Prepaid Cards in UAE
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Compare Prepaid Cards in UAE
| Card Activation Fee | Load/Reload Fee | Validity of the Card | ATM Withdrawal | Maximum Cash Withdrawal Limit | Maximum Balance on the Card | |
|---|---|---|---|---|---|---|
| Pyypl Prepaid Card | Free | Free | 12 months | Yes | AED 3500 | AED 3500 |
| Najm Mall gift card | AED 7.50 | - | 12 months | No | No | AED 3500 |
| Emirates Islamic Prepaid Card | AED 26.50 | No | NA | Yes | AED 5000 | AED 40,000 |
| CashU Prepaid Majd Card | AED 3 | AED 3 | 6 Months | No | NA | AED 1,469 |
| Travelez Plus Classic Prepaid card | AED 30 | AED 5 | 6 Months | Yes | NA | AED 36,700 |
List of Prepaid Cards in UAE
Advantages
- Online debit card without bank account
- No minimum salary is required
Features
- AED 9 is charged as an inactivity fee if the user doesn’t use the card in the previous month
- AED 1 is charged as a transaction fee on local purchases
- AED 3 or 3.9% of the transaction amount is charged as a transaction fee on international purchases
Features
- AED 9 is charged as an inactivity fee if the user doesn’t use the card in the previous month
- AED 1 is charged as a transaction fee on local purchases
- AED 3 or 3.9% of the transaction amount is charged as a transaction fee on international purchases
- AED 2 is charged as fee for international mobile topup
- AED 2 will be charged on fund transfer to Pyypl accounts
- AED 10 or 3.9% of the transaction amount is charged as an international fund transfer fee
- No charges while loading or reloading the card
- There are no activation fees charged on the virtual card
Benefits
- Get the Pyypl prepaid card in seconds
- Can apply on the app easily
- Track the expenses easily over the app
- Can use the card anywhere worldwide to make purchases
- A bank account is not required for Pyypl prepaid card
- No minimum salary required
- No minimum balance to be maintained
- No post-dated cheques are required
- Hassle-free documentation
- Both UAE residents and non-residents are eligible
- Can transfer funds to domestic and international Pyypl users
- Can load using debit cards or by cash. Load available at the MBME of UPay kiosks, using a debit card, connecting the bank account to Pyypl or through the official Pyypl’s dealers
- UAE customers can remit to international locations like India, Bangladesh, Kenya, Nigeria, Pakistan, Philippines, Sri Lanka and Nepal.
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Features
- AED 7.5 is charged as a monthly fee on Pyypl physical prepaid card.
- AED 9 is charged as a card replacement fee
- AED 1 is charged as a transaction fee on local purchases
Features
- AED 7.5 is charged as a monthly fee on Pyypl physical prepaid card.
- AED 9 is charged as a card replacement fee
- AED 1 is charged as a transaction fee on local purchases
- AED 3 or 3.9% of the transaction amount is charged as a transaction fee on international purchases
- AED 2 is charged as fee for international mobile topup
- AED 2 will be charged on fund transfer to Pyypl accounts
- AED 10 or 3.9% of the transaction amount is charged as an international fund transfer fee
- There is no load/reload fees charged
Benefits
- Get the Pyypl prepaid card in seconds
- Can apply on the app easily
- Track the expenses easily over the app
- Can use the card anywhere worldwide to make purchases
- A bank account is not required for Pyypl prepaid card
- No minimum salary required
- No minimum balance to be maintained
- No post-dated cheques are required
- Hassle-free documentation
- Both UAE residents and non-residents are eligible
- Can transfer funds to domestic and international Pyypl users
- Can load using debit cards or by cash. Load available at the MBME of UPay kiosks, using a debit card, connecting the bank account to Pyypl or through the official Pyypl’s dealers.
- UAE customers can remit to international locations like India, Bangladesh, Kenya, Nigeria, Pakistan, Philippines, Sri Lanka and Nepal.
Features
- Employees don’t have to maintain any minimum balance
- Unlimited access to a huge network of ATMs and CDMs
- Complimentary personal accident cover offered with the card
Features
- Employees don’t have to maintain any minimum balance
- Unlimited access to a huge network of ATMs and CDMs
- Complimentary personal accident cover offered with the card
Benefits
- For Employees:No need to maintain a bank account [no minimum balance requirement or any incidental charges]
- Eliminates delay in receiving salary [including cheque clearing delays or processing delays]
- Automated process which ensures maximum efficiency in processing
- No need to carry cash around
- Easy and safe way to receive your salary
- Balance can be checked online
- Receive an alert when your salary is credited [Free of cost]
- Access to VISA/MasterCard worldwide networks
- Can be used for cash withdrawal [at ATMs] and online and offline shopping [EFTPOS]
- 24 hours support through a call center for query resolution if any
- You can visit an FAB ATM and select your Personal Identification Number [PIN]
- Completely compliant with the guidelines laid down by the Wages Protection System [WPS], UAE
- Complimentary accident insurance. You are eligible for five times your monthly salary [subject to a maximum of AED 25,000] in the case of an accidental death or permanent total disability caused by an accident.
