Terms & Conditions

Terms and Conditions

The following Terms and Conditions (hereinafter referred to as "Terms") govern the use of "Rucards" (Prepaid Card), and must be agreed upon before its usage. These Terms constitute the full agreement between you and "Crescent Business Solutions Pvt. Ltd." (CIN: U67190MH2010PTC202209), based in Navi Mumbai - 400701, concerning the "Rucards" (Prepaid Card), and may be updated periodically at the sole discretion of Rucards.

By signing up to use the “Rucards” (Prepaid Card), you confirm that you have read, understood, and agreed to these Terms and Conditions. You also agree to be bound by the Terms, as they may be amended by Rucards from time to time.

1. DEFINITIONS
Unless otherwise stated, the following terms have the meanings defined below:

(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 the prepaid account associated with the card, used to monitor the available balance.

b) "Application Form" refers to the Rucards application submitted by the Customer for obtaining the prepaid card, along with any supporting information provided.

c) "Business Day" means any day other than Sundays or public holidays, as defined under Section 25 of the Negotiable Instruments Act, 1881, when banks are open for business.

d) "Charges" includes any applicable levies, costs, and fees imposed by Rucards for using its services, which may change from time to time.

e) "Cash Limit" refers to the maximum cash withdrawal limit that the Customer can access through the Card on any given day or as stipulated by Rucards, but never exceeding the balance on the Card.

f) "Customer" or "Holder" refers to any individual, business, or entity who obtains or uses the prepaid card for purchasing goods and services or for financial services.

g) "Customer Care Centre" is the helpline provided by Rucards for addressing customer queries or complaints related to the product or services.

h) "Card Agreement" refers to the document or agreement signed by the Customer for the issuance of Rucards to employees, contractors, or others.

i) "Card" or "Rucards" or "Prepaid Instrument (PPI)" refers to the prepaid card or wallet used for transactions, as defined in the Master Direction on Prepaid Payment Instruments issued by the RBI in December 2017.

j) "EDC" means the terminal and associated hardware and software used for processing card transactions.

k) "Internet Payment Gateway" refers to the online payment system authorized by Rucards for processing payments through the internet.

l) "KYC" refers to the Know Your Customer process for identity verification, as required by the Reserve Bank of India (RBI).

m) "Merchant Establishments" refers to physical stores or businesses in India that accept Rucards for payment.

n) "PIN" refers to the personal identification number provided with the Rucards for secure transaction processing.

o) "Payment Channel" refers to the different modes of transactions including EDC terminals, POS, and internet payment gateways.

p) "POS" or "Point of Sale" refers to merchant terminals where the Rucards can be used for transactions.

q) "Program" refers to the specific offerings or services related to Rucards.

r) "Schedule of Fees/Charges" refers to the details of applicable fees or charges related to Rucards, which are displayed on Rucards' website and may change periodically.

s) "Statement" refers to the monthly account statement showing the transactions and balance on the Rucards.

t) "Transaction" means any action initiated by the Customer using the Rucards at an ATM, merchant, or online, including payments for goods or services.

u) "Transaction Limit" refers to the maximum allowed purchase value at merchants or online per day, not exceeding the available card balance.

v) "Website" refers to Rucards' official website, www.Rucards.in, or any future amendments to the website.

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

2. INTERPRETATIONS

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

a) Any reference to an "amendment" includes a supplement, modification, novation, replacement, or re-enactment, and the term “amended” should be interpreted accordingly.

b) The terms “authorization” or “approval” encompass authorizations, consents, clearances, approvals, permissions, resolutions, licenses, exemptions, filings, and registrations.

c) The term "law" refers to any constitution, statute, law, rule, regulation, ordinance, judgment, order, decree, authorization, or any published directive, guideline, requiremnt, or governmental restriction with the force of law, as well as any determination or interpretation of these by a judicial authority, whether in effect as of the date of signing/submission of the Application Form or later, and each as amended over time.

d) A “Force Majeure Event” refers to any event beyond the reasonable control of Rucards, including, but not limited to, unavailability of communication systems, breaches or viruses in payment or delivery mechanisms, sabotage, fire, flood, explosion, natural disasters, civil unrest, strikes or industrial actions, riots, insurrections, wars, government actions, computer hacking, unauthorized access to computer data or storage devices, computer malfunctions, errors, or failures in technical systems, power outages, and faults in telecommunications.

e) The singular form includes the plural, and vice versa.

f) The headings in these Terms and Conditions are included solely for ease of reference.

g) Any reference to the terms “include” or “including” should be interpreted as being without limitation.

