GENERAL

These terms and conditions regulate the use of Semi Closed Prepaid Payment Instrument or such other services which may be added from time to time under the brand name “FedMobile Wallet” offered by The Federal Bank Ltd, a banking company within the meaning of Companies Act, 2013 and having its Registered Office at Federal Towers, Aluva-683101, Kerala (hereinafter referred to as “Federal Bank” or “the Bank”). Federal Bank has been authorised to provide Semi Closed Prepaid Payment Instrument Services by the Reserve Bank of India under Authorisation number: (#Authorisation Number will be mentioned).
Usage of the FedMobile Wallet and related tools are governed by the following terms and conditions (“Terms of Use”).
For the purpose of these Terms of Use, wherever the context so requires, the terms ‘You/Your’ or “User” shall mean any natural or legal person who has registered for FedMobile Wallet and who has accepted these Terms of Use and the terms “We”, “Us”, or “Our” shall mean The Federal Bank.
The term “Merchant” as used hereunder shall include any establishment and/or entity who accept the FedMobile Wallet as a payment method for online purchase of goods and/or services. Similarly, the term “Buyer” shall refer to the person(s) who purchase any of the goods or services provided online by the Merchants using the FedMobile Wallet.
\The User acknowledges that the KYC details provided by them will be valid for any financial products, and/or services offered by Federal Bank or its affiliates/partners. Further, User hereby consents to the Federal Bank sharing the KYC information with any affiliates/partners for the purpose of the financial offerings.

These Terms of Use shall govern and be applicable to transactions that take place using FedMobile Wallet on the FedMobile App. By using the FedMobile wallet, the User shall be contracting with the Federal Bank and these terms and conditions, including the policies mentioned herein, shall constitute the User’s binding obligation, with the Bank. Further, acceptance of these Terms of Use shall constitute confirmation of the fact that the User has also accepted the terms and conditions for use of the FedMobile App, through which the Wallet service is accessible.

The Bank provides online payment facilitation services. Through FedMobile Wallet, the Bank enables the User to make payments to registered merchants/sellers (“Merchants”) for purchase of goods and services or to registered billers (“Billers”) for payment of bills. These transactions are between the Merchants/Billers and the User. Federal Bank acts only as an intermediary in these transactions by facilitating collection of payments from the User and settlement of such payments to the respective Merchant/Biller. The Federal Bank shall not be responsible for the products/services purchased using the FedMobile Wallet and any liability thereof is expressly disclaimed.

In addition, the Bank provides value added services such as bill presentment, bill reminders, loyalty points (cashbacks) and discounts etc. FedMobile Wallet Cashback (“Wallet Cashback”) is provided by the Bank and is distributed through the FedMobile App. Wallet Cashbacks may only be used through the FedMobile App to make payments for goods and services purchased from registered merchants or to make bill payments to registered billers or for transfer of funds etc., or for any such other purposes, as mutually agreed from time to time.

The Bank reserves the right, at its sole discretion, to change, modify, add or remove portions of these Terms of Use, at any time without prior written notice to the User and it is the responsibility of the User to review these Terms of Use periodically for ascertaining updates / changes. Use of the FedMobile Wallet by the User following posting of updates/changes shall be deemed as acceptance of the revisions made to these Terms of Use, including any additional Terms that may be added thereto or removal/modification of existing portions thereof. As long as the User complies with these Terms of Use, the Bank shall grant to the User a personal, non-exclusive, non-transferable, limited privilege to access and avail the services provided by the Bank through the FedMobile Wallet.

USING THE FEDMOBILE WALLET INDICATES ACCEPTANCE BY THE USER OF ALL THE TERMS AND CONDITIONS MENTIONED HEREUNDER. THEREFORE, PLEASE READ THESE TERMS OF USE CAREFULLY BEFORE PROCEEDING.

