Terms and Conditions

This Agreement is a contract between you and My Rateb General Trading Company (the “Company” or “My Rateb”), a company under the laws of Kuwait, and governs your use of all My Rateb Services. Using My Rateb Services means that you accept all of the terms and conditions contained in this Agreement and the Privacy Statement. You should read all of these terms carefully.

My Rateb means My Rateb General Trading Company. In this Term & Conditions, My Rateb is sometimes referred to as “we,” “us,” or “our,” depending on the context.

We may amend this Agreement at any time by posting a revised version on our website. The revised version will be effective at the time we post it. All future changes set out in the Policy Update already published on the “Legal Agreements” page of My Rateb website at the time you register for My Rateb Services are incorporated by reference into this Agreement and will take effect as specified in that Policy Update. You must agree to our new terms and conditions in order to keep using our Services and you will be asked to do so when you login to your account.

Payments received in your Account may be reversed at a later time, for example, if a payment is subject to an Error, Reversal, Claim or is otherwise invalidated.

We may close, suspend, or limit your access to your Account, and/or limit access to your funds if you violate this Agreement, My Rateb Acceptable Use Policy, or any other agreement you enter into with My Rateb.

You are solely responsible for understanding and complying with any and all laws, rules and regulations of the State of Kuwait that may be applicable to you in connection with your use of My Rateb Services.

1.1 Payment Services. My Rateb is a payment services provider and acts as such by creating, hosting, maintaining and providing our Services to you via the Internet. Our services allow you to send payments to anyone who is a resident of Kuwait and has a My Rateb Account to receive payments into an Account. When You request the execution of a Transaction, My Rateb shall issue electronic confirmation receipt to You to advise if a Transaction You request has been successfully completed or will alternatively inform you by electronic means if the Transaction has been rejected. A Transaction shall be considered successfully completed only on My Rateb issues an electronic confirmation receipt to You. Each time You pay or withdraw cash from the ATM machine, you hereby irrevocably authorize and direct My Rateb to debit your Account by that amount immediately upon My Rateb confirming the successful completion of the Transaction and to deduct any fees or charges associated with that transaction upon the successful completion of each Transaction You request.

All Transactions from the Account must be authorized by You using the Security PIN Code or by such other methods that My Rateb may implement from time to time. For funds transfer at the Exchange or a Transaction with a Merchant, You may be required to present your proof of identity (such as a valid Civil ID) in order to affect the Transaction, and the identification documents You present may be recorded by the Merchant.

At its sole discretion, My Rateb may introduce new Services or discontinue any existing Services from time to time and at any time without notice.

Each Transaction will be issued with a unique transaction number that is included in the confirmation electronic receipt sent to You. This transaction number is used to track and identify all Transactions carried out on your Account and You will be required to provide such transaction number if you wish to query any Transaction on your Account.

1.2 Information. In order to open and maintain an Account, you must be over the age of 18, have a valid residency and must provide us with correct and updated Information.

1. Your contact information. It is your responsibility to keep your primary information such civil ID number, expiry date and mobile number up to date so that My Rateb can communicate with you electronically. You understand and agree that if My Rateb sends you an SMS or a push notification communication but you do not receive it because your mobile number on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive such communications, My Rateb will be deemed to have provided the communication to you effectively.

2. You can update your mobile number at any time by logging into My Rateb account.

4. Identity Verification. You authorize My Rateb, directly or through third parties, to make any inquiries we consider necessary to validate your identity, including as necessary to comply with our obligations under applicable laws and regulations. This may include asking you for further information or documentation, requiring you to provide personal identification documents, accessing other services to provide authentication and verification.
   

1.3 Beneficial Owner. In order to receive funds into your account, you must be the beneficial owner of the Account, are over the age of 18, and transact only on behalf of yourself.

2. Withdrawing Cash, Payments, Loans & Transfers.

2.1 Withdrawing Limits. My Rateb may at its own discretion, impose limits on the amount of cash you can withdraw in one single transaction, or during a specific amount of time. My Rateb may also, at its own discretion, set a withdrawal limit based on the number of withdrawals per day, per week, per month or on the amount requested. These limits are set to protect the account owner from fraud or misuse. You understand that these limits may affect the way you access your cash in your account.

