RT Bank

Welcome

1. Acceptance of Terms

By accessing or using RT Bank services, you agree to be bound by these Terms and Conditions. If you do not agree to these terms, please do not use our services.

These terms constitute a legally binding agreement between you and Region Trade Bank. Your continued use of our services indicates your acceptance of any updates or modifications to these terms.

2. Account Opening

2.1 Eligibility

To open an account with RT Bank, you must:

  • Be at least 18 years of age
  • Be a resident of Iraq or hold valid Iraqi documentation
  • Provide accurate and complete information
  • Have the legal capacity to enter into binding contracts
  • Not be listed on any sanctions or restricted parties lists

2.2 Account Types

We offer various account types including savings accounts, current accounts, and business accounts. Each account type has specific terms, fees, and features. Please refer to our product documentation for detailed information about each account type.

2.3 Documentation Requirements

You must provide the following documents to open an account:

  • Valid government-issued identification
  • Proof of address (utility bill, lease agreement, etc.)
  • Additional documentation as required by Iraqi banking regulations

3. Account Usage

3.1 Authorized Use

You agree to use your account only for lawful purposes and in accordance with these terms. Prohibited activities include:

  • Fraudulent transactions
  • Money laundering
  • Financing terrorism
  • Any illegal activities under Iraqi law
  • Violating international sanctions
  • Using the account for gambling or illegal gambling activities

3.2 Security

You are responsible for:

  • Maintaining the confidentiality of your account credentials
  • All activities that occur under your account
  • Notifying us immediately of any unauthorized access
  • Using strong passwords and enabling multi-factor authentication
  • Keeping your contact information up to date

3.3 Account Access

You can access your account through:

  • Our mobile banking application
  • Internet banking portal
  • ATMs
  • Branch locations
  • Customer service hotline

4. Fees and Charges

Account fees, transaction charges, and service fees are outlined in our Fee Schedule, which is available:

  • On our website at rtb.iq/fees
  • At any branch location
  • Upon request from customer service

We reserve the right to modify fees with 30 days' advance notice. Fee changes will be communicated via email, SMS, or in-app notification.

5. Transactions

5.1 Processing Times

Transactions are processed according to the following schedule:

  • Same-day processing for transactions initiated before 2:00 PM local time on business days
  • Next business day for transactions after cut-off time
  • International transfers may take 3-5 business days
  • Instant transfers available for participating banks

5.2 Transaction Limits

Daily and monthly transaction limits apply and vary by account type:

  • Standard accounts: Up to 5,000,000 IQD per day
  • Premium accounts: Up to 10,000,000 IQD per day
  • Business accounts: Custom limits based on business needs

Contact customer service for specific limits on your account or to request limit increases.

5.3 Transaction Disputes

If you believe a transaction is unauthorized or incorrect, you must notify us within 60 days of the transaction date. We will investigate and resolve the dispute according to our dispute resolution procedures.

6. Mobile and Online Banking

When using our digital services, you agree to:

  • Use secure internet connections
  • Keep your mobile device and software updated
  • Not share your login credentials with anyone
  • Log out after each session
  • Install security software on your devices
  • Report any suspicious activity immediately

6.1 Digital Security

We employ industry-standard security measures, but you are responsible for:

  • Protecting your devices from malware and viruses
  • Not accessing your account from public or shared computers
  • Verifying the authenticity of any communications claiming to be from RT Bank

7. Account Closure

7.1 Closure by Customer

You may close your account at any time by:

  • Visiting any branch location
  • Contacting customer service
  • Submitting a written closure request

Outstanding balances and fees must be settled before closure. Any automatic payments or direct deposits should be redirected before closing your account.

7.2 Closure by Bank

We reserve the right to close your account if:

  • The account is inactive for 12 consecutive months
  • There is suspicious or illegal activity
  • You violate these Terms and Conditions
  • Required by law or regulatory authorities
  • You provide false or misleading information
  • You engage in abusive behavior toward our staff

We will provide 30 days' notice before closing your account, except in cases of suspected fraud or illegal activity.

8. Liability

8.1 Bank's Liability

RT Bank is liable for losses directly caused by our negligence or breach of these terms. We are not liable for:

  • Indirect or consequential damages
  • Losses due to circumstances beyond our control (force majeure)
  • Unauthorized access resulting from your failure to maintain security
  • Service interruptions due to maintenance or technical issues
  • Losses resulting from your violation of these terms

8.2 Customer's Liability

You are liable for all transactions made using your account credentials, whether authorized by you or not, until you notify us of unauthorized access. You agree to reimburse us for any losses we incur due to your violation of these terms.

9. Dispute Resolution

Any disputes arising from these terms will be resolved through:

  1. Direct Negotiation: Contact our customer service team to resolve the issue
  2. Internal Escalation: Request escalation to a supervisor or manager
  3. Mediation: Engage in mediation if direct negotiation fails
  4. Arbitration: Submit to binding arbitration in accordance with Iraqi Commercial Law
  5. Legal Action: File a complaint with Iraqi courts as a final resort

You agree to attempt resolution through the above steps before initiating legal proceedings.

10. Privacy

Your use of our services is also governed by our Privacy Policy. Please review it to understand how we collect, use, and protect your information. The Privacy Policy is available at rtb.iq/legal/privacy.

11. Changes to Terms

We may update these Terms and Conditions at any time. Significant changes will be communicated via:

  • Email notification to your registered email address
  • SMS notification
  • Notice on our website and mobile app
  • In-branch announcements

You will have 30 days to review the changes. Continued use of our services after this period constitutes acceptance of the new terms. If you do not agree to the changes, you may close your account.

12. Regulatory Compliance

RT Bank is regulated by:

  • Central Bank of Iraq
  • Iraqi Banking Regulatory Authority
  • Anti-Money Laundering Commission

We comply with all applicable Iraqi banking laws and international banking standards.

13. Contact Information

For questions about these Terms and Conditions:

  • Email: legal@rtb.iq
  • Phone: +964 750 123 4567
  • Address: RT Bank Headquarters, Baghdad, Iraq
  • Customer Service: Available 24/7 via phone and online chat

Last Updated: January 2025

Effective Date: January 1, 2025