Terms and conditions governing ICICI Bank’s payment service through the Truecaller platform

Last updated: 28th March 2017

 

These terms and conditions (“Terms”) apply to and regulate the provision of a Unified Payments Interface Service based electronic fund transfer and fund collection facility provided by ICICI Bank to its Users through the application owned and maintained by Truecaller (“Facility”) subject to Terms herein specified.

 

The User may apply for Facility by installing the Truecaller mobile application on their device and completing a one-time activation/registration for the Facility. User will have an option to set a virtual payment address (“VPA”) by linking an Account maintained with any bank in India through a one-time registration process defined and standardized by NPCI/ ICICI Bank and then start transacting. The process of registration is:

  • For ICICI Bank Account holders with existing VPA, User required to enter the registered mobile number and the Bank will automatically show their existing VPA and can link the same.
  • ICICI Bank Account holders who don’t have an existing VPA, need to create a VPA by selecting select their bank account and entering the debit card’s grid details.
  • Non-ICICI Bank customers need to select their bank followed by the account they want to link. Thereafter, they need to enter the last six digit of their debit card number along with the expiry details to create a VPA.

By applying for and accessing the Facility, the User accepts these Terms, which shall govern the provision of the Facility by ICICI Bank. The Terms shall be in addition to and not in derogation of the Guidelines issued from time to time.

Definitions

In this document the following words and phrases have the meanings set opposite them unless the context indicates otherwise:

 

"Account(s)" refers to the resident Indian savings and /or current bank account(s) held and maintained with any bank in India which is used for operations through the Facility.

 

"User" means the applicant/remitter availing of the Facility through the Account(s) and satisfying the following conditions:

  1. Has a valid mobile phone number;
  2. Has downloaded the Truecaller mobile application on the device; and
  3. Has an Account;

"ICICI Bank" means ICICI Bank Limited, a company incorporated under the Companies Act, 1956 and licensed as a bank under the Banking Regulation Act, 1949 and having its corporate office at ICICI Bank Towers, Bandra Kurla Complex, Mumbai 400 051 (which expression shall, unless it be repugnant to the subject or context thereof, include its successors and assigns).

 

“NPCI UPI System” means the switch and related equipment and software owned by NPCI to provide the UPI based fund transfer and funds collection facility including the National Financial Switch;

 

"Payment Order" means an unconditional instruction issued by the User in writing or transmitted electronically to ICICI Bank either through the Facility or through such other means as provided by ICICI Bank, to effect a fund transfer for a certain sum of money expressed in Indian rupees, to the designated account of a designated beneficiary by debiting Account(s) of the User.

 

“PSP (Payment Service Provider)” refers to banks which are allowed to acquire Users and provide payment services to Users.

 

“UPI” refers to the Unified Payments Interface Service offered by NPCI in collaboration with its member banks.

 

“Truecaller” means a company that provides a suite of unique services such as a dialer that offers caller ID, spam detection, messaging. Headquartered in Sweden, Kungsgatan 15 111 43, Stockholm. The company was founded in 2009.

Applicability of Terms

The User hereby acknowledges that the User has read and understood the Guidelines and agrees that the rights and obligations provided therein and in these Terms in so far as it relates to the User shall be binding on the User with regard to every Payment Order issued by him/it for execution in the NPCI UPI System. The User understands and agrees that nothing in terms of availing the Facility shall be construed as creating any contractual or other rights against NPCI or any participant in the NPCI UPI System other than ICICI Bank. Notwithstanding anything contained herein, all terms and conditions stipulated by ICICI Bank in connection with the Accounts shall continue to apply.

 

These Terms and Conditions are in addition to any terms and conditions that Trucaller may prescribe for the use of its mobile application.

Scope of the Facility

Facility offers an instant, 24X7, interbank electronic fund transfer or fund collection service to the customers of UPI member banks. The Users can put in request for fund transfers or funds collection or respond to funds collection in a secure manner for any of their linked bank Accounts. As a PSP, ICICI Bank will provide the Facility to the Users which will use the NPCI UPI libraries for facilitating payments through Trucaller’s mobile application.

