Businesses of all shapes and sizes use our platform trusting us with their information. It's a big responsibility for us, thus we protect your information at every level. All of our products and solutions are thoroughly reviewed by our privacy team prior to launch, and we care about the privacy and security of your personal data.
Terms of Use
These terms and conditions (“Terms of Use” or “Terms of Service” or “Terms”) are a computer-generated electronic record published under Rule 3 of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 (as amended from time to time) read with Information Technology Act, 2000 (as amended from time to time) and does not require any physical or digital signatures.
These Terms are legally binding and govern your use of “BankU Seva Kendra Platform” created, owned and operated by Intsalite Finserv Limited, a Limited company incorporated under the laws of India, having registered office at 102 BHOOTHNATH ROAD NEAR SBI BANK , PATNA, Bihar, India - 800026. (“ BankU Seva Kendra” or “ Company ”). Please read these Terms carefully before using the Platform and/or availing any of the Services (defined below) provided by BankU Seva Kendra through its Platform.
By accessing or using the Platform or Services, you agree to be bound by these Terms and BankU Seva Kendra’s Policy. If you do not agree to be bound by these Terms and the Privacy Policy, you shall not use the Platform and Services in any manner whatsoever.
These Terms are in addition to and not in derogation of any other terms stipulated by BankU Seva Kendra from time to time. In case of any conflict between these Terms and such other terms, these Terms shall prevail. Throughout these Terms, “ we ” and “ our ” shall refer to BankU Seva Kendra and “ you ” and “ your ” shall refer to you, i.e., the User (defined below) of the Platform. Both BankU Seva Kendra and the User are collectively referred to as “ Parties ” and individually referred to as “ Party ” hereof.
Notwithstanding anything contained elsewhere, BankU India Seva Kendra reserves the right to modify, alter, amend, revise these Terms, update the Platform and Services at any time, without prior notice, to improve your experience on the Platform and on account of changes in Applicable Law. It is strongly recommended that you visit the Platform periodically to review the latest and updated version of the Terms. If you do not agree with any changes made by us, you may stop using the Platform and Services. Your continued access or use of the Platform or Services after such modifications/updation shall constitute your acceptance of the modifications/updation.
ACCEPTANCE
These Terms were last updated on 15 April 2025. By accessing, signing-up and/or accepting or using the Platform or the Services in any manner whatsoever, you acknowledge that you have read these Terms and agree to be bound by them. You also acknowledge that you have read our Privacy Policy and agree to be bound by it. By accessing or using the Platform or Services, you represent that you have provided us with valid credentials which may be used to verify your identity. We reserve the right to restrict, suspend, or terminate your access to the Platform or Services, at any time without prior notice, if we believe that you are in breach of these Terms. For the security of your account and to enhance your overall experience on the Platform, we may use certain technologies to monitor your activities on the Platform. BankU Seva Kendra reserves the right to make your details available to its affiliates and partner institutions and you may be contacted by them for information and sales enquiries through e-mail, telephone and/or SMS. You agree to receive promotional materials and/or special offers from BankU Seva Kendra its affiliates and partner institutions. These promotional materials and/or special offers will be consent based and you will have the option to unsubscribe.
ELIGIBILITY
You shall register or become a User of the Platform or Services only if you are 18 years or above, and can enter into legally binding contracts as per Applicable Law. To access/use the Platform or Services, you need a valid e-mail address and Indian mobile phone number. Users who have been previously suspended or removed from availing any of the Services shall not be eligible to access/use the Platform or Services at any time. Users shall not impersonate any person or entity, or falsely state or otherwise misrepresent identity, age or affiliation with any person or entity and you may not have more than one active Account (defined below).
DEFINITIONS
For the purpose of these Terms including General Terms and Conditions, Terms and Conditionsthe following words and phrases shall have the meaning assigned to them hereinbelow.
