What are you looking for?

Find out more about our products. Visit any I&M Bank Branch, Contact us through +250 788 162 006 or email [email protected]

Terms and Conditions

See below all Terms and Conditions

Anti Bribery and Corruption Statement

I&M Bank (Rwanda) Plc shall not request bribes, kickbacks, or facilitation/speed payments (“corrupt payments”), either directly or via third parties, in any circumstances.

We take a zero-tolerance approach to bribery and corruption, and we are committed to acting professionally, fairly, and with integrity in all our relationships and business dealings wherever the Bank operates and to implementing and enforcing effective systems to counter bribery and corruption.

All our directors, officers and employees are prohibited from taking bribes- accept a payment, gift, or hospitality from a third party, offered or provided with an expectation that a business advantage will be provided by the Bank in return.

Credit Card Application General Terms and Conditions

a) The Bank shall not be liable if it is unable to perform its obligations under this Agreement due (directly or indirectly) to the failure of any machine, data processing system or transmissions link or to industrial dispute, strikes, lock outs, acts of any public enemy, wars, blockades, insurrections, riots, epidemics, landslides, lighting, earthquakes, fires, storms, flood, civil disturbances, terrorism, governmental regulations and directions and anything outside the direct control of the Bank, its agents or sub-contractors.

If the Bank is unable to produce or send a statement in respect of the Card Account, the Principal Cardholder’s liability for the late payment charges shall continue for the purpose of calculating such charge, and in establishing the date on which payment is due, the Bank may select a date in each calendar month as the statement date.

b) The Bank shall not be liable, responsible or accountable in anyway whatsoever for any loss, injury or damage whatsoever arising from the use of any ATM and the Principal Cardholder agrees to indemnify the Bank against all losses, costs, charges and expenses which the Bank may suffer or incur directly or indirectly arising form the use by any Cardholder of an ATM or any breach of this agreement by any Cardholder.

c) The Principal Cardholder shall immediately notify the Manager, Card Centre, I&M Bank, P. O. Box 30238, 00100 GPO, Nairobi, Rwanda in writing on any change of name or address. Any notice or correspondence sent by the Bank or its advocates to the Cardholder at the address last notified to the Bank by the Cardholder shall be deemed duly served.

d) The use of the Card is subject to the rules and regulations of Visa.

e) The Bank may demand at its discretion any amounts due on the Card Account if there is any breach of the Agreement herein by the Principal Cardholder or any Supplementary Cardholder.

f) Any other facilities or benefits made available to Cardholders as such and not forming part of this Agreement may be withdrawn at any time without notice.

g) The Cardholder warrants the complete accuracy of the information given upon the application for establishing the Card Account and any subsequent communication with the Bank.

h) The Cardholder hereby gives consent to the Bank to make inquiries regarding the credit standing, past credit history with any other credit rating agency or credit issuing institution (including other credit card companies) as the Bank deems necessary.

i) The Cardholder hereby gives consent to the Bank to make inquiries regarding the verification of any information that has been provided by the Cardholder in the I&M Bank International Visa Credit Card Application Form.

j) The Cardholder hereby gives consent to the Bank to provide information regarding the credit standing, past credit history etc of the Cardholder in response to queries by any other credit rating agency or credit issuing institution (including other credit card companies), at the Bank’s discretion.

k) The Cardholder shall not make any payment to any person except the Bank in respect of goods or services with the use of the Card.

l) The Bank may assign its rights and benefits under this Agreement at any time.

m) This Agreement shall be governed in all respects by the laws of Rwanda and the parties submit to the exclusive jurisdiction of the Rwanda courts.

a) If the Cardholder or anyone authorized to use the Card provides a mandate, whether such comprises a signed coupon, subscription voucher or telephone instruction or requests a cash advance or gives the card number to make a purchase or obtain a cash advance, without presenting the Card (such as for mail order, telephone order or Internet), the legal effect shall be the same as if the Card was used by the Cardholder and a sales voucher or other document or cash advance voucher was signed by the Cardholder.

b) The Bank shall debit the Card Account with the amount of all Card Transactions and the Cardholder will be liable to pay the Bank all the amounts so debited whether or not such a voucher or other document is signed by the Cardholder and irrespective of any rights or obligations as between the merchant and the Cardholder.

a) The Principal Cardholder is liable to the Bank for all indebtedness incurred by any person Authorised by such Cardholder together with all the applicable charges and interest.

b) The Principal Cardholder’s liability to the Bank with each Authorised User shall be joint and several for all indebtedness.

a) Internet transactions are not always secure. It is the Cardholder’s responsibility to ensure that any Internet transaction is made on a secure site.

b) The Bank will not take any responsibility for any misuse of a Card as a result of the customer quoting their Card number over the Internet.

c) This Card must NOT be used to fund any acts of terrorism, for money laundering purposes, fraud, or any other illegal activities.

a) The Cardholder must be fully familiar and comply with all the applicable exchange control regulations when the Card is used outside the money area of the Republic of Rwanda.

b) Card transactions made in foreign currencies, will be shown on the statement in Rwanda Shillings and is payable in Rwanda currency converted at the exchange rate charged to the bank on conversion by Visa plus a percentage on the converted amount of the value of the foreign transaction and which percentage can vary from time to time. This rate may not be the rate in effect on the date of the transaction.

a) The Bank incurs no liability to the Cardholder if any merchant denies or fails to honour the Card or if there is dispute as to the nature, quality of any goods or service acquired from the merchant it being acknowledged that no merchant is an agent of the Bank.

b) All claims including any right of set-off by the Cardholder and any dispute regarding any sales voucher or credit voucher or any transaction involving Card or other use of the Card Account shall be settled directly between the merchant and the Cardholder and shall have no effect on the indebtedness.

c) The Bank incurs no liability to the Card holder for any malfunction of any ATM.

The Bank may vary this Agreement at any time or times whether or not similar variation is made to the agreement(s) with any other Cardholder(s). Subject to the requirements of statute (if any), a 30 days’ notice of such variation shall be given to the Principal Cardholder either in writing, by publication or any such means as the Bank may select and any such variation shall be binding on the Cardholder.

a) The Bank may issue cards for use by any natural person nominated by the Principal Cardholder as Authorised User/Supplementary Cardholder on the Card Account. The Principal Cardholder shall be liable for all amounts arising from, or losses incurred by the Bank in connection with the use of the Card by an Authorised User (including any use in breach of this Agreement which the Bank shall be under no responsibility to prevent), which shall be debited to the Card Account. In addition to its other powers, the Bank shall cancel any Authorised User’s Card at any time upon the request in writing of the Principal Cardholder and the return of such Card to the Bank, or upon the surrender of such Card to the Bank by the Authorised User shall remain the sole responsibility of the Principal Cardholder.

a) The Card Account will only be credited with a refund in respect of a Card Transaction if the Bank receives a refund voucher or other refund verification acceptable to it. No claim by the Cardholder against a third party may be subject of a defence or counterclaim against the Bank. No rights of the Cardholder against the Bank may be assigned or otherwise disposed of.

b) No Cardholder shall return for cash refund any goods and tickets for services obtained with the Card. Any such refund must be credited only through the Card Account.

a) The Cardholder will exercise all care necessary to ensure the safety of the Card and the secrecy of the PIN at all times. The Principal Cardholder may reveal the PIN only to an Authorised User.

b) A Cardholder shall not allow any other person to use the Card with or without the knowledge of the PIN.

