UNITED BANK OF INDIA

Size: px
Start display at page:

Download "UNITED BANK OF INDIA"

Transcription

1 UNITED BANK OF INDIA COMPENSATION POLICY FOR THE YEAR INTRODUCTION 1.1 Technological progress in payment and settlement systems and the qualitative changes in operational systems and processes that have been undertaken by the various Banks have enabled market forces of competition to come into play to improve efficiencies in providing better services to the customers. It is the bank s endeavour to offer services to its customers with best possible utilization of its technology infrastructure. Withdrawal of the Reserve Bank of India instructions to banks on time frame for collection of outstation cheques, payment of interest on delayed collection of outstation cheques/instruments, with effect from 1st November 2004, had offered bank further opportunities to increase its efficiency for better performance. This Compensation Policy of the Bank is therefore, designed to cover areas relating to unauthorized debiting of accounts, payment of interest to customers for delayed collection of cheques/instruments, payment of cheques after acknowledgement of stop payment instruction, remittances within India, foreign exchange services, lending etc. It will also cover certain other areas of deficiency in service including service issues pertaining to facility of nomination. The Policy is based on principles of transparency and fairness in the treatment of customers. 1.2 The objective of this policy is to establish a system whereby the bank compensates the customers for any financial loss he/she might incur due to deficiency in service on the part of the bank or any act of omission or commission directly attributable to the Bank. By ensuring that the customer is compensated without having to ask for it, the bank expects instances when the customer has to approach Banking Ombudsman or any other forum for redressal to come down significantly. 1.3 It is reiterated that the policy covers only compensation for financial losses which customer might incur due to deficiency in the services offered by the bank which can be measured directly and as such the commitments under this policy are without prejudice to any right the bank will have in defending its position before any forum duly constituted to adjudicate banker-customer disputes. 2. Unauthorised /Erroneous debit: 2.1 If there is an unauthorized/ erroneous direct debit to an account, the entry will be reversed immediately on being informed of the erroneous debit, after verifying the position. In the event of the unauthorized/ erroneous debit resulted in a financial loss to the customer by way of reduction in the minimum balance applicable for payment of interest on Savings Bank deposit or payment of additional interest to the bank in a loan account, the bank will compensate the customer to the extent of such loss. 2.2 If the customer has suffered any financial loss incidental to return of a cheque or failure of direct debit instructions due to insufficiency of balance on account of the unauthorised/erroneous debit, the bank will compensate the customer to the extent of such financial loss.

2 2.3 Bank will compensate the financial loss, supported with documentary evidence, to the extent of actual amount that the customer might incur due to deficiency in service on the part of the bank or any act of omission or commission directly attributable to the bank. A few instances of such unauthorised debits and /or erroneous debits entries and their possible impact on the interest of the customers are enumerated below:- (i) Return of telephone / electricity bill, school fees, insurance premiums where payment after due date may result in deprivation of rebate/ discount/ commission and / or imposition of fine/ penalty etc. In such cases, bank will compensate the actual amount of rebate/ discount/commission/ fines/ penalty etc., as the case may be. (ii) Due to wrong debit in a Savings Bank account the balance in the same may be less by that sum for the purpose of calculation of interest. To compensate the loss, the amount wrongly debited will be credited with value-dated effect. (iii) Consequent upon unauthorised/erroneous debit, due to fall in minimum balance in the account resulting in levying of service charges, if, any, will be refunded to the customer. (iv) Where amount deposited towards repayment/ installments in a loan account is not credited, additional interest is accrued on account of that amount. In such cases, the amount of excess interest so charged will be refunded in the loan account as compensation. (v) In case of running borrowal account, if an amount deposited by the customer is not credited in that account by mistake of the Bank, additional interest pertaining to that amount accrues in the account. On detection of such error, the amount is to be immediately credited in the account with value dated effect. (vi) In case of borrowal accounts, the cheque deposited by the customer for collection through local clearing, if not sent by the branch for reason whatsoever, additional interest accrued in the account arising out of non-credit of the amount of the cheque will be compensated by crediting the amount with value dated effect. 2.4 Time limit for verification of the entry reported to be erroneous by the customer. In case verification of the entry reported to be erroneous by the customer does not involve a third party, the bank shall arrange to complete the process of verification within a maximum period of seven (7) working days from the date of reporting of erroneous debit. In case, the verification involves a third party, the Bank will endeavour to complete the verification by the third party as early as possible, engage the third party for verification within 7 days from the receipt of information of erroneous debit entry. In case of suspected forgery, where the report of Govt. Examiner of Questioned Documents (GEQD) /CSFL, or overseas centre is required, the verification will require the time taken by these outside Agencies.

3 2.5 Reversal of erroneous debits arising on account of fraudulent or other transactions: (i) In case of any fraud, if the Bank is convinced that an irregularity/ fraud has been committed by its staff towards any constituent, Bank would at once acknowledge liability and pay the just claim. However, on getting information of irregularity/ fraud committed by staff towards any constituent, branch after verification of the fact, shall intimate the actual position to Vigilance Department at Head Office within three days with a copy to Regional office. After getting concurrence from Vigilance Department, officers at controlling office will sanction the amount (as per approved discretionary power) as restitution of losses and advise the branch for payment of the crystallized loss amount to the customer within 7 days from the date of receipt of such advice from the Controlling Office. (ii) In case the Bank is at fault, the customer would be compensated without demur in accordance with this policy. (iii) In cases where neither the branch nor the customer is at fault, but the fault lies elsewhere in the system, the Bank would compensate the customers, depending upon the facts of the case and on case to case basis upto 25% of the loss suffered by the customer subject to a maximum of Rs.1.00 lac only. The loss shall be ascertained by a committee comprising of three General Managers namely, General Manager in charge of Customer Services Deptt., General Manager in charge of Risk Management, and General Manager in charge of Inspection Department of the Bank. The amount of losses so ascertained will be intimated to the authority having the delegated discretionary power for restitution of losses for according sanction to the branch. 3. ECS direct debits /other debits to accounts. 3.1 The Bank, in the event of failure to meet the direct debit/ ECS debit instructions of the customer in time, will compensate to the extent of any financial loss that the customer would incur on account of delay in carrying out the instruction / failure to carry out the instructions. 3.2 The Bank will refund the amount of service charges debited in the customer s account in excess/ in violation of schedule of service charges when pointed out by the customer after proper scrutiny. 3.3 The Bank will also compensate the consequential financial loss, if any, to customer for debit of excess service charges after proper verification, scrutiny of agreed terms and conditions. 4. Payment of cheques after Stop Payment Instructions. In case a cheque has been paid after stop payment instruction is acknowledged by the Bank, the amount of the cheque will be reversed by the bank with value dated credit within 2 working days of the customer intimating the transaction to the bank. The Bank will compensate the financial loss, to the extent of actual amount that the customer might incur, after ascertaining and being satisfied about the amount of such loss.

