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Terms and Conditions

Yes Bank Cardholders

यस बैंक प्रीपेड इंस्ट्रूमेंट्स के लिए सबसे महत्वपूर्ण "नियम और शर्तें"

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Most Important "Terms and Conditions" for YES Bank Prepaid Instruments
  • Definitions:

    Prepaid Instrument (PPIs): PPIs (Card/wallet) are payment instruments that facilitate purchase of goods and services, including financial services, remittance facilities etc. against the value stored on such instruments.

    Know your Customer (KYC): The guidelines adopted by the Bank to identity the customer and verify the identity of the customer. 

    Personal Identification Number (PIN): PIN is a numeric password which is part of the kit handed over to customer by the bank while issuing the PPI.
    Holder: Individuals/Organizations who obtain/purchase PPIs from Bank and use the same for purchase of goods and services, including financial services, remittance facilities etc. against the value stored on such instruments.

  • Obligation of the Prepaid Customer who purchases Prepaid Instrument from the Bank:
  1. Prepaid Instrument (PPI) shall be issued to a Customer at the sole discretion of the Bank post complying with “Know Your Customer” guidelines.
  2. The Bank shall levy fees for issuance/usage of the Prepaid Instrument as per Schedule of Charges displayed on Bank/Partner website and available on website “Terms & Conditions”. 
  3. The Bank shall issue a PIN to Customer for operating the PPI. The Customer shall take reasonable precaution to prevent misuse of the PIN. The Customer shall be solely responsible for any consequences arising directly or indirectly out of the disclosure of the PIN and/or unauthorized use of PPI as a result of any misuse for want of reasonable care and precaution. The Customer disclaims liability of the Bank for any unauthorized use of Prepaid Instrument and for any loss or damage incurred directly or indirectly as a result of such misuse. 
  4. The Customer shall be responsible for safe custody of the Prepaid Instrument. In case of loss or theft of the Prepaid Instrument or misuse of the Instrument, the Customer shall immediately inform any of the branches /contact center of Bank. Customer shall be responsible and liable for all unauthorized transactions till the customer reports the unauthorized transaction to the Bank. A new Instrument shall be issued to the Customer, in lieu of lost/stolen PPI upon request in writing and payment of applicable fee as per the Schedule of Charges.
  5. The PPI can be used at any of the Yes Bank ATMs or network ATMs for permitted transactions depending on the type and features of the PPI.  The chargeslip dispensed by the ATM during usage of the PPI shall not be construed as an evidence of the transaction. The records of transactions maintained by the Bank shall be conclusive and binding for all purpose. 
  6. The Bank shall not pay any interest on the balance outstanding in the Prepaid Instrument at any point in time.
  7. The Bank will intimate the Customer through a SMS on the regd. mobile number, 45 days prior to expiry of validity period of the PPI. Customer needs to utilize the balance amount prior to expiry of the instrument. In case Customer does not utilize the balance amount within the validity period, the Customer can approach the bank for refund/transfer of outstanding balance. In case the Customer does not approach the bank within a specified period as prescribed by regulator, the outstanding balance will be transferred to a fund in compliance with the regulatory guidelines.
  8. Any claim for compensation made by the customer shall be settled purely as per the provisions of the Compensation Policy of the Bank.
  • Confidentiality: The Customer hereto shall keep strictly confidential all information including but not limited to that which may be disclosed or confided to it by the other in the course of the performance of the obligations under this ‘“Terms and Conditions”’. Neither the Customer nor Yes Bank shall disclose the same to any third party without prior approval of the other party. This clause shall survive the termination of PPI issued by Yes Bank. The following are the exceptions to this clause: 
    a. information already in public domain; 
    b. such information as is required to be disclosed by the disclosing party under any laws, rules or regulations or pursuant to the order or direction, of any Court, authority, tribunal or forum.


  • Change in information: The Customer shall also inform Yes Bank/Partner of any change in the Customers mailing address. Further, the Customer shall also inform Yes Bank about any change in the details such as name, telephone number, or mobile number.

  • Prohibition against assignment: The functions, rights or obligations under these ‘“Terms and Conditions”’ shall not be assigned or delegated to any party or person by the Customer without the express prior written consent of Yes Bank. Any purported assignment or delegation in contravention of the terms of the ‘“Terms and Conditions”’ shall be null and void.

  • Suspension or Termination or Cancellation or discontinuance of the PPI: Yes Bank may, if it is satisfied that it is necessary so to do, at any time and on such conditions as it thinks fit, suspend or deny or terminate the PPI under the following circumstances: (i) In the event of the Customer being declared insolvent or in the event Yes Bank receives any notice/intimation about the death of the Customer; (ii) In the event of the Customer committing breach of any of the terms, conditions, stipulations or its obligations under these ‘“Terms and Conditions”’ (iii) In the event of any restriction imposed on the Customer by an order issued by any regulatory authority or a Court in India or any investigating agency.

  • Indemnity: The Customer shall indemnify and keep Yes Bank, its directors, officers, employees and agents indemnified of, from and against any cost, expenses, charges, which Yes Bank is required to incur or has incurred to defend any such claim, suit, demand, prosecution, proceedings, due to any act of omission or commission, fraud, negligence or default on the part of the Customer as a holder of the PPI.

  • Force Majeure: Notwithstanding anything contained herein, Yes Bank shall not be liable to the Customer for any harm, loss, damage or injury caused due to causes beyond its control such as tide, storm, cyclone, flood, lightning, earthquake, fire, blast, explosion or any other act of God, war, rebellion, revolution, insurrection, embargo or sanction, blockade, riot, civil commotion, labour action or unrest including strike, lock-out or boycott, interruption or failure of any utility service, enemy action, criminal conspiracy, act of terrorism or vandalism, sabotage, hacking, unanticipated technological or natural interference or intrusion, loss or damage to satellites, loss of satellite linkage or any other data communications linkage, loss of connectivity or any other irresistible force or compulsion. 

  • Service of Notice: Any notice or communication required to be given under this ‘“Terms and Conditions”’ shall not be binding unless the same is in writing and shall have been served by hand delivery against acknowledgement or by registered post at the Registered Office address of Yes Bank Limited (in case a notice is to be served to Yes Bank) and to address recorded with Yes Bank in case notice is to be served to the Customer.

  • Grievance Redressal: Any complaint, dispute, grievance would be addressed to Yes Bank in accordance with the Banks Grievance Redressal policy. The Customer reserves the right to approach the Banking Ombudsman in case they are not satisfied with the resolution provided by the Bank.

  • Governing Law and Jurisdiction: The use of PPI by the Customer shall be governed in all respects by the laws in force in India. The Customer agrees to submit to the exclusive jurisdiction of the courts in Mumbai. These ‘“Terms and Conditions”’ shall be subject to Government notifications, any rules, regulations, guidelines and circulars/notices issued by Yes Bank and rules, regulations, bye Laws, Operating Instructions and circulars/communiqués/notices issued by the regulator.

  • Change of “Terms and Conditions”: Yes Bank reserves the right, in its sole and absolute discretion to amend, delete, modify, vary, or supplement any of the “Terms and Conditions” at any time and will endeavor to give prior notice of seven days for such changes.

  • Contact Centre details: In case of any queries, please call toll free number 180030001113. You can also write to goniyo.support@yesbank.in. Details can be found on “www.goniyo.com

  • Please refer exhaustive “Terms and Conditions” displayed on website of YES BANK for the latest comprehensive applicable “Terms and Conditions”. The customer shall be deemed to have read and understood the exhaustive “Terms and Conditions” while dealing with Yes Bank.

    Fees and Charges

    Schedule of charges: The schedule of charges* as applicable on date is provided below:






    Joining Fee

    Rs 200/- + Taxes


    Annual Fee

    Rs 200/- +Taxes (Rs 16.67 + Taxes Monthly)


    Reissue of Lost, Stolen or Damaged Card


    Rs 300


    Reissue Card PIN


    Rs 100


    Domestic Cash Withdrawal Fee


    Rs 20 + Taxes


    Domestic Balance Enquiry Fee(in ATMs)


    Rs 5 + Taxes


    Statement Request


    NIL


    Petrol transaction charge 


    2.5% of the transaction value (subject to a minimum of Rs. 10/-) plus applicable taxes



    Railway ticket booking or cancellation surcharge 


    2.5% of the transaction value (subject to a minimum of Rs. 25/-) plus applicable taxes



    Account Closure charges 


    NIL


    Replacement of a damaged card 

     

    NIL


    *Taxes as notified by the Government of India, are applicable and payable on all fees, interest and other charges

Yes NiYO Card Terms and Conditions

These Terms and Conditions are for Yes NiYO Card issued to NiYO Cardholders by YES Bank Limited, having its Registered Office at Nehru Centre 9th Floor, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400 018 and Finnew Solutions Private Limited a Banking Company incorporated under the Companies Act, 1956 having its registered office at Sigma Technology park, Ground Floor, Alpha Block, Phase 2, Whitefield, Bangalore – 560066.

 

  • I understand that access to any changes/updation in “T&C” would be available on the website only. That all the particulars and information given in the application form (and all documents referred or provided therewith) are true, correct, complete and up to date in all respects.

 

  • I further agree that I would at all times keep contact information including not limited to full name, mailing & non mailing address, mobile & landline numbers and email address updated.

 

  • I also undertake to provide any further information/updated KYC documents that NiYO may require from time to time.

 

  • I agree to indemnify NiYO against any fraud loss or damages suffered by NiYO due to my providing of any incorrect information or failure to communicate any change in such particular/information or provide true and updated documents.

 

  • That NiYO reserves the right to retain the application forms and documents provided herewith.

 

  • I further unconditionally and irrevocably authorise NiYO, to debit my account annually with an amount equivalent to the fees and charges for the issue and use of the NiYo services.

 

  • A Service Tax as determined by the Government of India from time to time is applicable on all Fees, Interest and Other Charges as per relevant and prevailing regulations of the Government of India. The Cardmember will be bound to pay for the same.

 

  • Further, I agree, undertake and authorise NiYO or its associates to make references and inquires which NiYO or its associates consider necessary in respect of or in relation to information in this application/further applications.

 

  • I agree that my employer has full right to reverse an instruction given by them to credit my account for any amount and I will not dispute or hold NiYO responsible for any such debits in my account.

 

  • I understand that it is my responsibility to inform NiYO immediately on termination of employment with my employer. The benefits applicable to Salary/ Reimbursement account stand to be modified in case of any change in employment. I undertake to inform NiYO in any change of employment and authorise NiYO to my employer details based on such information being received from me or my employer.

 

  • Accounts are subject to verification.

 

  • I have received a copy of schedule of charges/MID. I have read and understood the contents and agree to abide by the same.


  • The NiYO card should be used only for lawful, bonafide personal purposes and its use is neither permitted for any money laundering, anti social or speculative activities (including but not limited to investments/ trading in gold, mutual funds, etc) nor to be exploited commercially in the business (e.g. working capital purposes) of the Cardmember.

 

  • Secure transactions where IPIN/OTP/ APIN (ATM Personal Identification Number) has been validated to authenticate cardmember identity prior to completing a Card Not Present (CNP) / Card Present (CP) transaction (as applicable) will be deemed valid. Cardmember will be liable for such transactions. NiYO will not entertain any dispute request towards such secure transactions. Incase of dispute, cardmember would be required to file a complaint with police or appropriate law enforcement authorities and NiYO is committed to provide assistance as required.

 

  • The Cardmember hereby confirms and agrees that the existence of a claim or dispute shall not relieve the Cardmember of his obligation to pay all charges and the Cardmember agrees to pay promptly such charges, notwithstanding any dispute or claim whatsoever.

 

  • NiYO will send you a monthly statement, showing payments and transactions for the month, provided the Card has been active during the said period. The statement would be dispatched by physical mail or email to your mailing address as per our records.

 

  • The Card cannot be used for making payment towards foreign currency transactions.

