Prepaid Cards Key Facts ( Download)
Thank you for applying for Sharjah Islamic Bank Prepaid Card. To ensure transparency regarding the bank offer, we request you to please go through the declaration given below and sign your acceptance for the same. Should you require any further information, please contact our 24-hour Call Centre team on 065999999 or visit our website www.sib.ae
SIB Prepaid Card is a type of card issued by SIB that allows users to load their money onto the card in advance. It functions like a debit card but is not linked to a traditional bank account.
There are specific products under different prepaid card categories suiting the Client’s requirements and further details are as follows:
Type of Prepaid Card Requested:
- Payroll Card
- SIB Digital Card
- Jeans Card
- Sharjah Co-op Card
- Al Sa’da Card
- Sanad Card
- Watani Card
- Tamkeen Card
- Joud Card
- Massarrah Card
- Family Card
Card Offerings and Schedule of Charges
Card Offerings:
SIB Digital Card:
• No minimum balance requirement or monthly charges for cardholders.
• No Annual Fee on the card
• Free access 24/7 to the SIB ATMs and CDMs network.
• Can be used at all ATMs/CDMs, in-store and online.
• Access to Internet Banking and Mobile Banking
• MasterCard® Priceless offers
Jeans Card:
• No minimum balance requirement or monthly charges for cardholders.
• AED 52.50 annual fee on the card.
• Free access 24/7 to the SIB ATMs and CDMs network.
• Can be used at all ATMs/CDMs, in-store and online.
• Easy loading via SIB Online Banking and Mobile Banking
• Mastercard® Priceless offers
Sharjah Co-op Card:
• Co-Branded Prepaid Card
• Exclusive for Sharjah Cooperative Society Shareholders.
• No Annual fee on the card
• One free Supplementary Card
• No minimum balance requirement or monthly charges for cardholders.
• Can be used at all ATMs/CDMs, in-store and online.
• Easy loading via SIB Online Banking and Mobile Banking
• Mastercard® Priceless offers
Al Sa’da Card:
• Co-Branded Prepaid Card
• Exclusive for Sharjah Police members.
• No Annual fee on the card
• No minimum balance requirement or monthly charges for cardholders.
• Can be used at all ATMs/CDMs, in-store and online.
• Easy loading via SIB Online Banking and Mobile Banking
• Mastercard® Priceless offers
Sanad Card*:
• Co-Branded Prepaid Card
• AED 52.50 annual fee on the card.
• Exclusive for Sharjah Social Services Department facilitating banking procedures to those in need of social assistance, shelters as well as home care and protection services.
• Can be used at all ATMs/CDMs, in-store and online.
• Easy loading via SIB Online Banking and Mobile Banking
• Mastercard® Priceless offers
Watani Card*:
• No minimum balance requirement or monthly charges for cardholders.
• AED 52.50 annual fee on the card.
• Free access 24/7 to the SIB ATMs and CDMs network.
• Can be used at all ATMs/CDMs, in-store and online.
• Free Remittance to India and Pakistan
• Access to Online Banking and Mobile Banking
• Mastercard® Priceless offers
Watani Cards are also offered to Sharjah Corrective Department, Sharjah Finance Department, University of Sharjah, AlQasimia University as part of the strategic relationship with them.
Tamkeen Card:
• Co-Branded Prepaid Card
• Exclusive for Sharjah Social Empowerment Foundation (SSEF) members who get financial assistance from SSEF.
• No Annual fee on the card.
• No minimum balance requirement or monthly charges for cardholders.
• Can be used at all ATMs/CDMs, in-store and online.
• Easy loading via SIB Online Banking and Mobile Banking.
• Mastercard® Priceless offers
Joud Card:
• Co-Branded Prepaid Card
• Exclusive for Sharjah Charity International members who get monthly financial assistance from Sharjah Charity International.
• No Annual fee on the card.
• No minimum balance requirement or monthly charges for cardholders.
• Can be used at all ATMs, in-store and online.
• Easy loading via SIB Online Banking and Mobile Banking.
• Mastercard® Priceless offers
Massarrah Card:
• Co-Branded Prepaid Card
• Exclusive for General Directorate of Residency and Foreign Affairs (DRFA) – Sharjah staff members.
• No Annual fee on the card.
• No minimum balance requirement or monthly charges for cardholders.
• Can be used at all ATMs/CDMs, in-store and online.
• Easy loading via SIB Online Banking and Mobile Banking.
• Mastercard® Priceless offers
Family Card:
• Co-Branded Prepaid Card
• Exclusive for Sharjah Sharia court to credit settlements/monthly alimony from court to the concerned person.
• No Annual fee on the card.
• No minimum balance requirement or monthly charges for cardholders.
