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Terms and Conditions
The user accepts and unconditionally agrees to abide by the following terms and conditions.
1. DEFINITIONS IN THESE TERMS AND CONDITIONS
i) 'Bank' means Corporation Bank, a body corporate constituted under the Banking Companies (Acquisition and transfer of Undertakings) Act 1980 having its Head Office at
Mangaladevi Temple Road, Mangalore - 575 001, India including any branch/office thereof.
ii) 'Internet Banking Terms & Conditions' shall mean the terms and conditions as modified from time to time applicable to 'Internet Banking' facility offered by the Bank and
accepted by the user.
iii) 'Internet Banking' is the Bank's facility which refers to the following facilities offered by the Bank to the user:
a. Account status; which includes Balance Enquiry, Transaction View, Statement of Accounts, Credit Card details etc.
b. Services; which includes request for cheque book, stop payment, remittance (Demand Draft, Pay Order, TT and MT), utility payment (income tax and bills)
c. Administration module
d. Financial Transactions; which include transfer of funds, remittance instructions and debiting of service charges
e. Masters option; which includes downloading of forms etc., deposit renewal instructions etc.
f. Utilities; would include display of foreign exchange rates, deposit interest rates, gold rates, calculation for EMI/Deposit Maturity Value.
These facilities shall be offered in a phased manner at the convenience of the Bank. The Bank may also make additions/modifications/deletions to the facilities offered through
Internet Banking facility at its sole discretion.
iv) 'User' means an account holder of the Bank who has agreed to the terms and conditions mentioned herein and is authorized by the Bank to avail of the Internet Banking
facility.
v) 'User ID' refers to short collection of characters to be used to identify the person who is using the password.
vi) 'Account' means the user's savings and/or current account and/or any other type of account designated by the user for enquiry and/or operations through the use of
Internet Banking facility.
vii) 'Main Account' means an account which is so specified by the user to the Bank.
viii) 'Personal Information' refers to the information about the user obtained in connection with the Internet Banking facility.
ix) 'Password' is a secret series of characters comprising of letters of English alphabet and numeric numbers or special characters or a combination thereof that enables a
computer user to access a computer network, file, data or programme.
2. APPLICABILITY OF TERMS
These terms form the contract between the user and the Bank. By applying for Internet Banking facility and accessing facility, the user acknowledges and accepts these terms.
These terms and conditions are in addition to and not in derogation of the terms and conditions relating to any account of the user and in addition to any contract between
the user and the Bank.
3. INTERNET BANKING FACILITY
i) It is the discretion of the Bank to provide to the user through Internet Banking facility such facilities as the Bank may decide from time to time. It is Bank's discretion and right
to decide the type of facility which a user may be offered/ allowed on each account and may differ from user to user. The Bank may also make additions/ deletions/
modifications to the facilities offered through Internet Banking at its sole discretion. The availability /non-availability of a particular facility may be advised through e-mail or
web page of the Bank or written communication. The Bank reserves the right to decide on the per day limit on each account and may differ from user to user.
ii) All accounts opened with the Bank attached to the same user company code will be accessible through Internet Banking facility.
iii) The Bank shall take reasonable care to ensure the security of and prevent the unauthorized access to the Internet Banking facility using technology reasonably available to
the Bank. The Bank (at its own discretion) may go in for higher security standards as and when they are available and the user will have to adopt the same.
4. ACCESS TO INTERNET BANKING FACILITY
i) The user would need to be a current Internet user or have legal access to the Internet and knowledge of how Internet works.
ii) The Bank will advise, from time to time, the Internet software such as 'browsers' which are required for accessing Internet Banking.
iii) Upon receipt of a request from the account holder/s in the Bank's prescribed form and subject to satisfaction of the eligibility criteria notified by the Bank, from time to
time, access shall be provided by the Bank at its discretion, to enquiries and/or requests/financial transactions through Internet Banking facility.
iv) There will be no obligation on the Bank to support and make available/ provide all the current versions of the Internet software.
v) The Bank would allot the user a user ID and a Internet Banking facility secret password in the first instance. The user will be required to change the password assigned by
the Bank on accessing Internet Banking facility for the first time. As a safety measure the user shall change the password as frequently thereafter as possible.
vi) In addition to user ID and password, the Bank may, at its discretion, advise to adopt such other means of authentication including but not limited to digital certification
and/or smart cards.
vii ) The user shall not attempt or permit others to attempt accessing the account information stored in the computer system of the Bank through any means other than
Internet Banking facility.
viii) The user shall not attempt or permit others to attempt accessing the account information stored in the computer of the Bank which does not relate to his or its account
and/or illegal or improper purposes.
