Download Category: 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. I&M Bank reserves the right to revise the policies, features and benefits offered on the Card from time to time and may notify the Cardholder of any such revisions/changes in any manner as deemed appropriate. The Card Member will be bound by such revisions/changes unless the Card is returned to I&M Bank for cancellation before the date on which the revisions/changes are made. The details of all transactions effected through the use of the Card by the Cardholder may be shared with Credit Reference Agencies, lenders and/or other agencies for the purposes of assessing applications for credit or other facilities by the Cardholder and/or his/her family members, and for fraud prevention. In addition to the general right to set off or other right conferred by law or under any other agreement, I&M Bank may, without notice, combine or consolidate the balance on the Card with any other account(s) which the Cardholder maintains with I&M Bank and its Group Companies, and setoff or transfer money standing to the credit of such other account(s) in or towards the satisfaction of the Cardholder’s liability to I&M Bank under his/her Card. The Cardholder shall forthwith notify I&M Bank of any change in his/her address for communication as stated in the application form for the Card. I&M Bank 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 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 Centre, telephone service 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 Uganda (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 Uganda 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 Uganda 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 Uganda or such other country occasioned by use of the Card outside Uganda. 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 Uganda 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

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.

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 Uganda 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.

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: (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. These emergency medical and travel assistance and concierge assistance services are not presently available Uganda. 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 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 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.