2.2 Salary Payments. My Rateb may at its own discretion, impose limits on the amount of payment you can receive into your account per day, per week, per month or on the amount received. These limits may change at any time and without notice to comply with local laws and regulations. These limits are set to protect the account owner from fraud or misuse. You understand that these limits may affect the way you access your cash in your account.

2.3 Transfers from Exchanges. When requesting transfers through the Exchange companies, you authorize My Rateb to debit your account with us in the amount requested for the transfer. It is your responsibility to verify that the amount requested by the Exchange companies is correct. My Rateb shall have no responsibility if the transfer amount requested by the Exchange company is incorrect, if the transfer is delayed or not processed due to unavailability of sufficient funds or mistaken statement of insufficient information in the transfer application, or due to restrictions on transfers, or if the amount is withheld, or requisitioned by the local or foreign authorities, or in case of suspicion that the transaction relates to money laundering, or for any other causes beyond My Rateb’s control. You also undertake to indemnify My Rateb against any loss which My Rateb may incur as a result of the aforesaid, in all cases, My Rateb shall not be liable for any loss that may result from the execution of a transfer or from any mistake or negligence on the part of any of its Exchange companies.

You also agree to pay all transfer fees imposed by the Exchange companies for each transfer processed by them on your behalf and you agree that those transfer fees will also be deducted from your My Rateb account automatically upon successful transfer transaction by the Exchange companies. You authorize My Rateb to debit your account and settle your outstanding balance with the Exchange companies for any transfer done by yourself or on your behalf.

2.4 Payment Methods. My Rateb accepts only KNET as the payment method to pay beneficiaries. By using KNET, you are providing My Rateb with authority to charge that card (as per applicable law).

2.5 Sending or Requesting Payment from Another Person. In order to send or request money from another person, the recipient or sender must have a valid active RATEB account. You agree and give consent for your name, mobile number and your picture to be shared with other RATEB users when processing a payment to you or requesting a payment from you.

2.6 Refunded Payments. Should your payment to your beneficiary require refunding, My Rateb may will only refund the amount back directly into your bank account if you are the sender or to your RATEB account if you are the recipient. This refund will be processed and returned to you within maximum 10 business Days of the date you requested refund of the payment. All refund requests must adhere to the process defined in section 4 and section 5 of this agreement.

Should the refund request be related to a transfer or transaction done through an Exchange company, you must follow up this request with the Exchange company; My Rateb will not credit any account or refund any money for any transactions processed at the Exchange companies. All refunds will be made in Kuwait Dinar.

2.7 Processing Fee. For each payment transaction processed on My Rateb platform, a processing fee will be added to the total transaction payment. This processing fee is non-refundable and My Rateb may at its own discretion assess the fee amount and amend it accordingly. You agree to pay this processing fee which will be added on the total amount requested when you process a transaction.

2.8 Loans. My Rateb is a facilitator between two parties and only provides the platform on which both can transact a payment. When using Pay Loan feature on our platform, My Rateb will credit the full loan amount into the borrower’s account. Subsequently, My Rateb will automatically calculate the monthly deductions and deduct this amount from future payments to the borrower until the loan has been fully repaid or forgiven by the loan initiator. All loans processed on My Rateb platform are interest free and murabaha free. Monthly deductions calculations may be rounded to the highest or lowest decimal for easy deduction reference. You can change the amount, the tenure of the loan, the monthly deduction amount, or you can forgive the loan at your discretion. My Rateb is not in any way responsible for any actions you may take regarding the loan you give to a domestic worker.

2.9 Loans Conditions. As the recipient of a loan, you authorize My Rateb to automatically deduct the monthly payment amount due, as set by the loan provider, with each salary payment cycle. Furthermore, you agree that the loan initiator may at his discretion and without any notice to you change the loan terms or the monthly deduction.

2.10 Loans Guarantee. My Rateb does not guarantee any loans nor does My Rateb guarantee or ensure that the loan borrower will repay the amount partially or in full. You understand that when giving a loan or using the loan feature in My Rateb you are accepting the risk that the recipient of the loan may not be able to pay you back for any reason. You shall indemnify My Rateb from any claim arising from non-payment or any other claims. You are solely responsible to collect any outstanding amount due on a loan in case of non-payment and you indemnify My Rateb from any responsibility in case the borrower has closed his account or can no longer repay the loan for whatever reason.

