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 vide the permission granted by
Reserve Bank of India (‘RBI’). Bank issues Airtel Money Account as part of its
Services.
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
(c) Instructions issued by the RBI from time to time in respect of the same.
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, website 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 Power Account can transfer funds from an Airtel Money Power
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 Power Account) can transfer funds from an Airtel Money Power
Account to a savings 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 who have been authorized by the Bank to accept payment for
goods or services or financial 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 “Registration Form” shall mean the digital 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.
1.14 "Power Account" shall mean an Airtel Money Account classified as semi-
closed system payment instrument issued by the Bank by accepting full KYC
details prescribed vide RBI master directions and approved under the PML
Rules 2005, as amended from time to time.
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 authorization 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
accounts 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 financial services or
Domestic Money Transfers or payment for purchase of goods or services at all
identified Merchant Establishments.
1.18 “Fund” means ‘The Depositor Education and Awareness Fund’ established
by the Reserve Bank of India under the provisions of the Banking Regulation Act,
1949.
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. This
information can also be shared with third parties and used for promotional and
analytical purposes.
3.3 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
required KYC details by the Customer either at the time of registration or at a later
date when the same are verified and approved by the Bank after following the due
process.
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).
4.7 The maximum monetary value that can be stored in a month in an
Express Account is INR 9,000/- (Rupees Nine Thousand Only)
4.8 The maximum monetary value that can be transferred under Domestic Money
Transfer for any walk in customer 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, 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’s Airtel Money Power Account must be utilized
within the validity period of 365 days from the date of last transaction or from the
date of activation of the Airtel Money Power Account; whichever is later
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), KYC
details or Registration 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;
(c) If the same is due to technical failure, modification, upgradation, variation,
relocation, repair, 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 provide
additional KYC details 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 maintaining more than one PPI issued by Airtel Payments
Bank shall be subjected to overall limits of Rs. 10000 and/or Rs. 1 lakh as the case
may be.
4.17 Cash loading on your Airtel Money wallet using credit cards will be charged
@1.5% of the amount loaded.
4.18 The validity of an express account is one year.
4.19 The amount to the credit of any Account in India with the Bank which has not
been operated upon for a period of ten years or any deposit or any amount
remaining unclaimed for more than ten years shall be credited to the Fund, within a
period of three months from the expiry of the said period of ten years. The Fund
shall be utilized for promotion of depositors’ interest and for such other purposes
which may be necessary for the promotion of depositors’ interests as specified by
RBI from time to time. The depositor would, however, be entitled to claim from
the Bank her deposit or any other unclaimed amount or operate her account after
the expiry of ten years, even after such amount has been transferred to the Fund.
The Bank would be liable to pay the amount to the depositor/claimant and claim
refund of such amount from the Fund.

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/wallet) 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. Bank's responsibility is limited to debiting of the Airtel Money
Account and subsequent payment to any Merchant Establishment including
financial services or transfers to the Bank. 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 Airtel 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 Airtel Money Services for financial services or
Transactions with the approved Merchant Establishment and Bank.
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 The Customer acknowledges and understands 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 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 Customers 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 any telecom service
provider including 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 or
financial services company 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 or for any financial services company or to a 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 agrees to receive all commercial messages including
transactional messages from the Bank.
10.6 By agreeing to the Terms and Conditions, user agrees that the details mentioned
in the KYC are to be considered as final details for Power Account
10.7 The customer agrees to the Terms and Conditions and allows Airtel Payments
Bank to open a min. KYC wallet by accepting the Aadhaar number provided by
him/her

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 these 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: [email protected]
15.3 Website:
www.airtel.in/bank