MULTI CURRENCY FREEDOM PREPAID CARD | Terms & Conditions


Multicurrency Prepaid Cards issued by the Al Ahli Bank of Kuwait shall be subject to the following Terms and Conditions and to any amendments thereto made by the Bank, from time to time.

Definitions of Key Terms in this Agreement:

The “Bank” or “ABK”: Means Al Ahli Bank of Kuwait K.S.C.P.
The “Card(s)”: Means the Multi Currency Prepaid Freedom Platinum MasterCard Cards, issued by ABK to the Cardholder including any additional card issued to another person named by the Customer. All applicable Transactions and dues are registered on the Card.
The “Customer” or “Applicant”: Means the natural or juridical person who applies for the Card.
The “Cardholder”: Means the person to whom the Card is issued, and whose name appears in print on the Card; and the Bank, upon the request of the Applicant, may issue additional card to another person to be named by the said Customer in accordance with the Terms and Conditions stated herein, and any amendments thereto.
“Currency Wallet”: Means the aggregate record and/or balance of each Currency category on the Card chosen and funded by the Customer; and available for Transactions in the relevant Currency.
“KWD Wallet”: Means Kuwaiti Dinar Currency Wallet balance on the Card.
“Non-KWD Wallet”: Means Non-Kuwaiti Dinar Currency Wallet balance on the Card.
“Currency Conversion”: Means the foreign exchange rates used for card Transactions, which is set and determined by ABK and varies each day.
“Card Fees” or “Service Fee”: Means any charges payable by a Customer/Cardholder to the Bank in respect of a Card from time to time including, without limitation, the amount incurred by the Customer/Cardholder on all Card Transactions, service charges, issuance, renewal, balance transfers and replacement fees.
“Personal Identification Number (PIN) “: Means the Card’s secret special number delivered by the Bank to the Customer in a sealed envelope.
“Transaction”: Means buying goods, receiving services, cash withdrawals or other actions taken by means of using the Card.
“Chargeback”: Means the reversal of a Card Transaction which is disputed by the Customer.

General Terms and Conditions for ABK Cards:

  1. Customer/Applicant of age 18 and above is eligible to apply for the Card, and must be a citizen or valid resident of Kuwait.
  2. The Customer must collect the Card and its PIN from ABK.
  3. The Card can be funded/loaded/reloaded in Kuwaiti Dinars only (KWD Wallet), and by using a valid KNET ATM Debit Card issued by a Bank in Kuwait.
  4. The Customer can fund/load/reload funds on the Card through the channels made available by the Bank from time to time. Cash will not be accepted to the fund the card.
  5. The minimum amount that can be loaded/reloaded to the card is KWD 25.
  6. The maximum amount that can be loaded on the Card in one day is KWD 3,000.
  7. The Bank may at the request of the Customer, may issue the Card to another Cardholder to be determined by the said Customer in accordance with the Bank’s Terms and Conditions. The Card Applicant is responsible for the usage and dues of the Card even if delegating it to a Cardholder other than the Card Applicant.
  8. The Card shall be signed by the Cardholder whose name appears in print thereon upon receipt from the Bank, and its PIN shall be kept confidential and shall not be disclosed to others. The Cardholder is responsible for that and for signing all receipts, invoices and all other documents related to the Card Transactions and/or the additional Card’s Transactions by using the same signature appearing on the Card, and without affecting their continued obligation under these documents in the event this procedure has been violated.
  9. The Card is a Prepaid card and Customer will not pay or receive any interest on the Card
  10. The use of the Card will entail some Card Fees or Service Fee and certain Fees and Commissions, which are any charges payable by a Customer to the Bank in respect of a Card which includes, without limitation, the amount incurred by the Customer on all Card Transactions, Service charges, Balance Transfer Fees, Issuance, Renewal and Replacement fees. ABK reserves the right to levy any additional associated charges to the Card as and when it may seem fit.
  11. Customer can only utilize the KWD Wallet balance on the Card to Transfer funds to a Non-KWD Wallet available for the Card. This transfer will entail the applicable Currency Conversion rate, plus an added conversion rate and fee which are determined by the Bank.
  12. Direct Transfers of funds from one Non-KWD Wallet to another Non-KWD Wallet is unavailable. Funds will firstly be transferred to the KWD Wallet, then transferred to the chosen Currency Wallet. This transfer will entail the applicable Currency Conversion rate, plus an added conversion rate and fee which are determined by the Bank.
  13. The Customer is responsible for being aware of the amount available for each Currency Wallet on the Card and for ensuring that he/she has sufficient funds for all Transactions in the relevant Currency.
  14. In the event of insufficient funds in a particular Non-KWD Wallet to pay for a Transaction or in the event the Transaction is in a currency not same as any of the Card’s Non-KWD Wallet(s), then the full amount of the Transaction will be processed using the available KWD Wallet balance available on the Card. If following the use of the available KWD Wallet balance is still insufficient to pay for the Transaction, then the Transaction will be declined.
  15. All amounts relating to any Transaction in Foreign Currency not available on the Card’s Currency Wallet(s) has to be exchanged for the local currency (Kuwaiti Dinars) at the spot rate of the Kuwaiti Dinar applicable at the Bank against the relevant Foreign Currency at the date the Bank receives statement indicating such amounts. All amounts due shall be posted to the Card on the day deemed appropriate by the Bank, plus an applicable added conversion rate and fees which is determined by the Bank and the companies issuer of the card. This is without prejudice to the Bank’s right to amend the rate of the commission/fees at any time, and to notify the Customer accordingly and this rate on the statement of account, shall be deemed to be a notification to the Customer.
  16. Cardholder can withdraw cash outside Kuwait at any ATM that accepts MasterCard logo card, by inputting the PIN number when withdrawing. The amount available on the Card shall be reduced by the value of each successful Cash Withdrawal Transaction in addition to any/all applicable Service Fee. Cash Withdrawal is not allowed at any local ATM in Kuwait apart from the Bank’s ATM.
  17. In the event Customer wants to transfer the available funds on the Card to a bank account, the Bank will transfer the funds back to the Customer’s local bank account only in Kuwaiti Dinars and/or in the Kuwaiti Dinar equivalent of the Non-KWD Wallet(s). The Currency Conversion rate of the Kuwaiti Dinar at the Bank against the relevant Foreign Currency, plus an applicable added conversion rate and fees, will be applicable at the date the Bank converts the Foreign Currency to Kuwaiti Dinars. Applicable Balance Transfer Fee will be charged to the Customer.
  18. Customer shall be responsible for the Card and its use, and shall be liable for all consequences resulting therefrom. In cases of loss, theft, damage, or misuse either by them or others, with or without their consent, the Customer shall be obliged to indemnify the Bank for any damages or losses resulting therefrom.
  19. In case of the Card’s loss, theft or damage, the Customer or Cardholder shall be responsible to immediately notify the Bank’s Call Center. If the notification is given by phone, it must then be confirmed in writing within a period of seven days. In all cases, the Customer shall be responsible for any and all liabilities arising as a result of the use of the Card and up to the date on which the Bank receives such written confirmation. A replacement Card may be issued to the Customer upon payment of the required fees.
  20. The Bank shall not be responsible in any way whatsoever for the manner in which the Cardholder uses or misuses the Card. The Bank shall also not be responsible if the Card is dishonored by any institution, company or others; nor for any flaws or defects in the goods or services arising from the use of the Card by the Cardholder, and the Bank shall not be responsible for any losses or damages resulting from any failure or breakdown of the ATMS or card accepting machines inside or outside Kuwait, irrespective whether the reasons were technical or for any other reason. The Customer explicitly acknowledges that he holds the Bank harmless and free from any and all liabilities that may result from any of the aforesaid, and that he shall not refrain from settlement of any amounts debited to the Card Account because of any dispute or claim in relation thereto.
  21. The Customer/ Cardholder Acknowledges that the load/reload transactions and all other Card transaction performed on the Card are free from any suspicious money laundry and/or any terrorism financing activities. The Customer/ Cardholder declares that they shall abide by Laws and Regulations regarding the crimes of money laundering and terrorism financing in addition to any other financial crimes.
  22. “The Bank has the right to cancel the prepaid card at any time without stating any reason in case that the KYC updates are not provided and/or AML/CFT laws and regulations are not complied with”.
  23. The address specified in the application shall be the selected domicile for any correspondence or notifications to be sent to the Customer from the Bank, unless the Bank receives a written notice from the Customer of their new address.
  24. In the event that the Customer disputes a Card Transaction, it must be reported within Thirty days from Transaction date to any ABK Branch or ABK Call Center, and the Customer will be required to provide all the necessary documentation needed for the investigation. The Chargeback process will determine the acceptance or decline of disputed Card Transaction amount.
  25. The Bank shall or shall not award the Customer/ Cardholder specific benefits and rewards for the use of the eligible Card. The Bank shall have the right to determine the benefits or rewards obtained according to a third party agreement with companies offering such benefits to the Bank to offer it in consequences to the Customer/ Cardholder, the Bank shall from time to time amend, withhold or cancel benefits or rewards at its sole direction. The Customer/ Cardholder Acknowledge that these benefits and rewards granted to him by the Bank are subject to the Bank sole direction and agrees any future cancelation or amendments on these benefits and awards whenever the Bank decides without stating reasons. The Customer/ Cardholder herby undertakes to keep the Bank informed and authorize the Bank to update any changes in Customer/Cardholder email ID, Telephone number, and address that the Bank may informed of or be available with the Bank to all companies offering the awards and benefits related to the Card and herby authorize the Bank to contact these companies and update them with the information mentioned above.
  26. The Customer hereby authorizes the Bank to obtain from the Public Authority for Civil Information his business and residence address and any change thereto, and declares to the Bank his agreement to provide the Authority, when needed, with this authorization.
  27. The Card shall remain, at all times, the property of the Bank and it is the responsibility of the Customer to return it whenever so requested by the Bank.
  28. If this Agreement is terminated by the Customer, and his/her ABK Cards have been returned to the Bank, all obligations and rights owed to the Bank associated with this Agreement will not be affected prior to termination.
  29. All other ABK Terms and Conditions apply.
  30. All ABK Customers are governed by the laws and regulations of the Central Bank of Kuwait and will be held legally responsible for the usage of ABK Cards.
  31. The Bank reserves the right to amend any of these Terms and Conditions at any time, and any amendment announced by the Bank or any of its branches or by any other means deemed appropriate, shall be constituted as valid and effective amendment as from the date thereof, and shall be binding upon the Customer.

I confirm that I am the Applicant/Primary Beneficiary of this card. I/we read, understood the “Terms & Conditions”, I/we read, understood the “ABK Card Information and Requirements Form” and that I have received a copy of the two mentioned documents.