 

  • I hereby authorise NiYO exchange, share or part with all the information/data provided herein including personal and business information with financial institutions/credit bureaus/ statutory bodies in order to facilitate NiYO to comply with obligations under various applicable laws, regulations and standards. /I shall not hold NiYO responsible for sharing information provided herein for the said purpose.

 

  • The Cardmember accepts that at its sole discretion, NiYO or it’s appointed representatives, may at any time, follow up with him for payment against charges/advances earlier incurred on the Card. The Cardmember also agrees to pay all costs (including legal costs) of collection of all dues, all charges incurred by NiYO for related and incidental matters.

 

  • Without prejudice to the foregoing, NiYO shall be under no liability whatsoever to the Cardmember in respect of any loss or damage arising directly or indirectly out of 

(a) any defect in any goods or services supplied;
(b) the refusal of any Merchant Partner to honour or accept a Card;
(c) the malfunction of any computer terminal;
(d) the giving of transaction instruction(s) other than by a Cardmember;
(e) any statement made by any person requesting the return of the Card or any act performed by any person in conjunction thereof;
(f) handing over of the Card by the Cardmember to anybody other than designated employees of NiYO;
(g) the exercise by the Bank of its right to demand and procure the surrender of the Card prior to the expiry date exposed on its face, whether such demand and surrender made and/or procured by NiYO or by any person or computer terminal;
(h) the exercise by NiYO of its right to terminate any Card or the Card Account;
(i) any injury to the credit character and reputation of the Cardmember alleged to have been caused by the repossession of the Card and/or any request for its return or seizure of all or any purchases made on the Card or the refusal of any service establishment/mail order establishment to honour or accept the Card;
(j) any misstatement, misrepresentation, error or omission in any details disclosed by NiYO or its agents or representatives;
(k) decline of a charge because of exceeding credit limits or foreign exchange entitlements as prescribed by the Exchange Control Regulations issued by the RBI from time to time, or NiYO becoming aware of the Cardmember exceeding his entitlements;
(l) inability of the Cardmember to withdraw cash at any ATM;
(m) malfunction of any communication or other equipments resulting in the inability of the Cardmember to avail of any facilities or to access any services;
In the event a demand or claim for settlement of outstanding dues from the Cardmember is made either by the Bank or any person acting on behalf of the Bank, the Cardmember agrees and acknowledges that such demand or claim shall not amount to be an act of defamation or an act prejudicial to or reflecting upon the character of the Cardmember, in any manner and the Cardmember absolves NiYO and its employees and officers of all liabilities in this regard.

 

Lost or Stolen Card

  • In the event that the Card is lost or stolen, the occurrence must be reported to Yes Bank and/or its associates or NiYO Customer Care immediately by fastest means of communication and get NiYO Card blocked/hot-listed. The lost or stolen card can promptly be blocked/hot-listed accessing the NiYO Mobile App.

 

  • Should transaction be received by Yes Bank and/or its associates after the Card has been lost or stolen but before receipt of any communication upon the blocking request, you shall be liable for all amounts debited to the NiYO Card.

 

  • You hereby undertake to indemnify Yes Bank and/or its associates fully against any liability (civil or criminal), loss, cost, expenses or damage that may arise due to loss or misuse of the Card in the event that it is lost and not reported to Yes Bank and/or its associates, or lost and misused before Yes Bank and/or its associates is informed. Provided you have in all respects complied with the Terms & Conditions, a replacement Card may be issued at the sole discretion of Yes Bank and/or its associates at the applicable fee.

 

  • If it is determined that you were grossly negligent or fraudulent in the handling of the Card, Yes Bank and/or its associates would not entertain any request for refund / reimbursement of fraudulent usage of the Lost / Stolen Card. If any amount is credited to your NiYO Card wallet based on your representation and / or any information provided by you, Yes Bank and/or NiYO would recover the amount from you without any prior notice. You hereby undertake to indemnify Yes Bank and/or NiYO fully against any liability, loss, cost, expenses, damage that may arise due to your negligent or fraudulent handling of the Card.

 

  • Should you subsequently recover the Card, it cannot be used. Please destroy the Card by cutting it into several pieces through the magnetic strip.

 

 

Customer Care

You can contact Customer Care by Call: 1800 3000 1113 or Email: goniyo.support@yesbank.in

 

 

Looking after your Yes NiYO Card
Following these simple guidelines will ensure that using your Yes NiYO Card is a pleasant experience.


  • Treat your NiYO Card in the same way you treat cash. Keep it with you at all time and never leave it unattended.

 

  • Your NiYO Card is for your exclusive use only. It is non-transferrable and also should never be surrendered to anyone other than a designated officer of NiYO and that tooonly after cutting into several pieces through the magnetic strip.

 

  • Never reveal or surrender your Personal Identification Number (PIN) to anyone. Please do not write or leave an evidence of your NiYO Card and never keep a written copy of it in close proximity to your NiYO Card. It is also recommended that you change the PIN to a number of your choice at regular intervals.


  • If your Card is lost /stolen, or if you suspect that your Card has been used fraudulently,please contact 1800 3000 1113 or Email: goniyo.support@yesbank.in immediately to report the loss.

 

  • In case you need your Card to be re-issued or terminated, please send in your request in writing to goniyo.support@yesbank.in . A replacement Card shall be provided to you at applicable tariff. Upon Card expiry or closure of your account, please cut your NiYO Card into several pieces through the magnetic strip.

 

  • Always ensure that the NiYO Card is swiped in your presence when transacting at merchant establishments.

 

 

 

 

 

Terms and Conditions for Yes Bank - NiYO Meal Prepaid Cards

The terms and conditions (hereinafter referred to as “Terms and Conditions”) mentioned herein is applicable to the usage of the “MEAL Prepaid Card”, and required to be agreed to and accepted before its usage. The Terms and Conditions, specified below govern and constitute the entire agreement and/or arrangement  between you and YES Bank in relation to the “MEAL Prepaid Card”, as amended from time to time at the at the sole discretion of the YES Bank Limited.

 

By completing the sign-up process for availing the “MEAL Prepaid Card”, you are deemed to have expressly read, understood and accepted each and every Terms and Conditions mentioned herein. You agree to be bound by all the Terms and Conditions mentioned herein, as may be amended from time to time, at the sole discretion of the YES Bank Limited.

  

  • DEFINITIONS

 In this Terms and Conditions, unless the contrary intention appears and/or the context otherwise requires, capitalized terms defined by: (i) inclusion in quotations and/ or parenthesis have the meanings so ascribed; and (ii) the following terms shall have the meanings assigned to them herein below:

 

  1. “Account” or “Card Account” refers to a prepaid account with an account balance equivalent to amount loaded on such PPI, for the purpose of monitoring the limits available on such PPI. 

  2. “Application Form” shall means as the context may permit or require, the MEAL Prepaid Card application form submitted by the Customer to YES Bank for the purpose of applying for and/or availing the MEAL Prepaid Card along with all requisite information, particulars, clarifications and declarations, if any, furnished by the Customer from time to time in connection with the MEAL Prepaid Card.

  3. “Business Day” means a day other than a Sunday or Public Holiday as defined under Section 25 of Negotiable Instrument Act, 1881 on which banks are open to transact business of banking. 

  4. Charges” means such levy, costs and charges levied by YES Bank for usage of the MEAL Prepaid Card, as amended from time to time.

  5. “Customer” or “Holder” shall mean any individual, limited liability partnership firm, partnership, society, company  or any other organization or entity under applicable laws, who obtain/purchase PPIs from Bank and use the same for purchase of goods and services, including financial services, remittance facilities etc. against the value stored on such instruments.

  6. “Customer Care Centre” refers to Program Phone Banking Service provided by YES Bank for addressing all queries, complaints raised by the Customer or any details or information sought by the Customer in relation to the MEAL Prepaid Card.

  7. “Card Agreement” means the agreement or arrangement letter signed and executed by the Customer with YES Bank for issuance of the MEAL Prepaid Card to its employees/ contractual staff and includes any amendments made thereto from time to time.

  8. “Card” or “YES BANK MEAL Card” or Prepaid Instrument (PPI) shall mean a Prepaid Instrument (“PPIs”-Card/wallet) are payment instruments that facilitate purchase of goods and services, including financial services, remittance facilities etc. against the value stored on such instruments as defined in the Master Direction on Issuance and Operation of Prepaid Payment Instruments dated December 29, 2017. 

  9. “EDC” or “Electronic Data Capture” means terminal, printer, other peripheral and accessory and necessary software on which the MEAL Prepaid Card can be swiped or used to initiate a transaction. 

  10. “Internet Payment Gateway” means the protocol stipulated/to be stipulated by YES Bank authorizing the payments through the MEAL Prepaid Card via internet upon authentication of the Customer.

  11. “KYC” shall mean Know your Customer guidelines adopted by the Bank for the purpose of identification and verification of the Customer, pursuant to the guidelines, circular and notifications, issued by the Reserve Bank of India, from time to time.

  12. “Merchant Establishments” shall mean such physical establishments including but not limited to stores, shops, restaurants, hotels, located in India, which accept MEAL Prepaid Card or Master Card. 

  13. “Personal Identification Number (PIN)” is a numeric password which is part of the kit provided to the Customer by YES Bank along with the PPI. 

  14. “Payment Channel” shall mean various modes of transactions including but not limited to EDC/ POS terminals/kiosks / Internet Payment Gateway and various other modes as intimated by Yes Bank from time to time.

  15. “POS” or “Point of Sale” means electronic terminals maintained by Merchant Establishments in India at which the Customer can use the MEAL Prepaid Card for the purpose of purchasing the  goods and services, including financial services, remittance facilities etc.

  16. “Program” shall mean YES Bank program to offer the MEAL Prepaid Card to the Customer.

  17. “Schedule of Fees/Charges” shall mean the details of fees or charges as may be prescribed by YES Bank from time to time and displayed on its Website, amended from time to time.

  18. “Statement” means a monthly statement of the MEAL Prepaid Card transaction available in YES Bank’s records setting out the financial transactions that have been carried out or made through the MEAL Prepaid Card, along with the balance, if any, in the Card Account.

  19. “Transaction” means any transaction initiated on the MEAL Prepaid Card by the Customer at any MasterCard affiliated Merchant Establishment, YES Bank ATMs, other bank’s ATMs in India or over the internet.

  20. “Transaction Limit” shall mean the maximum value of purchase that the Customer  can make at Merchant Establishment or over the internet directly or indirectly by using the MEAL Prepaid Card on any given day or for such periods as may be stipulated by YES Bank  from time to time, provided that in no event shall such amount be more than the amounts transferred to the MEAL Prepaid Card issued to the Customer, after deducting the aggregate debits made thereon pursuant to the use of the MEAL Prepaid Card by the Customer.

  21. “Website” shall mean the website owned, established and maintained by YES Bank located at the URL: www.yesbank.in or any modifications or amendments thereto from time to time. 

  22. “YES Bank” shall mean YES  Bank Ltd., a banking company within the meaning of the Companies Act 1956 and a banking company within the meaning of section 5 (c) of the banking Regulation Act, 1949, having its registered office at Nehru Centre, 9th Floor, Discovery of India, Dr A B Road, Worli, Mumbai 400 018.


  • INTERPRETATIONS

In these Terms and Conditions, unless the contrary intention appears: 

  1. a reference to an “amendment” includes a supplement, modification, novation, replacement or reenactment and “amended” is to be construed accordingly;

  2. an “authorization” or “approval” includes an authorisation, consent, clearance, approval, permission, resolution, license, exemption, filing and registration;

  3. “law” includes any constitution, statute, law, rule, regulation, ordinance, judgment, order, decree, authorisation, or any published directive, guideline, requirement or governmental restriction having the force of law, or any determination by or interpretation of any of the foregoing by any judicial authority, whether in effect as of the date of signing/submission of the Application Form or thereafter, and each as amended from time to time.

