UCOPAY+
UCOPAY+ wallet is a app for all the Bill Payment/Recharge needs of the customer. It is a semi-closed prepaid wallet where you can load money and spend it for your Mobile recharge/ DTH recharge/various utility Bill Payments including Gas, Electricity, Insurance, Mutual Funds, etc., sending money to your near & dear ones.
Getting money from your pals or paying money to your pal’s wallet/UCO Bank account can’t be easier than this. It provides facility of QR Code scanning of merchants and doing quick payment. You can check all transaction statement and send it to your Email-ID.
Eligibility
Any Indian National of age more than 18 years is allowed to register for UCOPAY+ wallet.
Registration Steps
- Download (Android / IOS) & install the UCOPAY+ Application from Play Store/ Market place for Android/ iOS phones.
- Open the Application and enter your mobile number which need not be the one which is registered with UCO Bank andpress Submit.
- Fill in your First Name, Last Name, Gender, Date of Birth, Email-Id and Document Type, Document for verification and Proceed.
- One OTP will be sent to the mobile number you entered.
- Enter the OTP and set your 4-digit MPIN & TPIN.
- Select a secret question and put in the answer and Proceed.
- Enter your MPIN.
- Tap on OK on the pop-up.
Benefits
- Instant online Account opening.
- Video KYC Facility also available.
- Immediate availability of online transactions.
- Virtual wallet.
- Bill Payment.
- BBPS.
- Virtual Card.
Features Available
- Add MoneyGet Money
- Pay Money
- Bill Pay
- Mobile/DTH Recharge
- Requests Received
- Create your Favourite Pals
- Scan & Pay
- Other features
Charges
Wallet fund Transfer Charges in UCO PAY + Wallet |
|
Signing up for UCO PAY +Wallet |
FREE |
Load in UCO PAY+ wallet |
|
a. Using Debit Card/IMPS |
FREE |
b. Using Net Banking |
1% of transaction amount + applicable GST |
Money Transfer |
|
a. Wallet to Wallet (W2W) |
FREE |
b. Wallet to Bank account (W2A) |
2% of transaction amount +applicable GST (min ₹ 4.24 + GST) |
Mobile recharge/DTH Recharge/Data Card Recharge/Bill payment/Online Payment using Wallet/vouchers and other added services miscellaneous |
FREE |
Cash loading/Wallet Top-Up |
FREE |
For Non-KYC customer |
Total debit should not exceed Rs.10000 in the month |
Total deposit in Financial Year Rs 1 lac |
Amount outstanding shall not exceed Rs 10k at any time |
No Fund transfer to Account as well in other wallets |
After 12 months fund loading will not be allowed |
For KYC customer |
Per beneficiary 1 lakh monthly |
Amount at any time should not exceed 1 lac at a time |
Cooling period before payment 4 hours |
Fund transfer to Pre – registered Beneficiary. Number of Beneficiary added in a day 3 |
Limit can be set – beneficiary wise maximum RS 5,000/- |
Deactivate such wallets where transaction does not happen in 1 year |
As per RBI guidelines, Non-KYC UCOPAY+ users are restricted from doing fund transfer to any other wallet or Bank account. Once KYC is completed, the customer can do fund transfer up to 50000/- in a month. In order to do fund transfer, the customer has to add beneficiary and wait for cooling period of 4 hours.
For NON KYC UCOPAY+ customer completed 1 year, no further fund loading will be allowed. However, the customer can use existing funds for Recharges/ Bill Payments.
- What is UCO PAY+ app?
UCO PAY + is an advance digital wallet where user can keep money digitally and also can open account with limited facility.
- Who can register for UCOPAY +?
All UCO and non-UCO customers can register for UCOPAY + application using their valid mobile number.
- Can I transfer money to other Bank account besides UCO Bank account?
At present, user can transfer money to other UCOPAY + wallet and UCO Bank accounts. Fund transfer to other Bank account is not allowed.
- I forgot my login password (MPIN). How do I reset it?
Click on “Forgot MPIN” button present at login screen-> enter OTP sent to registered mobile number, answer secret question and reset login pin.
- I don’t remember my secret question/answer. How do I reset MPIN?
User needs to send e-mail to [email protected] from registered e-mail id or get the request forwarded through any UCO Bank Branch. User needs to present supporting documents to confirm that the given mobile number belongs to him/her. Secret question/answer will be sent through SMS to user’s registered mobile number.
