Terms and conditions

1. About these terms and about us

1.1  These terms and conditions form the agreement between you and Yusr Bank, a Saudi Joint Stock Company with commercial registration number 1010584772, whose registered office is at King Fahd Road, Al Olaya, Riyadh, Kingdom of Saudi Arabia. Yusr Bank is licensed and supervised by the Saudi Central Bank (SAMA) as a digital bank. In these terms, "we", "us" and "our" mean Yusr Bank, and "you" and "your" mean the person in whose name the account is held.

1.2  These terms apply to Yusr Current, Yusr Goals, the Yusr Card and Yusr Send, together referred to as "your account". Yusr Later is not provided by us and is dealt with separately in clause 6.

1.3  The following documents also apply to your relationship with us and should be read alongside these terms: our privacy notice, which explains how we handle information about you; our cookie policy, which covers our website; the schedule of fees and charges summarised in clause 5 and published in full in the app; and any product-specific terms shown to you in the app before you use a particular feature. If a product-specific term conflicts with these terms, the product-specific term applies to that product only.

1.4  A "business day" means Sunday to Thursday, excluding public holidays in the Kingdom of Saudi Arabia. Times refer to Riyadh time. Where we say we will do something "immediately", we mean as soon as we reasonably can once we become aware of the matter.

1.5  This agreement has no fixed end date. It continues until your account is closed under clause 9, whether by you or by us.

1.6  The current version of these terms is always available in the app under Settings, and at yusr.com.sa. You can ask us at any time to send you a copy by email, free of charge, and we recommend you keep one.

2. Opening your account

Who can open an account

2.1  To open a Yusr account you must be 18 years of age or over, resident in the Kingdom of Saudi Arabia, hold a valid Saudi national ID or Iqama, and hold a mobile number registered in your own name with a Saudi mobile operator. You must be opening the account for yourself and not on behalf of, or for the benefit of, anyone else.

2.2  You may hold one Yusr Current account. We do not currently offer joint accounts, accounts for people under 18, or accounts for businesses, trusts or associations.

The information you must give us

2.3  When you apply, you must give us your full name as it appears on your identity document, your national ID or Iqama number, your date of birth and nationality, your mobile number and email address, your address in the Kingdom, your employment status, employer, income range and source of funds, your tax residency, and the reason you are opening the account. You must also scan your identity document and record a short video of your face so that we can confirm the document is genuine and belongs to you.

2.4  Everything you tell us must be accurate, complete and up to date. If any of it changes — including your address, your employment, your contact details or your tax residency — you must tell us within 30 days through the app.

2.5  We check the details you give us against national records and against the checks we are required to carry out before opening an account, and we use specialist providers to help us do this. How that information is handled is set out in our privacy notice.

2.6  We may ask you at any time during our relationship, not only at the start, to confirm or update the information we hold, to provide documents supporting it, or to explain the source of money paid into your account. This is a regulatory obligation, not a judgement about you. If you do not respond within a reasonable period we may restrict the account under clause 9.

Our right to decline

2.7  We may decline an application, or decline to open a further product for an existing customer, and we do not have to give a reason. In some cases the law or our regulatory obligations prevent us from explaining why. Declining an application is not a statement that you have done anything wrong.

2.8  Your account is open once we tell you it is open and your IBAN appears in the app. Your card is then posted to the address you gave us. Nothing you see during the application creates an account or commits us to opening one.

3. Communications and marketing

3.1  Yusr is a digital bank and we communicate with you electronically. We will contact you through the app, by push notification, by email and by SMS, and we may call you on the number you have registered with us. You agree that we may give you notices, statements, changes to these terms and any other information about your account in these ways, and that a document made available to you in the app is treated as having been given to you on the day it appears there.

3.2  We communicate in Arabic or in English. You can set your preferred language in the app and change it at any time.

3.3  Some messages relate to the operation of your account and cannot be turned off while the account is open. These include one-time passcodes, alerts about a transaction we consider unusual, notifications that a payment has been made or declined, statements, notice of a change to a fee or to these terms, and anything we are required to send you by law or by SAMA.

