GlobePay Prepaid Card Agreement
Last Update: Feb 20, 2012
Jump to section:
- Obtaining Your Card.
- GlobePay Prepaid Card.
- Using your Prepaid Card.
- GlobePay Prepaid Card Fees.
- GlobePay Preferred Rewards - Cash Back.
- Personal Identification Number (PIN) / Account History.
- Requesting a second Prepaid Card attached to your GlobePay Account.
- Authorized Users.
- Documentation of Transfers.
- Returns and Refunds.
- Card Replacement.
- Our Liability for Failure to Complete Transactions.
- Your Liability for Unauthorized Transfers.
- Other Terms.
- Amendment and Cancellation.
- Information About Your Right to Dispute Errors.
Terms and Conditions/Definitions for the Prepaid Card Agreement
This GlobePay Prepaid Card Agreement ("Agreement") is a contract outlining the terms and conditions between you and The ICICI Bank Limited, a public company incorporated under the company act,1956 and a banking company within the meaning of the Banking Regultion Act, 1949 and having its registered office at Landmark, Race Course Circle, Vadodara 390 007,and its corporate office at ICICI Bank Towers, bandra Kurla Complex, Mumbai 400 051 and applies to your use of The GlobePay Prepaid Visa Card (“Prepaid Card or Card”) issued by The ICICI Bank . This Agreement applies to you in addition to the GlobePay User Agreement and other applicable agreements between you and GlobePay. Please read this Agreement carefully and keep it for future reference.
“Issuer” means The ICICI Bank. “You” and “your” means the person or persons who have received the Card and are authorized to use the Card as provided for in this Agreement. “We,” “us,” and “our” mean the Issuer, our successors, affiliates, assignees and our third party service providers. “Card Account” means the records we maintain to account for the value of claims associated with the Card. All capitalized terms shall have the definitions provided in this Agreement, or if a definition is not provided in this Agreement, the definition in the GlobePay User Agreement shall apply. By accepting and using the Prepaid Card, you agree to be bound by the terms and conditions in this Agreement. The expiration date of the Card is identified on the front of your Card. You agree to sign the back of the Card immediately upon receipt. The Card will remain the property of the Issuer and must be surrendered upon demand. The Card is non-transferable and it may be cancelled, repossessed, or revoked at any time without prior notice subject to applicable law. We may refuse to process any transaction that we believe may violate the terms of this Agreement. Write down your Card number and the customer service phone number provided in this Agreement on a separate piece of paper in case your Card is lost, stolen, or destroyed.
- Obtaining Your Card. The Reserve of India (RBI) requires all financial institutions to obtain, verify, and record information that identifies each person who opens a Card Account. What this means for you: When you open a Card Account, we will ask for your name, address, date of birth, and other information that will allow us to reasonably identify you. We may also ask to see your driver’s license or other identifying documents at any time.
- GlobePay Prepaid Card. The GlobePay Prepaid Visa Card allows you to access the funds which GlobePay has placed with us in accordance with Section 5 of the GlobePay User Agreement.
- Activation. You must activate your Prepaid Card before it can be used. You may activate the Prepaid Card by calling ICICI Bank Customer Care +91-9910603232. For your security, you will need to provide personal information in order to verify your identity and complete the activation process.
Using your Prepaid Card.
- Purchases and ATM Withdrawals. You may use your Prepaid Card at any Visa ATM for a modest fee as outlined below. If given the option, select "Checking Account" when using an ATM. You may use your Prepaid Card to purchase goods and services from merchants that accept Visa Card, in an amount up to your available GlobePay Account Balance, or the amounts available through your backup funding source subject to the Spending Limits outlined below. Each time you use your Prepaid Card, you authorize us to reduce the value available in your GlobePay Account by the amount of the transaction and any applicable fees.
- Split Tender Transactions. Some merchants do not allow cardholders to conduct split transactions where you would use the Prepaid Card as partial payment for goods and services and pay the remainder of the balance with another form of legal tender. If you wish to conduct a split transaction and it is permitted by the merchant, you must tell the merchant to charge only the exact amount of funds available in the GlobePay balance. You must then arrange to pay the difference using another payment method. Some merchants may require payment for the remaining balance in cash. If you fail to inform the merchant that you would like to complete a split transaction prior to swiping your Prepaid Card, your Prepaid Card is likely to be declined.
- Authorization Holds. When you use your Prepaid Card to purchase goods or services or to obtain cash from a merchant, the merchant may attempt to obtain preauthorization from us for the transaction. If the merchant makes such a request, we place a hold on your Account for up to four (4) days for the amount of the preauthorization request (which may vary in some cases from the amount of the actual purchase, depending on the merchant). This hold may affect the availability of funds in your Account. We will not be responsible if any transactions are not completed because of the hold. If the preauthorization request varies from the amount of the actual transaction, we will Prepaid the actual transaction amount from your GlobePay Balance, even if this results in your GlobePay Balance becoming negative because no Backup Funding Source was available. You remain responsible for any negative balances in your Account.