- How is UCOPAY + useful for Merchants?
Merchants can use UCOPAY + for receiving payments from their customers. Merchants may simply generate QR code for the UCOPAY + (e-wallet) in which they would like to receive payments and paste copies of the same outside their shops. Other UCOPAY + users can simply scan the QR Code (Merchant’s detail will be visible) and make payment. Merchant also has the option to send “get money request” to his/her customers.
- What is QR Code in UCOPAY+?
Quick Response (QR) Code represents e-wallet information in an image form which may be scanned for making on-to-one transfer.
- How to generate QR Code in UCOPAY +?
User can generate QR Code by tapping on to ‘QR Code sign’ available at top left and clicking ‘generate’.
- How much fund can be transferred using UCOPAY + in a day?
User can transfer a maximum of Rs 5,000 in a 24 hour cycle.
- Is there any charge for transferring funds from UCOPAY + to UCO Bank account?
Yes. Funds transferred from UCOPAY + to UCO Bank account is chargeable.
- Where can I view transaction history?
User can view transaction history by clicking plus sign (+) available at bottom-left corner of the home screen and selecting ‘view transaction’ to view/e-mail transaction statement for a particular period.
- My Mobile/DTH recharge was unsuccessful but my e-wallet got debited. When will I get refund?
Refund for such cases is usually processed within 2-5 working days.
- Whom should branches contact in case of any dispute related to UCOPAY +?
For any dispute related to UCOPAY +, branches may send e-mail at: [email protected]
Definitions:
The following words and expressions shall have the corresponding meanings wherever appropriate.
1.1 "Bank" shall mean UCO Bank (UCO) or any of its successors or assignees.
1.2 "UCOPAY+" shall mean Instant Online Account Opening and includes the service over the
Application
1.3 "UCOPAY+" shall include UCOPAY Wallet.
1.4 "Wallet" shall mean a mobile based prepaid wallet registered with the Bank.
1.5 "UCOPAY+ user" means the holder of UCO Mobile Wallet
1.6 "MPIN" shall mean 4 digit Mobile Personal Identification Number (password) for the Mobile
Wallet Service.
"TPIN" shall mean 4 digit Transactional Personal Identification Number (password) for the
Mobile Wallet Service.
1.7 'Mobile Phone Number' shall mean the Mobile number that has been used by the
UCOPAY+ user to register for the Product.
1.8 'Product' shall mean UCOPAY+ mobile application.
1.9 'Bank's website' means www.ucobank.com.
1.10 ‘OTP’ shall mean One Time Password.
1.11 "Full KYC Wallet" shall mean Mobile Wallet services availed by submitting full KYC details
to the bank.
Applicability of Terms and Conditions for UCOPAY+
No person is entitled to use the UCOPAY+ without proper understanding and agreeing to the Terms and Conditions of the Service. By using the UCOPAY+, the UCOPAY+ users thereby agree and give consent to these Terms and Conditions, which form the contract between the UCOPAY+ user and the Bank. UCOPAY+ shall be governed by such existing terms and conditions and also by amendments made to the same by the Bank from time to time. These terms and conditions shall be in addition to and not in derogation of other terms and conditions relating to any account of the UCOPAY+ user and/or the respective product or the service provided by the Bank unless otherwise specifically stated.
Terms & Conditions for Mobile based account opening:
- Any Resident Indian who downloads UCOPAY+/ UCO mBanking plus or bank’s website Mobile App from App Store/ Play Store using smartphone and provides his/her details in the application for opening an instant online account offered by UCO Bank is a Customer
- By downloading the app and providing his/her details, customer agrees to the terms and conditions of the Bank.
- By downloading the app and sharing all information, customer consents to provide his/her name, contact details and other information on an at will basis with Bank.
- Bank shall not be liable for any connectivity/ signal/ data issues leading to non-completion or wrong/false/incomplete information being provided by the customer leading to the incompletion of his/her application.
- The customer herewith agrees to provide his/ her valid Aadhaar number and valid PAN Card details. He/she understands that opening an account is subject to correct, complete and accurate information is provided.
- Customer agrees that the name in the account will be the customer name as per his/her Aadhaar Card in case OTP validation of Aadhaar is successful or will be as per his/her name mentioned on PAN Card.
