Terms and Conditions for Electronic Banking Services

Terms and Conditions for Electronic Banking Services:

These terms and conditions apply only when downloading and logging into the mobile banking application and/or the online banking platform. These terms constitute the basis of the contract between you and us regarding the use and access to your account through Personal Internet Banking and Mobile Banking services (referred to as "the Service").

These terms represent legally binding obligations for you. By registering online to use the Service and/or downloading the mobile banking application, you confirm your agreement to comply with the terms and conditions herein (Terms and Conditions of Internet Banking), which may be amended from time to time at the discretion of the bank and in accordance with the instructions of the Central Bank of Iraq and applicable laws.

Please read these terms and conditions before using this service. If there is any part that is not understood or if you have any questions, please speak to one of our employees in our branches or contact us at the bank's branch or call center through the Banking Awareness Department.

1.Definitions:

Accounts: Savings account, current account, on-demand deposit account, term deposit account, and any other type of account.

Available Balance: It refers to the balance minus any outstanding checks or payable orders calculated on other banks that have not been collected yet and any amounts that are reserved.

Bank: The bank operating in Iraq and its branches.

Customer: The account holder, whether the account is opened individually or by someone representing them.

Accounts: Savings account, current account, on-demand deposit account, term deposit account, and any other type of account.

Available Balance: It refers to the balance minus any outstanding checks or payable orders calculated on other banks that have not been collected yet and any amounts that are reserved.

Bank: The bank operating in Iraq and its branches.

Customer: The account holder, whether the account is opened individually or by someone representing them.

Iraq Over Bank Electronic Service: The services provided by Iraq Over Bank to the customer to enable them to access their account and execute transactions through the internet.

PIN (Personal Identification Number): The personal identification number assigned by the bank to the customer to enable access to their account/services through various delivery channels such as ATMs, SMS, call center, and the internet.

Service Fees and Returns: The information provided by the bank to customers from time to time to inform them about the fees, interest, and various conditions applicable to the services provided by the bank.

Terms and Conditions: The terms and conditions specified in this contract to be applied to the accounts.

User: The customer authorized to use any of the bank's delivery channels.

2.1 Services:

This agreement governs access to your bank account through online/mobile banking. The terms and conditions mentioned herein, in addition to any others, do not cancel or invalidate any other agreements, signature cards that govern your deposits, loans, and other business relationships with the bank. All terms, conditions, agreements, statements, and attachments specified or related to other agreements and signature cards remain in full force and effect. Therefore, the person authorized by you to access and perform transactions from your account(s) through Iraq Over Bank Electronic Banking/Phone Banking may not be the same person authorized to sign on the account under other agreements or signature cards. You may grant them greater powers to carry out activities through Iraq Over Bank Electronic Banking/Phone Banking than those granted under other agreements or signature cards with us. In cases where authorization is given to other individuals that do not conflict with authorizations for the same account(s) under other agreements (agreements) or signature cards, the agreements (agreements) of the signature card govern the operations of Iraq Over Bank Electronic Banking/Phone Banking.

Scope of the Agreement:

2.1 Instructions and Fees:

Any instructions related to the use of Iraq Over Bank Electronic Banking (all instructions) and any fees we may impose are considered part of this agreement and are attached to it as a reference.

The bank records fees and costs on the customer's account for any instructions during the service.

These fees and costs are based on the bank's fee schedule for various services, which is subject to change by the bank.

2.2 Termination:

This agreement remains in effect until terminated by you or by us. You can terminate Iraq Over Bank Electronic Banking/Phone Banking and terminate this agreement at any time by providing written notice, and this termination becomes effective upon our receipt of notice from you as mentioned above. This applies only to the electronic services provided to you, and it does not terminate any other agreements you may have with us.

We can terminate this agreement and the services to you for any reason and at any time. We will attempt to notify you in advance of any termination, but we are not obligated to do so.

Upon termination, we reserve the right not to execute any payments, transfers, fees, or expenses, including payments or transfers that you have previously approved.

If you terminate your subscription to online electronic services, you authorize the bank to continue processing transfers that you have previously approved until the bank deems it favorable to execute the termination notice you have submitted.

You agree that upon terminating your subscription to IBS services, whether by your decision or ours, you will cancel all automatic or recurring transfers or any bill payments that you have previously approved. In case of failure to do so, you will be responsible for these payments.

3.1 General Description of Services:

The bank provides online banking services at its discretion, including but not limited to:

Inquiry about account balances.

