Product Related GTC

Fixed Deposite
Recurring Deposit Terms & Conditions
Call Account (also called Call Deposit Account)
Current Accounts
Touch & Remit (KIOSK Remittance)
International Remittance Facility

1. Fixed Deposite

Date of Fixed Deposit

The effective date of Fixed Deposit shall be the date on which the Bank gets funds to its account. No Fixed Deposit Receipt is issued in anticipation of realisation of the cheque.

Currency, Period and Minimum Balance

A fixed deposit can only be opened in such currency, with such minimum balance and for such periods as the Bank may stipulate from time to time.

Requirements

The customer shall execute such agreements/ forms and provide and furnish such documents as may be required by the Bank. The documents listed in the application forms are not an exhaustive list of requirements and the Bank reserves the right to require submission of such other documents as may be determined by the Bank on a case to case basis.

Non Transferable and Non Negotiable

Fixed deposits placed with the Bank are non transferable and non negotiable and no right title interest therein or any part thereof can be transferred or secured by the customer to or in favour of any person without the prior written consent of the Bank.

DEFINITION

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Other Terms and Conditions

Fixed deposits are accepted with auto-renewal facility at periodicity as offered by the Bank and opted for by the customer.
A fixed deposit confirmation will be issued to the customer as may be decided by the Bank from time to time.
Customers are cautioned against volatility in exchange/ interest rates.
Interest will not be paid for deposits for a period less than one month, except in case of 1 week and 2 week deposits.
Applicable taxes, if any, is deducted from the interest on fixed deposit, as per applicable law.
Interest on fixed deposits will be credited into the customer's account at the rate(s) as may be from time to time prescribed by the Bank. Simple interest is paid at the applicable rate for deposits up to a period of 12 months. For deposits above 12 months, interest at the applicable rate is compounded annually.
Maturity instructions should be given in writing to the Bank at least 15 days before maturity date of the fixed deposit, otherwise the deposit will be automatically rolled over for the period as decided by the Bank from time to time at the Bank's prevailing rate(s).
Fixed deposits will not be ordinarily allowed to be withdrawn before maturity, whether partially or in full. The Bank may, however, at its sole discretion, consider requests for premature withdrawal of fixed deposits in extraordinary circumstances. In the event of the Bank consenting to part or all of a fixed deposit being withdrawn before maturity, interest will accrue for such period as may be determined by the Bank in its sole discretion and the Bank may deduct a premature withdrawal fee from the account of an amount as may be decided by the Bank in its discretion. A premature withdrawal in case of joint accounts requires signatures of all depositors. Notwithstanding anything contained herein or in any of the other terms and conditions pertaining to fixed deposits, for fixed deposits opened with absolute restriction on premature withdrawal, the customer shall not be entitled to prematurely withdraw the fixed deposit prior to its maturity date even by payment of premature withdrawal fee to the Bank, unless the Bank in its absolute discretion permits the same.
For the avoidance of doubt the fixed deposits of the customer shall be subject to the provisions of Section I, Clause 7 (Banker's Lien and Right of Set Off) of the Terms.
If any fixed deposit in Bahraini Dinar matures on a day which is not a day when the Bank is opened to the general public for business, the deposit shall be payable on the next succeeding day on which the Bank is so opened and interest shall be paid up to but excluding that succeeding day.
If any fixed deposit in a currency other than Bahraini Dinar matures on a day on which banks/ financial institutions in either the country of the relevant currency or in Bahrain are not opened to the general public for business, the deposit shall be payable on the next succeeding day on which all such banks/ financial institutions are so opened and interest shall be paid up to but excluding that succeeding day.

DEPOSIT PROTECTION SCHEME

Subject to the provisions thereof, deposits held with the Bahrain office of ICICI Bank Ltd Bahrain are covered by the Deposit Protection Scheme established by the Central Bank of Bahrain regulation concerning the establishment of a Deposit Protection Scheme and a Deposit Protection Board.

Deposits in the Bahrain Kingdom are covered by the Regulation Protecting Deposits and Unrestricted Investment Accounts issued by the Central Bank of Bahrain (CBB) in accordance with Resolution No. (34) of 2010.

Each eligible depositor shall be entitled under the Regulation to claim an amount equivalent to the amount deposited by him in an eligible account save that no eligible depositor shall be entitled to receive more than BD 20,000 (Twenty Thousand Bahraini Dinars) from the total amount of his eligible account held with the defaulting bank regardless of the number of deposits and their currency. Other currencies shall be converted into Bahraini Dinars at the exchange rate on the date on which the CBB determines that the conventional retail bank licensee is a defaulting bank.

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2. Recurring Deposit Terms & Conditions

These Terms and Conditions apply to and regulate the provision of Recurring Deposit product offered by ICICI Bank Bahrain Branch.

DEFINITION

"Recurring Deposit Account" or "Account" means the account opened in the name of the Depositor/s and maintained by ICICI Bank in connection with the Deposits.
"Account Opening Form" or "AOF" means the relationship form for Recurring Deposits Account. An Account may be opened by one Depositor or two or more Depositors jointly.
"Depositor/s" means any person holding an Account with ICICI Bank.
"Deposit" means the amount accumulated in the Account by monthly payment of the Instalment by the Depositor/s.
"ICICI Bank Bahrain" means ICICI Bank Bahrain Branch.
"Maturity Date" means the date falling on completion of one calendar month from the date of payment of the last Instalment.
"Primary Applicant" means the person referred to as the 1st Applicant in the AOF.
"Instalment" means the amount specified as instalment in the AOF, which shall be deposited recurringly by the Depositor/s into the Account on the specified period as agreed between the Depositor/s and ICICI BankBahrain Branch.
"CBB" means Central Bank of Bahrain.
"Standing Instruction/s" means any instruction given by a Depositor/s, either directly or indirectly, to ICICI Bank Bahrain through any mode acceptable to ICICI Bank Bahrain to transfer the Instalment from any savings account of the Depositor/s with ICICI Bank Bahrain to the Account.
"Services" means the services provided by ICICI Bank Bahrain in connection with the Account and more particularly described in these Terms.
"Statement/s" shall mean the communication sent on an quaterly basis to the Depositor/s stating the value of the Deposit on Maturity date, the value of the Deposit as on date of the communication and the rate of interest payable by the Bank on the Deposit.
"Tenure" means the period for which the Deposit is to be maintained commencing from the date of the deposit of first Instalment till the period as specified in the AOF.
"Website" refers to the website owned, established and maintained by ICICI Bank at the URL http://www.icicibank.bh.

