Key Fact Statements
botim money International Money Transfers
You can utilize your botim money wallet to send funds globally to 172 countries, benefiting fromcompetitive rates and minimal fees.
| Section | Details |
|---|---|
| Key Features | Transfer funds globally to 172 countries through three available options:
All international transfers will be debited from your botim 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 shown this rate prior to your consent to the transfer. |
| Eligibility | 18 years and above, and UAE resident/ citizen |
| Wallet Currency | United Arab Dirhams (AED). |
| Fees | A Service Fee of AED 4.99 – AED 15 apply. For example, for sending AED 100 to India, a Service Fee of AED 6.99 and a 5% VAT, (total of AED 7.35) is charged. This is added to the transfer amount, so your wallet will be deducted by AED 107.35. Any additional taxes, fees, or charges that may apply in certain countries are set by the respective local partners. The precise fees and charges will be provided for your confirmation when you initiate an International Transfer. |
| Limits | International transfer and wallet limits range from AED 25,000 to AED 500,000, depending on KYC level, partner limits, and internal approvals. There is no limit on the number of daily or monthly international transfers. |
| 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”). |
| Estimated Transfer Time | Displayed in-app. Delivery times may vary by corridor and may take longer than expected. Status updates are available within the app. Transfers may be delayed or rejected if your Beneficiary details are incomplete or incorrect. |
| WARNINGS | It is your responsibility to ensure your botim Money is sufficiently funded prior to use. Failure to maintain adequate funds in your botim Money will result in the International Transfer being declined. You must always safeguard your botim Money credentials to prevent unauthorized use or fraudulent activities. International transfers may be impacted by fluctuations in foreign exchange rates International transfers are processed instantly and are therefore generally irreversible once completed. By acknowledging this Key Facts Statement, you also consent to waive off your right to 5 complete business days Cooling Off period and agree to this transaction being instantaneously processed. Since we are unable to guarantee cancellation after the transaction has been initiated. However, if you contact us immediately via our Contact Page here, we can attempt to stop the transfer before the recipient receives or collects the funds, though this cannot be assured. 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. We reserve the right to suspend or cancel your access to your botim Money if your conduct is deemed unsatisfactory, in violation of the Central Bank of the UAE’s regulations, our Terms & Conditions, or if your KYC is not updated. We also reserve the right to impose limits on the value of International Transfers you can make using your botim Money, in addition to the general limits outlined in the General Terms. |
Additional Information:
Additional Information:
- Our Terms & Conditions (including any associated documents) and Privacy Policy must be read and adhered to in conjunction with this Key Facts Statement.
- We reserve the right to amend, delete, or cancel any item within the Terms & Conditions and this Key Facts Statement at a later date, with a notice period of sixty (60) calendar days.
- All information provided by us is intended solely to aid your informed decision-making and should not be construed as a recommendation or specific advice.
- You are required to submit all necessary documents, including your Emirates ID, in a format that meets our requirements, to set up your botim Money and complete the International Transfer request.
- 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 App before completing any applicable International Transfer. Additionally, we may request further documentation to fulfil regulatory and compliance requirements.
- In the event of a refund, the exchange rate may differ from the original rate used during the international transfer. Refunds to the botim wallet are processed immediately, while refunds to bank cards may take up to 3–5 banking days to be reflected in your account. 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 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.
- It is your responsibility to ensure that your contact details, including your mobile phone number and ID documents, are up-to-date and to promptly notify us of any changes to the information previously provided.
- For the latest Key Facts Statement, please refer to our website here
- For any inquiries related to this product, you can contact us at customerservice@botim.me or call 6005 26846.
WPS salary cards
The card is connected to your botim Money wallet account. The card can be used to purchase goods and services both online and in person, wherever Mastercard is accepted.
| Section | Details |
|---|---|
Key features | • Standard • AED • Internationally Accepted • Supports ATM, POS & ecom transactions • Google Pay supported. |
Eligibility | You must be 18 years of age or over, and be a resident or citizen of the United Arab Emirates |
Card Currency | AED |
Minimum balance | No Minimum balance requirement |
Maximum value of any single transaction using card | AED 10,000 |
Maximum value of any single transaction using the contactless payment without PIN | AED 500 |
Maximum daily spend using card | AED 25,000 |
Maximum withdrawal amount using card | AED 3,000 |
Initial maximum wallet limit* | AED 25,000 |
Cash withdrawal | • ATMs accepting Mastercard (for physical card users) |
Top-Up options | You can load funds into your botim Money wallet using one of the following payment options: • Salary transfers • Cash deposit through self-service kiosk • Fund in through prepaid and debit cards • Fund in to the VAM IBAN • AANI Fund in • P2P fund in |
| We may, at our discretion, increase your wallet limit based on your transaction history and usage of the Services. If we do so, we will notify you via SMS and/or email. After an increase, we may reduce the limit in accordance with our internal policies or if we determine that you are not using the Services in line with the General Terms. However, we will never reduce the limit below the initial wallet limit specified above. | |
Key Fees and Charges
| Transactions | Pricing (AED) |
|---|---|
| Domestic charges | |
| Domestic – ATM Cash withdrawal Fee | AED 2.10 |
| Domestic – ATM Balance Inquiry Fee | AED 1.05 |
| Domestic – ATM Decline Fee | AED 1.05 |
| Domestic – POS & E-COM Decline Fee | AED 0.00 |
| International charges | |
| International – ATM Cash withdrawal | AED 15.75 |
| Cross Border Cross Currency Fee (POS & ATM) | 2% |
| International – ATM Balance Inquiry Fee | AED 5.25 |
| International – ATM & POS Decline Fee | AED 5.25 |
| Other Fee | |
| Card Replacement Fee | AED 26.25 |
| Statement Fee (hard copy) | AED 26.25 |
| Mobile Statement Fee (soft copy) | AED 10.50 |
| Dormant Fees -(inactive for 6 months) | AED 2.10. Per Month |
| This Key Facts Statement offers indicative fees and charges only. For the complete and most up-to-date fees and charges, please refer to the website for the latest schedule of charges. | |
Warning
- Your botim Money card is not a credit card; therefore, you can only make purchases up to the amount available in your botim Money account.
