BLC Bank

Your Rights & Duties

According to Banque du Liban basic Circular No.134 dated 12/2/2015, BLC Bank has the pleasure to offer the best services at the best conditions based on a total transparency to ensure a good and lasting relationship.
 Abiding by this transparency, our Bank would like to inform you about your rights and duties mentioned here below and place a copy of this list at your disposal.

First: Customer’s Rights

• To be aware of the terms, conditions, and details of the product or service, and to request ample explanations to be sure that he/she has understood them and can abide by them.
• To obtain from the concerned employee a clear, ample and simplified explanation about the financial services and products with different risk levels.
• To obtain from the concerned employee a professional and clear answer to any question concerning an ambiguous clause or condition.
• To request the use of Arabic in any document, correspondence or transaction with the Bank.
• To request to read and obtain in advance a copy of each document and text referred to in any contract to be signed with the Bank.
• To obtain and retain a copy of the contracts and documents signed by the customer, without bearing any additional cost.
• To request the Bank to determine the actual cost of the product or service, including the actual insurance cost and the computational method of the lending or deposit interest rate.
• To choose freely an insurance company among, at least, five companies that are accepted by the Bank or financial institution and mentioned in a written list, in case obtaining the product or service is contingent upon the submission of an insurance policy to the Bank.
• To obtain any product or service, provided it is suitable with the customer’s request, profile and perception of the likely financial risks associated to the product or service.
• To obtain, for each product or service, a periodic detailed statement of account.
• Refuse to sign a blank or incomplete Form and make sure all the required fields and figures in the Form to be signed by the customer are correct and complete.
• To submit a claim about any service or product, and request from the Bank an explanation on the claim submission procedure, the time needed to be notified of the claim outcome limited to 15 days renewable once for the same period and the mechanism applied to submit the claim to other authorities whenever is not convinced of the claim outcome.

Second: Customer’s Duties

• Provide true, complete and accurate information when filling out any Form provided by the Bank and refrain from providing any false information.
• Disclose all financial obligations when applying for a product or service, without prejudice to the rights conferred to customers by the Banking Secrecy Law.
• Update the personal information submitted to the Bank on a continuous basis and whenever required to do so.
• Comply with the terms and conditions governing the chosen service or product.
• Promptly notify the Bank of any unknown operation on his/her account.
• Provide the bank with his/her home address, work address, email, ordinary mail, and telephone number, and report any change in this information to enable the Bank or financial institution to contact the concerned customer personally and thus guarantee the privacy of information.
• Sign all the documents related to the new legislation enacted in the United States of America knows as Law “Fatca” (tax laws and regulations)
• Sign the KYC document (Know your Customer) requested by Banque du Liban in order to provide the Bank with all personal information.
• The powers of Attorney he grants to third parties on his own accounts should be clear and accurate, including expressly the kind of the prerogative requested by virtue of this power of attorney.

Third: Instructions to the Customer

• Do not provide any other party, under any circumstances, with any details about your bank account or any other banking or critical personal information.
• Whenever facing financial difficulties preventing you from meeting your obligations or paying your installments in due time, refer to the Bank in order to find out the best option, including the rescheduling of obligations.
• Be careful when granting a proxy to a third party to complete your banking and financial transactions, by clearly determining the powers delegated under this proxy.