Terms and Conditions

These terms and conditions form the contract between the USER and the BANK and shall be in addition to and not in derogation of other terms and conditions relating to any account of the USER and/or the respective product or the service provided by the BANK.

The following words and phrases shall have the meanings set out herein below in this document unless repugnant to the context:

• "Account" shall mean AXIS Bank savings bank account held by a User.
• "Bank" and "Axis Bank" shall mean Axis Bank Limited, a company incorporated under the Companies Act 1956 and licensed as a bank under Banking Regulation Act, 1949 having its registered office at 'Trishul', 3rd Floor, Opposite Samartheshwar Temple, Law Garden, Ellis Bridge, Ahmedabad 380 006, Gujarat and corporate office at Axis House, Axis Bank Limited, Wadia International Center, Worli Mumbai 400 025.
• "Remitter" or "User" shall mean a customer of AXIS Bank holding an Account and availing of the Facility.
• "Beneficiary" shall mean an AXIS Bank customer or a NON AXIS Bank customer including an individual not having any existing banking relationship, as the case may be.
• "Facility" shall mean the IMT facility provided by AXIS Bank to the Users, by the use of which the Users can remit funds to the Beneficiary from their Account through the modes specified by AXIS Bank.
• "Mobile Phone Number" shall mean the number specified by the User during the initiation of IMT.

By availing the Facility, the User can transfer amounts in the multiples of Rs. 100, subject to a minimum of Rs. 100 and maximum of Rs 10,000.

On submission of a request from the User for transfer of funds to the Beneficiary, the same shall be processed by the Bank. The Remitter shall communicate the Sender Code to the Beneficiary in order to enable him/her to receive the funds being transferred to him/her. On receipt of instruction from the Remitter in the manner and through any of the eligible modes as are specified by AXIS Bank, for funds transfer by use of the Facility, the Beneficiary shall be sent an SMS containing a four (4) digit numeric code ("SMS Code") on such mobile number as may be intimated by the Remitter at the time of placing the request for funds transfer ("Beneficiary Mobile Number"). The User shall have to communicate the Sender Code to the Beneficiary, in order to enable him to receive the funds transferred by use of the Facility.The User will need to provide the Beneficiary's Name, Address and Mobile Number, electronically. The channels for providing this information are multiple. Currently, the enabled channels for providing this information are through Internet Banking and via SMS. By doing this, the User certifies that he knows the Beneficiary and if requested by the Bank or RBI, he would need to provide more details about the beneficiary and the transactions. If the Beneficiary details are not received from the sender within a window of 24 hours, the transaction is cancelled, and the amount is credited back to the User's account. However, the fees is not reversed.Axis Bank reserves the right to obtain further details of the beneficiary in pursuit of internal compliance or external law enforcement inquiries, based on transaction analysis for suspicious names or suspicious transactions, in accordance with the provisions of the Prevention of Money Laundering Act 2002 and the rules framed thereunder.

The Beneficiary shall be entitled to receive the funds transferred by the Remitter by using the Facility only on submission of the Beneficiary Mobile Number, Sender Code, SMS Code and the amount transferred and following of such steps/ processes as may be prescribed by AXIS Bank to such of the ATMs of AXIS Bank as may be specified in this respect. AXIS Bank shall be entitled not to provide the funds to the Beneficiary in the event if incorrect details are submitted by the Beneficiary or the Beneficiary is unable to ascertain his/her true identity for any other reason and in such event AXIS Bank shall not be liable in any manner to the Beneficiary or the Remitter. The Beneficiary shall approach any of the specified AXIS Bank ATM to withdraw the cash transferred within the time frame of the transfer being made by the User or such other time as may be prescribed by AXIS Bank from time to time, failing which the transaction will be deemed to be cancelled and the amount will be credited back into the user Account. The entire amount transferred to the Beneficiary shall be withdrawn by the Beneficiary at once and no part withdrawals shall be permitted.

The User shall be entitled to transfer fund by use of the Facility to each Beneficiary upto such limit in such period, as may be prescribed by AXIS Bank, from time to time.