INTERPRETATION

All references to singular include plural and vice versa and the word "includes" should be construed as "without limitation".
Words importing any gender include the other gender.
Reference to any statute, ordinance or other law includes all regulations and other instruments and all consolidations, amendments, re-enactments or replacements for the time being in force.
All headings, bold typing and italics (if any) have been inserted for convenience of reference only and do not define limit or affect the meaning or interpretation of these Terms.

DATE OF RECURRING DEPOSIT

The effective date from which the credit shall be given for any Instalment shall be the date on which ICICI Bank Bahrain gets clear funds into the Account of the Depositor/s.

INSTALMENT AMOUNT

The minimum core Instalment to be deposited by the Depositor/s for Recurring Deposit is BD. 10/- and thereafter in multiples of BD 10/- . The Depositor/s shall, at the time of opening the Account, stipulate the Instalment and the total number of instalments to be payable. The Instalment and the number of instalments cannot be altered subsequently.

PAYMENT OF INSTALMENT

Recurring Deposits instalments have to be paid by the depositor vide standing instructions being provided for making of debits from the depositor’s ICICI Bank Bahrain Savings account only. ICICI Bank Bahrain will not be responsible for informing/ advising the depositor to maintain adequate balance in his savings account to pay his instalments. Instalment for any calendar month must be paid on or before the last working day of that particular calendar month.

NON PAYMENT OF MONTHLY INSTALLMENT

Non payment of monthly installment will attract a penalty of 1% on the deficit amount between the total installment amount paid by the client at the completion of the tenure of the deposit against the deposit value commited at the time of opening the Recurring deposit and will be recovered from the maturity amount.

DURATION OF Recurring DEPOSIT

The recurring deposit can be maintained for a tenure of 12 months and 24 months.

PAYMENT OF INTEREST ON RECURRING DEPOSIT

Interest on the Deposits is calculated on monthly instalments paid, at the applicable rates as communicated to the Depositor/s at the time of Account opening and in the State ments. Such interest rates shall be in accordance with CBB directives if any from time to time(At present the Recurring deposit interest rates are decided by the Bank as CBB has not issued any directives for the same). The interest amount shall be paid to the Depositor/s on the Maturity date or on premature closure of the deposit.

MATURITY DATE

The Recurring Deposit will mature for payment on the date as has been pre-specified at the time of opening such account or 30 days after the last installment is paid, whichever is later (“the maturity date”). The maturity proceeds will be credited to the Savings account of the depositor. ICICI Bank Bahrain shall not be liable to make payment of any interest or other amounts on and from the maturity date of the Recurring Deposit.

REPAYMENT BEFORE MATURITY

If an Recurring Deposit is closed or discontinued for any reason before the maturity date(other than death of depositor), the amount of installments already paid shall be paid together with the interest calculated on daily balance basis at the interest rate applicable at the time of opening the ICICI Bank Bahrain Recurring Deposit for the period for which the ICICI Bank Bahrain Recurring Deposit has been continued minus pre closure charges as per the below clause
No interest will be paid if the deposit is closed with in 1 month. If the deposit is run for over a month customer will be paid interest calculated on the interest rate for the period for which he/she has maintained the deposit with the Bank at the time of opening of the deposit, in case the deposit sought to be withdrawn is held for a period that falls between two tenures for which deposits are offered by the Branch, the interest on the deposit would be calculated at the rate applicable for deposits of the shorter of the two tenures (as existing at the time of opening of the deposit sought to be broken). Bank will charge penalty of 1% on principle Plus Interest subject to protection of Principle (Total instalment amount paid till date).

CLOSURE OF ACCOUNTS

An Account will normally be closed upon payment of all the stipulated number of instalments on the maturity date. The Deposit together with interest shall be paid to the Primary Applicant’s ICICI Bank Bahrain Savings Bank Account.

NOMINATION

Nomination facility is not available in Bahrain.

DEPOSIT PROTECTION SCHEME

CHANGE IN TERMS

ICICI Bank Bahrain reserves the right to revise the terms and conditions contained herein and shall notify the Depositor/s of such revised terms and conditions in writing one month prior to its implementation. Such revised terms and conditions shall then be binding on the Depositor/s.

The terms and conditions set out in General Terms and Conditions Governing Accounts shall also apply to Recurring Deposits opened and maintained with the Bank, as amended, modified, supplemented and varied from time to time, in addition to the terms and conditions set out in this section.

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3. Call Account (also called Call Deposit Account)

The Call Account shall at all times be maintained by the customer with credit balance and no overdraft facility will be available in connection with the same.
The Call Account can only be opened in such currency and with such minimum balance as the Bank may stipulate from time to time.
The Call Account and amounts lying to the credit therein are non-transferable and no right title interest therein or any part thereof can be transferred or secured by the customer to or in favour of any person without the prior written consent of the Bank.
Interest is calculated on the credit balance maintained in the Call Account at the end of each day at the rate as may be determined by the Bank from time to time at its sole discretion. Interest so calculated shall be credited to the Call Account on a monthly basis within 3 business days after the end of each calendar month.
The Bank reserves the right to impose service charges on accounts and the services in connection therewith as may be determined by the Bank in its sole discretion including without limitation any charges which may be permitted or suggested pursuant to the rules of any regulatory body or organisation of which the Bank is a member.
For the avoidance of doubt the balances lying to the credit of Call Account shall also be subject to the provisions of Section I, Clause 7 (Banker's Lien and Right of Set Off) of the Terms.

