Key Fact Statement –TripMoney Global Cash Card

The TripMoney Global Cash Card is issued by SBM Bank (India) Ltd (“SBM Bank” or “Bank”) in

partnership with Happay i.e. the solution, owned and operated by VA Tech Ventures Pvt Ltd.

(“Happay”). This is a Credit Card and will reflect in your Credit Bureau reports. The Credit Limit

is equal to the amount loaded to the card.

Fees and Charges

18% GST Applicable

Joining fee for Primary or Add-on cardholder

Rs. 499

Annual Membership fee for Primary or Add-on

cardholder

Nil

Issuance Fee (Add-on cardholder)

● Plastic Card

Rs. 299

Card Cancellation Fee

Nil

Cash Advance Fee

ATM withdrawal fee:

● Domestic ATM Withdrawal fee

● International ATM withdrawal fee*

● Nil

● Rs. 20/transaction

● Rs.450/transaction

Funds Loading Charges

● Nil

Funds Transfer Charges

● Nil

Service Charges levied for transactions:

● Rewards Redemption Fee

● Forex Markup Fee

● Over Limit Fee

● Nil

● 0%

● Nil

Interest Free Period**

(30+3) days

Interest Rate

24% p.a.

Late Payment Charges

Rs.100 per instance

Repayment Charges

Not applicable

(Levied to offset any higher charges imposed by

payment gateways for processing transactions via

select card BINs.)

Minimum Amount Date (MAD)***

Not applicable

Card based dispute fee on disputes escalated with

VISA

*This is not for normal queries or disputes raised

by customer with TripMoney or SBM

Rs.200/ dispute

ATM Balance Enquiry Fee:

● International ATM*

● Domestic ATM

● In App

● Rs. 225*

● Rs. 10

● Rs. 0

Drawal Limits

Credit Limit

Pls refer the

TripMoney app

Available Credit Limit

Pls refer the

TripMoney app

Cash Withdrawal Limit

Rs. 50,000 per

transaction in

International ATMs

Pls note:

i) Goods and Service Tax is applicable on all fees, interest, and other charges

ii) Bank has a revenue sharing arrangement with the co-brand partner for per

customer sourcing for marketing and servicing activity

*Variable Access Fee may be levied additionally by some Acquiring Banks or ATM

Networks

** Illustration on Interest Free (grace) period

Interest- Free (Grace) Period: Interest free period is 30 days from statement end date with

grace period of 3 days.

Illustrative Example for the calculation of grace period: For a statement for the

period from Jan 20, 2020 to Feb 20, 2020 the payment due date would be 22nd

March 2020. Assuming that you have paid your Total Amount Due of the previous

month statement by the payment due date, the grace period would be: For a

purchase dated 25th Jan 2020, the interest-free grace period is from 25th Jan 2020

to 25nd Mar 2020 i.e. 57 days.

For a purchase dated 19th Feb 2020 the interest-free grace period is from 19th Feb

2020 to 25nd March 2020 i.e.63 days.

Thus, the grace period can vary depending upon the date of purchase. However, if the Total

Amount Due is not paid by the payment due date, then there will be no interest free period. For

cash advances, interest is charged from the date of the transaction until the date of payment.

Billing Statement: Your billing statement will be generated every month. It will contain a break-

up of all purchases, repayments, fees, interest charges, refunds and taxes. In case the card was

not used in a month, the statement will mention there were no spends in that month.

Mode of sending statement: The billing statement will be shared over email, on a monthly basis

to you, and will also be available on your app.

***Minimum Amount Due: Without prejudice to the liability of the Card Holder to immediately

pay all charges incurred, the Card Holder may exercise the option to pay only the minimum

amount due indicated in the statement (“Minimum Amount Due”) by the due date. The

Minimum Amount Due shall be 100% of the outstanding amount. In case of any repayment

through installments, the installment amount due during the statement period will be added to

the Minimum Amount Due. If the total outstanding is more than the credit or cash limit, then

the amount by which the credit or cash limit has been exceeded will also be included in the

Minimum Amount Due. Minimum Amount Due shall also include unpaid Minimum Amount Due

of the previous statements, if any. Interest will be charged if the Total Amount Due is not paid

by the payment due date even if the Minimum Amount Due has been paid.

Method of payment

You can pay the outstanding dues from the App itself, through the following modes:

Debit Card b) Netbanking c) UPI d) IMPS/NEFT.

