Terms & Conditions

Terms and Conditions

The terms and conditions (hereinafter referred to as “Terms and Conditions”) mentioned herein is applicable to the usage of the “Rucards” (Prepaid Card)” and required to be agreed to and accepted before its usage. The Terms and Conditions specified below govern and constitute the entire agreement and/or arrangement between you and “Crescent Business Solutions Pvt Ltd” , having ( CIN: U67190MH2010PTC202209 ) registered office in Navi Mumbai- 400701 in relation to the “Rucards” (Prepaid Card)” , as amended from time to time at the at the sole discretion of the Rucards.

By completing the sign-up process for availing the “Rucards” (Prepaid Card)”, you are deemed to have expressly read, understood, and accepted each Terms and Conditions mentioned herein. You agree to be bound by all the Terms and Conditions mentioned herein, as may be amended from time to time, at the sole discretion of the Rucards.

I. DEFINITIONS
In this Terms and Conditions, unless the contrary intention appears and/or the context otherwise requires, capitalized terms defined by:

(i) inclusion in quotations and/ or parenthesis have the meanings so ascribed; and (ii) the following terms shall have the meanings assigned to them herein below:

a) “Account” or “Card Account” refers to a prepaid account with an account balance equivalent to amount loaded on such PPI, for the purpose of monitoring the limits available on such PPI.

b) “Application Form” shall mean as the context may permit or require, the Rucards application form submitted by the Customer for the purpose of applying for and/or availing the prepaid card along with all requisite information, particulars, clarifications, and declarations, if any, furnished by the Customer from time to time in connection with the Rucards.

c) “Business Day” means a day other than a Sunday or Public Holiday as defined under Section 25 of Negotiable Instrument Act, 1881 on which banks are open to transact business of banking.

d) “Charges” means such levy, costs and charges levied by Rucards for usage of the services, as amended from time to time.

e) “Cash Limit” shall mean the maximum amount of cash that the Customer can withdraw by using the Card on any given day or for such periods as may be stipulated by Rucards from time to time, provided that in no event shall such amount be more than the amounts transferred to the Records account issued to the Customer, after deducting the aggregate debits made thereon pursuant to the use of the card by the Customer.

f) “Customer” or “Holder” shall mean any individual, limited liability partnership firm, partnership, society, company or any other organization or entity under applicable laws, who obtain/purchase PPIs from Bank and use the same for purchase of goods and services, including financial services, remittance facilities etc. against the value stored on such instruments.

g) “Customer Care Centre” refers to Program Phone Banking Service provided by Rucards for addressing all queries, complaints raised by the Customer or any details or information sought by the Customer in relation to the product or services with Rucards.

h) “Card Agreement” means the agreement or arrangement letter signed and executed by the Customer with the company for issuance of the Rucards to its employees/ contractual staff and includes any amendments made thereto from time to time.

i) “Card” or “Rucards” or Prepaid Instrument (PPI) shall mean a Prepaid Instrument (“PPIs”-Card/wallet) are payment instruments that facilitate purchase of goods and services, including financial services, remittance facilities etc. against the value stored on such instruments as defined in the Master Direction on Issuance and Operation of Prepaid Payment Instruments dated December 29, 2017.

j) “EDC” or “Electronic Data Capture” means terminal, printer, other peripheral and accessory and necessary software on which the Rucards can be swiped or used to initiate a transaction.

k) “Internet Payment Gateway” means the protocol stipulated/to be stipulated by Rucards authorizing the payments through the channel via internet upon authentication of the Customer.

l) “KYC” shall mean Know your Customer guidelines adopted by the Bank for the purpose of identification and verification of the Customer, pursuant to the guidelines, circular and notifications, issued by the Reserve Bank of India, from time to time.

m) “Merchant Establishments” shall mean such physical establishments including but not limited to stores, shops, restaurants, hotels, located in India, which accept Rucards or Rupay Cards.

n) “Personal Identification Number (PIN)” is a numeric password which is part of the kit provided to the Customer by Rucards along with the PPI.

o) “Payment Channel” shall mean various modes of transactions including but not limited to EDC/ POS terminals/kiosks / Internet Payment Gateway and various other modes as intimated by Rucards from time to time.