3. Closing Your Account.

3.1 Closing Your Account. MY Rateb may at any time block, restrict and/or suspend Your use of your Account, the Service and/or the RATEB Application without notice, and/or terminate this Agreement immediately, in each case for any reason or no reason, including if You violate this Agreement or My Rateb suspects fraudulent activity. You agree that My Rateb will not be liable to You or any third party for doing so. You may also terminate the Agreement in respect and close your account at any time. If You or My Rateb terminate the Service, You can either withdraw all the money through My Rateb ATM machines or transfer the balance through the Exchange Companies.

3.2 Expired Civil ID. If your Civil ID is not renewed for six months after it has expired, your account will be automatically closed. If any funds are left in your account, you can either send us an email to refunds@myrateb.com and we will send you instructions on how to proceed or call us on our landline number to inquire on steps on how to withdraw your money. We will also send you an SMS to your mobile number once your civil ID has expired notifying you of your options.

If you close your Account while we are conducting an investigation, we may hold your funds to protect My Rateb, or a third party against the risk of reversals, chargebacks, claims, fees, fines, penalties and other liability. You will remain liable for all obligations related to your Account even after the Account is closed.

You may also terminate the Agreement in respect and close your account at any time. If You or My Rateb terminate the Service, You can either withdraw all the money through My Rateb ATM machines or transfer the balance through the Exchange Companies

3.3 Dispute Resolution. Should a dispute arise you must raise a claim by filling out a complaint form available online or send an email to complaints@Myrateb.com. During the claim process, My Rateb may require you to provide documentation or other information. You may be asked to provide receipts, police reports, or anything else that My Rateb specifies.

4. Account Protection.

4.1 Protecting Your Account. You are solely responsible to protect your account and as such protect your password, PIN number, or any other form of authentication you use to interact with My Rateb Services. Should an unauthorized transaction occur on your account due to the fact that someone steals your password or PIN number, you gave someone access to your Account or PIN number (by giving them your login information) who then uses the password to access your Account, and sends a payment from your Account or withdraws cash from your account, or they conduct transactions without your knowledge or permission, you are responsible for any resulting use.

4.2 Notification Requirements.

You should immediately notify My Rateb if you believe:

● there has been an unauthorized transaction or unauthorized access to your Account;

● there is an error in your Account history statement;

● your password or My Rateb PIN has been compromised;

● your My Rateb mobile phone has been lost, stolen or deactivated;

For unauthorized transactions or errors in your Account, notify us by calling My Rateb Customer Service. When you notify us, provide us with all of the following information:

● Your name, Civil ID and mobile number registered to your Account;

● A description of any suspected unauthorized transaction or error and an explanation as to why you believe it is incorrect or why you need more information to identify the transaction; and

● The amount of any suspected unauthorized transaction or error.

If you notify us orally, we may require that you send us your complaint or question in writing within 10 Business Days. During the course of our investigation, we may request additional information from you.

4.3 My Rateb Actions After Receipt of Your Notification. Once you notify us of any suspected unauthorized transaction or error, or we otherwise learn of one, we will do the following:

● We may immediately block your Account if we suspect or detect fraud until we conduct further investigation.

● We will conduct an investigation to determine whether there has been an unauthorized transaction or error.

● We will complete our initial investigation within 3 business days of the date we received your notification of the suspected unauthorized transactions or error and notify you with the results. Investigations which require a longer time will be completed within a maximum of 10 business days.

● If we decide that we need more time to complete our investigation, we will inform you by call and/or by email communication of such a need.

● We will inform you of our decision after completing our investigation by calling you and/or sending you an email.

If we determine that there was an unauthorized transaction or error, we will promptly credit the full amount into your Account within 1 business day of our determination. If we decide that there was not an unauthorized transaction or error, we will include an explanation of our decision in our email or letter to you. All credit amounts will be processed in Kuwait Dinar.

5. Errors.

5.1 My Rateb Errors. We will rectify any error that we discover. If the error results in your receipt of less than the correct amount to which you are entitled, My Rateb will credit your Account for the difference. If the error results in your receipt of more than the correct amount to which you are entitled, My Rateb will debit the extra funds from your Account. Should you wish to contact us about a refund, you can call us on our company numbers.

