(Available for RBS ATM Cardholders only in Pakistan)

Definitions:

"EFU" means EFU General Insurance Limited-Clifton Division.

"EFU General Insurance-Clifton Division" means the division of EFU located at 311, Clifton Centre, Block 5, Clifton, Karachi 75600.

"Insurance Coverage" means the insurance coverage provided to the Bank for the benefit of ATM Cardholder in terms stated hereof.

"Insured Event" means, subject to exclusion in Clause 11, the loss of cash within the Prescribed Time Limit by way of theft, robbery, and/or armed hold-up, forced deprivation of money incurred by the ATM Cardholder such cash having been obtained by the ATM Cardholder by using the ATM Withdrawal Services.

"PIN Number" means the confidential code issued by the Bank to the ATM Cardholder, or chosen by the ATM Cardholder from time to time for use which enables the ATM Cardholder to utilize the ATM Withdrawal Services.

"Policy Year" means a year starting from the initiation of this Insurance Coverage, and each successive year(s) during which the Insurance Coverage is effective in terms hereof.

"Prescribed Time Limit" means a period of one hour from the time the cash is withdrawn from the ATM.

General Features Of The ATM Withdrawal Insurance Coverage

Applicability And Eligibility

The insurance coverage is being provided by EFU General to the Bank and the benefit of such Insurance Coverage is being extended to ATM Cardholders upon the terms and conditions contained herein.
 
Any of our ATM Cardholder holding a valid ATM card and against whom the Insurance Service Charge has been received for the period is eligible for this coverage unless that the ATM Cardholder himself has not deactivated the insurance coverage via our Customer Interaction centre or through written intimation to any RBS Branch.
 
These terms and conditions shall be applicable in respect of ATM Withdrawal Services provided to the ATM Cardholder unless such ATM Cardholder expressly requests not to avail the Insurance Facility through the channels prescribed herein. Any such intimation must be made by the ATM Cardholder directly to the Bank.



Benefits

Upon receipt of due proof in writing that the ATM Cardholder has whilst the Insurance Coverage is in full force and effect suffered Insured Event, in terms of these terms and conditions, the Insurance Coverage covers loss of money i.e cash withdrawn from the ATM, during the period of Insurance Coverage and within the Prescribed Time Limits, subject to a condition that such valid claims would be paid not more than 3 times to an individual during a Policy Year.



Insurance Service Charge

Insurance Service Charges are payable as mentioned in the Schedule of Charges of the Bank for the period.
 
The Bank reserves the right to revise the Insurance Service Charge at any time and will intimate the ATM Cardholders through its Schedule of Charges. The Bank may also inform ATM Cardholders in writing about any such change during an interim period but at least 30 days prior to such change.



Prescribed Mode Of Communication For This Coverage
 
Channels of communication with the Bank regarding this Insurance Coverage shall only be through the Bank's Customer Interaction Centre or customer's notification in writing submitted at the relevant branch of the Bank. Any other communication written or verbal will not be entertained.



Insurance Coverage Cancellation/ Stoppage
 
(a) The ATM Cardholder shall have the right to deactivate the insurance coverage any time by calling at the Customer Interaction Center of the Bank or by providing the Bank with a written notice.
 
(b) This Insurance Coverage may be terminated at any time by the Bank by providing written notice of at least 30 days to the ATM Cardholder. Such notice shall be communicated to the ATM Cardholder by the Bank.
 
(c) If at the time of the Insured Event there is any other insurance facility being availed by the ATM Cardholder for any loss incurred by the ATM Cardholder which may otherwise have been covered under this Insurance Coverage, the Bank shall not be liable for more than its rate able proportion thereof.
 
(d) If any statement in the Claim Notification by the ATM Cardholder is false, incorrect or fraudulent or not made in accordance with the terms and conditions herein, the Bank and EFU General Insurance Limited shall be absolved of any liability under this Insurance Coverage.



Claims
 
(a) The ATM Cardholder will be able to make a claim under the Insurance Coverage in respect of ATM Withdrawal Services availed by him/ her should an Insured Event(s) occur within the Prescribed Time Limit. It is further clarified that the any/all claims shall only be considered if the ATM Withdrawal Service was utilized by the ATM Cardholder himself and not through any representative having access to the ATM Card and/or the PIN Number.
 
(b) Claims in respect of withdrawals made by the ATM Cardholder would be limited to a maximum amount of Rs. 100,000/- (Rupees One Hundred Thousand Only) per day and an Insured Event causing any cash loss falling within the Prescribed Time Limit.
 
(c) Further, ATM Cardholder may only be paid claims under this Insurance Coverage at most 3 times during a Policy Year.
 
(d) In the event that the ATM Cardholder is required to make payment of a service charge in connection with this Insurance Coverage, the Bank shall have the right to debit the ATM Cardholder's account(s) with the Bank.



Cessation Of Insurance Coverage to The ATM Cardholder
The ATM Cardholder shall cease to be covered under this Insurance Coverage on any of the following:

(a) ATM Cardholder's death
 
(b) Cancellation of the ATM Cardholder's ATM Card.
 
(c) Non realization of payment from the ATM Cardholder's account in relation to ATM Withdrawal Services for the period of Insurance Coverage.
 