- You must always safeguard your botim Money card credentials to prevent unauthorized use or fraudulent activities.
- If you make a purchase or withdrawal in a currency different from that of your botim Money card, a foreign transaction fee, based on the prevailing currency conversion rate, will apply at the time of the transaction. Additionally, a merchant transaction fee, determined by the merchant’s POS service provider, may also apply.
- We may suspend or cancel your access to your botim Money card if your conduct is deemed unsatisfactory or in violation of the Central Bank of the UAE’s regulations.
- We reserve the right to decline your application for a botim Money card.
- Under the General Terms, we reserve the right to impose limits on the number or value of transactions you can make using your botim Money card, in addition to the general limits applicable to your botim Money card. The General Terms can be found here.
- Additional fees may be imposed by correspondent banks, financial institutions, or service providers involved in the transaction
- Providing incorrect or incomplete information may result in penalties, additional fees, or delays in processing your transactions
- Transaction completion times may vary due to additional scrutiny by correspondent banks, financial institutions, or service providers
botim money Wallet
With the botim money wallet, you can add, send, receive and pay money to participating merchants and other account holders, from anywhere, using your mobile device.
| Product | Details |
|---|---|
Key features |
|
Currency | AED (UAE Dirhams) |
Eligibility | 18+ years. UAE resident or citizen. |
Maximum wallet limit | AED 25,000 |
Maximum AANI transfer per transaction | AED 5,000 |
Maximum withdrawal to bank account | AED 25,000 |
Top-Up Options
- Debit and prepaid card (including Apple Pay and Google Pay)
- Credit card (coming soon)
- Bank account transfer through linked account (IBAN coming soon)
- Kiosk / POS cash deposit with registered partner vendors
Key Fees and Charges
| Transactions | Pricing (AED) Per Transaction |
|---|---|
AANI / IBAN “Send Money” | Up to monthly threshold*: AED 2.00. Crossing transaction**: higher of AED 2.00 or 1% of excess above threshold. Above threshold: 1% of full transfer amount |
Wallet Top-Up |
|
This KFS offers indicative fees only. Full schedule: astratech.ae/platform-terms/schedule-of-charges/
All fees are VAT-inclusive.
* Monthly threshold = the highest of AED 4,000 or the combination of: salary / WPS, proceeds from investment sales, and Quantix loan disbursals credited to your botim wallet within a calendar month. Resets on the 1st of each month.
** Crossing transaction = any single transaction that causes the monthly transaction volume to exceed the monthly threshold.
Your Rights and Our Obligations
We reserve the right to amend these Terms and Conditions with a minimum of 60 calendar days’ written notice before implementing any change to fees or terms.
Disclaimer
- This is NOT a bank account and is NOT covered by a deposit protection scheme.
- You can only spend up to the available wallet balance.
- Insufficient funds will result in a declined transaction.
- Safeguard your wallet credentials at all times to prevent unauthorized use.
- We may suspend your wallet if your conduct violates Central Bank of the UAE regulations.
- Foreign currency transactions will incur a conversion fee at the prevailing rate.
- We reserve the right to impose additional transaction limits. See: astratech.ae/platform-terms/
prepaid card
The card is connected to your botim money wallet account. The card can be used to purchase goods and services both online and in person, wherever Mastercard is accepted.
| Section | Details |
|---|---|
| Key features | • Standard and Metal card • AED and USD wallet • Internationally Accepted • Supports ATM, POS & ecom transactions • Apple Pay and Google Pay supported |
| Eligibility | You must be 18 years of age or over, and be a resident or citizen of the United Arab Emirates |
| Card Currency | AED & USD |
| Minimum balance | No Minimum balance requirement |
| Maximum value of any single transaction using card | AED 10,000 |
| Maximum value of any single transaction using the virtual card or contactless payment without PIN | AED 500 |
| Maximum daily spend using card | AED 25,000 |
| Maximum withdrawal amount using card | AED 1,000 |
| Initial maximum wallet limit* | AED 25,000 |
| Cash withdrawal | • ATMs accepting Mastercard (for physical card users) |
| Top-Up options | You can load funds into your botim Money wallet using one of the following payment options: • Cash deposit through self-service kiosk • Fund in through prepaid and debit cards • Fund in to the VAM IBAN • AANI Fund in • P2P fund in |
| Purchases / E-Com (AED) | Maximum Single Transaction is AED 10,000; Maximum Daily Spend is AED 25,000. |
| Purchases / E-Com (other currencies) | Maximum Single Transaction is equivalent to AED 10,000; Maximum Daily Spend is equivalent to AED 25,000. |
| ATM Cash Withdrawal (AED) | Maximum Single Transaction is AED 2,000; Maximum Daily Spend is AED 5,000. |
| ATM Cash Withdrawal (other currencies) | Maximum Single Transaction is equivalent to AED 2,000; Maximum Daily Spend is equivalent to AED 5,000. |
| Currency Conversion and Balance | Total balance equivalent in AED should not exceed the wallet limit. |
| We may, at our discretion, increase your wallet limit based on your transaction history and usage of the Services. If we do so, we will notify you via SMS and/or email. After an increase, we may reduce the limit in accordance with our internal policies or if we determine that you are not using the Services in line with the General Terms. However, we will never reduce the limit below the initial wallet limit specified above. | |
Key Fees and Charges
| Fees & Charges (VAT Included) | Total Amount in AED |
|---|---|
| Card Issuance – Virtual Card | Free |
| Card Issuance – Physical Card and Delivery (Standard) – Paid | 35 |
| Card Issuance – Physical Card and Delivery (Standard) – COD | 35 |
| Card Replacement – Virtual Card | Free |
| Card Replacement – Physical Card and Delivery (Standard)-Paid | 35 |
| Card Replacement – Physical Card and Delivery (Standard) – COD | 35 |
| Card Issuance – Physical Card and Delivery (Metal) | 285 |
| Card Replacement – Physical Card and Delivery (Metal) | 285 |
| Funds Load Fee | Free |
| Domestic ATM Withdrawal Fee | 5.25 |
| Domestic ATM Balance Inquiry Fee | 2.1 |
| International ATM Withdrawal Fee (Outside the UAE) – AED wallet | 15.75 |
| International Balance Enquiry Fee (Outside the UAE) – AED wallet | 5.25 |
| ATM Cash withdrawal Decline Fee (Domestic) | 3.15 |
| ATM Cash withdrawal Decline Fee (International) | 5.25 |
| E-com /POS Decline Fees (Domestic) | 1.05 |
| E-com/POS Decline Fees (International)*monthly one decline with no charges | 3.15 |
| Quasi Cash Fee | 10 / Or 2.25% of Transaction Amount (whichever is higher) |
| Cross Currency Fee (if customer is transacting in a currency apart from the list of botim Money currencies) | 3.50% |
| SMS Alerts | Free |
| Card Closure Fee (if within card expiry date) | 26.25 |
| Card Inactivity Fee (will be charged per month after 4 months of inactivity) | 5.25/Month |
This Key Facts Statement offers indicative fees and charges only. For the complete and most up-to-date fees and charges, please refer to the website for the latest schedule of charges.
