registered User hereby agrees and undertakes that he shall not utilize the Facility for remitting any funds, which are obtained by illegal means or which are to be used for illegal purposes or for the purpose of money laundering.
  • Bank and/or its Service Providers shall endeavor to ensure that Alerts are communicated to the Registered User where the Registered User has agreed to receive such Alerts. However, neither Bank nor the Service Providers would be responsible or liable for non-dispatch or delay in dispatch of the Alerts by Bank and/or the Service Providers or any delay in receipt or non-receipt of the Alerts for any reason whatsoever. Bank and/or the Service Providers shall not be liable for any costs, damages or other amount whatsoever for such non-dispatch or delay in dispatch or any non-receipt or delay in receipt of the Alerts. Non-receipt of Alerts will not discharge or reduce the Registered User's liability to pay any amount to Bank which would have been payable in the event of proper receipt of the Alerts.

INTELLECTUAL PROPERTY

  • The Bank is the owner and/or authorized user of any trademark, registered trademark and/or service mark appearing on the Website,
  • The Visitor / Registered User acknowledges and agrees that all the intellectual property rights in the software underlying the Website, the Facility, and other software required for accessing or using the Website / Facility are the property of the Bank or its respective vendors. The permission given by the Bank to access and use the Website or Facility shall not convey any rights in the intellectual property of the software. The Visitor / Registered User shall not attempt to modify, translate, disassemble, de-compile or reverse engineer the above-mentioned software or copy the source code of the software or create any derivative product based on the software.
  • The Visitor / Registered User shall use any software provided on, by or through the Website only for the purposes for which it has been provided and for no other purpose.
  • The Bank is the owner or licensee of the content and/or information on the Website including but not limited to any text, images, illustrations and screens appearing on the Website. The Visitor / Registered User may not download and/or save a copy of the Website or any part thereof including any of the screens or part thereof and/or reproduce, store it in a retrieval system or transmit it in any form or by any means - electronic, electrostatic, magnetic tape, mechanical printing, photocopying, recording or otherwise or translate the same without the express permission of Bank (except as otherwise provided on the Website or in the T & C for any purpose) or use it in any manner that is likely to cause confusion or deception among persons or in any manner disparages or discredits Bank, Alliance Partners, Correspondent Bank or Service Providers. However, the Registered User may print a copy of the information on the Website for the Registered User's personal use or records.

CONFIDENTIAL INFORMATION

  • The Visitor / Registered User acknowledges and agrees that the Visitor/Registered User has read the Privacy Policy published on the Website and hereby confirms such agreement to the terms stated therein.
  • Bank will not intentionally monitor or disclose any private electronic-mail message received through the Website to any third party unless required by law.
  • The Registered User hereby agrees that the Bank shall be entitled to inform any credit bureau or any other person or entity if the Registered User fails to pay/reimburse any amount due to the Bank.
  • The Bank shall endeavor to take reasonable measures, which may include encryption, to ensure that the Registered User's personal information is not disclosed to any person except to the Bank, Alliance Partners, Service Providers, other persons to whom the information may be provided as per Bank's Privacy Policy and other persons specified by the Registered User. However, the Internet is an open system and Bank cannot, and does not, guarantee that the personal information, which the Registered User furnishes, will not be intercepted or accessed by others and decrypted. The Bank, the Alliance Partners and Service Providers shall not be liable or responsible should any confidential or other information provided by or pertaining to the Registered User (included credit card numbers, bank account numbers, passwords, personal identification numbers, IDs, transaction details, etc.) be intercepted and subsequently used by an unintended recipient.

INDEMNIFICATION

  • The Visitor / Registered User agrees to and shall indemnify and hold the Bank and each of the employee agents, consultants contractors, content providers or representatives of the Bank harmless against all actions, claims, liabilities, demands, proceedings, losses, damages, costs, charges and expenses including reasonable attorneys' fees and court/ adjudicating body costs whatsoever, which the Bank may at any time incur, sustain, suffer or be put to as a consequence of or by reason of or arising out of: (i) breach of the Visitor / Registered User‘s representations and warranties; (ii) improper use of the Click2Remit Facility by the Visitor / Registered User or any other person with its consent; (iii) breach by Visitor / Registered Use or any other person with his consent of any of the provisions of the T & C or any other agreement with the Bank; or, (iv) the Bank in good faith taking or refusing to take action on any instruction given by the Visitor / Registered User due to acts or omissions of the Visitor / Registered User, including but not limiting to: (a) Failure to intimate/inform the Bank when it suspects or knows that its Passwords are known to third parties or when third parties use its Passwords for carrying out unauthorized or illegal transactions; (b) Failure to keep confidential and secure the Passwords from third parties; (c) Failure to inform the Bank regarding any changes in its personal information; (d) Unauthorized or illegal access to the computer system/network and/or data of the Bank by using Visitor / Registered User 's Passwords; (e) Failure to comply with the governing law and law of the country of residence; (f) Failure to comply with the usage guidelines issued by the Bank in respect of the Click2Remit Facility as may be applicable at the relevant time; and (g) Failure to comply with these T & C and any agreement between the Bank and the Visitor / Registered User.
  • The Bank shall not be responsible or liable for any consequences arising out of the abovementioned situations.