4 5. Foreign Exchange Services. 5.1 The Bank will not compensate the customer for delay in collection of cheques designated in foreign currencies sent to foreign countries as the bank would not be able to ensure timely credit from overseas banks. Time for collection of instruments drawn on banks in foreign countries differ from country to country and even within a country, from place to place. The time norms for return of instruments cleared provisionally also vary from country to country. However, the bank will compensate the customer for undue delays in affording credit after seven days beyond the normal cooling period from the date of credit to the Nostro Account of the bank with its correspondent. Such compensation will be worked out as follows:- a) Interest for the delay in crediting proceeds as indicated in the cheque collection policy of the Bank. b) Compensation for any possible loss on account of adverse movement in foreign currency rate. 6. Payment of interest for delayed collection of outstation cheques : 6.1 The Bank will pay interest to the customer on the amount of collection instruments in case there is delay in giving credit beyond the time period mentioned hereinafter. Such interest shall be paid without demand from customers in all types of accounts. There shall be no distinction between instruments drawn on bank s own branches or on other banks for the purpose of payment of interest on delayed collection. Time frame for collection of outstation cheques : (a) Cheques presented at any of the four major metro centres (New Delhi, Mumbai, Kolkata & Chennai) and payable at any other three centres : Maximum period of 7 days. (b) Metro Centres and State Capitals (Other than those of North Eastern States and Sikkim) :Maximum period of 10 days (c ) In all other centres : Maximum period of 14 days. 6.2 Interest for delayed collection shall be paid by the Bank at the following rates. (a) Savings Bank rate for the period of delay beyond 7/10/14 days as the case may be in collection of outstation cheques. (b) Where the delay is beyond 14 days interest will be paid at the rate applicable for term deposit for the corresponding period or Savings Bank rate, whichever is higher. (c ) In case of extraordinary delay, i.e. delays exceeding 90 days interest will be paid at the rate 2 % above the corresponding Term Deposit Rate. (d) In the event the proceeds of cheque under collection were to be credited to an overdraft/loan account of the customer, interest will be paid at the rate applicable to the term loan account. For extraordinary delays, interest will be paid at the rate of 2% above the rate applicable to the loan account.

5 7. Compensation for financial loss suffered by the customer due to loss of instrument after it has been handed over to the bank for collection: 7.1 In case a cheque or an instrument accepted for collection is lost in transit or in the clearing process or at the paying bank branch, the bank shall immediately on coming to know about the loss, bring the same to the notice of the account holders so that the account holder can inform the drawer to record stop payment and can also take care that other cheques issued by him/her are not dishonoured due to non-credit of the amount of the lost cheque/instruments. The Bank will provide all assistance to the customer to obtain a duplicate instrument from the drawer of the cheque. 7.2 The Bank will compensate the account holder in respect of instruments lost in transit in the following way : (a) In case intimation regarding loss of instrument is conveyed to the customer beyond the time limit stipulated for collection (7/10/14 days, as the case may be) interest will be paid for the period exceeding the stipulated collection period at the rates specified for delayed collection of outstation cheques. (b) In addition, Bank will pay interest on the amount of the cheque for a further period of 15 days at Savings Bank Rate to provide for likely further delay in obtaining duplicate cheque/instrument and collection thereof. (c ) The Bank will also compensate the customer for any reasonable charges he/she incurs in getting duplicate cheque/ instrument upon production of receipt, in the event the instrument is to be obtained from a bank/institution who would charge a fee for issuance of duplicate instrument. (d) If the cheque/ instrument has been lost at the paying bank s branch the bank should have a right to recover the amount reimbursed to the customer for the loss of the cheque/instrument from the paying banker. 8. Payment of interest for delayed payment of pension/arrear pension/family Pension/ relief etc. 8.1 Disbursement of monthly pension to the Central Govt. pensioners/ family pensioners has to be disbursed during last four working days of the month except March. But in case of State Govt. pensioners, monthly pension is to be disbursed on the first working day of the next month. 8.2 In case of any delay, pensioners are entitled to receive 2% plus Bank Rate automatically without any claim by the pensioners, as per regulatory instruction of RBI. 9. Issue of duplicate Draft and compensation for delays. Duplicate draft will be issued within a fortnight from the receipt of such request from the purchaser thereof. For delay beyond the above stipulated period, interest at the rate applicable for Fixed Deposit of corresponding period will be paid as compensation to the customer for such delay.

6 10. Violation of code of conduct by the Bank s Agent. In the event of receipt of any complaint from the customer that the Bank s representative/ courier or a direct sales agent has engaged in any improper conduct or acted in violation of the Code of Bank s commitment to Customers, the Bank will compensate to the customer, on merit of the individual cases, the financial loss, on production of documentary evidence of such financial loss for the act of such representative/ courier or DSA after proper investigation. 11. Transaction of at par instruments of Co-operative Banks In case of arrangement for payment of at par instruments of co-operative banks, the Bank will not honour cheques drawn on current accounts maintained by other banks with it unless arrangements are made for funding cheques issued. Issuing bank will be responsible to compensate the cheque holder for non-payment/ delayed payment of cheques in the absence of adequate funding arrangements. 12. Delay in return of securities/documents/title deeds to mortgaged property All the securities, documents, title deeds to mortgaged properties will be returned to the customer within 15 days of the repayment of all dues with interest agreed to or contracted. If any right to set off is to be exercised for any other claim, the Bank will give due notice with full particulars about other claims and retain the securities/documents/ titled to mortgaged property till the relevant claim is settled or paid In case of delay in returning the securities/ documents/ title deeds to mortgaged property beyond 15 days of repayment of all dues with interest agreed to or contracted, the Bank will pay compensation at the rate of Rs.100/- per day beyond 15 days In the event of loss of title deeds to mortgaged property at the hands of the bank, the compensation will cover out of pocket expenses for obtaining duplicate or certified copy of the documents, besides normal compensation as stated above. 13. Compensation for failed ATM transaction. It is mandatory for the Bank to reimburse the customer, the amount wrongfully debited on account of failed ATM transaction within a maximum period of 7 days from the receipt of complaint. For any failure to re-credit the customer s account within 7 days, the Bank shall pay compensation of Rs.100/- per day beyond 7 days. This compensation will be credited automatically without any claim by the customer. 14. Other areas of deficiencies in services: 14.1 Where loan has been allowed against Bank s own Fixed Deposit Receipt and the Branch, after maturity of the FD does not adjust the loan account and thereby interest is charged on the loan outstanding, excess interest charged thereof in the loan account will be refunded to the customer Where the Branch after adjustment of the loan account does not remit/ credit the remaining amount of the pledged FD to the customer s account but keeps the balance in Deposit Suspense Account, the Bank will compensate to the customer the interest as payable for the amount kept in the Deposit Suspense A/C at Savings Bank Rate, if the customer has not been duly informed.