- You can avail a daily cash benefit of AED 50 [subject to a maximum period of 30 days/AED 1500] for hospitalization costs due to the accident if any. The minimum period is 24 hours.
- In the case of death, the cost involved in the repatriation of your mortal remains will be reimbursed up to AED 5,000.
- For Employers: A payroll payment system that is easy and convenient
- Manage all Ratibi cards of your employees online
- Individual company requirements for salary processing can be serviced too
- Transfer salaries from your corporate account to individual Ratibi cards in a secure manner using the online banking service
- An efficient and automated service with a team of dedicated professionals to help you with queries, if any
- A single bank transfer can credit salaries to all you employees holding Ratibi prepaid cards
- Eliminates the risk involved in handling cash.
- Pay wages in local currency at considerably lower costs
- Non-WPS payroll processing available. You can send bulk files through FAB’s secure electronic channel with debit instructions from your corporate account
Features
- CashU provides a virtual prepaid card in partnership with Noor Bank and Mastercard
- Can’t renew an expired card
- USD 1 is charged as a one-time charge to activate the Majd Card
Features
- CashU provides a virtual prepaid card in partnership with Noor Bank and Mastercard
- Can’t renew an expired card
- USD 1 is charged as a one-time charge to activate the Majd Card
- USD 5 is charged to close the Majd card before the expiry
- USD 1 is charged to fund the card
- USD 1 or 2% of the transaction amount is charged on transactions made using the card
- Majd card is valid for 6 months
Benefits
- Can be used to make online purchases only
- Should have a CashU wallet account and account needs to completely KYCed
- The minimum amount that can be load on the card is USD 10 and a maximum amount of USD 400 per month
- CashU is widely accepted by all merchants in the MENA region
Features
- Is provided by Al Fardan Exchange Centre
- One time fee for opening the card ranges from AED 30
- Card reload fee of AED 5 is charged
Features
- Is provided by Al Fardan Exchange Centre
- One time fee for opening the card ranges from AED 30
- Card reload fee of AED 5 is charged
- Charges levied on ATM withdrawals
Benefits
- Can manage the card and account using the mobile app or through the TravelEZ website
- Can load the card once per day
- No annual membership fees are charged
- Can load the card maximum of 12 times per month
- Can maintain a maximum balance of AED 36,700
- The minimum load amount is AED 100
- The card is valid for 6 months
View details on Al Fardan Exchange website
Benefits
- One time charge of AED 7.5 is charged during sign-up
- Can fund the card from AED 100 to AED 3500
- A minimum loading of AED 100 is required
Benefits
- One time charge of AED 7.5 is charged during sign-up
- Can fund the card from AED 100 to AED 3500
- A minimum loading of AED 100 is required
- The card is valid for 12 months
- No documents are required
- Can track the purchases easily
Benefits
- Easy to load the card at any Emirates Islamic branch or via online banking
- Can use the card at domestic and international locations as well
- Provides 3D secure where the cardholder needs to authenticate while making any payments
Benefits
- Easy to load the card at any Emirates Islamic branch or via online banking
- Can use the card at domestic and international locations as well
- Provides 3D secure where the cardholder needs to authenticate while making any payments
- Can use it for travel bookings, shopping, and much more
- Can avail Emirates Islamic Mayaza offers and get up to 30% OFF on dining at selected restaurants
- Can get exclusive travel and shopping discounts at selected outlets
- Provides purchase protection
- Can avail balance transfer facility for free
- A maximum of AED 40,000 can be maintained in the card
- A one-time load fee of AED 25 is charged(if the card is loaded at a teller counter)
Benefits
- FAB Payment Prepaid Card does not need activation
- Bank account is not needed
- There are no monthly charges levied
Benefits
- FAB Payment Prepaid Card does not need activation
- Bank account is not needed
- There are no monthly charges levied
- No minimum balance requirement in the card
- Can use the card at domestic and international stores
- Free statements are provided
- Can withdraw cash at FAB ATMs for free
- Free online balance enquiry
Features
- This is a Gift card that can't be reloaded
- Can fund the card from a corporate card
Benefits
- KYC is not required for the cardholder
- Can be used as a Corporate Gift for the employees
Features
- FAB Multi-Currency Prepaid Card is entitled for government entities in the UAE
Benefits
- Up to 24 currencies can be availed
- Funded by Government entities in the UAE
- Can reload multiple cards in bulk
- Dedicated customer support 24/7
- Fixed foreign exchange rates are charged
Prepaid cards are slowing making their way into people’s lives across the world. These look like regular debit or credit cards but are functionally different from either of them.
