Terms & Conditions

Terms and Conditions governing the use of the internet banking provided by Bank of Kathmandu Limited

(Please read the following terms and conditions carefully, by using internet banking services the customer is deemed to have agreed to be bound by the following terms and conditions and any amendments thereto made from time to time and all existing and future laws, rules, regulations and official directions applicable to internet banking.

If the customer does not accept these terms and conditions, s/he should immediately discontinue the access and /or use of internet banking services)

These terms and conditions shall be read together with any other terms and conditions governing the use of other facilities, benefits, products or services which the bank may make available to you from time to time in connection with internet banking. In the event of any conflict, these terms and conditions shall prevail.

  1. Definitions:

    The following terms and expressions shall have the following meanings unless otherwise defined:

    “Bank” refers to Bank of Kathmandu Limited incorporated under the Company Act 2021 and having its registered office at Kamalpokhari, Kathmandu, Nepal.

    “Internet banking service” or “BOK Click” means internet banking service offered by the bank which provides to the customer the services such as balance inquiry, statement view and printing, fund transfer, utility payment, bulk fund transfer, credit card payment, transaction details, message relay to customers if any or any other services as the bank may decide to provide from time to time through secured internet protocol. The availability / non-availability of a particular service shall be advised through message broadcasting feature available within BOK Click.

    “Customer” means the accountholder or authorized person/ agent of accountholder of the bank authorized to use the internet banking service

    “Account” means any one or more accounts held and /or services provided by the bank including but not limited to savings accounts, current accounts, credit cards or debit card accounts, loans, investments or such other accounts and /or facilities as may be determined  by the bank from time to time

    “Terms and conditions” means these terms and any amendments and / or variations thereto for access and /or use of internet banking

  1. Application for Internet Banking Service  :

    The Customer shall apply to the Bank in the prescribed form for the use of Internet Banking. The Bank shall be entitled at its sole discretion to accept or reject such applications. For the purpose of availing Internet Banking, the Customer would need to have legal access to the Internet. The Bank will advise from time to time the Internet software required for using Internet Banking. There will be no obligation on the Bank to support all the versions of these Internet software. The user shall ensure that internet banking or any related service is not for any purpose which is illegal , improper or which is not authorized under these terms

  1. Unauthorized Access  to internet banking:

    The Customer shall take all necessary precautions to prevent unauthorized and illegal use of Internet Banking and unauthorized access to the Accounts provided by Internet Banking.

  1. Internet banking access: 

    The customer would be allotted an internet banking user –id and a set of secret passwords by bank in the first instance and the Customer is required to change such password. As a safety measure, the Customer shall change the password as frequently thereafter as possible. In addition to Customer-id and password, the Bank may, at its discretion, advise the Customer to adopt other means of authentication such as digital certification and/or smart cards in future. The Customer shall not attempt or permit others to attempt accessing the account information stored in the computers of the Bank through any means other than the Internet Banking.

  1. Password:

    The Customer unconditionally undertakes to have Internet Banking password of such number of letters/digits as may be notified by the Bank from time to time and ensure that the same is kept confidential and do not let any unauthorized person have access to the internet while the Customer is accessing the Internet Banking. In case the Customer forgets the Internet Banking password, the Customer may request for the issue of a new password by sending a written request to the Bank and this shall not be construed as the commencement of a new contract. The Customer agrees and acknowledges that the Bank shall in no way be held responsible or liable if the Customer incurs any loss as a result of information being disclosed by the Bank regarding his Account(s) or carrying the instruction of the Customer pursuant to the access of the Internet Banking and the Customer shall fully indemnify and hold harmless the Bank in respect of the same. The Customer shall maintain the secrecy of all information of confidential nature and shall ensure that the same is not disclosed to any person voluntarily, accidentally or by mistake.

  1. Eligibility for the services:
    • Any customer desirous of using the service should have either saving and /or current accounts with the bank or should be authorized to act independently on behalf of the bank accountholder
    • In case of joint accounts, the written mandate of other account holders authorizing the customers to use the service would be required. All or any transactions arising from the use of the service in the joint account shall be binding on all the joint account holders, jointly and severally
    • In case of account maintained by minors, only the guardian/ parents of the minor shall be eligible to use the service
    • The bank has the absolute discretion to accept or reject any application for internet banking and without giving any reason there for
  1. Charges :
    • The bank shall be entitled to levy or impose service charges on such services to vary charges from time to time upon written notice of such variation in respect of the internet banking service rendered to the customer
    • The Bank reserves the right to recover the service charge for providing the Internet Banking by debiting the Accounts of the Customer.
  1. Maintenance of Sufficient Balance: 

    The Customer shall ensure that there are sufficient funds or prearranged credit facilities in the account and the Bank shall not be liable for any consequences arising out of its failure to carry out the instructions due to inadequacy of funds and/or credit facilities provided always that the Bank shall at its sole discretion, be entitled to carry out the instructions notwithstanding such inadequacy without seeking the prior approval from or notice to the Customer and the Customer shall be responsible to repay with interest resulting overdraft, advance or credit thereby created and for all related to costs and charges.