7 14.3 Where loan has been allowed against NSCs, KVPs, LIC policy and the Branch after maturity of the instruments does not collect the proceeds of the instruments in question from the concerned Post Offices/ LIC Offices, thereby charging interest in the loan account is continued, excess interest so charged in the loan account will be reversed to the customer immediately In case of affecting reversal of excess interest charged in the borrowal accounts due to non-adjustment of liquid securities like Fixed Deposits/ NSC/KVP/ LIC policy etc in time the concerned Branch will have to obtain prior permission /approval from the controlling Regional Offices In case reimbursement of expenses to the customers arising out of loss of instruments/securities the branch concerned will obtain prior approval from the respective Regional Office. 15. Facility of Nomination The nomination facility is intended to facilitate expeditious settlement of claims in the accounts of deceased depositors and to minimise hardship caused to the family members on the death of the depositors. The Bank will endeavour to drive home to the constituents the benefit of nomination facility and ensure that the message reaches all the constituents by taking all necessary measures for popularising the nomination facility among its constituents. Bank will give wide publicity and provide guidance to deposit account holders, locker hirers and depositors of safe custody articles on the benefits of the nomination facility. Bank will accept nomination forms as and when submitted by the customers. The account opening form will also contain space for nomination so that the customers can be educated about availability of such facilities. Nomination will be a rule to cover all existing and new accounts unless the customers prefer not to nominate. To popularise the nomination facility, publicity will be launched, including printing compatible message on cheque books, pass-books and any other literature reaching the customers. Periodical drives to cover all the existing accounts by nomination will also be undertaken. Acknowledgement of Nomination Bank will acknowledge the receipt of the duly completed form of nomination, cancellation and / or variation of the nomination. Such acknowledgement will be given to all the customers whether the same is demanded by them or not. Registering the nomination The Bank will register in its books the nomination, cancellation and / or variation of the nomination, if any, made by their depositor(s) / locker hirers/ depositors of safe custody articles. When an account holder has availed of nomination facility, the same will be indicated on the passbook so that, in case of death of the account holder, his relatives will be able to know from the pass book that the nomination facility has been availed of by the deceased depositor. Bank will therefore record on the face of the passbook the position regarding availment of nomination facility with the legend "Nomination Registered". This will also be done in the case of term deposit receipts.

8 Further in addition to the legend Nomination Registered, the Bank will also indicate the name of the Nominee in the Pass Books / Statement of Accounts / Term Deposit Receipts, in case the customer is agreeable to the same. Settlement of claims Bank will provide claim forms for settlement of claims of the deceased accounts to any person approaching the Bank/Branches for forms. Claim forms will also be put on Bank s website so that claimants may access and download the forms for filing claim with the Bank. Bank will settle the claims in respect of deceased depositors and release payments to nominee(s) immediately on receipt of the claim subject to production of proof of death of the depositor and suitable identification of the nominee(s), to the bank's satisfaction. In no case the period will exceed 15(Fifteen) days from the date of receipt of the claim from the nominee(s). Internal machinery to handle customer grievances Besides the Bank also has put in place its grievance redressal policy to ensure prompt redressal of all types of customer grievances. Any unresolved complaint/grievance relating to settlement of claim of the nominee will be referred to the standing committee on customer services by functional heads which will then offer its advice for redressal. Bank will report to the Customer Service Committee of the Board, at appropriate intervals, on an ongoing basis, the details of the number of claims received from nominees pertaining to deceased depositors / locker-hirers / depositors of safe custody article accounts and those pending beyond the stipulated period, giving reasons there for. 16. However, adoption of the compensation policy will not absolve accountability of the concerned officers/staff members responsible for the lapses / deficiencies leading to financial loss to the Bank. 17. Force Majeure The Bank shall not be liable to compensate customers for delayed credit if some unforeseen events, including but not limited to civil commotion, sabotage, lockout, strike or other labour disturbances, accidents, fires, natural disasters or other acts of God, war, damage to the bank s facilities or of its correspondent bank(s), absence of the usual means of communication or all types of transportation, etc beyond the control of the bank prevents it from performing its obligations within specified service delivery parameters.

CUSTOMER COMPENSATION POLICY

CUSTOMER COMPENSATION POLICY CUSTOMER COMPENSATION POLICY 1.1. 1.2. 1.3. 1.4. 1.4.1. 1.4.2. 1.4.3. 1.4.4. This Compensation Policy of the Bank is designed to cover all the incidences where the Bank is liable to make good any financial

More information

Compensation Policy. Introduction

Compensation Policy. Introduction Compensation Policy Introduction Technological progress in payment and settlement systems and the qualitative changes in operational systems and processes that have been undertaken by various players in

More information

G. Bank s Compensation Policy

G. Bank s Compensation Policy G. Bank s Compensation Policy G (1): Preamble Technological progress in payment and settlement systems and the qualitative changes in operational systems and processes that have been undertaken by various

More information

COMPENSATION POLICY. The policy is based on the principles of transparency and fairness in the treatment of customers.

COMPENSATION POLICY. The policy is based on the principles of transparency and fairness in the treatment of customers. Introduction COMPENSATION POLICY Technological progress in payment and settlement systems and the qualitative changes in operational systems and processes that have been undertaken by various players in

More information

Westpac India - Customer Compensation Policy

Westpac India - Customer Compensation Policy Westpac India - Customer Compensation Policy Dated 27 th February 2013 FOR INTERNAL USE ONLY 1 P a g e Customer Compensation Policy of Westpac India FOR INTERNAL USE ONLY WESTPAC INDIA CUSTOMER COMPENSATION

More information

Reg: -The J & K Bank Compensation Policy

Reg: -The J & K Bank Compensation Policy Annexure-I Introduction Reg: -The J & K Bank Compensation Policy Technological progress in payment and settlement systems and the qualitative changes in operational systems and processes that have been

More information

- INDIA. Compensation Policy. Introduction

- INDIA. Compensation Policy. Introduction - INDIA Compensation Policy Introduction Technological progress in payment and settlement systems and the qualitative changes in operational systems and processes that have been undertaken by various players

More information

Credit Agricole CIB - India

Credit Agricole CIB - India Introduction Technological progress in payment and settlement systems and the qualitative changes in operational systems and processes that have been undertaken by various players in the market have enabled