• Can be used at all ATMs/CDMs, in-store and online.
• Easy loading via SIB Online Banking and Mobile Banking.
• Mastercard® Priceless offers
SIB Payroll Card are provided to organizations and entities for employees who are not eligible for a current account based on the Bank's policy. Employers can load their employees’ monthly wages onto these cards, and employees can access the funds through this card.
Schedule of Charges:
Issuance / Renewal Fee AED 52.50
Card replacement AED 26.25
PIN replacement AED 26.25
Loading fee AED 10.50
Statement printing fee AED 26.25 per month
Copy of purchase slip AED 26.25
UAE switch transactions
Withdrawal AED 2.10
Balance inquiry AED 1.05
GCC switch transactions:
Withdrawal AED 6.30
Balance inquiry AED 3.15
Cash withdrawal outside UAE 1.05% (min AED 31.5)
Administration fee (for non - AED transactions) 2%**
Prepaid Card Daily Limits
Withdrawal AED 10,000
Purchase AED 25,000
Online Purchase AED 25,000
* Issuance / Renewal fee applicable.
**In addition to the standard fee charged by MasterCard Worldwide or
Visa International.
Required Documents:
Payroll Card:
The following eligibility criteria will be applied while evaluating the applicant’s eligibility for a payroll card and prepaid card:
Payroll Card:
1. Minimum age of the consumer to be 18 years
2. Monthly income of the consumer less than AED 3,000
3. Prepaid Card application form
4. Valid Emirates ID (self-attested by customer)
5. Valid Passport
6. Key Fact Statement
7. Customer Consent Form
Prepaid Card:
1. Minimum age of the consumer to be 18 years
2. Prepaid Card application form
3. Valid Emirates ID (self-attested by customer)
4. Valid Passport
5. Key Fact Statement
Key Disclosure & Terms and Conditions applicable on Using Prepaid Cards
• Key Facts Statement contains information about Prepaid and Payroll Prepaid Card products to help the customer compare and select the most appropriate card type for the customer, to know more about the SIB cards offering please visit www.sib.ae.
• SIB prepaid card terms and conditions shall apply which amongst other things that prohibit using SIB Prepaid Card for any non-Shari’a complaint products/services as determined by the Internal Shari’a Supervision Committee (ISSC) of SIB including but not limited to, alcohol, pork products, gambling, tobacco, casinos, bars, etc.
• Card validity is 5 years from date of issuance.
• Card usage will be limited to retail purchases, cash withdrawals, internet transactions or any transactions compliant with Sharia’a principles and permitted by the Bank.
• The Card balance will be debited with the value of each purchase on the transaction date.
• No transaction can be stopped once authorized through any Point of Sale (POS) terminal.
• The Card cannot be used after expiry date.
• The Card must not be used for any illegal purpose.
• The Card will be subject to a maximum and minimum load amount as mentioned in the application form.
• Account balance inquiry can be done through the Bank’s Customer Service.
• In case of any discrepancies in the Card Account, the Cardholder should immediately notify the Bank.
• There is no profit payable by the Bank on the Card balance.
• The Card Applicant must present all necessary documents requested by the Bank in order to process the Card application including, but not limited to, proper identification of the Applicant / Cardholder along with the application form.
• Foreign currency transactions will be converted into AED at the exchange prevailing Spot rate determined on the date of the transaction.
• Customer to ensure to have zero balance on the Prepaid card prior placing the card cancellation request.
• The Card usage will be subject to the Card validity / expiry date.
• The Applicant / Cardholder may request the termination of the relationship in writing before the Card expiry, the balance will be returned to the person who is submitting the termination request. In case the Cardholder is below the age of 18 years and intends to terminate the relationship, a request from the Applicant or the Cardholder’s guardian is a must and in this case the balance will be returned to the Applicant or the guardian. The Card’s balance can be collected from any Branch.
• The Card should be handed over to the Bank in case of termination.
• The bank may request the return, cancellation, and / or end the agreement of the Card if:
1. Any of the terms and conditions governing the Card is violated by the Applicant / Cardholder.
2. The Card is misused.
3. False information was given to the Bank at the time of applying for the Card.
• The Bank reserves the rights to terminate this agreement in any of the mentioned cases and without giving prior notice and the Bank will refund any balance on the Card Account at the time of termination.
• The Bank reserves the rights to change / adjust / cancel any of the terms and conditions governing the relationship of the Card product with prior notice.
• This Card is the property of the Bank and the Bank may request the Applicant / Cardholder to return it.
• The Card is a prepaid card and not a credit card and the usage is subject to the amount pre-loaded. The Card can only be used in case of credit balance and up to its credit balance amount
• The Card will be activated and ready for use after the Applicant / Cardholder calls the Bank / Call Centre or through SIB Digital App or SIB ATM for activation.
