Terms and Conditions for Airtel Money Services The terms and

Terms and Conditions for Airtel Money Services

The terms and conditions subject to which the Airtel Money Services are provided are mentioned herein

(‘Terms and Conditions’).

The use of Airtel Money Services by the Customer is subject to the acceptance of the Terms and

Conditions.

By enrolling for the Airtel Money Services, the Customer acknowledges that the Customer has read,

understood and agrees to be bound by these Terms and Conditions.

1. DEFINITIONS

1.1 Airtel Payments Bank Limited (erstwhile known as Airtel MCommerce Services Ltd.) is a company

incorporated under the Companies Act, 1956/2013 with its registered office at Bharti Crescent,

1, Nelson Mandela Road, Vasant Kunj, Phase II, New Delhi - 110070, India and Principal Office at

Airtel Center, Plot No 16, Udyog Vihar, Phase-IV, Gurgaon-122015 (hereinafter referred to as the

“Bank”).

1.2 “Airtel Money Services” or “Services” refers to stored value digital wallet services offered by Airtel

Payments Bank Limited under the permission granted by Reserve Bank of India (‘RBI’). Under the

Services, the Bank issues the Airtel Money Account.

Airtel Money Services are governed by:

(a) The Payment and Settlement Systems Act, 2007 & Regulations made there under,

(b) Policy Guidelines on Issuance and Operation of Pre-paid Payment Instruments in India, 2016

("RBI Guidelines") and

1.3 "Customer" shall mean Indian Nationals above the age of 18 years who has registered with the

Bank for availing the Airtel Money Services and who has accepted these Terms and Conditions

and owns a compatible mobile phone that supports Airtel Money Services.

1.4 “Access Channel” shall mean the method used by the Customer to access the Airtel Money Account

which includes USSD, IVR, NetBanking or the smartphone application available on the google

play store and the apple app store.

1.5 "Airtel Money Account" shall mean the pre-paid payment instrument issued by the Bank including

Express Account(Minimum KYC) and Power Account(Full KYC).

1.6 "Charge(s)" or "Service Charge" shall mean the charges which the Bank may levy upon the

Customer in consideration for enrolling for the Airtel Money Services.

1.7 "Wallet to Wallet Transfer" refers to a facility provided by the Bank whereby an Airtel Money

Account can transfer funds from an Airtel Money Account to any other Airtel Money Account

issued by the Bank.

1.8 “Wallet to Bank Transfer” refers to a facility provided by the Bank whereby an Airtel Money Account

can transfer funds from an Airtel Money Account to a savings or current bank account

1.9 “Domestic Money Transfer” refers to the money remittance facility offered to customers who do

not have access to formal banking channel.

1.10 "Merchant Establishment" shall mean and include physical merchants, remote merchants ,

electronic commerce merchants, mobile commerce merchants and/or any other merchants

(including financial services) who have been authorized by the Bank to accept payment for goods

or services using the Airtel Money Account.

1.11 "USSD" means Unstructured Supplementary Services Data and refers to a method of accessing

and using the Airtel Money Account, i.e. by dialing a specified short code from the mobile number

registered with the Bank for Airtel Money Services.

1.12 "Enrollment Form" shall mean the form to be completed in writing by the Customer along with

necessary supporting documents, as required by the Bank for enrolling for the Airtel Money

Services.

1.13 "Express Account" shall mean an Airtel Money Account classified as semi-closed system

payment instrument issued by the Bank by accepting minimum Customer details, which can

be used for purchase of goods or services at all identified Merchant Establishments including

financial services and Domestic Money Transfers as per RBI guidelines.

1.14 "Power Account" shall means an Airtel Money Account classified as semi-closed system payment

instrument issued by the Bank by accepting full KYC document approved under the PML Rules

2005, as amended from time to time, which can be used for purchase of goods or services at all

identified Merchant Establishment including financial services and Domestic Money Transfers

as per RBI guidelines.

1.15 "KYC" stands for Know Your Customer and refers to the various norms, rules, laws and statutes

issued by RBI from time to time under which the Bank is required to procure personal

identification details and proof of documents from the Customer as may be required at the time

of enrolling for Airtel Money Services and/ or on a later date, for availing and / or continuation of

the Airtel Money Services.

1.16 "M-PIN" shall mean the secret numeric password used to secure Airtel Money applications,

without knowledge of which the Airtel Money Account may not be operable.

1.17 "Transaction" shall mean any credit and debit of money balance in the Customer’s Airtel Money

Account including but not limited to payment for purchase of goods or services at all identified

Merchant Establishments including financial services or Domestic Money Transfers.

