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Please read the following important information.
SABB recognises that it is important for you to know how we deal with your personal and financial information. SABB appreciates that you may be concerned about your privacy and about the confidentiality and security information we may gain about you on-line. SABB is committed to keeping that information secure.
We may change the content or services bound on our Web Site at any time without notice. Consequently, our Privacy Statement may change from time to time. Your continued access to, or use of, the Web Site means that you agree to and accept the changes we make. Please periodically review the Privacy Statement for changes.
There may also be specific and additional privacy provisions, which apply to certain sections of our Web Site, services provided to you, which will operate in addition to the provisions of this Privacy Statement. In the event of any inconsistency between the provision of this Privacy Statement and those other specific and additional provisions, the specific and additional provision will prevail.
We safeguard information we receive online from visitors who interact with our website. We maintain physical, electronic and procedural safeguards to guard your information. Unfortunately, no data transmission over the internet can be guaranteed as totally secure.
Once SABB receives your information, SABB will take all reasonable steps to protect the information it holds in its own system.
We will not collect any information about you except where you knowingly provide it to us through our Web Site. The information we collect about you will depend on how you use the facilities offered by the Web Site.
The information about you / our customers is not sold or shared with unaffiliated third party for their independent marketing purposes.
We will not reveal information about you / our customers to any external organization unless we have your authority or by law or the order of competent authority.
We will always be committed to protect you / our customers’ privacy.
By accessing this web site, you agree to be bound by these terms and conditions. If you do not agree, please do not access this site. The contents of this site should not be regarded as complete or up-to-date.
The information contained on the Site is for information purposes only. sabb.com does not hold itself out as providing legal, financial or other advice via the Site.
All products and services provided are subject to the terms and conditions and disclaimers of the applicable agreement governing their supply and use ("Product terms and conditions"). Where Product terms and conditions conflict with these Terms and Conditions, the Product terms and conditions shall prevail.
THE SAUDI BRITISH BANK “hereinafter may be referred to as SABB” does not offer financial services or products through its use and operation of the www.sabb.com portal, or gateway. Products or services on this Site do not constitute an offer or recommendation of any products or services provided by THE SAUDI BRITISH BANK. The information provided on this Site is not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use would be contrary to law or regulation. This Site should not be considered as communicating any invitation or inducement to engage in banking or investment activity or any offer to buy or sell any securities or other instruments outside Saudi Arabia where SABB is not licensed or authorised to preform such activities.
All the products and services that you may be able to view via this Site are available only with in Saudi Arabia It is the responsibility of any persons accessing this Site and any information available through this Site to inform himself or herself of and to observe fully the applicable laws and regulations of Saudi Arabia.
Products discussed on this Site may not have been registered or authorized by any central bank, governmental or regulatory authority in the country of your residence. Accordingly, you may not have the benefit of protection from the securities laws, banking laws and other relevant laws and regulations of your country of residence with respect to products or services referred to on or through this Site.
No representation is given that any securities, products, or services discussed in or accessible through this Site are suitable for you or any particular person. You acknowledge that your use of this Site and any requests for information you have made as a result of visiting this Site have not been solicited by THE SAUDI BRITISH BANK or any of its affiliates and that the provision of any information through this Site shall not constitute or be considered investment or financial advice."
The information, material and content provided in the pages of the Site may be changed at any time without notice. Changes may be made to these Terms and Conditions by us at any time without notice to you by updating the posting of the Terms and Conditions.
We are committed to protecting your privacy. All information gathered from you in connection with your use of the Site will be maintained in accordance with the applicable privacy policies disclosed for the Site.
Information or opinions provided by us or through a third party on the Site should not be used for investment advice and do not constitute an offer to sell or solicitation of an offer to buy any securities or financial instruments or any advice or recommendation with respect to such securities or other financial instruments or investments. When making a decision about your investments, you should seek the advice of a professional financial adviser.
In no event shall we be liable for any damages, losses or liabilities including without limitation, direct or indirect, special, incidental, consequential damages, losses or liabilities, in connection with your use of the site or your reliance on or use or inability to use the information, materials, products and services on the site, or in connection with any failure of performance, error, omission, interruption, defect, delay in operation or transmission, computer virus or line or system failure, even if you advise us of the possibility of such damages, losses or expenses.
We are not responsible for the accuracy, timeliness or the continued availability or the existence of content, hyper links, or third party websites or pages linked to the Site or any Local Site. Links to downloadable software sites are for convenience only and we are not responsible or liable for any difficulties or consequences associated with downloading the software. Use of any downloaded software is governed by the terms of the license agreement, if any, which accompanies or is provided with the software.
The Site may offer access to news services, market analysis, financial planning tools or other information provided by third parties on the Site. No endorsement or approval of any third parties or their advice, opinions, information, products or services is expressed or implied by any information on the Site. We do not control, cannot guarantee, and are not responsible for the accuracy, timeliness or even the continued availability or existence of such content.
Do not use ordinary e-mail to communicate personal or confidential information to us. Use the secure server available. Ordinary e-mail messages sent over the Internet may be intercepted, lost or altered. We are not responsible for them and will not be liable to you or anyone else for any damages in connection with any messages sent by you to us using ordinary e-mail.
This site includes material, trademarks, logos, slogans and products. We do not grant you any license to use them whether they belong to SABB or any third party intellectual property rights. SABB and its logo is registered in the Kingdom of Saudi Arabia. You are prohibited to copy or use SABB logo or any service products or any third party products without the prior written permission of the legal owner.
You are prohibited to use the Site for any purpose which is unlawful, abusive, libelous, obscene or threatening.
Please read the following important statements and terms and conditions before registering into SABBNET and SABBMOBILE service.
1. Policy Statement
This statement applies to this Website which is operated by The Saudi British Bank ("SABB") on the internet.
By accessing this website you agree to be bound by these terms and conditions. If you do not agree to be bound by these terms and conditions please do not access this site. The pages in this site provide general information about the products and services. The contents of this site are for information only. They should not be regarded as complete or up-to-date.
Any application for Islamic banking products and facilities will be subject to normal approval procedures. Fees and applicable charges may be payable in relation to Islamic banking products and facilities. Full details of fees, terms and conditions and product information in relation to Islamic banking products and facilities are available from any branch of SABB.
Certain services referred to in this website are intended for residents of Saudi Arabia and are not available to overseas residents as they may not comply with foreign laws.
SABB does not provide advice or make recommendations. Investments in shares or in other products involve risk and it is your responsibility to make any decision regarding investments.
This information is not intended to provide professional advice and should not be relied upon in that regard. Persons accessing these pages are advised to obtain appropriate professional advice where necessary.
2. No Warranty: SABB does not warrant the accuracy or completeness of this information and materials contained in this site and expressly disclaim liability for errors or omissions in the information and materials and no warranty of any kind can be applied in conjunction with the information and materials.
