LIABILITY OF THE CARDHOLDER FOR UNAUTHOR- IZED TRANSACTIONS THROUGH THE CARD
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.