{"id":257,"date":"2023-08-30T17:45:33","date_gmt":"2023-08-30T14:45:33","guid":{"rendered":"https:\/\/loop.sa\/en\/?page_id=257"},"modified":"2023-08-31T10:14:56","modified_gmt":"2023-08-31T07:14:56","slug":"terms-and-condition","status":"publish","type":"page","link":"https:\/\/loop.sa\/en\/terms-and-condition","title":{"rendered":"Terms and condition"},"content":{"rendered":"<h2>Loop Service Level Agreement<\/h2>\n<div>The Service Level Agreement subject to which Loop Services are provided are mentioned herein (Service Level Agreement). This document is available in Arabic or in English, as chosen by the user. Arabic will always prevail. The use of Loop Services by the Customer is subject to the acceptance of the Service Level Agreement. By enrolling for the Loop Services, the Customer acknowledges that he has read, understood, and agrees to be bound by these Service Level Agreement (SLA).<\/div>\n<div><\/div>\n<div><strong>DEFINITIONS<\/strong><\/div>\n<div>\u2022 \u201cDigital Payments Company\u201d is a company duly registered in Riyadh, Saudi Arabia with its registered office at Riyadh \u2013 Al Nakheel district 2649. commercial registration number 1010949680 (hereinafter referred to as the (\u201cLoop\u201d).<\/div>\n<div>\u2022 <strong>\u201cloop\u201d<\/strong>: It is the trademark owned by the Digital Payments Company for financial technology with registration number 1442021461 issued by Saudi Authority for Intellectual Property<\/div>\n<div>\u2022 \u201c<strong>Loop Services<\/strong>\u201d or \u201cServices\u201d refers to digital wallet services offered by Digital Payments Company, upon the license granted by Saudi Central Bank (SAMA)<\/div>\n<div>\u2022 &#8220;<strong>Customer<\/strong>&#8221; shall mean any person above the age of 18 years and has registered with Loop Services and who has accepted these Service level Agreement and owns a compatible mobile phone that supports Loop Services.<\/div>\n<div>\u2022 &#8220;<strong>ELM<\/strong>&#8221; is a Saudi Joint Stock Company owned by the Public Investment<\/div>\n<div>Fund (PIF), which is the investment arm of the Saudi Ministry of Finance. ELM services are provided to all forms of beneficiaries, including government, corporate sector, and individuals.<\/div>\n<div>\u2022 \u201cAgreement\u201d Service Level Agreement<\/div>\n<div>Loop Services are governed by:<\/div>\n<div>&#8211; Saudi Central Bank Regulations.<\/div>\n<div>\u2022 Instructions and directions issued by Saudi Central Bank from time to time.<\/div>\n<div>\u2022 &#8220;<strong>KYC<\/strong>&#8221; stands for Know Your Customer and refers to the various norms, rules, laws and statutes issued by SAMA from time to time under which Loop is required to procure personal identification details and authorization from the Customer as may be required at the time of enrolling for Loop Services and\/or on a later date, and this for availing and\/or continuation of the Loop Services.<\/div>\n<div>\u2022 &#8220;Transaction&#8221; shall mean any credit and\/or debit of the Customer\u2019s money balance in Loop Account including but not limited to financial services or payment for purchase of goods or services from all identified Merchants.<\/div>\n<div>\u2022 \u201cAccess Channel\u201d shall mean the method used by the Customer to access the Loop services which includes website or the smartphone application available on the google play store and the apple app store.<\/div>\n<div>\u2022 &#8220;Loop Account&#8221; shall mean the account of each Customer using Loop Services<\/div>\n<div>\u2022 &#8220;Charge(s)&#8221; or &#8220;Service Charge&#8221; shall mean the charges which Loop may impose upon the Customer in consideration for enrolling or using Loop Services.<\/div>\n<div>\u2022 \u201cRegistration\u201d shall mean the digital form to be completed by the customer along with necessary supporting information, as required by Loop for enrolling for the Loop Services.<\/div>\n<div>\u2022 &#8220;Personal Information&#8221; shall mean the secret information used to secure Loop accounts without knowledge of which the Loop Account may not be operable.<\/div>\n<div>\u2022 &#8220;M-PIN\/PIN&#8221; shall mean the secret numeric password used to secure Loop accounts without knowledge of which the Loop Account may not be operable.<\/div>\n<div>\u2022 &#8220;SAMA&#8221; shall mean the Saudi Central Bank<\/div>\n<div><\/div>\n<div><strong>INTERPRETATION<\/strong><\/div>\n<div>\u2022 All references to singular include plural and vice versa and the word &#8220;includes&#8221; should be construed as &#8220;without limitation&#8221;.