3. Limitation of Liability: In no event will SABB be liable for any damages, including without limitation direct or indirect, special, incidental, or consequential damages, losses or expenses arising in connection with this site or use thereof or inability to use by any party, or in connection with any failure of performance, error, omission, interruption, defect, delay in operation or transmission, computer virus or line or system failure, even if SABB, or representative thereof, are advised of the possibility of such damages, losses or expenses. Hyperlinks to other internet resources are at your own risk; the content, accuracy, opinions expressed, and other links provided by these resources are not investigated, verified, monitored, or endorsed by SABB.
4. Privacy and Security Statement: SABB recognizes that it is important for you to know how we deal with your personal and financial information. SABB appreciates that you may be concerned about your privacy and about the confidentiality and security information we may gain about you on-line. SABB is committed to keeping that information secure.
Without prejudice to clause 8.10.1, we may change the content or services bound on our Website at any time without notice. Consequently, our Privacy & Security Statement may change from time to time. Your continued access to, or use of, the Website means that you agree to and accept the changes we make. Please periodically review the Privacy & Security Statement for changes.
There may also be specific and additional privacy provisions which apply to certain sections of our Website accounts you hold with us or services provided to you, which will operate in addition to the provisions of this Privacy & Security Statement. In the event of any inconsistency between the provision of this Privacy & Security Statement and those other specific and additional provisions, the specific and additional provision will prevail.
You agree that the services will not be used to process or facilitate any activity through our channels that will involve or support any activity through our channels that will involve or support any act of Terrorism / Money laundering and meant for a sanctioned entity / country / person in any manner
5. Collection of Personal Information: We will not collect any information about you except where you knowingly provide it to us through our Website. The information we collect about you will depend on how you use the facilities offered by the Web Site.
6. Use and Disclosure of Information: We will not use or disclose information collected about you or otherwise that for a purpose made known to you, a purpose you would reasonably expect, a purpose required, authorized or permitted by or under any law, or a purpose otherwise authorized by you. You authorize us to provide the services which you have sought from SABB.
7. Security: We maintain strict security standards and procedures with a view to preventing unauthorized access to your data. We use leading technologies such as (but not limited to) data encryption, fire walls and server authentication to protect the security of your data.
Unfortunately, no data transmission over the internet can be guaranteed as totally secure. If your browser is appropriately configured it should tell you whether the information you are sending will be secure (generally by displaying an icon such as a padlock). The combination of a secure browser at your end and our security measures provided you with the best security currently available.
Once SABB receives your information, SABB will take all reasonable steps to protect the information it holds in its own system. If we no longer need your information, we will destroy or de-identify it.
8. Internet Banking Services Terms and Conditions:
8.1. About terms and conditions of internet use:
8.1.1 Definitions of references used in this contract:
• References to "you", "your" and "yours" are references to the person requesting the Internet Banking Service.
• References to "we", "us" and "our" are references to The Saudi British Bank.
• The "Terms" means the terms and conditions specified herein Clause 8, together with information contained within the 'help' pages of the Internet Banking Service, and any supplementary terms which we notify you under Clause 8.10.3 below, as amended from time to time.
• The "Internet Banking Service" is the Service provided by us to you described in the Terms whereby you may access certain information and give us certain Instructions in respect of certain accounts which you hold with us. Not all accounts may be accessed under this Service. For details of the accounts on which this Service is currently available please refer to the 'help' pages within the Internet Banking Service.
• The "Service" means the services offered to you.
• An "Instruction" is any request or instruction to us which is effected through the Internet Banking Service by use of a Security Number.
• The "Security Number" is the pass number (PIN) issued to or adopted by you for accessing the Internet Banking Service or executing Instructions via the Internet Banking Service.
8.2. Your Security Duties:
8.2.1 You agree to comply with the Terms and any security procedures mentioned in them.
8.2.2 You must keep your Electronic Banking Number and Security Number secure and secret at all times and takes steps to prevent unauthorized use of it. For example:
22.214.171.124 Never write or otherwise record the Electronic Banking Number or Security Number in a way that can be understood by someone else.
126.96.36.199 Never tell the Electronic Banking Number or Security Number to someone else including our staff.
188.8.131.52 Avoid Security Numbers which may be easy to guess such as birthdays, phone numbers, dates of birth etc.
8.2.3 You must tell us immediately of any unauthorized access to the Internet Banking Service or any unauthorized instruction that you know of or suspect or if you suspect someone else knows your Security Number. You must also change your Security Number immediately.
8.2.4 You agree to check carefully your records of transactions and statement of accounts and inform us immediately of any discrepancy.
8.3. Processing Your Instructions:
8.3.1 You request and authorize us to rely and act upon all apparently valid Instructions as instructions properly authorized by you, even if they may conflict with any other mandate given at any time concerning your accounts or affairs and to debit your accounts with any amounts we have paid or incurred in accordance with any Instructions.
8.3.2 An Instruction will only be accepted by us if it has been effected through the Internet Banking Service using an appropriate Security Number but we will not further check that such instructions are issued by you.
8.3.3 You agree that we can act on any Instructions given to us including deducting money from your account even if these Instructions were not authorized by you. However, your liability for transactions or Instructions which have not been authorized by you will be limited in the way set out in Clause 4 below.
8.3.4 We may refuse to act on an Instruction, for example if a transaction exceeds a particular value or other limit or if we know of or suspect a breach of security. Please refer to the 'help' pages within the Internet Banking Service for details of limits imposed upon transactions carried out through the Internet Banking Service. We will notify you of any changes made to these limits from time to time.
8.3.5 We are not liable for any failure by any third party with which you have accounts or any third party to execute or for any delay or other shortcoming of any such party when executing our instructions to them howsoever caused.
8.3.6 Bank may suspend any services provided to you in the event of any suspicious breach of security or in the case of extended periods of inactivity.
8.3.7 We will use reasonable efforts to inform you through the Internet Banking Service, and/or our website, if any Service under the Internet Banking Service is not available without undue delay. In the event that we have levied any charge to you which is specifically expressed to be for a particular Service which is not available (which for the avoidance of doubt shall not mean any periodic fee, if any, charged for the Internet Banking Service) then we will reimburse you this sum. Other than reimbursing any fee as set out above we will have no further liability to you.
8.3.8 We will make reasonable efforts to modify, not process or delay processing any Instruction where you request us to do so but we shall not be liable for any failure to comply with such request.
8.3.9 You must make sure that any Instruction is accurate and complete and we are not liable if this is not the case.
8.3.10 An instruction being carried out is not always simultaneous with an Instruction being given. Some matters may take time to process. In particular there are certain periods of time where the Internet Banking Service may be suspended for maintenance or other reasons. You can find further details of these on the help pages within the Internet Banking Service.
8.4. Your Liability For Unauthorized Instructions:
8.4.1 You are responsible for amounts debited to your account for use of SABBNET upon your or your agent’s signature against receipt of PIN and Electronic Banking Number. You are also responsible for the consequences of gross negligence which shall be deemed to include your failure to observe any of your security duties referred to in Clause 8.2).
