Wallet Services General Terms and Conditions

I. INTRODUCTION

I. Introduction

These General Terms and Conditions for Dubai Card Wallet Services (“General Terms”) establish the contractual relationship between you (“Client” or “you”) and any holding company, subsidiary, or affiliated entity of the Dubai Card group of companies (“Dubai Card” or “we”). In this document, you and Dubai Card are individually referred to as a “Party” and collectively as the “Parties.” These General Terms govern your use of the services provided by Dubai Card and constitute a legally binding agreement (“Agreement”) between the Parties.

Please read these General Terms carefully before using any services provided by Dubai Card to fully understand your rights and obligations. By using these services (including merely completing the sign-up process), you explicitly agree to these General Terms and enter into a contractual relationship with Dubai Card.

II. Definitions

For the purposes of these General Terms, the following definitions apply:

Applicable Law: Refers to any law, statute, regulation, ordinance, treaty, guideline, policy, or directive issued by a governmental or regulatory authority. This includes, but is not limited to, the governing law of these General Terms and any provisions related to Dubai Card Wallet Services.
Business Day(s): Any day(s) when banking institutions in the relevant jurisdiction are open for regular business activities, typically excluding Saturdays, Sundays, and public holidays.
Digital Assets: Refers to any digital assets, such as cryptocurrencies or stablecoins, that are accepted and supported by Dubai Card. These are subject to changes, restrictions, or prohibitions at any time.
Fork: A software modification to the underlying protocol of a Digital Asset network.
Intellectual Property: Any intellectual or industrial property rights owned by Dubai Card, including trademarks, service marks, logos, copyrights, know-how, research, publications, agreements, trade names, and company names.
Dubai Card Account: A personal or business account opened with Dubai Card, enabling you to access and use Dubai Card Wallet Services.
Dubai Card: A virtual or physical card issued under the Dubai Card brand. This card may be used in certain jurisdictions in connection with Dubai Card Wallet Services.
Dubai Card Exchange Service: A service provided by Dubai Card that facilitates exchange transactions. The proceeds from these transactions (in the form of Digital Assets) are credited to your Savings or Credit Wallet in your Dubai Card Account, subject to the relevant terms and conditions.
Dubai Card Platform: Refers to any official Dubai Card website, mobile application, or other communication channel. This includes all content, services, updates, upgrades, and versions made available through these channels.
Dubai Card Wallet Services: The collective term for all services offered by Dubai Card via the Dubai Card Platform.
Personal Data: Information about you that is required for identity verification, use of Dubai Card Wallet Services, and compliance with applicable regulatory requirements.

Unless otherwise stated, terms not defined in these General Terms shall have the meanings assigned to them in the Dubai Card General Terms and Conditions.

III. Dubai Card Wallet Services

The Dubai Card Wallet Services include the following:

Digital Asset Wallet: A secure wallet for storing all Digital Assets approved and supported by Dubai Card (“Digital Asset Wallet”).
Dubai Card Exchange Service: Facilitates the exchange of Digital Assets and the crediting of proceeds to your Dubai Card Account.
Dubai Card Transfer Service: Allows for the transfer of Digital Assets between Dubai Card Accounts or to external recipients.
Incentive Programs: Any rewards or promotional programs offered by Dubai Card through the Dubai Card Platform or accessible via your Dubai Card Account.
Additional Products or Services: Any new products or services launched via the Dubai Card Platform or accessed through your Dubai Card Account.

Some features of the Dubai Card Wallet Services, or certain Digital Assets, may be unavailable to specific clients or within particular jurisdictions. These restrictions are outlined in your Dubai Card Account and on the Dubai Card Platform.

Accessing your Dubai Card Account allows you to:

(iv) Perform additional actions related to these services.

(i) Request Dubai Card Wallet Services.
(ii) View your balance and transaction history.
(iii) Top up, withdraw, or transfer Digital Assets (where applicable), subject to revisions made at our sole discretion.
(iv) Perform additional actions related to these services.