Please note that AXIS Bank is entitled to charge a non-refundable fee per transaction to the Remitter and the Beneficiary for using this facility. This fee can be a flat amount or variable sum as per the transaction amount / mode. This fee will be charged to the sender upfront at the time of initiation of the transaction. In case of cancellation / expiry / blocking of an IMT transaction, this fee will not be reversed to the Remitter or the beneficiary.

Refund for IMT transaction can happen in two scenarios:

• Cancellation: If user cancels the transaction then Refund for transaction amount (excluding service charges) will get processed on the next working day.
• Expiry: IMT transaction gets expired if is not withdrawn by the Beneficiary customer, within 10 working days from transaction initiation. Transaction amount (excluding service charges) would be refunded to you within 10 working days.

The User irrevocably and unconditionally authorises AXIS Bank to access his Account for effecting instructions for funds transfer through the Facility and to share the Account information with any third parties for the purpose of accepting/ executing such requests of the User.

All the records of the transactions that is received by the User at the time of operation of Facility is a record of the operations so carried out by the User and shall not be construed as AXIS Bank's own record of the transaction maintained through computer system or otherwise shall be accepted as conclusive and binding for all purpose. All records of AXIS Bank generated by the transactions arising out of use of the Facility, including the time of the transaction recorded shall be conclusive proof of the genuineness and accuracy of the transactions.

The user takes the responsibility for the correctness of the information supplied by him to the Bank through the use of the said facility or through any other means such as electronic mail or written communication.

The user herein accepts that in case of any discrepancy in the information provided by him with regard to this facility the onus shall lie upon the user only and thus agrees to furnish accurate information at all times to the bank. If the User suspects that there is an error in the information supplied by Bank to him, he shall inform the Bank immediately. The Bank will endeavor to correct the error promptly wherever possible on a best effort basis.

The Bank shall also not be responsible for any incidental error which occurs inspite of necessary steps being taken by the bank to ensure the accuracy of the information provided to the user and the user shall not have any claim against the bank in an event of any loss/damage suffered by the user as a consequence of the inaccurate information provided by the bank.

The User agrees that AXIS Bank shall not be liable if:

• the User has breached any of the terms and conditions contained herein or
• the User has contributed to or the loss is a result of failure on part of the User to advise AXIS Bank within a reasonable time about unauthorized access of or erroneous transactions in the Account by use of the Facility; or

AXIS Bank shall endeavor to provide the Facility on a best effort basis and the User shall not hold AXIS Bank liable for non-availability of the Facility or non-performance by service providers, if any, engaged by AXIS Bank or any loss or damage caused to the User as a result of use of the Facility for causes which are not attributable to AXIS Bank. AXIS Bank shall not be liable in any manner to the User in connection with the use of the facility. Without limitation to the other provisions of this terms and conditions. AXIS 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 User or any person howsoever arising from or relating to any delay, interruption, suspension, resolution or error of AXIS Bank in receiving and processing the request or any failure, delay, interruption, suspension, restriction, or error in AXIS Bank's system and/or any third party who provides such services as is necessary to provide the Facility.

Notwithstanding anything in the contrary provided in this terms and conditions AXIS Bank shall not be involved in or in any way liable to the User for any dispute between the User and the Beneficiary.

The User agrees that AXIS Bank may hold and process his personal information concerning his Account on computer or otherwise in connection with the Facility as well as for analysis, credit scoring and marketing. The User also agrees AXIS Bank may disclose, in strict confidence, to other institutions, such information as may be reasonably necessary for reasons inclusive of but not limited compliance with legal directive, for credit rating by recognized credit scoring agencies, and for fraud prevention.

AXIS Bank will not be liable for:

• acting in good faith on any instructions received by AXIS Bank from or on behalf of the User in relation to the Facility;
• error, default, delay or inability of AXIS Bank to act on all or any of the instructions given by the User
• loss of any information/instructions in transmission;
• unauthorized access by any other person to any information /instructions given by the User or breach of confidentiality;

In consideration of AXIS Bank providing the Facility, the User, at his own expense, agrees to indemnify, defend and hold harmless, AXIS Bank, its directors and employees, representatives, agents, as the case may be, against all losses, damages, expenses, actions, claims, demands and proceedings whatsoever, that AXIS Bank may incur, sustain, suffer or be put to at any time as a consequence of acting on or omitting or refusing to act on any instructions given by the User or otherwise for use of the Facility.