8.4.2 Once you have notified us of any unauthorized access to the Internet Banking Service or unauthorized Instruction or that you suspect that someone else knows your Security Number, you will not be responsible for any unauthorized Instructions carried out after we have had reasonable and sufficient time to suspend the Internet Banking Service in respect of your account(s).
8.5. Our Liability To You:
8.5.1 You agree that unless we have specifically agreed with you otherwise, we shall have no liability whatsoever for any equipment, software or associated user documentation which any party other than us produces at any time for use in connection with the Internet Banking Service.
8.5.2 We shall not be liable to you for any loss you suffer due to any event or circumstances beyond our reasonable control which leads to the Internet Banking Service being wholly or partly unavailable such as but not limited to technical breakdown, strikes or other industrial action (whether or not involving our employees) or communications or power failure.
8.5.3 If you experience technical problems while using Internet Banking, please contact the SABBDirect to process your transaction.
8.5.4 Your transaction will be processed in the next working day subject to the availability of funds in your account. Please contact call center 800-124-8888 if you experience delays in processing your request.
8.6. Account Types:
8.6.1 Not all accounts may be accessed under this Service. For details of accounts on which this Service is currently available please refer to the 'help' pages within the Internet Banking Service.
8.6.2 If you wish to add any other accounts which belong to you, we shall provide this service at your request.
8.7. Internet Banking Records and Transaction Terms:
8.7.1 Our records, unless shown to be wrong, will be evidence of your dealings with us in connection with the Internet Banking Service.
8.7.2 You agree not to object to the admission of our records as evidence in any legal proceedings because such records are not originals, are not in writing or are documents produced by a computer.
8.7.3 Where you give us an Instruction or request a transaction through the Internet Banking Service the Terms will apply in addition to the existing terms and conditions in respect of your dealings with us either in respect of particular accounts or products or generally even if you have not signed such terms and conditions. In event of any inconsistency the Terms will apply.
8.8. Software License and Encryption:
8.8.1 You will not be able to use the Internet Banking Service unless the software you are using has a minimum level of encryption. Further details of this can be found on the 'help' pages of the Internet Banking Service.
8.8.2 You agree to be bound by the terms of the license or similar agreement governing the use of any software used to enable you to use the Internet Banking Service. If you do not agree to such terms or agreement you should not use the Internet Banking Service.
8.8.3 You should be aware of any export restrictions contained in any software used to enable you to use the Internet Banking Service and should keep up to date with such restrictions and the other terms of the software license or other agreement by regularly checking the relevant software publisher's website.
8.9. Information about You: Where we need to pass information to other banks and financial institutions in order to execute your instructions or where we reasonably think it is necessary or desirable for the provision of the Internet Banking Service, you authorize us to transmit and store information about you and your accounts and to provide second parties with such information. In any event we , or any other second party to whom we have transmitted information about you or your account, will be permitted to disclosure such information if they are legally compelled to do so (whether by the laws of The Kingdom of Saudi Arabia or the law of any jurisdiction to which such information is transmitted).
8.10. Fees, Supplementary Terms, Changes To And Termination Of The Contract:
8.10.1 You agree to pay our scale of charges (if any) for providing the Internet Banking Service as we advise you from time to time. We may vary our charges and the frequency and dates of payment on giving you no less than 30 days notice.
8.10.2 You authorize us to debit any of your accounts with any charges for providing the Internet Banking Service.
8.10.3 When we introduce new Services under the Internet Banking Service we may provide them on supplementary terms which will be notified to you from time to time in accordance with these Terms.
8.10.4 We may modify the Terms on not less than 30 days notice to you or such shorter period (other than in the case of any variations to our charges) as is necessary for the effective operation of the Internet Banking Service.
8.10.5 The Terms may be terminated by either party giving not less than 21 days written notice to the other.
8.11. Agency, Notices and Law:
8.11.1 We may at time appoint one or more agents to provide all or any part of the Internet Banking Service and references to "we", "us" or "our" will include references to such agents.
8.11.2 All notices and advises to be given by us to you under the Terms (including any amendments to the Terms) may be given in writing or electronically over the Internet Banking Service. All such notices and advises will be deemed to have been received by you:
In the case of posting, by registered mail to the last address provided by you.
In the case of notification via the Internet Banking Service.
8.11.3 The contract is governed by and is to be interpreted in accordance with the laws of the Kingdom of Saudi Arabia. You and we agree that The SAMA Committee for Settlement of Banking Disputes is the competent authority to handle all disputes and matters arising in respect of this contract in line with Sharia rules.
8.11.4 The Bank is required to act in accordance with the laws and regulations operating in Saudi Arabia which relate to the prevention of money laundering, terrorist financing and the provision of financial and other services to any persons or entities which may be subject to sanctions.
8.11.5 The Bank reserves the right to take any action as deemed appropriate in respect of the relationship or associated financial transactions conducted, in the light of UN/EU/OFAC or local sanctions imposed.
9. E-STATEMENTS AND E-ADVICES
9.1. If you activate the "e-statement" facility through the Service or you register for Internet Banking Services, your Account & Credit Card statements will henceforth be sent to you electronically. On the statement due date, you will receive an electronic advice (e-advice) on SABBNET informing you that your e-statement is available. If you do not have the software already, you will need to download the Acrobat Reader (version 4.0 or above) software on your computer in order to view, save or print your e-statements. In the event that you do not have this software already installed on your computer, you may download the software free from www.adobe.com. If you prefer to revert to the method of the Bank mailing to your paper statements, you may deselect the e-statement option at any time for Account Statements or Contact 800 124 8888 for Credit Card Statement. Paper statements, for joint accounts, will be sent to you if any party to a joint account has not registered to use the Service or if any party to a joint account deselects the e-statement option
9.2. If you activate the "e-advice" facility through the Service, you will receive your transaction advices electronically through the Service, and paper advices will cease to be sent to you.
9.3. The e-statement and e-advice facilities are not available through Mobile Banking.
10. Trademarks and copyright
Copyright in the pages screens, information and material in their arrangement included in this Site is owned by or licensed to SABB unless otherwise noted. You may imprint, copy, download or temporarily store extracts from our Site for your personal information or when you use our products and services. You must not alter anything. Any other use is prohibited unless you first get our written permission. In particular no one may use a part of our Site on any other website, or link any other website to our Site, without our prior written permission.
11. Share Information regarding Client Assets
We, Saudi British Bank (“SABB”), kindly request that you as Customer of SABB read and then sign the following consent form where the definition of any term used in bold/italics may be found in the Glossary of Defined Terms Used in the Regulations and Rules of the Capital Market Authority (“CMA”).
12. Value Added Tax
Without prejudice to the provisions of the Saudi Value Added Tax Law and its Implementing Regulations, that Bank will charge a Value Added Tax at the rates prevailing by the Saudi Government from time to time without the need to obtaining your prior approval, Vat amount - if applicable - will be disclosed with every transaction.