2. INTERPRETATION

2.1 All references to singular include plural and vice versa and the word "includes" should be

construed as "without limitation".

2.2 Words importing any gender include the other gender.

2.3 Reference to any statute, ordinance or other law includes all regulations and other instruments

and all consolidations, amendments, re-enactments or replacements for the time being in force.

2.4 All headings, bold typing and italics (if any) have been inserted for convenience of reference

only and do not define limit or affect the meaning or interpretation of these Terms.

3. Documentation

3.1. The collection, verification, audit and maintenance of correct and updated Customer

information is a continuous process and the Bank reserves the right, at any time, to take steps

necessary to ensure compliance with all relevant and applicable KYC requirements. The Bank

reserves the right to discontinue services/ reject applications for Airtel Money Services at any time

if there are discrepancies in information and/or documentation provided by the Customer.

3.2. Any information provided to the Bank with the intention of securing Airtel Money Services shall

vest with the Bank, and may be used by the Bank, for any purpose consistent with any applicable

law or regulation, at its discretion.

3.3. If the particulars provided by the Customer in the KYC documents do not match with details

mentioned in the Enrollment Form, then the Bank has the right to close the account and may

forfeit the balance therein.

3.4 For any information provided by the Customer to the Bank for any purpose, via any medium,

Customer is solely responsible for the correctness of that information. If the information provided

by Customer is found to be incorrect or erroneous, the Bank holds no responsibility and is not

liable for any consequences that the information may carry. If the Customer finds out any

information related to his/her account is incorrect or erroneous, he or she can reach out to the

Bank to notify the same. If the Bank finds out that the information provided by Customer is false

or erroneous, Bank holds the right to terminate the Customer’s account and forfeit the amount

lying in the account.

4. GENERAL CONDITIONS OF AIRTEL MONEY SERVICE

4.1 The Customer will be issued, Express Account immediately after successful registration. The

account can be upgraded to a Power Account on submission of KYC documents by the Customer

either at the time of registration or at a later date when the same are verified and approved by

the Bank. Power Account shall ordinarily be activated within twenty one (21) working days of

receipt and verification of the associated documentation.

4.2 The Customer may credit the Airtel Money Account through any of the methods mentioned at

www.airtel.in/bank. The list of cash-in outlets, limits and methods of crediting Airtel Money

Account are subject to change as per discretion of the Bank without any prior intimation to the

Customer.

4.3 The Customer may note that withdrawing cash and refunds from Airtel Money Account is not

allowed. Any outstanding credit in the Airtel Money Account must be utilized only to make

payments for bona-fide Transactions.

4.4 Airtel Money Services for Bharti Airtel Limited mobile connection holders is available on all the

Access Channels subject to the Customer’s mobile handset supporting these Access Channels.

Airtel Money Services for other telecommunications service provider mobile connection holders

is available only on the smartphone application available on the google play store and the apple

app store.

4.5 Airtel Money Services are not transferable.

4.6 The maximum monetary value that can be stored at any point of time in an Airtel Money Power

Account is INR 1,00,000/-(Rupees One Lac Only). The maximum permitted value of credit and debit

transactions in a single day for Airtel Money Power Account is INR 50,000/-(Rupees Fifty Thousand

Only)

4.7 The maximum monetary value that can be stored in a month in an Express Account is INR 20,000/-

(Rupees Twenty Thousand Only).

4.8 The maximum monetary value that can be transferred under Domestic Money Transfer for an

Express Account in a single month is INR 25,000 (Rupees Twenty Five Thousand Only) and is also

subject to a per transaction limit of Rs 5,000 (Rupees Five Thousand Only).

4.9 The maximum monetary value that can be transferred under Domestic Money Transfer for an

Power Account in a single month is INR 25,000 (Rupees Twenty Five Thousand Only) and is also

subject to a per transaction limit of Rs 5,000 (Rupees Five Thousand Only).

4.10 For transactions through USSD, the maximum permitted value of a single Transaction is INR

5,000 (Rupees Five Thousand Only).

4.11 These limitations stated in clauses 4.6, 4.7, 4.8. 4.9 & 4.10, in line with the regulations, may be

reviewed and modified at the discretion of the Bank without prior intimation to the Customer.

4.12 Any value in the Customer Airtel Money Account must be utilized within the validity period of 185

days from the date of last Transaction or from the date of activation of the Airtel Money Account;

whichever is later. The Bank reserves the right to forfeit the balance lying in the Airtel Money

account after the validity period.

