Effective: May 1, 2022

This Terms and Conditions sets out the terms and conditions that apply in connection with your use of FinSav.in website, mobile application (“FinSav App”) and pre-paid virtual debit cards distributed by FinSav (“Pre-paid cards”) (collectively, the “Services”). You acknowledge that we have given you a reasonable opportunity to review these Terms and Conditions and Neokred technologies Pvt Ltd and YES bank terms and condition and you have agreed to both of them. For the purposes of this Terms and Conditions, ‘we’, ‘us’ and ‘our’ refers to FinSav, and ‘you’ refers to you and your child/children, the user of our Services.
We may make changes to these Terms and Conditions at any time without informing you in writing. Any changes made to these Terms and Conditions would be uploaded on our website and FinSav Platform which will be effective immediately. You are encouraged to check our website regularly for any changes to these Terms and Conditions.

Ability to Accept Terms and Conditions
This Terms and Conditions applies to any person, child or adult requesting access to or using our Services.
If you are under the age of 18, your parent or guardian must accept this Terms and Condition on your behalf before you can use our Services. We encourage you to regularly monitor and supervise your child’s use of our Services.

FinSav Services
You and your child would be able to access FinSav Platform and use our Services once you have signed up for a parent account and a sub-account for your child.
In your parent account, you may use FinSav Platform to carry out some or all of the following services:
Apply for the Pre-paid Cards;
Check the balance of your parent and child account;
Check the transaction records of your parent and child account;
Encourage your child to save money by setting out interest rates. The interest earned by your child would be deducted from your parent account;
Set spending budgets to your child’s account;
Assign tasks for your child to complete and reward your child for completing the tasks
Learn how to create good financial habits for your child by reading articles provided by our educational partners;
Track your child’s balance, savings, spending and achievements for completing tasks. Our easy-to-see charts will allow you to learn insights on your child month-to-month progress on savings, goals and spending categories; and
Enable other features such as suspension / freezing of your Pre-paid Cards etc.
In your child’s account, your child may use FinSav Platform to carry out some or all of the following services:
Set their monthly goals in terms of how much they can save and earn;
Request tasks to do and be rewarded by you;
Create a wish list of items and learn how much money they will need to save to buy that item;
Check their cash balance
Track their spending
Review their analytics on savings, spending and achievements;
Learn financial terms and habits by reading articles provided by our educational partners; and
You may use FinSav Platform without using the Pre-paid Card. However, we highly recommend using the Pre-paid Card with FinSav Platform which will help you accurately track your child’s:
Cash balance and savings;
Money earned by your child by completing tasks assigned by you;
Statistics on goal setting and achievements; and
Spending categories.
Once we have applied for the Pre-paid Card, we will send the card to you through as per communication. To use the Pre-paid Cards, you must activate the card and link it to the relevant parent account and child account as the user on FinSav App.

Issuer of the Pre-paid Cards
YES BANK LTD is the issuer and processor of the Pre-paid Card associated with our Services. We do not offer pre-paid cards or any other stored value facility. YES BANK LTD regulated and licensed by the RESERVE BANK OF INDIA as a stored value facilities licensee. For more details about the stored value facility license, please refer to https://www.yesbank.in/personal-banking/yes-individual/cards/prepaid-cards
Please read the YES BANK LTD terms and conditions carefully, since it states important terms such as:
Characteristics of different types of pre-paid cards
Know your client requirements for each pre-paid card
Usage of pre-paid cards
Suspension, termination, cancellation and return of pre-paid card
Fees schedule and charges

By using the Pre-paid Cards, you acknowledge and agree to the terms and conditions as stated in YES BANK LTD website at: https://www.yesbank.in/personal-banking/yes-individual/cards/prepaid-cards

Merchants that Accept the Pre-paid Cards
The Pre-paid Cards allows the user to shop globally from merchants that accepts Rupay card .  All purchases are deducted directly from your Pre-paid Card and cannot exceed the amount loaded in your Pre-paid Card. You can feel safe that your child cannot spend more money that is loaded on their Pre-paid Card. For more details on where the Pre-paid Card can be spent and the fees charged by YES Bank Ltd,  please refer to YES bank Ltd website: https://www.yesbank.in/personal-banking/yes-individual/cards/prepaid-cards

Transferring Money to Your Pre-paid Card
You may transfer money to your Pre-paid Cards by following the instructions stated in the FinSav App. We will display your cash balance of the parent and child account by requesting the information from connecting to NeoKred technologies. When you transfer money from your parent account to your child’s account on FinSav App, you permit us to instruct YES Bank Ltd to deduct money from your parent account and transfer the sums to your child account.

Identification Requirement for the Pre-paid Cards
The Pre-paid Card is a stored value facility card which is regulated by the RBI. As such, YES Bank, NeoKred technologies and FinSav must comply with the standards, guidelines and laws set out by the RBI. We are required to obtain and verify your identity to comply with know your customer, anti-money laundering and counter terrorist financing requirements.
You must provide your telephone number to apply for the Pre-paid Cards.

Our Fees
FinSav Platformis free to use the basic features. However you need to subscribe in order to use the premium features. For subscription details, refer to our website www.finsav.in.
Expiry and Cancellation of the Pre-paid Cards
The validity period of the Pre-paid Cards is same as the subscription period. We may choose to extend the validity period of the Pre-paid Cards with YES Bank Ltd. If the Pre-paid Card is expired, your balance cannot be retrieved.
You can cancel the Pre-paid Cards by writing to us. We will notify YES Bank Ltd to cancel the Pre-paid Cards and arrange a refund. YES Bank Ltd will charge a fee for canceling and refunding the Pre-paid Card.

