Product Disclosure Statement
This product disclosure Statement (PDS) contains important information about your gocash card; including but not limited to, its significant features, benefits, characteristics and risks. All capitalized terms used in this manual (unless specifically otherwise mentioned) shall have the meanings ascribed to them in the ‘Definition & Interpretation’ section of Part B of this manual.
Know your gocash card
What is gocash multi-Currency travel card?
It is a reloadable multi-currency prepaid card issued by UAE Exchange in association with MasterCard that enables you to pay for purchases, carry out online transactions or withdraw cash from ATMs while you are residing in the country or travelling abroad. You can use the card at all merchant locations worldwide where MasterCard is accepted electronically, including shops, ATMs, restaurants, hotels, online and over the phone. The maximum amount that be loaded or reloaded in the card is AED 25,000 or equivalent of any FC.
The Card provides easy access to your available Balance, which can be stored in ‘wallets’ in up to six (6) currencies, from a choice of multiple currencies. The card provides you with a convenient way to spend money overseas because it allows you to convert your Available Balance to a particular currency prior to making a transaction. You can lock in your exchange rate, which protects you from any currency rate fluctuation that may occur during your travel. You can know how much money you have left in your Card Account to spend in each currency.
The Chip and PIN technology provides enhanced protection for your card against counterfeiting and card fraud. This is because the embedded microchip is encrypted and impossible to replicate. Using your gocash Chip and PIN card, every time you do a transaction at an ATM or merchant outlets, you will be prompted to enter your 4-digit PIN number. The transaction will be successful only if the PIN is entered correctly.
This card also comes with a latest contact less technology. The embedded chip and antenna enables the customers to wave their card over a reader at the point of sale terminal. These transactions are flexible, secure and standard way with minimal human intervention.
Use of the card and the Card Account is subject to the Terms and Conditions. Please refer to the Terms and Conditions in the website.
Key features and benefits
The Card Account has the following features:
- ▪ Use the card anywhere in the world where MasterCard is accepted electronically
- ▪ Create different currency wallets in your Card Account up to six (6) currencies. Each currency you select will be held in a different wallet. A United States Dollar (USD) wallet will be provided to you by default. You may choose to have a maximum of five (5) other wallets from any of the following currencies:
- ✓ Euro (EUR)
- ✓ Great Britain Pound (GBP)
- ✓ Indian Rupee (INR)
- ✓ Australian Dollar (AUD)
- ✓ Saudi Arabia Riyal (SAR)
- ✓ Canadian Dollar (CAD)
- ✓ Swiss Franc (CHF)
- ✓ Thai Baht (THB)
- ✓ Singapore Dollar (SGD)
- ✓ Turkish Lira (TRY)
- ✓ Malaysian Ringgit (MYR)
- ✓ Egyptian Pound (EGP)
- ✓ South African Rand (ZAR)
- ✓ Hong Kong Dollar (HKD)
- ✓ UAE Dirhams (AED)
- ▪ Set Currency Priority for each wallet, for selection of wallets at the time of transaction in the event where there is insufficient Available Balance in the wallet, primarily intended for the transaction.
- ▪ Transfer Available Balance from one wallet to another.
- ▪ Manage your Available Balance and currency conversions real time through the customer portal and contact center.
- ▪ Load funds to your wallets from any of the UAE Exchange branches in UAE.
- ▪ Withdraw funds from any ATM across the globe that accepts MasterCard.
- ▪ Use the card for purchases from any merchant location across the globe, where MasterCard is accepted electronically.
- ▪ Use the card for transaction in a currency that is not offered by us (MasterCard will convert the currency at its own rate for which a currency conversion fee will be charged to you).
- ▪ Receive SMS and email alerts (on mobile numbers and email addresses that are registered with us) confirming the transactions undertaken using your card.
For whom is gocash card most suitable?
The Card offers a secure and convenient way to access foreign currencies as well. Therefore it is also suitable for someone travelling abroad as this will enable you to load the foreign currency of your choice of destination from the basket of multiple currencies. The different currency wallets in the card makes it ideal for online shopping and travelling.
You can also budget your day to day expenses and use it everywhere locally to make payments (AED Wallet) to your grocery shopping, gifting, online shopping, utility payments, retails purchases etc.
How do you obtain & activate your gocash card?