“Account” shall have the same meaning as ascribed to it under Clause 1.2 of these Terms; “Applicable Law” shall mean and include (i) any law, statute, rule, regulation, order, circular, decree, directive,
judgment, decision or other similar mandate of any applicable central, national, state or local governmental/regulatory authority
having competent jurisdiction and force of law over, or applicable to you, BankU Seva Kendra or the subject matter in question, as may
be amended from time to time, and (ii) any notification, circular, directive or other similar instructions issued by a financial
sector regulator including but not limited to the Reserve Bank of India (“ RBI ”) and/or rules, regulations, roles,
responsibilities and processes laid down by National Payments Corporation of India (“ NPCI ”) and other law enforcement
agencies or regulatory authorities from time to time;
“Chargeback” shall mean and include reversal of any transaction made by Service Provider’s User on account of, including but not limited to:
i. any alleged forgery of the User’s account, card or other details pertaining to the transaction; ii. any charge/debit made on Account or card that has been listed as a hot listed card or otherwise listed on the card association warning bulletins;
iii. duplicate processing of the transaction; iv. any amount required to be refunded due to denial of a transaction by the User/valid card holder as wrongly charged payment/extra payment and/or due to fraudulent use/misuse of personal and financial information of the Service Provider’s User by any unauthorized person(s) and/or;
v. any other reason as required/approved by the concerned banks, as the case may be;
“Confidential Information” shall mean and include any and all business, technical and financial information of BankU Seva Kendra or of any of its Affiliates that is related to any of the arrangements contemplated in these Terms or any other document in which these Terms are incorporated by reference or otherwise disclosed by BankU Seva Kendra to the User; any information which relates to its financial and/or business operations, including but not limited to, specifications, models, merchant lists/information samples, reports, forecasts, current or historical data, computer programs or documentation and all other technical, financial or business data, information related to its internal management, customers, products, services, anticipated products/services, processes, financial condition, employees, merchants, Intellectual Property (defined below), marketing strategies, experimental work, trade secrets, business plans, business proposals, customer contract terms and conditions, compensation/commission/service charges payable to the User, and other valuable confidential information and materials that are customarily treated as confidential or proprietary, whether or not specifically identified as confidential or proprietary;
“Effective Date” or “Registration Date” shall mean the date of registration of Account of the User on BankU Seva Kendra’s platform.
“BankU Seva Kendra Platform or Platform” shall mean and include without limitation, BankU Seva Kendra’s websites or web applications including BankU Seva Kendra.in, banku.co.in with all its sub-domains and any other linked web pages, mobile applications (Android and iOS), mobile site services, API keys, features or content and other digital assets or properties developed, owned and operated by the Company, as the case may be, to facilitate the User to access and/or use the Services;
“BankU Seva Kendra Policies” “BankU Seva Kendra Policies” shall mean and include these Terms, Privacy P
olicy, Grievance Policy and any other terms and conditions/policies available and updated from time to time on the Platform;
“Intellectual Property” shall mean all intellectual property used for the purpose of or in association with or in relation to the performance of these Terms and applicable agreement, and includes without limitation, (a) software, operating manuals, software code, program, instructions, specifications, processes, input methods, data or information used in relation to, or in association with, or for the operation of the software installed by BankU Seva Kendra, (b) patents, copyrights, designs, trademarks, service marks, trade names, business names, logos, symbols, styles, colour combinations used by BankU Seva Kendra during the course of its business and all depictions, derivations and representations, graphics, images, content, and the
“look and feel” of all of the above (whether registered or not), (d) all information, data or material in whatever form, whether tangible or not, provided by BankU Seva Kendra to the User on the Platform; and (e) all techniques, formulae, patterns, compilations, processes, inventions, practices, methodology, techniques, improvement, utility model, procedures, designs, skills, technical information, notes, experimental results, service techniques, samples, specifications of the products or Services, labelling specifications, rights on software, and any other knowledge or know-how of any nature whatsoever.
“KYC” or “Know Your Customer” shall mean the process prescribed under the Applicable Law to collect and authenticate a User’s personal or business identification details before offering Services to the User;
“Services” shall mean the services provided, either directly or indirectly, by BankU Seva Kendra and/or any Service Provider to the User including, but not limited to, access and use of the Platform, banking services, non-banking services and other such services;
“Service Provider” shall mean any banking and/or non-banking entity with which BankU Seva Kendra has, directly or indirectly, executed an agreement for facilitating transactions between such entity and its customers;
“Users” shall mean and include individuals, body corporate, partnership, limited liability partnership, BankU Seva kendra, merchants, etc., who accessing the Platform and/or using the Services.
