Mobile Banking Security Policy
This Mobile Banking Policy governs the use of Reserve Bank Employees’ Co-operative Bank’s Mobile Banking offering.
Reserve Bank Employees’ Co-operative Bank’s Mobile Banking allows customer to bank anytime anywhere through his mobile phone. Customer can access his banking information and make transactions on his accounts at absolutely no cost.
In this document all references to the user being referred in masculine gender shall be deemed to include the feminine gender.
Definitions:
In this policy document, unless there is anything repugnant to the subject or context thereof, the expressions listed below shall have the following meanings viz.
” Reserve Bank Employees’ Co-operative Bank” means Reserve Bank Employees’ Co-operative Bank Ltd., Bengaluru.
"Account(s)" shall mean any one or more accounts held and/or facilities provided to the Customer by Reserve Bank Employees’ Co-operative Bank including but not limited to savings accounts, current accounts, term deposits or such other accounts and/or facilities as may be determined by Reserve Bank Employees’ Co-operative Bank from time to time, for which the Facility is being offered or may be offered in future.
"Alert(s)" means the customized messages sent to the Mobile Phone Number as an SMS in response to the triggers set by the customer.
"Alert/Push Facility" shall mean the service provided by Reserve Bank Employees’ Cooperative Bank, wherein a customer can obtain specific information to the customer’s Account on the customer's mobile phone number.
"Customer" shall mean a customer of Reserve Bank Employees’ Co-operative Bank or any person who has applied for any product/service of Reserve Bank Employees’ Cooperative Bank.
"Reserve Bank Employees’ Co-operative Bank Contact Number" refers to the number/s provided by Reserve Bank Employees’ Co-operative Bank to its Customers for availing of Request/Pull Facility or such other facilities which may be availed of through the Reserve Bank Employees’ Co-operative Bank’s Contact Number, as communicated by Reserve Bank Employees’ Co-operative Bank from time to time.
"Service" or "Facility" shall mean mobile banking facility (which provides the Customers, services such as information relating to Account(s), details about transactions and such other services as may be provided on the Mobile Phone Number by Reserve Bank Employees’ Co-operative Bank, from time to time.
"Registered Mobile Number (RMN)" shall mean the number registered/provided by the Customer in writing (either through a printed form provided by Reserve Bank Employees’ Co-operative Bank or otherwise), or through ATM, website for the purpose of availing the Facility.
"Website" refers to www.rbecb.com or any other website as may be notified by Reserve Bank Employees’ Co-operative Bank.
"Personal Information" shall mean the information about the Customer obtained in connection with the Facility.
"Request/Pull Facility" shall mean facility through which Customers will be able to make requests about their Account(s) by sending "key words" through SMS to Reserve Bank Employees’ Co-operative Bank Contact Number provided by Reserve Bank Employees’ Co-operative Bank for the purpose.
"SMS" shall mean Short Messaging Service, which is the transmission of short text messages to and from SMS enabled devices including but not limited to mobile phones.
"Mobile Banking app" shall mean the mobile banking application which can be installed on the mobile phone handset to access information pertaining to the Account(s).
Other abbreviations used:
RBI -- Reserve Bank of India
NEFT - National Electronic Funds Transfer
RTGS - Real Time Gross Settlement
IMPS - Immediate Payment Service
MPIN – Mobile Banking Personal Identification Number
OTP - One Time Password
FD – Fixed Deposit
Reserve Bank Employees’ Co-operative Bank Mobile Banking:
Reserve Bank Employees’ Co-operative Bank’s Mobile Banking offering that gives customers complete control over their accounts and lets them bank from the comfort of their home, office or even if they are on the move, 24 hours a day, 7 days a week. This facility is absolutely free for all eligible Reserve Bank Employees’ Co-operative bank account holders.
With Reserve Bank Employees’ Co-operative Bank’s Mobile Banking, customers can avail of a wide range of banking services, that literally puts the bank at their fingertips.