c) A Cardholder should never write the PIN on the Card or anything usually kept with it.

d) It is a Cardholder’s duty to safeguard his/her Card with the same intensity they would apply for cash.

e) If the Card is lost, stolen or is for any other reason liable to misuse or the PIN has been disclosed to anyone other than an Authorised User, the Cardholder must immediately notify the Card Center, directly by telephone number 3221111 or 246552-9 Nairobi and such notification must be confirmed in writing immediately either by post or fax to the Manager, I&M Bank, Card Center, P. O Box 30238, 00100 Nairobi.

f) Until the Bank receives the formal notification, the Principal Cardholder will be liable in respect of any misuse of the Card.

g) The Cardholder will give the Bank all the information in the Cardholder’s possession as to the circumstances of the loss, theft or misuse of the Card or disclosure of the PIN and take all steps deemed necessary by the Bank to assist in the recovery of the missing Card. In the event of any such loss, theft or misuse being suspected, the Bank may provide the police with any information it considers relevant. If a Card is reported as lost, stolen or liable for misuse, that Card must not subsequently be used but must be cut in half and returned immediately to the Manager, Card Center, P.O. Box 30238, 00100 GPO, Nairobi.

Either party to this Agreement may seek to terminate the same as follows:

a) The Principal Cardholder may terminate this Agreement by written notice to the Bank but such termination shall only be effective on the return to the Bank of all Cards issued for use on the Card Account, and the payment of liabilities of the Principal Cardholder under this Agreement settled in full. Until such termination, the Bank may reissue Cards from time to time for use in accordance with this Agreement.

b) Notwithstanding any other provision, all indebtedness shall at the Bank’s option, and without notice or demand being given, be immediately due and payable and the Bank may cancel this Agreement without notice in the event of:

10.1 The death of any Cardholder.

10.2 Insolvency of any Cardholder or failure by the Cardholder to pay any indebtedness hereunder or any other obligation of the Cardholder.

10.3 The institution of Garnishee, criminal proceedings, bankruptcy proceedings, attachment or execution proceedings involving any Cardholder or Authorised User.

10.4 A breach or default of any provision of this Agreement. The Cardholder shall be liable for all legal fees and expenses incurred by the Bank including the attorney’s collection commission.

a) The Bank may at any time and without notice cancel or suspend the right to use any card entirely or in respect of specific facilities or refuse to re-issue, renew or replace any Card, without in any case affecting the Principal Cardholder’s obligations under this Agreement which shall continue in force.

b) The decision of the Bank with respect to suspension (temporary of permanent), withdrawal or limitation of usage including reducing Credit Limit, will be at the Bank’s sole discretion at its own judgement.

c) The Card remains the property of the Bank at all times. On request, all or any Card issued for use on the Card Account must be returned immediately to the Bank or to any other person acting for the Bank. The Bank shall notify the Cardholder the particulars of any such other person.

d) The Principal Cardholder shall be liable for all expenses incurred by the Bank in reclaiming a cancelled Card.

a) The Cardholder may use the Card together with such Cardholder’s Personal Identification Number (PIN) to execute a transaction at any ATM or terminals designated by the Bank. If the Cardholders has selected such PIN, all security procedures as described herein apply to each transaction executed by the Cardholder who must exercise all necessary precautions against loss or theft of the Card or disclosure of the PIN.

a) The following charges are payable in respect of the use of the Card and shall be debited by the Bank to the Card Account as follows:

A one-off joining fees on issuance of the Card.
An annual subscription fees on issuance of the card and on every subsequent annual renewal date.
A cash advance charge on the amount of any cash advance debited to the Card Account.
A card replacement fees in case a card is lost or damaged.

b) The Bank will inform the Card Holder of the applicable joining fees, annual subscription fees, cash advance charge, card replacement fees as described above, at the time of issuance of the Card. Subsequently, the Bank reserves the right to revise (including waiving or addition of any other charges) any of the above at anytime without prior notice. Any such change will be informed by the Bank to the Card Holder on the statement or such other means as the Bank shall find appropriate and in providing such information it shall be enough for the Bank to produce a copy of the statement containing such information or the means by which the change was informed.

a) All amounts charged to the Principal Cardholder’s account are due in full within a specified number of days (called a Credit Period), as is determined by the Bank at its discretion from time to time, from the Statement date (this payment due date is called the Due Date). The Principal Cardholder may however as a credit cardholder choose to pay the Minimum Payment (this will be a specified percentage of the amount of card transactions plus full amount of interest, other charges and fees due as on the Statement date) shown on the Statement and revolve the balance (Revolved Amount) to the next month.

b) If the Principal Cardholder shall repay the whole balance outstanding on a Statement before or by the Due Date, no interest shall be charged on any item appearing on the Statement.

c) If a Principal Cardholder pays at least the Minimum Amount by the Due Date and chooses to revolve a part or full amount of the Revolved Amount (i.e. outstanding balance minus Minimum Amount), interest will be charged on the full amount of Revolved Amount from Transaction Date to Due Date & on daily outstanding balance of Revolved Amount due from Due Date to next Statement Date at the specified Revolving Credit Interest Rate.

For the purposes of interest calculation, payments made by the cardholder will first be offset against interest, fees and charges and oldest dated transaction amounts in descending order respectively.

d) It the Principal Card Holder fails to pay at least the Minimum Payment as shown in the Statement by the Due Date, a late payment penalty will be levied on the outstanding Minimum Payment amount on Due Date at a specified flat Late Payment Penalty Rate and will be added on the Statement for the subsequent month. This is in addition to the interest payable on outstanding balance calculated as per clause 6 (c) above on outstanding balance.

e) In case a Card Holder is overdrawn beyond the Credit Limit as on any day, an overlimit charge calculated as a flat Overlimit Charge Rate percentage on the maximum amount overdrawn on any particular day will be levied and added on the Statement for the subsequent month.

f) Payment on any account will take effect when received by the Bank and credited to the Principal Cardholder’s account. If the payment is made by cheque it will take effect when cleared by the respective bank.

g) A flat Handling Fee will be charged if a cheque or other remittance is not honoured on first presentation.

h) The amount of any excess over the Credit Limit, any arrears and any Card Transactions made in breach of this agreement will be immediately payable in full whether or not demanded by the Bank.

i) Non-receipt of the Statement by the Principal Cardholder does not discharge the obligations to pay all the amounts due on the Card Account.

j) The Principal Cardholder may not be entitled to interest on any credit balance there may be on the Card Account.

k) The Bank will inform the Card Holder of the applicable Credit Period, Minimum Payment, Revolving Credit Interest Rate, Late Payment Interest Rate, Overlimit Charge Rate and Handling Fee as described above, at the time of issuance of the Card. Subsequently, the Bank reserves the right to revise any of the above at anytime without prior notice, including the manner in which they are calculated. Any such change will be informed by the Bank to the Card Holder on the Statement or such other means as the Bank shall find appropriate and in providing such information it shall be enough for the Bank to produce a copy of the Statement containing such information or the means by which the change was informed.

a) The Bank shall send monthly statements to the Cardholder, setting out the total debit or credit balance as the case may be on the Card Account as at statement’s date.

b) Any error or omission relating to such statement of accounts must be directed to the Bank by the Card Holder immediately upon receipt thereof. If no such enquiries are made within 21 days from the date of Statement, it shall be deemed accurate and conclusive record of accounts.

a) The Bank will debit the Card Account with the amounts of all Card Transactions and charges and any other liabilities of the Cardholder arising form the use of the Card. The Principal Cardholder will pay to the Bank all amounts so debited whether or not the Cardholder signs a sale or cash advance voucher.