  1. Funds Transfer :

    The Bank will endeavor to effect funds transfer transaction received through Internet Banking subject to availability of sufficient funds in the Account. The Customer shall not use or attempt to use the Internet Banking for funds transfer without sufficient funds in the relative Account or without a prearranged credit facilities with the Bank. The Bank shall specify from time to time the limit for carrying out various kinds of funds transfer or any other services through Internet Banking. The Bank shall not be liable for any omission to make all or any of the payments or for late payments due to circumstances beyond its control. 

    • To own different accounts
    • To Predefined Beneficiary’s account
    • To any account maintained in the Bank.
    • To Predefined Utility Services
    • Bulk transfer
  1. Authority to the Bank  for internet banking :

    The Customer irrevocably and unconditionally authorizes the Bank to access all his/her Account(s) for effecting banking or other transactions performed by the Customer through the Internet Banking. The instructions of the Customer shall be effected only after authentication of the Customer in accordance with the prescribed procedure for Internet Banking. The Bank shall have no obligation to verify the authenticity of any transaction received from the Customer other than by these means of verification. The read-out, the faxed /email output or the printed output, if any, that is received by the Customer at the time of operation of the Internet Banking is a record of the operation of the computer by the Customer and shall be accepted as conclusive and binding for all purpose. All the records of the Bank generated by the transactions arising out of the use of the Internet Banking, including the time the transaction recorded shall be conclusive proof of the genuineness and accuracy of the transaction. While the Bank shall endeavor to carry out the instructions promptly, they shall not be responsible for any delay in carrying on the instructions due to any reason whatsoever, including due to failure of operational systems or any requirement of law. All the transactions arising through the use of the Internet Banking to operate a joint account shall be binding on all the joint account holders, jointly and severally. 

  1. Instructions  :

    All instructions for operating the Internet Banking shall be given through computer by the Customer in the manner indicated by the Bank. The Customer is also responsible for the accuracy and authenticity of the instructions provided to the Bank and the same shall be considered to be sufficient to operate the Internet Banking. The Bank shall not be required to independently verify the instructions; an instruction is effective unless countermanded by further instructions. The Bank shall have no liability if it does not or is unable to stop or prevent the implementation of the initial instruction. Where the Bank considers the instructions to be inconsistent or contradictory it may seek clarification from the Customer before acting on any instruction of the Customer or act upon any such instruction as it deems fit. The Bank state that they have no liability or obligation to keep a record of the instructions to provide information to the Customer or for verifying Customer's instructions. The Bank may refuse to comply with the instructions without assigning any reason and shall not be under any duty to assess the prudence or otherwise of any instruction and have the right to suspend the operations through the Internet Banking if it has reason to believe that the Customer's instructions will lead or expose to direct or indirect loss or may require an indemnity from the Customer before continuing to operate the Internet Banking. 

  1. Accuracy of Information : 

    The Customer is responsible for the correctness of information supplied to the Bank for use of the Internet Banking. The Bank accepts no liability for the consequences arising out of erroneous information supplied by the Customer. If the Customer notices an error in the information supplied to the Bank either in the application form or any other communication, he shall immediately advise the Bank which will endeavor to correct the error wherever possible on a "reasonable efforts" basis. 

  1. Disclaimer of Liability :

    a) The Bank shall not be liable for any unauthorized transactions occurring through the Internet Banking and the Customer hereby fully indemnifies and holds the Bank harmless against any action, suit, proceeding initiated against it or any loss, cost or damage incurred by it as a result thereof. The Customer is liable for payment of financial charges as decided by the Bank or is liable for the result by the suspension of the operations for illegal or improper use of Internet Banking.

    (b) The Bank shall under no circumstance be held liable to the Customer if the Internet Banking is not available in the desired manner for reasons including but not limited to natural calamities, legal restraints, faults in the telecommunication network or network failure, or any other reason beyond the control of the Bank. 

  1. Indemnity :

    In consideration of the Bank providing the Customer the Internet Banking, the Customer shall indemnify and hold the Bank including both their officers, employees and agents, indemnified against all losses and expenses on full indemnity basis which the Bank may incur, sustain, suffer or is likely to suffer in connection with the Bank's execution of the Customer's instructions and against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses as a consequence or by reason of providing a service through Internet Banking for any action taken or omitted to be taken by the Bank, its officers, employees or agents, on the instructions of the Customer. The Customer will pay the Bank such amount as may be determined to be sufficient to indemnify it against any such, loss or expenses even though they may not have arisen or are contingent in nature. 

  1. Disclosure :

    The Customer agrees that the Bank or their contractors may hold and process the Personal Information and all other information concerning his/her Account(s) on computer or otherwise in connection with the Internet Banking as well as for analysis, credit scoring, marketing, fraud controlling agencies. 

  1. Change of Terms and Conditions :

    The Bank shall have the absolute discretion to amend or supplement any of the Terms and Conditions of this contract at any time and will endeavor to give prior notice of at least 15 (fifteen) days. For such changes wherever feasible. By using any new services as may be introduced by the Bank, the Customer shall be deemed to have accepted the changed terms and conditions. 

  1. Non-Transferability

    The grant of Internet Banking to the authorized user is not transferable under any circumstance and shall be used only by the same. 

  1. Termination of Internet Banking  :

    The Customer may request for termination of the Internet Banking any time by giving a written notice of at least 15 days to the Bank. The termination shall take effect on the completion of the fifteenth day. The Customer will remain responsible for any transactions made through the Internet Banking until the time of such termination. The Bank may withdraw or terminate the Internet Banking anytime either entirely or with reference to a specific service or Customer; or in case of breach of Contract by the Customer without a prior notice; or if it learns of the death, bankruptcy or lack of legal capacity of the Customer. The bank will have the sole discretion to add to and/ or to delete or vary at discretion any of the terms hereof from time to time with notice to the customer

  1. Notices :  

    Notices under this contract may be given to the Customer in writing by delivering them by hand or post to the last address given by the Customer. In addition, the Bank may also publish notices of general nature in a newspaper or on its web site located at http://www.bok.com.np. Such notices will have the same effect as a notice served individually to each Customer. Notice and instructions will be deemed served 7 days after posting or upon receipt in the case of hand delivery, cable, telex or facsimile. 

  1. Applicability to Future Accounts  :

    If the Customer opens further Accounts with the Bank and the Bank extends the Internet Banking to such Accounts and the Customer opts for use thereof, then this Contract shall automatically apply to such further use of the Internet Banking by the Customer. 

  1. General  :
  • The clause headings herein are for convenience only and do not affect the meaning of the relative clause.
  • The Bank may sub-contract and employ agents to carry out any of its obligations under this contract. Bank at its own discretion my restrict access to Internet banking service in certain cities. Transactions would be carried out on the same day or on the next working day depending upon the time of logging of the transaction.
  • The Customer would have to ensure that the telephone he/she uses meets the criteria. All costs incurred by the Customer including telecommunication costs to use the Internet Banking would be borne by the Customer.
  1. Assignment  :

    The Bank shall be entitled to sell, assign securities or transfer the Bank's right and obligations here-under. Any such sale, assignment, securitization or transfer shall conclusively bind the Customer and all other persons. The Customer, his heirs, legal representatives, executors, administrators and successors are bound by the Contract. However, the Customer shall not be entitled to transfer or assign any of his rights and obligations hereunder. 

  1. Right of Set-Off and Lien  :

    The Bank shall have the right of set-off and lien, irrespective of any other lien or charge, present as well as future, on the deposits held in the Account(s) to the extent of all outstanding dues, whatsoever, arising as a result of the Internet Banking extended to and/ or used by the Customer. 

  1. Proprietary Rights   :

    The software underlying the Internet Banking as well as other Internet related software which are required for accessing Internet Banking are the legal property of the respective vendors to which the Customer hereby acknowledges. The permission given by the Bank to access Internet Banking will not convey any proprietary or ownership rights in such software. The Customer shall not attempt to modify, translate, disassemble, decompile or reverse engineer the software underlying Internet Banking or create any derivative product based on the software. 

  1. Governing Law  :

    Any dispute or differences arising out of or in connection with the service shall be governed by the terms and conditions of the service and existing laws of Nepal and by means of arbitration by a sole arbitrator governed by the Nepalese Arbitration Act.

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