DEFINITIONS:

In these Terms and Conditions, the following words have the meanings set out hereunder, unless the context indicates otherwise:

1. “Card” means the I&M Bank MasterCard Multicurrency Prepaid Travel Card, issued by I&M Bank to the Cardholder.
2. ‘’Cardholder’’ means the person or assigned Agent of the person who has been rightfully issued a card by the Bank under these terms and conditions
3. “Agent” means any company/individual appointed and authorized by I&M Bank to sell, process reload and refund on the Card.
4. ‘’ATM’’ means an automatic teller machine/terminal displaying either MasterCard or Maestro Logo for effecting cash withdrawals, at which, inter alia, the Card may be used for the purpose of withdrawing Funds.
5. “Cardholder” means such customer of I&M Bank to whom the Card has been issued pursuant to an application by such person, and who is authorized to hold the Card.
6. “Funds’’ means the amount of monies purchased and loaded onto the Card by the Cardholder from I&M Bank or Agents in respect of which the Card has been issued and any additional monies that may subsequently be purchased by the Cardholder (not including any sales commission or feespaid to such person/s, as are authorised by I&M Bank so to do, from whom the Card was purchased), less any amounts previously spent and any applicable fees, charges, conversion fees, and other expenses incurred in connection with the use or possession of the Card.
7. “I&M Bank” means and refers to I&M BANK LIMITED.
8. “I&M Bank ATM” means an ATM owned and managed by I&M Bank and displaying I&M Bank Logo.
9. “Merchant” shall mean any person who owns or manages or operates a Merchant Establishment.
10. ‘’Merchant Establishments” shall mean establishments which honour Cards.
11. ‘’PIN” means the Personal Identification Number as provided to the Cardholder by I&M Bank , for use with and in relation to the Card in terms hereof.
12. “POS Terminal” shall mean point of sale electronic terminals at Merchant Establishments whether in Rwanda or overseas, capable of processing Transactions and at which, amongst other things, the Cardholder can use his Card to access his Funds to make purchases.
13. “Shared Network” shall mean ATMs which are not owned by I&M Bank but which accept Cards issued by I&M Bank.
14. “Transactions” shall mean cash withdrawals from the ATMs and/or any purchases made at the Merchant Establishments through the use of the Card.
15. ‘’Base Currency’’ means the basic currency under which the card is issued and billed.
16. ‘’Currency Conversion Rate’’ means the prescribed rate of currency exchange at which one currency wallet shall be converted to another currency wallet.
17. “United States dollar” means the basic unit of money in the United States which hereinafter may be referred to as “USD”, Dollar, “US $” or “$”.
18. “Great Britain Pound” means the standard monetary unit of the United Kingdom, hereinafter may be referred to as “GBP”, “Pound”, “Sterling Pound” or “£”.
19. “Euro” means the official currency unit of the member countries of the European Union who have adopted European Monetary Union. 20 “Rwanda Shilling”, means the basic unit of money in Rwanda, hereinafter referred to as “KES”, “KSHS” or “Ksh”.