- Card not Present Transactions. If you use your Prepaid Card number without presenting your Prepaid Card in person (such as for a mail order, telephone, or internet purchase), the legal effect will be the same as if you used the Card itself. For security reasons, we may limit the amount or number of transactions you can make on your Prepaid Card in these scenarios. You may not use your Prepaid Card for online gambling or any other illegal transaction.
- Foreign Transactions. If you obtain your funds or make a purchase in a currency other than the currency in which your Card was issued, the amount deducted from your funds will be converted by Visa Card International Incorporated into an amount in the currency of your Card. The exchange rate between the transaction currency and the billing currency used for processing international transactions is a rate selected by Visa Card International Incorporated from the range of rates available in wholesale currency markets for the applicable central processing date, which may vary from the rate Visa Card International Incorporated itself receives, or the government-mandated rate in effect for the applicable central processing date. If you obtain your funds or make a purchase in a currency other than Indian currency (INR), The ICICI Bank may assess a foreign currency conversion fee of 2.5% (as outlined in Section 3 below) of the transaction amount and will retain this amount as compensation for its services.
- ATM withdrawal and spending limits. GlobePay Prepaid Card transactions are subject to a daily limit of `10,000.00 for ATM withdrawals and cash-like withdrawals (e.g. cash advances and money transfers), a `15,000.00 daily limit for purchases. GlobePay retains sole discretion to apply and change these limits.
GlobePay Prepaid Card Fees.
Prepaid Card Joining fee `250 + Service Tax ( One Time) Annual Fee `150 + Service Tax ( Every year) Replacement Fee `100 + Service Tax ATM Transaction at Non ICICI Bank ATM `20 + Service Tax Balance Enquiry at Non ICICI Bank ATM `8 + Service Tax Upload Fee 1% (Upload fee charged by GlobePay.) Exchange Rate & Fee The currency exchange rate is determined by The ICICI Bank based on the current market price and includes a 2.5% Fee. This Fee is variable and only applies when The ICICI Bank performs the currency conversion.
GlobePay Preferred Rewards - Cash Back.
- Cash Back. The GlobePay Preferred Rewards program is offered by GlobePay and provides 1% cash back on the net amount of your eligible monthly purchases. Net amount means all eligible purchases minus reversals for any reason including returns and refunds. It may take up to 48 hours after enrollment for you to begin accruing cash back.
Eligibility. To be eligible for GlobePay Preferred Rewards – Cash Back:
- You must have a GlobePay Business Account.
- Your Prepaid Card purchase must be an online or signature-based purchase that does not require a PIN (personal identification number). Some merchant locations offer you the option of choosing "Credit" or "ATM/Prepaid" when making a payment. To qualify for cash back, you must choose the "Credit" option.
- Your GlobePay Prepaid Card must be in good standing at the time you make an eligible purchase and when GlobePay makes the cash back payment.
- If you sell on websites, you must enroll in the GlobePay Preferred Program and turn on the "Tell Buyers that I prefer GlobePay payments" preference. GlobePay Preferred Rewards program is not available for Prepaid cards obtained through your Personal Account.
- Payout. The cash back will be calculated at the end of each calendar month and added to your GlobePay Account Balance.
- The GlobePay Preferred Rewards program is not available for Prepaid cards obtained through your Personal Account.
- Personal Identification Number (PIN) / Account History. Your PIN is a security code, which has been designed to protect your transaction account against unauthorized use. The PIN provides enhanced security for your Account and must be used when making transactions to your Account. It is your electronic signature. Since the PIN is for security purposes, you should memorize it and it should not be disclosed to anyone. You should not write or keep your PIN with your Prepaid Card. When entering your PIN, be sure it cannot be observed by others and do not enter your PIN into any terminal that appears to be modified or suspicious. You can change your PIN at any time, and a temporary hold can be placed on your Account if the PIN has been compromised or if your Prepaid Card is lost or stolen. Maintaining the security of your PIN and Prepaid Card is your responsibility. If you believe that anyone has gained unauthorized access to your PIN, you should advise us immediately.
- Requesting a second Prepaid Card attached to your GlobePay Account. Current Prepaid Card holders who continue to meet the original Prepaid Card eligibility requirements may request a second Prepaid Card. The primary cardholder warrants and agrees that he or she will be liable for all charges incurred by the secondary cardholder to the same extent and as if they were charges made by the primary cardholder.