Requesting account statements.

Issuing checkbooks.

Transaction details for related accounts.

Bill payments.

Transferring money between all your accounts, including transfers to accounts at other branches of Iraq Over Bank.

This list is not exhaustive, and the bank may offer additional or different services in the future, all subject to this agreement and its amendments.

The bank provides online banking services at its discretion, including but not limited to:

Inquiry about account balances.

Requesting account statements.

Issuing checkbooks.

Transaction details for related accounts.

Bill payments.

Transferring money between all your accounts, including transfers to accounts at other branches of Iraq Over Bank.

This list is not exhaustive, and the bank may offer additional or different services in the future, all subject to this agreement and its amendments.

The transfers may be limited to a specific amount or a specified number of transactions per day, as outlined in the account agreements governing such services or pursuant to the bank's policies.

The bank reserves the right to increase the limit for the amount and frequency of operations from your accounts for security or credit reasons, as determined solely by the bank at any time.

3.3 Overdrafts, Payment Orders:

It is your responsibility to ensure that you have sufficient funds or balance in your account when you request us to make a payment or transfer.

You are fully obligated to us to provide sufficient funds for any payments or transfers you initiate or authorize.

The transfers may be limited to a specific amount or a specified number of transactions per day, as outlined in the account agreements governing such services or pursuant to the bank's policies.

The bank reserves the right to increase the limit for the amount and frequency of operations from your accounts for security or credit reasons, as determined solely by the bank at any time.

3.3 Overdrafts, Payment Orders:

It is your responsibility to ensure that you have sufficient funds or balance in your account when you request us to make a payment or transfer.

You are fully obligated to us to provide sufficient funds for any payments or transfers you initiate or authorize.

3.4 Mobile Device Requirements:

To use Iraq Over Bank Electronic Banking through mobile devices, you must have an internet service provider and a mobile device compatible with the computer program. Your mobile device and associated equipment are referred to in this agreement as the "Mobile Device." You are responsible for the installation, maintenance, operation, and necessary care for your mobile device and its operating system.

3.5 Reporting Unauthorized Transactions or Theft/Loss of Login Credentials:

If you believe that an unauthorized transfer has been made or may be made in your account, notify the bank immediately.

It is your responsibility to report any unauthorized use of your login credentials promptly.

Responsibilities of the Parties:

4.1 Security:

Personal identification numbers (PINs) must be kept confidential at all times.

Users must log out of the online banking service when leaving their devices.

You must notify the bank immediately if you know that your password has become known to a third party. The bank will not be responsible for losses resulting from the unauthorized use of your account or access to your account using the correct username and password by unauthorized persons.

After receiving the mentioned notice, the customer will not be responsible for any losses except those resulting from the customer's negligence or violation of these terms and conditions.

The secret code will be deactivated after thirty days from its issuance, and the customer must visit the branch to request the issuance of a new secret code.

The SMB/IBS electronic banking services will be automatically suspended if not used for 12 consecutive months. The customer must contact customer service or visit the branch to reactivate the service. The bank will not assume any responsibility for the customer as a result of this suspension.

4.2 Customer Responsibilities:

You are responsible for maintaining the confidentiality of the username, password, and secret numbers sent to your device via SMS or printed, and the mobile devices registered with us to receive secret numbers via SMS, as well as account data. We are authorized to act based on transaction instructions received using your username and password. You agree that using your username, password, and secret numbers sent via SMS, or device registration, fingerprint, or facial recognition data will have the same effect as your signature, serving as proof of your identity and verifying the accuracy of the instructions sent to us. If you authorize others to use your username, password, secret numbers sent via SMS, fingerprint, or facial recognition data in any form, your authorization will be considered indefinite until you notify us in writing that you have terminated the authorization and changed your password. You will be responsible for any transactions performed by those individuals until we are notified that transactions by that person or instructions related to your account(s) are no longer valid.

You are responsible for all consequences arising from any errors that occur when conducting banking operations, financial transfers, payments, or transactions using any electronic channels. You acknowledge that you are responsible for the value of amounts requested to be transferred or paid, even if done in error. You acknowledge the accuracy of all these entries and that they were made by you. The bank is not responsible for correcting or canceling these transactions after completion.

You cannot cancel any banking transaction entered and executed through any electronic banking channels.

In the event of an error on your part as detailed in the above paragraph, and since both parties are customers of our bank, the bank may act as an intermediary between you to resolve the dispute and return the funds transferred due to an error, facilitating an amicable settlement between you.

