“Bank” or ``Payment Bank” means and includes any partner Bank which Monech has partnered with, towards offering any Services.

"Force Majeure Event" means any event due to any cause beyond the reasonable control of Monech, including without limitations, unavailability of any communication systems, breach, or virus in the processes or payment or delivery mechanism, sabotage, fire, flood, explosion, acts of god, civil commotion, strikes or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, unauthorised access to computer data and storage devices, computer crashes, malfunctioning in the computer terminal or the systems getting affected by any malicious, destructive or corrupting code or program, mechanical or technical errors/failures or power shut down, faults or failures in telecommunication etc.

“Know Your Customer (“KYC”) “ means the various laws and regulations issued by the RBI from time-to-time. To fulfil such KYC requirements, Monech procures personal identification details from You before any Services can be delivered.

“Personal Information” means any information provided by you to Monech.

“Prepaid Debit Card” means the Co-branded card issued by Monech in partnership with the Bank to you for the services and offers included.

“Rewards” means and includes and offers, discounts, cashbacks, reward programmes, any other forms of rewards provided on the platform

“Third party Provider/Third Party” means and includes a bank, association, company, partnership or any such entity whose facilities are used by Us to provide the Services to Users throughout the Platform.

“UPI” means a Unified Payment Facility as may be provided by National Payments Corporation of India , Rupay or any other partnered entity that represents the so called Payments Interface

Services” shall mean the services provided by Octo to the Users utilizing the Online Platform including content, features, technologies or functions offered or made available on the Online Platform:

  • - Branchless Banking
  • - Co-Branded Prepaid Card
  • - Budgeting & Tracking;
  • - Transaction Analysis

“Service Provider” shall mean any banking and/or non-banking entity with which Octo has, directly or indirectly, executed an agreement for facilitating any Services to the Users in association with such entity.


By registering with MONECH and using the App Services, you are representing the following:

  • - You are 13 years of age or older
  • - You have a valid PAN or AADHAR Card
  • - You will voluntarily have successfully completed KYC through biometric authentication through business facilitators and have complied with all other requirements including KYC requirements as may be specified by us.
  • - It can be opened for the sole purpose of personal use and not for the purpose of business/trading/professional/profit-making activity.
  • - You are capable of entering into a legally binding agreement; as specified under the Indian Contract Act, 1872 while availing of the Services offered by Octo and
  • You are not barred or otherwise legally prohibited from accessing or using Monech & the App Services.

Product Usage Guidlines

You hereby grant to the Company a non-exclusive, worldwide, royalty-free right to (a) collect, store and transmit Your Data, in each case solely to the extent necessary to provide the Services to You, and (b) share Your data or interact with other people, to distribute and publicly perform and display Your Data as You direct or enable through the Services.

You agree not to:

  • - publish the gold prices or descriptions of gold and/or any other information displayed on the Platform (in lieu of Your access to the Platform) on any other medium.
  • - modify, copy, distribute, transmit, display, perform, reproduce, publish, license, create derivative works from, transfer, or sell any information, software, products, or services obtained from the Services.
  • - attempt to reverse-engineer, disseminate, copy, exploit, or represent yourself as an agent or reseller of the Platform and the Services, or any part thereof;
  • - misrepresent yourself as or impersonate any other person, or otherwise cause harm to any person;
  • - upload or transmit any vulgar, obscene, abusive, defamatory, libelous, invasive, or unlawful content, including content that is objectionable or results in a breach of privacy of any other person;
  • - use or abuse the Platform for or in relation to any illegal or unlawful purposes including fraud, embezzlement, money laundering, etc.;
  • - violate any applicable laws, whether or not intended by you;

You represent and warrant that You are authorized to provide all Your data to the Company and to grant the rights granted to the Company in these Platform Usage Terms and Conditions and (ii) Your data and its transfer to and use by the Company as authorised by You under these Platform Usage Terms and Conditions do not violate any laws or rights of any third party, including without limitation any intellectual property rights, rights of privacy, or rights of publicity, and any use, collection, and disclosure authorised herein is not inconsistent with the terms of any applicable privacy policies.’