Terms & Conditions
Intsalite Finserv Limited (“BankU Seva Kendra”) is a neo-banking platform delivering full-stack banking services to
individuals and businesses. BankU is authorised by multiple banks to act as a Corporate Business Correspondent (“CBC”)
and appoint Agent Business Correspondents (“ABC”) to deliver mainstream financial and citizen services to Customers
under the guidelines issued by RBI vide RBI/2010-11/217 DBOD. No. BL.BC.43/22.01.009/2010-11 dated September
28, 2010, and the related constraints therein, with such further changes as may be initiated by the RBI
respectively from time to time.“BankU Seva Kendra(s)” shall mean and include the Users registered on the BankU Seva Kendra
Platform who are authorised by Intsalite Finserv Limited and the Bank to operate as ABC(s) under the above-mentioned
guidelines for providing banking and citizen services envisaged in these BankU Seva Kendra
Terms and Conditions. BankU Seva Kendras shall also be known as RSP’s (Retail Service Providers)
if appointed by Intsalite Finserv Limited for booking eTickets through IRCTC website or through their
own web services portal. These BankU Seva Kendra Terms and Conditions (“BankU Seva Kendra Terms and Conditions”)
as set out below are in addition to the Terms and Conditions as set out above and are applicable to all the BankU
Seva Kendras registered on the Intsalite Finserv Limited Platform.
1. BANKU SEVA KENDRA OBLIGATIONS AND DUTIES
1.1 The BankU Seva Kendra shall only undertake the activities in accordance with all the applicable Terms, relevant regulations and standard operating procedures issued by the Bank or the Regulators from time to time.
1.2 The BankU Seva Kendra shall take an appropriate insurance policy in order to protect itself from any business impediments, financial and non-financial risks.
1.3 The BankU Seva Kendra shall operate at its own cost as may be required by the Company or the Bank to effectively deliver the services to the Customers.
1.4 The BankU Serva Kendra shall ensure that any additional resource(s) engaged by the BankU Serva Kendra, subject to prior written approval from the Company, are selected through a process found suitable by the Company for providing the services in a timely and efficient manner.
1.5 The BankU Serva Kendra shall be solely responsible for compliance with all applicable labour laws in relation to the personnel it employs along with the associated costs. BankU will not have any right, obligation or responsibility whatsoever to control, supervise or manage the BankU Serva Kendra’s employees, agents or independent contractors.
1.6 The BankU Serva Kendra may utilize any third-party software other than the Software for providing the Services only after prior written permission of the Company. The BankU Serva Kendra shall ensure that such third-party Software is validly licensed, procured and installed. It shall ensure that the use of third-party Software shall not affect or damage BankU's Software.
1.7 The BankU Serva Kendra shall act prudently in accordance with these Terms and Conditions and shall exercise all due diligence in carrying out its duties and obligations under these Terms and Conditions. The BankU Serva Kendra agrees that they will preserve the data in accordance with the legal/regulatory obligations of the Company and as required under various circulars, guidelines, notifications etc. issued by the Bank or other regulatory authorities.
1.8 The BankU Serva Kendra shall not exercise any lien or right to set-off or appropriation on any of the assets, properties, documents, instruments or material belonging to the Company and/or the Customers and/or non-Customers in the custody of the BankU Serva Kendra for any amount due or claimed to be due by the BankU Serva Kendra from the Bank.
1.9 The BankU Serva Kendra shall promptly provide the details provided by the Company indicating the charges (if any) for the Services rendered to each and every Customer. The BankU Serva Kendra shall ensure that the charges for offering Services are clearly communicated to the Customer prior to rendering the services.
1.10 The BankU Serva Kendra shall not charge any fee from the Customer either directly or indirectly or on behalf of the Company over and above the fee specified by the Company from time to time.
1.11 The BankU Serva Kendra undertakes to perform the Services in accordance with the instructions provided by the Company from time to time.