Features of Prepaid Cards in UAE
As the name suggests, a prepaid card is a card issued by a bank or a financial institution which is preloaded with funds. This is a payment card and can be used like any debit or credit card. However, unlike a credit card, it doesn’t offer you credit and it is not directly linked to your banking accounts either [which is the case with debit cards]. Prepaid cards can be loaded with money by you or a third party and can be used up to the amount available. In short, when you use a prepaid card, there is no loan involved. You are spending the money that is already deposited with the bank or financial institution that has issued the card to you.
Let’s look at some of the basic features of a prepaid card:
- No credit approval required to avail prepaid card.
- Almost immediate issuance of the card.
- It can be used everywhere a credit or debit card is being used.
- A cashless and debt-free option to transact.
- Funds can be reloaded online, through direct deposits and ATMs.
- ATM withdrawal option available.
- Some banks might charge a small fee to provide the service.
- Usually, there is a limit on the amount that can be loaded and withdrawn in a specific period.
- These cards have an expiry date too.
- Some banks offer loyalty points or rewards for transaction done using a prepaid card.
- They can be used as gift cards
- Can be used as travel cards when you travel abroad.
Eligibility Criteria of Prepaid Card in UAE
The only criteria to avail a prepaid card in UAE is that the applicant must be over 21 years of age. You don’t need any documents or even an account with the bank issuing the prepaid card. However, this must be checked with the individual bank or financial institution before approaching them for a card.
Pros and Cons of Prepaid Card in UAE
Here is a quick look at the pros and cons of a prepaid card:
Pros of Prepaid Cards:
- Global acceptance being powered by VISA or MasterCard
- No credit scrutiny
- It’s not a loan hence no debt-worries
- Immediate issuance
- Possibility of earning reward points or a cash back
Cons of Prepaid Cards:
- Not linked to your account so purchase can be made only to the extent of the amount loaded
- Fees can be charged by the issuing institution for various services
- No interest on the money lying in the card’s account
- Transaction will be outright rejected if the it exceeds the amount available on the card
Difference between Prepaid Cards and Credit Cards
To bring things into perspective let’s draw a comparison between prepaid and credit cards:
| Prepaid Card | Credit Card | |
|---|---|---|
| Funds used | Own Funds | Borrowed funds |
| Interest to be paid | No | Yes |
| Documents needed | Basic | Detailed |
| Credit history scrutiny | No | Yes |
| Usage | Usually ATM, POS and online | ATM, POS and online |
Frequently Asked Questions
⭐ Can I avail of a prepaid card if I am unemployed?
A. Prepaid cards are offered to people with basic documentation. You should not face any problem applying for a prepaid card. Do check with the concerned bank before applying.
⭐ What is the validity period of a prepaid card?
A.It is usually 6 months - 5 years from the date of issuance. While some cards have no validity. However, you can check with the issuing bank before availing the facility as this varies from card to card.
⭐ Is it mandatory to maintain a minimum balance on the card?
A.On most of the prepaid cards a minimum balance is required. If there no minimum balance on the card, it will be considered inactive and a monthly inactivity fee will be charged.
⭐ Can we withdraw cash using prepaid cards?
A.Yes. Prepaid cards can be used to withdraw cash at ATMs and other selected merchants/ kiosks. But a cash withdrawal fee will be charged.
⭐ What will be the cash withdrawal fee charged?
A. Cash withdrawal fee varies with the card provider. If the cash is withdrawn at the same bank ATM, then there won't be any cash withdrawal fee charged.
⭐ What can we do if the card gets expired?
A.If your prepaid gets expired, you can get a new card or get the existing one renewed if the bank permits.
⭐ Can I transfer my balance from one prepaid card to another?
A.Yes. You can transfer the balance from one prepaid card to another. A balance transfer fee will be charged.
⭐ Are all the prepaid cards reloadable?
A.Most of the prepaid cards are reloadable unless it is a gift card. You can check with the card provider before getting one.
⭐ Can I get my existing prepaid card replaced?
A.Yes. You can get your existing prepaid card replaced on paying a card replacement fee.
⭐ What happens if my card is inactive for so long?
A. If your prepaid card is inactive(no minimum balance) for more than a limited period, your card will be closed.
⭐ How do I check the transactions performed on the card?
A.You can get the details of your card which includes transactions history, balance on the card, and much more through phone banking, online banking, etc.
⭐ Are there any fees charged while adding money to the card?
A.There can be load/reload fee added which depends upon the provider.
⭐ What is balance unload fee?
A.Balance unload fee is a fee charged on withdrawing the remaining balance on the card after closing the card.
⭐ Are prepaid cards accepted worldwide?
A. Yes. Most prepaid cards are accepted worldwide. However, it is recommended to verify the same with the card provider before getting one.
⭐ Can I load the card whenever I want to?
A.Yes. If your card did not exceed the maximum limit, you can load the card.
⭐ Are there any charges levied on the closure of the card?
A. No. The prepaid cards expire once the validity is over. However, there will be a balance unload fee charged on withdrawing the remaining balance available on the card.
⭐ Are there any charges levied on the non-usage of the card?
A.Yes. If the prepaid card is inactive for a long time there will be an inactivity fee charged by some providers.
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