Your Responsibilities
You are responsible for complying with the terms and conditions provided by YES Bank Ltd in order to maintain the continued validity of your Pre-paid Cards;
We are not liable for the refusal by any merchant to accept your Pre-paid Cards as a form of payment;
We are not responsible for authorizing, validating or effecting any transaction or crediting any refunds to your Pre-paid Card account;
You must not infringe our intellectual property rights or those of any third party in relation to your use of our website, FinSav Platform or Services;
You must not use our website, FinSav Platform and Services that could damage, disable, overburden, impair or compromise or services, systems or security or interfere with our users;
You must not use collect or harvest any information from any of our Services or attempt to decipher any transmissions to or from the servers running any our Services;
You warrant that all the information you provide to FinSav for the purpose of signing up a FinSav account, applying for Pre-paid Cards for you and your child is true, accurate, current, complete and not misleading. You must promptly update us of any changes to you and your child’s information;
When you sign up for a FinSav account, you must choose a password. Your child will be able to choose their own password. This must also be kept safe and not disclosed to anyone other than you, as parents or guardian. You must keep your password secure and accept all risks of unauthorized access to your account;
The holder of the Pre-paid Card is allowed to spend the money stored in the card.
You represent that your use of our Services will not involve use in connection with any unlawful or otherwise undesirable activity (as determined by our absolute and sole discretion), including, but not limited to dealing in gambling, money laundering, terrorist financing, fraud, or any other financial crime.

Our Liabilities
We cannot guarantee that our website and FinSav Platform and its content is free from interruptions, viruses, worms or other harmful codes and that no damage will occur to your device. In the event that our website, FinSav App, computer servers are breached, you acknowledge that we cannot be held liable.
We assume no responsibility for the content on our website, FinSav Platform or any links to third party software, websites or services that may be offered through FinSav Platform(including those provided by YES Bank Ltd). The ability to access such links, software or services should not be interpreted as an endorsement by FinSav. FinSav is not be liable for any loss or damage that may arise from you accessing or using such links, software or services;
We display information (such as the cash balance, transaction records of your parent and child account) in FinSav Platform by connecting to Yes Bank Ltd and Neokred technologies data feed. You acknowledge that the information displayed in our website and FinSav Platform is solely prepared for your convenience and may not fully and accurately reflect your balance and all transactions on your Pre-paid Cards which may be due to difference in time zones or settlement procedures. We cannot guarantee that the information provided in FinSav Platform and our website is free from errors.
We cannot be held liable for lost profits, revenues, or data, financial losses or indirect, special, consequential, exemplary, or punitive damages. The total liability of FinSav for any claims under these terms, including for any implied warranties, is limited to 50% of the amount you paid us to use our Services. In all cases, FinSav, will not be liable for any loss or damage that is not reasonably foreseeable.
Ownership
All of the content of our website, including but not limited to our logo, name, slogan and all designs, text, graphics, pictures, information, data, software, mobile application, sound files, other files (“FinSav Properties”), is owned by us and is protected by copyright laws.
You are hereby granted a limited, non-exclusive, non-transferable, non-sublicensable license to access and use our website and FinSav Platform for the sole purpose of using our Services for your personal purposes. The rights granted to you in these Terms and Conditions are subject to the following restrictions:
you shall not license, sell, rent, lease, transfer, assign, reproduce, distribute, host or otherwise commercially exploit FinSav Properties;
you shall not modify, translate, adapt, merge, make derivative works of, disassemble, decompile, reverse compile or reverse engineer any part of FinSav Properties except to the extent the foregoing restrictions are expressly prohibited by applicable law;
you shall not use any manual or automated software, devices or other processes (including but not limited to spiders, robots, scrapers, crawlers, avatars, data mining tools or the like) to “scrape” or download data from any web pages contained in our website (except that we grant the operators of public search engines revocable permission to use spiders to copy materials from our website for the sole purpose of and solely to the extent necessary for creating publicly available searchable indices of the materials, but not caches or archives of such materials);
you shall not access our website and FinSav Platform in order to build a similar or competitive website, application or service; and
except as expressly stated herein, no part of FinSav Properties may be copied, reproduced, distributed, republished, downloaded, displayed, posted or transmitted in any form or by any means.

Indemnity
You will hold harmless and indemnify FinSav and its affiliates, officers, agents, and employees from any claim, suit or action arising from or related to the use of our Services or violation of these Terms and Conditions, including any liability or expense arising from any claims, losses, damages, suits, judgments, litigation costs and attorneys’ fees.

Privacy Policy
Our Privacy Policy explains how we use and protect your Personal Data that you provide to us. By using our Services, you agree that FinSav can use such data in accordance with our Privacy Policy.

Termination
We have the right to suspend or terminate your access to our Services at our discretion and without giving any notice. Reasons for suspension or termination may include:
You breach these Terms and Conditions;
You fail to make payment that is due to us;
We have reason to suspect that you are engaged in illegal activities such as money laundering; and
You fail to provide information or provide false information about yourself to check your identity.
If you break any of these Terms and Conditions, or if liabilities are incurred as a result of your use of our Services, you will be responsible for the costs and expenses, including legal fees, that we, or our employees, officers, directors or agents incur as a result. This will include any costs that result if someone else uses your personal information, or your FinSav account, unless you can prove that it has been used fraudulently.
Governing law
These General Terms and Conditions will be governed by and construed in accordance with the laws of India and you irrevocably and unconditionally submit to the exclusive jurisdiction of the courts of Bangalore, KA, India to settle any disputes which may arise out of or in connection with these Terms and Conditions.
Contact us
If you wish to contact us, please contact:

FinSav
Rupi compass fintech services Pvt Ltd
707, 3rd floor, 3rd cross, Ramachandra layout, Kalyan Nagar, bangalore- 560043
Hello@finsav.in