For Mobilink Microfinance Bank Mobile Account
Terms & Conditions
The use of the word “bank” or “MMBL” in the context of the Terms and Conditions (ـ “Terms”) will be used as a reference to Mobilink Microfinance Bank Ltd.
The following conditions constitute the agreement between the Branchless Banking Account Holder (the, “Customer”) and the MMBL to open and operate a Branchless Banking Account (the, “Account”). Branchless banking services (the, “Services”) can be availed through any channel including but not limited to MMBL’s branches and/or Mobile Phone and/or Internet and/or ATM and/or agents appointed by MMBL across Pakistan.
The customer is obliged to provide correct information and instructions to the bank while initiating send money transaction to any person and shall remain responsible and liable (at his/her/their own) in case of any intentional and/or unintentional wrong information and/or mistake of any nature whatsoever
The Customer may avail through main menu of mobile account for any savings plan subject to approval by MMBL.
According to the bank policy, no overdraft / credit facility is allowed to the customer till the overdraft / credit limit is approved.
In order to access the account or Services, the customer must be a GSM mobile user and registered with the name given on the computerized National Identity Card.
The current limit of branchless banking account is as follows:
|Monthly Credit & Debit
|Yearly Credit & Debit
The listed limits can be extended according to the given level. The Customer can call MMBL’s call center to get the latest information about the products and the limits.
Electronic funds transfer (EFT:))To avail EFT services, the Customer must be a Global System for mobile communication GSM mobile user and registered with the name given on the computerized national identity card.
The Customer must ensure that the telephone and mobile operators in use meet the criteria required to open this account and continue services.
MMBL reserves the right to terminate the provision of Services at any time, without giving any reason and/or notice.
Account opening will require proper customer identification / KYC, which will depend on the bank policy, its procedures and the guidelines of the regulatory authority.
Each account will have a specific account number, which will be the Customer’s mobile number, it will be necessary to refer to this account number when contacting the bank regarding the account and services.
The Customer will unconditionally ensure that they keep their Mobile Personal Identification Number (MPIN) and all other information provided confidential and will not give any unauthorized person access to their mobile phone or MPIN at all.
MMBL shall not be held liable or responsible, in case any loss of any nature whatsoever incurred to the Customer due to compromise of Customer’s MPIN and/or mobile phone and/or Subscriber identification module SIM by the Customer. Moreover, MMBL shall consider any and/or all transaction valid and execute the same, initiated by the Customer’s mobile phone with his/her MPIN.
The mobile number provided by the customer should be registered according to the name on the computerized national identity card (CNIC) of the Customer. In case of incorrect/false information, the Bank has the power to block the account, close it or impose penalty on the customer.
The customer will take all necessary precautions to prevent unauthorized and illegal use of his account.
The customer’s registered mobile phone or SIM will be used exclusively by the user and he will take all necessary precautions to ensure that it is not lost or stolen or misused. In case of loss or theft of the registered phone, the customer will immediately notify his mobile operator and request to block it so that misuse of this phone or SIM can be prevented. The Customer shall also inform MMBLand in case the Customer remains unable to do so, MMBL will not be liable for any claims, charges, costs, losses (including third party claims) or damages of the Customer.
The customer will expressly agree that the bank is not required to send an annual statement to the account holder, however view option of last 5 transactions will be available for Customer through his/her mobile phone without any charges.
If the customer is convinced that his account or information has been accessed without his consent or that his MPIN has been misused, he will immediately contact MMBL so that his account can be verified or blocked.
Accounts contain special deposits, withdrawals, balances, bill payments, and transaction limits that the customer is notified by the bank from time to time.
Any deposit or withdrawal transaction that goes beyond the limit will be rejected.
Only one standard account will be opened on one CNIC and mobile number. Account limit is operated on CNIC basis and not on account basis. Other than that, one CNIC holder can have 2 Minor Accounts registered against their CNICs as well, as guardian of the 2 minors.
The minimum amount to be deposited and the required balance will be notified by the bank from time to time. In case of failure to maintain the amount deposited or balance, a penalty deemed appropriate by the bank may be imposed.
The customer is responsible for the accuracy of the information provided to MMBL for the account. MMBL does not accept any liability of any kind whether it is due to incorrect information provided by the customer or for any other reason. If it realizes that the information it provided to MMBL is incorrectly registered in Registration Form or any other means of communication, it is imperative that it immediately notifies MMBL in writing so that MMBL can make its “reasonable efforts.” Be able to correct the information provided wherever possible.