Warning
- Your botim Money card is not a credit card; therefore, you can only make purchases up to the amount available in your botim Money account.
- You must always safeguard your botim Money card credentials to prevent unauthorized use or fraudulent activities.
- If you make a purchase or withdrawal in a currency different from that of your botim Money card, a foreign transaction fee, based on the prevailing currency conversion rate, will apply at the time of the transaction. Additionally, a merchant transaction fee, determined by the merchant’s POS service provider, may also apply.
- We may suspend or cancel your access to your botim Money card if your conduct is deemed unsatisfactory or in violation of the Central Bank of the UAE’s regulations.
- We reserve the right to decline your application for a botim Money card.
- Under the General Terms, we reserve the right to impose limits on the number or value of transactions you can make using your botim Money card, in addition to the general limits applicable to your botim Money card. The General Terms can be found here.
- Additional fees may be imposed by correspondent banks, financial institutions, or service providers involved in the transaction
- Providing incorrect or incomplete information may result in penalties, additional fees, or delays in processing your transactions
- Transaction completion times may vary due to additional scrutiny by correspondent banks, financial institutions, or service providers
- You must notify us immediately if you suspect any unauthorized transactions on your account to limit potential losses
Additional Information:
- Our General Terms (including any associated documents) and Privacy Policy (accessible here) must be read and adhered to in conjunction with this Key Facts Statement.
- We reserve the absolute right to amend, delete, or cancel any terms and conditions within the General Terms and this Key Facts Statement at any time, with a minimum notice period of sixty (60) calendar days.
- All information provided by us is intended solely to aid your informed decision-making and should not be construed as a recommendation or specific advice.
- You are required to submit all necessary documents, including your Emirates ID, in a format that meets our requirements, to set up your botim Money wallet and complete the International Transfer request.
- It is your responsibility to ensure that your contact details, including your mobile phone number, are up to-date and to promptly notify us of any changes to the information previously provided.
- For any inquiries related to this Key Facts Statement, you can contact us at customerservice@botim.me or by calling 6005 26846.
Send Now, Pay Later
We kindly request you to carefully read and understand this KFS if you are considering applying for SNPL. When we use ‘we’, ‘us’ or ‘our’, we mean Quantix Technology Projects L.L.C.
By providing your digital acceptance by ticking the electronic checkbox, you acknowledge that you have read and understood this KFS and the SNPL features and benefits, applicable fees, interest charges.
This KFS is an informative document providing you with indicative information about interest, fees and charges of this product and does not intend to create legal rights or obligations between the parties.
Please refer to the SNPL Terms of Use, the SNPL Credit Agreement, the SNPL Privacy Policy, the Debit Authorisation Agreement and all other terms and conditions relating to the SNPL communicated to you via the botim App and specified as forming part of your “Agreement” with us in respect of the SNPL service (together, the “Agreement“) for the final terms and conditions of your SNPL Loan.
Any credit limit that may appear on the botim App prior to confirmation is for illustrative purpose only and subject to final confirmation by us. If there is any discrepancy between this KFS and the Agreement, the Agreement will prevail.
1. Product Information | |
|---|---|
Type of Credit | Fixed rate unsecured personal loan (“Loan”) for the sole purpose of sending remittance(s) to third parties via the botim App (the “App”). |
Minimum Eligibility Criteria | Between twenty-one (21) and sixty (60) years of age; and Resident of the United Arab Emirates (UAE) with a valid Emirates ID Final approval of the SNPL Loan is subject to our internal risk criteria and policies and procedures, customer profile and credit history. |
Currency | AED (United Arab Emirates Dirhams) |
How and when credit would be provided | Upon approval of your SNPL loan application for your remittance, funding will be immediately available to you for remittance using the App. Each time you borrow funds under SNPL it is treated as a separate loan. Each new SNPL Loan application for your remittance will be subject to a SNPL Credit Agreement. |
SNPL Credit Limit | The maximum amount of credit made available to you for your requested remittance under the SNPL and notified to you upon approval of your SNPL Loan application. Any request for a remittance using SNPL that exceeds your approved SNPL Credit Limit will be rejected. We may vary the level of credit available to you for remittances. In certain circumstances, the amount of credit available to you for remittances may increase or decrease. |
Repayment Term | The period within which you must repay your SNPL, which may be within 1 month or up to 6 months (depending on the term of the SNPL Loan you select in SNPL Loan application). |
Monthly Repayments. | Your SNPL repayments are to be made in equal monthly instalments (each, an “EMI”). If the term of the SNPL exceeds 1 month, you will be required to make a monthly repayment (each monthly repayment will be an equal instalment) either (i) on the last Business Day of the month (if you make your remittance on or prior to the 10th day of a month) or (ii) on the last Business Day of the next month (if you make your remittance after the 10th of a month). If the term of the SNPL is 1 month, you will be required to pay the total amount used under the SNPL plus all applicable Interests: either (i) on the last Business Day of that month (if you make your remittance on or prior to the 10th day of a month) or (ii) on the last Business Day of the next month (if you make your remittance after the 10th of a month). The amount of your monthly repayments and the repayment dates will be notified to you via the App before you confirm any remittance using your SNPL Credit Limit. |
Total repayment amount | The total amount you have borrowed under the SNPL Loan for your requested remittance, plus total Interest and any applicable fees. |
2. Fees | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Interest (inclusive of VAT) | Interest is calculated as a flat rate applied to the SNPL Loan Amount. Interest payable under the SNPL depend on the term of the SNPL.