  4. “Force Majeure Event” means any event due to any cause beyond the reasonable control of the YES BANK, including without limitations, unavailability of any communication systems, breach, or virus in the processes or payment or delivery mechanism, sabotage, fire, flood, explosion, acts of god, civil commotion, strikes or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, unauthorized access to computer data and storage devices, computer crashes, malfunctioning in the computer terminal or the systems getting affected by any malicious, destructive or corrupting code or program, mechanical or technical errors/failures or power shut down, faults or failures in telecommunication etc.

  5. the singular includes the plural and vice versa;

  6. the headings in these Terms and Conditions are inserted for convenience of reference only 

  7. reference to the words “include” or “including” shall be construed without limitation; 

  8. reference to a gender shall include reference to the female, male and neuter genders;

  9. all approvals, permissions, consents or acceptance required from YES Bank for any matter shall require the prior written approval, permission, consent or acceptance of YES Bank;

  10. in the event of any disagreement or dispute between YES Bank and the Customer regarding the materiality of any matter including any event, occurrence, circumstance, change, fact, information, document, authorisation, proceeding, act, omission, claims, breach, default or otherwise, the opinion of YES Bank as to the materiality of any of the foregoing shall be final and binding on the Customer.

 

  • APPLICABILITY OF TERMS AND CONDITIONS: 

  1. These Terms and Conditions along with the General Terms and Conditions cumulatively form the entire contract between the Customer and YES Bank for usage of the MEAL Prepaid Card. 

  2. The MEAL Prepaid Card shall be issued by YES Bank, subject to the Customer fulfilling the eligibility criteria as stipulated by YES Bank, from time to time. 

  3. The MEAL Prepaid Card shall not be transferable to other individual or party.

  4. Upon completion of minimum KYC, the maximum credit balance which can be uploaded on the MEAL Prepaid Card shall be limited to INR 10,000/- (Rupees Ten Thousand Only). Upon fulfillment of full KYC, customer will be able to avail full limit as prescribed by regulator from time to time.

  5. The MEAL Prepaid Card shall be valid only within the territory of India and for transactions in Indian Rupees only. The MEAL Card cannot be used outside the territory of India or for any transactions denominated in foreign currency. 

  6. The MEAL Prepaid Card is the exclusive property of YES Bank. 

  7. The Customer shall be required sign on the reverse side of the MEAL Prepaid Card immediately upon its receipt. YES Bank reserves the right to reject or cancel any Transaction in absence of the signature or mismatch of the signature, without further notice or intimation to the Customer. 

  8. The MEAL Prepaid Card can be used at the Automated Teller Machines (“ATMs”) for balance enquiry transactions.

  9. YES Bank shall not be liable to pay any interest on any balance maintained in the MEAL Prepaid Card at any point in time.

  10. YES Bank will inform or intimate the Customer 45 days prior to the expiry of the MEAL Prepaid Card through SMS on the registered mobile number of the Customer. Customer needs to utilize the entire credit balance available on the MEAL Prepaid Card prior to the expiry of the MEAL Prepaid Card. In case the Customer does not utilize the credit balance available on the MEAL Prepaid Card within the validity period, the Customer can approach YES Bank for refund/transfer of outstanding balance to the account maintained with YES Bank or any other bank account of the Customer. In case the Customer does not approach YES Bank within a specified period, the outstanding credit balance available on the MEAL Prepaid Card will be transferred to a Fund in compliance with the regulatory guidelines.


  • ISSUANCE AND USAGE OF THE CARD 

  1. The Customer unconditionally and irrevocably authorizes YES Bank to deliver and handover the MEAL Prepaid Card to the Customer or the entity which will distribute it to the Customer(s). YES Bank shall not be liable or responsible for any act or omission on the part of the entity, in connection with the delivery of the MEAL Prepaid Card to the Customer.  

  2. YES Bank and the Merchant Establishments, reserves the right to refuse the acceptance of the MEAL Prepaid Card at any time for any reasons whatsoever, without any prior intimation to the Customer. 

  3. The MEAL Prepaid Card shall be used only for bonafide personal or official purposes. It is clarified that charges incurred may, in case of certain Merchant Establishments, include a charge for availing certain additional service or other facility being provided by such Merchant Establishments. 

  4. The Customer shall sign and retain all the charge slips generated for each of the Transaction consummated at a Merchant Establishment. YES Bank shall not be obliged to provide copies of the charge slips or transaction slips to the Customer. Any such request by the Customer will be at the sole discretion of YES Bank and provided such requests have been made by the Customer within forty-five (45) days from the date of the Transaction. The Customer agrees that YES Bank shall be entitled to charge additional cost or charge for providing  copies of the charge or transaction slips.

  5. Any charge or cost levied by the Merchant Establishment in relation to any Transaction, shall be directly settled by the Customer with the Merchant Establishment. YES Bank shall not be liable or responsible, either directly or indirectly, for any act or omission on the part of the Master Merchant or the charges or cost levied by them in relation to the Transaction.

  6. All refunds and adjustments due to any Merchant Establishments on account of device error or communication link will  be processed manually and the Card Account will be credited after due verification by YES Bank pursuant to the applicable rules, regulation and internal policy of YES Bank. The Customer agrees that any subsequent Transactions will be accepted or honored only basis the available credit balance in the Card Account(s) without taking into account any disputed amount under consideration by YES Bank. The Customer shall unconditionally keep YES Bank indemnified against any loss or damage caused to YES Bank on account of dishonoring the payment instructions as a result of insufficient funds in the Card Account. The Customer agrees that YES Bank shall be entitled to deduct the amount of such loss or damaged caused to YES Bank directly from the Card Account.

  7. The Customer acknowledges that all refunds in case of failed, returned, rejected or cancelled Transactions done by the Customer using any other payment instrument cannot be credited in the MEAL Prepaid Card.

  8. The Card Member undertakes to act in good faith at all times in relation to all dealings in relation to the MEAL Prepaid Card. The Customer accepts full responsibility for any illegal or wrongful use of the MEAL Prepaid Card in contravention to the Terms and Conditions contained herein and, undertakes and agrees to indemnify YES Bank against any loss, damage, interest, conversion, any other financial charge that YES Bank may incur and/or suffer, whether directly or indirectly, as a result of the Customer committing any violations of the Terms and Conditions contained herein.

  9. The Customer agrees that he/she will not use the MEAL Prepaid Card for making payment(s) of any goods and services, which is illegal under the Applicable laws.  The MEAL Prepaid Card cannot be used for making purchases of prohibited or contraband products or services, e.g. lottery tickets, banned or prohibited magazines, participation in sweepstakes, purchase of bitcoins, payment for call-back services, etc.

  10. The Customer hereby acknowledges and agrees that the MEAL Prepaid Card can be reloaded as per the request placed by the corporate.

  11. The Customer hereby acknowledges and agrees that if there are no Transaction for a consecutive period of one (1) year on the MEAL Prepaid Card, subject to validity of the the MEAL Prepaid Card, the MEAL Prepaid Card shall be made inactive by YES Bank after sending a notice to the Customer. The MEAL Prepaid Card can only be reactivated by YES Bank after validations and requisite due diligence, as stipulated by YES Bank, from time to time.

  12. The Customer hereby agrees to receive SMS or emailing alerts from YES Bank for all Transactions done using the MEAL Prepaid Card. The SMS or emailing alerts from YES Bank shall stipulate debit and credit Transactions, balance available or remaining on the MEAL Prepaid Card or such other information or details as stipulated by YES Bank, from time to time. 

  13. The Customer agrees and confirms that the Personal Identification Number (“PIN”) shall under no circumstances should be revealed by the Customer to any relative or family members or third party. The Customer shall be solely responsible and liable for the consequences arising out of such unauthorized disclosure of PIN and/or unauthorized usage of the MEAL Prepaid Card. The Customer disclaims all responsibility and liability of YES Bank arising out of or in connection with the unauthorized usage of the MEAL Prepaid Card and/or any loss or damage, whether direct or indirect, incurred by YES Bank as a result of such misuse. If the Customer forgets or misplaces the PIN, the Customer should make an application in writing or contact the Customer Care Centre for a new PIN immediately. The new PIN will be sent to the Customer’s registered email address, provided to or available with the YES Bank.

  14. The Customer agrees that YES 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 services.

  15. The Customer shall have access to Frequently Asked Questions (“FAQ”) as uploaded by YES Bank on its Website, from time to time.

 


  • BREACH

 

  1. In the event of any breach of these Terms and conditions by the Customer, YES Bank shall have the sole right to forthwith cancel or terminate the MEAL Prepaid Card, without any further claim, demand or dispute upon YES Bank.

  2. The Customer undertakes and agrees to indemnify YES Bank against any loss, damage, claim, penalty, cost, charges or expenses (including legal counsel fees) that YES Bank may incur and/or suffer, whether directly or indirectly, as a result of the Customer committing any breach of the Terms and Conditions contained herein.

 


  • TERM & TERMINATION

 

  1. The MEAL Prepaid Pocket shall be valid for a period of One (1) years from date of printing or until the expiry date printed on the face of the MEAL Prepaid Card. 

  2. The Customer agrees and undertakes to destroy the MEAL Prepaid Card upon its expiry to prevent any third party from using it. 

  3. The Customer may at any point of time, request for termination of the MEAL Prepaid Card, by giving a prior written notice of thirty (30) days to YES Bank, save and except, upon request by the Customer  for hot listing or blocking the MEAL Prepaid Card, in which case the MEAL Prepaid Card shall be terminated and/or cancelled with immediate effect.  

  4. The Customer understands that such notice will not take effect until the MEAL Prepaid Card has been defaced by cutting off the top right-hand corner, ensuring that both the hologram and the magnetic strip have been cut and has been destroyed or received by YES Bank. The Customer agrees that the Customer shall continue to be liable for any Charges incurred on the MEAL Prepaid Card prior to the termination of the MEAL Prepaid Card, irrespective of the fact whether the Customer has or claims to have destroyed the MEAL Prepaid Card.

  5. YES BANK may at its sole discretion terminate the MEAL Prepaid Card 
    (i) In the event the Customer is declared insolvent or death of the Customer 

    (ii) In the event of the Customer committing breach of any of the terms, conditions, stipulations or its obligations under these ‘“Terms and Conditions”’ 

    (iii) In the event of any restriction imposed on the Customer by an Order of a competent Court or Order issued by any regulatory or statutory authority in India or any investigating agency.

    (iv) In the event the MEAL Prepaid Card Program becomes illegal under the applicable laws, rules, and guidelines or circular. 

    (v) In the event the entire  MEAL Prepaid Card Program is terminated.

  6. YES Bank, at its sole discretion, reserves the right to, either temporarily or permanently, withdraw the privileges on the MEAL Prepaid Card and/or terminate the MEAL Prepaid Card at any time without giving any notice or assigning any reason thereof. In case of a temporary withdrawal, the privileges attached to the MEAL Prepaid Card  shall be reinstated by YES Bank at its sole discretion. In case of a permanent withdrawal, YES Bank has a right to cancel the MEAL Prepaid Card permanently. However, it is made distinctly clear that withdrawal (temporary or permanent) shall constitute automatic withdrawal of all benefits, privileges and services attached to the MEAL Prepaid Card. The Customer agrees that in the event of temporary or permanent withdrawal of the MEAL Prepaid Card, the Customer shall continue to be fully liable for all Charges incurred on the MEAL Prepaid Card prior to such withdrawal, together with all other applicable Charges thereon, unless otherwise specified by YES Bank.

  7. If YES Bank temporarily or permanently, withdraw the privileges or terminates the MEAL Prepaid Card, YES Bank will on best effort basis,  promptly notify the Customer. YES Bank shall not be held liable or responsible for any such delays or laches in receipt of such notification.

  8. Upon termination of the MEAL Prepaid Card as stated above, the balance amount,  if any lying in the Card Account shall be refunded to the Customer subject to the payment of applicable charges by way of Pay Order / Demand Draft drawn in favor of the Customer and  receipt of written request from the Customer. Customer to submit request with Yes Bank for refund of the balance amount


  • NOTICES

 

Any notice to be given by YES Bank hereunder shall  be deemed to have been received by the Customer, within seven (7) days from the date of the notice or email sent by YES Bank at the registered email or mailing address provided to or available with YES Bank. 

