By agreeing to the use of Paydoh and by accessing these Terms and Conditions of this Paydoh app (referred to as “Paydoh”, “Us”, “Our”) and User (referred to as “I”, “Me”, “My”, “You”, “Yours”) accept the mentioned Terms and Conditions, including the Terms of Use (“TOU”).  

These Terms and Conditions including Terms of Use (“TOU”) are an electronic record in terms of the Information Technology Act, 2000 (“IT Act, 2000”), the applicable rules there under, and the provisions pertaining to electronic records in various statutes as amended by the IT Act, 2000. This electronic record is generated by a computer system and does not require any physical or digital signatures. This document is published in accordance with the provisions of Rule 3(1) of the Information Technology (Intermediaries Guidelines) Rules 2011, that require publishing the rules and regulations, privacy policy and terms of use for access to or usage of the Paydoh app. 

Definitions  

Following are the definitions of the phrases used in these Terms and Conditions. 

• Partner Bank: - means the bank which Paydoh has partnered with, for offering services to the user through the platform of Paydoh. Currently, Paydoh has partnered with Karur Vysya Bank for the opening of saving account and providing requisite Services. 

• KVB: - means Karur Vysya Bank in these terms and conditions hereinafter referred to as “KVB”. 

• Saving Account: - It is a deposit account held with a Partner Bank (“KVB”) to manage your savings, expenses, and investments.  

• Personal information/details: - means the information/details provided by you to Paydoh. 

• Know Your Customer (“KYC”): - means the various laws and regulations issued by the RBI from time to time. To fulfil such KYC requirements, Paydoh procures personal identification details from You before any Services can be delivered. 

• Branch: - means any branch of Partner Bank located in India. 

• User: - means an individual who opens an account with Paydoh or otherwise downloads the Paydoh App to avail of the services offered by Paydoh on its platform.  

• Charge(s): - means an amount that is charged by Paydoh or its Partner Bank for the provision of Banking or other services on offer in the Paydoh app, including charges collected on behalf of a third-party service provider for which prior user acceptance has been obtained and charges levied by way of fines for non-fulfilment of agreed covenants on the part of the user. 

  
  

• Debit Card: - a card allowing the cardholder to transfer money electronically from KVB saving account for availing the services. 

  
  

• Service Provider: - means any contractor or service provider who provides or renders services in connection with us directly or indirectly. 

  
  

• NBFC: - means and includes any partner NBFC that Paydoh has partnered with, towards offering any Services to the user.

  
  

• Party or Party’s: - The Paydoh/KVB and you are collectively called as Party’s And individually as Party.

  
  

• Third-party: - means a person or a group of persons or any legal entity or any organisation other than Paydoh/KVB and User.

  
  

• Service(s): - means the following services offered by Paydoh to the User:

  -Saving, deposit, account

  - Co-branded debit and credit card

  - Paydoh rewards and offers

  - E-commerce and online purchases

  - Investments

  - Insurance Services permitted by IRDAI

  - Online payment and receipt of money

  - Unified Payments Interface (UPI)

  - Loans - Credit Bureau Score check

  - Quick Response Codes

  - Convenience enhancing features including, but not limited to Split Bill, Budget Book, etc.

  - Any other product or service offered by Paydoh in future

  
  

These terms and conditions outline the rules and regulations for the use of the Paydoh app and Paydoh products and Services.

Notice (Consent of USER)

1. I agree to abide by Paydoh’s Terms and Conditions and rules in force and the changes thereto in Terms and Conditions from time to time relating to my account as communicated and made available on Paydoh App.

2. I agree that I am a resident of India and also eligible to open an account on Paydoh app as per existent RBI regulations.

3. (If you are a minor) I agree that the account shall be opened by my parent/ legal guardian and controlled by me after the successful authentication of “KYC” of me and my parent(s)/legal guardian.

   
   

4. I agree that, If I am a minor of less than 18 years, I undertake to abide by the Terms and Conditions (including Terms of Use) for services provided by Paydoh/KVB, and which have been agreed to by my Parent/Legal Guardian in accordance with the Indian Contract Act 1872.

