Key Facts Statement (KFS) for General Purpose Reloadable Prepaid Card
Product Overview
Description
This product is designed for the general public residing in the UAE, enabling them to have access to a general purpose reloadable prepaid card.
Eligibility
Individuals who are UAE citizens/ residents (non-residents from the public are not eligible).
Currency
Arab Emirates Dirhams (AED).
Key Features & Benefits
- Digital onboarding through a mobile app or web portal
- Loading of funds via cardholder’s own UAE bank account or own UAE issued Debit or Credit card
- Activities that are allowed for the GRP card: POS transactions, e-commerce, and ATM withdrawals
- Physical Card Delivery: Cards delivered by registered mail service for convenience
- Card activation and management via a mobile app or through web portal
Product Limits*
Maximum Load (Daily/Yearly)
AED 10,000 / 220,000
Maximum Card Balance
AED 37,000
Transfer to other cardholders (Daily/Daily Count/Weekly/Monthly)
AED 5,000 / 3 / 5,000 / 10,000
Maximum Transaction Limit (Single/Daily/Weekly/Monthly)
AED 10,000 / 10,000 / 50,000 / 100,000
Maximum Withdrawal Limit (Single/Daily/Weekly/Monthly)
AED 10,000 / 10,000 / 25,000 / 25,000
Maximum Daily Number of Transactions/Withdrawals
10 / 5
Fees & Charges*
Card Issuing Fee
Up to $30
Annual Card Fees
Up to $30
Transaction Processing Fees
Up to - 2.5% of Transaction Amount
FX Markup
Between 1%- 3% of Transaction Amount
ATM Withdrawal Fees
Up to $10
Balance Inquiry Fees
Up to $1
Monthly Account Fees
Up to $1 per Month
*This KFS provides key indicative Fees & Charges (inclusive VAT). For full and updated charges please refer to www.nymcard.com.
Additional Information
- Nymcard reserves the right to amend the Special Features and General Terms and Conditions for the GPR product (including any relevant applications and documents) by notifying you in accordance with applicable law.
- The cooling-off period allows you to cancel the product within five (5) business days of consenting to the T&Cs and this KFS unless you waive this right. To cancel within this period, you must notify Nymcard by contacting our Contact customer service at 00971600505005.
- Nymcard may debit the Customer’s prepaid card with any charges, expenses, or commission payable against the services rendered in accordance with the approved and announced charges and fees, as notified to the Customer from time to time.
- There may be circumstances in which you have to pay other fees. You may visit this link to view these other fees: https://www.nymcard.com/en/schedule-of-fees-and-charges.
- You can contact Nymcard for any enquires, assistance or complaints by visiting its website: https://www.nymcard.com/en/help-and-support/contact-us
Important Legal Disclaimers & Risk Warnings
- Regulatory Compliance: This product is issued under license from the Central Bank of the UAE (CBUAE) in accordance with the Retail Payment Services and Card Schemes Regulation. All operations are subject to UAE banking and financial services regulations.
- Transaction Monitoring: All transactions are subject to anti-money laundering (AML) monitoring, fraud detection systems, and suspicious activity reporting requirements. Unusual transaction patterns may result in card restrictions or account closure.
- Usage Restrictions: Cards are intended for legitimate individual use only. Use for illegal activities, money laundering, or activities prohibited under UAE law is strictly forbidden and may result in immediate account closure and legal action.
- Card Expiry & Replacement: Cards have a 3-year validity period. Replacement cards may be subject to additional fees. Unused balances on expired cards will be returned to the cardholder, subject to applicable terms and conditions
- Change to the Program (GPR Card): Terms, conditions, limits, and features are subject to change due to regulatory requirements, risk management decisions, or business policy updates. Cardholders will be notified of material changes as required by law.
Customer Acknowledgement and Signature
By signing below, I acknowledge that:
Customer Name: _________________________________
Customer Signature: _________________________
Date: _________________________
This Key Facts Statement provides an overview of the main features of the General Purpose Reloadable Prepaid Card. For complete terms and conditions, please refer to the full product documentation available in English and Arabic. This document is issued in compliance with CBUAE regulations and is subject to periodic review and updates.
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