<\/div>\n<div>\u2022 Words importing any gender include the other gender.<\/div>\n<div>\u2022 Reference to any regulation, order or other law includes all regulations and, amendments, for the time being in force.<\/div>\n<div>\u2022 All headings, bold typing and italics (if any) have been inserted to facilitate the reference only and do not define limit or affect the meaning or interpretation of these SLAs<\/div>\n<div><\/div>\n<div><strong>DOCUMENTATIONS<\/strong><\/div>\n<div>\u2022 The collection, verification, audit and maintenance of correct and updated Customer information is a continuous process, and Loop reserves the right, at any time, to take steps necessary to ensure compliance with all relevant and applicable SAMA requirements. The Loop reserves the right to discontinue services\/ reject applications for Loop Services at any time if there are discrepancies in information and\/or documentation provided by the customer.<\/div>\n<div>\u2022 Any information provided to Loop with the intention of securing Loop Services shall vest with Loop, and may be used by Loop, for any purpose consistent with any applicable law or regulation in Saudi Arabia, at its discretion. This information can also be shared with third parties and used for promotional and analytical purposes.<\/div>\n<div>\u2022 For any information provided by the customer to Loop for any purpose, via any medium, customer is solely responsible for the correctness of that information. If the information provided by Customer is found to be incorrect or erroneous, Loop holds no responsibility and is not liable for any consequences that the information may carry. If the Customer finds out any information related to his account is incorrect or erroneous, he must notify Loop by contacting \u00a0customercare@loop.sa , or free number (8001222228).<\/div>\n<div>\u2022 You authorize \u201cLoop\u201d Company to obtain any information related to you from &#8220;Elm&#8221;, or to make any investigations, or collect any information concerning you from any entity including the Criminal Evidences Dept.<\/div>\n<div>\u2022 Loop may make, directly or through any third party, any inquiries it considers necessary to validate the information provided by customer, including without limitation checking commercial databases or credit reports. Loop cannot guarantee any user identity even if it takes steps to verify the Customer identity.<\/div>\n<div>Responsibilities<\/div>\n<div>\u2022 The Customer will be issued, Loop Wallet Account immediately after successful registration and KYC.<\/div>\n<div>\u2022 Provide the customer with Service Level Agreements while registration.<\/div>\n<div>\u2022 Ability to display and read and agree on the Service Level Agreement while performing any transactions any time.<\/div>\n<div>\u2022 Provide the customers with Service Level Agreement upon his\/her request anytime via email or physically for any reason.<\/div>\n<div>\u2022 Protecting Loop customers by providing highly secure and excellent services.<\/div>\n<div>\u2022 Loop deals fairly with clients regarding any request as per policy.<\/div>\n<div>\u2022 Loop maintains high confidentiality with customer information and customer information is right of the customer.<\/div>\n<div>\u2022 Loop will take appropriate actions to resolve any problem raised by customer. If Loop is not able to resolve, it will approach related official government entities for help.<\/div>\n<div>\u2022 Loop pledges to do better than required.<\/div>\n<div>\u2022 Loop will provide the customer with all the required updates, etc.<\/div>\n<div>\u2022 Any changes in the provisions will be notified within at least 30 days before any change is made.<\/div>\n<div>\u2022 Loop will provide to the customer Arabic and English based on the requirement.<\/div>\n<div>\u2022 Loop will have an obligation to keep confidentiality on the customer\u2019s information.<\/div>\n<div>\u2022 Loop will have a safe and confidential environment with all information.<\/div>\n<div>\u2022 The Customer may credit the Loop Account through any of the methods mentioned in Loop Wallet. The limits and methods of crediting Loop Account are subject to change as per the discretion of Loop or as per Saudi Central Bank directions without any prior intimation to the Customer.<\/div>\n<div>\u2022 Loop Services are not transferable, and only one Loop account can be issued per Saudi National ID\/Resident Identity (Iqama)<\/div>\n<div>\u2022 The maximum monetary value that can be stored at any point of time in Loop Wallet (including monthly, quarterly, annual) cannot exceed the limits as per the SAMA regulations.