Terms and conditions for NMB Debit Card
Terms and conditions stated hereunder relate to the usage of the NMB Debit Card by the Cardholder on his/her designated account number(s).
1. The abbreviations used in these terms and conditions shall be constructed as
- "Card" means NMB Debit Card.
- "Bank" means NMB Bank Ltd.
- "Cardholder" means who is availing Debit Card facility.
- "ATM" means Automated Teller Machine.
- "Supplementary Card" means Card issued to the Supplementary Applicant.
- "Merchant" means shops/outlets that are authorized to accept Cards as a mode of payment.
- "POS" means Point of Sale Terminals at Merchant outlets, where the Cardholder swipes the Cards, which are authorized to accept Cards as payment mode.
- "Card Statement" means statement-containing details of the Card usages
- "PIN" means Personal Identification Number, specific to each Cardholder
- "Designated Account" means the account of the Cardholder approved by the Bank to be accessed by the card and PIN.
- Closure of designated account
- Death of a Cardholder
- The Bank cancelling the card for whatsoever reasons
2. The Card shall remain a property of the Bank at all times.
3. The Card is non-transferable.
4. The Bank reserves the rights to seize/cancel the Card so issued to any Cardholder, if found at any date, the information submitted by such Cardholder is false and or the Card has been misused.
5. The Bank shall debit the Account(s) designated by the Cardholder for all transactions initiated including cash withdrawals by using the Card. For this purpose, the Cardholder irrevocably authorizes the Bank to debit his/her Nominated Account(s) with the amount of transaction(s) effected through the use of the Card.
6. The Bank shall debit the Nominated Account(s) for all fees and charges as determined by the Bank relating to the Card and the services thereby provided.
7. In case of Joint Nominated Account(s), all the members shall be jointly and severally responsible for all transactions performed on such Card.
8. The Bank reserves the right to terminate membership, withdraw the privileges attached to the Card or not renew the expired Card at any time and to call upon the Cardholder to surrender the Card
9. Use of the Card after notice of withdrawal of the privileges or the termination of the membership is fraudulent and may be subject to legal action by the Bank in accordance with the prevailing law.
10. The Card shall cease to be valid and the Bank shall be entitled to the immediate return of the card in the event of:
11. Upon termination of membership or withdrawal of privileges of the Card for any reason whatsoever, the Card shall be returned to the Card Centre within 7 days from the date of receipt of notice. The Cardholder shall be liable for payment of the bills arising out of use of the Card till Card is not surrendered to the Bank.
12. The Cardholder shall provide written instructions to the Bank for the cancellation or non-renewal of the Card one month prior to the expiry date specified in the Card
13. The Card and PIN issued to the Cardholder are entirely at the Cardholder's risk and responsibility. The Cardholder shall not disclose the PIN or permit possession of the Card to any other person. The Cardholder undertakes full responsibility for any and all transactions made by the use of the Card whether or not made with his/her knowledge or authority.
14. The Cardholder agrees to inform the Bank in writing regarding lost/stolen. damage of Card and disclosure of PIN. The Cardholder will be held liable for all the transactions received prior to this notification.
15. The Bank reserves the right to limit daily cash withdrawal by the Cardholder and decide on denomination that would be dispensed from Bank's own ATM.
16. The Bank shall not be responsible in any way for non-availability of ATM services or POS terminals at Merchant outlets for any reason whatsoever and howsoever arising as a result of malfunctioning of the Card or ATM or POS, insufficiency of funds in such machines. mechanical or power supply failure or otherwise.
17. The Cardholder undertakes to indemnify the Bank and to keep the Bank indemnified against all losses, damages, cost or expenses incurred and sustained by the Bank arising out of Cardholder's failure to observe any of the terms and conditions herein mentioned.
18. The Bank reserves the right to amend these terms and conditions at any time without prior notice to the Cardholder and such amended terms and conditions shall be binding on the Cardholder.
