Effective date: 01/03/2023
These terms and conditions (“Card Terms”) govern your use of cards issued by Digital Financial Services LLC (“e& Money”) and linked to your e& Money Account. e& Money is a limited liability company established under the laws of the United Arab Emirates (“UAE”) under registration number 815764 Our registered office is at 27th Floor, Emirates Telecommunications Group Company building (Etisalat). Al Kifaf Community, Bur Dubai, Dubai.
e& Money is licensed by the UAE Central Bank to provide Stored Value Facilities..
These Card Terms are supplemental to and should be read in conjunction with the General Terms and Conditions between you and e& Money which govern your use of your e&
Money Account and the e& Money App (“General Terms”). The General Terms are hereby incorporated into these Card Terms and form part of this agreement. Terms used but not defined shall have the meaning given to them in the General Terms. You can access the General Terms https://www.eandmoney.com/en/aboutus/terms-and-conditions.html
1. e& Money Card
We may, at our discretion, issue you with one or more virtual or physical cards (“e& Money Cards”) which are linked to your e& Money Account as a Payment Method.
You can use your card to purchase goods and services online and in person, wherever a merchant accepts MasterCard payment cards. You can also use your physical e& Money Card to withdraw cash or check your balance at participating ATMs or at other locations we may notify you of from time to time.
If you make a purchase or withdrawal in a different currency to the currency of your Account, we will apply the prevailing currency conversion rate that applies at the time of the transaction.
You will be required to authorise payments using the Security PIN Code or other methods as set out in the General Terms or as notified to you from time to time. Where contactless payments are available, you may also be permitted to authorize a transaction by touching the payment terminal with the Card. We can’t cancel or stop a transaction once it has been authorised.
Please note, an e& Money Card is not a credit card. You can therefore only make purchases up to the total amount held in your Account. You are solely responsible for ensuring that sufficient funds are available for any transaction. If, for any reason whatsoever, an intended transaction causes your Account to be debited in excess of the available funds, you are responsible for any shortfall on the Card.
2. Transaction Limits
We have the right to impose a limit on the number or value of transactions that you can make using your e& Money Card, alongside the general limits we prescribe regarding your Account in the General Terms. Currently, the limits applicable to your e& Money Card are as follows:
- The maximum value of any single transaction using your e& Money Card is AED 10000
- Your maximum daily spend using your e& Money Card is AED 25000.
- The maximum withdrawal amount at an ATM using your e& Money Card is AED 10000
3. Refunds
When you purchase something from a merchant or third party seller using your e& Money Card and the transaction is ultimately refunded, the payment will typically be refunded to the e& Money Card you used for the transaction. Refunds to the e& Money Card linked to your Account will generally be processed within fourteen (14) business days, however in certain instances the refund may take up to thirty (30) business days.
4. Fees
There is no charge for issuing your e& Money Card, however you may be charged a fee for using certain of our Services. Information on fees is set out in our Schedule of Charges which is available here.
We reserve the right to amend our charges at any time by giving you at least sixty (60) calendar days’ notice.
5. Your obligations
You agree and acknowledge that:
- Our record of any Transaction shall be final and binding. You will not be provided with a printed statement, and can check your available balance and transaction history via the e& Money App;
- The available balance in the Card may be different from the balance amount shown in the App, due to pending Transactions or other blocked amounts (being amounts transacted but not processed) relevant to the Card;
- You will comply with all applicable laws and regulations with respect to the Card in the UAE and in the country of use;
- The Card may not operate in some countries and may not be accepted at some merchant locations which are not in compliance with our internal policies;
- You will not use the Card to access or purchase goods from adult or gambling locations or websites, or for any other unlawful activity or other restricted merchants as applicable.
We reserve the right to suspend the Card, terminate this Agreement and exercise any other remedies available to us due to your failure to comply with the above or if we suspect any fraudulent activity in accordance with the General Terms.
6. Changes to these Card Terms
We may make changes to these Card Terms or the Fees relating to your e& Money Card in our sole discretion, by providing you with 60 days’ notice.