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Frequently Asked Questions

We have some specific questions witch can help you on our FAQ, also you can always contact us with your specific question and our customer support will reply to you within 24 hours.

We hold your money with established Financial Institutions, so it’s separate from our own accounts and in our normal course of business not accessible to our partners.

We make sure your money’s secure, and that AYABANK is Financially stable. As we’re not holding your money with our bank, your money isn’t FSCS protected instead we safeguard it.

We’re regulated by authorities around the world. This includes the FCA in the UK and FinCEN in the US.

We use third party license and integrated financial services

We use 2-factor authentication to protect your account and transactions. That means you — and only you — can get to your money.

Regular Questions

Required documents

 

Complete onboarding process

AYABANK Provides Virtual, Plastic  & Metal Mastercard Cards for  Personal and Business expenses.

Both types of cards – Virtual, Plastic and Metal – can be activated in your online profile.

Log in to your online profile, go to the “Cards” section, find the card you wish to activate and follow the instructions.

If you struggle, please see the detailed instructions below or contact our support.

Virtual card activation:

  1. Log into your MultiPass account
  2. Go to the “Cards” section
  3. Choose your card and click on "View card details"
  4. Memorise the CVC code
  5. Click on the "Activate card" button, input the CVC and confirm the operation

Plastic card activation:

  1. Upon receiving your card by mail, log into your MultiPass account
  2. Go to the “Cards” section
  3. Choose your card and click on the "Activate card" button
  4. Input the CVC code from the back of your plastic card and confirm the operation

For full card activation (to enable contactless payments), a Chip&PIN transaction is required (either ATM withdrawal or POS payment with a PIN).

Metal card activation:

  1. Upon receiving your card by mail, log into your MultiPass account
  2. Go to the “Cards” section
  3. Choose your card and click on the "Activate card" button
  4. Input the CVC code from the back of your plastic card and confirm the operation

For full card activation (to enable contactless payments), a Chip&PIN transaction is required (either ATM withdrawal or POS payment with a PIN).

The card can be funded after its activation.

The payment card has its own separate balance and should be topped up before any of the funds can be spent. It cannot be topped up by a transfer from another Financial Institution.

You can fund it from your AYABANK Business Account in seconds.

Our cards are designed to be fully managed through the AYABANK Online Platform.

You will be able to perform all the following actions:

  • Issue new card
  • View card balance, transaction history, transaction details
  • Top up card and withdraw funds from card
  • Activate card
  • Suspend card
  • Block card
  • Replace card
  • View card details (PAN, expiry date, CVC)
  • View PIN code
  • Reset PIN fail count
  • Change PIN code via the AYABANK account
  • Change PIN code via ATM (a fee will be applied)
  • Enable/disable separate features, such as e-commerce payments (all online payments), contactless payments, ATM withdrawals

If you have noticed a suspicious transaction on your card, first you should suspend/block your card to prevent further fraudulent use. Then you should contact AYABANK in order to proceed with the investigation.

You will receive a notification about the approaching card expiry date and will be advised to order a new card inside your online profile.

3DS is a security protocol that provides an extra layer of protection for payment card transactions.

It was created to allow a cardholder to authenticate their identity to prevent payment fraud and unauthorised transactions.

All AYABANK Cards are 3D Secure enrolled, meaning that you will sometimes be asked to verify online purchases with your 2FA verification code and a static password that the cardholder sets when ordering a card.

Our onboarding and account opening process is fully automated, however, real human support is available at any step.

To open Personal or  Business Account each applicant has to proceed with online registration on our website at https://app.ayabank.us

The online registration form will take you around 5-10 minutes to complete and as soon as it is submitted, our Onboarding team will start the initial application review. If all the provided information is correct and sufficient, and no additional information from the client’s side is required, the account can be opened within a day.

The application submission consists of 4 parts:
  1. Account holder* verification
The applicant has to verify their email address and telephone that will be used as credentials for the account access in the future; additionally, the applicant has to verify their identity by providing the scan/photo of their passport/ID original, scan/photo of the original proof of address that should not be more than 3 months old (e.g., utility bill, bank statement, government-issued official correspondence) and selfie with passport/ID document. (!) Please note that video verification will be requested as well within 3 months of the account opening date. (!) The onboarding review will be started only after successful identity verification. In case some of the steps were missed or the information provided was insufficient/incorrect, the applicant will be notified additionally. *The person submitting the application is considered an account holder and must be authorised by the company: for example, it can be a company director or another company representative – company UBO or an authorised accountant having Power of Attorney to maintain company account
  1. Company details, type of business, details on the intended account use.
In this section, the applicant describes their business model, planned activity, partners and other information related to the company’s activity.
  1. Identity verification of other authorised individuals**
All individuals who are ultimately entitled to exercise or control the exercise of 25% or more of the voting rights of the company, either directly or indirectly through their beneficial ownership of an underlying corporate shareholder, should be regarded as Principal Shareholders/Beneficial Owners of the company. These persons will receive an email invitation for online verification and will have to verify their identity by providing a scan/photo of passport/ID original, scan/photo of the original proof of address that should not be more than 3 months old (e.g. utility bill, bank statement, government-issued official correspondence) and a selfie with passport/ID document. **All the persons authorised by the company must proceed with identity verification. These are all company directors or partners (for LP companies) and all company UBOs (holding at least 25% of company shares).
  1. Company documents.
At this final stage the applicant will have to upload the following legal documents:
  • Certificate of Incorporation (or Formation);
  • Extract from the Registry showing the particulars of company's directors and shareholders, and particulars of Company (reg. number, reg. address);
  • Articles of Association
For LP/LLP:
  • Certificate of Incorporation (or Formation);
  • Partnership agreement;
  • If partners are corporates, we additionally request COI, Certificate of Incumbency (showing particulars of Directors and Shareholders of Company);
  • In case the shareholders are nominees, we request the Declaration of Trust/Trust agreement/Agreement of providing nominee services (between Nominee and a real UBO).
In addition to above mentioned corporate documents we ask the following:
  • Account statements for the last six months + annual financial report (the most recent available). If the company is newly registered, we also ask to provide a bank account statement of the UBO for the last 6 months to see the source of funds or Tax declaration of UBO;
  • UBO's CV or a link to their LinkedIn profile;
  • Agreements (or other documents, e.g., invoices, etc.) with partners (suppliers/clients)
  • In some cases, we request proof of operational address (if different from registered address)
  • For trade companies we may request transportation documents (CMR, bill of lading, airway bill, etc.)

We sincerely welcome any corporate clients registered across Britain, Europe and beyond.

Below you can see the full list of company jurisdictions currently accepted by AYABANK.

  • Middle East Region
  • Europe
  • USA
  • Golf Countries
  • Asian Countries

Please note there is some countries are restricted like Iran, ect..

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