Definitions

In this document the following words and phrases shall have the meanings as set below unless the context indicates otherwise:

1. "Bank" or "MBL" refers to Machhapuchchhre Bank Limited, a limited company incorporated and licensed as a bank under the prevailing law of the Nepal having its registered office at Lazimpat 2, Kathmandu. The term also includes all the branches and other service points of the bank.
2. "Customer" refers to a customer of Bank and/or of the Affiliates authorized to use Internet Banking. An organization can have corporate menu enabled in Internet Banking account. It is called Corporate Internet Banking Account. The Bank creates a Corporate Administrator, who is responsible for creation of additional user accounts and user menu management for this Corporate Internet Banking account. The customer also includes the Corporate Administrator and all Internet Banking users created by this Corporate Administrator. These users include Corporate Transaction Creators, Corporate Transaction Verifiers, and Corporate Normal users.
3. “User” refers to a natural person authorized by customer to use Internet Banking by these Terms.
4. "Person" refers a natural person, a sole proprietorship firm, a partnership firm, a non-profit organization, and a body incorporated under the prevailing Nepalese law with its own separate legal entity.
5. "Account(s)" refers to the customer's bank account or credit card account or home loan account or automobile loan account or consumer durable loan account or depository account and/or any other type of account (each account hereafter referred to as an "Account" and collectively as "Accounts"), maintained with the Bank through the use of internet Banking.
6. "Internet Banking" refers to the internet banking service offered by MBL to the User including services such as enquiry about balance in the Account, details about transactions in the Account(s), statement of Account, transfer of funds, bill payment and any other service as MBL may decide to provide from time to time through internet. The availability/non-availability of a particular service shall be communicated to the User through email, official websites of bank or in writing as may be deemed fit by Bank. Such Internet Banking may be provided by MBL directly or through its associates or contracted service providers.
7. "Payer" refers to the person who holds the Debit Account.
8. "Payee" refers to the person to whom customer will transfer Fund(s).
9. "Personal Information" refers to the information provided by the customer to the Bank.
10. "Payee Registration Confirmation" refers to confirmation of Payee Registration to whom User will transfer Fund(s).
11. "Website" refers to the website owned, established and maintained by the Bank located at the URL www.machbank.com or www.machbank.com.np

Formation of the contract

• The terms and conditions mentioned in this document together with the application submitted by the customer and as accepted by the Bank shall form the contract between the customer and the Bank for internet Banking service. For availing of Internet Banking, the user acknowledges and accepts terms and conditions stipulated here and application form.
• The customer desirous of using the Internet banking should be the account holder and sole signatory or be authorized to act independently. In case of Corporate Internet Banking, the internet banking user shall be authorized natural persons designated by an organization. Such designated user defined role Corporate Transaction Creator, Corporate Transaction Verifier, or Corporate Normal User, can access internet banking and perform financial and non-financial transactions.
• In case of Joint Accounts, where the mode of operation is anyone, all or any transactions arising from the use of Internet Banking in the joint account shall be binding on all the joint account holders, jointly and severally. However, any account, where the mode of operation is joint, is not eligible for the Internet Banking. All the transactions arising through the use of the Internet Banking to operate a joint account shall be binding on all the joint account holders, jointly and severally.

Scope of Service

• The Bank reserves the right to determine and change from time to time the scope and type of the services to be made available including, without limitation, expanding, modifying or reducing the services at any time.