- Application once submitted cannot be withdrawn by the customer. Bank shall not be liable to pay for any costs (technical/ data plan related or otherwise) incurred by the customer in the course of the downloading or sharing his/her details on the application.
- The customer herewith agrees to provide the accurate documentation and information as listed in the app for the purpose of account opening. Customer understands and agrees that failure to provide requisite documentation and information shall result in rejection of application by the Bank. The customer agrees that Bank has every right to reject the account opening application, if there is any erroneous, incomplete or misleading information provided by the customer or for any other reason whatsoever with/without assigning any reason or if KYC documents submitted do not comply with the KYC norms of the Bank.
- This account opening process is not available for existing UCO Bank customers who have a Customer ID with the bank on basis of PAN/Aadhaar.
- This account opening process is also not available for customers who are FATCA reportable. Such customers are requested to approach the branch and to comply with requirement of opening an account.
- Bank reserves the right to take necessary action, legal or otherwise, if it finds any wilful modification/ withholding of information or misrepresentation by the customer.
- Customer understands and agrees that interest on the amount funded online will be paid subject to activation of the account and only from the date when the funds has been credited into the account.
- The customer shall not enjoy the services provided by the bank unless the customer on-boarding process is complete.
- Customer declares and confirms that the Bank shall be entitled to rely on all/any communication, information and details provided on the electronic form and all such communications, information and details shall be final and legally binding on the Customer.
- Customer understands and confirms that the Bank has every right to close or debit freeze the account, if the details provided by him/her are found to be inaccurate, incorrect or false by the Bank or for any other reason whatsoever without assigning any reason thereof. In such an event, the bank shall not be liable to pay any interest on the amount of deposit & the refund of amount deposited in the account will be refunded to the source account. In such an event, bank will retain the documents / Photographs (if any) and any other signed document submitted.
- This application is available for opening a savings account by Resident Indian Individuals only.
- Customer gives consent to the Bank to fetch his/her demographic details from Unique Identification Authority of India (UIDAI), using biometric authentication which will be used for KYC purposes. The demographic details include name, DOB, gender, address and photograph. Customer further consents to the Bank to fetch his/her contact details from UIDAI which includes the contact number and email ID.
- Customer authorises Bank to link the Aadhar account provided by them with the savings account opened by them under this process. Customer herewith understands and agrees that this data will be shared with government department, if asked for.
- The Bank reserves the right to cancel the Customer ID and Account Number (A/C) allotted to the customer, if the customer does not complete the verification process within the allotted time.
- The Bank reserves the right to hold the accounts in Debit Freeze or close the Account even after account activation in case of any discrepancy found as part of regular monitoring and document verification activities.
- The customer agrees to provide the necessary details (Mobile, Email etc.,) as per his/her requirement at the time of submission of details through the app. Bank shall not bear any liability for any loss arising out of customer's failure to do so.
- The customer herewith agrees to be contacted by the bank to receive information in respect of account maintenance, alerts, payments due, updates on existing and new products, servicing of account for sales, marketing or servicing their relationship etc. Further he/she understands that the consent to receive calls / communications shall be valid and shall prevail over their current or any subsequent registration of their mobile number for NDNC and shall continue to be treated as customer consent / acceptance.
- The customer authorises Bank to share his/her mobile number and address with the respective mobile operator to verify customer's address at any point of time.
- The customer herewith agrees that if the application is rejected, Bank will retain the documents / Photographs and any other signed document submitted by the customer on the app or otherwise.
- Customer confirms to have read, understood and will be bound to/ abide by the Terms and Conditions of account opening and the general terms applicable to account as available on Bank's website. Once an account is opened, the terms and conditions listed as under shall also apply, as per the product selected by the customer.
T&Cs for Insta Account - for Limited KYC accounts opened through OTP based Aadhaar authentication
- The customer herewith confirms that he/she has not used the OTP based Aadhaar (e-KYC) verification to open any other bank account.
- If opened through UIDAI based OTP, it will be a limited KYC account, in which he/she cannot have a credit balance of more than 1 Lakh. The overall cumulative deposit in such an account cannot exceed 2 Lakhs, unless the customer complete the full KYC process.
- The customer herewith agrees to complete his full KYC by visiting his nearest Bank branch/ by requesting a visit from the bank representative and providing his biometric details within 12 months of opening such account.
