Account Opening Terms & Conditions

These terms and conditions (“Terms and Conditions”) govern and apply to the registration of the Account Holder (“Customer” or “Account Holder” or “You”) and subsequent use of the Branchless Banking Services offered by JS Bank Limited (“We”, “Us” or “Bank”). These Terms and Conditions constitute an agreement between the Account Holder and the Bank when you register and make use of the Services. By pressing the “Accept” button appearing on the screen at the end of these Terms and Conditions, you: (i) confirm your acceptance of these Terms and Conditions; (ii) agree to abide by and be legally bound by these Terms and Conditions; and (iii) signify your approval to avail the Services in accordance and in compliance with these Terms and Conditions.

A. Definitions

Unless otherwise defined in the text of these Terms and Conditions, capitalized terms shall have the following meaning:

“Account Holder” means the Customer;

“Agent” means the Bank’s Branchless Banking Agent, appointed pursuant to the Branchless Banking Agency Agreement, for the provision of Services to Customers in accordance with these Terms and Conditions and the Branchless Banking Agency Agreement;

“ATM” means Automated Teller Machines of the Bank;

“Bank” means JS Bank Limited;

“BB Regulations” means the Branchless Banking Regulations issued by the State Bank of Pakistan, as amended from time to time;

“Branchless Banking” or “BB” means conduct of banking activities of the Bank as outlined in the BB Regulations for the Account Holder having a Branchless Banking Account. It does not include the information services already being provided to existing Account Holders using channels like phone, internet, SMS etc.;

“Branchless Banking Account” or “BB Account” means a Level 0 (Basic), Level 1 (Advance) or Level 2 (Premium) (as the case may be) account maintained by the Account Holder with the Bank in which credits and debits may be effected by virtue of Electronic Funds Transfer and which is used to conduct Branchless Banking activities as outlined in the BB Regulations;

“Branchless Banking Agency Agreement” means the instrument so entitled, executed between the Agent and the Bank whereby the Bank has appointed the Agent as its Branchless Banking Agent for the provision of Services to the Customers;

“Biometric Verification System” or “BVS” means technology enabled system (verifiable from NADRA or the relevant Government authority) that allows the Bank to obtain biometric fingerprints of the Account Holders at the time of opening of Branchless Banking Account or conducting Branchless Banking transactions;

“Customer” means an Account Holder of the Branchless Banking Account who has opted to avail the Services from the Bank in accordance with these Terms and Conditions;

“Electronic Funds Transfer” means money transferred through an electronic terminal, ATM, telephone instrument, computer, magnetic medium or any other electronic device so as to order, instruct, or authorise the Bank to debit or credit an account