 

Any notice to be given by the Customer hereunder shall be deemed to have been received by YES Bank only upon acknowledgement of receipt of such notice by YES Bank at its Corporate Office Address at 22nd Floor, Indiabulls Financial Centre, Senapati Bapat Marg, Elphinstone (W), Mumbai – 400013.

 

Any notice or communication from the Customer hereunder shall not be binding on YES Bank unless the same is in writing and shall have been served and  acknowledged  by YES Bank or if by registered post, acknowledgement card. 

 


  • CHARGES

 

  1. Charges shall include:

    (a) Any fees charged by YES Bank in respect of the MEAL Prepaid Card, including replacement, renewal, handling and other fees, if any. These fees are non-refundable, non-transferrable and non-assignable in nature.

    (b) Service Charges on specific types of Transactions. The method of computation of such Charges will be as notified by YES Bank from time to time on its website:www.yesbank.in.

  2. All Charge, in the absence of manifest error, shall be final and binding on the Customer and shall be conclusive in nature. 

  3. All statutory taxes, goods and service tax, all other imposts, duties (including stamp duty and relevant registration charges, if any, in connection with the MEAL Prepaid Card) and taxes (of any description whatsoever) as may be levied from time to time by the Government or other authority in respect of or in connection with the MEAL Prepaid Card, will be borne by the Customer.

 


  • CASH WITHDRAWAL
  1.  As per regulatory guidelines, cash withdrawal is not permitted.



  • LOST, STOLEN OR MISUSED MEAL PREPAID CARD: 

  

  1. If the MEAL Prepaid Card is lost or stolen, the Customer must immediately report such loss or theft to Customer Care Centre and request for immediate suspension of the MEAL Prepaid Card.

  2. The Customer acknowledges that once the MEAL Prepaid Card is reported lost, stolen or damaged, such MEAL Prepaid Card cannot be used again, even if found subsequently. 

    The Customer is responsible for the security of the MEAL Prepaid Card and shall take all steps towards ensuring that the MEAL Prepaid Card is not misused. In the event YES Bank determines or receives any information that the Customer has neglected or refused or failed to take steps as indicated above, in case of loss, theft or destruction of the MEAL Prepaid Card, YES Bank reserves the sole right to cancel or terminate such MEAL Prepaid Card.

  3. No liability shall accrue upon the Customer for any unauthorized transactions done on the MEAL Prepaid Card, after such MEAL Prepaid Card has been reported lost, stolen or damaged by the Customer. All liabilities accrued on the MEAL Prepaid Card, post reporting by the Customer shall be borne by YES Bank. However, in case of any dispute relating to the time of reporting and/ or transaction/s made on the MEAL Prepaid Card, post reporting of the MEAL Prepaid Card  being lost,  stolen or misused, all decisions of YES Bank shall be final and binding on the Customer. 


  • EXCLUSION OF LIABILITY


  • Without prejudice to the foregoing, YES Bank shall be under no liability or responsibility to the Customer or any third party, in respect of any loss or damage arising, directly or indirectly out of:
    1. any defect in any goods or services supplied

    2. any disputes regarding the quality, value warranty, delay of delivery, non delivery, non receipt of any goods or services;

    3. the refusal of any person to honour or accept the MEAL Prepaid Card

    4. non functioning of MEAL Prepaid Card in the desired manner for whatsoever reason, or if the ATM is not functioning due whatsoever reasons

    5. the malfunction of any computer terminal 

    6. Any Force Majure events

    7. transfer of the MEAL Prepaid Card to any third party. 

    8. Termination of the MEAL Prepaid Card by the Customer. 

    9. Any loss or damage caused to the Customer alleged to have been caused by the repossession of the MEAL Prepaid Card by YES Bank. 

    10. Any discrepancy between the amount allocated to a MEAL Prepaid Card upon receipt of instructions in this regard from the Customer.  

    11. Any reversals done on the MEAL Prepaid Card on request of the Customer.

     

    • DISPUTED TRANSACTIONS
    1. Any charge or Transaction slip or other payment requisition received by YES Bank for payment shall be conclusive proof of such Charge, , unless the MEAL Prepaid Card is lost, stolen or fraudulently misused and evidenced by the Customer. 

    2. All disputed Transactions in relation to the MEAL Prepaid Card shall be required to be  raised with the Customer Care Centre maintained by YES Bank, within fifteen (15 )days from the date of the disputed transaction. The Customer acknowledges that any request, after 15 days from the date of the disputed transaction shall not be accepted by YES Bank.


    • QUALITY OF GOODS AND SERVICES
    1. Any dispute with or complaint against any Merchant Establishment regarding any goods purchased or services availed must be directly resolved by the Customer with the Merchant Establishment. 



    • DISCLOSURES
    1. The Customer acknowledges and consents to sharing of information pertaining to the Customer and the usage of the MEAL Prepaid Cardwith any other banks or financial or statutory or regulatory authorities.

    2. The Customer acknowledges and agrees that YES Bank may report to any other banks or financial or statutory or regulatory authorities any Customer delinquencies and/or  the usage of the MEAL Prepaid Card. YES Bank shall not be obliged to disclose the details of such banks or financial or statutory or regulatory authorities to the Customer, including the extent of such disclosure. 

    3. The Customer hereby authorizes YES Bank and its agents to exchange, share or part with all the information relating to the Customer’s details and payment history  with  YES Bank’s group companies or Affiliates. 

     


    •  Governing Law and Jurisdiction
    1. All disputes arising in relation to these Terms and Conditions shall be governed by and construed in accordance with the laws of India and shall be subject to the exclusive jurisdiction of the Courts of Mumbai 

     


    • CHANGING THESE TERMS AND CONDITIONS

     

    YES Bank reserves the sole right to change, these Terms and conditions, features and benefits offered on the MEAL Prepaid Card, including but not limited to interest charges or rates and methods of calculation.

     

    1. YES BANK shall communicate the amended Terms and Conditions by hosting them on its website, www.yesbank.in, or in any other manner as decided by YES Bank. 

    2. The Customer shall be responsible for reviewing these Terms and Conditions, including amendments thereto as may be posted on the YES Bank website: www.yesbank.in and shall be deemed to have accepted the amended Terms and Conditions by continuing to use the MEAL Prepaid Card.  

      


    • SCHEDULE OF CHARGES

     

    Fees

    Amount

    Card Issuance

    Rs. 200 per Card + Taxes

    ATM cash withdrawal 

    INR 20 + Taxes

    ATM Balance enquiry

    INR 5 + Taxes

    Annual fees

    INR 200+ Taxes

    Card Replacement 

    INR 100 + Taxes per card

     


    Nothing contained herein shall, however, prevent YES Bank from deducting tax deductible at source as required under the Applicable Laws, from any Transaction through the MEAL Prepaid Card.  

     

     

    • Customer Grievance Redressal 

     

    1. In the event of any dispute or grievance in relation to the MEAL Prepaid Card and/or these Terms and Conditions, the Customer may contact the YES Bank 24 hours Customer Care number at 1800 3000 1113 or Email: goniyo.support@yesbank.in.

    2. In the event the dispute or grievance in relation to the MEAL Prepaid Card and/or these Terms and Conditions is not adequately address or resolved by the YES Bank Customer Care, the Customer may approach the YES Bank Nodal Officer details of which can be found on website of Yes Bank.

    3. YES Bank agrees that all complaints, disputes or grievances raised by the Customer shall be addressed and/or resolved in a time bound manner.

    4. The Customer may at anytime approach the Banking Ombudsman for their grievance redressal.

     

    Terms and Conditions for Yes Bank - NiYO Gift Prepaid Cards

    The terms and conditions (hereinafter referred to as “Terms and Conditions”) mentioned herein is applicable to the usage of the “GIFT Prepaid Card”, and required to be agreed to and accepted before its usage. The Terms and Conditions, specified below govern and constitute the entire agreement and/or arrangement between you and YES Bank in relation to the “GIFT Prepaid Card”, as amended from time to time at the at the sole discretion of the YES Bank Limited. By completing the sign-up process for availing the “GIFT Prepaid Card”, you are deemed to have expressly read, understood and accepted each and every Terms and Conditions mentioned herein. You agree to be bound by all the Terms and Conditions mentioned herein, as may be amended from time to time, at the sole discretion of the YES Bank Limited.


    • DEFINITIONS

    In this Terms and Conditions, unless the contrary intention appears and/or the context otherwise requires, capitalized terms defined by: (i) inclusion in quotations and/ or parenthesis have the meanings so ascribed; and (ii) the following terms shall have the meanings assigned to them herein below:

    1. “Application Form” shall means as the context may permit or require, the GIFT Prepaid Card application form submitted by the Customer to YES Bank for the purpose of applying for and/or availing the GIFT Prepaid Card along with all requisite information, particulars, clarifications and declarations, if any, furnished by the Customer from time to time in connection with the GIFT Prepaid Card.

    2. “Account” or “Card Account” refers to a prepaid account with an account balance equivalent to amount loaded on such PPI, for the purpose of monitoring the limits available on such PPI.

    3. “Business Day” means a day other than a Sunday or Public Holiday as defined under Section 25 of Negotiable Instrument Act, 1881 on which banks are open to transact business of banking. 

    4. “Charges” means such levy, costs and charges levied by YES Bank for usage of the GIFT Prepaid Card, as amended from time to time.

    5. “Customer” or “Holder” shall mean any individual, limited liability partnership firm, partnership, society, company or any other organization or entity under applicable laws, who obtain/purchase PPIs from Bank and use the same for purchase of goods and services, including financial services, remittance facilities etc. against the value stored on such instruments.

    6. “Customer Care Centre” refers to Program Phone Banking Service provided by YES Bank for addressing all queries, complaints raised by the Customer or any details or information sought by the Customer in relation to the GIFT Prepaid Card.

    7. “Card Agreement” means the agreement or arrangement letter signed and executed by the Customer with YES Bank for issuance of the GIFT Prepaid Card to its employees/ contractual staff and includes any amendments made thereto from time to time.

    8. “Card” or “YES BANK GIFT Card” or Prepaid Instrument (PPI) shall mean a Prepaid Instrument (“PPIs”-Card/wallet) are payment instruments that facilitate purchase of goods and services, including financial services, remittance facilities etc. against the value stored on such instruments as defined in the Master Direction on Issuance and Operation of Prepaid Payment Instruments dated December 29, 2017. 

    9. “EDC” or “Electronic Data Capture” means terminal, printer, other peripheral and accessory and necessary software on which the GIFT Prepaid Card can be swiped or used to initiate a transaction. 

    10. “Internet Payment Gateway” means the protocol stipulated/to be stipulated by YES Bank authorizing the payments through the GIFT Prepaid Card via internet upon authentication of the Customer. 

    11. “KYC” shall mean Know your Customer guidelines adopted by the Bank for the purpose of identification and verification of the Customer, pursuant to the guidelines, circular and notifications, issued by the Reserve Bank of India, from time to time.

    12. “Merchant Establishments” shall mean such physical establishments including but not limited to stores, shops, restaurants, hotels, located in India, which accept GIFT Prepaid Card or Master Card. 

    13. “Personal Identification Number (PIN)” is a numeric password which is part of the kit provided to the Customer by YES Bank along with the PPI. 

    14. “Payment Channel” shall mean various modes of transactions including but not limited to EDC/ POS terminals/kiosks / Internet Payment Gateway and various other modes as intimated by Yes Bank from time to time.

    15. “POS” or “Point of Sale” means electronic terminals maintained by Merchant Establishments in India at which the Customer can use the GIFT Prepaid Card for the purpose of purchasing the goods and services, including financial services, remittance facilities etc.

    16. “Program” shall mean YES Bank program to offer the GIFT Prepaid Card to the Customer.

    17. “Schedule of Fees/Charges” shall mean the details of fees or charges as may be prescribed by YES Bank from time to time and displayed on its Website, amended from time to time.