The Card must be signed by the Cardholder immediately on receipt and may only be used:-

a) By that Cardholder;

b) Subject to the terms of this Agreement current at the time of use;

c) To obtain the facilities and benefits from time to time made available by the Bank in respect of the use of the Card;

d) During the validity period embossed on the Card;

e) Subject to the right of the Bank in its absolute discretion and without prior notice, at any time to withdraw the right to use the Card for, or to refuse any request for authorization of, any particular Card Transaction and to publish any such withdrawal or refusal;

f) Within the Credit Limit. In deciding whether this has been exceeded, the Bank may take into consideration the amount of any Card Transaction not yet debited and any authorisation given by the Bank in respect of any prospective Card Transaction;

g) To obtain cash advances from the Bank or an ATM within a cash advance limit as shall be determined by the Bank and notified to the Principal Cardholder from time to time which shall form part of the Credit Limit;

h) All Card Transactions, which take place in a currency other than Shillings and whether or not in Rwanda, will be converted from the currency in which the Card Transaction took place into Shillings at the Visa’s prevailing rate plus a margin imposed by the Bank as at the date of such conversion and shall be debited to the Card Account in Shillings;

i) The Card may be used worldwide for Card Transactions expressed in the currency of the country of purchase. The monthly statement will be billed in Shillings.

a) Before you sign the application form, please read this Agreement very carefully.

b) By signing the application form you formally agree to the terms of this Agreement and the issuance of the Card and use of it will be governed by it.

c) This agreement binds both the Principal Cardholder and any Supplementary Cardholder using the Principal Card Holder’s account, who will be liable for charges as set out in paragraph 6 & 7.

In these conditions

a) “Agreement” means the agreement between the Bank and the Cardholder, the Terms and Conditions of Use of I&M Bank International Visa Credit Card, as varied from time to time.

b) “ATM” means an Automated Teller Machine or Point-of-Sale machine operated by the Bank or any other member of Visa.

c) “Authorised User” means a person nominated under Condition 13 (a) to whom the Bank shall have issued a Card.

d) “Card” means the I&M Bank International Visa Credit Card issued to Cardholder.

e) “Cardholder” means any person to whom a Card is issued by the Bank.

f) “Card Account” means any Account maintained by the Bank in relation to Card Transaction.

g) “Card Transaction” means any payment made or cash advance obtained by the use of the Card, the Card number or in any manner authorized by a Cardholder for debit to the Card Account.

h) “Charges” means any fees or interest charged on the Card Account.

i) “Credit Limit” means the maximum debit balance permitted on the Card Account as determined by the Bank in its sole discretion and notified to the Principal Cardholder.

j) “Due Date” means the date of the statement referred to in Clause 6 (a) or as determined by the Bank pursuant to this Agreement.

k) “Rwanda” means the Republic of Rwanda..

l) “Principal Cardholder” means any person in whose name a Card Account is maintained pursuant to such person’s application for establishment of a Card Account.

m) “PIN” means any Personal Identification Number issued to a Cardholder.

n) “Shillings” means “Rwanda shillings’ in the currency of Rwanda.

o) “Statement” means the monthly statement referred to in Clause 5 (a).

p) “Supplementary Cardholder” means a person nominated under Condition 13 (a) to whom the Bank shall have issued a Card on instruction of the Principal Card Holder.

q) “The Bank” means I&M Bank Limited.

General Terms and Conditions

https://www.imbankgroup.com/rw/wp-content/uploads/sites/4/2024/10/Anti-Corruption-and-Fraud-Management-CommitmentNU-002.pdf

Anti-Corruption and Fraud Management Commitment

I&M Bank is committed to protecting your assets and maintaining integrity. We have implemented measures against corruption and mechanisms to prevent fraud, with transparent procedures for refunds where applicable. In the event of fraudulent activity or transaction, we thoroughly investigate the incident and commit to provide appropriate remedial actions within 15 days from the confirmation of the incident by competent organs. Report any misconduct anonymously via [email protected], +27315715307, or www.tip-offs.com.

Engagement Anti-Corruption et Gestion de la Fraude

I&M Bank s'engage à protéger vos biens et à maintenir l'intégrité. Nous avons mis en place des mesures contre la corruption et des mécanismes de prévention de la fraude, avec des procédures transparentes pour le remboursement si possible. En cas d'activité ou de transaction frauduleuse, nous enquêtons rigoureusement sur l'incident et nous nous engageons à mettre en place des mesures correctives appropriées dans un délai de 15 jours après la confirmation de l'incident par les organes compétents. Signalez anonymement toute inconduite via [email protected], +27315715307, ou www.tip-offs.com.

Ingamba zo Kurwanya Ruswa n’Uburiganya

I&M Bank yiyemeje kurinda imitungo yanyu no gusigasira ubunyangamugayo. Twashyizeho ingamba zo kurwanya ruswa no gukumira uburiganya, harimo n’uburyo bwo kwishyura iyo bibaye ngombwa,biciye mu mucyo. Mu gihe cy'uburiganya cyangwa ibikorwa bifitanye isano nabyo, dufata igihe cyo gukora iperereza ryimbitse kandi twiyemeza gufata ingamba zikwiye mu gihe kitarenze iminsi 15 kuva igihe icyaha cyemejwe n'inzego zishinzwe kubikurikirana. Ushobora gutanga amakuru ku myitwarire idahwitse, mu buryo bw’ibanga wandikira imeri [email protected] [email protected] , cyangwa ugahamagara +27315715307, cyangwa ugasura urubuga www.tip-offs.com.

CONSUMER PROTECTION GUIDELINES

COMPENSATON POLICY FRAMEWORK for I&M BANK

Introduction

At I&M Bank, we prioritize the trust and delight of our customers. We recognize that, at times, errors or negligence on our part may lead to financial losses for our customers. In such circumstances, our Compensation Policy is designed to provide a transparent process for addressing these incidents and compensating affected customers.

Eligibility for Compensation

Consumers who experience a monetary loss due to negligence by I&M Bank may claim compensation and submit all necessary supporting documentation that substantiates their claim.

Bais for Compensation Calculation

Compensation is computed based on the following factors:

Amount lost due to negligence: The direct financial loss occurred due to the bank’s negligence.
Opportunity cost lost: The potential income or benefits the consumer could have earned had the negligence not occurred.
Damage paid by the Financial Service Consumer: Any additional costs borne by the Consumer as a result of the bank’s negligence.

Compensation rate

* The total compensation payable to the consumer shall not exceed 16.29 of the total loss claimed.

* The minimum compensation amount will be guided by the average lending rate applicable at the time of the claim.

Claim process

To initiate a compensation claim, consumers must follow these steps:

Submit a Claim
Provide all supporting documents
Review period
Offer the compensation

Policy review

This compensation policy is subject to regular review and may be updated in accordance with changes in regulations.

POLICY ON SPECIAL TREATMENT FOR PEOPLE WITH DISABILITIES AND CONSUMERS WITH SPECIAL NEEDS

Introduction

At I&M Bank, we are committed to creating an inclusive environment that respects and supports all individuals, including people with disabilities and consumers with special needs. We recognize that different circumstances require considerations, and we strive to provide equitable access to our service for everyone.