<\/div>\n<div>\u2022 The maximum monetary value for Loop Wallet to Bank Transfer for any customer cannot exceed the limits as per the SAMA regulations.<\/div>\n<div>\u2022 The Customer\u2019s Loop Wallet Account must be utilized within 180 days from the date of last transaction or from the date of activation of the Loop Wallet Account;<\/div>\n<div>\u2022 Loop reserves the right to suspend\/discontinue Loop Services at any time, for any cause, including, but not limited, to the following:<\/div>\n<div>\u00a0&#8211; For any suspected discrepancy in the KYC details or Registration Form provided by the Customer.<\/div>\n<div>&#8211; To combat potential fraud, sabotage, willful destruction, threat to national security or for any other force majeure reasons etc.<\/div>\n<div>&#8211; For technical failure, modification, upgradation, variation, relocation, repair, and\/or maintenance due to any emergency or for any technical reasons.<\/div>\n<div>&#8211; For any connectivity deficiencies caused by geographical limitations.<\/div>\n<div>&#8211; If the mobile connection with which Loop Account is related, ceases to be operational or in the Customer\u2019s possession or control.<\/div>\n<div>&#8211; For any suspected violation of the rules, regulations, orders, directions, notifications issued by SAMA from time to time or for any violation of the SLA mentioned in herein.<\/div>\n<div>&#8211; If Loop believes, in its reasonable opinion, that termination\/ suspension is necessary.<\/div>\n<div>\u2022 Loop may as per its discretion introduce appropriate controls including but not limited to revised Loop Account limits. Loop may further request the Customer using Loop Services to provide additional KYC details as part of ongoing monitoring and Customer due diligence.<\/div>\n<div>\u2022<span class=\"Apple-tab-span\"> <\/span>The Customer must utilize the amounts stored in the Loop Account to make payments\/transfers for bona-fide Transactions.<\/div>\n<div>\u2022<span class=\"Apple-tab-span\"> <\/span>In the event that the account completes a period of 60 calendar months, including a period of 24 months for a dormant account without performing any operations, and Loop not able reach the customer, then the requirements of the unclaimed account stage shall apply to him and during the month following the lapse of five years, the deposited funds will be transferred to consolidated account, and these amounts represent a liability in the financial position of the Loop..<\/div>\n<div>\u2022<span class=\"Apple-tab-span\"> <\/span>For opening Loop Wallet account using Absher-OTP (One Time Password) based e-KYC in digital mode, the customer gives specific consent to Loop for authentication through OTP.<\/div>\n<div>\u2022<span class=\"Apple-tab-span\"> <\/span>The Customer understands that Loop account using Absher-OTP based e-KYC in digital mode shall not be allowed for more than one year from the date of opening the Loop account. The Customer must renew the e-KYC. In the event, the Customer fails to complete the renewal of Saudi National ID\/Resident Identity (Iqama) within (30) days prior to its expiry, the Customer authorizes Loop to close his Loop account on completion of one year from the date of opening the account.<\/div>\n<div>\u2022<span class=\"Apple-tab-span\"> <\/span>For opening Loop account using Absher-OTP based e-KYC in digital mode, the Customer undertakes that no other Loop account has already been opened nor will be opened in future using Absher-OTP based e-KYC in digital mode.<\/div>\n<div>\u2022<span class=\"Apple-tab-span\"> <\/span>For Loop account using Absher-OTP based e-KYC in digital mode, the Customer undertakes that all the transactions to Loop account shall be through the Customer\u2019s full KYC-complied account in compliance with SAMA regulations.<\/div>\n<div>\u2022<span class=\"Apple-tab-span\"> <\/span>Loop makes no express or implied warranty, guarantee, or undertaking whatsoever regarding the Loop Services, which are not expressly mentioned herein.<\/div>\n<div>\u2022<span class=\"Apple-tab-span\"> <\/span>Loop shall not be liable to any person for any delays, loss of business, profit, revenue or goodwill, anticipated savings, damages, fees, costs, expenses, etc. or for any indirect or consequential loss, whatsoever arising, on Loop Services being unavailable\/usage of the Loop Services or otherwise.