    18. “Statement” means a monthly statement of the GIFT Prepaid Card transaction available in YES Bank’s records setting out the financial transactions that have been carried out or made through the GIFT Prepaid Card, along with the balance, if any, in the Card Account.

    19. “Transaction” means any transaction initiated on the GIFT Prepaid Card by the Customer at any MasterCard affiliated Merchant Establishment, YES Bank ATMs, other bank’s ATMs in India or over the internet.

    20. “Transaction Limit” shall mean the maximum value of purchase that the Customer can make at Merchant Establishment or over the internet directly or indirectly by using the GIFT Prepaid Card on any given day or for such periods as may be stipulated by YES Bank from time to time, provided that in no event shall such amount be more than the amounts transferred to the GIFT Prepaid Card issued to the Customer, after deducting the aggregate debits made thereon pursuant to the use of the GIFT Prepaid Card by the Customer.

    21. “Website” shall mean the website owned, established and maintained by YES Bank located at the URL: www.yesbank.in or any modifications or amendments thereto from time to time. 

    22. “YES Bank” shall mean YES Bank Ltd., a banking company within the meaning of the Companies Act 1956 and a banking company within the meaning of section 5 (c) of the banking Regulation Act, 1949, having its registered office at Nehru Centre, 9th Floor, Discovery of India, Dr A B Road, Worli, Mumbai 400 018.


    • INTERPRETATIONS

     

    In these Terms and Conditions, unless the contrary intention appears:  

    1. a reference to an “amendment” includes a supplement, modification, novation, replacement or reenactment and “amended” is to be construed accordingly; 

    2. an “authorization” or “approval” includes an authorisation, consent, clearance, approval, permission, resolution, license, exemption, filing and registration; 

    3. “law” includes any constitution, statute, law, rule, regulation, ordinance, judgment, order, decree, authorisation, or any published directive, guideline, requirement or governmental restriction having the force of law, or any determination by or interpretation of any of the foregoing by any judicial authority, whether in effect as of the date of signing/submission of the Application Form or thereafter, and each as amended from time to time.

    4. “Force Majeure Event” means any event due to any cause beyond the reasonable control of the YES BANK, including without limitations, unavailability of any communication systems, breach, or virus in the processes or payment or delivery mechanism, sabotage, fire, flood, explosion, acts of god, civil commotion, strikes or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, unauthorized access to computer data and storage devices, computer crashes, malfunctioning in the computer terminal or the systems getting affected by any malicious, destructive or corrupting code or program, mechanical or technical errors/failures or power shut down, faults or failures in telecommunication etc.

    5. the singular includes the plural and vice versa;

    6. the headings in these Terms and Conditions are inserted for convenience of reference only 

    7. reference to the words “include” or “including” shall be construed without limitation; 

    8. reference to a gender shall include reference to the female, male and neuter genders;

    9. all approvals, permissions, consents or acceptance required from YES Bank for any matter shall require the prior written approval, permission, consent or acceptance of YES Bank;

    10. in the event of any disagreement or dispute between YES Bank and the Customer regarding the materiality of any matter including any event, occurrence, circumstance, change, fact, information, document, authorisation, proceeding, act, omission, claims, breach, default or otherwise, the opinion of YES Bank as to the materiality of any of the foregoing shall be final and binding on the Customer.


    • APPLICABILITY OF TERMS AND CONDITIONS:
    1. These Terms and Conditions along with the General Terms and Conditions cumulatively form the entire contract between the Customer and YES Bank for usage of the GIFT Prepaid Card. 

    2. The GIFT Prepaid Card shall be issued by YES Bank, subject to the Customer fulfilling the eligibility criteria as stipulated by YES Bank, from time to time. 

    3. The GIFT Prepaid Card shall not be transferable to other individual or party.

    4. The maximum credit balance which can be uploaded on the GIFT Prepaid Card shall be limited to INR 5000/- (Rupees Five Thousand Only). 

    5. The GIFT Prepaid Card shall be valid only within the territory of India and for transactions in Indian Rupees only. The GIFT Card cannot be used outside the territory of India or for any transactions denominated in foreign currency. 

    6. The GIFT Prepaid Card is the exclusive property of YES Bank. 

    7. The Customer shall be required sign on the reverse side of the GIFT Prepaid Card immediately upon its receipt. YES Bank reserves the right to reject or cancel any Transaction in absence of the signature or mismatch of the signature, without further notice or intimation to the Customer. 

    8. The GIFT Prepaid Card can be used at the Automated Teller Machines (“ATMs”) for balance enquiry transactions.

    9. YES Bank shall not be liable to pay any interest on any balance maintained in the GIFT Prepaid Card at any point in time.

    10. YES Bank will inform or intimate the Customer 45 days prior to the expiry of the GIFT Prepaid Card through SMS on the registered mobile number of the Customer. Customer needs to utilize the entire credit balance available on the GIFT Prepaid Card prior to the expiry of the GIFT Prepaid Card. In case the Customer does not utilize the credit balance available on the GIFT Prepaid Card within the validity period, the Customer can approach YES Bank for refund/transfer of outstanding balance to the account maintained with YES Bank or any other bank account of the Customer. In case the Customer does not approach YES Bank within a specified period, the outstanding credit balance available on the GIFT Prepaid Card will be transferred to a Fund in compliance with the regulatory guidelines.


    • ISSUANCE AND USAGE OF THE CARD
    1. The Customer unconditionally and irrevocably authorizes YES Bank to deliver and handover the GIFT Prepaid Card to the Customer or the entity which will distribute it to the Customer(s). YES Bank shall not be liable or responsible for any act or omission on the part of the entity, in connection with the delivery of the GIFT Prepaid Card to the Customer.

    2. YES Bank and the Merchant Establishments, reserves the right to refuse the acceptance of the GIFT Prepaid Card at any time for any reasons whatsoever, without any prior intimation to the Customer. 

    3. The GIFT Prepaid Card shall be used only for bonafide personal or official purposes. It is clarified that charges incurred may, in case of certain Merchant Establishments, include a charge for availing certain additional service or other facility being provided by such Merchant Establishments. 

    4. The Customer shall sign and retain all the charge slips generated for each of the Transaction consummated at a Merchant Establishment. YES Bank shall not be obliged to provide copies of the charge slips or transaction slips to the Customer. Any such request by the Customer will be at the sole discretion of YES Bank and provided such requests have been made by the Customer within forty-five (45) days from the date of the Transaction. The Customer agrees that YES Bank shall be entitled to charge additional cost or charge for providing copies of the charge or transaction slips.

    5. Any charge or cost levied by the Merchant Establishment in relation to any Transaction, shall be directly settled by the Customer with the Merchant Establishment. YES Bank shall not be liable or responsible, either directly or indirectly, for any act or omission on the part of the Master Merchant or the charges or cost levied by them in relation to the Transaction.

    6. All refunds and adjustments due to any Merchant Establishments on account of device error or communication link will be processed manually and the Card Account will be credited after due verification by YES Bank pursuant to the applicable rules, regulation and internal policy of YES Bank. The Customer agrees that any subsequent Transactions will be accepted or honored only basis the available credit balance in the Card Account(s) without taking into account any disputed amount under consideration by YES Bank. The Customer shall unconditionally keep YES Bank indemnified against any loss or damage caused to YES Bank on account of dishonoring the payment instructions as a result of insufficient funds in the Card Account. The Customer agrees that YES Bank shall be entitled to deduct the amount of such loss or damaged caused to YES Bank directly from the Card Account.

    7. The Customer acknowledges that all refunds in case of failed, returned, rejected or cancelled Transactions done by the Customer using any other payment instrument cannot be credited in the GIFT Prepaid Card.

    8. The Card Member undertakes to act in good faith at all times in relation to all dealings in relation to the GIFT Prepaid Card. The Customer accepts full responsibility for any illegal or wrongful use of the GIFT Prepaid Card in contravention to the Terms and Conditions contained herein and, undertakes and agrees to indemnify YES Bank against any loss, damage, interest, conversion, any other financial charge that YES Bank may incur and/or suffer, whether directly or indirectly, as a result of the Customer committing any violations of the Terms and Conditions contained herein.

    9. The Customer agrees that he/she will not use the GIFT Prepaid Card for making payment(s) of any goods and services, which is illegal under the Applicable laws. The GIFT Prepaid Card cannot be used for making purchases of prohibited or contraband products or services, e.g. lottery tickets, banned or prohibited magazines, participation in sweepstakes, purchase of bitcoins, payment for call-back services, etc.

    10. The Customer hereby acknowledges and agrees that the GIFT Prepaid Card cannot be reloaded.

    11. The Customer hereby acknowledges and agrees that if there are no Transaction for a consecutive period of one (1) year on the GIFT Prepaid Card, subject to validity of the the GIFT Prepaid Card, the GIFT Prepaid Card shall be made inactive by YES Bank after sending a notice to the Customer. The GIFT Prepaid Card can only be reactivated by YES Bank after validations and requisite due diligence, as stipulated by YES Bank, from time to time.

    12. The Customer hereby agrees to receive SMS or emailing alerts from YES Bank for all Transactions done using the GIFT Prepaid Card. The SMS or emailing alerts from YES Bank shall stipulate debit and credit Transactions, balance available or remaining on the GIFT Prepaid Card or such other information or details as stipulated by YES Bank, from time to time. 

    13. The Customer agrees and confirms that the Personal Identification Number (“PIN”) shall under no circumstances should be revealed by the Customer to any relative or family members or third party. The Customer shall be solely responsible and liable for the consequences arising out of such unauthorized disclosure of PIN and/or unauthorized usage of the GIFT Prepaid Card. The Customer disclaims all responsibility and liability of YES Bank arising out of or in connection with the unauthorized usage of the GIFT Prepaid Card and/or any loss or damage, whether direct or indirect, incurred by YES Bank as a result of such misuse. If the Customer forgets or misplaces the PIN, the Customer should make an application in writing or contact the Customer Care Centre for a new PIN immediately. The new PIN will be sent to the Customer’s registered email address, provided to or available with the YES Bank.

    14. The Customer agrees that YES 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 services.

    15. The Customer shall have access to Frequently Asked Questions (“FAQ”) as uploaded by YES Bank on its Website, from time to time.


    • BREACH
    1. In the event of any breach of these Terms and conditions by the Customer, YES Bank shall have the sole right to forthwith cancel or terminate the GIFT Prepaid Card, without any further claim, demand or dispute upon YES Bank.

    2. The Customer undertakes and agrees to indemnify YES Bank against any loss, damage, claim, penalty, cost, charges or expenses (including legal counsel fees) that YES Bank may incur and/or suffer, whether directly or indirectly, as a result of the Customer committing any breach of the Terms and Conditions contained herein.


    • TERM & TERMINATION

     

    1. The GIFT Prepaid Pocket shall be valid for a period of One (1) years from date of printing or until the expiry date printed on the face of the GIFT Prepaid Card. 

    2. The Customer agrees and undertakes to destroy the GIFT Prepaid Card upon its expiry to prevent any third party from using it. 

    3. The Customer may at any point of time, request for termination of the GIFT Prepaid Card, by giving a prior written notice of thirty (30) days to YES Bank, save and except, upon request by the Customer for hot listing or blocking the GIFT Prepaid Card, in which case the GIFT Prepaid Card shall be terminated and/or cancelled with immediate effect.  

    4. The Customer understands that such notice will not take effect until the GIFT Prepaid Card has been defaced by cutting off the top right-hand corner, ensuring that both the hologram and the magnetic strip have been cut and has been destroyed or received by YES Bank. The Customer agrees that the Customer shall continue to be liable for any Charges incurred on the GIFT Prepaid Card prior to the termination of the GIFT Prepaid Card, irrespective of the fact whether the Customer has or claims to have destroyed the GIFT Prepaid Card.

    5. YES BANK may at its sole discretion terminate the GIFT Prepaid Card

      (i) In the event the Customer is declared insolvent or death of the Customer.

