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Terms and Conditions

See below all Terms and Conditions

AliExpress Mastercard Campaign Terms and Conditions

Please find the Terms and Conditions HERE.

Car Finance Terms and Conditions

Please find the Asset Finance Terms and Conditions Here

Carrefour & Mastercard Campaign Terms and Conditions

This offer is subject to availability and may be limited at the discretion of the bank
Customer can avail the discount once per weekend.
This offer is valid on purchases made on the Carrefour mobile app and website using any I&M Bank debit, credit and prepaid Mastercard cards.
A discount of 20% is limited to one transaction per customer every weekend, on a minimum order value of 5,000 KES with a maximum discount of 1,000 KES, provided the customer uses an eligible Mastercard card at checkout and uses the promo code MA20.
This offer cannot be combined with vouchers or coupon codes or MyClub points.
Purchase reversals, refunds and transactions disputed by the customer are excluded from this offer.
This promotion is not available to any customers who are considered wholesalers.
Majid Al Futtaim Hypermarkets Limited shall not be liable to you if you suffer any financial loss or damage from our refusal to allow you to take part in the promotion or our withdrawal of the promotion or any failure or inability by you to use the promotion for any reason.
These terms and any disputes or claims arising out of, or in connection with, its subject matter or formation (including non-contractual disputes or claims) are governed by and construed in accordance with the laws of Kenya.

CDSC Accounts I&M General Terms and Conditions

Please find the Terms and Conditions HERE

Collections Service Terms and Conditions

1. The service is bound to I&M Bank General Terms and Conditions, I&M Bank Privacy Notice, Terms and Conditions governing use of Lipa na Mpesa

service as published by Safaricom PLc.

2. Collection account opened under this service shall be solely for the purpose of aggregating incoming retail payments for subsequent transfer to operating account.

3. Collection account shall be operated in conjunction with an operating bank account. Ordinary day-to-day transactions shall be conducted from operating account and not from collections account.

4. Use of collection account for other purposes than the stated herein shall lead to either closure or suspension of the account.

5. The amounts accumulated in the collection account shall be transferred at the end of the calendar day to operating account of the same customer within the Bank. Transfer to third party account shall not be allowed.

6. Transactions conducted in operating account shall be independent of balances held in collection account. Customer shall ensure that operating account is adequately funded to meet obligations of payments falling under operating account. The Bank shall not be held accountable for declined transactions if operating account is not sufficiently funded regardless of balances held independently in the collection account.

7. The Customer shall indemnify the Bank on a full and unqualified basis in respect of all payments made from either collection or operating account if the Bank has exercised due care and acted in good faith in making such payment or declining a payment.

8. All transactions shall be subject to charges and taxes as applicable in the Banks General Tariff as published in the Bank’s website from time to time.

9. Any concession or special accommodation which may be granted to the Customer by the Bank shall not affect the Customer’s obligations to the Bank or the Bank’s rights against the Customer.

Credit Card Application General Terms and Conditions

Please find the terms and conditions here.

Deposit Contracts Terms and Conditions

1. The placing of a deposit with and the sale or purchase of any currency to or from the Bank by any person (the 'Customer') is deemed to be a contract (the 'Contract'). The Contract shall be governed by the Bank's General Terms and Conditions and by the following Specific Terms and Conditions. If there is any conflict between the following Specific Terms and Conditions and the Bank's General Terms and Conditions, these Specific Terms and Conditions shall apply subject to any further agreement made in writing between the Bank and the Customer.

2. The Customer hereby acknowledges and agrees that:
(i) Any interest payable on the Contract shall only be paid on the date of expiry of the Contract and no interest shall be payable if the Contract is terminated prior to the date of its maturity.
(ii) Where the Contract is not renewed by the Customer at the date of expiry the Bank may at its discretion renew the Contract at the Bank's prevailing deposit rate for a similar period of time as the previous Contract, subject to such maximum renewal period as the Bank may in its sole discretion decide.
(iii) Where the Contract is operated on an 'Either/or Survivor' Mandate, any instructions relating to the Contract, including the termination thereof, may be done by either Customer to the Contract operation. The Bank will deem that the instructions given by one Customer regarding the Contract has been authorised by the other Customer(s)
(iv) Where the Contract is operated on Joint Mandate, each party is only authorised to give instructions relating to the Contract together with the other party (or as specified in the Mandate). The Bank shall not be held liable for refusing to act or for any delay in accepting the Customer's instructions where only one party gives instructions;
(v) If any party gives instructions that conflict or appear to conflict with instructions given by another party, the Bank may refuse to act on such instructions until the conflict is removed to the Bank's satisfaction.
3. This Contract is governed by and is subject to the Bank's Tariff then prevailing and the Customer shall pay to the Bank the amounts stipulated in the Tariff, which shall be calculated on the face value of the amount of the Contract.
4. All payments to be made by the Customer in respect to the Contract shall be made without set-off or counterclaim and free and clear of any withholding or deductions (save as required by law) for any present or future taxes, levies, imposts, duties or other charges. If the Customer is obliged by law to make any such withholding or deduction, the Customer will pay the Bank in the same manner and at the same time such additional amounts to ensure that the Bank receives a net amount equal to the full amount which the Bank would have received if no such deduction or withholding had been required to be made.
5. This Contract is subject to and is governed by all the laws, regulations, administrative rules an/or o.rders of the Government of the Republic of Kenya, the Central Bank of Kenya or any other fiscal, monetary or other authority, in force form time to time and the Customer agrees to submit to the jurisdiction of the Kenya courts.
6. If any change in any applicable law or regulation or in the application or interpretation thereof by any government authority charged with the administration thereof or if any official requirement or request (not having the force of law) shall impose any conditions with respect to the Contract, then and in every such case, the Customer (whether jointly or severally) shall on demand indemnify the Bank on a full and unqualified basis against any liability, loss or expense which the Bank shall certify as incurred by it as being a consequence of any default in payment by the Customer and/or by virtue of any such laws, regulations, decrees, administrative rules or orders.
7. If any payment under this Contract by the Bank would otherwise be due to be made on a day which is not a Business Day (which is a day when the Bank is open for all classes of business), ii shall be made on the next succeeding Business Day.

Digital Overdraft

Please find the Terms and Conditions here.

Double Cash Back Campaign (Mahali Uko Tuko!)

Find the Terms and Conditions Here

Fikisha Goalz Savings Account

Find the FAQs for the I&M Fikisha Goalz Savings Account HERE

Find the Terms and Conditions governing the I&M Fikisha Goalz Savings Account HERE

General Terms and Conditions

Please find the terms and conditions here

This offer is subject to availability and may be limited at the discretion of the bank
Customer can avail the discount once per weekend.
This offer is valid on purchases made on the Carrefour mobile app and website using any I&M Bank debit, credit and prepaid Mastercard cards.
A discount of 20% is limited to one transaction per customer every weekend, on a minimum order value of 5,000 KES with a maximum discount of 1,000 KES, provided the customer uses an eligible Mastercard card at checkout and uses the promo code MA20.
This offer cannot be combined with vouchers or coupon codes or MyClub points.
Purchase reversals, refunds and transactions disputed by the customer are excluded from this offer.
This promotion is not available to any customers who are considered wholesalers.
Majid Al Futtaim Hypermarkets Limited shall not be liable to you if you suffer any financial loss or damage from our refusal to allow you to take part in the promotion or our withdrawal of the promotion or any failure or inability by you to use the promotion for any reason.
These terms and any disputes or claims arising out of, or in connection with, its subject matter or formation (including non-contractual disputes or claims) are governed by and construed in accordance with the laws of Kenya.

GENERAL TERMS AND CONDITIONS
I&M Bank Limited Kenya reserves the right to update or modify these Terms and Conditions from time to time without prior notice. Subject to any other agreement made in writing between the Bank and the Customer, the relationship between the Bank and the Customer shall be governed by the following general terms and conditions (the “General Terms and Conditions”):

(a) “Account” means any type of account held by a Customer with the Bank (including without limitation) any account in relation to any advance, deposit, contract, product, dealing or service established and operated between the Bank and the Customer;

(b) “Available Balance” means the amount in the Account which can be drawn by the Customer without any restriction by the Bank (such restricted amounts including without limitation any unconfirmed credit(s), any amount(s) credited to the Account in error and/or any amount(s) which the Bank has a right of Set-Off);

(c) “Application Form” means the Bank’s form completed by the Customer in respect to the establishment and operation of an Account;

(d) “Authorised Signatory” means the Customer and/or in relation to the Customer any person(s) authorised as specified in writing by the Customer to the Bank to operate the Account on the Customer’s behalf;

(e) “Bank” means I&M Bank Limited;

(f) “Bank’s Branches” means (including the main registered office of the Bank) all places either in or outside the Republic of Kenya where the Bank’s business is operated and conducted;

(g) “Business Day” means any day on which the Bank is open for all classes of banking business (excluding statutory and other public holidays) as the Bank may determine from time to time;

(h) “Banking Hours” means the hours for which the Bank is generally open for all classes of business as may be determined by the Bank in respect of each of the Bank’s Branches from time to time;

(i) “Bank’s Tariffs” means (including but not limited to) the schedule of the charges and fees levied by the Bank in relation to the Account;

(j) “Cheque” means the cheque forms issued by the Bank to the Customer and forming part of the Chequebook;

(k) “Chequebook” means the serially numbered Cheques bound together and issued by the Bank to the Customer;

(l) “Chequebook Terms and Conditions” means the Specific Terms and Conditions relating to the use of the Cheques and the Chequebook by the Customer;

(m) “Customer” means a holder of the Account;

(n) “Debt” means all moneys, obligations and liabilities whatsoever whether principal, interest or otherwise in Kenya Shillings or in Foreign Currency which may be due, owing or incurred by the Customer to the Bank whether present or future, actual or contingent;

(o) “Foreign Currency” means any currency howsoever denominated other than Kenya Shillings;

(p) “Kenya Shillings” means the lawful currency of the Republic of Kenya;

(q) “Mandate” means the mode of operation of the Account as specified by the Customer in the Application Form;

(r) “Security” means (including but not limited to) any agreement, mortgage, charge, pledge, lien, guarantee, indemnity, debenture and/or other security securing in whole or in part any Debt of the Customer with the Bank;

(s) “Specific Terms & Conditions” means the particular terms and conditions relating to a specific type of Account; and

(t) “Tax” means all taxes levies duties charges imposts or withholdings (including, without limitation, compensating tax, drought levy, value added tax, stamp duties, service charges, National Social Security or Hospital Insurance Fund payments) together with all penalties charges and interest relating to any of them.

The Bank may, at its sole and absolute discretion, upon due application by the Customer and subject to the General Terms and Conditions as well as any Specific Terms and Conditions in respect of an Account, open an Account for a Customer. The Bank shall not open an Account for any Customer whose name appears in any blacklist(s) (whether local or international) issued, circulated or otherwise available to the Bank from time to time.

The address specified by the Customer in the Application Form shall be deemed by the Bank to be the registered address of the Customer and all postal communication to the Customer shall be sent by the Bank to the said address. The Customer must notify the Bank in writing of any changes to this address.

The Account shall be operated by the Customer under the name(s) specified in the Application Form and all documents provided there under. The Bank shall have the right, at its sole and absolute discretion, to request the Customer for all necessary proof of the Customer’s name and any change thereof and the Bank shall be at liberty to decline to act on any or all of the Customer’s instructions until such request is met to the sole and absolute satisfaction of the Bank.

The Bank reserves the right, at its sole and absolute discretion, at any time during the tenure of the Account to request the Customer for any information and/or documentation that the Bank may require for the establishment and/or operation of the Account. Should the customer not provide the information and/or documentation so requested, the Bank may, in its sole and absolute discretion, proceed to vary and/or close the account under clause 21.

(a) the Bank shall only be bound to act upon the Customer’s original duly executed instructions and/or documents drawn or accepted in accordance with the Mandate until such time as the Customer shall give the Bank due written notice to the contrary;

(b) instructions received after Banking Hours or on a non-Business Day shall be processed on the next Business Day. The Customer may cancel instructions provided that the Bank is not otherwise irrevocably bound to act upon such instructions and provided further that the Bank has confirmed in writing that such instructions have not yet been acted upon. The Bank shall be entitled to levy a charge as per the Bank’s Tariffs for cancelling instructions;

(c) the Bank may, subject to such requirements as it shall in its sole and absolute discretion deem necessary and upon prior written request from the Customer, act upon oral, facsimile, electronic or any other forms of unwritten communication. The Bank shall however not be liable and the Customer shall indemnify and hold the Bank harmless if the Bank acts on instructions which have been corrupted or improperly transmitted or if the information contained in the said communication is not received or is delayed; and

(d) the Bank may refuse to act on the Customer’s instructions, if the instructions are not clear and/or if the Bank has reason to believe that the Customer did not give the instruction and/or if the Bank believes that a law, regulation, code or other duty which applies to the Bank may be broken by acting on the instructions

(e) where the mandate of the account involves two or more signatories and there are conflicting instructions with the operation of the account, the Bank shall have the right to refuse to act on such instructions until the instructions are clear and concise.

The Customer shall give to the Bank, in a form acceptable to the Bank at the Bank’s sole and absolute discretion, a specimen of the signature of each Authorised Signatory. The Bank may require a fresh specimen signature in the event of a change in the Customer’s name.

(a) the Customer may deposit for credit to the Account cash, cheques and/or other instruments drawn in a manner and of a form acceptable to the Bank. The Bank shall not accept any liability for cash sent through the post. All cheques and/or other instruments sent through the post must be crossed and marked ‘Account Payee Only/Not Negotiable’ and must be made payable to the name of the Customer’s Account;

(b) any negotiable or non-negotiable instrument of whatsoever nature, shall be accepted by the Bank for deposit or collection at the sole risk of the Customer. The Bank reserves the right without prior notice to reverse any entries in the Account and debit any amounts credited in the Account in respect of any promissory notes, bills of exchange, cheques or other instruments credited to the Account which are subsequently returned unpaid for any reason whether or not the Bank has advised the Customer of such entries and credits. The reversal of such entries and debit of such amounts does not affect the right of the Bank to retain such unpaid notes, bills, cheques or instruments and to exercise in its favour all rights relating to such instruments;

(c) the Bank assumes no responsibility and shall not be liable for the value given to funds by a beneficiary or corresponding bank provided that the Bank has acted according to the Customer’s instructions;

(d) the Bank acts only as the Customer’s collecting agent and assumes no responsibility for the realisation of any items deposited with the Bank for collection; and

(e) the negotiation and collection of negotiable instruments denominated in a Foreign Currency, shall be subject to the International Chamber of Commerce Uniform Rules of Collection as presently enacted or subsequently varied and/or amended.

(a) the Bank shall only pay cash to the Customer upon the presentation of a cheque, where the cheque is duly signed by an Authorised Signatory;

(b) where a cheque presented by a any party other than the Customer for the payment of cash, the Bank may require confirmation from an Authorised Signatory before it makes payment to such party; and

(c) where the Authorised Signatory requests the Bank to make a payment under sub paragraph (b) above the Customer shall indemnify the Bank on a full and unqualified basis in respect of all payments made to the bearer of the cheque whether or not the money is received by the Customer and whether or not the order for payment is in fact the order of the Customer.

(a) subject to daily withdrawal limits (if any), a sufficient Available Balance and the Specific Terms and Conditions of the Account, the Customer may make withdrawals and/or payments from the Account; and

(b) the Customer shall not be permitted to draw against, and the Bank shall not be obliged to make payment against a cheque or other payment which has not been cleared.

Where the Bank receives several instructions from the Customer for withdrawals and/or payments from the Account at approximately the same time such that the aggregate amount sought to be withdrawn and/or paid exceeds the Available Balance, the Bank may in its sole and absolute discretion comply with such of the said instructions in such order and/or manner as it deems fit.

The Bank shall be entitled to be paid by the Customer and shall be at liberty to debit the Account with:

(a) all expenses incurred by the Bank in clearing or attempting to clear any cheque or other payment to be credited to the Customer’s Account;

(b) interest (including default and/or additional interest if any) on any overdrawn account, loan account or on any other credit facility extended by the Bank to the Customer, at such per annum rate and computed and compounded in such manner as shall be determined by the Bank in its sole discretion(subject to the limits permitted by law). The Customer shall however be given a 30 day notice prior to any variation of the applicable interest rate.

(c) legal and/or professional charges charged, where applicable, on an advocate/client basis and incurred by the Bank in obtaining any legal and/or professional advice in connection with the Account, the preparation of any documents relating to the Customer’s credit facilities and/or any dealings by the Customer with the Bank;

(d) processing fees, commitment fees, commission charges etc. at such rates, at such times and in such manner as the Bank may from to time decide; and

(e) all other expenses and charges levied by the Bank as more particularly set out in the Bank’s Tariffs (a copy of which is available upon request).

(f) The General Terms and Conditions should be read in conjunction with specific Product Key Fact Document which is provided for the product or service customer is subscribing to.

(a) the Bank shall provide the Customer with a statement of the Account on a regular basis covering all the transactions made in the Account. The Bank may also (upon the Customer’s written request and payment of the requisite fee) provide the Customer with an additional statement(s) and/or provide the statement to the Customer at such intervals as the Customer and the Bank may agree;

(b) the contents of any statement issued by the Bank to the Customer, to which the Customer has not objected to within twenty-eight (28) days of receipt thereof, shall be deemed to be accepted by the Customer and shall, in the absence of any manifest error, be conclusive evidence of all the transactions made in the Account and shall not be subject to challenge by the Customer on any ground, whatsoever; and

(c) for all purposes, including any legal proceedings, a certificate signed by any director, manager and/or any authorised signatory of the Bank as to any matter relating to the Account and/or any Debt shall, in the absence of any manifest error, be conclusive evidence against the Customer in respect of the said matter and/or Debt.

The Bank may permit the Customer to effect automatic debits or withdrawals (such as Direct Debits or Standing Orders) from the Account unless the Specific Terms and Conditions of the Account state otherwise. All such transactions shall be effected at the Bank’s discretion and the Bank reserves the right not to effect any instructions relating to a Direct Debit or Standing Order where there is an insufficient Available Balance

(a) the Bank reserves the right without prior notice to the Customer, to debit any amount(s) credited to the Account in error and/or reverse any entry made to the Account in error. The Bank accepts no responsibility for the consequences of such debits and/or reversals. Any amount(s) credited by the Bank to the Account in error and utilised by the Customer must be repaid to the Bank together with all applicable interest accrued thereon within twenty-four (24) hours of demand being made by the Bank to the Customer; and

(b) payment orders, exchange operations and sales and purchases of securities in Kenya or elsewhere, undertaken by the Bank for the account of the Customer shall be at the Customer’s own expense. Neither the Bank nor any of its correspondents nor any of its employees shall be liable for any mutilation, corruption (including without limitation, cables, airlines, courier services, electronic mail, telex or facsimile systems) howsoever occurring.

(a) Interest shall only be payable on the credit balance in an interest earning Account. Interest shall be calculated at such rate as the Bank may determine and vary from time to time subject to the Banking (Amendment) Act 2016 as may be amended from time to time;

(b) interest shall be paid and credited to the Account in such manner as specified in the Specific Terms and Conditions of the Account; and

(c) interest shall be calculated on gross and any Tax that the Bank is required to pay shall be debited from the Account.

Upon due application by the Customer, the Bank may, at its sole and absolute discretion, extend credit facilities to the Customer in such manner and upon such terms and conditions as the Bank may determine. The Bank shall be entitled to debit the Account with all interest, commission, costs, expenses and other charges (including banking and legal charges) incurred in connection with the extension of such credit facilities.

(a) the Customer must not draw the Account below the prescribed minimum balance of the Account (or exceed the limit of any overdraft facility extended and approved by the Bank in respect of the Account) without the Bank’s prior written consent. The Bank shall be at liberty at its sole and absolute discretion to refuse to honour a cheque, make a payment and/or allow a withdrawal if the effect of the same would be to either cause the Account to be drawn below its prescribed minimum balance or the said overdraft limit to be exceeded; and

(b) if the Account is drawn below its prescribed minimum balance or the approved overdraft limit is exceeded without the Bank’s prior written consent the Customer shall (including without limitation) pay such fees as the Bank may prescribe as well as pay additional interest on the particular amount drawn below the prescribed minimum balance or the particular amount in excess of the approved overdraft limit (in this paragraph together called the “outstanding amounts”) at such rate or rates and computed and compounded in such manner as may be determined by the Bank in its sole and absolute discretion until the outstanding amounts are paid in full. The Bank shall also be at liberty to demand from the Customer the immediate repayment, in full, of the entire outstanding amounts together with all interest accrued thereon as well as all other costs, charges and expenses arising there from.

(a) in the event of a Debt, the Bank shall have a general lien over all the property of the Customer in the Bank’s possession, including, but not limited to, cash, goods, securities or valuables held by the Bank, cheques presented for payment, bills and any other property (movable or immovable) charged in whatever manner by the Customer in favour of the Bank to secure the repayment of the Debt; and

(b) the Bank may, at any time, give the Customer notice in writing that if the Debt is not repaid to the Bank within a stipulated period of time, the Bank, may without any further notice to the Customer, enforce any of its rights and remedies under any Security so as to redeem the Debt.

All operations between the Bank and the Customer of whatsoever nature shall be considered and treated by the Bank for all purposes as a single integral and indivisible account and the Bank may:

(a) without notice utilise any credit balance in the Account (whether current, loan, savings, time deposit or any other type of account or in the account of any other person for whom the Customer has agreed to act as surety) to pay any Debt due to the Bank from the Customer or any other person whom the Customer has agreed to act as guarantor and/or surety. This right of Set-Off shall be in addition to, and shall not impair or affect, any of the Bank’s other rights of recovery;

(b) convert, at the Bank’s prevailing rates of exchange, any money held by the Bank in a Foreign Currency which is subject to the Bank’s lien and thereafter exercise the Bank’s right of Set-Off. The Bank accepts no liability for any loss caused by such currency conversion; and

(c) liquidate a time deposit (including those denominated in Foreign Currency and/or for a given period of time) and exercise the Bank’s right of Set-Off against the Debt notwithstanding that the time period of the deposit has not expired or interest accrued.

(a) the Customer may, in accordance with the Mandate and upon prior issuance to the Bank of a thirty (30) day written Notice or such Notice as the Bank may deem fit, close the Account subject to the settlement of any Debt

(b) the Bank may at any time, upon giving a 30 days’ notice to the Customer, terminate or vary its business relationship with the Customer and/or close the Account and may require the repayment by the Customer of any Debt resulting from such determination, variation and/or closure; and

(c) if the Bank terminates or varies its relationship with the Customer and/or closes the Account, it shall be the Customer’s sole responsibility to notify any other party regarding such termination, variation and/or closure.

