- Meaning of Words
1.1 In these Terms and Conditions, a number of words
and phrases are printed in bold type because they
have a special meaning, which is explained here or in
the Specific Terms and Conditions:
Account means your State Bank of India account(s)
and services taken with us from time to time;
Authorised Signatory means the Account holder(s)
in case of an individual Account and a designated
person or persons who are allowed to operate the
Accounts on behalf of a firm or organisation;
Banking Hours means the hours the Branch with
whom you are dealing is open for business;
Base Rate means the base rate set by the Bank of
England or any successor authority that takes over
responsibility for setting such a rate;
BIC or Swift code is an alphanumeric code of 8 or 11
characters used for making international payments
through the swift system;
Branch(es) means the UK branches of State Bank of
CHAPS means the Clearing House Automated
Cut-off Time means the UK time within which a
transaction or a request should be made by you in
order to be processed on the same Working Day.
Cut-off Time depends on the cut-off time for the
particular method of making or receiving payments.
Cut-off Time also depends on the currency in which
the payment is to be made or received. Details of the
Cut-off times are given in the Cut-off Time Leaflet
and are also available on www.sbiuk.com;
Cut-off Time Leaflet means details of cut-off times
for various payment methods as amended from time
to time in accordance with the General Terms and
Conditions and provided to you at the time of
opening the Account;
FCA means the Financial Conduct Authority and any
successor bodies from time to time;
General Terms and Conditions means the general
terms and conditions applying to your Account and dealings with us and set out in Part 1 of these Terms
IBAN (International Bank Account Number) is a
unique identification number issued by us for a
customer Account which has the bank branch
identification along with the Account number;
Sort Code is a 6 digit identifier code used for making
bank to bank payments within the UK;
Specific Terms and Conditions means the product
specific terms and conditions relating to your Account.
These are made available to you at the time of
opening an Account, are displayed on our Website,
and there are also Specific Terms and Conditions
contained in Part 2 of these Terms and Conditions;
State Bank of India (SBI) means State Bank of India UK;
Tariff of Charges means the schedule of charges as
amended from time to time in accordance with the
General Terms and Conditions and provided to you
at the time of opening the Account;
Terms and Conditions means this document, consisting
of Parts 1 & 2, Specific Terms and Conditions, our
Tariff of Charges and our application form;
UK means the United Kingdom;
Unclaimed Balance Account is as defined in section
Website means our internet presence at www.sbiuk.com
and for internet banking www.onlineSBIglobal.com and
such replacement URLs as we may direct you to from
time to time;
Working Days means Monday to Friday except public
"we", "us" "our" and "State Bank of India" means
State Bank of India registered at Companies House
with foreign company registration number FC004460
and UK established branch number BR000696
registered at 15 King Street, London, EC2V 8EA; and
"you" and "your" refers to each person who is named
as the Account holder and it refers to any company
or other business entity which is an Account holder.
If there is more than one of you then it refers to all of
you individually and jointly. We explain more about
what this means for joint Account holders in sections
4 and 19.1 below.
1.2 Where there is a conflict between the General Terms
and Conditions and the Specific Terms and Conditions
the Specific Terms and Conditions shall apply.
Opening an Account
2.1 Accounts can be opened by individuals, partnership
firms, companies, charitable organisations, trusts
or any other organisations formed within the legal
2.2 Our application form for the Account for which you
are applying will contain the eligibility criteria for
opening that Account. You should read the application
carefully to ensure that you are eligible. The information
contained in the application form, including that
filled in by you, forms part of our contract. If you
have any queries please contact us on 0800 532 532.
2.3 All the interest we pay you on or after 6 April 2016 will be without any tax deducted i.e. paid at gross rate.
If the total amount of interest you receive exceeds any Personal Savings Allowance to which you are entitled, you may have to pay tax at the applicable rate. It is your responsibility to ensure that this tax is paid. This would need to be paid directly to HM Revenue & Customs (‘HMRC’). For more information, please visit gov.uk.
2.4 The agreement between us relating to the Account is
made up of these Terms and Conditions and includes
any other special conditions (such as interest rates,
notice periods and charges) whether on our Website
or in paper form. Please see sections 8.2, 8.3 and 17
for details of when we may make changes to these
Terms and Conditions or your Account.
Proof of your identity and address
3.1 When you open an Account with us, we will need to
carry out paper-based and/or electronic checks on
you in order to obtain sufficient proof of your identity
and address to enable us to satisfy our legal obligations
and protect you, the public and us against fraud and
misuse of the banking system. Please note that in
some instances we may need to ask you to send in
further information or documents or ask you to visit
your local Branch. From time to time we may also
need to update the proof of identity and address we
hold for you or make any other enquiries necessary.
Where paper-based documents are requested or provided
they must be either originals or certified copies.
3.2 We will not open an Account if you do not satisfy
our requirements in relation to establishing your
identity under relevant anti-money laundering legislation
and in the event that we do refuse under this section
3.2 to open an Account, we will refund any monies
received to you without interest or charge, provided
that we are permitted to do so under applicable anti-money laundering legislation.
3.3 You may have more than one Account with us and
these Terms and Conditions will apply to each
Account unless you are otherwise notified.
- Joint Accounts
4.1 Anyone who is eligible to open an Account with us
may be accepted by us to open a joint Account.
4.2 For joint Account holders, the interest is paid by us at gross rate without deducting tax. Please refer section 2.3 above for further details.
4.3 Each joint Account holder is responsible for complying
with these Terms and Conditions. If one of you
breaks any of the terms of your agreement with us
we are able to take action against any or all of you.
4.4 If we find out that any one of you is declared bankrupt,
we may put a hold on the joint Account and refuse
to pay out any amount from it until we receive
instructions from the Account holder who has not
become bankrupt and the person appointed to handle
the bankrupt person’s assets.
4.5 We will send (on paper or, if requested, by email)
statements to each of the Account holders, but you
can opt out of receiving more than one statement,
in which case we will send the statement relating to
your Account to the first named Account holder,
unless you otherwise advise us. If you opt out of
receiving more than one statement then a notice to the
first named Account holder/the one Account holder
counts as a notice to all of you.
4.6 Unless you have previously given us instructions to
the contrary, we are entitled to accept the authority
of any joint Account holder to give instructions on
behalf of all other Account holders relating to the
Account until it is cancelled by any such other joint Account holders, or treated by us as cancelled as
described in section 4.7 or by operation of law.
4.7 If any one of the joint Account holders tells us of a
dispute between them, we may treat this as notice
of cancellation of the authority of any single joint
Account holder. If we do, any further transactions will
need the authority of all the joint Account holders.
4.8 In the event of the death of any joint Account
holder, then subject to any rights we or a third party
may have, any money in the Account will be at the
disposal of the survivor(s).
4.9 We may make information about a joint Account
available to any other joint Account holder by
telephone, letter, e-mail or over the internet if you
subscribe to internet banking on our Website.
5.1 Any request or instruction should be given in writing
signed by the Authorised Signatory. Firms, companies
and other organisations should use their letterhead in
giving instructions. We do not accept instructions by
email or over the telephone.
5.2 Unless agreed in writing with us personal customers
may not issue instructions by fax or as a scanned
copy by email.
5.3 Instructions by fax and/or as a scanned copy by email
can only be accepted from corporate customers if we
have agreed to this in writing.
5.4 All instructions given to us should be in English.
- Third Party Mandates
6.1 The Account holder(s) can authorise another person to
operate the Account by executing a third party mandate
in our standard format. The Account holder(s) will
continue to be responsible for the actions or omissions
of the mandate holder. For security reasons, we may
not allow a mandate holder, to access some services
through some of the channels. Where we make these
services available, that mandate holder may use your
security details. However, we will not treat this as you
breaking your security obligations
- Paying into your Account
7.1 Once your Account is open, you can make further
payments into your Account:
by instructing another bank or building society to
make an electronic BACS transfer from your account
with them to your Account with us;
by visiting one of our Branches and depositing a
cheque or cash with one of our cashiers;
by bank credit across the counter at any UK bank
or building society using one of our paying-in slips.
