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Got an idea for a new financial product, online banking service or any other innovative product that you would like to suggest to the moneysmart community? We would love to hear from you here as we’re always looking for ways to help you live a happier financial life. Before making a new suggestion, please check if a similar suggestion has already been made.

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AToosh - 04.11.2019 - 13:53:10

MONEY SMART INSURANCE

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in the category Insurances

you need to add insurance category to the web site and also the app on the future
specially the health insurance and the motor insurance
with a price comparing and a special prices for adib money smart contacts


Zohair wrote on 14.11.2019 at 17:10

good idea!


Kiranndd wrote on 10.01.2020 at 19:10

Goos suggestion



mbalfaqeeh - 26.10.2019 - 12:54:14

special accounts for non salaried employers

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in the category Personal Finance

Those days I faced many non salaried people want to rent with cash in monthly basis cause they cannot open a bank account to get cheque book.

in current state of the market we face many salaried employees going out of the country and the banks cash flow going low every day.
their is a big part in this country got only cash and cannot open a bank accounts because of regulations.

I prefer that the banks going out of the box and start to creat for them some special accounts, that will help the current market and help them.

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Zohair wrote on 14.11.2019 at 17:13

interesting thought. do you want a feature or product where instead of cheques, the receiver obtains a similar guarantee but not be a cheque? that is currently available in the form of a demand draft or managers cheque. if youre talking about a different concept, can you explain more? how would it work? why or how would people exchange/obtain/accept it?


mbalfaqeeh wrote on 14.11.2019 at 20:02

It can be special product for low salaried accounts but not manager cheque, cause manager cheque need that the account must have the full amount in the account to be blocked and they don't have the full year rent in their account.
in renting we ask the tenant to pay by cheques for more secure in payment and most tenants like (students, free lance workers, low salaried workers) they don't have accounts and cheque book cause of regulations.


Kiranndd wrote on 20.02.2020 at 08:57

i can suggest a money-smart account for nonsalaried people.



Hakam83 - 03.07.2019 - 15:28:37

الربح بظام الشرائح

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in the category Investments and Wealth Management

نظام يقوم بحساب الربح بظام الشرائح بحيث كلما زادت نسبة الادخار من الراتب زادت معه نسبة الربحية فمثلا اذا استطعت ادخار 500 درهم لآخر الشهر تكون عليها نسبة ربح0.5 % بينما اذا استطت ادخار 1000 درهم من الرتب تكون نسبة الربح 1 % و هكذا بشكل تصاعدي

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AdhamAttia wrote on 14.09.2019 at 13:07

Good idea and it would help people save more in their account


mujah wrote on 24.10.2019 at 12:17

good


Meme303 wrote on 21.11.2019 at 11:13

شي جميل يشجع على الادخار



NHA - 20.06.2019 - 12:26:30

الراتب التعويضي

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in the category Job Insurance

تكون هذه الخدمه بشتراك من قبل الموظف في أي قطاع بحيث يكون تأمين على الراتب الشهري بالقيمه المحدده والمتفقه من العميل ومقدم الخدمه..بحيث إّذا تم الاتفاق يتم استقطاع مبلغ شهري من العميل ويقوم مقدم الخدمه بستثماره..
-يكون تحصيل الراتب التعويضي إذا فقد الموظف وظيفته أو تم استقطاع جزء من راتبه.
-التعويض يكون شهري.

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Malameri111 wrote on 20.06.2019 at 21:22

الفكره جميله جدا... وهذا يعتبر تأمين الوظيفي للموظف


Meme303 wrote on 21.11.2019 at 11:14

ليس الجميع لديه راتب شهري


sathishnp83 wrote on 24.11.2019 at 12:04

So nice



Mon-Mon - 10.04.2019 - 16:21:05

Match Your Investment with Your Financial Goal

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in the category Investments and Wealth Management

A savings account is a good place to keep money for short-term goals. However, this is not a good choice if you are saving money for a goal that is five or more years away. Money saved for long-term goals needs to be protected from “purchasing power risk.”

Inflation tends to cause prices to increase each year. That means that the money you have in 10 years won't purchase as much as the same amount would purchase now. The risk that your dollars will be worth less in the future is called “purchasing power risk.” For example, remember when you were a child how much less money it cost to purchase a candy bar? It may have only cost you a nickel or dime to buy the same candy bar that now costs $1.00. Inflation (in the years since you were a child) has caused your money to have less purchasing power than now.

A savings account does not protect you from purchasing power risk. Investing in stocks and bonds for long-term goals can help avoid purchasing power risk.

There are options for investing your money. Examples include: individual stocks; bonds; and mutual funds that invest in stocks and bonds. With good investments, you’re likely to make more money than by keeping your money in a savings account. However, you have to be able to handle some losses, too. Your investment’s value can go up or go down.

The value of an investment in stocks and bonds changes from day to day. Over a year, it’s not guaranteed that your investment’s value will increase. The risk of losing some of your money is great in any one year. However, if you keep an investment for a longer time (for example, five to ten years) you are more likely to make money.


Pheeleeszeetee wrote on 07.05.2019 at 10:05

exactly


mbalfaqeeh wrote on 22.10.2019 at 08:55

one of my friends in 2005 he used to make short term investment by buying properties and used cars in Ajman and resell it with a small margin of profit.
He got great business and cover his expenses with keeping the capital money.
ofcourse their was no loans from banks to pay for it that raise the risk of losing the small profit and became in negative.



Mon-Mon - 04.04.2019 - 10:55:38

Tips for Banking Online Prepaid Cards vs. Debit Cards vs. Credit Cards

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in the category Cards

Some people use personal finance terms interchangeably like ‘checking account’ and ‘bank account’ or ‘interest rate’ and ‘APR’. In these instances, this is understandable.