p) “POS” or “Point of Sale” means electronic terminals maintained by Merchant Establishments in India at which the Customer can use the Rucards for the purpose of purchasing the goods and services, including financial services, remittance facilities etc.

q) “Program” shall mean Rucards program to offers the Customer.

r) “Schedule of Fees/Charges” shall mean the details of fees or charges as may be prescribed by Rucards from time to time and displayed on its Website, amended from time to time.

s) “Statement” means a monthly statement of the Rucards transaction available in the records setting out the financial transactions that have been carried out or made through the Rucards, along with the balance, if any, in the Card Account.

t) “Transaction” means any transaction initiated on the Rucards by the Customer at any MasterCard/Visa/Rupay/JCB affiliated Merchant Establishment, ATMs, other bank’s ATMs in India or over the internet.

u) “Transaction Limit” shall mean the maximum value of purchase that the Customer can make at Merchant Establishment or over the internet directly or indirectly by using the Rucards on any given day or for such periods as may be stipulated by Rucards from time to time, provided that in no event shall such amount be more than the amounts transferred to the Rucards issued to the Customer, after deducting the aggregate debits made thereon pursuant to the use of the card by the Customer.

v) “Website” shall mean the website owned, established, and maintained by Rucards located at the URL: www.Rucards.in or any modifications or amendments thereto from time to time.

w) “RUCARDS” shall mean. a “brand” to a company within the meaning of the Companies Act 1956 and a banking within the meaning of section 5 (c) of the banking Regulation Act, 1949, having its registered office at 306, Sigma IT Park, 3rd Floor, Rabale, Navi Mumbai 400 701.

II. INTERPRETATIONS

In these Terms and Conditions, unless the contrary intention appears:

a) a reference to an “amendment” includes a supplement, modification, novation, replacement, or re-enactments and “amended” is to be construed accordingly.

b) an “authorization” or “approval” includes an authorization, consent, clearance, approval, permission, resolution, license, exemption, filing and registration.

c) “law” includes any constitution, statute, law, rule, regulation, ordinance, judgment, order, decree, authorization, or any published directive, guideline, requirement, or governmental restriction having the force of law, or any determination by or interpretation of any of the foregoing by any judicial authority, whether in effect as of the date of signing/submission of the Application Form or thereafter, and each as amended from time to time.

d) “Force Majeure Event” means any event due to any cause beyond the reasonable control of the Rucards, including without limitations, unavailability of any communication systems, breach, or virus in the processes or payment or delivery mechanism, sabotage, fire, flood, explosion, acts of god, civil commotion, strikes or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, unauthorized access to computer data and storage devices, computer crashes, malfunctioning in the computer terminal or the systems getting affected by any malicious, destructive, or corrupting code or program, mechanical or technical errors/failures or power shut down, faults or failures in telecommunication etc.

e) the singular includes the plural and vice versa.

f) the headings in these Terms and Conditions are inserted for convenience of reference only.

g) reference to the words “include” or “including” shall be construed without limitation.

h) reference to a gender shall include reference to the female, male and neuter genders.

i) all approvals, permissions, consents, or acceptance required from Rucards for any matter shall require the prior written approval, permission, consent, or acceptance of Rucards.

j) in the event of any disagreement or dispute between Rucards and the Customer regarding the materiality of any matter including any event, occurrence, circumstance, change, fact, information, document, authorization, proceeding, act, omission, claims, breach, default or otherwise, the opinion of Rucards as to the materiality of any of the foregoing shall be final and binding on the Customer.

III. APPLICABILITY OF TERMS AND CONDITIONS:

a) These Terms and Conditions along with the General Terms and Conditions cumulatively form the entire contract between the Customer and Rucards for usage of the Rucards.

b) The Rucards shall be issued, subject to the Customer fulfilling the eligibility criteria as stipulated by company from time to time.

c) The Rucards shall not be transferable to other individual or party.

d) The maximum credit balance which can be uploaded on the Rucards shall be limited to INR 200,000/- (Rupees Two lakh Only) for full KYC account and INR 10,000/ (Ten Thousand only for minimum KYC accounts)

e) The Rucards shall be valid only within the territory of India and for transactions in Indian Rupees only. The Rucards cannot be used outside the territory of India or for any transactions denominated in foreign currency.