(d) Any other date on which the ATM Cardholder ceases to be eligible for Insurance Coverage for any fraudulent, dishonest or criminal reason affecting the Insurance Coverage hereunder.
 
(e) A thirty (30) calendar day advance notice to the effect that the Insurance Coverage has been cancelled.



Claim Notification Procedure

(a) ATM Cardholder has to fill a claim form available at all ATM vestibules and RBS branches.
 
(b) Intimation regarding any claim should reach EFU General Insurance - Clifton Division within 72 hours of the Insured Event. ATM Cardholder may call and fax the claim form at EFU General Insurance - Clifton Division. Any/all claims arising as a consequence of the Insurance Coverage should be notified in writing by the ATM Cardholder ("Claim Notification") along with the Complete Documentation directly to EFU General Insurance - Clifton Division within 15 working days of the Insured Event(s) claimed for. If the Claim Notification is not lodged within the said 15 working days period, the Insurance Coverage shall lapse in respect of the relevant Insured Event.
 
(c) A Claim Notification shall be investigated by appointing a surveyor to carry out the post loss survey and Complete Documentation (in addition to the Complete Documentation) needed by such surveyor shall be intimated to the ATM Cardholder depending on the circumstances of the loss.



Complete Documentation
 
(a) Complete claim form signed by the ATM Cardholder and/ or Official FIR pertaining to the Insured Event and/or the Daily report from the reported Police Station, Identity Card of the ATM Cardholder, Records of ATM transaction and verification by the Bank will constitute "Complete Documentation" for a valid claim.
 
(b) Complete Documentation, for a claim by ATM Cardholder will be required before any benefit in respect of the is paid under this Insurance Coverage and if after commencement of the Insurance Coverage hereunder the evidence provided against the Insured Event is found to have been incorrectly notified to the EFU, EFU shall notify the ATM Cardholder of the adjustment to be made under this Insurance Coverage in respect of such incorrect notification.
 
(c) No claim whatsoever shall be payable under the Insurance Coverage if valid, required and/or Complete Documentation is not furnished by the ATM Cardholder in respect of the claim to EFU.



Claim Payment

EFU shall credit the ATM Cardholder's account at the Bank with the Claim amount within 4 working days after the fulfillment of requirements of Complete Documentation in respect of a claim.
 
Admissible claims will be directly settled between the ATM Cardholder and EFU General Insurance Ltd -Clifton Division, and the Bank shall have no liability in respect of the same.



Exclusions

EFU shall not be liable under this Insurance Coverage in respect of any loss results due to:
 
(a) hurricane, volcanic eruption, earthquake, flood, typhoon, tornado or cyclone.
 
(b) hostile act of foreign enemies or warlike operations (whether before or after declaration of war), civil war or mutiny.
 
(c) strike, riots and civil commotion or terrorism
 
(d) fraud or dishonesty of employees of the ATM Cardholder whether permanent or contractual.
 
(e) cash withdrawals made by any person other than the ATM Cardholder utilizing the ATM Cardholder's ATM card.
 
Terrorism in this context is defined as "the use of violence for political ends and/or for religious ends and/or ethic ends"



General
 
(a) This Insurance Coverage shall become effective immediately upon receipt of the premium chargeable by EFU.
 
(b) This Insurance Coverage may be terminated at any time by the Bank or by EFU by providing written notice of at least 45 days, provided the ATM Cardholders are prior to such termination given a thirty (30) day notice of cancellation in terms of 7(e) above.
 
(c) The Bank is only acting as a facilitator in providing this facility and is not responsible or liable for settling claims emanating from this Insurance Coverage or for the approval or rejection of any claim or for any act or omission on the part of EFU.
 
(d) The Bank has the right to decline this Insurance Coverage to any ATM Cardholder without assigning any reason.
 
(e) Notwithstanding anything to the contrary in this Insurance Coverage, the termination of this Insurance Coverage shall have the following effects:

(i) No individual insurance amounts shall be payable under this Insurance Coverage to any ATM cardholder after the time of termination.
 
(ii) No premium shall be payable under this Insurance Coverage after the time of termination. Any prior arrears and any adjustment to the premium for the final Policy Year of the Insurance Coverage, or part thereof shall take the form of a single amount payable by or to the Bank, as the case may be, on the date the adjustment is calculated.
 
Amendment of this Policy

This Insurance Coverage may be amended or changed at any time, without the consent of the ATM Cardholder, upon written request made by the Bank and agreement by EFU. Any amendment or change to this Insurance Coverage shall be binding on the covered ATM Cardholders.



Disclaimer
The ATM Cardholder fully agrees and understands that the Bank shall have no liability whatsoever, to the ATM Cardholder or any other third party, in respect of reimbursement of any claim(s) that may arise as a consequence of the Insurance Coverage.
The ATM Cardholder shall indemnify and keep the Bank free and harmless from and against all liabilities, losses, claims, damages incurred by the ATM Cardholder or a third party arising out of or in connection with the use of the ATM Withdrawal Insurance coverage.

If our products and services have interested you and would like further information please call our Customer Interaction Centre at 111-06-06-06