1.12 The BankU Serva Kendra undertakes that any software or hardware used by the BankU Serva Kendra shall comply with the industry standards and will be updated regularly.
1.13 The BankU Serva Kendra shall immediately notify the Company of any breach of security and leakage of confidential information. In such eventualities, the BankU Serva Kendra shall be liable for all the damages and repercussions.
1.14 The BankU Serva Kendra shall familiarize itself with the Grievance Policy of the Company; the BankU Serva Kendra shall communicate this policy to each and every Customer and shall notify the Company within the specified time period of any claims/complaints/grievances made by the Customers.
1.15The BankU Serva Kendra undertakes that any Customer information taken shall be strictly protected as per the Terms and Conditions and the BankU Serva Kendra would not source any other personal sensitive information from the Customers.
1.16 In no event shall the BankU Serva Kendra indulge or enter into any financial transaction with any of the BankU employees, associates, agents and/or personnel. BankU shall not be liable for any damages, losses (direct or indirect) whatsoever caused to the BankU Serva Kendra arising out of such transactions.
1.17 The BankU Serva Kendra shall treat all the Customers with dignity and respect and shall not resort to any kind of intimidation or harassment, either verbal or physical against any person.
1.18 If any legal proceeding is instituted by any Customer, the BankU Serva Kendra shall immediately intimate the same to the Company and provide all documents and information to enable the Company to take appropriate action. The Company shall not be liable for any dispute arising between the BankU Serva Kendra and any other entity / third party. The BankU Serva Kendra shall not make any representation to the Customers or otherwise give any warranties other than those contained in the standard terms and conditions laid down by the Company.
2. CASH MANAGEMENT
BankU shall from time to time authorise certain BankU Seva Kendras for cash management activities and to further extend the reach of banking services to the Customers for greater financial inclusion. Such BankU Seva Kendras shall:
2.1 Collect and/or dispense cash at other BankU Seva Kendra outlets in the assigned territory to ensure uninterrupted delivery of banking and citizen services to the Customers as per the mutually agreed terms.
2.2 Confirms that it assumes all the risks associated with cash logistics and shall take an appropriate insurance policy in order to protect itself from any business impediments, financial and non-financial risks.
2.3 Be solely responsible for providing genuine currency to all the BankU Seva Kendras and hence to the Customers towards the Transactions performed and the Company shall not assume any responsibility in this regard.
2.4 Ensure that the credit or debit against the cash collected or dispensed to the other BankU Seva Kendra(s) happens on an immediate basis at the time of handing over the cash.
3. SETTLEMENT
The payment mechanism for settlement of the fee payable by the BankU Seva Kendra or the Company as applicable shall be as follows:
3.1 The Company shall make available to the BankU Seva Kendra a report in electronic form setting forth the following information relating to each Transaction: The Transaction amount, date and time of the Transaction, Transaction serial number, Service Provider identification and response code ("MIS"). The MIS shall be made available to the BankU Seva Kendra via an online portal. The format and controls on the portal and process will be as provided by the Company and as updated from time to time.
3.2 The BankU Seva Kendra shall maintain sufficient credit/balance with the Company so as to enable each Transaction to be carried out smoothly. The Company reserves the right to decline any Transactions done over and above the balance of BankU Seva Kendra available with the Company.
3.3 The BankU Seva Kendra hereto agrees that any payment instructions for Transactions accepted by the BankU Seva Kendra as per the terms hereof which are subsequently disputed due to (a) the authorization by the BankU Seva Kendra of any Transaction with an amount exceeding the BankU Seva Kendra’s account balance or credit limit, or (b) the authorization by the BankU Seva Kendra of a fraudulent Transaction, shall always be the liability and responsibility of BankU Seva Kendra.
3.4 The BankU Seva Kendra hereby acknowledges and agrees that BankU is a facilitator for payment processing services which are requested and authorized by BankU Seva Kendra and BankU shall not be responsible for any unauthorized transaction done by any person including third party and amounting to infringement of another’s rights or any chargebacks claimed by the Customers. It will be the responsibility of BankU Seva Kendra to ensure due protection while transacting online or otherwise. BankU will assist the BankU Seva Kendra in settling any queries related to the Services that arise between the BankU Seva Kendra and its Customers and any other BankU Seva Kendra. However, BankU shall bear no responsibility with respect to the dispute or query related to the payment made by the Customers to the BankU Seva Kendra.
