Terms and Conditions for Issuing and Using the Virtual Internet Card – Cash Card
Terms and Conditions for Issuing Electronic Cards from Al-Qasimi Bank
The customer agrees that, upon issuance of the card and after reviewing this agreement and the original card issuance application, they shall be bound by the terms and provisions below:
- Card Issuance: This card is issued to bank customers or non-customers aged 18 years and above, after fulfilling all required data and conditions for issuing the card.
- Card Ownership: The card remains the property of Al-Qasimi Islamic Microfinance Bank, and the bank has the right to withdraw or cancel it at any time without prior notice to the customer. The bank also has the right to recover the card immediately upon request, and it is not transferable to another person.
- PIN: The PIN is the customer's personal identification number, issued to the customer by the bank, and the customer bears full responsibility for keeping it secure and not disclosing it to any other person.
- Transaction Limits: Transactions made using the card are subject to the limits determined by the bank or the Central Bank of Yemen.
- Lost Card: If the card is lost, the customer undertakes to notify the bank immediately in writing, and the customer bears responsibility for any transactions made using the card before notifying the bank of its loss.
- Bank Records: If there is a discrepancy between the deposit amounts for using the card according to the cardholder's declaration and what the bank's records show, the bank's records shall prevail and be binding on the customer.
- Additional Card: If the customer requests an additional card, the bank issues it under the customer's full responsibility.
- Currency Difference: If the customer performs a transaction in a currency different from the card's currency, the bank has the right to convert it to the card's original currency at the exchange rate determined by the bank on the transaction date.
- Transaction Liability: The bank debits the card account for any amounts withdrawn or any purchase amounts resulting from using the card, and any commissions or fees arising from that. In all cases these transactions remain final and binding on the customer, and the bank is not liable for these transactions after their execution.
- Dispute Resolution: Any dispute or disagreement that may arise regarding this agreement shall be settled amicably, and if such agreement or amicable settlement cannot be reached, the dispute shall be referred to the Yemeni Center for Conciliation and Arbitration, and the ruling issued by it shall not contradict the provisions of Islamic Sharia.
- Changes to Terms and Fees: The bank reserves the right to determine the number and amounts of transactions, change card and transaction fees, or add to the stated terms at any time without prior notice to the customer. The bank also has the right to charge such fees to the customer's account.
- Transaction Cancellation: The customer or cardholder has no right to cancel, stop, or invalidate a transaction made with the card once it has been approved and deemed received by the bank. The customer bears responsibility for all card transactions made by the customer or the cardholder regardless of the method of such approval. Amounts of transactions and commissions made via the card are deducted directly from the card balance.
- Reload Responsibility: If the customer reloads the card in cash or using any transfer method made available by the bank, the customer remains solely responsible for providing the correct card number or customer reference number based on which transfers and payments will be made. Accordingly, the bank is not liable for any error in transferring amounts resulting from an error or the inaccuracy of the information provided by the customer.
- Fees and Commissions: The fees and commissions on this card are subject to the fees determined by the bank, and the bank has the right to change them at any time it deems appropriate without the customer having the right to object.
- Spending Restrictions and Taxes: The cardholder undertakes to comply with spending restrictions and taxes that may be imposed as a result of using the card, and is responsible for them. The cardholder also authorizes the bank to record all claims and expenses that may be submitted to the bank as a result of the imposition of such regulations and laws by the government regarding any transaction on the card.
- Monthly Statement: If the customer requests a monthly statement, it is sent by email to the cardholder customer. The responsibility for reviewing the statement rests with the cardholder. If there is any objection, the customer must submit a written objection within 15 days from the statement date. If the cardholder does not notify the bank of any objection, the statement is considered final and effective.
- Merchant Refusal: The bank is not liable for any refusal by merchants or shops to accept the card, and the bank has no obligation to the cardholder in that regard.
- Change of Address: The cardholder must notify the bank of any change in their address or the instructions for sending statements and other notifications. The latest address or written instructions given to the bank is considered the cardholder's approved address for sending statements and other notifications.
- Retention of Documents: The bank has the right to retain the documents attached to the application for any period it deems appropriate, and the customer may not request their return even if the customer returns the card to the bank.
- Termination of Agreement: The customer has the right to terminate the agreement at any time by notifying the bank in writing and returning the cards issued to them. The customer is liable for any obligations or transactions made using the card on a date preceding the date the cards were delivered to the bank.
- Prohibited Use: The card may not be used to purchase goods or services prohibited by Islamic Sharia, nor for fraud, money laundering, or subscriptions to unethical websites. In the event of violation, the bank has the right to cancel the card without recourse to the customer.
I hereby agree and commit to the terms and provisions stated above, which govern the issuance and use of the Virtual Internet Card from Al-Qasimi Islamic Microfinance Bank, and the obligations arising from them. Accordingly, I have signed the card application and the terms and conditions agreement for this type of card.
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