Sidi Wallet Account Terms & Conditions
First: Special Conditions According to the Type of the Account
- This account can be opened only in Kuwaiti Dinar to Non-Kuwaiti individuals only taking into consideration the following exclusions:
- Kuwaiti Citizens
- American Citizens and US residents
- Minors under 18 years
- Special needs People
- Politically exposed Persons (PEPs) and their families up to second degree
- Persons who are stateless (illegal residents – Bedoon)
- Customers with monthly Salary above 400 KWD
- Agents by general power of attorney
- No minimum balance required to open the account
The credit balance in this account is a “Qardh Hassan” (interest-free loan), and Warba Bank is obligated to pay the entire credit balance on demand.
Third: Credits and Debits
- A debit card will be delivered to the customer and will be used for the account only in cash withdrawal transactions from Warba Bank ATMs or the other ATMs of local banks or Knet Company or the other machines deployed in the whole world. The customer may also use the card for online payment of the value of purchases through point-of-sale devices available at the commercial stores in Kuwait by way of debit from his credit balance.
- The account holder is the only one who may withdraw in cash from the available account balance or to make International transfers, transfer to another account in Warba Bank.
Fourth: Profits and Losses
The balance of this account is deemed to be a “Qardh Hassan” and thus it will not incur profits, nor will it be charged with losses.
Fifth: Other Conditions
- The customer may transfer his salary to the account.
- The customer will not be able to withdraw the amounts credited to his account under collection unless such amounts shall be collected.
- Warba Bank is entitled to deny the credits in the account.
- The account holder may close the account, conditionally there will be no claims or liabilities on the account.
- The account is deemed to be dormant if not activated for one year and the Customer must report to the call center for reactivation of the account.
- The legal age for opening this account for individuals is 18 years and above.