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

i) Any approvals, permissions, consents, or acceptances required from Rucards for any matter must be obtained in writing from Rucards in advance.

j) In the case of any disagreement or dispute between Rucards and the Customer regarding the significance of any matter, including any event, occurrence, circumstance, change, fact, information, document, authorization, proceeding, act, omission, claims, breach, default, or otherwise, the decision of Rucards regarding the materiality of any of the above shall be final and binding on the Customer.

3. APPLICABILITY OF TERMS AND CONDITIONS:

a) These Terms and Conditions, together with the General Terms and Conditions, constitute the complete agreement between the Customer and Rucards for the use of the Rucards.

b) The issuance of the Rucards is subject to the Customer meeting the eligibility criteria set by the company from time to time.

c) The Rucards are non-transferable and cannot be assigned to any other individual or party.

d) The maximum credit limit that can be loaded onto the Rucards is capped at INR 200,000 (Rupees Two Lakh Only) for full KYC accounts, and INR 10,000 (Rupees Ten Thousand Only) for minimum KYC accounts.

e) The Rucards are only valid for use within the territory of India and for transactions in Indian Rupees. They cannot be used outside of India or for transactions in foreign currencies.

f) The Rucards are the sole property of “Crescent Business Solutions Pvt Ltd.”

g) Upon receiving the physical Rucards, the Customer must immediately sign on the reverse side. Rucards reserves the right to reject or cancel any transaction if the signature is missing or mismatched, without prior notice or communication to the Customer.

h) The Rucards can be used at Automated Teller Machines ("ATMs") for cash withdrawals by the Customer, within the specified credit limit for the Rucards. These are open-loop cards and can be used for cash withdrawals at ATMs.

i) Rucards will not pay any interest on the balance maintained in the account at any time.

j) Rucards will notify the Customer 45 days before the card expires via SMS to the registered mobile number. The Customer must use the full credit balance available on the Rucards before the card expires. If the Customer does not use the balance within the validity period, they may contact Rucards to request a refund or transfer of the remaining balance to the account linked with the card or any other bank account. If the Customer does not contact Rucards within the specified period, the remaining credit balance on the Rucards will be transferred to a fund in accordance with regulatory guidelines.

4. RUCARDS NON-RELOADABLE PREPAID CARD

The following terms and conditions govern your use of the RUCARDS Non-Reloadable Visa/Rupay Prepaid Card. By purchasing, activating, signing, or using the Card, you agree to abide by these terms, including the associated fees outlined below.

Card Issuer: The card is issued by Crescent Business Solutions Pvt. Ltd. (operating as Rucards). For inquiries about your Card balance, current terms and conditions, expiry date, or to file a complaint, you can contact Rucards customer service at +91 2249647700 at no charge.

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.

5. ISSUANCE AND USAGE OF THE CARD

a) The Customer fully and irrevocably authorizes Rucards to deliver and hand over the cards to either the Customer or the entity designated to distribute them to their own customers. Rucards will not be held liable or responsible for any actions or omissions by the entity related to the delivery of the card to the Customer.

b) Rucards and Merchant Establishments reserve the right to refuse acceptance of the card at any time and for any reason, without prior notice to the Customer.

c) The Rucards is intended solely for legitimate personal or official use. It is understood that charges incurred at certain Merchant Establishments may include additional fees for services or other facilities offered by those establishments.

