Terms and Conditions
Terms & Conditions for Free Account-to-Account Transfers via Mobile Banking promotion
These Terms & Conditions govern the use of Sohar International (“SIB”) Mobile Banking Application (“App”) for initiating account-to-account fund transfers within Oman, including:
- Transfers to bank accounts held at other licensed banks in the Sultanate of Oman (inter-bank transfers) or within Sohar International.
1. Promotional Fee Waiver
- All eligible transfers initiated via the App shall be exempt from applicable service fees for a period of twelve (12) months from the Effective Date.
- The waiver applies exclusively to retail individual customers.
- Upon expiry of the promotional period, standard fees shall apply in accordance with SIB’s publicly available Schedule of Charges.
- Eligible Transfers shall be defined as transfers to accounts at other licensed banks in Oman, excluding international remittances, transfers within SIB, and transfers to own accounts.
2. Rewards Points Incentive
- Customers shall be entitled to ten (10) SIB Rewards Points per qualifying transfer executed via the App.
- Points shall be credited within 60 business days following transaction completion.
- This incentive is subject to the prevailing SIB Rewards Program Terms & Conditions.
- Rewards points are limited to a maximum of ….. per customer per month.
- Redemption requires a minimum of 500 points, in multiples of 500 points.
- For every 500 points redeemed, customers will receive a cash credit equivalent to 1% (i.e 500 baisa per 500 points) in their
- SIB account.
- Transactions excluded from this promotion:
- International remittances
- Transfers to own accounts in Sohar international
3. Authentication and Security
- All transfers must be authenticated using secure login credentials, including but not limited to biometric verification, one-time passwords (OTP), or secure PIN.
- Customers are solely responsible for safeguarding their login credentials and device access.
- SIB shall not be held liable for unauthorized transactions resulting from customer negligence.
4. General Provisions
- These Terms & Conditions are governed by the laws and regulations of the Sultanate of Oman.
- All transactions are subject to CBO AML/CFT guidelines. SIB reserves the right to review, block, or delay transactions to comply with applicable laws and regulations.
- SIB reserves the right to amend, suspend, or terminate this offer at its sole discretion, subject to prior notice.
- Use of the App constitutes acceptance of these Terms & Conditions.
5. Governing Law and Jurisdiction
- These terms and conditions are governed by the laws and regulations of the Sultanate of Oman.
- Any disputes shall be subject to the exclusive jurisdiction of the competent courts of the Sultanate of Oman.