Billing Disputes Resolution : In case of any query or a dispute on any transaction, you must

inform us within 30 days of receipt of the statement, by using any of the contact particulars

stated below. We will assist you by providing information in relation to charges to the card

account. A temporary suspension would be applied on the disputed transaction while under

investigation. This would be resolved within a maximum of __ days.

Complete Postal Address of card issuer: SBM Bank (India) Limited, 1st Floor, Raheja Center,

Free Press Journal Marg, Nariman Point, Mumbai, Maharashtra, India, 400021

Grievance Resolution

SBM Bank (India) Limited Helpline Number: 1860 260 1111

Email id:

If you are not satisfied with the response from regular channels, you can escalate the issue

by sending an email to support@tripmoney.com

For any escalation beyond this level, you can reach out to the bank at

customercare@sbmbank.co.in or at 1800 1033 817 or you can contact the Nodal Officer at

nodal.officer@sbmbank.co.in

Contact details of Grievance Redressal Official:

https://www.sbmba nk.co.in/aboutus/grievance-redressal-mechanism.php

MOST IMPORTANT TERMS AND CONDITIONS

The Most Important Terms and Conditions (“MITC”) are to be read and understood in

conjunction with the Terms and Conditions.

The TripMoney Global Cash Card is issued by SBM Bank (India) Ltd (“SBM Bank” or “Bank”) in

partnership with Happay i.e. the solution, owned and operated by VA Tech Ventures Pvt Ltd.

(“Happay”) . This is a Credit Card and will reflect in your Credit Bureau reports. The Credit Limit

is equal to the amount loaded to the card.

1. USE OF THE CARD

(a) In case of an internationally valid Card, the Card is valid world-wide. In case of other

Cards the use is restricted at only the merchant accepting VISA in India. However, SBM

Bank and the merchant concerned, reserve the right, at any time, to refuse the use of

the Card at that merchant for any reason whatsoever. The Card may be used only for

bonafide personal or official purposes and its use is not permitted to be exploited by the

Card Holder. In the event any charge for the availment of the purchase or other facility

is levied by the merchant, on the charges incurred by the Card Holder, the same shall be

settled with the merchant and SBM Bank shall in no manner be held liable for the same.

On usage of the Card at the merchant, the Card Holder must collect the copy of the

charge-slips at the time of signing the charge-slip. The Card Holder shall be responsible

for signing the charge-slip; in the event the charge-slip is not signed by the Card Holder,

the Card Holder shall continue to be liable for the transaction/s and all charges in relation

thereto. SBM Bank shall not provide copies of the charge slips to the Card Holder;

provided however if the Card Holder makes such request within forty-five days of the

relevant transaction, SBM Bank may, at its sole discretion, provide copies of the charge

slips at a charge mentioned in the Tariff Annexure. SBM Bank may, at its sole discretion

agree to provide the Card Holder with the facility of effecting mail order or telephone

order purchases. The Card Holder is aware that in case of mail order telephone order or

mobile purchases, the charge slips will not be signed by the Card Holder at the time of

the purchase. Accordingly, the Card Holder accepts that, even in the event of any dispute

regarding the authenticity or validity of such a purchase or a charge, for any reason

whatsoever, the Card Holder will make payment to SBM Bank of all out standings due.

(b) All disputes shall be a matter between and will be settled by the Card Holder with the

concerned merchant. SBM Bank shall not be liable, in any manner whatsoever, for the

same.

and (ii) not after the last date of the month embossed on its face.

(d) The Card Holder’s right to use the Card shall determine forthwith: (i) In the event of

termination pursuant; or (ii) in the event of loss /misuse or theft of Card.

(e) By usage of the Card, Card Holder is deemed to have made a standing request that

renewal of period of the Card and/ or replacement Cards be issued to each Card Holder

until such time as the SBM Bank Customer Care Centre/ internet banking is notified

otherwise by the Card Holder, and such renewal and/or replacement shall be subject to

the sole discretion of SBM Bank.

(f) In the event of a Card program closure or at the time of renewal of Card, SBM Bank

Limited at its sole discretion reserves the right to provide a card type that is different

from the existing Card type held by the Card Holder. The credit limits and cash limits on

any Card at any point in time are as per sole discretion of SBM Bank Limited.

(g) The Card Holder shall act in good faith at all times in relation to all dealings with the Card

and SBM Bank.