3.4  By opening a Yusr account you agree to receive service messages relating to your account, and you agree to receive offers, product news and updates from Yusr and its partners by email, SMS and push notification. You may change your marketing preferences at any time in the app under Settings, and any change takes effect within seven days of you making it.

3.5  You must keep your registered mobile number, email address and postal address up to date. We are not responsible for a message that does not reach you, or that reaches somebody else, because the details we hold for you were out of date.

3.6  Calls to and from our contact centre may be recorded, and messages you exchange with us in the app are kept, for training and quality purposes, to help us investigate complaints and disputes, and as a record of instructions you have given us.

3.7  We will never ask you for your full passcode, your card PIN or a one-time passcode, and we will never ask you to move money to a "safe account". Any message that does is not from us.

4. Using your account and card

Payments

4.1  You can receive money into your account by SARIE transfer from any bank in the Kingdom and instantly from other Yusr customers. You can send money by SARIE transfer, by instant transfer to another Yusr customer, by standing order, and by paying with your card.

4.2  It is your responsibility to check the details of a payment before you confirm it. Transfers in the Kingdom are made on the account number or IBAN you give us. If you give us the wrong details, the payment may reach the wrong person, and while we will make reasonable efforts to help recover it we cannot guarantee that we will.

4.3  Once you have authorised a payment it is generally final and cannot be cancelled. You authorise a payment by confirming it in the app with your passcode or biometric, by entering your card PIN, by tapping your card or phone at a terminal, or by entering a one-time passcode for an online purchase.

Your card

4.4  The Yusr Card is a debit card issued on the mada network, with international scheme rails so that it also works for online purchases and outside the Kingdom. The card remains our property. You must sign it when it arrives, keep the PIN secret, and return or destroy it if we ask you to.

4.5  Payments are taken from your available balance. We do not offer an overdraft, and a payment that would take you below zero will be declined. Where a merchant places a hold on funds — a hotel or a car hire company, for example — that amount is unavailable to you until the hold is released.

4.6  A payment made in a currency other than Saudi Riyal is converted at the card scheme's rate applying on the day the transaction is settled, which may not be the day you made it, and the foreign currency fee in clause 5 is then applied to the converted amount.

4.7  Your account and card are subject to limits. Default limits are shown in the app and you can move them within the maximums we set. We may reduce a limit, or refuse a transaction, where we need to for security reasons or to meet a legal or regulatory requirement.

Statements and disputes

4.8  A statement is made available in the app each month. Please check it. Tell us as soon as you can, and in any event within 30 days of a transaction appearing, if you do not recognise it or believe it is wrong.

4.9  Where a card payment is disputed we may be able to raise a chargeback through the card scheme. Scheme rules set the time limits and the outcome, and a chargeback is not a guarantee of a refund. Disputes about the quality of goods or services are between you and the merchant, though we will help where the scheme rules allow it.

5. Fees and charges

5.1  There is no monthly fee for a Yusr account, no minimum balance, no dormancy fee and no charge for closing the account. The charges that do apply are set out below and in full in the app.

5.2  Amounts shown include value added tax where it applies.

5.3  We take a fee from your account on the day the charge arises. If there is not enough in the account we may take it from the next money paid in. We will not charge you a fee for an unpaid fee.

5.4  We will give you at least 30 days' notice in the app and by email before we introduce a new charge or increase an existing one. If you do not want to accept the change you may close your account before it takes effect, at no cost. Clause 10 explains how changes work more generally.

5.5  Other organisations may make their own charges that are nothing to do with us — an ATM operator outside the Kingdom, for example, or a merchant offering to convert a payment into Saudi Riyal at its own rate. Those charges are shown to you before you confirm the transaction and are not ours.