f) The Rucards is the exclusive property of “Crescent Business Solutions Pvt ltd”.

g) The Customer shall be required to sign on the reverse side of physical Rucards immediately upon its receipt. Rucards reserves the right to reject or cancel any.
Transaction in absence of the signature or mismatch of the signature, without further notice or intimation to the Customer.

h) The Rucards can be used at the Automated Teller Machines (“ATMs”) for withdrawal of cash by the Customer within the credit limit specified for the Rucards. These are open loop cards and can be used for cash withdrawal at ATM.

i) Rucards shall not be liable to pay any interest on any balance maintained in the account at any point in time.

j) Rucards will inform or intimate the Customer 45 days prior to the expiry of the Rucards through SMS on the registered mobile number of the Customer. Customer needs to utilize the entire credit balance available on the Rucards prior to the expiry of the card. In case the Customer does not utilize the credit balance available on the RUCARDS within the validity period, the Customer can approach Rucards for refund/transfer of outstanding balance to the account maintained with card or any other bank account of the Customer. In case the Customer does not approach Rucards within a specified period, the outstanding credit balance available on the Rucards will be transferred to a Fund in compliance with the regulatory guidelines.

IV. RUCARDS NON-RELOADABLE PREPAID CARD

The following terms and conditions apply to your use of the RUCARDS Non-Reloadable Visa/Rupay Prepaid Card. By purchasing, activating, signing and/or using the Card, you are agreeing to these terms and conditions and fees outlined below.

Card issuer: This card is issued by Crescent Business Solutions Pvt. Ltd. (DBA Rucards). If you have questions regarding the Card Balance, up-to-date Card terms and conditions, to obtain the expiry date of your Card or to log a complaint, you may call customer service at +91 2249647700 Rucards for free.

Card restrictions:

a) The Card is not returnable.
b) The Card is not refundable.
c) You cannot reload the Card with more funds.
d) You cannot make cash withdrawals from the Card.
e) You may not use your Card to commit or facilitate illegal activity.
f) The Card may be deactivated at any time if fraud, related to the Card or use of the Card, is suspected.
g) Card will be valid for 1 year.

V. ISSUANCE AND USAGE OF THE CARD

a) The Customer unconditionally and irrevocably authorizes Rucards to deliver and handover the cards to the Customer or the entity which will distribute it to their Customer(s). Rucards shall not be liable or responsible for any act or omission on the part of the entity, in connection with the delivery of the card to the Customer.

b) Rucards and the Merchant Establishments reserves the right to refuse the acceptance of the card at any time for any reasons whatsoever, without any prior intimation to the Customer.

c) The Rucards shall be used only for Bonafede personal or official purposes. It is clarified that charges incurred may, in case of certain Merchant Establishments, include a charge for availing certain additional service or other facility being provided by such Merchant Establishments.

d) The Customer shall sign and retain all the charge slips generated for each of the Transaction consummated at a Merchant Establishment. Rucards shall not be obliged to provide copies of the charge slips or transaction slips to the Customer. Any such request by the Customer will be at the sole discretion of Rucards and provided such requests have been made by the Customer within forty-five (45) days from the date of the Transaction. The Customer agrees that Rucards shall be entitled to charge additional cost or charge for providing copies of the charge or transaction slips.

e) Any charge or cost levied by the Merchant Establishment in relation to any Transaction, shall be directly settled by the Customer with the Merchant Establishment. Rucards shall not be liable or responsible, either directly or indirectly, for any act or omission on the part of the Master Merchant or the charges or cost levied by them in relation to the Transaction.

f) All refunds and adjustments due to any Merchant Establishments on account of device error or communication link will be processed manually and the Card Account will be credited after due verification by Rucards pursuant to the applicable rules, regulation, and internal policy of the company. The Customer agrees that any subsequent Transactions will be accepted or honoured only basis the available credit balance in the Card Account(s) without considering any disputed amount under consideration by Rucards. The Customer shall unconditionally keep Rucards indemnified against any loss or damage caused to Rucards on account of dishonouring the payment instructions as a result of insufficient funds in the Card Account. The Customer agrees that Rucards shall be entitled to deduct the amount of such loss or damaged caused to Rucards directly from the Card Account.

