Terms of Service MyMoney
The objective of these Terms of Use (“Terms”) is to inform You (defined below) of the terms which apply to Your access/use of the MyMoney Platform (defined below), what we expect of You and what You can expect from Us as You use and interact with the MyMoney Platform provided by Us.
The MyMoney Platform enables merchants and businesses to leverage technology to manage their payments and collections, banking, accounting, and business finances under a unified dashboard.
These Terms are an electronic record in terms of the Information Technology Act, 2000 and rules thereunder as applicable and as amended from time to time. This electronic record is generated by a computer system and does not require any physical or digital signatures. These Terms are published in accordance with the provisions of Rule 3(1)(a) of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 framed under the Information Technology Act, 2000 (as amended from time to time), that mandates publishing the terms of use for access or usage of the MyMoney Platform and Services (defined below) and they constitute a legally binding and enforceable contract between Us and the User (defined below). These Terms consist of 2 (two) parts namely:
Part A contains the general terms and conditions (“General Terms”) which governs the access and use of the MyMoney Platform through the web link: https://mymoneyapp.co and mobile application by the name of ‘MyMoney’ (“Website” or “MyMoney Platform”, which includes any and all the related sub-links and the Services provided thereunder) offered by IIFL Open Fintech Private Limited (also referred to as “MyMoney”, “Company”, “We”, “Us” and “Our” as the context requires, and includes its affiliates, its assigns and Service Providers). Part B contains specific terms and conditions that govern the use of each of the Services (defined below) and shall be applicable to the extent such Services are availed by the User. The General Terms shall be read and understood in conjunction with the Service-specific terms and conditions provided under Part B of these Terms (“Service Terms”). MyMoney is only a technology platform and should not be construed as a bank. MyMoney neither holds nor claims to hold a banking license. The business current accounts, VISA MyMoney cards, business loans and other similar financial products and services offered on the MyMoney platform are provided by RBI-licensed banks and financial institutions. All funds in the MyMoney powered business current account are insured as per limits prescribed under the RBI’s deposit insurance scheme. The banking services/financial services offered on the MyMoney platform are powered by our partner banks/financial institutions and follows all security standards and legal requirements prescribed by the partner bank/financial institution, in accordance with the RBI regulations. The payment aggregation services offered on the MyMoney Platform is powered by Open Financial Technologies Private Limited (“Open”). By accessing or using this service, You hereby agree to adhere to the Terms set out hereunder.
PART A (General Terms)
These General Terms govern the User’s use and/or access to the Website. These Terms form an integral part of, and will be read in conjunction with: The Privacy policy governing the use of the Website or provided to the User in any other manner or form, which is hosted at https://www.mymoneyapp.co/privacy-policy (“Privacy Policy”). Terms and conditions stipulated by the Server Providers (defined below), which are specifically applicable to the Service(s) availed by You.Definitions
Unless the context otherwise requires, the following capitalized words shall have the meaning assigned to them below:“Admin Verified” shall mean the approval provided to the User by the administrator at MyMoney to use a particular Service or set of Services subject to the User’s information being submitted, Know Your Customer (“KYC”) compliance, risk assessment and execution of any other controls or protocols that may be required to verify and authenticate the User in accordance with applicable laws, including but not limited to the RBI Guidelines.
“Acquirer” shall mean any banks, financial institutions and Card Payment Networks which receives funds as instructed, authorised, effected and ordered by the Payer to the Payee.
“Bank(s)” shall mean any bank or financial institutions that are licensed and regulated by the Reserve Bank of India (“RBI”), which MyMoney has partnered with towards offering the Services. It is hereby clarified that the term “Bank” also includes any sponsor banks that MyMoney has partnered with, by establishing software protocols and direct integrations via API. “Business Days” shall mean any day in which banks are open for business in Mumbai, India / New Delhi, India, / and Bangalore, India.
“Business Days” shall mean any day in which banks are open for business in Mumbai, India / New Delhi, India, / and Bangalore, India.
“Business Current Account” or “Payment Account” shall mean a bank account that is linked by the User to the MyMoney Platform for settlement of proceeds. The Business Current Account can either be opened afresh with any Bank and linked to the MyMoney Platform for settlements or by enabling KYC verification and linking an existing bank account to the MyMoney Platform. Usage of the Business Current Account by any User is subject to the terms stipulated by the concerned bank with which the User has opened a Business Current Account.
“Card Payment Network” shall mean the card payments network managed by VISA, MasterCard, AMEX, Rupay or any other card network in order to facilitate a Transaction initiated using a card.
“Card Payment Network Rules” shall mean the written rules, regulations, releases, guidelines, processes, interpretations and other requirements (whether contractual or otherwise) imposed and adopted by the Card Payment Network(s).
“Confirmation of Delivery” shall mean the confirmation provided by the User to MyMoney confirming the delivery of goods or services to the Customer, which thereby authorizes MyMoney to settle funds collected in the Escrow Account to the Business Current Account belonging to the User in accordance with the RBI Guidelines. This authorization will remain in full force and effect until specifically terminated by the User in writing.
“Customer” shall mean any individual or entity that purchases good and services of the User and/or transacts with the User resulting in transference of funds to the User.
“Escrow Account” shall mean the nodal account or escrow account maintained by MyMoney or its Service Providers with the Bank in accordance with the RBI Guidelines.
“Know Your Customer” or “KYC” shall mean the various norms, orders, rules, regulations, laws, and statutes as per applicable laws, including the RBI’s Master Directions – Know Your Customer Directions dated February 25, 2016 issued from time to time according to which MyMoney procures personal identification details from the User desiring to access/use the MyMoney Platform.
“Online Business Account”, “MyMoney Pay” or “User Account” shall mean the online account opened by the User in accordance with the RBI Guidelines, subject to the onboarding requirements stipulated on the MyMoney Platform.
“Payee” shall mean any person to whom a payment is made, using the Services, and the term includes a User who uses the Services to receive payment. “Payer” shall mean any person who makes a payment, using the Services and the term includes a User and Customer who uses the Services to make payment.
“RBI Guidelines” shall mean the extant rules, regulations, orders, directions, notifications and guidelines issued by RBI, including but not limited to - the Payment & Settlement Systems Act, 2007, RBI Directions for opening and operation of accounts and settlement of payments for electronic payment transactions involving intermediaries dated November 24, 2009, the Guidelines on Regulation of Payment Aggregators and Payment Gateways dated March 17, 2020 and the Master Directions for Know Your Customer (KYC), 2016, as amended from time to time.