4.13 The Bank reserves the right to suspend/discontinue Airtel Money Services at any time, for

any cause, including, but not limited, to the following-

(a) For any suspected discrepancy in the particular(s), documentation or Enrollment Form

provided by the Customer;

(b) To combat potential fraud, sabotage, willful destruction, threat to national security or for

any other force majeure reasons etc;

and/or maintenance due to any emergency or for any technical reasons.

(d) If the same is due to any transmission deficiencies caused by topographical and geographical

constraints/limitations;

(e) If the mobile connection with which the Airtel Money Account is related, ceases to be

operational or in the Customer’s possession or control.

(f) For any suspected violation of the rules, regulations, orders, directions, notifications issued

by RBI from time to time or for any violation of the Terms and Conditions mentioned in herein;

(g) If the Bank believes, in its reasonable opinion, that cessation/ suspension is necessary.

4.14 The Bank may as per its discretion introduce appropriate controls including but not limited

to revised Airtel Money Account limits. The Bank may further request the Customer /

beneficiaries of the Airtel Money Services to submit additional KYC documents as part of

ongoing monitoring and Customer due diligence.

4.15 The value stored in the Airtel Money Account shall NOT be refunded under ANY circumstances.

The Customer must utilize the value stored in the Airtel Money Account to make payments for

bona-fide Transactions.

4.16 The Customer is permitted to maintain and operate only one Airtel Money Account. Any

suspected non-conformity with this requirement shall be just cause for the suspension/

discontinuation of any/all Airtel Money Accounts associated with the Customer by the Bank.

5. BILLING AND PAYMENT

5.1 The Customer shall pay the Service Charges prescribed by the Bank in the form and manner

prescribed for such payment. The Bank may at its discretion, change, amend, increase, modify or

reduce the Service Charges from time to time with due notification to the customer. For schedule

of Services Charges please refer company website (www.airtel.in/bank) or call the Airtel Money

Customer care center.

5.2 Any value in the Airtel Money Account that is utilized towards making payments for any

Transaction shall be automatically debited from the Airtel Money Account. The Bank's

responsibility is limited to the debiting of the Airtel Money Account and subsequent payment to

any Merchant Establishment including financial services or transfer to the Bank. The Bank

does not endorse, promote, champion or warrant any goods and/or services that might be

bought/availed or proposed to be bought/availed using the Airtel Money Services.

5.3 The Bank reserves the right to recover funds for Transactions processed from the balance in

the Customer’s Airtel Money Account.

6. CUSTOMER OBLIGATIONS

6.1 A irtel Money Services availability is subject to the maintenance of an active mobile phone

connection with a telecommunications service provider and a mobile phone handset supporting

Access Channels on which Airtel Money Services run. The Customer is solely responsible for all

liability arising from the unavailability of the Airtel Money Services due to non-maintenance of

an active mobile phone connection with the telecommunications service provider or a mobile

handset not supporting the Access Channels.

6.2 The Customer must ensure the availability of sufficient funds before executing any Transaction

from the Airtel Money Account.

6.3 The Customer shall be solely responsible for the confidentiality, safety and security of the M-

PIN. The Customer shall be the sole owner of the M-PIN and shall be responsible for the

consequences arising out of disclosure of the M-PIN and/or the unauthorized use of Airtel

Money Service. In case the M-PIN is lost or misplaced, The Customer shall promptly inform

the Bank by calling at the Customer care numbers where after the M-PIN will be barred and a new

M-PIN will be issued to the Customer after necessary validation. In case the mobile phone/ SIM

card associated with the Airtel Money Services is lost/stolen/misplaced/ no longer in the

Customer’s control or possession or operational, the Customer shall promptly inform the Bank.

6.4 The Customer shall only use the Airtel Money Services for Transactions with the approved

Merchant Establishment including financial services and Banks.

6.5 The Customer shall intimate the Bank about change in any information, including but not limited

to change in address etc. within one week along with such proof of change as per the KYC

documents and further provide any information and document that the Bank may request

from time to time.

6.6 The Customer shall not use Airtel Money Services for any purpose that might be construed as

contrary or repugnant to any applicable law, regulation, guideline, judicial dicta, the Bank policy

or public policy or for any purpose that might negatively prejudice the goodwill of the Bank.

6.7 T h e Customer acknowledge and understand that Airtel Money Services are linked to the mobile

phone connection and the Customer shall be solely responsible for any liability arising out of the

loss/ theft / misuse of the mobile phone number or deactivation of mobile connection by the

telecommunications service provider.

