These Terms and conditions apply to the registration of users as the Branchless Banking Customers and subsequent use of the Branchless Banking Services (the service) under the agreement digitally or physically signed by the Customer with the FINCA Microfinance Bank Ltd (hereinafter FINCA);
1. In order to get registered , the customer must
2. FINCA at its sole discretion may accept or reject request for registration. In case request of the customer is accepted for availing the Branchless Banking services, FINCA will open a branchless banking account in the name of the customer and may issue an account number
3. The Branchless Banking account shall function as a Deposit Account.
4. FINCA- Branchless Banking Account shall possess a distinctive number, which shall be used in all correspondence relating to the services
5. Only one Branchless Banking Account will be opened per CNIC and mobile number.
6. If the customer notices an error in the information supplied to FINCA either in the registration form or any other communication, He/she shall immediately inform FINCA through call centre or by contacting FINCA so as to allow FINCA to correct the error wherever possible on a "reasonable efforts" basis.
7. In order to use the service, the customer must be registered for the SimSim services.
8. The customer must keep his/her registered Sim active in his/her own name to avail branchless banking service which involve the use of a mobile phone by customer to undertake transactions.
9. All instructions for operating the account and availing the services shall be given by the customer ("Customer Instructions") in the manner prescribed by FINCA The customer shall be responsible for accuracy, completeness and authenticity of the funds received into the BB Wallet & payment instructions provided to FINCA and/or its agents/service providers and the same shall be considered to be correct and sufficient to operate the accounts.
10. The customer accepts that the confidential information provided by the users can be stored for the audit purposes and could also be shared with its service providers. The customer also accepts that the device information for SimSim wallet i.e. IMEI etc. could also be stored by the FINCA bank for the purpose of log management.
11. Customer authorizes the SimSim authorities to share the data with its service providers for log management and marketing campaigns.
12. For the user registration, the customer accepts the registration and fulfills the required fields. FINCA will send the six digit OTP once the pre-requisites are completed. The customer shall select a 4 digit PIN code at the time of registration of service in order to access his /her Branchless Banking Account.
13. The customer must have sufficient funds available in his/her account to complete requested transactions. In case of insufficient funds FINCA have the absolute right to decline any authorization relating to the transaction?
14. In case the request of customer for customer availing services exceeds/breaches the prescribed limit for branchless banking accounts (Transaction Limited), FINCA shall have the right to reject said transactions/request.
15. The registered Branchless Banking account is an access mechanism, to customer account; therefore in case mobile phone or SIM of registered mobile number is lost/stolen/snatched the customer shall immediately inform FINCA Bank to Block the SimSim wallet. Upon reciept of this information, FINCA will block the Branchless Banking account temporarily.
16. FINCA at its discretion may amend, add or remove any of the facilities offered under the BB services and the Terms & Conditions.
17. The customer undertakes and agrees not to use or permit to use Services for any illegal or improper purposes and shall comply with all applicable terms and conditions, laws and regulations governing the Branchless Banking accounts and electronic fund transfer.
18. The customer shall be solely responsible for any illegal funds transfer and money laundering activity carried out through his/her account.
19. The Customer shall at all times be liable to pay to FINCA for any amount transferred to his branchless banking account in excess of his rightful ownership be it due to system error or due to technical glitch and FINCA will also have the right to mark debit / recover the involved amount from the account of customer.
20. The Provision of Branchless banking service is subject to all applicable charges & taxes.
21. The security of the PIN must not be endangered or compromised by choosing a PIN that can be easily guessed, such as the four(4) digits of the same numbers such as (1111) or numbers in sequence (such as 1234)
22. The customer must not under any circumstances store his/her PIN (or pass code) on his/her handset (mobile) carrying Registered Mobile Number/SIM. If the customer's handset automatically stores his/her PIN (or pass code), the ONUS shall be on customer to delete the same.
23. The customer irrevocably and unconditionally undertakes to ensure that the PIN and other confidential information are kept confidential and not to let any other person have the access to the mobile phone and the login PIN.
24. The Customer shall take all necessary precautions to prevent unauthorized and illegal use of their accounts.
25. If the customer believes that his/her account has been accessed without his/her knowledge or consent, or that is that his/her PIN has been fraudulently used, he (she) shall contact FINCA helpline (111-111-562) immediately to block the account.FINCA lodge a complaint at his/her nearest FINCA branch.