Sharia Structure
This type of card, which does not require an account to be opened, is considered as a transfer of right/debt (Hawalat al-Haqq/al-dain) where the cardholder is the transferor, the merchant (acceptor of the card) is the transferee, and the bank is the payer (it is called here a restricted transfer).
Your Obligations to control fraud and action to be taken in case you suspect any fraud
• Always keep your card and transactions details safe and never disclose card details (including includes username, passwords, OTP for online transactions) to any third party.
• Beware of promotions with large prizes or discounts and contact the Bank for reporting or clarifying any doubt.
• In case you receive any SMS of transaction that you have not made it yourself, please block the card immediately via our online or mobile banking application or contact our call center. Moreover, you would need to fill in a dispute form at our branch to allow us to investigate from our side.
• If the Card is lost or stolen, the Applicant / Cardholder must immediately notify the Bank.
• Lost or stolen Card, if found, must not be used and must be returned to the Bank.
• Lost or stolen Card can be replaced subject to the Applicant / Cardholder request and the replacement Card will be subject to charges in cash or deducted from the Card balance. The replaced Card will be sent to the address of the Cardholder as per the Bank’s records.
• Any transaction that has occurred after the Card was lost or stolen and before the Applicant / Cardholder has reported the card lost or stolen, will be the Applicant / Cardholder’s responsibility
Additional Information
• The Bank will not in any way be liable for any loss(unless caused by the negligence and willful misconduct of the bank due to any of the following:
1. The information provided by the Applicant / Cardholder are proved to be incorrect / inaccurate.
2. Any system failure or any failure due to events out of the Bank’s control.
3. Refusal to honor or accept the Card at any time by any Point of Sale, merchant, ATM, bank, etc.
4. Any direct or indirect losses resulting from the usage of the Card.
5. The goods or services purchased by the Cardholder using the Card.
6. Loss or theft of the Card
• Bank may from time to time, and at its sole discretion, change or amend any of the Terms and Conditions pertaining to this product. Such changes will be communicated to you with a 60-day prior notice.
• Please always keep your PIN Safe to avoid any misuse or fraudulent actions by others.
• In the event of failure to meet the product terms and conditions before and during your relationship, there will be consequences which may lead to restriction, blockage or closure of your account.
• In the event of stolen or lost Prepaid Card, the Customer shall immediately notify the Bank to block his/her Prepaid Card access. However, emergency line on the IVR for blocked Cards is still accessible.
• The Customer understands and agrees that the Bank will not be liable for any misuse by another person in such an event and for failure of the Customer to inform the Bank to block Prepaid Card access.
Warning:
• The Bank may block Prepaid cards and close your account if conduct is found to unsatisfactory the Bank’s policies and applicable regulations.
• In the event of failure to meet Bank’s terms and conditions during your relationship with Bank, there will be consequences, which may include restriction, blockage, or closure of your prepaid card facility.
• Cooling-off period Clause: In reference to my prepaid card application submitted to Sharjah Islamic Bank , I acknowledge and choose to waive my right of availing Cooling-off period of maximum of 5 days.
• I understand and acknowledge that by choosing to waive my cooling-off period, the immediate issuance of the prepaid card will be initiated, and I will be bound by the applicable terms and conditions.
Key Requirements, Limitations, Obligations and Risks
For complete list of Prepaid Cards, their related Schedule of Charges and current detailed terms and Conditions, please visit www.sib.ae
Promotional Communications:
I agree to receive promotional communication for product marketing:
Calls: Yes No
SMS: Yes No
Email: Yes No
How to File a Complaint:
• Any SIB branch
• If assigned to your bank account, your dedicated relationship manager
• Phone Banking: +97165999999
• SIB Website
• Online and Mobile Banking
• By Post: P.O.Box 4 Sharjah UAE
Application processing and Approval:
I agree that:
• I have read and understood the above information for the selected Prepaid Card including the product details, Product features, Schedule of charges, terms & conditions and documentation requirements.
• The information and documents, enclosed with the application form are true and correct and will become part of the banks record and will not be returned in case of rejecting the application.
• Sharjah Islamic Bank, UAE is entitled, at its sole discretion, to approve or reject the Card application.
• Once the application is approved by the bank, the requested prepaid card will be delivered to me.
By signing the declaration form, I confirm I have received the Key Facts Statement of this product and confirm that I read, understood and signed it and agree to abide by the terms and conditions as set out on the application form for Sharjah Islamic Bank Prepaid Card.
Name of applicant: .............................................................
Signature of Applicant:
Date: .............................................................
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