g) The Customer acknowledges that all refunds in case of failed, returned, rejected, or cancelled Transactions done by the Customer using any other payment instrument cannot be credited in the Rucards.

h) The Card Member undertakes to always act in good faith in relation to all dealings in relation to the Rucards. The Customer accepts full responsibility for any illegal or wrongful use of the Rucards in contravention to the Terms and Conditions contained herein and undertakes and agrees to indemnify Rucards against any loss, damage, interest, conversion, any other financial charge that Rucards may incur and/or suffer, whether directly or indirectly, as a result of the Customer committing any violations of the Terms and Conditions contained herein.

i) The Customer agrees that he/she will not use the Rucards for making payment(s) of any goods and services, which is illegal under the Applicable laws. The Rucards cannot be used for making purchases of prohibited or contraband products or services;

j) The Customer hereby acknowledges and agrees that the Rucards shall not be loaded or reloaded by Rucards, for an amount exceeding set limit of accounts type (Full KYC & Minimum KYC)

k) The Customer hereby acknowledges and agrees that if there are no Transaction for a consecutive period on the Rucards, subject to validity of the Rucards, the cards shall be made inactive by Rucards after sending a notice to the Customer. The cards can only be reactivated by Rucards after validations and requisite due diligence, as stipulated by Rucards, from time to time.

l) The Customer hereby agrees to receive SMS or emailing alerts from Rucards for all Transactions done using the Rucards. The SMS or emailing alerts from company.
shall stipulate debit and credit Transactions, balance available or remaining on the Rucards or such other information or details as stipulated by Rucards, from time to time.

m) The Customer agrees and confirms that the Personal Identification Number (“PIN”) shall under no circumstances should be revealed by the Customer to any relative or family members or third party. The Customer shall be solely responsible and liable for the consequences arising out of such unauthorized disclosure of PIN and/or unauthorized usage of the Rucards. The Customer disclaims all responsibility and liability of Rucards arising out of or in connection with the unauthorized usage of the Rucards and/or any loss or damage, whether direct or indirect, incurred by Rucards because of such misuse. If the Customer forgets or misplaces the PIN, the Customer should make an application in writing or contact the Customer Care Centre for a new PIN immediately. The new PIN will be sent to the Customer’s registered email address, provided to or available with the Rucards.

n) The Customer agrees that Rucards may, at its sole discretion, utilize the services of external service provider/s or agent/s and on such terms as required or necessary, in relation to its services.

o) The Customer shall have access to Frequently Asked Questions (“FAQ”) as uploaded by Rucards on its Website, from time to time.

BREACH

a) In the event of any breach of these Terms and conditions by the Customer, Rucards shall have the sole right to forthwith cancel or terminate the card/program/business relation, without any further claim, demand or dispute upon Rucards. b) The Customer undertakes and agrees to indemnify Rucards against any loss, damage, claim, penalty, cost, charges, or expenses (including legal counsel fees) that Rucards may incur and/or suffer, whether directly or indirectly, as a result of the Customer committing any breach of the Terms and Conditions contained herein.

TERM & TERMINATION

a) The Rucards shall be valid for a period of three (3) years from date of printing or until the expiry date printed on the face of the Rucards.

b) The Customer agrees and undertakes to destroy the Rucards upon its expiry to prevent any third party from using it.

c) The Customer may at any point of time, request for termination of the Rucards, by giving a prior written notice of thirty (30) days to Rucards, save and except, upon request by the Customer for hot listing or blocking the Rucards, in which case the card shall be terminated and/or cancelled with immediate effect.

d) The Customer understands that such notice will not take effect until the Rucards has been defaced by cutting off the top right-hand corner, ensuring that both the hologram and the magnetic strip have been cut and has been destroyed or received by Rucards. The Customer agrees that the Customer shall continue to be liable for any Charges incurred on the Rucards prior to the termination of the Rucards, irrespective of the fact whether the Customer has or claims to have destroyed the Rucards.

