Common use of PROCESSING OF TRANSACTIONS Clause in Contracts

PROCESSING OF TRANSACTIONS. 43.10.1 Time for processing of transactions through the Alternate Channels may vary depending on whether they are processed manually or electronically or whether they can be updated immediately or whether they are processed after the close of Business Hours. For Card blocking requests, and other urgent/important request, the Cardholder should follow-up with the Bank and ensure that the same are physically recorded/carried out by the Bank. 43.10.2 Once Cardholder has given an instruction through the Alternate Channels, Cardholder will not be able to reverse it. Bank is under no obligation to reverse an instruction Cardholder has given; or to accept an instruction that is conditional or reversible or which requires Bank to pay a third party sooner than it would have been able to pay following normal banking practices. Bank may, at its discretion, try to reverse entry to the extent that this is possible under the rules and practices of the banking system at a cost to the Cardholder. 43.10.3 Cardholder xxxxxx confirms and acknowledges that payments through electronic transfer of funds are subject to Sec.40A (3) of the Income Tax Act, 1961. 43.10.4 The financial information available by means of the Service through Alternate Channels is for reference purposes only. Information available through this Service will not reflect transactions that may be in the Bank's hands but which have not been processed or which still have to be verified for payment. The Bank shall not be liable for any loss incurred or damage suffered by the Cardholder or as a third party by reason or in consequence of any such financial information. 43.10.5 The Bank shall endeavour to effect fund transfer and payment transactions received through the Alternate Channels provided there are credit/cash limits available and the Bank shall not be liable for any omission to make any of these payments or for late payments due to circumstances beyond the reasonable control of the Bank.

PROCESSING OF TRANSACTIONS. 43.10.1 Time for processing of transactions through the Alternate Channels may vary depending on whether they are processed manually or electronically or whether they can be updated immediately or whether they are processed after the close of Business Hours. For Card blocking requests, and other urgent/important request, the Cardholder should follow-up with the Bank and ensure that the same are physically recorded/carried out by the Bank. 43.10.2 Once Cardholder has given an instruction through the Alternate Channels, Cardholder will not be able to reverse it. Bank is under no obligation to reverse an instruction Cardholder has given; or to accept an instruction that is conditional or reversible or which requires Bank to pay a third party sooner than it would have been able to pay following normal banking practices. Bank may, at its discretion, try to reverse entry to the extent that this is possible under the rules and practices of the banking system at a cost to the Cardholder. 43.10.3 Cardholder xxxxxx confirms and acknowledges that payments through electronic transfer of funds are subject to Sec.40A (3) of the Income Tax Act, 1961. 43.10.4 The financial information available by means of the Service through Alternate Channels is for reference purposes only. Information available through this Service will not reflect transactions that may be in the Bank's hands but which have not been processed or which still have to be verified for payment. The Bank shall not be liable for any loss incurred or damage suffered by the Cardholder or as a third party by reason or in consequence of any such financial information. 43.10.5 The TThe Bank shall endeavour to effect fund transfer and payment transactions received through the Alternate Channels provided there are credit/cash limits available and the Bank shall not be liable for any omission to make any of these payments or for late payments due to circumstances beyond the reasonable control of the Bank.

PROCESSING OF TRANSACTIONS. 43.10.1 44.11.1 Time for processing of transactions through the Alternate Channels may vary depending on whether they are processed manually or electronically or whether they can be updated immediately or whether they are processed after the close of Business Hours. For Card blocking requests, and other urgent/important request, the Cardholder should follow-up with the Bank and ensure that the same are physically recorded/carried out by the Bank. 43.10.2 44.11.2 Once Cardholder has given an instruction through the Alternate Channels, Cardholder will not be able to reverse it. Bank is under no obligation to reverse an instruction Cardholder has given; or to accept an instruction that is conditional or reversible or which requires Bank to pay a third party sooner than it would have been able to pay following normal banking practices. Bank may, at its discretion, try to reverse entry to the extent that this is possible under the rules and practices of the banking system at a cost to the Cardholder. 43.10.3 44.11.3 Cardholder xxxxxx confirms and acknowledges that payments through electronic transfer of funds are subject to Sec.40A (3) of the Income Tax Act, 1961. 43.10.4 44.11.4 The financial information available by means of the Service through Alternate Channels is for reference purposes only. Information available through this Service will not reflect transactions that may be in the Bank's hands but which have not been processed or which still have to be verified for payment. The Bank shall not be liable for any loss incurred or damage suffered by the Cardholder or as a third party by reason or in consequence of any such financial information. 43.10.5 44.11.5 The Bank shall endeavour to effect fund transfer and payment transactions received through the Alternate Channels provided there are credit/cash limits available and the Bank shall not be liable for any omission to make any of these payments or for late payments due to circumstances beyond the reasonable control of the Bank.