Terms & Conditions
Terms & Conditions In Details
(PLEASE READ THESE TERMS & CONDITIONS CAREFULLY BEFORE SUBMITTING
APPLICATION)
Use of Modhumoti Bank PLC Internet-Banking Service is subject of the following
terms and conditions which set out the general rights and obligations of the
User(s) and Modhumoti Bank PLC in connection with the use of Modhumoti Bank
PLC Internet-Banking Services. For the purpose of this document,
"Internet-Banking Service" refers to the internet banking services provided by
Modhumoti Bank PLC through internet or e-commerce banking such as balance
enquiry, utility bill payment, fund transfer within the accounts of Modhumoti
Bank PLC services etc. or other services as may be made available by the
Modhumoti Bank PLC from time to time. "User", "he/she" and/or "his/her" means
Modhumoti Bank PLC's bank account holder(s) registered to use
Internet-Banking. "MMBPLC" means Modhumoti Bank PLC, a company duly
incorporated under the Companies Act 194 and a scheduled banking company
licensed under the Banking Companies Act, 191, having its Head Office at DCCI
building, 65-66,Motijheel C/A, Dhaka-1000, Bangladesh; and its branches or its
assigns in respect of which the service will be available.
1. APPLICATION FOR MMBPLC INTERNET BANKING:
1.1. The User shall apply to MMBPLC in the prescribed form for use of Internet
Banking Services subject to the terms and conditions stated herein including
any other terms and conditions as modified or inserted by MMBPLC from time to
time. MMBPLC at its sole discretion may accept or reject any such
applications. Once the application is accepted by MMBPLC, these Terms &
Conditions shall form the contract and govern the relationship between the
User and MMBPLC in relation to use of Internet Banking Services.
1.2. By applying for Internet Banking for the first time, the User
acknowledges and accepts these Terms &Conditions. Notwithstanding anything
contained herein, al Terms &Conditions pertaining to the accounts shall
continue to apply. In the event of any conflict between these Terms
&Conditions and the Rules and Regulations governing the User(s) account
with MMBPLC, these Terms and Conditions shall prevail with regard to MMBPLC
Internet Banking.
2. INTERNET BANKING USERS LOG IN ACCES, PASWORD & SECURITY PROCEDURES:
2.1 MMBPLC will provide the User with unique User Identification Number ("User
ID") and a temporary Password in the first instance through email. The User(s)
hereby authorizes and instructs MMBPLC to email him/her the User ID and
Password relating to his/her aces/log-in to the Internet Banking Services to
the email address given in the application at his/her own risk and
responsibility. The User shall not be liable for any non-delivery or
miss-delivery of User ID or Passwordunless such non- delivery or miss-delivery
is caused due to willful misconduct of the Bank.
2.2. The User shall log in to the internet banking by using the User ID and
Password. As a safety measure, the User shall immediately change Password upon
his/her first login. User is requested to change his/her Password frequently
thereafter to avoid any possible hacking, inherent risk or misuse/fraudulent
use of his/her account.
2.3. The User acknowledges that the Login ID (User ID) and the Password shall
act as User's authorized signature. This signature authorizes and validates
directions given just as an actual written signature does.
2.4. User is therefore responsible for maintaining the confidentially and
secrecy of User ID and Password. User should not under any circumstances
disclose his/her User ID and/or Password to anyone, including anyone claiming
to represent the Bank or to someone giving assistance on a technical helpdesk
in connection with the service. It is clearly understood that Bank employees
do not need password for any reason whatsoever. Bank shall not be held liable
in any manner or in any form whatsoever in case of any unauthorized or
fraudulent use of the User's account through Internet Banking Services or for
los, misplace or fraudulent use of the User ID and Password.
2.5. If User gives or shares his/her Password to anyone or fails to safeguard
its secrecy, he/she does so at his/her own risk because anyone with User
Password will have aces to his/her accounts.
2.6. If User forgets the Password, he/she has to request for issue of a new
password by sending a written request to MMBPLC.