Consent to Share Information regarding Client Assets
You as Client of HSBC Saudi Arabia Limited (HSBC SA), having one or more than one Investment Account(s) with HSBC SA (“Investment Account(s)”) hereby consent and allow SABB to request HSBC SA to share your Client Assets information (including but not limited to balances in your Client Account(s) and value of the Securities) relating to the Investment Account(s) with SABB (“Consent”) for the purposes of assessing your overall financial position and providing you different investment solutions for your consideration.
Consent Communication to HSBC SA
For the purposes of Article 29 (Confidentiality), Authorized Persons Regulations, you hereby authorize SABB to communicate your Consent to HSBC SA and fully authorize HSBC SA to rely upon your Consent hereof and disclose information relating to Client Assets to SABB as and when requested by SABB. For the purposes of contractual relationship, HSBC SA shall be deemed to be a party to this document.
By accepting this Form, the acceptance is indicating that HSBC SA and SABB are duly authorized to act for and on behalf of the Client as per above mentioned Consent.
Terms and Conditions for the use of Business Internet Banking and
Business Telephone Banking
The Customer shall be bound by the General Terms and Conditions for the Operation of Accounts and Electronic Banking Services governing the types of accounts in connection with the Service and in case of conflict between the said General Terms and Conditions and these Terms and Conditions, the latter shall prevail.
In these Terms and Conditions, unless the context otherwise requires:
"Company" means properly constituted Limited Liability Company / general partnership / Joint Stock Company or any other company duly formed and constituted under the laws of the Kingdom of Saudi Arabia.
"Establishment” means an establishment duly constituted under the laws of the Kingdom of Saudi Arabia.
"Customer" means the authorized person(s) of the company or the owner of the establishment.
"Account" means the Business Account established by the Establishment / Company.
"SABB Business Internet Banking" means the Internet Banking Service offered by the Bank to the establishment / company. This service is available to all business accountholders.
"SABB Business Direct" means the telephone banking service offered by the Bank to the Establishment / Company. This service is available to all business accountholders.
"Authorized delegate SABB BIB and Business Direct Service User" means the owner of the Establishment / or the person authorized by the Company to operate the Account by internet and telephone.
"Personal Identification Number" means the code number for the time being, established for the Authorized SABB BIB and Business Direct Service User for the purpose of identification of the Authorized SABB BIB and Business Direct Service User in giving instructions to the Bank by internet and telephone.
"Credit Account" means any account maintained with the Bank for the time being, designated for the purpose of making withdrawal of funds in relation to the Business Internet and Telephone Banking Service.
"Full Access" means that the user has the ability to complete all transactions and inquiry services through the use of SABB BIB and Business Direct Services.
"Inquiry Access" means that the user has the ability to complete only inquiry functions on SABB BIB Business Direct.
“Authorized Internet Banking User(s)” means the individuals who are authorized from time to time by the Customer to use the Services to issue Instructions, including both Primary and Secondary Users.
“Delegate” means any of the Primary User(s) or Secondary Users who are authorized from time to time by the Customer to use the Services to issue instructions.
The “Security Code” means the one-time password generated by the
The “Security Device” means an electronic device used to generate the
3. Service Scope
The Bank will from time to time specify the scope and features of the SABB BIB and Business Direct Services and may modify, expand or reduce the same at any time and from time to time with or without notice. Where such notice shall, in the sole discretion of the Bank, be given, such notice may be made in such manner and by such means of communication as the Bank shall deem fit, including without limitation, the use of direct mailing materials, advertisement or branch display.
For companies: partners resolution or board resolution or board of managers resolution as per as the company’s articles of association delegating the authorized signatories to use business internet banking and business telephone banking services specifying the type of service that a delegate can perform on behalf of the company.
The Authorized Signatories can nominate Primary Users, who can then create Secondary Users.
5. Limitation of Liability and Indemnity:
The Bank is authorized to act on the instruction of the Establishment / Company given by the Authorized SABB BIB and Business Direct Service User by internet and telephone ("internet and telephone instruction") and the Customer agrees that:
(b) the Authorized SABB BIB and Business Direct Service User shall undertake to keep the PIN strictly confidential at all times and the Establishment/Company and / or Authorized SABB BIB and Business Direct Service User shall report to the Bank immediately upon loss of the PIN and becoming aware that the PIN has fallen into the hands of any unauthorized party;
(c) the Customer shall ensure that there are sufficient funds or pre-arranged credit facilities in the Establishment / Company account(s) for the purpose of the internet and telephone or other instructions, and the Bank shall not be liable for any consequence arising out of the Bank’s failure to carry out such instructions due to inadequacy of fund and / or credit facilities proved always that if the Bank at its sole discretion shall decide to carry out the instructions not withstanding such inadequacy, the Bank may do so without seeking prior approval from or notice to the Establishment / Company. The Establishment / Company shall be responsible for the resulting overdraft, advance or credit thereby created;
(d) any exchange rate or interest rate quoted by the Bank in response to internet and telephone instruction is for reference only and shall not be binding on the Bank unless confirmed by the Bank for the purpose of transaction. Such confirmed exchange rate or interest rate, if accepted by the Authorized SABB BIB and Business Direct Service User through the SABB BIB and Business Direct Service, shall be absolutely binding on the Establishment / Company notwithstanding that a different exchange rate or interest rate might have been quoted by the Bank at the relevant time through other means of communication;
(e) the Bank shall not be liable to the Establishment / Company for any failure to carry out any internet and telephone instruction which is attributable, wholly or in part, to any cause beyond the Bank’s control including any equipment malfunction or failure and under no circumstances shall the Bank be responsible to the Establishment / Company for any indirect or consequential losses arising out or in connection with the carrying out or otherwise of the Authorized SABB BIB and Business Direct Service User’s telephone instructions;
(f) the Establishment / Company shall keep the Bank indemnified at all times against all actions, proceedings, claims, losses, damages, costs, and expenses which may be brought against the Bank, or suffered or incurred by the Bank and which shall have arisen either directly or indirectly out of, or in connection with the Bank accepting telephone instructions and acting or failing to act thereon unless due to the willful default of the Bank. Such indemnity shall continue notwithstanding the termination of the account relationship;
(g) the Authorized SABB BIB and Business Direct Service User’s right to give internet and telephone instructions pursuant to the Terms and Conditions herein shall at all times be subject to the discretion of the Bank and that the Bank may at any time revoke such right with prior notice;
(h) all Authorized SABB BIB and Business Direct Service Users shall be entitled to use the SABB BIB and Business Direct Service singly irrespective of their signing authority under the mandates for either or all of the Account, the Debit Account(s) and Credit Account(s);
(i) the Establishment / Company shall notify the holder of the Credit Account(s) or such other account(s) not designated as Credit Account(s) but to which the Customer has transferred money using the SABB BIB and Business Direct Service. The Bank shall not be responsible to the Customer or any other person for giving any such notice;
(j) if there is more than one Customer, then under the provisions herein:
(i) the liabilities and obligation of each of them shall be several,
(ii) references to the Customer shall be construed, as the context requires, to any or each of them,
(iii) each of them shall be bound even though any other Customer or any person intended to be bound hereby is not, and
(iv) the Bank shall be entitled to deal separately with a Customer on any matter, including the discharge of any liability to any extent, without affecting the liability of any other Customer, and
(k) the Customer understands and acknowledges that telephone instructions may not necessarily be processed by the Bank immediately, or on the same day of the giving of such telephone instructions due to system constraint or the banking procedures of the Bank. The Customer agrees that the Bank shall not be held responsible to the Customer or any other person for affecting such internet and telephone instructions at a later time and the Bank’s decision as to when to effect the said internet and telephone instructions shall be final and binding on the Customer.
