RBL BANK RELOADABLE PAYROLL PREPAID CARD- TERMS AND CONDITIONS
This Payroll Prepaid Card is issued to you by RBL Bank Limited having registered office at Shahupuri, Kolhapur – 416 001 and corporate office at One Indiabulls Centre, Tower 2B, 6th Floor, 841, Senapati Bapat Marg, Lower Parel, Mumbai- 400 013 (“Bank”)
Terms and Conditions:
These Terms and Conditions shall govern the purchase and usage of the RBL Bank’s Reloadable Platinum Prepaid Card (“Card/the Card”). Akudo Technologies (hereby referred to as the Corporate) and the Cardholder (which shall have the meaning as defined below) hereby agree to abide by and shall observe compliance with these Terms and Conditions “Terms and Conditions” at all times.
The Card is made available to the Cardholder by Akudo Technologies Private Limited pursuant to a commercial dealing between the Cardholder and the Corporate. Cardholder and Corporate shall be together referred to as “User”. User undertake to comply with all the relevant notifications/ guidelines / circulars issued by the Reserve Bank / Bank/ any other competent authority / statutory or regulatory body/ies governing the issue and use of the Card. The Bank disclaims all liability on account of any breach by the User of the applicable notifications/ guidelines / circulars governing usage of the Cards in force and from time to time. If the Terms and Conditions are not acceptable, the Cardholder must not use the Card and immediately return the Card to the Bank. In case the Cardholder returns the Card to the Corporate then the Corporate shall immediately inform the Bank about such return of the Card for further actions of the Bank.
These Terms and Conditions are in addition to Applicable Law and the usage of the products and services available through various channels of the Bank, including but not limited to internet banking and phone banking facilities, with the use of Card, shall be subject to these Terms and Conditions
Please note that Card is non-transferable in nature. Each Cardholder is permitted to maintain and operate only one Card. These Terms and Conditions set out the contractual relationship between the issuer of the Card and each Cardholder under for the usage and issuance of the Card.
As a Cardholder please make sure you have read and understood each of these Terms and Conditions carefully, before using the Card.
a) All references to singular include plural and vice versa and the word "includes" should be construed as "without limitation".
b) Words importing any gender include the other gender.
c) Reference to any statute, ordinance or other law includes all regulations and other instruments and all consolidations, amendments, re-enactments or replacements for the time being in force.
d) All headings, bold typing and italics (if any) have been inserted for convenience of reference only and do not define limit or affect the meaning or interpretation of the Terms and Conditions and Conditions.
e) References to VISA/ MasterCard/ Rupay regulations pertain to the guidelines issued by VISA/ MasterCard/ Rupay to all the member banks of its network.
3. Eligibility Criteria:
4. Feature and Restrictions on the Card:
a) The Card is not transferable and a zero balance card at the time of issue.
b) The Cardholder may add his/her personal funds on the Card and funding of the Card may be done by the Corporate as per instructions from the cardholder
c) The Bank shall not be required to reload the Card or otherwise add to the Card Balance, at the request of the Cardholder. Further, Bank may add or deduct amounts from the Card Balance in accordance with the instructions of the Corporate and Bank shall not be liable to the Cardholder for any such additions or deductions.
d) No interest shall be paid or payable by Bank on the balance on the Card. It shall be subject to the Terms and Conditions mentioned herein and any additional conditions stipulated by Bank from time to time.
e) The Cardholder shall sign on the reverse of the Card immediately upon receipt of the same, and ensure that the signature on all transaction slips signed by the Cardholder are similar to the signature provided by the Cardholder on the Card and the Application Form submitted to Bank. In case the Cardholder desires to alter his/her signature, the Cardholder shall intimate the Bank about the same and execute necessary documents as prescribed by Bank and/or under law, in this regard.
5. Issuance and Usage of the Card:
The Cardholder hereby acknowledges and agrees that the Card shall not be loaded or reloaded beyond the limits as specified below and amended from time to time as per applicable laws or as determined by the Bank.
