KIB Cards Terms and Conditions
On acceptance of my Card Application submitted by myself, being the cardholder, by Kuwait International Bank (KIB) and Issuance of such payment card(s), I am binding myself to the following terms and conditions governing the usage of the card (s) Issued by Kuwait International Bank (KIB).
First- Definitions:
The following terms and expressions, herein stated, shall have the meanings ascribed opposite to each of them:
The Bank: Kuwait International Bank (KSC) (KIB)
The Card: Means all categories of payment cards (Credit card or Charged Card or Installment Card) issued by the Bank to KIB customer(s) and such a card(s) may carry the logo of an International network agency (e.g. Visa or Master Card) and It could basic card(s) or supplementary card(S)
Payment Card: Refers to the ‘card’ used by the cardholder, which is accepted by the merchant for carrying out any purchase or payment transaction or fulfilling any other liability.
Cardholder: 1- The customer, in whose name the primary card and/or additional card was issued by the Bank, who bears all responsibilities resulting from using the card. 2- Any Individual authorized by the Bank to obtain an additional payment card, upon the Instructions of and at the responsibility of the primary cardholder, may be referred to as the additional card holder.
Card Account: The account of the customer in whose name the primary or additional card was issued. All primary or additional card transactions, fees, subscriptions, Expenses and due amounts shall be posted to this account and in accordance with Bank’s policies and procedures.
Card Application: The application form that a KIB customer must submit to apply for a card(s) and this application forms as an integral part of the terms and conditions of card(s) issuance.
Card Transaction: Any purchase of goods/services and cash withdrawal transactions made via the Primary and/or Additional Cards.
Card Limit: The maximum amount permitted by the bank to use the primary or additional card (s) to charge for goods and services and also for cash withdrawal through the card.
Cash Limit: The maximum cash withdrawal limit permitted to the primary/additional cardholder(s) within the Card Limit and it is provided entirely at the discretion of the Bank. This limit may be changed, reduced or restricted at any time by the sole discretion of the Bank.
Over limit: An amount exceeding the Card Limit permitted by the Bank.
Current Balance: Total debit/credit balance on the primary, or additional Card Account according to whatever is registered at the records maintained by the bank.
Minimum Payment Amount: The minimum amount that must be paid by the cardholder at the Payment Due Date. This amount shall be as follows:
1- A percentage
Or 2- The total outstanding of the card account depending on the type of payment settlement indicated in the Card Application. This amount may also include the Over limit Amount
and/or 3- The Past Due Amount or the amounts exceeding the card limit (if any).
Payment Due Date: The date specified in the Statement of Account by which, the cardholder shall fulfill the due payments for the primary or additional card as per the minimum payment amount.
Past Due Amount: Full or part unpaid amount not settled by the cardholder for the primary or additional card by the payment due date. It is cared forward and added to the Minimum Payment Amount of the following month(s).
Primary Card: The Payment Card issued to a customer who has an account with KIB and under whose instructions and responsibilities.
Additional Card: The Payment Card issued by the Bank to another individual under the primary cardholder’s instructions and responsibilities/.
Clearance Certificate: A certificate issued by the branch at which the card account is held, staling that the cardholder has been discharged by the Bank after payment of all amounts, fees and expenses payable by the primary and additional card.
The Company: Credit Information Network Company (CI-Net).
PIN: Personal Identification Number issued to the Cardholder. It consists of certain numbers that enables the cardholder to obtain the service. It is given personally and privately to the cardholder, who is legally obliged to take all necessary measures to maintain these numbers and not to disclose them to any Individual whatsoever.
POS: Point of Sale (POS) is an electronic terminal used to process payment card charges for goods/services bought.
GCCNET/KNET: The local and Gulf switch for processing, clearing and settling the POS and ATM transactions made within Gulf countries including Kuwait.
Second- Terms and Conditions:
1. Cardholder accepts and declares that the Card(s) will be used exclusively by him and that all Card related transactions shall be in compliance with the terms and conditions of this agreement.
2. Cardholder must not permit any other person(s), not duly authorized by virtue of the bank's applicable regulations, to use the Card whatsoever, and Cardholder should exhibit his/her ID card whenever requested by the Bank, and the Cardholder shall comply with the terms and conditions prescribed by the bank while using the card strictly within the Card Limit or the amounts credited into the prepaid Visa electron card. The Cardholder shall assume full responsibility towards the card usage and all consequences thereof, especially in case of damage, loss, stolen, or fraud. The Cardholder shall be responsible also for any damage to the ATMs for technical reasons, insufficient fund, force majeure, or for any other reasons, inside or outside the Stale of Kuwait. In all cases, the Cardholder shall assume responsibility to pay off all amounts resulting from card usage in favor of Kuwait International Bank (KIB).