5. INSTRUCTIONS
The user is responsible for the accuracy and authenticity of the instructions provided to the Bank and the same shall be considered to be sufficient to operate Internet Banking
facility. The Bank shall not be required to independently verify the instructions. The Bank shall have no liability if it does not or is unable to stop/prevent the implementation of
initial instructions countermanded by further instructions. The Bank is at liberty to seek clarification from the user if it considers the instructions to be inconsistent or
contradictory or may act upon any instructions as it may think fit.
6. PASSWORD
(1) The user shall:
(a) Keep the user ID and password totally confidential and shall not reveal the password to any other person/party.
(b) Choose a password which will have to be of a minimum of 6 characters long and shall consist of a mix of alphabets, numbers and special characters which must not relate
to any readily accessible personal data, such as user's name, address, telephone number, driving license etc. or easily guessable combination of letters and numbers.
(c) Commit the user ID and password to memory and not record them in a written or electronic form, and
(d) Not let any unauthorized person has access to his computer or leave the computer unattended while accessing Internet Banking facility.
(2) If the user forgets the user ID or the password, he/she can request for change of the user-ID or password. Such replacement shall not be construed/ deemed as the
commencement of a new contract.
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Demand Drafts will be issued/will be mailed to the addressees as per the instructions of the user.
13. FUNDS TRANSFER
It is the discretion of the Bank to provide the above facility only when sufficient funds are available in the relative accounts of the user. The Bank shall not be liable for any
omission to make all or any of the payments or late payments due to circumstances beyond the reasonable control of the Bank.
14. BILL PAYMENTS
(i) The Bank shall not be liable for non-payment due to insufficient balance or circumstances beyond the reasonable control of the Bank including technical problems of
connectivity, computer system break down, non-availability of communication links etc.
(ii) The Bank shall in no way responsible for the non-payment of user's bills within the time stipulated and the user alone shall be bound to pay or discharge interest, penalty
or any such charges. Further, the Bank shall not be called upon to indemnify the user.
(iii) Any disputes regarding billing etc. shall be resolved by the user and Bank/ISP shall not be responsible in this regard.
15. MAILING ADDRESS
All correspondence/delivery by the Bank shall only be made at the address and/or e-mail address as registered with the Bank. The Bank shall in no way be held responsible for
any non-receipt of the same.
16. TRANSACTION PROCESSING
The user shall not hold the Bank responsible for not processing/effecting any transactions in case the Bank does not receive instructions to this effect even though the user
has forwarded the same.
17. AUTHORITY TO THE BANK
(i) Internet Banking facility transactions in the user's account are permitted only after authentication of the user-ID and password of the user. The user grants express authority
to the Bank for carrying out the following transactions performed by him/her through the Internet Banking facility:
a. The Bank shall have no obligation to verify the authenticity of any transaction received from the user through the Internet Banking or purporting to have been sent by the
user via any other means of verifications of the user ID and the password.
b. The display of printed output that is produced by the user at the time of operation of Internet Banking is a record of the operation of the Internet access and shall not be
construed as the Bank's record of the relative transactions.
(ii) The Bank's own record of transactions maintained through computer systems or otherwise shall be accepted as conclusive and binding for all purposes unless any
discrepancy is pointed out within 15 days from the date of access of his/her/their/its account by the user or from the date of sending the periodical statement to the user,
whichever is earlier.
18. ACCURACY OF INFORMATION
(i) The user is responsible for the correctness of information supplied to the Bank through the use of Internet Banking or through any other means such as electronic mail or
written communication. The Bank is not liable for the consequences arising out of erroneous information supplied by the user.
(ii) If the user suspects that thereis an errorin theinformation supplied to the Bank by him, he/she shall advise the Bank as soon as possible. The Bank will endeavour to correct
wherever possible on a 'best efforts' basis. The Bank accepts no liability for the consequences arising out of erroneousinformation supplied by the user.
(iii) If the user notices an error in the account information supplied to him through Internet Banking or by the use of any of the Internet Banking facilities, he/she shall advise
the Bank as soon as possible. The Bank will endeavour to correct the error promptly and adjust any interest or charges arising out of the error.
