These Terms and Conditions (“Terms and Conditions”) apply to and regulate the Co-branded
GiftCards (as hereinafter defined) issued by HDFC Bank Limited (“HDFC Bank”). These Terms and Conditions shall be in
addition to and not in derogation to any other terms as stipulated by HDFC Bank, from time to time.
These terms and any attachments or accompanying supplement(s) shall also include the terms and conditions provided
on the HDFC Bank’s Website (together "the Terms”) and shall govern the usage of the Co-branded GiftCard.
1. DEFINITIONS
Unless there is anything in the subject or context inconsistent therewith, the
capitalised terms listed below shall have the following meanings:
"Account" shall mean any savings/current account of the Cardholder with HDFC Bank;
"Alerts" shall mean the customised messages sent as short message service over mobile phone or as message
via electronic mail to the Cardholder based on instructions set or placed by the Cardholder and/ or HDFC Bank;
"Applicable Law" shall mean and include all applicable statutes, enactments or acts of any legislative body
in India, laws, ordinances, rules, bye-laws, regulations, notifications, guidelines, policies, directions,
directives and orders of any governmental authority and any modifications or re-enactments thereof;
"Applicant" shall mean (a) the person who makes an application by submitting the Application Form for
issuance by HDFC Bank of the Co-branded GiftCard(s) to the Cardholder, or (b) the Corporate who requests for the
issuance of the Co-branded GiftCard(s) pursuant to any existing arrangement entered into by it with HDFC Bank for
issuance of, inter alia, the Co-branded GiftCard(s);
"Application Form" shall mean the application form duly filled and submitted by the Applicant for issuance
of the Co-branded GiftCard to the Cardholder, including all annexures and mandates thereto;
"Card Balance" shall mean the balance loaded onto the Co-branded GiftCard(s), from time to time;
"Cardholder" shall mean the individual to whom HDFC Bank has issued the Co-branded GiftCard(s) based on the
Application Form submitted by the Applicant for issuance of the Co-branded GiftCard to such individual;
"Co-branded GiftCard(s)" shall mean the co-branded gift card bearing the name Phoenix Gift Cards issued by
HDFC Bank to the Cardholders pursuant to these Terms and Conditions;
"Co-branding Partner" shall mean Phoenix Mills Limited, a company within the meaning of the Companies Act,
2013 and having its registered office at 462 Senapati Bapat Marg, Lower Parel, Mumbai - 400013;
"Co-branding Partner Mall(s)" shall mean the malls and shopping complexes which are owned, developed and/ or
managed by the Co-branding Partner in India, the details whereof are set out on the website of the Co-branding
Partner and accessible at
http://phoenixpalladium.com;
"Corporate" shall mean the body corporate(s) who have entered into an arrangement with HDFC Bank in respect
of the issuance to such body corporate’s employees/ officers/ associates, certain prepaid cards including without
limitation the Co-branded GiftCards;
"Customer Care" shall mean the telephonic customer service facility to the Cardholders for any Co-branded
GiftCard related queries, which number is set out in the back of the Co-branded GiftCard;
"HDFC Bank Website" refers to www.HDFCbank.com, which is owned, operated and maintained by HDFC Bank;
"KYC Guidelines" shall mean the master direction issued by the Reserve Bank of India dated February 25, 2016
bearing No. DBR.AML.BC.No.81/14.01.001/2015-16 titled Master Direction - Know Your Customer (KYC) Direction, 2016
and all other applicable ‘know your customer’ directions or guidelines issued by the Reserve Bank of India;
"Outlet(s)" shall mean each merchant outlet at any of the Co-branding Partner Malls engaged in the sale of
products and/ or services;
"PPI Master Directions" shall mean the master direction issued by the Reserve Bank of India titled ‘Master
Direction on Issuance and Operation of Prepaid Payment Instruments’ dated October 11, 2017, bearing reference number
RBI/ DPSS/ 2017-18/ 58 Master Direction DPSS.CO.PD.No. 1164/02.14.006/2017-18;
"Transaction(s)" shall mean any transaction(s) (including card-not-present transactions) effected by
utilising the Co-branded GiftCard(s).