6. Yusr Later

6.1  Yusr Later is a deferred payment product provided in partnership with Taysir Finance Company, a separate finance company licensed by the Saudi Central Bank. It is not provided by Yusr Bank, and these terms do not govern it.

6.2  Each payment plan is a separate agreement between you and Taysir Finance Company, on Taysir's own terms. Those terms are shown to you in full in the app before you confirm your first plan, and you should read them then. Where they and these terms differ in relation to a plan, Taysir's terms apply.

6.3  Eligibility for Yusr Later is decided by Taysir Finance Company, which carries out its own assessment. That assessment includes a check of your credit record with the Saudi Credit Bureau (SIMAH) and takes account of how you have run your Yusr account. Approval is not guaranteed, and being eligible once does not mean you will be eligible again.

6.4  Repayments are collected from your Yusr Current account on the dates shown in your plan. You must keep enough money available on those dates. A missed repayment may be reported to the credit bureau by Taysir Finance Company and may affect finance you apply for in future.

6.5  A complaint about a payment plan is for Taysir Finance Company to answer. If you raise it with us first we will pass it on and tell you we have done so. A complaint about how the feature behaves inside the Yusr app is ours, and clause 11 applies to it.

Full details of the product are on the Yusr Later page.

7. Your responsibilities and keeping your account secure

7.1  You must keep your app passcode, card PIN and one-time passcodes secret. Do not write them down where they can be recognised for what they are, do not reuse them elsewhere, and do not share them with anyone, including family members and anyone claiming to be from Yusr, from SAMA or from the police.

7.2  Only your own fingerprint or face may be registered on a device you use to access the Yusr app. If someone else's biometrics are enrolled on that device, they can reach your account, and payments made that way count as authorised by you.

7.3  You must take reasonable care of the device you bank on: keep a screen lock on it, keep the operating system and the Yusr app updated, and install the app only from the official Apple App Store or Google Play. We may refuse to run the app on a device that has been rooted, jailbroken or otherwise modified in a way that weakens its security.

7.4  Tell us immediately if your card is lost or stolen, if your registered phone is lost or stolen, if you think someone else knows your passcode or PIN, or if you see a transaction you did not make. Freeze the card in the app and call 920 00 4444, at any hour. Acting quickly is the single biggest factor in how much can be recovered.

7.5  You are responsible for transactions you authorise, including transactions authorised by someone to whom you gave your credentials or your device, whether or not you meant them to use it that way.

7.6  You must not use your account for anything unlawful, for any activity prohibited by SAMA, on behalf of another person, or for business purposes without our agreement. You must not allow anyone else to use your account, and you must not sell, rent or lend your account, card or credentials to anyone.

8. Our liability

8.1  We will use reasonable skill and care in providing your account. Where we get something wrong, we will put it right: we will refund an unauthorised payment and any fees or charges you paid as a direct result, and we will correct any interest or profit that was wrongly applied.

8.2  We are not liable for losses we could not reasonably have expected when you made the payment, for loss of profit or business opportunity, or for losses caused by something outside our reasonable control — including a failure of power or telecommunications, an outage at another bank or at a card scheme, industrial action, or an instruction from a regulator or a court.

8.3  We are not liable for the goods or services you buy with your card, or for a merchant's refusal to accept it. Clause 4.9 explains what we can do about a disputed card payment.

8.4  We will not refund a payment where you acted fraudulently, or where you failed with gross negligence to keep your credentials or your device secure as required by clause 7 — for example by giving your one-time passcode to someone who called you.

8.5  The app and the website may occasionally be unavailable because of maintenance or a fault. We will keep planned work as short as we can and give notice of it where we reasonably can. Current and past availability is published on our system status page.

8.6  Nothing in these terms limits or excludes any liability that cannot be limited or excluded under the laws of the Kingdom of Saudi Arabia, and nothing in them affects your rights under the consumer protection rules issued by SAMA.

