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For the purposes of these Terms and Conditions of Use the following words and expressions shall have the meanings as set out below: "AΤΜ" means an Automated Teller Machine from and into which, inter alia, withdrawals and deposits are made.
"Consumer" means a natural person who, in respect of the Wallet Terms, acts for purposes which are irrelevant to his/her trading or professional activity;
"Durable Medium" means any instrument which enables the Customer to store information addressed personally to that Customer in a way accessible for future reference for a period of time adequate to the purposes of the information and which allows the unchanged reproduction of the information stored, such as printouts by account printers, CD-ROMs,
DVDs, the hard drives of personal computers on which electronic mail can be stored, and internet sites
"Electronic Money" means electronically, including magnetically, stored monetary value as represented by a claim on the issuer which is issued on receipt of funds for the purpose of making Payment Transactions, and which is accepted by a natural or legal person other than the electronic money issuer.
"Framework Contract" means the Payment Services’ contract, which governs the execution of individual and successive payment transactions and contains the respective obligations, rights and conditions for setting up, operating and using a Payment Account.
"Merchant" means the legal entity that trades in commodities.
"Payment Instrument" means any personalized device and/or set of procedures agreed between the Customer and the Bank, and which are used by the Customer in order to initiate a Payment Order and include, inter alia, Cards, the WinBank Service, each one of the User ID, security password and the code issued through the extraPin Generator, and which are issued by the Bank in respect of the WinBank Service, the instructions by facsimile message and/or other services.
"Payment Order" means an instruction by a payer or payee to the Bank, requesting the execution of a Payment Transaction.
Deposit into and withdrawal from a Payment Account, as well as all the operations required for operating a Payment Account;
Remittance/transfer to or from a Payment Account including remittances/transfers made in view of executing standing orders;
Execution of direct debits, including one-off direct debits;
Payment by Card or a similar Payment Instrument;
Issuing of Payment Instruments and/or acquiring of Payment Transactions;
"Personal Data" means any information relating to an identified or identifiable natural person.
"PIN" means personal identification number which is associated with your Wallet Account and which allows you to access your Wallet Account and/or enter into Wallet Transactions.
"Primary Wallet Holder" means the User in whose name the "Suyool" Wallet Account has been registered, who has control over the Wallet Account and who has the authority to create and designate Supplementary Wallet Holders on his/her Wallet Account, subject to the transaction limits set by the Primary Wallet Holder.
"Privacy Notice" means the document titled "Privacy Notice" in respect of the processing of your personal data for the purposes of entering into and carrying out Payment Transactions via the Wallet Account and it is available, in its latest edition, in the Wallet Mobile App, www.suyool.com
"Processing" or "Personal Data Processing" is defined is defined as any operation or set of operations which is performed by any person upon Personal Data, whether or not by automatic means, and includes the collection, recording, organization and transfer of such data.
"Registered Device" means your smartphone or other electronic device upon which you have downloaded the "Suyool" Wallet Mobile App.
"Supplementary Wallet Holder" means a natural person, who is authorised by a Primary Wallet Holder to have access to and/or use the "Suyool" Wallet subject to the limits set by the authorizing Primary Wallet Holder.
"User Level" means each level under which each User falls and/or is categorised corresponding to and/or depending upon the top-up and transaction limits imposed on the User and/or on the transaction that the User may enter into and/or execute via the Wallet Account, which, currently, subsists of level 1; level 2; level 3 and level 4 (for Merchants). Each User Level requires a different level of Know-Your-Customer (KYC) and due diligence process and/or registration and/or enrolment and/or upgrade information and documentation to be provided to the Bank in compliance with the Bank’s obligations with the applicable laws and regulations of the Republic of Lebanon. Details of the aforesaid User Levels are set out on the Wallet Mobile App portal, including information on the transaction limits of each User Level [inter alia, of the maximum credit turnover per month and/or per year, as applicable] and the corresponding Know-Your-Customer (KYC) and due diligence process and/or registration and/or enrolment process.
"User" means each natural person, who, having satisfied all the eligibility criteria and the minimum KYC (‘Know-Your-Client’) prerequisites set by the Bank, as those may be varied from time to time at the absolute discretion of the Bank, has obtained access level, is in possession of a User ID and Passcode, has opened and maintains a Wallet Account in his/her name or is authorised by any other Account Holder with access level.
"Wallet Mobile App" means the mobile application accessible through your Registered Device where you can obtain access to your Wallet.
"Wallet Terms" means the present terms and conditions governing the use of the Wallet Mobile App named
"Wallet Transaction" means the Payment Transaction conducted by the User of placing, transferring or withdrawing funds in Euro through the Wallet Account.