The Bank in its sole discretion may at any time, refuse to accept any instructions in regard to the Account, if and for so long as:

(a) there is any dispute between the Customer and the Bank; or

(b) where conflicting instructions as a result of an apparent dispute between two or more signatories to an account that the Bank has been made aware of;

(d) the Account is being or is likely to be operated by the Customer for any illegal and/or unlawful transaction; or

(e) the Bank has any doubt for any reason that either the Customer is not the person entitled to operate the Account or that there is any dispute in respect of the Mandate; or

(f) the Account is being operated by the Customer for purposes other than then one declared in the account opening documents.

(g) Customer shall ensure fair use of products and services they subscribe to. The Bank reserves the right to discontinue the services if the fair use is violated.

(h) the Bank is under a legal obligation to do so.

(a) the Chequebook shall be issued by the Bank to the Customer at the Bank’s sole discretion, subject to the Chequebook Terms and Conditions which are set out in this paragraph and on the inside cover of the Chequebook;

(b) the Bank may charge a fee for the issuance of a Chequebook and any other additional Chequebooks issued to the Customer;

(c) the Bank may refuse to make payment to the Customer or any other third party on any cheque which is not drawn in the manner specified by the Chequebook Terms and Conditions set out below:

(i) the Customer must write, date and sign the Cheque in clear handwriting using legible ink (preferably blue or black) in the currency of the Account for an amount not exceeding the Available Balance;

(ii) when drawing a Cheque: (a) the amount should be stated in both words and figures in such a manner as to prevent the insertion of any other word or figure and/or to prevent any fraudulent alterations; (b) the Cheque must be signed by an Authorised Signatory as per the terms of the Mandate; (c) any alteration to the Cheque must be counter-signed by an Authorised Signatory as per the terms of the Mandate; (d) any un-crossing of the Cheque must be done by an Authorised Signatory as per the terms of the Mandate; (e) no incomplete Cheque is given to any person; and (f) all uncompleted Cheques are kept in safe custody at all times.

(iii) the Customer must count the number of Cheques contained in the Chequebook at the time the Customer is issued with the Chequebook and periodically throughout the use of the Chequebook. If any Cheque is found to be lost or missing, the Customer must inform the Bank immediately; (a) the Bank may refuse to honour a Cheque where the date of the Cheque is more than six (6) months old or where the date is in the future (post-dated cheques); (b) where the Customer wants the Bank to stop payment on a Cheque, the Customer must immediately request the Bank in writing to do so. Upon receipt of a written notice from the Customer to stop payment of a Cheque, the Bank shall record the notice and stop the payment provided that such notice is received before the transaction sought to be stopped has occurred. The Bank reserves the right to charge an administration fee for stopping the payment of a Cheque; (c) the Bank shall not be liable to the Customer in any way and the Customer shall fully indemnify the Bank against any claims by any third party should the Bank make payment against a Cheque on the Customer’s behalf, where the Cheque is presumed to be issued by the Customer but the signature or content of the Cheque and/or written instruction has been forged if:

(i) the Customer has facilitated such forgery; or (ii) there has been a previous forgery of the Customer’s Cheque or note of instruction without the Customer having previously objected to the payment;

(a) the Bank acts only as the Customer’s collecting agent and if the Customer’s Cheque or any other third party instrument is lost or stolen while in the custody of the Bank the Bank shall not be liable for any loss of profit or opportunity suffered by the Customer or any other person and/or for any charges incurred by the Customer or any other person in stopping payment thereof even where the Bank has been negligent

(a) where a Joint Account is operated by a Mandate designated as ‘Either/or Survivor’, each Customer to the Joint Account is authorised to operate the Joint Account individually and it shall be deemed that the instructions given by one Customer to the Joint Account regarding the Joint Account are authorised by the other Customer(s) to the Joint Account;

(b) where a Joint Account is operated on a Mandate designated as ‘Jointly’, each Customer to the Joint Account is only authorised to operate the Joint Account together with all other Customers to the Joint Account (or as specified in the Mandate). The Bank shall not be held liable for refusing to act or for any delay in accepting the instructions which are not issued by all Customers to the Joint Account;

(c) if any Customer to the Joint Account gives instructions that conflict or appear to conflict with instructions given by another Customer(s) to the Joint Account, the Bank may refuse to act on any such instructions until the conflict is resolved to the Bank’s sole satisfaction; and

(d) each Customer to the Joint Account shall be jointly and severally liable to repay any Debt in respect of the Joint Account.

The Bank may at its sole discretion, accept funds in specified currencies from the Customer to be placed in an interest earning deposit Account for a fixed period of time. Such Specific Terms and Conditions as may be set by the Bank in respect of such Accounts shall apply and if there is any difference between these General Terms and Conditions and such Specific Terms and Conditions, the Specific Terms and Conditions shall apply.

Subject to any exchange regulations (where applicable):

(a) the Bank may operate the Account in a Foreign Currency;

(b) the Bank may at the request of the Customer, credit or debit the Account with a currency which is not the designated currency of the Account and may convert such amount debited or credited at the Bank’s prevailing rate of exchange; and

(c) the Foreign Currency Account shall be operated by the Customer at the Customer’s risk including but not limited to the consequences of any legal, fiscal or other measures affecting the Foreign Currency Account.

(a) the Account shall be deemed to have become Dormant where the Account has remained inoperative for such period of time as may be specified by the Specific Terms and Conditions of the Account or as may be determined by the Bank from time to time; and

(b) the Bank may (including without limitation) apply any one or more of the following conditions to an Account upon its classification as Dormant:

(i) confirm the validity and authenticity of the first transaction reactivating the Account; (ii) suspend the payment of interest (if applicable); (ii) suspend the issuance of Account Statements; and (iii) charge a maintenance fee as may be determined by the Bank from time to time.

(c) The account, if inactive for a period of 5 years, shall be subject to the custody of the Unclaimed Assets Authority as unclaimed assets pursuant to the provisions of the Unclaimed Financial Assets Act (No. 40 of 2011), The Bank shall however make prior reasonable efforts to locate you and notify you.

All payments required to be made by the Customer to the Bank pursuant to these General Terms and Conditions or otherwise shall be made in immediately available funds without any set-off, counterclaim or deduction of any Tax whatsoever, unless required by law in which event the Customer shall simultaneously while making the relevant payment pay to the Bank such additional amount as shall result in the receipt by the Bank of the full amount which would otherwise have been receivable by the Bank.

The Bank may require that any complaint made by the Customer in relation to the Account be made in writing (hardcopy or email) or by calling our 24 hour Call centre numbers below.

+254 719 088 000
+254 20 322 1000
+254 732 100 000
+0800721088 (Toll Free)

The Bank shall act upon such complaint, as soon as is reasonably possible, after receipt of the complaint by the Bank.

a) the Bank shall not be liable to the Customer for;

(i) any loss of profit or opportunity or any consequential loss or damage to the Customer’s reputation. The Bank shall not be liable in any way to the Customer or to any third party for making payment on the Customer’s behalf or acting upon any written instructions presumed to be issued by the Customer even negligently, where the signature or content of the written instruction has been forged if the Customer has facilitated such forgery and/or if there has been a previous forgery of the Customer’s cheque or note of instruction to which the Customer has not previously objected to and/or if the Bank has exercised due care and acted in good faith in making such payment;

(ii) any act or omission including any breach of its obligations under these General Terms and Conditions caused by circumstances beyond the Bank’s reasonable control including but not limited to fire, strike, insurrection or riot embargo, terrorist or any enemy action, theft or burglary, delays in transportation or the requirement or regulations of any civil or military authority; and

(iii) (where the Bank is operating the Account by means of a software package or other accounting system) for the non-performance of the software which shall have occurred directly or indirectly as a result of (including without limitation) adverse power fluctuations or damage resulting from fire, water, accidents, spillage of fluids, connections to improper power supplies, faulty or incorrect electrical wiring or connection;

(b) subject to these General Terms and Conditions, where the Bank is found to be liable to the Customer for any loss, injury or damage resulting from any wilful or negligent delay or error in carrying out the Customer’s clear and unequivocal instructions, the Bank’s liability shall be the lower of:

(i) the amount of such loss, injury or damage; or

(ii) the amount of any interest not received, or any interest that the Customer has to pay as a result of such failure, delay or error.

The Bank is not responsible for the authenticity, validity, regularity or value of documents including but not limited to bills of lading, delivery orders, consignment documents, receipts, warrants and insurance policies.

(a) any written communication from the Bank to the Customer, including but not limited to, any notice given pursuant to these General Terms and Conditions shall be deemed to have been received by the Customer:

(i) if delivered personally, at the date and time of delivery;

(ii) if sent by post, on the fourth day from the date of posting;

(iii) if sent by airmail, on the seventh day days from the date of posting;

(iv) if sent by telex, when the proper answerback is received;

(v) if sent by SWIFT, when the acknowledged SWIFT message is received;

(vi) if sent by SMS/Email/ facsimile, on completion of the transmission and in the case of posting it shall be sufficient to prove that the letter containing the communication was properly stamped and addressed notwithstanding that it be undelivered or returned undelivered; and

(vii) the Customer shall have no claim against the Bank for damages resulting from loss, delay, misunderstanding, mutilation, duplication, or any other irregularity due to the transmission of any communication whether to or from the Customer, the Bank or any third party, by delivery, post, fax, telegraph, telephone, telex or any other form of cable communication.

Any concession which may be granted to the Customer by the Bank shall not affect the Customer’s obligations to the Bank or the Bank’s rights as against the Customer.

(a) the Bank values the Customer’s privacy and has a policy to hold in confidence information and/or documentation relating to the Customer and/or the Account. However the Bank may in certain circumstances disclose such information and/or documentation to any person in connection with any actual or likely event of default by the Customer. This right to disclose includes disclosing information under these General Terms and Conditions (including the assignment or transfer of all the Bank’s rights and obligations under these General Terms and Conditions);

(b) the Customer authorises the Bank to respond, if it shall so choose, to any and all inquiries (including without limitation any bank’s references) received from any other bank, financial institution or person providing credit or financial services, concerning the Account without any reference to the Customer;

(i) to any credit reference, scoring or rating agencies;

(ii) to any persons providing information or services to the Bank, (including without limitation a holding or group companies, subsidiaries or related parties) on the understanding that the information shall be confidential and may not be further disseminated; and

(iii) where the Bank is under a legal or contractual obligation to do so (including but not limited to the Bank’s legal and/or contractual obligations to prevent money laundering and related offences) and/or where it is in the interest of the public.

(d) The customer hereby agrees to the terms of Privacy Policy as published in the Bank’s website www.imbank.com and will amended from time to time with notice to the Customer

(e) The customer hereby consents and explicitly authorizes the Bank, at its sole
discretion, to process, use, and/or transfer the customer’s data, personal data and/or sensitive data to any Government agencies as it may deem necessary and applicable, to facilitate investigations on the customer’s account.

(a) In compliance with the Data Protection Act, 2019 (‘‘DPA’’), the Bank seeks your consent to collect and use your personal data (i.e. name, postal and physical address, photo, email address, phone number, identification documents and PIN number and any other information which may be required) in order to conduct our due diligence, maintain our customer records, compliance with the applicable laws and regulations as well as any other purpose which may be communicated to you (‘‘Purpose’’).

(b) The Bank will also collect and use your personal data to provide you with information on products and services which may be relevant to you (‘‘Services’’).

(c) You have been opted in by default for all processing activities related to your account. For you to opt in or opt out of the processing activities applied to your personal data, please access our Privacy Notice on our website below: https://www.imbank.com/information/information-security/privacy-notice

(d) The Bank respects your privacy and assures that your personal data will be kept secure according to the DPA.

(e) Your consent under (c) above will remain in place until your withdrawal via the mechanism provided in the Privacy Notice or by officially notifying the Bank in writing at ([email protected]).

The Bank shall have a full and unfettered right to assign and/or transfer all or any of its rights, benefits and obligations under these General Terms and Conditions and/or under any Specific Terms and Conditions, to any person at any time without notice to the Customer.

(a) the expression the “Customer” and/or “person” and or “party” shall include any natural person, firm, partnership, incorporate or corporate body, state, state agency, governmental authority in whatever name of style and when there are two or more included in the expression the “Customer” and/or “person” and/or “party” such expression shall include either one severally and/or both or all of them jointly;

(b) references to words denoting the singular number shall include the plural and vice versa and reference to the masculine gender includes a reference to the feminine gender and neuter and vice versa;

(c) any obligation imposed by or resulting from these General Terms and Conditions which is undertaken by more than one person shall be a joint and several obligation of each of the persons who has undertaken it whether as principal, guarantor, indemnifier, surety or otherwise; and

(d) each of the provisions of these General Terms and Conditions is severable and distinct from the others. If at any time any of the General Terms or Conditions hereof is or becomes illegal, invalid or unenforceable in any respect neither the legality, validity nor enforceability of the remaining General Terms and Conditions shall in any way be affected or impaired thereby.

(a) the Bank may vary these General Terms and Conditions, any Specific Terms and Conditions and/or the Bank’s Tariffs (either in whole or in part) at any time. Notification of any such variation may be given to the Customer either in writing or by publication thereof by such means as the Bank may decide but any variation whether notified or not shall be binding on the Customer; and

(b) the Bank may introduce a new type of Account for which Specific Terms and Conditions shall apply. Where there is any conflict between these General Terms and Conditions and any Specific Terms and Conditions, the Specific Terms and Conditions shall apply.

The Customer hereby agrees to indemnify and keep the Bank harmless against all claims, demands, losses, costs, damages, liabilities and expenses whatsoever (including any Taxes, legal and/or statutory fees (billed, where applicable, on an advocate/client basis)) incurred, sustained or suffered by the Bank (or by any other person on the Bank’s behalf) in connection with:

(a) the negotiation, preparation, execution, delivery, stamping or registration (whether in whole or in part) of any Security;

(b) any preservation or exercise (or attempted preservation or exercise) of any of the Bank’s rights under or in connection with the enforcement (or attempted enforcement) of these General Terms and Conditions, any Specific Terms and Conditions and/or any Security;

(d) any discharge or release of any Security; and

(e) any dealing with or obtaining of professional and/or other advice about any matter or question arising out of or in connection with these General Terms and Conditions, any Specific Terms and Conditions and/or any Security.

In no event shall the Bank be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Bank shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances.

These General Terms and Conditions and any Specific Terms and Conditions shall be governed by the laws of the Republic of Kenya and the Customer hereby submits to the non-exclusive jurisdiction of the Courts of Kenya.

General Terms and Conditions for Unsecured Personal Loans

Subject to any other Agreement made in writing between the Bank and the Borrower, the relationship between the Bank and the Borrower shall be governed by the following Terms and Conditions for the Workplace Personal Unsecured Lending (the “Terms and Conditions”). These Terms and Conditions shall be subject to the I&M General Terms & Conditions and in the event of any inconsistency between the provisions of these Terms and Conditions and any provision of the I&M Bank General Terms & Conditions, the I&M Bank General Terms & Conditions shall govern, control, and prevail.

The Bank may without notice utilise any credit balance in any Account you hold with the Bank (whether current, loan, savings, time deposit or any other type of account or in the account of any other person for whom you have agreed to act as surety) to pay any Debt due under this Agreement. This right of Set-Off shall be in addition to, and shall not impair or affect, any of the Bank’s other rights of recovery.

The whole amount of the Facility shall be used only for the purpose set out in the loan application. The Bank shall have the right to demand immediate payment of any amount of the Facility outstanding, together with interest, if it shall come to the notice of the Bank that the whole or any part of the Facility has been or is being expended for any other purpose.

(a) Salary to continue being remitted through I&M Bank Ltd.

(b) Repayments to be effected by way of check -off and the Authorization forms to be forwarded to the employer for deductions to be effected
immediately after disbursement.

(c) Terminal dues, if any, to be remitted through the loan account in the event the borrower leaves current employment during the tenor of the loan.

(d) Loan to be repaid within agreed period and, if there is change of employer, I&M Bank Ltd to be notified immediately.

(e) Borrower to provide the latest three original pay slips to be lodged with I&M Bank Ltd.

(f) Balance outstanding to be liquidated from the proceeds of this loan.

(g) The balance outstanding of the buy off loan will be released first to enable the said Bank/Institution to issue a stop order in respect of the borrower’s loan instalment. The balance of the loan will only be released to the borrower upon receipt of either a stop order or a statement confirming nil balance.

(h) The Bank shall not be obliged to make any disbursement of the Facility(ies) until it has received as a condition precedent, in each case, in a form and substance satisfactory to it all of the documents, items and evidence required herein (including but not limited to the documents, items and evidence specified in the Borrower’s application form) such documents, items and evidence herein after collectively referred to as the “Supporting Documents”) (or the Bank having waived any one or more of the Supporting Documents in its absolute discretion and subject to any condition(s) it may think fit).

(i) No indulgence by the Bank of its rights under this Agreement, the Schedule, any of the Supporting Documents will operate as a waiver of its rights and/or remedies.

(j) The Bank’s obligation to make any disbursement of the Facility(ies) is also conditional upon the Borrower’s compliance at the relevant time with the terms and conditions of, and there being no breach of or default under the Agreement.

(k) “Upon sanction of Loan amount following successful application, Loan facility will be disbursed immediately to the specified transaction account as per application form and interest will start accruing from that date.

(l) The signature and the delivery of this Letter of Offer by the Borrower is deemed conclusive evidence of the Borrower’s Agreement to be bound by the terms of the facility as to the amounts of the facility and interest as approved and determined by the Bank.

All amounts drawn and outstanding under the Facilities and all interest and other sums payable in respect of the Facilities shall be due and payable at any time forthwith on demand. However, without prejudice to the Bank’s right to make demand at any time, it is agreed that:-

The maximum amount that will be available for draw down under the proposed Facility shall not exceed the aggregate of Kshs……….. /= (Kshs …………………………. Only)
The Facility will be repaid by your income in equal monthly Instalments comprising of both principal and interest until the Facility is repaid in full. The repayments due from the borrower will be effected through Direct debit/Standing Order effected through the Borrower’s account. The Borrower hereby irrevocably authorises the Bank to effect the Direct debit/Standing Order. (The repayments are as set out in the annexed loan amortisation table)

The following charges shall apply and may from time to time be subject to change upon notice within the full extent permitted or demanded by law

Charge Description	Charges

Interest rate on loan amount	Interest under clause 4 shall apply to the Facility(ies) provided that no Event of Default has occurred on the said Facility(ies) and
	subject to Paragraph 2 of Schedule 2 (Interest on Excess and Arrears). The provisions with respect to Interest on Excess and Arrears
	set out in Paragraph 2 of Schedule 2 (Interest on Excess and Arrears) shall apply in the Event of Default as defined in this letter.
	Interest on the facility shall be paid at such rate or rates not exceeding any maximum permitted by law
	or such other rate as the Bank may determine in its absolute and sole discretion from time to time
	(with the revision of S.33B of the Banking Act vide the Finance Act (2019), the Bank is in
	the process of formulating a Base Rate applicable to our lending products upon which the terms herein shall be revised accordingly
	subject to issuance of the relevant notices)

(a) Without prejudice to the provisions of Events of Default (as defined in this Agreement) and the rights of the Bank hereunder, if at any time during the continuance of the Facility(ies), the amount drawn by the Borrower from the Bank is in excess of the Facility(ies) committed by the Bank under the Agreement and/or if any sum payable by the Borrower under the Agreement is not paid on the date on which it is due in accordance with the provisions of the Agreement and whether demand has been made or not on the Borrower and whether notice has been given or not to the Borrower to repay the same, the Borrower shall pay to the Bank interest on such excess/arrears for the period during which the account is in excess/arrears at the rate of ten per cent (10%) per annum over the then subsisting rate of interest payable by the Borrower on the Facility(ies) . The Bank may by notice change this rate of interest so payable, and any such change will not prejudice in any way the Banks right to require payment of such interest when due.
The Borrower acknowledges and agrees that any amounts in excess and arrears do not form part of Credit Facility(ies) (as defined under the Banking Act) and that the aforesaid rate of interest represents a reasonable pre-estimate of the loss to be suffered by the Bank in funding the default on the Borrower’s part.

(b) If any sum payable by the Borrower hereunder is not paid on the date on which it is due in accordance with the provisions of the Agreement, and demand having been made, the Bank demands repayment of the same, or if any sum due and payable by the Borrower under any judgment of any Court in this connection, is not paid on the date of such judgment, the Borrower shall pay additional interest on such sum for the period beginning on such due date or, as the case may be, the date of such judgment until payment is received by the Bank in full at the rate of ten per cent (10%) per annum over the then subsisting rate of interest payable by the Borrower on the Facility(ies). The Bank may by notice change this rate of interest so payable, and any such change will not prejudice in any way the Banks right to require payment of such interest when due.

(a) The Borrower shall pay to the Bank and shall fully indemnify and reimburse upon demand all costs, charges and expenses (including legal and other professional expenses, stamp, registration or other duties and any VAT) incurred by the Bank in connection with the preparation and execution of, the obtaining of any documents required under, and the enforcement of, or preservation of any rights under this Agreement or otherwise in connection with the Facility(ies). Failure to pay these amounts on their due dates or on demand date as applicable, the Bank reserves the right to debit the same together with any interest accrued on the amounts from the Borrower’s account.

(b) The Borrower shall be required to deposit on or before the approval date an appropriate amount in the account for the purpose of meeting preliminary cost and expenses. In the event that there are insufficient funds in the Borrower’s account, the Bank reserves the right to deduct these costs and expenses from the loan amount and credit the Borrower’s account with the net loan proceeds.

(a) All payments by the Borrower hereunder shall be made, without set off or counterclaim, by the Borrower, to such account as the Bank may from time to time notify to the Borrower.

(b) Without prejudice to the Bank’s rights to require payment or otherwise recover amounts due hereunder from the Borrower, the Bank may debit any amount due hereunder to any current or other account of the Borrower maintained with the Bank, notwithstanding that the maximum amount permitted to be outstanding in respect of such account may be exceeded. Thereafter the amount so debited shall be treated as owing on the terms of such current or other account for all purposes.

(c) All payments due to be made by the Borrower hereunder, whether of principal, interest or otherwise, shall be made without regard to any equities between the Borrower and the Bank and free and clear of, and without deduction or withholding for, or on account of, any taxes, except to the extent the Borrower is required by law to deduct or withhold any taxes on any amounts payable hereunder, in which case the Borrower shall promptly pay to the Bank such additional amount as is necessary to ensure that the net amount received by the Bank after the required deduction or withholding(including, without limitation, any required deduction or withholding on such additional amount)is equal to the amount that the Bank would have received had such deduction or withholding been made. The Borrower will furnish the Bank within one month after the relevant payment is made with an official receipt of the relevant taxation authorities evidencing payment of any taxes. In the event of failure to provide the receipts within one month as provided for herein, the Bank reserves the right to debit the amounts so deducted from the Borrower’s account.

(d)If any payment under this Agreement would otherwise be due to be made on a day which is not a business day, it shall be made on the next succeeding business day, unless such Business day falls in the following calendar month, in which event it shall be made on the immediately preceding business day.