2. INTERPRETATION
In these Terms and Conditions, unless the context otherwise requires:
(a) the singular includes the plural, and vice versa and words of any gender are deemed to include the other
genders;
(b) the terms “hereof”, “herein”, “hereby”, “hereto” and derivatives or similar words refer to these Terms and
Conditions;
(c) references to the words “include” or “including” shall be construed without limitation;
(d) reference to any paragraph shall mean a paragraph of these Terms and Conditions;
(e) reference to any legislation, law, circular or regulation or to any provision thereof shall include references
to any such legislation, law, circular or regulation, as it may, after the date hereof, from time to time, be
amended, supplemented or re-enacted, and any reference to a statutory provision shall include any subordinate
legislation made, from time to time, under that provision;
(f) the term “person” includes an individual, a partnership firm, a limited liability partnership, a company (as
defined in section 2(20) of the Companies Act, 2013), a body corporate (as defined in section 2(11) of the Companies
Act, 2013), a co-operative society, a trust, an association of persons whether incorporated or not and any other
entity;
(g) heading and bold typeface are used only for convenience and shall not affect the interpretation of these Terms
and Conditions.
3. APPLICATION FOR AND ISSUANCE OF GIFTPLUS CARD
(a) With respect to the issuance of the Co-branded GiftCard, the Applicant shall submit to HDFC Bank the complete
Application Form and the information/ documents required by HDFC Bank to be submitted along with the Application
Form including, without limitation, such information and documents as HDFC Bank may require in respect of the person
to whom the Co-branded GiftCard is required to be issued.
(b) The Applicant shall, at the time of submitting the Application Form and documents in terms of paragraph 3.1
above, make payment of the amount to be loaded on the Co-branded GiftCard to be issued to the Cardholder in
accordance with the procedure stipulated by HDFC Bank in this regard and Applicable Law (including, without
limitation, the PPI Master Directions).
(c) HDFC Bank may, at its sole discretion and subject to the fulfilment of such terms and conditions and completion
of such other formalities that HDFC Bank may specify from time to time, issue the Co-branded GiftCard to the
Cardholder. The Applicant acknowledges and agrees that the issuance of the Co-branded GiftCard shall be the sole
prerogative of HDFC Bank and nothing contained in these Terms and Conditions (including, without limitation, the
submission of the Application Form and/ or loading of amounts on to the Co-branded GiftCard in terms of paragraph
3.2 above) should be construed as obliging HDFC Bank to issue the Co-branded GiftCard to any Cardholder.
(d) In the event that the application made by the Applicant is rejected by HDFC Bank, the amounts paid by the
Applicant (if any) shall be refunded by HDFC Bank by crediting such amount to the Account from which such payment
was effected by in favour of HDFC Bank.
(e) It is hereby expressly clarified that the provisions of this paragraph 0 shall not be applicable in the event
that the Cobranded GiftCard is being issued by HDFC Bank at the request of any Corporate pursuant to the existing
arrangement between the Corporate and HDFC Bank for issuance of, inter alia, the Co-branded GiftCards.
4. ACTIVATION OF THE GIFTPLUS CARD
(a) The Cardholder and the Applicant hereby acknowledge and agree that the Co-branded GiftCard will be
preactivated.
(b) The Co-branded GiftCard shall be
activated subject to: (a) the provision by
the Cardholder and the Applicant to
HDFC Bank (and/ or its business
correspondents/ sub-contractors) of such
documents as HDFC Bank may require
to conduct its ‘know your customer’
(“KYC”) checks as well as any other
documents required by HDFC Bank; (b)
the successful completion of the KYC
checks in respect of the Cardholder and
the Applicant by HDFC Bank; and (c) the
provision by the Cardholder of such other
information, details and documents as
HDFC Bank may require in this regard.
(c) Notwithstanding anything to the
contrary contained herein, the Cardholder
and the Applicant acknowledge and agree
that, in the event that there is any
discrepancy in the KYC provided by the
Cardholder and/ or the Applicant and/ or
non-compliance of the Cardholder and/
or the Applicant with these Terms and
Conditions, the KYC Guidelines and/ or
the PPI Master Directions, HDFC Bank
shall be entitled, at its sole discretion, to
immediately cancel/ suspend/ block the
Co-branded GiftCard and shall not be
liable for any inconvenience caused to
the Cardholder and/ or the Applicant in
this regard.