Cards issued with Minimum KYC:
or accessed by calling/writing to the Customer Service Centre at the 022 6115 6300.
A. Subject to Applicable Law, the operating rules and any limits applicable to the as described in the agreement entered by the Bank and the Corporate. Upon receipt and processing of request to add funds to the card Bank shall add funds to the designated Card subject to limits as specified above and as amended from time to time under Applicable laws or such other amount as determined by the Bank.
B. The Cardholder/Corporate shall bear the costs as provided in Annexure towards issuance of the Card(s) during the currency of the Terms.
C. The Corporate shall be responsible for the accuracy of the information provided to the Bank for the issuance of the Card. Transfer of any outstanding amount on or after the date of expiry of the card, to a new similar payment instrument of the Bank purchased by the Cardholder, may be permitted..
For the cards issued with full KYC, the Balance in the Card after the expiration date shall be transferred to the Corporate or the Cardholder as may be mentioned in the Application form.
(ii) Any breach of Terms and Conditions by the Cardholder;
(iii) Upon specific request from the Cardholder to cancel or suspend the Card;
(iv)Bank is unable or otherwise prevented from processing payments in relation to the Card for reasons beyond its reasonable control (including but not limited to restrictions imposed by law or regulation);
(v) Demise of the Cardholder;
(vi)Reported lunacy/insanity/unsound mind of the Cardholder;
(vii) If the Bank deems that the facility is being misused / improperly used in anyway; and
(viii) If any adverse report is received from any of the Banks/ Branches in the network or from any governing or monitoring authority.
d) Non-Distribution: The Bank may at any time instruct the Corporate, not to distribute Cards to any person due to reasons of compliance with the operating rules and/or Applicable Law, in which case Corporate shall immediately prevent any Card being so distributed and where requested confirm in writing this as soon as possible to the Bank. The Corporate shall not distribute Card outside the Territory.
e) Bank may at its sole discretion and in accordance with these Terms and Conditions, Applicable Law and Bank’s policies and procedures decide not to issue, or to cancel or suspend, a Card or the user of the Card Without limiting Bank’s rights under this Agreement, Bank may cancel any Card if:
f) The Bank, at its sole discretion, shall not be obligated to issue a Card, and may suspend or cancel any Card and all or any Services if -
a) If Bank is unable to verify the identity of the employees of the Corporate
b) If the Bank is not satisfied with the details provided by the Corporate;
c) Upon termination of this Agreement; or
d) If the request for issuance of Card or its use is not in compliance with the operating rules and/or Applicable Law.
g) Non-Distribution: The Bank may at any time instruct the Corporate, not to distribute Cards to any person due to reasons of compliance with the operating rules and/or Applicable Law, in which case Corporate shall immediately prevent any Card being so distributed and where requested confirm in writing this as soon as possible to the Bank. The Corporate shall not distribute Card outside the Territory.
h) Notice of Cancellation: Bank may cancel or suspend a Card at any time for any reason, with or without notice, pursuant to a requirement under operating rules and/or Applicable Law.
The Card issued to the Cardholder shall remain the property of the Bank and shall be surrendered to the Bank, on request. The Corporate shall return the Card to the Bank for cancellation in the event the services are no longer required by the Cardholder or if the services are withdrawn by the Bank for any reason whatsoever.
Cardholder agrees that the Bank shall not be liable for any damages, losses (direct or indirect) whatsoever, due to disruption or non-availability of any of services/facilities due to technical fault/error or any failure in telecommunication network or any error in any software or hardware systems beyond the control of the Bank.
Cardholder agrees that the Bank may disclose, in strict confidence, to other institutions, such Personal Information as may be reasonably necessary for reasons inclusive of:
In consideration of the Bank providing the Cardholder with the facility of the Card, the User shall indemnify and hold the Bank, along with its authorised representatives, employees, agents and subcontractors, harmless against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses whatsoever which the Bank, along with its authorised representatives, employees, agents and subcontractors, may at any time incur, sustain, suffer or be put to as a consequence of or by reason of or arising indirectly or directly out of:
11. Right of Lien/Set off:
Cardholder hereby grants and confirms the existence of the right of lien and set-off with the Bank, which the Bank may at any time without prejudice to any of its specific rights under any other agreements with me, at its sole discretion and without notice to me utilize to appropriate any moneys belonging to me and lying/deposited with the Bank or due by the Bank to me, towards any of the Bank’s dues and outstanding under or in respect of a loan facility, including any charges/fees/dues payable under these Terms and Conditions.