(e) The Borrower hereby agrees that the Bank may at any time without notice or further demand. Notwithstanding any settlement of account or other matter whatsoever, combine or consolidate all or any of the Borrower’s then existing accounts wherever situate including any accounts in the name of the Bank or of the Borrower jointly with others(whether current, deposit, loan or of any other nature whatsoever whether subject to notice or not and whether Kenya shillings or in other foreign currency and set off or transfer any sum standing to the credit of any one or more such accounts in or towards satisfaction of any obligations or liabilities of the Borrower to the Bank whether such liabilities be present, future, actual, contingent, primary, collateral, several or joint. For this purpose, the Borrower hereby irrevocably authorizes the Bank to purchase with the moneys standing to credit of such accounts such currencies as may be necessary to effect such set off or transfer at the exchange rate. The above clause provides the bank the right to consolidate and the right to set off accounts, wherever situate, belonging to the debtor in repayment of the banks debts.

(f) All interest and other payments of a periodic nature under this Agreement shall accrue from day to day and be calculated on the basis of actual days elapsed and 365day year (or such other day count as the Bank decides has become market practice)

(a) Pursuant to an amendment to the Insurance Act Cap 487, the Borrower is hereby informed of their rights under S. 71A (I) of the said Act of their right to choose an Underwriter or Broker from the list of Underwriters of Brokers licensed by the Insurance Regulatory Authority (IRA) and the option to forfeit the right to choose an Underwriter or Broker(s) licensed by the IRA .

(b) In consideration of clause (a) above, the Borrower hereby forfeits the right to choose an underwriter or Broker(s) licensed by the IRA.

(c) The Bank may require the Borrower(s) to take insurance cover to cover death and or disability through the Bank’s approved insurance plan. The Bank may enter into separate arrangements with insurers to cover the risk.

(d) The Borrower undertakes to pay the insurance premiums stipulated by the Bank from time to time); and

(e) The Borrower also understands and accepts that in the event of default on the facility(ies) or delay in payment of the insurance premiums, the insurance may not be valid and the Borrower will continue to be liable for repayment of all monies due to the Bank

(f) The Borrower also understands and accepts that not all types of disability or death may be covered by insurance. The Borrower will continue to be liable for any shortfall in the amount received from the insurers.

(g) The Borrower shall give written notice to the Bank within 48 hours of any occurrence which gives rise, or might give rise, to a claim under the policy of insurance and except with the prior written consent of the Bank, the Borrower shall not agree to settlement of any such claim.

(h) All proceeds received by the Bank in respect of any claim made under the insurance will be applied by the Bank in repayments of the facility. Any surplus after such application will be paid to the Borrower’s account

(a) The Bank may at its sole discretion, if the Borrower so requests grant from time to time part or all the Facility(ies) in other currency and/or currencies within the available limits at the Bank’s prevailing rate of exchange.

(b) By availing the Facility(ies) in any foreign currency the Borrower automatically grants to the Bank the right to convert the foreign currency denominated debt or part thereof into Kenya Shillings whenever the Bank may choose to do so in its sole and absolute discretion. No payment to the Bank (whether under any judgement or court order or otherwise) shall discharge the obligation of the liability of the Borrower in respect of which it was made unless and until the Bank shall have received payment in full in the currency in which such obligation or liability was incurred and to the extent that the amount of any such payments shall on actual conversion into such currency fall short of such obligation or liability (actual or contingent) expressed in that currency the Bank shall have a further separate cause of action against the Borrower and shall be entitled to recover the amount of the shortfall from the Borrower as a debt due in respect of the Facility(ies).

(c) All amounts due and owing by the Borrower to the Bank shall be paid to the Bank in the currency in which they are outstanding and interest on such amounts shall also be paid in the currency in which the principal amounts are outstanding in freely transferable and convertible funds.

(d) All moneys received or held by the Bank or may from time to time after demand has been made by the Bank be converted into such other currency as the Bank considers necessary or desirable to cover the obligations and liabilities actual or contingent of the Borrower in that other currency at the then prevailing spot rate of exchange of the Bank (as conclusively determined by the Bank) for purchasing that other currency with the existing currency. (where applicable)
(e) If and to the extent that the Borrower fails to pay the amount due on demand the Bank may in its absolute discretion without notice to the Borrower purchase at any time thereafter so much of any currency as the Bank considers necessary or desirable to cover the obligations and liabilities of the Borrower in such currency at the then prevailing spot rate of exchange of the Bank (as conclusively determined by the Bank) for purchasing such currency with Kenya Shillings and the Borrower hereby agrees to indemnify the Bank against the full Kenya Shilling cost incurred by the Bank for such purchase.

(f) Neither the Bank nor any Receiver shall be liable to the Borrower for any loss resulting from any fluctuation in exchange rates before or after the exercise of the foregoing powers.

(g) No payment to the Bank (whether under any judgment or court order or otherwise) shall discharge the obligation or liability of the Borrower in respect of which it was made unless and until the Bank shall have received payment in full in the currency in which such obligation or liability was incurred and to the extent that the amount of any such payment shall on actual conversion into such currency fall short of such obligation or liability actual or contingent expressed in that currency the Bank shall have a further separate cause of action against the Borrower and shall be entitled to enforce the charges by the existing security and hereby created to recover the amount of the short fall.

The Borrower represents and warrants to the Bank as follows:-

(a) Every consent, authorization or approval of governmental or public bodies or authorities required in connection with the execution, delivery, validity or enforceability of this Agreement or the performance by the Borrower of its obligations hereunder or required to make this Agreement admissible in evidence has, where applicable, been obtained and is in full force and effect.

(b) Neither the execution and delivery of the form of acceptance indorsed hereon by the Borrower nor the performance or observance of any of its obligations under this Agreement will conflict with, or result in, any breach of any law, statute, regulation, indenture, mortgage, trust deed, Agreement or other instrument, arrangement, obligation or duty by which the Borrower is bound or cause, where applicable, any limitation on any of the powers whatsoever of the Borrower howsoever imposed or on the right or ability of the Borrower to exercise such powers to be exceeded.

(c) All information submitted by the Borrower to the Bank, inter alia, on its financial position, net worth, details of Financial Indebtedness, presents accurately its state of affairs and the financial position of the Borrower as at such date.

(d) There has been no material adverse change in the financial position of the Borrower from that set forth in the application form and in the annexures thereto, submitted to the Bank requesting the Bank for the Facility(ies).

(e) They have sought independent advice on the terms of this Agreement in order to fully understand the implications and potential consequence of agreeing to these terms.

(f) As at the date of this Agreement, the Borrower does not have any Financial Indebtedness outstanding [other than the Existing Liabilities].

(g) The representations and warranties set forth in this Paragraph are given and made on and as of the date hereof, shall survive the acceptance of this Agreement and are continuing representations and warranties which are deemed to be repeated during continuance of the Facility(ies).

(a) The Borrower shall not, without the prior written consent of the Bank, incur or allow to remain outstanding any Financial Indebtedness. Financial Indebtedness for this purpose shall not include any credit received from suppliers to the Borrower in the ordinary course of business.

(b) The Borrower will provide the Bank regularly with such information and in such form as may be required from time to time relating to the Borrower’s finances and operations.

(c) The Borrower shall pay and discharge all Taxes imposed upon it or its assets within the time period allowed without incurring penalties.

(d) The Borrower shall advise the Bank immediately of any change of Directors or any material or major happening that may affect the Borrower’s operations. This could include but not be restricted to changes in the share holding pattern, industrial or labour disputes, industrial or economic downturn, diversification plans, capital expenditure commitments, change in objectives and the like.

(a) No Failure, delay or other relaxation or indulgence on the part of the Bank to exercise any power right or remedy shall operate as a waiver thereof nor shall any single or partial exercise or waiver of any power, right, and remedy preclude its further exercise or the exercise of any other power right or remedy.

(b) All monies payable by the Borrower under, the benefit of the covenants of the Borrower contained in, and all other rights of the Bank under, this Agreement shall be assignable and remain valid and effective in all respects in favour of any assignee, transferee, or other successor in title of the Bank in the same manner as if such assignee, transferee or other successor in title has been named in this Agreement as a party instead of or in addition to the Bank

(c) The Bank may disclose to any proposed assignee or transferee or to its Holding Company, Subsidiary, or any Subsidiary of its Holding Company (whether or not they are proposed assignees or transferees) such information as is in its possession at any time relating to the Facilities or the Borrower.

(d) Any change in the constitution of the Bank or its absorption in or amalgamation with any other person or the acquisition of all or part of its undertaking by any other person or any reconstruction or reorganization of the Bank shall not in any way prejudice or affect its rights under this Agreement.

(e) Any right or power which may be exercised or any determination that may be made under this Agreement by the Bank may be exercised or made in its absolute and unfettered discretion and it shall not be obliged to give any reasons thereof.

(f) A certificate by any officer or other duly authorized official of the Bank as to the money and liabilities for the time being due or accrued from or by the Borrower pursuant to any of the Facility Documents or the amount of any interest, commission or other sums owing pursuant to any of this Agreement shall save for manifest error be conclusive evidence of any legal proceedings.

(g) The facilities availed by the Bank are subject to the Bank’s General Terms and Conditions unless varied or inconsistent with the terms of this Agreement. In the event of any inconsistency between the terms of this Agreement and any general terms and conditions of the Bank (whether in force currently or at any time after the date of this Agreement), the terms of this Agreement shall prevail.

(h) All rights of the Bank contained in this Agreement are in addition to all rights vested or to be vested in the Bank pursuant to the common law or statute.

(a) The Borrower undertakes to ensure that it observes and perform all environmental laws (including without limitation the provisions of the Environmental Management and Coordination Act, 1999) the regulations, directions, and codes of practice and all covenants and stipulations from time to time and to diligently designs, constructs, operates, maintains and monitors all of its plants, sites and equipment in a safe, efficient and business-like manner.

(b) The Borrower shall not perform any of the following activities:

(i) Production or trade in any product or activity deemed illegal under host country laws or regulations or international conventions and Agreements, or subject to international bans, such as pharmaceuticals, pesticides/herbicides, ozone depleting substances, polychlorinated biphenyls, a group of highly toxic chemicals, wildlife or products regulated under Convention on International Trade in Endangered Species or Wild Fauna and Flora.
(ii) Production or trade in weapons and munitions. This does not apply to businesses which are not substantially involved in these activities i.e. the activity concerned is ancillary to the business’s primary operations.

(iii) Production or trade in alcoholic beverages (excluding beer and wine). This does not apply to businesses which are not substantially involved in these activities i.e. the activity concerned is ancillary to the business’s primary operations.

(iv) Production or trade in tobacco. This does not apply to businesses which are not substantially involved in these activities i.e. the activity concerned is ancillary to the business’s primary operations.

(v) Gambling, casinos and equivalent enterprises. This does not apply to businesses which are not substantially involved in these activities i.e. the activity concerned is ancillary to the business’s primary operations.

(vi) Any business relating to pornography or prostitution.

(vii) Production or trade in radioactive materials.

(viii) Production or trade in unbonded asbestos fibers. This does not apply to purchase and use of bonded asbestos cement sheeting where the asbestos content is less than 20%.

(vi) Any business relating to pornography or prostitution.

(vii) Production or trade in radioactive materials.

(viii) Production or trade in unbonded asbestos fibers. This does not apply to purchase and use of bonded asbestos cement sheeting where the asbestos content is less than 20%.

(ix) Drift net fishing in the marine environment using nets in excess of 2.5 kilometers in length.

(x) Production or activities involving harmful or exploitative forms of forced labor/harmful child labor.

(xi) Commercial logging operations for use in primary tropical moist forest.

(xii) Production or trade in wood or other forestry products other than from sustainably managed forests.

(xiii) Production or activities involving harmful or exploitative forms of forced labor/harmful child labor.

(xiv) Production or activities that impinge on the lands owned, or claimed under adjudication, by Indigenous peoples, without full documented consent of such peoples.

(xv) Cross-border trade in waste and waste products unless compliant to the Basel Convention and the underlying regulations.

(xvi) Any activity involving significant altercation, damage or removal of way critical cultural heritage.

xvii) Production and distribution of racist, anti-democratic and/or neo-nazi media or media with the intent to discriminate part of the population.

(xviii) Exploitation of diamond mines, and commercialization of diamonds, when the host country has not adhered to the Kimberley12, or other similar international Agreements (actual or to be formed), on similar extractive resources.

(xix) Any sector or service subject to United Nations, European Union embargo without limitation.

(xx) Coal-fired power plants when the production of energy is not in an Eligible Country as per CDC Coal-Fired Thermal Power Plants; and

(xxi) Coal-fired power plants (including captive coal-fired power plants not producing electricity for the public gird) when representing more than 10% of I&M Bank Limited Kenya portfolio volume financing.

(d) The Borrower shall notify promptly the Bank of any event(s) concerning the environment or occupational health and safety or social issues.

In the event of: -

(a) Failure by the Borrower to make any repayment of principal or payment of interest or other moneys in respect of the Facility(ies) on its due date, or

(b) A breach in the performance of any other term and condition of the Facility(ies) or The Bank’s General Terms & Conditions.

(c) A liquidator, trustee, sequestrator or similar officer being appointed of all or any of the assets of the Borrower, or

(d) A distress, execution or other legal process being levied against any of the assets of the Borrower and not being discharged or paid within 7 days, or

(e) Any indebtedness of the Borrower becoming immediately due or payable or capable of being in default on the part of any person, or the Borrower failing to discharge any indebtedness on its due date, or Any representation or warranty made by the Borrower hereunder or for the purpose of obtaining the Facility(ies) being incorrect in any material respect as of the date of which it is made or deemed to be made, or there being any material adverse change of the position as set out in such representation of warranty, then the Bank’s commitment to advance the Facility(ies) or any balance thereof shall cease and the whole amount of the outstanding Facility(ies) and all accrued interest or other amounts owing hereunder will become repayable forthwith on demand in writing made by the Bank at any time. The Borrower shall also provide cash cover on demand for all contingent liabilities of the Borrower to the Bank and for all notes or bills accepted, endorsed or discounted and all bonds, guarantees, indemnities, documentary or other credits or any instruments whatsoever from time to time entered into by the Bank for or at the request of the Borrower.

Any moneys not paid following a demand under this Paragraph shall continue to attract interest at the contracted rate as well after as before judgment or any Bankruptcy or liquidation of the Borrower.

(a) The Borrower hereby expressly consents and authorizes the Bank to disclose, respond, advise, exchange and communicate the details or information pertaining to the Borrower’s account(s) to other Banks, financial institutions, credit card companies, or credit reference bureaus, including authorized agents, representatives, lawyers or debt collection agents for the purposes of any bona fide enquiry or collection of any data or towards recovery of any sums due and outstanding to the Bank.

(b) The Bank may from time to time release (without notifying the Borrower) any information relating to any of the Borrower’s account to any statutory authority which has legal power to demand for such information including the Central Bank of Kenya and Kenya Revenue Authority.

(c) The Borrower acknowledges that any information released by the Bank under this clause may be used by the recipient to assess applications for credit by the Borrower or any related parties for bad debt tracing and for fraud prevention purposes. The Borrower also acknowledges that such information being released to the recipients may affect the Borrowers’ ability to maintain the existing Facility(ies) with lenders or credit card companies. The Borrower shall no claim whatsoever against the Bank for any loss, damage, fees or expenses suffered or incurred by the Borrower in relation to the release of any information by the Bank under this clause.

(d) The Borrower expressly consents and allows the Bank to release the information provided under this clause in accordance with the terms of this clause.

The customer, by entering into this agreement, has consented to the provision of his personal data to the Bank. All personal data contained in the agreement shall be processed in accordance with the Bank’s Data Protection Policy and Privacy Notice on the protection of individuals with regard to the processing of personal data it and on the free movement of such data. Such data shall be processed solely in connection with the implementation and follow-up of the obligations in this agreement and without prejudice to the possibility of passing the data to the bodies responsible for inspection and audit in accordance with Data Protection Act, 2019 Laws of Kenya (Act No. 24 of 2019) and/or third parties who may be engaged by the Bank in the furtherance of its obligations. . The customer may, on written request, gain access to his personal data and correct any information that is inaccurate or incomplete.

The Borrower agrees not to disclose to any third parties any information provided by the Bank in connection with this offer, except to those legally required.

Each of the provisions of this Agreement is severable and distinct from the others and, if at any time one or more of those provisions is or becomes invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired.

(a) NOT directly or indirectly use the proceeds of the Facility(ies) for any purpose which would breach the Corrupt Practices Laws.
(b) Not use any proceeds of crime to pay of the outstanding Facility(ies);
(c) Conduct its businesses in compliance with applicable Corrupt Practices Laws.
(d) Maintain policies and procedures designed to promote and achieve compliance with such laws.

This Facility(ies) Agreement shall be governed by and construed in all respects in accordance Laws of Kenya. Nothing in this Paragraph shall limit the right of the Bank to take proceedings against the Borrower in any other Court of competent jurisdiction, nor shall instituting of proceedings at one or more jurisdictions preclude the institution of proceedings in other jurisdiction, whether concurrently or not.

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I&M 30-DAY LOAN (“Short-Term Facility)

Subject to any other Agreement made in writing between the Bank and the Borrower, and subject to the Bank’s General Terms & Conditions, the relationship between the Bank and the Borrower shall be governed by the following terms and conditions (the “Short- Term Facility Terms and Conditions” or “this Agreement”):

In this Agreement, unless the context requires otherwise:

Agreement means the Borrower’s application when duly approved by the Bank and these terms and conditions as may be revised, supplemented, enhanced and restated or otherwise notified.
Applicable Law means, with respect to a given person on a given date, any constitution, statute, law, rule, regulation, ordinance, judgment, order, decree, consent of a governmental authority, or any published directive, guideline, requirement, international treaty obligation or other governmental or inter-governmental restriction that has the force of law, any determination by, or interpretation of any of the foregoing by, any judicial authority, that is binding on such person whether in effect as of the date hereof or as of any date thereafter.
Approved means the acceptance by the Bank of the Short-Term Facility(ies) applied for or such lesser sum as it may in its sole discretion agree to advance to the Borrower including any terms of such approval as to the cost and the applicable interest rate or otherwise “Approval” shall have a corresponding meaning.
Borrower means the applicant specified in the application and their personal representatives and assigns.
Bank means I&M Bank Limited.
Corrupt Practices Law means any other Applicable Law relating to bribery, kick-backs, or similar business
Disbursement means the crediting of the approved loan into the Borrower’s current account.
Events of Default means any event or circumstance specified as such in Paragraph 15 (Events of Default).
Existing Liabilities means the Existing Financial Indebtedness set out in (Existing Liabilities) clause of this
Financial Indebtedness means, with respect to any given person at any date, total liabilities as defined by the IFRS and any obligation created, issued, incurred, or assumed by such person for borrowed money or arising out of any credit facility(ies), financial accommodation or hedge Agreement, all guaranties by such entity of liabilities or indebtedness of any other person, liabilities or Indebtedness of any other entity or person secured by any assets or revenue of such entity.
IFRS means international accounting standards within the meaning of the International Accounting Standards (IAS) Regulation 1606/2002 or IFRS for SMEs to the extent applicable to the relevant financial statements.
OTG App means the I&M Bank mobile and web application;
Tax means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the

The following charges shall apply and may from time to time be subject to change upon notice within the full extent permitted or demanded by law

Charge Description	Charges
Loan Charges	Upon the Borrower’s application for the I&M 30-Day loan Facility through the OTG App, the Bank shall charge the Borrower a one-off charge exclusive of excise duty (where applicable) for each application for a Short-Term Facility. Once the Borrower opts-in, the Borrower shall receive through the OTG App a confirmation of inter alia, the Short-Term Facility limit which the Borrower has qualified for, the applicable one-off fee, the applicable excise duty, the repayment amount, the repayment date, the applicable credit life insurance and all other applicable charges. The Bank legally reserves the right to vary the one-off charge as it may determine in its absolute and sole discretion from time to time in line with applicable laws.
Application Process	The Borrower shall apply for the I&M 30-Day loan (“Short-Term Facility”) through the OTG App.
The Process	By checking in the box, the Borrower shall be deemed to have ‘opted-in’ meaning, read, understood, and accepted ALL the Terms and Conditions of the Short-Term Facility. If the Borrower, after opting in, does not wish to apply for the Short-Term Facility, they may choose to opt-out. In the event that the Borrower applies for a Short-Term Facility, the option to opt-out will only be available once the Borrower repays the Short-Term Facility in full. If the Borrower, after opting in, does not wish to be subjected to direct marketing by the Bank, they may choose to opt-out as provided in clause 13 of this Agreement.

In this Agreement, unless the context requires otherwise:

The Borrower shall pay all the monies, liabilities and obligations advanced to or incurred by the Borrower in relation to the Short-Term Facility(ies) as specified in this Agreement and as shall be confirmed to the Borrower through the OTG App
All monies due on the Short-Term Facility (“Total Outstanding Debt”) shall fall due on the 30th day from the date of disbursement (“Due Date”). If the Borrower does not settle the Outstanding Debt on or before the Due Date, a one-off roll over fee of 10.5% of the Outstanding Debt shall be applied on the 31^st day of the Short-Term Facility.
The Borrower may choose to repay the Short- Term Facility earlier that the Due Date.
The Central Bank of Kenya may from time to time and at its sole discretion and within the limit permitted by law revise the CBR and shall publish the revised The Bank may from time to time at its sole discretion and within the limits permitted by law revise the Margin and applicable charges on the Short-Term Facility with no requirement for prior notice to the Borrower.
"Margin” means the deviation percentile rate per annum added to or deducted from the Bank’s Base Rate. The Margin comprises of:
- Administrative overheads
- Financial tax (Cash Reserve Ratio & Deposit Insurance Premium)
- Credit Risk premium Profit margin
- Cost of funds in excess/ arrears of CBR
- Cost of capital in excess/ arrears of CBR
- Liquidity Risk Costs in excess/ arrears of CBR
- Any other costs permitted by law

The Borrower shall pay to the Bank and shall fully indemnify and reimburse upon demand all costs, charges and expenses (including legal, debt recovery costs, and other professional expenses, stamp, registration or other duties and any VAT) incurred by the Bank in connection with the preparation and execution of, the obtaining of any documents required under, and the enforcement of, or preservation of any rights under this Agreement or otherwise in connection with the Short-Term Facility(ies). On failure to pay these amounts on their due dates or on demand date as applicable, the Bank reserves the right to debit the same from the Borrower’s

The total Outstanding Debt due from the Borrower shall be made by the Borrower on the Due Date, without set off or counterclaim, by the Borrower,
Without prejudice to the Bank’s rights to require payment or otherwise recover amounts due hereunder from the Borrower, the Bank may debit any amount due hereunder to any current or other account of the Borrower maintained with the Bank, notwithstanding that the maximum amount permitted to be outstanding in respect of such account may be exceeded. Thereafter the amount so debited shall be treated as owing on the terms of such current or other account for all The total Outstanding Debt due from the Borrower shall be repaid in full by the Borrower on the Due Date without regard to any equities between the Borrower and the Bank and free and clear of, and without deduction or withholding for, or on account of, any taxes.
The Borrower hereby agrees that the Bank may at any time without notice or further Notwithstanding any settlement of account or other matter whatsoever, combine or consolidate all or any of the Borrower’s then existing accounts wherever situate including any accounts in the name of the Bank or of the Borrower jointly with others(whether current, deposit, loan or of any other nature whatsoever whether subject to notice or not and whether Kenya shillings or in other foreign currency and set off or transfer any sum standing to the credit of any one or more such accounts in or towards satisfaction of any obligations or liabilities of the Borrower to the Bank whether such liabilities be present, future, actual, contingent, primary, collateral, several or joint. For this purpose, the Borrower hereby irrevocably authorizes the Bank to purchase with the moneys standing to credit of such accounts such currencies as may be necessary to effect such set off or transfer at the exchange rate.