- The customer agrees that failure to complete full KYC within 12 months will results in stop credit of transaction amount in the online opened account. However, the customer will be able to utilise the amount residing in the account for online payments.
- The customer agrees that if her/ his balance in the limited KYC account exceeds 1 Lakh in a given day, bank reserves the right to put the account on a total freeze, till such time that customer completes the full KYC process.
- In case of account being put under total freeze, the customer agrees that principal amount on such deposits kept along with the interest accrued (if any) will be payable to him only upon completing his full KYC.
- The customer will not be eligible to get a Cheque book for this account.
- The customer agrees that he/she will not be able to get the following services from the bank:
- Cash withdrawal at branch
- FCY - DD
- Cheque withdrawal
- Investment account
- TD/RD
- TOD
- Investment in IPO
- The customer agrees that such an account will be subject to regular scrutiny and monitoring from the bank and bank shall reserve the right to completely freeze/debit freeze/ close the account at its sole discretion.
- If Customer fails to provide full KYC for any reason, customer understands and agrees that the bank reserves right to close the account and customer will have to contact the branch withdrawing any leftover amount in his/her account.
- Regular transactional SMS charges would be recovered by the Bank.
General Business Rules Governing UCOPAY+
Issue of mobile wallets is governed by RBI's and Bank's Policy. The following Business rules will apply to the UCOPAY+:
3.1 The product will be available to applicants having a valid Mobile number, identity proof and address proof.
3.2 The daily and monthly transaction limits for wallet are as under:
Limits per wallet (on platform) |
NIL KYC |
Fully KYC |
Maximum balance at any point of time |
10,000/- |
20,000/- |
Top up through Debit Card/Credit Card per transaction |
5,000/- |
5,000/- |
Total reload in a month |
10,000/- |
20,000/- |
Total deposit in 1 Financial Year |
1,00,000/- |
|
Bill Payment/ Recharges |
Allowed |
Allowed |
Credit allowed in wallet after 12 months |
Not Allowed |
Allowed |
Fund transfer (Transfer to Account)* |
Not Applicable |
Allowed |
-Per transaction limit |
Not Applicable |
Allowed |
- Daily limit |
Not Applicable |
Allowed |
- Monthly limit |
Not Applicable |
Allowed |
* indicates that for Non KYC users, fund transfer will not be allowed either to account or wallet up to 12 months . Above given limits are subject to change as per Bank’s policy. |
3.3 Entering the wrong MPIN/TPIN thrice will block the UCOPAY+ application. The UCOPAY+ user has to reset / generate a new MPIN/TPIN before using the service as per the procedure laid down for the same.
3.4 Any change in the business rules of any of the processes will be notified to the customer through SMS/APP notification.
3.5 The Bank reserves the right to reject a UCOPAY+ user's request for UCOPAY+ without assigning any reasons.
3.6 The Bank may block the Wallet for transactions, if the same has not been accessed by the UCOPAY+ user for twelve months. In such cases, the customer has to visit the UCO Bank branch and with full KYC documents. After verification of KYC details, the wallet account can be reactivated. For Non-KYC users, one time option is there to withdraw money to pre-designated account.
3.7 The UCOPAY+ user can request for termination of the Wallet as per the procedure laid down for the same.
3.8 The UCOPAY+ user shall remain accountable for all the transactions on the UCOPAY+ made prior to confirmation of any such cancellation request by the Bank.
3.9 It shall be the Bank's endeavour to give a reasonable notice for withdrawal or termination of the Wallet, but the Bank may at its discretion withdraw temporarily or terminate the Wallet, either wholly or partially, anytime without giving prior notice to the UCOPAY+ user.
3.10 The Wallet may be suspended for any maintenance or repair work for any breakdown in the Hardware/ Software related to UCOPAY+, any emergency or security reasons without prior notice and the bank shall not be responsible if such an action has to be taken for such reasons.
3.11 The Bank may also terminate or suspend the services under the Wallet without prior notice if the UCOPAY+ user has violated the terms and conditions laid down by the Bank.
3.12 The Wallet is non-transferable.
3.13 No interest shall be payable on the balance available in Wallet
3.14 UCOPAY+ users can use wallet as Non-KYC users till 12 months. Prior to that, no credit will be allowed in UCOPAY+. However, the user may use existing balance for purchase of Goods & Services. Also, the customer can do one time fund transfer to UCO bank account or wallet.
