Fair Practise Code

BANKS’ FAIR PRACTICE CODE FOR DEBIT CARD OPERATIONS

1. About this code

1.1 This is a voluntary Code. The purpose of this Code is to have a benchmark service standard in our dealings while issuing and dealing in Debit Cards and will guide our staff in dealing with our customers. The code is expected to help the Debit Card holder customers in knowing their rights and also measures they should take to protect their interests. We propose to place this code on our web site and make copies available to our customers on demand.

1.2 Though a voluntary document, adoption of this Code is expected to promote customer confidence in our Debit Card product/s and bring about better understanding between the Bank and its Customers and thereby encourage achievement of higher operating/service standards to benefit our customers.

1.3 For the sake of brevity and clarity, in this Code:

      a) "Debit Card" shall mean and denote the Debit Card Issued by the Karnataka Bank Ltd either independently or in association with any other issuers like Visa International etc.

      b) “We" "us" "our" "Bank" shall mean and denote the Karnataka Bank Ltd;

      c) "You" shall mean and denote the Customer/s of the Karnataka Bank Ltd. who hold or have applied for Karnataka Bank's Debit Card

      d) "Code" means and shall denote "The Fair Practice Code for Debit Card Operations" - being these covenants;

      e) "Tariff" / "Charges" / "Fee/s" / "Interest" or "Commission" shall mean and denote only those

Tariff/Charges/Fee/s/Interest or Commission prescribed by the Karnataka Bank Ltd. and it will be independent of and will not include the Tariff/Charges/Fee/s whatsoever that may be charged or levied by other Acquirer Host for using their site/network and which charges will be passed on to our customers in addition to our charges. All such charges will be levied and debited to the account of the Debit Card Holder Customer's account.

1.4 The standards of the Code shall be governed by the four key commitments detailed in section 2 written hereunder.

1.5 Unless stated otherwise, all parts of this Code apply to all the Debit card products and services, whether we provide them across the counter, over the phone, on the internet or by any other method.

1.6 Commitments outlined in this Code are applicable under normal operating environment. In the event of force majeure, (i.e. under circumstances beyond our control) we may not be able to fulfill the commitments detailed under this Code.

2. Key commitments

We promise to:

2.1 Act fairly and reasonably in all our dealings with you by:

·          meeting the commitments and standards in this Code, for the products and services we offer, and in the procedures and practices our staff/ agents follow

·          making sure our products and services meet relevant laws and regulations

·          ensuring that our dealings with you will rest on principles of integrity and transparency

·          not engaging in any unlawful or unethical consumer practice.

2.2 Help you to understand how our Debit card products and services work by giving you the following information in a simple language:

·          what are the benefits to you

·          how you can avail of the benefits

·          what are their financial implications

·          whom you can contact for addressing your queries and how

2.3 Deal quickly and effectively with your queries and complaints by:

·          offering channels for you to route your queries

·          listening to you patiently

·          accepting our mistakes, if any

·          correcting mistakes / implementing changes to address your queries

·          communicating our response to you promptly

·          telling you how to take your complaint forward if you are not satisfied with the response

2.4 Publicize this code, by making it available for public access on our website and make copies available for you on request.

3. Information (To help you to choose products and services, which meet your needs)

3.1 Before you become a Debit card customer, we will:

·          give you information explaining the key features of our Debit card products including applicable fees and charges

·          advise you what information / documentation we need from you to enable us to issue Debit card to you. We will also, advise you what documentation we need from you with respect to your identity, address, employment etc., and any other document that may be stipulated by statutory authorities (e.g. PAN details), in order to comply with legal and regulatory requirements.

·          While you apply for Debit card, we will explain the relevant terms and conditions such as fees and charges, renewal and termination procedures and any other information that you may require with regards to the Debit Card/s and its operations.

3.2 We will advise you of the turn around time that may be required by us to respond to you while you are availing/applying for a service.

3.3 We will make available to you a service guide/brochure/booklet giving detailed terms and conditions, fees and charges applicable and other relevant information with respect to the usage of your Debit card along with your first Debit card.

3.4 We will advise you our contact details such as contact telephone numbers, postal address, website, e-mail address to enable you to contact us whenever you need to.

3.5 If you do not recognize a transaction which appears on your Bank account statement on account of usage of Debit card, we will try to provide you more details on such transaction, if you ask us. However, we may need you to give us confirmation or evidence that you have not authorized such a transaction.

3.6 We will inform you, through our service guide/brochure/booklet of the losses on your account that you may be liable if your card is lost / misused.

4. Tariff (Fees/Charges etc.)

4.1 You may ascertain our charges/fee etc. by:

·          Referring to the service guide / booklet / Branch Notice Board

·          Calling up on customer service numbers

·          Visiting our website; or

·          Asking our designated staff

4.2 When you become our Debit Card holder customer, and if you apply for and if you are sanctioned with our "K-power" overdrawing facility, we will provide you information on the "K-Power" facility and the maximum extent to which you may overdraw your account, how and when you have to repay or regularize such over drawings and the interest rates applicable on your over drawings and we will charge the same interest for over drawings in your account.