<\/div>\n<div>\u2022<span class=\"Apple-tab-span\"> <\/span>Loop shall not be liable to any person for injuries or damages resulting from omissions, interruptions, delays, errors in transmission, failures or defects in equipment, or disconnection of mobile services by any telecom service provider or any other cause including but not limited to the failure to transmit, or any other causes beyond the control of Loop or for any reason whatsoever.<\/div>\n<div>Customer Responsibilities<\/div>\n<div>\u2022 Be Honest and clear while submitting the information.<\/div>\n<div>\u2022 Clearly read the Service Level Agreements and offerings.<\/div>\n<div>\u2022 Customer responsible for registration and completion of KYC (full registration)<\/div>\n<div>\u2022 Customer responsible for all type of transactions performed form his\/her wallet.<\/div>\n<div>\u2022 Customer has the right to raise any complaints.<\/div>\n<div>\u2022 Customer must receive service timely and appropriately.<\/div>\n<div>\u2022 Not to disclose the client\u2019s accounts to anyone because they are considered confidential and in the event of a disclosure, the liability is abandoned.<\/div>\n<div>\u2022 The customer must always verify his accounts and secret numbers.<\/div>\n<div>\u2022 Customer has the right to end the relation if he\/she did not agree on the Service Level Agreement.<\/div>\n<div>\u2022 If there are any unauthorized transactions or wrong transactions initiated or executed, customer must inform Loop to take immediate action on that.<\/div>\n<div>\u2022 The Customer shall be solely responsible for the confidentiality, safety, and security of the M- PIN\/PIN and other credentials. \u00a0The Customer shall be the sole owner of the M-PIN\/PIN and shall be responsible for the consequences arising out of disclosure of the M-PIN\/PIN and\/or the unauthorized use of Loop Service. In case the M PIN\/PIN\/Credentials is lost\/misplaced\/compromised, the Customer shall promptly inform Loop by sending an email to customercare@loop.sa or dial 8001222228 where after the Loop account will be blocked and new Credentials will be issued to the Customer after necessary validation. In case the mobile phone\/ SIM card associated with Loop Services is lost\/stolen\/misplaced\/ no longer in the Customer\u2019s control or possession or operational, the Customer shall promptly and immediately inform customercare@loop.sa \u00a0or dual 8001222228<\/div>\n<div>\u2022 The Customer shall not use Loop Services for any purpose that might be construed as contrary or inacceptable to any applicable laws, SAMA regulations, guidelines, judicial statements, Loop policy or public policy or for any purpose that might negatively prejudice the goodwill of Loop.<\/div>\n<div>\u2022 The customer acknowledges that the funds deposited in his wallet are the result of legitimate activities; That he\/she is responsible to authorities for the funds he\/she transfers to him\/her or received from others with and without his\/her knowledge.<\/div>\n<div>\u2022 The customer confirms that he\/she is the real beneficiary of the account.<\/div>\n<div>\u2022 The customer is obligated to update his\/her information, whenever required to do so in accordance with the regulations or as part of the continuous monitoring and due diligence of the customer.<\/div>\n<div>\u2022 The customer certifies that he\/she is not legally prohibited from dealing with him\/her, and that all the information he\/she provided are true and complete.<\/div>\n<div><\/div>\n<div>Onboarding and accounts<\/div>\n<div>\u2022 Faster onboarding into Loop wallet.<\/div>\n<div>\u2022 We inform the customer of any decision taken by the Loop in the event of closing an account 60 days before the date of the decision.<\/div>\n<div>\u2022<span class=\"Apple-tab-span\"> <\/span>No deposit amount to open an account but if there is no transaction within 90 days of opening the account, Loop has the right to take the appropriate action or close the account.<\/div>\n<div>\u2022 Customer details get verified by KYC method.<\/div>\n<div>\u2022 Customer able to end the relation by informing Loop to do required procedures<\/div>\n<div><\/div>\n<div><strong>Digital Payments Services<\/strong><\/div>\n<div>1- Add Money<\/div>\n<div>2- Your IBAN Wallet<\/div>\n<div>3- Wallet to Wallet transfer<\/div>\n<div>4- Local Bank Transfer<\/div>\n<div>5- International Transfer<\/div>\n<div><\/div>\n<div><strong>Add Money<\/strong><\/div>\n<div>&#8220;Service&#8221;:Topup wallet by mada\/credit card issued in Saudi Arabia.<\/div>\n<div>&#8220;Fees&#8221;<\/div>\n<div>Mada \u2013 Free<\/div>\n<div>Credit Card \u2013 2% plus VAT<\/div>\n<div>\u201cDuration\u201d: \u00a0Amount get credited to Wallet after transaction performed.