ISIC Student ForexPlus Card Terms And Conditions

ISIC Student ForexPlus Card Terms And Conditions

Fees & Charges applicable:

Please refer to the below table for the fees and charges applicable on respective HDFC Bank Forex Card:

Sr. No.

Fees & Charges

Multicurrency ForexPlus Card

Regalia ForexPlus Card

ISIC Student ForexPlus Card

1

Issuance Fee

Rs. 500 + gst

Rs. 1000 + gst

Rs. 300 + gst

2

Reload Fee

Rs. 75 + gst

Rs. 75 + gst

Rs. 75 + gst

3

ATM Withdrawal Fee

$2 or equivalent

$2 or equivalent

$2 or equivalent

4

Balance Enquiry Fee

$0.5 or equivalent

$0.5 or equivalent

$0.5 or equivalent

5

Cross Currency Markup Charges*

2%

0%

3%

6

Back-up Card Charges

Rs. 100 + gst

Rs. 100 + gst

Service Not available

7

Card Replacement Charges

Rs. 100 + gst

Rs. 100 + gst

Service Not available


*Cross Currency Markup Charges

  • For transactions where the transaction currency is different than the currency available on Forex card bank will charge cross currency markup on such transactions as applicable.
  • Exchange rate used will be the VISA/MasterCard wholesale exchange rate prevailing at the time of the transaction. Exchange rate used will be the Mid-rate prevailing at the time of the transaction.
  • For cross currency transactions involving wallet to wallet transfers within currencies available on the Forex card, customer will be charged cross currency mark up as applicable.

GST will be applicable on Currency Conversion & other fees as per prevailing rate.

Applicable GST on Currency Conversion, TCS and other taxes will be debited from your account on the next working day from the date of request.


Limits on HDFC Bank Forex Card:

Daily Limit for ATM Cash Withdrawal

USD 5,000 or equivalent in any other currency

Daily reload limit through online channels

USD 5,000 or equivalent in any other currency

Annual reload limit through online channels

USD 25,000 or equivalent in any other currency

Annual total Load and reload limit as per Liberated Remittance Scheme*

Maximum USD $250,000 or equivalent in any other currency in a financial year


*Liberalised Remittance Scheme (LRS), is a facility where all resident individuals (as defined under FEMA 1999), including minors, are allowed to freely remit up to USD 250,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both.


Maximum value of the Forex that can be loaded/reloaded  on the card will be in line with the limits specified under the Liberalised Remittance Scheme (LRS) published by RBI.
Your request will be rejected and reversed  back to your account in following scenarios.
- If it is observed that amount of Foreign currency request placed by you is not in line with LRS guidelines and the LRS limit utilization has crossed the prescribed limit.
- If your purpose of travel does not match the purpose for which the Forex card has been issued.



Currency Conversion Tax:

Currency Conversion Tax is applicable all load, reload and refund transactions done on HDFC Bank Forex Card.


Buy and sell forex currency

Service tax amount

Up to Rs 1 lakh

0.18% of the gross value or Rs45—whichever is higher

Rs 1 lakh – Rs 10 lakhs

Rs 180 + 0.09% of the amount exceeding Rs. 1 lakh

> Rs. 10 lakhs

Rs. 990 + 0.018% of the amount exceeding Rs. 10 lakhs



Tax Collected at Source (TCS) is applicable under the provision of Financial Act, 2020. To know more Click Here


Important Note:

Delivery of Forex Card






HDFC Bank Forex Card shall be issued basis the request placed by you. We shall not deliver/courier forex card at overseas locations nor at locations where we do not have the logistic facility to deliver. In such scenarios, the request will not be processed, and the funds will be reversed back to your account.

In case you select Home Delivery option during your application, our channel partner executive “Ebix Cash” shall call you to fix an appointment towards the collection of the applicable KYC documents and delivering of the Forex Card. Request you to please keep the applicable self-attested copies ready of all documents and Originals ready for conducting KYC Verification and OSV (Original seen & verified). The forex card will be delivered to you in inactive status and once we receive delivery confirmation and successful KYC verification, the card will be activated.

Eligibility 


Forex Card can only be issued to customers over 12 years of age.

The name of the funding account holder and the Forex Card applicant should be the same. In case of name mismatch, the load/reload request will be rejected, and the funds will be reversed back to your account in 2 working days.

Existing card

In case you already hold an existing HDFC Bank Forex card, the earlier issued card will be closed, and the balance will be transferred to the new forex card issued against new request. If the currency in the existing card currency wallet in not available in the new forex card issued, cross currency conversion, currency conversion taxes and GST will be applicable on the balance transfer to new forex card. The same will be calculated as per prevailing exchange rate and applicable charges.

Alerts

I agree that all instructions and alerts relating to my forex card will be issued to the Bank as per acceptable mode of communication to the Bank on the registered mobile number, email ID and address provided in the application form or as updated per my request. I agree that the Bank will send me communications/letters etc. through courier/messenger/mail/SMS or through any other mode at its discretion and the Bank shall not be liable for any delay arising there from.

Intelligence to utilize funds across currency wallets

In case of shortage of funds in the selected currency, the system checks for available funds in any other currency to process the transaction.

If none of the currencies have sufficient balances to process the transaction, then the transaction will be declined even if there are sufficient funds available collectively across all currencies.



Card Variant-wise Card Details:

Sr. No.

Features

Multicurrency ForexPlus Card

Regalia ForexPlus Card

ISIC Student ForexPlus Card

1

Chip & Contactless - Tap & Pay/Swipe/PIN

Y

Y

Only Chip

2

Card Type

Multi-currency Card

Single Currency Card

Single Currency Card

2

Number of currencies

22 currency wallet available in one card

1

3 single currency cards available

3

Currency

USD, EUR, GBP, CHF, CAD, AUD, JPY, SGD, AED, SEK, HKD, THB, ZAR, NZD. OMR, DKK, NOK, SAR, KRW, BHD, QAR, KWD

USD (Can be converted in any other Currencies mentioned for MCY card)

USD, EUR, GBP

4

Cross Currency Markup

Transaction currency is different than the currency available on the card, the cross-currency charge is markup of 2%

0%

3%

5

Zero Cross Currency Markup

Y

Y

Y

6

Expiry

5 years from the date of card indent

5 years from the date of card indent

2 years from the date of card indent


Terms and Conditions for HDFC Bank Forex Card

Definitions

In this document the following words and phrases have the meaning set opposite them unless the context indicates otherwise:


1. 'Bank' refers to HDFC Bank Limited, a banking company incorporated in India under the Companies Act, 1956 and having its Registered Office at HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013, India and includes its successors and assigns.