   
   

5. I agree that, if I am a FATCA reportable user this account opening process is not for me.

   
   

6. I agree that Paydoh and/or KVB before opening any deposit account will carry out due diligence as required under Know Your Customer (“KYC”) including Video KYC, guidelines of KVB. I would be required to submit necessary documents or proofs, such as identity documents, address proof, photographs, and any such information to meet KYC, AML, or other statutory/regulatory requirements. Further, after the account is opened, in compliance with the extant regulatory guidelines, I agree to submit the above documents again at periodic intervals, as may be required by Paydoh and/or KVB.

   
   

7. I hereby submit voluntarily at my own discretion, my Aadhaar details (including Name, Aadhar no, address, DOB, gender, photograph linked with my Aadhar, and contact no linked with my Aadhar) as per the Aadhar Card issued by Govt. of India, to KVB and voluntarily give my consent to open an account with KVB in my individual capacity using my Aadhaar number and as an authorized signatory in non-individual accounts and; to retrieve information from Credit Bureaus, to share information with Credit Bureaus, to use my Aadhaar details for authentication with UIDAI, to get information from NSDL and other regulatory agencies like C-KYC registry and aggregators.

   
   

8. I, holder of the Aadhaar number, hereby voluntarily give my consent to Paydoh and KVB to obtain and use my Aadhaar number, Name and Fingerprint/Iris, and my Aadhaar details for authentication with UIDAI as per Aadhaar Act, 2016 and all other applicable laws.

   
   

9. I agree that Paydoh/KVB has informed me that my information submitted to KVB / Paydoh herewith shall not be used for any purpose other than mentioned above, or as per requirements of law. However, opening an account is subject to rules and regulations introduced or amended from time to time by KVB and/or Paydoh.

   
   

10. I agree that I will have restricted facilities in line with the Aadhar OTP account till full KYC is completed and I will not hold Paydoh or KVB responsible for such restricted facilities till the completion of full KYC.

11. I agree that after the successful completion of Aadhar OTP verification, the name on my account shall be as per the name appearing on my Aadhar Card.

12. I agree that till the completion of full KYC, I shall comply with the Terms and Conditions of the Aadhar OTP based account.

    
    

13. I agree that my account with Paydoh and/or KVB shall be closed if full KYC is not completed within 365 days from the Aadhar OTP based account opening date.

    
    

14. I agree that, Paydoh and KVB reserve the right to reject the application in case of any wrong or misleading, or fraudulent information given by me for account opening purposes and in case of any false/inappropriate report lodged by me to necessary authorities.

    
    

15. I hereby declare and understand that all the information is voluntarily furnished by me for opening the account under the digital mode with Paydoh and KVB and is true, valid, correct and complete and I agree that I will not hold Paydoh or KVB, or any of its officials, responsible in case of any incorrect information provided by me.

    
    

16. I agree that even after the account activation KVB reserves the right to freeze all debits from an account in the case of any apprehension of fraud or on notice from a regulatory authority.

    
    

17. I agree that Paydoh and/or KVB may, at its own discretion, discontinue any of the services completely or partly without serving any notice to me.

    
    

18. I agree that Paydoh and/or KVB can at its sole discretion, amend any of the services/facilities given in my account either wholly or partially at any time and/or provide an option to me to switch to other services/facilities.

    
    

19. I agree to provide the necessary/mandatory details (Mobile no, Email address, etc.) for communication (including digital communication) at the time of submission of said details to Paydoh and I also agree that Paydoh shall not bear any liability for any loss out of my failure to do so. Any change in my necessary/mandatory details during or after the account opening/handling shall be immediately informed to Paydoh/KVB. In failing to do so, I shall be responsible for any loss/damage/charge/wrongful act arising out of it or any non-receipt of communication/deliverables or the same being delivered at my old address.