By accepting these Terms of Use, User also accepts and agrees to be bound by the various Policies of Federal Bank (including, but not limited to the Privacy Policy, as amended from time to time.)

Account and Registration

The User hereby undertakes and declares that

• You are 18 (eighteen) years old or older;
• You are capable of entering into a legally binding agreement;
• You are an Indian resident;
• You have not been previously suspended or removed from the Prepaid Payment Account Services of the Bank;
• You have valid and subsisting right, authority, and capacity to enter into these Terms and Conditions and to abide by all of the terms and conditions contained herein; and
• You are not impersonating any person or entity, or falsely stating or otherwise misrepresenting identity, age or affiliation with any person or entity.

User shall be able to register for FedMobile Wallet by:

• Creating a FedMobile registration in FedMobile App (“FedMobile Platform”) and activating the FedMobile Wallet service by providing the required details and agreeing to the Terms & Conditions.
• In case of a Federal Bank account holder, explicit registration as mentioned above is not required for activating the Wallet service.

As per RBI guidelines it is mandatory for the User to provide KYC or basic identification details for using FedMobile Wallet. User shall provide only valid Indian KYC documents for the purposes of verification and operation of FedMobile Wallet.

“KYC” stands for Know your Customer and refers to the various norms, rules, and regulations issued by the RBI from time to time under which the Bank is required to procure personal identification details from the User, before any services can be delivered. Federal Bank does not validate any documents of foreign origin for KYC purpose and shall not be responsible for any wrong details being provided by the User.

In the event the KYC details provided by the User are found to be incorrect/insufficient, Bank reserves the right to cancel/stop/temporarily suspend operations in the FedMobile Wallet allotted to the User. Bank also retains the right to share the details of transactions undertaken by the User through the FedMobile Wallet as well as the KYC details of the User and/or end beneficiary details with RBI, as per statutory guidelines issued from time to time.

Activation of FedMobile Wallet

The FedMobile Wallet may be activated only using a mobile number of an Indian Telecom Provider. Users of mobile numbers of international telecom providers shall not be eligible for activation and use of FedMobile Wallet.

FedMobile Wallet will be automatically activated on the FedMobile app of a Federal Bank account holder who opts for “View + Transaction” services, without having to submit any additional KYC documents. The KYC details already linked to such customers’ account(s) in the Bank’s records will be used for the purpose of FedMobile Wallet also.

For all other Users (who are not account holders of Federal Bank), an explicit registration for the FedMobile Wallet is required using an ‘Officially Valid Document (OVD)’, as defined under Rule 2(d) of the Prevention of Money Laundering Rules, 2005 as amended from time to time.

Officially Valid Document (OVD) means and includes any of the following documents:

• Driving license
• Voters Identity Card issued by Election Commission of India
• Permanent Account Number (PAN) Card

For activation of the FedMobile Wallet, the mobile number of the User provided during registration will be verified by sending a One-Time Password (OTP) via SMS. Only after the User has (a) successfully entered the OTP sent to his/her mobile number, (b) provided self-declaration containing name and unique identification number of any of the OVD and (c) accepted the Terms of Use of the facility, will the FedMobile Wallet be activated for use.

In case the User has provided only basic identification details for activation of FedMobile Wallet, the full KYC process must be completed by such User within 18 months from the date on which the Wallet was first activated. However, if the full KYC process is not completed by the User within the prescribed period of 18 months, the FedMobile Wallet allotted to the User will be automatically moved to ‘Debit Only Mode’ and no further credit shall be allowed in such Wallet. Please refer to our section on ‘Debit Only Mode’ for more details. However, in such case, User shall be permitted to exhaust the balance available in the FedMobile Wallet, following which further transactions in the Wallet will be temporarily suspended.

In the event of any dispute between two or more Users as to ownership of a particular FedMobile Wallet, User agrees that the Bank will be the sole arbiter of such dispute. The Bank’s decision (which may include termination or suspension of any Wallet subject to dispute) will be final and binding on all parties.

