PRODUCT DISCLOSURE SHEET

Please read this Product Disclosure Sheet (PDS) before you decide to take up KAF Digital Bank Berhad (Bank)’s Savings Account-i. Be sure to also read the Terms and Conditions (T&C) for this product. Kindly seek clarification from the Bank if you do not understand any part of this document. 

KAF DIGITAL BANK BERHAD 

Savings Account-i 

Date: 20 December 2024

1. What is this product about? 

Saving Account-i is an Islamic Deposit Account based on the Shariah contract of Qard.

The Shariah contract of Qard which refers to a contract of lending money by the lender (Customer) to the borrower, i.e. KAF DB (the Bank) where the latter is bound to repay an equivalent replacement amount to the lender. A Qard contract is created when ownership of a sum of money belonging to the Customer is transferred to the Bank, and the Bank is responsible for repaying the Customer in full.

Principal Protection

Savings Account-i under the concept of Qard is protected by Perbadanan Insurans Deposit Malaysia (PIDM) up to RM250,000 for each depositor. Please refer to http://www.pidm.gov.my/ for more information

2. What are the fees and charges I have to pay? 

Early closure fee:

 Dormant account fee: 

Hardcopy statement: 

RM20, early closure within three (3) months from account opening

For balances of RM10 or more, annual service fee of RM10 until the balances are exhausted or up to seven (7) years. 

For balances lower than RM10, the credit balance shall be deducted as annual service fee and the Islamic deposit account shall be closed automatically thereafter. 

RM10, per request for hardcopy statement 

RM5.30, courier post to peninsula Malaysia 

RM12.20, courier Post to Sabah or Sarawak 

3. What do I get from this product? 

4. Key Terms and Conditions 

1. The Bank is bound to repay the whole sum standing to the credit of the Customer’s account upon demand by the Customer.
2. The Bank may at its discretion give a gift (Hibah) to the Customer as a token of appreciation for opening the Islamic Deposit Account.
3. Any record of transaction relating to the Customer’s the Islamic Deposit Account shall be binding and conclusive evidence of the transaction and the Customer’s liability to the Bank.
4. The Customer agrees and undertakes not to disclose the access identity and passcode/password to any other person For further information, please refer to the T&Cs available at our website: www.kafdigitalbank.com.my 

5. What are the major risks? 

The Bank’s Customer may experience risks arising from the performance of a deposit 2 transaction, transfers and also QR related payment with any banking institutions. In the event the customer requires any assistance due to unforeseen circumstances arising from the materialised risk, please refer to the contact details below for more information. 

6. What do I need to do if there are changes to my contact details? 

It is important that you inform us of any changes in your contact details to ensure that all correspondence reaches you in a timely manner. 

You may contact the Bank via the following channels for any changes to your contact details: 

a. Our Contact Centre 

b. Via our mobile application. 

7. Where can I get further information? 

Should you require additional information about the Savings Account-i, please refer to the following website www.kafdigitalbank.com.my . If you have any inquiries, contact us at: 

Tel: +603 8744 3331 

E-mail : hello@kaf.com.my 

8. Where can I get assistance and redress? 

1. If you wish to make a formal complaint on the products or services provided by us, you may contact us at:

Tel: +603 8744 3331

E-mail: hello@kaf.com.my

2. If you are not satisfied with the complaint made or the complaint is not resolved, you may contact the following:

Financial Markets Ombudsman Service (FMOS)

Tel: 03-2272 2811 from 9:00 a.m. – 5:00 p.m., Monday to Friday

or

Laman Informasi Nasihat dan Khidmat (BNMLINK)

4th Floor, Podium Bangunan AICB,

No. 10, Jalan Dato' Onn,

50480 Kuala Lumpur

Tel: 1-300-88-5465 from 9:00 a.m. – 5:00 p.m., Monday to Friday

The information provided in this disclosure sheet is valid as at 20 December 2024 

PRODUCT DISCLOSURE SHEET 

Please read this Product Disclosure Sheet (PDS) before you decide to take up KAF Digital Bank Berhad (Bank)’s Debit Card-i product. Be sure to also read the Terms and Conditions (T&C) for this product. Kindly seek clarification from the Bank if you do not understand any part of this document. 

KAF DIGITAL BANK BERHAD 

Debit Card-i 

Date: 20 December 2024 

1. What is this product about? 

Debit Card-i is a payment method that enables you to access the Bank's services and make payment transactions directly from your account to participating retail and service outlets. An active account with the Bank is required for the Debit Card-i to function. If the linked account is closed, the Debit Card-i will be automatically cancelled. The Debit Card-i payment can be made either virtually and/or physically (if applicable).

Principal Protection

Savings Account-i under the concept of Qard is protected by Perbadanan Insurans Deposit Malaysia (PIDM) up to RM250,000 for each depositor. Please refer to http://www.pidm.gov.my/ for more information.

2. What is the Shariah concept applicable? 

The Shariah concept applicable is the concept of Ujrah where a payment is made by a party for the utilisation of services rendered by the other party. Ujrah occurs when the Cardholder agrees and pays for the fees and charges imposed by the Bank for the services rendered through the usage of Debit Card-i. 

