Terms and conditions for the issue and use of ICICI Bank ATM cards.
Meaning of certain terms : The term "Bank" refers to "ICICI Bank Ltd." "ATM" refers to the Automated Teller Machines installed by the Bank "Card holder" refers to an account who has been issued an ICICI Bank ATM Card.
ICICI Bank ATM Card Issuance : An account holder may be issued an ICICI Bank ATM Card by the bank at its discretion, if he/she has satisfactorily conducted savings and/or current account and/or any other type of account so designated by the Bank to be eligible account(s) for operations through the use ICICI Bank ATM Card. The account holder shall give his/her preference of such account(s) held by him in writing in the Relationship form for issue of ICICI Bank ATM Card. A Minor's account or an account in which a minor is a joint account holder, is not eligible for issuance of ICICI Bank ATM Card.There may be more than one such account in which case one account shall be designated as " Primary Account", and the others as "Secondary Account 1" and " Secondary Account 2" at the option of the Cardholder.
ICICI Bank ATM Card : ICICI Bank ATM Card shall be issued to an approved account holder in respect of his account to enable him to operate the ATM.
ATM-Facilities: The facilities offered under ATM facility will include withdrawal of cash by the Cardholder from his account up to a stipulated amount limit only during a cycle of 24 hours deposit of cash and cheques in the account enquiry about the balance in the account(s), cash/cheque deposits requisition for a statement of account, request for changed PIN number, request for issue of cheque-books, request for transfer of amount from the Primary Account to the Secondary Account(s) or vice-versa and such other facilities as the Bank may decide to provide, from time to time.
Minimum Balance in Primary Account : The Cardholder shall maintain, at all times, such minimum balance in his account, as the Bank may decide from time to time and the Bank may at its discretion levy such penal or service charges as per the Bank's rules from time to time, or withdraw the ATM facility, if at any time the amount of deposit falls short of the required minimum as aforesaid, without giving any further notice to the Cardholder(s) and/or without incurring any liability or responsibility whatsoever by reason of such withdrawal.
Fees: Currently, the ATM card is issued free of cost to customers. Also no charges are levied for transactions made through the ATM. However, the Bank reserves the right to charge fees for the ATM facilities in future with prior intimation to customers.
Bank's Lien : The 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 Cardholder's Primary Account and/or, Secondary Account(s) or in any other account, whether in single name or joint name(s), to the extent of all outstanding dues, whatsoever, arising as a result of the ICICI Bank ATM card services extended to and / or used by the Cardholder.
(i) The Bank and its group companies shall have the paramount right of set-off and lien, irrespective of any other lien or charge, present as well as future on the deposits of any kind and nature (including fixed deposits) held/ balances lying in any accounts of the Cardholder/s, whether in single name or joint name(s) and on any monies, securities, bonds and all other assets, documents and properties held by/ under the control of The Bank and/or its group companies (whether by way of security or otherwise pursuant to any contract entered/ to be entered into by the Cardholder/s in any capacity) to the extent of all outstanding dues, whatsoever, arising as a result of any of The Bank's or its group companies’ services extended to and/or used by the Cardholder/s and/or as a result of any other facilities that may be granted by The Bank and/or its group companies to the Cardholder/s. The Bank and/ or its group companies are entitled without any notice to the Cardholder/s to settle any indebtedness whatsoever owed by the Cardholder/s to The Bank and/or its group companies, (whether actual or contingent, or whether primary or collateral, or whether joint and/or several) hereunder or under any other document/ agreement, by adjusting, setting-off any deposit(s) and/or transferring monies lying to the balance of any account(s) held by the Cardholder/s with The Bank and/or its group companies notwithstanding that the deposit(s)/ balances lying in such account(s) may not be expressed in the same currency as such indebtedness. The Bank's and its group companies’ rights hereunder shall not be affected by the Cardholder/s’ bankruptcy, death or winding-up. It shall be the Cardholder/s’ sole responsibility and liability to settle all disputes/ objections with any such joint account holders.
(ii) In addition to the above mentioned right or any other right which The Bank and its group companies may at any time be entitled whether by operation of law, contract or otherwise, the Cardholder authorises the Bank: (a) to combine or consolidate at any time all or any of the accounts and liabilities of the Cardholder with or to any branch of The Bank and/or its group companies; (b) to sell any of the Cardholder/s’ securities or properties held by the Bank by way of public or private sale without having to institute any judicial proceeding whatsoever and retain/appropriate from the proceeds derived there from the total amounts outstanding to The Bank and/or it group companies from the Cardholder/s, including costs and expenses in connection with such sale; and (c) in case of cross currency set-off, to convert an obligation in one currency to another currency at a rate determined at the sole discretion of The Bank and/or its group companies.
Multiple Cards : In case of joint account(s) Either or Survivor /anyone or Survivor where more than one person has been issued ICICI Bank ATM Card, all the Card-holders put together, shall withdraw only upto the permissible limit allowed to single card account(s), within the cycle time of 24 hours.