3.15 Any UCOPAY+ wallets where transaction does not happen in 1 year will be treated as Inactive.
3.16 UCOPAY+ registration will be take place after authentication of Mobile number with OTP, self-declaration of name and unique identification of the officially valid document. The lists of the documents are as under:-
- Passport
- PAN card
- Voter’s Identity Card
- Driving License
- Aadhaar Card
- Electricity Bill
- Ration Card
3.17 UCOPAY+ user has to register beneficiary for account/ Wallet payment through “Create Favourite Pal” option and set beneficiary limit per transaction and Maximum amount per transaction. After 8 hours of cooling period, the customer will be able to do the fund transfer to created pals.
3.18 UCOPAY+ users will use same Mobile number and 4 Digit MPIN for logon to UCOPAY+ as well as to access the Insta account opened in UCOPAY+ Wallet.
3.19 At present, there are no charges/ Fee for registration of UCOPAY+ wallet.
3.20 The credit entries in UCOPAY+ will stop after 12 months for Non-KYC users. However, the customer may use the existing amount in wallet for bill payment and recharges.
Usage of Product
By accepting the terms and conditions for UCOPAY+ while registering for the product, the UCOPAY+ user:
4.1 agrees to use the UCOPAY+ for financial and non-financial transactions offered by the Bank from time to time.
4.2 also irrevocably authorizes the Bank to debit the UCOPAY+ account/wallet for all transactions/services undertaken by using MPIN.
4.3 agrees to use the services offered under the Product using the MPIN in accordance with the procedure as laid down by the Bank from time to time, including the terms and conditions contained herein.
4.4 agrees to keep the MPIN confidential and will not disclose these to any other person or will not record them in a way that would compromise the confidentiality of the same or the security of the service.
4.5 authorises the Bank to map the Wallet number (Mobile Phone Number) and Wallet ID for the smooth operation of UCOPAY+ offered by Bank and to preserve the mapping record in its own server or server of any other third party and to use such data at its discretion for providing/enhancing further banking/ technology products that it may offer.
4.6 I agree that Bank may keep or delete data in their system at their own discretion for up to 10 years of period, which may change in future.
4.7 agrees that the transactions originated using the mobile phones are non-retractable as these are instantaneous/real time.
4.8 understands and explicitly agrees that Bank has the absolute and unfettered right to revise the prescribed ceilings and charges from time to time which will be binding upon him/her.
4.9 agrees to use the product on a mobile phone properly and validly registered in his/her name only with the Mobile Service Provider and undertakes to use the Wallet only through Mobile Phone Number which has been used to register for the Wallet.
4.10 expressly authorizes the Bank to carry out all requests/ transactions purporting to have been received from his/ her mobile phone and authenticated with his/ her MPIN. In the case of payment facilities like cash out, fund transfer, mobile top up, bill payment, etc, the UCOPAY+ user shall be deemed to have expressly authorised the Bank to make the payment when a request is received from him/ her.
4.11 accepts that any valid transaction originating from the Wallet Number (registered mobile phone number) shall be assumed to have been initiated by the UCOPAY+ user and any transaction authorized by the MPIN is duly and legally authorized by the UCOPAY+ user.
4.12 agrees that while the Information Technology Act, 2000 prescribes that a subscriber may authenticate an electronic record by affixing his digital signature which has been given legal recognition under the Act, the Bank is authenticating the UCOPAY+ user by using Mobile Number, MPIN/TPIN or any other method decided at the discretion of the Bank which may not be recognized under the IT Act, 2000 for authentication of electronic records and this is acceptable and binding to the UCOPAY+ user and hence the UCOPAY+ user is solely responsible for maintenance of the secrecy and confidentiality of the MPIN without any liability to the Bank.
4.13 agrees to keep himself/herself updated with regard to any information/ modification relating to the services offered which would be publicized on the Bank's websites and would be responsible for taking note of/ compliance of such information/ modifications in making use of the Product
4.14 The use of software is subject to User's compliance with the End User License Agreement (EULA). The USER acknowledges that the USER has read and understood the EULA and also agrees to comply with the T&Cs of the EULA.
4.15 I also agree that in case of changing my mobile number or closure of my wallet profile or closure of registered mobile number, I will transfer available amount in wallet to my bank account or request the bank to refund it back to source account.
