Key Facts Statement – Payit

Payit is a mobile digital wallet service operated by First Abu Dhabi Bank PJSC (the “Bank“) that can be used to hold,
send and receive funds via the Payit mobile application (the “App”).

Eligibility

Product description and purpose

Payit is a secure, easy-to-use digital wallet accessed through the Payit mobile application with no minimum balance requirement, no annual fees and no service charges.

Your account with Payit (the Payit Account”) can be used to hold, send and receive funds. If you are employed, you may also be eligible to have your salary paid directly into your Payit Account (the Payit Plus Account”).

Eligibility

You must be 18 years or above and resident in the UAE to use Payit.

Cooling off period

You may change your mind about opening a Payit Account within five (5) business days of agreeing to the Payit Terms and Conditions. You let us know by contacting us at "help@payit.ae" or via the App.

Currency

AED (Arab Emirates Dirhams).

Fees

Warning

Your Payit account must be funded before use. Insufficient funds loaded onto your Payit account may result in a transaction being rejected.
If you see a transaction on your account that you do not recognize, or you think may be incorrect, you must contact us immediately via the call center, App or our website.
We may suspend or cancel access to your Payit Account if your conduct is found to be unsatisfactory or against our compliance policy, UAE Central Bank regulations or the Payit Terms and Conditions.

Notes:

All the information / options provided by the Bank are for the purpose of your informed decision making and this will not be deemed as specific advice or recommendation.
We may change the Payit Terms and Conditions at any time by providing you with sixty (60) calendar days’ written notice. We may also make some changes without telling you in advance, including where we are required to make a change due to legal and/or regulatory requirements and there is not time to give you notice of such changes.
You must submit all forms, documents and evidence relating to issuance of Payit Account that we may require, in a form and substance satisfactory to us.
It is your responsibility to always provide us with an up-to-date postal address, mobile telephone number and electronic mail address and to notify us of any change of contact information you previously provided to us.
You can contact the "help@payit.ae" mailbox for any queries or complaints related to any applicable terms and conditions.
- The Payit Terms and Conditions, and any amendments made to them, will be made available to you at https://payit.ae/terms-conditions/ and via the App.