These institutions may charge for the service;
by standing order through another bank or building
by post with a paying-in slip or letter to your Account
holding Branch. Please do not send cash by post;
by CHAPS, an electronic same-day payments system,
within the UK; or
by international electronic transfer from other countries.
Please ask us for details.
7.2 When you pay cash directly into your Account at one
of our Branches, the funds will be credited to your
Account and available for withdrawal immediately,
provided the cash is in Sterling and we receive the
funds before the Cut-Off Time.
7.3 Cash is accepted only at our Branch counters and
during our Banking Hours subject to satisfactory
proof of source of funds. Cash handling charges apply
as set out in our Tariff of Charges.
7.4 When you make an electronic transfer into your
Account through another bank, the funds will normally be
credited to your Account and available to withdraw
on the Working Day we receive them provided that
we receive the funds before the Cut-Off Time.
7.5 Paying into your Account may take longer in certain circumstances. Please see section 10.1 for details.
7.6 Paying in by cheque
7.6.1 When you pay a cheque into your Account through
another bank, the value of the cheque is added to
your Account balance on the date we receive the
cheque, which is normally two Working Days after
you have paid it in. When you send a cheque to us
by post, the value of the cheque is added to your
Account balance on the date we receive it and pay it
into your Account. In both cases, they are ‘uncleared’
funds and not yet available to you for withdrawal. We
must first ask the bank of the person who issued the
cheque to confirm they will pay us the value (to ‘clear’
the cheque). If the other bank refuses to pay us its value,
the value of the cheque is deducted from your Account
as at the date it was added. Please see section 7.7.1
for details on when a cheque drawn in sterling on a UK
Bank is cleared. A ‘foreign cheque’ (by that we mean
a cheque issued by a non UK Bank, or in a foreign
currency) may take longer to clear.
7.6.2 You will start to earn interest on the cheque on the
second Working Day after we have received the
cheque. The funds will be available for withdrawal on
the fourth Working Day after we receive the cheque.
7.7 Cleared funds
7.7.1 The value of the cheque, provided it is not a foreign
cheque as described in section 7.6.1 above, will
become ‘cleared’ funds after the end of the fifth
Working Day after the Working Day the funds were
added to your Account (provided the cheque is
deposited before the Cut-off Time on a Working
Day). This means that the funds cannot be reclaimed
from you as a result of a cheque being returned
unpaid after this time. The cheque clearing process is
often referred to as the 2-4-6 timescale, as this sets
the maximum timescales on when a cheque earns
interest, when cheque funds can be withdrawn and
when funds from a cheque can no longer be reclaimed.
Section 7.7.2 shows an example to help you
understand how this works practically:
7.7.2 For example, if we receive the cheque on Monday (day
0), then you will start earning interest on Wednesday
(day 2) and it will be available for you to withdraw on
the Friday (day 4), but you can be certain, unless you
are a knowing party to fraud, that the funds will not
be reclaimed from your Account as a result of the
cheque being returned unpaid if you wait until the end of the following Tuesday (day 6) before withdrawing
the cheque funds. Non Working Days are not counted
for the purposes of the cheque clearing cycle.
8.1 When you have money in your Account, you will be
eligible for credit interest. We will work this out on the
amount actually in your Account at close of business
each Working Day. You start earning interest on your
Account from the day that cash funds are added to
your Account. For interest on cheques that have not
yet cleared, see condition 7.6.2 above. Interest is
calculated on a daily basis according to our interest
rate schedule available from your local Branch or our
website (www.sbiuk.com). We credit interest in
accordance with these Terms and Conditions and
our interest rate schedule.
We may without prior notice change your interest rate
at any time with immediate effect for any of the
where your Account is linked to an external reference
rate (a publically available rate which we do not set,
for example, the Bank of England Base Rate), to
reflect changes in this reference rate; and/or
for any reason if the change benefits you. We will
inform you of changes made in this way in statements we provide you with periodically. See section 20 for
We will provide you with 2 months prior written notice
(or 14 days if permitted by applicable regulation/law),
if we change interest rates for any of the following
if there is a change in relevant law, regulation, code of
practice or to reflect a recommendation, requirement
or decision of any applicable court, ombudsman,
regulator or similar body;
to reflect changes or expected changes in the costs
we pay to others and/or changes in inflation, or the
costs of the services or facilities we provide;
to reflect any change in interest rates charged by
other UK competing banks or financial institutions;
to reflect any changes in money market interest rates
or the cost to us of money we lend;
to reflect any reorganisation of our business by it
being acquired by or by our acquiring another bank
or organisation (so that customers with similar
products can be treated in the same way);
to ensure we maintain financial strength and the
competitiveness of our business generally; and/or
to reflect any event beyond our reasonable control.
8.4 Any change we make to interest rates will be
proportionate to the circumstances giving rise to the
change. Changes to interest rates will now be made
in accordance with conditions 8.2 and 8.3 if we have
agreed a fixed rate of interest with you that applies to
8.5 If you do not accept the proposed change(s) to your
interest rate as set out in section 8.3, you must let us
know in writing before the change(s) take effect. You
have the right to terminate the contract as a result of
changes referred to in section 8.3 without any cost
or charge to you. If you wish to change or close your
Account due to notice of a reduction in rates, you
must notify us within the 2 month period. If you do
not notify us, we will consider that you have accepted
8.6 Information about our current interest rates, for
savings and current accounts, is available on our
Website, by telephoning us and by asking any member
of our staff at any of our Branches. When we change
the interest rate on your Account the old rate will
also be available to help you compare rates.
8.7 All the interest we pay you on or after 6 April 2016 will be without any tax deducted i.e. paid at gross rate. For further details please see section 2.3 above.
- Payments out of your Account
9.1 You can make payments from your Account as long
as there are enough available funds in your Account
to cover the payments. We will take into account any
other payments which we have paid or agreed to pay
from your Account that day, or which have been
authorised for that day, such as standing orders and
direct debits. When a payment or standing order is
due on a day which is not a normal Working Day,
we will make the payment on the next Working Day.
Please note that we may refuse to make payments
from one Account where there are insufficient available
funds irrespective of funds you may hold in other
Accounts with us. We will charge you a fee - as shown on
our Tariff of Charges - if we have to refuse a payment.
9.2 When you want to make payments from savings
Accounts which do not have a cheque facility, you
can either speak to one of our cashiers at our Branches
or send us a withdrawal form or letter telling us how
you would like the payment to be made. We can:
transfer funds to a specified account at another UK
bank in Sterling, whether single one off payments or
standing orders; please ensure that you provide us
with your beneficiary’s account details each time you want us to make a payment on your behalf. The
funds will be taken from your Account on the day we
initiate the payment in accordance with your request.
The funds will arrive in the beneficiary’s account
maximum by the end of the Next Working Day
following receipt of the instruction, provided it is
received before the Cut-off Time.
transfer funds by CHAPS, an electronic payments
system, to another bank account within the UK; funds
are cleared on the same day. Please refer to our Tariff
of Charges for our charges for this service.
transfer funds to a bank account in another country
by international electronic transfer. Please enquire
for further details. If you want to make a payment in
a currency other than sterling, please contact us and
we will advise you how this can be done, the exchange
rate we will apply and what our charges will be. The
bank receiving the payment may also impose charges
that are outside our control.
9.3 Payment may be made by the Account holder issuing a cheque wherever cheque books are issued by us.
Cheques should be issued in the currency of the
Account. We may not pay the cheque issued by you
if there are insufficient funds in your Account.