4.16 I agree that Bank may keep or delete data in their system at their own discretion for up to 10 years of period, which may change in future.
Others
5.1 The UCOPAY+ user shall be required to acquaint himself/herself with the process for using the Product and that he/she shall be responsible for any error made while using the Product.
5.2 The Bank reserves the right to decide what services may be offered. Additions/ deletions to the services offered under the product are at its sole discretion.
5.3 The instructions of the UCOPAY+ user shall be effected only after authentication under his/her Wallet Number and MPIN/TPIN or through any other mode of verification as may be stipulated at the discretion of the Bank.
5.4 While it shall be the endeavour of the Bank to carry out the instructions received from the UCOPAY+ users promptly, it shall not be responsible for the delay/ failure in carrying out the instructions due to any reasons whatsoever including failure of operational system or due to any requirement of law. The UCOPAY+ user expressly authorizes the Bank to access his/her wallet information required for offering the services under the Product and also to share the information regarding his/ her wallet with the service provider/ third party as may be required to provide the services.
5.5 The transactional details will be recorded by the Bank and these records will be regarded as conclusive proof of the authenticity and accuracy of transactions.
5.6 The UCOPAY+ user hereby authorizes the Bank or its agents to send promotional messages including the products of the Bank, greetings or any other messages the Bank may consider from time to time.
5.7 The UCOPAY+ user understands that the Bank may send "rejection" or "cannot process the request" messages for the service request(s) sent by the UCOPAY+ user which could not be executed for any reason.
5.8 The Bank shall make all reasonable efforts to ensure that the UCOPAY+ user information is kept confidential but shall not be responsible for any inadvertent divulgence or leakage of confidential UCOPAY+ user information for reasons beyond its control or by action of any third party.
5.9 The Telecom Service provider of the UCOPAY+ user may levy charges for each SMS/ dial/GPRS/USSD and the Bank is not liable for any dispute that may arise between such telecom service provider and the UCOPAY+ user.
Fee structure for the Product
Service Charges applicable W.E.F. |
||
Sl. No. |
Description of Service Charge |
Proposed Charges |
1 |
Service charges for account opening, fund transfer through Mobile Wallet, UCOPAY+ account to UCO Bank Account |
NIL |
Bank reserves the right to change the fee structure at its discretion.
Accuracy of Information
7.1 It is the responsibility of the UCOPAY+ user to provide correct information to the Bank through the use of the Product or any other method. In case of any discrepancy in this information, the UCOPAY+ user understands that the Bank will not be in any way responsible for action taken based on the information. The Bank will endeavour to correct the error promptly wherever possible on a best effort basis, if the UCOPAY+ user reports such error in information.
7.2 The UCOPAY+ user understands that the Bank will try, to the best of its ability and effort, to provide accurate information and shall not hold the Bank responsible for any errors or omissions that may occur due to reasons beyond the control of the Bank.
7.3 The UCOPAY+ user accepts that the Bank shall not be responsible for any errors which may occur in spite of the steps taken by the Bank to ensure the accuracy of the information and shall not have any claim against the Bank in an event of any loss/ damage suffered as a consequence of an information provided by the Bank found to be not correct.
Responsibilities and obligations of the UCOPAY+ user
8.1 The UCOPAY+ user will be responsible for all transactions, including unauthorised/ erroneous/ wrong/ incorrect/mistaken/false transactions made through the use of his/ her mobile phone, SIM card and MPIN, regardless of whether such transactions are in fact entered into or authorized by him/ her. The UCOPAY+ user will be responsible for the loss/damage, if any suffered in respect of all such transactions.
8.2 The UCOPAY+ user shall take all possible steps to ensure that the Application and the mobile phone are not shared with anyone and shall take immediate action to block the SIM as per procedure laid down in case of misuse/ theft/loss of the mobile phone or SIM card.
8.3 It will be the responsibility of the UCOPAY+ user to notify the Bank immediately if he/ she suspect the misuse of the MPIN. He will also immediately initiate the necessary steps to change / regenerate his MPIN.
8.4 The UCOPAY+ user shall be liable for all loss or breach of the Terms and Conditions contained herein or contributed or caused the loss by negligent actions or a failure to advise the Bank within a reasonable time about any unauthorised access in the Wallet.
8.5 The UCOPAY+ user shall be liable and responsible for all legal compliance and adherence of all commercial terms and conditions in respect of the mobile connection/SIM card/mobile phone through which the product is availed and the Bank does not accept/ acknowledge any responsibility in this regard.