More information

Oriental Bank s Compensation Policy 2014-15

Oriental Bank s Compensation Policy 2014-15 Oriental Bank s Compensation Policy 2014-15 Introduction Compensation Policy of Bank is designed to cover areas relating to unauthorized debiting of account, payment of interest to customers for delay

More information

COMPENSATION POLICY. Introduction

COMPENSATION POLICY. Introduction COMPENSATION POLICY Introduction Technological progress in payment and settlement systems and the qualitative changes in operational systems and processes that have been undertaken by various players in

More information

COMPENSATION POLICY IN THE BANK

COMPENSATION POLICY IN THE BANK MAHARASHTRA GRAMIN BANK HEAD OFFICE: CIDCO, AURANABGAD COMPENSATION POLICY IN THE BANK CUSTOMER RIGHT POLICY ON COMPENSATION POLICY IN THE BANK AS PER GUIDELINGS OF IBA & BCSBI Maharashtra Gramin Bank

More information

The customer should approach the bank within a maximum period of six months from the date of erroneous debit.

The customer should approach the bank within a maximum period of six months from the date of erroneous debit. COMPENSATION POLICY We offer high levels of service to our customers. In the event, for some reason beyond our control or inadvertently, we are unable to meet the service levels committed by us in our

More information

Compensation Policy. Introduction

Compensation Policy. Introduction Compensation Policy Introduction Technological progress in payment and settlement systems and the qualitative changes in operational systems and processes that have been undertaken by various players in

More information

Customer Compensation Policy

Customer Compensation Policy Customer Compensation Policy Introduction The Compensation Policy (the Policy) of the Bank is a reflection of the Bank s on-going efforts to provide better service to our customers and set higher standards

More information

2 Deficiencies requiring compensation and the level of compensation

2 Deficiencies requiring compensation and the level of compensation ANNEXURE B Introduction CUSTOMER COMPENSATION POLICY 1.1 Compensation Policy of Bank is designed to cover areas relating to unauthorized debiting of account, payment of interest to customers for delay

More information

Compensation Policy, Citibank, N.A., India

Compensation Policy, Citibank, N.A., India Revised: April 2015 Compensation Policy, Citibank, N.A., India Introduction This Compensation Policy of the Bank is designed to cover areas relating to unauthorized debiting of account, payment of interest

More information

Rabobank International CUSTOMER COMPENSATION POLICY (BANKING SERVICES)

Rabobank International CUSTOMER COMPENSATION POLICY (BANKING SERVICES) Rabobank International CUSTOMER COMPENSATION POLICY (BANKING SERVICES) 1 Contents Para No. Particulars Page No. 1 Introduction 2 2 Objective 2 3 Recognition of deficiency and compensation 2 A Unauthorised

More information

Mizuho Bank, Ltd. Compensation Policy Revised on February24,2014

Mizuho Bank, Ltd. Compensation Policy Revised on February24,2014 Mizuho Bank, Ltd Compensation Policy Revised on February24,2014 DISCLAIMER This policy has been prepared on the basis of existing risk management policies in the Bank, the best practices in the industry

More information

Customer Compensation Policy

Customer Compensation Policy Customer Compensation Policy Introduction HDFC Bank offers high levels of service to its customers. In the event, for some reasons beyond the control of the bank or inadvertently, the bank is unable to

More information

Introduction 1. Erroneous debits arising on transactions specified herein below:

Introduction 1. Erroneous debits arising on transactions specified herein below: Compensation Policy Introduction We (the Bank ) offer high levels of service to our customers. In the event, for some reason beyond our control or inadvertently, we are unable to meet the service levels

More information

Compensation Policy. 2.1 The policy is based on the principles of transparency and fairness in the treatment of our customers.

Compensation Policy. 2.1 The policy is based on the principles of transparency and fairness in the treatment of our customers. Compensation Policy 1. Objective of the Policy 1.1 The objective of the policy is to establish a system whereby the Bank compensates the customer for the financial loss he/she could incur due to deficiency

More information

CUSTOMER COMPENSATION POLICY FOR ABU DHABI COMMERCIAL BANK (INDIA)

CUSTOMER COMPENSATION POLICY FOR ABU DHABI COMMERCIAL BANK (INDIA) CUSTOMER COMPENSATION POLICY FOR ABU DHABI COMMERCIAL BANK (INDIA) Page 1 of 8 Table of Contents Page No. 1. Introduction 3 2. Objective 3 3. Deficiencies requiring compensation and the level of compensation

More information

Customer Care Centre HO:- 5 Sansad Marg, New Delhi CUSTOMER COMPENSATION POLICY

Customer Care Centre HO:- 5 Sansad Marg, New Delhi CUSTOMER COMPENSATION POLICY Introduction Customer Care Centre HO:- 5 Sansad Marg, New Delhi CUSTOMER COMPENSATION POLICY 1.1 Compensation Policy of Bank is designed to cover areas relating to unauthorized debiting of account, payment

More information

Compensation Policy. Introduction

Compensation Policy. Introduction Version: July 2016 Compensation Policy Introduction Technological progress in payment and settlement systems and the qualitative changes in operational systems and processes that have been undertaken by

More information

Customer Compensation Policy

Customer Compensation Policy JPMorgan Chase Bank, N.A., Mumbai Branch Customer Compensation Policy Version 4.0 1 Introduction This Compensation policy of the J.P. Morgan Chase Bank N.A., Mumbai Branch ( Bank ) is designed to cover

More information

Sumitomo Mitsui Banking Corporation Customer Compensation Policy. Version: 02

Sumitomo Mitsui Banking Corporation Customer Compensation Policy. Version: 02 Sumitomo Mitsui Banking Corporation Customer Compensation Policy Version: 02 Table of Contents Table of Contents 1. Introduction...1 2. Unauthorized/Erroneous Debit...2 3. NACH debits/other debits to Accounts...3

More information

2. Direct debits/electronic payments (RTGS/NEFT)/other debits to accounts

2. Direct debits/electronic payments (RTGS/NEFT)/other debits to accounts Compensation Policy Introduction The objective of this policy is to establish a system whereby the bank compensates the customer for any financial loss he/she might incur due to deficiency in service on

More information

ALLAHABAD BANK HEAD OFFICE, KOLKATA

ALLAHABAD BANK HEAD OFFICE, KOLKATA ALLAHABAD BANK HEAD OFFICE, KOLKATA Policy on Collection of Cheques/Instruments for Individual Customers (Revised) PREAMBLE Keeping in view the technological progress in payment and settlement systems