A cheque issued may not be paid due to other reasons
for example if the amount in words and figures differs,
it is out of date i.e. date on the cheque is more than
6 months prior to the date of presentation, it is post
dated, or the Authorised Signatory’s signature differs
to the one held in our records. The cheque may not be
paid if there is suspicion of any fraudulent activity.
9.4 You can request us to stop payment of a cheque
provided that you do so before it has been debited
to Your Account and we have not told the payee or
their bank that the cheque will be paid. Your request
to stop a cheque must also be received by our local
Branch, before 12 noon on a Working Day in order to
be processed on that day. Such request should be in
writing mentioning the Account and cheque details
and signed by the Authorised Signatory. There is
a charge for this service as set out in our Tariff of
Charges. You should take care when issuing a cheque
to prevent forgery. All our cheques are marked ‘A/C
Payee’ and are payable only through the payees
Account. You can request a banker’s cheque or draft
in your name or a third party by making a written
request. Charges as mentioned in our Tariff of Charges
will apply for the same.
9.5 Withdrawals may be allowed by way of direct debits
received through clearing where the Account has
9.6 Payments can be made by electronic transfer through
Swift by providing us with a written request signed
by you. You should provide your Account details
from which the payment will be made, the beneficiary’s
name, address and IBAN, correct details of the recipient
bank, including the bank’s Swift (BIC) address and
the purpose of remittance. For payments within the
UK, you must provide the account number and Sort
Code of the beneficiary’s bank. If there are funds
in the Account, payments will be made within one
Working Day of receiving your instructions provided
it is received before the Cut-off Time.
9.7 Any payment made by electronic transfer including
through Swift will be sent to the beneficiary’s bank
on the same day. However, the value date on which the beneficiary’s account will be credited will depend
on the beneficiary’s banker. In case of payments
requested in currencies other than the currency of the
Account, the currency conversion would be done at
our prevailing exchange rate applying on the day of
the conversion. We publish the indicative exchange
rate for rupees on our Website.
9.8 Payments made out of your Account are based on
the information provided by you. In case the information
provided by you is incorrect we will make reasonable
efforts to recover the funds involved in the payment
transaction and may charge you for any reasonable
costs incurred in recovering your funds.
9.9 We no longer accept standing orders for outward
payments from deposit Accounts.
9.10 Any outward payment request received after the
Cut-Off Time will be considered to have been
received on the next Working Day.
9.11 For security reasons, we may contact you by
telephone or by email to seek confirmation of a
payment request received through a messenger, by
post or by fax.
9.12 You must notify us of any loss suffered by you on
any Account or any unauthorised or incorrectly
executed payment transactions as soon as you
become aware of them but not later than 13 months
from the date of debit in the Account, otherwise we
shall not be liable to you. However, this condition
shall not apply if we fail to provide you with the
information of the payment in line with section 20.1
of these Terms and Conditions.
9.13 For payments involving currency conversion, the rate
we will apply will be the rate on offer on that day. The
rate is made available to you at our Branches or over
the telephone and on our Website. If a payment is
made involving foreign currency and the payment is
returned, we will reconvert the returned payment to
the original currency at our prevailing exchange rate
and credit your Account. We shall not be liable for
any loss in exchange on account of the conversion.
9.14 There may be occasions when an off-line transaction
means that your Account becomes overdrawn. In
such a case we will contact you and require you to
place funds into your Account to put it back into credit.
9.15 For withdrawals over the counter at Branches, you
must provide a proof of identity acceptable to us, and
the cheque book or withdrawal book for the account.
You can not use your Debit Card for withdrawals over
the counter. If you wish to withdraw cash over the
counter above a certain limit you will need to contact
your nearest Branch. The details of daily cash limit are
available in our branches and the amount is changed
from time to time.
- Transaction Processing Time
10.1 The processing time for payments into and out of
your Account may be more than the time set out in
sections 7 and 9 due to the following reasons:
defective request or insufficient, incomplete or
incorrect details in your instructions to us;
if your instructions in any way give rise to suspicion
in which case the matter would be investigated before
any decision is taken regarding application of funds;
to comply with our legal or regulatory obligations;
order by a competent court;
order or stipulation by any other law enforcing body;
business disruption on account of natural calamity,
riot, war, terrorist activity, industrial action, equipment
failure or any such event which is beyond our control.
10.2 In the above circumstances, we will not be liable for
any delay or loss suffered by the Account holder (s)
we have acted reasonably, including where lawful,
notifying you of the refusal or delay in making the
payment and the reasons why at the earliest
in the event that payment details are incorrect be
cause of an error made by you or a third party. In
such a case we will make reasonable efforts to recover
- Right of Set Off
11.1 We may use any Account/s held by you with us
which are in credit to reduce or repay any amount
you may owe to us in other Account/s held by you
in the same name. In the process we may appropriate
fixed deposit/s held by you with us for a certain
period along with the interest payable by us. In cases
where the credit balances are in a different currency
than the balances owed to us, then the currency
conversion would be done at our prevailing market rate.
11.2 If you hold a joint Account, and another Account
holder on this Account owes us money in relation to
another Account held with us in his/her name, we
can exercise our right of set off on the Account you
hold jointly with this Account holder.
- Cheques you issue
12.1 If your Account has a cheque facility and you issue
a cheque on your Account, it will normally be
deducted from your Account two Working Days
after the recipient pays it into their Account. For
example, a cheque paid in on a Monday will normally
be deducted from your Account on a Wednesday.
More time may be needed for a cheque paid into a
building society account or any bank outside England
and Wales, or any account held at a non-clearing bank.
13.1 When you open your Account, we will give you
details of our Tariff of Charges for the day to day
running of your Account. You can also find out about
these charges by contacting your Account holding
Branch or by looking at our Website.
13.2 If we increase any of these charges or introduce a
new charge, we will give you at least two months’
notice before the changes take effect. We will tell you
the charge for any other service or product before we
provide it to you, and at any time should you request it.
13.3 If any sum due and payable by you is not paid on the
due date, you will be liable to pay the interest (both
after, as well as before, any judgment) on such sum
at such a rate or rates as we will provide to you from
time to time from the date the payment is due up to
the date of payment.
13.4 Payments from your Account will be made in
accordance with the notice period applying to your
Account. You choose this notice period when you
open your Account. For example, if your Account is
on 90 calendar days’ notice, you will need to allow
90 calendar days from the day we receive your
instructions before we make the payment. You can
give notice for a withdrawal by telephone or fax.
However, we will only carry out the withdrawal if we
have received confirmation of your request in writing
(which also notes the date of your original call or fax)
before the date you want the payment to be made.
- Early Access Charge
14.1 Where restrictions on access apply to your Savings
Account, you may have early access to your savings
at short notice (a minimum of one Working Day) but,
unless we have agreed otherwise, we will charge you
the interest due on the amount withdrawn for the part
of your notice period for which you have not given
notice. So if you withdraw £500 on 15 calendar days’
notice from an Account set up on 90 calendar days’
notice, then the interest you would have earned on
that £500 for 75 calendar days (i.e. 90 - 15) will be
deducted from your Account. However this provision
will not apply and you will get a full capital refund if
your Account has been opened with us for less than
the notice period.
14.2 If you are a holder of a Fixed Deposit Account where
the terms or we allow premature withdrawals, you
may withdraw cash from your Fixed Deposit Account
as per the Specific Terms and Conditions for the
Fixed Deposit. Please refer to the Specific Terms and
Conditions for Fixed Deposits for further details.
14.3 If you are a holder of a Fixed Deposit, in the event of
your death, we will repay the capital value and
accrued interest without notice or loss of interest, but
only once we receive the necessary legal confirmation
of status and authority. If you hold a fixed deposit
jointly with another person or with other persons,
and if one of you should die, the survivor(s) may elect
to transfer the Account to their sole name(s) for the
remaining term or they may receive the capital value
and accrued interest without notice or loss of interest.