MMBL will not be required to independently verify the customer’s instructions, these instructions will be effective unless further instructions are received from the customer within the given time. MMBL will not be liable for any failure to comply with or refrain from any instructions.
The instructions given by the customer will be effective only after the confirmation of the customer under the proposed account procedure.
All MMBL records that are based on customer instructions are recorded, including the time of the transaction, the request for money transfer using the service, and the use of the account. The recorded material is a solid link to the transaction. There is also evidence and determines its accuracy, including customer instructions.
When a customer issues their payment instructions, it is immediately received by the MMBL, in which case the transaction will be considered final and the customer can raise no objection. Once transaction instructions have been received, they cannot be changed or modified.
MMBL may refuse to follow the instructions of the customer without giving any reason. In this regard, it is not bound to follow or follow any instructions of the customer and has full right to suspend all proceedings through appropriate process. if he realizes that the instructions given by the customer may directly or indirectly cause any harm or may require compensation before operating the account.
Customer agrees fully that he will not use the account or services for illegal or illegitimate purposes and will abide by all applicable laws and regulations for using the account, the customer is assured Advises:
It reserves the right to access its own accounts and services and to access the goods purchased through it.
He will provide the MMBL with the information required to maintain the account, improve the quality of services and provide complete guidance under the agreement entered into through MMBL.
The customer will also ensure that he does not disclose to any person, at any time, the account details held by MMBL, including the passwords, card numbers and MPIN provided by MMBL from time to time.
The responsibility for any illegal funds transfer and money laundering through the account will be borne entirely by the customer.
The concerns, duties and responsibilities accepted by the customer (for which MMBL is not responsible) relating to the account and services are as follows:
If a third party has access to the customer’s account, or has access to the account information, that third party can not only transfer funds from the customer’s account but also issue customer instructions. To minimize, the customer must ensure that they fully comply with the terms and conditions applicable to the MPIN.
Incidents such as fraud, embezzlement, hacking, etc. through electronic media are on the rise these days which can affect the payment instructions to the bank. MMBL is trying to prevent this and to ensure the safety of the customers. But complete guarantee cannot be given to prevent hacking and fraud. In case of any kind of fraudulent transaction or theft of MPIN and access to someone else’s account, the responsibility lies with the customer. And MMBL will not be responsible (directly or indirectly) in this regard.
Funds transfer and other services provided by MMBL may be disrupted due to issues related to the telecommunication network of mobile operators, MMBL or its subsidiaries or other affiliated entities, including climate change, sudden disasters. , Legal or regulatory laws, malfunctions in the telecommunications network or other issues that are beyond the control of the MMBL.
This account may be infected with any virus, malicious code, program or macro.
Other transactions may be interrupted in connection with the transfer or payment of funds to the persons concerned as per the instructions of the customer under the above mentioned issues and the transaction may not be completed despite the request. Will never hold the bank responsible.
MMBL or its affiliates will try to follow the customer’s instructions immediately but will not be responsible for any delays in the operational system.
The Bank strives to provide services in good faith and in good faith but will not be liable for any loss incurred, whether the loss is direct, indirect or accidental. Regardless of whether the claim is for loss of revenue, disruption of business or any other reference.
Illegal or improper use of your account will make the customer liable for the payment of financial compensation as determined by MMBL. This may result in suspension of the account on a partial or permanent basis. Any penalty imposed by the regulatory authority will apply to the use of the customer’s account.
MMBL will not be liable for any delay in e-statements and alerts sent to the customer under any circumstances nor will it be liable for any errors in the information contained in these statements and alerts, nor should it be explicitly understood or understood. It has been said that the statement will be provided to the customer only when he requests or requests it in writing.
Allows MMBL unconditional access to their accounts for banking and other transactions through customer accounts and services and gives MMBL the right to merge one or all accounts at its discretion and without notice. Can also determine the amount owed by the customer.
Any and all branchless banking products are provided by affiliates and the bank acts only as a payment facilitator. This amount is the amount of the purchase in the account including the charges imposed.
Will be debited from the account and credited to the account with the purchase amount.
MMBL may be involved in the processing of payment messages, and other information or communications sent by the customer or through another bank by the customer in accordance with the legal rules and regulations, by interfering with it. Can investigate or interrupt the transaction process.
The Bank reserves the right at its discretion to use the deposited money for investment, where it deems fit to use all funds for the banking business.