LIMITATION OF LIABILITY

  • Bank shall not, under any circumstances, be responsible for any loss suffered due to any fraud or other actions of the Registered User or any third party.
  • The Bank shall take all care to provide secure and error free services to its Visitor / Registered User on best effort basis. The Bank shall not be liable or responsible for any damages, loss, harm, expense, liability and the like arising to the Visitor / Registered User or any third party for any reasons whatsoever whether attributable to the Bank or not.
  • Without prejudice to the above, the Bank shall not be liable to the Visitor / Registered User or any third party for any loss or damage suffered due to the following reasons: Any action carried on by the Bank in good faith, based upon the instructions of the Visitor / Registered User, by exercising due diligence, in good faith or taking reasonable care; Any unauthorized and illegal transactions occurring through the use of the Facility which can be attributed to the fraudulent or negligent conduct of the Visitor / Registered User and/or any third party; Intrusion or hacking into the computer systems/network or communication network of the Bank; Failure to carry out any instructions of the Visitor / Registered User due to insufficiency of balance in his account; Failure of the Visitor / Registered User to inform the Bank when the Facility is illegally availed of by third parties for carrying out any transaction; Failure of the Visitor / Registered User to keep confidential and secure, any User ID / Passwords; Failure to provide or provision of inaccurate, incorrect information by the Visitor / Registered User whether personal or in respect of any account or Facility; Any cancellation instructions not being/not being carried out or any delay thereof; Violation of any applicable law or breach of any of the T & C by the Visitor / Registered User or any other person with/ without the consent of the Visitor / Registered User; or any cause arising out of or related to Force Majeure or Technical Snags or for any reasons beyond the reasonable control of the Bank.
  • In the event that the Bank is held liable for any loss or damage to the Visitor / Registered User as a result of use of any Facility provided by the Bank, the Bank shall only be liable for direct loss or damage which, in the ordinary course of events, might reasonably be expected to result from the circumstances in question and only if such loss or damage is caused by Bank's gross negligence or willful default.  Moreover, notwithstanding any other provision in the T & C to the contrary, Bank shall not be liable for any incidental, indirect, remote, consequential, special loss or damage in this regard.

TERMINATION / DISCONTINUANCE OF THE FACILITY

  • The Registered User acknowledges and agrees that Bank may at its absolute discretion, suspend, terminate or discontinue, wholly or partially, the Facility without giving any notice to the Registered User and/or with/without  reason. Bank shall not be liable for any direct or indirect losses sustained by the Visitor/Registered User arising out of such termination or discontinuance.
  • The Registered User may request  termination of use of the Facility at any time by contacting the Bank customer care centre at the numbers available in the Website and making a request for de-registering from the Facility. The termination shall take effect on the completion of the fifteenth day from the date of receipt of the notice by the Bank.
  • The Registered User shall remain responsible for any transactions entered into by him and all obligations incurred by him until the time of suspension/ termination or discontinuance, as the case may be.

DISCLAIMER

  • The Website and the Facility do not constitute an offer or a solicitation of an offer to sell, buy, provide or procure any shares, securities or other instruments, products or services to or from any person in any jurisdiction;
  • The Bank does not, in any way, solicit or encourage the Registered User to use the Facility. Nothing provided on the Website should be construed as advice of any nature and the Registered User is advised to seek professional advice prior to taking any decision or action.

NOTICES

  • The Visitor / Registered User should communicate with the Bank only via the mode that is specified and in no other mode. Bank is not bound by communication received via any other mode. All communication whether in writing or otherwise shall be valid only if the same is sent in the format prescribed (if any) or approved by the Bank.
  • The Bank may give notice to the Visitor / Registered User by e-mail, letter, telephone or any other means, as Bank may deem fit, at the email address / address / telephone or at any other contact that has been provided by the Visitor / Registered User.