14.4 If you are a holder of a Fixed Deposit, in the event
that you are made bankrupt, we will repay the capital
value and accrued interest without notice or loss of
interest, but only once we receive the necessary legal
confirmation of the status and authority. Alternatively
and only if requested, the Fixed Deposit may continue
until the end of term. The same provisions apply
where you hold a Fixed Deposit jointly with another
person or with other persons and one party is made
bankrupt, although in these circumstances we will
require instructions from both the person appointed
to deal with the Bankrupt’s affairs and the joint Fixed
- Closing your Account
15.1 You may close your Account at any time upon
providing us with written notice in accordance with
15.2. Additionally for a period of 30 calendar days
after the date you open your Account with us, you
have the right to cancel your contract with us by closing
your Account. Subject to 14.1 and 14.2 above, the
funds deposited will be returned to you together with
any interest earned except for our Fixed Deposit and
Notice Account. No charges will be levied for
cancelling the Account within this initial 30 calendar
day period from Account opening.
15.2 Written notice of closure may be provided to us in
person at any of our Branches or sent by post to
State Bank of India, 15 King Street, London EC2V 8EA.
If sent by post, notice of closure must be accompanied
by certified copies of identification and proof of address.
15.3 We may close your Account if you:
do not comply with any of your important obligations
under these Terms and Conditions and do not put
this right within a reasonable time of our requesting
you to do so;
fail to operate your Account in accordance with an
important term in these Terms and Conditions;
regularly fail to ensure that there are sufficient
cleared funds in your Account to make requested
give us false information in relation to your Account;
are not entitled to open the Account(s);
move abroad and are no longer a UK resident;
have been made bankrupt; and/or
have behaved inappropriately or improperly towards
us or our staff (for example, in a threatening or
15.4 Subject to your Specific Terms and Conditions, we
will pay any balance due, together with interest at the
agreed rate, up to and including the date of repayment.
15.5 We will not use this clause 15 to close your Account
in the event that you make a valid complaint(s)
15.6 If your Account is closed for any reason and we
make a repayment to you, you will have no further
right(s) or interest in the Account.
15.7 Except for fixed rate bond (Fixed Deposits) Accounts
and Accounts with notice periods for withdrawals
you may terminate your Account without charge at
any time by writing to us.
15.8 If we close your Account, we will write to you and,
unless there are exceptional circumstances including
but not limited to unauthorised borrowing, we will
give you 2 months’ notice of our intention to close
your Account(s). We will repay any credit balance
to you and we may require you to repay any money
owed to us. Please see section 19 on your liability to
us and section 11 on our right to set off.
15.9 On maturity of a Fixed Deposit Account the proceeds
will be transferred according to your instructions.
Such instructions should be received in writing by us
at least 15 Working Days before the maturity date of
a Fixed Deposit. If we have not received any instructions
from you, we may transfer the proceeds to the linked
Current or Savings Account that you have with us.
- Dormant Accounts
16.1 If you have not made any transactions on your
Account for 9 months we shall attempt to contact
you. We may suspend operation of your Account if
you have not made any transactions on the Account for
at least 12 months. Before reactivation of a suspended
Account, you may be required to provide suitable
evidence in one of our Branches of your identity and
your legal claim on the Account.
Please note that a payment order initiated by a third
party on your Account during a period of dormancy
(for example a direct debit) may still be met if there
are sufficient funds in your Account.
16.2 If you have not made any transactions on your
account for 5 years despite our attempts to contact
you we will regard this as an unclaimed balance
(an Unclaimed Balance Account). If this occurs no
statements will be sent until reactivated. Before
reactivation of an Unclaimed Balance Account,
you will be required to provide suitable evidence in
one of our Branches of your identity and your legal
claim to the Account.
- Changes to these terms
17.1 Save for changes to interest rates (see Interest
sections 8.2 and 8.3 above) we may from time to
time amend our Terms and Conditions (including
our Tariff of Charges, our Cut-Off Time Leaflet and
our General and Specific Terms and Conditions) if
we reasonably believe that the change is needed for
any of the following reasons:
if the change is favourable to you;
to comply with our legal obligations;
to add new products by way of new Specific Terms
to reflect changes in general banking practice;
to reflect regulatory changes;
where required to do so, or to reflect a decision or
recommendation as the result of any ruling by
a competent Court or any other law enforcing body;
to reflect changes in costs associated with the relevant
technology, the costs we pay to others relating to
the Account or services and/or our costs of
providing the Account, service or facilities.
17.2 We will tell you about any changes to these Terms
and Conditions and when they come into effect and
you agree that we may do so by placing a notice with
your statement, on the website, by email or by post.
17.3 If we decide to make any change to these Terms
and Conditions we will give you 2 months prior
notice of the change (or 14 days if permitted by
applicable regulations/ Law).
17.4 If the changes are not to your advantage you may
wish to close your Account within 30 calendar days
of the date of the notice of the changes without
charge. If you reject the proposed changes, we may
take this as a rejection of the contract with us and a
notice of termination. We will contact you before we
close your Account. If we do not hear from you, we
will consider that you have accepted the changes we
have made to the Terms and Conditions.
- Our liability to you
18.1 Subject to clause 18.2 below, if we do not carry out
your request or delay doing so or do not carry out
your request correctly, we will be liable for any direct
loss as a result including the amount of interest that
you did not receive from us as a result of our failure
or late action or mistake. For the avoidance of doubt,
if we make a mistake, we will without undue delay,
restore the account to the state in which it would
have been had the error not taken place. We will not
be responsible to you for any delay, indirect losses
or losses that we could not reasonably have expected
to foresee or to occur, or which result from the
circumstances set out in section 10.1 above, provided
that we have acted reasonably.
18.2 Our responsibility in relation to section 18.1 above is
subject to the following:
18.2.1 We will not be responsible to you for any loss you
may suffer if we are prevented from or delayed in
providing you with any banking or other services as
a result of compliance with laws preventing money
laundering, fraud or terrorist financing, industrial
action, availability of equipment or supplies, or
business disruption on account of natural calamity,
riot or terrorism.
18.3 We will be responsible for unauthorised payments
from the Account where:
you have informed us without delay of the
you have not acted fraudulently or been grossly
the unauthorised payment is not a result of a failure
by you to comply with the security obligations set
out in these Terms and Conditions and the security
recommendations on our Website. This includes (but
is not limited to) a failure by you to keep your password,
user name and memorable word, or other confidential
information about your Account secure.
18.4 However, where an unauthorised payment has taken
place as a result of the use of a lost or stolen payment
instrument or you failing to keep personalised features
of the payment instrument safe, you will be liable up
to a maximum of £50 for any losses incurred, subject
to the conditions in 18.3 above.
- Your liability to us
19.1 You are responsible for payment of any debt that arises
on your Account. If you have a joint Account, you
will each be responsible for any money owing on your
Account, both individually and jointly. This means
that if one of you is unable to repay the money
owing, the other Account holder(s) can be required to
pay the amount due in full, even if your relationship
has changed or ended. Where a joint Account holder
has an Account with us in their sole name, and that
Account has a credit balance, we can use money in
that Account to repay any money owing to us on the
19.2 If any Accounts you hold with us are in credit, we
may use the credit to reduce or repay any amounts
you owe on other Accounts you hold with us in the
same name. If we decide to do this, we will tell you
why and when it will be done.
19.3 You must compensate us for loss or damage which is
caused to us as a result of either of the following;
(a) You have acted fraudulently; or
(b) You have, intentionally or with gross intent, failed
to comply with your obligations regarding your
The amount paid by you under this condition will
represent a reasonable assessment of our losses.
This includes the reasonable costs incurred by us in
investigating and managing the matter as well as our
reasonable legal costs.