Product Usage-ATM

  • - The Card is accepted at the Yes Bank ATMs and Rupay enabled ATMs worldwide.
  • - Cash withdrawals and balance inquiries performed by the Cardholder at Rupay enabled ATMs in countries other than India will be subject to a fee, as per the prevailing tariff of charges. Cash withdrawals and balance inquiries at Rupay ATMs (non-Yes Bank) in India may also be subject to a fee (as decided by YesBank from time to time) and will be debited to the account at the time/later of such cash withdrawal and balance inquiry transactions. All transactions at non-YesBank ATMs are subjected to charges as determined by Yes Bank from time to time. The charge schedule is updated on the Yes Bank website.
  • - For all cash withdrawals, cheque/cash deposits at a Yes Bank ATM, any statement/receipt issued by the ATM at the time of deposit or withdrawal shall be deemed conclusive unless verified and intimated otherwise by YesBank. Any such verification shall likewise be final and conclusive and this verified amount will be binding on the Cardholder.
  • - YesBank will not be liable for any failure to provide any service or to perform any obligation hereunder where such failure is attributable (whether directly or indirectly) to any malfunction of the ATM or the Card, temporary insufficiency of funds, any dispute, or other circumstance beyond its control.
  • - YesBank will not be liable for any consequential or indirect loss or damage arising from or related to the loss/use of the Card and related PIN, however so caused.
  • - The availability of ATM services in a country other than that in which the Card was issued is governed by the local regulations in force in the said country. YesBank shall not be liable if these services are withdrawn without notice thereof

Wallet Usage:

  • - MIN KYC-MIN KYC can be done by User Mobile number and Aadhar Number or PAN Number. MIN KYC validity will be 2 year and customers can add 10k per month till 2 year and no cap to yearly limit. ATM Withdrawals are not possible with MIN KYC, only Online transactions and POS transactions are possible.
  • - For Full KYC Customer :-For Full KYC Biometric is needed Along with Aadhar Number and PAN. The monthly loading limit will be 5 Lakh per month, but you can't load 5 lakh at once, it can be 1 lakh slots, as the wallet can hold only 1 lakh at a time and the Yearly limit will be 15 Lakhs. ATM Withdrawals are with Full KYC, the limit would be 10k per transaction and Upto 40K per day ( 20 Rs will be charged in ATM for per transaction, Also for checking balance and to get Mini-statement bank will charge 10 Rs )Full KYC users can do Wallet to Wallet transfer and also Wallet to Bank fund transfer

Consennt For Aadhar Verification

Voluntary Consent for Aadhaar: You hereby submit voluntarily at your own discretion, your Aadhaar number as issued by Govt. of India, to Partner Bank and voluntarily give your consent to open account with Partner bank in my individual capacity using your Aadhaar number and / or as an authorized signatory in non-individual accounts and; to use your Aadhaar details for authentication with UIDAI. Monech/ Partner Bank has informed you that my information submitted to Partner Bank / BC herewith shall not be used for any purpose other than mentioned above, or as per requirements of law.

Voluntary Consent for Aadhaar Authentication:

  • - You hereby submit voluntarily your Aadhaar number issued by UIDAI, to Partner Bank and voluntarily give my consent to use my Aadhaar number for e-KYC authentication with UIDAI as per Aadhaar Act, 2016; for the purpose of Account opening and Aadhaar linking and/or specified instructions on my Bank account in my individual capacity and / or as an authorized signatory in non-individual accounts. You understand that Monech will not store Aadhaar details at their end.
  • - You voluntarily give my consent to Partner Bank to obtain and use your Aadhaar number, Name and Fingerprint/Iris and Aadhaar details for authentication with UIDAI as per Aadhaar Act, 2016 and all other applicable laws.
  • - Partner Bank has informed you that basis the voluntary consent given by you while submitting my Aadhaar number to Partner Bank, my Aadhaar details and identity information would only be used for e-KYC purpose, demographic authentication, validation, OTP authentication including; for availing banking services, operation of my accounts / relationships and for delivery of subsidies, benefits and services and / or any other facility relating to banking operations and further that your biometrics will not be stored / shared and; will be submitted to Central Identities Data Repository (CIDR) only for the purpose of authentication.
  • - You also authorize Partner Bank to link and authenticate your Aadhaar number to all my accounts / relationships with Partner Bank as may be opened in future.

Use of the Platform

1. In consideration of the above mentioned service granting you the rights hereunder, you hereby agree not to use the Website / App for any purpose that is unlawful under any applicable laws and/or in violation of the terms of these Terms and our Privacy Policy.