Pursuant to an amendment to the Insurance Act Cap 487, the Borrower is hereby informed of their rights under 71A (I) of the said Act of their right to choose an Underwriter or Broker from the list of Underwriters of Brokers licensed by the Insurance Regulatory Authority (IRA) and the option to forfeit the right to choose an Underwriter or Broker(s) licensed by the IRA.
In consideration of clause (a) above, the Borrower hereby forfeits the right to choose an underwriter or Broker(s) licensed by the
The Bank may require the Borrower(s) to take insurance cover to cover death and or disability through the Bank’s approved insurance plan. The Bank may enter into separate arrangements with insurers to cover the
The Borrower undertakes to pay the insurance premiums stipulated by the Bank from time to time); and
The Borrower also understands and accepts that in the event of default on the Short-Term Facility(ies) or delay in payment of the insurance premiums, the insurance may not be valid and the Borrower will continue to be liable for repayment of all monies due to the Bank
The Borrower also understands and accepts that not all types of disability or death may be covered by insurance. The Borrower will continue to be liable for any shortfall in the amount received from the
The Borrower shall give written notice to the Bank within 48 hours of any occurrence which gives rise, or might give rise, to a claim under the policy of insurance and except with the prior written consent of the Bank, the Borrower shall not agree to settlement of any such claim.
All proceeds received by the Bank in respect of any claim made under the insurance will be applied by the Bank in repayments of the Short-Term Facility. Any surplus after such application will be paid to the Borrower’s account

The Bank’s obligation to make any disbursement of the Short-Term Facility(ies) is conditional upon the Borrower opting in by accepting the terms and conditions of the Short-Term Facility..
Upon sanction of the Loan amount following successful application, the Short-Term Facility will be disbursed immediately to the Borrowers current account.
The Bank may approve the sum applied for by the Borrower or decline the application in its sole discretion without giving any reasons.
Opting in by the Borrower shall be deemed conclusive evidence of the Borrower’s Agreement to be bound by ALL the terms and conditions of the Short-Term Facility and all applicable costs, fees and charges.
The Borrower hereby irrevocably authorize the Bank to act on all applications received by the Bank from the Borrower (or purportedly from by the Borrower) through the OTG App and to hold the Borrower liable in respect thereof.
The Bank shall be deemed to have acted properly and to have fully performed all the obligations owed to the Borrower notwithstanding that the application may have been initiated or sent in error or fraudulently, and the Borrower shall be bound by any applications which the Bank shall approve in the belief that such instructions have been sent by the Borrower.
The Borrower agrees to release from and indemnify the Bank against all claims, losses, damages, costs and expenses howsoever arising in consequence of, or in any way related to the Bank having approved and disbursed the facility , or, declined to approve the Borrower’s application in accordance with the discretion conferred upon the Bank under this Agreement.
You acknowledge that to the full extent permitted by law the Bank shall not be liable for any unauthorized application, disclosure, any activity or any incident on your OTG App in connection with your application for the Short-Term Facility by the fact of the knowledge and/or use or manipulation of your PIN, password, ID or any means whether or not occasioned by the Borrower’s negligence.

By availing the Short-Term Facility(ies) in any foreign currency the Borrower automatically grants to the Bank the right to convert the foreign currency denominated debt or part thereof into Kenya Shillings whenever the Bank may choose to do so in its sole and absolute No payment to the Bank (whether under any judgement or court order or otherwise) shall discharge the obligation of the liability of the Borrower in respect of which it was made unless and until the Bank shall have received payment in full in the currency in which such obligation or liability was incurred and to the extent that the amount of any such payments shall on actual conversion into such currency fall short of such obligation or liability (actual or contingent) expressed in that currency the Bank shall have a further separate cause of action against the Borrower and shall be entitled to recover the amount of the shortfall from the Borrower as a debt due in respect of the Short-Term Facility(ies).
All amounts due and owing by the Borrower to the Bank shall be paid to the Bank in the currency in which they are outstanding and interest on such amounts shall also be paid in the currency in which the principal amounts are outstanding in freely transferable and convertible funds.
All moneys received or held by the Bank or may from time to time after demand has been made by the Bank be converted into such other currency as the Bank considers necessary or desirable to cover the obligations and liabilities actual or contingent of the Borrower in that other currency at the then prevailing spot rate of exchange of the Bank (as conclusively determined by the Bank) for purchasing that other currency with the existing currency. (where applicable)
If and to the extent that the Borrower fails to pay the amount due on demand the Bank may in its absolute discretion without notice to the Borrower purchase at any time thereafter so much of any currency as the Bank considers necessary or desirable to cover the obligations and liabilities of the Borrower in such currency at the then prevailing spot rate of exchange of the Bank (as conclusively determined by the Bank) for purchasing such currency with Kenya Shillings and the Borrower hereby agrees to indemnify the Bank against the full Kenya Shilling cost incurred by the Bank for such purchase.
Neither the Bank nor any Receiver shall be liable to the Borrower for any loss resulting from any fluctuation in exchange rates before or after the exercise of the foregoing
No payment to the Bank (whether under any judgment or court order or otherwise) shall discharge the obligation or liability of the Borrower in respect of which it was made unless and until the Bank shall have received payment in full in the currency in which such obligation or liability was incurred and to the extent that the amount of any such payment shall on actual conversion into such currency fall short of such obligation or liability actual or contingent expressed in that currency the Bank shall have a further separate cause of action against the Borrower and shall be entitled to enforce the charges by the existing security and hereby created to recover the amount of the short

The Borrower represents and warrants to the Bank as follows:-

Every consent, authorization or approval of governmental or public bodies or authorities required in connection with the execution, delivery, validity or enforceability of this Agreement or the performance by the Borrower of its obligations hereunder or required to make this Agreement admissible in evidence has, where applicable, been obtained and is in full force and effect.
Neither the execution and delivery of the form of acceptance indorsed hereon by the Borrower nor the performance or observance of any of its obligations under this Agreement will conflict with, or result in, any breach of any law, statute, regulation, indenture, mortgage, trust deed, Agreement or other instrument, arrangement, obligation or duty by which the Borrower is bound or cause, where applicable, any limitation on any of the powers whatsoever of the Borrower howsoever imposed or on the right or ability of the Borrower to exercise such powers to be exceeded.
All information submitted by the Borrower to the Bank, inter alia, on its financial position, net worth, details of Financial Indebtedness, presents accurately its state of affairs and the financial position of the Borrower as at such date.
There has been no material adverse changein the financial position of the Borrower from that set forth by the Borrower at the time of opt in r.
They have sought independent advice on the terms of this Agreement in order to fully understand the implications and potential consequence of agreeing to these
As at the date of this Agreement, the Borrower does not have any Financial Indebtedness outstanding [other than the Existing Liabilities].
The representations and warranties set forth in this Paragraph are given and made on and as of the date hereof, shall survive the acceptance of this Agreement and are continuing representations and warranties which are deemed to be repeated during continuance of the Short-Term Facility(ies).

No Failure, delay or other relaxation or indulgence on the part of the Bank to exercise any power right or remedy shall operate as a waiver thereof nor shall any single or partial exercise or waiver of any power, right, and remedy preclude its further exercise or the exercise of any other power right or
All monies payable by the Borrower under, the benefit of the covenants of the Borrower contained in, and all other rights of the Bank under, this Agreement shall be assignable and remain valid and effective in all respects in favour of any assignee, transferee, or other successor in title of the Bank in the same manner as if such assignee, transferee or other successor in title has been named in this Agreement as a party instead of or in addition to the Bank
The Bank may disclose to any proposed assignee or transferee or to its Holding Company, Subsidiary, or any Subsidiary of its Holding Company (whether or not they are proposed assignees or transferees) such information as is in its possession at any time relating to the Facilities or the Borrower.
Any change in the constitution of the Bank or its absorption in or amalgamation with any other person or the acquisition of all or part of its undertaking by any other person or any reconstruction or reorganization of the Bank shall not in any way prejudice or affect its rights under this Agreement.
Any right or power which may be exercised or any determination that may be made under this Agreement by the Bank may be exercised or made in its absolute and unfettered discretion and it shall not be obliged to give any reasons thereof.
A certificate by any officer or other duly authorized official of the Bank as to the money and liabilities for the time being due or accrued from or by the Borrower pursuant to any of the Short-Term Facility Documents or the amount of any interest, commission or other sums owing pursuant to any of this Agreement shall save for manifest error be conclusive evidence of any legal
The facilities availed by the Bank are subject to the Bank’s General Terms and Conditions unless varied or inconsistent with the terms of this Agreement. In the event of any inconsistency between the terms of this Agreement and any general terms and conditions of the Bank (whether in force currently or at any time after the date of this Agreement), the terms of this Agreement shall prevail.
All rights of the Bank contained in this Agreement are in addition to all rights vested or to be vested in the Bank pursuant to the common law or

The Borrower undertakes to ensure that it observes and perform all environmental laws (including without limitation the provisions of the Environmental Management and Coordination Act, 1999) the regulations, directions, and codes of practice and all covenants and stipulations from time to time and to diligently designs, constructs, operates, maintains and monitors all of its plants, sites and equipment in a safe, efficient and business-like manner.
The Borrower shall not perform any of the following activities:
- Production or trade in any product or activity deemed illegal under host country laws or regulations or international conventions and Agreements, or subject to international bans, such as pharmaceuticals, pesticides/herbicides, ozone depleting substances, polychlorinated biphenyls, a group of highly toxic chemicals, wildlife or products regulated under Convention on International Trade in Endangered Species or Wild Fauna and Flora.
- Production or trade in any product or activity deemed illegal under host country laws or regulations or international conventions and Agreements, or subject to international bans, such as pharmaceuticals, pesticides/herbicides, ozone depleting substances, polychlorinated biphenyls, a group of highly toxic chemicals, wildlife or products regulated under Convention on International Trade in Endangered Species or Wild Fauna and Flora.
- Production or trade in weapons and munitions. This does not apply to businesses which are not substantially involved in these activities i.e. the activity concerned is ancillary to the business’s primary
- Production or trade in alcoholic beverages (excluding beer and wine). This does not apply to businesses which are not substantially involved in these activities i.e. the activity concerned is ancillary to the business’s primary operations.
- Production or trade in This does not apply to businesses which are not substantially involved in these activities i.e. the activity concerned is ancillary to the business’s primary operations.
- Gambling, casinos and equivalent enterprises. This does not apply to businesses which are not substantially involved in these activities i.e. the activity concerned is ancillary to the business’s primary
- Any business relating to pornography or
- Production or trade in radioactive
- Production or trade in unbonded asbestos This does not apply to purchase and use of bonded asbestos cement sheeting where the asbestos content is less than 20%.
- Production or trade in any product or activity deemed illegal under host country laws or regulations or international conventions and Agreements, or subject to international bans, such as pharmaceuticals, pesticides/herbicides, ozone depleting substances, polychlorinated biphenyls, a group of highly toxic chemicals, wildlife or products regulated under Convention on International Trade in Endangered Species or Wild Fauna and Flora.
- Production or trade in weapons and munitions. This does not apply to businesses which are not substantially involved in these activities i.e. the activity concerned is ancillary to the business’s primary operations.
- Production or trade in alcoholic beverages (excluding beer and wine). This does not apply to businesses which are not substantially involved in these activities i.e. the activity concerned is ancillary to the business’s primary operations.
- Production or trade in tobacco. This does not apply to businesses which are not substantially involved in these activities i.e. the activity concerned is ancillary to the business’s primary operations.
- Gambling, casinos and equivalent enterprises. This does not apply to businesses which are not substantially involved in these activities i.e. the activity concerned is ancillary to the business’s primary operations.
- Any business relating to pornography or prostitution. Production or trade in radioactive materials.
- Production or trade in unbonded asbestos fibers. This does not apply to purchase and use of bonded asbestos cement sheeting where the asbestos content is less than 20%.
- Drift net fishing in the marine environment using nets in excess of 2.5 kilometers in length. Production or activities involving harmful or exploitative forms of forced labor/harmful child labor. Commercial logging operations for use in primary tropical moist forest.
- Production or trade in wood or other forestry products other than from sustainably managed forests. Production or activities involving harmful or exploitative forms of forced labor/harmful child labor.
- Production or activities that impinge on the lands owned, or claimed under adjudication, by Indigenous peoples, without full documented consent of such peoples.
- Cross-border trade in waste and waste products unless compliant to the Basel Convention and the underlying regulations. Any activity involving significant altercation, damage or removal of way critical cultural heritage.
- Production and distribution of racist, anti-democratic and/or neo-nazi media or media with the intent to discriminate part of the population.
- Exploitation of diamond mines, and commercialization of diamonds, when the host country has not adhered to the Kimberley12, or other similar international Agreements (actual or to be formed), on similar extractive resources.
- Any sector or service subject to United Nations, European Union embargo without
- Coal-fired power plants when the production of energy is not in an Eligible Country as per CDC Coal-Fired Thermal Power Plants; and
- Coal-fired power plants (including captive coal-fired power plants not producing electricity for the public gird) when representing more than 10% of I&M Bank Limited Kenya portfolio volume financing
The Borrower shall notify promptly the Bank of any event(s) concerning the environment or occupational health and safety or social

In the event of: -
- Failure by the Borrower to make any repayment of the Outstanding Debt in respect of the Short-Term Facility(ies) on its due date, or
- A breach in the performance of any other terms and conditions of the Short-Term Facility(ies) or the Bank’s General Terms &
- A liquidator, trustee, sequestrator or similar officer being appointed of all or any of the assets of the Borrower, or
- A distress, execution or other legal process being levied against any of the assets of the Borrower and not being discharged or paid within 7 days, or
- Any indebtedness of the Borrower becoming immediately due or payable or capable of being in default on the part of any person, or the Borrower failing to discharge any indebtedness on its due date, or any representation or warranty made by the Borrower hereunder or for the purpose of obtaining the Short-Term Facility(ies) being incorrect in any material respect as of the date of which it is made or deemed to be made, or there being any material adverse change of the position as set out in such representation of warranty, then the Bank’s commitment to advance the Short-Term Facility(ies) shall cease and the whole amount of the outstanding Short-Term Facility(ies) or other amounts owing hereunder will become repayable forthwith on demand in writing made by the Bank at any

By opting in, the Borrower hereby expressly consents and authorizes the Bank to disclose, respond, advise, exchange and communicate the details or information pertaining to the Borrower’s account(s) to other Banks, financial institutions, credit card companies, or credit reference bureaus, including authorized agents, representatives, lawyers or debt collection agents for the purposes of any bona fide enquiry or collection of any data or towards recovery of any sums due and outstanding to the
The Bank may from time to time release (without notifying the Borrower) any information relating to any of the Borrower’s account to any statutory authority which has legal power to demand for such information including the Central Bank of Kenya and Kenya Revenue Authority.
The Borrower acknowledges that any information released by the Bank under this clause may be used by the recipient to assess applications for credit by the Borrower, for bad debt tracing and for fraud prevention purposes. The Borrower also acknowledges that such information being released to the recipients may affect the Borrowers’ ability to maintain the existing Short-Term Facility(ies) with lenders or credit card companies. The Borrower shall make no claim whatsoever against the Bank for the release of any information as provided under this clause, or for any loss, damage, fees or expenses suffered or incurred by the Borrower in relation to the release of any information by the Bank under this

The Borrower, by entering into this agreement, and, by opting in, consents to the provision of the Borrower’s personal data to the Bank and for the processing by the Bank of the Borrower’s personal data. In furtherance of this Agreement, the Borrower’s personal data shall be processed in accordance with the Bank’s Data Protection Policy and Privacy Notice on the protection of individuals with regard to the processing of personal data and on the free movement of such data. Such data shall be processed solely in connection with:
the implementation and follow-up of the obligations in this agreement, for effecting and providing the facility to the Borrower, as well as for analysis, credit scoring and without prejudice, to the possibility of passing the data to the bodies responsible for inspection and audit in accordance with Data Protection Act, 2019 Laws of Kenya (Act 24 of 2019) and/or third parties who may be engaged by the Bank in the furtherance of its obligations and rights as provided by the terms of this agreement.
the Borrower’s personal data shall be processed for the purpose of direct marketing by the Bank.
The Borrower may, on written request, gain access to their personal data and correct any information that is inaccurate or incomplete.
In accordance with the Bank’s General Terms & Conditions and the Bank’s Privacy Notice, the Borrower may object at any time to the processing of their personal information for direct marketing purposes, including profiling for the purposes of direct marketing. The Borrower may therefore exercise this right by unsubscribing from the service as provided in the Bank’s Privacy Notice. The Borrower may also unsubscribe from direct marketing by opting-out of all future direct marketing by sending a single word instruction to the specific number that shall be provided to the Borrower by the Bank.

The Borrower agrees not to disclose to any third parties any information provided by the Bank in connection with this offer, except to those legally required.

NOT directly or indirectly use the proceeds of the Short-Term Facility(ies) for any purpose which would breach the Corrupt Practices
Not use any proceeds of crime to pay of the outstanding Short-Term Facility(ies);
Conduct its businesses in compliance with applicable Corrupt Practices Laws; and
Maintain policies and procedures designed to promote and achieve compliance with such

If any change in applicable law or regulation or in the application or interpretation thereof by any Government Authority charged with the administration therefor shall make it impracticable or unlawful for the Bank to maintain or give effect to its obligations under this Agreement, the Bank shall give notice in writing to the Borrower(s) of such event and the Bank’s obligation to make the Short-Term Facility(ies) available shall be cancelled and the Borrower(s) shall immediately upon receipt of such notice repay the Bank the Outstanding Debt unde the Short-Term Facility.

This Short-Term Facility(ies) Agreement shall be governed by and construed in all respects in accordance Laws of Kenya. Nothing in this Paragraph shall limit the right of the Bank to take proceedings against the Borrower in any other Court of competent jurisdiction, nor shall instituting of proceedings at one or more jurisdictions preclude the institution of proceedings in other jurisdiction, whether concurrently or not.

I&M Bank Card Discount Program

Please Find the Terms and Conditions HERE

I&M Bank Debit Card Terms and Conditions

Please find the I&M Bank Debit Cards Terms and Conditions HERE.

I&M Bank MasterCard Jumia & Glovo Terms and Conditions

Please find the Terms and Conditions HERE.

I&M Bank Miliki Nyumba Plan

Click HERE for the Terms and Conditions

I&M Bank Salary Advance Loan

Please find the Terms and Conditions HERE.

I&M Bank Solo Biz T&Cs

Find the Terms & Conditions Here

I&M Buy Now Pay Later

Please find the Terms and Conditions HERE.

I&M Milele Rewards T&Cs

Find the FAQs and T&Cs Here

I&M Multicurrency Prepaid Card Terms and Conditions

Find the Terms and Conditions Here

I&M Visa Pre-paid Cards Terms & Conditions

Find the FAQs and T&Cs Here

I&M Bank reserves the right to change, at any time, these Terms and Conditions, features and benefits offered on the Card including, without limitation to, changes which affect existing balances, charges or rates and methods of calculation.

I&M Bank reserves the right to offer Cardholders certain facilities, memberships and services at such fees and on such Terms and Conditions as it may deem fit. I&M Bank reserves the right to waive or reduce the fees and to withdraw such benefit at any time without prior notice and without liability to the Cardholder. Any termination of the Card account, because of a violation of this agreement, shall result automatically in the termination of such facilities and services. I&M Bank shall not be liable, in any way, to the Cardholder, in case of defect or breach in the performance of carrying out such facilities, memberships or services or the nonperformance thereof, whether by I&M Bank, or a Merchant Establishment or any other third party.

I&M Bank reserves the right to use the information provided by the Cardholder on his/her application and during surveys, information from external sources, including consumer reports, for marketing activities carried out by I&M Bank/Affiliates. I&M Bank may use this information to develop mailing lists that may be used by companies with whom I&M Bank shall work to develop marketing offers for the Cardholders.

I&M Bank reserves the right to revise the policies, features and benefits offered on the Card from time to time and may notify the Cardholder of any such revisions/changes in any manner as deemed appropriate. The Card Member will be bound by such revisions/changes unless the Card is returned to I&M Bank for cancellation before the date on which the revisions/changes are made. The details of all transactions effected through the use of the Card by the Cardholder may be shared with Credit Reference Agencies, lenders and/or other agencies for the purposes of assessing applications for credit or other facilities by the Cardholder and/or his/her family members, and for fraud prevention.

In addition to the general right to set off or other right conferred by law or under any other agreement, I&M Bank may, without notice, combine or consolidate the balance on the Card with any other account(s) which the Cardholder maintains with I&M Bank and its Group Companies, and setoff or transfer money standing to the credit of such other account(s) in or towards the satisfaction of the Cardholder’s liability to I&M Bank under his/her Card.

The Cardholder shall forthwith notify I&M Bank of any change in his/her address for communication as stated in the application form for the Card.

I&M Bank reserves the right to change the cardholder’s address in its records if such change in address comes to the notice of I&M Bank. The responsibility shall be solely of the Cardholder to ensure that I&M Bank has been informed of the correct address for communication, and I&M Bank disclaims all liability in case of an incorrect address resulting in any loss or liability for the Cardholder.

The Cardholder agrees to adhere to and comply with all such terms and conditions as I&M Bank or its Affiliates may prescribe from time to time for facilities/services availed of by the Cardholder and hereby agrees and confirms that all such transactions effected by or through facilities for conducting remote transactions including the Internet, World Wide Web, electronic data interchange, call centres, teleservice operations (whether voice, video, data or combination thereof) or by means of electronic, computer, automated machines network or through other means of telecommunication, established by or on behalf of I&M Bank or its Affiliates, for and in respect of such facilities/ services offered, shall constitute legally binding and valid transactions when done in adherence to and in compliance with the terms and conditions prescribed by I&M Bank or its Affiliates for such facilities/ services, as may be prescribed from time to time. The Cardholder hereby agrees that in case the Cardholder commits a default in payment or repayment of principal amount of the Loan/ financial/credit facility or interest/ charges due thereon I&M Bank Limited and/or the Central Bank of Kenya (CBK) will have an unqualified right to disclose or publish the details of the default and the name of the Card Member/or its directors/ partners/ supplementary cardholders, as applicable, as defaulters in such manner and through such mediums I&M Bank Limited or Central Bank Kenya in their absolute discretion may think fit.