2. 'Card' refers to HDFC Bank Forex Card, issued to the customer by HDFC Bank.

3. 'Cardholder' refers to a customer of the Bank authorised to use the card.

4. 'EDC Terminal' shall mean Point-of-Sale electronic data capture capable of handling card transactions i.e., Electronic Draft Capture (EDC) terminal, printers, other peripherals and accessories, including ATM PIN (defined hereunder), pads and necessary software to run the devices and which processes the transaction at the Merchant Establishments abroad (except India, Nepal and Bhutan).

5. 'International Transactions' refer to the transactions entered into by the Cardholder on his card outside India, Nepal and Bhutan.

6. 'Merchant' means any entity that owns or manages or operates Merchant Establishment.

7. 'Merchant Establishments' shall mean establishments or facility, wherever located or registered, which honours the Card.

8. 'Terms' refer to Terms and Conditions for use of the card as specified in this document.

9. 'Transactions' mean any instruction given by a Cardholder using a card directly or indirectly to the Bank to effect a transaction.

10. In the document, all references to the Cardholder being referred in masculine gender will also include the feminine/transgender gender.

11. Transaction: Transaction includes cash withdrawals, payment for purchases made/services availed at Merchant Establishments, availing other services by utilising the card at ATMs and/or Merchant Establishments.

12. Personal Identification Number (PIN): The Bank will allot to the Cardholder a PIN to be used for cash withdrawals and balance enquiry at ATMs. The Cardholder shall be entitled, using the NetBanking facilities, in accordance with the provisions herein, to change the ATM PIN. The Cardholder shall be responsible to maintain the confidentiality of the ATM PIN/IPIN. The Bank bears no liability for unauthorized use of the card.


Eligibility, Manner of Applying / Obtaining & Conditions of Issue of the Card

13. Any Indian National may apply for the issuance of the Card through any branch, online digital channels, representative of the Bank or select money changers in India as determined by the bank, from time to time.

14. The applicant for the Card will be required to complete and submit a duly signed application form as required by the Bank and further submit all such documents as may be necessary or required by the Bank.

15. The Card, as may be issued by the Bank to an applicant, shall remain the property of the Bank and shall not be transferable and will be honoured at Merchant Establishments only when the Card bears the signature of the Cardholder on the reverse and upon presentment at a Merchant Establishment by the Cardholder.

16. The issuance of the Card is subject to compliance by the card applicant of the provisions of applicable laws (including Foreign Exchange Management Act, 1999), rules, regulations and directions as issued by the Reserve Bank of India or other authority under any law in force from time to time.


Applicability of Rules and Regulations

17. The issuance and use of the Card is subject to compliance by the Cardholder of the provisions of applicable laws (including the Foreign Exchange Management Act, 1999),rules, regulations and directions as issued by the Reserve Bank of India or other appropriate authority under any law in force from time to time.

18. Utilization of the card shall be in strict accordance with the exchange control Regulations of the RBI. In the event of non-compliance by Cardholder with same, the Bank shall be entitled, either at its discretion, or at the instance of the RBI to debar the Cardholder from holding the card, and cancel and withdraw the card, and the Cardholder shall also be liable for action under the Foreign Exchange Management Act,1999 and any other Law and/or regulation in force from time to time, relating to the regulation of foreign exchange.

19. The card cannot be used for making payment towards foreign currency transactions in India, Nepal and Bhutan i.e., while using the card in Nepal and Bhutan, the currency of the transactions should be the local currency of those countries or in Indian Rupees. In case the card is cancelled, whether on account of non-compliance with Exchange Control Regulation or otherwise, the Bank will not be responsible for any attempted usage of the card, whether in India or abroad, resulting in the card being dishonoured and the concerned Merchant would be entitled to pick up a cancelled card on presentation.

20. The card may be used within the foreign entitlements as stipulated by RBI from time to time, by Cardholders going abroad for all bonafide personal expenses provided, the total exchange drawn during the trip abroad does not exceed the entitlement. Import of goods so purchased abroad into India, would be governed by the baggage rules/EXIM policy in force at the relevant time. The entitlement of exchange should be ascertained (prior to the trip) from the authorised dealer branches of the Bank. The card cannot be used for effecting remittances, for which the release of exchange is not permissible under the extant regulations. Bank does not permit any payments /transactions using the card on Merchants registered in India, Nepal and Bhutan.

21. The Cardholder shall be solely responsible to the concerned authorities in event of any violation of the applicable laws, rules and regulations in force from time to time. The Bank will not be liable for any direct, indirect or consequential loss or damage, arising from or related to the non-compliance by Cardholder with the applicable laws, rules and regulations in force from time to time.

22. The Cardholder hereby indemnifies and agrees to hold the Bank indemnified against all actions, claims and costs, charges and expenses arising out of or as a consequence of the Cardholder not complying with the applicable laws, rules and regulations in force from time to time.

23. In case the Card is cancelled (or its use suspended, whether on account of noncompliance with the applicable laws, rules and regulations in force from time to time or otherwise) the Bank will not be responsible for any use/attempted use of the Card, resulting in the Card being dishonoured or otherwise. The risk of dishonouring of a Card that is cancelled (and/or suspended) on its presentment is of such person and/or of the Cardholder in their individual capacity.


Validity

24. The card is valid outside India, Nepal and Bhutan. The card is not valid for payments in foreign currency in India, Nepal and Bhutan. The Card however shall not be valid for payments to Merchants registered in India, Nepal and Bhutan.