(h) The internationally valid Card issued to the Card Holder is valid world-wide except for

payment in foreign exchange at merchant in Nepal & Bhutan. In respect of Cards, the

use of which is restricted only in India / Nepal / Bhutan, use outside India / Nepal /

Bhutan is a breach of the “Foreign Exchange Management Act” (FEMA) or any other

corresponding law. The Card Holder accepts full responsibility for wrongful use in

contravention to these conditions and undertakes and agrees to indemnify SBM Bank to

make good any loss, damage, interest, conversion, any other financial charge that SBM

Bank may incur and / or suffer as a result of the Card Holder committing violations of the

provisions thereof. (i) Internationally valid Card can be used on Internet for any purpose

for which exchange can be purchased from an Authorised Dealer in India.

(i) Internationally valid Card and all other Cards cannot be used on Internet or otherwise

for purchase of prohibited items like lottery tickets, banned or proscribed magazines,

participation in sweepstakes, payment for callback services, remittance in any form

towards overseas forex trading, margin calls to overseas exchanges/overseas

counterparty, trading in foreign exchange in domestic/overseas markets etc.

(j) SBM Bank reserves the absolute discretion and liberty to decline or honour the

authorisation requests on the Card without assigning any reason. In certain cases,

subject to its sole discretion, SBM bank may require the Card Holder to contact SBM

Bank Customer Care Centre to authenticate the transaction before approving it and

charging to the Card Account (as defined under Clause 4 below). (i) The Card Holder

agrees that he will not use the Card as payment for any illegal/unlawful

purchase/purposes. (ii) The Card is issued for Business expenses and purposes only. The

Card should be used only for lawful, bonafide purposes and must not be used for any

money laundering, anti-social or speculative activities.

(k) If the Card is found to be used for prohibited, restricted, or any purposes as mentioned

above, SBM Bank may, at its sole discretion, exercise its right to close the concerned

Card and additional/add-on cards thereof, without any notice to the Cardholder. SBM

Bank has the right to enquire over phone or through other means of formal

communication and ‘seek details, information, proofs, etc. about the Card transactions,

pattern of usage etc. and the Cardholder is contractually bound to provide the

information sought by SBM Bank, from time to time. Non- satisfactory responses or no

responses from the Cardholder may lead to blocking/closure of the Card by SBM Bank.

(i)The Cardholder must not obtain or introduce credit to the Card Account for any reason

other than as refund for any goods or services previously purchased with the Card.

Transactions on the Card will be allowed only up to the un-used amount of total credit

limit on the Card Account (as defined under Clause 4 hereinbelow).

2. FEES AND CHARGES

Please note that the entire Schedule of Fees and Charges (given below), benefits and

features may change at any point of time at the discretion of SBM Bank without prior

notice to customers

i. Schedule of Charges of TripMoney Global Cash Card (Issued by SBM Bank (India)

Limited:

Fees and Charges

18% GST Applicable

Joining fee for Primary or Add-on cardholder

Rs. 499

Annual Membership fee for Primary or Add-on

cardholder

Nil

Issuance Fee (Add-on cardholder)

● Plastic Card

Rs. 299

Card Cancellation Fee

Nil

Cash Advance Fee

ATM withdrawal fee:

● Nil

● Domestic ATM Withdrawal fee

● International ATM withdrawal fee*

● Rs. 20/transaction

● Rs.450/transaction

Funds Loading Charges

●

Funds Transfer Charges

●

Service Charges levied for transactions:

●

● Rewards Redemption Fee

● Forex Markup Fee

● Over Limit Fee

● Nil

● 0%

● Nil

Interest Free Period**

(30+3) Days

Interest Rate

24% p.a.

Late Payment Charges

Rs.100 per instance

Repayment Charges

(Levied to offset any higher charges imposed by

payment gateways for processing transactions via

select card BINs.)

Not applicable

Minimum Amount Date (MAD)***

Not applicable

Card based dispute fee on disputes escalated with

VISA

*This is not for normal queries or disputes raised

by customer with TripMoney or SBM

Rs.200/ dispute

ATM Balance Enquiry Fee:

● International ATM*

● Domestic ATM

● In App

● Rs. 225*

● Rs. 10

● Rs. 0

Drawal Limits

Credit Limit

Pls refer the

TripMoney app

Available Credit Limit

Pls refer the

TripMoney app

Cash Withdrawal Limit

Rs.50,000 per

transaction in

International ATMs

Pls note:

i) Goods and Service Tax is applicable on all fees, interest, and other charges

ii) Bank has a revenue sharing arrangement with the co-brand partner for per

customer sourcing for marketing and servicing activity.