“Service(s)”shall mean and include the following services provided by MyMoney to the User at the request of the User:
MyMoney Pay;
Payment Gateway: Collections and Payout Settlements
Multi-Account Connect; Automated Accounting and Tax Filing
QR Cards
Expense Management: MyMoney Cards;
MyMoney Credit;
Virtual Account
UPI VPA Handle
Savings Account
Current Account
Current Account (Connected Banking)
Debit cards
Schedule Physical KYC
KYC APIs – Aadhar verification, PAN verification, Face matching with Aadhar
Includes any other products/services offered by MyMoney, from time to time
“Service Provider” shall mean an entity, association of persons, facility provider, card issuing institution, Bank, card processor, clearing house networks whose facilities or services are utilized in the provision of the Services, which includes but is not limited to, Open Financial Technologies Private Limited.
“Transaction” shall mean a payment instruction that results in the successful transfer of funds from a Payer to a Payee.
“User”, “You”, “Your” and “Yourself” , as the context requires, shall mean and include a natural person or legal person (sole proprietor, partnership firm, company, LLPs, trusts, societies or HUFs) that registers on the MyMoney Platform and/or transacts or avails Services. The term ‘User’ shall also include such personnel of the User (including but not limited to any current or former officers, directors or employees of the User) who access the MyMoney Platform using the User Account credentials with either full rights or limited rights, as the case may be.
Eligibility
The MyMoney Platform must be accessed/used only by persons above 18 (eighteen) years of age and who can enter into legally binding contracts with Us in accordance with the Indian Contract Act, 1872 by virtue of being ‘competent to contract’ within the meaning of Section 11 of the Indian Contract Act, 1872. Your use or access of the MyMoney Platform shall be treated as Your representation that You are competent to contract and if You are registering as a business entity, then You represent and warrant that You have the authority to bind such business entity to these Terms.Registration and Access
To access and use the MyMoney Platform and Services, You must register a User account on the MyMoney Platform. The User Account is provided to You in partnership with the Banks in accordance with the RBI Guidelines. In this regard, You will provide the Company and the Service Providers (as applicable) with all documents and information required to carry out KYC compliance in accordance with the RBI Guidelines. You must provide true, accurate, current and complete information at all times, failing which, We may at any time reject Your registration and terminate Your right to use or access the MyMoney Platform and/or Services. For the purpose of conducting KYC compliance for the User, MyMoney has the right to seek the self-attested copies of the documents, as submitted during/post the registration process.You understand and unconditionally agree that even though You may be allowed to execute transactions on the Website, the funds lying in your Online Business Account shall not be settled to Your Business Current Account or used for settlement of your payment obligations, if there are KYC obligations pending on Your part in accordance with the RBI Guidelines. Further, in the event You fail to meet Your KYC obligations (as mentioned above, to the satisfaction of MyMoney) We reserve the right not to release the settlement amounts to You and eventually reverse the funds to the Payer account from where such payment had originated from, if the non-completion of Your KYC obligations continue.
When You register on the Website, a User Account will be created based on the information You have provided. You are advised to keep the User credentials in confidence as you will be solely responsible for the activities and Transactions on the User Account. You will ensure that the User Account details provided and/or updated are correct and complete at all times. You shall inform MyMoney of any change in the User email address, mobile number, address, change in authorization, control or legal status or cessation of the User’s business by giving an advance written intimation of at least 30 (thirty) Business Days.
You shall be responsible at all times for maintaining the safety and confidentiality of the username, password and any other information pertaining to the User Account and for preventing unauthorized access to the User Account and devices. MyMoney will not be liable for any mistake or misuse of User Account either by the User, by any person authorized by the User, or by any person gaining access to the Services through the User Account.
It shall be Your responsibility to review these Terms periodically for updates / changes. Your continued use of the MyMoney Platform following any amendments of these Terms is construed as deemed acceptance of such amendments. Subject to the User’s continued compliance with these Terms, MyMoney grants the User a personal, non-exclusive, non-transferable, limited privilege to access and use the MyMoney Platform.
You will use the MyMoney Platform only for lawful business activities and will not carry out any activity which is banned, illegal or immoral, or in any manner facilitate furtherance of any such activities which constitutes a violation of any law or regulation, including but not limited to the RBI Guidelines.
It is hereby clarified that any funds lying in the Business Current Account is held by the relevant Bank and shall be governed by the terms and conditions framed by the said Bank. Funds in the Business Current Account shall belong to the account-holder registered on the Bank’s records and will be subject to applicable Bank charges.
You will be responsible and shall indemnify Us against any liability, costs or damages arising in connection with (a) the User providing false, incorrect or misleading information; and (b) compromise of the User Account credentials. MyMoney reserves the right to refuse access to the MyMoney Platform, terminate accounts, remove or edit content at any time without notice to the User concerned, if these Terms are violated.
The User unconditionally authorizes Us to generate Lightweight Directory Access Protocol (LDAP), the User credentials and subscribe to the API’s on the sponsor Bank’s web portal or software platform on behalf of the User to facilitate the Services. The User authorises Us to service the User’s Business Current Account on their behalf with regards to queries and complaints raised by the User and/or third party for facilitation of the Services including authorisation for raising of queries with the Banks on their behalf.
Aadhar Offline e-KYC Verification
You have a number of options to complete KYC compliance on the MyMoney Platform. If you proceed to register on the MyMoney Platform using Aadhar offline e-KYC, You (the Aadhaar holder), hereby irrevocably undertake to:- Place a request to Open, Karza Technologies Private Limited (“Karza”) and MyMoney to access Your Aadhaar Information (defined below) from Unique Identification Authority of India (“UIDAI”), to fetch and verify information regarding Aadhaar Number, Aadhaar XML, Virtual ID, e-Aadhaar, Masked Aadhaar, Aadhaar details, demographic information, identity information, Aadhaar registered mobile number, face authentication details and/or biometric information (collectively referred to as “Aadhaar Information”).
- Explicitly authorise Open, Karza and MyMoney to fetch Your Aadhaar Information from UIDAI to make it available to Open, Karza and MyMoney and/or any third party, as may be required for completing KYC verification.
- Agree to take all the necessary actions required for the purpose of authenticating and verifying Your Aadhaar Information.
- Give a valid, binding, irrevocable and explicit authorisation and consent as may be required under applicable laws, rules, regulations and guidelines for availing the Aadhaar API services of Open, Karza and MyMoney including, but not limited to the transmission and storage of Your Aadhaar Information by Open, Karza and MyMoney.