25. The card is valid up to the last day of the month in the year of expiry of the card, which is indicated on the card. Upon expiry of the Card, the Cardholder shall destroy the card by cutting it in half diagonally through the magnetic strip and chip.

26. The card is acceptable at any ATM of banks which are members of Network Partner’s (VISA/MasterCard/Diners), ATM network abroad and any Merchant Establishment outlet abroad.

27. The acceptance of the card is guided by Network Partner’s (VISA/MasterCard/Diners) and information about the same is available on its website. Cardholders are expected to check the acceptance of the HDFC Bank Forex Card in the Countries/Cities where they wish to use the Card. The Bank is not responsible for acceptance/non-acceptance of the HDFC Bank Forex Card at a merchant establishment or an ATM in any country.

28. Use of the Card at any unauthorised location or for any purpose, other than as stated under these Terms and Conditions is strictly prohibited and may result in consequences, including but not limited to cancellation of the Card by the Bank.


Currency of the Card

29. HDFC Bank Forex Card will carry the currency wallets in the card as prescribed in the features. However, the bank reserves the right, at its sole discretion, to increase or decrease the number of currencies available, without issuing any prior notice.

30. The Cardholder, or any other person duly authorised, shall have the option, to load value on the Card.

31. The Card may be loaded and/or reloaded with foreign exchange during its validity period by the Cardholder, or any other person duly authorised, giving a load instruction in the format as required by the Bank from time to time.

32. Instructions once given shall be final and binding on the Cardholder and the Cardholder shall not be entitled to cancel or modify the same without the consent of the Bank. Without prejudice to the above, any loss arising out of any cancellation or modification of instructions shall be borne by the Cardholder.


Prepaid NetBanking facility

33. At the time of issue of the Card, the Cardholder shall also be issued with the IPIN through which the Cardholder shall be entitled to access the NetBanking services offered (“NetBanking”) in relation to the Card in all its future transactions.

34. Through the NetBanking service, the Cardholder shall also be entitled to customize ATM PIN that will be required for the Cardholder to access an ATM of banks, which are members of the network partner.

35. It is clarified the Cardholder shall be solely responsible for the modification and safekeeping of the ATM PIN/IPIN.

36. The Cardholder understands that any electronic facilities that are being provided are solely for the convenience of the Cardholder. The Cardholder agrees and acknowledges that communication through such electronic modes is subject to interference or modification by result of unauthorised access by third parties and/or loss or modification of communication due to errors in transmission. It is clarified that the Bank shall be entitled to rely on any such communication duly received, and to act upon the same without being required or expected to carry out an independent verification as to the authenticity, validity or correctness of such communication.


Cardholder Obligations

37. The Cardholder shall always ensure that the card is kept at a safe place, and that the ATM PIN/IPIN issued by the Bank at the time of issue of the Card are kept secret. The Cardholder shall under no circumstance whatsoever allow the card to be used by any other individual. The Cardholder will sign on the reverse of the card immediately upon receipt.

38. Notwithstanding any security measures that may be implemented by the Bank in respect of the Card, the Bank shall not be responsible for any misuse of the Card by any third person, including by reason of the Cardholder disclosing the ATM PIN/ IPIN to such person.

39. Personal Identification Number (PIN): The Bank will allot to the Cardholder a PIN to be used for cash withdrawals and balance enquiry at ATMs. The Cardholder shall be entitled, using the NetBanking facilities, in accordance with the provisions herein, to change the ATM PIN. The Cardholder shall be responsible to maintain the confidentiality of the ATM PIN/IPIN. The Bank bears no liability for unauthorized use of the card.

40. The Cardholder will be responsible for all facilities granted by the Bank in respect of the card and for all related charges for use of the card.

41. In case, the Cardholder has any dispute in respect to any charge indicated in the Statement, the Cardholder shall advice details to the Bank within 30 days of the Statement Date, failing which, it will be construed that all charges are acceptable and in order. The Bank may not at its sole discretion accept any disputes on charges older than 30 days.

42. Any amount due and payable by the Cardholder and/or the Corporate/Enterprise to the Bank, if not paid separately, shall be recovered by the Bank from the balance available on the Forex card and/or debit the amounts due from any account held by the Cardholder with HDFC Bank.

43. The Card is not transferable or non-assignable to any other person by the Cardholder under any circumstances.

44. The Cardholder is not entitled to earn any interest in connection with his Funds and these funds do not constitute a deposit by the Cardholder with HDFC Bank. The Card does not entitle the Cardholder to any Overdraft / Credit Facility.

45. You undertake and agree not to use the Card for making payment for any illegal purchases i.e. purchase of items / services not permitted by the RBI as per Foreign Exchange Regulations.


Lost or Stolen Cards

46. The Cardholder should inform the Bank at the Bank’s Customer Care Centre immediately, if the Cardholder believes that the Card has been lost or stolen or misused.

47. If a card is lost or stolen or misused, the Cardholder must immediately hotlist the card either through the Prepaid Card NetBanking access provided or by calling the 24*7 Phone Banking numbers provided. In the event of any unauthorised transactions being made on the Card after such Card has been lost or stolen, the Cardholder should also file a report with the local police and send a copy forth with thereafter to the Bank. The Cardholder will be liable for all the charges incurred on the card until the card is hot-listed.

In case of an unsigned card, the Cardholder will be liable for all charges incurred on it. The Bank upon adequate verification will permanently suspend the card and will not be liable for any inconvenience caused to the Cardholder on this account. The Bank will hotlist/cancel the card immediately on the receipt of such intimation.

48. The Cardholder shall take cognizance of the fact that once a card is reported lost, stolen or damaged and is subsequently found, the same shall be promptly cut in half, returned to the Bank and adequate care taken to prevent its misuse.

49. The Cardholder is responsible for the security of the card and shall take all steps towards ensuring the safe keeping thereof. In the event, the Bank determines that the aforementioned steps are questionable, financial liability on the lost or stolen card would rest with the Cardholder.

