In consideration of Al Masraf. (hereinafter referred to as “the Bank”) which expression shall include their successors and legal assigns, agreeing to open an Account (as hereinafter defined) to the Customer or the performance of any transaction or subscription to any Banking Service (as hereinafter defined), the Customer hereby agrees to the following terms and conditions (Terms and Conditions), in addition to any other terms and conditions issued by the Bank in relation to the Account(s) and Banking Services. These Terms and Conditions shall apply on all the bank accounts of any kind opened or maintained by the Customer with the Bank and these terms and conditions govern all the transactions conducted through those accounts. The Customer signature on the Bank’s Account opening forms and applications, subscription or usage of any Services/product offered by the Bank and conducting of any transaction with the Bank shall constitute an acceptance to these Terms and Conditions as amended from time to time.
- Words importing only the singular shall include the plural and vice versa.
- Where the Account is a Joint Account, reference to single customer shall be reference to all customers in the names of whom the account is opened, unless the text indicates otherwise.
- The words importing any gender shall include all genders, words importing person shall include a sole proprietor, partnership, firm, company, corporation or other legal person.
- These Terms and Conditions and their amendments constitute an integral part of the Account opening documents and relevant Banking Service documentations offered by the Bank to the Customer.
In these Terms and Conditions where the context so admits the followings expressions shall have the meanings herein designated unless the context otherwise require;
Account: means any of the following accounts: Current Account, Savings Account, Call Account, Fixed Deposit, and any other type of Account or deposit opened with the Bank under any name.
Bank: means………….branches, successors and legal assigns. Customer: means any natural or legal person who has an Account with the Bank and/or subscribed to utilizing any of the Bank Services.
Banking Service: means any kind of banking service(s) offered by the Bank to the Customers such as and without limitation Branch Banking, InternetBanking, Phonebanking,Mobile Banking, withdrawals, deposits and payments through Automated Teller Machines (ATM) and Cash Deposit Machines, making payments through the internet or any other technology, and /or any other kind of Banking Services provided to the Customer at any time.
Agents: means any person or persons appointed or approved by the Bank to support or offer Banking Services.
Beneficiary: means the authorized recipient of any funds through Banking Services.
Customer’s Instructions: means the instructions given by the Customer to the Bank from time to time regarding the Account. The Bank Electronic Instructions: means the Bank electronic documentation via the Internet ATMs, Mobile Banking, and Phone Banking, operating instructions or reference guidelines issued by the Bank in any written form or in the guide on the Bank website.
Internet; means a collection of information stored in a computer available throughout the world.
Swift: Society for Worldwide Interbank Financial Telecommunications, a computer network which provides interbank communication facilities worldwide.
User Identification: The Customer Identification number or word advised by the Bank to the Customer for the purposes of identification while using the Banking Services.
Business Day: means any official working day on which the Bank is open for business.
TIN: means secret “Telephone Identification Number”, which when used by the Customer in conjunction with the Login ID will allow the Subscriber access to the Phone Banking, it may also be the same personal identification numbers of the automated debit card issued by the Bank to the customer.
PIN: means the Personal Identification Number issued to the Cardholder and/or selected by the Cardholder to enable the Card to be used at an ATM, retail outlet accepting the Card, and other self-service terminals.
Value Date: means the date on which the funds pertaining to a Financial Transaction are made available to the beneficiary.
Card: means automated teller machine card (i.e. Visa Electron/Visa Debit Card) or any other Card issued by the Bank to its Customers to use it for cash withdrawal from Automated Teller Machines (ATM) or purchase of goods and services through the internet, phone, or any other mean where the card is not physically available at the time of the transaction when the bank allows to do so.
Cardholder: means any individual in the name of whom a Card is issued by the Bank to undertake financial transactions through the Account. The Cardholder includes the principle Cardholder and supplementary Cardholder, if any.