The Cardholder hereby authorizes I&M Bank and its agents to exchange, share or part with all the information relating to the Cardholder’s details and payment history information and all information pertaining to the Card to other I&M Bank Group Companies/Banks/Financial Institutions/ Credit Bureaus/Agencies/ Statutory Bodies as may be required and undertakes not to hold I&M Bank Ltd/All other group companies of I&M Bank Group and their agents liable for use of the aforesaid information.

The Cardholder acknowledges that I&M Bank may assign, transfer or convey any or all its rights and obligations in respect of the Travel Card / Safari Card to any third person as it may deem fit in its sole discretion without obtaining concurrence of the Cardholder.

Each of the provisions of these terms and conditions is severable and distinct from the others and if at any time, one or more of such provisions is or becomes illegal or unenforceable in any respect under the laws of any jurisdiction, the legality, validity or enforceability of the remaining provisions shall not be affected in any way.

No act, delay or omission by I&M Bank shall affect its rights, powers and remedies under the terms and conditions or any further or other exercise of such rights, powers or remedies. The rights and remedies under these terms and conditions are cumulative and not exclusive of other rights and remedies provided by law.

The laws of Kenya govern these terms and conditions as also the use of the Card by the Cardholder subject however to the Cardholder being subject to applicable laws, rules, regulations of Kenya or such other country occasioned by use of the Card outside Kenya. The Parties hereby agree that any claim, legal action or proceedings arising out of these terms and conditions for the Card instituted by the Cardholder (and/or any persons claiming through or under the Cardholder) shall be brought in the courts or tribunals at Nairobi in Kenya and the Parties shall irrevocably submit themselves to the jurisdiction of such courts and tribunals. I&M Bank may, however, in its absolute discretion commence any legal action or proceedings arising out of these terms and conditions in any other court, tribunal or other appropriate forum in any jurisdiction, and the Cardholder hereby consents to that jurisdiction.

I&M Bank reserves the right to terminate/suspend/ block/decline the usage of the Card/access to the Funds, temporarily or permanently, upon the occurrence of any of the following events: (1) failure to adhere to or comply with terms and conditions herein; (2) an event of default under any agreement or commitment (contingent or otherwise) or the like entered into with I&M Bank or its group companies; (3) the Cardholder becoming subject to any bankruptcy, insolvency proceeding or proceedings of a similar nature; (4) demise of the Cardholder, (5) when it becomes necessary to determine whether any person is rightfully entitled to receive the Funds/ use the Card and/or for taking any other steps required by applicable law, rules and regulations or direction of any appropriate authority.

The Cardholder acknowledges that the information on his/ her usage of the Card facilities is exchanged amongst banks and financial entities that provide such facilities. Acceptance of an application for a Card is based on no adverse reports of the Cardholder’s credit worthiness. I&M Bank may report to other banks or financial entities any delinquencies in the Card or withdrawal of the Cardholder’s Card facility. Based on the receipt of adverse reports (relating to credit worthiness of the Cardholder or his / her family members), I&M Bank may, after 15 days prior notice in writing, cancel the Card, whereupon the entire outstanding balance in connection with the Card as well as any further charges incurred by use of the Card, though not yet billed to the Card, shall be immediately payable by the Cardholder. I&M Bank shall not be obliged to disclose to the Cardholder the name of the bank or financial entity, from where it received or to which it disclosed information.

Obtaining of Funds in a currency other than the currency in respect of which the Card was issued (or subsequently changed), the Funds will be converted to such new currency at the Currency Conversion Rates. This would include the situation of the Cardholder obtaining Funds from an ATM in a currency other than the currency in which the Card was issued (or subsequently changed)

The Currency conversion rate would be the amount that will be deducted from the Funds for conversion from currency of the Card to the new currency as per VISA policy and procedures in force at the time that such a transaction is processed.

Currently VISA policy and procedures inter alia provide that where the transaction is processed on the same day (by effecting of withdrawal of Funds or otherwise), the Currency conversion rate to be used is either:

A wholesale market rate in effect the day before processing, or
A government-mandated rate in effect the day before processing, increased in either case, by a fee established from time to time by VISA. As specified in an earlier section, I&M Bank levies additional currency conversion rate/fees and which will be deducted from the Funds. This is independent of the currency conversion rates/fees/ costs/charges or otherwise as required by VISA in terms of the above.

The Cardholder hereby agrees and acknowledges that all applicable costs, charges and fees in connection with the issue or usage of the Card can be deducted automatically from the Cardholder’s Funds. The details of the costs, charges and fees as currently in force are available in the booklet accompanying the Card. Such costs, charges and fees are subject to change by I&M Bank from time to time, and the latest applicable costs, charges and fees can be ascertained by calling I&M Call Centre.

The costs, charges and fees include withdrawal fee and currency conversion rate and could include further/additional costs/charges/fees or otherwise as required by third parties (as illustrated below): Withdrawal Fee is applicable and will be deducted from the Funds for each withdrawal made by the cardholder from an ATM. Additionally, costs/charges/

fees or otherwise as assessed and made applicable by the owners/operators of the Shared Network would also be applicable and will be deducted from the Funds for each withdrawal from an ATM comprised in a Shared Network. If the Cardholder obtains Funds in a currency other than the currency in which the Card was issued, the conversion rate will stand increased by an additional 3% (or such higher/ other rate as I&M Bank may specify from time to time), and which will be deducted from the Funds. Such rate may be altered or modified by I&M Bank, without the consent of the Cardholder and such that altered or modified shall also become applicable and will be deducted from the Funds. The details of the conversion rate are specified in the clause entitled ‘Currency Conversion Rates’.

In a situation that the Funds are not sufficient to deduct such costs, charges and fees, I&M Bank reserves the right to recover the same directly from the Cardholder and/or from any accounts (including joint accounts) maintained by the Cardholder with I&M Bank or its group companies, and further, to deny/decline or block conduct of any further Transactions through the use of the Card.

Any statutory levy including duties or taxes payable as a result of the use of the Card shall be the Cardholder’s responsibility and if imposed on/recovered/sought to be recovered from I&M Bank (either directly or indirectly), such statutory levy shall be deducted from the Funds and/ or recovered directly from the Cardholder and/or from any accounts (including joint accounts) maintained by the Cardholder with I&M Bank or its group companies

I&M Bank shall be under no liability whatsoever to the Cardholder in respect of all actions, claims, demands, proceedings, losses, damages, personal injury (including actual or perceived loss of reputation, defamation or the like), costs, charges and expenses whatsoever arising directly or indirectly out of:

(1) any use of the Card and/or PIN;

(2) the refusal by any person or Merchant Establishments in honouring or accepting the Card;

(3) any ATMs/ POS terminals that malfunctions or is otherwise out of order, and whether resulting in such terminal not accepting the Card and/or PIN or otherwise;

(4) misuse or fraudulent use of the Card by any person including the Cardholder;

(5) any statement made by any person requesting to surrender/ cancellation of the Card or any act performed by any person in conjunction thereto;

(6) handing over of the Card by the Cardholder to a person other than the designated employees of I&M Bank at I&M Bank’s premises;

(7) the exercise by I&M Bank of its right to demand and procure the surrender of the Card prior to the expiry date stated on its face, whether such demand and surrender is made and/ or procured by I&M Bank or by any other person or ATMs/POS terminals;

(8) the exercise by I&M Bank of its right to terminate any Card;

(9) the re-possession/ cancellation of the Card and/or request for its return;

(10) any mis-statement, mis-representation, error or omission in any details disclosed to/by I&M Bank;

(11) decline of processing of the Card and/or PIN due to such Card exceeding foreign exchange entitlements as prescribed by applicable law, rules or regulations in force from time to time or on I&M Bank becoming aware of the Cardholder exceeding entitlements,

(12) in the event a demand or claim for settlement of outstanding dues/funds received in excess of the Funds from the Cardholder is made either by I&M Bank or any person acting on behalf of I&M Bank;

(13) communication sent by any means of communication including by facsimile machines, Internet, ATMs POS terminals, payment systems, or any other method over public and/or private lines that may not be encrypted, and which may involve the risk of possible unauthorized alteration and / or unauthorised use of communication, or

(14) upon terminating, suspending, blocking or declining of the use of the card and/or access to the Funds, inter alia, when it becomes necessary to determine whether any person is rightfully entitled to receive the Funds/use the Card and/or for taking any other steps required by applicable law, rules and regulations or direction of any appropriate authority.

In consideration of I&M Bank providing the Cardholder with the Card and related facilities, the Cardholder hereby agrees to indemnify and keep I&M Bank indemnified from and against all actions, claims, demands, proceedings, losses, damages, personal injury, costs (including legal costs), charges and expenses whatsoever which I&M Bank may at any time incur, sustain, suffer or be put to as a consequence of or by reason of or arising out of: (1) providing the Cardholder the said facility of the Card, (2) by reason of I&M Bank’s acting in good faith and taking or refusing to take or omitting to take action on the Cardholder’s instructions, (3) the negligence, mistake or misconduct of the Cardholder (directly or indirectly), (4) breach or non-compliance of these terms and conditions, (5) fraud or dishonesty relating to any Transaction by the Cardholder or his employee or agents, (6) any ATM/POS machine error or failure or other mechanical/ system error/failure, (7) collection of all moneys due and payable (including applicable costs, charges and fees) by the Cardholder, and/or (8) misplacement by the courier or loss in- transit of the Card and/or PIN.

Additionally, as stated earlier, the Cardholder has also agreed to indemnify and agreed to hold I&M Bank indemnified against all actions, claims and costs, charges and expenses arising out of or as a consequence of the Cardholder not complying with the applicable laws, rules and regulations in force from time to time.

I&M Bank will not be responsible for the quality of service provided or for any delay in delivery of the services, nondelivery of services, or receipt of defective/sub-standard services by the service providers of such emergency medical and travel assistance and concierge assistance services or any of its/their service providers in connection with the Card and further, I&M Bank shall not be liable for any actions, claims, demands, proceedings, losses, damages, personal injury (including actual or perceived loss of reputation, defamation or the like), costs, charges and expenses incurred by the Cardholder on account of the quality of service provided or for any delay in delivery of the services, non-delivery of services, or receipt of defective/sub-standard services.

These emergency medical and travel assistance and concierge assistance services are not presently available Kenya. These emergency medical and travel assistance and concierge assistance services are not transferable and are available only to the Cardholder. The service providers reserve the right to conduct an identity verification prior to providing these services. Wherever applicable, the applicable costs, charges and fees for such emergency medical and travel assistance and concierge assistance services will be informed to the Cardholder prior to the Cardholder availing of such service/s and thereafter deducted from the Funds. In the event rendering of any emergency medical and travel assistance and concierge assistance services entailing payment that the Service provider is required to make, such provision of services/making of payment for such services is subject to Service provider first recovering payment from the Cardholder through the Cardholder’s card or from the Cardholder’s family. Service provider shall ensure that Cardholder who call in for these Services are duly informed that the Cardholder is solely liable for all third party expenses in connection with the services. I&M Bank or Service provider shall not be responsible for any costs, charges, fees and/or expenses levied/charged by any third party, which shall be solely the Cardholder’s responsibility.

I&M Bank does not make any representation and/or warranty to the Cardholder (or any person claiming by or under the Cardholder) or otherwise assure the Cardholder (or any person claiming by or under the Cardholder) as to the quality of the goods purchased/hired/proposed to be purchased/ hired or otherwise and/or of services availed of/ proposed to be availed of by use of the Card with/at any person including the Merchant Establishment/s or for any delay in delivery of the goods/services, non-delivery of goods/services, or receipt of defective/sub-standard goods/ services by use of the Card with/at any person including the Merchant Establishment/s.

Disputes or claims in connection with the quality of the goods purchased/hired/proposed to be purchased/hired or otherwise and/or of services availed of/proposed to be availed of by use of the Card with/at any person including the Merchant Establishment/s or for any delay in delivery of the goods/ services, non-delivery of goods/services, or receipt of defective/sub-standard goods/services by use of the Card with/at any person including the Merchant Establishment/s must be mutually resolved by the Cardholder (or any person claiming by or under the Cardholder) with such person/ Merchant Establishments without reference to I&M Bank.

Any charge slip or other payment requisition signed by the Cardholder and received from a Merchant Establishment for payment shall be conclusive proof that the amount recorded on such charge slip or other requisition was properly incurred by the Cardholder by the use of the Card except for such charge slips or other payment requisitions which have been signed on a date subsequent to the Cardholder’s notification to I&M Bank as to an unauthorised transactions having been effected through use of the Card and/or the PIN, or the Card and/or the PIN having been otherwise misused, lost, or stolen, and I&M Bank having successfully blocked such Card and/or PIN. Should the Cardholder choose to disagree with a charge / amount indicated in his statement, where the Cardholder has opted to receive periodical statements pertaining to the Card, the same should be communicated to I&M Bank within 30 (thirty) days of receipt of the statement, failing which it would be construed that all charges / amount and the statement are entirely in order and acceptable to the Cardholder. In any other case, if the Cardholder believes that any amount has been erroneously debited to the Funds, the Cardholder should forthwith notify the same to I&M Bank.

On receipt of such information, I&M Bank may reverse the charges on a temporary basis and in such event I&M Bank shall be entitled to block on the Card an amount equal to the amount temporarily reversed. The amount so blocked shall not be available to the Cardholder until investigation and resolution of the disparity by I&M Bank as I&M Bank may deem fit. If on completion of subsequent investigation, I&M Bank is satisfied that the charge was correctly debited to the Cardholder’s Funds, I&M Bank will reinstate the charge along with any fee or other amount in a subsequent statement.

If the Cardholder has received funds in excess of the Funds, the Cardholder agrees to promptly repay I&M Bank any such funds upon such terms and conditions as I&M Bank may specify. If I&M Bank has grounds to believe that the Cardholder has received funds in excess of the Funds requested by the Cardholder, due to any reason whatsoever (including the malfunction of an ATM, POS or other equipment, or I&M Bank system), I&M Bank will notify the same to the Cardholder and will deduct the excess funds received by the Cardholder from the Funds upon such terms and conditions as I&M Bank may specify. I&M Bank further reserves the right to recover such excess funds from any account of the Cardholder maintained with itself or any of its group companies, whether such account be a joint account or a sole account or otherwise, or and/ or the right to require the Cardholder upon notification to immediately make payment of such excess funds, upon such terms and conditions as I&M Bank may specify.

In the event a demand or claim for settlement of outstanding dues/funds received in excess of Funds from the Cardholder is made either by I&M Bank or any person acting on behalf of I&M Bank, the Cardholder agrees and acknowledges that the Cardholder will to pay to I&M Bank on demand and unconditionally the entire amount outstanding on the Card and/or the funds received in excess of the Funds.

Nothing in these terms and conditions shall affect I&M Bank’s right of lien, set-off, transfer and application of monies at law or pursuant to any other agreement from time to time subsisting between I&M Bank and Cardholder.

The Cardholder bears all losses resulting from the use of the Card which also includes the situations where purportedly unauthorised transactions have been effected through the use of the Card and/or the PIN or the situations where purportedly misuse, loss and/or theft of the Card and/ or the PIN has occurred, and such liability continues until: (i) notification to I&M Bank of such unauthorised transactions having been effected through use of the Card and/or the PIN, or the Card and/or the PIN having been otherwise misused, lost, or stolen, and (ii) I&M Bank blocking the further use of the Card and/or the PIN successfully. Such situations could include:

A. Lack of proper safeguard of the Card and/or the PIN, including on account of the Cardholder,

Having written or otherwise indicated the PIN on the Card,
Having written or otherwise indicated the PIN on any article normally carried with or stored with the Card in any recognizable form,
Having voluntarily disclosed the PIN to any person, or
Having failed to maintain the security of the PIN for any reason whatsoever, and even though the recommended precautions or other measures may have been observed/adopted by the Cardholder.
B. Delayed notification of misuse, loss, or theft of the Card and/or the PIN, including on account of the Cardholder, • Not notifying I&M Bank promptly upon coming to know or becoming aware of the misuse, loss or theft of the Card and/or the PIN, or Not notifying I&M Bank promptly upon coming to know or becoming aware that the PIN has become known to any person or upon coming to know or becoming aware that any of the measures adopted by the Cardholder (in line with the recommendations above or of any other measures adopted for safeguarding the PIN) being compromised I&M Bank shall bear no liability from such unauthorised transactions having been effected through use of the Card and/or the PIN, or the Card and/ or the PIN having been otherwise misused, lost, or stolen.

The Cardholder should inform I&M Bank at the I&M Bank Call centre immediately if the Cardholder believes that the Card or PIN has been misused, lost or stolen or the PIN has become known to any person and the Cardholder believes that such person may misuse the same. This obligation to inform shall also operate in respect any measures adopted by the Cardholder (in line with the recommendations above or of any other measures adopted for safeguarding the PIN being compromised.

On receipt of intimation from the Cardholder, I&M Bank Call centre will attempt to block the conduct of further Transactions requested through the use of the Card and attempt to prevent the further use of the lost, stolen or damaged Card(s). I&M Bank Call centre will assist the Cardholder in replacing the lost, stolen or damaged Card. The Cardholder shall pay replacement charges for the Card as directed by I&M Bank. I&M Bank may take such steps to replace or re-issue the Card originally purchased, as determined by it, subject to the Cardholder complying with such conditions, if any, that I&M Bank specifies. I&M Bank shall make best efforts to replace by issuing a new Card and effecting dispatch of the same to the Cardholder within 96 hours of receipt of the intimation of loss or damage to the Card or within such other period as may be required so to do by I&M Bank.

After blocking of Card and the PIN, the Card cannot be use by the Cardholder again, even if the Cardholder subsequently finds the same. After blocking the Card, no refund shall be allowed on the Card, however, it is provided that upon replacement of the Card, the Cardholder may request I&M Bank to transfer the balance on the Card subject to other provisions hereof.

The Cardholder should maintain the confidentiality, safety and security of PIN, and note that the failure to observe confidentiality, safety or security of the PIN can result in the Cardholder incurring liability on the Card of use of the PIN.

The Cardholder agrees that the security of the Card and PIN is very important. If the Cardholder fails to observe security of the Card and PIN, the Cardholder may have to bear any losses suffered (including loss of all or part of the Funds) as a result of unauthorised use of the Card.

I&M Bank recommends that the Cardholder observe/ adopt the following precautions in addition to such other measures as the Cardholder may deem appropriate to protect the PIN:

The Cardholder should not disclose the PIN to anyone.
The Cardholder should use due care in preventing anyone seeing the PIN when it is being entered in the 2. The Cardholder should use due care in preventing anyone seeing the PIN when it is being entered in the ATM.
The Cardholder should memorise the PIN and then destroy any record of it, and not maintain the same in writing anywhere to prevent its access by any third person/party.
The Cardholder should not write or otherwise indicate the PIN on the Card.
The Cardholder should not keep a record of the PIN in any easily recognisable form on any item normally carried with or stored with the Card that could lead to loss or theft of the same simultaneously with the Card.
The Cardholder should not carry the PIN with the Card or record it elsewhere even if the same has been disguised. The above recommendations are not intended to be exhaustive.

In case of any loss arising even though such precautions (or other measures) have been observed/adopted by the Cardholder, the liability of such loss shall be only that of the Cardholder.

The Cardholder may call I&M Bank Call center in event of any queries or complaints in connection with the Card. Alternatively, the Cardholder may email I&M Bank at the applicable email address.

Further, in case of complaints, the Cardholder should provide sufficient and correct details in writing to I&M Bank in order to enable I&M Bank to investigate and respond on the complaint or query appropriately.

The following information will require being provided in such correspondence:

Name, address and Card number of the Cardholder.
A detailed description of the transaction and/or the

complaint (including the date of the transaction and the location of the ATM / Merchant Establishment) and the basis or reason for the Cardholder to dispute the Transaction or raise a query or complaint; and 3. The Transaction amount.

In event any further information / document is required by I&M Bank for investigation or resolution of the matter, the Cardholder hereby agrees to provide the same. Where an inquiry is not settled to the satisfaction of the Cardholder, I&M Bank may advise the Cardholder in writing or otherwise of the results of its investigation and/or the manner of resolution, if any, of the complaint.

ATM Receipts: When the Cardholder completes a transaction through an ATM, the Cardholder shall ensure that the Cardholder obtains and verifies any receipts / record received, if any, through such ATM.

Balance Information: ATMs or the receipts/record, if any, may show the balance Funds when the Card is used at such ATM. The Cardholder may also get information regarding the balance available Funds, by calling up I&M Bank Call center.

History: The Cardholder may obtain a history of the transaction by accessing the Card account through I&M Bank’s internet website by using the allocated User Identification Number and I-PIN.

Utilization and/or possession of the card by the Cardholder is required to be in accordance with the applicable laws, rules, regulations and directions as issued by the Central Bank of Kenya or other appropriate authority under any law in force from time to time.

The Card may be used outside Kenya, subject to applicable laws, rules and regulations in force from time to time in Kenya and subject to such restrictions/ limitations under the applicable laws, rules and regulations from time to time in the country where the card is used.

The Cardholder shall be solely responsible to the concerned authorities in event of any violation of the applicable laws, rules and regulations in force from time to time.

I&M Bank will not be liable for any direct, indirect or consequential loss or damage, arising from or related to the non-compliance by Cardholder with the applicable laws, rules and regulations in force from time to time.

The Cardholder hereby indemnifies and agrees to hold I&M Bank indemnified against all actions, claims and costs, charges and expenses arising out of or as a consequence of the Cardholder not complying with the applicable laws, rules and regulations in force from time to time.

In case the Card is cancelled (or its use suspended), whether on account of non-compliance with the applicable laws, rules and regulations in force from time to time or otherwise, I&M Bank will not be responsible for any use/ attempted use of the Card, resulting in the Card being dishonoured or otherwise. The risk of honouring of a Card that is cancelled (and/or suspended) on its presentment is of such person and/or of the Cardholder in the individual capacity.

In case of any suspicion or indication of violation of exchange regulations or of improper usage including money laundering, I&M Bank may, at its sole and absolute discretion, cancel or suspend the Card without prior notice and refund of any outstanding balance would be subject to the course of future legal directions.

To enable the Cardholder to use the Card, PIN will be issued to the Cardholder by I&M Bank, which would be provided/enclosed with the Card. In case of re-dispatch request of PIN, unless otherwise determined by I&M Bank as to the mode of delivery of the PIN, the PIN shall be mailed to the Cardholder (at such address as has been specified in the application form for the Card) in a sealed envelope. If in case the envelope is not in a sealed condition, or the Cardholder finds it tampered with, the Cardholder should not use the PIN, and should immediately inform I&M Bank at +254 20 3221000 or such other number as I&M Bank may specify from time to time. Upon receipt of such intimation from the Cardholder, I&M Bank shall block the PIN and regenerate a new PIN and mail the same to the Cardholder.

The PIN, as received (in a sealed envelope, and which has not been tampered with) may used at any ATM. The PIN (as originally provided or which is subsequently changed), by its usage together with the Card, or independently, and the transactions or instructions issuing pursuant thereto, are deemed to be transaction conducted, or instructions given, by the Cardholder.

