Transfer to Contact Special Terms

Part One: Transfer to Contact Special Terms

 

Transfer to Contact


STC Bank grants to the client, in accordance with these special terms for transfer to contact (the “Transfer to Contact Terms”), the service for transferring money by the client (the “Transferor”) whenever the Transferor chooses on the mobile app to transfer money (the “Transfer Order”) to another client (the “Beneficiary”), using the Beneficiary’s phone number via the service labeled as such on the mobile app (“Transfer to Contact”).

 

The Transfer to Contact terms form an integral part of the Agreement for Opening a Current Bank Account for Individuals (“Agreement”). The Terms of the Agreement and the Transfer to Contact Terms apply to the transferor. In the event of conflicts, the terms of the Agreement shall control.

 

THE CLIENT SHOULD CAREFULLY READ THESE TRANSFER TO CONTACT TERMS

  1. Upon using the Transfer to Contact service, the Transferor may choose a Beneficiary whose contact details are saved (subject to the Transferor allowing relevant permissions on the mobile app) or not saved on the Transferor’s Mobile Device to receive a certain value of funds. The Transferor must ensure the correctness and completeness of the Beneficiary’s mobile number and shall be solely responsible for the accuracy of such information. By submitting a Transfer Order, the Transferor authorizes STC Bank to transfer the specified value of funds to the Beneficiary.
  2. The Transferor agrees and acknowledges that once a Transfer Order is submitted, it may not be amended, modified, or refunded. The Transferor acknowledges and agrees that the Transferor is not entitled to claim a refund for any funds they may have paid to a Beneficiary pursuant to a validly executed Transfer Order. STC Bank accepts no liability or responsibility whatsoever for transactions made by a Transferor or a Beneficiary for such validly executed Transfer Order.
  3. The Transferor is required to ensure that the Transfer to Contact service is used for legal and legitimate purposes and shall indemnify and hold STC Bank harmless against any and all claims resulting from the origination and operation of a Transfer Order pursuant to The Transfer to Contact Terms.
  4. If the Transferor has any inquiries, objections, or complaints regarding the Transfer to Contact service, the Transferor can reach out to STC Bank’s customer experience team at 8001180008 (toll-free number from within the Kingdom of Saudi Arabia) or +966 920011444 (from inside or outside the Kingdom of Saudi Arabia) or communicate through the digital channels provided by STC Bank from time to time.
     

Part Two: Special Terms for Send Gift Service

 

1. Introduction

 

 

  1. These special terms for send gift service (the “Send Gift Terms”) shall apply whenever a client chooses the Send Gift service on the mobile app to send money as a gift to another client.

For the purposes of the Send Gift Terms, the following definitions shall apply:

  • “Sender”: means the client who sends money as a gift to the Receiver (as defined below) on the mobile app.
  • “Receiver”: means the client who receives the money sent by the Sender.
  • “Send Gift Order”: means the request for transferring money as a gift from the Sender to the Receiver.
  • “Send Gift”: means the service of sending money as a gift by the Sender to the Receiver by using the Receiver’s phone number through the service specified for that via the mobile app.
  • “Validity Period”: means the validity period of the gift sent by the Sender.

2. Use of Send Gift Service

 

 