It gives customers instant access to their:
1. Savings Accounts
2. Term Deposit Accounts
Customers can:
1. Check their account balance
2. Get mini statement (last 10 transactions)
3. Get Passbook Statement (all transactions of the last 1 month)
4. Know their cheque status
5. Transfer funds within own Reserve Bank Employees’ Co-operative Bank own accounts, to other accounts of Reserve Bank Employees’ Co-operative Bank customer, non-Reserve Bank Employees’ Co-operative Bank accounts using NEFT
6. Do IMPS P2P, P2A transactions for immediate funds transfer
7. Request for cheque book
8. Stop cheque
9. Request for account statement
Mobile Banking Policy:
Disclaimer:
Please note that the resources contained in this policy, the terms and conditions and descriptions that appear herein are subject to change without any notice.
ELIGIBILITY:
The facility is available for customers having a satisfactory running account. The Facility will be offered to resident individuals and sole proprietary concerns with mode of operation ‘Self and/or Either/ Survivor’. In the case of joint Account(s) with mode of operation ‘Jointly’, this facility will not be available.
AVAILABILITY & DISCLOSURE:
Reserve Bank Employees’ Co-operative Bank has adopted the mode of authentication of the Customer by means of verification of the Mobile Phone Number and/or through verification of MPIN allotted by Reserve Bank Employees’ Co-operative Bank to the Customer or through any other mode of verification as may be stipulated at the discretion of Reserve Bank Employees’ Co-operative Bank. The customer agrees that while the Information Technology Act , 2000 prescribes that a subscriber may authenticate an electronic record by affixing his digital signature which has been given legal recognition under the Act, the Bank is authenticating the customer by using mobile phone number, MPIN or any other method decided at the discretion of the Bank which may not be recognized under the Information Technology Act, 2000 for authentication of electronic records and this is acceptable and binding to the customer and hence the customer is solely responsible for maintenance of the secrecy and confidentiality of the MPIN without any liability to the Bank.
Reserve Bank Employees’ Co-operative Bank shall endeavor to provide to the Customer through the Facility, services that the Bank, may decide from time to time. Reserve Bank Employees’ Co-operative Bank reserves the right to decide what services may be offered to a Customer on each Account and such offers may differ from Customer to Customer. Reserve Bank Employees’ Co-operative Bank may also vary the services offered through the Facility at its sole discretion.
The Facility is made available to the user at the Customer request, at the sole discretion of Reserve Bank Employees’ Co-operative Bank and may be discontinued by the Bank at any time without notice. Access to the Facility shall be restricted to the Customer availing the Facility. Customer instructions shall be affected only after authentication of the Customer by means of verification of the Mobile Phone Number and/or through verification of MPIN allotted by Reserve Bank Employees’ Co-operative Bank to the Customer or through any other mode of verification as may be stipulated at the discretion of the Bank.
Reserve Bank Employees’ Co-operative Bank shall endeavor to carry out the instructions of the Customer promptly, provided that the Bank, shall not be held responsible for the delay in carrying out such instructions due to any reason whatsoever, including, but not limited to, failure of operational system or any requirement of law or Reserve Bank Employees’ Co-operative Bank’s internal policies.
RECORDS:
All records of Reserve Bank Employees’ Co-operative Bank generated by the transactions arising out of use of the Facility, including the time of the transaction recorded shall be conclusive proof of the genuineness and accuracy of the transactions. The authority to record the transaction details is hereby expressly granted by the Customer to Reserve Bank Employees’ Co-operative Bank.
INSTRUCTIONS:
All instructions for availing the services under the Facility shall be provided through the mobile phone number in the manner indicated by Reserve Bank Employees’ Cooperative Bank. The Customer is also responsible for the accuracy and authenticity of the instructions provided to the Bank and the same shall be considered to be sufficient for availing of the services under the Facility. The Alerts would be sent to the mobile phone number, last registered with Reserve Bank Employees’ Co-operative Bank. Alerts will not be offered for two mobile phone numbers for the same Account. The same mobile phone numbers cannot be registered for availing the Facility in relation to different Account(s) under different customer-id. Keywords for various information requests shall be as may be provided for, from time to time, including on the application forms or as available on Reserve Bank Employees’ Co-operative Bank's website www.rbecb.com or available at Reserve Bank Employees’ Co-operative Bank.