In addition, an I-PIN will also be allocated to the Cardholder which will be required for access to the Cardholder’s account information through the internet. Cardholders should maintain the same level of security with I_PINs as with their PIN.

No individuals can apply for or obtain multiple Cards. In the event the Cardholder has obtained the Cards at previous occasions, at any given point in time, the last of such Card as issued to the Cardholder shall be valid and active, unless cancelled or terminated by I&M Bank.

Any Card issued to Cardholders will be subject to a maximum spending limit as specified by I&M Bank from time to time, subject to Central Bank of Kenya guidelines and the applicable laws, rules and regulations in force from time to time.

Upon exhaustion of the Funds loaded on the Card, Cardholder can reload Funds onto the Card from any Agent or I&M Bank branch, subject to the compliance of all applicable laws, rules and regulations in force from time to time.

In event the Cardholder wishes to reload the Card, I&M Bank reserves the right to:

(1) limit the amount of Funds that can be reloaded onto the Card;

(2) limit the number of times the funds can be reloaded onto the Funds;

(3) Decline a reload transaction, at its sole discretion.

For the purpose of reloading the Card, Cardholder shall be required to complete the prescribed form and provide certain information pertaining to the Cardholder/the Card, as may be required by I&M Bank.

The Funds shall be reloaded in same currency in which the Card was originally issued. Amount of reload shall be in

strict accordance to the limits specified by the applicable laws, rules and regulations in force from time to time.

Any residual balance in expired cards will be forfeited if unclaimed after 2 months of expiry.

The Cardholders may be provided certain insurance cover benefits at certain cost along with the Card. The Insurance Cover shall lapse upon expiration or cancellation of the Card by the Cardholder or I&M Bank, as the case may be. All the claims arising under the insurance cover shall be directly referred to and handled by the concerned insurance company and I&M Bank shall not be responsible for and any claims arising under the insurance cover, however the bank will assist in facilitating in processing of the claims with concerned insurance company.

The Card enables the Cardholder to obtain the Funds in cash by withdrawal from ATMs and/or ascertain information as to the balance /s on the Card at ATMs/POS terminals (whether of I&M Bank or a Shared Network) or make payments at Merchant Establishments through POS terminals.

Cash withdrawn at an ATM outside Kenya with the Card, shall be in a currency as permitted by the Shared Network which owns/operates the ATM at which the withdrawals are made. The equivalent in the currency in which the Cardmember’s Account is held, subject to any additional processing charges, conversion charges or any other fees, if any charged as per VISA regulations in connection with such Transactions, shall be debited by I&M Bank to the Funds of the Cardholder.

No interest, compensation or any benefit/bonus is payable by I&M Bank or any other person to the Cardholder in connection with the Funds, nor do they entitle the Cardholder to any Overdraft/Credit facility.

Notwithstanding anything contained herein, I&M Bank may, at any time, without giving notice or reason, suspend or terminate all or any of services or their use by the Cardholder. All provisions of these terms and conditions which in order to give effect to their meaning will survive the suspension or termination of the services and/or the use of the services by the Cardholder, and shall remain in full force and effect after suspension or termination of the Card. Notwithstanding such suspension or termination, the Cardholder shall continue to be bound by these terms and conditions to the extent they relate to any obligations or liabilities of the Cardholder that remain to be performed or discharged.

The Cardholders may also avail of emergency, medical and travel assistance and concierge assistance services from time to time, as may be made available by I&M Bank at its sole discretion. Such services may be withdrawn, discontinued, cancelled, suspended and/or terminated by I&M Bank at any time in its sole discretion.

I&M Bank reserves the right to limit the amount of Funds that may be used for effecting any Transaction through the use of the Card per day or over a specified period.

ATMs or Merchant Establishments may also limit or restrict the number of Transactions that may be effected through use of the Card. These limitations will vary for every ATM and / or Merchant Establishment. I&M Bank shall not be responsible for either ascertaining, or notifying the Cardholder as to such limits/restrictions and shall not be liable for any loss suffered by the Cardholder due to these restrictions, limitations or to a lack of uniformity between transactions requested at ATMs and/or Merchant Establishments.

The Card can be used over the Internet and the Cardholder will assume all risks associated with such transactions.

The Cardholder may also access information on the Card through the website www.imbank.com including outstanding balance and statement of transaction history as well as hotlisting the card. For this purpose, the Cardholder will be assigned an I-PIN.

The Card may be used to access Funds at any ATM worldwide that displays the Visa Electron or Plus logo or Visa Flag that accepts such Cards.

To withdraw the Funds, the Cardholder will need to insert the Card into the ATM, enter the PIN, and the amount of desired Funds. The Card should be retrieved upon such usage.

The Cardholder may also use the Card to pay for charges incurred at Merchant Establishments, subject to the condition that I&M Bank and the Merchant Establishments reserve the right at any time to refuse to permit the use of the Card at the Merchant Establishment for any reason whatsoever.

The amount of each purchases made through the use of the Card or withdrawal of the Funds will be debited immediately from the Funds of the Cardholder.

In event there are insufficient Funds to honour the requested transaction, the transaction will not be honoured. The Cardholder may surrender the Card at any point in time and obtain refund of the balance of the Funds, by filling up the refund form, as prescribed by I&M Bank, along with copy of the Cardholder’s passport/identity document, the Card and such other documents as required by I&M Bank. The refund shall be made in the currency of purchase only. Use of the Card at any unauthorized location or for any purpose other than as stated under these terms and conditions is strictly prohibited and may result in cancellation of the Card by I&M Bank. I&M Bank will not be liable for any loss, direct or indirect, that may be suffered by the Cardholder as a result of any unauthorized use or cancellation of the Card.

Any individual or corporate body may apply for the issuance of the Card through any I&M Bank Branch or Agent in Kenya.

The issuance of the Card is subject to compliance by the applicant of the provisions of applicable laws, rules, regulations and directions as issued by the Central Bank of Kenya or other appropriate authority under any law in force from time to time. I&M Bank may, at its sole and absolute discretion, refuse issuance of a Card or cancel an issued Card without notice, if satisfactory know-your-customer and money laundering guidelines are not met or if it has reason or suspicion to believe that the Cardholder has violated or intends to violate any exchange regulations or uses/will use the Card for money laundering purposes.

The applicant for the Card will be required to complete and submit a duly signed application form as required by I&M Bank from time to time and further, to submit all such documents as may be necessary or required.

The validity period of the Card shall be 24 months from the date of manufacture. Subject to all the conditions being satisfied, the Card shall be activated within a period of 24 hours of receipt of monies and other requisite documents from the Cardholder.

Upon purchase of the Card, the Cardholder can request any I&M Bank branch or Agent to load a certain amount of Funds (subject to restrictions on minimum and maximum amount loadable, as determined by I&M Bank at its sole discretion from time to time).

Upon issuance of the Card, the Cardholder shall sign on the reverse of the Card.

The Card, as may be issued by I&M Bank to an applicant, is the property of I&M Bank and is not transferable and will be honoured at merchant establishments only when the Card bears the signature of the Cardholder on the reverse and upon presentment to a Merchant Partner by the Cardholder.

In these terms and conditions, the following words have the meanings set out hereunder, unless the context indicates otherwise:

“Agent” means any company/individual appointed and authorized by I&M Bank to sell, reload and refund Cards.
“ATM’’ means an automatic teller machine/terminal displaying either Visa Electron, Plus Logo or Visa Flag for effecting cash withdrawals, at which, inter alia, the Card may be used for the purpose of withdrawing Funds.
“Card” means the I&M Bank Pre-paid payment card, including the Nakumatt – I&M Bank Travel Card, Safari Card and any other pre-paid payment card issued by I&M Bank to the Cardholder.
“Cardholder” means such customer of I&M Bank to whom the Card has been issued pursuant to an application by such person, and who is authorized to hold the Card.
“Funds’’ means the amount of monies purchased and loaded onto the Card by the Cardholder from I&M Bank or Agents in respect of which the Card has been issued and any additional monies that may subsequently be purchased by the Cardholder (not including any sales commission or fees paid to such person/s, as are authorised by I&M Bank so to do, from whom the Card was purchased), less any amounts previously spent and any applicable fees charges, conversion fees, and other expenses incurred in connection with the use or possession of the Card.
“I&M Bank” means and refers to I&M Bank Limited, including but not limited to it’s successors in title and assigns and having its registered office at I&M Bank House, 2nd Ngong Avenue, P. O. Box 30238-00100, Nairobi, Kenya.
“I&M Bank ATM” means an ATM owned and managed by I&M Bank and displaying I&M Bank Logo.
“Merchant” shall mean any person who owns or manages or operates a Merchant Establishment.
“Merchant Establishments” shall mean establishments which honour Cards.
“PIN” means the Personal Identification Number as provided to the Cardholder by I&M Bank, for use with and in relation to the Card in terms hereof.
“POS Terminal” shall mean point of sale electronic terminals at Merchant Establishments whether in Kenya or overseas, capable of processing Transactions and at which, amongst other things, the Cardholder can use his Card to access his Funds to make purchases.
“Shared Network” shall mean ATMs which are not owned by I&M Bank but which accept Cards issued by I&M Bank.
“Transactions” shall mean cash withdrawals from the ATMs and / or any purchases made at the Merchant Establishments through the use of the Card.

Internet Banking Terms and Conditions

Find the FAQs and T&Cs Here

1.1 In these Terms and Conditions unless the context otherwise requires:

(a) “Bank” means I & M Bank Limited, incorporated in Kenya as a limited liability company under the Companies Act (Cap 486 of the Laws of Kenya) and includes such Branch or Subsidiaries of the Bank as may from time to time be specified by the Bank to the Customer.

(b) “Banking Day” means a day on which the counters of the Branch and/or the Bank Subsidiary (as applicable) are open for the transaction of ordinary business;

(c) “Bank Subsidiary” means the subsidiary or subsidiaries of the Bank which may from time to time be specified by the Bank to the Customer;

(d) “Branch” means a branch or branches of the Bank which may from time to time be specified by the Bank to the Customer;

(e) “Bank Account” means the Customer’s personal and business transaction account(s), current overdraft facility account(s) and term and call deposit accounts (as the case may be) with the Bank;

(f) “Customer” means the Bank’s Customer who is operating an active Bank Account;

(g) “Customer Group” means the Customer and where the Customer is a company, its holding company (if any) and their respective subsidiaries from time to time;

(h) “Corporate administrator”-The person appointed by the account signatories of a Bank Account held by a corporate Customer, to create other Internet Banking operators;

(i) “Corporate user/Maker” Internet Banking operator with system rights to create or initiate new instructions (payments and other requests) on internet banking system, as created by a corporate administrator;

(j) “Corporate Dual user” Internet Banking operator with rights to both create and authorize instructions(payments and requests) on Internet Banking system, as created by a Corporate administrator;

(k) “Corporate Authoriser /Checker” Internet Banking user with rights for authorizing instructions created by Corporate Maker, as created by a Corporate Administrator;

(l) “Deposit Account” means a Bank Account with an available credit balance;

(m) “General Terms and Conditions” means the Bank’s General Terms and Conditions signed by the Customer at the time the Customer opens a Bank Account;

(n) “Nominated User/s” means the representative or representatives of the Customer authorized by the Customer to hold and change the Password and hence to access the System and Service on behalf of the Customer;

(o) “Password” means the secret password known only to the Customer or Customer’s Nominated User for access to the System. The Customer or Nominated User may change the password at will;

(p) “Request” means a request or instruction received by the Bank from the Customer or purportedly from the Customer through the System and upon which the Bank is authorized to act on;

(q) “Service” means such of the internet banking services, offered by the Bank which may be collectively branded by a product name, as the Customer may from time to time subscribe for;

(r) “System” means the electronic banking and communications software enabling the Customer to communicate with the Bank for the purposes of the Service. The System and Service will for the purpose of the Subscription be accessed through the internet via the Bank’s website, www.imbank.com;

(s) “Application” means application for the Internet Banking Service by a Customer;

(t) “User ID” means a unique identifier of the customer in the Internet Banking system and typically, it is the retail customer’s Customer Identification File (CIF) as recorded in the Bank’s core banking system; and

(u) “Corporate ID” means a unique identifier of the Corporate in the Internet Banking system and typically, it is the corporate customer’s Customer Identification File (CIF) as recorded in the Bank’s core banking system;

1.2 In these Terms and Conditions:

(a) where “the Customer” is more than one person, references to “the Customer” shall include all and/or persons and the obligations of the Customer shall be joint and several;

(b) words in the singular shall include the plural and vice versa and words importing any gender shall include all other genders;

(c) the customer agrees that the Terms and Conditions set out hereunder shall apply to the use of the Service, as provided by the Bank to the customer; and

(d) the customer further agrees to accept and abide by such Terms and Conditions and instructions from time to time in force.

2.1 In consideration of the customer paying to the Bank the fees and charges set out in the tariff, the bank shall provide the Customer certain internet banking services subject to and in accordance with these terms and conditions.

2.2 The Customer will apply for the Bank’s internet banking services by completing an application form provided by the Bank or by accepting these Terms and Conditions online through the Bank’s website www.imbank.com. The Application shall be subject to the Bank’s approval.

2.3 Once the Bank has approved the Application and the Customer has been maintained in the Bank’s records as an authorized user of the Service, the Bank will provide the Customer with a User ID for retail Customers or Corporate ID for corporate Customers. The Customer shall create their preferred Password known only to them, and this Password along with their User ID or Corporate ID will allow them access for use of the Service.

2.4 Further additional internet banking services may be provided to the customer by the Bank, provided the customer completes an application form in respect of such additional services, or accepts the additional terms and conditions online, and the Bank reserves the right to modify, replace or withdraw any Service at any time, for any reason whatsoever, without prior notice to the Customer.

2.5 The Customer’s application for and use of the Service shall be subject to these terms and conditions and any personal or business transaction, term, call and overdraft accounts agreements between the Bank and Customer and shall be additional to and read together with the Bank’s General Terms and Conditions signed by the Customer. Where there is any conflict between these Terms and Conditions and the Bank’s General Terms and Conditions, these Terms and Conditions shall apply.

3.1 Holders of joint accounts are jointly and severally liable under these Terms and Conditions. Application for the Service made by any of the joint account holders acting alone as per paragraph 2 above will be deemed to be binding on all the holders of the joint accounts. Each joint account holder acting alone, under an assigned User ID and Password may use the Service. The Bank shall not be required to obtain the consent of or notify any other joint account holder of the Requests. However each joint account holder may access the Service for the accounts for which they are an owner, joint owner or Nominated User using the assigned User ID and Password.

3.2 Each joint account holder releases the Bank from any and all liability and agrees not to make any claim or bring any action against the Bank for honouring or allowing any actions or requests whether the person performing the transaction is one of the joint account holders or is otherwise authorized to use the Service.

4.1 For corporate customers, the account signatories shall nominate a Corporate administrator thus granting him the rights to create other Internet banking operators i.e. the makers and checkers.

4.2 The Corporate administrator will be responsible for creating other Internet Banking operators (Corporate users/Maker, Dual User, Authoriser/Checker) and assigning them limits, as per approved authorization matrix by account signatories.

4.3 Any instructions coming through internet banking through maker checker mandate as set-up by Corporate administrator as per subparagraph 4.2 above will be considered to have come through the account signatories as per operating mandate of the account.

5.1 The Customer shall at their own expense provide and maintain in safe and efficient operating order such hardware, software and other facilities (including access to any public telecommunications systems) and any communications network (collectively “the Facilities”) necessary for the purpose of accessing the System and the Service.

5.2 The Customer shall be responsible for ensuring proper performance of the Facilities including any losses or delays that may be caused by the Facilities. The Bank shall neither be responsible nor liable for any errors or failures caused by any malfunction of the Facilities nor shall the Bank be responsible or liable for any computer virus or related problems that may be associated with the use of the System, the Service and the Facilities. The Customer shall be responsible for charges due to any service provider providing the Customer with connection to the internet and the Bank shall not be responsible or liable for losses or delays caused by any such services provider.

5.3 The Customer shall obtain all licenses and consents necessary to have access to and use of the System and shall ensure that all persons it allows to have access to the System shall comply with all laws and regulations applicable to the use of the System and shall follow all instructions, procedures and terms contained in these Terms and Conditions and any document provided by the Bank concerning the use of the System and Service.

5.4 The Customer shall prevent any unauthorized access to or use of the System and Service by keeping their User ID/Corporate ID and Password secret at all times. The Customers shall ensure that their User ID/Corporate ID and Password do not become known or come into possession of any unauthorized person.

5.5 The Customer shall take all reasonable and necessary precautions to detect any unauthorized use of the System and Service. To that end, the Customer shall ensure that all communications from the Bank are examined and checked by or on behalf of the Customer as soon as practicable after receipt by the Customer in such a way that any unauthorized use of and access to the System will be detected.

5.6 The Customer shall immediately inform the Bank by telephone with a written confirmation sent the same day in the event that: (a) the Customer has reason to believe that any Password used by the Customer to gain access to the Service and to communicate with the Bank is or may be known to any person not authorized to know the same and/or has been compromised; and/or (b) the Customer has reason to believe that unauthorized use of the Service has or may have occurred or could occur and a transaction may have been fraudulently input or compromised.

5.7 The Customer shall not send or attempt to send any Request to the Bank through the System if the Customer has reason to believe that for any reason such Request may not be received by the Bank or may not be received accurately and intelligibly.

5.8 The Customer shall at all times follow the security procedures notified to the Customer by the Bank from time to time or such other procedures as may be applicable to the Service from time to time and specifically those that may be contained on the Bank’s internet website. The Customer acknowledges that any failure on the part of the Customer to follow the recommended security procedures may result in a breach of the Customer’s profile confidentiality and may lead to unauthorized transactions in account(s) linked to the Customer’s Service subscription with the Bank. In particular, the Customer shall ensure that the Service is not used or Requests are not issued or the Relevant functions are not performed by anyone other than a person authorized to do so.

5.9 The Customer shall not at any time operate or use the Service in any manner that may be prejudicial to the Bank.

5.10 The Bank shall be entitled and authorized to debit the Customer’s Bank Account with the amounts of the transactions effected via the Service as well as debit the Customer’s Bank Account with the amount of any fees applicable to the Service from time to time.

6.1 The Bank is irrevocably authorized by the Customer to act on all Requests received by the Bank from the Customer (or purportedly from the Customer) through the System and to hold the Customer liable thereof, notwithstanding that any such requests are not authorized by the Customer or are not in accordance with any existing mandates given by the Customer. If the Customer requests the Bank to cancel any transaction or instruction after a Request has been received by the Bank from the Customer, the Bank may in its absolute discretion cancel such transaction or instruction but shall have no obligation to do so.

6.2 The Bank shall be entitled to accept and to act upon any request, even if that Request is otherwise for any reason incomplete or ambiguous if, in its absolute discretion, the Bank believes that it can correct the incomplete or ambiguous information in the Request without reference to the Customer being necessary.

6.3 The Bank shall not be obliged to accept or to act upon any Request if to do so would require access to, action by, or information from the Branch, or any Bank Subsidiary located in any jurisdiction where it is not a Banking Day at the relevant time when such access, action or information is required or would cause a breach of any existing mandate facility limit or agreement between the Bank, the Branch and/or Bank Subsidiary (as applicable) and the Customer. In the event that the Bank does accept or act upon any such Request, the Customer shall remain liable thereof.

6.4 In the event of any conflict between any terms of any Request from the Customer and the terms of these Terms and Conditions, the terms of these Terms and Conditions shall prevail. These Terms and Conditions and all authorizations and other procedures agreed under these Terms and Conditions supplement any General Terms and Conditions and any mandates, which apply to the Customer’s Bank Accounts with the Bank.

7.1 The Customer may transfer or effect a payment for any amount as long as the transaction does not cause the balance in the Deposit Account to be less than zero unless the Customer has either an approved overdraft facility for the affected Deposit Account or a term Deposit Account pledged with the Bank to cover excesses that may arise in the affected Deposit Account from time to time in which case the two accounts are linked in the System for that purpose.

7.2 If the Customer has an approved overdraft facility or term Deposit Account linked to the payment Deposit Account, the transfers and/or electronic bill payments using the Service should not exceed the approved overdraft facility or the pledged term Deposit Account.

8.1 All activities performed by the Customer once allowed access into the System will be logged until the Customer ends a session. The Bank shall maintain copies of all Requests received from the customer in electronic form. In addition, any hard copies of documentation prepared by the Bank in the process of effecting a transaction as per the Customer’s Requests will be maintained. As between the Customer and the Bank, the Bank’s copy records shall be conclusive evidence of the fact of receipt or non-receipt of a Request and of the contents of such Request.

8.2 The Account statement (hereinafter “the Account Statement”) that the customer receives at the determined product frequency will reflect all the Service transactions.

8.3 The Customer shall be deemed to have accepted and shall not subsequently challenge or object to any of the transactions contained in the Account Statement if the Customer fails to object to the Account Statement in writing within 30 days from the date the Account Statement was sent or deemed to have been sent to the Customer by the Bank.

9.1 The Customer shall pay to the Bank transaction charges applicable to various transaction types as advised by the Bank from time to time. The Bank may in its sole discretion revise these charges and fees.

9.2 The Customer shall pay any tax chargeable upon any sums payable by the Customer to the Bank and also any other charges or duties levied on the Customer or the Bank by any governmental or statutory body relating to the provision of the Service.

9.3 The Bank is hereby irrevocably authorized from time to time to debit any amounts payable by the Customer under the provisions of subparagraphs 9.1 and/or 9.2 to any account in any currency maintained by the Bank, the Branch and/or the Bank subsidiaries (as applicable) in the name of the Customer. In addition to the fees payable under these Terms and Conditions, the charges and fees applicable to the Customer’s Bank Accounts will apply.

10.1 Circumstances not within the Bank’s control. The Bank shall not be responsible or liable for any loss suffered by the Customer should the Service be interfered with or be unavailable by reason of (a) any industrial action, (b) the failure of any of the Customer’s Facilities, or (c) any other circumstances whatsoever not reasonably within the Bank’s control including, without limitation, force majeure or error, interruption, delay or non-availability of the System, terrorist or any enemy action equipment failure, loss of power, adverse weather or atmospheric conditions, and failure of any public or private telecommunications system.