In the case of joint accounts, the secret code will be handed over in the presence of both the legitimate account holder and the partner.

In the case of a joint account managed by an individual, any partner in the account is considered responsible for any movement made through any electronic channels (SMB/IBS).

The secret code you use in any of the electronic channels identifies you, so any operations carried out through any of the electronic channels using the secret code are considered initiated by you, and the bank considers anyone using it as "you."

4.3 Liability Limits:

The bank will not be liable to the customer for any negligence, contract violation, distortion, or other acts resulting in any loss, regardless of whether the bank informed you of the possibility of such loss or damage arising, related to your use of Iraq Over Bank Mobile/Internet Banking services.

The bank will not be responsible for acting on customer instructions received through Internet banking if the bank doubts or considers that:

The customer's instructions are incorrect or unreliable.

There is a possibility of the bank violating any law or regulations by executing those instructions.

The bank cannot comply with the terms and conditions for any reason beyond the bank's control, including system failures, equipment failures, disputes, or force majeure.

4.4 General Liability Limitation:

Under no circumstances will the bank be liable for any special, indirect, punitive, incidental, or consequential damages of any kind, including loss of profits, whether or not the bank informed you of the possibility of such loss or damage arising, related to your use of Iraq Over Bank Mobile/Internet Banking services.

Miscellaneous:

5.1 Property Rights:

The customer has no ownership or right to use any of the software available for use in the Internet Banking service.

5.2 Applicable Law:

This agreement will be governed, interpreted, and enforced in accordance with the laws of the Republic of Iraq. In case of any disputes arising from its clauses and conditions, the Karrada Court has jurisdiction to consider it.

Your current account relationships and account agreements with the bank will continue to be subject to and interpreted under the laws governing these account agreements.

5.3 Waiver of Rights:

The bank will not be considered as waiving any of its rights or recovering its rights unless such waiver is made in writing and published by the bank.

The bank's delay or omission in using its rights and recovering its rights will not be interpreted as a waiver of any rights or recovery of rights in the future.

Terms and Conditions for Electronic Banking Services

Terms and Conditions for Electronic Banking Services:

Please read these terms and conditions before using this service. If there is any part that is not understood or if you have any questions, please speak to one of our employees in our branches or contact us at the bank's branch or call center through the Banking Awareness Department.

1.Definitions:

Accounts: Savings account, current account, on-demand deposit account, term deposit account, and any other type of account.

Available Balance: It refers to the balance minus any outstanding checks or payable orders calculated on other banks that have not been collected yet and any amounts that are reserved.

Bank: The bank operating in Iraq and its branches.

Customer: The account holder, whether the account is opened individually or by someone representing them.

Accounts: Savings account, current account, on-demand deposit account, term deposit account, and any other type of account.

Available Balance: It refers to the balance minus any outstanding checks or payable orders calculated on other banks that have not been collected yet and any amounts that are reserved.

Bank: The bank operating in Iraq and its branches.

Customer: The account holder, whether the account is opened individually or by someone representing them.

Iraq Over Bank Electronic Service: The services provided by Iraq Over Bank to the customer to enable them to access their account and execute transactions through the internet.

PIN (Personal Identification Number): The personal identification number assigned by the bank to the customer to enable access to their account/services through various delivery channels such as ATMs, SMS, call center, and the internet.

Service Fees and Returns: The information provided by the bank to customers from time to time to inform them about the fees, interest, and various conditions applicable to the services provided by the bank.

Terms and Conditions: The terms and conditions specified in this contract to be applied to the accounts.

User: The customer authorized to use any of the bank's delivery channels.

2.1 Services:

Scope of the Agreement:

2.1 Instructions and Fees:

Any instructions related to the use of Iraq Over Bank Electronic Banking (all instructions) and any fees we may impose are considered part of this agreement and are attached to it as a reference.

The bank records fees and costs on the customer's account for any instructions during the service.

These fees and costs are based on the bank's fee schedule for various services, which is subject to change by the bank.

2.2 Termination:

We can terminate this agreement and the services to you for any reason and at any time. We will attempt to notify you in advance of any termination, but we are not obligated to do so.

Upon termination, we reserve the right not to execute any payments, transfers, fees, or expenses, including payments or transfers that you have previously approved.

If you terminate your subscription to online electronic services, you authorize the bank to continue processing transfers that you have previously approved until the bank deems it favorable to execute the termination notice you have submitted.

