What is the Traveler Card of Alinma Bank?
It’s a low limit, multi-currency card with different wallets for each currency.
What does this definition mean?
The Traveler Card has credit limit amounts USD 10, and it can be loaded with higher amounts, then, paying with it. The Card can be loaded with differnet currencies, and in the mean time, it can be loaded with only five currencies: U.S. Dollars, British Pounds, Euros, UAE Dirhams and Saudi Riyals. Bank Alinma is promising to add more currencies later.
What are the benefits of the Traveler Card?
First: Exchange currencies with competitive exchange rates and with a fixed exchange rate for USD which eaquels to SAR 3.75.
Second: Exchanging currencies is free.
Third: Purchasing with one of the card’s currencies is free of fees as long as the used wallet has enough balance.
Is it possible to avoid all of these fees for free?
No, of course not. The Traveler Card has some fees that explained on Alinma bank website, and the most important fees are:
Issuance Fee: SAR 75.
Annual Fee: SAR 75.
Renewal Fee: SAR 75.
Note: The diffrence between the Annual and Renewal Fee is not explained on the website.
How to get the Traveler Card?
By requesting the Card via Alinma Bank’s website or application, and it’s possible to get the card from a branch or by shipping to a certain address after paying the shipping cost which amounts SAR 52.50.
How to use the Traveler Card while traveling?
It’s so simple. Just load the Card with the chosen currency and pass it through a point-of-sale, and when a wallet of a currency is about to be empty, load it again and again as long as you have access to the internet.
Are there other benifits for the Traveler Card?
Yes, one of the most important benifts is that after every transaction a messege will be delivred to your phone and Email containing the details of the transaction and the available balance for the used balance. In addition, the Card comes with Wifi chip and can be activated on madaPay.
Why did I decided to get the Traveler Card?
In the last few years, I made many purchasing transaction thruogh the internet such as shopping and buying games and applications. Most of the onling stores are forigen stores using Visa network, and fees always get collected for these transactions. When I asked the bank about the fees, I understood that these fees are 2% of each transaction on Visa network and collected by Visa. However, I can avoid these fees for SAR 75 annually by using the Traveler Card.
Why then did I decied to cancel the Traveler Card?
When I made the first online purchase by the Traveler Card, I was very happy that the transaction was done with no fees, or that’s how it appeared when it was pending with actual value of SAR 974. When the transaction got processed later, it appeared in a misunderstandable way. The amount of the transaction on the statement was SAR 974, but when I saw the details of the transaction, the details was as below:
Currency: Saudi Riyal
Amount in SR: 993.48
The amount of SAR 993.48 was deducted from my Traveler Card. I didn’t understand directly what happend, and I still don’t know what happened, even after I called Alinma bank three times and visited the bank twice. I only found an automatic and direct answer before seeing the actual transaction: “Every transaction on Visa network, Visa collects 2% of the amount of the transaction.” This anwser is acontrary to what is in the bank website becuase this transaction was done by Saudi Riyals and deducted from the Saudi Riyal Wallet. The text Below is from the Bank website:
Purchasing fee in one of the Card’s currencies: Free.
I thought that these fees happend by mistake on this exact transaction, but these fees are still occurring again and again.
Did I surrender to this answer and stopped asking about these fees and claiming for compensation?
Yes, I did. I realized that I will reach totally nothing from contacting Alinma Bank via the Phone or visiting the branches as the working people there are unawere of this amazing card which is described on the bank website. With all of that, I don’t trust Alinma Bank any more.
Why then did I decided not to cancel anymore?
Since the beginning of 2019, the issue hasn’t occurred. Therefore, the card now is working correctly and there’s no need to cancel anymore.