12.1 Notwithstanding anything to the contrary the Bank, or its successors, assigns, and each of their directors, officers, employees, associates, agents, and representatives shall, in no event be liable, directly or indirectly, to the Cardholder or the Corporate or any other person for any direct, indirect, incidental, special, consequential, punitive or economic loss, expense, damage or any downtime costs, loss of revenue or business opportunities, loss of profit, loss of anticipated savings or business, loss of data, loss of goodwill or loss of value of any equipment including software in case of:
12.2 The Cardholder’s liability for the loss incurred in case of any unauthorised transaction undertaken through the account shall be subject to the Bank’s compensation policy, updated from time to time, in accordance with the Applicable Law and available on the Bank’s website.
12.3 The Bank is under no obligation to monitor the Merchant Establishment's service/products used by the Cardholder. The Merchant Establishment alone will be responsible for all obligations under the contract including (without limitation) warranties or guarantees. Any dispute with or complaint against any Merchant Establishment must be directly resolved by the Cardholder with the Merchant Establishment. It is clarified that the Bank shall not be responsible or liable for any deficiency in goods and/or services purchased using the Card.
10.4The Cardholders are instructed to satisfy themselves regarding the quality, quantity and fitness of any good and/or service before purchasing the same including but not limited to any defect in quality of goods or services supplied.
For details on charges, refer to tariff annexure enclosed as part of this Terms and Conditions of Use. These charges are subject to changes at the sole discretion of Bank and the same shall be binding on the Card holder.
14. Lost, stolen or misuse of Cards:
User agrees that the obligation of the safety and security of the Card shall solely rest with the Corporate or the Cardholder as the case maybe. If the Card or its PIN is lost, stolen or misused Corporate or Cardholder as the case may be shall immediately contact the Customer Service Centre on the telephone numbers listed on the backside of the Card. The Corporate or Cardholder as the case may be must file a report with the local police and send a copy of the same to the Bank. The Bank upon adequate verification of information will suspend the Card temporarily. The Cardholder is solely liable for any transaction or loss incurred due to the loss of the Card, up to the time where the Card is suspended by the Bank. The Card shall be blocked immediately after reporting. Bank shall not be liable for any loss by the misuse of the Card. The charges for usage of such services shall be borne by the Cardholder. The Cardholder will be liable for all transactional loss / any incidental charges incurred on the Card until the Card is hot listed /cancelled. Bank shall not be liable for the misuse, loss or theft of Cards.In case of loss of the Card the new Card will be reissued at the sole discretion of the Bank and as per the charges determined by the Bank.
15. Disclaimer of Warranties:
The Bank disclaims all warranties, express or implied, regarding correspondence with description, satisfactory quality, fitness for a particular purpose and non-infringement of any services or any goods provided or incidental to the services provided under this Agreement Subject to the aforesaid the Bank disclaims all warranties, express or implied, other than those specifically agreed by it.
The Cardholder acknowledges that the information on his/her usage of Card is exchanged amongst banks and financial entities that provide corporate facilities. Acceptance of an Application for Card is based on no adverse reports of the individual's creditworthiness and compliance of KYC norms. Bank may report to other banks or financial entities any delinquencies or suspicious activities and/or transactions done on the card, and/or withdrawal of the Cardholder’s facility to use the card.
Based on the receipt of adverse reports, Bank may cancel the Card. Bank shall not be obliged to disclose to the Cardholder the name of the bank or financial entity, from where it received, or to which it disclosed information. The Cardholder shall forthwith notify Bank of any change in his/her address for communication as stated in the application form for the Card. Bank reserves the right to change the Cardholder’s address in its records if such change in address comes to the notice of Bank. The responsibility shall be solely of the Cardholder to ensure that Bank has been informed of the correct address for communication, and Bank disclaims all liability in case of an incorrect address resulting in any loss or liability for the Cardholder.