(iv) All outputs of statements are duplicate statements of account and will be prepared by electronic means and the information contained therein will be extracted from a
computerized back up system maintained by the Bank. While the Bank will take all reasonable steps to ensure the accuracy of the statement, the Bank is not liable for any
error. The user shall hold the Bank harmless against any loss, damages etc. that may be incurred/suffered by the user if the information contained in the abovesaid outputs
turns out to be inaccurate/incorrect.
19. LIABILITY OF THE USER
(i) All records of the Bank, whether in electronic form, tape recorded or documentary form, with respect to instructions received by use of the Internet Banking facility shall be
conclusive evidence of such instructions and be binding on the user.
(ii) If the user has complied with the terms and conditions and advises the Bank in writing under acknowledgement of an authorized official of the Bankimmediately after
he/she suspects that his user ID or password is known to another person and/or notices an unauthorized transaction in his account, he/she shall not be liable for losses arising
out of the subsequent unauthorized transactions occurring in the accounts after the receipt of such advice by the Bank.
(iii) The user shall be liable for all the losses from unauthorized transactions in the accounts if he/she has breached the terms or contributed or caused the loss by negligent
actions such as the following:
a. Keeping a written or electronic record of password.
b. Disclosing or failing to take all reasonable steps to prevent disclosure of the password to any one including Bank staff and/or failing to advise the Bank of such disclosure
within reasonable time.
c. Not advising the Bank in a reasonable time about unauthorized access to or erroneous transactions in the accounts.
20. LIABILITY OF THE BANK
(i) The Bank shall not be liable for any unauthorized transactions occurring through the use of Internet Banking facility which can be attributed to the fraudulent or negligent
conduct of the user.
(ii) The Bank shall in no circumstances be held liable to the user if Internet Banking access is not available in the desired manner for reasons including but not limited to
natural calamity, floods, fire and other natural disasters, legal restraints, fault in the telecommunication network or Internet or network failure, software or hardware error or
any other reason beyond the control of the Bank.
(iii) Under no circumstances shall the Bank be liable for any damages whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of
whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character or nature whatsoever and
whether sustained by the user or any other person.
21. INDEMNITY
The user shall indemnify and hold the Bank harmless against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses whatsoever which the
Bank may at any time incur, sustain, suffer or be put to as a consequence of breach of any of the Internet Banking terms and conditions mentioned herein or by reason of or
arising out of providing Internet Banking facility or by reason of the Bank in good faith taking or refusing to take or omitting to take action on any instruction given by the user.
26. RISKS
The user hereby acknowledges that he is utilizing the facility at his own risk. These risks would include the following risks:
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to provide instructions to the Bank. In such case, the Bank shall not be liable. The user shall ensure that the terms and conditions applicable to the use of the password as
contained in the Internet Banking facility terms and conditions are complied with at all times.
27. NON-TRANSFERABILITY
The grant of facility of Internet Banking to a user is not transferable under any circumstances and shall be used only by the user.
28. TERMINATION OF INTERNET BANKING FACILITY
(i) The user may request for termination of the Internet Banking facility any time by giving a written notice of at least 5 days to the Bank. The user will remain responsible for
any transactions made on his account(s) through Internet Banking prior to the time of such cancellation of the Internet Banking facility.
(ii) The Bank may withdraw the Internet Banking facility any time provided the user is given reasonable notice under the circumstances.
(iii) The closure of all accounts of the user will automatically terminate the Internet Banking facility.
(iv) The Bank may suspend or terminate Internet Banking facilities without prior notice if the user has committed breach of these terms and conditions or the Bank learns of
the death, bankruptcy or lack of legal capacity of the user.
29. NOTICES
The Bank and the user may give notices under these terms and conditions:
(*) Electronically to the mailbox of either party. Such notices will be regarded as being in writing.
(*) 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 the Bank to the address mentioned below:
Corporation Bank,
Information Technology Division,
Mangaladevi Temple Road,
Head Office,
Mangalore - 575 001.
(*) In addition, the Bank may also publish notices general nature, which are applicable to all users of Internet Banking on its web site. Such notices will have the same effect as
a notice served individually to each other.
31. GENERAL
(i) The clause headings in this document/agreement are only for convenience and do not affect the meaning of the relative clause.
(ii) The user shall not assign this document/ agreement to anybody else.
(iii) The Bank may subcontract and employ agents to carry out any of its obligations under this contract.
(iv) The instructions herein contained shall be irrevocable and shall prevail not withstanding any further/future instructions that the 'user' may give at the time of or before
operating the account.
Agree Disagree
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