2. You shall not use it in any manner that could damage, disable, overburden, or impair our server, or any network(s) connected to any company server, or interfere with any other party’s use. You shall not attempt to gain unauthorized access to any functions and features, other user accounts, computer systems or networks connected to any company server, in any manner, including, through hacking, password mining or any other means

3. You accept that any and all operations emanating from your Device shall be assumed to have been initiated by you.

4. You shall not copy, reproduce, distribute, or create derivative works of our content. Also, you shall not reverse engineer or reverse compile our technology.

5. You shall request the Company to block the Account and change the passcode immediately for the Account, if your Device has been lost or stolen.

6. You are responsible for any and all activities that occur in your Account. You agree to notify the company immediately of any unauthorized use of the Account or any other breach of security. Neo-Bank shall not be liable for any loss to you owing to negligent actions or a failure on your part to inform the company, within a reasonable time, about loss or theft of your Device and/or any unauthorized access in your Account, either with or without your knowledge.

7. You shall be liable for losses incurred by the company or any other party due to a third party’s use of your Account. You shall not use any other person’s account at any time, without the permission of the account holder and the company and the payment bank.

8. We shall make all reasonable efforts to ensure that your information is kept confidential. However, the company or its partners shall not be responsible for any disclosure or leakage of confidential information and/or loss or damage of the Device due to theft, negligence or failure on your part to practice safe computing.

9. You shall ensure that while using the functions and features, all prevailing and applicable laws, rules and regulations, shall at all times, be strictly complied with by You and the company shall not be liable in any manner whatsoever for default of any nature, by you, regarding the same.

Third Party Affiliations

You hereby express content to be contacted by us, representatives, affiliates, collection agents or anyone calling on our behalf at any contact number, or physical or electronic address provided by you while registering your account with us. You further agree to us contacting you in any manner, including without limitation, emails, SMS messages, WhatsApp, calls using pre recorded messages or artificial voice, and notifications sent via our mobile application.

Your further express consent for the company to hire third parties for effective performance of the services.

Violation Of Terms

If we believe that you have violated any of the conditions as mentioned under these Terms or our Privacy Policy, we reserve the right to suspend your access to the App and/or delete your Account without prior notice to You. If we have reason to believe that there is suspicious or unusual activity being carried out through your account, we may temporarily or permanently suspend your access to the App Services or suspend your usage of the services. You may reach out to the MONECH support team to assist you with any query or question arising as a result of the afore-mentioned suspension/ deletion to resolve the same.

Intellectual Property Rights

1. The Platform and all information, content, materials, products including, but not limited to text, content, photographs, graphics, texts, video and audio content and computer code (“Content”) on the Platform is owned and controlled by the Company and the design, structure, selection and feel and arrangement of the Content is protected by copyright, patent and trademark laws and other various intellectual property rights either in the favour of the Company, MONECH or third parties from whom the appropriate permissions have been taken under applicable laws.

2. MONECH and its licensors, if any, are the sole owners of the underlying software and source code associated with the App Services and all the trademarks, copyright an any other intellectual property rights of any nature in the Product.

3. Further, You understand and accept that all information, except Your personal information and other data submitted by You for the purposes of transacting on the Platform, through the Platform shall be deemed the property of the Company, and the Company shall be free to use any ideas, concepts, know-how or techniques provided by You on the Platform, in any manner whatsoever.

4. You understand that you do not have the right to use any of Neo-Bank’s trade names, trademarks, service marks, logos, domain names, and other distinctive brand features. You do not have the right to remove, obscure, or alter any proprietary rights notices (including trademark and copyright notices), which may be affixed to or contained within the Services. You will not copy or transmit any of the Services

5. You further acknowledge that the Services may contain information which is designated confidential by Neo-Bank and that you shall not disclose such information without Neo-Bank’s prior written consent. You will not copy, create a derivative work from, modify, reverse engineer, reverse assemble or otherwise attempt to discover any source code, sell, assign, sublicense, grant a security interest in or otherwise transfer any rights in the Services.

Limitation of Liability

The Company will not be liable for any indirect, incidental, special, or consequential damages (including, without limitation, damages for interruption of services, loss of business, loss of profits, loss of revenue, loss of data, or loss or increased expense of use customer or any third party incurs), whether in an action in contract, warranty, tort (including, without limitation, negligence), or strict liability, even if the company has been advised of the possibility of such liabilities.