3.5 On the receipt of the Chargeback from the customer, BankU Seva Kendra shall be notified by the Company. The BankU Seva Kendra shall be entitled to furnish documents and information pertaining to the Transaction associated with the Chargeback within one (1) working day or such other period as specified by the bank whichever is higher. The BankU Seva Kendra agrees and acknowledges that (i) if the BankU Seva Kendra is unable to furnish Chargeback Documents (ii) the bank is not satisfied with the Chargeback documents furnished by the BankU Seva Kendra, then the bank shall be entitled to order the BankU to affect a reversal of the debit of the Chargeback Amount associated with the Chargeback such that the said chargeback amount is credited to the Customer’s Payment Instrument.
4. CLUSTER OF BANKU SEVA KENDRAS AND RETAIL CHANNEL PARTNER
The BankU Seva Kendras and Retail Channel Partner hereby agree and undertake that each of them shall unconditionally and irrevocably guarantee the repayment of the outstanding amount in case of any fraudulent transaction being reported by a customer irrespective of the fact that the fraudulent transaction is performed by a cluster member jointly or singly. It is clarified that every BankU Seva Kendra and Retail Channel Partner is a Guarantor in respect of any act or violation of the other Cluster Members under any law or statutes while acting as a BankU Seva Kendra for BankU. Therefore, BankU Seva Kendras understand and accept that the Company can take any action including but not limited to holding, freezing,lien on their BankU balance in case of any fraud, misrepresentation being conducted by the BankU Seva Kendra, RCP and/or other BankU Seva Kendras in their BankU Cluster. Cluster here refers to the group of BankU Seva Kendras and the respective Retail Channel partner assigned to them.
5. DATA SECURITY AND STORAGE
5.1 The BankU Seva Kendra shall comply with the provisions contained in the Information Technology Act, 2000 and the statutory rules framed thereunder, from time to time, in so far as the same has applied to its operations in accordance with all these Terms and Conditions, and also with all other Laws, rules and regulations, whether already in force or which may be enacted from time to time, pertaining to data security and management, data storage, sharing and data protection, and various rules, regulation and provisions as may be applicable, as and when the same is enacted into law and comes into force, and shall ensure the same level of compliance by all its employees.
5.2 The BankU Seva Kendra confirms and certifies that it will never engage in any acts that violate any laws and regulations. It shall also ensure that the financial data or any other information of the Customers received by the BankU Seva Kendra are stored in a system only in India. This data shall include a full end to end transaction details/information collected/carried/processed as part of the message/payment instructions.
6. TERMINATION
The BankU Seva Kendra agrees that BankU, in its sole discretion, for any or no reason, and without penalty, may suspend or terminate the account (or any part thereof) or the use of the BankU Platform. BankU may also in its sole discretion and at any time discontinue providing access to the BankU Services, or any part thereof, with or without notice. BankU Seva Kendra agrees that any termination of the access to the BankU platform may be affected without prior notice, and BankU Seva Kendra agrees that BankU shall not be liable to the BankU Seva Kendra or any third party for any such termination or interruption. Any suspected fraudulent, abusive or illegal activity may be referred to appropriate law enforcement authorities. These remedies are in addition to any other remedies BankU may have at law or in equity. Upon termination for any reason, BankU Seva Kendra agrees to immediately stop using the BankU Services and Platform.
Privacy Policy
Intsalite Finserv Limited (“BankU”, “we”, “us”, “our” ), respects every individual’s right to privacy and it is our endeavour to protect their personal and Sensitive personal data or information (defined below).
This Privacy Policy ( “Policy”) applies to all visitors (i.e. those who do not have an Account with BankU) and users
(i.e. those who have an Account with BankU) (collectively referred to as “User”) who share their personal and Sensitive
personal data with us, while visiting, accessing, browsing and using our website and mobile application (collectively referred to
as “Website” ). The purpose of this Policy is to inform Users regarding collection, use, storage, transfer and disclosure of their
data. Before submitting any information to us, please carefully read this Policy to understand how we shall treat your information.