More information

INDUSIND BANK LTD. POLICY ON COLLECTION OF CHEQUES / INSTRUMENTS

INDUSIND BANK LTD. POLICY ON COLLECTION OF CHEQUES / INSTRUMENTS INTRODUCTION INDUSIND BANK LTD. POLICY ON COLLECTION OF CHEQUES / INSTRUMENTS This collection policy of the Bank is a reflection of our on-going efforts to provide better service to our Customers and set

More information

Deutsche Bank Cheque Collection Policy Updated in November 2013

Deutsche Bank Cheque Collection Policy Updated in November 2013 Deutsche Bank Cheque Collection Policy Updated in November 2013 1. Introduction This collection policy of Deutsche Bank AG, India ( Bank ) is a reflection of our on-going efforts to provide better service

More information

POLICY ON COLLECTION OF CHEQUES/INSTRUMENTS AND DISHONOUR OF INSTRUMENTS

POLICY ON COLLECTION OF CHEQUES/INSTRUMENTS AND DISHONOUR OF INSTRUMENTS 1. Introduction POLICY ON COLLECTION OF CHEQUES/INSTRUMENTS AND DISHONOUR OF INSTRUMENTS Keeping in view the technological progress in payment and settlement systems and the qualitative changes in operational

More information

POLICY ON COLLECTION OF CHEQUES / INSTRUMENTS

POLICY ON COLLECTION OF CHEQUES / INSTRUMENTS POLICY ON COLLECTION OF CHEQUES / INSTRUMENTS This collection policy of the Bank is a reflection of our on-going efforts to provide better service to our customers and set higher standards for performance.

More information

Policy on Collection of Cheques/Instruments

Policy on Collection of Cheques/Instruments Punjab National Bank Operations, Payment and Settlement Division Customer Care Centre HO: 5, Sansad Marg, New Delhi-110001. Policy on Collection of Cheques/Instruments 1. Introduction Keeping in view the

More information

(FOR PRIVATE CIRCULATION)

(FOR PRIVATE CIRCULATION) 1 CUSTOMER COMPENSATION POLICY FY 2014-2017 (FOR PRIVATE CIRCULATION) 2 INDEX Sr.No CONTENTS PAGE NO. I PREAMBLE 3 II OBJECTIVE 3 III OWNERSHIP 3 IV VALIDITY 3 V APPLICABILITY 4 VI SCOPE 4 VII KEY ELEMENTS

More information

ABU DHABI COMMERCIAL Bank, India

ABU DHABI COMMERCIAL Bank, India ABU DHABI COMMERCIAL Bank, India Cheque Collection Policy November, 2011 DOCUMENT CONTROL SHEET Document Authorization Document Name Cheque Collection Policy Department/ Committee Authorized By Prepared

More information

CENTRAL BANK OF INDIA CHEQUE COLLECTION POLICY (REVIEWED AND UPDATED AS ON 31.01.2012)

CENTRAL BANK OF INDIA CHEQUE COLLECTION POLICY (REVIEWED AND UPDATED AS ON 31.01.2012) CENTRAL BANK OF INDIA CHEQUE COLLECTION POLICY (REVIEWED AND UPDATED AS ON 31.01.2012) Introduction: The Cheque Collection Policy of the Bank is a reflection of our on- going efforts to provide better

More information

AXIS BANK CUSTOMER COMPENSATION POLICY OF THE BANK

AXIS BANK CUSTOMER COMPENSATION POLICY OF THE BANK AXIS BANK 1. Objective of the Policy CUSTOMER COMPENSATION POLICY OF THE BANK 1.1. The objective of the policy is to establish a system whereby the Bank compensates the customer for the financial loss

More information

Compensation Policy February 2015

Compensation Policy February 2015 February 2015 Table of Contents S.N. Topics Page No. 1 Introduction 1 2 Objectives of Policy 2 3 Scope of Policy 3 4 Unauthorised / Erroneous Debits 4 5 ECS direct debits/other debits to accounts 5 6

More information

POLICY ON COLLECTION OF CHEQUES / INSTRUMENTS

POLICY ON COLLECTION OF CHEQUES / INSTRUMENTS POLICY ON COLLECTION OF CHEQUES / INSTRUMENTS OPERATIONS AND TECHNOLOGY SERVICE DEPARTMENT CENTRAL OFFICE, KARUR 639 002 POLICY ON COLLECTION OF CHEQUES / INSTRUMENTS POLICY TITLE POLICY ON COLLECTION

More information

CHEQUE COLLECTION POLICY

CHEQUE COLLECTION POLICY CHEQUE COLLECTION POLICY Introduction As a part of normal banking operations, the Bank undertakes collection of cheques deposited by its customers, some of which could also be drawn on non-local bank branches.

More information

Bank of America s Policy on Collection of Cheques

Bank of America s Policy on Collection of Cheques Bank of America s Policy on Collection of Cheques Section I - Introduction Bank of America s cheque collection policy is a reflection of our on-going efforts to provide better service to our customers

More information

ANZ Customer Grievance Redressal and Compensation Policy

ANZ Customer Grievance Redressal and Compensation Policy ANZ Customer Grievance Redressal and Compensation Policy TABLE OF CONTENTS PART A. CUSTOMER GRIEVANCE REDRESSAL POLICY PART B. COMPENSATION POLICY 8 3 PART A. CUSTOMER GRIEVANCE AND REDRESSAL POLICY Introduction

More information

ANNEXURE POLICY ON BANK DEPOSITS

ANNEXURE POLICY ON BANK DEPOSITS ANNEXURE POLICY ON BANK DEPOSITS 1. TYPES OF DEPOSIT ACCOUNTS: While various deposit products offered by the Bank are assigned different names, the deposit products can be categorized broadly into the

More information

Sumitomo Mitsui Banking Corporation Citizen charter. Version: 02

Sumitomo Mitsui Banking Corporation Citizen charter. Version: 02 Sumitomo Mitsui Banking Corporation Citizen charter Version: 02 Table of Contents Table of Contents 1. Introduction...1 2. Common practice followed by us...2 3. Fair banking practices...3 4. Common areas

More information

a. Clearing of Local (intra-city) cheques/instruments and payment of interest for delayed collections:

a. Clearing of Local (intra-city) cheques/instruments and payment of interest for delayed collections: POLICY ON COLLECTION OF CHEQUES/INSTRUMENTS Reserve Bank of India, vide its circular reference DBOD.No. Leg. BC.55/09.07.005/2004-05 dated November 1, 2004, withdrew instructions relating to (i) Immediate

More information

Terms and Conditions for Bank AL Habib Debit Card /Bank AL Habib ATM Card The Cardholder / Account Holder understands that by signing this