5. USAGE OF THE CO-BRANDED GIFTCARDS BY THE CARDHOLDER
(a) The Cardholder and the Applicant acknowledge and agree that:
i. the Co-branded GiftCard is valid only in India and only with respect to payments required to be made in Indian National Rupees;
ii. the Co-branded GiftCard is strictly not
transferable and is the property of HDFC
Bank;
iii. the Cardholder shall be able to use the
Co-branded GiftCard only to the extent
of the Card Balance available at any
given point of time;
iv. no reload option is available in respect
of the Co-branded GiftCard;
v. no cash withdrawal will be allowed on
the Co-branded GiftCard;
vi. no interest shall be payable by HDFC
Bank on the Card Balance;
vii. the Cardholder and the Applicant
shall comply with all Applicable Law.
(b) The usage of the Co-branded
GiftCard shall be governed by these
Terms and Conditions and all policies,
guidelines and instructions provided by
HDFC Bank, from time to time, in
relation to the Co-branded GiftCard.
(c) Notwithstanding anything to the
contrary contained herein, the Cardholder
and the Applicant hereby acknowledge
and agree that the list of Outlets at which
the Co-branded GiftCard may be utilised
may vary from time to time and the
Cardholder shall solely look to the Cobranding
Partner for the list of the Outlets
at which the Co-branded GiftCard may
be utilised. The Cardholder and the
Applicant further acknowledge and agree
that HDFC Bank shall not be involved or
be responsible for the list of Outlets at
which the Co-branded GiftCard is
utilisable and/or liable to the Cardholder
and/ or any other person for any
modification in the Outlets and/ or any
losses, damages or defaults which may be
incurred by such Cardholder and/ or any
other person in connection with or due to
any modification in the Outlets at which
the Co-branded GiftCard may be utilised.
(d) Each time a Cardholder uses the Cobranded
GiftCard to effect a Transaction,
the Cardholder acknowledges and agrees
that the Card Balance shall stand reduced
by the value of the Transaction. The
Cardholder acknowledges and agrees that
notwithstanding anything to the contrary
contained herein, HDFC Bank may, in its
absolute discretion, decline to honour any
Transaction sought to be effected by
utilising the Co-branded GiftCard despite
there being sufficient Card Balance to
complete such Transaction, without
having to assign any reason thereof.
(d) Each time a Cardholder uses the Cobranded
GiftCard to effect a Transaction,
the Cardholder acknowledges and agrees
that the Card Balance shall stand reduced
by the value of the Transaction. The
Cardholder acknowledges and agrees that
notwithstanding anything to the contrary
contained herein, HDFC Bank may, in its
absolute discretion, decline to honour any
Transaction sought to be effected by
utilising the Co-branded GiftCard despite
there being sufficient Card Balance to
complete such Transaction, without
having to assign any reason thereof.other technologies for authenticating
Transactions and the Cardholder agrees
and undertakes to do all such acts, deeds
and things as HDFC Bank may require in
this regard.
(f) Notwithstanding anything to the
contrary contained herein, the Cardholder
hereby agrees and acknowledges that the
Co-branded GiftCard shall not be utilised
to effect any transaction which is not
permitted under the Applicable Law.
(g) The Cardholder shall ensure the
following:
6. LOST OR STOLEN GIFTPLUS CARD
If the Co-branded GiftCard is lost or stolen, the Cardholder must immediately report such loss/ theft over the telephone to the Customer Care. On receipt of any such intimation HDFC Bank shall, during working hours on a working day, upon adequate verification of the Cardholder, hotlist/ cancel/ suspend/ block the Co-branded GiftCard and terminate all facilities in relation thereto and shall not be liable for any inconvenience caused to the Cardholder in this regard. The Cardholder will be liable for all charges incurred on the Co-branded GiftCard until the Co-branded GiftCard is reported lost/ stolen. Further, in the event HDFC Bank determines the aforementioned steps are not complied with, the financial liability with regard to the lost or stolen Co-branded GiftCard would rest entirely with the Cardholder. In case of any dispute relating to the time of reporting Transaction(s) made on the Co-branded GiftCard or any other matter in relation to the lost/ stolen Co-branded GiftCard, the determination of HDFC Bank shall be conclusive and binding on the Cardholder.