Joint account : In case of joint accounts where only one card is issued to a joint account holder, the other joint account holder(s) shall expressly agree with and give his/her consent on the application form for issue of ICICI Bank ATM card. In case any of the joint account holder(s) gives "stop payment stop transactions" instructions in respect of operations through the use of ICICI Bank ATM card, on any of the accounts held jointly by them, no operations will be allowed on such account(s) through the use of ICICI Bank ATM card. The "stop payment stop transactions" instruction can be given only in respect of such accounts in which he/she is a joint account holder.
Non-Transferability : ICICI Bank ATM card is not transferable under any circumstance and shall be used only by the Cardholder.
Personal Identification Number : Each Cardholder will be issued a sealed envelope containing a four digit number called Personal Identification number (PIN) to gain access to the ATM services. This number can be changed to any other convenient four digit number by the cardholder, at the ATM. The PIN shall under no circumstances be revealed to any third party. The Cardholder shall be solely responsible for the consequences arising out of the disclosure of his PIN and/or unauthorised use of ICICI Bank ATM card and shall be liable for any increased liability which he may incur on account of unauthorised use of the PIN and ICICI Bank ATM card. If the Cardholder forgets the PIN, he/she should make an application in writing for a fresh PIN. The selection of a new Personal Identification Number and/or the replacement of ICICI Bank ATM card shall not be construed as the commencement of a new contract.
Funds in the accounts: The Cardholder should not use or attempt to use ICICI Bank ATM card without sufficient funds in the account he wants to operate through the card.
Loss/ Theft of Cards : The Cardholder shall be responsible for the safe custody of ICICI Bank ATM card. In case of loss or theft of the ICICI Bank ATM card, the Cardholder shall advise any of our branches, preferably the ICICI Bank ATM card issuing branch as promptly as possible in writing, of the loss of ICICI Bank ATM card, however occuring. Cardholder shall however be responsible and liable for all transactions effected by the user of the Card until it is confiscated / cancelled. Another ICICI Bank ATM card will be issued to the Cardholder, in lieu of lost / stolen ICICI Bank ATM card, upon request in writing and payment of issue fee.
Authority to debit the account : The Cardholder along with the joint account holder(s), if any, shall authorise the Bank to debit the account(s) with the amount of withdrawals, or transfers effected by the use of ICICI Bank ATM card, as per the Bank's records. The Bank's record for transactions processed by the ATM machine shall be binding on all the joint account holders, jointly and severally.
Deposits : The amount of cash/cheque deposits shall be verified by two members of the Bank's staff, one of whom will be an officer. The amount verified by the Bank shall be deemed to be correct amount deposited by the Cardholder. The statement issued by the ATM at the time of deposit only represents what the Cardholder purports to have deposited and will not be binding on the Bank. If there are soiled, mutilated notes in such deposits, the acceptance of such deposits shall be subject to final acceptance and reimbursement by RBI as per the Note Refund Rules. Cheques will be accepted for collection only and the proceeds will not be available until they have been cleared. Deposits of foreign currency cash/cheques /soiled and mutilated notes or any other deposits which are unacceptable, shall be returned, at the Cardholders cost, risk and responsibility.
Responsibility for all transactions processed through the ATMs : Operations through the ATM facility on the Cardholders account(s) can only be through the use of ICICI Bank ATM card on the machine. The Cardholder shall in all circumstances, accept full responsibility for all transactions processed by the use of his/ her ICICI Bank ATM card, whether or not processed with the Cardholder's knowledge or authority, express or implied. The printed output that is produced at the time of operation of the ATMs are a record of the operation of the ATMs and shall not be construed as the Bank's records. The Bank's records of transactions shall be accepted as conclusive and binding for all purpose.
Closure of account(s) : If the Cardholder desires to close his account(s) or withdraw any ICICI Bank ATM card linked deposit, or even otherwise decides to terminate the use of the ICICI Bank ATM card facility, he shall give a written notice of at least two days and surrender ICICI Bank ATM card to the Bank. The Cardholder shall also pay dues, if any, payable to the Bank in connection with the ATM facility.
Change of terms and conditions : The Bank has the absolute discretion to withdraw ICICI Bank ATM card, the service thereby provided, or amend or supplement any of the above terms and conditions at any time without prior notice to the Cardholder.
Honouring the Card : The Bank shall in no circumstances be held liable to the Cardholder if ICICI Bank ATM card is not honoured in the desired manner for whatsoever reason, or if the ATM is destroyed or not functioning due to power failure, temporary insufficiency of cash in the ATM or any other reason. The Bank will not be liable for any consequential or indirect loss or damage arising therefrom.
Ownership of ICICI Bank ATM card: ICICI Bank ATM card shall be the property of the Bank and will be surrendered to the Bank on request or in the event of the Cardholder no longer requiring the service. The Bank reserves the right to disclose, in strict confidence, to other institutions, such information concerning the Cardholder's account as may be necessary or appropriate in connection with its participation in any ATM or Electronic Fund Transfer Network.
"ICICI Bank may, at its sole discretion, utilize the services of external service provider/s or agent/s and on such terms as required or necessary, in relation to its products/services."