Categories of Special treatment

I&M Bank is dedicated to offering tailored services and support for various categories of individuals with disabilities and consumers with special needs. Our special treatment may include the following categories:

Physical disabilities: Accessible facilities in place includes designated parking, wheelchair drawing, accessible ATMs.
Visual impairments, Hearing impairment, Mental health concerns or any other reason challenges: Our staff are trained to assist all categories of customers with disabilities.

Customer support contact information

For assistance or to request special service due to a disability or special need, customers can contact our dedicated staff at:

Phone
Email
In Person: Customer service staff available at each branch

COMPLAINT HANDLING PROCESS AT I&M BANK

Introduction

At I&M, we value feedback from our customers and recognize that complaints provides opportunities for improvement in our service. We aim to resolve complaints in a fair timely, and transparent manner.

Complaint Management Process

Our complaints Management is structured into 3 tiers, each with defined roles, responsibilities and timeframes for resolution:

Level	Definition	Standard time
Tier 1	All staff in direct contact with the customer, including customer service, call center, loan center	Maximum of 24 hours
Tier 2	Escalation points within the Bank including Team Leaders, supervisors, BMs	Maximum of 48 hours
Tier 3	Highest escalation within the bank, including Senior Management and Head of Various departments	Maximum of 72 hours

Turnaround time for complaint handling internally shall not exceed 7 days and the highest turnaround time is 13 days.

I&M Bank Rwanda Privacy Notice

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

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.

(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.

(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.

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) 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]).

(f) You acknowledge and agree that it is your sole choice and responsibility to protect your personal information shared on WhatsApp Banking. Poor management of personal information may expose you to risks associated with misuse. Always secure your mobile/device with a password & delete the account balance message to prevent misuse. Under no circumstances the Bank can be held liable for the above risks.

(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.

(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.

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) 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 may require that any complaint made by the Customer in relation to the Account be made in writing. The Bank shall act upon such complaint, as soon as is reasonably possible, after receipt of the complaint by the Bank.

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.

(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.

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.

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.

(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.

(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

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) the Bank has any reason to suspect that a fraud has been or is likely to be committed; or

(d) 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

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

(a) the Customer may, 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.

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) 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.

(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.

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) 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.

(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 Rwanda 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.

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 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 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 b

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.

(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.

(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) 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.

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 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

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.

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 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 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.

(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 Rwanda 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 Rwanda 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 Rwanda Shillings;

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

(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.

GENERAL TERMS AND CONDITIONS
I&M Bank Limited Rwanda 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”):

I&M Bank Debit Card Terms and Conditions

The Terms and Conditions shall be construed and the provision of the Card shall be regulated exclusively in accordance with the laws of the Republic of Rwanda and the Card Holder (and in case of a Card issued in respect of a joint Account all joint Account holders) agree to submit to the non-exclusive jurisdiction of the High Court of Rwanda.

(a) these Terms and Conditions may be amended, modified and/or replaced in whole or in part at any time by the Bank in its sole and absolute discretion. The Bank will give a 30 days’ notice to the Card Holder of any such amendments, modifications and/or replacements and;

(b) upon any such amendment, modification and/or replacement of these Terms and Conditions by the Bank any subsequent use of the Card shall be deemed to constitute acceptance of such amendments, modifications and/or replacements.

(a) the Bank shall bear no liability for inability to perform its obligations with regard to the ATM operations due to anything whatsoever outside the control of the Bank; and

(b) the Bank shall not be liable if it is unable to perform its obligations due (directly or indirectly) to but not limited to the failure of any machine, data processing system or transmissions link or to industrial dispute, strikes, lock outs, acts of any public enemy, wars, blockades, insurrections, riots, epidemics, landslides, lighting, earthquakes, fires, storms, flood, civil disturbances, terrorisms, governmental regulations and directions and anything outside the direct control of the Bank, its agents or sub contractors.

(a) a Card Holder (and in case of a Card issued in respect of a joint Account all joint Account holders jointly and severally) shall be fully liable in respect of each Transaction undertaken by the use of the Card. A Transaction must be carried out in such a way that any confidential information displayed on a POS Terminal is not disclosed to a third party. The Bank shall not be liable for any disclosure to any third party arising out of effecting of a Transaction;

(b) a Card Holder (and in case of a Card issued in respect of a joint Account any of the joint Account holders) shall not hold the Bank liable, responsible or accountable in any way whatsoever for any loss, injury or damage howsoever arising out of the use of an ATM including inability to make a cash withdrawal due to lack of funds at the ATM where the Transaction is being processed;

(c) the Bank shall not be liable for the refusal or inability of any Merchant Establishment, POS Terminal or ATM to accept or honour a Card or to complete a Transaction or for the retention of a Card by an ATM or POS Terminal; and

(d) the Bank shall not be liable for any loss incurred as a result of malfunction of an ATM or POS Terminal.

(a) a Card is not transferable and must not be used by any person other than by the Card Holder;

(b) a Card remains the property of the Bank and upon cancellation must be surrendered on demand to the Bank;

(c) an issued Card shall have a limited validity period, on expiry of which a new Card may be issued by the Bank at its sole and absolute discretion;

(d) the Card is neither a credit card nor a cheque guarantee card and the Card Holder shall not represent the Card as such;

(e) the Account may not be overdrawn by a Card Holder by effecting a Transaction;

(f) Cash or Cheques deposited in an ATM for credit to an Account shall be collected by the Bank and the proceeds shall not be available until the relevant funds have been received for value by the Bank;

(g) the execution of a Transaction shall be subject to any operating limitations mandated on the Account;

(h) the use of the Card is subject to the rules and regulations of the Shared Network Partners including VISA;

(i) the Card Holder hereby gives consent to the Bank to make inquiries regarding the verification of any information that has been provided by the Card holder in the Application Form; and

(j) the Bank may assign its rights and benefits at any time.

A Card Holder (and in case of a Card issued in respect of a joint Account all joint Account holders jointly and severally) shall be liable to indemnify the Bank (on a full and unqualified indemnity basis) in respect of any and all expenses incurred by the Bank in enforcing or attempting to enforce these Terms and Conditions or the recovery of any amounts due from a Card Holder to the Bank including all legal fees and court filing fees and disbursements.

(a) the daily cash withdrawal limit for a Card shall be in respect of the total daily cash withdrawals made from all the Accounts for the Card;

(b) where the Account is a joint Account and mandate is either or survivor to sign, upon completion and execution of the Application Form by each account holder of the joint Account, any of the joint Account holders may be issued with a Card in respect of the said joint Account; and

(c) where the Account is a joint Account and Cards are issued to more than one or all of the joint Account holders, each Card so issued shall be separately subject to the daily cash withdrawal limit.

The Card is valid up to the last working day of the month indicated on the Card. Terms and Conditions of use of the I&M Bank Limited Debit Card.

Any Government duties, rates, taxes or charges as and when levied by the Government or any other competent taxing authority in respect of any Transaction shall be payable by the Card Holder and debited by the Bank to the Account.

All Transactions undertaken using the Card shall appear in the monthly Account Statement, which Statement shall be subject to the General Terms & Conditions governing the Account.

