What is FlexiPay on my Credit Card?
The FlexiPay is an instalment payment plan offered by ADCB to a Credit Cardholder to enable the payment of full or partial retail principal outstanding balance in equal monthly instalments.
What is the timeframe to process a FlexiPay on my Credit Card?
Your request will be processed within one (1) working day from the day of the request received by the Bank
How do I apply for a FlexiPay on my Credit Card?
You can avail this facility through Personal Internet Banking, Mobile Banking App, by sending SMS “FLEXIPAY” to 2626 for a call back or by contacting the ADCB Contact Centre at 600 50 2030.
Who can apply for a FlexiPay on my Credit Card?
FlexiPay is applicable to all customers with active ADCB credit card(s) with a minimum retail principal outstanding balance of AED 500 or more
Is there a minimum amount to apply for a FlexiPay on my Credit Card?
A minimum retail principal outstanding amount of AED 500 is required to avail FlexiPay option on your applicable Credit Card
What are the repayment options available for FlexiPay on a Credit card?
You can choose to repay your monthly instalment amounts for 6, 12, 18, 24, 36 or 48 months.
What happens if I am unable to repay an instalment while having a FlexiPay plan on my Credit card?
A monthly instalment has to be paid towards FlexiPay. However, if you fail to repay your instalments for two consecutive months, the Bank will cancel FlexiPay and the entire outstanding amount under the FlexiPay will be moved to regular outstanding balance on card and shall become payable forthwith with applicable interest per month or such other rate as may be prescribed by the Bank.
Can I amend the payment plan on an existing Credit Card FlexiPay plan?
You cannot amend the payment plan on an existing Credit Card FlexiPay plan. However, you can foreclose the existing plan and book a new plan, but foreclosure charges will be levied in such as case.
Can supplementary cardholders apply for FlexiPay facility?
This facility is available for total retail principal balance on both Primary and Supplementary credit cards. However, only primary cardholders can raise a FlexiPay request.
Can I cancel my existing FlexiPay plan on my credit card, and will I be charged?
You can choose to cancel your existing FlexiPay plan by prepaying the retail principal outstanding amount under to the Bank in one (1) lump sum payment. A foreclosure fee of UAE Dirhams two hundred and ten (AED 210, inclusive of 5% VAT) per request or such other charge as may be prescribed by the Bank from time to time shall be charged to the Cardholder in this case.
What happens if I close my Credit Card while FlexiPay is active?
If you request for closure of the credit card before all instalments are completed on the card account, the FlexiPay amount will be debited to the credit card account as one consolidated amount and a foreclosure fee of UAE Dirhams two hundred and ten (AED 210, inclusive of 5% VAT) per request will be applicable. Thereafter the credit card will be closed, post-payment of complete outstanding on the credit card.
How will I be billed for FlexiPay in my credit card statement of account?
The FlexiPay monthly instalments together with interest and all applicable fees and charges shall be included in the Minimum Payment Due and billed in the Statement of Account. Billing shall commence from the first Statement of Account sent to you following the conversion of retail principal outstanding balance.
How will FlexiPay be reflected in my credit card statement of account?
The Bank in the first Statement of Account sent to you following the conversion of retail principal outstanding balance (part or full) will state the amount that has been converted into FlexiPay, the amount of monthly repayment instalment payable and the pending number of instalments. Each monthly installment under FlexiPay will include amounts for the repayment of principal and interest.
What happens to the credit limit on my card when I avail FlexiPay?
Please note by availing FlexiPay the amount converted under FlexiPay will be blocked and available credit limit will reduce accordingly. As and when instalments are paid, the instalment paid amount will be part of the available limit.
Can I apply for more than once for FlexiPay?
Yes, you may apply more than once for FlexiPay so long as you qualifies for FlexiPay.
Can I avail FlexiPay on the payment done on my credit card?
FlexiPay can be offered only on the retail principal outstanding balance as on the day of the request and will not be applicable to balance for which the payment has been made and/or credit received on the said card account.
What will happen if I avail FlexiPay and subsequent made a payment on my credit card?
If you place a FlexiPay request and subsequently makes a part or full payment of your retail principal outstanding balance, the amount specified by you at the time of application on the day of request will be converted into payment plan. Any excess payment will be adjusted against the future purchases or instalments on credit card statement of account.
What is Retail Principal Outstanding Balance on my Credit Card?
Retail Principal Outstanding Balance is the sum of all unpaid retail Credit Card Transactions (billed or unbilled) on your Credit Card Account on any given day. It excludes Cash Advance transactions, Charges (if any) or outstanding principal (if any) from any existing instalment product(s) availed by the Credit Cardholder.
Are there any charges or interest rates applicable for a FlexiPay plan on my Credit card?
A flat monthly interest rate will be applicable on FlexiPay and will be levied as part of the billed monthly installment. The applicable interest rate is determined by the Bank and is subjected to change on a periodic basis. For further details, please refer the prevalent Schedule of Fees.