- Understand and agree that the consent has been submitted by You voluntarily and without any coercion from Open, Karza and MyMoney or any other party.
- Fully understand and accept sole and complete responsibility for any issues, legal suits, damages, losses, penalties, fines or liabilities (“Losses”) arising out of Your sharing of Aadhaar Information and authorising Open, Karza and MyMoney for fetching Your Aadhar Information and that You will fully hold harmless Open, Karza and MyMoney, its representatives, employees and directors for any Losses arising out of such request and actions.
- Understand and agree that Open, Karza and MyMoney does not store or retain any of Your Aadhaar Information including the Aadhaar number after it has processed Your request.
Fees and Taxes
You will be charged fees based on the Services you have requested or availed and the pricing/ subscription plan that you have opted for on the MyMoney Platform (“Fee”). User agrees that it will pay all fees and charges so levied without any delay or demur. We reserve the right to modify any Fee without any prior intimation to the User. However, such modified Fee shall only be applicable from the next billing cycle or renewal of the subscription plan.We shall not make refunds of any amounts charged as Fee other than as explicitly agreed by these Terms.
You shall bear all applicable taxes if the Fee is subject to any type of goods and service tax, income tax, duty or other governmental tax or levy.
Data, Audit & Security
We may monitor all Transactions to flag and prevent high-risk practices and fraudulent Transactions. It is understood that We may also engage Service Providers to assist in these efforts. In the event of any suspicious or unusual activity being carried out through the User Account, such account may be temporarily or permanently suspended.The User and MyMoney each represents and covenants to the other that: (a) it does not store card information or any related data within its database or any servers accessed by it, except for limited lawful purposes compliant with the RBI Guidelines; (b) it will adhere to the data security protocols prescribed under the RBI Guidelines, including the procedures for incident management and reporting; and (c) its systems and infrastructure are compliant with the Payment Card Industry-Data Security Standard (“PCI-DSS”). The User further represents and covenants to MyMoney that its systems and infrastructure are compliant with the Payment Application-Data Security Standard (“PA-DSS”), as applicable.
MyMoney and Open at their sole and absolute discretion may conduct inspections, risk and security assessments and audits on the User and may impose additional conditions/restrictions on the User Account, including but not limited to: (a) establishing a reasonable reserve amount to cover potential Chargebacks (defined below) and related fees; and (b) withholding the Services and directing the User to upgrade its infrastructure in compliance with applicable laws. The User will not sell, provide, exchange, or otherwise disclose to third parties or use by themselves (other than for the purpose of completing a Transaction, or as specifically required by law) any personal information about any third party (whether its Customer or otherwise), including the financial details and any personal identification information, without obtaining the prior written consent of such third party.
We employ the use of cookies on the MyMoney Platform. Most interactive websites use cookies to enable retrieval of the User details for each visit. Cookies are used in some areas of the MyMoney Platform to enable and enhance the functionality and ease of use for the Users. By using the MyMoney Platform, the User consents to the use of cookies in accordance with the Privacy Policy. Some of the Service Providers may also use cookies.
Regulatory Compliance
You acknowledge that to perform Our obligations under these Terms, MyMoney will be acting in the capacity of a payment aggregator in accordance with the RBI Guidelines, and that Your Users will be deemed to be ‘merchants’ in accordance with RBI Guidelines. Accordingly, You unconditionally agree and undertake that:1.1.1We will be entitled to collect and verify KYC documents and other supporting documents from You and Your User to ensure compliance with RBI Guidelines;
1.1.2You shall cooperate and shall procure Your Users to cooperate, with Us for any audits, inspections, risk and security assessments from time to time, to ensure compliance with RBI Guidelines;
1.1.3You and Your User will ensure compliance with RBI Guidelines at all times;
1.1.4We reserve the right to deny or suspend any of the Services if You or Your User are suspected of or found breaching RBI Guidelines or any of the terms set out under these Terms.
Content
Unless specifically permitted by the User, usage of the Services does not grant Us the license to use, reproduce, adapt, modify, publish or distribute the content created and/or stored in the User Account. Notwithstanding the above, the User grants Us the permission to access, copy, distribute, store, transmit, reformat, or disclose the data /content of the User Account for the purpose of providing the Services requested/availed by the User.The User may transmit or publish content created by using any of the Services or otherwise. However, the User shall be solely responsible for such content and the consequences of its transmission or publication. Any content that the User may receive from third-parties while using the Services, is provided to the User on an ‘AS IS’ basis for their information and personal use only and the User agrees not to use, copy, reproduce, distribute, transmit, broadcast, display, sell, license or otherwise exploit such content for any purpose, without the express written consent of the person who owns the rights to such content.
User undertakes that it shall not do any act or post, display, upload, modify, publish, transmit, update or share any information that -
belongs to another person and to which the User does not have any right;
is grossly harmful, harassing, blasphemous, defamatory, obscene, pornographic, paedophilic, libellous, invasive of another’s privacy, hateful, or racially, ethnically objectionable, disparaging, relating or encouraging money laundering or gambling, or otherwise unlawful in any manner whatever;
infringes any patent, trademark, copyright or other intellectual proprietary rights of any third party;
violates any law for the time being in force;
impersonates another person;
contains software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of the MyMoney Platform;
is prohibited under applicable law(s) for the time being in force including the Indian Penal Code, 1860, as amended from time to time and rules made there under; and
threatens the unity, integrity, defence, security or sovereignty of India, friendly relations with foreign states, or public order or causes incitement to the commission of any cognizable offence or prevents investigation of any offence or is insulting any other nation.
You are also prohibited from:
violating or attempting to violate the integrity or security of the MyMoney Platform or any Content thereto;
transmitting any information (including job posts, messages and hyperlinks) on or through the Platform that is disruptive or competitive to the provision of Service(s) by MyMoney;
making any unsolicited communications to other Users;
using any engine, software, tool, agent or other device or mechanism (such as spiders, crawlers, robots, avatars or intelligent agents) to navigate or search the MyMoney Platform;
attempting to decipher, decompile, disassemble or reverse engineer any part of the MyMoney Platform;
copying or duplicating in any manner any of the content or other information made available from the MyMoney Platform.