II. DEFINITIONS

Applicable Law means any law, statute, regulation, ordinance, treaty, guideline, policy and act issued by any governmental or regulatory authority, including but not limited to the governing law under of these General Terms and/or any provision of the general terms and conditions of the relevant Dubai Card Wallet Service.
Business Day(s) means any day(s) when banking institutions in the relevant jurisdiction are open for normal business activities (which usually means any day(s) except Saturday, Sunday or a public holiday).
Digital Assets means any digital assets (such as cryptocurrencies, stablecoins ), accepted and supported by Dubai Card , and subject to revision, prohibitions and limitations at any time.
Fork means a software change to the underlying protocols of the Digital Assets’ networks.
Intellectual Property means any intellectual and industrial property rights, belonging to Dubai Card , for example, trademarks, service marks, logos, copyright and related rights, know-how, research, publications, agreements, trade and company names, etc.
Dubai Card Account means a personal or business account, opened with Dubai Card , through which you can use the Dubai Card Wallet Services.
Dubai Card means a virtual or physical card issued under the brand name of Dubai Card , which can be used in certain jurisdictions, as the case may be, in relation to Dubai Card Wallet Services..
Dubai Card Exchange Service means the execution by Dubai Card of exchange transactions and the topping up of the proceeds thereof, respectively the Digital Assets, into the Savings or Credit Wallets of the Clients’ Dubai Card Accounts, as the case may be, in accordance with the relevant general terms and conditions, as well as the related Dubai Card Wallet Services offered by Dubai Card through the Dubai Card Platform.
Dubai Card Platform means any Dubai Card website, mobile application and any other official Dubai Card communication channel, including the content and services made available on or through the same, and any updates, upgrades, and versions thereof.
Dubai Card Wallet Services means all services provided by Dubai Card through the Dubai Card Platform.
Personal Data means any information about you that is necessary, among other things, for verification of your identity, use of the Dubai Card Wallet Services, and compliance with regulatory requirements.

Unless stated otherwise, references shall be made to the Dubai Card General Terms and Conditions, and all the terms, used in these General Terms and not defined herein, shall have the same meaning as the one given to them in the Dubai Card General Terms and Conditions.

III. Dubai Card WALLET SERVICES

The Dubai Card Wallet Services comprise of:
1. Digital Asset wallet wherein all the Digital Assets approved and supported by Dubai Card can be stored by you (“Digital Asset Wallet”);
2. Dubai Card Exchange Service;
3. Transfer of Digital Assets from one Dubai Card Account to another, or to an external recipient (“Dubai Card Transfer Service”);
4. Any incentive program offered by Dubai Card that may be launched via the Dubai Card Platform or accessed through your Dubai Card Account;
5. Any other product or service that may be launched via the Dubai Card Platform or accessed through your Dubai Card Account.
All or part of the Dubai Card Wallet Services, some features thereof, or some Digital Assets, may not be available to certain Clients or Digital Assets, to the extent applicable, at any time, as indicated in the Dubai Card Account and on the Dubai Card Platform.
The access to your Dubai Card Account will allow you to: (i) request a Dubai Card Wallet Service; (ii) view your balance and Transaction History; (iii) top up, withdraw and transfer Digital Assets, for which such options are available on the Dubai Card Platform and in the Dubai Card Account, and subject to revision from time to time at our sole and absolute discretion; (iv) perform other actions in relation to the above.

IV. ONBOARDING

By opening a Dubai Card Account and/or using the Dubai Card Wallet Services, unless otherwise specified in the relevant terms and conditions, you acknowledge and confirm the following:

Ownership and Beneficial Interest
You are the sole beneficial and/or legal owner of any Digital Assets topped up or to be topped up into your Dubai Card Account or the fiat currency used or intended to be used for purchasing such Digital Assets, as applicable under these General Terms.

You are the exclusive beneficial owner of your Dubai Card Account and do not act on behalf of or represent any other individual or legal entity.
Compliance with Applicable Laws
You comply with all relevant legal requirements applicable to you and your use of Dubai Card Wallet Services, including but not limited to tax obligations, exchange control regulations, and registration requirements.
Agreement to Privacy Policies
You have read, understood, and agreed to Dubai Card’s Privacy Policy and Cookies Policy.
Account Restrictions
You are not permitted to
Open more than one Dubai Card Account.
Open a new Dubai Card Account if your previous account has been suspended, limited, or terminated by Dubai Card.
Verification Requirements
When requesting to open a Dubai Card Account, you must provide all necessary information and/or documents as requested by Dubai Card or its authorized representatives.

Dubai Card, or any third party acting on its behalf, may verify the information and/or documents you provide using secure databases, to which you explicitly consent by entering into this Agreement.