You are responsible for acquiring and maintaining any equipment required for your continued access to and use of the Internet Site (such as your telephone or computer) and for your own computer’s anti-virus software and security measures.
You confirm that you have assessed the security features of internet banking and have determined that they are adequate to protect each of the Delegate’s and your interests in using the Services.
You agree to ensure that each of your Delegates complies with the terms of this Agreement and any security procedures mentioned or referred to in it including, inter alia, the security recommendations contained in the User Guide.
If you suspect any impropriety on the part of any Delegate in connection with the Services or a Delegate leaves your business, you must take all steps available to ensure that the Delegate is unable to access the Services. You further undertake to notify us immediately to terminate such Delegate’s access to the Services.
Each Delegate will be issued with a User ID and a Password notified to them directly but at separate intervals.
The Customer shall follow the guidance provided by the Bank on-line in designating the User ID and the Password for identifying the Customer for the purposes of the Services.
The Bank may, in its sole discretion, require a Customer to use a Security Code to access the Services in the event of which it is the sole responsibility of the Customer to apply to the Bank for a Security Device or a replacement if a Security Device has previously been issued but is subsequently lost or has failed to function as intended.
The Customer shall act in good faith, exercise reasonable care and diligence in keeping the User ID, the Password, the Security Device and/or the Security Code secret. At no time and under no circumstances shall the Customer disclose the User ID, the Password and/or the Security Code to any other person or permit the Security Device to come into the possession or control of any other person.
The Customer shall be fully responsible for any accidental or unauthorized disclosure of the User ID, the Password, the Security Device or the Security Code to any other person and shall bear the risk of the User ID, the Password, the Security Device or the Security Code being used by unauthorized persons or for unauthorized purposes.
Upon notice or suspicion of the User ID, the Password, the Security Device and/or the Security Code being disclosed to, and/or the Security Device being lost or has otherwise come into the possession or control of any unauthorized person or any unauthorized use of the Services being made, the Customer shall notify the Bank as soon as practicable (and the
Bank may ask the Customer to confirm in writing any details given) and, until the Bank’s actual receipt of such notification, the Customer shall remain responsible for any and all use of the Services by unauthorized persons or for unauthorized purposes.
The Bank reserves the right to impose service fees and / or other charges from time to time as the Bank in its absolute discretion thinks fit.
7. Governing Law
These Terms and Conditions shall be governed by and construed in accordance with the laws of the Kingdom of Saudi Arabia
8. Value Added Tax
Without prejudice to the provisions of the Saudi Value Added Tax Law and its implementing Regulations, that Bank will charge a Value Added Tax at the rates prevailing by the Saudi Government from time to time without the need to obtaining the prior approval of the Costumer, Vat amount - if applicable - will be disclosed with every transaction.
At my specific request, The Saudi British Bank ("the Bank") has agreed that it shall from time to time act in accordance with SABB Voltage instructions given, or which purport to be given, by me or an authorized representative of my company.
In consideration of the Bank, and its employees, agreeing to accept and act upon any SABB Voltage instructions I hereby irrevocably undertake to indemnify the Bank and hold it harmless from and against all costs including without limitation legal fees and expenses, claims, losses, liabilities, damages actions and proceedings whatsoever that the Bank may suffer or incur or that may arise as a result of the Bank’s accepting or acting upon such instructions, or documents. I irrevocably authorize the Bank, based on the authority/delegation provided earlier, to debit my company's account immediately for all sums paid by the Bank in respect of money whatsoever costs, charges, expenses and service charges which the Bank may incur as a result of complying with my aforesaid instructions. Furthermore, I hereby release the Bank from all liability in the event that my SABB Voltage instruction is not received or is mutilated or altered, illegible or interrupted, duplicated, incomplete, unauthorized or delayed for any reasons.
(i) Caused by unauthorized use or forging of my or an authorized representative’s signature;
(ii) Arising from any error or ambiguity in any instructions received by the Bank; or
(iii) Caused by the Bank acting on SABB Voltage instructions given by any person whom the Bank genuinely believed to be me or to have authority/delegation to give instructions on my behalf.
In the case of SABB Voltage instructions, the original or a copy thereof shall be conclusive evidence of such instructions and this authority and indemnity shall not be prejudiced by any confirmation or other communications relating to such SABB Voltage instructions or by the absence thereof.
The Bank shall have absolute discretion for any reason whatsoever to act or not to act upon SABB Voltage instructions to request verification of documents received by such means. The Bank shall not be liable for any loss, damage, delay or inconvenience that may result from such request for verifications.
This authority and indemnity shall be governed and construed according to the laws of the Kingdom of Saudi Arabia.
Reset of password should be requested in writing by the company's authorized signatory(ies)
All praise is due to Allah, the cherisher of world, and peace and blessing be upon our prophet Mohammed and on his family and all his companions.
These Terms and Conditions are for the following products & services:
b) Current Account
c) Saving Account
d) ATM Card/Debit Card
e) SABB Direct
1. Definitions: “Account” means the Account which is the subject of the application on the reverse side of these Terms and Conditions and any subsequent Current Account(s) opened by the same customer. It is opened with the Bank for deposit and withdrawal purposes only. No profits are earned.
“Accountholder” means the applicant for the Account (one person or more whether natural or corporate).
“Bank or SABB” means the Saudi British Bank or its successors.
“Cardholder” means the person to whom the ATM card is issued.
“Card” refers to ATM Cards/Debit Cards issued by the Bank to the Cardholder which may be used to effect Banking transactions on the Cardholder's Account by electronic means whether at an Automated Teller Machine or Point Of Sale terminal, through services provided directly by the Bank or through another party on behalf of the Bank, whether inside or outside the Kingdom of Saudi Arabia.
2. Authorised Agents/Power of Attorney: Where the Accountholder issues a Power of Attorney executed by his employer or on the Bank's standard letter-head papers to an Agent/Attorney to operate the Account and to make other acts and things the agent’s / attorney’s acts will be binding on the Accountholder and the Accountholder hereby requests the Bank to rely on such Power of Attorney which will remain in force and effect until such time as the Bank receives from the Accountholder a written revocation of the Power of Attorney. The Accountholder shall indemnify and hold the Bank harmless from any and all claims and liabilities paid or incurred by the Bank in connection with the acceptance of such Power of Attorney, and the operation of the Account by the Attorney.