The Card Holder may discontinue utilizing the Card and the debit card services provided by the Bank at any time by a written notice to the Bank accompanied by the return of the Card cut into two pieces. The Card Holder (and in case of a Card issued in respect of a joint Account all joint Account holders jointly and severally) shall be liable for all Transactions undertaken by the Card Holder and/or charges incurred up to the receipt, as duly acknowledged by the Bank, of the written notice of termination to the Bank. The Bank shall be entitled to discontinue the debit card services at any time by cancelling the Card without assigning any reason whatsoever upon issuance of 7 days notice, which notice shall be issued either by posting to the Card Holder’s address last notified in writing to the Bank or by electronic mail to the Card Holder’s electronic mail address as indicated in the Application Form. The notice shall be deemed to have been served upon the Card Holder 7 days after the date of posting or 7 days after the date of sending the electronic mail as the case may be. Upon termination either at the request of the Card Holder or by the Bank, the Bank shall not be required to refund any amounts to the Card Holder(and in case of a Card issued in respect of a joint Account any of the joint Account holders), whether in respect of prepaid fees or otherwise.

The Card issued to the Card Holder shall remain the property of the Bank and must be surrendered to the Bank on request. The Card Holder must return the Card to the Bank for cancellation in the event the Card Holder no longer wishes to utilize the Card or if the Bank for any reason whatsoever withdraws the services. The Card Holder must not use or attempt to use the Card after any notification of cancellation or withdrawal has been given. On receipt of a written request for replacement of a Card either damaged or lost the Bank after due verification may issue a replacement Card and debit the Account with the appropriate replacement fee applicable from time to time.

The Card Holder shall:

(a) not divulge the PIN to anyone including but not limited to another Card Holder, a family member or friend;

(b) take precaution to prevent anyone else seeing the PIN being entered in an ATM or POS Terminal;

(d) commit the PIN to memory and destroy any record thereof.

To enable the Card Holder to utilise the Card, a PIN shall be issued to the Card Holder. The PIN shall be mailed and/or personally delivered to the Card Holder on identification and the Card Holder shall ensure that the same is received in a sealed envelope. This PIN may subsequently be changed by the Card Holder at his/her own risk at any ATM that offers such a service. The security of the PIN is important and must be maintained by the Card Holder at all times.

The Card Holder (and in case of a Card issued in respect of a joint Account all joint Account holders jointly and severally) may incur liability for unauthorised use of the Card and any instruction given by means of the Card and the PIN, whether in conjunction or independently, may be deemed by the Bank at its sole and absolute discretion to be instructions given by the Card Holder. The Card Holder must ensure that s/he does not reveal the PIN to any third party and takes adequate precautions to prevent anyone else seeing his/her PIN being entered in at an ATM or POS Terminal. It is recommended that the Card Holder memorize his/her PIN and then destroy any record of it.

In respect of each Card Holder the Bank shall be entitled at its sole and absolute discretion to charge and debit from the Account such fees and charges as it may from time to time notify the Card Holder including but not limited to an initial Card issuance fee, a Card renewal and/or replacement fee, a service fee for an amount to be prescribed by the Bank from time to time for the use of the Card and a charge for undertaking such Transactions as may from time to time be specified by the Bank. Any failure however by the Bank to so notify the Card Holder shall not prejudice in any way howsoever the recovery by the Bank of such fees and charges from the Card Holder (and in case of a Card issued in respect of a joint Account any of the joint Account holders). If the Card is utilized at ATMs belonging to Shared Network Partners of the Bank, a service fee may be charged by the operator and/or an automated transfer network for undertaking the Transaction.

A Card Holder must exercise all due care and attention to ensure the safety of the Card and the secrecy of the PIN at all times and to prevent the loss of and/or use of the Card or PIN by any third party. Consequently, a Card Holder must not disclose their PIN to anyone in any circumstances. If a Card is lost or stolen or if a PIN is disclosed to any unauthorized person, the Card Holder must immediately notify the Bank of such loss, theft or disclosure. Any oral notification must be confirmed in writing immediately. The Card Holder (and in case of a Card issued in respect of a joint Account all joint Account holders jointly and severally) shall be liable in respect of any Transaction undertaken prior to receipt by the Bank of notification in writing of such loss, theft or disclosure of the Card or the PIN (as the case may be).

(a) the Card may be utilized at any Merchant Establishment. The Card is for electronic use only.

(b) once authenticated and approved, the Transaction is complete and a Transaction print out shall be generated at the POS Terminal for execution by the Card Holder.

(c) the Card Holder is also advised to check the Transaction details before taking delivery of the items purchased and/or services provided and leaving the counter of the Merchant Establishment.

(d) once the Card is swiped and verified and the Transaction approved, the Account shall be debited with the full value of the Transaction immediately.

(e) the Bank shall not accept responsibility for any arrangement or negotiations the Card Holder may have with the Merchant Establishment including but not limited to the nature or quality of the goods supplied and/or services provided or any representations or warranties made by the Merchant Establishment. Should the Card Holder have any complaint concerning any Merchant Establishment as to the merchantability or quality of goods supplied and/or services provided, such complaint shall be resolved by the Card Holder directly with the Merchant Establishment. Failure to do so however shall not relieve the Card Holder (and in case of a Card issued in respect of a joint Account all joint Account holders jointly and severally) of any obligations to the Bank. The Card Holder is also advised to notify the Bank of any grievances, complaints or disagreements with a Merchant Establishment immediately.

(f) the Bank does not accept any responsibility for a surcharge levied by any Merchant Establishment.

(g) in case a Card Holder wishes to reverse a completed Transaction due to an error or on account of return of merchandise by the Card Holder to the Merchant Establishment, the earlier sales receipt issued by the Merchant Establishment must be cancelled by the Merchant Establishment, and a copy of the cancelled receipt must be retained in the Card Holder’s possession. Reversal/refund of debits due to such Transactions shall be processed manually and shall only be made by the Bank upon the Bank’s receipt of:

(i) an appropriate refund from the Merchant Establishment, either directly or through the respective Shared Network Partner’s settlement process; and

(ii) the cancelled sales slip from the Card Holder.

(h) if the Card holder, or anyone authorised to use the Card, provides a mandate whether such comprises but is not limited to a signed coupon, subscription voucher or telephone instruction or gives the Card number to make a purchase or obtain cash advance, without presenting the Card (such as for mail order, telephone order or internet), the legal effect shall be the same as if the Card was used by the Card Holder and a sales voucher or any other document or cash advance voucher was signed by the Card Holder. The Bank shall debit the Card Account with the full amount of all Card transactions and the Card Holder will be liable to pay the Bank all the amounts so debited whether or not such a voucher or other document is signed by the Card Holder and irrespective of any rights or obligations as between the Merchant Establishment and the Card Holder.

(a) the Card may be utilized at any ATM for the following Transactions:

(i) to effect a debit to the Account by withdrawal of cash, any such debit being effected immediately;

(ii) to effect a credit to the Account by the deposit of cash or cheque, any such credit being effected either on the next working day (for cash deposit) or on the day of receipt of cleared funds (for cheque deposits);

(iii) to display the current balance of the Account on the ATM;

(iv) to give an account mini statement to the Card Holder;

(v) to order a cheque book or Statement relating to the Account; and

(vi) such other Transaction as may from time to time be made available by the Bank to the Card Holder including top-up of mobile phone airtime and transfer of funds between accounts.

(b) all withdrawals of cash from ATMs for each Card shall be subject to the daily cash withdrawal limit as notified from time to time by the Bank as well as subject to sufficient funds being held in the Account. The Card Holder agrees not to attempt to effect a withdrawal of cash unless a sufficient balance of funds is available in the Account. The onus of ensuring an adequate Account balance is entirely on the Card Holder.