Interest is calculated on the basis of a 365-day calendar year and accrues daily from the day you utilise your SNPL credit for your requested remittance. | ||||||||||||||
Annualised Percentage Rate (APR)(Indicative) | Starting from 50% to 84%. APR (or Annualised Percentage Rate) is a reference rate, which includes applicable Interest as well as other fees and charges applicable to the SNPL expressed as an annualised rate. Loan APR is an important factor for you to evaluate the SNPL Loan. However, given that your SNPL Loan will have a term of less than twelve (12) months, the stated APR will be higher than the actual rate you pay over the term of your SNPL Loan.
| ||||||||||||||
Late Payment Fee (inclusive of VAT) | AED 50 on any repayment missed after the Late Payment Grace Period has run out. | ||||||||||||||
Grace Period | 4 calendar days For example, if your repayment is due on 12th May, the Grace Period runs until 16th May. During the Grace Period the repayment will be overdue, however no Late Payment Fee will be charged. | ||||||||||||||
Early Repayment Fee (inclusive of VAT) | 1% on the SNPL Loan Amount outstanding which is being repaid early. The Early Repayment Fee is payable on the date of the early repayment. | ||||||||||||||
| For the full and latest fees and charges, please visit the App. | |||||||||||||||
3. Representative Example
Example:
| Loan Amount | 1,000.00 |
|---|---|
| Interest rate | 25.00% |
| Term (in Months) | 6 |
| Start date | 01-Jan-25 |
| End date | 30-Jun-25 |
| First Month end Date | 31-Jan-25 |
| First Monthly Repayment Date | 31-Jan-25 |
| Days | 181 |
| Total Interest over the term of the SNPL Loan | 247.95 |
| Total repayment | 1,247.95 |
| Monthly Instalment (EMI) | 207.99 |
Please refer to the representative example of how payments are allocated between outstanding balance and Interests in the “Early Repayment” section below.
(The figures are examples for guidance and illustration purposes only.)
Your SNPL Credit Limit and the associated Interest may differ from the representative example shown above. It will depend on the term of your SNPL Loan, credit profile and our affordability assessment.
4. Important Terms Table | |||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Amendments | Your SNPL Credit Limit may vary from one SNPL Loan application to the next. We may also vary the terms and conditions of the SNPL in the future by posting the revised terms and conditions on the App. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Early repayment | You can at any time repay the amounts remitted under the SNPL in full prior to the Repayment Term. Note:
Example:
Please refer to the representative example of the 6-month repayment calculation table above. The example below shows the total amount you will be required to pay if you take out an SNPL Loan with a 6 month term and you wish to repay and terminate your SNPL Loan early during the course of the 3rd month. In these circumstances you will have already made two EMIs.
(The figures are examples for guidance and illustration purposes only.) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cooling Off Period and Waiver of Cooling Off Period | Warning: By entering into the SNPL Credit Agreement, you agree to waive your right to the 5 Business Day Cooling Off Period and you will immediately be irrevocably bound. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Termination | You may terminate the SNPL Loan at any time by repaying any outstanding balance under the SNPL Loan together with any applicable Interest and Early Repayment Fees (see above) prior to the expiry of the notice period specified in your notice of termination. | ||||||||||||||||||||||||||||||||||||||||||||||||||
5. Additional Information | |
|---|---|
Contact Information and Complaint | If you have any complaints or concerns about the Services or otherwise wish to contact us, please contact us via the App on botim Cares or call on +9714-2468825. Further information on our complaints handling policies and procedures can be found on the App. |
Credit Consultation and Credit Information | You accept and authorise us to collect financial data relating to you and your financial obligations to create a credit record and credit information report. We will inform you immediately and without charge if your SNPL Loan application is rejected on the basis of the credit information collected. |
6. Warnings | |
|---|---|
Consequences of missing payments | Warning: Missing payments has serious consequences. This could result in us asking you to repay the credit early and taking legal action against you for recovery of the debt and associated costs. If you do not meet the repayments/payments on your SNPL facility your account will go into arrears. This may affect your credit rating which may limit your ability to access financing in the future and/or make obtaining credit more expensive. Additionally, we reserve the right to take appropriate legal action against you for breaching your contractual obligations. |
Application Decline | We reserve the right to decline any customer SNPL Loan application at our sole discretion. |
Credit History | Your payment history in the credit bureau on other facilities or other banks will impact your ability to be granted an approval for SNPL. |
Income Reduction Risk | An income reduction due to change of employment or change of personal circumstances may impact your ability to repay the amounts used under the SNPL Loan. |
Early Repayment | You will have to pay penalties if you pay off a loan/financing early. |
Waiver of Cooling Off Period | Please see Section 4 for the Warning Statement in respect of the Waiver of the Cooling Off Period. |
7. Acknowledgment, Consent & Declaration | |
|---|---|
Customer Acknowledgement Consent | By ticking the electronic checkbox:
|
Easy Cash
The Easy Cash Facility is a financial solution designed to provide quick access to funds through a personal loan, helping you meet your immediate or planned financial needs. This facility allows you to borrow a specific amount and repay it in fixed monthly instalments over a predetermined period.
This Key Facts Statement (KFS) serves as a guide, offering clear and transparent information about the product. It includes details on:
- Interest Rates: An overview of the applicable interest rates, including how they are calculated and whether they are fixed or variable.
- Fees and Charges: A breakdown of any processing fees, administrative charges, late payment penalties, or any other costs associated with the loan.
- Repayment Terms: Information on the loan tenure, monthly instalment amounts, and any flexibility in repayment options.
- Eligibility and Requirements: The basic criteria for applying for the loan, such as income level, employment status, and documentation needed.