The card can be purchased at any of the UAE Exchange branches located in the UAE, upon completion of the necessary registration and KYC procedures. Cards are available in personalized as well as non-personalized versions. The non-personalized card can be immediately obtained upon completion of KYC procedures and initial loading of funds.
The Personalized version of card) can be obtained with your name embossed on the face of the card. In order to avail this facility, you will have to apply for the card at any of our UAE Exchange branches and make the payment in advance. We will deliver the card through courier to your desired address within UAE in seven (7) days. Once purchased, the card has to be activated in IVR by calling on 02-6355625.Your card is ready for use immediately upon activation. The validity of the card is thirty six (36) months.
What is eligibility for obtaining gocash card?
Following are the eligibility criteria to obtain gocash card.
You have to be….
- Resident of UAE with valid Emirates ID
- Eighteen years (18) of age or above
Where can you use your gocash card?
You can use the card to pay for goods and services from a merchant location (shops, restaurants, hotels etc.), to conduct online transactions or to withdraw currency from ATMs, worldwide wherever MasterCard is accepted including UAE. Depending on your travel requirements, you can load funds on to the different currency wallets from the available basket of multiple currencies so as to perform the transaction in a currency which is local to that of a particular country you are in. You can use Available Balance held in any wallet in any country. In such instances, different currency conversions will apply depending on the wallet being used from the card.
How do you use our services?
The below table shows how you can access services related to your card:
Service Branch Website Contact Centre IVR UAEEX ATM Purchase Card ✓ Activate Card ✓ ✓ ✓ Reload ✓ Available Balance ✓ ✓ ✓ ✓ ✓ Transaction History ✓ ✓ ✓ ✓ Report lost or stolen card or Block Card ✓ Transfer between Currencies ✓ ✓ ✓ Request replacement cards ✓ Raise Disputes ✓ ✓ Close card ✓ Queries ✓ ✓ ✓ Set currency priority ✓ ✓ Adding new wallets to the card ✓ ✓
Managing and protecting your card
You will be responsible for your card, your username, PIN and account passwords. Do not share your card details with anyone. Memorize your PIN as soon as you receive it, and never write your PIN on your card or anything along with the card. We recommend that you change the Pin from time to time through IVR or UAEEX ATM so as to keep your card secure at all times. If you forget your PIN then you can contact our Contact Centre for support.
On receiving the card, you must immediately sign with a ballpoint pen on the signature strip on the backside of your card. If you believe that your account or card details have been compromised, you should contact and report to the Contact Center immediately.
Do not expose your card to magnetic fields, water or direct sunlight. Avoid scratches on the magnetic stripe. The magnetic stripe on the back of your card is a sensitive encoded surface, which needs special care. Do not place two cards with magnetic stripes together face to face. Do not leave your card near a television or any other electronic gadgets, which have a continuous magnetic field.
Queries, disputes and complaints
We encourage you to retain all vouchers and transaction records received from merchants and ATMs and check all details and entries when reviewing transaction records on the Customer Portal and Contact Center. In case any dispute arises you should report the disputed transactions to us by calling the Contact Center on 02-6355625 within thirty (30) days of the transaction in question, failing which it would be construed that all transactions are in order and acceptable to you. Proof of the purchase transaction / amount withdrawn and a written summary of relevant information may be required. We will endeavor to resolve all your enquiries and complaints within sixty (60) days of receiving the same. Please note this time period may be extended, if we decide to address your complaint under the MasterCard scheme rules.
The risks associated with the card include the following:
- ▪ Unauthorized transactions on the Card, for which you may be liable, can occur if the card is lost or stolen or your PIN or card details are revealed to any other person. It is your responsibility to inform us about such incidents immediately.
- ▪ Incorrect transactions, for which you may be liable, can occur if incorrect details are entered during the time of the transaction. You must ensure that the transaction details are correctly entered by the merchant.
- ▪ If our system, the website or the electronic network enabling the use of the card malfunction or is not available or there is a disruption in the services provided by our partners then you may not, for a period of time, be able to use your card (including loading funds to your Card Account or completing a transaction). UAE Exchange will not be responsible for such occurrences.
- ▪ If you hold insufficient Available Balance in a wallet of the currency in which you seek to make a transaction then the transaction will be effected according to the Currency Priority, which will involve a currency conversion at a rate which may not be as favourable as offered on the customer portal or at a UAE Exchange branch.
What do I need to do before I start using the card?