- Authorized Users. You are responsible for all authorized transactions initiated and fees incurred by use of your Prepaid Card. If you permit another person to have access to your Prepaid Card or Prepaid Card number, we will treat this as if you have authorized such use and you will be liable for all transactions and fees incurred by those persons.
Documentation of Transfers.
- You can get a receipt at the time you make any transfer to or from your account using your Prepaid Card at a VISA ATM or at a point of sale.
- You may access your transaction history and Balance by logging into your GlobePay Account and clicking on the "History" tab. You should do this regularly to verify the activity on your account.
- Returns and Refunds. If you are entitled to a refund for any reason for goods or services obtained with your Prepaid Card, you agree to accept credits to your Prepaid Card for refunds and agree to the refund policy of the merchant. If you have a problem with a purchase that you made with your Prepaid Card, or if you have a dispute with the merchant, you must handle it directly with the merchant.
- Card Replacement. If you need to replace your Prepaid Card for any reason, please contact GlobePay Customer Care +91-9910603232 to request a replacement Prepaid Card. You will be required to provide personal information which may include your Prepaid Card number, full name, transaction history. There is a fee for replacing your Prepaid Card.
- Where it is necessary for completing transactions;
- In order to verify the existence and condition of your Prepaid Card for a third party, such as a merchant;
- In order to comply with government agency, court order, or other legal, regulatory or administrative requirements;
- If you give us your written permission; or
- To our employees, auditors, affiliates, service providers, or attorneys as needed.
Our Liability for Failure to Complete Transactions
If we do not properly complete a transaction from your Card on time or in the correct amount according to our Agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:
- If through no fault of ours, you do not have enough funds available on your Card to complete the transaction;
- If a merchant refuses to accept your Card;
- If an ATM where you are making a cash withdrawal does not have enough cash;
- If an electronic terminal where you are making a transaction does not operate properly, and you knew about the problem when you initiated the transaction;
- If access to your Card has been blocked after you reported your Card lost or stolen;
- If there is a hold or your funds are subject to legal process or other encumbrance restricting their use;
- If we have reason to believe the requested transaction is unauthorized;
- If circumstances beyond our control (such as fire, flood, or computer or communication failure) prevent the completion of the transaction, despite reasonable precautions that we have taken; or
- Any other exception stated in our Agreement with you.
Your Liability for Unauthorized Transfers
- Contact us at once if you believe your Card has been lost or stolen. Telephoning is the best way to minimize your possible losses. If you believe your Card has been lost or stolen, or that someone has transferred or may transfer money from your Card Account without your permission, call us at +91-9910603232. Under Visa Card Rules, your liability for unauthorized Visa Card transactions on your Card Account is `0.00 if you notify us within two (2) business days and you exercise reasonable care in safeguarding your Card from loss, theft, or unauthorized use. This reduced liability does not apply if a PIN is used as the method of verification for a disputed transaction or you have reported two (2) or more incidents of unauthorized use in the immediately preceding twelve (12) month period. Even if Visa Card zero liability does not apply, if you notify us within two (2) business days of learning of the loss or theft of your Card, you can lose no more than `5,000.00 if someone used your Card without your permission. If you do not notify us within two (2) business days after you learn of the loss or theft of your Card and we can prove that we could have stopped someone from using your Card without your permission if you had promptly notified us, you could lose as much as `50,000.00.
- Also, if you become aware of and/or your statement shows transactions that you did not make, notify us at once following the procedures stated in the paragraph labeled “Information About Your Right to Dispute Errors”. If you do not notify us in writing within sixty (60) days after you become aware of the transaction and/or after the statement was made available to you, you may not get back any value you lost after the sixty (60) days if we can prove that we could have stopped someone from taking the value if you had notified us in time and you are grossly negligent or fraudulent in the handling of your Card. If your Card has been lost or stolen, we will close your Card Account to keep losses down.
Your Card and your obligations under this Agreement may not be assigned. We may transfer our rights under this Agreement. Use of your Card is subject to all applicable rules and customs of any clearinghouse or other association involved in transactions. We do not waive our rights by delaying or failing to exercise them at any time. If any provision of this Agreement shall be determined to be invalid or unenforceable under any rule, law, or regulation of any governmental agency, local, state, or federal, the validity or enforceability of any other provision of this Agreement shall not be affected.
Amendment and Cancellation.
From time to time, we may amend this Agreement by posting a revised version on the GlobePay website. The revised version will be effective at the time we post it. In addition, if the revised version includes a Substantial Change, we will provide you with 30 Days' prior notice of Substantial Change by posting notice on the "Policy Updates" page of the GlobePay website. However, if the change is made for security purposes, we can implement such change without prior notice. We may cancel or suspend your Card or this Agreement at any time. You may cancel this Agreement by returning the Card to us. Your termination of this Agreement will not affect any of our rights or your obligations arising under this Agreement prior to termination.