The Cardholder authorizes the Bank to disclose, exchange, share or part with all or any information or documents relating to the Cardholder’s details and payment history information pertaining to and contained in these Terms and Conditions and Conditions, or as expressed in the Application made for the Card or in the dealings between the Cardholder and the Bank for any purpose to:
(i) Bank’s Head office or to any other branches, subsidiaries or associated or affiliated companies of the Bank;
(ii) Professional advisers of the Bank;
(iii) Any potential or actual purchaser/assignee of the Bank or of any of its businesses, rights, assets or obligations; or
(iv) to any other person where disclosure is required under Applicable Laws
The Cardholder agrees to adhere to and comply with all such Terms and Conditions and Conditions as Bank or its affiliates may prescribe, from time to time, for facilities/services availed of by the Cardholder.
17. Governing Law and Jurisdiction:
These Terms and Conditions and / or the transaction shall be governed by applicable Indian Law and regulations and all courts in Mumbai shall have the exclusive jurisdiction as regards any claims or matters arising out of the use of the Card.
18. Responsibility for Disputes with ME or Shared Network
Bank shall not in any manner be responsible for any disputes regarding goods and services received by the Cardholder including the quality, value warranty, delay of delivery, non-delivery, non-receipt of any goods or services. It must be clearly understood that the Card is only a facility to the Cardholder to avail facilities and the Bank holds out no warranty or makes no representation about quality, quantity, value, delivery or otherwise, howsoever regarding goods or services, and any such disputes should be resolved by the Cardholder with the merchant directly Any dispute in respect of a Shared Network will be resolved as per VISA / MasterCard/ Rupay regulations. Bank does not accept responsibility for any dealings the Cardholder may have with Shared Networks. Should the Cardholder have any complaints concerning any Shared Network ATM, the matter should be resolved by the Cardholder with the Shared Network, and failure to do so will not relieve him from any obligations to Bank. However, the Cardholder should notify RBL Bank of the complaint immediately
19, Quality of goods & services:
Bank shall not, in anyway, be responsible for merchandise, merchandise warranty or any services purchased, or availed of by the Cardholder from merchant establishment, including on account of deficiency in services 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 Cardholder to purchase goods and/or avail of services, Bank holds out no warranty or makes no representation about quality, delivery or otherwise of the merchandise and of the services provided by the merchant establishment. Any dispute or claim regarding the merchandise or services must be solved by the Cardholder with the merchant establishment. The existence of the claim or dispute shall not relieve the Cardholder of his/her obligation to pay all the charges and the Cardholder agrees to pay promptly such charges, dues, notwithstanding any dispute or claim, whatsoever. However, the Cardholder should notify RBL Bank of the complaint immediately
20. Amendment of Terms and Conditions:
Bank reserves the right to change, at any time, these Terms and Conditions and Conditions, features and benefits offered on the card including, without limitation to, changes which affect existing balances or rates. The Cardholder shall be liable for all charges incurred and all other obligations under these revised Terms and Conditions
Bank may communicate the amended Terms and Conditions by hosting the same on its website or in any other manner as decided by the Bank. The Cardholder shall be responsible for regularly reviewing these Terms and Conditions including amendments thereto as may be posted on the website of Bank and shall be deemed to have accepted the amended Terms and Conditions by continuing to use the Card.
Bank may, at any time and subject to applicable law, change or delete or any provision, add or change to, these Terms and Conditions and Conditions. This includes the right to add or change (including to increase or decrease) any charges. Revised Terms and Conditions shall be updated on ww.rblbank.com from time to time.
21. Banks Authority
The Bank has the absolute discretion to withdraw the Card and/or the services thereby provided or amend or supplement any of the above Terms and Condition at any time without prior notice to the Cardholder.