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4. Current Accounts

The Current Account shall at all times be maintained by the customer with credit balance and no overdraft facility will be available in connection with the same.
A cheque may only be issued if sufficient funds are available in the Account to pay against the cheque.
The cheques shall be provided to the account holder by the Bank upon the payment of such fee as may be prescribed by the Bank.
The facility to draw cheques against balances in the Account shall be made available subject to such fee as may be prescribed and strict compliance by the account holder with all instructions, procedures and processes prescribed by the Bank with respect to cheques.
Unused cheques must be kept in a secure place.
The account holder will be held responsible for misuse of cheques or failure to ensure proper handling of cheques.
All unused cheques must be returned to the Bank or accounted for (to the satisfaction of the Bank) at the time of closure of the account.
The Bank reserves the right to refuse to honour a cheque if it doubts the authenticity of the cheque.
Bearer cheques may not be issued without the express written consent of the Bank.
The issue, acceptance and clearing of cheques is regulated by the CBB and these Terms and the use of the cheques shall be subject to the instructions and guidelines of the CBB.
The Current Account can only be opened in such currency and with such minimum balance as the Bank may stipulate from time to time.
No right title interest therein or any part thereof can be transferred or secured by the customer to or in favour of any person without the prior written consent of the Bank.
No interest shall be paid in the Current Account.
The Bank reserves the right to impose service charges on accounts and the services in connection therewith, as may be determined by the Bank in its sole discretion including and without limitation, any charges which may be permitted or suggested pursuant to the rules of any regulatory body or organisation of which the Bank is a member.
As provided in the rule book of Central bank of Bahrain(CBB), the bank must share the details of cheque returns meeting certain criteria.
The Bank reserves the right to implement the restrictions on the account of a person declared an "abuser of cheques" by CBB as set out in the Chapter BC 5 of the CBB Rulebook on Business and Market Conduct - the rulebook is available at the CBB website.
The terms and conditions set out in this section shall, in addition to the general terms and conditions ("Terms"), apply to current accounts opened and maintained with the Bank, as amended, modified, supplemented and varied from time to time.

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5. Touch & Remit (KIOSK Remittance)

The following are the terms and conditions(“Terms”) governing the use of the KIOSK Facility (as defined below) for availing the remittance services being offered to the Remitter (as defined below) by the Bank (as defined below). In case these Terms are not acceptable, please do not use the KIOSK Facility. The acceptance of these Terms and any other applicable document(s) and agreement(s) pertaining to the KIOSK Facility are a pre-requisite for the use of the KIOSK Facility. The Terms may be revised and/ or updated from time to time by uploading the Terms on the Website of the Bank (as defined in the Form) and it is recommended that the Remitter visits the Website on every occasion that the Remitter (as defined below) intends to access and/ or use the KIOSK Facility to enable the Remitter to be aware of the applicable Terms that govern the use of the KIOSK Facility thereof. If any of the Terms is/ are not acceptable to the Remitter or any material (and information thereto) available on the Website is/ are not acceptable to the Remitter, unless otherwise stated herein, the Remitter’s sole and exclusive remedy is to discontinue using the KIOSK Facility. By using and continuing to access and/ or use the KIOSK Facility, the Remitter agrees to be unconditionally bound by these Terms or the updated Terms (as the case may be). The Remitter agrees that his continued access and/ or use of the KIOSK Facility after such update will constitute the Remitter’s acceptance of and agreement to be bound by the updated Terms

The Remitter agrees, acknowledges and confirms that he has read and understood these Terms, and that these Terms shall be in addition to and not in derogation of the terms and conditions contained in the Remittance Kiosk Application Form (“Form”) and the General Terms and Conditions Governing Accounts of the Bank (“GTC”) .

For avoidance of doubt:

the Terms and the Form shall be read together, which shall in turn be read together with the GTC; and
in case of any inconsistency between (i) these Terms and/or the Form and (ii) the GTC, these Terms and/or the Form shall prevail.

Unless otherwise defined in these Terms, all terms and references used in these Terms shall have the same meanings as ascribed to it in the GTC or the Form.

DEFINITIONS

Unless the context requires otherwise, the following expressions shall have the following meanings in these Terms:-

"Bank"shall mean ICICI Bank Limited, Bahrain branch, being a conventional retail branch in the Kingdom of Bahrain with its office at Manama Centre, Manama, PO Box 1494, Kingdom of Bahrain. The registration number of the Bank is 53042-1.

"Beneficiary"shall mean such beneficiary registered with the Bank for purposes of the remittance and to whom the Remitter wishes to remit or transfer funds using the KIOSK Facility.

“Foreign Amount”shall mean the funds denominated in the foreign currency amount specified by the Remitter to be credited in the Beneficiary’s bank account.

“ICICI Bank Limited India”shall mean ICICI Bank Limited, a company incorporated under the Companies Act, 1956, of India and licensed as a bank under the Banking Regulation Act, 1949, of India, having its registered office at ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara 390007.

"KIOSK Facility" or “Facility”shall mean the KIOSK facility or service offered by the Bank at the request of the Remitter, in respect of which the Remitter may provide instructions in the form of a Remittance Request by visiting the Bank or the KIOSK machine to transfer and/or remit funds to a Beneficiary’s bank account.

“Rates and Charges”shall mean the rates and charges applicable to the KIOSK Facility rendered by the Bank, as may be determined by the Bank from time to time and subject to such amendments/modifications, as may be notified by the Bank. The Rates and Charges may be provided / updated on the website ( http://www.icicibank.bh) (The "Website").

“Remittance Request”shall mean the instruction given by a Remitter to the Bank through filling up the Form by visiting the Bank or through the KIOSK electronically to process a Remittance Transaction in favour of a Beneficiary.