- Please sign with a ballpoint pen on the signature stripe on the backside of your card
- Activate the card by calling us on 02-6355625
- Your default PIN is derived from your card number and the logic for identifying the PIN is provided in the welcome letter
- Please change the Pin in IVR as soon as you activate the card
Can I change my PIN?
- Yes, Pin can be changed in IVR. Please call us on 02-6355625 and follow the instructions in IVR to change the Pin.
- You can also change the Pin UAEEX ATM
- In case you feel that your Pin has been compromised, please report the matter immediately to our Contact Center.
How do I check my balance?
You can check balance using the following modes:
- Self Care Portal
- Mobile App
- UAEEX ATM
Apart from this you’ll also receive SMS and Email alerts after each transaction mentioning your available balance and transacted amount.
What are the possible reasons for my transactions getting declined?
- Inactive Card
- Insufficient Available Balance
- Expired Card
- Incorrect card details entered in E-com transaction
- Invalid Pin
- Invalid CVV
- Exceeding daily limits set by issuer
- Exhausting the velocity limit set for the day
Should I use my gocash card to pre-authorize my hotel or car hire?
It is not recommended that you use your card as a guarantee of payment for hotels, car rentals, cruises, etc. These companies may estimate your bill and if you use your card as a guarantee for the estimated amount, the funds will be temporarily unavailable to access or spend. You can of course use your card to settle your final bill.
What is Currency Priority?
Currency priority option enables you to set or reset the sequence of a currency. This is how it works.
- The order in which the funds are taken are based on the Currency Priority set by you.
- During the time of card purchase, the priority will be set on the basis of the order in which you select the currency wallets.
- You can change the priority of the currency at any point through self-care portal or through contact center on 02-6355625.
What is a Dynamic Currency Conversion payment?
Dynamic Currency Conversion (DCC) is an optional service that is sometimes offered by retailers and ATM operators abroad, giving you the choice of paying in either the currency of the country you are visiting or the card wallet currency. It is preferred that you make a purchase or ATM withdrawal in the currency of the visiting country. Please note that there will be an additional cost, if the merchant transaction or ATM withdrawal is made in a currency, which is different to any of the available currencies in the card.
How to reload your card?
You can reload your card from any of the UAE Exchange branches in the UAE. It is not necessary that you will have to be present in person to conduct the transaction. A third party can reload your card on your behalf; however it is mandatory that such third party will have to be registered with UAE Exchange by completing the necessary KYC requirements. You can top up each of the available wallets with funds as per requirement; there is a maximum limit per card, which means that funds in all wallets combined cannot exceed this total limit. The limit is set by UAE Exchange and may vary from time to time. For more details refer the Fees and Limits document.
How to add more Currency Wallets?
You can reload your card from any of the UAE Exchange branches in the UAE. In case you are not in town and you want to reload the card, you can still do it by assigning someone authorized by you to reload the card. In order to do this you have to nominate 3 persons from your family or friends to carry out reload transactions on your behalf. These nominated persons must be registered with UAE Exchange Center LLC and should be added as the authorized persons in UAE Exchange system under your profile to carry out reload transactions on your behalf.
How to add more Currency Wallets?
- You can have a maximum of six (6) active currency wallets in your card at any time
- In case you do not have six (6) wallets, you can create wallets of your choice either by calling contact center on 02-6355625 or by logging into self-care portal
- You can also deactivate any of the currency wallet if you wish to and add any of the currency wallets of your choice
- You can perform the reloads on only the active wallets
How to Cash Out your gocash multi-currency travel card?
To cash out your card you need to fill up RRF (Refund Request Form) and submit it either at any of our UAEEX Branches or forward the same through email to firstname.lastname@example.org upon receiving signed RRF we will initiate the refund process. The amount will be refunded only to your Local bank account only (Dirham account) within 3 business days. However we suggest you to do Wallet to Wallet transfer to your local currency wallet to avail better exchange rate and use the card locally.
Card cancellation procedures and new issuance?
You can cancel your card any time. Following are requirements:
- Raise your cancellation request at any of our UAEEX Branches or through contact center
- You need to cash out the card first before your card can be closed
- Fill in the RRF form and submit the signed copy at either any of UAEEX Branch or email us at email@example.com
- Your request will take 3 to 4 days to complete
- The available balance will be refunded only to your local dirham bank account
- In case you need to avail the card again in future, you can do so by visiting any of our UAEEX branches and complete the same formalities as you did earlier.