Where Reserve Bank Employees’ Co-operative Bank considers the instructions to be inconsistent or contradictory it may seek clarification from the Customer before acting on any customer instructions or act upon any such instruction as it may deem fit. Reserve Bank Employees’ Co-operative Bank shall have the right to suspend the services under the Facility if the Bank has reason to believe that the Customer's instructions may lead to direct or indirect loss or may require an indemnity from the Customer before continuing to operate the Facility.
ACCURACY OF INFORMATION:
The Customer undertakes to provide accurate and complete information wherever required and shall be solely responsible for the correctness and completeness of information provided by him to Reserve Bank Employees’ Co-operative Bank at all times, including, but not limited to, for the purposes of availing of the Facility. The Bank shall not be liable for consequences arising out of erroneous information submitted by the Customer. If the Customer suspects that there is an error in the information supplied by the Bank to the customer, he should inform Reserve Bank Employees’ Cooperative Bank at the earliest. The Bank will endeavor to correct the error wherever possible on a best effort basis. While Reserve Bank Employees’ Co-operative Bank will take all reasonable steps to ensure the accuracy of the information supplied to the Customer, Reserve Bank Employees’ Co-operative Bank shall not be liable for any inadvertent error, which results in the providing of inaccurate information.
DISCLAIMER OF LIABILITY:
Reserve Bank Employees’ Co-operative Bank shall not be responsible for any failure on the part of the Customer to utilize the Facility due to the Customer not being within the geographical range within which the Facility is offered and which forms part of the roaming network of the mobile phone service provider. If the Customer has reason to believe that the Mobile Phone Number is / has been allotted to another person and / or there has been an unauthorized transaction in the Account and / or the mobile phone handset is lost, the customer shall immediately inform Reserve Bank Employees’ Cooperative Bank of the same.
INDEMNITY:
In consideration of Reserve Bank Employees’ Co-operative Bank providing the Facility, the Customer, at his/her own expense, agrees to indemnify, defend and hold harmless, Reserve Bank Employees’ Co-operative Bank, its directors and employees, representatives, agents and/or the affiliates, as the case may be, against all losses, damages, expenses, actions, claims, demands and proceedings whatsoever, that the Bank may incur, sustain, suffer or be put to at any time as a consequence of acting on or omitting or refusing to act on any instructions given by the Customer or otherwise for use of the Facility.
The Customer agrees to indemnify, defend and hold harmless Reserve Bank Employees’ Co-operative Bank and/or its affiliates, against any loss incurred by the Customer due to failure to provide the services offered under the Facility or any delay in providing the services due to any failure or discrepancy in the network of the mobile phone service provider.
The Customer agrees to indemnify, defend and hold harmless, Reserve Bank Employees’ Co-operative Bank from any losses occurring as a result of the:
i. The Customer permitting any third parties to use the Facility.
ii. The Customer permitting any other person to have access to his mobile phone or as a consequence of leaving the mobile phone unattended or loss of mobile phone.
FEES:
Currently this facility is absolutely free for all eligible Reserve Bank Employees’ Cooperative Bank account holders. However, Reserve Bank Employees’ Co-operative Bank shall have the discretion to charge such fees as it may deem fit from time to time and may at its sole discretion, revise the fees for use of any or all of the Facility, by notifying the Customer of such revision.
The Customer may, at any time discontinue or unsubscribe to the said Facility. The Customer shall be liable for payment of such airtime or other charges which may be levied by any mobile phone service provider in connection with availing of the Facility and Reserve Bank Employees’ Co-operative Bank is in no way concerned with the same.
The charges payable by the Customer is exclusive of the amount payable to any mobile phone service provider and would be debited from the account of the Customer on periodical basis (monthly/quarterly basis).