APPLICABLE / GOVERNING LAW

  • The Website, T & C, the Facility, all the transactions entered into on or through the Website, as well as the relationship between the Visitor/ Registered User and Bank and obligations of the Bank shall be governed by laws of India and guidelines as may be issued by RBI from time to time.  Should there be any dispute and/or  should any court of law question the applicability of the governing law and jurisdiction being India and  by reason of which the Bank is not able to initiate, continue with any dispute/proceedings/action etc. in connection with this agreement, than in such an event, the Bank shall be at liberty to initiate appropriate proceedings/action under the applicable law and jurisdiction, from where the Visitor/Registered User carried out the transaction and/or under any other applicable law and jurisdiction.
  • This Facility is offered subject to the applicable laws of any other country where the account of the Visitor/Registered User is maintained including the country from which the instructions for remittance of funds are given and it shall be the responsibility of the Registered User (and not that of the Bank) to ensure that the said laws are adhered to. In the event remittance instructions are given from a country other than the country where the account of the Visitor/Registered User is maintained, it shall be  the responsibility of the Registered User (and not that of the Bank) to ensure compliance of applicable laws of both the countries.
  • The Bank accepts no liability whatsoever, direct or indirect, for noncompliance with the laws of any country. The mere fact that the this Facility can be accessed through the Internet or by phone or mobile in a country other than India shall not be interpreted to imply that the laws of that country govern these T & C, and/or the access/ use of the Facility by the Visitor/ Registered User.

DISPUTE RESOLUTION

  • The Visitor/ Registered User agrees that it will, at all times, make all attempts to resolve all differences arising in respect of the Website, T & C, or any other agreement with the Bank by discussion with the Bank, failing which, by arbitration, provided that the arbitration shall be by a sole arbitrator, nominated by the Bank. In the event of death, refusal, neglect, inability or incapability of a person appointed to act as an arbitrator, the Bank shall appoint another sole arbitrator. The arbitration shall be conducted in accordance with the provisions of the Arbitration and Conciliation Act, 1996 and shall be conducted in English. The place of arbitration shall be Mumbai, India.  The Visitor/Registered User waives any objection to such proceedings on grounds of venue. Remedy of arbitration shall be resorted to by the Visitor/Registered User or the Bank unless the differences fall within the jurisdiction of the Debts Recovery Tribunal established under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, in which case the Tribunal will have the jurisdiction over the matter.
  • Notwithstanding the aforesaid provisions, in the event of any breach or threatened breach of the provisions of the T & C or any other agreement with the Bank by the Visitor/ Registered User, the Bank shall be entitled to (in addition to all other remedies) a court ordered injunction, restraining any such breach, without recourse to arbitration. The Bank has the right to bring /file a claim/complaint for injunctive relief in any competent court or judicial forum/local authority having jurisdiction.
  • In the event of any breach or threatened breach of the T & C or any other agreement with the Bank, by the Visitor/Registered User's authorized representatives/ employees or the respective agreements between them and the Visitor/ Registered User, the Visitor/ Registered User /shall cooperate with the Bank in such manner as may be required to restrain such breach, including the pursuit of all legal remedies.

MISCELLANEOUS

  • The Website, T & C, the Visitor / Registered User 's access to or use of the Website or Facility are not intended to create an agency, partnership, joint-venture or employer-employee relationship between the Visitor / Registered User on the one hand and the Bank, any Alliance Partner, Correspondent Bank or Service Provider on the other hand.
  • Visitor/ Registered User agrees that the Bank may sub-contract or employ or engage services of Correspondent Bank, Alliance Partner, Service Provider, agents, consultants, contractors, content providers or representatives to carry out any of the provisions of the T & C and provision of the Facility. The Bank has not conducted any investigation or due diligence in respect of, and makes no warranty for the Correspondent Bank, Alliance Partner, Service Provider, agents, consultants, contractors, content providers or the facilities provided by them. The Bank shall not be responsible for any error, negligent or fraudulent acts or omissions of such persons or any acts or omissions done outside the scope of their authority. Such persons may have their own agreements, terms and conditions, which will govern such services provided by them. The terms and warranties relating to such services may vary. It shall be the duty of the Registered User to obtain the full text of such terms and warranties from such persons. Where any Facility is provided by Bank itself, it is expressly mentioned on the Website.
  • Except as expressly provided in these T & C, no exercise, or failure to exercise, or delay in exercising any right, power or remedy vested in the Bank in respect of or arising out of these T & C shall constitute a waiver by the Bank of that or any other right, power or remedy. If one or more of the provisions of T & C are unenforceable against the Visitor/ Registered User, this will not in any way affect the enforceability of the remainder of the T & C. The Bank at its sole discretion may decide to waive or relax any of the provisions of the T & C on a temporary basis or as a special case and this will not affect the Bank's right to enforce that provision strictly at any other time.
  • In the event that any provision of these T & C is held to be in violation of any applicable law or if for any reason a court of competent jurisdiction finds any provision of these T & C, to be unenforceable, that provision shall be enforced to the maximum extent permissible so as to effect the intent of these T & C, and the remainder of these T & C shall continue in full force and effect.