All authorizations and power conferred on the Bank by regulatory or statutory authority and in accordance with Applicable Law are irrevocable.
The Card is the property of the Bank and must be returned to an authorized person of the Bank on request or surrender the Card to the Bank in the event of the Cardholder no longer requiring the services or is directed to do so by the Bank.
The Bank shall have the right to not return the application, the photographs, information and documents submitted by the Cardholder/Corporate. The Bank shall, without notice to or without any consent of the Cardholder, be absolutely entitled and have full right, power and authority to make disclosure of any information relating to Cardholder including personal information, details in relation to documents, products/services offered, defaults, security, obligations of Cardholder, to the Credit Information Bureau of India (CIBIL) and/or any other governmental/regulatory/statutory or private agency/entity, credit bureau, RBI, the Bank other branches/subsidiaries/affiliates/rating agencies, service providers, other banks/financial institutions, any third parties, any assignees/potential assignees of transferees, who may need the information and may process the information, publish in such manner and through such medium as may be deemed necessary by the publisher/Bank/RBI, including publishing the name as part of willful defaulter’s list from time to time.
The Bank shall have the right to make use of the information of the Cardholder for the purpose of KYC information verification, credit risk analysis, or for other related purposes. In this connection, the Cardholder waives the privilege of privacy and privacy of contract.
The Bank shall have the right, without notice to or without any consent of the Cardholder to approach, make enquiries, obtain information, from any person including other banks/finance entities/credit bureaus, Cardholder’s Corporate/family members, any other person related to the Cardholder, to obtain any information for assessing track record, credit risk, or for establishing contact with the Cardholder or for the purpose of recovery of dues from the Cardholder.
In the event of any disagreement or dispute between Bank and the Cardholder and Corporate regarding the materiality of any matter including of any event, occurrence, circumstance, change, fact, information, document, authorisation, proceeding, act, omission, claims, breach, default or otherwise, the decision of the Bank as to the materiality of any of the foregoing shall be final and binding on Cardholder and Corporate. The Cardholder and Corporate shall be bound by these Terms and Conditions and policies stipulated by Bank, from time to time, in this regard.
22. Severability and Waiver:
Each of the provisions of these Terms and Conditions is severable and distinct from the others and if at any time, one or more of such provisions is or becomes illegal or unenforceable in any respect under the laws of any jurisdiction, the legality, validity or enforceability of the remaining provisions shall not be affected in any way. No act, delay or omission by the Bank shall affect its rights, powers and remedies under these Terms and Conditions and Conditions or other further exercise of such rights, powers or remedies. The rights and remedies under these Terms and Conditions are cumulative and not exclusive of other rights and remedies provided by law.
The Bank may provide the Cardholder with notices and communications in relation to the Card by e-mail, SMS, push notifications, regular postal mail or postings on its Cardholder Portal or by any other reasonable means, at the registered contact details provided by the Corporate at the time of the Application. All notices in connection with the Card addressed to the Bank shall be in writing and sent to the address as provided below and all notices shall be deemed to be received by the Bank only upon acknowledgment of receipt of the same in writing by the Bank, as the case may be.
RBL Bank Limited
1st Floor, Umang Towers, Unit No. 101,
Bldg # 1, Mindspace, Malad West, Mumbai – 400064
24. Unauthorized Transactions, Customer Complaints and Disputes/Grievance Redressal /escalation:
24.1 Since the transactions using the Card requires authentication by secret PIN known to the Cardholder only any charge slip, or other payment requisition irrespective of whether it has the signature of Cardholder therein shall be conclusive proof that the charge recorded on such a charge slip or other requisition, was properly incurred by the Card Holder. The other payment requisition referred to in this clause shall include any and all payment pertaining to permissible expenses incurred by a Cardholder for online transactions or at a merchant establishment by use of the card which is not recorded as a charge. Any disputed transaction on the card shall be raised by the Cardholder/s with Bank’s Customer care center only within ninety (90) days from the date of the transaction. Any dispute raised by the Cardholder/s after ninety (90) days from the date of the transaction shall not be entertained and the Bank shall not be liable for the same in any manner whatsoever.