(c) the Bank may, at its discretion, reserve a certain minimum amount to be maintained in the Account, below which a withdrawal Transaction will not be allowed, even if sufficient funds are available in the Account to allow the Transaction.

(d) in the absence of manifest error the Bank’s records as to any Transaction or its consequences shall be conclusive.

(e) when a Card Holder completes a Transaction through an ATM, s/he can opt to receive a printed Transaction record. However, for all cash/cheque deposit transactions at the ATM the Card Holder agrees that no receipt shall be issued by the ATM other than an acknowledgement of receipt of a cheque or envelope as the case may be and without express reference to the amount deposited.

(f) all cash and cheque deposits shall be subject to verification by the Bank and such verified amount shall be binding on the Card Holder.

(g) the Card Holder agrees that requests on the ATM such as cheque book requisitions shall be processed on the next working day.

(h) the Card Holder is advised to retain the record of a Transaction generated by the ATM.

(a) “Account” means in relation to a Card any account(s) held by the Card Holder with the Bank, either solely in the name of the Card Holder or jointly with other account holders, designated by the Bank at the request of the Card Holder to be the eligible account(s) for effecting a Transaction for the Card and to which all amounts due from the Card Holder for the Card are to be debited provided that where the Account is a joint account(s) all the Account holders of the joint account(s) must complete and execute the Application Form;

(b) “Application Form” means the Application Form for the Card or the request made in the Application completed by the Customer in respect to the establishment and operation of an Account;

(c) “ATM” means any Automated Teller Machine whether in Rwanda or elsewhere of the Bank or of a specified Shared Network Partner of the Bank including the VISA network, at which the Card Holder can effect a Transaction;

(d) “Bank” means I&M Bank Limited;

(e) “Card” means the Visa Electron Debit Card issued by the Bank at the request of and in the name of the Card Holder for use in connection with debit card services provided by the Bank;

(f) “Card Holder” means a person (being an individual or a body corporate) to whom a Card has been issued and whose name appears on it;

(g) “Merchant Establishment” means an establishment wherever located which accepts the Card and shall include but not be limited to stores, shops restaurants, hotels or airline organisations which display the Bank’s logo or a Shared Network Partner’s logo including any VISA branded logo, as a sign of acceptance of the Card and at which a POS Terminal has been installed;

(h) “PIN” means in relation to a Card Holder, the personal identification number required to gain access via an ATM or POS Terminal to effect a Transaction;

(i) “POS Terminal” means a point of sales terminal installed at a Merchant Establishment capable of processing a Transaction;

(j) “Shared Network Partner” means any body with which the Bank enters into an arrangement by which Card Holders of the Bank can effect Transactions on ATMs and/or POS Terminals owned by or affiliated to the body; and

(k) “Transaction” means any transaction effected by use of the Card in accordance with these Terms and Conditions.

I&M Multicurrency Prepaid Card Terms and Conditions

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 reserve 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 non-performance 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.

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 reserve 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 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 Rwanda (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 Rwanda 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 Limited. 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 Rwanda 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, and regulations of Rwanda or such other country occasioned by use of the Card outside Rwanda. 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 Rwanda 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 reserve 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:

(i) failure to adhere to or comply with terms and conditions herein

(ii) 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; v (iii) the Cardholder becoming subject to any bankruptcy, insolvency proceeding or proceedings of a similar nature;

(iv) demise of the Cardholder

(v) 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

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.

The Bank may transfer its rights and obligations under this Agreement with you to any other Persons or Businesses. The Bank shall however provide adequate communications to the Cardholder of such decisions.

Where the transfer has been processed and eventually communicated to the Cardholder, the persons or businesses to which this agreement is transferred assumes all of the Bank’s rights and obligations under the agreement. The term ‘’Bank’’ references in these Terms and Conditions shall henceforth refer to the said persons or businesses to which the Agreement was transferred.

Except in those circumstances, nothing in these Terms and Conditions will confer on any third party any benefit or the right to enforce any terms of the Agreement between the Cardholder and the Bank.

The following are the incidences where Foreign Exchange conversion may apply either during card Load/Reload or Usage:

During the Initial Load or Subsequent Reloads where the cardholder opts to move Funds from the Base currency wallet to any other currency wallets; the applicable rate to be applied would be determined on daily basis by the Bank based on the day’s currency buying or selling rate.
During the Point of Sale, Internet or ATM transaction where the transaction currency is not available on the card amongst the defined card currencies in which case the bank will convert the transaction into the next available currency as defined in the currency priority set- up by the cardholder; the bank will adopt Foreign Exchange rate defined and set by MasterCard as above.
When the Cardholder allocates funds from one currency wallet to another currency wallet for subsequent usage; the applicable rate to be applied would be determined on daily basis by the bank based on the day’s currency buying or selling rate.
Where the Bank allocates Funds from one currency wallet to another currency wallet in accordance with these Terms and Conditions; the bank would adopt its set day’s rate.
Where the cardholder closes the card and requests for refund of the balance on the card which is in currency other than the Base Currency; the bank will convert the foreign currency balance into Base currency using the day’s rate determined by the bank.
Foreign exchange rates applied on Load/reload or Usage are subject to variation and subsequent day’s rate may vary. The cardholder may however contact any I&M Branch or our Call Centre team on +254-20+3221111 to enquire of the applicable foreign exchange rate on a given date.

Usage of Funds in other than the Base currency in which the Card was issued or selected currency wallet (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 selected currency wallet (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 MASTERCARD Worldwide policy and procedures in force at the time that such a transaction is processed

Currently MASTERCARD Worldwide 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 MasterCard Worldwide. 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 MasterCard Worldwide 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.

The cardholder herein agrees to pay and/or authorizes the Bank to debit his/her card account with the Fees and any Charges on the card as set out in the Fees schedule communicated to the cardholder. Unless specified, all Fees will be debited from the Card account in the Base Currency currently defined as Rwanda Shillings. If no sufficient funds are available in the Base currency wallet to accommodate the charges, the Bank shall recover the Fees from any wallets by converting the nominated currency wallet to Base Currency equivalent using the day’s currency conversion rate.

If the Cardholder uses Funds in a currency other than the default currency in which the Card was issued or selected currency wallet, 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:

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

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

(iii) 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;

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

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

(vi) 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;

(vii) 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;

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

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

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

(xi) 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,

(xii) 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; (xiii) 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 (xiv) 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.

1.0 By purchasing the Card, the Cardholder consents and authorizes the Bank to share any personal information on the cardholder with its Branches and Appointed Agents involved in issuing, collecting, distributing and facilitating usage of the Card

2.0 The Cardholder undertakes to immediately notify the bank of any changes to their mailing and postal addresses or contact details through the established formal communication channels; the Bank is not responsible for non-receip of any notice or correspondences send to the address communicated and set-up with the bank.

3.0 The Cardholder may be required to provide personal identification information to the Bank branch or any Appointed Agent when purchasing the Card or processing additional funds to the card.

4.0 Cardholder personal information may be disclosed by the Bank to a third party wherein such disclosure is necessary to facilitate provision of card service, monitor compliance with card terms and conditions, anti-money laundering, detection of crime, legal compliance and in case of fraud prevention; the information may also be disclosed to debt collection agencies and lawyers in the event the Bank will seek to recover any monies owed to it by the cardholder under these terms and conditions; all the parties to whom this information is disclosed are required to deploy adequate safeguards to your persona information in their possession.