General Terms & Conditions

• The Bank would provide the customer with an Internet Banking customer-id and a set of secret passwords in the first instance then customer will be required to change such password. As a safety measure, the customer shall change the password as frequently thereafter as possible. In addition to customer-id and password the Bank may, at its discretion, advise the customer to adopt such other means of authentication such as digital certification and/ or smart cards.
• The Customer shall not use or knowingly allow any other person to use the services, with any illegal purpose or activity. The Customer shall notify the Bank immediately if he/she becomes aware of such use. Bank will not be liable for any of the transactions allegedly performed by any third party.
• The Customer acknowledges that there may be a time lag in transmission of instructions, information or communication via the Internet/Mobile Network for which the Bank shall not be held liable.
• The customer unconditionally undertakes to have internet Banking, passwords of such number of letters / digits as may be notified by the bank from time to time and ensure that the same is kept confidential and do not let any unauthorized person have access to the internet while the customer is accessing the Internet Banking.
• The Customer shall act in good faith; exercise utmost care and diligence in keeping the User Name, Password and OTP code secret. At no time and under no circumstances shall the Customer disclose the User Name, the Password and OTP Code to any other person including bank official. Should the customer do so, the Bank shall not be liable for any transaction and/ or financial loss that may occur to the Customer.
• The Customer shall be fully responsible for any accidental / negligent and/or unauthorized disclosure of the User Name, the Password/OTP Code to any other person and shall bear the risks of the User Name, the Password/OTP Code being used by unauthorized persons or for unauthorized purpose or transactions.
• The customer accepts that he/she will be responsible for keying in the correct account number for the fund transfer request. In no case, the Bank will be held liable for any erroneous transactions incurred arising out of or relating to the customer entering wrong account numbers. The Bank shall specify from time to time the transaction limit, velocity for carrying out various kinds of funds transfer or any other services through Internet Banking.
• The Bank will only act on an instruction in so far as it is in the Bank’s opinion practicable and reasonable to do so and in accordance with its regular business practices and procedures.
• The Bank will provide online/electronic advice or confirmation that an instruction has been received and/or a transaction has been effected through the services. Such advice or confirmation shall be deemed to have been received by the Customer immediately after transmission and it is the duty of the Customer to check such advice or confirmation. It is also the duty of the Customer to enquire with the Bank, if the Customer does not receive an advice or confirmation within the time usually required for a similar advice or confirmation to be received.
• Information relating to any account or transaction made available on the Internet Site(s)/ SMS/ Receipt is for reference only. The Bank’s records of such account and transaction shall be conclusive unless and until the contrary is established.
• The Bank shall not be liable for any mobile/computer/cybercrimes such as hacking etc. and shall not be liable for any unauthorized transactions and/or any transactions carried out by using illegal and fraudulent methods at the customer end. The Bank will initiate security mechanism at the Bank end to secure its services.
• The Bank reserves the right to charge subscription/renewal fees/transaction charge in relation to the transaction initiation/subscription/renewal and/or termination of the Services and to revise such fees at any time with or without giving prior notice to the Customer. Once subscribed to the services, the charges applied shall not have any relation to the frequency of use by the customer. All applicable fees and charges shall be published in official website of bank.
• The following clause will be adhered to for e-Banking while generating and providing passwords to the customers.

Instructions

• The customer irrevocably and unconditionally authorizes the Bank to access all his Account(s) for effecting banking or other transactions performed by the customer through the Internet Banking. The instructions of the customer shall be effected only when such instruction is in accordance with the prescribed procedure.
• The Bank shall have no obligation to verify the authenticity of any transaction / instruction received or purported to have been received from the user through Internet Banking or purporting to have been sent by the customer other than by means of verification of the Internet Banking customer-Id and the password.
• The Bank shall not be required to independently verify the instructions, and the instruction shall remain effective till such time the same is countermanded by further instructions by the customer. The Bank shall have no liability if it does not or is unable to stop or prevent the implementation of an instruction which is subsequently countermanded.
• Any instruction given in connection with the Services by quoting the User Name and the Password of the Customer, once given, may not be rescinded or withdrawn without the consent of the Bank. All such instructions given by the Bank in good faith shall be irrevocable and binding on the Customer.
• The Bank may refuse to comply with the instructions without assigning any reason and shall not be under any duty to assess the prudence or otherwise of any instruction and have the right to suspend the operations through the Internet Banking if it has reason to believe that the customer's instructions will lead or expose to direct or indirect loss or may require an indemnity from the user before continuing to operate the Internet Banking. Any instruction, order, direction, request entered using the password of the customer shall be deemed to be an instruction, order, directive, request received from the customer.

Disclosure Of Information

• The Bank is authorized to share the information with any other person/entity, including its third party agents, as and when necessary according to the existing laws, NRB directives, etc.
• The customer agrees that the Bank may hold and process his personal Information and all other information concerning his Account(s) on computer or otherwise in connection with the Internet Banking as well as for analysis, credit scoring and marketing. The customer also agrees that the Bank may disclose, in strict confidence, to other institutions, such personal Information as may be reasonably necessary for reasons inclusive of but not limited to participation in any telecommunication or electronic clearing network, in compliance with a legal directive, for credit rating by recognized credit scoring agencies, or for fraud prevention purposes.

Termination of Service

• The Bank may, at any time, without giving notice or reasons suspend or terminate all or any of the Services or their use by the Customer.
• The Customer may terminate the use of the Services at any time by giving 7-day prior notice to the Bank in writing. The customer will remain responsible for any transactions made through the Internet Banking until the time of such termination.
• The Services shall deemed to cease/suspended and the Bank shall be entitled to the immediate restriction of the User in the event of
  • Closure of Designated Account (s)
  • Death of a User
  • Bankruptcy or any legal decree
  • The User (s) authority to operate the Designated Account is terminated
  • The User(s) ceases to be a Customer of the Bank
  • The customer requests to stop the use provided Facilities
  • Customer is blacklisted.
  • Customer fails to maintain the minimum balance as stipulated.
  • As advised any Law enforcement agencies or court.