  1. Upon using the Send Gift service, the Sender may choose a Receiver whose contact details are saved (subject to the Sender allowing relevant permissions on the mobile app) or not saved on the Sender’s Mobile Device to receive a certain value of funds. The Sender must ensure the correctness and completeness of the Receiver’s mobile number and shall be solely responsible for the accuracy of such information.
  2. To submit a Send Gift Order, the Sender shall enter the details of the gift, enter a predefined or manual gift amount, and set the Validity Period. By submitting a Send Gift Order, the Sender authorizes STC Bank to transfer the specified value of funds to the Receiver.
  3. The Sender acknowledges and agrees that the Sender is not entitled to claim a refund for any funds they may have paid to a Receiver pursuant to a validly executed Send Gift Order. STC Bank accepts no liability or responsibility whatsoever for transactions made by a Sender or a Receiver for such validly executed Send Gift Order. The Sender is required to set a Validity Period to accept the gift. In furtherance, the Receiver agrees and acknowledges that the Receiver shall be bound by the Send Gift Terms upon accepting the gift, and the gift acceptance is subject to its Validity Period. If the Receiver fails to accept the gift within the Validity Period, the Send Gift Order will expire, and STC Bank shall return the Send Gift Order amount to the Sender’s Account.
  4. Each Sender and Receiver must ensure that the Send Gift service is used for legal and legitimate purposes and shall indemnify and hold STC Bank harmless against any and all claims resulting from the origination and operation of the Send Gift Order pursuant to these Terms.
  5. The Send Gift Terms apply in addition to the Agreement and the Transfer to Contact Terms.

Part Three: Special Terms for Transfer Using QR

 

1. Introduction

 

  1. These special terms for transfer using the quick response code (QR) (“QR Transfer Terms”) shall apply whenever a client chooses the Transfer Using QR service on the mobile app.

For the purposes of the QR Transfer Terms, the following definitions shall apply:

  • “Transferor”: means the client who transfers money to the Beneficiary (as defined below) using the quick response code of the Beneficiary via the mobile app.
  • “Beneficiary”: means the client who receives the money from the Transferor.
  • “Transfer Order”: means the process of transferring money by the Transferor to the Beneficiary using the Beneficiary’s (QR) code through the Transfer Using QR through the service labeled as such via the mobile app.
  • “Transfer Using QR”: means the service of sending money by the transferor using the Beneficiary's quick response (QR) code through the service labeled as such via the mobile app.
     

 

2. Use of Transfer Using QR Service

 

  1. Upon selecting the Transfer Using QR service, the Transferor must scan the QR of the Beneficiary to receive a certain value of funds. The Transferor must ensure the correctness and completeness of the Beneficiary’s QR and shall be solely responsible for the accuracy of such information. By submitting a Transfer Order, the Transferor authorizes STC Bank to transfer the specified value of funds to the Beneficiary.
  2. Transferor agrees and acknowledges that once a Transfer Order is submitted, it may not be amended, modified, or refunded. The Transferor acknowledges and agrees that the Transferor is not entitled to claim a refund for any funds they may have paid to a Beneficiary pursuant to a validly executed Transfer Order. STC Bank accepts no liability or responsibility whatsoever for transactions made by a Transferor or a Beneficiary for such validly executed Transfer Order.
  3. Each Transferee and Beneficiary must ensure that the Transfer Using QR service is used for legal and legitimate purposes and shall indemnify and hold STC Bank harmless against any and all claims resulting from the origination and operation of the Transfer Order pursuant to the QR Transfer Terms.
  4. The QR Transfer Terms apply in addition to the Agreement and the Transfer to Contact Terms.

Part Four: Special Terms for Qattah (Split Money)

 

 

1. Introduction

 

  1. These special terms for Qattah (the “Qattah Terms”) shall apply whenever a client chooses the Qattah service on the mobile app.

For the purposes of the Qattah Terms, the following definitions shall apply:

  • “Qattah Pot”: means the money pool that the Qattah Originator (as defined below) creates to split expenses with another Qattah Members within STC Bank (as defined below).
  • "Qattah Originator": means the client who created the Qattah Pot via the mobile app.
  • “Qattah Member”: means STC Bank’s other client(s) that is added to the Qattah Pot by the Qattah Originator.
  • “Qattah Request”: means an invitation of Qattah Members to a Qattah Pot and entering the Qattah Pot description, category, and amount to be split between Qattah Members.