26. FINCA through its Branchless Banking platform "SimSim" will inform the customer regarding the Branchless Banking transactions through his/her registered email or registered post at last known mailing address or through SMS at his/her registered mobile number. The customer shall ensure to keep his/her registered mobile number active and to keep the FINCA informed about any changes in his/her email, correspondence address or registered mobile number. However, FINCA cannot guarantee the delivery of an SMS at the customer handset and FINCA shall not be responsible for any loss, expense, claim or damage whatsoever arising from any delay or failure of SMS to reach the customer due to any issue at the Telecom Operator's end.
27. FINCA Microfinance Bank and SimSim Team shall not be liable if anyone gets access to Customer's PIN and SIM with FINCA's registered Branchless Banking account numbers and customer fails to inform FINCA. The transactions received at the FINCA with proper Pin are deemed authorized & will be considered legitimate and acted upon by FINCA. FINCA will accept no liabilities and shall not be liable for the claim & compensation against customer's loss.
28. The customer registered phone/SIM shall only be used by the customer and he/she shall take all necessary precautions and care to ensure that the same are not misplaced, lost, stolen or theft. If customer's registered phone/SIM is lost or stolen the customer shall immediately notify his/her mobile operator to block and prevent misuse of the Sim. The customer shall also promptly notify FINCA call center to block the access to his/her account FINCA.
29. The customer shall be solely responsible and FINCA shall not be liable for any loss (direct, indirect and consequential) if access is gained to the customer's account through forgery, wiretapping, theft or divulgence of PIN by the consumer.
30. The technology for enabling the transfer of funds and other services offered by FINCA could be affected by issues relating to telecommunication networks and accounts and services may be interrupted/ made unavailable by natural calamities, force majeure, legal and/or regulatory restraints, faults in the telecommunication networks, network failure, or any other reason beyond the control of FINCA The account could also be affected by virus or other malicious, destructive or corrupting code, program or macro at the customer end.
31. The transaction for transfer of funds or payments to affiliates as per customer instruction may not be completed as requested for various reasons, including, but not limited to those specified in the preceding paragraph. In all such cases the customer shall not hold FINCA responsible in any manner for the said transaction and contracts and the customer's sole recourse in this regard shall be with the beneficiary of the transaction.
32. FINCA shall not be liable for anything done in good faith for any damages whatsoever whether such damages are direct, incidental, consequential and irrespective of whether any claim is based on the loss of revenue, interruption of business or any loss of any character or nature whatsoever and whether sustained by the customer, supplementary user or by any other person.
33. In order to keep the transactions secure, FINCA shall consider only those transaction requests which shall be made from SimSim registered mobile number.
34. FINCA will never ask for the customer's login PINs; the customer shall not share his/her PIN and/or pass code with anyone, including FINCA staff, other agents under any circumstances.
35. If the customer registers a mobile number with his/her account and provides access thereof to any other individual the bank is not liable for any misappropriation or fraudulent activities by other individuals.
36. By using the service, the customer authorizes to FINCA to debit his/her accounts with all applicable charges as per the Schedule of Bank Charges (SOBC) and government levy or tax that is in force and applicable at the time of transaction whether or not communicated to the customer in Schedule of Charges(SOC) of FINCA. The transfer fees will be applicable as mentioned in SOC which is available at FINCA its website or in the branches of FINCA.
37. The customer will be liable for all transactions that have been conducted from to his/her account through registered SimSim wallet using the PIN (and/or Pass Code)
38. In case FINCA could not debit the charges for the services, it reserves the right to recover such charges subsequently from Branchless Banking Account. If sufficient funds are not available in Branchless Banking account, then FINCA may terminate the services until recovery of said charges/fees. If there are any transactions or fees still unpaid by the customer after the services is terminated, the customer shall be liable for the full outstanding amount owed to FINCA and FINCA reserves the right to recover any unpaid fees/charges & FED & levies from any account of the customer maintained with the FINCA.
39. The customer agrees to use the service at his/her own risk and FINCA shall not be liable for any loss or damage whatsoever, unless such loss or damage arises from gross negligence or fraud on part of FINCA or its staff.
40. The customer indemnifies FINCA against any claims by third parties or loss suffered by FINCA arising from the use of the service by the customer.