Information About Your Right to Dispute Errors
18.1 Protection for Unauthorized Transactions and Other Errors. When an Unauthorized Transaction or Other Error occurs in your Card Account, including Unauthorized Transactions that occur because your GlobePay Prepaid Card has been lost or stolen, we will cover you for the full amount of every eligible Unauthorized Transaction or Other Error as long as you follow the procedures discussed below in this section.
You may request documentation or information regarding your Account or transaction to determine whether an Unauthorized Transaction or Other Error exists by contacting us through the Contact Us link at the bottom of each page of the GlobePay website.
18.2 Notification Requirements.
You should immediately notify us if you believe:
- there has been an Unauthorized Transaction or unauthorized access to your Card Account;
- there is an error in your Card Account statement (you can access your Account statement by logging into your Account and clicking on the “Statements” tab ) or your transaction confirmation sent to you by email;
- your password has been compromised;
- your Prepaid Card has been lost, stolen or deactivated; or
- you need more information about a transaction listed on the statement or transaction confirmation.
For Unauthorized Transactions or Other Errors involving your Prepaid Card, notify us as follows: (1) Log into your Account, go to the "Account Overview" page, select the transaction details for the transaction you wish to dispute and then follow the directions. Please print and sign the completed form, then mail it to us (GlobePay, Attn: GlobePay Prepaid Card Department, 2334/3, Rajiv Nagar, Gurgaon, INDIA, 122 001 or Telephone GlobePay Customer Service at +91-9910603232.
When you notify us, provide us with all of the following information: (1) Your name and email address registered to your Account;(2) A description of any suspected Unauthorized Transaction or Other Error and an explanation as to why you believe it is incorrect or why you need more information to identify the transaction; and (3) The amount of any suspected Unauthorized Transaction or Other Error.
If you notify us orally, we may require that you send us your complaint or question in writing within 10 Business Days. During the course of our investigation, we may request additional information from you.
18.3 Our Actions after Receipt of Your Notification. Once you notify us of any suspected Unauthorized Transaction or Other Error, or we otherwise learn of one, we will do the following:
We will conduct an investigation to determine whether there has been an Unauthorized Transaction or Other Error that is eligible for protection. We will complete our investigation within 10 Business Days of the date we received your notification of the suspected Unauthorized Transaction or Other Error. If your Card Account is new (the first transaction from your Card Account was less than 30 Business Days from the date you notify us), we may take up to 20 Business Days to complete this investigation. If we need more time, we may take up to 45 Days to complete our investigation (or up to 90 Days for new Card Accounts, or if your transaction was at a point of sale where you were physically present, or a foreign initiated transaction).
If we decide that we need more time to complete our investigation, we will provisionally credit your Card Account for the amount of the suspected error. You will receive the provisional credit within 10 Business Days of the date we received your notice (or 20 Business Days for new Card Accounts). This will allow you to have use of the money until we complete the investigation. We will notify you of the provisional credit within 2 Business Days of the crediting. If we ask you to put your complaint or question in writing and we do not receive it within 10 Business Days (or 20 Business Days for new Card Accounts), we will not provisionally credit your Card Account. We will inform you of our decision within 3 Business Days after completing our investigation.
If we determine that there was an error, we will promptly credit the full amount of the error into your Account within 1 Business Day of our determination. Or, if you have already received a provisional credit, you will be allowed to retain those amounts.
If we decide that there was not an error, we will include an explanation of our decision in our email to you. If you received a provisional credit, we will remove it from your Account and notify you of the date and amount of the Prepaid. You may request copies of the documents that we used in our investigation.
18.4 Processing Errors. We will rectify any processing error that we discover. If the error results in your receipt of less than the correct amount to which you are entitled, we will credit your Account for the difference. If the error results in your receipt of more than the correct amount to which you are entitled, we will Prepaid the extra funds from your Account. If the error resulted in our not completing a transaction on time or in the correct amount, we will be liable for your losses or damages directly caused by this failure, unless: (a) through no fault of ours, you did not have enough available funds to complete the transaction, (b) our system was not working properly and you knew about the breakdown when you started the transaction, or (c) circumstances beyond our control (such as fire, flood or loss of Internet connection) prevented the transaction, despite our reasonable precautions.
0) English Language Controls. Any translation of this Agreement is provided for your convenience. The meanings of terms, conditions and representations herein are subject to definitions and interpretations in the English language. Any translation provided may not accurately represent the information in the original English.
1) Customer Service
For customer service or additional information regarding your Card, please contact us at:
Global Payment Services Pvt. Limited
2334/3, Rajiv Nagar
Opp- Air Force School
This Cardholder Agreement is effective (02/2012)