Third-Party Links
The MyMoney Platform may refer to or may contain, links to third-party websites, applications, services and resources. We provide these links only as a convenience to the User to avail certain services and should not be construed as an endorsement of these third-party websites applications and services by MyMoney. We make no representation or warranty of any kind regarding the accuracy, reliability, effectiveness, or correctness of any aspect of any third-party services, and consequently, We are not responsible for the content, products or services that are available from these third-party services. The User is responsible for reading and understanding the terms and conditions and privacy policy that applies to the User’s use of any third-party services, and the User acknowledges its sole responsibility and assume all risks arising from User’s use of any third- party services.Intellectual Property Rights
All copyrights, patents, trade secrets, know-how, trade dress, trademarks, service marks, trade names, moral rights and other intellectual property and proprietary rights (“IPR”) in the MyMoney Platform and Services shall remain the sole and exclusive property of MyMoney and its licensors, as applicable. The IPR may not be copied, reproduced, distributed, transmitted, broadcasted, displayed, sold, licensed, uploaded, or otherwise exploited without the prior written consent of MyMoney.Relationship
You understand and agree that nothing contained in these Terms shall be deemed or construed as creating a partnership or joint venture between the User and Us, or deemed to cause any party to be responsible in any way for the debts and obligations of the other party. You will not describe (whether online or otherwise) Yourself as an agent or representative of MyMoney or make any representations to any User or any third party or give any warranties which may require Us or Service Providers to undertake or be liable for, whether directly or indirectly, any obligation and/or responsibility to the User or any third party.Confidentiality
The User agrees not to disclose or attempt to use or personally benefit from any non-public information that it may learn or discover on the Website or through the Services. This obligation shall continue until such time as the non-public information has become publicly known through any action of the User. If the User is compelled by order of a court or other governmental or legal body (or have notice that such an order is being sought) to divulge any such non-public information, the User agrees to promptly and diligently notify Us and cooperate fully with Us in protecting such information to the extent possible under applicable law.We may access, preserve and disclose any of User’s information if required to do so by applicable law, or if we believe in good faith that it is reasonably necessary to (i) respond to claims asserted against Us or to comply with legal process, (ii) for fraud prevention, risk investigation, User support, product development and de-bugging purposes, or (iii) protect Our rights, property or ensuring safety of the Users or members of the public.
Disclaimer of Warranties & Limitation of Liability
In processing the Transactions, We shall be entitled to rely upon all electronic communications, orders or messages sent to Us through the Service Providers including and to the extent they are in compliance with the processing mechanism of the Service Providers and any applicable laws and the RBI Guidelines. We shall not be obligated to verify or make further inquiry into the identity of the sender, or the message integrity, of any communications, orders or messages.We will endeavour to ensure that access to and availability of the Services remains uninterrupted and error free. However, access to the application may occasionally be suspended or restricted to allow for repairs, maintenance, or for the introduction of new facilities and Services and in such cases We shall not be liable for the disruption of any of the Services. We reserve the right to determine the timing and content of software updates, which may be automatically downloaded and installed by an application without prior notice to the User.
The Services are provided on an as-is-and-as-available basis. We expressly disclaim all warranties of any kind, whether express or implied, including, but not limited to, the implied warranties of merchantability and fitness for a particular purpose. We make no warranty that the Services will be uninterrupted, timely, secure, or error free. To the maximum extent permitted by law, the entire risk arising out of the User’s access of and use of the Website and Services, remains with the User. A separate limitation over liability shall be applicable to each of the Services.
We shall not be liable for any breach of these Terms due to any force-majeure event that prevents or delays performance of its obligations under these Terms. Force-majeure events would include but not limited to lockdown, such as act of god, fire, lightning, explosion, flood, adverse weather conditions, power failures, failure in any communication systems, equipment breakdown, strikes, lock-out, pandemic, endemics, or any other cause beyond the control of MyMoney. We shall not be liable to You for any indirect Losses, special, consequential or punitive damages or Losses, including but not limited to, loss of business or data or profits or goodwill.
Indemnity
The User shall keep Us indemnified from and against any and all liability (including but not limited to liabilities, judgments, damages, losses, claims, costs and expenses,) or any other loss that may occur, arising from or relating to any claim, suit or proceeding brought against Us by another User/ Service Provider/ third party for reasons including, but not limited (i) a breach, non-performance, non-compliance or inadequate performance by the User of any of the terms, conditions, representations, obligations or warranties made by him/her; (iii) any acts, errors, fraud, misrepresentations, wilful misconduct or negligence of the User, or their employees, subcontractors and agents in performance of their obligations under these Terms.Communication Policy
As part of User’s use of the Services, User may receive notifications, offers, discounts and general information from Us via text messages or by emails, for the purpose of collecting feedback. The User understands that receipt of non-service related communications can be deactivated from User Account settings or by sending an email to support@mymoneyapp.co or by ab-initio not consenting to receive these communications. The User acknowledges that the SMS service provided by Us is an additional facility provided for the User’s convenience and that it may be susceptible to error, omission and/ or inaccuracy.Customer Complaints
If we receive any general complaint against the User in connection with the use of the MyMoney Platform, We will forward the complaint to User’s registered email address. The User must respond to the complaint within 36 (thirty six) hours of receiving the complaint as forwarded by Us and copy Us in its communications. If the User does not respond to the complainant within 36 (thirty six) hours from the date of Our email to the User, We may at our sole discretion opt to disclose the User’s contact information to the complainant for enabling the complainant to take legal action against the User. The User understands that its failure to respond to the forwarded complaint within the 36 (thirty six) hours’ time limit will be construed as the User’s consent to disclosure of the User’s name and contact information by Us. Notwithstanding the foregoing, the User acknowledges and agrees that (a) We can disclose any information relating to the User if it deems in its sole discretion that such disclosure is required in the interest of justice; and (b) We can withhold or appropriate any settlements due to the Payee to ensure compliance with applicable laws on reasonable suspicion.It is understood between that a Transaction is solely between the User and its Customer and Open does not provide any guarantees or warranties, or delivery level commitment with respect to the User. Use of the MyMoney Platform by a User in no way represents any endorsement by Us of any User. We are not obligated to mediate disputes between Customers, Users and the payment participants.
Suspension and Termination
In the event (a) the User breaches these Terms; (b) the User engages in or is suspected of engaging in any illegal, fraudulent, immoral or abusive activity; or (b) the User provides any information that is untrue, inaccurate, not current or incomplete or We have reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, or not in accordance with these Terms, We reserve the right, to suspend/terminate such User’s access to any or all of the MyMoney Platform and Services without notice, and this will be without prejudice to Our right to exercise any other remedy available to it under applicable law.In the event We identify any suspicious or unusual activity being carried out by the User on the MyMoney Platform, We at our discretion may temporarily or permanently suspend the User’s access to the MyMoney Platform and/or take any such actions necessary to mitigate risk, including but not limited to, withholding of funds or refunding the funds to the source from where such payment originated.