Terms and Conditions for Bank AL Habib Debit Card /Bank AL Habib ATM Card The Cardholder / Account Holder understands that by signing this Terms and Conditions for Bank AL Habib Debit Card /Bank AL Habib ATM Card The Cardholder / Account Holder understands that by signing this Application Form, the Cardholder / Account Holder agrees to all

More information

Standard Chartered Bank Outline on settlement of deceased accounts

Standard Chartered Bank Outline on settlement of deceased accounts Standard Chartered Bank Outline on settlement of deceased accounts This policy document on deposits outlines the process followed on deceased deposit accounts. It is expected that this document will impart

More information

SERVICE CHARGES FOR NRI ACCOUNTS

SERVICE CHARGES FOR NRI ACCOUNTS SERVICE CHARGES FOR NRI ACCOUNTS Please Note: These charges are subject to change, without prior notice. Service tax @ 14% will be levied over and above the charge specified. General charges Pass book

More information

POLICY ON BANK DEPOSITS

POLICY ON BANK DEPOSITS POLICY ON BANK DEPOSITS 1. Preamble One of the important functions of the Bank is to accept deposits from the public for the purpose of lending. In fact, depositors are the major stakeholders of the Banking

More information

Cheque Collection Policy

Cheque Collection Policy Cheque Collection Policy Introduction The policy is based on principles of transparency and fairness in the treatment of customers. The Bank is committed to increased use of technology to provide quick

More information

CODE OF BANK S COMMITMENT TO CUSTOMERS

CODE OF BANK S COMMITMENT TO CUSTOMERS CODE OF BANK S COMMITMENT TO CUSTOMERS 1 TABLE OF CONTENTS SI No Contents Page No 1 Introduction 4 1.1 Objectives of the Code 4 1.2 Application of the Code 4 s2 Key Commitments 5 2.1 Our key commitments

More information

POLICY INOPERATIVE AND UNCLAIMED ACCOUNTS

POLICY INOPERATIVE AND UNCLAIMED ACCOUNTS POLICY ON INOPERATIVE AND UNCLAIMED ACCOUNTS Strategy & Business Development Division Table of contents. 1. Introduction 2. Purpose of Classification 3. Definition of Inoperative Accounts 4. Definition

More information

Mizuho Bank, Ltd. India. Deposit Policy. Revised on May 27, 2015

Mizuho Bank, Ltd. India. Deposit Policy. Revised on May 27, 2015 Mizuho Bank, Ltd. India Deposit Policy Revised on May 27, 2015 DISCLAIMER This Policy has been prepared on the basis of existing regulatory/statutory guidelines, existing risk management policies in the

More information

CLAIM SETTLEMENT (Deceased Depositor Claim Cases) SAVINGS BANK ACCOUNTS

CLAIM SETTLEMENT (Deceased Depositor Claim Cases) SAVINGS BANK ACCOUNTS CLAIM SETTLEMENT (Deceased Depositor Claim Cases) SAVINGS BANK ACCOUNTS When the depositor dies, the proceeds can be paid to the Nominee or legal heir, following the procedure for deceased depositor s

More information

TERMS AND CONDITIONS FOR THE ICICI BANK INDIAN RUPEE TRAVEL CARD

TERMS AND CONDITIONS FOR THE ICICI BANK INDIAN RUPEE TRAVEL CARD TERMS AND CONDITIONS FOR THE ICICI BANK INDIAN RUPEE TRAVEL CARD The following terms and conditions ( Terms and Conditions ) apply to the ICICI Bank Travel Card facility provided by ICICI Bank. For your

More information

Deposit Policy. The deposit products can be categorised broadly into the following types. Definitions of major deposits schemes are as under: -

Deposit Policy. The deposit products can be categorised broadly into the following types. Definitions of major deposits schemes are as under: - 1 Deposit Policy Preamble One of the important functions of the Bank is to accept deposits from the public for the purpose of lending. In fact, depositors are the major stakeholders of the Banking System.

More information

IMPORTANT TERMS AND CONDITIONS To get the complete version, please visit www.hsbc.co.in 1. FEES AND CHARGES a) Annual Membership fees Annual

IMPORTANT TERMS AND CONDITIONS To get the complete version, please visit www.hsbc.co.in 1. FEES AND CHARGES a) Annual Membership fees Annual IMPORTANT TERMS AND CONDITIONS To get the complete version, please visit www.hsbc.co.in 1. FEES AND CHARGES a) Annual Membership fees Annual Membership fees are applicable on the primary and add-on credit

More information

Account Type Current Saving Fixed Others (Specify) Constitution: Private Ltd. Co. Public Ltd. Co. NGO Others(Specify)

Account Type Current Saving Fixed Others (Specify) Constitution: Private Ltd. Co. Public Ltd. Co. NGO Others(Specify) NEPAL SBI BANK LIMITED...Branch ACCOUNT NUMBER Account Type Current Saving Fixed Others (Specify) Constitution: Private Ltd. Co. Public Ltd. Co. NGO Others(Specify) Currency NPR USD EURO Others ((Specify)

More information

STATE BANK OF INDIA REG DD TRUTH CHICAGO IN SAVINGS BRANCH DISCLOSURE SAVINGS ACCOUNT

STATE BANK OF INDIA REG DD TRUTH CHICAGO IN SAVINGS BRANCH DISCLOSURE SAVINGS ACCOUNT STATE BANK OF INDIA REG DD TRUTH CHICAGO IN SAVINGS BRANCH DISCLOSURE SAVINGS ACCOUNT Interest Rate Information: See Interest rate sheet provided as part of this disclosure. The interest rate and annual

More information

INDIVIDUAL CLIENT AGREEMENT AGILITY FOREX LTD INDIVIDUAL CLIENT AGREEMENT

INDIVIDUAL CLIENT AGREEMENT AGILITY FOREX LTD INDIVIDUAL CLIENT AGREEMENT INDIVIDUAL CLIENT AGREEMENT INDIVIDUAL CLIENT AGREEMENT The following terms and conditions apply to individuals who are transacting: for their own account, as a sole proprietor of a business, as a trustee

More information

ZAO CITIBANK CREDIT CARD TERMS AND CONDITIONS FOR CONSUMERS EXPLANATORY NOTICE FOR A PERSON INSURED UNDER CITI INSURANCE OF A CREDIT CARDHOLDER

ZAO CITIBANK CREDIT CARD TERMS AND CONDITIONS FOR CONSUMERS EXPLANATORY NOTICE FOR A PERSON INSURED UNDER CITI INSURANCE OF A CREDIT CARDHOLDER ZAO CITIBANK CREDIT CARD TERMS AND CONDITIONS FOR CONSUMERS PRIVACY FOR CONSUMERS AT ZAO CITIBANK EXPLANATORY NOTICE FOR A PERSON INSURED UNDER CITI INSURANCE OF A CREDIT CARDHOLDER ZAO CITIBANK CREDIT