      (ii) In the event of the Customer committing breach of any of the terms, conditions, stipulations or its obligations under these ‘“Terms and Conditions”’ 

      (iii) In the event of any restriction imposed on the Customer by an Order of a competent Court or Order issued by any regulatory or statutory authority in India or any investigating agency.

      (iv) In the event the GIFT Prepaid Card Program becomes illegal under the applicable laws, rules, and guidelines or circular. 

      (v) In the event the entire GIFT Prepaid Card Program is terminated.

    6. YES Bank, at its sole discretion, reserves the right to, either temporarily or permanently, withdraw the privileges on the GIFT Prepaid Card and/or terminate the GIFT Prepaid Card at any time without giving any notice or assigning any reason thereof. In case of a temporary withdrawal, the privileges attached to the GIFT Prepaid Card shall be reinstated by YES Bank at its sole discretion. In case of a permanent withdrawal, YES Bank has a right to cancel the GIFT Prepaid Card permanently. However, it is made distinctly clear that withdrawal (temporary or permanent) shall constitute automatic withdrawal of all benefits, privileges and services attached to the GIFT Prepaid Card. The Customer agrees that in the event of temporary or permanent withdrawal of the GIFT Prepaid Card, the Customer shall continue to be fully liable for all Charges incurred on the GIFT Prepaid Card prior to such withdrawal, together with all other applicable Charges thereon, unless otherwise specified by YES Bank.

    7. If YES Bank temporarily or permanently, withdraw the privileges or terminates the GIFT Prepaid Card, YES Bank will on best effort basis, promptly notify the Customer. YES Bank shall not be held liable or responsible for any such delays or laches in receipt of such notification.

    8. Upon termination of the GIFT Prepaid Card as stated above, the balance amount, if any lying in the Card Account shall be refunded to the Customer subject to the payment of applicable charges by way of Pay Order / Demand Draft drawn in favor of the Customer and receipt of written request from the Customer. Customer to submit request with Yes Bank for refund of the balance amount


    • NOTICES

     

    Any notice to be given by YES Bank hereunder shall be deemed to have been received by the Customer, within seven (7) days from the date of the notice or email sent by YES Bank at the registered email or mailing address provided to or available with YES Bank. Any notice to be given by the Customer hereunder shall be deemed to have been received by YES Bank only upon acknowledgement of receipt of such notice by YES Bank at its Corporate Office Address at 22nd Floor, Indiabulls Financial Centre, Senapati Bapat Marg, Elphinstone (W), Mumbai – 400013. Any notice or communication from the Customer hereunder shall not be binding on YES Bank unless the same is in writing and shall have been served and acknowledged by YES Bank or if by registered post, acknowledgement card.


    • CHARGES
    1. Charges shall include:

      (a) Any fees charged by YES Bank in respect of the GIFT Prepaid Card, including replacement, renewal, handling and other fees, if any. These fees are non-refundable, non-transferrable and non-assignable in nature.

      (b) Service Charges on specific types of Transactions. The method of computation of such Charges will be as notified by YES Bank from time to time on its website:www.yesbank.in.

    2. All Charge, in the absence of manifest error, shall be final and binding on the Customer and shall be conclusive in nature. 

    3. All statutory taxes, goods and service tax, all other imposts, duties (including stamp duty and relevant registration charges, if any, in connection with the GIFT Prepaid Card) and taxes (of any description whatsoever) as may be levied from time to time by the Government or other authority in respect of or in connection with the GIFT Prepaid Card, will be borne by the Customer.


    • CASH WITHDRAWAL
    1. As per regulatory guidelines, cash withdrawal is not permitted.


    • LOST, STOLEN OR MISUSED GIFT PREPAID CARD: 
    1. If the GIFT Prepaid Card is lost or stolen, the Customer must immediately report such loss or theft to Customer Care Centre and request for immediate suspension of the GIFT Prepaid Card.

    2. The Customer acknowledges that once the GIFT Prepaid Card is reported lost, stolen or damaged, such GIFT Prepaid Card cannot be used again, even if found subsequently. 

    3. The Customer is responsible for the security of the GIFT Prepaid Card and shall take all steps towards ensuring that the GIFT Prepaid Card is not misused. In the event YES Bank determines or receives any information that the Customer has neglected or refused or failed to take steps as indicated above, in case of loss, theft or destruction of the GIFT Prepaid Card, YES Bank reserves the sole right to cancel or terminate such GIFT Prepaid Card.  

    4. No liability shall accrue upon the Customer for any unauthorized transactions done on the GIFT Prepaid Card, after such GIFT Prepaid Card has been reported lost, stolen or damaged by the Customer. All liabilities accrued on the GIFT Prepaid Card, post reporting by the Customer shall be borne by YES Bank. However, in case of any dispute relating to the time of reporting and/ or transaction/s made on the GIFT Prepaid Card, post reporting of the GIFT Prepaid Card being lost, stolen or misused, all decisions of YES Bank shall be final and binding on the Customer. 


    • EXCLUSION OF LIABILITY

    Without prejudice to the foregoing, YES Bank shall be under no liability or responsibility to the Customer or any third party, in respect of any loss or damage arising, directly or indirectly out of: 

    1. the refusal of any person to honour or accept the GIFT Prepaid Card
    2. any defect in any goods or services supplied
    3. any disputes regarding the quality, value warranty, delay of delivery, non delivery, non receipt of any goods or services;
    4. non functioning of GIFT Prepaid Card in the desired manner for whatsoever reason, or if the ATM is not functioning due whatsoever reasons
    5. the malfunction of any computer terminal 
    6. Any Force Majure events
    7. transfer of the GIFT Prepaid Card to any third party. 
    8. Termination of the GIFT Prepaid Card by the Customer. 
    9. Any loss or damage caused to the Customer alleged to have been caused by the repossession of the GIFT Prepaid Card by YES Bank. 
    10. Any discrepancy between the amount allocated to a GIFT Prepaid Card upon receipt of instructions in this regard from the Customer.  
    11. Any reversals done on the GIFT Prepaid Card on request of the Customer.


    • DISPUTED TRANSACTIONS
    1. Any charge or Transaction slip or other payment requisition received by YES Bank for payment shall be conclusive proof of such Charge, unless the GIFT Prepaid Card is lost, stolen or fraudulently misused and evidenced by the Customer. 

    2. All disputed Transactions in relation to the GIFT Prepaid Card shall be required to be raised with the Customer Care Centre maintained by YES Bank, within fifteen (15 )days from the date of the disputed transaction. The Customer acknowledges that any request, after 15 days from the date of the disputed transaction shall not be accepted by YES Bank.


    • QUALITY OF GOODS AND SERVICES
    1. Any dispute with or complaint against any Merchant Establishment regarding any goods purchased or services availed must be directly resolved by the Customer with the Merchant Establishment. 


    • DISCLOSURES
    1. The Customer acknowledges and consents to sharing of information pertaining to the Customer and the usage of the GIFT Prepaid Cardwith any other banks or financial or statutory or regulatory authorities.

    2. The Customer acknowledges and agrees that YES Bank may report to any other banks or financial or statutory or regulatory authorities any Customer delinquencies and/or the usage of the GIFT Prepaid Card. YES Bank shall not be obliged to disclose the details of such banks or financial or statutory or regulatory authorities to the Customer, including the extent of such disclosure. 

    3. The Customer hereby authorizes YES Bank and its agents to exchange, share or part with all the information relating to the Customer’s details and payment history with YES Bank’s group companies or Affiliates. 


    • Governing Law and Jurisdiction
    1. All disputes arising in relation to these Terms and Conditions shall be governed by and construed in accordance with the laws of India and shall be subject to the exclusive jurisdiction of the Courts of Mumbai 


    • CHANGING THESE TERMS AND CONDITIONS
    1. YES Bank reserves the sole right to change, these Terms and conditions, features and benefits offered on the GIFT Prepaid Card, including but not limited to interest charges or rates and methods of calculation.

    2. YES BANK shall communicate the amended Terms and Conditions by hosting them on its website, www.Yesbank.in, or in any other manner as decided by YES Bank. 

    3. The Customer shall be responsible for reviewing these Terms and Conditions, including amendments thereto as may be posted on the YES Bank website: www.yesbank.in and shall be deemed to have accepted the amended Terms and Conditions by continuing to use the GIFT Prepaid Card.


    • SCHEDULE OF CHARGE

     

    Fees

    Amount

    Card Issuance

    Rs. 200 per Card + Taxes

    ATM cash withdrawal 

    INR 20 + Taxes

    ATM Balance enquiry

    INR 5 + Taxes

    Annual fees

    INR 200+ Taxes

    Card Replacement 

    INR 100 + Taxes per card

     

    Nothing contained herein shall, however, prevent YES Bank from deducting tax deductible at source as required under the Applicable Laws, from any Transaction through the GIFT Prepaid Card.  

     

    • Customer Grievance Redressal
    1. In the event of any dispute or grievance in relation to the GIFT Prepaid Card and/or these Terms and Conditions, the Customer may contact the YES Bank 24 hours Customer Care number at 1800 3000 1113 or Email: goniyo.support@yesbank.in.

    2. In the event the dispute or grievance in relation to the GIFT Prepaid Card and/or these Terms and Conditions is not adequately address or resolved by the YES Bank Customer Care, the Customer may approach the YES Bank Nodal Officer details of which can be found on website of Yes Bank.

    3. YES Bank agrees that all complaints, disputes or grievances raised by the Customer shall be addressed and/or resolved in a time bound manner.

    4. The Customer may at anytime approach the Banking Ombudsman for their grievance redressal.

     

    Terms and Conditions for Yes Bank - NiYO GPR Prepaid Cards

    TERMS AND CONDITIONS
    FOR YES BANK GPR PREPAID CARDS
    The terms and conditions (hereinafter referred to as “Terms and Conditions”) mentioned herein is applicable to the usage of the “GPR Prepaid Card”, and required to be agreed to and accepted before its usage. The Terms and Conditions, specified below govern and constitute the entire agreement and/or arrangement between you and YES Bank in relation to the “GPR Prepaid Card”, as amended from time to time at the at the sole discretion of the YES Bank Limited.
    By completing the sign-up process for availing the “GPR Prepaid Card”, you are deemed to have expressly read, understood and accepted each and every Terms and Conditions mentioned herein. You agree to be bound by all the Terms and Conditions mentioned herein, as may be amended from time to time, at the sole discretion of the YES Bank Limited.

     


    • DEFINITIONS

    In this Terms and Conditions, unless the contrary intention appears and/or the context otherwise requires, capitalized terms defined by: (i) inclusion in quotations and/ or parenthesis have the meanings so ascribed; and (ii) the following terms shall have the meanings assigned to them herein below:

    1. “Account” or “Card Account” refers to a prepaid account with an account balance equivalent to amount loaded on such PPI, for the purpose of monitoring the limits available on such PPI.

    2. “Application Form” shall means as the context may permit or require, the GPR Prepaid Card application form submitted by the Customer to YES Bank for the purpose of applying for and/or availing the GPR Prepaid Card along with all requisite information, particulars, clarifications and declarations, if any, furnished by the Customer from time to time in connection with the GPR Prepaid Card.

    3. “Business Day” means a day other than a Sunday or Public Holiday as defined under Section 25 of Negotiable Instrument Act, 1881 on which banks are open to transact business of banking.

    4. “Charges” means such levy, costs and charges levied by YES Bank for usage of the GPR Prepaid Card, as amended from time to time.

    5. “Cash Limit” shall mean the maximum amount of cash that the Customer can withdraw by using the GPR Prepaid Card on any given day or for such periods as may be stipulated by YES Bank from time to time, provided that in no event shall such amount be more than the amounts transferred to the GPR Prepaid Card issued to the Customer, after deducting the aggregate debits made thereon pursuant to the use of the GPR Prepaid Card by the Customer.

