Terms and Conditions Governing the use of ICICI Bank’s Video Banking for Wealth Management and NRI Premia / NRI Pro customers
In this document the following words and phrases have the meanings set opposite them unless the context indicates otherwise:
Account(s) shall mean the User’s savings account and/ or any other type of account (each an "Account" and collectively "Accounts"), so maintained with ICICI Bank which are eligible account(s) for operations through the use of Video Banking Service.
ATM shall mean any Automated Teller Machine whether in India or overseas, whether of ICICI Bank or a specified shared network, at which, amongst other things, the User can use his/her ATM/Debit Card and / or Credit Card to access his funds in his/her Account held with ICICI Bank.
Debit Card shall mean the ICICI Bank Debit cum ATM Card issued to the User.
PIN shall mean the personal identification number allocated to the User by ICICI Bank or chosen by the User/ICICI Bank from time to time, in relation to the Debit Card.
ICICI Bank shall mean 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 registered office at Landmark, Race Course Circle, Vadodara 390 007, and its corporate office at ICICI 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.
Linked Accounts shall mean all accounts bearing the same Customer ID as the Account in relation to which the User is availing the Video Banking Service.
Mobile Application shall mean ICICI Bank’s video and voice based mobile application whereby ICICI Bank is providing various Video Banking Services to its Wealth Management and NRI Premia / NRI Pro customers.
Personal Information shall mean the information provided by the User to ICICI Bank through Video Banking.
Video Banking/ Video Banking Services refers to ICICI Bank's video banking service, pursuant to which ICICI Bank would provide information and related services through a Mobile Application to the User thereof, in relation inter alia to the Account(s) of such User, information about products and services of ICICI Bank and its affiliates/ group companies.
Terms refer to these terms and conditions for use of Video Banking as specified in this document.
User refers to a Wealth Management customer or a NRI Premia / NRI Pro customer of ICICI Bank authorised to avail Video Banking Services.
Website shall mean the website of ICICI Bank Limited as available at www.icicibank.com.
2. APPLICABILITY OF TERMS
These Terms form the contract between the User and ICICI Bank unconditionally. Each User depending upon the product applied for as mentioned herein shall be eligible for the Video Banking Services. Notwithstanding anything contained herein, all terms and conditions stipulated by ICICI Bank in connection with the Account(s) shall continue to apply.
3. VIDEO BANKING SERVICE
ICICI Bank shall endeavor to provide to the User through the Video Banking Services, various services including but not limited to inquiry of the balance in the Account(s), request for transfer of funds between the Linked Accounts of the User and such other facilities as ICICI Bank may decide to provide from time to time. The facility to make payment, through funds transfer, to any biller/s registered through the internet banking facility of ICICI Bank shall be provided only to the NRI Premia/Pro customers. ICICI Bank reserves the right to add, revise suspend or withdraw in whole or in part any of the services provided through Video Banking without any notice and these shall be binding on the User. By using the Video Banking Services, the User shall be deemed to have accepted the Terms.
4. UNAUTHORISED ACCESS
The User shall take all necessary precautions to prevent unauthorized and illegal use of the Video Banking Service and unauthorized access to the Account(s) through Video Banking.
5. VIDEO BANKING ACCESS TO USERS
User may access the Video Banking Service by entering the 16 digit Debit Card number along with the PIN for authentication purpose. The verification process may vary for different products and services offered to the User through Video Banking, as per the sole discretion of ICICI Bank.
Each time the User is desirous of accessing Video Banking, the User shall provide the required authentication pertaining to his/her Account(s) in the directed manner for such authentication. ICICI Bank shall also have the right to request the User for further information for authentication of the User's bonafide, at its discretion. ICICI Bank reserves the right to use any other information for authentication of the User. The User shall be deemed to represent that he is authorised to deal with the funds and property maintained in the Account(s) each time that the User uses the Video Banking Service and further shall also be deemed to represent that the User has the authority to seek information in respect thereof. ICICI Bank reserves the right to modify the authentication/ verification parameters in order to enhance the security levels and shall endeavor to give prior notice to the User by hosting the same on the Website or in any other manner as decided by ICICI Bank, if necessary.
The User agrees and acknowledges that ICICI Bank shall in no way be held responsible or liable if the User incurs any loss as a result of information being disclosed by ICICI Bank regarding his/her Account(s) to any affiliate or agent of ICICI Bank or any other party and the User shall indemnify and keep indemnified and hold harmless ICICI Bank and its affiliates/ group companies for any losses, damages, costs, claims and expenses (including attorney's fees) suffered/ incurred by ICICI Bank in that behalf.
