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“PSP Bank” means the member bank of UPI related to the NPCI UPI System enabling BFL to provide UPI Facility to its Customers. «Bank Account» refers savings and/ or current account held by the Customer with any bank in India, to be used for operations by way of the UPI Facility. Any cost made erroneously through Bajaj Pay Wallet by the Customer to any Merchant or any misguided switch to any person shall not be refunded to the Customer by BFL in any circumstances. The Customer shall make sure that the Bajaj Pay Wallet services are not used for Transactions in foreign currency. The Bajaj Pay Wallet is issued in India and shall be valid only in India and shall be used at Merchant only in India.
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The Account Holder’s passbook/ statement would mirror all the transactions carried out by way of the Fund Transfer System. The fees and expenses relevant for availing the Fund Transfer System facility shall be as per the rates displayed on BFL’s web site and on Bajaj Finserv App before initiating the fund switch. BFL could at its sole discretion update such charges and expenses without offering any prior intimation to the Account Holder. B) The fee directions by way of IMPS are incomplete or are inaccurate in any manner whatsoever.
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The Customer agrees that in the occasion there are inadequate funds in the Account, BFL shall decline the transaction instruction request raised by the Customer. The Customer shall ensure availability of funds in his Account towards the fulfilment of the Payment Instruction before/ on the time of the execution of the Payment Instruction by BFL. The Customer hereby authorizes BFL to debit the Account of the Customer for any liability incurred by BFL on behalf of the Customer for execution of the instruction issued by the Customer. The Customer understands and agrees that such amounts after being credited to default account, can’t be reversed by the Customer. The Customer agrees to receive all industrial messages together with transactional messages from BFL. You understand that you shall be absolutely responsible to verify the transaction/ Payer/ Payee details before carrying out the transaction.
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