Disclaimer

This Website is owned and maintained by Kotak Mahindra Bank Limited (referred to as "Bank" hereafter) for your personal information, communication, education and use. The Website may contain links to other websites, having further linked websites, operated by parties other than the Bank ("Linked Websites").
The use of this Website is governed by the following terms and conditions and other terms and conditions/policies as indicated on this Website ("T & C") and all applicable laws.  By accessing and using this Website you agree to accept, without limitation or qualification, all the T & C. The Content (including but not limited to information, material, news items, data, market movements etc.) of the Website including the T & C are subject to change at the sole discretion of the Bank, without prior notice.

Bank owns all the right, title and interest including the copyright in respect of all the Content including various logos, trademarks, service marks etc., unless indicated otherwise. You may use/download the Content only for noncommercial and personal use, provided you retain all copyright and other proprietary notices contained therein. You shall not, however, reproduce, distribute, redistribute, modify, transmit, reuse, report, or use the Content for public or commercial purposes without Bank's written permission. You shall not use the Content for any illegal purpose.

Products and services offered on the Website are available only in restricted geographical regions as indicated. This Website does not offer any products or services to citizens of or in the jurisdictions whose laws conflict with, differ from, or provide higher requirements than those necessitated by, the laws of the Republic of India.
The development of the Website with respect to the Content and software made available and products and services ("Products") offered through it, is a continuous and ongoing process and Products are provided on a "best effort basis." Bank makes all attempts to keep the Products updated and accurate. Except where explicitly stated, Bank makes no warranty or representation,  including but not limited to any warranties or representations as to the accuracy, reliability or completeness of the Products and/or fitness for a particular purpose, and/or non-infringement with respect to the Website and/or Linked Websites and/or the Products.
Any Content on Website must not be construed as investment advice, and you should exercise due caution and/or seek independent advice before entering into any investment or financial obligation based on the Content.

The contents displayed or the products/services offered on the Linked Websites or any quality of the same are not endorsed, verified or monitored by Bank in any way. Bank makes no representation or warranty, express or implied, of any kind whatsoever, pertaining to the Linked Websites.
Though the Bank will take steps to prevent introduction of virus and other such destructive materials on the Website, it does not represent, warrant or guarantee that the Website or the Content downloaded from the Website or Linked Websites do not contain such virus or destructive materials. Bank is not liable for any damage or harm attributable to such virus or destructive materials. The Bank does not warrant that the Website or functions thereof will be uninterrupted or free of any error or defect.

Bank shall not be liable to you or any third party (whether or not the access is authorized) for any cost, loss, damage or the like, incurred / suffered, directly or indirectly, due to:

  • Use of the Websites or Products in violation of the applicable terms and conditions of such usage or the applicable laws or otherwise failure to abide by such terms and conditions or laws.
  • Any action based on the Content or any use or application of the same or any error or omission relating to the transmission of the Content.
  • Any of the following: (i) Bank's failure to act upon your instructions, (ii) Non-availability of any Internet services in the desired manner, (iii) loss of any instruction in any communication channel or of any stored data/instructions; due to any reasons beyond the control of the Bank at the relevant point of time, including any problems and difficulties arising due to power and electricity failure, computer errors, programming errors, software or hardware errors, computer breakdown, non-availability of Internet connection, communication problems between the Bank's server and your computer network, shutting down of the Bank's server, non-availability of links, corruption of the computer software, problems in the telecommunication network and any other technology related problems, natural calamities/ disasters, legal restraints, industrial disputes or any other reason beyond the control of the Bank.
  • Any unauthorized transaction through this Website due to your fraudulent or negligent usage.
  • Any unauthorized / fraudulent / erroneous use of or hacking or intrusion into the computer network of the Bank by any third party due your negligent or fraudulent conduct, or if the Bank has taken due and reasonable care to avoid such hacking intrusion.
  • You or any third party accessing the Website irrevocably agrees to the exclusive jurisdiction of the courts at Mumbai in relation any matter connected or related to use or access of the Website and waives any objection to any proceedings on grounds of venue or on the grounds that the proceedings have been brought in an inconvenient forum. The governing law in any legal proceedings arising out of any product or service provided by the Bank shall be the laws of the Republic of India.