3. In case of loss or theft of the card(s), the cardholder must immediately notify the bank’s Customer Service Centre on 1 866 866 (available 24 hours) and then he must confirm it in writing within three days. Until the bank receives the written notification, In case of loss or theft of the card, the cardholder remains responsible for settlement of total due resulting from the use of the lost/stolen card.
4. The cardholder shall willfully waive the right to request the bank to refund the cash amount of any goods or services obtained through the card.
5. Cardholder agrees to fully and irrevocably authorize the Bank to seek CiNet transactions inquiry and also to periodically update CiNet with any card related financial transaction data throughout the validity of this agreement.
6. The Cardholder agrees and undertakes to transfer his monthly Salary or Pension to his account referred in the card application and Is obliged to maintain on adequate balance In the account sufficient to settle the amount due and/ or offer a cash collateral equivalent to 110% of the required Card limit authorized by the bank and shall authorize the bank to debit the Minimum Payment Amount therefore pursuant to Article (19) hereof.
7. The Cardholder undertakes to use the card within the approved Card Limit and declares that the total monthly debt Installment obligations Inclusive of Credit Card payment, In force at the time of processing application, shall not exceed CBK’s Installment- to-income-ratio. The Cardholder agrees that the bank may adjust the Card Limit, with prior notification of
The cardholder at any time via Email or SMS or any available method of communication whatsoever in order to strictly Comply with any CBK directives or for any credit reasons
8. The Bank at its absolute discretion, may reject any purchase made on the card which exceed approved Card Limit or is deemed illegal or unethical, Cardholder agrees not to use the card for any illegal or unethical purpose, or in any unlawful purchase of goods and services unauthorized by the Bank or by local public laws/ethics, or violating KIB’s or regulatory authorities Instructions, or prohibited by virtue of AML8 CFT Law No. 106 of 2013, other laws, and bylaws and rules and regulations applicable in the State of Kuwait.
9. Withdrawal of cash by the cardholder may be permitted completely at the discretion of and up to the limits fixed by the bank. The bank may charge, restrict, reduce or cancel this limit or withdraw it alltogether, whenever it deems necessary and without assigning any reason and/or giving any notice to the cardholder.
10. Cardholder must sign Sales Vouchers and documents as identical to his signature on the card. However, the absence of such signature and/or discrepancy in the same shall not exempt the cardholder from setting his card account or being liable for the transaction value made on the card. When the sales vouchers and documents are presented to the bank.
11. Cardholder may not demand copy of sales voucher as a proof of purchase especially in all internet transactions which don’t require signature of cardholder on any document. Cardholder shall assume irrevocable responsibility regarding all transactions carried out online or through any other means in case he contests the same.
12. The bank shall not assume any responsibility In case a merchant declines to accept the card, and shall not responsible for any defect / delay / deficiency of goods or services bought using the card. Cardholder is committed to pay off the bank the outstanding amount resulting from the card transactions once so demanded by the bank not with standing of any disputes between the cardholder and the vendor(s) from whom the merchandise or service was purchased.
13. Cardholder agrees to hold the bank harmless and discharged from any inconvenience or damages caused due to failure of ATM or POS (point of sale) terminal[s] whether due to technical failure, insufficient card limit or due to delays in crediting funds to the card account or any other reason of non-functioning from within or outside Kuwait.
14. Cardholder undertakes to notify the bank (the branch which opened the card account) in writing within 5 days of any unauthorized, unsolicited, restricted, or suspicious transaction[s]. The cardholder further accepts liability for any losses as a consequence of his failure to inform the bank within 5-day period. Cardholder accepts not to demand the amount of the disputed transaction(s) it is conclusively resolved and a decision is made.
15. Cardholder hereby irrevocably and Irreversibly authorities the bank to charge the card account with all card transaction amounts inclusive of foreign exchange differences for foreign transactions; in addition to the fees, charges and expenses due on these amounts and services introduced by the bank hereunder, and approved by the Central Bank of Kuwait.
16. Charging the card account with any transaction amount shall be considered a sufficient proof that the cardholder has conducted such transaction[s]. The bank shall charge fees in case cardholder requests original transaction voucher, which may be subject to retrieval delays; yet such request may not exempt cardholder from settling the related transaction amount payable to the Bank.
17. Statement of Card Account is considered final and binding to the cardholder to settle card account on or before Payment Due Date as indicated in the bank statements. It Is the responsibility of the Cardholder to seek the Statement of Account on a monthly basis from the bank.
18. Cardholder shall waive his right to request auditing the books and accounting records of the bank pertaining to the transactions resulting from card usage. The cardholder may not contest to the same unless there is concrete evidence – of their inaccuracy – which is convincing and acceptable to the bank, Audit Department and the Shari’a Supervisory Board.