*Variable Access Fee may be levied additionally by some Acquiring Banks or ATM

Networks

The cardholders are required to withdraw the funds from the card in the event of non-

renewal of the card.

ii. Finance Charges

The interest rate may vary dynamically based on the customer’s repayment

behavior and performance.

iii. Other Fees and Charges

Charges in foreign currency: If a transaction is made in a currency other than Indian

Rupees, that transaction will be converted into Indian Rupees.The conversion will

take place on the date the transaction is settled with SBM Bank, which may not be

the same date on which the transaction was made.If the transaction is not in US

Dollars, the conversion will be made through US Dollars, by converting the charged

amount into US Dollars and then by converting the US Dollar amount into Indian

Rupees.

Unless a specific rate is required by applicable law, the conversion rate from US Dollar to

Indian Rupees will be at the rates provided by VISA on such transactions.

iv.Finance Charges

a. Interest will be charged if the total amount due as specified in the monthly

statement (“Total Amount Due”) is not paid by the payment due date.Interest will

be charged on the Total Amount Due and on all new transactions ( from the

transaction date) till such time as the previous outstanding amounts are paid in

full.Also, interest will be levied on all cash advances from the date of the

transaction until the date of payment.

b. The rate of interest may be changed at the sole discretion of SBM Bank.

c. The following illustration will indicate the method of calculating interest charges:

In the ul given below, it has been assumed that the Total Amount Due of the

previous month statement has been paid by the payment due date and there is

no outstanding amount.The statement date is 20th of every month. Given these

assumptions, interest will be calculated as below:

GST will be applicable on interest charges.

Late Payment Charges (LPC): Late payment charges will be applicable if the Minimum

Amount Due is not paid by the payment due date.

Illustrative Example for Calculation of Late Payment Charges:

Payment of at least Minimum Amount Due i.e.Rs 5000 in the above example, is

required to be paid by the payment due date (13th Feb 2020), to ensure that no late

payment charges are levied.If minimum amount due is not paid, late payment

charges would be levied as per the below ul:

Total Amount Due

Rs.100 per instance

Thus, in the above example, since the minimum amount due of ₹5000 is not paid by

the payment due date of 13th Feb 2020 and since Total Amount Due was ₹5000, late

payment charges of ₹ 100 will be levied on 14th Feb, 2020. This charge will also be

applicable if you make a payment of less than the minimum amount due by the

payment due date.GST will be applicable on late payment charges.

v.Interest- Free (Grace) Period: Interest free period is 30 days from statement end date

with grace period of 3 days.

Illustrative Example for the calculation of grace period: For a statement for the

period from Jan 20, 2020 to Feb 20, 2020 the payment due date would be 22nd

March 2020. Assuming that you have paid your Total Amount Due of the previous

month statement by the payment due date, the grace period would be: For a

purchase dated 25th Jan 2020, the interest-free grace period is from 25th Jan 2020

to 25nd Mar 2020 i.e.57 days.

For a purchase dated 19th Feb 2020 the interest-free grace period is from 19th Feb

2020 to 25nd March 2020 i.e.63 days.

Thus, the grace period can vary depending upon the date of purchase.However, if

the Total Amount Due is not paid by the payment due date, then there will be no

interest free period.For cash advances, interest is charged from the date of the

transaction until the date of payment.

3. WITHDRAWAL LIMITS:

The credit limit and cash withdrawal limit are communicated at the time of delivery of

the Card and are also indicated in the monthly statements.Available credit limit is

calculated by deducting the utilized limit from the total credit limit.In case the holder of

the Card (“Card Holder”) has availed of any loan within the credit limit on the Card, the

outstanding loan amount will also be deducted from the Total Credit Limit to arrive at

the available credit limit.

4. BILLING

i. Billing Statements – periodicity and mode of sending: All Card Holder will be billed on

a monthly basis for all charges incurred by the use of the Card and for all charges

applicable to the respective account related to the Card (“Card Account”).However,

there may be no statement generated for the period in which there has been no

outstanding due and no transaction on the account in the past month. The billing

statement will be dispatched on a monthly basis to by e-mail.

ii. Minimum Amount Payable: Without prejudice to the liability of the Card Holder to

immediately pay all charges incurred, the Card Holder may exercise the option to pay

only the minimum amount due indicated in the statement (“Minimum Amount Due”)

by the due date.The Minimum Amount Due shall be 100% of the outstanding

amount.In case of any repayment through installments, the installment amount due

during the statement period will be added to the Minimum Amount Due.If the total

outstanding is more than the credit or cash limit, then the amount by which the credit

or cash limit has been exceeded will also be included in the Minimum Amount

Due.Minimum Amount Due shall also include unpaid Minimum Amount Due of the

previous statements, if any.Interest will be charged if the Total Amount Due is not

paid by the payment due date even if the Minimum Amount Due has been paid.