Please contact Akudo Technologies via the in-app ‘Help’ section or by calling on 080 47186397. In case, a resolution is still not met, the cardholder can contact RBL bank -
Contact particulars of 24 hour call centers (RBL bank) : +91 22 6115 6300
In the event you are not satisfied with the resolution to your queries, you may send a mail to our regional nodal officer and we will resolve the query within 10 working days. For more details and for the updated email id please refer our website www.rblbank.com or you can click on the below link http://www.rblbank.com/pdfs/grievances/regional-nodal-officer.pdf
Level 1 – Please call on our toll free number - +91 22 6115 6300 for any queries / complaints
Level 2 – In case the Cardholder/Corporate is not satisfied with the response of the Bank, Cardholder/Corporate can write to any of our regional nodal officers mentioned below. The Bank will respond within 10 days.
Nodal Officer Name
Location / Zone
Ms Preethi Vijaygopal
South & Goa
RBL Bank Limited
(Formerly: The Ratnakar Bank Limited) First Floor, Rashmi Towers , No.1, Valluvarkottam High Road, Nungambakkam, Chennai – 600 034
Mr. Zaheerul Hasan
Delhi, NCR, Uttar Pradesh, Gujarat, Rajasthan, Punjab
RBL Bank Limited Upper Ground Floor, Hansalaya Building, 15, Barakhamba Road, New Delhi, 110001.
Ms. Michelle Alistair
MP & Kolkata
RBL Bank Limited Thapar House, 25 Brabourne Road, 1st Floor, Kolkata – 700 001.
Ms. Sejal Rajput
RBL Bank Limited India Bulls Centre, Tower 2B, 9th Floor, 841 Senapati Bapat Marg, Lower Parel – 400 013.
Level 3 - In case you are still not satisfied with the response of the Bank, the same can be escalated to the Principal Nodal officer at “firstname.lastname@example.org”
The Principal Nodal Officer will respond within 10 days.
If the reply from Principal Nodal Officer fails to address the said grievance, Cardholder/Corporate may write to the Banking Ombudsman. Please follow the link to reach the Banking Ombudsman - https://www.rbi.org.in/commonman/English/Scripts/AgainstBankABO.aspx
24.2 The liability of the Bank or Cardholder for any unauthorized transaction shall be:
1. Zero Liability of a Cardholder - A Cardholder’s entitlement to zero liability shall arise where the unauthorized transaction occurs in the following manner:
(a) Contributory fraud/ negligence/ deficiency on the part of the bank (irrespective of whether or not the transaction is reported by the Cardholder)
(b)Third party breach where the deficiency lies neither with the bank nor with the Cardholder but lies elsewhere in the system, and the Cardholder notifies the bank within three working days of receiving the communication from the bank regarding the unauthorized transaction.
24.3 Limited Liability of a Cardholder - A Cardholder shall be liable for the loss occurring due to unauthorized transactions in the following cases:
24.4 In case the Cardholder notifies the Bank after seven working days of receiving the communication from the Bank regarding the unauthorized transaction, the Cardholder liability shall be determined as per the Banks board approved policy.
25. Help Line
Please contact us at Akudo Technologies via the in-app ‘Help’ section, by writing to email@example.com or by calling on 080 47186397. In case, a resolution is still not met, the cardholder can contact RBL bank at our Cardholder Care Centre No. +91 22 6115 6300 or Email us at firstname.lastname@example.org. You can also write to us at RBL Bank Limited, 1st Floor, Umang Towers, Unit No. 101, Bldg # 1, Mindspace, Malad West, Mumbai - 400064
Charges** (Excluding GST)
Card Issuance Fee
Annual Membership Fee
Card Replacement / Reissuance Fee
ATM Cash Withdrawal Fee
ATM Balance Enquiry
Card Renewal Fee
ATM Pin Reissuance
Charge Slip Retrieval Request
Mini Statement through ATM (last 10 txn)
** Applicable taxes additional