Key Fact Statement

Key Features

• Transfer funds globally to over 200 countries and regions through four available options:
  • Bank Transfer
  • Wallet
  • Cash pickup
  • UPI

• All international transfers will be debited from your Botim Money account in AED and converted into the selected currency at the time of initiating the transfer.

• The applicable currency conversion rate will be applied, and you will be notified of this rate prior to your consent to the transfer.

Eligibility

• You must be 18 years or older and be a resident or citizen of the United Arab Emirates.

Wallet Currency

• United Arab Dirhams (AED).

Fees

• No charges are associated with maintaining your Botim Money wallet or account.
• A fixed service fee of AED 6.00 – AED 15.00 may apply, along with a nominal foreign exchange margin fee for international transfers*.
• Additional fees may vary based on factors such as transfer amount, currency, corresponding bank charges, etc.
• All fees and charges are exclusive of VAT. A 5% VAT will be additionally applied to the fixed service fee.

Limits

• Maximum value of any single international transfer: AED 36700.
• Maximum daily international transfer limit: From AED 25,000 to AED 500,000, subject to approval.
• Maximum monthly international transfer limit: From AED 25,000 to AED 500,000, subject to approval.
• Maximum number of daily international transfers: No limit.
• Maximum number of monthly international transfers: No limit.
• Maximum wallet limit: From AED 25,000 to AED 500,000, subject to approval.

Collection

• Recipients can collect the transfer in cash at designated locations within our partner network (“to cash”) or receive the transfer in their bank or mobile wallet account (“to account”).

Load Options

• You can load funds into your Botim Money wallet before initiating transfers using one of the following methods:
  • Debit cards;
  • Bank account transfer;
  • Apple Pay, Samsung Pay, Google Pay;
  • By visiting registered kiosks; or
  • There may be instances where additional fees for other services apply. This Key Facts Statement offers indicative fees and charges only. The precise fees and charges will be provided for your confirmation when you initiate an International Transfer.

WARNING -Important Information

• It is your responsibility to ensure your Botim Money wallet is sufficiently funded prior to use. Failure to maintain adequate funds in your Botim Money wallet will result in the International Transfer being declined. 
• You must always safeguard your Botim Money wallet credentials to prevent unauthorized use or fraudulent activities. 
• The International Transfer service may involve third-party agents, authorized delegates, or other permitted entities within our network. Consequently, you may be required to review and accept additional terms and conditions, which will be communicated to you via the Botim Money App before completing any applicable International Transfer. Additionally, we may request further documentation to fulfill regulatory and compliance requirements. 
• You do not have the right to cancel an International Transfer. However, upon your request, we may attempt to cancel the transfer before the recipient collects or receives the funds, though this is not guaranteed. Should you wish to cancel the transfer and request a refund, please contact us immediately through our Contact Page (Insert Hyper link).
• Please note that any fees paid during the initiation of the International Transfer will not be refunded if the cancellation request is successfully processed and the funds are returned to you.
• In the event of a refund, the exchange rate may differ from the original rate used during the International Transfer.
• For International Transfers intended for cash collection, if the recipient does not collect the funds within 90 days of the transfer instruction, the transfer will be considered expired, and we will have no obligation to complete the International Transfer. In such cases, you will be entitled to a refund of the expired transfer amount to your Botim Money account.
• For International Transfers sent to account, you will need to contact the recipient’s account provider for information regarding the processing time for crediting the transfer to their account.
• We reserve the right to suspend or cancel your access to your Botim Money wallet if your conduct is deemed unsatisfactory or in violation of the Central Bank of the UAE’s regulations.
• We also reserve the right to impose limits on the value of International Transfers you can make using your Botim Money wallet, in addition to the general limits outlined in the General Terms. The General Terms can be accessed here.