By reviewing this document, you will gain a clear understanding of the financial obligations associated with the Easy Cash Facility, helping you make an informed decision before proceeding with the loan.
Product: Easy Cash Facility
| Section | Details |
|---|---|
Loan Type | Credit Line |
Loan Amount | Up to AED 1,000 |
Loan Currency | United Arab Dirhams (AED). |
Loan Period | 3 months |
Interest Rate (indicative) | Fully fixed rate: Starting from 0.1% up to 0.3% on reducing balance per day. The rate will remain unchanged for the loan period. |
Annualised Percentage Rate (APR) (indicative) | Starting from 36.5% up to 109.5%. APR is a reference rate, which includes applicable interest, fees and charges of the product, expressed as an annualised rate. |
Loan Repayment | Repayments are made in monthly installments, covering both principal and interest. Interest accrues daily at 0.1% on the remaining principal balance. As you make repayments, the outstanding principal decreases, reducing the daily interest charged over time. If multiple orders are active, the total monthly bill will reflect the combined due amounts for all ongoing installments. The total repayment includes the borrowed principal and accumulated interest over the repayment period. |
Loan Processing Fee | No processing fee is charged. |
Early Settlement / Foreclosure / Partial Settlement Fee | No early settlement fee is charged. |
Late Payment Fee | Late Payment Fee: AED 5 + 0.4% of the overdue principal balance, capped at AED 50 per statement. |
Representative Example
| Type of Loan | Fully Fixed Rate (Reducing Balance method) |
|---|---|
Loan Amount | AED 300 |
Interest Rate | Fixed interest rate of 0.1% per day |
Annualised Percentage Rate (APR) | 36.5% |
Loan Period | 3 months |
Total Interest Amount | AED 18(Assumes repayment is made in 3 equal principal installments at the end of each month). |
Total Repayment Amount | AED 318 |
Repayment Plan | 1st Installment: 300*0.1*30=9+100=109 AED 2nd Installment: 200*0.1*30=6+100=106 AED 3rd Installment: 100*0.1*30=3=100=103 AED |
Early Settlement Fee | No early settlement fee is charged. |
Additional Information:
Please read this document carefully and sign only if you clearly understand and agree to the content of the Key Fact Statement (KFS), which is available in English and Arabic. You may also use this document to compare different Personal Finance options offered by other financial institutions. You have the right to receive KFS from other financial institutions for comparison.
This Key Facts Statement which is available in Arabic language also is provided to help you (you”,
“Customer or “Customer”) compare this Personal Finance with Personal Finance facility of other financial institutions. This is not an offer of credit facility.
Information provided by you in the application form has been used by Quantix Technology Projects LLC to prepare this Key Fact Statement.
Definition: “You”, “your”, “Customer “or “Customer ‘means the customer “We” “our” and “us refers to Quantix Technology Projects LLC licensed and regulated by the Central Bank of the UAE or “Quantix” or the “finance company” and/or its successors and assigns or to any “Affiliate” if any services are being provided by an Affiliate under the general terms and conditions for lending.
Warning!
By availing this product, you will be exposed to the following risks:
- You will become owner of the service, and you will be responsible for all the risks and rewards of the service.
- In case of late payments or non-payment of this Personal finance, you may be exposed to the following consequences and others:
- The Quantix will ask you for paying a late payment fee pursuant to your undertaking to donate in case of late payment.
- A negative Credit Information Agency rating and the possible limitations on the ability to borrow/obtain financing in the future.
- Collection measures Involving collateral, collection fees and claim on guarantees.
- Legal actions through the courts
- The customer irrevocably and unconditionally authorizes the Quantix to assign their account to any of its authorized collection agents situated either locally or internationally to contact, follow up and recover the due and outstanding amounts (inclusive of profit, fees and any other associated charges) along with filing of legal proceedings either inside or outside the country.
- Customer hereby authorizes the Quantix to assign any of its authorized collection agents either locally or internationally to contact, follow up and recover the due and outstanding instalment amount inclusive of profit, fees, and any other associated charges.
Split Pay
1. Product Information
Product Name |
Split pay facility (Split pay) on your botim Prepaid card (the Card) lets you convert your purchases into 4 equal monthly payments. When you use Split pay, a fixed fee (interest) is added to the purchase amount and the total is divided into 4 equal instalments that you pay every month.
|
Type of Credit |
The Split pay enables customers to make online, or in-store purchases, using the card and repay the utilised amount in four (4) equal monthly instalments through the botim App. All instalment amounts that become due within the same billing period are combined into a single monthly statement, which will show one total amount due and one payment due date. |
Eligibility Criteria |
|
Currency |
AED (United Arab Emirates Dirhams) |
When and How You Can Use Your Limit |
Upon activation of your Split pay Facility, a maximum set/ pre-determined limit will be made available to you for card transactions. Each utilization will be treated as a separate loan which will be reflected in your monthly Split pay statement. |
Split pay Limit |
The maximum amount of limit made available to you under the Split pay Facility and notified to you upon activation. You cannot use the Split pay facility beyond your approved limit. If a transaction exceeds your Split pay Limit, the transaction will be declined. A declined transaction will incur a nominal processing fee. |
Repayment Term |
Each Split pay utilization is repayable over a fixed tenure of four (4) months |
Repayment |
You will be provided with a monthly statement on the statement generation date (Statement Date), which will be communicated to you through the botim APP. The statement will include all eligible transactions processed under your approved Split pay limit during the relevant billing period. Each statement will set out the instalment amounts due for that billing cycle, together with any applicable interest, fees, or charges. The total amount shown as due in the statement must be paid on or before the payment due date (Repayment Due Date) specified in the statement. |
Monthly EMI |
Repayments of each Split pay Loans are made in four (4) equal monthly instalments (EMIs). The applicable repayment amounts and due dates will be reflected in your monthly statement generated under the Instalment Card Facility. Each EMI will comprise of principal repayment and applicable interest, calculated on reducing balance method. |
Repayment Due Date |
The repayment due date for each statement will be determined by the system at the time of card activation and will be communicated to you through the App. |
Total Repayment Amount |
The total amount payable by you will comprise:
|
Direct Debit |
To help you avoid missing a payment, repayments under the Split pay Facility may be handled automatically through an authorised payment method (your botim wallet or debit card). The amount due as shown in your statement will be automatically deducted on the payment due date, unless you choose to make a manual payment before that date.