The User shall maintain the secrecy of all information of confidential nature including information shared through Video Banking related to his/her Account/s and Debit card and shall ensure that the same is not disclosed to any person voluntarily, accidentally or by mistake and hereby agrees and undertakes that it shall not hold ICICI Bank responsible for any claims, damages, losses, costs, and expenses (including attorney's fees) which may arise as a result of or in connection with such disclosure by the User.
6. JOINT ACCOUNTS
(i) In case of Account(s) held jointly by two (2) or more individuals (“Joint Account(s)”), financial transactions through the Video Banking Service, will be available if the mode of operation is indicated as 'either or survivor' or 'anyone or survivor'. In such case, all the Joint Account holders desirous to operate the Joint Account(s) through the Video Banking Service, shall be bound by the Terms. ICICI Bank shall not be held responsible for acting upon the instructions given by one or more of the Joint Account holders through Video Banking Service. All correspondence will be addressed to the first named person only. All transactions arising from the use of Video Banking in the Joint Account(s) shall be binding on all the Joint Account holders, jointly and/ or severally.
(ii) In case of Joints Account(s) wherein the mode of operation does not fall into the aforesaid categories, the Video Banking Service shall not be available.
7. CHARGES/ FEES
The User hereby irrevocably and unconditionally authorises ICICI Bank to recover all charges/ fees related to Video Banking as may be determined by ICICI Bank from time to time by debiting any one of Account(s) of the User or by sending a bill/ invoice for the said charges to the User who shall be liable to make the payment within the period specified in the said bill/ invoice. Failure to pay the charges/fees (including applicable taxes) on or before the date specified by ICICI Bank shall render the User liable for payment of interest at such rate as may be stipulated by ICICI Bank. ICICI Bank shall also be entitled to recover the charges/fees from any other funds belonging to the User. ICICI Bank reserves the right to suspend/ withdraw/ cancel the Video Banking Services in the event any charges remain unpaid, without notice to the User and ICICI Bank shall not be held liable or responsible for such suspension/ withdrawal/ cancellation.
8. MAINTENANCE OF SUFFICIENT BALANCE
The User shall ensure that there are sufficient funds in the Account(s) for operations through Video Banking and ICICI Bank shall not be liable for any consequences arising out of ICICI Bank's failure to carry out any instructions due to inadequacy of funds and/or credit facilities, provided always that ICICI Bank shall at its sole discretion, be entitled to carry out the instructions notwithstanding such inadequacy without seeking the prior approval from or notice to the User and the User shall be responsible to repay with interest the resulting overdraft, advance or credit thereby created and for all related costs and charges.
9. FUNDS TRANSFER
The facility of funds transfer will be provided only between the Linked Accounts of the User. The facility to make payment to any registered biller/s shall only be provided to NRI Premia/Pro customers. ICICI Bank will endeavor to effect such funds transfer transaction request, received through Video Banking Service, subject to sufficient balance being available in the User's Account and/ or the completion of any other formalities/ requirements stipulated by ICICI Bank. ICICI Bank shall not be liable for any omission to make all or any of the payments or for late payments due to circumstances beyond the reasonable control of ICICI Bank.
10. AUTHORITY TO ICICI BANK
(i)The User irrevocably and unconditionally authorises ICICI Bank to access all his Account(s) for effecting banking or other transactions performed by the User through the Video Banking Service or otherwise for providing to the User any information sought by him through access to the Video Banking Service. The instruction of the User shall be effected only after authentication. ICICI Bank shall have no obligation to verify the authenticity of any transaction request received from the User through Video Banking Service or purporting to have been sent by the User via Video Banking Service after they are authenticated by the use of (1) Debit Card and PIN or (2) any other procedure which may be prescribed by ICICI Bank.
(ii) All the records of the transactions arising out of the use of the Video Banking Service generated by ICICI Bank, including the time the transaction was recorded, shall be conclusive proof of the genuineness and accuracy of the transaction. The authority to record the video/ audio content of the video call made in connection with the Video Banking Service is hereby expressly granted by the User to ICICI Bank.
(iii) While ICICI Bank shall endeavour to carry out the instructions promptly, they shall not be responsible for any delay in carrying on the instructions due to any reason whatsoever, including failure of operational systems or any requirements under the applicable law.
(i) All the instructions for operating Video Banking shall be given through the Mobile Application by the User in the manner acceptable to ICICI Bank. The User is also responsible for the accuracy and authenticity of the instructions provided to ICICI Bank and the same shall be considered to be sufficient to operate Video Banking. ICICI Bank shall not be required to independently verify the instructions and shall not be held responsible for any erroneous/ inaccurate/ incorrect / ambiguous instructions.