The access, registration and enrolment to Suyool Mobile Wallet Application (referred to as "the Wallet");
The payment transactions entered into and executed via the Wallet;
The use and operation of the Wallet; and
The relationship between the Wallet Users and the Bank.
In case of conflict between the present terms and the terms of the Framework Contract, the terms of the Framework Contract shall prevail.
Since the Wallet constitutes and/or can be considered to be a Payment Instrument used to initiate Payment Orders requesting the execution of Payment Transactions, these Terms and Conditions must be read in conjunction with the provisions of the Framework Contract, which applies additionally to these Terms and Conditions and governs particular issues relating to Payment Transactions, such as, inter alia, the time of receipt of a Payment Order, refusal and revocation of Payment Orders, time limits for the execution of Payment Orders, the respective rights, obligations and liability, the evidence on authentication and execution of Payment Transactions, access to third party provides (TPPs), charges, the procedures for the settlement of disputes, amendments and termination.
Prior to entering into Wallet Transactions, your are required to:
read carefully the Wallet Terms and the Bank’s Privacy Notice [to the extent applicable], which constitutes an integral part of the Wallet Terms, during your registration and/or enrolment in the Wallet with the Bank and tick the box confirming your acceptance and your agreement with these; and
provide us with such documentation, photographs and information as requested by us in compliance with the Bank’s legislative and regulatory obligations.
Additional and/or supplementary and/or specific terms and conditions and/or agreements may be applicable to and govern the relationship and the use of specific services and/or products and/or facilities and/or programs that may become available to you by the Bank and/or accessed and/or used by you from time to time via the Wallet in addition to the Wallet Terms and Privacy Notice. The latter are separate and/or independent from the aforesaid specific terms and conditions and/or agreements.
You acknowledge, confirm and declare that during the registration process and/or of creating a Wallet Account:
The information provided by you is true, accurate, correct and up-to-date.
In the event of change of the information provided by you (such as of your mobile phone number), you shall notify us immediately.
You shall bear any and/or all losses that occur due to the submission of false, inaccurate or incorrect information – Check with framework contract
You shall review the Wallet Terms and Privacy Notice periodically to be informed of any modifications and/or updates and/or changes, of which you shall be informed via a relevant message to the User’s secure inbox of the Wallet Mobile App, and your continued access and use of the Wallet shall be deemed your acceptance of any modifications.
Upon completion of the above and pursuant to successful registration and/or enrolment, the Wallet Services and/or products shall
be made available to you.
At any time, you can view and/or download the Wallet Terms from the Wallet Mobile App. You may also request, at any time, a copy of the Wallet Terms and Privacy Notice and we recommend you to save or store or print-off a copy thereof for your records.
The Wallet is a service and/or product and/or Payment Instrument provided by the Bank, which is a legal entity incorporated and established in accordance with the laws and regulations of the Republic of Lebanon, with registration no. 2068552, and with registered address and/or headquarters at Furn el Chebbak Main Road, Anaissy Bldg, 1st floor, Beirut
The Bank is the issuer of Electronic Money in your Wallet Account, may act as the Payment Service Provider, either of the Payer or the Payee [as the case may be], and performs the payment services related to and/or in connection with your Wallet Account.
The Bank is regulated, supervised and authorised as an Electronic Money institution by the Central Bank of the Republic of Lebanon, which is the competent supervisory authority, under the applicable laws and regulations.
The Bank is also subject to the Law on the Provision and Use of Payment Services and Access to Payment Systems of 2018 (Law 31(I)/2018), which implements the Payment Services Directive (EU) 2015/2366 into the Lebanese legal system, and regulates, inter alia, the execution of payment transactions from and into payment accounts..
The Wallet enables you to transfer funds to other Wallet Users and third parties, pay for goods and services to other Wallet Users (either face-to-face or remotely or online via website or online via Mobile App) and/or remit funds to and from your bank account(s). Details of the list of the Wallet Merchants can be found in the Merchants’ list section of the Wallet Mobile App.
The Wallet is available for download only for Mobile devices from relative stores.
The usage of the Wallet Mobile App shall be limited to one (1) single registered device per User belonging to the User or under the User’s control.
Unique identification for the User shall be the combination of the User’s mobile phone number and mobile Registered Device. You can change the registered device anytime by following the respective swapping procedure which requires you to confirm your mobile number by receiving a code by Short Message Service (SMS) and entering your PIN.