If you make a manual payment before the payment due date, the automatic payment will be adjusted accordingly.
|
Usage |
We reserve the right to decline transactions, restrict and/or block your limit for reasons, including but not limited to: if we believe there is a suspicious transaction or the Card is compromised, if we believe you are no longer a UAE resident, payments are not up to date, or incorrect information has been provided by the customer. If the card is cancelled, or if you have missed or delayed payments, then the limit may be blocked. |
2. Interest and Fees
Interest (inclusive of VAT) | Interest is calculated as a fixed rate applied to the transaction amount. Fixed Monthly Interest Rate Interest is calculated on the basis of a 365-day calendar year and accrues daily from the day you utilise your limit. |
Annualised Percentage Rate (APR) – Indicative | Indicative APR is between ~75%-120% per annum. APR (or Annualised Percentage Rate) is a reference rate, which includes applicable Interest as well as other fees and charges applicable to the Split pay expressed as an annualised rate. APR helps you compare the cost of different credit products. For Split pay, the instalment period is less than 12 months, so the APR shown may appear higher than the actual cost you pay over the 4-month instalment period. |
Late Payment Fee (inclusive of VAT) | If you didn’t pay your previous statement in full, you will be required to pay a late payment fee. 9% of your outstanding principle in the statement or AED 200, whichever is lower, will be charged per statement that is not paid by the payment due date |
Grace Period | None. There is no grace period for repayment. The outstanding balance shown in your statement must be paid on or before the payment due date specified in your monthly statement. |
Early Settlement Fee (inclusive of VAT) | There is no early settlement fee charges if you repay your Split pay before the scheduled end date. |
For the full and latest fees and charges, please visit the botim App.
3. Representative Example for EMI
Example| Transaction Amount | AED 1,000 |
| Interest rate (Fixed rate for 4 month tenure) | 25.33% (6.33% per month) |
| Number of Instalments | 4 |
| Instalment Start Date (Transaction Posted Date) | 14-Jan-26 |
| Next Statement Due Date | 07-Feb-26 |
| Due Date Window (in Calendar Days) | 8 |
| First Monthly Repayment Date | 15-Feb-26 |
| Instalment End Date (Payment Due Date) | 15-May-26 |
| Days | 122 |
| Total Interest over the term | AED 250.68 |
| Total repayment | AED 1,250.68 |
| Monthly Equated Instalment (EMI) | AED 312.67 |
Cooling Off Period and Waiver of Cooling Off Period in respect of the Split pay Facility
A 5 Business Day Cooling-Off Period applies when you activate the Split pay Facility. If you choose not to waive your 5 Business Day Cooling Off Period, we only activate your Split pay Facility after the Cooling-Off Period ends. You may choose to cancel your activation anytime within the window.
Cancellation of Limit
You may choose to cancel your Split pay Facility limit any time by contacting us at customerservice@botim.me or call 6005 26846.
No cancellation fees are applicable. All outstanding balances, liabilities, fees and charges that have accrued will need to be paid. This includes repaying any Loans issued after the notice of cancellation was given.
4. Warnings ⚠️
Consequences of missing payments | If you miss or delay your payments, your account will go into arrears and late payment fees may apply. This may also be reported to Al Etihad Credit Bureau (AECB) and could negatively affect your credit score, which may limit your ability to obtain financing in the future or make borrowing more expensive. If payments continue to remain unpaid, we may require early repayment of the outstanding amount, start collection procedures, and take legal action through the courts to recover the outstanding debt and related costs. |
Decline of Activation | We reserve the right to decline any customer Split pay activation at our sole discretion. |
Credit History | Your payment history in the credit bureau on other facilities or other banks will impact your ability to be granted an approval for Split pay facility. |
Income Reduction Risk | An income reduction due to change of employment or change of personal circumstances may impact your ability to repay the amounts used under the Split pay facility. |
Waiver of Cooling Off Period | Please see Section 4 for the Statement in respect of the Waiver of the Cooling Off Period. |
Protect Your Account | To protect yourself from unauthorized use or fraudulent activities, do not share your personal information, PIN, passwords, OTPs, or any security details with anyone, including family members, friends, or third parties. If you allow another person to access your account or share your security information, you may be responsible for any transactions made using your account. |
Right to Suspend or Cancel the Facility | We reserve the right to suspend or cancel your access to your Split pay if your conduct is deemed unsatisfactory, in violation of the Central Bank of the UAE’s regulations, our Terms & Conditions, or if your KYC is not updated. |
5. Additional Information
If you have any complaints or concerns about Split Pay or otherwise wish to contact us, please contact us at customerservice@botim.me or call 6005 26846.
- If your botim Card is lost or stolen, or if you notice any unauthorized transaction, you must report it immediately by contacting us. Prompt reporting will help us block the card and take necessary steps to protect your account.
- Our Terms & Conditions (including any associated documents) and Privacy Policy must be read and adhered to in conjunction with this Key Facts Statement.
- You are responsible for:
- Keeping your communications and documents safe for future reference
- Checking your account and transaction statements regularly and informing us if you notice any errors or unauthorized transactions
- Keeping your contact and identification details up to date and informing us promptly if there are any changes. You may also be asked to confirm your details from time to time through secure verification methods
- You accept and authorise us to collect financial data relating to you and your financial obligations to create a credit record and credit information report. We will inform you immediately and without charge if your Split Pay activation is rejected on the basis of the credit information collected.
- We do not charge interest on accrued interest. Interest is charged only on the original amount used, in line with applicable regulations.
- We reserve the right to amend, delete, or cancel any item within the Terms & Conditions and this Key Facts Statement at a later date, with a notice period of sixty (60) calendar days
- All information provided by us is intended solely to aid your informed decision-making and should not be construed as a recommendation or specific advice.