Auto Debit: If customer has registered for auto debit facility towards Card repayment

and has selected Minimum Amount Due option then the same will be executed on the

due date provided no amount is paid by the customer before due date.If customer has

paid an amount less than Minimum Amount Due before due date then differential

amount would be debited.If customer has paid an amount which is equal to or more

than Minimum Amount Due before due date then no additional amount will be

debited from customer’s liability account.

No merchant refund/cashback/credit due to transactions converted to EMI / cancelled

transactions / reversals / promotional cashback will be considered as a payment

towards the outstanding of the Card.EMI transactions and cash transactions will not

be eligible for Reward Points.Once a transaction has been converted into EMI, it will

not be eligible for reward points even if it is reversed/written off at a later date.In case

Card Holder makes an excess payment compared to the outstanding of the Card, there

will be credit balance in the Card account.This will be adjusted against the subsequent

transactions on the Card.However no interest can be claimed on this excess credit

amount.

iii. Method of payment: Payments towards the Card account may be made in any of the

following ways: Customers can login into net banking portal and make payments

toward Card outstanding using

1. Net banking of any bank account- Click to Pay/NEFT: Pay Card dues from any of

your other bank Savings Accounts using Click To Pay/NEFT.

2. UPI

iv. Billing Disputes Resolution: In the event the Card Holder disagrees with the charges

indicated in the statement, it should be communicated in writing to the

correspondence address of SBM Bank within 60 (sixty) days of receipt of the

statement, failing which it would be construed that all charges indicated in the

statement are inorder.

v. Contact Particulars Customer Care Centres: Customers can reach out on following

Helpline Number – 1800 1033 817

Or they can write to us – customercare@sbmbank.co.in

vi. Grievances Redressal/Complaints/Escalations: In the event that you are not satisfied

with our services, you may register your grievance by (i) visiting at

https://www.sbmbank.co.in/aboutus/grievance-redressal-mechanism.php and writing

us via contact us portal or customercare@sbmbank.co.in (ii) calling at our helpline

number 1800 1033817vii. Helpline Number for Grievance Redressal: In the event you

are not satisfied with our services, you may register your grievance by dialing our helpline

number 1800 1033 817.

5. DEFAULT AND CIRCUMSTANCES:

i. If the Card Holder fails to pay the Minimum Amount Due by the date indicated in the

billing statement, it shall be treated as default.In case of default , the Bank can forward

the default report to the Credit Information Bureaus or to such other agencies as

approved by law. The time period between the payment due date and the billing date

indicated on the billing statement is considered as the notice period for reporting a

Card Holder as a defaulter.

ii. Procedure for withdrawal of default report and the period within which the default

report would be withdrawn after settlement of dues: SBM Bank submits the Card

Holder’s data to CIBIL - Credit Information Bureau (India) Limited every month in the

format prescribed by CIBIL.This data includes the repayment status of all Cardholders,

both defaulters and current, for the previous month.CIBIL uploads the submitted data

onto their server in another thirty days.

iii. Recovery of dues in case of death/permanent incapacitance of the Card Holder: It shall

be in accordance with the applicable laws after giving sufficient notice for payment of

dues and all information regarding the outstanding dues, to the successors/nominees

/legal heirs of the Card Holder.

6. TERMINATION/REVOCATION/SURRENDER OF CARD HOLDERSHIP:

i. The Card Holder may at any time choose to terminate the Card Account with or

without giving any prior notice.For avoiding misuse, it is advised to cut the Card into

four pieces ensuring that the hologram and magnetic strip are destroyed

permanently.The Card Holder may terminate the Card Holdership at any time by

writing to SBM Bank India Limited by indicating the complete Card number.The

termination shall only be effective once SBM Bank receives the payment of all

amounts due and outstanding in respect of the said Card Account.

ii. In the event of a Card program closure or at the time of renewal of Card, SBM Bank at

its sole discretion reserves the right to provide a Card type that is different from the

existing Card type held by the Card Holder.The credit limits and cash limits on any Card

at any point in time are as per sole discretion of SBM Bank Limited.

iii. The Card application shall continue to be valid for any replacement card provided at

the time of closure/renewal.