The User acknowledges that this Policy is a part of BankU's Terms & Conditions and all the terms defined there have the same meaning here in this Policy. Access, browsing and continuous use of the Website constitutes the User’s unconditional consent to this Policy read together with the Terms of Use. If the User does not agree with the terms of this Policy, please do not visit and use our Website. This Policy can be easily accessed at various places on our Website, including but not limited to when Users create an account with us on our Website.
BankU reserves its right to modify, alter, and update this Policy at any time, with or without prior notice. Although, Users shall be notified of material changes through their registered email address or any other mode of communication available with us, it is advised that they consult this Policy regularly to be updated about the changes. If a User continues to use or avail the services of the Website after any modification, amendment, alteration or change of this Policy, irrespective of whether notice was sent to the User or published on the Website, such User is hereby deemed to provide consent to this Policy and BankU's other Policies and practices existing at the time of visiting, accessing and/or using the Website.
This Policy is published in compliance of:
i. Section 43A of the Information Technology Act, 2000 (“Act” ) ii. Regulation 4 of the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Information) Rules, 2011 (“SPI Rules” )
DEFINITIONS
1. Personal Information
SPI Rules define “Personal Information” as any information that relates to a natural person, which, either directly or indirectly, in combination with other information available or likely to be available with a body corporate, is capable of identifying such person. Such information includes name, address, mobile number, etc.
i. passwords;
ii. financial information such as bank accounts or credit card or debit card or other payment instrument details;
iii. physical, physiological and mental health condition;
iv. sexual orientation;
v. medical records and history;
vi. biometric information;
vii. any of the information received under above clauses by body corpoli> for processing or storage under lawful contract or otherwise.
Information which is freely available in the public domain or furnished under the Right to Information Act, 2005 or any other law shall not be regarded as sensitive personal data or information.
Location Information :
In order to provide certain Services, we may require access to location information, including precise geolocation information collected from your device. If you do not consent to collection of this information, certain Services will not function properly and you will not be able to use those Services.
We do not share your location data with third parties unless necessary to provide the requested services, comply with the law, or with your consent.
You can control or disable location services at any time through your device settings.
2. Payment Data
“Payment Data” is defined as end-to-end transaction details and information pertaining to payment or settlement transaction that is gathered / transmitted / processed as part of a payment message / instruction. Payment Data includes - Customer data (Name, Mobile Number, email, Aadhaar Number, PAN number, etc. as applicable); Payment sensitive data (customer and beneficiary account details); Payment Credentials (OTP, PIN, Passwords, etc.); and, Transaction data (originating & destination system information, transaction reference, timestamp, amount, etc.).
Consent for collection of Personal Information > Users provide their consent to the use, disclosure, storage, possession, receiving, dealing or handling of their Personal Information by accessing, browsing, or availing services on the Website.
In accordance with Rule 5 of SPI Rules, Users provide their specific consent to the use, disclosure, storage, possession, receiving, dealing or handling of their Sensitive personal data or information for lawful purposes enumerated in this policy through checking the box affirming such consent appearing at the time of creation of their Account on the Website.
BankU presumes adequate and lawful parental consent in case the Personal Information or Sensitive personal data or information is shared by a User under the age of 18 years.
Types of information we collect
The Users who access and use our Website are required to submit certain Personal Information and Sensitive personal data or information for creating an Account, entering into transactions with us and obtaining customer support services. Personal Information and Sensitive personal data or information which may be collected by us includes:
i. full name and age; ii. username and password; iii. PAN; iv. password of User’s account registered with us; v. postal address; vi. E-mail address; vii. mobile number; viii. internet protocol (IP) addresses (through cookies); ix. URL of website accessed prior to and post Users’ accessing our Website; x. credit/debit card number, credit/debit card expiration date and/or other payment instrument details; xi. User’s feedback, queries, e-mails, letters, suggestions provided to us; xii. third party information about concerned User’s activities or postings on the Website; xiii. Information about the mobile/tab device the App is installed on or mobile device identifier. xiv. any other information relevant for accessing and using our Website as maybe required by us.