WPS Salary Loan
KEY FACTS STATEMENT (KFS)
WPS Salary Loan
A WPS Salary Loan (Loan) is a personal loan offered through the Salary Loan application (Salary App), operated by Quantix Technology Projects LLC (Quantix). The Salary App is made available through mobile application (Botim App) operated by Algento DMCC (Botim). The Loan is available to customers whose salaries are processed via by the WPS service provide by Botim Money Technology LLC (Botim Money) and who receive their salaries into their stored value wallet operated by Botim Money (Botim Money Wallet). The Loan is designed to help meet your urgent financial needs in a timely manner and is structured as a short-term loan with a repayment of up to three (3) instalments, paid back through your future salaries or Botim Money Wallet balance.
This Key Fact Statement (KFS) gives you clear information about the interest, fees, and charges related to the loan, helping you make a well-informed financial decision before borrowing.
IMPORTANT: The Loan terms set out in this KFS represent a range of possible Loan terms that may be offered to you based on your creditworthiness, which includes but is not limited to, factors such as your salary and credit history. It is important that you review the final specific Loan terms offered to you and make an informed financial decision considering your specific circumstances.
By providing your signed acceptance of the Loan, you acknowledge that you have read and understood the features and benefits, applicable fees, interest charges applicable to the Loan and the related Credit Agreement.
| Salary Loan | |
| Description of the Loan | The Loan is a short-term cash loan available to customers who live in the United Arab Emirates and whose salaries are processed by WPS Provider and receive their salaries into Salary Account. The loan is repaid in equal, fixed monthly instalments, over a term of up to three (3) salary payments. |
| Loan Type | The Loan is a conventional loan and is not Shariah compliant. |
| Eligibility Criteria | In order to apply for the Loan, you must meet the following criteria Your age is between 21 and 55 years You are residing and working in the UAE with a valid Emirates ID that has a minimum validity of one month Your salary is processed through our WPS Provider and is credited into Salary Account You have a minimum monthly salary of AED 1000 You have a minimum service of 3 months with your current employer You have minimum 1 consecutive month of salary proceed through our WPS Provider You do not have any other active Loan with Quantix You meet our affordability assessment criteria |
| Loan Amount | The Loan Amount you are offered will be determined by your monthly salary and our assessment of your creditworthiness |
| Loan Period | The Loan Period ranges from a minimum of 1 instalment to a maximum of 6 instalments. The options available to you will depend on our risk assessment and your affordability |
| Currency | AED (United Arab Emirate Dirham) |
| Loan Repayment | Your Loan repayment is calculated on an Equated Monthly Instalment (EMI) basis and is fixed for the entire Loan Period. EMI is calculated by adding the principal loan amount and total interest and dividing this total by the Loan Period in months. This is done using a reducing balance method which means that as your loan balance reduces, with every EMI payment, the interest portion of your EMI will reduce. |
| Pay Day | Your Pay Day will be set based on your salary credit history from the past 1–3 months. If your Pay Day varies, we will use the latest date. If your Pay Day falls on the 29th, 30th, or 31st of a month, it will be adjusted to the 1st of the following month. |
| Repayment Schedule | Your Repayment Schedule will be based on your chosen loan period. The first repayment date depends on the timing of your next salary If your next Pay Day is 15 days or more from the loan approval date, the first repayment will be taken from that salary. If your next Pay Day is less than 15 days from the loan approval date, that salary will be skipped, and the first repayment will be taken from the following payday. Each instalment will be automatically deducted from your salary when it is credited, or from your available Wallet balance, in line with your repayment schedule. |
| Repayment Due Date | Each instalment will have a Repayment Due Date, which is the date by which payment must be received. If payment is not received by this date, the instalment will be treated as overdue. |
| Repayment Hierarchy | Your Loan repayments will be applied to the Loan balance in the following order: Late payment fees and all other charges Interest component; and Principal component |
| Processing Fee | The following processing fee shall be charged irrespective of the term of your Loan: 7.35% of the Principal Amount (inclusive of VAT) The Loan processing fee is only charged if your Loan is approved and will be automatically deducted from the Loan proceeds disbursed to you. The Loan processing fee compensates Quantix for costs associated with providing your Loan. |
| Interest Rate (Indicative) | The interest rate depends on your risk level, as determined by our assessment, and the number of instalments you choose. The rate is fixed will be calculated on a reducing balance basis. Once set, the interest rate will remain the same for the entire loan period. |
| Annualised Percentage Rate (APR) (Indicative) | Starting from 43.41% depending on your credit profile. The Annualised Percentage Rate (APR) is a reference rate, which includes applicable interest, fees and charges of the product, expressed as an annualised rate. The Loan APR is an important factor for you to evaluate the Loan. However, given that your Loan will have a term of less than six (6) months, the stated APR will be higher than the actual rate you pay over the term of your Loan. |
| Late Payment Fee | An instalment is considered overdue the day after its repayment due date. A grace period of 4 calendar days is allowed from the repayment due date before a late payment fee is applied. If payment is not received within the grace period, a late payment fee will be charged for each missed instalment. The late payment fee is 5.25% of the overdue instalment amount (inclusive of VAT), subject to a minimum of AED 20 and a maximum of AED 200 per missed repayment. |
| Early Settlement Fee | An Early Settlement fee of 1.05% (inclusive of VAT) of your Loan's outstanding balance will be charged to you if you repay your loan early in accordance with "Early Settlement" below. |
| Extension Fee | WPS Loans are not eligible for extensions |
| Representative Example | |
| Loan Amount | AED 1,600 |
| Processing Fee | AED 112 + 5.60 (5% VAT) |
| Interest Rate | 5% flat rate |
| Annualised Percentage Rate (APR) | 57.76% APR |
| Loan Period | 3 Instalments |
| Total Interest Amount | AED 80.00 |
| Total Repayment Amount | AED 1,680.00 |
| EMI (Equated Monthly Instalment) | AED 560.00 per instalment |
| Early Settlement Fee | If outstanding principal amount AED 1,000, Early Settlement Fee is AED 10.50 (1.05%) |
Other Terms
| Conditions under which the above charges can be changed. | We may vary the charges set out above in the future, and any such changes will be reflected in an updated version of this KFS and will be shared with you each time you apply for a loan with us. These changes may be based on a number of factors. Such factors might include behaviour on your lending products that suggests that you are becoming a higher-risk or lower-risk customer. Other valid reasons include where there is a change in our funding costs or if there is a change (or we reasonably expect a change) in law, regulatory, or industry code requirements. |