5.0 The Cardholder Personal Information will not be shared or used for any other purpose except as stated above unless the Bank is required or permitted to do so by any government laws and regulations, by a court order or by any business or persons to whom it transfers its rights and obligations under these Terms and Conditions.

6.0The Cardholder is entitled to access his/her information held by the Bank, its branches or Agents; such request shall always be in writing and can only be availed upon proper identification of the applicant by the bank; the Bank reserves the right to delete any incorrect information or correct any errors in any of cardholder personal information held.

7.0 To aid the Bank in the provision of the services under these Terms and Conditions telephone calls may be recorded for reference and service follow-up.

(i) providing the Cardholder the said facility of the Card

(ii 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,

(iii) the negligence, mistake or misconduct of the Cardholder (directly or indirectly),

(iv) breach or non-compliance of these terms and conditions,

(v) fraud or dishonesty relating to any Transaction by the Cardholder or his employee or agents,

(vi) any ATM/POS machine error or failure or other mechanical/system error/failure,

(vii) collection of all moneys due and payable (including applicable costs, charges and fees) by the Cardholder, and/or

(viii) 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, non- delivery 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.

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 Cardholders 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.

The Card account is still valid until the cardholder instructs the bank to close it or the Bank closes the card in accordance with these Terms and Conditions, whichever is earlier, even if the actual card has expired.

Before the request for closure of the card account, the cardholder may request for Refund of all monies outstanding in the Card which shall be paid at any of I&M Bank branch through either cash payment over the counter or refund through customer account at the branch. The balance will be paid in the Base Currency, less the card closure Fees as stipulated in the Fees table separately advised.

The cardholder must surrender the plastic card together with the application for account closure; the Branch processing the account closure shall acknowledge receipt of plastic and immediately initiate the closure process.

The following are the approval and recognized formal communication methods or channels between the cardholder and the Bank, its Branches and Authorized Agents:

1.0 Written Correspondences to the residential or postal address on record

2.0 Personal visits to the respective party locations

3.0 Electronic communications e.g. telephone, mobile communications, email address, fax numbers or SMS

4.0 Where the communication is not personal to the cardholder, through publishing in the newspapers or any other appropriate circulations.

The Cardholder has right to change his/her nominated communication details through telephone, mobile phone, email or postal services, or residential services. The cardholder may also opt to terminate receipt of any formal communication from the Bank through electronic means by formally notifying the bank of the same. The Bank will presume it has communicated to the Cardholder:

1.0 By writing to the cardholder – the Cardholder is assumed to have received the Communication when it would be delivered in the ordinary course of the post

2.0 By giving the communication personally or leaving it for the Cardholder; the Cardholder will be presumed to have received it on the day of delivery, or

3.0 Electronically, through email or SMS; the Cardholder will be taken to have received it on the day it is transmitted.

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.

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 recommend that the Cardholder observe/adopt the following precautions in addition to such other measures as the Cardholder may deem appropriate to protect the PIN and I-PIN:

(i) The Cardholder should not disclose the PIN or I-PIN to anyone.

(ii) The Cardholder should use due care in preventing anyone seeing the PIN when it being entered in the ATM or I-PIN when accessing internet.

(iii) 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.

(iv) The Cardholder should not write or otherwise indicate the PIN on the Card.

(v) The Cardholder should not keep a record of the PIN in any easily recognizable 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.

(vi) he 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 Centre, in event of any queries or complaints in connection with the Card or the monthly statements etc. 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:

(i) Name, address and Card number of the Cardholder.

(ii) 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

(iii) 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: An email statement of the monthly transactions may be obtained by the Customer subscribing to this facility by calling I&M Bank Call centre, and activating/lodging a request for the same, which request shall be processed at the earliest possible time, subject that I&M Bank shall not be responsible for any delay or non-receipt of such monthly transaction statement, or for integrity of the contents, post its due dispatch by I&M Bank, or for any viruses or the like in the email sent. The Cardholder may also avail of this information 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 Rwanda or other appropriate authority under any law in force from time to time.

The Card may be used outside Rwanda, subject to applicable laws, rules and regulations in force from time to time in Rwanda 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.

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 be used at any I&M Bank ATM, Kenswitch ATM, or MasterCard 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 ATM 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 Rwanda 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 always be reloaded in the BASE Currency of the Card as defined by the Bank from time to time. The amount of reload shall be in strict accordance to the limits specified by the Bank and any applicable laws, rules and regulations in force.

Card Loading and reloading funds shall not be given to any other persons except the approved Bank Tellers and/or Bank’s appointed agents as advised from time to time.

I&M Bank shall not be liable for any loss direct or indirect that may be suffered by the Cardholder as a result of funds given to any person other than the approved Bank Tellers and/or Bank’s appointed agents as advised from time to time.

Upon Issuance of the plastic Card and associated ATM PIN and WEB IPIN, the cardholder will be required to Load the Funds to the card to facilitate usage. The Funds shall be loaded by way of instructing any of I&M Bank branches to debit cardholder account held or depositing cash equivalent at the branch for the load value.

The loading and any subsequent reloads shall always be in Base currency which after loading the cardholder may opt to convert into various Currency Wallets of choice and designate currency usage priority by logging into the Bank Prepaid card Customer Portal facility.

Card Loading and reloading funds shall not be given to any other persons except the approved Bank Tellers and/or Bank’s appointed agents as advised from time to time.

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 Rwanda 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 MasterCard Worldwide 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 such suspension or termination, the Cardholder shall continue to be bound by these terms and conditions to the extend 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 reserve 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 hot listing the card. For this purpose, the Cardholder will be assigned an Internet Personal Identification Number known as I-PIN.

The Card may be used to access Funds at any ATM worldwide that displays the MASTERCARD logo 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 purchase made through the use of the Card or withdrawal of the Funds from the ATM 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 and the bank reserves the right to collect any monies from the cardholder for value of any purchase or ATM transaction done by the cardholder.

The Card may, subject to any applicable fee, be used to withdraw cash from an ATM displaying the MasterCard®, Maestro® or Cirrus® Acceptance Mark and / or to pay for goods and services at Merchant Outlets, or online, who accept MasterCard® cards electronically. The Card is for electronic use only and cannot be used for Manual or Offline transactions. The Card must not be used for any unlawful activity and the cardholder should not give or share their card with another person.

If there are insufficient funds in a particular Currency Wallet to pay for a transaction, the amount of the transaction will be automatically processed using other Currencies in the order of priority as previously selected by the cardholder on the available Currency Wallets. In case the available Funds on all Currency Wallets are still insufficient to pay for a transaction, the Card will be declined and the retailer may call the cardholder to pay the transaction amount by some other means.

The cardholder commits to accept a credit refund transaction to his/her Card Account in the applicable transaction currency if they are entitled to a refund or other credit for any reason for goods or services purchased using the Card.

A transaction or payment cannot be stopped once the cardholder authorizes the use of the Card. The Bank is not responsible and does not in any way always guarantee full time acceptability of the card at the ATMs and Point of Sale terminals not owned or operated by the Bank. The cardholder must always comply with all Laws and Regulations (including any foreign exchange controls) in respect of the Card in the country of purchase and/or use. When the cardholder notices an error in the card statement, they should immediately notify the Bank and in any event within 30 business days of the transaction in question. The Bank may request the cardholder to provide additional written information concerning the error.

The Cardholder may surrender the Card at any point in time and obtain a refund of the balance of the Funds less refund fees due to the bank, 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 Base Currency of the card. 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 declined use of card at the ATM or Merchant establishment, any unauthorized use or cancellation of the Card.