5.2 Your Errors. If you erroneously send a payment to the wrong party, or send a payment for the wrong amount (based on a typographical error, for example), your only recourse will be to contact the party to whom you sent the payment and ask them to refund the payment. My Rateb will not reimburse you or reverse a payment that you have made in error.

6. Restricted Activities.

6.1 Restricted Activities. In connection with your use of our website, your Account, My Rateb Services, or in the course of your interactions with My Rateb, other Users, or third parties, you will not:

a. Breach this Agreement that you have agreed to with My Rateb;

b. Violate any applicable law, statute, ordinance, or regulation;

c. Infringe My Rateb or any third party's copyright, patent, trademark, trade secret or other intellectual property rights, or rights of publicity or privacy;

d. Act in a manner that is defamatory, trade libelous, threatening or harassing to our employees, agents or other Users;

e. Provide false, inaccurate or misleading Information;

f. Engage in potentially fraudulent or suspicious activity and/or transactions;

g. Refuse to cooperate in an investigation or provide confirmation of your identity or any Information you provide to us;

h. Control an Account that is linked to another Account that has engaged in any of these restricted activities;

i. Disclose or distribute another User's Information to a third party, or use the Information for marketing purposes unless you receive the User’s express consent to do so;

j. Send unsolicited email to a User or use My Rateb Services to collect payments for sending, or assisting in sending, unsolicited email to third parties;

k. Take any action that imposes an unreasonable or disproportionately large load on our infrastructure;

l. Facilitate any viruses, trojan horses, worms or other computer programming routines that may damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, data or Information;

m. Use an anonymizing proxy; use any robot, spider, other automatic device, or manual process to monitor or copy our website without our prior written permission;

n. Use any device, software or routine to bypass our robot exclusion headers, or interfere or attempt to interfere with our website or My Rateb Services;

o. Take any action that may cause us to lose any of the services from our Internet service providers, payment processors, or other suppliers;

7. Your Liability - Actions We May Take.

7.1 Your Liability. You are responsible for all reversals, chargebacks, claims, fees, fines, penalties and other liability incurred by My Rateb, a User, or a third party caused by or arising out of your breach of this Agreement, and/or your use of My Rateb Services. You agree to reimburse My Rateb, a User, or a third party for any and all such liability.

7.2 Reimbursement for Your Liability. In the event you are liable for any amounts owed to My Rateb, My Rateb may immediately remove such amounts from your balance/ any payment received by you. If you do not have a balance/ monies in your account that is sufficient to cover your liability, your remaining balance (if any) will be removed, your Account will have negative balance up to the amount of your liability, and you will be required to immediately reimburse My Rateb through an alternative method. If you do not do so, My Rateb may engage in collection efforts to recover such amounts from you.

7.3 Actions by My Rateb – Restricted Activities. If My Rateb, in its sole discretion, believes that you may have engaged in any restricted activities, we may take various actions to protect My Rateb, other third parties or you from reversals, claims, fees, fines, penalties and any other liability. The actions we may take include but are not limited to the following:

1. We may close, suspend, or limit your access to your Account or My Rateb Services;

2. We may refuse to provide My Rateb Services to you now and in the future;

3. We may hold your funds, subject to applicable law, for a period of time reasonably needed to protect against the risk of liability to My Rateb or a third party, or if we believe that you may be engaging in potentially fraudulent or suspicious activity and/or transactions; and

4. We may hold, apply or transfer the funds in your Account as required by judgments and orders which affect you or your Account, including judgments and orders issued by courts and directed to My Rateb.
   

7.4 Actions by My Rateb - Account Closure, Termination of Service, Limited Account Access; Confidential Criteria. My Rateb, in its sole discretion, reserves the right to terminate this Agreement and/or access to My Rateb Services for any reason and at any time upon notice and payment to you of any unrestricted funds held in your balance. If we limit access to your Account, we will provide you with notice of our actions, and the opportunity to request restoration of access if, in our sole discretion, we deem it appropriate. Further, you acknowledge that My Rateb’s decision to take certain actions, including limiting access to your Account, placing holds, may be based on confidential criteria that is essential to our management of risk, the security of Users’ Accounts and My Rateb system. You agree that My Rateb is under no obligation to disclose the details of its risk management or its security procedures to you.