<\/div>\n<div><\/div>\n<div><strong>Your IBAN Wallet<\/strong><\/div>\n<div>&#8220;Service&#8221;: Creating personal IBAN Wallet, IBAN can be used for bank to wallet transfer.<\/div>\n<div>&#8220;Fees&#8221;: No fees, fees might be applicable from sender bank.<\/div>\n<div>\u201cDuration\u201d: \u00a0Amount get credited to Wallet within 20 minutes after preforming transfer transaction from Arab National Bank. Transfer transaction time of credit to Wallet is upon sender bank if the sender bank is not Arab National Bank.<\/div>\n<div><\/div>\n<div><strong>Wallet to Wallet transfer<\/strong><\/div>\n<div>Service&#8221;: Wallet to Wallet transfer using mobile number, amount debited\/credited instantly though Loop digital wallet.<\/div>\n<div>&#8220;Fees&#8221;: No fees<\/div>\n<div>\u201cDuration\u201d: \u00a0Amount Debited from the sender and credited to receiver instantly.<\/div>\n<div><\/div>\n<div><strong>Local Bank Transfer<\/strong><\/div>\n<div>Service&#8221;: Wallet to local bank transfer in Saudi Arabia<\/div>\n<div>&#8220;Fees&#8221;: No fees<\/div>\n<div>\u201cDuration\u201d: \u00a0Amount get credited to Arab National Bank account within 20 minutes after preforming transfer transaction from Wallet. Transfer transaction time of credit to bank other than Arab National Bank is upon working hours of SARIE.<\/div>\n<div><\/div>\n<div><strong>International Transfer<\/strong><\/div>\n<div>&#8220;Service&#8221;: Wallet to International transfer to bank account or to cash pickup<\/div>\n<div>&#8220;Fees&#8221;: The fees are subject to change and transaction details displayed before initiation.<\/div>\n<div>&#8220;Exchange rate&#8221;: exchange rate is not fixed and changing from time to time. The exchange rate is calculated while executing transfer<\/div>\n<div>\u201cDuration\u201d: \u00a0 Amount credited to International Account while the working hours of international bank<\/div>\n<div><\/div>\n<div><strong>Wallet operations<\/strong><\/div>\n<div>\u2022 The customer who is registered in the wallet obligated all responsibility for using the service and protect personal and financial information and not to share any personal information and a verification code with others.<\/div>\n<div>\u2022 Monthly transaction limit: the monthly transaction is linked to the wallet, as the monthly wallet limit is 20,000 SAR as per Saudi Central Bank. Therefore, the total value of transactions in the wallet of all transaction types does not exceed 20,000 SAR per month. Customer will be notified if there is change on wallet monthly limit<\/div>\n<div>\u2022 Account statement transactions: The customer can view the digital account statement through the wallet, and the balance can be known by logging in to the wallet.<\/div>\n<div>\u2022 The service cannot be used if this agreement has not been accepted.<\/div>\n<div>\u2022 You are not entitled to use the service in cases that violate the laws of the Kingdom of Saudi Arabia.<\/div>\n<div>\u2022 You must abide by the laws of the Kingdom of Saudi Arabia.<\/div>\n<div>\u2022 The amount is deducted instantly from the wallet after performing transaction.<\/div>\n<div>\u2022 Transfer fees and foreign rate display to customer before performing transaction.<\/div>\n<div>\u2022 OTP or PIN entered before performing transaction.<\/div>\n<div>\u2022 Transaction status can be checked from transaction history.<\/div>\n<div>\u2022 Transferred amount refunded if the transaction not completed successfully for any reason<\/div>\n<div>\u2022 Transaction Fund and transfer can no exceed the monthly limit<\/div>\n<div>\u2022 Customer fund protected by Wallet linked to system and customer fund Bank account<\/div>\n<div>\u2022 When any unauthorized transaction process has been created or completed, and wrongly executed the customer must communicate with the Digital Payments Company immediately to take appropriate actions towards it and amount will be refunded if the amount is available. The customer \/ complainant is responsible for the unauthorized transaction, process, creation, and wrongly executed if he\/she did not protect personal and financial information.<\/div>\n<div>Customer Undertakings and Warranties<\/div>\n<div>\u2022 You will comply with all laws and regulations applicable in the Kingdom of Saudi Arabia, and you are governed by the laws and provisions, and the orders and instructions issued by the competent authorities.<\/div>\n<div>\u2022 Not hinder the proper operation matrix of \u201cLoop\u201d Application or any of its parties<\/div>\n<div>\u2022 You will provide correct and accurate information to \u201cLoop\u201d and update it periodically as required.