Reserve Bank Employees’ Co-operative Bank reserves the right to charge the Customer a fee for the use of services provided under the facility and change the fee structure at its discretion. Display of such charges on website of Reserve Bank Employees’ Co-operative bank (www.rbecb.com) would serve as sufficient notice and the same is binding on the customer.
MODIFICATION:
Reserve Bank Employees’ Co-operative Bank shall have the absolute discretion to amend or supplement any of the features and benefits in relation to the Facility.
Reserve Bank Employees’ Co-operative Bank shall communicate the amended Policy by hosting the same on Bank's website (www.rbecb.com) or in any other manner as decided by Reserve Bank Employees’ Co-operative Bank. The Customer shall be responsible for regularly viewing this Policy, including amendments thereto as may be posted on the Bank’s website (www.rbecb.com) and shall be deemed to have accepted the amended Terms and Conditions by continuing to use the Facility.
TERMINATION:
The Customer may request for termination of the Facility at any time by giving a written notice of at least 15 days to Reserve Bank Employees’ Co-operative Bank or through any other mode as specified by the Bank through its website (www.rbecb.com) or through any other channel. The Customer will continue to be responsible for any transactions that may have been effected through the Mobile Phone Number in relation to the Facility prior to such cancellation of the Facility.
Reserve Bank Employees’ Co-operative Bank may, at its discretion, withdraw temporarily or terminate the Facility, either wholly or in part, at any time without giving prior notice to the Customer. The Bank may, without prior notice, suspend the Facility at any time during which any maintenance work or repair is required to be carried out or in case of any emergency or for security reasons, which require the suspension of the Facility.
Reserve Bank Employees’ Co-operative Bank shall endeavor to give a reasonable notice for withdrawal or termination of the Facility. The closure of all account(s) of the Customer will automatically terminate the Facility.
Reserve Bank Employees’ Co-operative Bank may suspend or terminate Facility without prior notice if the Customer has breached these Terms and Conditions or Reserve Bank Employees’ Co-operative Bank learns of the death, bankruptcy or lack of legal capacity of the Customer.
Reserve Bank Employees’ Co-operative Bank may de-activate the facility if the facility has not been accessed for six months or more.
GOVERNING LAW:
This policy shall be governed and construed in accordance with the laws of India and any dispute or differences arising out of or in connection with the Facility shall be subject to the exclusive jurisdiction of the Courts at Bangalore.
Reserve Bank Employees’ Co-operative Bank accepts no liability whatsoever, direct or indirect for non-compliance with the laws of any country other than that of India. The mere fact that the Facility can be accessed by a Customer in a country other than India does not imply that the laws of the said country govern this policy and / or the operations in the account(s) of the Customer and / or the use of the Facility.
ALERTS:
The Customer is responsible for intimating to Reserve Bank Employees’ Co-operative Bank, any change in the Mobile Phone Number or email address or Account details and Reserve Bank Employees’ Co-operative Bank will not be liable for sending Alerts or other information over the Mobile Phone Number/email address not recorded with the Bank.
The Customer acknowledges that to receive Alerts, the Mobile Phone Number must be active and accessible. The Customer acknowledges that if the Customer's Mobile Phone Number remains inaccessible for a continuous period (such period dependent upon service providers) from the time an Alert is sent by Reserve Bank Employees’ Cooperative Bank, that particular Alert may not be received by the Customer.
The Customer acknowledges that the provision of the Facility is dependent on the infrastructure, connectivity and services to be provided by service providers engaged by Reserve Bank Employees’ Co-operative Bank or otherwise. The Customer accepts that timelines, accuracy and readability of Alerts sent by Reserve Bank Employees’ Cooperative Bank will depend on factors affecting other service providers engaged by the Bank or otherwise. Reserve Bank Employees’ Co-operative Bank shall not be liable for non-delivery or delayed delivery of Alerts, error, loss or distortion in transmission of Alerts to the Customer.