7. SURRENDER OF THE GIFTPLUS CARD
(a) The Cardholder acknowledges and agrees that HDFC Bank shall be entitled to demand the surrender of the Co-branded GiftCard at any time, including at a time prior to the expiry of the validity period of such Co-branded GiftCard. The Cardholder shall, forthwith upon such demand being made, surrender the relevant Co-branded GiftCard in accordance with the instructions provided by HDFC Bank in this regard.
(b) In the event of death of any Cardholder, HDFC Bank shall cancel the Co-branded GiftCard upon being informed of the same.
8. VALIDITY
(a) Subject to Paragraph 0 below, the Co-branded GiftCards shall be valid up to a period specified on the face of the Co-branded GiftCards or such other period as may be prescribed under the Applicable Law from time to time.
(b) Notwithstanding anything to the contrary contained herein, HDFC Bank shall be entitled to, at any time, with or without notice to the Cardholder and/ or the Applicant, at its absolute discretion, terminate / de-activate the Co-branded GiftCard.
(c) The Cardholder agrees to surrender the Co-branded GiftCard to HDFC Bank or its representative, upon being requested to do so and shall not use or attempt to use the Co-branded GiftCard after termination / de-activation of such Co-branded GiftCard.
(d) The Cardholder may, at any point of time, request for deactivation of the Co-branded GiftCard by contacting Customer Care and submitting such documentation as may be required in line with HDFC Bank’s policies and guidelines in this regard. Cash-out or refund or funds transfer shall not be permitted for Gift cards. In case of expired/ hotlisted card, balances will be transferred to new card to the same beneficiary.
0
(e) The Cardholder agrees and confirms that any unclaimed balance amount will be transferred to the Depositor Education and Awareness Fund Scheme as per Reserve Bank of India guideline.
9. STATEMENTS AND RECORDS
(a) All records maintained by HDFC Bank, whether in electronic or documentary form, in respect of the Co-branded GiftCard / Transactions (including, without limitation, details of the payments made or received pursuant to these Terms and Conditions), shall as against the Cardholder and the Applicant, be deemed to be conclusive evidence.
(b) HDFC Bank shall not be liable to provide copies of the Transaction slips and/ or any statements in respect of the Co-branded GiftCard to any Cardholder with respect to any Transaction and the Cardholder will only receive Alerts through short message service message on the mobile number registered by the Cardholder with HDFC Bank. the transaction statements can be accessed on the HDFC Bank GO Card Mobile App by the user.
(c) The Cardholder hereby agrees to not receive the physical statements being sent to the Cardholder in respect of the Co-branded GiftCards and that the transaction statements can be accessed on the HDFC Bank GO Card Mobile App by the user.
10. INDEMNITY
In consideration of HDFC Bank providing the Cardholder with the Co-branded GiftCard, the Cardholder and the Applicant hereby expressly and unequivocally agree to indemnify, save, defend and hold harmless, HDFC Bank and its officers, directors, employees, shareholders, agents, consultants and other representatives indemnified from and against all actions, claims, suits, demands, proceedings, losses, damages, personal injury, costs, charges and expenses of any nature whatsoever which HDFC Bank and its officers, directors, employees, shareholders, agents, consultants and other representatives may, at any time, incur, sustain, suffer or be put to incur, sustain or suffer, as a consequence of, or by reason of or arising out of provision of the Co-branded GiftCards including, without limitation, in the following cases: (a) the negligence, mistake or misconduct of the Cardholder and/ or the Applicant; (b) breach or non-compliance by the Cardholder and/ or the Applicant of the these Terms and Conditions or any Applicable Law; (c) any claim made or proceeding commenced by any third party against HDFC Bank, in relation to or in connection with the issuance/ usage of the Co-branded GiftCard and/ or any Transaction; (d) any action taken or omitted to be taken by HDFC Bank, its officers, employees or agents, on the instructions of the Cardholder and/ or the Applicant; and/ or (e) fraud or dishonesty relating to any Transaction by the Cardholder.