<\/div>\n<div>\u2022 Safeguard your personal information of your account or any identifier that we provide to you and allows you to access to the account safely and secretly, and you will be fully responsible for any use of the account without your knowledge.<\/div>\n<div>\u2022 Loop makes no express or implied warranty, guarantee, or undertaking whatsoever regarding the Loop Services, which are not expressly mentioned herein.<\/div>\n<div>\u2022 You know, and obey any notification coming to you through the application or any application\u2019s text messages concerning your use of the service provided by \u201cLoop\u201d application.<\/div>\n<div>\u2022 Loop shall not be liable to any person for any delays, loss of business, fees, costs, expenses, etc. or for any indirect or consequential loss, whatsoever arising, on Loop Services being unavailable\/usage of the Loop Services or otherwise.<\/div>\n<div>\u2022 The Customer agrees to receive all commercial messages including transactional messages from Loop.<\/div>\n<div>\u2022 I (\u201cthe Customer\u201d) agree that the opening and maintenance of Loop Account is subject to rules and regulations introduced or amended from time to time by SAMA.<\/div>\n<div>\u2022 I agree to abide by the Loop&#8217;s Service Level Agreement and rules in force and the changes thereto in SLA from time to time relating to my Account as communicated and made available on the Loop&#8217;s mobile App.<\/div>\n<div><\/div>\n<div><strong>DECLARATION BY LOOP CUSTOMERS<\/strong><\/div>\n<div>\u2022 I hereby declare that I am a citizen\/resident of the Kingdom of Saudi Arabia.<\/div>\n<div>\u2022 I certify that the information provided by me above are to the best of my knowledge and belief, true, correct, and complete and that I have not withheld any material information that may affect the assessment\/categorization of my Loop Account. I undertake to declare and disclose any change\/s that may take place in the information provided by me within 30 days from the occurrence date.<\/div>\n<div>\u2022 I also agree that my failure to disclose any material fact known to me, now or in future, may forbid me from transacting in the Loop account, and Loop shall have the right to put restrictions with respect to the operations of my Loop Account and\/or close it and\/or report to any regulator and\/or any authority designated by the Saudi Arabian Government, and\/or take any other action as may be deemed appropriate by Loop, under the guidelines issued by SAMA from time to time, if the deficiency is not remedied by me within the stipulated period.<\/div>\n<div>\u2022 I also agree to furnish to Loop any other details that are called upon me to provide on Loop Account of any change in law either in Saudi Arabia or abroad in the subject matter herein.<\/div>\n<div>\u2022 I agree to abide by the Loop&#8217;s Service Level Agreement and rules in force and the changes from time to time relating to my Account as communicated and made available on the Loop&#8217;s mobile App.<\/div>\n<div>\u2022 The customer declares that no other party has been granted permission to use the wallet in all its transaction.<\/div>\n<div>\u2022 I, the customer, acknowledge my of all transactions that take place to the beneficiary or from the beneficiary<\/div>\n<div><\/div>\n<div>Maintaining personal information and confidentiality<\/div>\n<div>\u2022 Safeguard your personal information of your account or any identifier that we provide to you and allows you to access to the account safely and secretly, and you will be fully responsible for any use of the account without your knowledge.<\/div>\n<div>\u2022 Your responsibility to protect your personal and financial information and not to disclose them to anyone&gt;<\/div>\n<div>\u2022 Under your responsibility not to share your personal and financial information<\/div>\n<div>\u2022 under your responsibility not to share the verification code )OTP( sent to you with any other party<\/div>\n<div>\u2022 You are responsible for all following results after sharing your personal and financial information.<\/div>\n<div>\u2022 You are responsible for all following results after sharing the verification code (OTP) sent to you.<\/div>\n<div>\u2022 You are responsible for all following results after sharing your PIN<\/div>\n<div><\/div>\n<div><strong>Financial Digital Transactions<\/strong><\/div>\n<div>\u2022 Display all transactions details before executing all transactions) Receiver, amount, VAT, fees if applicable, total debited amount, date, and reference number)<\/div>\n<div>\u2022 Display all transactions details after executing all transactions) Receiver, amount, VAT, fees if applicable, total debited amount, date, and reference number)<\/div>\n<div>\u2022 Display transactions details (Beneficiary, amounts, currency, fees, VAT, Total debiting amount, Reference Number, Date and Time.)