Rights and Obligations of the User

  1. The User shall be entitled, subject to other terms and conditions of the service, to issue Payment Orders for execution by ICICI Bank.
  2. The Payment Order shall be issued by the User, in the form as prescribed by ICICI Bank, which is complete in all particulars. The User shall be responsible for the accuracy of the particulars given in the Payment Order for Facility and shall be liable to compensate ICICI Bank for any loss arising on account of any error in the Payment Order.
  3. The User shall be bound by any Payment Order executed by ICICI Bank if ICICI Bank has executed the Payment Order in good faith and in compliance with the instructions given by the User.
  4. The User authorizes ICICI Bank to act as a PSP and debit Account(s) as per instructions received by way of Payment Orders. The User understands that although multiple bank accounts can be linked with the Facility, debit/credit transactions can be done from the default account. User may change the default account before initiating such debit/credit transactions. Each Account that may be linked with the UPI facility can be opened with a separate username.
  5. The User shall ensure availability of funds in his Account(s) towards the fulfillment of the Payment Order before/at the time of the execution of the Payment Order by ICICI Bank. The User hereby authorizes ICICI Bank to debit the Account(s) of the User for any liability incurred by ICICI Bank on behalf of the User for execution of the instruction issued by the User. The User understands and agrees that once a fund collection request is accepted, the default account will automatically be credited with such amounts as may be mentioned in the fund collection request. The User understands and agrees that such amounts once credited to default account cannot be reversed by the User.
  6. The User agrees that the Payment Order shall become irrevocable when it is executed by ICICI Bank.
  7. The User agrees that he shall not be entitled to make any claim against RBI and/or NPCI in respect to the Facility.
  8. The User shall provide correct beneficiary details to ICICI Bank at the time of availing the Facility. The User shall be solely responsible for entering wrong beneficiary details like incorrect Virtual Payment Address, incorrect Aadhar number or incorrect mobile number, due to which the fund are transferred to an incorrect beneficiary.
  9. The User shall not hold ICICI Bank responsible for any damage, claim, issue arising out or in connection with any purchase of goods/services from merchants through Payment Orders issued by Facility. The User understands and agrees that all such losses, damages and issues shall constitute a claim against such merchants.
  10. The User agrees that the Facility are offered in line with the RBI’s guidelines on mobile banking which are subject to change from time to time as well as the
  11. User shall inform ICICI Bank immediately of any inquiry, question or issue raised by any authority including but not limited to any statutory authority or official regarding and relating to ICICI Bank, as well as expeditiously notify ICICI Bank of any show causes, seizure or similar action and provide copies of any notices, memos, correspondences received from such authority. User shall not unilaterally file any response / reply to such an authority without the prior approval and vetting by ICICI Bank.
  12. The User shall be solely liable for ensuring availability of sufficient funds in the Account(s) at all times for the purpose of availing the Facility. The User agrees that in the event there are insufficient funds in the Account, ICICI Bank can decline the transaction instruction.

General Terms

The laws of India shall govern these terms and conditions and/or the operations in the Account(s) maintained with ICICI Bank. Any legal action or proceedings arising out of these Terms shall be brought in the courts or tribunals at Mumbai in India. ICICI Bank may, however, in its absolute discretion commence any legal action or proceedings arising out of these Terms in any other court, tribunal or other appropriate forum, and the User hereby consents to that jurisdiction. The clause headings in this Terms are only for convenience and do not affect the meaning of the relative clause. ICICI Bank may sub-contract and employ agents to carry out any of its obligations hereunder. ICICI Bank may transfer or assign its rights and obligations under this contract to any other entity. ICICI Bank has the absolute discretion to amend or supplement any of the Terms as stated herein at any time and will endeavor to give prior notice of fifteen days for such changes wherever feasible. By using the new services, the User shall be deemed to have accepted the changed terms and conditions. Notices under these Terms may be given in writing by delivering them by hand or on ICICI Bank’s website www.icicibank.com or by sending them by post to the last address given by the User and in the case of ICICI Bank to its corporate office address. In addition, ICICI Bank may also publish notices of general nature, which are applicable to all Users in a newspaper or on its website at www.icicibank.com. Such notices will have the same effect as a notice served individually to each User. Notice and instructions will be deemed served 7 days after posting or upon receipt in the case of hand delivery, cable, telex or facsimile. Any provision of these Terms, which is prohibited or unenforceable in any jurisdiction, shall, as to such jurisdiction, be ineffective to the extent of prohibition or unenforceability but shall not invalidate the remaining provisions of these Terms or affect such provision in any other jurisdiction. ICICI Bank 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) to the extent of all outstanding dues, whatsoever, arising as a result of the Facility extended to and/or used by the User.