    
    

20. I agree that all instructions relating to my account will be issued to Paydoh and/or KVB as per a mode of communication acceptable to Paydoh and/or KVB.

    
    

21. I agree to preserve my ATM/Debit card carefully and also keep the information with regards to the said debit card, including card number, expiry date, PIN, CVV, and One Time Password (OTP) confidential.

    
    

22. I agree that I will maintain the minimum balance, if any, in my account as prescribed by Paydoh and/or KVB from time to time.

    
    

23. I agree that I shall be liable to pay all charges, fees, interest, and costs wherever applicable, which Paydoh and/or KVB may levy with respect to my account for any transaction or services rendered, and the same may be recovered by Paydoh and/or KVB by debit to my account.

    
    

24. I agree that Paydoh and KVB reserve the right to refuse Ad Hoc Statements, Phone Banking PINs, Internet Banking IPINs, /ATM Cards & PINs to the user, in case the Average Monthly/ Quarterly Balance requirement in the account, if any, is not maintained.

    
    

25. I agree that I shall not pay any amount in cash to any Sales Representative of Paydoh and/or KVB at the time of opening an account or carrying out any transaction in the normal course of the business. I agree to deposit cash only at the KVB teller counters at the branch premises or in Cash deposit machines.

    
    

26. I agree that Paydoh and/or KVB will send me messages/ in-app notices/notifications/ communications/ letters etc. through SMS/Paydoh App/courier/messenger/mail/call/ WhatsApp or through any other mode at its discretion and Paydoh and/or KVB shall not be liable for any delay arising therefrom.

    
    

27. I hereby consent to receive information from Central KYC Registry through SMS/Email on my registered mobile number/email address.

    
    

28. I agree that, in the event of an account being overdrawn, KVB reserves the right to set off this amount against any credit lying in any of my accounts.

    
    

29. I hereby agree and give consent for the disclosure by Paydoh and KVB of all or any such, information and data relating to me and to use discovered transactional information and data of the User only in such manner that helps to monitor experience and improves choices of User.

    
    

30. I hereby agree that I will keep Paydoh updated on all and any changes in my demographic details.

    
    

31. I hereby agree that I shall not hold Paydoh liable for any loss resulting in a delay in updating information.

    
    

32. I agree that the transactions conducted by me using the Paydoh app shall be reflected digitally on my Paydoh app within 24 hours.

33. I agree that Paydoh and/or KVB shall not be liable for any damages or losses (direct or indirect) whatsoever, due to disruption or non-availability of any of services/facilities due to technical fault/error or any technology /data download-related costs related to the usage of the app or any failure in the telecommunication network or any error in any software or hardware systems or any network related outages beyond the control of Paydoh and KVB.

    
    

34. I agree that Paydoh and/or KVB may disclose, in strict confidence, to other institutions, such Personal Information as may be reasonably necessary for reasons including: - For Participation in any telecommunication or electronic clearing network - - - - In compliance with a legal/ regulatory directive For credit rating by recognized credit rating agencies For fraud prevention purposes To credit information bureaus.

    
    

35. I give consent to Paydoh and/or KVB to disclose information provided in the account opening form for the purpose of cross-selling and provision of services to any vendor/ agent/s and/or contractors with whom Paydoh and/or KVB has entered / enters in the future into any arrangement, in connection with providing of services/products, including without limitation, cross-selling of various financial products.

    
    

36. I give consent to Paydoh and/or KVB as per Information Technology Act 2000, section 6A, Section 7.

    
    

37. I agree that by accepting these Terms and conditions I am entering into a contract of Instantaneous Communication as per “The Indian Contract Act 1872”.

    
    

    
    

Declaration

Voluntary Consent: -

I am desirous to open a saving account through the Paydoh application with Karur Vysya Bank (“KVB”).

