Account and Card
Personal accounts come with an account number, sort code and IBAN number. The account can be linked to other bank accounts.
A Visa-approved contactless debit card that can be used internationally wherever Visa is accepted. The card includes the account-holder's name, card number, account number, sort code, chip and magnetic stripe. The card can be linked to Samsung, Google and Apple pay services.
All aspects of the account are kept free from interest (riba) and have been approved as being Shariah-compliant. MyAhmed is not underwritten by another bank. Deposits are ring-fenced at the Bank of England and no bank can use them for lending activities.
MyAhmed is regulated by Contis, which itself is regulated by the Financial Conduct Authority (FCA).
Quick, Easy and Free
The MyAhmed account can be opened in minutes at no cost whatsoever. There is no fee charged for card posting and delivery, and cancellation is free in the first 14 days. There is no credit check required.
Safe and Secure
The app is accessed by entering a PIN and/or scanning your fingerprint. The account is also protected by a security code. Monies in the account are protected from claims by creditors in case of insolvency. Accounts can be frozen in case the card is lost, damaged or stolen, or when suspicious activity has been reported by the account-holder.
Customer Service Intercom
Connect to a human who will be available to help you through our chat service which is built into the app.
A calculator built into the app that evaluates your assets and liabilities, and accurately works out 2.5% of the Zakatable wealth that you have accumulated over the period of one-year.
Donate to a list of pre-vetted UK charities via the MyAhmed app. 100% of all proceeds are transferred to the chosen charity, with no associated fees.
A savings fund into which money can be transferred from one or multiple accounts, which is separate to the account(s) but not a separate account in and of itself. The pot is managed by one administrator.
A chit fund into which regular money contributions are made via transfer from multiple accounts at specified times and dates. Funds can then be distributed among contributors on a rotational basis.
Split the Bill
A method by which account-holders can share the responsibility for bill payments with other account-holders who are connections on the app.
A setting that allows the app to automatically round up the spare change in the account and have it transferred into a selected Saving Pot.
A pie chart built into the app that breaks down month-by-month spending habits and allows account-holders to set spending caps on outside dining, accommodation costs, utility bills and grocery shopping. Optional notifications can be activated to warn against overspending.
A setting that enables account-holders to schedule direct debits in advance to prevent them from falling behind on monthly bill payments.
COMING SOON: Same-day money transfers to and from bank accounts in the UK. Easy transfers between MyAhmed connections.
COMING SOON: Money transfers to a foreign bank accounts that are completed within 1-3 working days. Funds are transferred in British Pounds Sterling; any currency conversion will be conducted by the receiving institution. Exchange rates are set by Visa Europe.