19.4 If a payment is made fraudulently or mistakenly
paid into your Account or if a rejection is received
from the payer’s Bank for a previously received
payment instruction, the amount of payment may
subsequently be deducted. This may happen even if
the funds are included in the balance of your
Account, you have used them to make a payment,
or have transferred or withdrawn all or part of them.
If the deduction of the payment from your Account
makes your Account overdrawn, we will treat this as
an unauthorized overdraft. If we do so, we will apply
interest and charges as applicable from time to time.
20.1 You can print a statement of Account using your
online banking and if you do not have access to
online banking, we will issue statements. We will
send you a statement quarterly and if requested,
on a monthly basis. You can also contact us and
request an up to date statement for your Account at
any time. We will charge a fee as set out in our Tariff
of Charges for supplying you with any duplicate
20.2 We recommend that you carefully check your
Account history regularly. If any entry appears to be
wrong, you should tell us as soon as possible.
- Internet banking
21.1 If you have indicated that you would like us to
provide internet banking services, the following
terms and conditions also apply for those Accounts
on which we offer internet banking.
21.2 This section 21 sets out the rules which apply to your
internet access to your Account(s), and explains our
obligations to you, and your obligations to us, when
operating these Accounts.
21.3 We offer internet banking facilities to all Account
holders. Please log on to https://www.onlinesbiglobal.com/64GB/web/Index.htm and download a
registration form for individual Accounts and
Corporate Registration form for company/business
Accounts. The completed registration form should
be sent to the Branch Manager where you have your
21.4 You will then be sent your User ID, password and
transaction password for internet banking.
‘Net Banking’ enables you to do the following:
view your Account online;
transfer funds between Accounts (where the currency
is the same in both Accounts);
make payments (subject to any financial limits
request cheque books; and
deal with other related enquiries.
21.5 We may add further services from time to time to
our ‘Net Banking’ offering.
21.6 Use of websites
21.6.1 You can access your Accounts through the Website
after you receive and confirm receipt to us of the
User ID and password sent to you by us. You must
change the password provided by us at the time of
first logging into internet banking on our Website.
21.6.2 Our internet banking service is available in respect
of all the Accounts you hold with us.
21.6.3 All requests received from you are logged and
transmitted to your local Branch for their fulfilment.
The requests become effective from the time these
are recorded/registered at the respective Branch.
applicable to the relevant Website will apply.
21.7 Availability of internet banking services
21.7.1 We work hard to make sure our internet banking
services are available at the times you wish to use
them. However, we cannot and do not guarantee
their availability, nor that access to, and use of, our
Websites will be uninterrupted or error free. From
time to time we may need to suspend provision of
the internet banking services for repair, maintenance
or upgrade purposes.
21.7.2 We will not, in any event, have any liability to you if
we are prevented from, or delayed in, providing any
internet banking services due to the failure of any
telecommunication link or other equipment or
infrastructure not owned or controlled exclusively by
us and/or any acts or omissions of third party
telecommunications or internet service providers.
21.8.1 For the purposes of this section 21 and the web
requirements, you agree to provide:
written confirmation of your request; and
all other instructions in relation to the operation
of your Account in writing (unless we have made
other specific and documented arrangements), you
can comply with these requirements by providing
us with the relevant details using your authenticated
security details on our Website.
21.8.2 However, please pay careful attention to the
security notice set out in the following section and
comply with it.
21.9 Security notice
21.9.1 Internet banking is safe and convenient as long as
you take a number of simple precautions, including
(but not limited to) the following:
keep your User ID and password secret. This
includes (but is not limited to) destroying any
password notification immediately after receipt
from us, never writing your password or User ID
details in a way that might be understood by
someone else or recording them on any item or in
any place that might be accessed by someone else
and taking all reasonable care to ensure that
no-one sees your password or username when you
you are advised to avoid choosing a password that is
generic in nature, guessable/inferable from personal
data such as name, date of birth, address, telephone
number, driving licence/car number etc;
treat e-mails you receive with caution and be very
wary of e-mails or calls asking you to reveal any
personal security details. We or the police will never
contact you to ask you for your internet banking
password or User ID information; and
always access our Website via the www.sbiuk.com
site or by typing the address into your web browser.
Please ensure that you double check the spelling
is correct when typing our address into the browser,
before using the Website that you are directed
to. We will never send you an e-mail with a link
through to our internet banking Website.
21.9.2 Visit www.banksafeonline.org.uk for more useful
21.9.3 There is no way to retrieve the password from the
system. In case you forget your password, you will
have to approach us to re-set the password.
21.9.4 Please remember that internet communications
are not secure unless the data being sent is encrypted.
We cannot accept any responsibility for any
unauthorised access by a third party and/or corruption
of data being sent to us by e-mail.
21.9.5 If you are a victim of internet fraud and someone
gains unauthorised access to your Account, then
we will refund the full amount of money taken from
your Account, provided each of the following
you have not given your security details (including
your password or username details) to anyone else;
the loss was not caused by your use of an account
aggregation service (i.e. a service provided by another
company that allows you to view all of your bank
details on a single website);
you have not sent us incorrect payment instructions;
you have used reasonable care when using internet
banking (e.g. logging off at the end of each internet
banking session and not leaving your computer
unattended while logged on to the internet banking
you inform us as soon as possible of any security
breach, or potential breach, of which you are aware;
you have not acted fraudulently;
you have taken the precautions described in these
Terms and Conditions and complied with all other
reasonable instructions we may give from time to
time regarding security details.
21.9.6 Our promise to compensate you in the circumstances
described above only extends to a refund of the
amount taken from your Account and does not
extend to any additional loss you may suffer in
consequence of any unauthorised access to your
21.10 Client browser
21.10.2 Any amendments to the functionality listed above
will be notified to you within your secure internet
banking session, before such changes are
21.11.1 Some specific conditions apply to transactions
processed through internet banking:
21.11.2 Transactions carried out in internet banking for
transfer of funds within the UK or bill payment
by the Cut-Off Time will be processed on the
same Working Day. Instructions received after
the Cut-Off Time will be processed on the next
Working Day. The transfer of funds or bill
payments will be made through the BACS payment
21.11.3 An instruction will only be accepted by us if it has
been effected through the internet service using
your User ID and password. We will not further
check the authenticity of an instruction.
21.11.4 We may refuse to act on an instruction, for example
if the transaction exceeds a particular value.
21.11.5 You may terminate your internet services by sending
a termination notice to us. Such termination will be
effective from the date we receive your notice.
21.11.6 Banking instructions to pay money from your
Account may not be cancelled once you have
authorised them and we have accepted them,
unless we agree to do so at our discretion. If we
do agree we may make a charge as set out in our
Tariff of Charges.
21.12 Joint Accounts
21.12.1 User ID and passwords information will be sent
to all Account holders separately on request, but
for the purposes of the General Terms and
Conditions and the requirements: (1) to provide
written confirmation of your request to make a
withdrawal from your Account; and (2) to provide
all other instructions in relation to the operation of
your Account in writing (unless we have made other
specific and documented arrangements), one of you
can comply with these requirements by providing
us with the relevant details using your authenticated
security details on our Website. However, please pay
careful attention to the security notice set out above.
21.12.2 If any of you inform us in writing of a dispute
between you, we will treat this information as
notice of termination of the mandate, thereby
suspending internet access. Any further
transactions will need the authority of all of you.
21.13.1 We may at any time vary or terminate some or
all of our internet banking services. In the case
of any material variation, or termination, we will
give you as much notice as we reasonably can in
the circumstances. Changes will be notified to you
through a notification on the Website.