(ii) ICICI Bank has no liability if it does not or is unable to stop or prevent the implementation of the initial instruction if subsequently revoked by the User. Where ICICI Bank considers the instructions to be inconsistent or contradictory it may seek clarification from the User before acting on any instruction of the User. However, notwithstanding anything contained herein, ICICI Bank may act upon any such instruction in such manner as it deems appropriate.
(iii)ICICI Bank states that it has no liability or obligation to keep a record of the instructions or to provide information to the User or to verify the User's instructions. ICICI Bank may refuse to comply with the instructions without assigning any reason and shall not be under any duty to assess the prudence or otherwise of any instruction. ICICI Bank has the right to suspend the operations through Video Banking if it has reason to believe that the User's instructions will lead or expose it to direct or indirect losses or may require the User to furnish an indemnity or execute other documents or do any act, deed or thing as it may consider necessary for protecting its interests before continuing to operate the Video Banking Service.
12. ACCURANCY OF INFORMATION
(i) The User is responsible for the correctness of information supplied to ICICI Bank for use of the Video Banking Service. ICICI Bank accepts no liability for the consequences arising out of erroneous / inaccurate/ incorrect / ambiguous information supplied by the User.
(ii) If the User notices an error in the information supplied to ICICI Bank, he shall immediately advise ICICI Bank and ICICI Bank will endeavor to correct the error wherever possible on a reasonable efforts 'basis.
13. LIMITATION OF LIABILITY
ICICI Bank shall not be liable for any unauthorized transactions occurring through the use of Video Banking Service and the User hereby fully indemnifies and holds ICICI Bank harmless against any action, suit, proceeding initiated against it or any loss, cost or damage incurred by it as a result thereof.
ICICI Bank shall not be liable for any inaccuracy, error or delay in, or omission of (a) any data, information or message, or (b) the transmission or delivery of any such data, information or message; or (c) any loss or damage arising from or occasioned by any such inaccuracy, error, delay or omission, non-performance or interruption in any such data, information or message.
ICICI Bank shall under no circumstance be held liable to the User if Video Banking access is not available in the desired manner for reasons including but not limited to natural calamities, legal restraints, technical failures, breakdown/interruption/delay/failure of the internet or the related services, faults in the telecommunication network or network failure, or any other reason beyond the control of ICICI Bank. The User agrees that ICICI Bank shall not be liable for any error, omission or delay in the services provided by any internet service provider or any third party service provider on whose performance ICICI Bank/ User is dependant for transmitting such information or data. ICICI Bank shall not be liable for any damages, whether direct or indirect, arising out of such transmission including but not limited to any breach of confidentiality, loss of privacy, loss of data, business interruption, delay in delivery or any pecuniary loss.
Under no circumstances shall ICICI Bank, its employees, directors, and its third party agents involved in processing, delivering or managing the Video Banking Service , be liable for any direct, indirect, incidental, special or consequential damages, or any damages whatsoever, including punitive or exemplary (including, but not limited to, damages caused by any virus, personal injury, negligence, loss of profits, loss of data or other intangible information, business interruption, loss of privacy, or any pecuniary loss), arising out of or in any way connected with the provision of or any inadequacy or deficiency in the provision of Video Banking Services or resulting from unauthorized access or alteration of transmission or data or arising from suspension or termination of the Video Banking Service or any inability of ICICI Bank to receive instructions, directions, orders or other communications from the User or to transmit any related message for any reason whatsoever, whether based on contract, tort, strict liability or otherwise.
Illegal or improper use of the Video Banking Service shall render the User liable for payment of financial charges (to be decided by ICICI Bank) or will result in suspension of the operations through the Video Banking Service.
The User agrees to indemnify, without delay or demur, the Bank and its agents and keep the Bank and its agents indemnified and harmless at all times from and against any and all claims, damages, losses, costs, and expenses (including attorney's fees) which ICICI Bank may suffer or incur, directly or indirectly, arising from or in connection with:
a) Providing the Video Banking Service and executing the User’s instructions;
b) Non-compliance with applicable laws or court or statutory order or any action by any statutory, administrative or regulatory body;
c) Any error, default, fraud, acts, representation, misrepresentation, omission, negligence or misconduct of the User or its agents
d) Any claim by any third party in relation to the Video Banking Services
e) Breach of any obligations, non performance, inadequate performance, by the User of any of these Terms.
f) Any inaccuracy, error, omission or delay in provision of any data, information or message or the transmission or delivery of any such data, information or message as provided by the User;
The User will pay to ICICI Bank such amount as may be determined to be sufficient to indemnify it against any such, loss or expenses even though they may not have arisen or are contingent in nature. All indemnities given by the User to ICICI Bank shall survive the termination of these Terms.