50. Replacement card may be issued by the Bank, provided that the Cardholder has in all respects complied with the Terms and Conditions pertaining to the same.


ATM Usage

51. The card is operable with the help of a confidential ATM PIN at ATM locations. The ATM PIN should never be disclosed to any person or written down where any other person may discover it. Any such disclosure or inadequate protection of the confidentiality of the ATM PIN is entirely at the Cardholder's risk. All transactions conducted with use of the ATM PIN will be the Cardholder's responsibility and he will abide by the record of the transaction as generated.

52. The card is acceptable at any ATM part of network (VISA/MasterCard/Diners) belonging to institutions abroad. The Bank will not accept responsibility for any dealings the Cardholder may have with the other institutions including but not limited to such services. Should the Cardholder have any complaints concerning any Network partner’s establishment, the matter should be resolved by the Cardholder, and the establishment and failure to do so will not relieve him from any obligations to the Bank. However, the Cardholder should notify the Bank of this complaint immediately.

53. There will be separate service charges levied for facilities that will be announced by the Bank from time to time, and such charges may be deducted by the Bank from the balances available on the Card. In a situation where the Card does not have sufficient funds to deduct such service charges, the Bank reserves the right to deny such transactions and the decision of the Bank shall be binding on the Cardholder. The Bank shall not be liable for any consequences arising out of denial of transactions. The Bank shall have the right to set-off and lien, irrespective of any other lien or charge, present or future value of all balances held in the Card or in any Currency Wallet thereto, to the extent of all outstanding dues, whatsoever, arising as a result of the services extended by the Bank.

54. HDFC Bank will not be liable for any failure to provide any service or to perform any obligation thereof, under where such failure is attributable (whether directly or indirectly) to any malfunction of the ATM / POS machine or the Card temporarily, insufficiency of funds, any dispute or other circumstance beyond its control.

55. In case of debits in excess of funds held by the Cardholder, the Cardholder permits the Bank to debit his accounts(s) held with the Bank and / or reimburse the Bank funds towards such excess utilization subsequently on return, in case he does not have any operating account with the Bank.

56. Bank will not be liable for any consequential or indirect loss or damage arising from or related to the loss / issue of the Card and related PIN, howsoever caused.

57. The availability of ATM services in a country other than that in which the Card was issued is governed by the local regulations in force in the said country. Bank shall not be liable if these services are withdrawn without notice thereof.

58. Some ATM’s may charge an additional fee on withdrawals. This fee is over and above the ATM withdrawal fee charged by HDFC Bank. This fee may appear with different terminology depending on the overseas bank for e.g. ATM Access Fee, ATM Ownership Fee.

59. HDFC Bank is not responsible for any such fees and will not be able to refund the same in case they are levied on account of usage of the card.


Alerts

60. The Bank may elect to send alerts to the Cardholders in relation to the use/holding of the Card from time to time, using any modes as it may deem fit, including but not limited to E-mail and/or SMS modes. For the purpose of sending such alerts, the Bank shall be entitled to rely on any information provided by the Cardholder in the application form or in any writing thereafter. The Bank may modify or withdraw such alerts facility at any time as it may deem fit.

61. In the event there is any change in your Email ID and / or your mobile number, you need to get the same updated in bank records through Prepaid Card NetBanking or by giving a request in writing about such modification(s). HDFC Bank shall not be liable for any loss, damage or inconvenience caused to you in case you do not receive such alert(s) due to any technical reasons at your end or at the respective telecom operator end or for any reason not within the reasonable control of the Bank.


Merchant Location Usage

62. The card is acceptable at all electronic Merchant Establishments abroad which display the Network Partner’s (VISA/MasterCard/Diners) logo.

63. The card is meant for electronic use only and will be acceptable only at Merchant Establishments that have an EDC terminal, or are honouring the card for online payments through an acceptable payment gateway. The card is acceptable/operable with the help of the Cardholder's signature/ATM PIN at EDC terminals, installed at Merchant Establishments, or with the use of the Card on the relevant websites. Any usage of the card other than electronic use will be considered as unauthorised and the Cardholder will be solely responsible for such transactions. For the purposes of this Paragraph 43, “Electronic usage” shall be construed as transactions processed by the Merchant in online mode and where the charge slip/transaction slip is printed electronically from the EDC terminal, or payments made online through a payment gateway acceptable to the Bank.

64. Transactions are deemed authorised and completed once the EDC terminal generates sales slip. The amount of transaction is debited from the balances available on the Card immediately. The Cardholder should ensure that the Card is used only once at the Merchant Establishment for every purchase. The sales slip will be printed each time the card is used and the Cardholder should ensure that there is no multiple usage of the card at the Merchant Establishment at the time of each such use.

65. The Bank will not accept responsibility for any dealings the Cardholder may have with the Merchant Establishment including, but not limited to the supply of goods and services. Should the Cardholder have any complaints concerning any Merchant Establishment, the matter should be resolved by the Cardholder with the Merchant Establishment and failure to do so will not relieve him from any obligations to the Bank. However, the Cardholder should notify the Bank of this complaint immediately.

66. The Bank, accepts no responsibility for any surcharge levied by any Merchant Establishment or ATM service providing Bank / ATM Network and debited to the balance on the Card with the transaction amount.

67. The Cardholder must sign a sales slip whenever the card is used at a Merchant Establishment and should retain his copy. The Bank at an additional charge may furnish copies of the sales slip. Any sales slip not personally signed by the Cardholder, but which can be proved, as being authorised by the Cardholder, will be binding on the Cardholder.

68. Any charge or other payment requisition received from a Merchant Establishment by the Bank for payment shall be conclusive proof that the charge recorded, on such requisition, was properly incurred at the Merchant Establishment in the amount and by the Cardholder referred to in that charge or other requisition, as the case may be, by the use of the card except where the card has been lost, stolen or fraudulently misused, the burden of proof, for which shall be on the Cardholder.