7. LOSS/THEFT/MISUSE OF CARD:

ii. In case of loss/theft/misuse of the Card, it must be reported immediately to SBM Bank

either through the Customer Care or through net banking portal.SBM Bank shall

thereupon suspend the Card.The Card Holder is advised to file an FIR with the local

police station so that the Card Holder can produce its copy whenever requested by

the Bank.

iii. The Card Holder shall be primarily responsible for the security of the Card including

theft and for the transactions using the Card.The Card Holder shall not be liable for

any transaction/s made on the Card post reporting its loss/theft/damage.However, in

case of any dispute relating to the time of reporting such loss/ theft/damage and/or

transactions made on the Card post reporting of the loss/theft/damage/ misuse, SBM

Bank reserves the right to ascertain such time and or the authenticity of the disputed

transactions.

SBM Bank reserves the right to block the Card on suspected risk of compromise in

order to protect the interest of the Card Holder and to avoid misuse in any manner

on the Card Account.The Card Holder shall not be able to use the blocked Card for any

transaction/s and shall receive a replacement Card within 7 (seven) working days.In

the event, the Card Holder, after being informed by SBM Bank of the probable fraud

risk, still requests to unblock the Card, SBM Bank shall not stand liable or responsible

in any manner for any fraudulent transactions reported to it thereafter on account of

fraudulent usage of the Card or otherwise.

8. DISCLOSURE:

The Bank shall part with all available information about the Card Holder, repayment

history etc.to Credit Information Bureaus (specifically authorized by RBI) or to such other

agencies approved by law. SBM Bank/Group Companies reserve the right to retain the

application forms and documents provided therewith, including photographs, and will

not return the same.

9. DEBT ASSIGNMENT

SBM Bank shall have the right to transfer, assign and sell in any manner, in whole or in

part, the Card outstandings and dues to any third party of its choice without reference

or intimation to the Card Holder. Notwithstanding any such sale, assignment or transfer,

SBM Bank shall be fully empowered to proceed against the Card Holder. The Card Holder

shall be liable for all costs and expenses on account of any such assignment, sale or

transfer and recovery of outstanding and dues.

10. SETTLEMENT OF DISPUTES

All disputes are subject to the exclusive jurisdiction of the competent courts in Mumbai

only.

11. CHANGING TERMS AND CONDITIONS OF MITC

SBM Bank shall have the absolute discretion to amend or supplement any of the terms

and conditions specified in MITC, features and benefits offered on the Card including,

without limitation to, changes which affect existing balances, interest charges or rates

and methods of calculation at any time.The Card Holder shall be liable for all charges

incurred and all other obligations under these revised terms and conditions until all the

amounts under the Card are repaid in full.SBM Bank may communicate the amended

Terms by hosting the same on the internet banking or in any other manner as decided

by SBM Bank.The Card Holder shall be responsible for regularly reviewing these terms

and conditions specified in MITC including amendments thereto as may be posted on the

internet banking and shall be deemed to have accepted the amended terms and

conditions specified in MITC by continuing to use the Card.Any change in the terms and

conditions specified in MITC shall be communicated to the Card Holder, in the manner

as aforesaid, one month prior to the date of their implementation.

12. NOTICES

All notices or other communications under or in connection with terms and conditions

specified including all amounts due from the Card Holder shall be given in writing to SBM

Bank (India) Limited, and, unless otherwise stated may be made by letter or facsimile.Any

such notice or other communication will be deemed to be effective: (i) if sent by letter,

when delivered personally or if dispatched by post, when recall of the letter is outside

the control of the sender; and (ii) if sent by facsimile, when sent (on receipt of a

confirmation to the correct facsimile number).Provided, however, that no notice or

communication to SBM Bank shall be effective unless actually received and

acknowledged by SBM Bank.Notices or communication may be made to: (i) the Card

Holder’s address or facsimile number as recorded in SBM Bank’s records and to which

notices / communications are to be sent (as specified in the Application Form), and (ii)

SBM Bank’s zonal / regional / branch /office address or facsimile number (as specified in

the application form), or to such other address or facsimile number as may be designated

by the Card Holder and SBM Bank in writing to each other.In the event of any failure by

the Card Holder to notify SBM Bank in writing of any changes in its contact address or

details, service of a notice/ correspondence to the address specified in the Application

Form or last given by the Card Holder shall be deemed to be proper and sufficient service

on the Card Holder irrespective of whether or not such notice shall be returned

“unserved” to SBM Bank.A notice published in the newspaper available in the area of

residence or work of the Card Holder shall be sufficient notice to the Card Holder from

the date of its publications; provided however, a notice in a newspaper shall not be

effective against SBM Bank unless acknowledged by SBM Bank.