FUNDS TRANSFER FACILITY:
The payer accepts that he will be responsible for keying in the correct details, which are required to make fund transfers through the above-mentioned facility; such details being specified by Reserve Bank Employees’ Co-operative Bank from time to time. In no case, will the Bank be held liable for any erroneous transactions arising out of or relating to the payer keying in erroneous details required to make fund transfers through the abovementioned facility. If the abovementioned facility is made available to the Payer, it may be used for transfer of funds from Account(s) to other accounts belonging to third parties maintained at Reserve Bank Employees’ Co-operative Bank and/or at any other bank which falls under the network of RBI’s Electronic Fund Transfer (EFT) or National Electronic Fund Transfer system (NEFT) or Real Time Gross Settlement (RTGS) or any other network approved by RBI. In such an event, the terms applicable to such facilities, in addition to those applicable to the Facility, shall be applicable. The liability of Reserve Bank Employees’ Co-operative Bank shall only commence subsequent to the debit in the payer’s account.
Reserve Bank Employees’ Co-operative Bank’s MOBILE BANKING USING IMMEDIATE PAYMENT SERVICE (IMPS)
CHANNEL:
Immediate Payment Service (IMPS) is an instant interbank fund transfer service through mobile phones. IMPS lets customers use their mobile phone as a channel for accessing their bank accounts and remitting funds. IMPS is managed by the National Financial Switch of National Payments Corporation of India (NPCI), a Government of India entity which is also used for routing ATM transactions in India. Customers do not need to separately register for IMPS. Customers can receive or transfer funds instantly on the mobile phone.
LIMIT of TRANSACTIONS
Customers shall be able to make financial transactions of up to Rs. 10,000/- transaction. Reserve Bank Employees’ Co-operative Bank may, at its sole discretion, increase or reduce the limit up to the limit as permissible under applicable laws.
RESPONSIBILITIES AND OBLIGATIONS OF CUSTOMERS:
The customer will be responsible for all transactions, including fraudulent/erroneous transactions made through the use of his/ her mobile phone, SIM card and MPIN, regardless of whether such transactions are in fact entered into or authorized by him/ her. The customer will be responsible for the loss/damage suffered. The customer shall take all steps possible to ensure that his/her mobile phone is not shared with anyone and shall report any misuse/ loss of the mobile phone or SIM card immediately.
The customer will use the services offered under Facility using the MPIN/Password in accordance with the procedure as laid down by Reserve Bank Employees’ Co-operative Bank from time to time.
The customer shall keep the USER ID and MPIN confidential and will not disclose these to any other person or will not record them in a way that would compromise the security of the services. It will be the responsibility of the Customer to notify Reserve Bank Employees’ Co-operative Bank immediately if he/ she suspect the misuse of the MPIN. The Customer will also immediately initiate the necessary steps to change MPIN. If the mobile phone or SIM is lost, the customer must immediately notify the telecom service provider to block the SIM. After that, he/she shall advise the user ID, mobile phone number to Bank’s helpline to suspend Reserve Bank Employees’ Co-operative Bank Mobile Banking Service.
The Customer accepts that any valid transaction originating from the USER ID and / or registered mobile phone number shall be assumed to have been initiated by the customer. The Customer shall ensure that the mobile is secured with required security features.
The Customer shall keep himself/herself updated with regard to any information/ modification relating to the services offered under the facility which would be publicized on the websites and at the branches and would be responsible for the same.
The Customer shall be liable for all loss on breach of the Policy, Terms and Conditions contained herein or contributed or caused the loss by negligent actions or a failure on to advice Reserve Bank Employees’ Co-operative Bank within a reasonable time about any unauthorized access in the account.
SIGNATURE REQUIREMENTS:
When any transfer or other instruction is initiated through the Facility, user agrees that Reserve Bank Employees’ Co-operative Bank shall execute the instruction without requiring user’s signature on the instruction.
MISCELLANEOUS:
Reserve Bank Employees’ Co-operative Bank reserves the right to revise the policies, features and benefits offered through the Facility from time to time and may notify the Customer of any such revisions/changes in any manner as deemed appropriate. The customer will be bound by such revisions/changes unless the customer terminates the Facility.