    6. “Customer” or “Holder” shall mean any individual, limited liability partnership firm, partnership, society, company or any other organization or entity under applicable laws, who obtain/purchase PPIs from Bank and use the same for purchase of goods and services, including financial services, remittance facilities etc. against the value stored on such instruments

    7. “Customer Care Centre” refers to Program Phone Banking Service provided by YES Bank for addressing all queries, complaints raised by the Customer or any details or information sought by the Customer in relation to the GPR Prepaid Card.

    8. “Card Agreement” means the agreement or arrangement letter signed and executed by the Customer with YES Bank for issuance of the GPR Prepaid Card to its employees/ contractual staff and includes any amendments made thereto from time to time.

    9. “Card” or “YES BANK GPR Card” or Prepaid Instrument (PPI) shall mean a Prepaid Instrument (“PPIs”-Card/wallet) are payment instruments that facilitate purchase of goods and services, including financial services, remittance facilities etc. against the value stored on such instruments as defined in the Master Direction on Issuance and Operation of Prepaid Payment Instruments dated December 29, 2017.

    10. “EDC” or “Electronic Data Capture” means terminal, printer, other peripheral and accessory and necessary software on which the GPR Prepaid Card can be swiped or used to initiate a transaction.

    11. “Internet Payment Gateway” means the protocol stipulated/to be stipulated by YES Bank authorizing the payments through the GPR Prepaid Card via internet upon authentication of the Customer.

    12. “KYC” shall mean Know your Customer guidelines adopted by the Bank for the purpose of identification and verification of the Customer, pursuant to the guidelines, circular and notifications, issued by the Reserve Bank of India, from time to time.

    13. “Merchant Establishments” shall mean such physical establishments including but not limited to stores, shops, restaurants, hotels, located in India, which accept GPR Prepaid Card or Master Card.

    14. “Personal Identification Number (PIN)” is a numeric password which is part of the kit provided to the Customer by YES Bank along with the PPI. 

    15. “Payment Channel” shall mean various modes of transactions including but not limited to EDC/ POS terminals/kiosks / Internet Payment Gateway and various other modes as intimated by Yes Bank from time to time.

    16. “POS” or “Point of Sale” means electronic terminals maintained by Merchant Establishments in India at which the Customer can use the GPR Prepaid Card for the purpose of purchasing the goods and services, including financial services, remittance facilities etc.

    17. “Program” shall mean YES Bank program to offer the GPR Prepaid Card to the Customer.

    18. “Schedule of Fees/Charges” shall mean the details of fees or charges as may be prescribed by YES Bank from time to time and displayed on its Website, amended from time to time.

    19. “Statement” means a monthly statement of the GPR Prepaid Card transaction available in YES Bank’s records setting out the financial transactions that have been carried out or made through the GPR Prepaid Card, along with the balance, if any, in the Card Account.

    20. “Transaction” means any transaction initiated on the GPR Prepaid Card by the Customer at any MasterCard affiliated Merchant Establishment, YES Bank ATMs, other bank’s ATMs in India or over the internet.

    21. “Transaction Limit” shall mean the maximum value of purchase that the Customer can make at Merchant Establishment or over the internet directly or indirectly by using the GPR Prepaid Card on any given day or for such periods as may be stipulated by YES Bank from time to time, provided that in no event shall such amount be more than the amounts transferred to the GPR Prepaid Card issued to the Customer, after deducting the aggregate debits made thereon pursuant to the use of the GPR Prepaid Card by the Customer.

    22. “Website” shall mean the website owned, established and maintained by YES Bank located at the URL: www.yesbank.in or any modifications or amendments thereto from time to time.

    23. “YES Bank” shall mean YES Bank Ltd., a banking company within the meaning of the Companies Act 1956 and a banking company within the meaning of section 5 (c) of the banking Regulation Act, 1949, having its registered office at Nehru Centre, 9th Floor, Discovery of India, Dr A B Road, Worli, Mumbai 400 018.


    • INTERPRETATIONS

    In these Terms and Conditions, unless the contrary intention appears:

    1. a reference to an “amendment” includes a supplement, modification, novation, replacement or reenactment and “amended” is to be construed accordingly;

    2. an “authorization” or “approval” includes an authorisation, consent, clearance, approval, permission, resolution, license, exemption, filing and registration;

    3. “law” includes any constitution, statute, law, rule, regulation, ordinance, judgment, order, decree, authorisation, or any published directive, guideline, requirement or governmental restriction having the force of law, or any determination by or interpretation of any of the foregoing by any judicial authority, whether in effect as of the date of signing/submission of the Application Form or thereafter, and each as amended from time to time.

    4. “Force Majeure Event” means any event due to any cause beyond the reasonable control of the YES BANK, including without limitations, unavailability of any communication systems, breach, or virus in the processes or payment or delivery mechanism, sabotage, fire, flood, explosion, acts of god, civil commotion, strikes or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, unauthorized access to computer data and storage devices, computer crashes, malfunctioning in the computer terminal or the systems getting affected by any malicious, destructive or corrupting code or program, mechanical or technical errors/failures or power shut down, faults or failures in telecommunication etc.

    5. the singular includes the plural and vice versa;

    6. the headings in these Terms and Conditions are inserted for convenience of reference only

    7. reference to the words “include” or “including” shall be construed without limitation;

    8. reference to a gender shall include reference to the female, male and neuter genders;

    9. all approvals, permissions, consents or acceptance required from YES Bank for any matter shall require the prior written approval, permission, consent or acceptance of YES Bank;

    10. in the event of any disagreement or dispute between YES Bank and the Customer regarding the materiality of any matter including any event, occurrence, circumstance, change, fact, information, document, authorisation, proceeding, act, omission, claims, breach, default or otherwise, the opinion of YES Bank as to the materiality of any of the foregoing shall be final and binding on the Customer.

    APPLICABILITY OF TERMS AND CONDITIONS:

    1. These Terms and Conditions along with the General Terms and Conditions cumulatively form the entire contract between the Customer and YES Bank for usage of the GPR Prepaid Card.

    2. The GPR Prepaid Card shall be issued by YES Bank, subject to the Customer fulfilling the eligibility criteria as stipulated by YES Bank, from time to time.

    3. The GPR Prepaid Card shall not be transferable to other individual or party

    4. The maximum credit balance which can be uploaded on the GPR Prepaid Card shall be limited to INR 50,000/- (Rupees Fifty Thousand Only).

    5. The GPR Prepaid Card shall be valid only within the territory of India and for transactions in Indian Rupees only. The GPR Card cannot be used outside the territory of India or for any transactions denominated in foreign currency.

    6. The GPR Prepaid Card is the exclusive property of YES Bank.

    7. The Customer shall be required sign on the reverse side of the GPR Prepaid Card immediately upon its receipt. YES Bank reserves the right to reject or cancel any Transaction in absence of the signature or mismatch of the signature, without further notice or intimation to the Customer.

    8. The GPR Prepaid Card can be used at the Automated Teller Machines (“ATMs”) for withdrawal of cash by the Customer within the credit limit specified for the GPR Prepaid Card. These are open loop cards and can be used for cash withdrawal at ATM.

    9. YES Bank shall not be liable to pay any interest on any balance maintained in the GPR Prepaid Card at any point in time.

    10. YES Bank will inform or intimate the Customer 45 days prior to the expiry of the GPR Prepaid Card through SMS on the registered mobile number of the Customer. Customer needs to utilize the entire credit balance available on the GPR Prepaid Card prior to the expiry of the GPR Prepaid Card. In case the Customer does not utilize the credit balance available on the GPR Prepaid Card within the validity period, the Customer can approach YES Bank for refund/transfer of outstanding balance to the account maintained with YES Bank or any other bank account of the Customer. In case the Customer does not approach YES Bank within a specified period,, the outstanding credit balance available on the GPR Prepaid Card will be transferred to aFund in compliance with the regulatory guidelines.


    • ISSUANCE AND USAGE OF THE CARD
    1. The Customer unconditionally and irrevocably authorizes YES Bank to deliver and handover the GPR Prepaid Card to the Customer or the entity which will distribute it to the Customer(s). YES Bank shall not be liable or responsible for any act or omission on the part of the entity, in connection with the delivery of the GPR Prepaid Card to the Customer.

    2. YES Bank and the Merchant Establishments, reserves the right to refuse the acceptance of the GPR Prepaid Card at any time for any reasons whatsoever, without any prior intimation to the Customer.

    3. The GPR Prepaid Card shall be used only for bonafide personal or official purposes. It is clarified that charges incurred may, in case of certain Merchant Establishments, include a charge for availing certain additional service or other facility being provided by such Merchant Establishments.

    4. The Customer shall sign and retain all the charge slips generated for each of the Transaction consummated at a Merchant Establishment. YES Bank shall not be obliged to provide copies of the charge slips or transaction slips to the Customer. Any such request by the Customer will be at the sole discretion of YES Bank and provided such requests have been made by the Customer within forty-five (45) days from the date of the Transaction. The Customer agrees that YES Bank shall be entitled to charge additional cost or charge for providing copies of the charge or transaction slips

    5. Any charge or cost levied by the Merchant Establishment in relation to any Transaction, shall be directly settled by the Customer with the Merchant Establishment. YES Bank shall not be liable or responsible, either directly or indirectly, for any act or omission on the part of the Master Merchant or the charges or cost levied by them in relation to the Transaction.

    6. All refunds and adjustments due to any Merchant Establishments on account of device error or communication link will be processed manually and the Card Account will be credited after due verification by YES Bank pursuant to the applicable rules, regulation and internal policy of YES Bank. The Customer agrees that any subsequent Transactions will be accepted or honored only basis the available credit balance in the Card Account(s) without taking into account any disputed amount under consideration by YES Bank. The Customer shall unconditionally keep YES Bank indemnified against any loss or damage caused to YES Bank on account of dishonoring the payment instructions as a result of insufficient funds in the Card Account. The Customer agrees that YES Bank shall be entitled to deduct the amount of such loss or damaged caused to YES Bank directly from the Card Account.

    7. The Customer acknowledges that all refunds in case of failed, returned, rejected or cancelled Transactions done by the Customer using any other payment instrument cannot be credited in the GPR Prepaid Card.

    8. The Card Member undertakes to act in good faith at all times in relation to all dealings in relation to the GPR Prepaid Card. The Customer accepts full responsibility for any illegal or wrongful use of the GPR Prepaid Card in contravention to the Terms and Conditions contained herein and, undertakes and agrees to indemnify YES Bank against any loss, damage, interest, conversion, any other financial charge that YES Bank may incur and/or suffer, whether directly or indirectly, as a result of the Customer committing any violations of the Terms and Conditions contained herein.

    9. The Customer agrees that he/she will not use the GPR Prepaid Card for making payment(s) of any goods and services, which is illegal under the Applicable laws. The GPR Prepaid Card cannot be used for making purchases of prohibited or contraband products or services, e.g. lottery tickets, banned or prohibited magazines, participation in sweepstakes, purchase of bitcoins, payment for call-back services, etc.

    10. The Customer hereby acknowledges and agrees that the GPR Prepaid Card shall not be loaded or reloaded by YES Bank, for an amount exceeding Rs. 50,000.00 (Rupees fifty thousand only).

    11. The Customer hereby acknowledges and agrees that if there are no Transaction for a consecutive period of one (1) year on the GPR Prepaid Card, subject to validity of the the GPR Prepaid Card, the GPR Prepaid Card shall be made inactive by YES Bank after sending a notice to the Customer. The GPR Prepaid Card can only be reactivated by YES Bank after validations and requisite due diligence, as stipulated by YES Bank, from time to time.

    12. The Customer hereby agrees to receive SMS or emailing alerts from YES Bank for all Transactions done using the GPR Prepaid Card. The SMS or emailing alerts from YES Bank shall stipulate debit and credit Transactions, balance available or remaining on the GPR Prepaid Card or such other information or details as stipulated by YES Bank, from time to time.