8. General Terms.

8.1 Limitations of Liability. IN NO EVENT SHALL WE, OUR PARENT, OUR OFFICERS, DIRECTORS, AGENTS, JOINT VENTURES, EMPLOYEES OR SUPPLIERS BE LIABLE FOR LOST PROFITS, ANY SPECIAL, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES OR FOR LOSS OF DATA OR LOSS OF BUSINESS ARISING OUT OF OR IN CONNECTION WITH OUR WEBSITE, MY RATEB SERVICES, OR THIS AGREEMENT (HOWEVER ARISING, INCLUDING NEGLIGENCE) UNLESS AND TO THE EXTENT PROHIBITED BY LAW OUR LIABILITY, AND THE LIABILITY OF OUR PARENT, OUR OFFICERS, DIRECTORS, AGENTS, JOINT VENTURES, EMPLOYEES AND SUPPLIERS, TO YOU OR ANY THIRD PARTIES IN ANY CIRCUMSTANCE IS LIMITED TO THE ACTUAL AMOUNT OF DIRECT DAMAGES.

8.2 No Warranty. SUBJECT TO APPLICABLE LAW, EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT, MY RATEB SERVICES ARE PROVIDED “AS IS” AND WITHOUT ANY CONDITION, REPRESENTATION OR WARRANTY, WHETHER EXPRESS, IMPLIED OR STATUTORY. MY RATEB, OUR OFFICERS, DIRECTORS, AGENTS, JOINT VENTURES, EMPLOYEES AND OUR SUPPLIERS SPECIFICALLY DISCLAIM ANY IMPLIED CONDITIONS OR WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. My Rateb does not guarantee continuous, uninterrupted or secure access to any part of My Rateb Services, and operation of our site may be temporarily suspended for maintenance or upgrade or interfered with by numerous factors outside of our control. My Rateb will make reasonable efforts to ensure that requests for electronic debits and credits involving payments are processed in a timely manner but My Rateb makes no representations or warranties regarding the amount of time needed to complete processing because My Rateb Services are dependent upon many factors outside of our control, such as delays in the banking system.

8.3 Indemnification. You agree to defend, indemnify and hold My Rateb, and our officers, directors, agents, joint ventures, employees and suppliers harmless from any claim, demand (including attorneys’ fees), fine, or other liability incurred by any third party due to or arising out of your or your employees’ or agents’ breach of this Agreement and/or use of My Rateb Services.

8.4 General. You agree that you will not use the Account to undertake any of the following actions or to display, upload, modify, publish, distribute, disseminate, transmit, update or share any information that:

1. belongs to another person to which you do not have any right to;

2. Is grossly harmful, harassing, blasphemous defamatory, obscene, pornographic, paedophilic, libellous, invasive of another's privacy, hateful, or racially, ethnically objectionable, disparaging, relating or encouraging money laundering or gambling, or otherwise unlawful in any manner whatever;

3. harms minors in any way;

4. Infringes any intellectual property in any manner;

5. contains viruses, corrupted files, or any other similar software or programs that is designed to interrupt, destroy or that may limit the functionality of any computer source or that may damage or adversely affect the operation of another person’s computer, its web-sites, any software or hardware, or telecommunications equipment;

6. interferes with or disrupts the Account, My Rateb’s services or any of My Rateb’s other websites, servers, or networks;

7. impersonate any other person;

8. falsify or delete any author attributions, legal or other proper notices or proprietary designations or labels of the origin or the source of software or other material or deceive or mislead the addressee about the origin of any messages or communicate any information which is grossly offensive or menacing;

9. forge headers or manipulate identifiers or other data in order to disguise the origin of any content transmitted through any web sites; and

10. engage in any illegal activities or breach laws or regulations;
    

8.5 Calls to You; Mobile Telephone Numbers. By providing My Rateb a mobile number, you consent to receiving calls and text messages including autodialed and prerecorded messages from My Rateb at that number.

8.6 Password Security. You are responsible for maintaining adequate security and control of any and all IDs, passwords, personal identification numbers (PINs), or any other codes that you use to access My Rateb Services.

8.7 Governing Laws & Dispute Resolution. This Agreements is construed and governed by the laws of the State of Kuwait and in the event of any dispute, the parties agree to submit to the exclusive jurisdiction of the Kuwait courts.