10.2 Electronic Bill Payments and Transfer of Funds.

(a) the Bank will not be liable for any losses or damage suffered by the Customer as a result of delay, failure and/or refusal by the Bank to act on a Request in time or at all in any one or more of the following circumstances (as the case may be): (i) if the Customer does not have enough funds in the Deposit Account; (ii) if the payment or transfer would result in the Customer’s approved overdraft facility limit being exceeded; (iii) if the Customer does not authorize a bill payment in good enough time for the payment to be made and properly credited by the payee (the Customer’s counter-party) by the time it is due; (iv) if the System or the Customer’s Facilities were not working properly; (v) if circumstances beyond the Bank’s control including those specified in sub paragraph 10.1 above prevent the Bank from making a payment or transfer; (vi) if the money in the Customer’s account is subject to legal process court order or other encumbrance restricting the payment or transfer; (vii) if the Customer does not give proper or complete instructions for the payment or transfer or the Customer does not follow the procedures in this or other applicable agreement with the Bank for requesting a payment or a transfer; (viii) if the Bank has reason to believe that the Customer or someone else is using the Service for fraudulent or illegal purposes; (ix) if a payment or a transfer request would consist of money deposited in a form or by a method that has not yet made the money available for withdrawal; (x) if the payment or transfer request is in contradiction or conflict with other existing account agreements with the customer; and (xi) if the payment or transfer request is received at a time when it is operationally not possible to effect the same within working hours of that day.

(b) if the Bank makes a timely payment or transfer but the payee nevertheless fails to credit the Customer’s payment promptly after receipt, the Bank shall not be liable for any loss or damage suffered by the Customer as a result of such failure on the part of the payee.

10.3 Indemnity.

(a) the Customer shall indemnify and keep the Bank indemnified on a full and unqualified indemnity basis against all and any costs (including legal costs), claims, actions, proceedings, losses, damage, demands, liabilities, and expenses suffered or incurred by the Bank in connection with or arising from (a), (b) and/or (c) of subparagraph 10.1 or where the particular circumstances is within the Customer’s control and against all and any costs (including legal costs), claims, actions, proceedings, losses, damage, demands, liabilities, and expenses suffered or incurred by the Bank as a consequence of any breach by the Customer of any term or condition hereof;

(b) the Customer shall indemnify and keep indemnified the Bank against any demands, claims, actions, losses, damages or costs relating to or in connection with the Service, whether directly or indirectly, unless such demands, claims, actions, losses, damages, or costs arose as a direct consequence of the gross negligence or willful misconduct of the Bank or any of its employees;

(c) the Customer shall indemnify and keep indemnified the Bank against the following: (i) all demands, claims, actions, losses and damages of whatever nature which may be brought against the Bank or which it may suffer or incur arising from the Bank’s reliance on any incorrect, illegible, incomplete or inaccurate information or data contained in any Request received by the Bank; (ii) any loss or damage that may arise from the Customer’s use, misuse, abuse or possession of any third party software, including without limitation, any operating system, browser software or any other software packages or programs; (iii) any unauthorized access to the Customer’s accounts or any breach of security or any destruction or accessing of the Customer’s data or any destruction or theft of or damage to any to the Customer’s equipment; (iv) any loss or damage occasioned by the failure by the Customer to adhere to any terms and conditions applicable to the Service and/or by supplying of incorrect information or loss or damage occasioned by the failure or unavailability of third party facilities or systems or the inability of a third party to process a transaction; and (v) any loss or damage that may arise from the use of the Service by the Customer, any joint account holder, Corporate Administrator, Corporate User/Maker, Corporate Dual user and/or Corporate Authoriser/Checker.

10.4 if for any reason other than a reason mentioned in subparagraph 10.1 the Service is interfered with or unavailable, the Bank’s sole liability in respect thereof shall be to re-establish the Service as soon as reasonably practicable or, at the Bank’s option, to provide to the Customer alternative banking facilities which need not be electronic facilities.

10.5 save as provided in subparagraph 10.4, the Bank shall not be liable to the Customer for any interference with or unavailability of the Service, howsoever caused.

10.6 under no circumstances shall the Bank be liable to the Customer for any loss of profit or anticipated savings or for any indirect or consequential loss of whatever kind, howsoever caused, arising out of or in connection with the Service.

10.7 except in respect of death or personal injury caused by the negligence of the Bank, the Bank shall be under no liability for any claim whatsoever in respect of any terms and conditions contained herein or their performance thereof or any transactions effected by the Bank in response to any Request unless the Bank has received notice in writing of any such claim from the Customer:

(a) in the case of any claim relating to a transaction, within thirty (30) days from the date of the alleged transaction on which such claim is based; and

(b) in all other cases within ninety (90) days of the date of the alleged action or inaction by the Bank on which such claim is based.

10.8 to the extent permitted by law, the Bank: (a) disclaims all warranties with respect to the System and Service either express or implied, including but not limited to any implied warranties relating to quality, fitness for any particular purpose or ability to achieve a certain result; and

(b) makes no warranty that the System is error free or that its use will be uninterrupted and the Customer acknowledges and agrees that the existence of such errors shall not constitute a breach of these Terms and Conditions.

The Bank may vary these Terms and Conditions at any time by giving a 30 days’ notice to the Customer. Notification of any such variation will be given to the Customer either in writing or by publication thereof by such means as the Bank may decide and such variation shall be binding on the Customer.

12.1 notwithstanding anything contained in these Terms and Conditions, the Subscription may be terminated at any time by either party.

12.2 upon termination, if the Customer re-applies for a Subscription, a reconnection fee may be payable .

12.3 the Bank may unilaterally terminate the Subscription for any reason, including but not limited to in the event that the Customer’s Bank Account does not have sufficient available balances for the Bank to debit the applicable charges for the Subscription.

12.4 if the Customer terminates the Subscription, the Bank may continue to make electronic bill payments, transfer of funds and other transactions that the Customer would have previously authorized until such time as the Bank will have had a reasonable opportunity to act on the Customer’s notice of termination.

12.5 the termination of this Subscription shall not, in itself, terminate or affect the relationship of Banker and Customer between the Bank and the Customer.

12.6 paragraphs 10, 14 and 17 shall survive termination of the Subscription.

13.1 the Customer shall not assign any benefit or any rights arising hereunder without the prior written consent or confirmation from the Bank.

13.2 no waiver by the Bank of any breach by the Customer of any of the Terms and Conditions hereof shall be effective unless it is an express waiver in writing of such breach. No waiver of any such breach shall waive any subsequent breach by the Customer.

13.3 the Customer acknowledges:

(a) that it has not relied upon any representation, warranty, promise, statement of opinion or other inducement made or given by or on behalf of or purportedly by or on behalf of the Bank in deciding to; and that

(b) no person has or has had authority on behalf of the Bank whether before, on or after the subscription to make or give any such representation, warranty, promise, statement of opinion or other inducement to the Customer or to enter into any collateral or side agreement of any kind with the Customer in connection with the Service.

13.4 for the avoidance of doubt, nothing herein shall vary, discharge or in any other way affect or prejudice any security granted by the Customer or any third party in favour of the Bank in relation to any obligations of the Customer which may rise if any Request from the Customer hereunder is acted upon by the Bank.

13.5 if any provision of these Terms and Conditions is or becomes illegal, invalid or unenforceable in any jurisdiction, such illegality, invalidity or enforceability shall not affect the legality, validity or enforceability of the remaining provisions of these Terms and Conditions.

13.6 any notice required to be given in writing under these Terms and Conditions shall be sufficiently served if sent by registered post, stamped and properly addressed:

(a) to the manager of the Branch or of the Bank at the address of the Branch or the Bank, if to be served on the Bank; or

(b) to the Customer at the address of the Customer as per the Bank’s records, if to be served on the Customer. And shall be deemed to have been served five banking days after posting.

14.1 the Customer undertakes to maintain strict confidentiality of its User ID/Corporate ID and Password and any other information and materials of any nature supplied to it by the Bank in relation to the Service. The Customer agrees to notify its agents, employees and/or sub-contractors of the provisions of this paragraph and to impose this confidentiality requirement on its agents, employees and/or sub-contractors entering into separate agreements, if necessary. The Customer shall be fully liable to the Bank for any breach of the provisions of this paragraph by itself, its employees, agents and/or sub-contractors.

14.2 the Customer hereby agrees that, if necessary for the provision of the Service, the Bank may disclose information about the Customer to any member of the Bank Group or the Customer Group.

14.3 the Customer also hereby agrees that the Bank may disclose information about the Customer to third parties’ in the following circumstances:-

(a) where such disclosure is necessary in order for the Bank to act on a Request;

(b) in order to comply with any law regulation or court order. If the Bank has to obey an order for information from an authorized government body, the Bank may, to the extent required by law, notify the Customer before giving out the information;

(c) disclosure to the Bank’s agents, sub-contractors, auditors, attorneys and other professional service providers to the extent required in the normal course of their duties;

(d) disclosure to a licensed credit reference agency the services of whom the Bank may have subscribed to; (e) if it involves a claim by or against the Bank in respect of an item deposited or drawn against the Customer’s account; and

(f) If the Customer authorizes the disclosure.

15.1 the Customer acknowledges that the intellectual property rights in the System (and any amendments or enhancements thereto from time to time) and all associated documentation that the Bank provides to the Customer through the System or otherwise are vested either in the Bank or in other persons from whom the Bank has a right to use and to sub-license the System and/or the said documentation. The Customer shall not infringe any such intellectual property rights.

15.2 the Customer shall not duplicate, reproduce or in any way tamper with the System and associated documentation without the prior written consent of the Bank.

Nothing in these Terms and Conditions shall create any agency, fiduciary, joint venture or partnership relationship between customer and the Bank.

The headings contained in these Terms and Conditions are for convenience of reference only, and shall not be deemed to be a part of these Terms and Conditions neither be referred to in connection with the interpretation of these Terms and Conditions.

In the event that any provision of these Terms and Conditions or the application of any such provision to any person or set of circumstances shall be determined to be invalid, unlawful, void or unenforceable to any extent, the remainder of these Terms and Conditions and the application of such provision to persons or circumstances other than those as to which it is determined to be invalid, unlawful, void or unenforceable, shall not be impaired or otherwise affected and shall continue to be valid and enforceable to the fullest extent permitted by law.

If there are two or more persons comprised in the expression “the customer” then the undertakings and liabilities of the Customer under these Terms and Conditions shall be joint and in solid undertakings and liabilities shall be construed accordingly and reference herein to the “customer” shall mean any or more of them. If the customer is a corporate body, then these Terms and Conditions shall continue in full force and effect and continue to bind each of its assigns and successors.

These Terms and Conditions shall be governed by and construed in accordance with the law of the Republic of Kenya and all disputes, actions and other matters relating thereto will be determined in accordance with such law.

IWD Accelerate Action Campaign

Please find the Terms and Conditions here.

KFC and Ubereats Mastercard Kenya Campaign

Find the FAQs and T&Cs Here

Please Find the Terms and Conditions HERE

Mahali Uko Tuko

Please find the Terms and Conditions HERE

Mastercard Magical Kenya Campaign

Find the FAQs and T&Cs Here

Please find the Terms and Conditions HERE

Ni Sare Kabisa Campaign T&Cs

Find the FAQs and T&Cs Here

1. One must be the 100th New Customer to fund their new personal account to win.
2. The eligible personal accounts are PayGo & Club (Local Currency) and Sapphire (Foreign Currency).
3. One is eligible to win if they opened a personal account after 23rd August 2023 till 23 September 2023 or a date decided by the bank.
4. Minimum amount one can fund is Ksh 1,000 for Club & PayGo accounts and USD 100 for Sapphire account.
5. Free bank to wallet transfers are applicable on transfers done via I&M OTG App to M-PESA and Airtel Money only.
6. Free bank to M-PESA and Airtel Money transfers are applicable only to Club and PayGo accounts.
7. I&M Bank reserves the right to review/amend the terms and conditions at its discretion.
8. I&M Bank will not be responsible or liable for any failure or breach of delivery of any aspect of the offer.

Outward Swift (RTGS and Overseas) Remittances Terms and Conditions

i. On requesting l&M Bank Ltd (the Bank) to make remittances (details of which are contained herein) on my/our behalf, I/We hereby agree to be bound by the following terms and conditions.

ii. I/We represent and warrant the information given on this form is true complete and correct. I/We shall be fully responsible for any inaccurate, untrue or incomplete information provided in this form.

iii. I/We acknowledge that the Bank may process my/our remittances in accordance with its policies and procedures and, for this purpose, it shall have absolute discretion, on my/our behalf, to avail of the services of any correspondent banks and agents for data processing collection and other services related to the remittance transactions.

iv. l&M Bank Tariffs shall apply on local charges. I/We authorize the Bank to debit my/our account(s) for any funds/wire transfer (outward remittance), transaction fees and charges which may be due and payable thereunder. These charges shall be debited to the remittance account unless expressly indicated otherwise.

v. Remittance applications are subject to the Bank's cut off times and RTGS' are also subject to cut off times of the Central Bank of Kenya.

vi. Instructions received after cut off time shall be processed on the next banking day.

vii. The Bank will not be liable for any loss or delays which may occur after the transfer has been done as per instruction and shall not be liable for errors, neglect or default that might be committed in the transmission of the message, or in the misinterpretation thereof by the party/ies receiving it.

viii. Once a payment is transmitted it shall be deemed finalized. Any requests for amendment, cancellation or recall must be made in writing. Bank charges will be as per the Bank's tariff.

ix. The Bank reserves the right to use any of its correspondent banks as its operational circumstances shall dictate. The Bank shall not be responsible nor liable for the acts or omissions of any other bank (including correspondents) for mutilations, interruptions, defaults, errors, non-transmission mishaps, accidents, or delays that might occur in the servicing of the transactions or for causes beyond the control of the Bank or its correspondent banks or agents.

x. Correct remittance currency should be indicated using Standard Currency Abbreviations e.g. USO (United States Dollar), GBP (Pound Sterling), EUR (Euro Unit), JPY (Japanese Yen), AED (Arab Emirates Dhiram), CNY (Chinese Yuan Renminbi), ZAR (South African Rand), INR (India Rupee), CAD (Canadian Dollars) etc.

xi. Transactions sent with details of charges denoted as 'OUR' shall be at the discretion of the Payee Bank(s) to honor the 'OUR' request. The Bank however reserves the right to request and obtain additional information from me/us from time to time to enable it to perform and/or complete the remittance transactions failing which entitles the Bank to close my/our account or discontinue providing the service anytime without further notice.

xii. I/We hereby authorize the Bank to irrevocably disclose and share any information deemed necessary, as sought by intermediary banks and governing bodies in order to comply with applicable legal and regulatory requirements and confidentiality or data privacy laws of Kenya and other jurisdictions. Such information shall include but is not limited to information relating to me/us, my/our accounts and my/our transactions (including any information pertaining to my/our directors, officers, employees, beneficial owners, customers, authorized users of the Bank's electronic facilities, and my/our such other authorized persons and personnel or such other information that will allow the Bank to identify me/us).

xiii. Charges claimed by payee banks for transactions sent with details of charges denoted as 'OUR' shall be debited to the remittance account. Any currency conversions for the charges shall be done at the Bank's prevailing rates.

xiv. I/We acknowledge that the provisions herein are in addition to and are not exclusive of any other terms and conditions set out in any agreement or document entered into or exchanged with l&M Bank which may apply in respect of the transactions herein.

Personal T&C

Please find the Terms and Conditions HERE

Find the FAQs and T&Cs Here

Please Find the Terms and Conditions HERE

Please find the I&M Bank Debit Cards Terms and Conditions HERE.

Prepaid Card Promotion 2019 Terms and Conditions

The Card Holder shall not hold the Bank responsible or liable for any loss or damage which the Card Holder may incur or suffer directly or indirectly arising out of or in connection with the above promotion for any reason whatsoever.

The I&M Safari Prepaid Card and the I&M Mpesa Prepaid Card are not part of this promotion and hence do not qualify for the 1 Year Free Travel Insurance.

The FREE 1 year Travel Insurance is open to anyone who purchases an I&M Multicurrency Prepaid Card or I&M Travel Prepaid Card within the promotion period (18th October 2019 to 31st December 2019)

The duration of the I&M Prepaid Cards Promotion shall be valid from 18th October 2019 to 31st December 2019.

By participating in the promotion, each entrant fully and unconditionally agrees and acknowledges that the terms and conditions of entry and the decisions on all matters relating to the promotion are final and binding.

Revamped Short Term Loans

Please find the Terms and Conditions here.

Social Media Policy

Terms and Conditions Governing The Use of I&M Next Generation Banking Facility

1.1 In these Terms and Conditions (the “Terms and Conditions Governing The Use of I&M Next Generation Banking Facility”), including any Schedule, unless the context otherwise requires:

(a) “Access Profile” means the information and or documentation held by the Bank in respect of the Customer and/or the Nominated User for purposes of the Customer’s and/or Nominated User’s access to the System and/or use of the service;

(b) “Application Form” means the Form to be completed for Subscription;

(c) “Associate” means the same as the definition of “associate” under the relevant provisions of the Banking Act, Chapter 488 of the Laws of Kenya;

(d) “Bank” means I&M Bank Ltd;

(e) “Banking Day” means a day on which the counters of the Branch and/or the Subsidiary (as applicable) are open for the transaction of ordinary business;

(f) “Branch” means (including the main registered office of the Bank) all places either in or outside the Republic of Kenya where the Bank’s business is operated and conducted;

(g) “Bank Account” means an account held by the Customer with the Bank (including without limitation) any account in relation to any advance, deposit, contract, product, dealing or service established and operated between the Bank and the Customer;

(h) “Card” means the Credit Card, Debit Card and/or Prepaid Card issued by the Bank to the Customer and/or to the Nominated User;

(i) “Customer” means a holder of a Bank Account whose Subscription has been approved by the Bank;

(j) “Deposit Account” means a Bank Account with an amount therein which can be drawn by the Customer without any restriction by the Bank;

(k) “Email” means Electronic Mail;

(l) “Electronic Banking Services” means the Bank’s Next Generation Banking Facility;

(m) “General Terms and Conditions” means the I&M Bank Limited General Terms and Conditions in respect of the Bank Account;

(n) “I&M Infomail Service” means (including without limitation) the service extended by the Bank to a Customer whereby the Bank transmits to the Customer an appropriate email message containing information on balances and transactions in the Bank Account;

(o) “I&M Mobile Banking Service” means (including without limitation) the service extended by the Bank to a Customer whereby upon request by a Customer and/or Nominated User to the Bank through a Phone :

(i) the Bank transmits to the Phone information on the balance and/or transactions in the Bank Account;

(ii) effects a transfer of an amount from a Deposit Account to another Bank Account, Card or Phone Account, including through I&M Pesa Link Service;

(iii) the Customer and/or Nominated User purchases Airtime using funds held in a Deposit Account;

(iv) the Customer and/or Nominated User pays Bills from selected service providers (as may be notified by the Bank to the Customer from time to time) using funds held in a Deposit Account;

(v) the Customer and/or Nominated User pays a merchant for Goods or Services received using funds held in a Deposit Account;

(vi) the Bank acts upon Request including but not limited to Requests to stop a Cheque, issue a Cheque Book, change the Mobile Banking PIN and/or update the contact information held by the Bank in respect of a Customer and/or Nominated User;

(vii) the Bank transmits to the Phone an appropriate SMS containing information regarding the Bank Account, including but not limited to information regarding the status of any Banking facilities extended by the Bank to a Customer and/or Nominated User, the Bank’s foreign exchange rates, the Bank’s interest rates, etc;

(viii) the Bank transmits to the Phone an appropriate SMS containing information on transactions effected using the Card and/or transactions effected through the Bank Account; and

(ix) any other service that the Bank offers in future as part of I&M Mobile Banking Service;

(p) “Ï&M Agency Banking Service” incorporating all the services offered through a phone or Point of Sale Machine at an authorised Agent of the Bank including the services described in clause 1.1 (o) and any other service that the bank offers through its Agents;

(q) “I&M Pesa Link Service” incorporating payments from the Bank Account to other Bank accounts, phones or cards through the Kenya Inter-Bank Transaction Switch ( KITS) offered through I&M Mobile Banking Service, I&M Agency Banking Service, the Bank branches, Bank Automated Teller Machines or any other channel;

(r) Mobile Banking PIN means the secret Personal Identification Number that is known only to the Customer and/or the Customer’s Nominated User and which number is the unique link to Access the System and/or make transactions thereon. This could be assigned for use on a recurrent basis or for one time use (OTP);

(s) “Next Generation Banking Facility” means I&M Infomail Service, I&M Mobile Banking Service, I&M Agency Banking Service, I&M Pesa Link Service and such other services as may be notified by the Bank to the Customer from time to time;

(t) “Nominated User/s” means any representative(s) of the Customer authorized by the Customer to operate Customer’s Bank Account and/or Deposit Account and access the System and Service on behalf of the Customer including to hold and change the I&M Mobile Banking PIN;

(u) “Phone” means a Customer’s and/or the Nominated User’s cellular/mobile telephone line which has been duly registered with the Bank as part of the Customer’s and/or Nominated User’s Access profile;

(v) “Phone Account” means Customers and/or Nominated User’s cellular/mobile banking account held through their phone;

(w) “Request” means a request or instruction received by the Bank from (or purportedly from) the Customer and/or the Nominated User through the System in respect of the Service and upon which the Bank is, by virtue of subparagraph 4.1, authorized to act;

(x) “Service” means such of the Bank’s Next Generation Banking Facilities as the Customer may from time to time apply for and the Bank approve and/or agree to provide;

(y) “Subscription” means application for the Service by a Customer;

(z) “Subsidiary” means such subsidiary or subsidiaries of the Bank which may from time to time be specified by the Bank to the Customer; and

(aa) “System” means the electronic multi-media banking and communications software and/or equipment enabling the Customer to communicate with the Bank for the purposes of the Service. This System may belong to the Bank or to its authorised third party service provider.

1.2 In these Terms and Conditions Governing the Use of I&M Next Generation Banking Facility:

(c) any obligation imposed by or resulting from these Terms and Conditions Governing the Use of I&M Next Generation Banking Facility which is undertaken by more than one person shall be a joint and several obligation of each of the persons who has undertaken it whether as principal, guarantor, indemnifier, surety or otherwise.

2.1 Upon approval of the Subscription by the Bank as well as payment by the Customer of the fees and charges set out in paragraph 7 below to the Bank, the Bank shall provide to the Customer the Service subject to and in accordance with the Terms and Conditions Governing the Use of I&M Next Generation Banking Facility as well as the General Terms and Conditions.

2.2 Where the Customer subscribes for the I&M Infomail Service, the Customer shall, indicate an email address in the Application Form, which email address shall be registered by the Bank. Only Requests received through the Customer’s said registered email address shall be acted upon by the Bank.

2.3 Where the Customer subscribes for the I&M Mobile Banking Service, the Customer shall, indicate a phone number in the Application Form, which phone number shall be registered by the Bank. Only Requests received through the said phone number shall be acted upon by the Bank. The Customer can only register one Phone number with the Bank.

2.4 Where the Customer subscribes for I&M Pesa Link Service, the Customer will designate the Bank Account/Card and mobile number during the initial registration process.