AXIS Bank is entitled to charge a non-refundable fee per transaction to the Remitter and the Beneficiary for using this facility. This fee can be a flat amount or variable sum as per the transaction amount / mode. This fee will be charged to the sender upfront at the time of initiation of the transaction. The beneficiary will be charged (if implemented by the Bank) at the time of withdrawal. In case of cancellation / expiry / blocking of an IMT transaction, this fee will not be reversed to the Remitter or the beneficiary.

There will be no other charges for withdrawal or cancellation or status enquiry of IMT in any of the channels enabled by the Bank.

Even in the event of the amount transferred by use of the Facility is not withdrawn by the Beneficiary within the period as prescribed by AXIS Bank and such monies are consequently credited back into the Account or the user himself/herself cancelling the IMT the fees charged to the user will not be reversed back.

AXIS Bank shall have the discretion to charge such fees as it may deem fit from time to time and may at its sole discretion, revise the fees for use of any or all of the Facility, by notifying the User of such revision through Bank website or in any manner as may be specified by AXIS Bank from time to time. The User shall be required to refer to the schedule of fees put up on Axis bank website from time to time.

The Bank reserves the absolute discretionary right to make any amendments in the given terms and condition at any time as it may deem fit without any prior notice to the user. Any such amendment shall be communicated to the user by displaying on the website http://www.axisbank.com; and the USER shall be bound by such amended terms and conditions. The User shall be responsible for regularly reviewing these Terms and Conditions including amendments thereto as may be posted on website and shall be deemed to have accepted the amended Terms and Conditions by continuing to use the Facility.

AXIS Bank may, at its discretion, withdraw temporarily or terminate the Facility, either wholly or in part, at any time without giving prior notice to the User. AXIS Bank may, without prior notice, suspend the Facility at any time during which any maintenance work or repair is required to be carried out or in case of any emergency or for security reasons, which require the suspension of the Facility. AXIS Bank shall Endeavour to give a reasonable notice for withdrawal or termination of the Facility.

The closure of the Account of the User will automatically terminate the Facility. AXIS Bank may suspend or terminate Facility without prior notice if the User has breached these Terms and Conditions or AXIS Bank learns of the death, bankruptcy or lack of legal capacity of the User.

The Bank and the user may give notice under these terms and conditions electronically to the mailbox of the user (which will be regarded as being in writing) or in writing by delivering them by hand or by sending them by post to the last address given by the User and in case of Axis Bank at its office at Mobile Banking Division, Axis Bank, Axis House, 3rd Floor, Wadia International Centre, Pandurang Budhkar Marg, Worli, Mumbai - 400 025. In addition, the Bank shall also provide notice of general nature regarding the facility and terms and conditions, which are applicable to all users of the Facility, on the website http://www.axisbank.com and/ or also by means the customized messages sent to the user over his mobile phone as short messaging service ("SMS"). In addition the bank may also publish notices of general nature, which are applicable to all users of the facility. Such notices will be deemed to have been served individually to each user.

The construction, validity and performance of these Terms and Conditions shall be governed in all respects by the laws of India. The parties hereby submit to the exclusive jurisdiction of the competent Courts at Mumbai, India which courts shall have jurisdiction in the matter to the exclusion of any other courts, irrespective of whether such other courts have similar jurisdiction in the matter. The Bank is absolved of any liability arising, direct or indirect, for non-compliance with the laws of any country other than India where the facility is accessible.

AXIS Bank 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 User maintained with AXIS Bank and / or Affiliates, 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 AXIS Bank and/or Affiliates (whether by way of security or otherwise pursuant to any contract entered/ to be entered into by the User in any capacity) towards the satisfaction of the User's liability under the Facility.