“Remittance Transaction”shall mean the remittance or transfer of funds made pursuant to each Remittance Request to a Beneficiary’s bank account.

“Remitter”shall mean an individual who has successfully completed the Form and successfully applied for the KIOSK Facility in order to avail the KIOSK Facility.

In these Terms, words importing the singular shall, where applicable, include the plural and vice versa, and a reference to one gender shall, where applicable, include the other genders.

THE KIOSK FACILITY

The KIOSK Facility shall be made available to the Remitter at the sole discretion of the Bank and upon request of the Remitter. The Bank may from time to time require the Remitter to agree to additional terms and conditions for the continued use of the KIOSK Facility.
The Bank shall exchange, share or part with all the information relating to Remitter (including, but not limited to remittance facility details) to its other group companies/ other banks and financial institutions, credits bureaus, agencies, statutory bodies, any person (including any agent, contractor or third party service provider) with whom the Bank contracts or proposes to contract with regard to the provision of services in respect of the Remitter’s account(s) or in connection with the operation of the Bank's business, as may be required and the Remitter shall not hold the Bank liable for use or disclosure of the information.
One-time registration:
1. Each Remitter intending to use the KIOSK Facility is subject to a one-time registration with the Bank, whereby the Remitter shall register himself and each Beneficiary and Beneficiary’s details with the Bank.
2. Registration of the Remitter and of each Beneficiary may be done by the Remitter personally at the Bank
3. Where the Beneficiary is an account holder of ICICI Bank Limited India, Remitter will have to provide the account number and the type of account of the Beneficiary.
4. Where the Beneficiary is not an account holder of ICICI Bank Limited India, Remitter will have to provide the name of the Beneficiary's bank, complete branch address with postal code, account number along with the type of the account that the Beneficiary holds.
5. Where the Beneficiary holds a 'Basic Savings Bank Deposit Account' (‘Small Account’) as defined by the Reserve Bank of India (“RBI”) in India, Beneficiary’s registration will be rejected and Remitter's money transfer request will not be completed, as the RBI restricts credit of foreign remittance in such account types. This restriction is as per RBI’s guideline on Small Account and will be amended as and when RBI issues required guidelines.
6. The KIOSK Facility, therefore, may only be used upon registration of the Remitter and of each Beneficiary in the manner provided above, subject to such verification process as may be required.
Post successful registration, Remitter will have to log in to the KIOSK with his SMART CARD issued by Government of Bahrain. The funding of the Remittance Transaction can be done by inserting Bahraini Dinar cash in to the Kiosks.
The Remitter shall be wholly responsible for all Remittance Transactions executed via the KIOSK Facility. Each Remittance Transaction is irrevocable.
The Remitter accepts the Bank´s record of Remittance Transactions as conclusive and binding for all purposes. Without prejudice to the generality of the foregoing, in the event of any unsuccessful attempt by the Remitter to credit the Beneficiary´s bank account (including partially successful fund transfers) through the KIOSK Facility for any reason whatsoever, the Bank´s determination of the actual amount (if any) transferred shall be conclusive and binding on the Remitter.
The Remitter is solely responsible for ensuring the accuracy, adequacy and completeness of each Remittance Request. The Bank shall not be obliged to verify the accuracy, adequacy and completeness of any Remittance Request. The Bank shall not be responsible for any loss or damage suffered by the Remitter as a result of:-
1. Any Remittance Request being inaccurate, inadequate, incomplete, ambiguous or inconsistent in any way; or
2. Any failure, refusal, delay or error by any third party through whom the Remittance Transaction is made to the intended Beneficiary.
The Remitter shall be solely responsible for maintaining the confidentiality of any personal or other information of the Remitter in relation to the use of the KIOSK Facility.
The funds may be transferred through intermediary banks or other financial institutions before reaching the Beneficiary’s bank, and those intermediary banks or other financial institutions are solely responsible for crediting the Beneficiary’s Bank Account(s) designated by the Remitter.
The Bank does not warrant that the transfer of funds will reach the Beneficiary. It may make use of any branch, or correspondent, agent or sub-agent, intermediary banks or other financial institutions and shall not be liable for any errors, negligence, suspension or default of any of them or for any failure to identify the Beneficiary, the Beneficiary’s Bank Account or any mispayment by any of them nor shall the Bank be under any liability for any errors, mutilations, delays, misdelivery or failure of delivery in the transmission of any message in connection with the transaction, whether or not in code or any such means of transmission or for any imposition of any exchange control or other restriction, all such risks being borne by the Remitter. Under no circumstances shall the Bank be liable for any consequential damages of any sort.
Without prejudice to the foregoing, in the event that the Foreign Amount is not received by the Beneficiary, whatever be the reason, any liability of the Bank will be conditional upon its receipt of confirmation from its branch, correspondent, agent or sub-agent, intermediary banks or other financial institutions of the failed remittance overseas and shall be limited to refunding the Remittance Amount.
Without prejudice to the Terms herein, any refund(s) may be permitted at the Bank’s sole discretion and such refund(s) shall be at such buying rate of exchange, as may be determined by the Bank for the relevant currency. The Remitter agrees to bear all charges and expenses in connection with such refund(s) and the Bank may deduct such charges and expenses (as may be applicable) prior to the disbursement of any refund(s).
Neither ICICI Bank Limited nor the Bank shall be liable or be held liable for consequences, of any incomplete/incorrect data or information or instructions and/or any related error in the execution/implementation of a Remittance Transaction due to such incomplete/incorrect data or information or instructions provided by the Remitter via the KIOSK Facility.
Without in any way affecting and notwithstanding any other provision in these Terms, the Bank shall not be responsible for any charges imposed or any other claim or action made or taken by the Beneficiary, or any loss, liability or damage which may be suffered by the Remitter, including but not limited to, in any of the following circumstances:
1. The Remitter did not correctly use the Remittance KIOSK Facility
2. Any Remittance Transaction is prohibited by any applicable law or regulation; or
3. Any circumstances beyond the Bank’s reasonable control that prevents the crediting of the Beneficiary’s Bank Account(s), despite reasonable precautions being taken by the Bank, and without in any way affecting and notwithstanding any other provision in these Terms, the Remitter shall indemnify the Bank and hold the Bank harmless from and against all and any loss, liability or damage (whether direct or indirect) which the Bank may incur as a result of the above or any of the Remitter’s acts or omissions in relation to or arising out of the Remitter’s use of the KIOSK Facility.
The Remitter further acknowledges, confirms and agrees that he shall indemnify and keep indemnified ICICI Bank Limited and the Bank against any losses, damages, demands, claims, liabilities, costs and expenses (including all legal costs on a full indemnity basis), arising as a result of:-
1. The Bank acting upon any instructions, including without limitation, inaccurate, inadequate, or incorrect/incomplete instructions, data or information (personal or otherwise), received from the Remitter in connection with the use of the KIOSK Facility;
2. The Bank, its employees, agents or contractors are unable to perform any of its obligations due, whether directly or indirectly, to the failure of any machine, data processing system or transmission link or anything beyond the control of the Bank, its employees, agents or contractors, or as a consequence of any fraud or forgery; or
3. Any improper or unauthorized use of the KIOSK Facility, and/or the failure of the Remitter to maintain the confidentiality of any personal or other information of the Remitter in relation to the use of the KIOSK Facility.
Any calculation, conversion, determination or certification by the Bank of a rate or amount in relation to any Remittance Transaction or utilization of the KIOSK Facility shall, in the absence of a clear and obvious error, be conclusive evidence of the matters to which it relates.
The Bank reserves the right, at any time and from time to time, with or without notice, to cancel, withdraw, suspend, vary, change, add to or supplement any of the services and facilities offered to Remitter hereunder. When new services or facilities are introduced, supplemental terms and conditions governing such services may be introduced and notified to the Remitter in writing. The Remitter shall be deemed to have accepted and agreed to be bound by such terms and conditions upon utilization of such services or facilities.
The Remitter acknowledges that the KIOSK Facility is provided ‘as is’ without warranty of any kind, either express or implied and the Remitter uses it at his sole risk. All express, implied, statutory and other warranties, including without limitation, the warranties of merchantability, fitness for a particular purpose, and non-infringement are expressly disclaimed to the fullest extent permitted by law. The Bank disclaims to the fullest extent permitted by law, any warranties for the security, reliability, accuracy, timeliness and performance of the KIOSK Facility.
These Terms shall be governed by, and construed in accordance with the laws of Kingdom of Bahrain. The Remitter hereby irrevocably submits to the non-exclusive jurisdiction of the courts of Kingdom of Bahrain in connection with any action or proceeding that may arise out of or in connection with the KIOSK Facility. Such submission shall not prejudice the Bank’s right to commence action against the Remitter in any other court of competent jurisdiction.
No failure or delay by the Bank in exercising or enforcing any right or option under these Terms shall operate as a waiver thereof or limit, prejudice or impair the Bank’s right to take any action or to exercise any right as against the Remitter or render the Bank responsible for any loss or damage arising therefrom.
If any one or more of the provisions of these Terms are deemed invalid, unlawful or unenforceable in any respect under any applicable law, the validity, legality and enforceability of the remaining provisions of these Terms shall not in any way be affected or impaired.
Under no circumstances shall the Bank be liable regardless of the form of action for any failure of performance, system, server or connection failure, error, omission, interruption, breach of security, computer virus, malicious code, corruption, delay in operation or transmission, transmission error or unavailability of access in connection with accessing the Website and/or using the online services even if the Bank had been advised as to the possibility.