6.8 Information submitted by the Customer for availing the Airtel Money Services or information

submitted while using Airtel Money Services may be shared with third parties(including but not

limited to Bharti Airtel Limited) by the Bank, inter alia, to facilitate the provision of Airtel Money

Services.

6.9 Information submitted by the Customer for availing the mobile connection of Bharti Airtel

Limited or information submitted by the Customer while using the mobile connection of Bharti

Airtel Limited, may be requested from Bharti Airtel Limited and used by the Bank to facilitate the

provision of Airtel Money Services with the consent of the customer.

6.10 The Customer shall ensure that the Airtel Money Services are not used for Transactions in

foreign currency.

7. CONFIDENTIALITY

7.1 Privacy of communication is subject to the terms of the permission granted by the RBI and RBI

notifications/directives etc. The Customer specifically agree that in order to facilitate the provision

of Airtel Money Services, the Bank may be required to disclose any information or particulars

pertaining to the Customer to any authority, statutory or otherwise.

7.2 The user interfaces, graphics, logos, design, compilation, information, computer code (including

source code and object code), products, software, services, and all other elements of the Airtel

Money Service provided by the Bank (the "Materials") are protected by copyright, designs, patent,

and trademark laws, international conventions and other applicable intellectual property and

proprietary rights of either the Bank and/or its related Parties.

7.3 Any information relating to the Customer is generally used to provide the Airtel Money Services,

improve the Airtel Money Services and otherwise. For a detailed overview of what kind of

information Bank collects, stores, uses, shares, please go through the privacy policy available on

the company’s website.

8. DISCLAIMER OF LIABILITY

8.1 The Bank makes no express or implied warranty, guarantee, representation or undertaking

whatsoever regarding the Airtel Money Services, which are not expressly mentioned herein.

8.2 The Bank shall not be responsible for any acts or omissions of any third party including

distributors/retailers/merchants etc., with regard to services which are not expressly authorized

by the Bank.

8.3 The Bank shall not be liable to any person for any delays, loss of business, profit, revenue

or goodwill, anticipated savings, damages, fees costs, expense, etc. or for any indirect or

consequential loss, howsoever arising, on Airtel Money Account being unavailable/usage of the

Airtel Money Services or otherwise.

8.4 The Bank shall not be liable to any person for injuries or damages resulting from omissions,

interruptions, delays, errors in transmission, failures or defects in equipment, or disconnection

of the mobile services by Bharti Airtel Limited or any other cause including but not limited to the

failure to transmit, or any other causes beyond the control of the Bank or for any reason

whatsoever.

8.5 The Terms and Conditions herein shall be subject to the notifications/ guidelines issued by RBI,

from time to time.

8.6 The Bank will do its best to ensure that Customer Transactions and information remain secure

and confidential. The Bank makes no warranty or representation of any kind in relation to the

system and the network or their function or performance or for any loss or damage whenever and

howsoever suffered or incurred by the Customer or by any person resulting from or in

connection with the use of the Airtel Money Services.

9. INDEMNITY

9.1 The Customer agree to indemnify, defend and hold the Bank and/or related parties harmless from

any and all claims, losses, damages, and liabilities, costs and expenses, including and without

limitation legal fees and expenses, arising out of or related to the use or misuse of the Airtel

Money Services, any violation of these Terms and Conditions, or any breach of the

representations, warranties, and covenants.

10. ADDITIONAL T&Cs

10.1 Any dispute with or complaint against any Merchant Establishment including financial services

or banks must be directly resolved by the Customer with the Merchant Establishment or

financial services company or bank. It is clarified that the Bank shall not be responsible or liable

for any deficiency in goods and/or services purchased using Airtel Money Services. This exclusion

of liability shall apply even for goods and/or services made available by the Bank under

promotional schemes. The Customer is instructed to satisfy themselves regarding the quality,

quantity and fitness of any good and/or service before purchasing the same.

10.2 Any amount transferred erroneously by the Customer to any Merchant Establishment

including financial services or bank account shall not be refunded to the Customer by

the Bank in any circumstances.

10.3 In the event of any dispute, the Bank records shall be binding as the conclusive evidence of

the transactions carried out through use of Airtel Money Services.

10.4 The Bank shall send all Customer communications by SMS and the SMS shall be deemed

to have been received by the Customer after they have been submitted for delivery to the

mobile phone operator. The Bank, at its own discretion, may also contact the Customer, for

all purposes necessary for providing & improving the Airtel Money Services and suggesting

any additional services.

