CashU is a digital wallet where you can shop and pay online instantly even if you don’t have a bank account. In simple words – it offers virtual payment services.
CashU is a secure payment solution developed and customized to match, represent and help online MENA (Middle East and North Africa) shoppers with safe, affordable and easy-to-use payment solutions. It is available to more than 75,000 credible and accessible providers throughout all countries and cities in the MENA region.
Create a CashU account:
The account can be created with an email ID and mobile number.
Once you create the account, you need to add funds at the nearest vendor or from your Mastercard or Visa card, to use it as a digital wallet further.
CashU users can use their Email address and password to login.
What are the uses of CashU for a Consumer?
Bill Payments – You can pay your bills instantly and easily anytime.
Instant & Everywhere – At many stores, you can add money to your CashU digital wallet instantly.
Safe & Secure – It protects your money from online fraud using safe and advanced technologies.
Easy Shopping – You will get huge options to shop online and other services you can shop from.
Digital Wallet – You can send money from one CashU wallet to another account through the “Send Money” service within the same country instantly! But the sender account should be a Premium Account. If the amount doesn’t get transferred, it will be refunded in 48 hours to the sender.
Check More: Know all about Prepaid Cards
CashU provides different products and services to its customers.
CashU e-Wallet – The digital wallet being the core product, it makes the customers fund their wallets and avail as a payment method across different stores and various locations.
One Page Checkout – This is a service provided where consumers can combine different payment methods like credit cards, CashU wallet, CashU cards, mobile airtime for a single transaction.
Majd Card – The Majd Card is a prepaid card that allows you to pay for your purchases online. Basically, the card can be used wherever the prepaid Majd Card is approved as a payment method. It’s safer and easier than using credit cards.
Activate your Majd Card:
You can activate your Majd Card by following these steps below:
- First, you need to complete the KYC.
- Add money to your CashU digital wallet through the various top-up options.
- Now, click on the “Majd Card” Tab.
- Add the amount you want to add to your Mastercard (minimum USD 10 – maximum USD 400).
- Once you click on “Generate”, your card will be generated.
- You can then start using the card immediately
CashU Savings Program:
CashU provides Savings Certificates for a fixed amount of deposit. These Deposit certificates are kept locked until a certain profit is earned on it for a tenure of 3 – 12 months. The certificate holders can get a profit of up to 5% every 3 months. Hence the annual profit that can be earned on savings certificates is up to 20%.
At the end of the tenure, the certificate amount and the profit earned on it will be credited in the CashU wallet.
- Basic account holders can purchase Deposit Certificates with a total value of no more than $250.00.
- Premium Account Holders will be able to purchase deposit certificates of value not exceeding $5,000,00 with a limited number of certificates per certificate.
You will earn an immediate 5 percent bonus on your first certificate, which will be added to your account, as well as benefit up to 20% of the deposited sum annually.
Note: For both basic and premium accounts, the savings program is available.
Crypto – Crypto is a new mobile application service that enables users to trade online cryptocurrencies.
Note: You don’t get any refund for buying or selling cryptocurrencies.
Also check: Things to know about Digital Banking
Frequently Asked Questions:
Q. What is the minimum age required to use this service?
A. Yes, there is an age limit, you should be 18 or above to avail CashU services. If less than 18, you must have parental/guardian consent.
Q. How do I know which websites accept CashU payment?
A. You can check here all the merchants which accept digital wallet payment method.
Q. How to start with CashU?
A. Follow these below steps:
- Register for a CashU account. Upon registration, Customers are assigned an online account that holds electronic money for use in online transactions.
- Fund your account from the nearest vendor or using Mastercard or Visa card
- You are ready now to shop & pay online.
Whenever you add money to your digital wallet using a Credit/Debit card, you will be deducted 3% of the added amount from your Credit/Debit card.
Q. In which currency does CashU allow Credit / Debit cards for payment?
A. CashU transactions are only available in USD, EGP, BHD,AED, DZD, JOD, EUR, KWD, MAD, LBP, OMR, SAR, QAR and TRY, respectively. However, your CashU digital wallet is always deducted in US dollars from the transaction amount.
Q. Do I receive interest on the amount on my CashU account?
A. No, you don’t receive interest on the balance in your Customer Account, unless otherwise related to fixed deposits within an earning program.
Q. What is the difference between a Dormant Account and an Inactive Account?
A. A Dormant Account is defined as any account that does not have a transaction for a duration of 120 consecutive days.
An Inactive Account is defined as any account that does not have a transaction for a duration of 366 consecutive days.
Q. How do I get help from CashU?
A. Please visit CashU support if you need any type of support.
Q. What is the annual fee for a CashU wallet?
A. Annual Maintenance Fee for the digital wallet is USD 1.00.
Q. How long has my Majd card been valid for?
A. Your Majd Card is valid for 6 months only.
Q. Can I renew my expired Majd Card?
A. No, you cannot renew your CashU Majd card once it is expired. But you can close it and generate a new card from your CashU wallet.
If your expired Majd Card has balance, it will be refunded to your digital wallet at the time of closing the account only after deducting card closure fees.
Q. How much is the maximum amount per transaction I can pay?
A. You can spend up to $250 per month on a Basic Account. If you verified your account with an identification document or passport, your account will become Premium and then you can spend up to $5000 per transaction per day and $50000 per month.
Q. How to change from Basic account to Premium account?
A. When you verify your account, it will convert from Basic to Premium account. Your identification documents can be a copy of your Passport, your National ID card, your Residence Permit or any other document that identifies you with an expiry date.