e) Rucards may at its sole discretion terminate the Cards

(i) In the event the Customer is declared insolvent or death of the Customer
(ii) In the event of the Customer committing breach of any of the terms, conditions, stipulations, or its obligations under these ‘“Terms and Conditions.”’
(iii) In the event of any restriction imposed on the Customer by an Order of a competent Court or Order issued by any regulatory or statutory authority in India or any investigating agency.
(iv) In the event the Rucards Program becomes illegal under the applicable laws, rules, guidelines or circular.
(v) In the event the entire Rucards Program is terminated.
f) Rucards, at its sole discretion, reserves the right to, either temporarily or permanently, withdraw the privileges on the Rucards and/or terminate the card at any time without giving any notice or assigning any reason thereof. In case of a temporary withdrawal, the privileges attached to the Rucards shall be reinstated by company at its sole discretion. In case of a permanent withdrawal, Rucards has a right to cancel the cards permanently. However, it is made distinctly clear that withdrawal (temporary or permanent) shall constitute automatic withdrawal of all benefits, privileges and services attached to the cards. The Customer agrees that in the event of temporary or permanent withdrawal of the Rucards, the Customer shall continue to be fully liable for all Charges incurred on the card prior to such withdrawal, together with all other applicable Charges thereon, unless otherwise specified by Rucards.

g) If Rucards temporarily or permanently, withdraw the privileges, or terminates the Cards, it will on best effort basis, promptly notify the Customer. Rucards shall not be held liable or responsible for any such delays or laches in receipt of such notification.

h) Upon termination of the Rucards as stated above, the balance amount, if any lying in the Card Account shall be refunded to the Customer subject to the payment of applicable charges by way of Pay Order / Demand Draft drawn in favour of the Customer and receipt of written request from the Customer. Customer to submit request with Rucards for refund of the balance amount.

VII. NOTICES

Any notice to be given by Rucards here under shall be deemed to have been received by the Customer, within seven (7) days from the date of the notice or email sent by Rucards at the registered email provided to or available with Rucards.

Any notice to be given by the Customer hereunder shall be deemed to have been received by Rucards only upon acknowledgement of receipt of such notice by company at its Corporate Office Address.

Any notice or communication from the Customer hereunder shall not be binding on Rucards unless the same is in writing and shall have been served and acknowledged by company or if by registered post, acknowledgement card.

VIII. CHARGES

Charges shall include:

a) Any fees charged by Rucards in respect of the Rucards, including replacement, renewal, handling and other fees, if any. These fees are non-refundable, non- transferrable and non-assignable in nature.

b) Service Charges on specific types of Transactions. The method of computation of such Charges will be as notified by Rucards from time to time on its website: “rucards.in”

c) All Charge, in the absence of manifest error, shall be final and binding on the Customer and shall be conclusive in nature.

d) All statutory taxes, goods and service tax, all other imposts, duties (including stamp duty and relevant registration charges, if any, in connection with the card and taxes (of any description whatsoever) as may be levied from time to time by the Government or other authority in respect of or in connection with the Rucards, will be borne by the Customer.

IX. CASH WITHDRAWAL

The Customer can use the Rucards to access emergency cash withdrawal from ATM’s and ATM’s of any member bank. However, the total amount that which may be withdrawn at any point of time, shall not exceed the available balance in the Rucards or such limits as stipulated by the Reserve Bank of India from time to time.

X. LOST, STOLEN OR MISUSED RUCARDS:

a) If the card is lost or stolen, the Customer must immediately report such loss or theft to Customer Care Centre and request for immediate suspension of the Card.

b) The Customer acknowledges that once the Rucards is reported lost, stolen or damaged, such Rucards cannot be used again, even if found subsequently.

The Customer is responsible for the security of the card and shall take all steps towards ensuring that the card is not misused. In the event Rucards determines
or receives any information that the Customer has neglected or refused or failed to take steps as indicated above, in case of loss, theft or destruction of the card, “Rucards” reserves the sole right to cancel or terminate such cards.
c) No liability shall accrue upon the Customer for any unauthorized transactions done on the cards, after such card (s) has been reported lost, stolen, or damaged by the Customer. All liabilities accrued on the cards, post reporting by the Customer shall be borne by Rucards. However, in case of any dispute relating to the time of reporting and/ or transaction/s made on the card, post reporting being lost, stolen or misused, all decisions of card shall be final and binding on the Customer.