You authorize Dubai Card to perform electronic identity verification checks, either directly or through third parties, at the time of entering into this Agreement or any time thereafter.
Right to Refuse Services
Dubai Card reserves the right to refuse to open your account or grant access to Dubai Card Wallet Services or any part thereof.
Accuracy of Information
You represent and warrant that all information provided to Dubai Card is accurate, complete, and up-to-date at all times.
If any of your information changes, you must promptly notify Dubai Card and provide updated information without delay.
Verification Updates
If Dubai Card requires confirmation that the information it holds about you is accurate and up-to-date, it will contact you for additional information or request that you repeat the verification process.

Failure to complete these steps or to provide updated information may result in Dubai Card’s inability to offer its services to you, and Dubai Card will not be responsible for any resulting losses.
Responsibility for Hardware and Security
You are responsible for obtaining and maintaining the necessary hardware and software, including security and antivirus measures, required to use Dubai Card Wallet Services in compliance with these General Terms.

You are solely responsible for the safety of your device and for maintaining security and control over your username and password.

You bear full responsibility for any unauthorized access to or use of Dubai Card Wallet Services via your device, regardless of whether such access occurred without your knowledge, authorization, or consent. Dubai Card will not be liable for any resulting loss or damage.
Lost or Compromised Devices
If your device is lost, stolen, or accessed/used without authorization, you must promptly notify Dubai Card.

In the event of unauthorized access or use, you should reset your password as soon as possible to secure your account.

V. TOPPING-UP OF DIGITAL ASSETS

You can top up Digital Assets into your Dubai Card Account at any time by transferring them from your personal wallet to your Digital Asset Wallet. Specific minimum amount requirements for each Digital Asset may apply, as indicated on the Dubai Card Platform.

Responsibilities for Topping-Up
Correct Wallet Address: Ensure you use the correct address for your Digital Asset Wallet when initiating a transfer.
Supported Digital Assets: Confirm that the Digital Assets you intend to top up are approved and supported by Dubai Card, and are not subject to any prohibitions or limitations, as outlined in your Dubai Card Account and on the Dubai Card Platform.

Failure to comply with the above may result in irretrievable loss of your Digital Assets. Transfers to an incorrect address, or transfers involving unsupported or restricted Digital Assets, are irreversible, and Dubai Card will not be held liable for such losses.
Transfer Confirmation
A transfer to your Digital Asset Wallet is confirmed once the corresponding amount is reflected in your wallet balance. However, Dubai Card reserves the right to reject any transfer. In such cases, the same amount of the relevant Digital Asset will be returned to the originating wallet.
Purchasing Digital Assets
If you lack the necessary Digital Assets for topping-up, or if restrictions apply, you may:

Transfer the required fiat currency to a designated Dubai Card bank account via bank transfer.
Use a credit or debit card to initiate a purchase transaction.
Instruct Dubai Card to proceed with the purchase and/or initiate an exchange transaction under the Dubai Card Exchange Service General Terms and Conditions.

All fees and charges, including those for bank transfers or card payments, are at your expense unless otherwise stated on the Dubai Card Platform. Third-party service provider terms govern any such transactions. Once purchased or exchanged, the relevant Digital Assets will be credited to your Digital Asset Wallet and can be used accordingly.
Transaction Irreversibility
Once you provide instructions or payments for a transaction, it becomes final and cannot be changed, withdrawn, or canceled. Any pending or partially completed transactions, or delays in processing, are not the responsibility of Dubai Card.

VI. WITHDRAWAL

Subject to the terms specified in the Dubai Card General Terms and Conditions, you may request the withdrawal of all or part of your Digital Assets, except those used as collateral, to your personal wallet.

Withdrawal Limits and Processing Times
Limits: Withdrawals are subject to limits specified on the Dubai Card Platform, which may be revised at Dubai Card’s sole discretion.
Processing Time: Requests within the set limits will generally be processed within a few days.
Exceptions for Larger Withdrawals
For withdrawals exceeding the specified limits or in cases where technical delays occur, Dubai Card may require additional time to ensure the safety of your Digital Assets and any applicable interest. However, Dubai Card strives to process such requests no later than 72 hours from the time of the request.

VII. DIGITAL ASSETS TRANSFERS

You can transfer Digital Assets, except those used as collateral or those subject to transfer prohibitions or limitations, as indicated in your Dubai Card Account and on the Dubai Card Platform, from your Digital Asset Wallet to a designated third-party wallet.

