ADIB Business Platinum Covered Card
ADIB i.e., the Abu Dhabi Islamic Bank believes in conducting business in a manner that creates great value for its members. There are a variety of products offered to the consumer from personal products and services to business products and services. One of these is the ADIB Business Platinum Covered Card, which is claimed to be the first Islamic Visa Card in the entire UAE region that provides the cardholder extra flexibility and a secure alternative to the cash mode of payments. With a variety of exclusive features and benefits, it definitely hits the list of the best credit cards in the UAE.
Features & Benefits of the ADIB Business Platinum Covered Card
Below are the distinguishing features and benefits of the Business Platinum Covered Card offered by ADIB:
Covered Card Limit
The cardholder is offered a covered card limit of up to AED 250,000 on the ADIB Business Platinum Covered Card.
ADIB understands that a cardholder may face a situation where his or her business might be requiring some immediate funds, which is why he or she can withdraw up to 60% of cash on the Business Platinum Covered Card.
The cardholder does not have to worry about security while making any transactions, as the ADIB ensures secured transactions with the adopted advanced Chip & PIN technology.
First Year Free
The member of the ADIB Business Platinum Covered Card does not have to pay the annual fee for enjoying the perks of this card for the first year, after which an annual fee of AED 800 is applicable on the primary card.
The holder can now have his or her close ones partake in the benefits offered by this ADIB card as it allows him or her to avail of supplementary cards. The member is eligible for 4 supplementary cards free of cost after which there is a charge from the 5th card onwards.
The customers of the ADIB Business Platinum Covered Card can make use of the complimentary road-side assistance offered with this ADIB card.
**Note: Features and Benefits are available only for the existing members.
Required Documents for the ADIB Business Platinum Covered Card
The following are the documents that a customer needs to have in order to apply for the Business Platinum Covered card:
- The applicant must have his or her bank statement for the past 6 or 12 months depending on the business requirement.
- The applicant must have a valid passport and valid passport copies of all the partners of the business along with the Residence Visa for the signatories.
- The applicant must have an original valid passport and the Emirates ID for the signer or signers.
- The following valid and original documents must be held by the applicant:
- Trade or Professional License
- Commercial Registration
- The certificate of Chamber of Commerce Membership
- Memorandum of Association
- Any other subsequent amendments and Power of Attorney
- Board Resolution
- Any other documents that might be applicable
- As per the financing requirements, any other documents that may be applicable.
Fees & Charges for the ADIB Business Platinum Covered Card
The following table details the fees and charges for the ADIB Business Platinum Covered Card:
|Annual Fees |
|Annual fee of the Principal Card||AED 800|
|The subscription fee for the Supplementary Card||AED 100|
|Annual fee of the Supplementary Card||2%|
|Other fees and charges |
|Murabaha profit rate amount per month||3% of the amount, minimum|
|Fee for cash withdrawal||AED 99|
|The compulsory donation fee in case of a late payment||AED 100|
|Service fee for a non-AED transaction||3.1%|
|Receipt copy request fee for cash or retail||AED 25|
|Receipt copy request fee for entertainment or travel||AED 100|
|Fee for card replacement||AED 100|
|Fee for statement re-print||50|
|Fee for increasing limit temporarily||50|
|Fee for an international transaction||1.80%|
|The minimum amount due||10%|
|Cash advance limit||60%|
|Grace period for payment||Up to 55 days|
(Updated as of February 2020)
Frequently Asked Questions
Q: What is the annual fee on the ADIB Business Platinum Covered Card?
Ans: The ADIB Business Platinum Covered Card is free for the first year, after which there is an annual fee levied of AED 800 on the principal card.
Q: What is the covered card limit?
Ans: There is a covered card limit offered on the ADIB Business Platinum Covered Card to the cardholder of up to AED 250,000.
Q: What is the grace period for payment?
Ans: The grace period for making the payment for your Business Platinum Covered Card is up to 55 days.
Q: How can I access the banking services for my ADIB Business Platinum Covered Card?
Ans: The banking services for any of the products or services offered by ADIB can be access in four ways, they are:
- Phone Banking
- Mobile Banking
- SMS Banking
- Internet Banking
Q: Is there any fee charged for damaged cards?
Ans: No, there is no fee applicable for the damaged cards if the cardholder manages to deliver the damaged card to any of the ADIB branches.
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