Communication

• The Bank shall have the absolute discretion to amend or supplement these Terms and Conditions at any time and from time to time with or without notice to the Customer and shall be binding on the Customer if the Customer continues to maintain or use the Services on or after the effective date of variation.
• Communications delivered personally, sent by post, facsimile transmission, Telex, SMS or email by the Bank at the last known address, Mobile Number of the Customer shall constitute actual delivery of such communication to the Customer. Communication sent by the Customer to the Bank shall be treated as delivered to the Bank on the day of actual receipt.

Legality & Applicability

• Each of the provisions of these Terms and Conditions is several and distinct from the others and, if at any time one or more of such provisions is or becomes illegal, invalid or unenforceable in any respect under the laws of any jurisdiction, the legality, validity, enforceability of the remaining provisions shall not be affected in any way.
• The Bank and the customer agrees that if the customer opens further Accounts with/subscribes to any of the products/services of the Bank, and the Bank extends the Internet Banking to such Accounts or products or services and the customer opts for use thereof, then the Terms shall automatically apply to such further use of the Internet Banking by the user.
• Unless the context otherwise requires, a personal includes an individual, firm, company, corporation and an unincorporated body of persons. These Terms and Conditions will stand amended if law, government regulations or instructions issued by the Nepal Rastra Bank, necessitate such amendments.
• The Services and these Terms and Conditions shall be governed by and construed in accordance with the laws of Nepal and the Bank and the Customer submit to the nonexclusive jurisdiction of the Courts of Nepal.

Compliant

• All grievances and complaints should be communicated to Customer Service Desk at the branches of the Branches or call be made to Call Centre. Customer Service Desk/Call Centre will then address or escalate the issue as required. Any disputes that may arise will be handled as per the Bank’s Policy. The decision of the Bank will be final.

Disclaimer

• The customer expressly agrees that use of the Website is at its sole risk. The Website is provided on an "as is" and "as available" basis. Except as warranted in the Terms, the Bank 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 Internet Banking. The Bank does not warrant that access to the Website and Internet Banking shall be uninterrupted, timely, secure, or error free nor does it make any warranty as to the results that may be obtained from the Website or use, accuracy or reliability of Internet Banking. The Bank will not be liable for any virus that may enter the user's system as a result of the customer using Internet Banking. The Bank does not guarantee to the customer or any other third party that Internet Banking would be virus/malware or any malicious file free
• The Bank shall not be liable for any loss or damage sustained by customers or users, by reason of any failure in or breakdown of The Bank’s facilities, or third parties associated with providing the service under this Agreement, or for any interruption or degradation of the service whatsoever be the duration or the cause of such failure, breakdown, interruption or degradation of the service.

Indemnity

• The Customer agrees to indemnify and keep safe, harmless and indemnify the Bank from and against all actions, claims, demands, proceedings, loss, damages, costs, charges and expenses whatsoever the Bank may incur, sustain, suffer or be put to at any time as a consequence of acting on or omitting or refusing to act on any instructions given by use of the services. The Customer holds the Bank, harmless against any loss incurred by the Customer due to failure to provide the Services or any delay in providing the services due to any failure or discrepancy on part of the third party provider.
• Further, the customer agrees, at its own expense, to indemnify, defend and hold harmless the Bank, its officers employees, agents, against any claim, suit, action or other proceeding brought against the Bank, its officers and employees, agents, by a third party, to the extent that such claim, suit, action of other proceeding brought against the Bank, officers and employees, agents, is based on or arises in connection with the user of Internet Banking with reference to: A violation of the Terms contained herein by the customer.
  • Any deletions, additions, insertions or alterations to, or any unauthorized use of, Internet Banking by the customer.
  • Any misrepresentation or breach of representation or warranty made by the user contained herein; or any breach of any covenant or obligation to be performed by the customer hereunder. The user agrees to pay any and all costs, damages and expenses, including, but not limited to, reasonable attorneys' fees and costs awarded against it or otherwise incurred by or in connection with or arising from any such claim, suit, and action or proceeding attributable to any such claim.
• The customer hereby agrees that under no circumstances, the Bank's aggregate liability for claims relating to Internet Banking, whether for breach of in tort (including but not limited to negligence) shall be limited to the transaction charges/fees or consideration paid by the user within the previous twelve (12) months for Internet Banking, excluding any amount paid towards transactions