Fees and Rates

4.1 Are there any annual fees associated with the MyAhmed debit card/account?

There are no sign-up fees or annual fees. MyAhmed is completely free in all of the locations that it is available.

4.2 Are there any maintenance fees associated with the MyAhmed debit card/account?

There are no account maintenance fees. Keeping your MyAhmed account open is completely free.

4.3 Are there any fees associated with money transfers between MyAhmed card/account holders?

There are no fees associated with money transfers between MyAhmed card/account holders.

4.4 Are there any fees associated with transferring money to a third account? (Within and out of SEPA countries)

For UK customers, there is a fee of £18 on all international money transfers.

4.5 What are the money transfer limits (per transaction, per day and per month)?

You can only transfer as much money as there is deposited in your account. The maximum amount of money you can keep in your account is £10,000.

4.6 Are there any fees for using my card abroad?

You can use your MyAhmed card internationally, but for UK customers, any purchases or ATM withdrawals in a foreign currency will be converted into British Pounds Sterling. We’ll do this at the rate of exchange provided by Visa Europe on the date they process the transaction, which may differ from the actual transaction date. You can see more information on exchange rates on the Visa Europe website. 

4.7 What is the exchange rate when I transfer money from one currency to another?

Any purchases or ATM withdrawals in a foreign currency will be converted into British Pounds Sterling. We’ll do this at the rate of exchange provided by Visa Europe on the date they process the transaction, which may differ from the actual transaction date. You can see more information on exchange rates on the Visa Europe website. You can also transfer money to a foreign bank account within 1-3 working days. Funds are transferred in British Pounds Sterling; any currency conversion will be conducted by the receiving institution.

4.8 Is there an inactivity fee?

An account is considered inactive when there have been no transactions on the account for 90 days. MyAhmed does not charge anything for this.

4.9 Is there an account closure fee?

There is no fee when you close your account with MyAhmed.

4.10 What is the PayPoint pay-in min?

The PayPoint pay-in min is £10.

4.11 What is the PayPoint pay-in max?

The PayPoint pay-in max is £249.

4.12 Are there any fees associated with ATM withdrawals abroad?

There is a £0 charge plus 2% of the transaction value on withdrawals in Europe and outside of Europe.

4.13 Is there a cashback limit?

You can request up to £50 cashback at participating UK retailers when making a purchase.