Purpose of collection
We shall collect your Personal Information or Sensitive personal data or information only for specific, clear and lawful purposes. These include:
i. to give the User a safe, efficient, smooth and personalised experience while using our Website; ii. to improve our services and products; iii. to respond to your queries or complaints generally related to our services, etc; iv. to send promotional emails containing information about our existing and new products/services, newsletters, notify changes in this Policy or other policies etc; v. to analyse the traffic on our Website and conduct market research regarding users’ demographics, interests, and behaviour; vi. to create new products and services; vii. to provide customer support services; viii. to detect, prevent and address error, fraud, criminal activity, abuse of our services and technical issues; ix. to enforce Terms of Conditions; x. to provide co-branded services in affiliation with more than one corporate entity; xi. other such lawful purposes as described at the time of collection of Personal Information or Sensitive personal data or information.
How information is collected
We collect information which the Uservoluntarily provides us at the time of visiting, accessing, browsing and using our Website, our social media profiles, and customer support service. We also collect data automatically by analysing your online behaviour (through cookies).
The User has an option to not provide us with certain information or withdraw consent to provide certain information at any time, in accordance with the terms of this Policy. In case consent is withdrawn, we shall retain your Personal Information or Sensitive personal data or information for a period deemed appropriate by us or as mandated by law. On revoking of your consent, we reserve the right to limit access to the various features and services provided on the Website. Disclosure of information
You expressly consent to and authorize us to share your Personal Information and Sensitive personal data or information with our trusted affiliates and any other third party, to the extent and for the lawful purposes as stated in this Policy. We shall not disclose any Personal Information or Sensitive personal data or information to any government institution or authority, except where such disclosure is (i) obligated by law, (ii) requested by a lawfully authorized government authority, (iii) pursuant to a judicial decree, (iv) for enforcing and protecting the legal rights of BankU or others’, (v) for seeking any relief, (vi) for defending any charge, (vii) for opposing any claim, (viii) for enforcing this Policy or our Terms of Use, (ix) for obtaining any legal advice. We also reserve our right to disclose, share or transfer your Personal Information or Sensitive personal data or information to a third party due to any change in ownership, merger, restructuring or sale of our business assets. Use of cookies and other technologies
To improve the effectiveness and usability of the Website for our Users, we use “cookies”, or similar technology to collect information and assign each visitor a unique random number called as a User Identification (User ID) in order to understand the User's individual interests. Our web servers automatically collect limited information about the User’s computer connection to the Internet, including User’s IP address, when the User visits the Website (User’s IP address is a number that lets computers connected to the internet know where to send data to the User such as the web pages viewed by the User).
Users may encounter “cookies” or other similar devices on certain pages of the Website that are placed by third parties. We do not control the use of cookies by third parties and disclaim any obligation or liability associated thereto. Links to other websites
The Website provides links to other websites which may or may not collect information about the User. The User acknowledges that this Policy does not cover the collection and use of information by such sites and that we shall not be responsible for the privacy policies, practices or content of the linked websites. Correction and updation of information
The User shall promptly notify us in case any Personal Information or Sensitive personal data or information supplied by such User as maintained in our records is inaccurate, misleading or incomplete. Further, the User may also review, update or modify the information by logging into their Account on the Website. We shall not be responsible for the authenticity of Personal Information or Sensitive personal data or information supplied by a User. Retention of information
Your Personal Information and Sensitive personal data or information may be retained and used until: (i) the relevant purposes for the use of your information described in this Policy are no longer applicable; and (ii) we are no longer required by applicable law, regulations, contractual obligations or legitimate business purposes to retain your information; and (iii) the retention of your information is not required for the establishment, exercise or defense of any legal claim. Mailers
BankU may send direct mailers to the User at the email address given by the User. The User has the option to opt-out of this direct mailer by way of links provided at the bottom of each mailer or any other means as BankU deems appropriate. BankU respects every User’s privacy and in the event that User chooses to not receive such mailers, BankU will take all steps to remove the User from the list. If a User wants to remove his/her/it’s contact information from all mailing lists and newsletters, the same can be done through “Profile” page of his/her/it’s account with BankU. Advertising
We use third-party advertising companies to serve ads when you visit our Website. These companies may use your anonymized information (i.e. information which does not include your name, address, email address or mobile number) in order to provide advertisements about goods and services of interest to you. Such anonymized information is usually in the form of aggregated statistics on traffic to various pages within our Website.