2.7. If User's password is lost or stolen, or is known by another individual,
he/she must notify MMBPLC in writing immediately. MMBPLC upon receipt of
written request from the User shall at the earliest stop operation of the
Internet Banking Services of the respective User account. If Bank receives any
information orally or in writing from anyone including the User, Bank may
immediately suspend the services in god faith for the safety and security of
User.
2.8. The User agrees and acknowledges that MMBPLC shall in no way be held
responsible or liable if the User incurs any loss as a result of information
being disclosed by MMBPLC regarding his Account(s) or carrying the instruction
of the User pursuant to the aces of the Internet Banking and the User
shallfully indemnify and hold harmless MMBPLC in respect of the same.
2.9. User hereby acknowledges and understands the inherent risk of using
Internet and availing the Internet Banking Services and accordingly shall take
all necessary precautions at his/her end to safeguard himself/herself from
such risk. Bank shall not be held liable in any form whatsoever if the User
suffers any loss or damages due to such inherent risk of internet and Internet
Banking Services unless such loss or damage is caused due to willful
negligence of the Bank.
3. SERVICE SOFTWARE & HARDWARE REQUIREMENTS:
3.1. User is solely responsible for the maintenance, installations and
operation of User's computer and for the software used in accessing Internet
Banking.
3.2. MMBPLC shall not be responsible if the Internet Banking System does not
work properly or the service is interrupted due to failure of electronic or
mechanical equipment or communication lines, telephone or other interconnect
problems, normal maintenance, unauthorized aces, theft, operator errors,
severe weather, earthquakes, floods and strikes, or any other causes beyond
the reasonable control of the Bank.
4. CHARGES:
4.1. Modhumoti Digital Banking Services Annual fees for Tk.250/- each for
Internet Banking and SMS alert.
4.2. VAT & AIT, if any, would be charged as per Govt. Rules from time to
time.
5. UNAUTHORIZED/ FRAUDULENT ACTIVITIES:
5.1. Upon obtaining User ID and Password, User is requested to check the list
of his/her accounts with MMBPLC. If any of User account is missing, please
inform this to MMBPLC immediately. If a third party account is linked to
User's ID, please inform this to MMBPLC also. Do not ace it or do not perform
any transaction on that account. Such activity, if done, will be treated as
fraudulent activity.
5.2. If User believes unauthorized transactions are being made with his/her
account, he/she should change the Password immediately and notify the
MMBPLC.
5.3. The User should check the Statements for all of his/her accounts for any
unauthorized transaction. In case of any discrepancy in details of any
transactions carried out in respect of the account, in that event User should
immediately inform MMBPLC in writing.
5.4. Bank's only responsibility would be to use its best efforts to prevent
such unauthorized transaction if already not been made.
6. ON-LINE FUND TRANSFER:
6.1. The user shall be responsible for all ''fund transfer'' transactions.
Fund Transfer can be made from the User account to his another account or
another customer account maintained held with MMBPLC. Fund transfer also can
be made to the account maintained with another Bank.
7. UTILITY/CREDIT CARD BILL PAYMENT
7.1. The utility bill Payment services is only available to Users of the
MMBPLC Internet Banking Service and shall cover all the utility bill payments
of different utility service provider(s) (Billers) as mutually agreed between
MMBPLC and the utility service provider(s).
7.2. The User should accept that he/she will be responsible for putting in the
correct account number and transaction amount for the fund transfer request.
In such case, MMBPLC will not be liable for any erroneous transactions
incurred arising out of or relating to the User entering wrong account number
and amount.
7.3. Upon MMBPLC decision, there will be a transaction amount limit through
internet banking. Maximum amount of transaction limit can be subject to change
from time to time at MMBPLC's discretion.
7.4. Any transaction made after working hours or on public/bank holidays, the
transaction value date will be the next working day.
7.5. No transaction is allowed from a non-convertible taka account or a
convertible account.
