Definitions: The following terms shall have the following meanings:
Bank: Kuwait Finance House
Tam: Is a digital banking service established in the State of Kuwait and offers digital banking services. Tam and its logos, trademarks, and all rights in those trademarks, is owned solely by Kuwait Finance House, herein referred to as ‘KFH’ and the customer shall not use or copy the trademarks owned by Kuwait Finance House.
Customer: is a person who holds an account(s) with the bank, accepts these terms & conditions, and uses a mobile device to access mobile application and undertakes any banking transactions through the mobile application.
Accounts: The customer’s account at the bank and any other banking products the customer may have at the bank.
Help center: Is the telephone and WhatsApp service through which the customer may communicate with the bank in order for the bank to receive any complaints related to the customer’s transactions, inquiries regarding account balances, and to conduct certain banking transactions via telephone.
Payments: The payments that the customer desires to make by using the Mobile Application Service which facilitates the debiting of the customer’s account(s).
Mobile(s) or Mobile Device: The Mobile telecommunications device(s) owned and under the control of the customer and through which the Mobile banking service is accessed and utilized by the customer.
Mobile Application: The Mobile Application through which customers can check balances, undertake account transactions, make payments, and conduct other banking transactions through a Mobile device that supports the Mobile Application Service.
Website: The website with a domain name tam.bank owned and controlled by the bank.
Prepaid card: Tam prepaid card issued by the bank.
Merchant: any individual, establishment, company, or legal entity who or which accepts to deal with the cards.
Terms & Conditions: The Tam digital banking services terms & conditions including the ones communicated by the bank from time to time to the customers.
Tam Prepaid card general terms & conditions:
The Prepaid Card shall be used by the customer to whom it was issued personally, within the limit allowed to him/her, and the customer shall not exceed such limit.
The prepaid card shall be topped up in KD amount.
The prepaid card entitles its holder to have access to the available funds in the card.
The customer shall be fully responsible for the Prepaid Card and the use thereof, for all the consequences resulting there from, particularly in the event of the destruction, loss, theft or abuse thereof, by him/her or by others, and whether with or without permission from the customer. The customer shall, in all events, pay to the bank all the amounts debited to the account(s). The customer shall not disclose his/her account’s data and PIN code/ OTP.
In the event where the Prepaid Card is lost or stolen, the customer shall immediately notify the bank though Help center on 1803000, WhatsApp on 1803000 or the nearest Visa office in writing within seven days. Until the bank receives the written notice, the customer shall be liable for any sale voucher or cash payment arising from the use of the lost or stolen Prepaid Card.
The bank shall not bear any liability with regard to any action, negligence or objection by the Merchant, for any reason whatsoever, including where a Merchant refuses to accept the Prepaid Card.
There shall be calculated and paid in Kuwaiti Dinars all the amounts due in favor of the bank by the customer plus 2.5% (two & half percent) of the amount of transaction, at the exchange rate of the Kuwaiti Dinar against the foreign currency on the date on which the bank receives the statement of the amounts from the bodies approving the Prepaid Card, and this shall be considered an act pursuant to an implicit power of attorney given by the customer.
If the customer uses his Prepaid Card to make purchases in Kuwait Dinar, the Fils decimal shall be rounded up or down since Visa or MasterCard transactions are made in Dollars, and thereby the Dollar displays 2 digits while the Kuwaiti Dinar displays 3 digits.
The bank shall, at any time, have the right to recover the amounts due in its favor from any deposits, payments or accounts that the customer may have at the bank, whatsoever names, immediately and without the need to give notice or to take any action.
The deposits and accounts of the customer in the possession of the bank shall be deemed to be pledged as security for the settlement of all the amounts due or to become due by the customer for any reason whatsoever.
The following amounts shall be charged to the customer’s account in Kuwaiti Dinar:
Subscription fee KD10 payable once every year such time as is determined by the bank.
All the expenses and amounts arising from the use of the card by the customer, including the cost of any commissions charged by banks or other financial institutions to the customer for using the Prepaid Card. Note that the Prepaid Card replacement of lost/damage/ not receive Fees is KD 5 and replacement of PIN code fees is KD 2.
The bank retains ownership of the Prepaid Card and its PIN code.
The bank shall not be liable for any damage that may result from a sudden breakdown of any ATM or card acceptance machines(POS) for a technical reason, or the lack of adequate funds therein or for any other reason inside or outside Kuwait.