Data Localization
In compliance with Reserve Bank of India’s circular RBI/2017-18/153 DPSS.CO.ODNo.2785/06.08.005/2017-2018 dated April 6, 2018, all Users, including system participants, service providers, intermediaries, payment gateways, third party vendors and other entities in the payments ecosystem, who are retained or engaged by BankU for providing payment services shall mandatorily store entire Payment Data in systems located only in India. Notwithstanding the above, for cross border transaction data, consisting of a foreign component and a domestic component, a copy of the domestic component may also be stored abroad, if required.
How we secure the information
The Website has put stringent security measures necessary to prevent misuse, unauthorised access, modification, disclosure or destruction of your Personal Information and Sensitive personal data or information in our control. All information collected by us is stored on servers secured behind a firewall; such servers are password-protected and access is strictly limited based on need-to-know basis.
We may undertake periodic review of our security safeguards and this Policy to incorporate such future changes as may be appropriate to ensure that integrity of your Personal Information and Sensitive personal data or information is intact. In case of any security breach which is likely to cause harm to the User, we shall notify the User of such breach as soon as practicable and take necessary measures to remedy the breach or mitigate any immediate harm.
If you seek any clarifications regarding this Policy or wish to raise any issue or grievance with respect to illegal access, use or disclosure of Personal Information, please e-mail at help@banku.co.in
We shall attempt to resolve any issues within a period of thirty (30) days from the date of receipt of the question, concern, grievance or report.
Grievance Policy
BankU seva kendra believes that excellence in customer service is an important imperative for sustained business growth. As a service organization, customer service and customer satisfaction are our prime focus. Our goal is to ensure that our customers receive exemplary service across all our touch points. This policy encompasses a structured grievance redressal mechanism and a framework for addressing customer grievances/complaints.
BankU Seva Kendra will treat the customers in a transparent and fair manner, and will deal with customer complaints with courtesy and in a timely manner.
REDRESSAL MECHANISM FOR GRIEVANCES:
BankU Seva Kendra believes that excellence in customer service is an important imperative for sustained business growth. As a service organization, customer service and customer satisfaction are our prime focus. Our goal is to ensure that our customers receive exemplary service across all our touch points. This policy encompasses a structured grievance redressal mechanism and a framework for addressing grievances/complaints.
BankU Seva Kendra will treat the customers in a transparent and fair manner, and will deal with customer complaints with courtesy and in a timely manner.
The customer can contact the below mentioned two levels for effective resolution of their complaints:
1. Initial Contact Point:
Customers are encouraged to first contact our customer service team, who are trained to handle a wide range of issues. Our representatives will listen to your concerns, provide assistance, and work towards a resolution.
2. Escalation Level:
If the issue is not resolved to your satisfaction at the initial contact point, you may escalate your complaint to a senior representative. This ensures that more complex grievances receive the attention they deserve.
Your safety and security are our top priorities, and we are here to assist you promptly and effectively. Thank you for helping us maintain a secure environment for all our customers.
Restricted Services
The Users hereby represents and confirms that it is not into the activities mentioned in the restricted services list (as amended from time to time) as set out herein below:
1. MLM & Entities operating as chit funds / nidhi companies (except government or public sector entities);
2. Casino / Nightclub / Betting / Gambling / Gaming Business (gaming companies qualified under “games of skills” are excluded from the list)
3. Weapons which include firearms, ammunition, knives, brass knuckles, gun parts, and other armaments; Antiques/Art Dealers.
4. Hazardous materials which include explosives and related goods; toxic, flammable, and radioactive materials and substances.
5. Dealers in gems and jewellery / precious metals / bullions (including sub dealers).
6. Money Changers / Money Transfer Agents
7. Embassies / Consulates
8. Online Lotteries
9. Telemarketers
10. Offshore Corporation
11. Unregulated and Illegal Currencies