41. The customer shall be responsible for giving correct information and instructions when setting up beneficiaries and making payment to beneficiaries. FINCA shall not be responsible for any loss or damage caused due to customer's error, either in setting up the beneficiary or in making payments. FINCA shall also not be liable for payments made by the customer to an unintended recipients/beneficiaries if the customer gives wrong information to FINCA.FINCA shall not also be responsible for verification of identity of the recipients/beneficiaries if the customer gives wrong information to FINCA. FINCA shall also not be responsible for verification of identity of the recipients/beneficiaries. If the funds are transferred to the account of unintended recipients due to incorrect instructions of the customer, FINCA will not be able to reverse the incorrect transaction/payment without specific consent of the beneficiary. In such scenario FINCA could only pass on customer's instruction to the beneficiary or his/her bank but FINCA shall not be responsible to get the transaction reversed nor will be liable for any loss, claim , damages or expenses suffered by the customer.
42. The customer shall be responsible for supplying correct contact details of the recipients and the customer agrees to use the service at his/her own risk. Notice of confirmation of payment to the recipient does not warrant that the recipient has received the payment or has access to the funds. FINCA accepts no liability whatsoever, and customer indemnifies FINCA against any loss, expense, claim or damage that the customer or a third party may suffer, whether direct, indirect or consequential, arising from the use of this service, or arising from any delay or failure by FINCA to send an email, telefax or SMS. FINCA makes no representation or warranty, whether express or implied, as to the operation and functionality of the service or the accuracy and integrity of the transmitted information. The service is subject to the applicable charges as per medium used to notify the recipients of payments made to them. The customer can find the details of these fees from SOC of FINCA calling the FINCA customer care on 042-111-111-562 or visiting the nearest FINCA branch.
43. So FINCA may terminate, suspend or withdraw the services if :
44. FINCA reserves the right to terminate the services of the consumer immediately without any notice to the consumer in case of suspected fraud, if compelled by law or highlighted by any concerned authority. Upon termination of services, the customer shall be liable to pay/settle fee/charges etc. any pending charges with respect to all transactions carried out on his/her instructions. FINCA reserves the right to recover the charges/fees etc. from the customer.
45. The customer shall not disclose his/her account related or personal information with anyone in order to avoid any unauthorized access to his/her account.
46. All transactions, fees and charges recovered from the customer will be shown on customer wallet, mini statement or can be obtained from FINCA Back- end operation through Call Centre 042-111-111-562
47. FINCA may from time to time amend these Terms and conditions or the services and are deemed accepted by the customers after revision while using the application. The revised Terms and conditions will be available in the branches of FINCA or can be seen through the application/ website.
48. FINCA may communicate any amendments, additions or removals to the service to the customer through various means, including via SMS and in- app intimations.
49. Any failure by FINCA to enforce its rights will not constitute a waiver of such rights.
50. The customer shall not cede, assign or transfer in any way of the rights and obligations pertaining to the customer in terms of the service to any other person or entity without the express and prior written consent of FINCA.
51. These Terms and conditions are to be read together with FINCA's general Terms and conditions governing the account.
52. If customer wishes to lodge the complaints, he / she) may contact FINCA Call center on 042-111- 111-562. FINCA will investigate the complaint and revert to the customer within a reasonable period of time.
53. FINCA, in compliance with laws and regulations may intercept and investigate any payment messages and other information or communications sent to or by the customer or on the customer behalf via other bank and this process may involve making further inquiries and stoppage of transaction and may disclose such information to any Law Enforcement Agency, Court of Law or any Regulatory Authority
54. SimSim by FINCA will not be held responsible for any service issue if the same occur to customers having mobile numbers with MNP (Mobile Network Portability)
55. SimSim by FINCA reserves the right without any prior notice to the customer to debit the account for any expenses, fees, commissions, markup/interest, zakat, withholding tax, stamp duty, tax, duty or any other cost, charges or expenses arising out of any transactions or operation of the account with FINCA as may be payable to the provincial or federal government as may be levied, from time to time. All applicable taxes shall be recovered as per tax laws in force.
56. FINCA may correct erroneous and incorrect posting of entries and inform the customer subsequently.
57. The Terms and conditions shall be governed by the substantive, and procedural laws of the Islamic republic laws of Pakistan. The Parties hereby agree that any legal action or proceedings arising out of or in connection with this agreement shall be brought in the competent courts at Lahore in Pakistan and irrevocably submit themselves to the jurisdiction of such competent courts.
58. The customer undertakes, indemnity and agrees
Only registered SimSim users can send invites to their contact list. In case the user gets a notification from someone who is not in their contact list, or is not the original recipient of their invite, they should not share the incentive with the unknown individual under any circumstances.
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