By logging into your Wallet Mobile App, via the portal of the Mobile App, the User of the Wallet is able, inter alia, to:
feed your Wallet Account by performing a top-up via a bank transfer from your own bank account(s) with any financial institutions established in Lebanon into your Wallet Account irrespective of whether those support the Provision and Use of Payment Services and Access to the Payment Systems Law of
2018 (L. 31(I)/2018), as may be amended from time to time receive, or reject payments and/or bank transfers from other Users of the Wallet.
send and/or transfer money from your Wallet Account to a different User of the Wallet. withdraw cash solely from the ATMs of the Bank.
view the balance of your Wallet Account, the transactions executed through the Wallet and check and verify the payments displayed in your transaction history (which will show, inter alia, the amount, date and time, recipient of payment).
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The services offered to the User via the Wallet may vary depending on the User Level.
The Wallet, currently, allows the storing and execution of payment transactions only in the EURO currency.
3.8. The Bank provides with electronic receipts for successful Wallet Transactions and does not and shall not be obliged to provide you with a physical or written confirmation in respect of any Wallet Transaction.
3.9 The Bank reserves the absolute discretion to add and/or extend and/or limit and/or modify the range of services of the Wallet in accordance with the respective obligations for amendment under the Wallet Terms and in compliance with the applicable laws and regulations, as amended and/or replaced from time to time.
To apply for being registered for and/or enrolled in the Wallet and for opening a Wallet Account as a Primary Wallet Holder, the following eligibility criteria must be met:
a) In the case of natural persons - Individuals who are aged 18 years old or over and are Lebanese citizens, residing in the areas of Lebanon where the Republic of Lebanon exercises effective control.
b) Pass the Bank’s regulatory KYC and due diligence checks and procedures;
c) Not be in breach of any of the Wallet Terms during past usage of the Wallet Services; or
d) Have had your Wallet terminated and/or closed by us in the past.
The Bank reserves the right and discretion to add and/or extend and/or modify the eligibility criteria set out above.
Registration is performed through the Registered Device within the Wallet Mobile App and in accordance with the instructions set out on the registration section therein, indicating your acceptance and agreement to be bound by the Wallet Terms.
To become a User, you must apply for the Wallet by providing all of the information and/or documentation requested by the registration section of the Wallet Mobile App and by complying with all the prerequisites referred to therein.
During the online enrolment process, each prospective User must undergo a Know-Your-Customer (KYC) and due diligence process and will be checked against sanction lists, politically exposed persons (PEPs) lists, negative information lists and other databases (including, inter alia, the Infocredit Group Ltd).
It is in the Bank’s discretion, if deemed necessary, to request for one or more face-to-face meetings to be arranged between the Bank and the prospective User and to demand additional information and/or documentation for constructing the prospective User’s economic profile in compliance with the applicable anti-money laundering legislative and regulatory framework.
The Bank reserves the right and discretion to amend and/or vary the registration prerequisites and/or the Know-Your-Customer (KYC) and due diligence process according to the applicable laws and regulations, as amended from time to time.
The Bank reserves the right to accept or refuse your registration application via the Wallet Mobile App to the extent permitted by applicable laws and regulations.
The Wallet Terms come into force upon the confirmation to you, via the Wallet Mobile App, that your Wallet Account has been
approved and activated and shall continue until terminated in accordance with the relevant terms herein.
Your Wallet Account is an account where Electronic Money, which the Bank has issued to you in exchange of receiving money from you or on your behalf, is stored. The Electronic Money in your Wallet Account can be used by you for your Wallet Transactions, without accruing interest and will be held in one or more segregated bank accounts separately from other funds and/or bank accounts you may maintain with the Bank.
You agree to cooperate with all requests made by the Bank or any of the Bank’s third party service providers on its behalf in connection with your Wallet Account for the purposes of identifying or authenticating your identity or validating your funding sources and/or transactions via the Wallet. Without any limitation, this procedure may include inquiring from you further information that will allow the Bank to reasonably identify you.
The Bank reserves the absolute right to block, close, suspend or limit access to your Wallet Account in the event that you fail and/or deny and/or neglect the Bank’s requests for identity verification as per clause 7.1 above.
In the event of a Payment Transaction via the use of the Wallet Account, provided that such Payment Transaction is effected from
a Wallet Account to another Wallet Account and between Users of the Wallet, such Payment Order shall be processed instantly, and if not possible, in any event not later than the relevant time-limits provided under the Framework Contract. For any other Payment Transactions executed, the relevant time-limits provided under the Framework Contract apply.
Subject to the relevant provisions of the Framework Contract, you acknowledge that you are responsible for all transactions carried out via the Wallet Account and when using your Wallet, you give us permission to receive a transfer of funds on your behalf.
Depending on the User Level, the Bank, based on criteria determined by it, imposes limits on the amounts of money that the User is able to receive, hold, withdraw and transact through the Wallet. Details on the User Levels and corresponding transaction limits can be found at respective section of the Wallet Mobile App.