Debit Card: -

I have read and understood the terms and conditions governing the usage of the Debit Card. I accept to be bound by the said terms and conditions and to any changes made therein from time to time by Paydoh and/or KVB, at its sole discretion without any notice to me. I confirm that I am the sole account holder or account may be held jointly with my parent/legal guardian (in the case of Minor). I understand that the Debit Card shall be issued to me, after the successful activation of my account. I understand and undertake that the usage of the Debit Card shall be strictly in accordance with the Exchange Control Regulation and in event 6 of any failure to do so, I will be liable for action under the Foreign Exchange Management Act, 1999 and the amendments thereof stipulated by the Reserve Bank of India, or rules notified under the Act or any other Act governing such transactions. I accept full responsibility for my Debit Card and agree not to make any claims against Paydoh and KVB, in respect thereto. I agree that the cash deposited by me in any branch of KVB will be credited by the Bank to the Paydoh account after due verification and it will be reflected in my account from the next working day.

Saving account

I hereby confirm that I shall comply with the below criteria as applicable for an Aadhar OTP account. I also confirm to comply with any changes in these criteria as stipulated by KVB, based on regulatory changes: -

1. I agree that the aggregate balance of all the deposit accounts shall not exceed rupees one lakh. In case, the balance exceeds the threshold, the account shall cease to be operational, till the completion of full KYC.

   
   

2. I agree that the aggregate of all credits in a financial year, in all the deposit accounts taken together, shall not exceed rupees two lakhs.

   
   

3. I agree that If I shall not comply with the above due diligence guidelines in respect of the deposit account, Paydoh through KVB has the right to close the same account immediately.

   
   

4. I agree that if in case my account is blocked due to a condition breach, I agree that the principal amount on such deposits kept along with the interest accrued (if any) will be payable to me only upon completing full KYC and If the freeze is due to any statutory notices received from any Law Enforcement Agency (LEA), then it can be lifted or settled only on hearing from the respective LEA and rectifying the stipulated breach of conduct as specified by the LEA. Till such time the account will be in blocked status, even if the account is fully KYC compliant.

   
   

5. I agree that If for any reason I fail to complete the full KYC within 365 days of the opening of the Aadhar OTP based account, Paydoh through KVB would close my account forthwith without any written notice or advise, post which KVB will issue a Demand Draft for the balance in my amount, after deduction of all applicable charges, and dispatch the same to the customer communication address available in the bank records as provided at the time of opening the account.

Charges

I agree to the following charges that would be payable to either Bank or Paydoh for use of Paydoh’s services. The charges are subject to change from time to time and I consent to pay the revised charges as applicable.

• Debit Card Issuance: Rs. 200 + GST

• Debit Card Re-issuance: Rs. 200 + GST

• Service Charges: Rs. 90/Quarter

• Account Operations: Click here

• Transaction Charges: Click here

• Transaction Limits: Click here

Regulatory changes

You understand and agree that Paydoh may have to modify the Services as well as the Platform on account of any regulatory changes. In such case, if you become incapable of using all or any part of the Platform or the Services, Paydoh shall not be liable to you in any manner.

Disclosures and Rights

1. When requested by Paydoh and/or KVB, you shall provide any information, records, or certificates relating to any matter that Paydoh or KVB deems necessary. You authorize Paydoh and KVB to verify the veracity of the information furnished by whatever means or from whichever source as deemed necessary. If the data is not provided or if the same is found incorrect, Paydoh or KVB may, at its discretion, refuse provision of Banking/ other Services that are part of the Paydoh App.

2. You agree that Paydoh and/or KVB reserves the right to disclose user information in any court of competent jurisdiction, quasi-judicial authorities, law enforcement agencies, and any other wing of the Central Government or State Government of India.

3. I agree that Paydoh and/or KVB reserves the right to disclose, in strict confidence, to other institutions, such information concerning the User’s account as may be necessary or appropriate in connection to its participation in any Electronic Fund Transfer network.

4. Paydoh or KVB reserves the right to report to the RBI expenditure undertaken by its account holder in foreign currencies to ensure that the Basic Travel Quota/other permissible entitlements are not exceeded by the account holder(s) and that the Foreign Exchange Management Act, 1999 is not contravened.