15. DISCLOSURE OF INFORMATION
The User represents and warrants that the User has the right and authority to disclose the Personal Information to ICICI Bank and is not a party to any agreement or under any obligation to any third party which would prevent the User from entering into these Terms and complying with the same.
The User agrees that ICICI Bank and its agents may hold and process the Personal Information and all other information concerning the Account(s) in connection with Video Banking Service for analysis, credit scoring and marketing.
The User also agrees that ICICI Bank may disclose, in strict confidence, to other institutions, such Personal Information as may be reasonably necessary for reasons inclusive of but not limited to:
a) participation in any telecommunication or electronic clearing network;
b) credit rating by recognised credit scoring agencies;
c) fraud prevention;
d) an action, subpoena or order of a court of competent jurisdiction or of any requirement of legal process regulation or governmental order, decree, regulation or rule, without restrictions or other protection against public disclosure.
ICICI Bank may disclose the Personal Information to its employees, directors, affiliates, agents, professional consultants or advisors.
16. CHANGE OF TERMS AND CONDITIONS
ICICI Bank has the absolute discretion to amend or supplement any of the Terms at any time and ICICI Bank will endeavor to give notice of the same by displaying the amended Terms and Conditions on the Website or in any manner, it may deem fit, and such amended terms and conditions will thereupon apply to and be binding on the User.
The Video Banking Service is not transferable under any circumstance and shall be used only by the User.
Notices under these Terms may be given by ICICI Bank and the User in writing by delivering them by hand 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 as set out herein above. In addition, ICICI Bank may also publish notices of general nature, which are applicable to all Users of Video Banking in a newspaper or on the Website. Such notices will have the same effect as a notice served individually to each User. Notice and instructions will be deemed served seven (7) days after posting or upon receipt in the case of hand delivery, cable, telex or facsimile.
19. GOVERNING LAW
(i) These Terms shall be governed in accordance with the laws of India.
(ii) The User hereby agrees that any legal action or proceedings arising out of these Terms shall be brought in the courts or tribunals at Mumbai in India and the User irrevocably submits to the jurisdiction of such courts and tribunals. 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.
(iii) 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.
20. APPLICABILITY TO FUTURE ACCOUNTS
ICICI Bank and the User agree that if the User opens further Account(s) with/subscribes to any of the products/services of ICICI Bank, and ICICI Bank extends the Video Banking Service to such Account(s) or products or services, these Terms shall automatically apply to the use of the Video Banking Service by the User in relation to those Account(s).
21. BANKER'S LIEN AND SET-OFF
ICICI Bank shall have the banker's lien and right of set-off, on the deposits, funds or other property of the User with ICICI Bank, whether held in single name(s) or jointly with any person(s), to the extent of all outstanding dues, whatsoever, arising as a result of or in connection with the Video Banking Services.
The User, his/ her heirs, legal representatives, executors, administrators and successors are bound by these Terms. The User shall not assign his/her rights or obligations under the Video Banking Service to any person. ICICI Bank may assign its rights and/or obligations hereunder, at any time, to any person without notice to the User.
No failure or delay by ICICI Bank in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise of any other right, power or privilege. The rights and remedies of ICICI Bank hereunder are cumulative and not exclusive of any rights or remedies available in law.
24. THIRD PARTY RIGHTS
A person who is not a party to these Terms (other than an affiliate of ICICI Bank) shall have no right to enforce them.
ICICI Bank shall not be liable for any non-compliance of any applicable rules and regulations by the Client in connection with the Video Banking Services. ICICI Bank makes no express or implied warranty with respect to the Video Banking Services. ICICI Bank makes no warranty that (i) the Video Banking Services will meet all the requirements of the User; or (ii) the Video Banking Service will be uninterrupted or timely. ICICI Bank shall not be liable for any fraud, misconduct, act, omission or negligence of the agents or correspondent banks appointed by ICICI Bank for the purpose of the Video Banking Services.
(1) The clause headings in these Terms are for only for convenience and shall not be deemed to affect the interpretation of these Terms.
(2) ICICI Bank may sub-contract and employ agents to carry out any of its obligations under these Terms.
(3) Video Banking shall operate during such timings as may be specified by ICICI Bank from time to time
(4) The User must ensure that a device with front camera is available with the User for initiating the video call under the Video Banking Service. All costs incurred by the User including telecommunication costs/ internet charges to use the Video Banking Service shall be borne by the User.