21.13.2 For any help, please call our Internet Banking
Helpline on 0800 532 532 or write to us at
22.1 We will treat all your personal information as private
and confidential (even when you are no longer a
customer). Information we hold about you will not
be disclosed to anyone (including other companies
in our group) unless:
we are legally required to disclose;
we have a public duty to disclose;
our interests mean we must give the information
(for example, to prevent fraud). However, we will not
use this as a reason for giving information about
you or your Account (including your name and
address) to anyone else, including other companies
in our group for marketing purposes without your
the disclosure is made with your consent;
the disclosure is explained in section 23 below;
on the website.
- Data protection
23.1 State Bank of India is a data controller registered
with the Information Commissioner under number
23.2 In order to provide you with bank Accounts and
other products and services we need to collect, use,
share and store personal information about you
and your transactions ("Your Information"). This
section explains how we will use Your Information.
23.3 What Your Information includes
23.3.1 Your Information includes information which we:
obtain from you or third parties, such as employers,
joint Account holders, credit reference agencies,
fraud prevention agencies or other organisations
when you apply for an Account with us or for any
of our other products or services, or which you or
they give to us at any other time; or
learn from the way in which your Accounts with us
are administered and managed, from the transactions
made such as the date, amount, currency and the
name and type of supplier (for example, supermarket
services, medical services, transactions in assets,
retail services) and from the payments which are
made to and from your Accounts with us.
23.3.2 Where you provide personal and financial information
about others (such as dependents, other family
members and a joint Account holder) you confirm
that you have their consent or are otherwise entitled
to provide this information to us and for it to be used
in accordance with these Terms and Conditions.
23.4 How We Use Your Information
23.4.1 We and other companies in the State Bank of India
group of companies will use Your Information to
manage your Accounts, give you statements and
provide our services and products, for assessment
and analysis (including credit and/or behaviour
scoring, market and product analysis), to prevent
and detect fraud, money laundering and other
crime, to carry out regulatory checks, to meet our
legal obligations and our obligations to any relevant
regulatory authority, to develop and improve our
services to you and other customers and to protect
23.5 Use of Your Information for Marketing Purposes
23.5.1 With your permission we and other members of
the State Bank of India group of companies may
use Your Information to inform you by letter,
telephone, text messages, email and other
electronic methods about products and services
(including those of others) which may be of interest
to you. If you do not want us to contact you
about such products and services please let us
know by writing to us at State Bank of India 15
King Street London EC2V 8EA/emailing us at
23.6 Third parties with whom we may share Your
23.6.1 We may share Your Information with the following
third parties, wherever located:
other companies within the State Bank of India
group of companies (which means our subsidiaries,
our ultimate holding company and its subsidiaries);
our partners and companies and organisations
that provide services to us or assist us or act as our
agents including but not limited to sub-contractors
and professional advisors;
anyone to whom we may transfer our rights and/
or obligations under any agreement we have with
any third party as a result of any restructure, sale
or acquisition of any company within the State
Bank of India group of companies;
your advisers (including but not limited to
accountants, lawyers or other professional
advisors) where authorised by you;
credit reference agencies and fraud prevention
where we have a duty to do so, or if law or
regulation allows us to do so.
23.6.2 Save as set out above we will not disclose Your
Information to anyone unless the disclosure is
made with your consent.
23.7 Transfer of Your Information Overseas
23.7.1 We may transfer Your Information to another
company in the State Bank of India group of
companies or to a service provider or agent in
another country (including countries outside the
European Economic Area where data protection
laws may not be as strict as they are in the UK) for
the purposes stated in condition 23.4 above. We
will make sure that the group company, service
provider or agent agrees to apply the same levels
of protection as we are required to apply to Your
Information and to use Your Information in
accordance with our instructions.
23.8 Credit Reference Agencies and Fraud Prevent
23.8.1 We may give Your Information to and receive
information from credit reference agencies and fraud
prevention agencies. We and other organisations
may access and use this information to prevent
and detect fraud, money laundering and other
crimes, to make credit assessments and decisions
about credit related services to enable us to
manage and take decisions about your Accounts
and to recover debt.
23.8.2 Information held about you by the credit reference
agencies may already be linked to records relating
to your partner or members of your household
where a financial "association" has been created.
Any enquiry we make at a credit reference agency
may be assessed with reference to any associated
records. Another person’s record will be associated
with yours when:
you make a joint application;
you advise us of a financial association with another
if the credit reference agencies have existing linked
or "associate" records.
23.8.3 This "association" will be taken into account in all
future applications by either or both of you and
shall continue until one of you applies to the credit
reference agencies and is successful in filing
23.8.4 Credit reference agencies keep a record of our
enquiries and may record, use and give out
information we give them to other financial
institutions, insurers and other organisations.
If false or inaccurate information is provided or
fraud is suspected details may be passed to fraud
prevention and credit reference agencies. Law
enforcement agencies may access and use this
information. The information recorded by fraud
prevention agencies may be accessed and used by
organisations in a number of countries including
the UK. We can provide the names and addresses of
the credit reference and fraud prevention agencies
we use if you would like a copy of Your Information
held by them. Please contact us at The Retail Credit
Department, State Bank of India UK, 15 King Street
London EC2V 8EA if you want to receive details.
23.9 Right to receive a copy of Your Information
23.9.1 You can ask for a copy of your information by
writing to us at Customer care 15 King Street,
London, EC2V 8EA. We may charge an administration
fee to meet our costs in providing you with details
of your information.
23.10 Where to find further information
which provides further information about how we
use Your Information.
24.1 For all Accounts held in England and Wales, these
Terms and Conditions and any dispute or claim
arising out of it or its subject matter or formation
and any non contractual obligations arising out of
it is governed by the laws of England and Wales,
as are all our dealings with you until such time
as your Account is opened. For all Accounts held
in Scotland, Scottish law will apply instead. You
and we submit to the jurisdiction of the courts of
England and Wales (or Scotland, as appropriate)
to settle any dispute or claim arising out of or in
connection with these Terms and Conditions or its
subject matter or formation. The language we will
use in our communications will be English.
24.2 Please tell us straight away if you change your
name, address, or contact details. If we do not hold
correct information we may suspend your Account
to protect us both.
24.3 You agree that we may request additional
information from you or to check from time to
time that the existing information we have about
you is up to date, in order to meet our legal and
24.4 To ensure that we carry out your instructions
accurately and for compliance and training purposes,
we may monitor and/or record your telephone calls
with us. Any recordings remain our sole property.
24.5 You may not transfer any of your rights or obligations
in relation to your Account or assign or transfer
any Account or deposit. We may transfer all or any
of our rights in relation to your Account. We may
also transfer any of our obligations or arrange for
any other party to carry out our obligations, but
only to someone we reasonably consider capable
of performing them so that there is no reduction in
the service standard provided to you.
24.6 If we relax any of the terms and conditions this
may be a temporary measure or a special case and
we may enforce them again.
25.1 We may change our Banking Hours, availability
of banking Branches by display of notice in our
Branches or in the press or by post or by posting
on our Website.
25.2 We may block your Account to protect you and us
if we suspect fraud or other suspicious transactions.
In such cases, we may be required to carry out the
process of establishing your identity again. Once
we have sufficient proof, we will reactivate your
- Resolving your complaint
26.1 If we do not deliver the standard of service you
expect, or if you think we have made a mistake,
please let us know, so that we have the chance to
put it right in a timely manner. We have a complaints
procedure that we follow, a copy of which can be
requested at any time by emailing us or contacting
us and is also available on our Website. You can
call us on 0800 532 532 or email us at
or write to us at:
State Bank of India
15 King Street
26.2 We will then arrange for the right person to
investigate your concerns. Please when writing to
us provide as much information as you can in
order to assist our investigations.
26.3 In the unlikely event that you remain dissatisfied
with our response or we have not sent you a final
response within 8 weeks of the original complaint,
you can apply to take your complaint to the
Financial Ombudsman Service (FOS).