You agree that upon terminating your subscription to IBS services, whether by your decision or ours, you will cancel all automatic or recurring transfers or any bill payments that you have previously approved. In case of failure to do so, you will be responsible for these payments.

3.1 General Description of Services:

The bank provides online banking services at its discretion, including but not limited to:

Inquiry about account balances.

Requesting account statements.

Issuing checkbooks.

Transaction details for related accounts.

Bill payments.

Transferring money between all your accounts, including transfers to accounts at other branches of Iraq Over Bank.

This list is not exhaustive, and the bank may offer additional or different services in the future, all subject to this agreement and its amendments.

The bank provides online banking services at its discretion, including but not limited to:

Inquiry about account balances.

Requesting account statements.

Issuing checkbooks.

Transaction details for related accounts.

Bill payments.

Transferring money between all your accounts, including transfers to accounts at other branches of Iraq Over Bank.

This list is not exhaustive, and the bank may offer additional or different services in the future, all subject to this agreement and its amendments.

The transfers may be limited to a specific amount or a specified number of transactions per day, as outlined in the account agreements governing such services or pursuant to the bank's policies.

The bank reserves the right to increase the limit for the amount and frequency of operations from your accounts for security or credit reasons, as determined solely by the bank at any time.

3.3 Overdrafts, Payment Orders:

It is your responsibility to ensure that you have sufficient funds or balance in your account when you request us to make a payment or transfer.

You are fully obligated to us to provide sufficient funds for any payments or transfers you initiate or authorize.

The transfers may be limited to a specific amount or a specified number of transactions per day, as outlined in the account agreements governing such services or pursuant to the bank's policies.

The bank reserves the right to increase the limit for the amount and frequency of operations from your accounts for security or credit reasons, as determined solely by the bank at any time.

3.3 Overdrafts, Payment Orders:

It is your responsibility to ensure that you have sufficient funds or balance in your account when you request us to make a payment or transfer.

You are fully obligated to us to provide sufficient funds for any payments or transfers you initiate or authorize.

3.4 Mobile Device Requirements:

3.5 Reporting Unauthorized Transactions or Theft/Loss of Login Credentials:

If you believe that an unauthorized transfer has been made or may be made in your account, notify the bank immediately.

It is your responsibility to report any unauthorized use of your login credentials promptly.

Responsibilities of the Parties:

4.1 Security:

Personal identification numbers (PINs) must be kept confidential at all times.

Users must log out of the online banking service when leaving their devices.

You must notify the bank immediately if you know that your password has become known to a third party. The bank will not be responsible for losses resulting from the unauthorized use of your account or access to your account using the correct username and password by unauthorized persons.

After receiving the mentioned notice, the customer will not be responsible for any losses except those resulting from the customer's negligence or violation of these terms and conditions.

The secret code will be deactivated after thirty days from its issuance, and the customer must visit the branch to request the issuance of a new secret code.

The SMB/IBS electronic banking services will be automatically suspended if not used for 12 consecutive months. The customer must contact customer service or visit the branch to reactivate the service. The bank will not assume any responsibility for the customer as a result of this suspension.

4.2 Customer Responsibilities:

You cannot cancel any banking transaction entered and executed through any electronic banking channels.

In the event of an error on your part as detailed in the above paragraph, and since both parties are customers of our bank, the bank may act as an intermediary between you to resolve the dispute and return the funds transferred due to an error, facilitating an amicable settlement between you.

In the case of joint accounts, the secret code will be handed over in the presence of both the legitimate account holder and the partner.

In the case of a joint account managed by an individual, any partner in the account is considered responsible for any movement made through any electronic channels (SMB/IBS).

The secret code you use in any of the electronic channels identifies you, so any operations carried out through any of the electronic channels using the secret code are considered initiated by you, and the bank considers anyone using it as "you."

4.3 Liability Limits:

The bank will not be liable to the customer for any negligence, contract violation, distortion, or other acts resulting in any loss, regardless of whether the bank informed you of the possibility of such loss or damage arising, related to your use of Iraq Over Bank Mobile/Internet Banking services.

The bank will not be responsible for acting on customer instructions received through Internet banking if the bank doubts or considers that:

The customer's instructions are incorrect or unreliable.

There is a possibility of the bank violating any law or regulations by executing those instructions.

The bank cannot comply with the terms and conditions for any reason beyond the bank's control, including system failures, equipment failures, disputes, or force majeure.

4.4 General Liability Limitation: