Privacy Policy

The New Urban Co-Operative Bank Ltd.

Rampur (U.P.)

Scheme for Point of Sale (POS)

(Version 1.001 Dt. 10.10.2018)

Sanctioned By Board Meeting Dated 24/08/2018

W.E.F. 10.10.2018

Scheme for Point of Sale (POS)

Objective:

PoS or Swipe Machine as it is popularly known is a technological instrument provided to a Merchant Establishment/ Business Man, to carry out the sale of goods or services to customers in a cashless environment which gives business a professional touch.

The main objective of floating this scheme is to attain low cost cashless deposit & to create customer relationship to give growth in banking business.

Features & Benefits:

• Faster application processing and terminal installation.
• Superior connectivity
• Settlements on T + 1 basis
• Helpdesk with assured TAT (Turn Around Time)
• Nominal Fee / Monthly Charges
• No hidden charges
• Hassle free Cashless Transaction
• Free E Mail Statement & Switch Alerts
• Loan facility against sales numbers.
• Free consumable supply.

Eligibility:

The merchant should have a current/cash credit/ over draft/ Institutional Account with the branch of the bank with a satisfactory account operations and in case of new account holder he should have 06 months satisfactory operations in any other bank.

The merchant should be in retail/ over the counter trade & shall not be in Visa/ Master Card/ Rupay Card negative list for malpractices.

 PLANS:

Plan 1: Rental Plan

The Bank will provide the POS machines on rental base to the customers of the bank having/ have to open current account. The rental plans for POS are as below:

Plan 2: Setup fees Rental freedom (In ownership condition)

The Bank will provide the POS Machine on setup fees Rental freedom to its customers a the rates mentioned below. The machine after installation will be the property of the customer. The vendor will provide the warranty for 3 years there after the AMC @ 1000/- each machine per year. The cost of the AMC will be bear by customer.

Plan 3: Free Setup fees & Low Rental

The Bank will provide the POS Machine on setup fees Rental freedom to its customers who desire to avail the POS Machine facility @ free setup charges & low monthly rent. The customers who fulfills the following requirements are eligible for the scheme.

Eligible Criteria:

1. The customer has to give caution money of Rs. 20000/- (GPRS) & Rs. 7500/- (MPOS) machine, the said amount will remain freeze in his/her account till
2. The contract agreement will be for the term of three years.
3. The monthly rent Rs. 450/- (GPRS) & Rs. 300/- (MPOS)
4. No exit condition are allowed below 12 month’s from the date of contract agreement. Beyond’s 18 months If customer wishes to exit from contract agreement than he has to pay 03 month’s rent for the machine @ Rs. 650/- (GPRS) & Rs. 350/- (MPOS) per month.

Plan 4: Low Usage Charges

The Bank will provide the POS Machine on the basis of monthly usage as per the below schedule

MDR Charges

Notes-

• The schedule of charges are subject to change.
• GST is applicable on above charges.
• Any discrepancy or issues with monthly report, pricing, charges, Fees, or any other Transaction related matter needs to be notified to the Bank with in 30 days of the receipt of such report.
• In case of break down / stolen of machine Account holder will be liable.

                                                                                                      Secretary/Chief Executive Officer

The New Urban Co-Operative Bank Ltd.

Rampur (U.P.)