More information

and Conditions Business Telephone Banking

and Conditions Business Telephone Banking Terms and Conditions Business Telephone Banking Effective as at 18 April 2015 Contents Introduction 3 Your Bank 3 Our obligation to you 3 Features 4 Description 4 Bank Undertaking Security Deposit Accounts

More information

How To Pay Off A Personal Loan From Hsbc

How To Pay Off A Personal Loan From Hsbc Most Important Terms and Conditions for Personal Loan Key things you should know The maximum loan amount that can be availed of under this offer is `15 lakh. Select customers may be eligible for loans

More information

CHAPTER 13 COMPLIANCE

CHAPTER 13 COMPLIANCE CHAPTER 13 COMPLIANCE By a Trading Member / Clearing Member 13.1 Annual Accounts and Audit 13.1.1 Every trading member / clearing member shall prepare annual accounts for each financial year ending on

More information

Most Important Terms & Conditions (Approved by the RMC at its meeting held on 9 th. J une 2015)

Most Important Terms & Conditions (Approved by the RMC at its meeting held on 9 th. J une 2015) INDIABULLS HOUSING FINANCE LIMITED Most Important Terms & Conditions (Approved by the RMC at its meeting held on 9 th. J une 2015) Indiabulls MITC elaborates the terms and conditions with respect to the

More information

POLICY ON BANK DEPOSITS (2014)

POLICY ON BANK DEPOSITS (2014) 1 POLICY ON BANK DEPOSITS (2014) PREAMBLE One of the important functions of the Bank is to accept deposits from the public for the purpose of lending. In fact, depositors are the major stakeholders of

More information

RATLOU LOCAL MUNICIPALITY

RATLOU LOCAL MUNICIPALITY RATLOU LOCAL MUNICIPALITY CREDIT CONTROL AND DEBT COLLECTION POLICY Original Council Approval Date of Council Approval Resolution Number Effective Date Amended CONTENTS CREDIT CONTROL AND DEBT COLLECTION

More information

Cheque Return Policy

Cheque Return Policy Cheque Return Policy The main objective of Cheque Return Policy is to identify the situations under which an instrument presented by the presenting bank, in either CTS or MICR clearing, is returned. An

More information

CREDIT CARD CARDHOLDER AGREEMENT

CREDIT CARD CARDHOLDER AGREEMENT CREDIT CARD CARDHOLDER AGREEMENT (This Agreement applies to Visa Platinum, Visa Gold, Visa Classic or other cards issued by HSBC) IMPORTANT! Before you use your Card, please read this Agreement carefully.

More information

HSBC Renminbi Business Credit Card Programme Agreement

HSBC Renminbi Business Credit Card Programme Agreement HSBC Renminbi Business Credit Card Programme Agreement The following terms and conditions govern (a) the use by a Cardholder of a Business Card being an HSBC Renminbi Business Credit Card (a Card ) issued

More information

How To Pay A Customer In European Currency (European)

How To Pay A Customer In European Currency (European) International Money Transfer Service Terms and Conditions Article 1 (Scope of Application) The International Money Transfer Service offered by Seven Bank (hereinafter referred to as the Bank ) shall be

More information

IDBI BANK DEPOSIT POLICY

IDBI BANK DEPOSIT POLICY IDBI BANK DEPOSIT POLICY Page 1. Preamble 1 2. Types of Deposit Account 2 3. Account Opening and Operations of Deposit Accounts 3 3.1 Account Opening 3 3.2 Operations of Deposit Accounts 5 3.3 Mandate

More information

online@anz Trade Services Open Account Payment Product Terms Version: March 2009

online@anz Trade Services Open Account Payment Product Terms Version: March 2009 Version: March 2009 1. Recommendation ANZ recommends that the Customer before using the Service: (a) reads these Product Terms and all other relevant product disclosure material that is provided to the

More information

IMPORTANT TERMS AND CONDITIONS To get the complete version, please visit www.hsbc.co.in

IMPORTANT TERMS AND CONDITIONS To get the complete version, please visit www.hsbc.co.in IMPORTANT TERMS AND CONDITIONS To get the complete version, please visit www.hsbc.co.in 1. FEES AND CHARGES a) Annual membership fees The HSBC Advance Platinum Credit Card is offered based on an HSBC Advance

More information

SCHEDULE OF CHARGES & FEES

SCHEDULE OF CHARGES & FEES Twelfth Edition Effective 29th August 2014 Dear Customer, We are pleased to detail herewith our standard Schedule of Charges & Fees, which is applicable for transactions carried out by Bank of Maldives

More information

STATE BANK OF MYSORE P&SB DEPT::HEAD OFFICE COMMON AREAS OF CUSTOMER BANKER RELATIONSHIP. KNOW YOUR CUSTOMER (KYC NORMS) - General guidelines

STATE BANK OF MYSORE P&SB DEPT::HEAD OFFICE COMMON AREAS OF CUSTOMER BANKER RELATIONSHIP. KNOW YOUR CUSTOMER (KYC NORMS) - General guidelines COMMON AREAS OF CUSTOMER BANKER RELATIONSHIP KNOW YOUR CUSTOMER (KYC NORMS) - General guidelines In order to protect the prospective customer/s, members of the public and ourselves against fraud and other

More information

Terms and Conditions of SABB Credit Cards

Terms and Conditions of SABB Credit Cards Terms and Conditions of SABB Credit Cards Important: Before you use The Saudi British Bank MasterCard and/or Visa Card ( the Card ), please carefully read the Cardholder Agreement printed below. By using

More information

Code of Bank s Commitment to Customers. January 2014 STATE BANK OF INDIA. www.sbi.co.in

Code of Bank s Commitment to Customers. January 2014 STATE BANK OF INDIA. www.sbi.co.in Code of Bank s Commitment to Customers January 2014 STATE BANK OF INDIA www.sbi.co.in T his is a Code of Customer Rights, which sets minimum standards of banking practices member banks have to follow while

More information

Our standard terms and conditions for Your Advanced Personal Loan.