The signatory/ies to the Account/s, is/are authorised to:
a) Operate the Account (deposit and withdrawal).
b) Withdraw and deal with any securities or property or documents of title in the name/s of the Accountholder/s, which may be deposited with the Bank for safe custody or in safe deposit from time to time, whether by way of security or otherwise.
c) Arrange with the Bank for extension of Islamic facilities.
d) Sign on behalf of the Accountholder/s, any form of deposit and withdrawal, memorandum of deposit, letter of trust, mortgage, hypothecation and pledge to secure any Islamic facilities and any obligation, undertakings, indemnities and counter indemnities and any other documents relating thereto.
Should the Accountholder authorise the Attorney otherwise, the Bank will be informed in writing and approve the same.
3. Debit of Charges: The Bank shall have the right, without reference to the Accountholder to debit the Account with all expenses, fees and taxes, etc. paid or incurred by the Bank or its Correspondents on behalf of the Accountholder.
4. Set-off: All the Accounts of the Accountholder, regardless of its currency, shall only constitute one single Account. The Bank shall without prior notice combine or consolidate all the Accounts with the liabilities of the Accountholder, and set-off or transfer any sum/s standing to the credit of any such Accounts or any other sum/s owing from the Bank in or towards satisfaction of any liabilities to the Bank on any other Account or in any other respect whether such liabilities are actual or contingent.
5. Foreign Currency Accounts: Amounts deposited in foreign currency Accounts shall be withdrawn in Saudi Riyals or any major foreign currencies at the Bank's buying rate for the respective currencies applicable at the time of withdrawal. Withdrawals may be made in the currency of the Account, subject to the deduction of the Bank's usual charges for such transactions.
6. Amounts Deposited by Mistake: The Bank reserves the right without prior notice to the Accountholder to debit/reverse any payments or deposits that doesn’t belongs to him which is credited to his Account by mistake, whether the mistake was from the Bank or its employees or its customers or others. The customer doesn’t have the right to claim any of these amounts.
7. In Case of Death/Incapacity/Insolvency: The Bank, upon knowing of the death of any Accountholder or of the loss of capacity or Bankruptcy by court order, will stop the operation of the Account, and all monies, securities and property now or thereafter standing to the credit of the Account with the Bank, or held by the Bank on behalf of the Accountholder, will only be released upon appointment of the heirs of the deceased by the relevant authorities and the production of the necessary documentation authorising such release.
The Bank may exercise the right of set-off referred to in Section (4) above and apply all or part of the credit balance of the Account to any indebtedness, matured or unmeasured, owed by any Accountholder.
8. Documents in Accountholder’s Custody: Chequebooks, and any other document(s) issued to the Accountholder shall be under his sole responsibility. The Bank shall not be responsible for use of such items by other parties.
9. Minimum Balance Requirements: Without prejudice to the Bank's right to close the Account of the Account Holder, as stipulated in Article 10 of this agreement, the Account Holder is under no obligation to maintain any minimum balance in the Account.
10. Account Closure: Either the Bank or the Accountholder may close the Account at any time on the following occasions:
a) When the Accountholder submits an official request to close the Account. The Accountholder must return the ATM card and any unused cheques to the Bank.
b) The Bank reserves the right to close the Account if the Account balance remains zero for 90 days from the Account opening date.
c) The Bank reserves the right to close the Account if the Accountholder withdraw the full balance and the Account balance remains at zero for a period of 4 years.
d) The Bank reserves the right to close the Account if there are incomplete information or the in case the Account is used for any purposes other than what it was opened for, or the Bank suspects any transaction found to be against the rules governing Anti Money Laundering and Combating Terrorist Financing and the Bank may, if there are no regulatory restrictions, return the available balance to its rightful source.
e) The Bank will notify the Accountholder of the decision of Account closure 30 days prior to the effective date, by any means it deems fit.
f) The Account Holder must return to the Bank the Card (as defined in these Terms and Conditions) and the cheque book(s) upon closing the Account.
g) The Bank must destroy any received cheque book(s) and Card upon the Customer's closure of the Account.
h) The Bank has the right to refuse and/or reject the Account Holder's request to close the Account in case there are any pending financial services or products that are linked to the Account. Such services may and products may include, but not limited to: Credit Cards, Loans, advance payment, credit facilities or any other product or service that requires maintaining the Account.
11. Amendment of Terms and Conditions: The Bank reserves the right at all times to vary or amend the Terms and Conditions and/or introduce new Terms and Conditions. The Bank will notify the Accountholder of such variations or amendments, 30 days prior to the effective date, by any means it deems fit. Such variations or amendments will become effective and binding for the Accountholder from the day they are published and made effective. If the Accountholder is unwilling to accept any such variations or amendments, he/she may choose to stop using the Bank’s services, by closing the Account and must return the ATM Card along with any unused cheques to the Bank for cancellation.
12. Joint Accounts:
a) Each joint Accountholder shall be jointly and severally responsible for any amounts due to the Bank in connection with the aforesaid Accounts.
b) If more than one person signs, or agrees to be bound by these Terms and Conditions, the obligations of such persons hereunder will be joint and several and, as the context may require, words herein denoting the singular only will be deemed to include the plural. Any notice hereunder to any of such persons will be deemed effective notification to all such persons.
13. Change of Business Structure: All information relating to partnership Terms and Conditions, memorandum and articles of association, rules of Club/Society/Association and authorised signatories which have been communicated to the Bank shall remain in force until a copy of any amendments thereof certified by the Accountholder/s has been delivered to the Bank.
14. Overdrafts: Unless the Accountholder has an overdraft credit facility under a separate agreement with the Bank, the following will be applied:
a) Cheques causing the Account to be over drawn will be returned and the Account will be charged in accordance with the Tariff of Charges issued by the Bank from time to time for each returned cheque.
b) In case an ATM cash withdrawal, deposited Cheque, Debit Card transaction or any payment instrument creates an overdraft and it is inadvertently honoured by the Bank, the Accountholder shall promptly, upon demand, pay to the Bank the amount of the overdraft.