11. EXCLUSION FROM LIABILITY
Without prejudice to any other provisions of these Terms and Conditions, HDFC Bank shall not be liable to the Cardholder and/ or the Applicant for any loss or damage whatsoever or however caused or arising, whether directly or indirectly, in connection with these Terms and Conditions, including, without limitation, any loss or damage arising from: (a) the refusal of any person to honour or to accept the Co-branded GiftCard; (b) handing over of the Co-branded GiftCard by the Cardholder or by the Applicant to any person other than a representative of HDFC Bank at the time of the surrender of the Co-branded GiftCard; and/ or (c) any interruption or stoppage in the Cardholder's access to and/ or the use of the Co-branded GiftCard.
12. CHARGES
(a) HDFC Bank shall be entitled to levy fees and other charges for use of the Co-branded GiftCard, which charges shall be set out on HDFC Bank Website, from time to time, to the Cardholder and the Applicant by HDFC Bank. The Cardholder and the Applicant hereby agrees to make payment of such charges.
(b) Any government charges, duty, debits or tax payable as a result of the use of the Co-branded GiftCard shall be borne solely by the Cardholder/ Applicant and if the same is imposed upon HDFC Bank (either directly or indirectly), the Cardholder/ Applicant hereby agrees to make payment of such charges.
(c) Without prejudice to the Cardholder’s/ Applicant’s obligation to make payment of the fees, charges, duties or taxes payable in respect of the Co-branded GiftCard and the use thereof, HDFC Bank shall be entitled to recover all amounts due from the Cardholder/ Applicant to HDFC Bank including, without limitation, the amounts payable in terms of paragraph 12.1 above and paragraph 12.2 above by debiting the available Card Balance.
13. DISPUTES
(a) HDFC Bank shall not in any manner be responsible for any disputes regarding goods and services purchased by the Cardholder using the Co-branded GiftCard including, without limitation, the quality, value, warranty, delay of delivery, non-delivery, non-receipt of any goods or services. The Co-branded GiftCard is only a mode available to the Cardholder to make payment to merchants and any disputes relating to the goods or service purchased by the Cardholder, which arise for any reason whatsoever, should be resolved by the Cardholder with the merchant directly and HDFC Bank shall have no obligation or responsibility in respect thereof.
(b) HDFC Bank shall not be liable to the Cardholder and the Applicant in respect of any loss or damage arising directly or indirectly out of: (a) any unauthorized use of the Cardholder's/ Applicant’s mobile phone number; (b) any error, default, delay or inability of HDFC Bank to act on all or any of the Alerts; (c) any loss of any information/instructions/Alerts in transmission; (d) any unauthorized access by any other person or any information/ instructions given by me or breach of confidentiality.
(c) The Cardholder shall inform HDFC Bank, by contacting the Customer Care, within 45 (Forty Five) days of occurrence of any Transaction, if any irregularities or discrepancies exist in such Transaction or if such Cardholder has any query or complaint in relation to the Transaction. If HDFC Bank does not receive any information to the contrary within 45 (Forty Five) days of occurrence of any Transaction, it shall be entitled to assume and proceed on the basis that the relevant Transaction(s) was effected without any irregularity/ discrepancy.
(d) In respect of any complaints/ query raised by the Cardholder and/ or the Applicant in terms of these Terms and Conditions, the Cardholder and/ or the Applicant shall be required to promptly provide HDFC Bank with all such information and documents as may be required by HDFC Bank in this regard.
(e) Please note that HDFC Bank does not ask its customers for any confidential information, and therefore the Cardholder and/ or the Applicant must not share any information of a confidential nature including, without limitation, passwords, user-IDs, etc., to any person who asks for the same. For full details regarding our complaints procedure, please refer to the HDFC Bank Website.
