Terms and Conditions for Power Transfer – NEFT Online
Axis bank Limited (AXISB) does not give any guarantee or make a warranty and makes no representation about any superior quality attached to the AXISB Power Transfer Facility. This is a facility provided by AXISB for transfer of funds in good faith on the presumption that it will work if the parameters are met. The customer agrees and acknowledges that AXISB shall not be liable and shall in no way be held responsible for any damages whatsoever, whether such damages are direct, indirect, incidental or consequential and irrespective of whether any claim is based on loss of revenue, interruption of business due to the failure of any transaction carried out by the customer and processed by AXISB, information provided or disclosed by AXISB regarding customer’s Accounts or any loss of any character or nature whatsoever, and whether sustained by the customer or by any other person. However AXISB shall endeavor to execute and process the transactions as proposed to be made by the customer promptly but shall not be responsible for any lack of response or delay in responding owing to any reason whatsoever, including owing to failure of operational systems or any requirement of law.
Not withstanding the above, illegal or improper use of the AXISB Power Transfer Facility shall render the Customer liable for payment of pecuniary charges or penalties which AXISB may at its sole discretion decide or may result in suspension of the AXISB Power Transfer Facility to the Customer. The Customer hereby also agrees to fully indemnify and hold AXISB and its subsidiaries and affiliates harmless against any suit, proceeding initiated against it or any loss, cost or damage incurred by it as a result thereof.
Neither AXISB nor its subsidiaries or affiliates shall be liable for any unauthorized persons accessing the records and / or Accounts/ information through the use of AXISB Power Transfer Facility through any means including phising and/or hacking and the Customer hereby fully indemnifies and holds AXISB and its subsidiaries and affiliates harmless against any action, suit, proceeding initiated against it or any loss, cost or damage incurred by it as a result thereof. AXISB shall under no circumstance, be held liable to the customer if the AXISB Power Transfer Facility is not available in the desired manner for reasons owing to force majeure circumstances or any other reason beyond the control of AXISB.
All the records (including electronic) of AXISB generated by the transactions arising out of the use of the AXISB Power Transfer Facility, including the time the transaction recorded shall be conclusive proof of the genuineness and accuracy of the transaction. For the protection of both the parties, and as a tool to correct misunderstandings, the customer understands, agrees and authorizes AXISB, at its discretion, and without further prior notice to the Customer, to monitor and record any or all telephone conversations (if any) between the Customer and AXISB and any of its employees or agents or instruction provided by the Customer to AXISB.
AXISB expressly disclaims all warranties of any kind, whether express or implied or statutory, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose, data accuracy and completeness, and any warranties relating to non-infringement in the AXISB Power Transfer Facility..
NEFT transactions will be charged as per the following criteria:
1]On Saving accounts – The following charges would be debited (i) a charge of Rs. 2.50/- (+Taxes) per transaction for transactions upto Rs.10000/- (ii) a charge of Rs.5 /- (+Taxes) per transaction for transactions greater than Rs.10000/-
2]On Current accounts – NEFT charges as per charge schedule would be levied on an upfront basis.
3]On CC/OD accounts – Upfront charges based on the transaction amount would be levied (as prescribed by RBI).
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