The Customer will be obliged to pay the MMBL from time to time for the use of the account and services (of which it will be informed).
The Bank may make changes in the schedule of charges from time to time as per the Branchless Banking Guidelines and the customers will be clearly informed about this.
If MNP (Mobile Number Portability) also has a service issue with customers who have a mobile number, the bank is not responsible at all.
The customer gives MMBL the option to self-deduct service charges from his account or send any bill to the customer which he is bound to pay within the stipulated period, in case of failure to pay bank service charges. Has the power to deduct, such as markup or interest, if any, and to withdraw money from your account without MMBL liability.
The Bank reserves the right to discharge expenses, fees, commissions, mark-up or interest, zakat, holding tax, stamp duty, tax, duty, other expenses or any other transaction from the Provincial and Federal Government from time to time without prior notice. Or any charges or expenses incurred on the use of the account can be deducted from the customer’s account itself. All applicable taxes will be collected as per the rules.
MMBL and the customer agree that if the customer opens another account with MMBL or subscribes to any other product or service of MMBL and its affiliates or MMBL adds any of its services or products and the customer uses it These terms will automatically apply to the service or product used by the customer.
The Customer agrees that MMBL or any of its affiliates, the personal information provided by it or any other information related to the account which is on the computer or in addition to the connection, any analysis regarding the account or services, credit scoring. Or use it for marketing or take action on it.
The Customer will also agree that MMBL will share such personal information with other entities such as telecommunications or electronic clearing networks for credit rating, audit, provision of services to a third party and for fraud prevention purposes. Can use it confidentially, as long as it is needed.
It is authorized to disclose such information regarding bank accounts or services as may be requested by agencies under a court order or competent authority or applicable law or in the event that they are used to protect the interests of the bank.
It will be important for the bank to properly inform the customers about the changes in the rules and regulations.
Any change in the Terms will be notified to the Customer via his website, Email, IVR, Voicemail or SMS sent to the Customer’s Mobile Phone. Such modifications or alterations may also be posted on the Bank premises. May continue to be required to be implemented by the Customer. Continued use of any existing or new service offered by MMBL shall be deemed to have been accepted by the Customer as amended to the Terms.
The grant and provision for any customer’s account or service is purely personal and cannot be transferred to anyone else in any way.
The customer can request termination of his account or service at any time by giving instructions to the bank in the manner prescribed by the MMBL. The entire responsibility for using the account rests with the customer.
Under the Zakat and Ushr Ordinance 1980, banks are required to maintain a fixed balance in their existing savings bank accounts, profit and lost sharing accounts and other such accounts which is equal to or more than the limit prescribed by the Administrator General Zakat. Zakat deduction will be applicable on it. In case the balance is maintained on the due date, it will be deducted in terms of Zakat.
In case of account closure, account closing charges will be levied on the balance in the account which will have to be paid to the customer by the Bank before the account is closed.
MMBL reserves the right to suspend or completely terminate the account provided to the customer or its services at any time. Yes, in addition to the death of the customer, bankruptcy or non-compliance with legal requirements, the bank may close his account or service.
In the event of a customer’s death, the agreement between the bank and the customer will automatically terminate upon receipt of a formal notice of his death by his heirs or trusted sources.
If the bank finds that the account given to the customer is not working satisfactorily, it reserves the right to terminate the account without giving any reason and in this regard it is not obliged to give the customer the reason. ۔
The bank has the power to correct incorrect entries and to notify the customer later.
In case of delay in receiving alerts after completion of the transaction at the end of the customer’s request, the bank will follow up with the concerned persons for resolution.
The customer will be responsible for the account that has been closed by sending an electronic notification to the customer’s registered mobile phone or email. If there was any money in the customer’s account at the time of account closure, it will be sent to the registered mobile number. The details of the transaction will be sent to the customer in case of money transfer. This will be a 12-digit transaction ID. After that the customer can easily receive the remaining amount in his account.
In the event of any change in the customer’s address, the customer must immediately notify the bank in writing, so that other persons who may be called agents for post office or delivery can easily deliver the letters. Otherwise In case of any delay or non-delivery, no liability will be imposed on the bank.
In case of inactivity for 12 months or if the customer’s National Identity Card is not recorded in the bank or branch as per the instructions of State Bank of Pakistan, it will be considered in the category of inactive or suspended account. The customer cannot make any transaction from this account however the recovery of loans or markup, permissible bank charges, government taxes or any court order has nothing to do with its suspension.
