UBL Wiz card?


#1

Hi,

I need some information about this Visa UBL Wiz card that UBL are providing.. They also have a similar card for ACCA students.. Is there any difference between the two?

Secondly, What is its system? Like ive heard you just go to UBL's branch, ask for the card and they provide you one, once you fill the form and provide the neccessary documents.. Your bank account is not opened, instead a virtual account is opened???

If someone has this card, Please explain. Im confused !!!


#2

It is exactly like what you said. You provide cash, fill form and get the card within 1-2 hours. Now there are two types of cards. One has a limit of Rs. 10,000. This one is pre-activated for internet banking and does not require you to contact UBL to activate Internet Banking. Also you don't need open a session every time you want to do an internet transaction. It works everytime, provided that the UBL server is not down (which is my experience is down most of the time!). Then there are those cards that have limits higher than Rs. 10,000. They are Teen, Business and i think Ladies or something. The limit on these card are higher but they are not pre activated for internet (you have to fill in a separate form and fax it to UBL to activate internet shopping) and plus you have to activate a session everytime you want to do an internet transaction. Hope this clears things up.


#3

Thanks. So basically no bank account is opened???

And also, Do you have any idea about the ACCA card? Whats the difference between the ACCA card and the normal one? I actually need to pay my ACCA fees which amount to 100Pounds (around 14,000 PKR). Will this card only work on ACCA sites?


#4

A bank account is actually there at the back end; you refill your debit card by depositing money into it.

One way you could describe it is that UBL Wiz is basically just a pre-opened bank account coupled with a pre-activated debit card.

AFAIK you are also now required to provide some kind of proof of income for getting (or student ID card if you are studying) to get it as well.

If you are getting it for online purchase I would recommend getting the UBL Teen Wiz(?) card, which doesn't require activation...as in my experience the UBL help line is quite busy and it can take quite a while to get to your turn to get it activated it for online purchases.


#5

@ alamode

Regarding the bank account, they don't require you to open a bank account but may open in their system for internal purposes which you can use for depositing money as Firestorm said. Deposits can be made by using the Credit Card deposit slip and amount is deposited to your account which you can use for either internet banking or ATM transactions.


#6

[quote=", post:, topic:"]

Hi,

I need some information about this Visa UBL Wiz card that UBL are providing… They also have a similar card for ACCA students… Is there any difference between the two?

Secondly, What is its system? Like ive heard you just go to UBL’s branch, ask for the card and they provide you one, once you fill the form and provide the neccessary documents… Your bank account is not opened, instead a virtual account is opened???

If someone has this card, Please explain. Im confused !!!

[/quote]

ACCA Wiz card details are provided here. Per day transaction limit is 1 lac not 10k:

http://www.accaglobal.com/databases/pressandpolicy/pakistan/3348006

My experience with other UBL wiz cards is that it works on some websites and not on others. Also it is not a reliable online payment method. Sometimes it will fail to work at all!

Another thing you should know is that you can only deposit and withdraw money in multiples of Rs. 500. So if you have a balance that is not a multiple of Rs. 500 you won’t be able to withdraw it! Your only option will be to spend that money offline or online.

The account they open for you can only be funded with cash or online ubl checks. You will need to provide your CNIC copy each time you deposit money into your card!

I have heard that you have to wait for UBL to verify your CNIC with NADRA before you can use your card. That can take many days.


#7

@ Rokra

Thanks for the info, I'll tell this to my friends who are doing ACCA. It looks like a good step by ACCA. I have used UBL Wiz Card (The 10k limit one) about 4 times and it worked twice. The rest of the time either the UBL server was down or some other issue. You are right, reliability is a major factor here. But it is a good payment method in case you cannot get a credit card and only other method of making payment for ACCA is through a Bank Draft i think. So it is nice to have an alternative.


#8

^^ Yeah we make do with what we have.


#9

Will get the acca wiz card on monday. Lets see how it goes.