7.6. In addition to the terms and conditions stated above, the existing policy
of the Bank (including amendments from time to time) regarding
billCollectionshall also be applicable for bill collection so far it does not
contradict with the provisions stated herein. The policy of the
billCollectionshall be available from the branches of the Bank.
7.7. Payment amount must be accurate as per the bill. Any les payment or
higher payment is the sole responsibility of the User and the Bank shall not
held liable for any loses, damages or disconnection of utility services due to
payment of les amount or whatsoever.
7.8. This agreement does not bind MMBPLC as an agent of Utility agency. MMBPLC
shall not be held responsible for disconnection of the utility service for any
reason by the utility service provider.
8. MAINTENANCE OF SUFFICIENT FUND:
8.1. The User shall ensure that here are sufficient funds (or prearranged
credit facilities) in his/her account for transactions through the Internet
Banking. Al instructions of the User shall be carried out subject to
sufficient fund in the respective accounts. MMBPLC shall not be liable for any
consequences arising out of its failure to carry out the instructions due to
inadequacy of ends.
9. ANTI MONEY LAUNDERING:
9.1. User should agree and confirm that he/she will not use this Internet
Banking facility for money laundering, illegal, unlawful purpose.
9.2. User shall fully comply with the laws related to the money laundering and
shall not use the Internet Banking services for any anti-terrorism or
anti-state activate.
9.3. MMBPLC reserves the right to demand explanation from the User regarding
any mater pertaining to money laundering and anti-terrorism law of the
country.
10. PROPRIETARY RIGHTS:
10.1. The User acknowledges that the software underlying the Internet Banking
as well as other Internet-related software which are required for accessing
Internet Banking are the legal property of the respective vendors or MMBPLC as
the case may be.
10.2. The permission given by MMBPLC to aces Internet Banking will not convey
any proprietary or ownership rights in such software. User shall not attempt
to modify, translate, disassemble, decompile or reverse engineer the software
underlying Internet Banking or create any derivative product based on the
software.
10.3. User shall keep all information whether of the User, MMBPLC or any other
third party/customer derived from the Internet-Banking Services strictly
confidential and shall not disclose to any third party without prior written
consent of MMBPLC.
11. GOVERNING LAW:
11.1. These Terms and/or the operations in the Accounts of the User shall be
governed by the Laws of Bangladesh, in force.
11.2. MMBPLC may, in its absolute discretion, commence any legal action or
proceedings arising out of breach or violation of any of the Terms for
Internet Banking in any other court, tribunal or other appropriate forum
irrespective of the place from where the User aces the Internet Banking
Services, and the User hereby consents to that jurisdiction.
11.3. Any provision of the Terms for Internet Banking which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of prohibition or unenforceability but shall not
invalidate the remaining provisions of the Terms or affect such provision in
any other jurisdiction.
12. CHANGES OF TERMS:
12.1. MMBPLC shall have the absolute discretion to amend or supplement any of
the Terms at any time and will attempt to give prior notice of fifteen days
for such changes wherever feasible. Such change to the Terms shall be
communicated to the User. By using any new services as may be introduced by
MMBPLC, the User shall be deemed to have accepted the changed Terms.
13. TERMINATION ON INTERNET BANKING:
13.1. The User may request for termination of the Internet Banking any time by
giving a written notice of at least 15 days to MMBPLC. The termination shall
take effect on the completion of the fifteenth day. However, the User shall
always be held liable for all accrued obligation or instruction given before
or on the effective date of termination.
14. BREACH OF TERM & CONDITIONS:
14.1. User must compensate for any loss that occurs as a result of his/her
breaking any term of these agreements.
PRECAUTIONARY NOTE:
In order to prevent unauthorized transaction through Internet Banking Service,
Users are advised to strictly maintain the following:
1. The User ID and Password should not be written anywhere accessible to the
third party including his/her family members.
2. User should make sure that no one is physically watching his/her passwords
when he/she is Logging in.
3. It is important to remember to click 'Log out' after completing his/her
Internet Banking session.
4. User should not leave his/her PC unattended with the browser running and a
valid user name and Password.