User hereby agrees that if any information provided by them turns out to be untrue, inaccurate, not current or incomplete or if the Bank has reasonable grounds to suspect that any information provided by the User is untrue, inaccurate, not current or incomplete, in accordance with the Terms of Use, Bank shall be entitled to indefinitely suspend or terminate access to the User’s FedMobile Wallet and any amounts therein shall ………………………….

The Bank shall ensure that all confidential data of the User pertaining to money transactions, bank account details and all other sensitive personal information are duly protected and kept confidential by the Bank by employing the best available protection standards that are elaborated in the Bank’s Privacy  Policy available at……………………….

If the particulars provided by you in the KYC documents submitted for min KYC do not match with the details mentioned while completion of full KYC of the wallet, then We shall have the right to forfeit the balance amount in your FedMobile wallet.

The FedMobile Wallet is not transferable. Moreover, a User can operate only one FedMobile Wallet at any given point of time. Any violation of this condition shall entail immediate suspension/discontinuation of all FedMobile Wallets that may be activated and/or used by the User.

By proceeding to use the FedMobile Wallet and/or other service offerings of Federal Bank, User represents and confirms that they are not currently a Politically Exposed Person (“PEP”) as defined by the Reserve Bank of India in Master Direction DBR.AML.BC.No.81/14.01.001/2015-16. However, User agrees and undertakes to immediately notify the Bank in circumstances where User’s status in this regard changes or the User becomes related to a PEP, by promptly notifying the Federal Bank in writing to ensure that appropriate steps are taken in accordance with applicable laws and Bank’s standard policy. User further understands that as a PEP User will be subject to additional customer due diligence requirements as determined by RBI as well as transaction monitoring and reporting requirements. As a PEP, User hereby agrees to fully comply with all the aforesaid additional customer due diligence requirements as well as cooperate with the Bank to complete all continuing compliance requirements applicable to a PEP as will be notified by the Bank to ensure uninterrupted use of FedMobile Wallet and other service offerings of the Federal Bank.

Loading/Topping-up of FedMobile Wallet:

• FedMobile Wallet can be loaded or topped-up through BHIM UPI or a debit card, or from refunds/cashbacks that may arise due to cancellations and returns of User transactions at Merchant Platforms or in FedMobile. FedMobile Wallet will be displayed as an option on the order return/cancellation screen for all such refunds on the Merchant Platforms. However, Bank has the sole discretion to not permit Refunds into the FedMobile Wallet for purchases made through any particular payment method.
• Notwithstanding the above, Wallet Top up is not permitted for FedMobile Users who have linked at least one bank account to the mobile app via FedMobile or UPI registration.

KYC wallet limit*

*These limits are based on FedMobile Risk Rules.

Purchases through FedMobile Wallet

FedMobile Wallet can be used to purchase products and services within the FedMobile application. FedMobile Wallet can be used by selecting it as the payment mode at the time of payment.

User can pay directly from his/her linked bank account, if:

• The order value exceeds the available amount in the FedMobile Wallet
• The User has exceeded his/her limit for Purchases using the Wallet, as per the RBI rules

Bank has incorporated certain velocity checks i.e. restrictions on the number/value of Wallet top ups and purchase transactions to prevent, detect and restrict occurrence of fraudulent transactions. User hereby agrees to comply with these restrictions put in place by the Bank.

Purchase Limits for KYC wallets*

Withdrawals from FedMobile Wallet

User will be allowed to withdraw the cash balance in the FedMobile Wallet to their designated bank account at any time after completion of Full KYC. In all cases, the top-up amount shall be reversed only to the own bank account of the Wallet holder.
Withdrawing money from FedMobile Wallet in the form of cash is not permitted. However, User can transfer money from FedMobile Wallet to their own bank account anytime, subject to limits set by RBI in this regard.
User shall be solely responsible for providing the updated and correct details of their bank account in case transfer of money from FedMobile Wallet to User’s bank account is required. The Bank shall not be responsible under any circumstances for crediting funds into the account provided by the User for the said purpose.
Any request for such withdrawal of amounts from the Wallet to User’s bank account shall be placed through the FedMobile app & shall be processed for credit on t+1 basis. However, Bank shall not be responsible for any failure in crediting funds withdrawn from the Wallet into the designated bank account of the User owing to circumstances that are/may be outside the control of the Bank.