14. EXPRESS CONSENT/ WAIVER FOR DISCLOSURE OF INFORMATION
(a) The Cardholder and the Applicant hereby authorise HDFC Bank and/ or its associates to verify any information or otherwise at the Cardholder’s and/ or the Applicant’s office/ residence or to contact the Cardholder (and/ or the Applicant)/ the Cardholder’s employer (and/ or the Applicant’s employer)/ banker/ credit bureaus/ the Reserve Bank of India or any other source to obtain or provide any information that may be required for confirming membership requirements or maintaining the Cardholder’s/ Applicant’s Account in good credit standing.
(b) Notwithstanding anything to the contrary contained herein, the Cardholder and the Applicant hereby expressly consent and authorise HDFC Bank (whether acting by itself or through any of its service providers, and whether in automated manner or otherwise), to do and undertake any of the following, in relation to any information in respect of the Cardholder and/ or the Applicant including, without limitation, any information contained in the documents submitted/ executed by the Cardholder and/ or the Applicant and/ or any other information relating to the Cardholder and/ or the Applicant and the usage of the Co-branded GiftCard collected by HDFC Bank now or hereafter, any personal data and sensitive information about the Cardholder and/ or the Applicant, information, papers and data relating to know-your-customer, credit information, and any other information whether about the Cardholder and/ or the Applicant (collectively, “Information”):
i. to collect the Information from the Cardholder and/ or the Applicant and other physical or online sources including, without limitation, accessing the same from credit information companies, websites, data bases and online platforms (whether public or not), to get the authenticity, correctness, adequacy, etc. of the Information verified from any sources and persons including, without limitation, from online data bases; and to act for and on the Cardholder’s and/ or the Applicant’s behalf for such accessing, collecting or verifying of the Information including, without limitation, using the Cardholder’s and/ or the Applicant’s log in and password credentials on the online platforms; such collection, access and verification may be done without any notice to the Cardholder and/ or the Applicant;
ii. process Information including by way of storing, structuring, organising, reproducing, copying, using, profiling, etc. as may be deemed fit by HDFC Bank;
iii. to store the Information for such period as may be required for contract, by law or for HDFC Bank’s evidential and claims purposes, whichever is longer;Mbr>
iv. disclose, exchange, share or part with, from time to time without notice to the Cardholder and/ or the Applicant, the Information to any other person including, without limitation, any card issuer, credit bureau, banks, financial institutions, any branch, parent/ subsidiary, affiliate, group companies and associates of HDFC Bank, governmental/ regulatory authority, service provider, business correspondent, agent or third party sub-contractor, consultants, credit information companies, regulators, investigating agencies, judicial, quasi-judicial and statutory authorities for such purposes that HDFC Bank may deem fit. The
Cardholder and the Applicant hereby waive the privilege of privacy.
(c) The Cardholder and the Applicant hereby authorise HDFC Bank to record specific conversations between the Cardholder/ Applicant or the Cardholder’s/ Applicant’s representative and HDFC Bank's representative, in case of grievance related conversations or payment recovery related conversations or any other conversation that HDFC Bank may deem fit, at its own discretion.
(d) The Cardholder and the Applicant hereby consent to receiving information/ service for marketing/ cross-selling purposes through telephone/ mobile/ short message service/ e-mail or any other mode from HDFC Bank and/ or its agents. The Cardholder and the Applicant understand that in case that the Cardholder and/ or the Applicant do not wish to receive promotional information through telephone calls/ emails/ short message service on products and services not currently availed by the Cardholder and/ or the Applicant, the Cardholder and/ or the Applicant can register for “Do Not Call” service through the HDFC Bank Website or through phone banking or other channels that HDFC Bank may offer. The Cardholder and the Applicant agree that this service will not apply to receipt of advice and information regarding products and services currently availed by the Cardholder/ Applicant, to help the Cardholder/ Applicant in fully realising the benefits of the range of financial solutions designed to make the Cardholder’s/ Applicant’s banking relationship value added and more convenient.
15. GOVERNING LAW AND JURISDICTION
(a) The construction and validity of these Terms and Conditions shall be governed in all respects by the laws of India. The Cardholder and the Applicant agree that any legal action or proceeding arising out of these Terms and Conditions shall be brought before the courts or tribunals at Mumbai and irrevocably submit themselves to the jurisdiction of that court or tribunal. HDFC Bank may, however, in its absolute discretion, choose to commence any legal action or proceedings arising out of these Terms and Conditions in any other court, tribunal or other appropriate forum and the Cardholder and the Applicant hereby consent to such jurisdiction and waives any objection that the Cardholder and the Applicant may have now or in the future to the laying of the venue of any such legal action or proceedings and any claim that any such legal action or proceedings have been brought in an inconvenient forum.