10.5 The Customer agree to receive all commercial messages including transactional messages

from the Bank.

11. CHANGE OF TERMS

11.1 The Bank has the sole discretion to change, add / or delete these Terms and Conditions.

11.2 The Bank may modify, terminate and/or suspend Airtel Money Services to the Customer

anytime with or without prior notice, due to any changes in internal policies, rules, regulations

and laws set by relevant authorities/regulators.

11.3 Any amendment of these Terms and Conditions proposed by the Customer shall not be

effective unless it shall be reduced to writing through an amendment form and accepted by

the Bank. Amendments made under this clause shall be deemed to be a part of these

Terms and Conditions and in case of any contradiction the amendment form accepted by the

bank shall prevail.

11.4 Changed Terms and Conditions will be displayed on the Bank's website or sent through SMS,

USSD etc. This communication shall be valid and be considered as proper intimation. By

continuing to use the Airtel Money Service, the Customer will be deemed to have accepted

the changed Terms and Conditions.

12. SEVERABILITY

12.1 If any part of this Terms and Conditions is adjudged illegal or inoperable for any reason,

the same shall be severed from the remainder of the Terms and Conditions and only that

portion of this Terms and Conditions that is specifically adjudged illegal or inoperable shall

cease to govern the relationship between the Bank and the Customer.

13. JURISDICTION

13.1 The Courts at New Delhi shall have exclusive jurisdiction in respect of any dispute regarding

the use of Airtel Money Service including the interpretation and execution of this Terms and

Conditions or any other document executed by the Customer or the Bank with respect to

Airtel Money Service.

14. DECLARATION BY CUSTOMER

I (“the Customer”) agree that the opening and maintenance of the wallet Account is subject to

rules and regulations introduced or amended from time to time by the Reserve Bank of India. I

hereby certify that I have declared my status as per the rules applicable under section 285BA

of the Income Tax Act, 1961 as notified by Central Board of Direct Taxes (CBDT) vide

Notification No. S.O. 2155(E) dated 7 August 2015 and RBI Circular Ref No.

DBR.AML.BC.No.36/14.01.001/2015-16 dated 28 August 2015 in this regard. I understand and

acknowledge that as per the provisions of Income Tax Act, Rules made there under and the

guidelines issued by the RBI in the matter, depending upon the residential status and/or other

criteria stipulated therein, the Bank may have to report the details in respect of wallet

Account(s) as per the prescribed format to the Central Board of Direct Taxes (CBDT) or other

Government Agencies to comply with the obligations as per the Inter-Governmental

Agreements (IGA) in respect of Foreign Accounts Tax Compliance Act (FATCA) and Common

Reporting Standards (CRS) and or any other similar arrangements.

i) I hereby declare that I am a citizen and tax resident of the Republic of India and not of

any other foreign country. I also declare that my place of birth is in India.

ii) I certify that the information provided by me above as applicable to me by me as well

as in the documentary evidence provided by me are, to the best of my knowledge and

belief, true, correct and complete and that I have not withheld any material

information that may affect the assessment/categorization of my wallet Account as a

U S Reportable Account or Other Reportable Account or otherwise. I undertake the

responsibility to declare and disclose within 30 days from the date of change, any

changes that may take place in the information provided by me, as well as in the

documentary evidence provided by me or if any certification becomes incorrect and to

provide fresh and valid self- certification along with documentary evidence.

iii) I also agree that my failure to disclose any material fact known to me, now or in

future, may invalidate me from transacting in the wallet Account and the Bank would

be within its right to put restrictions with respect to the operations of my wallet

Account or close it or report to any regulator and/or any authority designated by the

Government of India (GOI) /RBI for the purpose or take any other action as may be

deemed appropriate by the Bank, under the guidelines issued by CBDT/RBI from time

to time, if the deficiency is not remedied by me within the stipulated period.

iv) I also agree to furnish and intimate to the Bank any other particulars that are called

upon me to provide on wallet Account of any change in law either in India or abroad

in the subject matter herein.

v) I agree to abide by the Bank's Terms and Conditions and rules in force and the

changes thereto in T&Cs from time to time relating to my Account as communicated

and made available on the Bank's website.

15. CONTACT INFORMATION

15.1 Call Center: For airtel Customers: 121/400; For Other operators: 8800688006 (standard calling

rates apply)

15.2 Email: wecare@airtelbank.com

15.3 Website: www.airtel.in/bank