1. New Accounts shall not be activated unless all the requisite documentation including a hard copy of the application form duly signed by all the Account Holders is received by the Bank.
  2. Any requests received by the Bank through BankNet shall be deemed to have been rightfully authorised or originated from the Account Holder.
  3. Where the Subscriber, before accessing any new facilities, is required to confirm his/her concurrence electronically for the associated terms and conditions, the Subscriber understands that such concurrence via electronic media will be sufficient and will be binding on the Subscriber for all intents and purposes.
  4. The Subscriber acknowledges that any printouts/statements or files or any other form in which any information or transactions pertaining to the Account has been downloaded/copied shall not be used in any dealings with third parties in whatsoever manner and the Subscriber agrees to indemnify the Bank against all loss or damage which may occur as a result of any violation to the above.
  5. The Subscriber undertakes not to disclose the Password and/or the User ID and/or any answers to the Subscriber's "secret" questions (questions to which answers are related specifically to the Subscriber) to any other person. In the event of the Password and/or the User ID and/or, the answers to secret questions becoming known to someone other than the Subscriber, that person may be treated by the Bank as an acting agent of the Subscriber and the Subscriber undertakes to indemnify the Bank against all loss or damage which may occur as a result of the Password and/or the User ID and/or the answers to secret questions becoming known.
  6. There are no restrictions on funds transferred through the BankNet Service to any Account in the same currency which the Subscriber maintains with the Bank. There is also no maximum limit for such transfers.
  7. In the case of foreign currency transactions, the overall maximum transferable amount is limited to the equivalent of USD 10,000 (per Business Day) at the specific rates provided in the BankNet Service, or such other limit as may be agreed between the Account Holder and the Bank.
  8. The Subscriber acknowledges that no printed advice or confirmation will be issued by the Bank for any transaction conducted through this BankNet Service for transactions.
  9. The Account Holder will have the option to instruct the Bank via BankNet's secured e-mail and unless the Account Holder instructs the Bank in writing to the contrary, the Bank shall be authorised but not obliged to act upon such e-mail instructions. The Subscriber indemnifies the Bank for any loss or delay or claim or action caused as a result of the Bank acting on such e-mail instructions.
  10. In addition, the Account Holder may request for the following services online (subject to the Account Holder's eligibility):
    (a) order new cheque books;
    (b) set up, amend or cancel a standing order from an Account;
    (c) cancel an ATM card;
    (d) cancel a demand draft or manager's cheque drawn on an Account;
    (e) request for balance confirmations;
    (f) request for renewal or withdrawal of fixed deposits held in the Account Holder's Deposit Account.


The Subscriber understands that the date and the time on print-outs of transaction or confirmation advices bear the date and time of the Bank's main computer and that any transaction carried out before the cut-off time in Bank's record will be completed instantaneously and those after the cut-off time or on a non-Business Day, will be completed as next Business Day value transactions except as provided in paragraphs 3 and 4 of Section 7(L) of these terms and conditions.

Local Transfer: Any request received before 6:00pm (for AED) and 2:00pm (for other currencies), Monday to Saturday will be processed on the same working day, subject to availability of funds and accuracy of details. Otherwise it will be processed the next working day.

International Transfer: Any request received before 2:00pm, Monday to Saturday will be processed on the same working day, subject to availability of funds and accuracy of details. Otherwise it will be processed the next working day at rates applicable during the time of processing.

Viruses and Technical Problems

  1. BankNet is accessed through the Internet which is a public system over which the Bank has no control. It is therefore the Account Holder's duty to make sure that any computer or other device which the Account Holder's use to access the BankNet Service is free from and adequately protected against acquiring computer viruses and other destructive or disruptive components.
  2. Due to the nature of the BankNet Service the Bank will not be responsible for any loss of or damage to the Account Holder's data, software, computer, telecommunications or other equipment caused by using the BankNet Service.
  3. The Bank will not be liable to the Account Holder if the Bank is unable to perform its obligations under this agreement due (whether direct or indirectly) to: -
    - The failure of any machine, data processing system or transmission link;
    - Any period of essential maintenance, critical change, repairs, alteration to or failure of computer systems; or
    - Any industrial dispute anything outside the Bank's control or that of its agents or sub-contractors.

Opening of Additional Accounts through BankNet

  1. If an Account Holder requests the Bank to establish additional Accounts in his/her name through the use of his/her BankNet authorisation, such BankNet authorisations would then be construed to mean the Account Holder's consent and unless agreed otherwise operation of such Accounts and any related services will be governed by the Bank's Terms and Conditions as amended from time to time.
  2. In consideration to the Bank opening the Account authorised by the Account Holder through the use of the BankNet Service, the Account Holder indemnifies the Bank against all losses and claims that may arise because of this.
  3. The Account Holder further undertakes to provide to the Bank all related documents/information that may be required by the Bank for this/these Account(s) at their first instance, failing which the Bank shall have the right to block/close the Account(s) without further notice to the Account Holder and transfer the balance in this/these Account(s), less the Bank charges to the Account Holder's main Account with the Bank.
  4. All charges, commissions and fees are exclusive of Value Added Tax or any other similar sales tax (VAT). The Customer hereby agrees to pay an amount in respect of any applicable VAT.