19. Cardholder undertakes to settle the Minimum Payment Amount on or before the Payment Due Date as set out in the Statement or Account or as could be found from the bank’s round-the-clock customer service number 1 866 866 and/or from the bank’s Interactive online banking facility or from the bank where his bank account is kept.
20. If the Cardholder fails to settle the Minimum Payment Amount for more than 30 days, the unpaid Past Due Amount will be carried forward and added to the Minimum Payment Amount of the following month.
21. If the Current Balance exceeds the card Limit, the exceeded amount shall be deemed due and payable by the cardholder immediately or upon the bank’s request, and shall, at the discretion of the Bank, be added to the Minimum Payment Amount.
22. Any payment made by cardholder on or before Payment Due Data will be set off against the total Current Balance. Any payment in excess of the Current Balance will be treated as overpayment and will remain in the card Account.
23. The cardholder shall irrevocably authorize the bank to immediately recover by debiting Card Account or any other accounts held by the cardholder of any Cash drawings, transfers, past dues or payments made on the card, in addition to any fees, commissions or outstanding expenses due to card issuance or renewal. The Bank may also block those amounts In the account to redeem its rights in full.
24. The cardholder irrevocably and unconditionally authorizes the bank to set off all transaction amounts, fees, commissions due to the bank, arising out of the card usage in line with this agreement, against the credit balance(s) of any account(s) that are maintained by the cardholder with the bank or at any other bank(s) or financial institution(s) and such set off shall be made without prior reference to or approval from the cardholder.
25. All deposits, goods, and any existing funds in any other accounts that belong to the cardholder held at the bank shall be considered pledged as a collateral against settlement of amounts due or that shall become due by the cardholder, for any reason. The Cardholder shall irrevocably authorize the Bank to set off such deposits, funds and goods to fulfill all amounts and past due payable by the cardholder.
26. It is agreed that the Card shall remain the property of the bank throughout the validity of this agreement. The Cardholder shall immediately return the card to the bank upon request of the bank and/or as expiry or termination hereof.
27. The bank shall have the right, at its absolute discretion, at any time, to cancel the card or refuse to renew the same, without prior notification and without the need to explain the reason, particularly in the event where the cardholder or the holder of the additional card violates any of the herein stated terms and conditions. Bank reserves the right to cancel the card in the following cases:
- In case the cardholder is Incapacitated or deceased.
- In case the cardholder was found to be in breach of the terms and conditions thereof, or in case the cardholder fails to update his/her KYC with the bank.
If the cardholder misuses the card (s) and uses it to pay off merchandize, services, or acts unauthorized by the Bank or the regulatory authorities, or in cases the cardholder uses the card (s) In suspicious transactions or in transactions related to AML/CFT, stipulated in Law No, 106 of 2013, or violating the provisions of Islamic Shari’a, or against the rules and regulations applicable in the State of Kuwait.
- If an attachment (prejudgment or executive) was imposed on the cardholder’s properties or if his funds were placed under receivership, or if the cardholder was adjudicated bankrupt or insolvent due to his failure to settle his past dues.
- In case cardholder account is closed whether by the Bank or upon cardholder’s request.
28. Cardholder shall have the right to request cancellation of the card by virtue of written notice to his/her account branch at least 60 days prior to the expiry date of the card, so that no renewal fees are accrued thereupon.
29. If the bank or cardholder chooses to cancel the card(s), cardholder shall not be exempted from payment and fulfillment of his/her dues and obligations resulting from card(s)’s usage prior to its cancellation, However, the Cardholder shall remain reliable for the Bank for those amounts and shall not be exempted from his liabilities against the bank for therefrom until full. Settlement of total outstanding amounts arising from the use of the canceled card (s). This shall include those transactions performed and recorded under the same card or account number and until return date to the bank after being canceled from the computer system and from the bank’s records.
30. The cardholder accepts that the bank may block in the bank account mentioned in the card application an amount equivalent to 110% of the card limit and/or accepts to continue to transfer his salary for at least (45) days after date of cancelation and return the card to the bank. This is deemed a prerequisite for obtaining the clearance certificate that shall be issued after a minimum of (45) days from the date of returning the card to the bank and cancellation thereof from the electronic system and the Bank’s records.
31. The Bank is entitled to non-refundable annual fees against issuance of the card even if issued for longer than one year. Fees are also payable upon card renewal.
32. In case cardholder does not collect of his card from the account branch within 45 days from date of issuance or renewal, the card shall be canceled and the cardholder shall assume all expenses resulting from issuance and cancellation of the card.