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6. Terms and Conditions Governing the International Remittance Facility

1. General

The Facility offered by the Bank to its Registered Users (defined hereinafter in Clause 3.3) is in addition to the remittance facility offered by ICICI Bank Ltd. (India) through Money 2 India (M2I) and through tie-ups with Correspondent Banks and Exchange Houses, which are governed by the respective terms and conditions for such remittance facility. The Generic Terms and Conditions for M2I would be mutatis mutandis applicable to the Facility of the Bank, so far as the Facility is utilising the services under M2I, whether such utilisation is done by the Registered Users or by the employees or agents of the Bank for the Registered Users.

2. Eligibility

Only Registered Users of the Facility (defined hereinafter in Clause 3.3) are eligible to avail the Facility.
Remittances can only be made to a registered beneficiary.

3. Registration

Applicant(s) desiring to Register with the Bank for availing the facility need(s) to execute Remittance Registration Form or such agreements/ forms and provide and furnish such documents as may be required by the Bank. The documents listed in the application forms are not an exhaustive list of requirements and the Bank reserves the right to require submission of such other documents as may be determined by the Bank on a case to case basis.
The Registration shall be carried out only when the documents submitted to the Bank are complete in all respects to the satisfaction of the Bank. Acceptance of documents by the Bank does not confer any right to the applicant for registration. The applicant or the Registered User as the case may be, is bound to furnish any further documents or rectification of the documents already submitted to the Bank as and when required by the Bank. The Bank is entitled to hold back or suspend the Registration or part or whole of the services offered/ provided or to be offered or provided to the applicant or Registered User till receipt of the documents or rectification as sought by the Bank.
Each applicant on Registration will be represented by a remittance Identification No. ("Remittance ID")The Registered applicant who has been issued the Remittance ID is referred hereinafter as "Registered Users".

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4. Registration of the Beneficiary

a) In order to register a Beneficiary the Registered User will have to provide the Bank with the following details for each Beneficiary

Name of the Beneficiary
Postal address of the Beneficiary
Beneficiary's Account Number.

- Where the Beneficiary is an account holder of ICICI Bank, India the Registered User will have to provide the Bank with the Account number of the Beneficiary and type of account.