<\/div>\n<div>\u2022 Send Notification Transaction details through the wallet.<\/div>\n<div>\u2022 Send SMS transactions details to registered mobile number.<\/div>\n<div>\u2022 Provide reference number to sender and receiver of payments.<\/div>\n<div>\u2022 Provide currency of amount.<\/div>\n<div>\u2022 Provide Date and Time<\/div>\n<div>\u2022 Provide exchange rate in applicable transactions type such as International transfers.<\/div>\n<div>\u2022 Display Fees and total deductible amount<\/div>\n<div>\u2022 Amount debited instantly after performing transactions<\/div>\n<div><\/div>\n<div><strong>Errors<\/strong><\/div>\n<div>\u2022 In the event of error, Loop must inform the customer.<\/div>\n<div>\u2022 Periodic reconciliation performed and ant error is rectified then and there with full transparency.<\/div>\n<div><\/div>\n<div><strong>INDEMNITY<\/strong><\/div>\n<div>\u2022 You declare and warrant to indemnify, defend and hold Loop and\/or related parties harmless from all claims, losses, damages, liabilities, costs and expenses, including and without limitation legal fees and expenses, arising out of or related to the use or misuse of Loop Services, any violation of these Service Level Agreements, or any breach of the warranties, and covenants. And you declare and warrant that \u201cLoop\u201d Company has the right to claim for suitable compensation upon occurring of any damage by you to \u201cLoop\u201d application or any of its customers as a result of negligence, fraud or violation to any of these controls, service level agreement.<\/div>\n<div><\/div>\n<div><strong>Complaints<\/strong><\/div>\n<div>\u2022 Taking care and paying attention to the complaint and handling it and responding to all points presented in the complaint as soon as possible.<\/div>\n<div>\u2022 Loop must close the complaint within the time frame time.<\/div>\n<div>\u2022 Taking care and paying attention to the complaint and handling it and responding to all points presented in the complaint as soon as possible.<\/div>\n<div>\u2022 Commitment to instruction received by Saudi Central Bank.<\/div>\n<div>\u2022 customer service contact number 8001222228 and e-mail customercare@loop.sa<\/div>\n<div>\u2022 The customer is contacted regarding the complaint submitted by the customer within 3 calendar days from the date of receiving the complaint, while the complaint has not been addressed after we have been notified of customer\u2019s confirmation that not solved before the end of the specified period.<\/div>\n<div>\u2022 Responding to customers regarding the decision taken of the complaint will be within 5 calendar days from the date it was received.<\/div>\n<div>\u2022 If the customer wishes to escalate the complaint due to dissatisfaction with the result presented form the complaint, then the customer is provided with all the required data and directed to the concerned party.<\/div>\n<div><\/div>\n<div><strong>CONTACT INFORMATION<\/strong><\/div>\n<div>\u2022 Email: customercare@loop.sa<\/div>\n<div>\u2022 Customer Center: 8001222228<\/div>\n<div>\u2022 Live Chatbot via social media<\/div>\n<div>\u2022 Website: www.Loop.sa<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Loop Service Level Agreement The Service Level Agreement subject to which Loop Services are provided are mentioned herein (Service Level Agreement). This document is available in Arabic or in English, as chosen by the user. Arabic will always prevail. The use of Loop Services by the Customer is subject to the acceptance of the Service [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-257","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/loop.sa\/en\/wp-json\/wp\/v2\/pages\/257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/loop.sa\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/loop.sa\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/loop.sa\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/loop.sa\/en\/wp-json\/wp\/v2\/comments?post=257"}],"version-history":[{"count":4,"href":"https:\/\/loop.sa\/en\/wp-json\/wp\/v2\/pages\/257\/revisions"}],"predecessor-version":[{"id":288,"href":"https:\/\/loop.sa\/en\/wp-json\/wp\/v2\/pages\/257\/revisions\/288"}],"wp:attachment":[{"href":"https:\/\/loop.sa\/en\/wp-json\/wp\/v2\/media?parent=257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}