Withdrawal limits for KYC wallets*

*These limits have been set based on FedMobile Risk rules
Notwithstanding the above, the facility for withdrawal of amounts from FedMobile Wallet to the designated Bank account of the User shall not be available for Wallets opened using basic identification details (minimum KYC Wallets). In case the User wishes to avail the said functionality, User shall be required to complete full KYC of the FedMobile Wallet as already mentioned hereinabove.

Cashback / Wallet Balance Limit

User hereby agrees that in case the User becomes eligible for Wallet Cashback, the same shall be received in the form of gift vouchers.
Federal Bank reserves the right to extend the validity period of such gift vouchers at its sole discretion and without providing any specific intimation to the User. Further, Bank also reserves the right to impose additional amount limits on Wallet transactions, within the overall applicable limit and to award offers and related benefits as per the internal policy of the Bank from time to time.
User agrees that the outstanding amount allowed in the FedMobile Wallet at any point of time shall not exceed INR 10.000.
User understands that in case of any cancellations, the Wallet Cashback given on the transaction will continue to remain as gift voucher balance and shall not be withdrawable to the User’s bank account. However, such gift voucher balance can be used on FedMobile App for carrying out transactions such as recharges, bill payments, etc.
Wallet Cashback received in the FedMobile Wallet shall not be permitted to be withdrawn by the User to any linked bank account nor can the same be transferred to any other customers.

FedMobile Rewards programme

Federal Bank from time to time provides incentives in the form of FedMobile Reward Points to Users who may redeem it as they see fit. However, redemption of such Reward Points shall not be permitted in the form of cash or by withdrawal to the bank account of the User.

By agreeing to use FedMobile Wallet, User also agrees to the below terms and conditions:

• Federal Bank reserves the right to provide rewards to its users as per internal policies as decided by the Bank from time to time.
• For Cashback rewards, all of Federal Bank’s terms and conditions applicable to cashback awardance and usage will continue to apply.
• Federal Bank reserves the right to pull back rewards from a User’s Wallet/account (pre or post redemption), without any notice/intimation to the User, in case of any suspicious or fraudulent activities that may be detected by the Bank from time to time.
• Federal Bank does not guarantee rewards under the programme in any manner whatsoever.
• In case the User becomes eligible for reward points, the same shall be credited to the User’s FedMobile Wallet.
• User hereby understands and consents that the Federal Bank may use their personal information for promotional purposes, without insisting for any additional consent from or compensation to them. Moreover, User also consents to the Federal Bank sharing their personal information as is necessary for provisioning the Service, with its affiliates/service providers who have executed relevant Non-Disclosure/Confidentiality Agreements with the Bank.
• This offer is not available in the state of Tamil Nadu (owing to the Tamil Nadu Prize Scheme (Prohibition) Act 1979) and other states wherever prohibited by law.
• The User’s participation in any offer constitutes their understanding and agreement to the complete terms and conditions associated with such offer.

Usage & Charges

Membership is free for Users. Federal Bank does not charge its Users any fee for creating a Wallet or use of Services. However, the bank reserves the right to change its fee policy from time to time. In particular, the bank may at its sole discretion introduce new services and modify some or all of the existing services offered on the FedMobile app. In such an event, Bank reserves the right to introduce fees for the new services offered or amend/introduce fees for existing services, as the case may be. Changes to the fee policy shall be posted on the website of the Bank and such changes shall automatically become effective immediately after they are posted on the website. Unless otherwise stated, all fees shall be quoted in Indian Rupees.