| Early Settlement | Due to the nature of short-term loans, early settlement per instalment or partial payment is not allowed. Full early settlement is not allowed before the restricted period of the original Loan duration stated in your Credit Agreement. If you need a full early settlement after the restricted period, you can contact our customer service on customerservice@botim.me or 6005 26846 to inquire about the total amount to pay. |
| Cooling Off Period | You have the right to cancel the loan within 5 calendar days of signing and submitting your application. The loan will not be disbursed until this period ends, unless you choose to waive it. You can cancel or waive the cooling-off period directly through the App. |
| Consequences of Missing Payments | If we fail to receive your repayment from your salary credits and/or wallet balance, or otherwise breach the Loan terms, this will be a default and we will be entitled, among other things, to: (a) Cancel the Loan and demand full repayment of the entire Loan amount and fees immediately; (b) Freeze your account with Quantix with no access to additional loans and/or commercial benefits; (c) Report the default to the appropriate regulatory authorities including the UAE Central Bank and Al Etihad Credit Bureau and credit rating agencies, which may affect your credit rating; and (d) Bring legal proceedings against you or pursue any other remedies available to us at law. |
| Changes to Your Terms and Conditions | We reserve the right to make changes to our applicable terms and conditions after you have signed them: (a) immediately where we are required to do so under Laws or applicable Regulations; or (b) by providing you with 60 days’ advance notice if the change is for one of the specified reasons set out in the relevant terms, for example, to reflect a change in industry code or market practice, a change in the way we do business (e.g. introducing new or changing existing technology or the platforms on which our services are provided), changes to our product or services features (including how we operate them), changes to our internal policies, changes which are beneficial to you or which make the terms clearer for you. We may also make changes to eligibility criteria, terms and conditions, fulfilment and scope of the benefits, rewards and loyalty programs offered in the App. We will send you notifications where these are managed solely by us. In other cases, (including where they are managed in part by third parties) we will provide you with notice where it is reasonably practicable for us to do so. We’ll treat your non-objection or continued use of our product as your acceptance of the changes. |
| Interest on accrued interest | Interest on your Loan does not compound and we will not charge you any interest on accrued interest. |
| Contact Information | For any inquiries, assistance, or complaints, contact us on customerservice@botim.me or 6005 26846 |
| Credit Consultation and Credit Information | You accept and authorise us to collect financial data relating to you and your financial obligations to create a credit record and credit information report. We will inform you immediately and without charge if your credit application is rejected on the basis of the credit information collected. |
Additional Information:
1. Our Terms and Conditions (including any associated documents) and Privacy Policy must be read and adhered to in conjunction with this Key Facts Statement. These documents were made available to you via the SalaryNow Application prior to submission of your Loan application.
2. You authorize Quantix (and Botim Wallet) to debit your Wallet towards the entire outstanding amount against the Loan and acknowledges that the amount will be automatically withdrawn, and any applicable fee will be debited from the Wallet without referring to you for your approval.
3. In case of any negative variance, i.e. reduction/deduction of salary amount credited to your Wallet in any months subsequent to date of loan approval, Quantix reserves the right to debit any available balance in your Wallet as and when it becomes available (covering, but not limited to, salary credits, End-Of-Service (EOS), top-ups, transfers, refunds and such) towards outstanding repayment of your loan that will include any applicable fees, interest and principle and/ or to reduce the loan amount for future loans at its own discretion without prior notice to you.
4. We reserve the absolute right to amend, delete, or cancel any terms and conditions within the Terms and Conditions and this Key Facts Statement at any time, with a minimum notice period of sixty (60) calendar days.
5. All information provided by us is intended solely to aid your informed decision-making and should not be construed as a recommendation or specific advice.
6. You are required to submit all necessary documents, including your Emirates ID, in a format that meets our requirements.
7. The Loan amount you are eligible for and the interest rate offered may differ from the representative example shown above. This will depend on your credit profile and affordability assessment done by the us.
8. We reserve the right to amend our Terms and Conditions for financing products (including any relevant applications and documents) by providing notice in accordance with applicable laws and regulations.
9. If you fail to meet your obligations as set out in the Terms and Conditions and the Credit Agreement during your relationship with us, there may be consequences, including but not limited to penalties.
10. We may debit your account for any applicable charges, expenses, or commissions related to financing services, in line with the approved and announced fees and charges, as communicated to you from time to time.
11. For any enquiries, assistance, or complaints, you can contact our customer support team on customerservice@botim.me or 6005 26846.
WARNING! ---
| Warning: If you do not meet the monthly repayments on your loan, your account will go into arrears and incur a late payment fee, and it will affect your credit score and limit your ability to access loans in the future. |
WARNING! ---
| Warning: We reserve the right to decline any customer application at our sole discretion. |
Electronic consent:
By proceeding with the Loan application, you acknowledge and agree that:
any electronic method of acceptance used by us in connection with our products and services (including, without limitation, use of digital or electronic signatures, indications of acceptance by ticking a check box on electronic forms or digital platforms) (Electronic Consent) shall constitute full and binding legal acceptance by you of any applicable terms and conditions as well as any future changes, amendments or supplements to such terms and conditions as maybe applicable from time to time, as if you had accepted such terms and conditions in writing;
all relevant laws and regulations applicable to acceptance of contracts via electronic methods will apply and you acknowledge that our records as to any such form of Electronic Consent shall be binding and shall not be challenged on the basis that they are available only in electronic or digital format; and
no certification authority or other third-party verification is necessary to validate your Electronic Consent and that the lack of such certification or third-party verification will not in any way affect the enforceability of your Electronic Consent or the validity of terms and conditions between us and you.
ACKNOWLEDGEMENT, CONSENT AND DECLARATION
I hereby irrevocably and unconditionally declare that I have read the above Key Facts Statement and clearly understand all the information and references provided herein.