It is understood between that a Transaction is solely between the User and its Customer and Open does not provide any guarantees or warranties, or delivery level commitment with respect to the User. Use of the MyMoney Platform by a User in no way represents any endorsement by Us of any User. We are not obligated to mediate disputes between Customers, Users and the payment participants.
Governing Law, Jurisdiction and Disputes
Without prejudice to the provisions mentioned below, these Terms are subject to the laws of India and any disputes arising out of or in connection with the Terms will be subject to the exclusive jurisdiction of the competent courts at Bangalore, India.MyMoney and the User acknowledge and agree that, in the event of any dispute/claim between arising out of or in connection with the Terms: (a) the transaction logs maintained by Us will be the only source of data to verify the accuracy of such transactions; (b) such logs will be fully binding as evidence for the purposes of adjudicating the said dispute /claim; and (c) the said dispute/claim shall be settled by binding arbitration in accordance with the Arbitration and Conciliation (Amendment) Act, 1996 and the rules of the Conciliation and Arbitration Centre, Bangalore as amended from time to time with the exclusive seat of arbitration at Bangalore, India.
If any part of these Terms is determined to be invalid or unenforceable pursuant to applicable law including, but not limited to, the warranty disclaimers and liability limitations set forth herein, then the invalid or unenforceable provision will be deemed superseded by a valid, enforceable provision that most closely matches the intent of the original provision and the remainder of the Terms shall continue in effect.
Customer Grievance Redressal
You may contact us with any enquiry, complaints or concerns by writing to the Nodal Officer at the coordinates mentioned below:e-mail: nodalofficer@mymoneyapp.co
PART B (Service Terms)
The User represents and agrees that usage of the Services mentioned under this Part B will inherently subject the User to the General Terms governing use of the MyMoney Platform as set out under Part A. These Service Terms shall be supplemental to the General Terms as set out under Part A and shall not be construed as a replacement to the General Terms.MyMoney PAY
MyMoney Pay is a virtual account powered by MyMoney and its Service Providers that can be used to make payments and receive collections for any Transaction arising in the User’s normal course of business subject to compliance with RBI Guidelines.- By proceeding to use MyMoney Pay, the User (a) signifies its consent to be bound by these Terms; (b) will be contracting with MyMoney; and (c) acknowledges and agrees these Terms will constitute the User’s binding obligations, with MyMoney while using MyMoney Pay.
Eligibility
To use MyMoney Pay, You must: (i) be a tax resident of India; and (ii) be Admin Verified and registered to use MyMoney Pay on the MyMoney Platform.Rights and Obligations:
No interest is payable by MyMoney on the amounts maintained by the User in MyMoney Pay. A User is permitted to operate only 1 (one) MyMoney Pay account. Any amounts collected by the User into MyMoney Pay using Payment Gateway Services (defined below) will be subject to the provisions of the Terms governing Payment Gateway Services.
The availability of balance on MyMoney Pay to the User will be subject to receipt of funds into the Escrow Account and User’s continued compliance with the RBI Guidelines at all times. Subject to fulfilling the KYC requirements, the User may link its Business Current Account to the MyMoney Pay in order to settle Transaction proceeds in accordance with the RBI Guidelines. Once linked, the Transaction amount (minus Fees, as applicable) will be settled to the User’s Business Current Account from MyMoney Pay within T+1 days where ‘T’ is the date of Confirmation of Delivery by the User to MyMoney. The User shall be solely responsible for providing the updated and correct details of their Business Current Account so linked with the MyMoney Pay Account.
Notwithstanding anything to the contrary, the User acknowledges and agrees that where We have no control over incoming funds and its delay thereof, We will transfer the funds to the merchant in accordance with the RBI Guidelines.
The User understands and unconditionally acknowledges that even if the User is allowed to receive payment using MyMoney Pay, funds from such transactions will not be settled to the User’s MyMoney Pay / Business Current Account or any other account until KYC obligations are completed by the User in accordance with the RBI Guidelines. If the User continues to default on KYC obligations, as mentioned above, MyMoney at its sole and absolute discretion may refrain from releasing the settlement amounts to the User and accordingly reverse the funds to the source from where such payment originated.
Usage:
The User authorizes Us and Our Service Providers to rely on and act upon any instructions provided by the User in respect of its MyMoney Pay account and such instructions shall be conclusively presumed for Our benefit to be duly authorized by and legally binding on the User. The User will access and operate its MyMoney Pay account solely for the debits and credits permitted under the RBI Guidelines.
We shall be entitled to require any instruction/document in any form to be authenticated by the User of any password, identification code or authentication test as may be specified by Us from time to time and the User shall ensure the secrecy and security of such password, code or test All payments made by the User will be subject to the two-factor authentication system envisaged under the RBI Guidelines.
The User acknowledges that there are inherent risks involved in sending the instructions/ communications/documents to Us via electronic communications/instructions and accordingly agrees and confirms that all risks in this regard, shall be fully borne by the User.
Termination:
We reserve the right to suspend/discontinue MyMoney Pay for the User for any reason whatsoever. This includes the following grounds, based on suspicion or otherwise:
Violation of the RBI Guidelines;
Violation of any of these Terms;
Discrepancy in the information and KYC documentation provided by the User;
To prevent potential fraud, sabotage, wilful destruction or threat to national security; or
Where We in Our sole opinion and discretion believes that cessation/ suspension of the
MyMoney Pay is necessary to meet the ends of justice.
Payment Gateway
The MyMoney Platform enables the User to accept payments from multiple Customer sources including credit/debit cards, net-banking, e-wallets and UPI (“Payment Gateway Services”) subject to continued compliance with these Terms.Authorization:
The User understands that the Payment Gateway Services are provided on the MyMoney Platform by integrating with various Service Providers in order to provide a single solution for all payment acceptance.
The User authorises Us to hold, receive, disburse and settle funds on, the User’s behalf subject to these Terms. The User authorisation permits Us to generate an electronic funds transfer between the payment system providers and the Escrow Account to process each Transaction. The User acknowledges that its continued use of the Payment Gateway Services will be subject to its compliance with the RBI Guidelines. The authorizations provided hereunder by the User will remain in full force and effect until the User Account is closed or terminated in accordance with the provisions contained hereunder.
All risk, loss or liability associated with delivery undertaken by the User to its Customers will be solely and absolutely attributable the User. Also, all disputes regarding quality, merchantability, non- delivery, delay in delivery or otherwise will be directly handled between the User and the Customer without any reference to Us as a party to such disputes.