16. SET-OFF AND LIEN
Conditions or any other document/ arrangement: (a) in respect of all and any of the Cardholder’s and the Applicant’s present and future liabilities to HDFC Bank, whether under this document or under any other obligation/ loan/ facilities/ borrowings/ document, whether such liabilities are/ be crystallised, actual or contingent, primary or collateral or several or jointly with others, whether as principal debtor and/ or as guarantor and/ or otherwise howsoever (collectively “Liabilities”), HDFC Bank shall in addition to any general lien or similar right to which it as a banker may be entitled by Applicable Law, practice, custom or otherwise, have a specific and special lien on all the Cardholder’s and the Applicant’s present and future stocks, shares, securities, property, book debts, all moneys in all Accounts whether current, savings, overdraft, fixed or other deposits, held with or in custody, legal or constructive, with HDFC Bank, now or in future, whether in same or different capacity of the Cardholder and the Applicant, and whether severally or jointly with others, whether for any banking relationship, safe custody, collection, or otherwise, and (b) separately, HDFC Bank shall have an express right to, without notice to and without consent of the Cardholder and of the Applicant, set-off, transfer, sell, realise, adjust, appropriate all such amounts in all Accounts (whether prematurely or upon maturity as per HDFC Bank’s discretion), securities, amounts and property as aforesaid (whether earmarked for any particular Liability or not) for the purpose of realising or against any of dues in respect of any of the Liabilities and to combine or consolidate all or any of Accounts of the Cardholder and to set-off any monies, whether of same type or nature or not and whether held in same capacity or not including upon any default in payment of any part of any of the Liabilities when due in terms of such documents.
17. NOTIFICATION OF CHANGES
(a) HDFC Bank shall have the absolute discretion to, at any point of time, (a) amend or supplement any of these Terms and Conditions; and/ or (b) change any feature and/ or benefit offered on the Co-branded GiftCard including, without limitation, changes which affect charges or rates and/ or method of calculation of charges with respect to the Co-branded GiftCard. HDFC Bank shall communicate the amended terms, the changes made to the features of the Co-branded GiftCard, and the revised interest, charges and rates with respect to the Co-branded GiftCard, by hosting the same on the HDFC Bank Website or in any other manner as may be decided by HDFC Bank, from time to time. The Cardholder and the Applicant shall be responsible for regularly reviewing the latest versions of the Terms and Conditions as may be posted on the HDFC Bank Website, from time to time, and shall be deemed to have accepted the amended Terms and Conditions by continuing to use the Co-branded GiftCard after the amended Terms and Conditions are hosted on the HDFC Bank Website.
(b) The Cardholder and the Applicant acknowledge, agree and confirm that HDFC Bank may, in relation to these Terms and Conditions and / or the Co-branded GiftCard, utilise such business correspondents / third party sub-contractors / agents / service providers as it may deem fit.
(c) The Cardholder and the Applicant hereby acknowledge, agree and confirm that the Cardholder and the Applicant have read and understood HDFC Bank's customer protection policy available on the HDFC Bank Website (https://www.hdfcbank.com/assets/pdf/Customer-Protection-Policy.pdf) and acknowledge and agree to be bound by the same in respect of the Co-branded GiftCard including without limitation in case of use of the Co-branded GiftCard by a person other than the Cardholder.
(d) The Cardholder and the Applicant acknowledge, agree and confirm that these Terms and Conditions are solely between HDFC Bank and the Cardholder/ Applicant and no other third party has any rights or obligations hereunder.
(e) The Cardholder accepts the Terms and Conditions by usage of the Co-branded GiftCard and on the first usage of the Co-branded GiftCard, the Terms and Conditions shall represent the agreement between the Cardholder and HDFC Bank with respect to the Co-branded GiftCard and the subject matter of these presents.