Terms & Conditions

Definitions

ABK Commercial Card Cashback Program Terms and Conditions:

Customer can benefit from cashback through transactions made using the card, according to the following:

The following transactions are not eligible for the cashback program:

1. Cash withdrawals, any card fees, or balance transfers
2. Transactions conducted through the following merchant categories:

• Money transfers – bank transfers.
• Financial institutions.
• Non-financial institutions – currency exchange, money transfers (not bank transfers), and traveler's checks.
• Purchases of securities, stocks, or government bonds (treasury bills).
• Transactions that violate public morals and applicable laws in the State of Kuwait.
• Jewelry stores.
• Precious stones, metals, watches, and jewelry.

3. All transactions related to trading in digital currencies are excluded
4. Card refunds, reverse or returned transactions, refunds on tax-exempt transactions, and credit balance transfer transactions are excluded.

General Terms & Conditions of the Cashback Program:

• ABK Corporate card holders are eligible to receive cashback on local (inside Kuwait) and international (outside Kuwait) purchases made through point-of-sale devices or websites.
• The cashback amount will be retracted from future accruals for cases of reversed transactions, issuance of any credit vouchers or tax refund and for any chargeback cases. In case the amount in customers' cashback point balance is not enough to cover the reversed transaction, the system will retract those amounts once cashback amount balance is available.
• Cash withdrawals and “Quasi Cash” are not eligible for participation in the cashback program.
• Cashback can be earned on all merchant’s categories.
• The minimum amount for redemption is KD 5. Any customers with a cashback amount less than KD 5 cannot claim a cashback.
• The customer does not have the right to object or claim missing cashback reward amount after 60 days from the date of transaction.
• Only cards of active status are eligible to redeem cashback amount, card status of late payment, stop/or any other status will not earn cashback amount and will not be part of the cashback program.
• Cashback amount are calculated on transactions that are posted/billed on card account statement only.
• The cashback amount is determined by the bank and depends on the amount of eligible purchases made and the merchant categories where the card was used.
• If the cashback amount is incorrectly added to the cashback wallet due to misuse or any other reason, the customer authorizes the bank to deduct the aforementioned cashback amount or its equivalent from the customer's card or bank account.
• The Bank has the right, to amend these terms and conditions at any time, or cancel the cashback program. Such amendments shall become valid, effective and legally binding on the Customer after (30) days from the announcement through its various communication channels with customers or by any other way it deems appropriate.
• The Customer hereby authorizes the Bank irrevocably to exchange information regarding the customer’s credit balance or assets with all banks in accordance with the applicable banking systems and without any liability, in this regard, on the bank or Ci-Net. The customer may request to revoke this authorization at any time.
• ABK has the right to cancel the cashback and re-credit the amounts obtained by the customer through his or more cards by manipulating or circumventing any of the cashback programs and/or the terms and conditions of the cards concerned.
• The terms and conditions specific to ABK Commercial Card apply in addition to all the T&C’s of ABK for credit cards, and the customer acknowledges that he has read and agreed to them and received a copy thereof to act accordingly.