33. The cardholder agrees that KIB shall reserve absolute right to renew/decline renewal of/block /freeze a card (s) without any restrictions, conditions or reasons. In such cases the cardholder must give back the card to the bank, and should immediately pay any fees, commissions or expenses payable by him/her to the bank.
34. In case of card cancellation for any reason caused by other than the cardholder, the Bank shall reimburse the cardholder the remaining amount corresponding to the remaining period in which the cardholder did not use the card due to such cancellation.
Third- General Provisions:
35. The cardholder acknowledges and agrees that the services provided by the card(s) shall be not be operational in certain countries and on certain days during official, national and religious holidays, and that the bank shall not be held liable therefrom.
Any authorized over limits granted to the cardholder shall require KIB prior approval, and therefore, the cardholder shall agree to postpone any card transaction in case where it exceeds the card limit until approval is issued by KIB, which has the right to accept or decline the same without providing any reasons.
In case of the cardholder’s failure to fulfill the Minimum Payment Amount due within (30) days ham statement date, the card will be deactivated. If the amount is settled before 90 data of the customer’s bank statement, the card will be reactivated. However, if it is settled after 90 days therefrom, the card will be reactivated only after the elapse of six (6) months from date of the customer’s bank statement.
In case of a second default, the card(s) shall be cancelled and reissued only after one year from the date of recovery of the due amount and subject to the required approval.
In case a third default, the card(s) will be cancelled and will not be reissued.
36. The Cardholder has taken the address mentioned in the Card Application as his chosen place of domicile. At which the Bank has the right to serve him with all correspondences and notifications, unless he clearly notifies the bank in writing with any change in such address, attaching all the documents required in this respect. The Cardholder also authorizes the bank to inquire on his residence and work address from the Public Authority for Civil Information without any liability assumed by the Bank or the Authority.
37. Cardholder shall verify the transactions and balances shown on the card statement against his/her own sales receipts and notify the bank of any discrepancies, within two weeks from statement date, otherwise cad statement will be assumed as correct.
38. The Bank may amend, cancel, or replace any of the terms and conditions hereof at any time the Bank deems suitable, with prior notification of the cardholder use Email or SMS or any available method of communication. Such amendment or cancelation shall be effective and binding to the cardholder so long as the cardholder is notified. The Bank shall notify the customer, in writing, via email, or SMS, in case new fees are chargeable or in case of any change to the fees or expense payable on credit cards which have been previously issued to the customer.
39. Unless otherwise herein stated, the terms and conditions herein stated shall be binding to the cardholder and shall be subject to the Laws of the State of Kuwait to the extent where they do not conflict with the provisions of the Islamic Shari’a. Courts of the Capital shall have jurisdiction over any dispute that might arise from the execution or construction hereof. The Arabic text shall prevail in case of any dispute.
40. I, the cardholder hereby confirm that I have received a copy of the terms and conditions of credit cards and prepaid (visa electron) cards, a copy of Visa\ Master card contract along with the Terms & Conditions and copy of the Bank announced fees on all services. I have read the same and I am fully aware of its contents and accepted the conditions set by the bank without any conservation or objection in his concern.
41. The cardholder shall irrevocably authorize the bank to obtain related personal or corporate information, as amended, issued by the Public Authority of Civil Information without responsibility assumed neither by the Public Authority of Civil Information nor by the bank in this respect.
42. The above terms and conditions are applicable to all types of credit cards issued by KIB to its customers.
43. Kuwait International Bank (KIB) has the right to announce and introduce a variety of programs, offers, discounts, promotional campaigns, rewards or benefits to its Credit and Prepaid cards, and the Bank (KIB) has the right to define which Cards without the other to be included in these programs, offers, discounts, promotional campaigns, rewards or benefits, including: earning and redeeming points, program terms, expiry of points, limits for earning points, and the Bank (KIB) has the right to amend and cancel the terms and conditions of mentioned programs or any promotional campaigns, such as the offering benefits, participation terms, rewards and reward criteria levels in whole or in part and at all times. Even if these adjustments may affect the value of points or rewards collected or the percentage of discounts, and the decision of the Bank (KIB) in this regard is unconditional The Bank (KIB) shall notify the customer of any modifications through the Banks available channels.
44. Kuwait International Bank (KIB) announces and introduces a variety of programs, offers, discounts, promotional campaigns, rewards or benefits to its Credit and Prepaid cards, through the Bank’s official website or any other available channel, and the customer and/or cardholder acknowledges that they are aware that the terms and conditions for these programs, offers, discounts, promotional campaigns, rewards or benefits are publicly announced and available to review via the Bank channels, therefore without any reservation or objection, the customer and/or cardholder agrees to the terms and conditions and is not entitled to object to this now or in the future regarding any of the programs, offers, discounts, promotional campaigns, rewards or benefits, or claim as an example the inability to access the Bank’s website.