Further Company will not be responsible for problems that occur as a result of the use of any third-party software or hardware.


You agree to defend, indemnify and hold harmless the Company and the Company’s parents, subsidiaries, affiliates, employees, co-branders, licensors, licensees, consultants, contractors, third parties, and their respective officers, owners, partners, and employees, from and against any and all claims, demands, damages, obligations, losses, liabilities, causes of action, costs or debt, and expenses (including any legal fees) arising from:

  • - your signing and use of to the App OR Website;
  • - your violation of any of these terms and conditions and related policies;
  • - your violation of any third party right, including any intellectual property right or privacy right;
  • - the committing of any of the prohibited activities as stated here explicitly and as what can be inferred from the terms stated herein;
  • - your failure to be in compliance with applicable law of land, including tax regulations; or
  • - any claim that your use of the App caused damage to a third party.


The information contained in this website is for general information purposes only. The information is provided by MONECH and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

Through this website you are able to link to other websites which are not under the control of MONECH. We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.

Every effort is made to keep the website up and running smoothly. However, MONECH takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.

Disputes, Governing Law and Jurisdiction

The App, the App Services, all your transactions with the App, and our relationship shall be governed by the laws of India, without regard to conflict of law principles. You agree that all claims, differences and disputes which we may have shall be subject to the exclusive jurisdiction of the competent courts located in Bengaluru.

Any disputes arising out of any communication or use in relation to this app or MONECH shall be submitted to final and binding arbitration at the request of the disputing Party upon written notice to the other.

Force Majeure

Monech shall not be liable if any transaction does not fructify or may not be completed or for any failure on the part of the company to perform any of its obligations under these Terms and Conditions or those applicable specifically to its services/facilities if performance is prevented, hindered or delayed by a Force Majeure event and in such case its obligations shall be suspended for so long as the Force Majeure event continues.

Changes To Our Terms and Polocies Changes

We reserve all rights to change this Website and/or alter the terms and conditions of these terms and conditions at any time and retain all rights to deny access to anyone who the company believes has violated the provisions of these terms.

MONECH will post those changes on the APP and the WEBSITE to keep You aware of what information we will collect, how we will use it and under what circumstances MONECH may disclose it. Changes to these policies are effective from the day they are posted on this page.

You are advised to visit our website to keep yourself aware of any changes to this policy.



Product must be returned to us within 1 day from the date it has been delivered to the customer. Product must be returned with all tags attached in its original condition along with all packing material, courier receipt, invoice & other papers.


Once the Product is received to the company successfully, Monech Private Limited will instantly initiate the refund to your source account or chosen method of refund within 30 working days.

Refund and Cancellation for Service Provider Company

Due to service providers in nature “NO REFUND”,“NO CANCELLATION” will be entertained once the Payment has been made.

Cancellation Policy

Please note an order can only be canceled within 24 hours of placing the order. Once the order is processed after 24 hours, no cancellation request will be entertained.However return is possible for all orders/products.

Customers can CANCEL order only before the Order has been shipped/Dispatched. After the Product/s have been shipped, The Customer CANNOT Cancel the Orders. However, return is possible for all orders/products.

Shipping & Delivery Policies

Monech Private Limited ships its products to almost all parts of India. Orders placed will be shipped within 24* hrs. We ship on all days except Sunday and National Holidays.

For all areas serviced by reputed couriers, the delivery time would be within 3 to 4 business days of shipping (business days exclude Sundays and other holidays). For other areas the products will be shipped through multiple vendors and may take 1-2 weeks depending on location. At times there might be unexpected delays in the delivery of your order due to unavoidable and undetermined logistics challenges beyond our control for which Monech Private Limited is not liable and would request its users to cooperate as Monech Private Limited continuously tries to nought such instances. Also, Monech Private Limited reserves the right to cancel your order at its sole discretion in cases where it takes longer than usual delivery time or the shipment is physically untraceable and refund the amount paid for cancelled product(s) to your source account.

Contact Us

Monech Private Limited

Brand : Octo Money

1st floor, Shiva Arcade, 23, Old Madiwala, Jay Bheema Nagar, 1st Stage, BTM 1st Stage, Bengaluru, Karnataka 560068

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