Card Payment Network Rules:
The Card Payment Networks have provided the infrastructure and processes to enable Transaction authorisation. The Card Payment Networks requires the User to comply with the Card Payment Network Rules. The Card Payment Networks reserve the right to amend their guidelines, rules and regulations. We may be required to amend modify or change these Terms pursuant to amendments to the Card Payment Network Rules and such amendments, if any, shall be deemed to be binding on the Users with immediate effect.Notwithstanding our assistance in understanding the Card Payment Network Rules, the User expressly acknowledges and agrees that, the User is assuming the risk of compliance with all provisions of the Card Payment Network Rules, regardless of whether the User is aware of or have access to those provisions. Card Payment Networks make excerpts of their respective rules available on their internet sites or websites.
In the event that, the User’s non-compliance of Card Payment Network Rules, results in any fines, penalties or other amounts being levied on or demanded of Us by a Card Payment Network, then without prejudice to Our other rights hereunder, the User shall forthwith reimburse Us in an amount equal to the fines, penalties or other amount so levied or demanded or spent by Us in any manner in relation to such fines, penalties and levies. If the User fails to comply with, the User’s obligations towards the Card Payment Network, We may suspend settlement or suspend/terminate the Services or any part thereof forthwith or freeze and appropriate incoming funds to the User Account.
Settlement:
All Transactions settled to the User shall be subject to the Fees payable to Us.The availability of balance in MyMoney Pay to the User will be subject to receipt of funds into the Escrow Account and User’s continued compliance with the RBI Guidelines at all times.
Subject to fulfilling the KYC requirements, the User may link its Business Current Account to its MyMoney Pay in order to settle Transaction proceeds in accordance with the RBI Guidelines. Once linked, the Transaction amount (minus the Fees, as applicable) will be settled to the User’s Business Current Account from MyMoney Pay within T+1 days where ‘T’ is the date of Confirmation of Delivery by the User to Us. The User shall be solely responsible for providing the updated and correct details of their Business Current Account so linked with the MyMoney Pay Account. Notwithstanding anything, the User acknowledges and agrees that where We have no control over incoming funds and its delay thereof, We will transfer the funds to the merchant in accordance with the RBI Guidelines.
If the User requests, We at Our sole discretion may provide early settlement services with respect of the receivables of the User, to the MyMoney Pay account or Business Current Account, as applicable at such additional Fees that We inform to the User in writing.
The User understands and unconditionally acknowledges that even if the User allowed to receive payment using MyMoney Pay, funds from such transactions will not be settled to the User’s MyMoney Pay / Business Current Account or any other account until KYC obligations are completed by the User in accordance with the RBI Guidelines. If the User continues to default on KYC obligations, as mentioned above, We at Our sole and absolute discretion may refrain from releasing the settlement amounts to the User and accordingly reverse the funds to the source from where such payment originated.
Prohibited Services:
The User agrees that the User will not use the Payment Gateway Services in connection with the following businesses, business activities or business practices:
embassies, foreign consulates or other foreign governments; door-to-door sales; offering substantial rebates or special incentives to the cardholder subsequent to the original purchase;
negative response marketing or bulk marketing tools which are intended for spamming; engaging in deceptive marketing practices;
evading card network’s chargeback monitoring programs;
engaging in any form of licensed or unlicensed aggregation or factoring;
age restricted products or services;
bail bonds;
bankruptcy lawyers;
bidding fee auctions;
collection agencies;
chain letters;
cheque cashing, wire transfers or money orders;
counterfeit and unauthorized goods (e.g. knock-offs, imitations, bootlegs);
unregulated/unlicensed currency exchanges or dealers;
firms selling business opportunities, investment opportunities, mortgage consulting or reduction,
credit counselling, repair or protection or real estate purchases with no money down;
credit card and identity theft protection;
cruise lines;
essay mills;
flea markets (firms/ individuals operating from a booth, on a part time basis with no lease or telephone availability; whether indoor or outdoor);
drug paraphernalia;
miracle cures which include unsubstantiated cures, remedies or other items marketed as quick health fixes;
drug test circumvention aids;
extended warranties;
fortune tellers;
”get rich quick” schemes;
gambling (including but not limited to lotteries, internet gaming, contests, sweepstakes, or offering of prizes as an inducement to purchase goods or services);
sports forecasting or odds making;
illegal products or services;
mail-order brides;
marijuana dispensaries and related businesses;
unregulated/unlicensed money transmitters or money service businesses;
multi-level marketing or pyramid schemes;
online, mail, or telephone order pharmacies or pharmacy referral services;
prepaid phone cards, phone services or cell phones;
pseudo pharmaceuticals;
quasi-cash or stored value;
securities brokers;
sexually-oriented or pornographic products or services, or escort services;
shipping or forwarding brokers;
substances designed to mimic illegal drugs;
telemarketing;
timeshares;
online, mail, or telephone order tobacco or e-cigarette sales;
weapons and ammunitions;
hacking and cracking materials used to enable illegal access:
fake government identity cards;
endangered species;
alcohol and related products;
organ trade or trafficking;
cable descramblers and black boxes;
copyright unlocking devises;
offensive goods which include literature, products or other materials that: (a) defame or slander any person or groups of people based on race, ethnicity, national origin, religion, sex, or other factors; (b) encourage or incite violent acts; and/or (c) promote intolerance or hatred;
traffic devices which include radar detectors/jammers, license plate covers, traffic signal changers, and related products;
illegal trade of live animals or hides/skins/teeth, nails and other parts etc. of animals; trust/ NGO aggregators;
unregulated/unlicensed trade of prescription drugs or herbal drugs that requires a prescription from a recognized and licensed medical practitioner;
pyrotechnic devices and hazardous materials which includes fireworks and related goods; toxic, flammable, and radioactive materials and substances;
unregulated/unlicensed trade of regulated goods which includes air bags; batteries containing mercury; Freon or similar substances/refrigerants; chemical/industrial solvents; government uniforms; car titles; license plates; police badges and law enforcement equipment; lock-picking devices; pesticides; postage meters; recalled items; slot machines; surveillance equipment; goods regulated by government or other agency specifications;
wholesale currency, which includes discounted currencies or currency, exchanges including crypto currencies;
crowdfunding platforms;
nidhi companies;
friendship clubs;
spa services;
crypto currency, NFTS and virtual currency or credits that can be monetized, re-sold or converted to fiat currency, physical or digital goods or services or to otherwise exit the virtual world;
products/services intended to inflict or promote revenge, harassment, and other forms of abuse, humiliation and intimidation; and/or
any product or service which is not in compliance with all applicable laws and regulations whether federal, state, local or international including but not limited to the laws of India.