69. In case, a merchant wishes to cancel a completed transaction due to an error or on account of merchandise return, the earlier sales receipt must be cancelled by the merchant and a copy of the cancelled receipt must be retained in his possession. Reveal/Refunds of debits due to such transaction will be processed manually and the cancelled sales slip needs to be produced, if called for.

70. All refunds and adjustments due to any merchant/device error or communication link will be processed manually and the amount will be credited to the Card after due verification and in accordance with Diners Club International rules and regulations as applicable, and in such currency as determined by the Bank. The Cardholder agrees that any debit received during this time will be honoured, only based on the available balance in the account(s) without considering this refund. The Cardholder also indemnifies the Bank from such acts of dishonouring the payment instructions.

71. The card is not to be used at the hotels during check-in (Pre-Authorization transactions) and also at other locations where paying arrangement is done before completion of the purchase transaction or service.

72. The card should not be used for any Mail Order/Phone Order/Over the Internet purchases and any such usage will be considered as unauthorised and the Cardholder will be solely responsible. Notwithstanding the responsibility of the Cardholder, the Bank shall be entitled to reject such transaction.

73. Quality of Goods and Services: The Bank shall not be in any way responsible for merchandise, warranty or services purchased or availed by the Cardholder from Merchant Establishments, including on account of delay in delivery, non-delivery, non-receipt of goods or receipt of defective goods from the order placed by the Cardholder. It must be distinctly understood that the card facility is purely a facility to the Cardholder to purchase goods or avail services and the Bank holds out no warranty or makes no representation about quality, delivery or otherwise howsoever regarding the goods or services, and any dispute must be resolved by Cardholder with the Merchant Establishment.

74. A purchase and a subsequent credit for cancellation of goods / services shall be treated as two separate transactions. The refund, if any, so entitled to you will only be credited to your account (less cancellation Charges) as and when it is received from the Merchant. If the credit is not posted to your Card account within 30 days from the day of refund, you must notify HDFC Bank, also with a copy of the credit note / void slip from the merchant or Authorization cancellation letter from the Merchant. i.e. a letter from the Merchant on the letterhead of the merchant stating the following details (Card Number, Transaction Date, Transaction Amount and Authorization Code that needs to be released and the letter should be duly signed by the merchant with the stamp). HDFC Bank accepts no responsibility and / or liability for any delay caused in this regard for any reason whatsoever.


Card Usage

75. The Bank will debit the balances on the Card, in the manner as provided here in above, for the value of all purchases of goods or services, cash, fees, charges and payments effected by the use of the Card ('Transaction'). All Transactions will be reflected in the Statement of the Card. Such statements shall be mailed to the Cardholder at the end of the month in which the card has been used for transaction, through physical statement sent to registered postal address or through e-mail sent to the registered email address of the cardholder. Further such statements for the last 6 months will also be made available to the Cardholder through the NetBanking facility.

a. The amount pertaining to a Transaction will be debited from the balance on the Card on the date of initiation of the Transaction (“Transaction Authorisation”) but shall reflect as “pending” in the Statement till the time the same is not claimed for settlement by the concerned merchant/acquiring bank, which period could extend up to 15 days from the date of initiation of the Transaction (“Transaction Settlement”). On the Transaction Settlement date, the earlier debit entry shall be reversed by way of a corresponding credit entry and a fresh debit entry for the said Transaction shall reflect in the Statement. The Transaction shall therefore reflect as “settled” on the Transaction Settlement date.

Provided further that amounts debited on the Card on the date of Transaction Authorisation and on the date of Transaction Settlement may differ due to fluctuation or change in the exchange rate for the currencies or due to any penalty or add-on charges levied by the merchant/acquiring bank or on account of any additional expense/charge not accounted for on the date of Transaction Authorisation. The amount debited on the date of Transaction Settlement shall be the final amount debited on the Card and the customer agrees to bear any loss/excess levy charged to the Card on the Transaction Settlement date.

76. The Cardholder agrees that the Bank's record of transactions relating to his card is authentic and conclusive.

77. The Cardholder is advised to retain a record of transactions generated by the ATM/EDC terminals at Merchant Establishments with him.

78. The Cardholder agrees and understands that there can be scenarios when a Forex card can get over-utilized, resulting in the Bank paying on behalf of the cardholder, and the card getting into a negative balance. The Cardholder agrees and understands and takes responsibility to make good this negative card balance to the bank, as the Bank has paid this sum for the goods/ services utilized by the Cardholder. The Cardholder also accepts that the bank reserves the right to regularize negative card balance by debiting my account held with the bank without any prior confirmation from the cardholder.

79. The Cardholder agrees not to attempt to withdraw/purchase using the card unless sufficient funds are available on the card. The onus of ensuring the adequate card balance shall entirely be on the cardholder.


Dynamic Currency Conversion (DCC) facility

80. DCC stands for Dynamic Currency Conversion whereas MCC stands for Multiple Currency Conversion.

81. DCC / MCC at ATM / POS gives the cardholder an option to initiate a transaction in the currency of his choice. It also assists the cardholder to know the exact transaction value in the currency selected at the time of transaction.

82. It is not advisable for a Forex cardholder to opt for DCC/MCC while using Forex card for making payments, since the transaction passes through cross currency conversion twice.

83. In case of first leg of conversion in DCC i.e. conversion from local currency to the currency of choice of the cardholder, exchange rate is decided by the merchant and communicated to cardholder at the time of transaction. The bank does not have any role in deciding the exchange rate.

84. In case of second leg of conversion in DCC i.e. conversion from the currency of choice of cardholder to the currency available on Forex card, conversion will also attract cross currency transaction charges which will get debited to the Cardholder.


Residents

85. The use of the card is allowed for the purposes as per the applicable foreign exchange control regulations.

86. As per RBI guidelines in case the amount on account of use of the card during visits abroad exceed the cardholder's foreign exchange entitlements, the Cardholder should provide documentary evidence for the usage of foreign exchange utilised. The Bank is authorised to report the matter to any relevant authorities, in this regard giving full details.

87. As per applicable laws, for every foreign currency transaction the Cardholder should submit a duly completed and signed A2 form and have his passport endorsed for the foreign currency utilised.