15. Inactive accounts, relationships and banking transactions:
a) Account is considered to be Active if no more than 24 calendar months has elapsed from the date of last financial transaction (Cash Deposit / Check Deposit / Cash withdrawal / Issuance Draft Check / Outgoing transfer) done by the customer or his authorized attorney through any authenticated bank channel.
b) Account is considered to be Dormant if it completes more than 24 calendar months from the date of last financial transaction (Cash Deposit / Check Deposit / Cash withdrawal / Issuance Draft Check / Outgoing transfer) done by the customer or his authorized attorney through any authenticated bank channel.
c) Account is considered to be Unclaimed if it completes 60 calendar months from the date of last financial transaction (Cash Deposit / Check Deposit / Cash withdrawal / Issuance Draft Check / Outgoing transfer) done by the customer or his authorized attorney through any authenticated bank channel.
d) Account is considered to be Abandoned if it completes 180 calendar months from the date of last financial transaction (Cash Deposit / Check Deposit / Cash withdrawal / Issuance Draft Check / Outgoing transfer) done by the customer or his authorized attorney through any authenticated bank channel.
a) The Bank is authorised to debit the Account with all amounts and any other related charges and commissions claimed by the Bank in respect of guarantees, Bills, cheques, orders of payment or other negotiable instruments sent for collection but not honored. The Bank will not be liable for any loss due to a fault by any local or foreign Bank or any correspondent acting on behalf of the Bank.
b) All payment orders and currency exchange transactions in Saudi Arabia or elsewhere, undertaken by the Bank on behalf of the Accountholder/s, shall be at the risk and expense of the Accountholder.
c) The Bank reserves the right to disclose, in strict confidence, to other institutions, such information concerning the Account as may be necessary, or appropriate, in connection with its participation in any electronic fund transfer network.
d) These Terms and Conditions shall be governed by and construed in accordance with the Sharia laws in force in the Kingdom of Saudi Arabia.
e) The account information will be shared with the authorities inside or outside the Kingdom of Saudi Arabia under the consent of the local regulators whenever deemed appropriate.
f) For remittance, please note that the Kingdom’s rules prohibit remittance of funds if the customer (remitter) does not know the beneficiary (transferee) or there is no appropriate relationship with the beneficiary or no legitimate purpose.
g) SABB will keep the original related documents of this agreement for 10 years after the end of this contractual relationship.
h) Without prejudice to the provisions of the Saudi Value Added Tax Law and its Implementing Regulations, the bank will charge a Value Added Tax at the rates prevailing by the Saudi Government from time to time without the need to obtaining the prior approval of the customer, the VAT amount - if applied - will be disclosed with every transaction.
b) Current Accounts
1. Right to Payment of Profit: The monies in the Account are held on demand. However the Bank may utilise such monies with a guarantee of payment upon request. The Accountholder has no right to claim profits.
2. Statements of Account: The records and the Accounts maintained by the Bank are considered to be correct, final and conclusive evidence binding on the Account holder and objection rights shall be waived after one month from dispatch of Statement of Account to the Account holder at his latest address recorded with the Bank.
3. Foreign Currency Account: Excluding Saudi Riyal accounts, in the event of negative interest rates I/we irrevocably and unconditionally undertake to bear any costs incurred by SABB in safe keeping of foreign currency credit balances in our accounts. These charges will be published on SABB website under Personal Banking section.
Saving Account is a current Account of special features. However no profits will be attracted nor will cheque books be issued. The Accountholder must use the vouchers prepared by the Bank for any withdrawals or deposits. No withdrawal by cheque or any other method is allowed, except by ATM Card.
The Card shall be used by the Accountholder for performing Banking transactions on the Accountholder’s Account by electronic means such as ATM’s or POS or through services offered directly by SABB or through other parties on behalf of SABB inside or outside of the KSA.
1. The Card remains the property of the Bank and shall be returned immediately by the Cardholder at the request of the Bank.
2. Immediately on receipt of the Card, the Cardholder will sign with a ballpoint pen, in the panel marked “Cardholder’s Signature” on the back of the Card. Such signature to be in the same style and form as that provided to the Bank on the form applying for the Card.
3. The Bank reserves the right to withdraw or cancel the Card, and/or any of the facilities provided by usage of the Card, at any time, with or without cause, or with or without prior notice to the Cardholder.
4. The Cardholder may cancel the Card with or without prior notice, or with or without cause, by returning it to the Bank with written instructions to this effect. The obligations of the Cardholder herein shall cease only when all outstanding transactions using the Card have been settled to the satisfaction of the Bank.
5. The Cardholder will be responsible for all Card facilities granted by the Bank in respect of the Card.
6. The Cardholder will exercise every possible care to prevent the Card from being used by any other person, and from being lost or stolen, and shall notify the Bank immediately and confirm to the Bank in writing in case of theft or loss of the Card. It is understood the Bank will not be liable for transactions prior to receiptof written notification of loss or theft of the Card.
The loss or theft or any unauthorised use of the Card should be reported immediately upon discovery to the Bank's Card Centre on telephone no. 920007222, and immediately confirmed by fax or in writing. However, it is understood that any telephone or fax notification is neither binding on the Bank nor can it release the Cardholder from responsibility and liabilities unless written confirmation of the loss of the Card is received by the Bank.
The Bank will be under no obligation to issue a replacement Card to the Cardholder following its loss or theft. In case the Bank agrees to issue a replacement Card, such Card will be subject to the prevailing replacement Card fee. Any replacement Card issued by the Bank to the Cardholder shall be subject to the same Terms and Conditions with the same benefits, facilities and obligations, and shall be considered in all cases as part of the principal or original Card and not a separate or standalone Card.
7. The Bank will include all transactions effected by use of the Card in the periodic Statement issued to the Cardholder.
8. The Bank's record of transactions processed by the use of the Card shall be conclusive and binding in all cases.
9. The Cardholder is not entitled to overdraw the Account with the Bank or to withdraw/transfer funds by use of the Card in excess of the available balance in the Account.
10. The Bank will enable the Accountholder to set his Personal Identification Number (PlN) via ATM machine or in any way it deems fit. The PIN is strictly confidential and must not be disclosed to another party under any circumstances.
The Cardholder shall not keep any written record of the PIN in any place, or in a manner which may enable another party to use the PIN and Card.
11. The Cardholder shall at all times remain liable for any transaction made by use of the Card and shall indemnify the Bank against all loss/damage howsoever caused by any unauthorised use of the Card or related PIN, and the Bank shall be entitled to assume all usage of the Card and related PIN to be authentic.
12. The Bank will debit the Account of the Cardholder according to its prevailing Tariff of Charges, or as announced by the Bank from time to time, for use of the Card, including joining, annual, replacement and individual transaction fees as applicable whether inside or outside the Kingdom of Saudi Arabia.
13. Withdrawals in currencies other than Saudi Riyals will be debited to the Cardholder's Account after conversion to Saudi Riyals at the Bank's selling rate of exchange for the related foreign currency as determined by the Bank on the day of conversion. The Cardholder agrees to comply with all exchange control regulations from time to time in force which may be affected by using the Card and to indemnify the Bank in respect of any loss, claim, or expense incurred by the Bank as a result of non-compliance with any such regulations. The Cardholder authorises the Bank to debit the Account with any taxes, duties, charges or any other Government impositions on this Account.
14. Should any ATM used by the Accountholder fail to dispense the amount requested, the Accountholder shall report this event immediately in detail to the institution operating the ATM and to the Bank in the form required by the Bank. Subject to sufficient proof, the Bank will credit the Accountholder Account with the amount previously debited in excess of the funds paid and the Accountholder will repay on demand to the Bank the amount paid by any ATM in excess of the amount requested, or dispensed by the ATM, or credited to the Cardholder’s Account.