The Customer shall comply with all such terms and conditions as Reserve Bank Employees’ Co-operative Bank may prescribe from time to time for facilities/services availed of by the Customer.
Risk Management, Privacy and Security by Reserve Bank Employees’ Co-operative Bank:
Risk Management, Privacy and Security by Reserve Bank Employees’ Co-operative Bank:
In the course of using Mobile Banking application or availing the products and services vide the online application forms, Reserve Bank Employees’ Co-operative Bank may become privy to the personal information of its customers, including information that is confidential in nature.
Reserve Bank Employees’ Co-operative Bank is strongly committed to protecting the privacy of its customers and has taken all necessary and reasonable measures to protect the confidentiality of the customer information and its transmission through the Mobile Banking application and it shall not be held liable for disclosure of the confidential information when in accordance with the Privacy Commitment or in terms of the agreement, if any, with the customer.
Reserve Bank Employees’ Co-operative Bank endeavors to safeguard and ensure the security of information provided by the customer. Reserve Bank Employees’ Co-operative Bank employs a range of security features for its Mobile Banking service. These measures extend from data encryption to firewalls. Reserve Bank Employees’ Co-operative Bank uses 128-bit Secure Socket Layer (SSL) encryption technology, to ensure that the information exchanged between the customer's mobile and the mobile banking servers over the Internet is secure and cannot be accessed by any third party. When the information provided by the customers is not transmitted through this encryption, the customers’ system (if configured accordingly) will display an appropriate message ensuring the best level of secrecy for the customers’ information.
How Customers Can Protect Their Privacy:
1. The Customer would be required to cooperate with Reserve Bank Employees’ Cooperative Bank in order to ensure the security of the information, and it is recommended that the Customers necessarily choose their 4-digit numeric MPINs carefully such that no unauthorized access is made by a third party.
2. The Customers should ensure not to disclose their MPIN to anyone or keep any written or other record of the MPIN such that a third party could access it.
3. Do not share your account information, MPIN or similar sensitive data with others.
4. Never provide confidential information to unknown callers.
5. When conducting business over the mobile browser, always use a secure browser and exit online applications as soon as you finish using them.
6. Protect your account records.
7. Avoid writing down MPINs/passwords.
8. Avoid the use of birthdays, anniversaries or similar details which can be easily guessed as MPINs.
9. Make sure that your mobile is protected with anti-virus and you have latest anti-virus software.
10. Properly dispose of old mobiles that are not needed by hard reset and erasing all data.
11. All users should logout after every login session; however, online sessions will automatically be terminated after 5 minutes of inactivity. This to protect you in case you accidentally leave your mobile banking session unattended after you login.
12. Enable a device lock password on the mobile to prevent unauthorized access to personal and confidential information in contacts, messages and other media files.
13. Avoid clicking on links which are sent via E-mails. Type URL (Universal Resource Locator) of all such links directly on the mobile browser. Avoid sending or furnishing personal and financial information on email. Also prior to providing any information (financial or personal) on a website, verify the bonafide of the website, its address and of the owners / operators of such websites. Make sure that the URL that appears in the "address" or "location" box on your browser window is the one you wish to access.
14. If you are a victim of fraud or identity theft, please contact the branch immediately so that the bank may place the necessary restrictions on your account(s) to put holds on your accounts.
15. Neither bank nor its service providers will contact you via telephone or email or any other means requesting personal information, your customer ID or your MPIN. If you are contacted by anyone requesting this information, please do not share it and contact us immediately.
16. RB Employees’ Co-operative Bank undertakes not to disclose the information provided by the customer to any person, unless such action is necessary to:
17. Conform to legal requirements or comply with legal process
18. Protect and defend Reserve Bank Employees’ Co-operative Bank's rights, interests or property
19. Enforce the terms and conditions of the products or services including Mobile Banking services or act to protect the interests of Reserve Bank Employees’ Co-operative Bank or its members, constituents or of others