2.5 The Customer undertakes to provide accurate information in the Subscription and further undertakes that the customer and/or the Nominated user shall promptly provide accurate information in furtherance of the subscription whenever required to do so by the Bank .The Customer and/or the Nominated user shall be responsible for the correctness and authenticity of any and all information provided by them to the Bank. The Bank shall not be liable to the Customer and/or the Nominated User and or any third party for any loss and/or damage arising out of any inaccurate information provided by the Customer and/or the Nominated user, however so caused. The Customer and/or the Nominated User unconditionally and irrevocably undertake and agree to fully indemnify the Bank against all claims, demands, losses, costs, damages, liabilities or expenses whatsoever which the Bank may at any time incur, sustain or suffer as a result of relying on any inaccurate information provided by the Customer and/or the Nominated User and also agree to reimburse the Bank in full, upon demand, for all payments, losses, costs, damages, liabilities and expense made, suffered or incurred by the Bank as a consequence thereof or arising there from.

2.6 The Bank reserves the right to add, modify, replace or withdraw any Service at any time, for any reason whatsoever, without prior notice to the customer.

3.1 The Customer shall at their own expense provide and maintain in safe and efficient operating order such hardware, software, phone, and other communication equipment and facilities (including access to any public telecommunications systems) and any communications network (collectively “the Facilities’) necessary for the purpose of accessing the System and the Service.

3.2 The Customer shall be responsible for ensuring proper performance of the Facilities including any losses or delays that may be caused by the Facilities. The Bank shall neither be responsible nor liable for any errors or failures caused by any malfunction of the Facilities nor shall the Bank be responsible or liable for any computer virus or related problems that may be associated with the use of the System, the Service and the Facilities. The Customer shall be responsible for charges due to any service provider providing the Customer with connection to the internet, cellular phone, telephone or any other applicable media services and the Bank shall not be responsible or liable for losses or delays caused by any such service provider.

3.3 The Customer shall obtain all licenses and consents necessary to have access to and use of the System and shall ensure that all persons they allow to have access to the System shall comply with all laws and regulations applicable to the use of the System and shall follow all instructions, procedures and terms contained in the Terms and Conditions Governing The Use of I&M Next Generation Banking Facility and any document provided by the Bank concerning the use of the System and Service.

3.4 The Customer shall prevent any unauthorised access to and/or use of the System and Service by keeping their Mobile Phone handsets, SIM cards and/or Mobile Banking Devices secured and Mobile Banking PIN secret at all times. The Customer shall ensure that their Mobile Banking PIN does not become known or come into possession of any unauthorised person.

3.5 The Customer shall take all reasonable and necessary precautions to detect any unauthorised use of the System and Service. To that end, the Customer shall ensure that all communication from the Bank is examined and checked by or on behalf of the Customer as soon as practicable after receipt by the Customer in such a way that any unauthorised use of and access to the System shall be detected.

3.6 The Customer shall immediately inform the Bank by telephone followed by a written confirmation sent on the same day in the event that:

(a) the Customer has reason to believe that Mobile Banking PIN is or may be known to any unauthorised person and/or has been compromised; and/or

(b) the Customer has reason to believe that unauthorised use of the System and/or the Service has or may have occurred or could occur and/or a transaction in respect of the Service may have been fraudulently inputted or compromised.

(c) the Customer has reason to believe that his/her Phone or email address has been misused in any manner by a third party.

3.7 The Customer and/or the Nominated User shall not send or attempt to send any Request to the Bank through the System if the Customer has reason to believe that for any reason such Request may not be received by the Bank or may not be received accurately and intelligibly.

3.8 The Customer and/or the Nominated User shall at all times follow the security procedures notified to the Customer by the Bank from time to time or such other procedures as may be applicable to the Service from time to time and specifically those that may be contained on the Bank’s internet website or product literature. The Customer acknowledges that any failure on the part of the Customer and/or the Nominated User to follow the recommended security procedures may result in a breach of the Access Profile confidentiality and may lead to unauthorised use of the System and/or Service. In particular, the Customer shall ensure that the Service is not used or Requests are not issued or the relevant functions are not performed by anyone other than a person authorised to do so.

3.9 The Customer and/or the Nominated User shall not at any time operate or use the Service in any manner that may be prejudicial to the Bank.

3.10 The Customer understands and accepts that it may link a Bank Account with multiple signatories to the Customer’s Access Profile and Service only if the Customer has submitted to the Bank an original Application Form executed by all signatories to the said Bank Account confirming that the Bank is authorised to act on all Requests. It shall be the sole responsibility of the Customer to ensure that no unauthorised persons have access to the said Bank Account.

3.11 The Bank shall be entitled and authorised to debit the Customer’s Bank Account with the amounts of the transactions effected via the Service as well as to debit the Customer’s Bank Account with the amount of any fees applicable to the Service from time to time.

4.1 The Bank is irrevocably authorised by the Customer to act on all Requests and to hold the Customer liable therefore, notwithstanding that any such Requests are not issued by/and or authorized by the Customer and/or Nominated User or are not in accordance with any existing mandates given by the Customer. If the Customer and/or the Nominated User requests the Bank to cancel any transaction or instruction after a Request has been received by the Bank from the Customer, the Bank may in its sole and absolute discretion cancel such transaction or instruction.

4.2 The Bank shall be entitled to accept and to act upon any Request, even if that Request is for any reason incomplete or ambiguous if, the Bank, in its sole and absolute discretion believes that it can act upon the Request the incompleteness or ambiguity of the Request notwithstanding.

4.3 The Bank shall not be obliged to accept or to act upon any Request if to do so would require access to, action by, or information from the Branch, or any Subsidiary located in any jurisdiction where it is not a Banking Day at the relevant time when such access, action or information is required or would cause a breach of any existing mandate facility limit or agreement between the Bank and the Customer. In the event that the Bank does accept or act upon any such Request, the Customer shall remain liable for and indemnify the Bank against all claims, demands, losses, costs, damages, liabilities or expenses whatsoever which the Bank may at any time incur, sustain or suffer as a result of accepting or acting upon such Request.

4.4 In the event of any conflict between any terms of any Request from the Customer and the Terms and Conditions Governing the Use of I&M Next Generation Banking Facility the Terms and Conditions Governing the Use of I&M Next Generation Banking Facility, shall prevail. The Terms and Conditions Governing the Use of I&M Next Generation Banking Facility and all authorizations and other procedures arising here from supplement the General Terms and Conditions and any other mandates, which apply to the Bank Account(s).

The Customer and / or the Nominated User may transfer or effect a payment for any amount subject to the provisions of paragraph 3.10 of the Terms and Conditions Governing The Use of I&M Next Generation Banking Facility provided that such transaction in respect of the Service does not cause the balance in the Deposit Account to fall below the prescribed minimum balance of the Deposit Account or exceed the limit of any overdraft facility extended and approved by the Bank in respect of a Deposit Account)unless the Customer has a separate term Deposit Account duly pledged with the Bank to cover excesses that may arise in the affected Deposit Account from time to time in which event the said Deposit Accounts must be linked in the System for that purpose and the said transaction cannot cause the excess balance in the affected Deposit Account to exceed the amount pledged in the term Deposit Account.

6.2 All transactions in respect of the Service performed by the Customer and/or the Nominated User once allowed access into the System shall be logged for the period that the Customer and/or the Nominated User has access to the System. The Bank shall maintain copies of all Requests in applicable electronic multi-media form;

6.3 All documents and other electronic multi-media records of whatever nature held and/or issued and/or maintained by the Bank in respect of a Request and/or the Service, shall, in the absence of manifest error, be conclusive evidence of the Request and/or the Service and all transactions relating thereto and shall not be subject to challenge by the Customer and/or the Nominated User on any ground, whatsoever.

6.4 The Customer shall be deemed to have unconditionally accepted and shall not subsequently challenge or object to any of the transactions in respect of a Request and/or Service contained in any statement of account issued by the Bank to the Customer in respect of a Request and/or the Service unless the Customer objects to the Bank in writing in respect of the said transactions as contained in the said statement of account within 15 days from the date the said statement of account is issued or deemed to have been issued by the Bank to the Customer.

7.1 The Customer shall pay to the Bank an initial set up fee and a monthly subscription fee for the Service in addition to transaction charges applicable to various transaction types in respect of the Service as advised by the Bank from time to time. The Bank may in its sole discretion revise these charges and fees after giving the Customer thirty (30) days notice of such revision. The Bank may also in its sole discretion waive the initial set up fees and/or the monthly subscription fees or a portion thereof.

7.2 The Customer shall pay any tax chargeable upon any sums payable by the Customer to the Bank and also any other charges or duties levied on the Customer or the Bank by any governmental or statutory body relating to the provision of the Service.

7.3 The Bank is hereby irrevocably authorised from time to time to debit any amounts payable by the Customer under the provisions of subparagraphs 7.1 and/or 7.2 to any Bank Account in any currency. In addition to the fees payable under the Terms and Conditions Governing the Use of I&M Next Generation Banking Facility, the charges and fees applicable to the Customer’s Bank Account(s) shall also apply.

8.1 Circumstances not within the Bank’s control.

The Bank shall not be responsible or liable for any loss suffered by the Customer and /or the Nominated User should the Service be interfered with or be unavailable by reason of

(a) any industrial action, (b) the failure of any of the Customer’s Facilities or (c) any other circumstances whatsoever not reasonably within the Bank’s control including, without limitation, force majeure or error, interruption, delay or non-availability of the System, terrorist or any enemy action equipment failure, loss of power, adverse weather or atmospheric conditions, and failure of any public or private telecommunications system.

8.2 Electronic Bill Payments and Transfer of Funds.

(a) the Bank shall not be liable for any losses or damage suffered by the Customer and/or the Nominated User as a result of delay, failure and/or refusal by the Bank to act on a Request in time or at all in anyone or more of the following circumstances (as the case may be):

(i) if the Customer does not have a sufficient amount in the Deposit Account in terms of the provisions of paragraph 5 above;

(ii) if the Customer and/or Nominated User does not authorize a bill payment in good enough time for the payment to be made and properly credited by the payee (the Customer’s counter-party) by the time it is due;

(iii) if the System or the Facilities are not fully functional;

(iv) if circumstances beyond the Bank’s control including those specified in sub paragraph 8.1 above prevent the Bank from making a payment or transfer;

(v) if the amount in the Deposit Account is subject to legal process court order or other encumbrance restricting the payment or transfer;

(vi) if the Customer and/or Nominated User does not give proper or complete instructions for the payment or transfer or the Customer and/or the Nominated User does not follow the procedures in these Terms And Conditions Governing The Use of I&M Next Generation Banking Facility or other applicable agreement with the Bank in respect of a request for a payment or a transfer;

(vii) if the Bank has reason to believe that the Customer and/or the Nominated User and/or any other party is using the Service for fraudulent or illegal purposes;

(viii) if a payment or a transfer request would be in respect of an amount deposited in a form or by a method that has not yet made the said amount available for withdrawal; and

(ix) if the payment or transfer request is in contradiction or conflict with other existing agreements in respect of the Bank Accounts.

(b) if the Bank makes a timely payment or transfer but the payee nevertheless fails to credit the Customer’s payment promptly after receipt, the Bank shall not be liable for any loss or damage suffered by the Customer and/or the Nominated User as a result of such failure on the part of the payee

(a) the Customer shall indemnify and keep the Bank harmless on a full and unqualified indemnity basis against all and any costs (including legal costs), claims, actions, proceedings, losses, damage, demands, liabilities, and expenses whatsoever suffered sustained or incurred by the Bank in connection with or arising from (a),

(b) and/or (c) of subparagraph 8.1 where the particular circumstance is within the Customer’s and/or Nominated User’s control and against all and any costs (including legal costs), claims, actions, proceedings, losses, damage, demands, liabilities, and expenses suffered or incurred by the Bank as a consequence of any breach by the Customer and/or the Nominated User of any term or condition hereof.

(b) the Customer shall indemnify and keep the Bank harmless against any demands, claims, actions, losses, damages, costs or expenses whatsoever which the Bank may at any time incur, sustain or suffer as a result of provision of the Service unless such demands, claims, actions, losses, damages, or costs arose as a direct consequence of the gross negligence or wilful misconduct of the Bank or any of its employees.

(i) all demands, claims, actions, losses and damages of whatever nature which may be brought against the Bank or which it may suffer sustain or incur arising from the Bank’s reliance on any incorrect, illegible, incomplete or inaccurate information or data contained in any Request;

(ii) any loss or damage that may arise from the Customer’s and/or the Nominated User’s use, misuse, abuse or possession of any third party software, including without limitation, any operating system, browser software or any other software packages or programs;

(iii) any unauthorised access to the Bank Accounts or any breach of security or any destruction or accessing of the Customer’s data or any destruction or theft of or damage to any of the Customer’s Facilities;

(iv) any loss or damage occasioned by the failure by the Customer and/or the Nominated User to adhere to any terms and conditions applicable to the Service and/or by supplying of incorrect information or loss or damage occasioned by the failure or unavailability of third party facilities or systems or the inability of a third party to process a transaction.

8.4 If for any reason other than a reason mentioned in subparagraph 8.1 the Service is interfered with or unavailable, the Bank’s sole liability in respect thereof shall be to re-establish the Service as soon as reasonably practicable or, at the Bank’s option, to provide to the Customer alternative banking facilities which need not be electronic facilities.

8.5 Save as provided in subparagraph 8.4, the Bank shall not be liable to the Customer and / or the Nominated User for any interference with or unavailability of the Service, howsoever caused.

8.6 Under no circumstances shall the Bank be liable to the Customer and/or the Nominated User for any loss of profit or anticipated savings or for any indirect or consequential loss of whatever kind, howsoever caused, arising out of or in connection with the Service.

8.7 Except in respect of death or personal injury caused by the gross negligence or wilful misconduct of the Bank, the Bank shall be under no liability for any claim whatsoever in respect of these Terms and Conditions Governing The Use of I&M Next Generation Banking Facility or their performance thereof or any transactions effected by the Bank in response to any Request unless the Bank has received notice in writing of any such claim from the Customer as follows:

(a) in the case of any claim relating to a transaction, within thirty (30) days from the date of the alleged transaction on which such claim is based; and

(b) in all other cases within ninety (90) days of the date of the alleged action or inaction by the Bank on which such claim is based.

8.8 To the extent permitted by law, the Bank:

(a) disclaims all warranties with respect to the System and Service, either express or implied, including but not limited to any implied warranties relating to quality, fitness for any particular purpose or ability to achieve a certain result; and

(b) makes no warranty that the System is error free or that its use shall be uninterrupted and the Customer acknowledges and agrees that the existence of such errors shall not constitute a breach of these Terms and Conditions Governing The Use of I&M Next Generation Banking Facility.

10.1 Notwithstanding anything contained in these Terms and Conditions Governing The Use of I&M Next Generation Banking Facility, the Service may be terminated at any time by either the Bank or the Customer giving the other one calendar month’s notice, PROVIDED that in the event of any change in any law or the application thereof, or any other event which, in the judgment of the Bank, would have the effect of prejudicing the Bank should it continue with the rendering of the Service to the Customer, the Bank shall be entitled to terminate the Service at any time without notice to the Customer.

10.2 If the Customer terminates the Service, the Bank may continue to make electronic bill payments, transfer of funds and other transactions that the Customer would have previously authorized until such time as the Bank shall have had a reasonable opportunity to act on the Customer’s notice of termination.

10.3 The termination of the Service shall not, in itself, terminate or affect the relationship of Banker and Customer between the Bank and the Customer.

10.4 Paragraphs 8, 11.3, 11.6 and 12 and shall survive termination of the Service.

11.1 The Customer shall not assign any benefit or any rights arising hereunder without the prior written consent or confirmation from the Bank.

11.2 No waiver by the Bank of any breach by the Customer and/or the Nominated User of any of these Terms and Conditions Governing the Use of I&M Next Generation Banking Facility shall be effective unless it is an express waiver in writing of such breach. No waiver of any such breach shall waive any subsequent breach by the Customer and/or the Nominated User.

11.3 The Customer acknowledges:

(a) that they have not relied upon any representation, warranty, promise, statement of opinion or other inducement made or given by or on behalf of or purportedly by or on behalf of the Bank in Subscription; and that

(b) no person has or has had authority on behalf of the Bank whether before, on or after Subscription to make or give any such representation, warranty, promise, statement of opinion or other inducement to the Customer or to enter into any collateral or side agreement of any kind with the Customer in connection with the Service.

11.4 These Terms and Conditions Governing The Use of I&M Next Generation Banking Facility hereof supersede all prior agreements, arrangements and understandings between the parties and constitute the entire agreement between the parties relating to the subject matter hereof. For the avoidance of doubt, nothing herein shall vary, discharge or in any other way affect or prejudice any security granted by the Customer or any third party in favour of the Bank in relation to any obligations of the Customer which may arise if any Request from the Customer hereunder is acted upon by the Bank.

11.5 Each of the provisions of these Terms and Conditions Governing the Use of I&M Next Generation Banking Facility is severable and distinct from the others. If at any time any of the Next Generation Terms or Conditions hereof is or becomes illegal, invalid or unenforceable in any respect, neither the legality, validity nor shall enforceability of the remaining Terms and Conditions Governing the Use of I&M Next Generation Banking Facility in any way be affected or impaired thereby.

11.6 Any notice required to be given in writing under these Terms and Conditions Governing the Use of I&M Next Generation Banking Facility shall be sufficiently served if sent by registered post, stamped and properly addressed:

(a) to the Manager of the Branch or of the Bank at the postal address of the Branch or the Bank, if to be served on the Bank; or

(b) to the Customer at the address as recorded with the Bank with respect to the Bank Account, if to be served on the Customer; and shall be deemed to have been served five Banking Days after posting.

12.1 The Customer undertakes to maintain strict confidentiality of their Mobile Banking PIN and any other information and materials of any nature supplied to them by the Bank in relation to the Service. The Customer agrees to notify their agents, employees and/or sub-contractors of the provisions of this paragraph and to impose this confidentiality requirement on their agents, employees and/or sub-contractors by entering into separate agreements, if necessary. The Customer shall be fully liable to the Bank for any breach of the provisions of this paragraph by themselves, their employees, agents and/or sub- contractors.

12.2 The Customer hereby agrees that, if necessary for the provision of the Service, the Bank may disclose information about the Customer to any member of the Bank’s Associates or the Customer’s Associates.

12.3 The Customer further agrees that the Bank may disclose information about the Customer to third parties’ in the following circumstances: –

(a) where such disclosure is necessary in order for the Bank to act on a Request;

(b) in order to comply with any law regulation, court order and/or contractual obligation of the Bank. If the Bank has to obey an order for information from an authorised government body, the Bank shall, to the extent required by law, notify the Customer before giving out the information;

(c) disclosure to the Bank’s agents, sub-contractors, auditors, attorneys and other professional service providers to the extent required in the normal course of their duties;

(d) disclosure to a licensed credit reference agency the services of whom the Bank may have subscribed to;

(e) if it involves a claim by or against the Bank in respect of an item deposited or drawn against the Bank Account; and

(f) if the Customer authorises the disclosure.

13.1 The Customer acknowledges that the intellectual property rights in the System (and any amendments or enhancements thereto from time to time) and all associated documentation that the Bank provides to the Customer through the System or otherwise are vested either in the Bank or in other persons from whom the Bank has a right to use and to sub-license the System and/or the said documentation. The Customer shall not infringe any such intellectual property rights.

13.2 The Customer shall not duplicate, reproduce or in any way tamper with the System and associated documentation without the prior written consent of the Bank.

14.1 These Terms and Conditions shall be governed by and shall be construed according to the Laws of the Republic of Kenya.

14.2 In the event that any claim or dispute arises out of or in connection with this Agreement, the parties shall, following service of written notice by one party on the other, attempt to resolve amicably by way of good faith negotiations and discussions any such dispute or claim as soon as reasonably practicable (and in any event within 14 calendar days after such notice or by such later date as the parties may otherwise agree in writing). Failing this, any dispute arising out of or in connection with this Agreement shall be referred to arbitration by a single arbitrator to be appointed by mutual Agreement between the Parties or in default of such Agreement within fourteen (14) days of the notification of a dispute, upon the application of either Party, by the Chairman for the time being of the Kenya Branch of the Chartered Institute of Arbitrators of the United Kingdom. Such arbitration shall be conducted in Nairobi in accordance with the Rules of Arbitration of the said Institute and subject to and in accordance with the provisions of the Arbitration Act 1995.

14.3 The Bank and the Customer hereby submit to the non-exclusive jurisdiction of the Courts of Kenya and the Bank shall be at liberty to enforce anywhere a judgment in any jurisdiction where the Customer carries on business or has any asset.

Nothing in this Agreement is intended to, or shall operate to, create a partnership between the parties, or to authorise either party to act as agent for the other, and neither party shall have authority to act in the name or on behalf of or otherwise to bind the other in any way (including the making of any representation or warranty, the assumption of any obligation or liability and the exercise of any right or power).

If any provision of this Agreement (or part of any provision) is found by any Kenyan court to be invalid, illegal or unenforceable, that provision or part-provision shall, to the extent required, be deemed not to form part of the Agreement, and the validity and enforceability of the other provisions of the Agreement shall not be affected

Thematic Campaign Terms and Conditions

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Car Finance Terms and Conditions

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Carrefour & Mastercard Campaign Terms and Conditions

I&M Bank, Carrefour & Mastercard Campaign Terms and Conditions

CDSC Accounts I&M General Terms and Conditions

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Collections Service Terms and Conditions

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Credit Card Application General Terms and Conditions

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Deposit Contracts Terms and Conditions

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Digital Overdraft

I&M Bank Mastercard Kenya Airways Campaign

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Double Cash Back Campaign (Mahali Uko Tuko!)

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TERMS AND CONDITIONS FOR BUY NOW PAY LATER (BNPL) LOAN FACILITY

I&M Bank, Carrefour & Mastercard Campaign Terms and Conditions

General Terms and Conditions

1. Definitions

2. Eligibility

3. Customer’s Address

4. Customer’s Name

5. Customer Information

6. Customer’s Instruction

7. Specimen Signatures

8. Deposits and Credits

9. Payment of cash

10. Withdrawal and Payments

11. Simultaneous order of funds

12. Bank Charges and Expenses

13. Statements of Account

14. Standing Orders / Direct Debits

15. Accounting and Transmission Errors

16. Interest

17. Credit Facilities extended by the bank to the customer

18. Repayment of overdrawn Accounts

19. Banks’ Lien

20. Banks Right Of Set-Of

21. Variation of relationship & closure of the account

22. Freezing the account

23. Chequebooks

24. Joint Account

25.Fixed Deposits

26. Foreign Currency Accounts

27. Dormant Accounts

28. Deductions

29. Complaints

30. Liability

31. Validity of Documents

32. Communications

33. Indulgences

34. Confidentiality

35. Data Protection

36. Assignment

37. Interpretation

38. Variation

39. Indemnity

40. Force Majeure

41. Governing Law

General Terms and Conditions for Unsecured Personal Loans

1. TERMS AND CONDITIONS

2. SECURITY

3. PURPOSE

4. CONDITIONS PRECEDENT

5. AMOUNT OF THE FACILITY AND REPAYMENT

6. CHARGES AND INTEREST

7. INTEREST ON EXCESS AND ARREARS

8. EXPENSES

9. PAYMENTS

10. INSURANCE

11. CURRENCIES