Any change of address can be requested during the inactive period of the account, but the status of the inactive account will not be changed. To restore the inactive account the customer can call the call center from his registered number. Where necessary, after the required verification process, the account will be activated for a temporary period of 48 hours for any financial transaction, after which it will be permanently restored.
When a bank receives a formal notice of death or bankruptcy of any account holder or is informed by a reliable source, the bank will immediately terminate operations from that account, unless it has a court order or court order. Account holder’s certificate of succession should not be received from.
If any amount deposited in the account remains inactive for 10 years, it will be forfeited by declaring these claims and in accordance with the provisions of the Banking Companies Ordinance 1962 and the directives of the State Bank of Pakistan. Will be handed over.
MMBL may publish general notices, which will be published on its website and in newspapers for all customers. Such notices will have the same effect for all customers. In addition, MMBL may use various means or channels. May issue notifications to customers for services or general instructions.
MMBL will have full authority to sell, NOVATE, assign or transfer (1) the rights and obligations of MMBL under the Agreement (2) all assets, liabilities, deposits and accounts and services offered under All services and facilities provided and (3) any security in favor of MMBL (including all guarantors) relating to any individual, including entities affiliated with MMBL, whether fully or partially operational and as prescribed by MMBL Any such sale, assignment or transfer shall be binding on the Customer and all other persons including Subsidiary Customers.
Customers agree to abide by the terms and conditions that are agreed upon between the bank and the buyer or recipient and concerning the sale or transfer of the account and services which may affect the bank.
The customer, his heirs, legal representatives, executors, administrators and successors are fully bound by these terms and are not entitled to transfer or assign any of their rights and responsibilities under the terms of the agreement entered into.
The customer will agree that MMBL has full authority to set off and lein, whether it be any lein or charges, in the present circumstances or in the future, the amount deposited in his or her other account, in his own name. Whether or not it is a joint account, to the extent of all outstanding liabilities arising out of the account and services that are extended or used by the customer.
The Customer shall reimburse MMBL and its affiliates for any loss incurred (1) in respect of all losses and expenses incurred by MMBL and its affiliates as a result of the customer’s instructions. (2) Customer Employees of MMBL or its affiliated entities, in the light of customer’s instructions, for all actions, claims, demands, actions, damages, costs, compensation, etc., to MMBL and its affiliated entities for providing accounts and services to, any action taken by agents and officers.
In case of any wrong transaction made by the customer, in case of action or lawsuits by MMBL or its affiliated entities, the customer agrees to pay damages or compensation to MMBL and its affiliates. Neither the bank nor its affiliates will take any such action.
If the agent makes a mistake in providing the services, the customer will not be liable at all, provided the customer follows all the procedures laid down by the bank and the bank investigations and disputes. MMBL, its employees, directors, its representatives, and its affiliates will not be liable for any loss if the customer does not comply with all of these terms and conditions. For example, forgetting the customer’s MPIN, misusing it, committing fraud in it, in such a case all the responsibility will be on the customer.
If the customer feels that MMBL is discharging its responsibilities directly or indirectly, or that profits are declining, then customer complaints will be considered.
The Customer shall be responsible for any loss of access to the Customer’s Account, and for any reason, negligence or tampering and shall ensure that in the event of such loss Directly responsible for paying the bank compensation or everything.
In the above situation, the customer will pay MMBL and its affiliates the amount determined to be sufficient to compensate them against the above loss or expense, even if the renewal is not permanent.
The Customer acknowledges and agrees that the Services may be downloaded to the Customer’s Mobile with any software provided by MMBL as well as other related electronic services. The software required to access the accounts is the property of MMBL and its affiliates, and they have full ownership rights to it. Any modification, translation, No attempt will be made to de-compile, or reverse engineering, and no other software-based products will be developed.
NextGen Account Terms & Conditions
This minor account with MMBL allows the account holder, from here onwards called “Minor” (within the age bracket of 12 to 17 years and 10 months), to have an account opened under the supervision of his father, mother or guardian, from here onwards called the “Guardian”.
- NextGen account will be an individual account in the name of the Minor and he will be the beneficiary of the deposits made to the account.
- The Guardian agrees to provide his “Know your customer” details as per SBP regulations.