The bank reserves the right to renew the Prepaid Card at any time it so wishes. At least sixty days (60 days) in prior to expiry date. The customer may request cancellation of the automatic renewal of his Prepaid Card through the Tam Mobile Application. The return of the Prepaid Card by the customer to the bank and the receipt thereof by the bank without reservation shall not constitute a discharge of the customer vis-a-vis the bank. In all events, the customer shall be liable for all the obligations arising from the use of the Prepaid Card until the discharge of all such obligations and the settlement of the Prepaid Card account, or after the expiry of a period of not less than sixty days (60 days) from the date on which the card is returned, whichever occurs later. In case sixty days (60 days) has passed without any attendance from the customer to collect it, the Prepaid Card will be spoiled. Anyhow, if the customer requests for another Prepaid Card, the same will be issued and an issuance fee will be collected from the customer. In both cases charges are collected from the customer’s account upon an authorization to the bank from the customer.
The bank shall have the right to revoke the Prepaid Card whenever it deems it appropriate to do so without having to express any reasons, particularly in the following events:
If the customer violates any of the conditions set forth in this Terms & Conditions.
If the customer abuses the use of the Prepaid card, and particularly if he/she uses it for settling the prices of goods, works or services that violate the provisions of the Islamic Sharia.
If the customer suffers a preservative or executive attachment of his/her properties.
In the event where judgment has been issued against the customer to liquidate his/her properties or where he/she has been adjudicated bankrupt of where he/she suspends payment of his/her debts.
In the event where the customer becomes incompetent or dies.
In the event of the closing of the account(s) of the customer. Whether by a decision of the bank or upon the request of the customer.
If any of the events of revocation occurs, all the obligations arising from the use of the Prepaid Card shall remain under the responsibility of the customer until the discharge of all these obligations and the settlement of the Prepaid Card account.
Benefits and promotions presented with the issuing of the Prepaid Card are considered null and void immediately once the customer cancels the Prepaid Card. The customer shall not be entitled to benefit from any promotion or feature associated with the Prepaid Card; and has no right to claim it after the cancellation. Fees and charges of any use of such benefits and promotions after the cancellation of the Prepaid Card are the sole responsibility of the customer. The customer commits to turn in any other cards or promotions given to the customer due to this Prepaid Card.
Every notice sent by the bank to the customer at his/her address set forth in this application shall be deemed valid and legal. The customer undertakes to notify the bank in writing of any change of his address.
The bank shall charge all the amounts referred to under Article 12, above, all the amounts of cash sale vouchers and all the amounts resulting from the use of the Prepaid Card to the account of the customer. The bank shall send a statement of account to the customer showing the amounts the customer is required to pay. The customer can access the statement of account through the Tam mobile application.
The customer waives the right to demand and audit of the relevant accounting books and records of the bank with regard to the customer’s obligations arising from the Prepaid Card, as set forth in this Terms & Conditions. The customer shall not object there to save where there is conclusive evidence to the contrary and where such evidence is acceptable to the audit and Sharia control bodies.
The bank shall have the right to amend these terms & conditions at any time it so wishes through the Mobile Application, website, and social media channels. The amendment shall be valid with effect from the date thereof unless the customer rejects the amendment, and by doing so, he is deemed to request cancellation of the Prepaid Card, and thereupon shall be subject to the provisions of Articles 15, 16 and 17.
The customer declares that he/she is aware of, understands, accepts, and agrees that the services made available through the Prepaid Card are not available in certain countries on certain days due to the fact that the personnel are on official, national and religious holidays. The customer confirms that he/she is aware of and accepts this fact.
The customer authorizes the bank to deduct the amounts incurred by him/her because of the use by him/her of the Prepaid Card, in Kuwaiti Dinar, by debit to his/her current account, saving investment account or any other accounts of the customer at the bank.
The bank has the right to modify the privileges or add any additional privileges for the benefit of the customer.
The forgoing sets forth the terms & conditions that govern the relationship. Anything that has not been specifically provided for herein shall be subject to the provisions and laws in force in the State of Kuwait and to the jurisdiction of the courts of the State of Kuwait without contradicting Sharia Laws.
The customer acknowledges and approve that the Credit Information Network Company KSCC can share information related to consumer loans and credit facilities in connection with sales by installments between the banks, investment companies supervised by Kuwait Central Bank, Tam mobile application powered by Kuwait Finance House and the commercial establishments supervised by Ministry of Commerce and Industry, and such institution of which are entitled to grant credit facilities through the sales by installments subject to the law no.2 for the year 2001.
The customer acknowledges his acceptance and approval of all fees & commissions mentioned in the bank tariff list announced at the bank’s website.
The customer acknowledges and agrees that the Prepaid card outstanding amount might exceed the Prepaid Card limit in case merchants unable to process the settlement request on time. In this case, the customer is liable to pay the card outstanding amount.
In the event of change in fees, the bank shall notify the customer through the channels used by the bank for customer correspondences, including electronic means.
These terms and conditions have been drafted in both the Arabic and English language and in the case of any discrepancy between both languages, the Arabic language shall prevail.