Transaction Dispute:
The User agrees that transactions involving the Card Payment Networks may be disputed at any time up to 180 (one hundred eighty) days, from the date of Transaction by the Customer as per the Card Payment Network Rules. Disputes resolved in favour of the Customer may result in reversal of payments to the Customers (“Chargeback”). In the event of rejection/ suspension of payments to the User, Chargebacks, refunds and/or any other dispute relating to the Transactions contemplated under these Terms (”Transaction Dispute”) on any grounds whatsoever, We will forthwith notify the User of the same.
On such notification the User will conduct an internal review of such matter and will, within the time frame prescribed by Us in the notification, revert to Us in writing either: requesting Us to refund (”Refund Request”) the payment received by the Customer in respect of such Transaction Dispute (”Refund Monies”); or providing Us with a statement explaining how the Disputed Transaction is not warranted, together with all documentary evidence in support of contesting such Transaction Dispute. In the event that the User provides a Refund Request to Us or fails to contest such Transaction Dispute within the aforesaid timeframe prescribed by MyMoney or contests Transaction Dispute without providing supporting documentation to the satisfaction of MyMoney, the Service Provider and/or Card Payment Network and/ or issuing Bank, We will be entitled to recover the Refund Monies from settlements subsequently made to the User Account.
The User will be liable to make payment of the Refund Monies or part thereof which has not been returned to Us forthwith. It is hereby agreed and acknowledged by the Parties that the Fees charged by Us in respect of the Transaction Dispute will not be refunded, compensated or paid by Us to the User, Customer or any other person. Further, the Chargeback will be effected within 1 (one) week of the Transaction and the maximum amount of the Chargeback payable by Us to the Customer will be equivalent to the value of the Transaction only.
Multi-Account Connect; Automated Accounting and Tax Filing
Scope
This Service allows the User to track their customer payments and statements across various Banks under a unified dashboard (“Multi-Account Connect”), and equips the User with automatically generated book-keeping records and reports (“Automated Accounting”). You note and agree that We are only acting as a technology aggregator for these purposes wherein the Our role is limited to the extent of providing the MyMoney Platform to You.Exclusion of Liability
User understands, covenants and confirms that We shall not be liable in case any unauthorized or incorrect instruction is executed by the User or concerned Service Provider resulting in any wrongful amount being debited or credited from the User. Consequently, We expressly exclude any and all direct as well as indirect liability whatsoever which may arise in this regard.
Internet Frauds and Technology Risks
The internet is susceptible to a number of frauds, misuses, hacking and other actions, which could affect use of these Services. Whilst We shall aim to provide security to prevent the same, it does not guarantee the User complete protection from such internet frauds, hacking and other actions, which could affect the use of affect use of these Services. There can be instances where the Services may require maintenance and during such time it may not be possible to process the request of the Users. This could result in delays in the processing of requisite instruction or failure in processing of instructions. The User understands and acknowledges that We disclaim all and any liability, arising out of any failure or inability by Us to honour any Customer instruction.
Collection of User Data
The information collected for performing these Services (“Data”) will be based on the details submitted by the User. The User must provide true, accurate, current and complete Data at all times, failing which, the output from this Data will tend to be false, inaccurate, redundant or incomplete.
Use of User’s Data
The information collected may be used for personalizing the User’s experience and better Our responses to match the User’s requirements, wherever possible, improve the MyMoney Platform and/or application based on the information, their exact requirements, improving User experience based on feedback.
Request for Consent
The consent for the collection of Data and also for the subsequent use of the Data is deemed to be given by the User when the User decides to avail the Services.
Malicious Behaviour
The MyMoney Platform shall not allow any party and/or entity that steal data, secretly monitor or harm Users, or are otherwise malicious. Therefore, the following are expressly prohibited:
viruses, trojan horses, malware, spyware or any other malicious software.
apps/ websites that link to or facilitate the distribution or installation of malicious software. apps/ websites that introduce or exploit security vulnerabilities.
apps/ websites that steal a User’s authentication information (such as usernames or passwords) or that mimic other apps or websites to trick Users into disclosing personal or authentication Data.
apps/ websites that install other apps on a device without the User’s prior consent.
apps/ websites designed to secretly collect device usage, such as commercial spyware apps.
QR Codes
General
MyMoney offers a single unified interoperable QR code to the User for accepting payments made using third party UPI apps, net-banking etc. (“QR Code”).
The User shall, upon receipt of the QR code, link the QR Code to the User Account. By linking or using the QR Code in any manner whatsoever, the User hereby accepts these Terms and unconditionally authorises Us to hold, receive, disburse and settle funds on its behalf. This authorization permits Us to receive an electronic funds transfer initiated by the Customer into the Escrow Account to process each Transaction.
The User understands that the QR Code which will be generated by Us is unique and specific to the User and the User shall at all times maintain security of this QR Code. Specifically We shall not be liable in any manner whatsoever for any negligent or wilful misuse of the QR Code by the User or its agents/ employees.
The User may link the Business Current Account to MyMoney Pay to settle the amounts collected in MyMoney Pay. When collected amounts into MyMoney Pay using QR Codes the User will also be subject to the provisions governing the use of MyMoney Pay (including settlement timelines and Fees, as applicable), as set out under these Terms.
The User agrees and understands that We reserve the right to suspend settlements into MyMoney Pay and/or the Business Current Account or opt for any other equitable remedy (including termination of these Terms) if it determines at its sole discretion that the User violates any of these Terms.
The User hereby represents, warrants and covenants that the User shall deliver the goods/ services to its Customers either before or immediately upon the payment for such goods/ services by the Customers using the QR Code.
MYMONEY Cards
“MyMoney Card” refers to any co-branded debit card (physical & virtual) issued by MyMoney’s partner Banks (“Issuing Bank”) to a registered User of the MyMoney Platform who has made an application for the purpose of meeting the User’s expenses. The MyMoney Card will carry the branding of the Issuing Bank and MyMoney and will be provided to the User at Our sole discretion. By requesting for and/or proceeding to use the MyMoney Card, the User signifies its consent to be bound by these Terms. The issuance and activation of the Card will be subject to RBI Guidelines at all times.General Terms
When the User avails or uses the MyMoney Card, the User is representing that:
The MyMoney Card shall be utilized by the User strictly in compliance with the RBI Guidelines and the terms and conditions stipulated by the Issuing Bank at all times. The terms relating to Cards issued by Us in partnership with SBM Bank (India) Limited will be subject to the terms hosted at
https://www.mymoneyapp.co/tnc-sbm-debitcard.