4.3 If you ask us, we will also explain how we apply interest to you account

Changes in our tariff

4.4 When we change/revise our tariff on our Debit card products, we will update the information on our telephone help-line/website.

4.5 As regards the charges/fees etc. of any of acquirer host for using their network, we expect you to independently enquire and ascertain, from time to time, the Charges/Fee/s etc. whatsoever that may be charged or levied by other Acquirer Host on your using their network. However, we also will try to update you on such charges.

5. Marketing Ethics

5.1 Field Personnel

Debit Cards are normally issued by us through our staff working at respective Branches. However, in case we engage any sales/marketing representatives such representatives will identify themselves when they approach you for selling our card products. In the event of receipt of any compliant from you that our representative/s has/have engaged in any improper conduct, we shall take appropriate steps to redress your compliant.

5.2 Telemarketing

If our staff / agents contact you over phone for selling any of our Debit card products or with any cross sell offer, the caller will identify himself / herself and advise you that he / she is calling on our behalf. Please note that such phone calls, if any, will be restricted to provide you products information or to convey you more about ourselves and we request you not to divulge or converse on any confidential information related to your account and Debit Card.

6. Issuance of Debit Card/PIN

6.1 Our Debit Cards are delivered to you personally by our Officials at the branch where you have submitted your application for the Debit Card. Officials from our branch which maintains your account and where you have submitted application for Debit Card may also visit your place at the address provided by you and deliver the Debit Card to you.

6.2 Debit Cards are issued in deactivated (not ready to use) mode and after issuing the Debit Card to you the card needs to be activated in the system which will be done within a reasonable time. You can start using the Debit Card only after the Card is activated.

6.3 We expect you to read the User Manuals and strictly follow all the safety measures required to be followed by you as regards safety of the Debit Card and security aspect regarding its operation.

7. Account Operations

Debit card statements

7.1 All your purchases and cash withdrawals using the Debit Card will be debited to your account instantly and your Bank account statement/pass book will contain all your transactions using the Debit Card. However, on some very rare occasions due to certain exceptional delayed responses owing to switch or connectivity related problems, debits representing your transactions using the Debit Card may not occur instantly but with some delay. We advise you to obtain your Bank account statements/pass books at regular intervals and peruse the same. As and when we launch Internet Banking facility, you may also avail of the same and you may access your account online and, inter alia, check details of your purchases / cash drawings using the Debit card.

7.2 We will let you know / notify changes in schedule of fees and charges and terms and conditions through our web site and/or displaying it on the Notice Boards at our Branches. Normally, changes (other than interest rates and those which are a result of regulatory requirements) will be made with prospective effect giving notice of at least 15 days.

Protecting your Debit Card/account

7.3 We will advise you what you can do to protect your Debit card from misuse. This information is normally available in the 'User Manual'.

7.4 In the event your Debit card being lost or stolen, we will, on your duly notifying us, take immediate steps and try to deactivate the card to prevent it from being misused, subject to operating regulations and laws in force.

Processing activities at our end

7.5 We may allow processing of Debit cards related activities including operations and cross selling to third party agencies that we consider appropriate for these purposes.

8. Confidentiality of Account Details

8.1 We will treat all your personal information as private and confidential. We will not reveal transaction details of your accounts to any third party, including other entities, if any, in our group, except in the following four exceptional circumstances;

·          if we have to give the information by law

·          if there is a duty towards the public to reveal the information

·          if our interests require us to give the information (for example, to prevent fraud) but we will not use this as a reason for giving information about you or your accounts (including your name and address) to anyone else, including any other companies, if any, in our group, for marketing purposes.

·          if you ask us to reveal the information, or if we have your permission to provide such information to our group/associate/entities or companies when we have tie-up arrangements for providing other financial service products.

9. Redressal of Grievances

10.1 Redressal of your complaints internally

We have our 'Customer Care Centre' at Bangalore with a toll free telephone line. You will seek redressal of your grievances, if any, first from our Customer Care Centre. If you are not happy about the outcome, you are requested to post your suggestion/complaint to our Deputy General Manager, P&D, Head Office,

Mahaveera Circle

, Mangaluru - 575002.

10.2 Banking Ombudsman Services

If you do not get a satisfactory response from us within 60 days of lodging a compliant, and you wish to pursue other avenues for redressal of your grievances, you may approach Banking Ombudsman appointed by Reserve Bank of India under Banking Ombudsman Scheme 2002.

11. Termination of Debit Card

11.1 You may terminate your Debit card by giving notice to us and by following the procedure laid down by us in our service guide / member booklet after clearing outstanding dues, if any.

11.2 We may terminate your Debit card, if in our opinion; you are in breach of the Cardholder Agreement.

12. Feedback and Suggestions

Please help us to serve you better by providing feedback on our services. Your suggestions will help us to improve our services.