Electronic Financial Services Terms & Conditions

These Electronic Financial Services Terms & Conditions (“Terms”) are drafted to govern how financial-related features connected to the myex platform operate and, to the maximum extent permitted by applicable law, to limit and exclude any liability or obligations on myex arising from payments, rewards, transfers, or financial misuse. Use of any financial feature means you agree to these Terms.

1. Purpose

These Terms set out the legal framework for electronic financial services connected with the use of the myex platform, including (without limitation):

• Rewards or incentives related to accepted experiences.
• Transfers or payments initiated through or in connection with myex.
• Any monetary movement recorded or facilitated via the platform’s technical infrastructure.

These Terms are an integral part of myex’s general Terms of Use and Privacy Policy and prevail with respect to any financial or payment-related matters.

2. Definitions

For the purposes of these Terms:

1. “Platform” or “myex”: The myex website, mobile application(s), systems, and any related digital interfaces, owned and operated by the legal entity behind myex in the Kingdom of Saudi Arabia.
2. “Electronic Financial Services”: Any financial or monetary-related functionality provided or supported by the Platform, including rewards, payouts, internal balance records, and transfers executed via or in connection with myex.
3. “User”: Any natural or legal person using the Platform or benefiting from any of its features, whether as a creator, viewer, or recipient of any amount.
4. “Creator” / “Reviewer” / “Experiencer”: A User who may, at myex’s discretion, receive amounts or rewards in connection with accepted experiences.
5. “Payment Methods”: Bank accounts, bank transfers, cards, wallets, or any payment channels that myex may choose to support from time to time.
6. “Access Credentials”: Login details, passwords, one-time codes, email accounts, phone numbers, authentication apps or tools, and any verification mechanism used to access the User’s myex account and trigger actions.
7. “Payment Service Providers”: Banks, gateways, wallet providers, and other licensed intermediaries through which transactions may be processed.
8. “Financial Transaction”: Any payment, transfer, credit, debit, reward, hold, adjustment, or payout associated with a User and processed by or through myex or its Payment Service Providers.
9. “Suspicious Account”: Any payment method or account details that appear, or are reasonably suspected, to be inaccurate, fraudulent, misused, non-matching with the User’s identity, or connected to prohibited or high-risk activity.

3. Scope of Application

1. These Terms apply to all Financial Transactions linked in any way to the Platform.
2. By using any Electronic Financial Service, the User gives full and final consent to be bound by these Terms.
3. myex may amend these Terms at any time. Continued use of any financial feature after publication of an updated version constitutes binding acceptance. myex is not obliged to provide individual or personalized notice, unless mandatory law requires otherwise.

4. Nature of Service & No Obligation to Pay

1. Any rewards, incentives, payouts, or benefits made available through myex are:
   • Purely discretionary, and
   • Subject to myex’s sole and absolute decision.
2. Nothing in these Terms, or on the Platform, shall be interpreted as:
   • A binding promise to pay any fixed amount.
   • A guarantee of eligibility for any User.
   • A commitment to continue any rewards, payout schemes, or financial programs.
3. myex may modify, suspend, limit, or completely discontinue any or all Electronic Financial Services at any time, without any liability or obligation to compensate Users, except to the extent strictly required by mandatory applicable law.

5. Financial Records – No Reporting Obligation

1. The Platform may display to Users certain balance summaries, transaction logs, or reward overviews for convenience only.
2. Such displayed information:
   • Is operational and indicative, not a formal financial statement.
   • May be corrected, updated, or adjusted by myex at any time.
3. myex:
   • Is not obliged to issue account statements, detailed reports, certificates, confirmations, or to respond within any fixed period regarding financial inquiries, unless expressly required by mandatory law.
   • Does not assume any contractual duty to justify or explain each financial decision to the User.

6. User Responsibility for Payment Details

1. The User bears full and exclusive responsibility for:
   • Entering correct, complete, and valid bank or payment details.
   • Ensuring the payment method is lawfully owned or controlled by the User.
2. If the User:
   • Enters wrong or incomplete details,
   • Uses an account belonging to another person or entity,
   • Chooses a Suspicious Account or unrelated account,
   then:
   • All resulting legal and financial consequences are solely the User’s responsibility.
   • Any amounts transferred based on the details provided by the User are deemed correctly executed from myex’s side.
   • myex has no obligation to retrieve funds, reverse transfers, or indemnify the User.

7. Suspicious Accounts & Transaction Freezes

1. myex may, at its sole discretion and without any obligation:
   • Refuse, suspend, delay, or cancel any Financial Transaction if it appears linked to:
     • Suspicious Accounts,
     • Fraud,
     • Identity mismatch,
     • Money laundering or prohibited activities,
     • Regulatory or sanctions concerns.
   • Request additional documentation or identification before proceeding with any payout.
2. myex may hold or freeze affected amounts where required by law or where risk is reasonably suspected, without any liability toward the User for such lawful or risk-based precautions.