2. Use of Qattah Service

 

  1. Upon selecting the Qattah feature, the Qattah Originator authorizes STC Bank to create a Qattah Pot to collect funds generated from splitting expenses between the Qattah Members.
  2. A Qattah Pot may only be activated upon having at least one (1) Qattah Member in addition to the Qattah Originator. The Qattah Originator will have the option to initiate the Qattah Request and the Qattah Member will have the option to pay the Qattah or to decline the Qattah Request.
  3. Each Qattah Member agrees and acknowledges that they are not entitled to claim a refund for any funds that may have paid into the Qattah Pot pursuant to a validly executed Qattah Request.
  4. Each Qattah Pot considers the Qattah Originator’s share of the respective Qattah Request to be automatically settled. The Qattah Originator may settle the amounts owed by the Qattah Members, and such settlement shall constitute a settlement by the Qattah Member as per the Qattah Request distribution.
  5. The mobile app will allow the Qattah Originator as well as the Qattah Members to see the full status of a Qattah Pot, including but not limited to, amounts requested and their status (e.g. paid, pending, declined, etc).
  6. The balance of the Qattah Pot constitutes part of the Qattah Originator’s Account, and all amounts in the Qattah Pot shall be automatically transferred to the Qattah Originator’s Account.
  7. Each Qattah Originator and Qattah Members are required to ensure that the Qattah feature is used for legal and legitimate purposes and shall indemnify and STC Bank and hold it harmless against any and all claims resulting from the origination and operation of the Qattah Request pursuant to these Terms. STC Bank accepts no liability or responsibility whatsoever for transactions made by a Qattah Originator or a Qattah Member unless such transaction or action is not correct and is the absolute error of STC Bank without such error being caused by the Qattah Originator or a Qattah Member.
  8. The Qattah Terms apply in addition to the Agreement and the Transfer to Contact Terms.
     

Part Five: Special Terms for Request Money Service

 

1. Introduction

 

  1. These special terms for request money service (the “Request Money Terms”) shall apply whenever a client chooses the Money Request Service the mobile app to request money, whether under the Money Requestor or Money Sender (as defined below).

For the purposes of the Request Money Terms, the following definitions shall apply:

  • “Money Requestor”: means the client who requests money from the Money Sender (as defined below) Via the mobile app.
  • “Money Sender”: means the client who sends money to the Money Requester via the mobile app.
  • “Money Request Order”: means the request for money issued by the Money Requestor to the Money Sender via the mobile app.
  • “Request Money”: means the service specified in the mobile app that allows the Money Requester to request money from the Money Sender using the Money Sender’s phone number.

2. Use of Money Request

 

 

  1. Upon selecting the Request Money feature, the Money Requestor may choose a Money Sender whose contact details are saved (subject to the Money Requestor allowing relevant permissions on the mobile app) or not saved on the Money Requestor’s Device to request a certain value of funds. The Money Requestor must ensure the correctness and completeness of the Money Sender’s mobile number and shall be solely responsible for the accuracy of such information. By submitting a Money Request Order, the Money Requestor authorizes STC Bank to send a Money Order Request to request the specified value of funds to the Money Sender.
  2. The Money Sender agrees and acknowledges that once a certain Money Request is accepted, it may not be amended or modified.
  3. The Money Sender shall have the option to accept or decline the Money Request received from the Money Requestor. If the Money Sender accepts to pay the Money Request Order, the Money Sender acknowledges and agrees that the Money Sender is not entitled to claim a refund for any funds they may have paid to a Money Requestor pursuant to a validly executed Money Request Order. STC Bank accepts no liability or responsibility whatsoever for transactions made by a Money Requestor or a Money Sender for such validly executed Money Request Order.
  4. The mobile app will allow the Money Requestor as well as the Money Sender to see the full status of a Money Request Order, including and not limited to, amounts requested and their status (e.g. paid, pending, declined).
  5. Each Money Requestor and Money Sender must ensure that the Request Money service is used for legal and legitimate purposes and shall indemnify STC Bank and hold it harmless against any and all claims resulting from the origination and operation of the Request Money Order pursuant to these Terms.
  6. The Request Money Terms apply in addition to the Agreement and the Transfer to Contact Terms.