88. In case the Cardholder is not contactable or not able to submit the same within the reporting time as specified by RBI, the Cardholder authorises and indemnifies the Bank to fill in and submit the request for purchase of foreign exchange (A2 form) on behalf of the Cardholder.


Receipt Of Funds In Excess Of The Loading Amount

89. If the Cardholder has received funds in excess of the loading amount, the cardholder agrees to promptly pay HDFC Bank any such funds upon such terms and conditions as HDFC Bank may specify. If HDFC Bank has grounds to believe that the cardholder has received funds in excess of the loading amount requested by the cardholder, due to any reason whatsoever (including the malfunction of an ATM, POS or other equipment, or HDFC Bank system) HDFC Bank will notify the same to the cardholder and will deduct the excess funds received by the cardholder from the loading amount upon such terms and conditions as HDFC Bank may specify. HDFC Bank further reserves the right to recover such excess funds from any account of the cardholder maintained with itself or any of its group companies, whether such account be a joint account or a sole account or otherwise, or and/or the right to require the cardholder upon notification to immediately make payment of such excess funds, upon such terms and conditions as HDFC Bank may specify. In the event a demand or claim for settlement of outstanding dues/funds received in excess of loading amount from the cardholder is made either by HDFC Bank or any person acting on behalf of HDFC Bank, the cardholder shall pay to HDFC Bank unconditionally the entire amount outstanding on the Card and/or the funds received in excess of the loading amount. Nothing in these terms and conditions shall affect HDFC Bank’s right of lien, set-off, transfer and application of monies at law or pursuant to any other agreement from time subsisting between HDFC Bank and Cardholder.


Disputes

90. A sales slip with the signature of the Cardholder together with the card number noted thereon shall be conclusive evidence as between the bank and the cardholder as to the extent of liability incurred by the cardholder and the bank shall not be required to ensure that the cardholder has duly received the goods purchased/to be purchased or has duly received the service availed or to be availed to the cardholder's satisfaction.

91. The Bank shall make bonafide and reasonable efforts to resolve an aggrieved cardholder's disagreement with applicable charge indicated in the Statement within Ninety Days of receipt of the notice of disagreement. If after such effort, the Bank determines that the charge indicated is correct then it shall communicate the same to the cardholder along with details including a copy of the sales slip or payment requisition.

92. The Bank accepts no responsibility for refusal by any Merchant Establishment to honour the card. The cardholder has to raise a dispute with the bank within 45 days from the date of transaction or attempted ATM Cash Withdrawal towards any unauthorized transactions performed on the card account and shall perform all reasonable efforts towards resolving the disputed transaction by carrying out proper investigation and accordingly raising chargeback with the merchant acquiring bank for the disputed amount. In the event of re-presentment of Chargeback received from the merchant acquiring bank towards the dispute transaction raised, the decision of the merchant acquiring bank shall be final and HDFC Bank shall not be liable for any payment to be made to the Cardholder for the disputed amount.

Bank will not accept any disputes raised by the Cardholder post 45 days towards any unauthorized transaction made on the card account, whatsoever.

93. This agreement will be constructed in accordance with and governed by the laws of India. All disputes are subject to the exclusive jurisdiction of the courts of Mumbai, India only.

94. The Cardholder will be liable for all the costs associated with the collection of dues, legal expenses (should it become necessary to refer the matter to any agent), or where legal resources have been utilised in the resolution of a dispute.


Exclusion of Liability

95. Without prejudice to the foregoing, the Bank shall be under no liability whatsoever to the applicant in respect of any loss or damage arising, directly or indirectly out of:

a. Any defect in goods or services supplied

b. The refusal of any person to honour or accept a card

c. The malfunction of any POS terminal ATMS resulting in non-acceptance of the card and/or PIN / ATM machine leading to non-disbursement of the cash

d. Effecting transaction instruction by any person other than the Cardholder;

e. Any Statement made by any person requesting the return of the card or any act performed by any person in conjunction;

f. Handing over of the card by the Cardholder to anybody other than the designated employees of the Bank at the Bank's premises;

g. Disclosure to any third party of the activation code, ATM PIN or IPIN;

h. The exercise by the Bank of its rights, demand and procure the surrender of the card prior to the expiry date exposed on its face, whether such demand and surrender made and/or procured by the Bank or by any person or computer terminal;

I. The exercise by the Bank of its right to terminate any card

j. Any injury to the credit character and reputation of the applicant alleged to have been caused by the repossession of the card and/or, any request for its return or the refusal of any Merchant Establishment to honour or accept the card;

k. Any misstatement, misrepresentation, error or omission in any details disclosed by the Bank;

l. Decline of a transaction because of the Cardholder exceeding its foreign exchange entitlements as prescribed by RBI guidelines issued from time to time, or the Bank becoming aware of the Cardholder exceeding his entitlements; and m. Decline of transaction due to any reason at a Merchant location/ATM


Insurance Benefits

96. The Cardholder specifically acknowledges that the Bank will not be liable in any manner whatsoever by virtue of any insurance cover provided, and that the insurance company will be solely liable for compensation if any, in case of the death of a Cardholder and/or loss of baggage and/or loss of passport and shall not hold the Bank responsible for any matter arising out of or in connection with such insurance cover, whether for or in respect of any deficiency or defect in such insurance cover, recovery or payment of compensation, processing or settlement of claims or otherwise howsoever, and all such matters shall be addressed to and sorted out directly with the insurance company.

97. The Cardholder acknowledges that the insurance cover so provided will be available to the Cardholder only as per the terms of the relevant insurance policy in force, and only so long as the Cardholder is and remains a Cardholder of the Bank with his maintained in good standing. On the card being cancelled or withdrawn temporarily or permanently for whatever reason, the benefit of such insurance cover shall automatically and ipso facto cease to be available from such date of cessation of card. Further, the Cardholder also agrees that even during continuation of his card, the Bank may at any time at its sole discretion and with reasonable notice thereof to the Cardholder, suspend, withdraw or cancel the benefit of such insurance cover, and there will be no binding obligation on the Bank to continue this benefit.

