THE CARD

I&M Bank MasterCard Multicurrency Prepaid Travel Card is a Multicurrency card that can be used in variety of currencies as defined by the Bank from time to time.

The Card shall always be loaded or reloaded in the defined BASE Currency or any billing currency and thereafter funds may be converted to a variety of billing currency wallets which the cardholder will be able to transact directly from as per the transaction currency.

The initial BASE Currency shall be US Dollars with other secondary Billing Currencies which may include, Rwanda Shilling, Great Britain Pound and Euro or any other currency which the cardholder may convert and allocate the Funds for usage.

If the Bank introduces a new Base or secondary Billing Currencies and the cardholder chooses to allocate funds to that new currency, they shall be deemed to have acknowledged and agreed that these Terms and Conditions apply to such new Currency. If the Bank adds any new currencies to the defined Currency Wallets, this shall be appropriately communicated to the cardholder through available communication channels.

The cardholder is responsible for determining and managing their Currency Wallets portfolios and ensuring that sufficient funds are held in each wallet and in a defined usage priority to accommodate anticipated transactions in the relevant Currency, subject to certain limits and fees as defined and advised by the Bank from time to time.

Cardholder may allocate Base Currency funds across the available secondary Billing Currencies by logging into I&M Bank Customer Portal via www.imbank.com .

The Card is not a Credit Card and its usage is limited to the amount pre-loaded. The card must not be overdrawn. Any overdrawn position shall immediately become payable and the Bank shall immediately demand the same from the cardholder and exercise its rights defined in the terms and conditions to recover the overdrawn position.

The Funds held in the Card do not amount to a deposit with the Bank other than as described in these Terms and Conditions. The Bank shall not pay any Interest on the Credit Funds held in the card account. Any change shall be appropriately communicated to the cardholder.

The Card can only be used if it is in credit. If a particular Currency Wallet becomes overdrawn following a transaction by the cardholder, the resulting debit balance becomes a debt immediately payable by the cardholder and the Bank reserves the right to recover the overdrawn position by deducting funds held in another Currency Wallet, starting with the Base Currency. In converting the Negative Balance into the relevant Currency Wallet the Bank shall apply the same conversion rate used in Currency Wallets allocations.

The default Card Usage Currency will be the Base Currency, however the cardholder will be able to change their default currency settings and define usage currencies priorities by accessing the defined customer portal facility of the Bank’s prepaid card system. Usage of the Card in any other currency than the Base or secondary Billing Currencies will be billed in the Base Currency.