SBM Bank may, at its sole discretion, utilize the services of external service provider/s or

agent/s and on such terms as required or necessary, in relation to its products/

services.SBM Bank and SBM Bank’s logos are trademark and property of SBM Bank

Ltd.Any misuse of any intellectual property, or any other content displayed herein is

strictly prohibited.

Any notice or communication to be sent on following co-ordinates:

Address: SBM Bank (India) Ltd., 306 - A, The Capital, G block, Bandra-Kurla Complex,

Bandra East, Mumbai 400 051, Maharashtra

Tel No: +91 022 4007 1500

Mail ID:customercare@sbmbank.co.in

13. EXCLUSION OF LIABILITY

13.1. Without prejudice to the remedies available to SBM Bank and the terms and

conditions, SBM Bank shall be under no liability whatsoever to the Card Holder 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 person/ merchant to honour or accept a Card;

c) the malfunction of any computer terminal;

d) the giving of transaction instruction by any person other than by a Card Holder;

e) handing over of the Card by the Card Holder to anybody other than SBM Bank or

its representatives;

f) SBM Bank exercising its right to demand and procure the surrender of the Card

prior to the expiry date exposed on its face, whether by SBM Bank;

g) the exercise by SBM Bank of its right to terminate any Card and the Card Account;

h) any injury to the credit character and reputation of the Card Holder alleged to

have been caused by the repossession of the Card and/or, any request for its

return or the refusal of any merchant/ mail order establishment to honour or

accept the Card;

i) any mis-statement, misrepresentation, error or omission in any details disclosed

by SBM Bank; In the event a demand or claim for settlement of outstanding dues

from the Card Holder is made, either by SBM Bank or any person acting on behalf

of SBM Bank, the Card Holder 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 Card Holder, in any manner.

13.2. The Card Holder acknowledges that the provision of the facility of receiving alerts

on mobile phone number or email, provided by the Cardholder while applying for

the Card facility, is dependent on the infrastructure, connectivity and services to be

provided by service providers engaged by SBM Bank or otherwise.The Card Holder

accepts that timelines, accuracy and readability of alerts sent by SBM Bank will

depend on factors affecting other service providers engaged by SBM Bank or

otherwise.SBM Bank shall not be liable for non-delivery or delayed delivery of alerts,

error, loss or distortion in transmission of alerts to the Cardholders.

13.3.QUALITY OF GOODS & SERVICES

SBM Bank shall not, in any way, be responsible for merchandise, merchandise

warranty or services purchased, or availed of by the Card Holder from merchant,

including on account of delay in delivery, non-delivery, non-receipt of goods or

receipt of defective goods by the Card Holder.It must be distinctly understood that

the Card is purely a facility to the Card Member to purchase goods and/or avail of

services, SBM Bank holds out no warranty or makes no representation about quality,

delivery or otherwise of the merchandise.Any dispute or claim regarding the

merchandise must be resolved by the Card Holder with the merchant.The existence

of the claim or dispute shall not relieve the Card Holder of his obligation to pay all

the Charges to SBM Bank and the Card Holder agrees to pay such charges promptly.

14. SET-OFF

(I) SBM Bank and its group companies shall have the paramount right of set -off and lien,

irrespective of any other lien or charge, present as well as future on the deposits of

any kind and nature (including fixed deposits) held/ balances lying in any other

account(s) of the Card Holder maintained with SBM Bank and / or its Group

Companies, whether in single name or joint name(s) and on any monies, securities,

bonds and all other assets, documents and properties held by/ under the control of

SBM Bank and/or its group companies (whether by way of security or otherwise

pursuant to any contract entered/ to be entered into by the Card Holder in any

capacity) towards the satisfaction of the Card Holder’s liability under his Card

Account.SBM Bank and/ or its group companies are entitled without any notice to

the Card Holder, to settle any indebtedness whatsoever owed by the Card Holder to

SBM Bank and/or its group companies, (whether actual or contingent, or whether

primary or collateral, or whether joint and/or several) hereunder or under any other

document/ agreement, by adjusting, setting off any deposit(s) and/or transferring

monies lying to the balance of any account(s) held by the Card Holder with SBM Bank

and/or its group companies notwithstanding that the deposit(s)/ balances lying in

such account(s) may not be expressed in the same currency as such

indebtedness.SBM Bank’s and its group companies’ rights hereunder shall not be

affected by the Card Holder’s bankruptcy, death or winding-up.It shall be the Card

Holder’s sole responsibility and liability to settle all disputes/ objections with any such

joint account holders.