8. Access Credentials – User’s Sole Responsibility

1. The User is solely responsible for:
   • Protecting their Access Credentials.
   • Preventing unauthorized access to their myex account.
   • Using secure devices, networks, and channels.
2. Any Financial Transaction carried out using valid Access Credentials or verification steps associated with the User’s account is presumed to be authorized by the User, unless a competent authority or conclusive technical evidence proves a direct and material failure in myex systems.
3. myex is not liable for:
   • Transactions resulting from compromised devices, emails, SIM cards, messaging apps, or accounts of the User.
   • The User’s sharing, negligence, or mishandling of Access Credentials.

9. Cyber Incidents & Maximum Limitation of Liability

1. The User acknowledges that no online system is 100% secure and that cyber risks exist inherently.
2. myex implements security measures it deems appropriate; however, such measures:
   • Do not constitute a guarantee of absolute protection.
   • Do not create additional legal obligations beyond mandatory law.
3. If a cyber incident or breach occurs involving:
   • The User’s device or environment,
   • Third-party networks,
   • Payment Service Providers,
   myex bears no responsibility for any resulting use, loss, or misuse of financial data or funds.
4. Even in the event of an attack or breach targeting myex’s own infrastructure:
   • myex is not liable for any loss or misuse of information or funds, unless and only to the extent:
     • A final judgment by a competent court within the Kingdom of Saudi Arabia conclusively proves that the loss was caused solely and directly by myex’s gross negligence in its own systems, and
     • No other contributing factor (such as User negligence or third-party failure) is involved.
5. In all cases where liability is finally and mandatorily established against myex:
   • Any compensation is strictly limited to the direct amount of the single affected Financial Transaction,
   • With no liability for:
     • Indirect, consequential, special, moral, or punitive damages,
     • Loss of profits, opportunities, or reputation,
     • Any future or aggregated claims.

10. No Guarantee of Rewards, Timing, or Continuity

1. myex does not guarantee:
   • That any User will receive a Reward.
   • The timing or speed of any payout.
   • The availability or operation of any financial feature at all times.
2. Rewards, if any, are ex gratia, discretionary incentives. No right vests in the User until:
   • myex expressly approves and
   • Successfully executes a payout to the payment method designated by the User.
3. Users cannot claim damages or reliance-based compensation for expecting rewards or assuming continuity of any incentive program.

11. Third-Party Providers & No Responsibility

1. Financial Transactions may rely on independent Payment Service Providers.
2. myex is not responsible for:
   • Any downtime, errors, delays, chargebacks, rejections, or restrictions imposed by such providers.
   • Any fees, holds, or compliance checks conducted by banks or payment institutions.
3. Any dispute between the User and a Payment Service Provider, bank, or final beneficiary is separate from myex, and:
   • myex has no duty to intervene,
   • no duty to reimburse,
   • except where a non-waivable statutory obligation expressly applies.

12. Anti-Money Laundering & Fraud Prevention

1. myex may, where applicable:
   • Monitor transaction patterns.
   • Request additional identification or documentation.
   • Suspend, block, or terminate access to Electronic Financial Services if misuse or unlawful activity is suspected.
2. myex may share relevant information with competent authorities where required by law.
3. Such actions do not give rise to any right to compensation against myex by the User.

13. General Limitation of Liability

To the maximum extent permitted by applicable law:

1. All Electronic Financial Services are provided on an “AS IS” and “AS AVAILABLE” basis, without any warranties of any kind.
2. myex, its owners, officers, employees, and agents shall not be liable for:
   • Any indirect, incidental, consequential, special, or punitive damages.
   • Any loss of profit, revenue, data, reputation, or opportunity.
3. If a competent court renders a final, non-appealable judgment imposing liability on myex despite the above:
   • The total aggregate liability toward a particular User shall not exceed the direct nominal value of the specific disputed transaction only, and only to the extent such limitation is not prohibited by mandatory law.

14. Governing Law & Jurisdiction

1. These Terms are governed by and construed in accordance with the laws of the Kingdom of Saudi Arabia.
2. Any dispute arising out of or relating to these Terms or to Electronic Financial Services shall:
   • First be subject to any amicable steps myex may choose (without obligation),
   • Failing that, fall under the exclusive jurisdiction of the competent courts in Riyadh, Saudi Arabia, unless myex expressly agrees in writing to an alternative lawful dispute mechanism.

15. Final Provisions

1. These Terms form part of the legal framework of myex and must be read together with the general Terms of Use and the Privacy Policy.
2. Nothing in these Terms shall be interpreted as creating any additional obligations on myex beyond what is explicitly and clearly stated or required by non-waivable law.
3. No failure or delay by myex in exercising any right shall be deemed a waiver of that right.
4. If any provision is held invalid or unenforceable, the remaining provisions shall remain in full force to the maximum extent permitted.
5. By using any Electronic Financial Services via myex, the User confirms full acceptance of:
   • All disclaimers,
   • All limitations of liability,
   • And the allocation of responsibility primarily to the User, within the boundaries of applicable mandatory law.