Terms and Conditions for Online Account Opening

Please read these Terms and Conditions for Online Account Opening with NIC Asia Bank Limited (hereinafter referred to as the “Bank”) carefully together with the Customer Consent Form. As you provide the consent to and authorize Khalti Private Limited (hereinafter referred to as “Khalti”) to prefill  relevant information for Online Account Opening with the Bank, you agree to these Terms and Conditions. You are advised to seek independent advice if you deem necessary.  

• Definitions

  Unless the context otherwise requires, the following terms used in the Terms and Conditions shall have the following meaning(s) and interpretation(s):

1. “Bank” shall mean NIC Asia Bank Limited, which expression shall include its successors and assign;
2. “Bank Account” shall mean the account to be opened in the Bank;
3. “Customer” shall mean the person who has agreed to be bound by these terms for Online Account Opening with the Bank and shall include the beneficial owner of the Bank Account;
4. “Services” shall mean the facilitation services provided by Khalti to open a Bank Account in the Bank;
5. “Terms” shall mean these Terms and Conditions mentioned herewith in clause 2 and, as the context requires, any amendments made thereto from time to time.

• Instructions

• The customers shall give full and free consent to Khalti to prefill and share relevant  information available at Khalti’s system with the Bank solely for the purpose of opening an online Bank Account at the Bank as per the bank’s account opening policies and procedures. 
• Consent obtained from the customer is irrevocable and binding. 
• The customer acknowledges that these Terms shall be applicable to initiate the Online Account Opening at the Bank in conformity with the Bank’s terms and conditions.
• The customer shall be responsible for the accuracy and completeness of the data provided to Khalti while registering at Khalti.
• Khalti shall redirect the customer to the portal of the Bank for the purpose of KYC Verification.
• The customer agrees to furnish the additional documentation or information required by the Bank for the purpose of KYC verification as asked by the bank on their own. 
• The customer agrees that the customer does not have a Bank Account of any nature in the Bank.
• The Customer acknowledges that the Bank can reject the application for opening an account with the Bank, subject to its policy. In such Khalti shall not be held responsible for any loss or liabilities arising from such events.
• A person who is not a party to any agreement governed by these Terms shall have no recourse to enforce or enjoy the benefits of any term in these Terms.
• In the event of any conflict between mentioned Terms and any other terms and conditions governing the services, these Terms mentioned here shall prevail, unless expressly stated to the contrary by any law.
• These Terms can be amended or varied unilaterally at any time in such manner and to such extent as Khalti may from time to time in its complete discretion, considered reasonable, with or without prior notice to the customer and such amendments shall be binding on the customer.

• General Conditions relating to the Bank Account

• Right to Refuse

Not withstanding anything contained herein, the Customer agrees and acknowledges that Khalti shall have the right to refuse to open an online account for any customer and Khalti shall be under no obligation to provide any reason for such refusal.

Consent Terms

I consent to and authorize Khalti Private Limited (hereinafter referred to as “Khalti”) to prefill relevant information with NIC Asia Bank Limited (hereinafter referred to as “Bank”) for the purpose mentioned below.

Purpose of Sharing Information

The purpose of sharing this information shall solely be for the facilitation in opening an online Bank Account with the Bank as per the bank’s account opening policies and procedures.

Information to be shared

I understand and acknowledge that the information shared with the Bank may include, but is not limited to, the following information or any other sensitive data that is pertinent to the purpose stated above.

• Full Name
• Date of Birth
• Permanent Address
• Gender
• Contact Details (Phone and Email)
• Occupation
• Nationality
• Identification Document Type,  Identification Document Details and Identification Documents
• Family Information such as Father’s Name, Mother’s Name, Grandfather’s Name and Spouse Name

Duration of Consent

This consent shall remain in force throughout the entire duration of the Account opening process. In the event that the account is successfully opened, this consent shall continue to remain valid for the tenure of the account or until any updates in the KYC, as per the policies of the Bank, whichever occurs earlier.    

Confidentiality and Security

The Bank shall treat the information with the same level of confidentiality and security as required by applicable laws and industry standards. The Bank shall only use the information solely for the purpose of processing my account application and shall not disclose it to any other parties without my express consent or as required by law.

Release of Liability

I am aware that by providing this consent, I am voluntarily authorizing the disclosure of my information to the Bank, and acknowledge that Khalti and its officers, agents and employees shall not be held responsible for any loss, damages, liabilities, or responsibilities that may arise from such sharing of information or the Bank’s use of such information.    

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