Transfer Instructions and Irreversibility
Processing of Transfers: Dubai Card processes all Digital Asset Transfers based solely on the instructions you provide. We do not guarantee the identity of the recipient.
Verification of Information: You are responsible for verifying all transaction details before submitting instructions for a transfer.
Irreversible Transactions: Once a transfer is processed by Dubai Card, it cannot be canceled or reversed. You acknowledge that any errors in the provided instructions, such as incorrect wallet addresses, may result in the irreversible loss of your Digital Assets.
Sufficient Balance Requirement
Before instructing Dubai Card to process a transfer, ensure that your Digital Asset Wallet contains sufficient assets to cover the transaction. If the required balance is insufficient, the transfer will be rejected. By submitting a transfer request, you authorize Dubai Card to debit your wallet for the full amount needed to complete the transaction.
Liability for Goods or Services
No Control Over Third-Party Transactions: Dubai Card does not control or take responsibility for the delivery, quality, safety, legality, or any other aspects of goods or services purchased or sold using Digital Assets transferred from your Digital Asset Wallet.
Third-Party Disputes: Dubai Card is not responsible for ensuring that the third-party buyer or seller completes their part of the transaction or has the authority to do so.
Dispute Resolution: If you encounter any issues with goods or services purchased or sold to a third party, or if a dispute arises, you must resolve the matter directly with the third party involved.

VIII. RISK DISCLOSURE

Digital Assets are inherently volatile compared to most fiat currencies and other traditional assets. This unpredictability can lead to significant financial losses over a short period. Dubai Card does not control the Digital Assets market and makes no guarantees or representations regarding the value, quality, accuracy, or reliability of any Digital Asset or related data provided by Dubai Card. You should carefully evaluate whether holding or transacting in Digital Assets aligns with your financial situation and risk tolerance.

Nature of Digital Assets
Non-Legal Tender: Digital Assets are not money or legal tender. They are not backed by any government, central bank, or physical assets and often lack intrinsic value, revenue streams, or other sources of stability.
Market Dependency: The value of Digital Assets depends on the willingness of market participants to exchange them for fiat currencies. If such markets collapse, the value of specific Digital Assets could disappear entirely.
Regulatory Uncertainty
The regulatory status of Digital Assets is unclear and varies across jurisdictions. Changes in legislation or regulatory actions at the local, state, or international level could restrict or negatively impact:
The use, transfer, or exchange of Digital Assets.
The value of Digital Assets.
The provision of Dubai Card Wallet Services or related services.
Transaction Characteristics
Recording on Public Ledgers: Digital Asset transactions are often considered complete once recorded on a public ledger, which may not align with the exact date or time you initiated the transaction. Ownership of Digital Assets is typically verified through decentralized public ledgers, and such transactions are usually irreversible.
Fraud and Cybersecurity Risks: Digital Assets are susceptible to fraud, cyberattacks, and accidental transactions. Losses arising from these events are often unrecoverable.
No Investment Advice
Dubai Card does not provide investment advice. Information from Dubai Card should not be used as the sole basis for making investment decisions related to Digital Assets. You are encouraged to consult independent financial advice before engaging in Digital Asset transactions.
Legal Compliance
You are solely responsible for determining the legality of using Dubai Card Wallet Services in your jurisdiction. If such use is prohibited, you must refrain from accessing or utilizing these services. If unsure, seek independent legal advice before proceeding.
Use at Your Own Risk
By using the Dubai Card Account and Dubai Card Wallet Services, you acknowledge and agree that you do so at your own risk. This section does not cover all potential risks associated with Digital Assets or the use of Dubai Card Wallet Services. You should carefully assess whether such activities are appropriate for you, considering your individual circumstances and financial resources.

IX. FORKS

Digital Assets networks are governed by underlying protocols that may undergo sudden changes in their operating rules. These changes, often initiated by third parties, can lead to the creation of a copy of the network and modifications to its operating rules or other features. As a result, multiple versions of the network may emerge, producing more than one version of the Digital Asset. Such events, commonly referred to as “forks,” can impact both the value and functionality of the original Digital Asset.

Impact on Services
In the event of a fork, Dubai Card may temporarily suspend services to assess the situation and determine, at its sole and absolute discretion, which network or version of the Digital Asset to support.
Dubai Card is not obligated to support any specific network or version of a Digital Asset resulting from a fork.
Unsupported Digital Assets
Networks and Digital Assets created through forks are beyond Dubai Card’s control. Dubai Card may choose, at its sole and absolute discretion, to abandon or not support either the original Digital Asset or its forked version.I
n such cases, Dubai Card may obtain and retain any unsupported Digital Assets without any obligation to distribute or credit them to clients.