- Where the Beneficiary is not an ICICI Bank, India account holder the Registered User will have to provide the Bank with name of the Beneficiary's Bank, branch address, account number along with the type of the account the Beneficiary holds.

b) The Registered User may also need to provide the Bank with a valid email address of the Beneficiary.

The Registered User may be required to provide the Bank with certain additional details of the Beneficiary depending on the payment transfer method chosen.

The Registered User will have to provide a unique nick name for each nominated Beneficiary in order to enable the Bank to identify that nominated Beneficiary.

When a Beneficiary is nominated to be registered for remitting money the Bank will check whether that beneficiary is already registered. If the beneficiary is not registered Anti- Money Laundering checks will be conducted on the beneficiary details as provided. The beneficiary will be registered within a reasonable period of time after verifying the beneficiary details provided. Once the beneficiary is registered the Registered User can transfer money to the beneficiary. The beneficiary registration status will be available under the "Registered Beneficiary" option accessible by the Registered User in the logged in section of internet banking.

For each remittance transaction, the amount to be remitted to the Registered Beneficiary and confirmation for further processing of transaction will have to be provided by the Registered User.

Any number of beneficiaries can be registered by a Registered User.

Once a transaction along with the Registered Beneficiary details has been confirmed by the Registered User it cannot be changed.

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5. Other Terms

The Bank shall not be under any duty to assess the prudence or otherwise of any instruction or transaction given or entered into by the Registered User.
The Bank shall be entitled, in its sole and absolute discretion, to refuse to comply with all or any of the Registered User instructions without assigning any reason.
The Registered User cannot cancel any instructions once provided, save and except as specifically permitted by the Bank. Additionally, when the Registered User places a request to cancel an instruction or a transaction that has been authorised by the Registered User, such cancellation is not guaranteed by the Bank. Such instruction or transaction will only be cancelled if the Registered User's request for cancellation is received and acted upon before the instruction or transaction has been executed.
The Bank and the Alliance Partners shall have the right to, and the Registered User hereby authorises The Bank and the Alliance Partners to, verify any information provided by the Registered User.
The Bank shall endeavour to take reasonable measures, which may include encryption, to ensure that the Registered User's personal information is not disclosed to any person except to the Bank, Alliance Partners, Service Providers, other persons to whom the information may be provided as per the Bank's Privacy Policy and other persons specified by the Registered User. However, since the Bank is using the Internet for executing the remittance requests and Internet is an open system and the Bank cannot, and does not, guarantee that the personal information which the Registered User furnishes will not be intercepted or accessed by others and decrypted. The Bank, the Alliance Partners and Service Providers shall not be liable or responsible should any confidential or other information provided by or pertaining to the Registered User (included credit card numbers, bank account numbers, passwords, personal identification numbers, IDs, transaction details, etc.) be intercepted and subsequently used by an unintended recipient.
REWARD POINTS: Any scheme for awarding or securing reward points or other rewards or prizes (by whatever name called) is available only to Persons who are eligible for the same under the rules of the concerned scheme and the applicable laws of India and other concerned jurisdictions. The Registered User is therefore required to verify that the Registered User is eligible before participating in any such scheme. The Bank is not responsible or liable for the performance, quality or any other aspect of any rewards, prizes or items manufactured or supplied by third parties against any redemption of the points or otherwise pursuant to such scheme, and the Registered User's recourse for the same will be only against the persons who have manufactured or supplied the same.
The Transaction limit for Online transaction using Internet is BHD 4500 per remitter, per transaction. ICICI Bank Limited Bahrain Branch reserves the right to modify/change the limit without giving prior notice.
The Registered User needs to check the account statement for successful transactions done in last 30 minutes, before proceeding to the next transaction.

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6. Disclaimers

The Bank disclaims the liability to any damage or injury caused by any failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communication line failure, theft or destruction or unauthorized access to, alteration of, or use of record, whether for breach of contract, tortuous behaviour, negligence, or under any other cause of action.
The Bank offers the Facility strictly on a no-liability basis and ICICI Bank shall not be liable to the Registered User or any other third party for any direct, indirect, incidental, special, exemplary, punitive, consequential or other damages (including without limitation loss of profits, loss or corruption of data, loss of goodwill, work stoppage, computer failure or malfunction, or interruption of business) under any contract, negligence, strict liability or other law or theory arising out of or in connection with the Facility, or any Facilities, products or services mentioned or advertised on or accessed or availed or any contract or transaction entered into or executed in pursuance thereof (however arising, including negligence) or resulting from the use of or inability to use, access or avail of the Facility, service or product or out of any breach of any warranty. Under no circumstance shall the Bank be liable for any damages whatsoever whether such damages are direct, indirect, incidental consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character or nature whatsoever and whether sustained by the Registered User or any other person.
If any disclaimers or limitation of liability in the Terms and Conditions are held to be unenforceable, the maximum liability of the Bank (or the concerned Affiliate Partner or Service Provider, as the case may be) to the Registered User shall not exceed the amount of fees paid/payable by the Registered User to the Bank (or the Affiliates Partner or Service Provider, as the case may be) for the Facilities, products or services that the Registered User have ordered or availed.
Delays in the Transactions and Non-Liability for Damages:

While the Bank shall endeavour that the Registered User's instructions and the Registered User's transactions pursuant to Facilities provided by the Bank are communicated, carried out and/ or performed promptly, the Bank does not guarantee that any instructions will definitely be communicated or carried out or that any transactions will definitely be performed; and the Bank shall not be responsible for any delay in communicating, carrying out or performance of any instructions or transactions due to any reason whatsoever, including by reason of failure of operational systems for reasons including but not limited to virus attacks, natural calamity, floods, fire and other natural disasters, legal restraints, faults in the telecommunication network or network failure, software or hardware error, labour problem, strike or any other reason beyond the control of the Bank.