26.4 If you would like FOS to look into your complaint
you must contact them within 6 months of the
date of any final response issued by us. You can
find out more about the role of FOS by contacting
us and requesting a copy of our FOS leaflet, or you
can write to FOS at:
The Financial Ombudsman Service
South Quay Plaza
183 Marsh Wall
Telephone numbers: 0800 023 4567 or 0300 123 9123
- Regulatory Information
27.1 State Bank of India is authorised by Reserve bank
of India. In the UK, State Bank of India is authorised
by the Prudential Regulation Authority and
regulated by the Financial Conduct Authority and
Prudential Regulation Authority. SBI is entered
on the Financial Services Register and its Register
number is 139156. As explained in our website in
the "Customer Care" section, State Bank of India,
(the UK Operations) is registered in England and
Wales (Registered Number FC 004460 Branch No:
BR000696), as an Overseas Company with Registered
Office: 15-17, King Street, London EC2V 8EA.
27.2 We are covered by the Financial Services
Compensation Scheme (FSCS). The FSCS can pay
compensation to depositors if we are unable to
meet our financial obligations. Most depositors –
including most individuals and small businesses
– are covered by the scheme.
27.3 In respect of deposits, an eligible depositor is
entitled to claim up to £75,000. For joint Accounts
each Account holder is treated as having a claim
in respect of their share so, for a joint Account held
by two eligible depositors, the maximum amount
that could be claimed would be £75,000 each
(making a total of £150,000). The £75,000 limit
relates to the combined amount in all the eligible
depositor’s Accounts with us, including their share
of any joint Account, and not to each separate
27.4 For further information about the scheme
(including the amounts covered and eligibility to
claim) please ask us or, refer to the FSCS website
www.FSCS.org.uk or call 0800 678 1100 or 0207 741 4100.
1.1 Your agreement with us is contained in:
- Issuing a card
2.1 We will only send you a card if you ask for one or
to replace a card you already have. We issue the
following types of card:
2.2 For security purposes we will ask you to contact us
upon receipt of any new or replacement card you
receive from us before you can use it.
2.3 We will issue you with a Personal Identification
Number (PIN). We will send your PIN number
separately from your card for security purposes.
We will not reveal your PIN to anyone but you.
You can use your PIN with your card for withdrawing
money and using other services available from
self-service machines. You will also need your PIN
to be sure that you can pay for goods and services
at the premises of a retailer or other supplier with a
chip and PIN card.
2.4 You must sign your card as soon as you receive it
and follow any reasonable instructions that we give
about using cards and keeping them safe.
2.5 You can change your PIN. We tell you how to
change your PIN when we issue your PIN.
2.6 You must not use your card after the end of the
month it expires or after we have asked you to return
it to us or told you that its use is suspended.
2.7 You authorise us to deduct from your Account the
amount of any transaction carried out using your
card with or without use of your PIN or using your
debit card details, whether or not you have given or
authorised such instructions. Please refer to section
10 of this Part about responsibility for unauthorised
2.8 You have the right to cancel your use of the card at
any time by sending us written notice in accordance
with section 15 of our General Terms and Conditions. You must also return the card cut into 4 pieces,
making sure you cut through the magnetic strip.
Please note that that the cancellation of your card
will not automatically cancel your Account.
- Making payments using your card
3.1 Subject to section 3.2 below, Mastercard can be
used to pay for goods and services where you see
the appropriate Mastercard logo in the UK, the
Channel Islands and the Isle of Man or the Mastercard
logo abroad. A "cash back" service may also sometimes
3.2 You may use your debit card to make payment for
goods and services through a variety of channels
such as the internet and by point of sale transactions
with merchants who accept the card. For further
details of how you can use your card please visit
our Website. For security reasons, your debit card
cannot be used to make payments over the telephone.
You must not disclose your PIN when using any of
these channels. We strongly recommend the use of
"secure payment" sites and software when sending
your card details over the internet.
3.3 Your card will be enabled for the Mastercard Secure
Code by default. This code is used to confirm your
transactions over the internet by the organisations
that participate in Mastercard Secure Code (to
prevent fraud). To get your code, you will have to
visit our website (https://acs.onlinesbi.com/sbi/enrollment/enroll_welcome.jsp) and give your card
number and mobile number. Details of the procedure
are provided in sections 13.4 and 13.5 below.
3.4 We will not be responsible if a retailer or other
supplier refuses to accept your card or if you
cannot use your card to make a payment.
3.5 You can only use the card or the card number for
transactions if you have enough money in your
3.6 We will normally deduct from your Account the
amount of any payment made in the UK either on
the same day or on the first Working Day following
- Self-service machines
4.1 You may use your card in ATM self-service machines
in the UK, Channel Islands and Isle of Man, which
display the Mastercard logo.
4.2 We may allow you to use your card in self-service
machines in the UK and abroad operated by other
financial institutions if such machines display the
Mastercard logo. We will advise you if you are able
to use your card in these machines when we send
you your card and about any limitations which
apply. Please tell us if you are going abroad before
you go. If you do not we may not authorise your
transactions using your card whilst you are abroad.
4.3 Cash withdrawals in the UK will normally be
deducted from your Account on the same day.
4.4 If financial institutions charge for your use of their
self-service machines, such charges will be payable
4.5 For cash withdrawals at self-service machines
outside the UK we will convert the amount of any
cash withdrawal made in a currency other than
Sterling into Sterling at our applicable exchange
rate on the day we receive details of the withdrawal.
See Tariff of Charges for charges that will apply.
We will normally deduct the amount of such
withdrawals and any charges from your Account
within 5 Working Days.
4.6 We will be responsible for any money lost if there is
a fault on one of our self-service machines and we
have not notified you by a message on the screen
or a notice on the machine. If we have notified
you we will not be responsible for any loss if our
self-service machines are not in operation. We may
change the availability of our machines at any
time without notice.
4.7 We will not be responsible if you cannot use your
card in a machine operated by another financial
institution, as this is outside our control.
4.8 You can only use the card or the card number for
cash withdrawals if you have enough money in
4.9 We will tell you what the daily cash withdrawal
limit is when we send you your card and we may
change the limit from time to time by giving you at
least 2 months’ notice. You may use your card to
obtain cash from any cash machine which we advise
will accept your card only up to the daily limit on
your Account. Your daily cash limits are applicable
to the UK ATM and POS transactions. This maybe
different when you use your card in other countries
dependent on the local country, financial institutions
and merchant daily/ per transaction limit.
- Payments and your Account
5.1 All transactions, cash withdrawals and transfers will
be shown on your Account statement.
5.2 You cannot stop a debit card payment but a retailer
or supplier may make a refund. We will credit your
Account when we receive their instructions but will
not be responsible for any delay in receiving their
5.3 We may refuse to authorise a payment if we
consider that your card or Account has been or is
likely to be misused or for fraud prevention
purposes. We may refer an authorisation request
back to the retailer for more information if we
consider this necessary to help us to prevent card
misuse. This may result in you being asked to
produce additional identification. This may also
be done on a random basis for fraud prevention
6.1 We may charge for use by you of the card at the
rate set out in our Tariff of Charges. Please also
see section 11 below about how we may change
our charges which apply. You authorise us to
deduct all such charges from your Account.
7.1 You must do all that you can to keep the card safe
and your PIN secret at all times. You must keep the
card separate from any cheques.
7.2 You must never allow anyone else to use your card,
PIN or other security information.
7.3 You must never write down or record your PIN or
other security information.
7.4 You must only reveal the card number to make a
transaction, to report loss or theft of the card or if
we allow you to do so.
7.5 We will never contact you to ask you for your
security information such as your PIN, passwords
or the 3 digit number on the reverse of your card.