Intellectual Property Rights

Paydoh grants You a personal, non-exclusive, non-transferable, limited privilege to avail the Services and make personal use of the Website and/or the Services. This license does not confer any right to download, copy, create a derivative work, modify, reverse engineer, reverse assemble or otherwise attempt to discover any source code, sell, assign, sub-license, grant a security interest in or otherwise transfer any right in the Services. You do not have the right to use any of Paydoh’s and KVB’s trade names, trademarks, service marks, logos, domain names, and other distinctive brand features. You do not have the right to remove, obscure, 8 or alter any proprietary rights (including trademark and copyright notices), which may be affixed to or contained within the Services. You will not copy or transmit any of the Services.

Third-Party Access

1. Paydoh may disclose the information you provide us to third parties: (i) where it is necessary or helpful for completing a transaction; (ii) in order to comply with any law or to comply with requirements of any government agency or court orders; (iii) to service providers who administer the Wallet or perform data processing, records management, collections, and other similar services for us, in order that they may perform those services; (iv) in order to prevent, investigate or report possible illegal activity; (v) in order to issue authorizations for transactions; and (vi) as otherwise permitted by law. Please see our Privacy Policy for further details.

2. Paydoh may (from time to time) allow its users access to third-party service provider’s websites/ mobile sites/ mobile applications through the Paydoh Account log-in credentials. In all such instances, the user would be bound by the terms and conditions of the Third Party Service Provider. Parents must ensure that they: (i) have permitted the use of the Paydoh Account log-in credentials to access such third-party websites/applications and; (ii) monitor the use of such third-party services by Minors. Paydoh would not be held liable for any damages/losses suffered due to the conduct of the user on these third-party websites.

3. All shopping and promo codes, rewards, points, etc. with regards to the shopping which shall be done by you on third-party websites through the Paydoh application are solely done by you and neither Paydoh nor KVB shall be responsible for any product/service related issues in such cases.

4. All charges to initiate third-party pecuniary transactions shall be paid out by keeping enough funds in the account.

5. Paydoh reserves the right to change/modify charges mentioned in Clause (4.) above.

6. Our Service may contain links to third-party websites or services that are not owned and controlled by us.

7. Paydoh would not share any data with any third party for marketing with which it does not have an agreement for the provision of a service.

8. Paydoh has no control over and assumes no responsibility for, the content, privacy policies, or practices of any third-party websites or services. You further acknowledge and agree that Paydoh shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any such content, goods, or services available on or through any such websites or services.

9. Paydoh strongly advises You to read the terms and conditions of any third-party websites or services that You visit.

Undertaking

I shall be liable to KVB for any monies owed to KVB from time to time in case the account is overdrawn and /debit balance is caused including KVB’s commission, interest, and other incidental charges.

Electronic communication

By using our Platform, you consent to receive communications from us electronically. Paydoh may communicate with you by email, push notifications (on the Platform), and SMS. You agree that all electronic agreements, notices, disclosures, and other communications satisfy any requirements under Applicable Law. Please let us know if the information you share with us (including your email address and other contact details) changes. Our emails/correspondence to you will be sent to the email address/correspondence address provided to us on the Paydoh app. Paydoh and KVB will assume that you have received the email once it is sent from the outbox of our email address.

Miscellaneous

(a) Termination

- Paydoh reserves the right to terminate your services in the event of any breach in these Terms and Conditions.

- Upon termination, your right to use the Service will cease immediately.

(b) Limitation of Liability

To the maximum extent permitted by applicable law. Paydoh will not be liable for any direct, indirect, incidental, special, consequential or exemplary damages/losses arising out of your use of Paydoh’s services, including damages for loss of profits, goodwill, data, or other intangible losses, even where you have been advised of the possibility of such damages/losses.