    13. The Customer agrees and confirms that the Personal Identification Number (“PIN”) shall under no circumstances should be revealed by the Customer to any relative or family members or third party. The Customer shall be solely responsible and liable for the consequences arising out of such unauthorized disclosure of PIN and/or unauthorized usage of the GPR Prepaid Card. The Customer disclaims all responsibility and liability of YES Bank arising out of or in connection with the unauthorized usage of the GPR Prepaid Card and/or any loss or damage, whether direct or indirect, incurred by YES Bank as a result of such misuse. If the Customer forgets or misplaces the PIN, the Customer should make an application in writing or contact the Customer Care Centre for a new PIN immediately. The new PIN will be sent to the Customer’s registered email address, provided to or available with the YES Bank.

    14. The Customer agrees that YES 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 services.

    15. The Customer shall have access to Frequently Asked Questions (“FAQ”) as uploaded by YES Bank on its Website, from time to time.


    • BREACH
    1. In the event of any breach of these Terms and conditions by the Customer, YES Bank shall have the sole right to forthwith cancel or terminate the GPR Prepaid Card, without any further claim, demand or dispute upon YES Bank.

    2. The Customer undertakes and agrees to indemnify YES Bank against any loss, damage, claim, penalty, cost, charges or expenses (including legal counsel fees) that YES Bank may incur and/or suffer, whether directly or indirectly, as a result of the Customer committing any breach of the Terms and Conditions contained herein.


    • TERM & TERMINATION
    1. The GPR Prepaid pocket shall be valid for a period of three (3) years from date of printing or until the expiry date printed on the face of the GPR Prepaid Card.

    2. The Customer agrees and undertakes to destroy the GPR Prepaid Card upon its expiry to prevent any third party from using it.

    3. The Customer may at any point of time, request for termination of the GPR Prepaid Card, by giving a prior written notice of thirty (30) days to YES Bank, save and except, upon request by the Customer for hot listing or blocking the GPR Prepaid Card, in which case the GPR Prepaid Card shall be terminated and/or cancelled with immediate effect.

    4. The Customer understands that such notice will not take effect until the GPR Prepaid Card has been defaced by cutting off the top right-hand corner, ensuring that both the hologram and the magnetic strip have been cut and has been destroyed or received by YES Bank. The Customer agrees that the Customer shall continue to be liable for any Charges incurred on the GPR Prepaid Card prior to the termination of the GPR Prepaid Card, irrespective of the fact whether the Customer has or claims to have destroyed the GPR Prepaid Card.

    5. YES BANK may at its sole discretion terminate the GPR Prepaid Card
      (i) In the event the Customer is declared insolvent or death of the Customer

      (ii) In the event of the Customer committing breach of any of the terms, conditions, stipulations or its obligations under these ‘“Terms and Conditions”’

      (iii) In the event of any restriction imposed on the Customer by an Order of a competent Court or Order issued by any regulatory or statutory authority in India or any investigating agency.

      (iv) In the event the GPR Prepaid Card Program becomes illegal under the applicable laws, rules, guidelines or circular.

      (v) In the event the entire GPR Prepaid Card Program is terminated.

    6. YES Bank, at its sole discretion, reserves the right to, either temporarily or permanently, withdraw the privileges on the GPR Prepaid Card and/or terminate the GPR Prepaid Card at any time without giving any notice or assigning any reason thereof. In case of a temporary withdrawal, the privileges attached to the GPR Prepaid Card shall be reinstated by YES Bank at its sole discretion. In case of a permanent withdrawal, YES Bank has a right to cancel the GPR Prepaid Card permanently. However, it is made distinctly clear that withdrawal (temporary or permanent) shall constitute automatic withdrawal of all benefits, privileges and services attached to the GPR Prepaid Card. The Customer agrees that in the event of temporary or permanent withdrawal of the GPR Prepaid Card, the Customer shall continue to be fully liable for all Charges incurred on the GPR Prepaid Card prior to such withdrawal, together with all other applicable Charges thereon, unless otherwise specified by YES Bank.

    7. If YES Bank temporarily or permanently, withdraw the privileges or terminates the GPR Prepaid Card, YES Bank will on best effort basis, promptly notify the Customer. YES Bank shall not be held liable or responsible for any such delays or laches in receipt of such notification.

    8. Upon termination of the GPR Prepaid Card as stated above, the balance amount, if any lying in the Card Account shall be refunded to the Customer subject to the payment of applicable charges by way of Pay Order / Demand Draft drawn in favor of the Customer and receipt of written request from the Customer. Customer to submit request with Yes Bank for refund of the balance amount


    • NOTICES


    Any notice to be given by YES Bank hereunder shall be deemed to have been received by the Customer, within seven (7) days from the date of the notice or email sent by YES Bank at the registered email or mailing address provided to or available with YES Bank.

    Any notice to be given by the Customer hereunder shall be deemed to have been received by YES Bank only upon acknowledgement of receipt of such notice by YES Bank at its Corporate Office Address at 22nd Floor, Indiabulls Financial Centre, Senapati Bapat Marg, Elphinstone (W), Mumbai – 400013.

    Any notice or communication from the Customer hereunder shall not be binding on YES Bank unless the same is in writing and shall have been served and acknowledged by YES Bank or if by registered post, acknowledgement card.


    • CHARGES
    1. Charges shall include:
      (a) Any fees charged by YES Bank in respect of the GPR Prepaid Card, including replacement, renewal, handling and other fees, if any. These fees are non-refundable, non-transferrable and non-assignable in nature.

      (b) Service Charges on specific types of Transactions. The method of computation of such Charges will be as notified by YES Bank from time to time on its website:www.yesbank.in.

    2. All Charge, in the absence of manifest error, shall be final and binding on the Customer and shall be conclusive in nature.

    3. All statutory taxes, goods and service tax, all other imposts, duties (including stamp duty and relevant registration charges, if any, in connection with the GPR Prepaid Card) and taxes (of any description whatsoever) as may be levied from time to time by the Government or other authority in respect of or in connection with the GPR Prepaid Card, will be borne by the Customer.

    • CASH WITHDRAWAL
    1. The Customer can use the GPR Prepaid Card to access emergency cash withdrawal from YES Bank ATM’s and ATM’s of member bank. However, the total amount that which may be withdrawn at any point of time, shall not exceed the available balance in the GPR Prepaid Card or such limits as stipulated by the Reserve Bank of India from time to time.


    • LOST, STOLEN OR MISUSED GPR PREPAID CARD:

    1. If the GPR Prepaid Card is lost or stolen, the Customer must immediately report such loss or theft to Customer Care Centre and request for immediate suspension of the GPR Prepaid Card.

    2. The Customer acknowledges that once the GPR Prepaid Card is reported lost, stolen or damaged, such GPR Prepaid Card cannot be used again, even if found subsequently.

      The Customer is responsible for the security of the GPR Prepaid Card and shall take all steps towards ensuring that the GPR Prepaid Card is not misused. In the event YES Bank determines or receives any information that the Customer has neglected or refused or failed to take steps as indicated above, in case of loss, theft or destruction of the GPR Prepaid Card, YES Bank reserves the sole right to cancel or terminate such GPR Prepaid Card.

    3. No liability shall accrue upon the Customer for any unauthorized transactions done on the GPR Prepaid Card, after such GPR Prepaid Card has been reported lost, stolen or damaged by the Customer. All liabilities accrued on the GPR Prepaid Card, post reporting by the Customer shall be borne by YES Bank. However, in case of any dispute relating to the time of reporting and/ or transaction/s made on the GPR Prepaid Card, post reporting of the GPR Prepaid Card being lost, stolen or misused, all decisions of YES Bank shall be final and binding on the Customer.


    • EXCLUSION OF LIABILITY

    Without prejudice to the foregoing, YES Bank shall be under no liability or responsibility to the Customer or any third party, in respect of any loss or damage arising, directly or indirectly out of:

    1. any defect in any goods or services supplied

    2. any disputes regarding the quality, value warranty, delay of delivery, non delivery, non receipt of any goods or services;

    3. the refusal of any person to honour or accept the GPR Prepaid Card

    4. non functioning of GPR Prepaid Card in the desired manner for whatsoever reason, or if the ATM is not functioning due whatsoever reasons

    5. the malfunction of any computer terminal

    6. Any Force Majure events

    7. transfer of the GPR Prepaid Card to any third party.

    8. Termination of the GPR Prepaid Card by the Customer.

    9. Any loss or damage caused to the Customer alleged to have been caused by the repossession of the GPR
      Prepaid Card by YES Bank.

    10. Any discrepancy between the amount allocated to a GPR Prepaid Card upon receipt of instructions in this regard from the Customer.

    11. Any reversals done on the GPR Prepaid Card on request of the Customer.


    • DISPUTED TRANSACTIONS
    1. Any charge or Transaction slip or other payment requisition received by YES Bank for payment shall be conclusive proof of such Charge, , unless the GPR Prepaid Card is lost, stolen or fraudulently misused and evidenced by the Customer.

    2. All disputed Transactions in relation to the GPR Prepaid Card shall be required to be raised with the Customer Care Centre maintained by YES Bank, within fifteen (15 )days from the date of the disputed transaction. The Customer acknowledges that any request, after 15 days from the date of the disputed transaction shall not be accepted by YES Bank.


    • QUALITY OF GOODS AND SERVICES
    1. Any dispute with or complaint against any Merchant Establishment regarding any goods purchased or services availed must be directly resolved by the Customer with the Merchant Establishment.


    • DISCLOSURES
    1. The Customer acknowledges and consents to sharing of information pertaining to the Customer and the usage of the GPR Prepaid Cardwith any other banks or financial or statutory or regulatory authorities. .

    2. The Customer acknowledges and agrees that YES Bank may report to any other banks or financial or statutory or regulatory authorities any Customer delinquencies and/or the usage of the GPR Prepaid Card. YES Bank shall not be obliged to disclose the details of such banks or financial or statutory or regulatory authorities to the Customer, including the extent of such disclosure.

    3. The Customer hereby authorizes YES Bank and its agents to exchange, share or part with all the information relating to the Customer’s details and payment history with YES Bank’s group companies or Affiliates.


    • Governing Law and Jurisdiction
    1. All disputes arising in relation to these Terms and Conditions shall be governed by and construed in accordance with the laws of India and shall be subject to the exclusive jurisdiction of the Courts of Mumbai


    • CHANGING THESE TERMS AND CONDITIONS

    YES Bank reserves the sole right to change, these Terms and conditions, features and benefits offered on the GPR Prepaid Card, including but not limited to interest charges or rates and methods of calculation.

    1. YES BANK shall communicate the amended Terms and Conditions by hosting them on its website, www.Yesbank.in, or in any other manner as decided by YES Bank.
    2. The Customer shall be responsible for reviewing these Terms and Conditions, including amendments thereto as may be posted on the YES Bank website: www.yesbank.in and shall be deemed to have accepted the amended Terms and Conditions by continuing to use the GPR Prepaid Card.


    • SCHEDULE OF CHARGES

       

      Fees

      Amount

      Card Issuance

      Rs. 200 per Card + Taxes

      ATM cash withdrawal 

      INR 20 + Taxes

      ATM Balance enquiry

      INR 5 + Taxes

      Annual fees

      INR 200+ Taxes

      Card Replacement 

      INR 100 + Taxes per card


    Nothing contained herein shall, however, prevent YES Bank from deducting tax deductible at source as required under the Applicable Laws, from any Transaction through the GPR Prepaid Card.


    • Customer Grievance Redressal
    1. In the event of any dispute or grievance in relation to the GPR Prepaid Card and/or these Terms and Conditions, the Customer may contact the YES Bank 24 hours Customer Care number at 1800 3000 1113 or Email: goniyo.support@yesbank.in.

    2. In the event the dispute or grievance in relation to the GPR Prepaid Card and/or these Terms and Conditions is not adequately address or resolved by the YES Bank Customer Care, the Customer may approach the YES Bank Nodal Officer details of which can be found on website of Yes Bank.

    3. YES Bank agrees that all complaints, disputes or grievances raised by the Customer shall be addressed and/or resolved in a time bound manner.

    4. The Customer may at anytime approach the Banking Ombudsman for their grievance redressal.