d) The Customer must sign and keep all charge slips generated for each transaction made at a Merchant Establishment. Rucards is not obligated to provide copies of charge slips or transaction slips to the Customer. Any request for such copies will be at Rucards' sole discretion and only if made by the Customer within forty-five (45) days of the transaction. The Customer agrees that Rucards may charge an additional fee for providing copies of the charge or transaction slips.

e) Any charges or costs imposed by the Merchant Establishment for a transaction must be settled directly by the Customer with the Merchant Establishment. Rucards will not be held liable or responsible, directly or indirectly, for any actions or omissions by the Merchant or for any charges or costs imposed by them related to the transaction.

f) All refunds or adjustments due to Merchant Establishments due to device errors or communication issues will be processed manually, and the Card Account will be credited after verification by Rucards in accordance with the applicable rules, regulations, and company policies. The Customer agrees that subsequent transactions will only be accepted or processed based on the available credit balance in the Card Account, without considering any disputed amounts under review by Rucards. The Customer agrees to fully indemnify Rucards for any loss or damage caused by dishonoring payment instructions due to insufficient funds in the Card Account. Rucards is entitled to deduct the amount of such loss or damage directly from the Card Account.

g) The Customer acknowledges that any refunds related to failed, returned, rejected, or canceled transactions made using other payment instruments cannot be credited to the Rucards.

h) The Cardholder agrees to always act in good faith in all dealings related to the Rucards. The Customer accepts full responsibility for any illegal or unauthorized use of the Rucards in violation of these Terms and Conditions and agrees to indemnify Rucards for any loss, damage, interest, conversion, or other financial charges Rucards may incur or suffer, whether directly or indirectly, as a result of the Customer violating these Terms and Conditions.

i) The Customer agrees not to use the Rucards to make payments for goods or services that are illegal under applicable laws. The Rucards cannot be used to purchase prohibited or illegal products or services.

j) The Customer acknowledges and agrees that Rucards will not load or reload the card with an amount exceeding the specified limit for the account type (Full KYC or Minimum KYC).

k) The Customer acknowledges and agrees that if there are no transactions on the Rucards for a consecutive period, and the card is still valid, Rucards will make the card inactive after notifying the Customer. The card can only be reactivated by Rucards after completing the necessary validations and due diligence, as determined by Rucards from time to time.

l) The Customer agrees to receive SMS or email alerts from Rucards for all transactions made using the Rucards. These alerts will provide information about debit and credit transactions, the available or remaining balance on the Rucards, or other details as specified by Rucards from time to time.

m) The Customer agrees and confirms that the Personal Identification Number (“PIN”) must never be disclosed to any family members, relatives, or third parties. The Customer will be solely responsible for any consequences resulting from the unauthorized disclosure or use of the PIN and/or the Rucards. The Customer disclaims any responsibility or liability for Rucards in connection with unauthorized use of the Rucards or any loss or damage, direct or indirect, incurred by Rucards due to such misuse. If the Customer forgets or misplaces the PIN, they should immediately apply in writing or contact the Customer Care Centre for a new PIN. The new PIN will be sent to the Customer's registered email address on file with Rucards.

n) The Customer agrees that Rucards may, at its sole discretion, engage external service providers or agents on terms deemed necessary or appropriate for the provision of its services.

o) The Customer will have access to the Frequently Asked Questions (“FAQ”) section, as updated by Rucards on its website from time to time.



6. BREACH

a) If the Customer breaches these Terms and Conditions, Rucards reserves the right to immediately cancel or terminate the card, program, or business relationship, without any further claim, demand, or dispute against Rucards.

b) The Customer agrees to indemnify Rucards for any loss, damage, claim, penalty, cost, charge, or expense (including legal fees) that Rucards may incur or suffer, directly or indirectly, as a result of the Customer's breach of these Terms and Conditions.



7. TERM & TERMINATION

a) The Rucards will remain valid for a period of three (3) years from the date of printing or until the expiration date printed on the card.