Information send over the internet may not be completely secure and the Bank does not guarantee functionality and availability of any terminals not owned and controlled by the bank nor take liability for any interruption or interception or loss of Personal Information or other data transmitted therein.

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

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 Rwanda 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.

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 5 years from the date of manufacture. Subject to all the conditions being satisfied, the Card shall be activated within a period of 48 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.

I&M Bank MasterCard Multicurrency Prepaid Travel Card is a Multicurrency card that can be used in variety of currencies as defined by the Bank from time to time.

The Card shall always be loaded or reloaded in the defined BASE Currency or any billing currency and thereafter funds may be converted to a variety of billing currency wallets which the cardholder will be able to transact directly from as per the transaction currency.

The initial BASE Currency shall be US Dollars with other secondary Billing Currencies which may include, Rwanda Shilling, Great Britain Pound and Euro or any other currency which the cardholder may convert and allocate the Funds for usage.

If the Bank introduces a new Base or secondary Billing Currencies and the cardholder chooses to allocate funds to that new currency, they shall be deemed to have acknowledged and agreed that these Terms and Conditions apply to such new Currency. If the Bank adds any new currencies to the defined Currency Wallets, this shall be appropriately communicated to the cardholder through available communication channels.

The cardholder is responsible for determining and managing their Currency Wallets portfolios and ensuring that sufficient funds are held in each wallet and in a defined usage priority to accommodate anticipated transactions in the relevant Currency, subject to certain limits and fees as defined and advised by the Bank from time to time.

Cardholder may allocate Base Currency funds across the available secondary Billing Currencies by logging into I&M Bank Customer Portal via www.imbank.com .

The Card is not a Credit Card and its usage is limited to the amount pre-loaded. The card must not be overdrawn. Any overdrawn position shall immediately become payable and the Bank shall immediately demand the same from the cardholder and exercise its rights defined in the terms and conditions to recover the overdrawn position.

The Funds held in the Card do not amount to a deposit with the Bank other than as described in these Terms and Conditions. The Bank shall not pay any Interest on the Credit Funds held in the card account. Any change shall be appropriately communicated to the cardholder.

The Card can only be used if it is in credit. If a particular Currency Wallet becomes overdrawn following a transaction by the cardholder, the resulting debit balance becomes a debt immediately payable by the cardholder and the Bank reserves the right to recover the overdrawn position by deducting funds held in another Currency Wallet, starting with the Base Currency. In converting the Negative Balance into the relevant Currency Wallet the Bank shall apply the same conversion rate used in Currency Wallets allocations.

The default Card Usage Currency will be the Base Currency, however the cardholder will be able to change their default currency settings and define usage currencies priorities by accessing the defined customer portal facility of the Bank’s prepaid card system. Usage of the Card in any other currency than the Base or secondary Billing Currencies will be billed in the Base Currency.

You agree to these Terms and Conditions by any of the following actions:

Signing the Application Form
Signing the back of the Card
Activating through loading or reloading or using the
Card at any ATM or Merchant Outlet or Website
Authorizing a Secondary Card to be issued on your
account
Any other way implying adoption and possession of the card

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

“Card” means the I&M Bank MasterCard Multicurrency Prepaid Travel Card, issued by I&M Bank to the Cardholder.
‘’Cardholder’’ means the person or assigned Agent of the person who has been rightfully issued a card by the Bank under these terms and conditions
“Agent” means any company/individual appointed and authorized by I&M Bank to sell, process reload and refund on the Card.
‘’ATM’’ means an automatic teller machine/terminal displaying either MasterCard or Maestro Logo for effecting cash withdrawals, at which, inter alia, the Card may be used for the purpose of withdrawing Funds.
“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 feespaid 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.
“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 Rwanda 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.
‘’Base Currency’’ means the basic currency under which the card is issued and billed.
‘’Currency Conversion Rate’’ means the prescribed rate of currency exchange at which one currency wallet shall be converted to another currency wallet.
“United States dollar” means the basic unit of money in the United States which hereinafter may be referred to as “USD”, Dollar, “US $” or “$”.
“Great Britain Pound” means the standard monetary unit of the United Kingdom, hereinafter may be referred to as “GBP”, “Pound”, “Sterling Pound” or “£”.
“Euro” means the official currency unit of the member countries of the European Union who have adopted European Monetary Union. 20 “Rwanda Shilling”, means the basic unit of money in Rwanda, hereinafter referred to as “KES”, “KSHS” or “Ksh”.

I&M Visa Pre-paid Cards Terms & Conditions

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 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.

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 Rwanda (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 Rwanda 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 laws of Rwanda 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 Rwanda or such other country occasioned by use of the Card outside Rwanda. 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 Rwanda 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.

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

(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.

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 Rwanda. 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.

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.

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.

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.

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.

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.

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.

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 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.

Cash withdrawn at an ATM outside Rwanda 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.

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.

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.

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 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 Rwanda.

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

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, Rwanda.
“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 Rwanda 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

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 Rwanda and all disputes, actions and other matters relating thereto will be determined in accordance with such law.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

(a) “Bank” means I & M Bank Limited, incorporated in Rwanda as a limited liability company under the Companies Act (Cap 486 of the Laws of Rwanda) and includes such Branch or Subsidiaries

Terms and Conditions

Anti Bribery and Corruption Statement

Anti Bribery and Corruption Statement

Credit Card Application General Terms and Conditions

20. General

19. Purchases and cash advances made without a card

18. Liability for indebtedness

17. Security

16. Foreign currency

15. Responsibility for service

14. Variation of agreement

13. Authorised users

12. Refunds and cardholder claims

11. Safeguarding the card

10. Termination

9. Withdrawal of use of the card

8. Automated Teller Machine

7. Charges

6. Payment & interest

5. Statement

4. The card account

3. Use of card

2. Acceptance

1. Definitions

Data Protection

Privacy Notice

Data Subject Parental Consent Withdrawal Form

Data Subject Parental Consent Form

Data Subject Consent Withdrawal Form

Data Subject Consent Form

General Terms and Conditions

Anti-Corruption and Fraud Management Commitment

Consumer Protection Guidelines

Privacy Notice

40. Governing Law

39. Indemnity

38. Variation

37. Interpretation

36. Assignment

35. Data Protection

34. Confidentiality

32. Communications

31. Validity of Documents

30. Liability

29. Complaints

28. Deductions

27. Dormant Accounts

26. Foreign Currency Accounts

25.Fixed Deposits

24. Joint Account

23. Chequebooks

22. Freezing the account

21. Variation of relationship & closure of the account

20. Banks Right Of Set-Of

19. Banks’ Lien

18. Repayment of overdrawn Accounts

17. Credit Facilities extended by the bank to the customer

16. Interest

15. Accounting and Transmission Errors

14. Standing Orders / Direct Debits

13. Statements of Account

12. Bank Charges and Expenses

11. Simultaneous order of funds

10. Withdrawal and Payments

9. Payment of cash

8. Deposits and Credits

7. Specimen Signatures

6. Customer’s Instruction

5. Customer Information

4. Customer’s Name

3. Customer’s Address

2. Eligibility

1. Definitions

General Terms and Conditions

I&M Bank Debit Card Terms and Conditions

19. LAW

18. AMENDMENT

17. CIRCUMSTANCES BEYOND THE CONTROL OF THE BANK

16. LIABILITY OF CARD HOLDER AND BANK

15. GENERAL