Disclaimer
9.1 The Bank, when acting in good faith, shall be absolved of any liability in case:
i. The Bank is unable to receive or execute any of the requests from the UCOPAY+ user or there is loss of information during processing or transmission or any unauthorized access by any other person or breach of confidentiality or due to reasons beyond the control of the Bank.
ii. There is any kind of loss, direct or indirect, incurred by the UCOPAY+ user or any other person due to any failure or lapse in the Product which are beyond the control of the Bank.
iii. There is any failure or delay in transmitting of information or there is any error or inaccuracy of information or any other consequence arising from any cause beyond the control of the Bank which may include technology failure, mechanical breakdown, power disruption, etc.
iv. There is any lapse or failure on the part of the service providers or any third party affecting the said Product and that the Bank makes no warranty as to the quality of the service provided by any such provider.
9.2 The Bank, its employees, agent or contractors, shall not be liable for and in respect of any loss or damage whether direct, indirect or consequential, including but not limited to loss of revenue, profit, business, contracts, anticipated savings or goodwill, loss of use or value of any equipment including software, whether foreseeable or not, suffered by the UCOPAY+ user or any person howsoever arising from or relating to any delay, interruption, suspension, resolution or error of the Bank in receiving and processing the request and in formulating and returning responses or any failure, delay, interruption, suspension, restriction, or error in transmission of any information or message to and from the telecommunication equipment of the UCOPAY+ user and the network of any service provider and the Bank's system or any breakdown, interruption, suspension or failure of the telecommunication equipment of the UCOPAY+ user, the Bank's system or the network of any service provider and/or any third party who provides such services as is necessary to provide the Product.
9.3 The Bank will not be responsible if the Wallet application is not compatible with/ does not work on the mobile handset of the UCOPAY+ user.
9.4 The Bank will not be liable for any loss caused by a technical breakdown of the payment system.
9.5 Use of the Wallet shall be terminated without notice at the Bank's discretion which may be upon the death, bankruptcy or insolvency of the UCOPAY+ user or on receipt of request from the UCOPAY+ user, receipt of an attachment order from a competent court or revenue authority or from RBI due to violation of RBI regulations, or for other valid reasons or when the whereabouts of the UCOPAY+ user become unknown to the Bank due to any cause attributable to the UCOPAY+ user or any other reason which the Bank deems fit.
9.6 The Bank is not responsible for the refusal by any Merchant Establishment (ME) to accept or honour the Wallet, nor shall it be responsible in any respect for the services offered to the UCOPAY+ user. The UCOPAY+ user shall handle or resolve all claims or disputes directly with such Establishments and no claim by the UCOPAY+ user against the Merchant Establishment is subject to set-off or counterclaim against the Bank. The UCOPAY+ user's Wallet will be credited only on receipt of money from the ME or the acquirer.
9.7 The Bank will not be responsible for furnishing original bills of the ME to the UCOPAY+ user.
Indemnity
In consideration of the Bank providing the Product, the UCOPAY+ user agrees to indemnify and hold the Bank harmless against all actions, claims, demands proceedings, loss, damages, costs, charges and expenses which the Bank may at any time incur, sustain, suffer or be put to as a consequence of or arising out of or in connection with any services provided to the UCOPAY+ user pursuant hereto. The UCOPAY+ user shall indemnify and keep indemnified the Bank for unauthorized access by any third party to any information/instructions/triggers given by the UCOPAY+ user or breach of confidentiality.
Governing Law & Jurisdictions
11.1 The Product and the terms and conditions of the same are governed by the applicable laws in India.
11.2 Any dispute or claim pertain to the Product and /or the terms and conditions herein are subject to the exclusive jurisdictions of competent courts/tribunals/forums in Kolkata and the UCOPAY+ user agrees to such exclusive jurisdictions in Kolkata.
Redemption
12.1 In case of discontinuation of product by the bank, Bank shall not dishonor customer instructions for payments/transfer of money, at approved locations, if there is sufficient balance outstanding in the wallet.
12.2 The holder of wallet shall be permitted to redeem the balance outstanding within the expiry date, if for any reason the scheme is being wound-up or is directed by the Reserve Bank to be discontinued.
Annexure A
END USER LICENSE AGREEMENT
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