Sharing of Information

  1. The User irrevocably and unconditionally authorises ICICI Bank to access all the User’s Account(s) and records for the purpose of providing the Facility. The User agrees that ICICI Bank and its affiliates (or their contractors) may hold and process its personal information and all other information concerning its Account(s) on computer or otherwise in connection with the Facility as well as for analysis, credit scoring and marketing.
  2. The User hereby authorizes and consents for ICICI Bank to share any data so provided for usage of the Facility including name and VPA shared with Truecaller permit(s) Truecaller to verify, use and store such data.

Grievance redressal

  1. In case of any dispute or grievance, Users can send a mail to ‘’ to register their complaints. ICICI Bank will abide by NPCI guidelines and adhere to the customer dispute management process specified by NPCI
  2. User agrees and understand that the transaction will be recorded in the statement of account as given to the User by the User’s bank. The User agrees that he shall not be entitled to dispute the correctness of the execution of the Payment Order or the amount debited to his Account(s) if he fails to report the discrepancy as per NPCI guidelines.

Disclaimer of Liability

ICICI Bank does not hold out any warranty and makes no representation about the quality of the Facility. The User agrees and acknowledges that ICICI Bank shall not be liable and shall in no way be held responsible for any damages whatsoever whether such damages are direct, indirect, incidental or consequential and irrespective of whether any claim is based on loss of revenue, interruption of business, transaction carried out by the User and processed by ICICI Bank, information provided or disclosed by ICICI Bank regarding ]Account(s) or any loss of any character or nature whatsoever and whether sustained by the User or by any other person. While ICICI Bank shall endeavour to promptly execute and process the transactions as proposed to be made by the User, ICICI Bank 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. ICICI Bank shall not be liable for any loss, claim or damage suffered by the User and/or any other third party arising out of or resulting from failure of an UPI transaction on account of time out transaction i.e. where no response is received from NPCI or the beneficiary bank to the transaction request and/or where mobile number or account number of the beneficiary does not exist. Further, ICICI Bank shall also not be liable for any loss, damage and/or claim arising out of or resulting from wrong beneficiary details, mobile number and/or account details being provided by the Customer. ICICI Bank shall under, no circumstance, be held liable to the User if Facility access is not available in the desired manner for reasons including but not limited to natural calamities, legal restraints, faults in the telecommunication network or network failure, or any other reason beyond the control of ICICI Bank.

Indemnity

The User agrees, at its own expense, to indemnify, defend and hold harmless ICICI Bank against any claim, suit, action or other proceeding brought against ICICI Bank, to the extent that such claim, suit, action of other proceeding brought against ICICI Bank is based on or arises in connection with the use of the Facility with reference to :

  1. a violation of the Terms by the User;
  2. any deletions, additions, insertions or alterations to, or any unauthorized use of, the Facility by the User;
  3. any misrepresentation or breach of representation or warranty made by the User contained herein;
  4. any breach of any covenant or obligation to be performed by the User hereunder;

The User hereby agrees that under no circumstances, ICICI Bank’s aggregate liability for claims relating to the Facility, whether for breach or in tort including but not limited to negligence shall be limited to the transaction charges/fees or consideration paid by the User within the previous twelve (12) months for the Facility, excluding any amount paid towards transactions.

Miscellaneous

  1. The laws of India shall govern these terms and conditions and/or the operations in the Account(s) maintained with ICICI Bank. Any legal action or proceedings arising out of these Terms shall be brought in the courts or tribunals at Mumbai in India.
  2. ICICI Bank has the absolute discretion to amend or supplement any of the Terms as stated herein at any time and will endeavor to give prior notice of fifteen days for such changes wherever feasible. By using the new services, the User shall be deemed to have accepted the changed terms and conditions. Notices under these Terms may be given in writing by delivering them by hand or on ICICI Bank’s website www.icicibank.com or by sending them by post to the last address given by the User and in the case of ICICI Bank to its corporate office address.
  3. Notice and instructions will be deemed served 7 days after posting or upon receipt in the case of hand delivery, cable, telex or facsimile.