X. Obligations and Warranties
You declare, warrant, and confirm the following:

Your Commitments
Compliance: You meet all conditions outlined in Section IV and validly undertake actions and transactions under this Agreement.
Legality: Digital Assets or funds topped up into your Dubai Card Account are not derived from illegal activities (e.g., money laundering, terrorist financing, or fraud).
Accuracy: All information and documents submitted to Dubai Card are complete, accurate, and up-to-date.
Tax Responsibility: You are responsible for adhering to your jurisdiction’s tax regulations, including filing, reporting, and paying taxes. Dubai Card does not provide tax advice or compensation for your tax obligations. You indemnify Dubai Card against any uncertainties in tax legislation relating to Digital Assets.
Risk Acknowledgment: You use the Dubai Card Account, Platform, and Wallet Services at your own risk.
Your Undertakings
You agree to:

Use the Dubai Card services in good faith and in compliance with all applicable laws, policies, and agreements.
Avoid fraud, misrepresentation, or any malicious or criminal activities.
Refrain from unauthorized use of the platform, including spamming, transmitting viruses, or attempting unauthorized access to accounts or systems.
Provide accurate, up-to-date information and inform Dubai Card of any changes within one day.
Prevent unauthorized third-party access to your account or sensitive data.

XI. Dubai Card Affiliate Program
The Dubai Card Affiliate Program applies to clients referring new clients (“Referred Clients”) who have not previously opened Dubai Card Accounts.
Participation is non-transferable and cannot be sold or gifted.
Dubai Card reserves the right to modify the program’s terms and conditions at any time. Changes are effective upon publication on the Dubai Card Platform unless otherwise stated.

XII. Refusal, Suspension, or Termination of Services
Dubai Card may, at its sole discretion:

Refuse to process or cancel service requests, especially for compliance with Applicable Law.
Impose limits on topping up Digital Assets or terminate/suspend services for reasons including:
Breach of terms or Applicable Law.
Regulatory or court orders.
Suspicion of illegal activities.
Maintenance, system issues, or eligibility changes.
Suspended accounts may result in frozen Digital Assets until the issue is resolved. Dubai Card is not liable for any losses during suspension or termination.

XIII. Personal Data
Dubai Card collects, processes, and stores your Personal Data to provide Wallet Services in accordance with its Privacy and Cookies Policies.
You may withdraw consent by closing your account, but Dubai Card may retain data to comply with Applicable Law.

XIV. Limitation of Liability
“As Is” Services: Wallet Services are provided without warranties unless expressly stated.
No Liability: Dubai Card is not liable for losses resulting from external events (e.g., force majeure, system interruptions, unauthorized access, regulatory compliance).
Indirect Damages: Dubai Card is not responsible for incidental, punitive, or consequential damages (e.g., lost profits, data loss).
Liability Cap: Aggregate liability is limited to the fees you paid to Dubai Card in the 12 months preceding the event causing the claim.

XV. Default and Indemnification
Default Events: Breach of obligations, illegal actions, or failure to maintain contact constitutes default, allowing Dubai Card to terminate the Agreement or take necessary action.
Indemnification: You agree to indemnify Dubai Card against claims, losses, and damages arising from your breach of terms or unlawful use of services.

XVI. Termination
Termination Grounds: The Agreement may be terminated by account closure or discontinuation of services by Dubai Card.
Recovery: Digital Assets in suspended or closed accounts may be recovered unless prohibited by law or linked to illegal activity.

XVII. Notices and Communications
Communication: Notices from Dubai Card are valid when sent to your email, mailing address, or phone. Client notices to Dubai Card must be sent via email in English.
Responsibility: You are responsible for the security of all instructions sent through the platform.

XVIII. Governing Law and Jurisdiction
The Agreement is governed by Dubai Card’s jurisdiction laws.
Disputes are resolved individually under competent courts, excluding class or representative actions.

XIX. Miscellaneous
Fees: Service fees are exclusive of taxes and may be adjusted by Dubai Card.
Intellectual Property: All rights belong exclusively to Dubai Card and require prior written consent for use.
Amendments: Terms may be updated at any time and are effective upon publication on the platform. Continued use indicates acceptance.
Severability: Invalid provisions do not affect the validity of remaining terms.
No Fiduciary Duty: Dubai Card does not act as your trustee or investment adviser.
Assignment: Dubai Card may transfer this Agreement without notice, while clients cannot assign their rights without consent.
Language: The Agreement is in English, and the English version prevails in case of translations.