- Guardian understands that NextGen account cannot be closed on request by Minor until child reaches the age of 18 years unless the child migrate to a foreign country which documentary proof will be submitted to the bank to such effect or at the instance of any court or administrative order to close, freeze or suspend dealings of the above account without prior notice to MMBL, without being liable for any breach of any duty bank may owe to him.
- If any time, any provision hereof become illegal, invalid or unenforceable in any respect; neither the legality, validity or enforceability of the remaining provisions shall be affected or impaired thereby.
- These terms and conditions shall be governed by and construed in accordance with the laws of Pakistan and hereby irrevocably submit to the non-exclusive jurisdiction of the courts of Pakistan.
- Upon attaining the age of majority by the Minor, the minor will be required to open standard mobile account (L0 or L1) with MMBL by visiting MMBL’s branch and/or retail network so that his/her balance/deposit in the minor account can be transferred. MMBL shall have right to block/freeze minor account upon the Minor attain the age of majority. The Minor shall be required to obtain valid CNIC and biometric verification and shall also provide all necessary documentation to MMBL including KYC requirement with respect to opening of standard mobile account with MMBL.
- In the event of death of a Minor Accountholder, the Account and/or the JazzCash NextGen Account, as the case may be, shall be classified as a deceased account and account operations shall be suspended. The credit balance therein shall be payable to the legal heirs of the deceased Minor Accountholder in accordance with a duly issued succession certificate.
- In the event of the death of a guardian of a JazzCash NextGen Account, if the minor has not attained the age of majority then account operation shall be suspended until the minor attains age of majority or a court appoints a guardian for operation of such account, in accordance with a certified copy of court order for appointment of a guardian for operation of such bank account. If the minor has attained age of majority, the account shall be subject to clause 6 of the Terms & Conditions.
- Cash withdrawals or Point of Sale transactions through JazzCash NextGen shall be subject to the same limits as that are assigned to any standard L0 or an L1 account, depending on the status of that account. The Bank reserves the right to revise the operational limit on Account from time to time.
- Account Holders may use JazzCash services to avail services currently available through USSD, Mobile App or Retailer except for Digital Lending. Bank reserves the right to restrict any service, change limits of minor account without prior intimation at its sole discretion.
- JazzCash NextGen Account may only be opened for minors between the ages of 12 & 17 years and10 months, this age limit can be changed at any time by the bank.
- Guardian acknowledges that he is completely responsible for the NextGen account(s) being registered against his CNIC & that in case of any fraudulent or ambiguous activity performed by the minor’s account, he shall be held responsible.
- The Bank reserves the right to amend these rules, add any rules at any time and in any manner which the bank deems necessary with or without any notice to the constituents or the public and I undertake to abide by same.
I assure you that as per the Bank’s policy I may use the facility of verbal instruction for my account and services through telephone, fax and other electronic means. I also unconditionally agree that such I will fully agree with the bank on the accuracy of any instructions and the bank’s implementation of the account and services. I also unconditionally endorse that I will not give access to my account and services or the NextGen account(s) registered at my CNIC, to any third party or any fraud or I will make a claim to the bank in case of illegal action. I also confirm that the instructions given to MMBL by me, or any dispute or any kind of action or fraud may be used in court proceedings and I also assure you that I will not make responsible for any liability, damages, wrongdoing, action, claim expenses, liabilities through me, the bank has the authority to ignore or suspend any instruction received from me and as a result of the account and services the bank has the option to deduct its expenses, charges or dues, along with other amounts directly from my account. can
I further affirm that the provision of such instructions and services will be in accordance with the internal policies of the Bank which may be amended by the Bank from time to time at its own and/or as per applicable laws/regulations.
I also assure you that I will fully comply with the applicable terms and conditions for the provision of the account and services. I will be liable for the entire liability and in such a case I will be obliged to pay the bank in full or in kind. I also assure you that all my data in the form Absolutely accurate and no information has been withheld that could affect the future decision to expand the account facilities and services between me and MMBL.
The purpose of this agreement and the terms “account” and “services” used in it are the banking services and products that MMBL offers from time to time via mobile phone. This agreement is an important part of our agreement Will be made which may be modified from time to time.
I understand that the information I have provided fully complies with the terms and conditions that are necessary for a good relationship between MMBL and the account holder and determines that MMBL will somehow use and share the information I provide.
I acknowledge that information on the account holder and any marked account may be provided to the tax authorities of the country. If the account holder is a taxpayer of another country and there is an intergovernmental agreement with that country, Information can also be provided to the country’s tech authorities.