You should not reveal your security information to
- What you must tell us
You must tell us as soon as reasonably possible if:
the card is lost or stolen or you think that the card
may be misused or that someone may know the
your statement includes an item which you think
is wrong; or
you change your name or address
8.2 We have a 24 x 7 Helpline only for blocking cards.
You may contact us on 0808 1017633 (toll free
within the UK) or 00442074544404 (if contacting
from outside the UK) if you think that the card has
been stolen or you think the card may be missing
or that someone may know the PIN.
8.3 For all other matters you can contact us at any of
our Branches in the UK during Banking Hours or
you may phone us on 0800 532 532 during
Banking Hours. We may ask you to confirm in
writing within 7 days any information which you
have not already given us in writing.
8.4 You must give us all the information you have
about the loss, theft or misuse of a card or the PIN
and any other information we ask for to help us.
We may give the police, national authorities, or
government fraud prevention agencies any
information we think will be useful. If you find
cards which you have reported as lost, stolen or at
risk of misuse you must not use them. You must
cut them into four pieces, making sure you cut
through the magnetic strip and return them to
- Suspending and withdrawing your use of the card
9.1 We may ask you to return your card to us or we
may suspend its use at any time. We will normally
give you at least 2 months’ prior notice unless we
have a valid reason for not doing so, such as we
consider that your card or Account has been or
is likely to be misused or if the card has not been
used by you for a considerable amount of time. We
may deduct from your Account the amount of any
card transaction (and any charges) made by you
but not paid by us until after return or suspension.
9.2 We may also suspend, withdraw or restrict the use
of your card for either of the following reasons:
9.3 We will send you notice before we take this action
or as soon as possible afterwards in accordance
with our General Terms and Conditions.
- Responsibility for unauthorised transactions
10.1 We will be responsible for any money lost due
to unauthorised transactions unless you are
responsible under section 10.2 below. We will
add back to your Account any amount deducted
including any related interest (if applicable) and
charges. We will have no other liability to you.
10.2 You will be responsible for all losses if you act
fraudulently or not taking reasonable care. If you
act without reasonable care, which includes not
complying with clauses 7 and 8 above, and this
causes losses, you will be responsible for them.
You will not be responsible, other than where you
have acted fraudulently and without reasonable
care, for any loss if someone else uses your debit
card before you receive it. You will be responsible
for losses up to £50 if someone else uses your card
before you notify us that it has been lost or stolen
or if someone else knows your PIN, unless you acted
fraudulently, or did not take reasonable care, in
which case, you will be responsible for all the losses.
- Ending your use of the Card
11.1 If your Account is closed you will not be able to
use your card.
11.2 You will not be able to use your card if we suspend
or end its use under section 9 above.
11.3 We can end your use of the card at any time by
giving you at least two months’ written notice in
accordance with our General Terms and Conditions.
11.4 You can end your use of the card at any time by
telling us in writing and returning your card to us
immediately (cut into at least 4 pieces, making
sure you cut through the magnetic strip).
- Disabled customers
12.1 We offer card services to disabled customers
who are unable to use a PIN due to a disability or
medical condition. For more information call us
on 0800 532 532. Lines are open 9 a.m. to 5 p.m.
every Working Day. Cards can be used at Point-of-
Sale terminals of selected merchants who accept
payments against MasterCard Debit Cards without
the need for a PIN. You may be required by the
merchant to sign a receipt. You must also allow
the merchant to verify the signature on the receipt
against the signature on the back of your card.
- MasterCard Secure Code Terms and Conditions
13.1 These section supplements and is in addition to
the Terms and Conditions prescribed for our Debit
Cards, issued in association with MasterCard.
13.2 In addition to the defined terms explained in clause
1 of the General Terms and Conditions a number of
words and phrases are printed in bold type because
they have the special meaning explained here:
Card means our Debit Card issued in association
Cardholder means any person holding a valid
Debit Card issued by us and who desires to make
payments to the Merchant over the internet using
the Debit Card.
ID means the user identification provided to the
Cardholder by us to enable Cardholder to make
payments through the internet using the Card.
Merchant means any person who owns or manages
or operates a merchant establishment through a
physical establishment and/or a website.
Password means the passwords, digital signatures
or other means of authentication as we may specify
from time to time which the Cardholder uses to
make payments through the internet using the Card.
Registration Data means the information we ask
in order to confirm the identity of the Cardholder
before proceeding for MasterCard Secure Code
Service means the MasterCard Secure Code (3D
Secure) being offered by us enabling the Cardholder
to make payments through the internet using the
13.3 These terms form the contract between the
Cardholder and us for the Service. The Cardholder
shall apply to us online for use of the Service. We
are entitled at our sole discretion to accept or reject
13.4 The Cardholder shall register for the Service by
giving their card number and mobile number in the
SBI’s web site (https://acs.onlinesbi.com/sbi/enrollment/enroll_welcome.jsp). The Cardholder will be given
an authentication code by SMS or any other
communication means decided by us from time
to time based on the registration date (like Name,
Mobile Number etc) to set their own secured password.
13.5 In order to use MasterCard Secure Code, the
Cardholder must provide certain information to
us including the mobile number that allows us to
validate the Cardholder’s identity and verify that
the Cardholder is the owner of or an authorised
user of the specified Card. The information that
the Cardholder provides may be validated against
information we already hold associated with the
Cardholder and their Card. Once we validate the
Cardholder’s identity as part of the MasterCard
Secure Code registration process, the Cardholder
is permitted to create a Password.
13.6 We shall validate the Card details provided by
the Cardholder during the course of a transaction
directly and the Merchant will not be privy to the
13.7 This Service is available to the Cardholder upon
registration. We may add, revise, suspend in whole
or in part any of the services provided by the
Service, without notice. By using the Service, the
Cardholder has accepted these Terms and
13.8 The Cardholder is hereby made aware that in case
of payment over the internet using their Card, the
Cardholder will not sign the charge-slips at the
time of making the payment. Accordingly, the
Cardholder accepts that, in the event of any
dispute regarding the authenticity or validity of
such a payment, the Cardholder’s Account shall
be liable to be debited with the amount payable.
Please refer to sections 10.1 and 10.2 of this
Part, detailing the responsibilities for
13.9 If the Cardholder does not successfully register
for MasterCard Secure Code or if the Cardholder
chooses not to register for MasterCard Secure Code,
we and/or the Merchant may not accept the Card
to pay for an e-commerce or other transaction
subject to MasterCard Secure Code.
13.10 Any payment made on the internet using the
Cardholder’s Password shall be considered to
be an order received from the Cardholder.
The Cardholder’s Password issued to him/her,
allows the Cardholder to make payments through
the internet and that Cardholder is the sole and
exclusive owner of the Cardholder’s Password and
accepts sole responsibility for use, confidentiality
and protection of the Password, as well as for all
payments made using such Password subject to
sections 10.1 and 10.2 of this Part.
1.4 If for any reason the funds are not paid to the
nominated account and are returned to us, we will
refund these to you. The refund will be made in
GBP and the exchange rate applied will be the
1.6 We reserve the right to perform additional verification
checks prior to processing any remittance application.
Failure in any of the verification requirements may
result in either a delay in processing the remittance
application or a rejection.
Authorised and regulated by Reserve Bank of India.
Authorised by the Prudential Regulation Authority. Subject
to regulation by the Financial Conduct Authority (FCA) and
limited regulation by the Prudential Regulation Authority.
Details about the extent of our regulation by the Prudential
Regulation Authority are available from us on request.
State Bank of India is a member of the Financial Services
Compensation Scheme established under the
Financial Services and Market Act 2000. The Financial
Services Compensation Scheme protects deposits held
with our UK branches. Payments under this scheme are
limited to £75,000 of your total deposits with us in the UK.
In practice, this means that each eligible depositor will be
compensated up to a maximum of £75,000 of their total
State Bank of India is a bank incorporated and headquartered
in India and is regulated by the Reserve Bank of India.