Compensation Policy
our compensation policy for individual customers
We at TMB always endeavour to make your banking with us a pleasant experience. While every effort is taken to satisfy the customers within the banking framework, we hereby present a draft policy on compensation in case of acts or errors by the bank.
We have a strong belief that a satisfied customer is our ambassador in developing our business. In order to become more customer friendly the bank has decided to come out with a Compensation Policy for the benefit of our individual customers.
This document contains the preamble, introducts, meaning and scope of the compensation under various acts of errors / ommissions by the bank including suitable fair compensation againsts such acts.
Information published in the Document:
- Introduction.
- Table Showing Areas of Operation and Compensation Policy.
- Honouring of Cheques where Stop Payment Instruction is received and acknowledged by bank.
- Delay in Remittances in India.
- Delay / Failure in Executing Mandates / Standing Instructions.
- Unauthorized / Erronous Debit of Customer Account.
The compensation policy is applicable to individual customers. The individual customer in this case is a person who has an account (including a joint account with another person or an account held as an executor of trustee or as a karta of an HUF, but not including the accounts of sole traders / proprietorships, partnerships, companies, clubs and societies) or who avails of other products / services from a bank.
Click to Download the Compensation Policy (Format: Adobe "PDF" Document) for your reference and printing.