(II) In addition to the above mentioned right or any other right which SBM Bank and its

group companies may at any time be entitled whether by operation of law, contract

or otherwise, SBM Bank is authorized / will be entitled: (a) to combine or consolidate

at any time all or any of the accounts and liabilities of the Card Holder with or to any

branch of SBM Bank and/or its group companies; (b) to sell or otherwise dispose off

any of the Card Holders’ securities or properties held by SBM Bank by way of public

or private sale or otherwise without having to institute any judicial proceeding

whatsoever and retain/appropriate from the proceeds derived there from the total

amounts outstanding to SBM Bank and/or it group companies from the Card Holder,

including costs and expenses in connection with such sale or disposal; and (c) in case

of cross currency set - off, to convert an obligation in one currency to another

currency at a rate determined at the sole discretion of SBM Bank and/or its group

companies.

15. MISCELLANEOUS

SBM Bank reserves the right to offer to the Card Holders, whose accounts have been

maintained in good standing as per the credit norms of SBM Bank, certain facilities,

memberships and services at such fees and on such terms and conditions as it may deem

fit.SBM Bank reserves the right to waive or reduce the fees and to withdraw such benefit

at any time without prior notice and without liability to the Card Holder.Any termination

of membership, because of a violation of these Terms and Conditions, shall result

automatically in the termination of such facilities and services.SBM Bank shall not be

liable, in any way, to the Card Holder, in case of defect or breach in the performance of

carrying out such facilities, memberships or services or the non-performance thereof,

whether by SBM Bank, or a merchant or any other third party.SBM Bank reserves the

right to use the information provided by the Card Holder on his application and during

surveys, information from external sources, including consumer reports, for marketing

activities carried out by SBM Bank / Affiliates.SBM Bank may use this information to

develop mailing lists that may be used by companies with whom SBM Bank shall work to

develop marketing offers for the Card Holders.SBM Bank reserves the right to revise the

policies, features and benefits offered on the Card from time to time and may notify the

Card Holder of any such revisions/changes in any manner as deemed appropriate.The

Card Holder will be bound by such revisions/changes unless the Card is returned to SBM

Bank for cancellation before the date on which the revisions/changes are made. The

details of all transactions recorded in the Card Account of the Card Holder may be shared

with credit reference agencies, lenders and/or other agencies for the purposes of

assessing further applications for credit by the Card Holder and/or his family members,

and for fraud prevention.In addition to the general right to set off or other right

conferred by law or under any other agreement, SBM Bank may, without notice,

combine or consolidate the standing balance on the Card Account with any other

account(s) which the Card Holder maintains with SBM Bank and its Group Companies,

and set -off or transfer money standing to the credit of such other account(s) in or

towards the satisfaction of the Card Holder’s liability to SBM Bank under his Card

Account.The Card Holder shall forthwith notify SBM Bank of any change in his name,

address, contact number and email id for communication as stated in the application

form for the Card.SBM Bank reserves the right to change the Card Holder’s address in its

records if such change in address comes to the notice of SBM Bank. The responsibility

shall be solely of the Card Holder to ensure that SBM Bank has been informed of the

correct address for communication, and SBM Bank disclaims all liability in case of an

incorrect address resulting in any loss or liability for the Card Holder.The Card Holder

shall comply with all such terms and conditions as SBM Bank or its Affiliates may

prescribe from time to time for facilities/ services availed of by the Card Holder.All such

transactions effected by or through facilities for conducting remote transactions

including the Internet, World Wide Web, electronic data interchange, call

centrescenters, teleservice operations (whether voice, video, data or combination

thereof) or by means of electronic, computer, automated machines network or through

other means of telecommunication, established by or on behalf of SBM Bank or its

Affiliates, for and in respect of such facilities/ services offered, shall constitute legally

binding and valid transactions when done in adherence to and in compliance with the

terms and conditions prescribed by SBM Bank or its Affiliates for such facilities/ services,

as may be prescribed from time to time.

Disclaimer:

*SBM 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 the Cards.