As part of the registration process, User shall create a PIN for their FedMobile Wallet. This PIN shall be the same as the Mobile Banking PIN in case of a Federal Bank customer with View + Transaction access. The PIN has to be explicitly set for all other category of wallet users.

The User is responsible for maintaining the confidentiality of the PIN and the FedMobile Wallet. For security purposes, it is recommended that the User should memorize the PIN and not write it down. Further, User agrees not to disclose these credentials to any third party. Any person to whom the PIN may be disclosed will have full access to the User’s payment information, and User assumes all risk of loss resulting from any such access. All information and instructions received from the User’s FedMobile App will be deemed to have been authorized by the User and the recipients of this information shall rely on its authenticity based on the use of the PIN. User will be solely responsible for all acts committed by any third party who may have gained access to the FedMobile/FedMobile Wallet using the PIN created by the User and Bank shall not, under any circumstances, be held liable/responsible for any damages sustained by the User owing to such access.

Validity & Forfeiture Policy

The Bank reserves the right to amend or modify the validity period of the FedMobile Wallet facility offered to the User, upon providing 45 days prior intimation to the User, through ………………. Bank also reserves the right to terminate the FedMobile Wallet in case of violation of any policy or Terms of Use or any rule/policy issued by the RBI or Government of India or any other concerned body and in such event, any balance in the FedMobile Wallet shall be credited back to the designated bank account of the User, bearing the same name as the document submitted while completing the full KYC process. In such an event, Bank shall report the matter to the concerned body/authority and may freeze all transactions in the FedMobile Wallet until given clearance by the authority.

Bank further reserves the right to move the FedMobile Wallet to ‘Debit Only Mode’ if the User is involved in any suspicious transaction and/or any transaction in gross violation of the rules and regulations issued by the Reserve Bank of India (“RBI”), governing the use of Pre-Paid Payment Instruments including, but not limited to, rules and regulations under Prevention of Money Laundering Act, 2002 and any amendments thereto. In such an event, Bank shall report the matter to RBI and shall also freeze transactions in the FedMobile Wallet until further instructions are obtained from RBI in this regard.

One time closure option

Federal Bank offers Users a one-time facility for closure of the FedMobile Wallet and crediting of Wallet Balance to designated bank accounts. However, in case of Wallets opened using minimum identification details (minimum KYC), User must complete the full KYC process before closure of the Wallet. Upon closure of the FedMobile Wallet, any withdrawable balance therein will be transferred to the designated bank account provided by the User. For Users who are Federal Bank account holders, the designated account shall be the operative account linked to the FedMobile App of the User. Any non-withdrawable balance (such as Wallet Cashback) will be reversed to the Bank and will not be credited to the bank account of the User. Wallet top-ups will be not permitted following closure of the Wallet and any pending refunds will not be credited thereto. User understands and agrees that the withdrawable balance in the Wallet shall be transferred by the Bank based on the request of the User and User shall be solely responsible for the details provided to the Bank for effecting the transfer, such as account number, IFSC code etc.

Inactive Wallet

A FedMobile Wallet having no financial transaction for 18 months from the date of Wallet creation/KYC status change shall be treated as an Inactive Wallet. User will not be able to utilize the existing wallet balance for merchant transactions if the Wallet is in inactive state. Moreover, top-up of the Wallet balance or withdrawal of the existing balance shall be disabled in case of inactive Wallets. However, any pending refunds shall be credited to the Wallet by the Bank and User will continue to receive promotional Wallet Cashback received as Gift Voucher and may be permitted to use it for merchant transactions. The User shall be cautioned prior to the date of inactivity of the FedMobile Wallet by way of SMS, e- mail, post etc., so as to avoid the Wallet becoming Inactive. An Inactive Wallet may be reactivated by the User after completion of full KYC, by submitting the requisite documents as maybe prescribed by the Bank from time to time.