3. What are the fees and charges I have to pay? 

Physical Debit Card-i fees and charges:

• Annual fee 

• ATM withdrawal fee

Overseas transaction fee: 

• Overseas transaction conversion fee

RM12 (waived for Premium Savings Account-i)

Up to RM5 per withdrawal via ATM with Visa Network

Up to 1.20% of the total amount transacted plus any other fee that may be charged by Visa

4. What are the key terms and conditions? 

1. Retail Transaction

You can use the Debit Card-i to perform retail transactions to purchase goods and services at more than 80 million merchants worldwide. The transaction is subjected to a daily default limit of RM3,000. You may perform maintenance on your own for retail purchase limits via channels as communicated by the Bank.

2. Pre-Authorisation Charge

Pre-authorisation charge refers to a pre-authorised amount, which will be debited from the account when the Cardholder makes payment for:

i. For hotel room registration at hotel using the Debit Card-i or any other transactions that may require pre-authorisation charge. The pre-authorisation charge is meant for approval of transactions only. The pre-authorisation amount shall be released when the actual transaction amount is debited from the Account; and

ii. For petrol transactions, the pre-authorisation amount of RM200 will be charged to your Debit Card-i. This amount will be returned and only the actual amount of petrol will be charged within three (3) working days, after the transaction day. To avoid being limited to the pre-authorisation amount, you can make payment using the Debit Card-i at the respective petrol station’s cashier.

3. Contactless (PayWave) Transaction

The “wave” function of Debit Card-i (transaction with no PIN or signature is required) can be used at participating merchants with the acceptance of the terminal for up to a maximum RM250 per transaction. Any purchase of more than RM250 per transaction will require you to enter a 6-digit PIN. You may disable or enable the contactless function and manage your daily cumulative contactless transaction limit via channels as communicated by the Bank from time to time. Alternatively, you may call our Contact Centre at +603 8744 3331 for further information.

4. Overseas Transaction and Card-Not-Present (CNP)

Transactions of Debit Card-i are equipped with high safety security features through the 3DSecure application which may require your verification via SecureKAF at the Bank’s mobile app for your convenience to perform overseas retail transactions and/or Card Not-Present (CNP) transactions. CNP transactions shall include Mail Order Telephone Order (MOTO), direct debit and e-commerce transactions. However, there are certain merchants overseas and CNP transactions that are not equipped with high safety security features. If you are performing overseas and/or CNP transactions which are NOT using or bypassing 3D Secured’ application process, the associated risks are as follows:-

i. Your Debit Card-i information might be stolen and/or misused by others;

ii. The stolen Debit Card-i information might be used to perform series of unauthorised

transactions; and/or

iii. The unauthorised transaction may affect your ability to use your threshold limit until completion of the investigation. You are required to decide whether to agree and participate in overseas and CNP transactions or not upon Debit Card-i issuance. If you have already agreed to participate before (or vice versa) and would like to change your decision, you may enable or disable it via any channels as communicated by the Bank from time to time. Alternatively, you may visit our Contact Centre at +603 8744 3331.

5. What if I fail to fulfill my obligations? 

1. You will be liable on Debit Card-i-present unauthorized transactions which require PIN verification if you have:

i. acted fraudulently;

ii. delayed in notifying the bank as soon as reasonably practicable after having discovered the loss or unauthorised use of the card; 

iii. voluntarily disclosed the PIN to another person; and/or

iv. recorded the PIN on the card or on anything kept in close proximity with the card.

2. You will be liable on Debit Card-i-present unauthorised transactions, which require  signature verification or the use of contactless card if you have:

i. acted fraudulently;

ii. delayed in notifying the bank as soon as reasonably practicable after having discovered the loss or unauthorised use of the card; 

iii. left the card or an item containing the card unattended in places visible and accessible to others; and/or

iv. voluntarily allowed another person to use the card.

3. You must always exercise reasonable care in safeguarding your Debit Card-i from unauthorised transactions which require PIN, signature verification, use of contactless, and/or from loss and theft.
4. You must notify the Bank immediately on the unauthorised transactions or loss and theft. You remain liable for all the transactions entered before such notification whether verbally or in writing to the Bank.
5. Please refer to the Debit Card-i T&C on the liability of customer by referring to our website at www.kafdigitalbank.com.my 

6. What are the major risks? 

Your card may be lost, stolen or misused. Please call the Bank at +603 8744 3331 IMMEDIATELY after having found your card is lost or stolen. 

7. What do I need to do if there are changes to my contact details? 

It is important that you inform us of any changes in your contact details to ensure that all correspondence reach you in a timely manner.

You may contact the Bank via the following channels for any changes to your contact details:

a. Our Contact Centre

b. Via our mobile application.

8. Where can I get further information? 

Should you require additional information about the Debit Card-i product, please refer to the following website www.kafdigitalbank.com.my. If you have any inquiry, please contact us at:

Tel: +603 8744 3331

E-mail : hello@kaf.com.my

9. Other Debit Card-i packages available 

As of this moment, there are no other Debit Card-i products available. 

10. Where can I get assistance and redress? 

1. If you wish to make a formal complaint on the products or services provided by us, you may contact us at:

Tel: +603 8744 3331

E-mail: hello@kaf.com.my

2. If you are not satisfied with the complaint made or the complaint is not resolved, you may contact the following:

Financial Markets Ombudsman Service (FMOS)

Tel: 03-2272 2811 from 9:00 a.m. – 5:00 p.m., Monday to Friday

or

Laman Informasi Nasihat dan Khidmat (BNMLINK)

4th Floor, Podium Bangunan AICB,

No. 10, Jalan Dato' Onn,

50480 Kuala Lumpur

Tel: 1-300-88-5465 from 9:00 a.m. – 5:00 p.m., Monday to Friday

The information provided in this disclosure sheet is valid as at 20 December 2024