Our standard terms and conditions for Your Advanced Personal Loan. Our standard terms and conditions for Your Advanced Personal Loan. For loans approved on or after 6 June 2015 6 June 2015 Important Information The information set out below forms part of your disclosure

More information

APPLICATION TO OPEN AN ACCOUNT COMPANY / NGO / EMBASSY / GOVERNMENT / REGISTERED ASSOCIATION

APPLICATION TO OPEN AN ACCOUNT COMPANY / NGO / EMBASSY / GOVERNMENT / REGISTERED ASSOCIATION APPLICATION TO OPEN AN ACCOUNT COMPANY / NGO / EMBASSY / GOVERNMENT / REGISTERED ASSOCIATION To: Ecobank (Indicate country name) For bank use only Account Nº: Please read carefully and complete all relevant

More information

Service Charges (applicable wef April 1 2015) 1 Minimum monthlyaverage balance requirement and monthly maintenance charges in SB accounts

Service Charges (applicable wef April 1 2015) 1 Minimum monthlyaverage balance requirement and monthly maintenance charges in SB accounts Service Charges (applicable wef April 1 2015) 1 Minimum monthlyaverage balance requirement and monthly maintenance charges in SB accounts 1.1 Where a debit card has been issued (other than CUB-card) to

More information

Managed Fund Service. Terms and Conditions

Managed Fund Service. Terms and Conditions Managed Fund Service Terms and Conditions Important Information These are the Terms and Conditions for your Balkerne Asset Management Managed Fund Service. You are advised to read them carefully. The terms

More information

Personal Line Of Credit terms and conditions

Personal Line Of Credit terms and conditions Personal Line Of Credit terms and conditions 1. Introduction 1.1 Definitions Unless otherwise indicated, the words: Account means the line of credit account that you have been approved for by ATB as set

More information

Sumitomo Mitsui Banking Corporation Deposit Policy. Version: 04

Sumitomo Mitsui Banking Corporation Deposit Policy. Version: 04 Sumitomo Mitsui Banking Corporation Deposit Policy Version: 04 Table of Contents Table of Contents 1. Introduction... 1 2. Types of Deposit Accounts... 2 3. Deposits... 3 4. Account opening and operation

More information

Premium Savings Account (CBS branches only) - High earnings with easy liquidity

Premium Savings Account (CBS branches only) - High earnings with easy liquidity Corporate Office : Gandhinagar : Bangalore 560 009 ------------------------------------------------------------------------------------------------------------ OUR DEPOSIT SCHEMES Savings Deposit Account

More information

APPLICATION TO OPEN AN ACCOUNT COMPANY / NGO / EMBASSY / GOVERNMENT / REGISTERED ASSOCIATION

APPLICATION TO OPEN AN ACCOUNT COMPANY / NGO / EMBASSY / GOVERNMENT / REGISTERED ASSOCIATION APPLICATION TO OPEN AN ACCOUNT COMPANY / NGO / EMBASSY / GOVERNMENT / REGISTERED ASSOCIATION To: Ecobank (Indicate country name) For bank use only Account Nº: Please read carefully and complete all relevant

More information

ANNEXURE. List of accounts and applicability of service tax

ANNEXURE. List of accounts and applicability of service tax ANNEXURE List of accounts and applicability of service tax 1 Description Likely to be taxed PLB 1. Unclaimed account service charges (system generated) 2. Unclaimed closed accounts cashier order return

More information

T s And C s. General terms. It s Ours. Effective April 2015

T s And C s. General terms. It s Ours. Effective April 2015 T s And C s. General terms and Effective conditions April 2012 Effective April 2015 It s Ours. a What s Inside Here. General provisions 1 1. What are these terms about? 1 2. When can our terms and product

More information

POLICY ON BANK DEPOSITS

POLICY ON BANK DEPOSITS POLICY ON BANK DEPOSITS PREAMBLE One of the important functions of the Bank is to accept deposits from the public for the purpose of lending. In fact, depositors are the major stakeholders of the Banking

More information

TERMS AND CONDITIONS FOR VARIOUS SERVICES OFFERED BY THE BANK

TERMS AND CONDITIONS FOR VARIOUS SERVICES OFFERED BY THE BANK TERMS AND CONDITIONS FOR VARIOUS SERVICES OFFERED BY THE BANK RTGS/NEFT TRANSACTIONS The applications for RTGS/ NEFT Payment Services shall be subject to the following terms and conditions: RTGS means

More information

Go Home Loan. Terms and Conditions HOME LOANS. Effective June 2014 THE FINE PRINT

Go Home Loan. Terms and Conditions HOME LOANS. Effective June 2014 THE FINE PRINT Go Home Loan Terms and Conditions Effective June 2014 THE FINE PRINT HOME LOANS CONTENTS PURPOSE OF THESE TERMS AND CONDITIONS 1 The purpose of these Terms and Conditions 4 Status of these Terms and Conditions

More information

3.6. Please also note, unless your policy confirms otherwise, the rights under your policy may only be pursued in an English court.

3.6. Please also note, unless your policy confirms otherwise, the rights under your policy may only be pursued in an English court. Terms of business agreement - commercial customers M & N Insurance Service Limited Authorised and regulated by the Financial Conduct Authority No: 305837. Registered Office: 248 Hendon Way London NW4 3NL

More information

BANKING QUESTION AND ANSWERS- PART-1

BANKING QUESTION AND ANSWERS- PART-1 BANKING QUESTION AND ANSWERS- PART-1 1. Which of the following statements is true? (1) Banks cannot accept demand and time deposits from public (2) Banks can accept only demand deposits from public (3)

More information

HiSAVE Fixed Rate Account

HiSAVE Fixed Rate Account UK PLC An FSA regulated UK Bank HiSAVE Fixed Rate Account These terms and conditions apply to the HiSAVE Fixed Rate Account (hereinafter referred to as the "HiSAVE Fixed Rate Account"). They, together

More information

Terms & Conditions Deposit Accounts

Terms & Conditions Deposit Accounts Terms & Conditions Deposit Accounts Effective Date 6 October 2014 Contents Terms and Conditions 5 Definitions 5 Application of these Terms and Conditions 6 Specific Terms and Conditions Personal Savings

More information

Citizen Charter CONTENTS

Citizen Charter CONTENTS Citizen Charter CONTENTS Sr. No. Subject Page No. 1 Common practices followed by our branches 3 2 Fair banking practices 3 3 Common areas of customer-banker relationship 4 Saving Account 4 Current Account

More information

Revised Policies and Procedures

Revised Policies and Procedures Revised Policies and Procedures a. Refusal of Orders for penny stocks: Penny stocks are low-priced shares of small companies which are traded infrequently. It may be difficult to sell penny stocks once

More information

Residential Loan Agreement. General Terms and Conditions

Residential Loan Agreement. General Terms and Conditions Residential Loan Agreement General Terms and Conditions Effective Date: 1 July 2014 IMPORTANT NOTE This document does not contain all the terms of your loan agreement or all of the information we are required

More information

To Customers. January 2014

To Customers. January 2014 Code of Bank s Commitment To Customers January 2014 Planning and Development Department, Corporate Office, Bangalore Email coplan@syndicatebank.co.in www.syndicatebank.in This is a Code of Customer Rights,

More information