The Bank shall not be responsible for any unauthorised interception of e-mail or any other communication through whatever mode to or from ICICI Bank.
To the extent possible, the disclaimers, limitations on liability and indemnities available to the Bank under the Terms and Conditions shall mutatis mutandis extend and be available also to the Alliance Partners and Service Providers and its/ their respective directors, officers, employees, agents, successors, assigns, consultants, sponsors, affiliates, content providers and every one involved in creating, producing, delivering or managing the Website (or any part thereof) or any Facility. However this clause shall not protect the aforesaid Persons or extend to their obligations and liability to the Bank or the Bank's claims against them.

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7. Terms specific to the Facility

Subject to the relevant regulatory approvals, terms and conditions imposed while granting the necessary approvals and other terms of this Facility, this Facility, on it being made available, enables the Registered User to remit or send foreign currency from Bahrain to an account in India after conversion into Indian Rupees. The Bank shall be responsible for acting on the remittance requests, collecting money in foreign currency, converting it into INR and remitting it to the beneficiary in India as instructed by the Registered User. The foreign exchange conversion rate shown for the calculation on the Website is only indicative to help the Registered User to arrive at an approximate INR amount that the beneficiary will receive. It is in no way guarantees or represents, the foreign exchange conversation rate that will actually be applied to the foreign exchange sent by the Registered User (the remitter). The Bank will be responsible for the conversion to INR, and will apply the foreign exchange conversation rates prevailing on the day of conversion, or other rates as per its discretion.
The Registered User should pay the foreign currency in cash or debit to account or by cheque or draft or such other acceptable mode. Payment of the foreign currency by credit card will not be accepted. The Bank will remit the funds into India only after it has received a confirmation that such foreign currency has been received in its account. Thereafter, after deducting the appropriate charges/ fees, the money will be transmitted by the Bank to the bank account in India designated by the Registered User. If it comes to the notice of the Bank that the Registered User had insufficient funds in the account from which the Registered User requested the remittance of money, the Bank may cancel the requested remittance transaction and the Registered User/ the Registered User shall bear full liability and responsibility for the same. In the event the above is learnt by the Bank after the recipient of the remittance has encashed the DD or otherwise received the remittance, the Registered User will be liable to reimburse the Bank of the amount remitted and any other charges and costs incurred by the Bank. The Registered User agrees to pay to the Bank such amount immediately upon the Bank's demand along with interest @ 2% per month from the date of the remittance by the Bank till the receipt of funds by the Bank from the Registered User. The Registered User also agrees to pay for all costs associated with the recovery of amounts owed to the Bank, including reasonable attorney's fees and court fees. The Bank shall also be entitled to inform any credit bureau or any other person or entity if the Registered User fails to pay/ reimburse such amount or any part thereof to the Bank.
While it shall be the Bank's endeavour to adhere to the time schedule indicated by it, the Bank will not be responsible or liable for any changes in the time schedule for execution of the Registered User's instructions or remittance/ credit of funds for any reason. The Facility or the instructions for availment of the Facility should be construed as advice of any nature and the Registered User is advised to consult professionals in this regard prior to taking any decision. Further, this Facility does not, in any way, solicit or encourage the Registered User to enter into any such transaction. The Bank shall not, under any circumstances, be responsible for any loss suffered due to any fraud or other actions of the Registered User. Further, this Facility is offered subject to the applicable laws of any other country, including the country from which the funds are to be remitted, and it shall be the Registered User's responsibility to ensure that these laws are adhered to. The Bank accepts no liability whatsoever, direct or indirect for non-compliance with the laws of any country other than that of Bahrain. In the event the person to whom the funds are remitted requires for any reason the funds to be redirected to another account/ location, or any other additional service is required, the Bank shall levy additional charges and remit the amount after deducting such additional charges.
The Bank shall in no way be held responsible and/or be liable for any queries, errors, disputes or delays in messaging, money transmission, currency conversion, conversion rates offered, payment to the beneficiaries of the remittances or any other query, claim or dispute. The Bank will, however, assist the Registered User in contacting the Bank to facilitate resolution of such queries, claims and disputes to the best of the Bank's ability.
The Registered User will not be entitled to any interest for the period during which the funds to be remitted are with the Bank, or pending remittance or are in the course of remittance, or for any other period.
The Registered User hereby authorizes the Bank to check the Registered User's credit history at the time of and/or prior or subsequent to Registration and to obtain follow-up credit reports relating to the Registered User.
The Registered User hereby agrees that, where the Bank so deems advisable or necessary, the Bank may hold the money (to be remitted to India) for longer than the usual time for remittance, and may delay the remittance.
The Registered User hereby agrees that the Bank has no control over when the beneficiary's financial institution (though whom the beneficiary chooses to receive the remittance) makes such funds available for the beneficiary's use and the Bank shall not be responsible for any delay or default on the part of such financial institution.
The Registered User confirms that the remittances are not meant for any purpose, which is in conflict with any law in Bahrain, India, or elsewhere.
Under no circumstances will the funds to be remitted to India or any portion thereof be allowed to be transferred out of India under the Facility.

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8. Disclosure

The Registered User hereby irrevocably authorises the Bank to disclose, as and when the Bank is required to do so by applicable law or when the Bank regards such disclosure as necessary or expedient (including but not limited to disclosures for the purpose of credit review of any account of the Registered User with the Bank or any ICICI Bank Limited branch whether singly or jointly with others or otherwise), any information relating to the Registered User, its account(s) or other assets held on the Registered User's behalf to:

Any Registered User with an account with any branch of ICICI Bank Limited located outside Bahrain hereby agrees to provide on a voluntary basis all his / her / its personal and account information and records to the Bank which, together with any information generated or received by the Bank, may be:
The Registered User hereby agrees and consents that the Bank shall be entitled, in connection with the Registered User's application for any account, facilities or services provided by the Bank, or during the course of the Registered User's relationship with the Bank, to obtain and procure information pertaining to the Registered User or any of his/ her/ its accounts, legal or financial position from whatever sources available to the Bank.