Privacy Policy

Federal Bank will use best efforts to ensure that the information submitted by the User remains private, and is used only for the purpose for which it is submitted. Federal Bank collects information that User provides voluntarily, while using the FedMobile Wallet Platform. Additionally, while using FedMobile Wallet, Federal Bank also collects information about User’s transaction behaviour, such as billing address, details of the recipient, location etc. Federal Bank shall not provide any information of the User to a third party without specifically informing the User at the time of collection and/or without the express consent of the User. Federal Bank logs IP addresses, browser type, number of pages viewed etc., in order to provide better service to the User. The information so logged shall be used to get page view statistics, analyse trends and better understand the usage of FedMobile Wallet application, and for system administration purposes. Federal Bank reserves the right to perform statistical analysis of User’s behaviour and preferences in order to measure Users’ relative interests in the various areas of the FedMobile Wallet application for the purpose of product and service development. This analysis shall be anonymous and not tagged to the identity of the User. The analytical data that Federal Bank collects is for internal use only to improve the content and services of the application. In return, User shall benefit from improved quality of services. Federal Bank does not provide any personally identifying information of the User to any third party, without specifically informing the User of such information being shared at the time of its collection, and without the User’s express consent. However, if subpoenaed or ordered by a court of law, Federal Bank shall be constrained to disclose to the appropriate authorities the personal information of any individual User/Users. External web sites, whose links may be incorporated in the FedMobile Wallet application, are not under the control of Federal Bank, and Federal Bank shall not be held responsible for the content or privacy policies of any linked sites or any links containing other linked sites. Federal Bank may, as and when it deems fit to do so, change, alter or modify its Privacy Policy. User is advised to visit the web site of the Bank continually in order to monitor changes in the policy, as the policy will be binding upon the User in relation to his/her use of Federal Bank’s services, including the FedMobile Wallet. By using the FedMobile Wallet, and/or by providing the required information, User hereby consents to the collection and use of the information so disclosed in accordance with the Privacy Policy of Federal Bank.

Governing law and Dispute Resolution:

This Agreement and the rights and obligations thereunder and the relations of the parties and all matters arising under or in connection with this Wallet Terms of Use, including the construction, validity, performance or termination thereunder, shall be governed by and construed in accordance with the laws of the Republic of India.

In the event any disputes, differences, or controversies should arise between the parties hereto, out of or in connection with the use of the FedMobile Wallet, the parties hereto shall thoroughly explore all possibilities for amicable settlement. In case amicable settlement cannot be reached, such disputes, differences or controversies shall be referred to arbitration by a sole Arbitrator to be nominated by the Parties, and the Arbitrator shall conduct the Arbitration in accordance with the provisions of the Arbitration and Conciliation Act, 1996 and pass the award which will be binding on the parties to this agreement. The venue of such Arbitration shall be at Kochi only. It is further agreed by and between the parties hereto that the Courts in Ernakulam will have the exclusive jurisdiction to try cases between the parties, after exhausting the Arbitration clause.
If any provision of these Terms of Use is held to be invalid or otherwise unenforceable, then that provision shall be deleted, and the remaining provisions shall remain valid and enforceable.
Headings are inserted for convenience of reference only and shall not be deemed to affect the interpretation of these Terms of Use.
Any failure by the Bank to exercise any of the rights under this Agreement shall not constitute a waiver of such right or a waiver with respect to subsequent or similar breach. A waiver shall be effective only if made in writing.
Federal Bank shall have the right to assign this Agreement (including all of our rights, titles, benefits, interests, and obligations and duties in this Agreement) to any of our affiliates and to any successor in interest. Federal Bank may, in its discretion, delegate certain rights and responsibilities under this Agreement to independent contractors or other third parties. User may not assign, in whole or part, this Agreement to any person or entity without the Bank’s prior written consent which may be withheld at the sole discretion of the Bank.