FAQs

How does klip work?
klip is accessed through a digital app available from any stakeholder bank or direct from EDW. Once they have set up the app users can either link their klip account to their bank account or load cash onto it directly at selected locations around the UAE. They can use klip for goods or services, to send and receive money, and to store money for when they need it. They do not need to have a bank account. They can also obtain cash from ATMs by accessing funds stored on their Digital Wallet.
Who can use klip?
Anyone who is a resident of the UAE and has an active UAE SIM card. The beauty of klip is that like having cash in your pocket. You do not have to have a bank account. You can use it like you use cash. This means that it is also available to those residents in the UAE who do not qualify for a bank account. klip is also perfect for shops and other outlets, reducing cash payments and storage, and allowing the immediate use of proceeds.
How do I sign up to klip?
You will be offered it by your bank, if it is a member of Emirates Digital Wallet. Also, non-member banks are likely to offer it to their customers as an option. Those without bank accounts will also be able to access the app directly from Emirates Digital Wallet. Non-bank customers will need to sign up at selected locations around the UAE.
What are its main aims?
EDW, which operates klip, has three principal aims:
  • The first is to support the UAE government's strategy to drive digital transformation across the economy and society
  • Secondly EDW aims to realise the Central Bank's desire to reduce and ultimately remove cash in circulation in the UAE economy so as to make it more efficient and to minimise fraud and the risks inherent in the use of cash
  • Thirdly EDW reflects the government's desire for better financial inclusion primarily for the unbanked in the UAE economy
What makes it unique?
There are many features that make klip unique. It is the only payments system in which so many national banks have collaborated and have ownership. It is available whether or not you have a bank account – there is no minimum requirement, other than being a resident of the UAE and having a SIM card. klip is instant, and when a klip transaction is made no personal financial data is transferred. klip operates in compliance with UAE Central Bank rules. No other payments system has all of these features.
How do people use it?
For payment it works in many ways like a debit card, only the funds will be transferred to the payee or recipient immediately. But it can also be used to store funds and remit them to others. klip will be widely acceptable in the UAE including the range of physical and e-commerce stores.
What are the costs of using it?
For the basic service, nothing. Other costs will come into play eg for overseas transfers, obtaining cash through an ATM and transferring cash from a credit or covered card.
Do you have to have a bank account to be a klip user?
No, this is one of the principal benefits of klip.
Are there limits in the usage of the klip?
Yes. They are currently set at AED 10,000 per transaction or AED 25,000 held in a klip account.
Will I need a PIN code to make purchases
No, once you have opened the app as long as there are sufficient funds in your klip wallet you can make purchases directly.
Is it secure?
klip is very secure. EDW's operations meet the highest international technology and security standards. The klip platform managed by EDW is integrated with the systems of its member banks so that transactions it supports are protected to the same extent as those performed by the banks for their customers. However, klip maintains no deposits, nor does it hold or transmit any financial or personal data.
What does Emirates Digital Wallet LLC do?
Apart from establishing and operating the 24/7 platform it will Issue its own branded digital wallet app for customers (individual or businesses) with stakeholder banks, other banks or unbanked customers, and manage the member bank limits, set and regulated through SLAs between it and the stakeholder/member banks to allow for continuous operation.
Who’s involved?
Emirates Digital Wallet LLC was jointly set up by 16 of the leading UAE national banks. It is regulated by the UAE Central Bank. Member banks are FAB, ADCB, ADIB, Mashreq Bank, DIB, CBD, RAK Bank, UNB, Al Hilal Bank, SIB, Al Masraf, Bank of Sharjah, Invest Bank, UAB, NBF, and NBQ. It has a Board of 9 representatives of stakeholder banks, and its Chairman is Mohammed Al Jayyash, Chief Service Officer of Abu Dhabi Commercial Bank. Its CEO is Maki Vekinis, previously Head of Global Transaction Services at Abu Dhabi Islamic Bank.
What is Emirates Digital Wallet?
Emirates Digital Wallet LLC owns and operates klip, which is the UAE’s Digital Cash. This is a nation-wide initiative to make UAE cashless and supports the UAE government’s initiatives to drive digital transformation. klip is an app which allows money to be spent, remitted or stored digitally.