9. Suspending or closing your account

Closing it yourself

9.1  You can close your account at any time, in the app or by contacting us, without giving a reason and without charge. Before we can close it you will need to cancel any standing orders, settle anything you owe, and give us details of an account in your own name for the remaining balance.

When we can suspend or restrict

9.2  We may refuse a transaction, or suspend or restrict your account or card, where we reasonably suspect fraud or unauthorised use, where we need to comply with a law, a court order or an instruction from SAMA, where you have broken these terms in a serious way, where information you gave us appears to be false, where you have not responded to a request under clause 2.6, or where the account has been dormant.

9.3  We will tell you before we do this, or immediately afterwards, and explain what you need to do — unless the law prevents us from telling you, or doing so would compromise our security or a fraud investigation.

When we can close

9.4  We may close your account by giving you 60 days' notice. We may close it immediately where we reasonably believe it is being used for fraud or an unlawful purpose, where you are no longer eligible under clause 2.1, where you have behaved abusively towards our people, or where we are required to do so by law or by SAMA.

9.5  Closing the account does not affect anything that arose before it closed, including fees, disputed transactions, and any Yusr Later plan you have with Taysir Finance Company, which continues on its own terms until it is repaid.

9.6  After your account closes we keep records of it for the period we are required to keep them. Our privacy notice explains what we keep and for how long.

9.7  An account with no customer-initiated activity is treated as dormant in line with SAMA's rules. We will contact you before that happens, and a dormant account still belongs to you.

10. Changes to these terms

10.1  We may change these terms. We will only do so for a good reason, such as a change in the law or in SAMA's rules, a change to a product or the introduction of a new one, an improvement to security, a change in the cost of providing the account, or to make the wording clearer without changing its meaning.

10.2  Where a change is to your disadvantage we will give you at least 30 days' notice in the app and by email before it takes effect. Where a change is in your favour, corrects an obvious error, or is needed immediately to protect the security of your account, we may make it straight away and tell you afterwards.

10.3  If you do not accept a change, you may close your account under clause 9.1 before it takes effect, free of charge. If you keep using the account after that date you are treated as having accepted it.

10.4  Each version carries a version number and an effective date at the top of this page. The current version is always the one published here and in the app, and we keep the two identical.

11. Complaints and how to escalate to the Saudi Central Bank

11.1  If something has gone wrong, tell us. You can raise a complaint in the app, on 920 00 4444, by email to hello@yusr.com.sa, or with the form on our contact page. There is no charge for making a complaint and it will not affect how we treat you.

11.2  We will acknowledge your complaint within 2 business days, in writing, with a reference number and the name of the person handling it.

11.3  We aim to give you a final written response within 10 business days. If we need longer, we will tell you why and give you a new date.

11.4  If you are not satisfied with our final response, or if we miss the date we gave you, you can take the matter to the Saudi Central Bank through Sama Cares, on the Sama Cares app or at sama.gov.sa. Quote your Yusr complaint reference so that SAMA can match your case to ours.

11.5  Complaints about a Yusr Later payment plan are dealt with by Taysir Finance Company under clause 6.5.

12. Governing law

12.1  This agreement, and any dispute arising out of it, is governed by the laws of the Kingdom of Saudi Arabia.

12.2  Any dispute that we cannot settle between us is subject to the jurisdiction of the competent judicial committees in the Kingdom of Saudi Arabia, including the Committee for the Resolution of Banking Disputes and Violations.

12.3  These terms are issued in Arabic and in English. If there is any inconsistency between the two, the Arabic text prevails.

12.4  If any part of these terms is found to be invalid or unenforceable, the rest of them continue to apply.

12.5  We may transfer our rights and obligations under this agreement to another entity licensed by the Saudi Central Bank, on 60 days' notice to you, provided your rights are not reduced by the transfer. You may not transfer yours to anyone.

12.6  A delay by us in enforcing a term is not a waiver of it, and does not prevent us from enforcing it later.