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9. General Provisions

The Terms as amended from time to time as aforesaid together with other rules of the Bank pertaining to specific products shall constitute a binding contract between the Registered User and the Bank and the Registered User represents and warrants that these Terms will be legal, valid, binding on and enforceable against the Registered User, his/ her/ its executors, administrators, successors and/ or other legal representatives.
The Bank has been granted a Conventional Retail Banking license by the Central Bank of Bahrain (CBB). The CBB has granted license to the Bank for establishing a Retail Banking Unit (RBU) with a permission to provide banking services to all nationalities in the Kingdom of Bahrain. As an RBU the Bank is expected deal with residents only to the extent permitted by CBB. As part of the retail banking services the Bank is permitted to offer banking services to individuals of all nationals resident in Bahrain. The Bank is now part of the clearing system of Bahrain and is subject to the terms on which the Bank has been admitted as a member of the local clearing system. For more information about the Bank, you may approach any office of ICICI Bank Ltd.
Neither the Bank nor any of its agents, employees or servants shall be responsible or liable in any way for any direct or consequential loss suffered by the Registered User, its agents, employees or servants in any of the following situations:-
The Registered User undertakes and agrees to indemnify the Bank on a full indemnity basis against all present and future stamp duties, taxes (but excluding taxation on the Bank's profits), levies, losses (direct or consequential), costs, charges, expenses (including legal fees on a full indemnity basis) and other liabilities incurred by the Bank as a result of or in connection with the execution, delivery, registration, performance or enforcement of the Terms or losses and/or damages which the Bank may incur in giving effect to the Registered User's instructions, including but not limited to losses, damages, costs, expenses and/ or charges arising from:-

These indemnities constitute a separate and independent obligation from the other obligations contained in the Terms, shall give rise to a separate and independent cause of action, shall apply irrespective of any indulgence granted by the Bank and shall continue in full force and effect despite any judgement, order, claim or proof for a liquidated amount in respect of any sum due under the Terms, any judgement or order. No proof or evidence of any actual loss may be required.

The invalidity, illegality and enforceability of any of the provisions of the Terms shall not prejudice or affect in any way the validity, legality or enforceability of the remaining provisions of the Terms. Any provision of the Terms that is invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction only, be ineffective to the extent of such invalidity, illegality or unenforceability, without rendering invalid, illegal or unenforceable the remaining provisions of the Terms in such or any other jurisdiction.

If any provision in the Terms shall conflict or become inconsistent with any applicable laws or regulations for the time being in force or the rules of any relevant authority or body having jurisdiction over the subject matter of the Terms or its application, then for such purposes (but not further or otherwise) the Terms shall be construed as if such provision shall have been modified in such manner as the Bank may in its discretion deem necessary for the purpose of giving the fullest possible legal effect to the Terms.
No failure or delay on the part of the Bank in exercising any right, power or privilege under the Terms shall operate as a waiver thereof or of any other right, power or privilege of the Bank, nor shall any single or partial exercise of any right, power or privilege of the Bank preclude any other or further exercise hereof or the exercise of any other right, power or privilege of the Bank.
In the event of war, revolution, insurrection, military disturbances, riot, civil commotion or other similar action, strike, lockout, stoppage or restraint of labour, seizure or confiscation of currency or other assets or other governmental action, any imposition of currency exchange control by any government, any act of God, any event outside the control of the Bank, or any implementation of any laws, by-laws, restrictions, regulations, orders or directives imposed by any authority, regulatory body or government, whether or not having the force of law, which in the Bank's opinion hinders or prevents the performance by the Bank of its obligations under the Agreement (whether of delivery or payment or otherwise) or any Contract (an "event of force majeure"), then the Bank may elect either (i) to postpone its performance until the event of force majeure no longer has such effect or (ii) terminate the Terms by giving 30 days' notice to the Registered User.
The Registered User may not assign any of its rights or transfer any of its obligations hereunder. The Bank shall be entitled to assign all or part of its rights and/ or transfer all or part of its obligations hereunder to such party as it may deem fit without further reference to the Registered User.
Unless otherwise agreed, any notice or other communication (other than statements of account and balance confirmation certificates) to the Registered User may be delivered to the Registered User personally or sent by post, telex or fax at the address, telex or fax number given in the relevant account opening form of the Bank signed by the Registered User or as last notified in writing to the Bank and shall be deemed to have been received by the Registered User two (2) days after dispatch if sent by post to an address in Bahrain, or seven (7) days after dispatch if sent by post to an address outside Bahrain, or immediately upon completion of transmission if sent by fax or telex and immediately upon delivery if delivered personally.

The Registered User shall notify the Bank immediately of any change of address or other information previously provided to the Bank by the Registered User and deliver to the Bank the relevant documents detailing such changes.

Any writ, summons or other process may be served on the Registered User by mailing the same to the Registered User in accordance with the above and shall be deemed to be good service on the Registered User. The foregoing shall not however preclude the Bank from effecting service of process in any other manner permitted by law.

The Bank reserves to itself the right to alter, delete or add to any of the Terms at any time in its discretion and such alterations, deletions or additions shall be deemed to be effective and binding on the Registered User 30 days after the Bank's notice thereof to the Registered User.
The Terms shall be governed by, and construed in accordance with Bahrain law. The Registered User hereby irrevocably submits to the non-exclusive jurisdiction of the Bahrain courts in connection with any action or proceeding that may arise out of or in connection with the Terms. Such submission shall not prejudice the Bank's right to commence action against the Registered User in any other court of competent jurisdiction.

ICICI Bank Limited Bahrain Branch reserves the right to modify the General Terms and Conditions without giving prior notice.

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ICICI Bank Limited's Bahrain Branch is Licensed and regulated as an overseas conventional retail bank by the Central Bank of Bahrain, located at Manama Centre, Manama, P.O. Box-1494, Bahrain.

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