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

c) The Customer may request the termination of the Rucards at any time by providing Rucards with a written notice thirty (30) days in advance, except when the Customer requests the card to be hotlisted or blocked, in which case the card will be terminated and/or canceled immediately.

d) The Customer understands that the termination notice will not be effective until the Rucards has been defaced by cutting off the top right-hand corner, ensuring both the hologram and the magnetic strip are cut, and the card has been destroyed or returned to Rucards. The Customer agrees to remain liable for any charges incurred on the Rucards prior to its termination, regardless of whether the Customer has destroyed or claims to have destroyed the card.

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 withdraw the privileges associated with the Rucards and/or terminate the card, either temporarily or permanently, at any time, without prior notice or providing any reason. If the privileges are temporarily withdrawn, Rucards may reinstate them at its discretion. In the case of permanent withdrawal, Rucards has the right to permanently cancel the card. It is expressly stated that such withdrawal (whether temporary or permanent) will automatically result in the loss of all benefits, privileges, and services associated with the card. The Customer agrees that, even if the Rucards are temporarily or permanently withdrawn, they will remain fully liable for all charges incurred on the card before the withdrawal, along with any other applicable charges, unless specified otherwise by Rucards.

g) If Rucards temporarily or permanently withdraws the privileges or terminates the card, it will make best efforts to promptly notify the Customer. However, Rucards will not be held liable for any delays or failure in the receipt of such notification.

h) Upon termination of the Rucards, the remaining balance, if any, in the Card Account will be refunded to the Customer, subject to applicable charges, through a Pay Order or Demand Draft drawn in favor of the Customer. The Customer must submit a written request to Rucards for the refund of the balance amount.

8. 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.

9. CHARGES

Charges shall include:

a) Any fees charged by Rucards related to the Rucards, including replacement, renewal, handling, and other applicable fees, are non-refundable, non-transferable, and non-assignable.

b) Service charges may apply to certain types of transactions. The method for calculating these charges will be communicated by Rucards on its website, “rucards.in,” from time to time.

c) All charges, in the absence of a clear error, will be final, binding on the Customer, and considered conclusive.

d) The Customer is responsible for paying all statutory taxes, goods and services tax, and any other duties (including stamp duty, registration charges, or other taxes) that may be imposed by the government or any other authority in relation to the Rucards.

10. 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.

11. LOST, STOLEN OR MISUSED RUCARDS:

a) If the card is lost or stolen, the Customer must immediately notify the Customer Care Centre and request the suspension of the card.

b) The Customer acknowledges that once the Rucards is reported as lost, stolen, or damaged, it cannot be used again, even if it is subsequently found.The Customer is responsible for the security of the card and must take all necessary precautions to prevent misuse. If Rucards determines or receives information that the Customer has failed to take the necessary actions in case of loss, theft, or damage, Rucards reserves the right to cancel or terminate the card.

c) The Customer will not be held liable for any unauthorized transactions on the card after it has been reported as lost, stolen, or damaged. Any liabilities incurred on the card after such a report will be borne by Rucards. However, in case of a dispute regarding the timing of the report or transactions made after the card was reported lost, stolen, or misused, the decision of Rucards will be final and binding on the Customer.

12. 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.

13. DISPUTED TRANSACTIONS

a) Any charge, transaction slip, or other payment request received by Rucards for payment will serve as conclusive proof of the charge, unless the card has been lost, stolen, or fraudulently used, as evidenced by the Customer.

b) Any disputes regarding transactions related to the Rucards must be reported to the Customer Care Centre within fifteen (15) days from the date of the disputed transaction. The Customer acknowledges that Rucards will not accept any requests made after this 15-day period.

14. 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

15. DISCLOSURES

a) The Customer acknowledges and consents to the sharing of information related to the Customer and the use of the Rucards with banks, financial institutions, or statutory and regulatory authorities.

b) The Customer agrees that Rucards may report any delinquencies or card usage to banks, financial institutions, or statutory and regulatory authorities. Rucards is not obligated to disclose to the Customer the identities of such entities or the extent of information shared.

The Customer authorizes Rucards and its representatives to exchange, share, or disclose all information related to the Customer's details and payment history with Rucards' group companies or affiliates.

16. 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.

17. 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.

18. 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

19. 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.