XI. EXCLUSION OF LIABILITY

a) Without prejudice to the foregoing, Rucards shall be under no liability or responsibility to the Customer or any third party, in respect of any loss or damage arising, directly or indirectly out of:

1. any defect in any goods or services supplied.
2. any disputes regarding the quality, value warranty, delay of delivery, non-delivery, non-receipt of any goods or services.
3. the refusal of any person to honour or accept the Rucards
4. Non-functioning of cards in the desired manner for whatsoever reason, or if the ATM is not functioning due whatsoever reasons.
5. the malfunction of any computer terminal
6. Any Force Majeure events
7. Transfer of the Rucards to any third party.
8. Termination of the Rucards by the Customer.
9. Any loss or damage caused to the Customer alleged to have been caused by the repossession of the cards.
10. Any discrepancy between the amount allocated to a Rucards upon receipt of instructions in this regard from the Customer.
11. Any reversals done on the Rucards on request of the Customer.

XII. DISPUTED TRANSACTIONS

a) Any charge or Transaction slip or other payment requisition received by Rucards for payment shall be conclusive proof of such Charge, , unless the card is lost, stolen or fraudulently misused and evidenced by the Customer.

b) All disputed Transactions in relation to the Rucards shall be required to be raised with the Customer Care Centre maintained by company, within fifteen (15 )days from the date of the disputed transaction. The Customer acknowledges that any request, after 15 days from the date of the disputed transaction shall not be accepted by Rucards.

XIII. QUALITY OF GOODS AND SERVICES

Any dispute with or complaint against any Merchant Establishment regarding any goods purchased or services availed must be directly resolved by the Customer with the Merchant Establishment

XIV. DISCLOSURES

a) The Customer acknowledges and consents to sharing of information pertaining to the Customer and the usage of the Rucards with any other banks or financial or statutory or regulatory authorities.

b) The Customer acknowledges and agrees that Rucards may report to any other banks or financial or statutory or regulatory authorities any Customer delinquencies and/or the usage of the cards. Rucards shall not be obliged to disclose the details of such banks or financial or statutory or regulatory authorities to the Customer, including the extent of such disclosure.

The Customer hereby authorizes Rucards and its agents to exchange, share or part with all the information relating to the Customer’s details and payment history with Rucards group companies or Affiliates.

XV. GOVERNING LAW & JURIDICTION

All disputes arising in relation to these Terms and Conditions shall be governed by and construed in accordance with the laws of India and shall be subject to the exclusive jurisdiction of the Courts of Mumbai.

XVI. CHANGING THESE TERMS AND CONDITIONS

“Rucards” reserves the sole right to change, these Terms and conditions, features and benefits offered on the cards, including but not limited to interest charges or rates and methods of calculation. a) Rucards shall communicate the amended Terms and Conditions by hosting them on its website, www.Rucards.in, or in any other manner as decided by the company.

b) The Customer shall be responsible for reviewing these Terms and Conditions, including amendments thereto as may be posted on the Rucards website: “www.rucards.in” and shall be deemed to have accepted the amended Terms and Conditions by continuing to use the Rucards.

XVII. SCHEDULE OF CHARGES

Fees Amount
Card Issuance :Rs. 100 per Card
ATM cash withdrawal :INR 10
ATM Balance enquiry :INR 8
Annual fees :INR 200
Card Replacement : INR 100 per card

Nothing contained herein shall, however, prevent Rucards from deducting tax deductible at source as required under the Applicable Laws, from any Transaction through the Rucards.

Visit Fee Page : https://rucards.in/fee

XVIII. CUSTOMER GRIEVANCE & REDRESSAL

a) In the event of any dispute or grievance in relation to the Rucards and/or these Terms and Conditions, the Customer may contact the Rucards 24 hours Customer Care number at “+912249647700” or Email: [email protected].

b) In the event the dispute or grievance in relation to the Rucards and/or these Terms and Conditions is not adequately address or resolved by the Rucards- Customer Care, the Customer may approach the company Nodal Officer details of which can be found on website. c) Rucards agrees that all complaints, disputes or grievances raised by the Customer shall be addressed and/or resolved in a time bound manner.

d) The Customer may at any time approach the Banking Ombudsman for their grievance redressal.