98. Terms and Conditions of the Insurance Cover: Personal Accident Insurance This is a death-only cover, with a maximum limit of Rs.5,00,000, valid on any bodily injury resulting in death by Rail/Road accident and with a maximum limit of Rs.25,00,000 by Air accident. This death to be within 12 months of the injury. The accidental injury and subsequent death has to be within the validity period of the respective variant of the HDFC Bank Forex card. Loss of Checked-In Baggage Cover, the maximum cover is for Rs.20,000. It applies on loss of checked baggage caused by the airline and the liability admitted by the airline. The payment under Insurance Cover will be reduced by any sum for which the airline is liable to make the payment.

99. Passport Reconstruction Cover Actual cost of reconstruction of passport only with a maximum limit of Rs.50,000. Cost of reconstruction on VISA not included Compensation for reasonable and necessary expenses to obtain a duplicate passport. *Insurance company / policy number is subject to change in future.

100. Intimation & document / claim submission for availing insurance cover Any fraudulent transaction / unauthorized debit should be intimated to the bank within30 days from the date of transaction. Supporting documents / claim should be submitted within 60 days from the date of transaction. Insurance Cover so provided does not covers/considers Theft/Robbed/Robbery cases of the cards/baggage.


Termination

101. The Cardholder may discontinue this facility at any time by getting the card hot-listed. However, for the transactions done during the period the card was active, but posted on the card after the surrender, the Cardholder shall be entirely liable. In case of a dispute on any transaction, Cardholder can notify the Bank and the Bank can raise a chargeback as per regulations of the Network Partner (VISA/MasterCard/Diners).

102. The Bank shall be entitled to discontinue this facility at any time by cancelling the card by giving 30 days' notice and it shall be deemed to have been received by the Cardholder within 30 days of posting to the Cardholder's address in India, last notified in writing to the Bank.

103. The Bank reserves the right to disclose customer information to any court of competent jurisdiction, quasi-judicial authorities, law enforcement agencies and any other wing of Central Government or State Government.


Indemnity

104. The Cardholder agrees to indemnify the Bank against all liabilities, losses, damages and expenses, which the Bank may sustain or incur either directly or indirectly as a result of:

a. Negligence/mistake or misconduct of the Cardholder

b. Breach or non-compliance of the Rules/Terms and Conditions relating to the card.

c. Fraud or dishonesty relating to any transaction by the Cardholder or his employees/ agents ATMs/EDC terminals are machines and errors could occur while in operation. The Cardholder agrees to indemnify the Bank for any such machine/mechanical errors/failures.

105. The Cardholder shall indemnify and hold harmless the Bank from any and all consequences arising from the Cardholder not complying with the exchange control regulations of the RBI.


Terms

106. The Cardholder shall be deemed to have unconditionally agreed to and accepted the Terms of these Terms and Conditions by signing the card application form, acknowledging the receipt of the card in writing, by signing the reverse of the card, by performing a transaction with the card or by usage of the card.

107. The Bank reserves the right to revise policies, features and benefits offered on the card and alter these Terms and Conditions from time to time and may notify the Cardholder of any such alterations in any manner it thinks appropriate. The Cardholder will be bound by such alteration unless the card is returned to the Bank for cancellation before the date upon which any alteration is to have effect.

108. The Bank may introduce new services from time to time. The existence and availability of the new functions will be notified to the Cardholder as and when they become available. The changed Terms and Conditions applicable to the new services shall be communicated to the Cardholder. By using these new services, the Cardholder agrees to be bound by the Terms and Conditions applicable.

109. These Terms form the contract between the Cardholder and the Bank. By applying for the card and accessing the services, the Cardholder acknowledges and accepts these Terms and Conditions. These Terms and Conditions will not be in addition to and not in derogation of the Terms and Conditions relating to any account of the Cardholder.


Governing Law

110. These Terms and Conditions and/or the operations in the accounts of the Cardholder maintained by the Bank and/or the use of the services provided through the card shall be governed by laws of the Republic of India and no other nation. The Cardholder and the Bank agree to submit to the exclusive jurisdiction of the Courts located in Mumbai, India as regards any claims or matters arising under these Terms and Conditions. The Bank accepts no liability whatsoever, direct or indirect, for non-compliance with the laws of any country other than the Republic of India. The mere fact that the card can be accessed by a Cardholder in a country other than India shall not be interpreted to imply that the laws of the said country govern these Terms and Conditions and/or the operations in the Card Account of the Cardholder and/or the use of the card.


Severability and Waiver

111. 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 enforce ability of the remaining provisions shall not be affected in any way. Notwithstanding the foregoing, in the event of the illegality or unenforceability of any Term and Condition herein, the Bank reserves the right to withdraw the Card forthwith.

112. No act, delay leniency or omission by the Bank shall affect its rights, powers and remedies under these Terms 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 available to the Bank under law or at equity.


Assignment

113. The Cardholder acknowledges that the Bank may assign, transfer or convey any or all its rights and obligations in respect of the Card to any third person as it may deem fit in its sole discretion without obtaining concurrence of the Cardholder.


Miscellaneous

114. The Bank reserves the right to use the information provided by the Cardholder on his/her application and during surveys, information from external sources, including consumer reports, for marketing reports and activities carried out by the Bank/Affiliates, the Bank may use this information to develop mailing lists that may be used by companies with whom the Bank shall work to develop marketing offers for the Cardholder.

115. In addition to the general right to set off or other right conferred by law or under any other agreement, the Bank may, without notice, combine or consolidate the balance on the Card with any other account(s), which the Cardholder maintains with the Bank and its Group Companies, and setoff or transfer money, standing to the credit of such other account(s) in or towards the satisfaction of the Cardholder's liability to the Bank under his/her Card.