Its use of the MyMoney Card shall not violate any applicable laws or regulations, and that the User fulfils all the eligibility criteria set forth under the General Terms.
Upon completion of authentication of the MyMoney Card by the User in accordance with RBI Guidelines, the User acknowledges that it will be solely liable for all losses, liabilities, claims or damages arising out of or in connection with, the MyMoney Card.
The User may assign or hand over possession of the MyMoney Card to one or more of its authorized employees or personnel at its own risk and expense subject to compliance with the RBI Guidelines.
All registration information the User submits is truthful, complete and accurate and the User agrees to maintain accurate, complete and up-to-date account information.
The MyMoney Card, or its content will only be used for business purposes. By using the MyMoney Card, the User hereby agrees that it is aware and responsible to adhere to all Terms governing use of MyMoney Pay and the Business Current Account.
By making a payment using the MyMoney Card, You assume responsibility for the transaction that has taken place through MyMoney Card irrespective of whether such transaction was initiated by your authorized personnel or otherwise.
The User understands that Transactions initiated using the MyMoney Card are routed through facilities and infrastructure provided by the Banks, Card Payment Networks and other Service Providers. We disclaim any and all liability in the event of any error arising from a failure in the systems or networks of the applicable Bank or Card Payment Network or Service Provider. The User understands and accepts that not all products, services and rewards offered in relation to the MyMoney Card are available in all geographic areas and it may not be eligible for all the products, services and rewards offered by Us. We reserve the right to determine the availability and eligibility for any product, services and rewards offered in respect of the MyMoney Card.
Fees and Charges
Fees, interest and any other charges applicable in respect of the MyMoney Card will be payable as per the terms communicated by the Issuing Bank to the User, from time to time. The MyMoney Card will be provided to the User at such fees as communicated by Us to the User on the MyMoney Platform.
The User hereby unconditionally and irrevocably authorizes Us with the right to create lien or set- off/appropriate any amounts accruing or already accrued to the User, to meet interest and any other charges if there are any amounts that are outstanding, due and payable on the MyMoney Card for a period of 30 (thirty) days or more. Upon the occurrence of the foregoing, the User acknowledges that We reserve the absolute right to charge additional fees to the User for the services rendered.
Limits & Statement Limit:
The cash usage and withdrawal limits in respect of the MyMoney Card will be subject to multiple factors including: (a) loading of balances on the MyMoney Card; (b) the maximum permissible withdrawal/ purchase limits; and (c) the terms stipulated by the Issuing Bank, as amended from time to time.
Statement: We may, at Our own discretion, provide a recent transaction statement in respect of the Card on the User’s account on the Website platform.
Refunds
The User is responsible for all information provided in respect of the User Account and all charges that result from these payments. In case, money has been charged to the MyMoney Card, MyMoney Pay or Business Current Account and a payment/service is not delivered by the concerned service provider within 72 working hours of completion of the Transaction then the User may inform Us regarding the same by sending an email to support@mymoneyapp.co. We will investigate such incidents and if it is found that money was indeed charged without delivery of the payment/service then you will be refunded the money in accordance with our internal grievance policy. All refunds will be credited to source. We will have the sole discretion to determine the mode of reversal from the above-mentioned options. However, We disclaim any and all liability, including for refunds, in the event of any error arising from a failure in the applicable Bank or Card Payment Network.
In case a Transaction has been wrongfully made and credited to your MyMoney Card, We reserve the right to automatically initiate a refund. By agreeing to these Terms, You hereby consent to such a refund initiated by the Acquirer, at Our request, to rectify any incorrect transaction made to your favour. Once the said Transaction is processed, We shall inform you of the same and the corrective action taken by Us to refund such payment.
Suspicious Activity
If We believe that the User has violated any of the conditions as mentioned hereunder, We reserve the right to suspend your access to the Account on the Website platform and/or delete your Account without prior notice. The User may reach out to Our support team at support@mymoneyapp.co to assist with any query or question arising as a result of the afore- mentioned suspension/ deletion to resolve the same.
Termination
The User may terminate the MyMoney Card relationship with Us and the Issuing Bank at any time by providing prior written notice. We as well as the Issuing Bank may also cancel the use of the MyMoney Card at any time without prior notice, if We or the Issuing Bank (as the case maybe) considers it necessary for business or security reasons, which may include but not limited improper use of MyMoney Card, misleading or incorrect information/documents given along with application or otherwise, failure to furnish information or documents as required by relevant laws/regulations (including identification documents) as may be required under the Issuing Bank’s policies, the RBI Guidelines, or if the User is involved in any civil litigation or criminal offence / proceedings involving a statutory body or court of law.
Loss, Theft or Misuse
In case the MyMoney Card is lost, stolen, misplaced, or if someone else knows the Card PIN or other security information, the User should contact the Issuing Bank immediately. The User must report the theft of the MyMoney Card(s) to the Police and lodge a FIR. The User will not be liable for any misuse on the MyMoney Card after informing the Issuing Bank of the loss, unless the User has acted with gross negligence or engaged in fraud. The User will be solely liable for all losses owing to any misuse of the MyMoney Card prior to intimation being provided to the Issuing Bank about loss of the MyMoney Card.
Disclosure
We and the Issuing Bank reserve the right to provide any details relating to the MyMoney Card account to a court of law or enforcement agency, as may be required under applicable laws.
MYMONEY Credit
The terms and conditions hosted on the https://www.mymoneyapp.co/tnc-mymoney-credit (“MyMoney Credit Terms”) shall govern the credit and business loans facilities offered, by Our partner banks/financial institutions regulated by RBI, on the MyMoney Platform as a part of the Services (hereinafter referred to as “MyMoney Credit”). By proceeding to use MyMoney Credit, the User signifies its consent to be bound by these MyMoney Credit Terms which shall be read in conjunction with these Terms and the Privacy Policy.SBM Current Account Terms
The terms and conditions hosted on https://www.mymoneyapp.co/tnc-sbm-ca (“SBM Current Account Terms”) shall govern the online account facilities offered, by Our banking partner [SBM Bank (India) Limited] which is regulated by RBI, on the MyMoney Platform as part of the Services (hereinafter referred to as “SBM Current Account”). By proceeding to use SBM Current Account, the User signifies its consent to be bound by these SBM Current Account Terms which shall be read in conjunction with these Terms and the Privacy Policy.