(c) “AS IS” and “AS AVAILABLE” Disclaimer

The Service is provided to You "AS IS" and "AS AVAILABLE" without warranty of any kind. To the maximum extent permitted under applicable law, Paydoh and KVB, on its own behalf and on behalf of its Affiliates and their respective licensors and service providers, expressly disclaims all warranties, whether express, implied, statutory, or otherwise, with respect to the Service, including all implied warranties of merchantability, fitness for a particular purpose, title and non-infringement, and warranties that may arise out of a course of dealing, course of performance, usage or trade practice. Without limitation to the foregoing, Paydoh provides no warranty or undertaking, and makes no representation of any kind that the Service will meet Your requirements, achieve any intended results, be compatible or work with any other software, applications, systems, 10 or services, operate without interruption, meet any performance or reliability standards or be error free or that any errors or defects can or will be corrected.

(d) Governing Law

The laws of India, excluding its conflicts of law rules, shall govern these Terms and Conditions and Your use of the Service. Your use of the Application may also be subject to other local, state, national, or international laws.

(e) Force Majeure

Except to the extent provided in these Terms and Conditions, no Party shall be liable for any default or delay in the performance of its obligations under this Agreement (i) if and to the extent such default or delay is caused, directly or indirectly, by acts of terrorism, fire, flood, lockdown, pandemic, earthquake, elements of nature or acts of God, riots, civil disorders, or any other such similar cause beyond the reasonable control of such Party, and (ii) provided the non-performing Party is without fault in causing such default or delay, and such default or delay could not have been prevented by reasonable precautions and could not reasonably be circumvented by the non-performing Party through the use of alternate sources, workaround plans or other means (including with respect to the service provider, by service provider meeting its obligations for performing disaster recovery services as described in these Terms and Conditions). Any such event or occurrence as described under this clause shall be deemed a “Force Majeure Event.”

(f) Indemnity/Indemnification

You agree to indemnify, defend and hold harmless, us, our affiliates, officers, directors, agents, and employees from and against any and all complaints, demands, claims, damages, losses, costs, liabilities, and expenses, including attorney’s fees, due to, arising out of, or relating in any way to (i) your access to or use of the Platform and/or Services; (ii) your breach of these Terms and Conditions and/or any representation made while using the Platform and/or Services, (iii) your improper use of the Platform and/or Services; or (iv) your breach of any Applicable Laws or third-party rights.

As the parent or legal guardian of the minor providing consent on behalf of the Minor, you agree to indemnify defend and hold harmless, us, our affiliates, officers, directors, agents, and employees from and against any and all complaint, demands, claims, damages, losses, costs, liabilities and expenses, including attorney’s fees, due to, arising out of, or relating in any way to (i) the minor’s use of the Platform/and or Services; (ii) the minor’s breach of these Terms and Privacy Policy and/or any representation made while using the Platform and/or Services, (iii) the minor’s improper use of the Platform and/or Services; or (iv) the minor’s breach of any Applicable Laws or third-party rights.

(g) Dispute Resolution

If You have any concerns or disputes about the Service, You agree to first try to resolve the dispute by contacting Paydoh through the Grievances Redressal process mentioned 11 in our Privacy Policy. If the amicable settlement of the dispute is not possible in the said dispute, then it shall be referred to the Arbitration and conciliation procedure as per the Arbitration and Conciliation Act 1996. All the expenses of Arbitration and Conciliation shall be borne by You.

(h) Severability

If any provision of these Terms is held to be unenforceable or invalid, such provision will be changed and interpreted to accomplish the objectives of such provision to the greatest extent possible under applicable law and the remaining provisions will continue in full force and effect.

(i) Waiver

Except as provided herein, the failure to exercise a right or to require the performance of an obligation under these Terms and Conditions shall not affect a party's ability to exercise such right or require such performance at any time thereafter nor shall the waiver of a breach constitute a waiver of any subsequent breach.

(j)Amendment

Paydoh reserves at its sole discretion, the right, to modify or replace or amend these Terms and Conditions at any time. If any amendment/modification shall be made to these Terms & Conditions, Paydoh will notify you through its notice and by accepting the notice, and by continuing to access and/or by using our service after those amendment/modifications become effective, you agree to be bound by the amended terms & conditions.