116. The Cardholder shall forthwith notify the Bank of any change in his/her address for communication as stated in the application form for the Card. The Bank reserves the right to change the cardholder's address in its records if such change in address comes to the notice of the Bank. The responsibility shall be solely of the Cardholder to ensure that the Bank has been informed of the correct address for communication, and the Bank disclaims all liability in case of an incorrect address resulting in any loss or liability for the Cardholder.

117. The Cardholder agrees to adhere to and comply with all such Terms and Conditions as the Bank or its Affiliates may prescribe from time to time for facilities/services availed of by the Cardholder and hereby agrees and confirms that all such transactions effected by or through facilities for conducting remote transactions including the Internet, World Wide Web, electronic data interchange, call centres, teleservice operations (whether voice, video, data or combination thereof) or by means of electronic, computer, automated machines network or through other means of telecommunication, established by or on behalf of the Bank or its Affiliates, for and in respect of such facilities/services offered, shall constitute legally binding and valid transactions when done in adherence to and in compliance with the Terms and Conditions prescribed by the Bank or its Affiliates for such facilities/services, as may be prescribed from time to time. The Cardholder hereby agrees that in case the Cardholder commits a default in payment or repayment of principal amount of the Loan/financial/credit facility or interest/charges due thereon the Bank and/or its directors/partners/supplementary cardholders, as applicable, may report the Cardholder as defaulters in such manner and through such mediums as the Bank or RBI in their absolute discretion may think fit.



General terms & conditions:

I agree to abide by the Bank's Terms and Conditions and rules in force and the changes thereto in Terms and Conditions from time to time relating to my forex card as communicated and made available on the Bank's website.

I agree that the application and usage of the forex card is subject to rules and regulations introduced or amended from time to time by the Reserve Bank of India.

I agree that the bank before issuing forex card, will carry out a due diligence as required under Know Your Customer guidelines of the bank. I would be required to submit necessary documents or proofs, such as PAN, passport, identity proof, address proof, international flight ticket or visa and any such information to meet with KYC, AML or other statutory/regulatory requirements. 
Further, the use of forex card will be in compliance with the extant regulatory guidelines, and I agree to submit the above documents again at periodic intervals, as may be required by the Bank.

I agree that the Bank may, at its discretion, engage the services of Business Facilitators (hereinafter referred to as "BF"), Business Correspondents (hereinafter referred to as "BC") and service providers for extension of banking and financial services to ensure greater financial inclusion and increasing the outreach of the banking sector. The Bank, however, shall be responsible for the acts and omission of such BC, BF or service provider.

I agree that, under normal circumstances, the bank has the liberty to close my forex card at any time by giving me at least 30 days’ notice. However, if the regulatory guidelines or Bank’s terms are not followed, the Bank reserves the right to close my forex card without giving any prior notice.

I agree that the Bank can at its sole discretion, amend any of the services/facilities/benefit given on my forex card either wholly or partially at any time by giving me at least 30 days’ notice and/or provide an option to me to switch to other services/facilities.

I agree that any change PAN, address or other demographic detail, will be immediately informed to the Bank failing which I shall be responsible for any regulatory non-compliance and non-receipt of communication/deliverables.

I agree that I shall be liable to pay all charges, fees, interest, costs wherever applicable, which the Bank may levy with respect to my forex card and/or on any transaction or services rendered and the same may be recovered by the Bank by a debit to my forex card. I agree and acknowledge that in case of non-availability of adequate funds the transaction will be declined.

I agree that I shall not pay any amount in cash to any Sales Representative of the Bank at the time of forex card application or carrying out any transaction in the normal course of the business.

I agree to execute as per the necessary writings mentioned in the application, reload and refund form for forex card.

I agree and acknowledge that the forex card & IPIN details will be dispatched by courier/messenger/mail or through any other mode by the Bank at its discretion to the contact details notified by me for correspondence.

I agree that the Bank will only against written requisition by me will re-set IPIN.

I agree that a forex card may be issued to a Minor by the consent of his/her natural guardian or by a guardian appointed by a court of Competent Jurisdiction. The guardian shall represent the Minor in all transactions of any description in the above forex card until the said Minor attains majority. Upon the Minor attaining majority, the right of the guardian to operate the account shall cease. The guardian agrees to indemnify the Bank against the claim of above Minor for any withdrawal/transactions/load/reload made by him using/into the Minor's forex card.

I agree that in the event of the forex card being in negative balance, the Bank reserves the right to set off my forex card by any credit lying in any of my accounts.

I agree 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.

I agree that the Bank may disclose, in strict confidence, to other institutions, such Personal Information as may be reasonably necessary for reasons inclusive of:

  1. For participation in any telecommunication or electronic clearing network
  2. In compliance with a legal directive
  3. For credit rating by recognized credit rating agencies
  4. For fraud prevention purposes
  5. To credit information bureaus
  6. With service delivery partners for delivery fulfilment
  7. Service providers for distribution of various benefits offered on the forex card


I give consent to the Bank to disclose information provided in the account opening form for the purpose of cross selling by HBL Global Ltd and any other marketing agent/s and/or contractors with whom the Bank enters, or has entered into any arrangement, in connection with providing of services/products, including without limitation, cross selling of various financial products. The Bank will have to always check before any cross-sell attempt whether I have registered for ‘Do Not Call’ facility.

Should I have any complaint relating to the features of any of the products/services of the Bank that I hold/avail of, I am aware that I can approach the Grievance Redressal Cell within the Bank at grievance[dot]redressal[at]hdfcbank[dot]com for a resolution and if I do not get a satisfactory response within 30 days of lodging the complaint, then, under the Banking Ombudsman Scheme 2006,I can approach the Ombudsman appointed by the Reserve Bank of India, in charge of the region where I hold my account, details of which are available at www.bankingombudsman.rbi.org.in

In case any personal information or sensitive information is collected by the Bank, the same shall be dealt with in accordance with the privacy policy of the Bank which is available on the website of the Bank at www.hdfcbank.com.

Bank reserves the right to record telephonic conversations with customers for quality control purposes.

Notwithstanding the documentation and application form provided, the bank reserves the right to accept / reject your application. The Bank's decision in this regard would be final.