15. Cash deposited at Cash Deposit Machine (CDM) will be instantly credited to the Customer Account, as per the input by the Customer. Bank will not be held liable for any errors/omissions made by the Customer while performing the transaction. The information contained in the Bank’s journal would serve as an evidence in any disputes and the Bank’s decision will be final and binding on the Customer.
16. The Bank shall not be liable for any refusal of any merchant establishment to honour the Card on any POS terminal or in any other form, nor will the Bank be responsible in any way for any of the goods or services supplied to the Cardholder for which payment was made by use of the Card. Complaints against the merchant should be resolved by the Cardholder with the merchant establishment and no claim by the Cardholder against the merchant establishment will relieve the Cardholder from any obligation to the Bank. Any refund due to the Cardholder from the merchant shall be obtained by the Cardholder direct from the merchant and not from the Bank.
The value of the purchase of goods, or services, effected by the use of the Card in a POS terminal or any payments made by the Card at an establishment will be debited to the Cardholder’s Account. The Cardholder’s failure to sign any receipt will not relieve the Cardholder from liabilities to the Bank in respect thereof.
17. The Bank 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 dispute or other circumstances beyond its control. The Bank will not be liable for any consequential or indirect damage arising from or related to, the use of the Card on any ATM, POS or other terminal, the temporary insufficient of funds in the ATM, or the malfunction/failure of such equipment.
18. Card transactions for purchases, withdrawal, transfers and payments are subject to the respective daily total and individual transaction limits as determined by the Bank and other parties accepting the Card from time to time.
19. The Cardholder may, at the Bank’s discretion and subject to SAMA regulation, request to increase/decrease of his/her Card daily transaction limit. In case of increase in the transaction limit, the Cardholder accepts and bears full responsibility for the associated risk that may arise due to higher exposure.
1. Definitions: Unless the context otherwise requires, the following terms shall have the following meanings:
“Accounts” means the Primary Account and the Customer’s other Accounts with the Bank which the Customer has designated and the Bank has agreed to effect transactions.
“SABB Direct” means Automated Telephone Banking Service.
“Customer” means the person who has applied for SABB Direct.
“PIN” means the Personal Identification Number issued by the Bank to the Customer in connection with SABB DIRECT and includes any replacement number.
“Primary Account” means the Customer’s Account with the Bank which the Customer has designated and the Bank has agreed to perform transactions.
“Transaction” means a utilisation of any of the Banking facilities available through the use of SABB Direct and includes any utilisation that may be unauthorised by the Customer or otherwise fraudulent or dishonest.
2. The Customer shall be liable for all transactions processed by the use or purported use of SABB Direct and/or the PIN for any purpose whatsoever, with or without Customer's knowledge or consent. The Customer waives all rights and remedies against the Bank in respect of any loss arising from unauthorised use of SABB Direct and/or PIN.
3. The Customer shall:
a) Maintain the secrecy of the PIN and notify the Bank immediately if the PIN becomes known to any unauthorised persons.
b) Cooperate fully with the Bank in the event of any investigations or litigation relating to SABB Direct or its use.
c) Be liable for the amounts debited to his Account due to use of SABB Direct Service.
d) Authorise the Bank to debit his Account with the annual service fee for the use of SABB Direct as fixed by the Bank from time to time.
e) The Bank shall be entitled to debit the Customer's Primary Account for any charges levied from time to time for services requested via SABB Direct.
f) Accept Advices/Statements for all transactions and to treat same as binding and final unless complained in writing or through dedicated telephone numbers of “SABB Direct Service” within thirty days of the issue thereof.
4. The Customer shall forthwith notify the Branch of the Bank at which the Primary Account is maintained via Telephone to be followed by confirmation in writing upon the occurrence of any of the events set out below:
a) The use of SABB Direct by any person other than the Customer.
b) The loss or theft of the PIN or when the PIN becomes known to any person other than the Customer.
c) The commencement of Bankruptcy or other execution proceedings against the Customer.
d) The death or legal disability of any one or more holders of a joint Account.
5. Upon receipt by the Bank of such telephone notification the Bank shall be entitled at its sole discretion to:
a) Suspend the SABB Direct service.
b) At the Customer’s request to set a new PIN, the Bank will enable him/her to set a new PIN via SABB Direct Toll-free number.
c) Terminate SABB DIRECT service
d) For a joint Account, freeze the Account and suspend SABB Direct service until the survivor/ survivors establish their right to the Account either amicably or by a court decision. The Bank at its sole discretion would decide whether to continue the Account in light of the legal documents submitted by survivor/survivors or not.
The Customer shall be liable for all transactions effected until the PIN has actually been cancelled or a new PIN issued, whichever is the later. The Bank shall have no obligation to check that the event described in the notification is in fact true.
6. The Bank shall not be liable for any loss, damage or expense howsoever incurred by the Customer arising directly or indirectly out of or in connection with:
a) The exercise by the Bank of its rights mentioned herein.
b) The closure, repair, malfunction or failure of or defect in SABB Direct or other machine data processing system or telephone or transmission link.
c) Any event outside the Bank’s control.
7. The Customer shall indemnify the Bank against all loss, damage and expense (including all legal costs) howsoever caused which the Bank may sustain or incur arising directly or indirectly out of or in connection with:
a) Any use or purported use whatsoever of SABB Direct by the Customer or any other person.
b) Any breach or non-compliance with the Terms and Conditions herein by the Customer.
c) The negligence of the Customer with respect to the use or purported use of SABB Direct.
d) The enforcement by the Bank of its rights hereunder by any means.
8. The Bank shall be entitled to terminate SABB Direct and to change the services available through SABB Direct at any time without prior notice to the customer at its sole and absolute discretion without assigning any reason therefor without prejudice to its own rights against the Customer hereto including all rights to action for any antecedent breach of this Terms and Conditions by the Customer.
9. The use of SABB Direct is subject to the prevailing Terms and Conditions governing the Accounts which shall apply in the event of any inconsistency with the Terms and Conditions herein.
10. The Customer hereby agrees to the Bank recording all conversations made pertaining to SABB Direct and the Bank shall not be held liable for any consequences arising out of the recording of the messages.
11. The Bank reserves the right to determine the priority of transaction(s) against any other existing arrangement(s) with the Bank.
12. All oral instructions received on dedicated telephone numbers will remain effective notwithstanding the death or Bankruptcy/liquidation until notice of such death or Bankruptcy/liquidation or the revocation of the instructions is received by the Bank in writing from any of the heirs of the deceased or from a Government Authority.
13. No act, delay or omission by the Bank shall operate as a waiver or foregoing of all or any of its rights and powers hereunder, save only by express undertaking in writing so to do.
14. All communications by the Bank to the Customer shall be to the last address notified by the Customer to the Bank and shall be deemed received five days after being deposited in the post. The Customer shall be under a duty to advise the Bank immediately of any change of address.
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