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    Compensation Policy

    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, introduction, meaning and scope of the compensation under various acts of errors / omissions by the bank including suitable fair compensation against such acts.

    Information published in this Document :

    • Introduction.
    • Erroneous Debits.
    • ECS direct debits/other debits to accounts.
    • ECS Credit.
    • Payment of Penal Interest.
    • Payment of Cheques after Stop Payment Instructions.
    • Issue of Duplicate Demand Draft.
    • Payment of Interest for Delay in Collection of Bills.
    • Foreign Cheques Sent for Collection.
    • Cheques Sent for collection (Inland).
    • Transaction of "at par instruments" of Co-operative Banks by Commercial Banks.
    • Reversal of Erroneous Debits arising on Fraudulent or Other Transactions.
    • Reversal of Erroneous / Unauthorized / Fraudulent Debits.
    • ATM Transactions.
    • Issue of unsolicited Credit Card.
    • Lenders' Commitments to borrowers.
    • Direct Selling Agencies.
    • Wrong Levy of charges.
    • Disclaimer clause.
    • Force Majeure.
    • Amendment/Modification of the Policy.

    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 here to Download the Compensation Policy for your reference and printing.