On Tuesday, Rafidain Bank warned against giving the electronic card and password to anyone who may use it to withdraw money outside the country.
According to a statement received from the bank, the electronic card has numerous benefits and advantages. It is used in various critical areas such as deposits, withdrawals, shopping, and daily financial transactions. It enables individuals to carry out their transactions without needing physical cash or manual cash handling.
The statement emphasized the importance of adhering to income limits on the electronic card, particularly for employees and retirees who have linked their cards to bank accounts.
“He emphasized the importance of using the card in a responsible and civilized manner. This includes filling it with amounts that are within the maximum limit allowed and in line with the employee’s or retiree’s monthly salary, as well as any other sources of income declared by the cardholder. It is important to comply with the Anti-Money Laundering and Combating the Financing of Terrorism Law.”
The bank warned against giving the card and password to another person for withdrawing money outside the country as it may be considered part of money laundering.