Yet, when it comes to prepaid, debit and credit cards, it’s important to note that these cards are not the same thing. While they all may show a network logo like Visa, MasterCard, American Express, or Discover, these three types of cards are actually quite different.

With that said, these cards do have one thing in common: if you’re not using cash, you’re likely using one of them to make your purchases.Read on to learn more about the differences between prepaid cards, debit cards and credit cards.

Debit Card:

A debit card is linked to your checking account through your bank. When you use your card to make an in-store or online purchase, the money gets deducted from your bank account. You can also use your card at an ATM to withdraw cash.

If you happen to spend more than the amount in your account, you may be charged an overdraft fee.

Prepaid Card:

Prepaid cards are not linked to your checking account so you don’t really need a bank account to have one. With a prepaid card, you load money onto the card and then use it to make purchases or withdraw money from an ATM. You can put money onto your card with any of these options:
•Arrange for a paycheck or regular payment to be directly deposited onto the card
•Add funds at retailers or financial institutions like a Walmart or currency exchange location
•Use a reload card which works just like a gift card (it contains a code that becomes linked to the amount of money you paid the cashier. You can then load the card over the phone using your code)
•Transfer funds from an existing bank account

Be mindful that some loading methods may come with a small fee. There are different types of prepaid cards to choose from: free prepaid debit cards, re-loadable prepaid cards with no fees, and no limit prepaid debit cards, to name a few. Make sure you understand the terms and limits of this type of card before you use one.

Credit Card:

A credit card allows you to make purchases by borrowing from a credit limit instead of using the money you have in your checking account or funds you loaded onto a prepaid card.

With a credit card, you’ll have a minimum amount that you are required to pay each month (reflected on your bill), but it’s a wise idea to try to pay off the entire balance if possible. It’s also important to note that you’ll receive a certain limit when approved for a card. You can then spend up to this amount regularly so long as you make your minimum payments on time.

Credit cards can help you build your credit and demonstrate that you are a trustworthy borrower. In fact, credit card companies report your borrowing and payment history to the three major credit bureaus and this helps shape your credit score.

One final note about credit cards: when you decide to apply for one, make sure you understand all the fees and terms.

*Prepaid Card vs. Debit Card vs. Credit Card*

As you can see, there are quite a few key differences between the three cards above, so let’s discuss them in more detail.

*Benefits of the prepaid card*

A prepaid card is different from a debit card based on the fact that you don’t need a bank account to have a prepaid card. And, when you get a prepaid card you won’t be subject to any credit checks or inquiries into your banking history because you are using loading your cash onto the card. Another perk: you may be able to deposit your paycheck right onto your prepaid card.

*But that prepaid card may not be so safe to use*

While prepaid cards can look and feel like debit cards, they aren’t as safe as debit cards. Why? Since debit cards are connected to your checking account, you can easily monitor your account and spending online for free. Your money will also generally be protected if your debit card gets lost, stolen, or wrongfully charged.

*Now let’s talk about credit cards vs. debit cards*

Credit cards are different from both prepaid and debit cards due to the fact that when you use a credit card you are borrowing money while hopefully building a solid credit history. Better yet, many credit cards offer rewards in the form of points or cash back that can be redeemed for statement credits, travel, or merchandise. Some people like to use credit cards to purchase groceries, gas, and other everyday needs in order to rack up reward points.

As long as you’re not overspending and can pay your bill off in full each month, there’s nothing wrong with using this strategy. However, if you struggle with controlling your spending, you may want to steer clear of using credit cards for your daily purchases.

Instead of credit cards, consumers often choose debit cards for everyday spending. Why? Debit is safer than cash, you can monitor your activity online with mobile banking, and you can choose a bank that doesn’t have fees.

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Meme303 wrote on 21.11.2019 at 11:16

جي


MAFI wrote on 29.12.2019 at 14:26

Good Information


MAFI wrote on 06.01.2020 at 10:35

good information



Mon-Mon - 03.04.2019 - 11:10:39

Prepaid Card Vs. Debit Card

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in the category Cards

Prepaid cards and debit cards have some important similarities and differences. You can get these cards even if you have a bad credit history. You must have a bank account to have a debit card because it is linked directly to the account. A prepaid card simply requires money to purchase or reload the card. They don't affect your credit score, but both give you a convenient way to buy things without having cash on hand.

Types

Prepaid cards and debit cards come with a Visa or MasterCard logo. Prepaid cards can also be linked to a specific brand for stores, gas stations, restaurants or other businesses.

Function

Prepaid cards and debit cards have a similar function. They both let you spend money directly instead of borrowing funds like you do with a credit card. Cards that are branded as Visa or MasterCard can be used to pay for purchases at stores, online retailers and just about any other merchant that accepts those credit cards. Prepaid cards that are linked to a specific retailer, restaurant or other business can only be spent at that business or possibly its affiliates.

Funding

Prepaid cards are funded by adding money to the card. You cannot use a credit card to recharge a Visa or MasterCard branded prepaid card, but you can add funds with cash or a check. But you can buy certain types of prepaid merchant cards and gift cards with your credit card. For example, most restaurants and retailers will let you pay for prepaid gift cards with a credit card. Debit cards are funded by the bank account to which they are attached.

Cost

Debit cards are usually free, although some banks impose service fees. In most cases you will only have to pay if you overdraw your bank account and don't have overdraft protection. Prepaid cards branded as Visa or MasterCard usually have a monthly fee to keep the card active. You must have enough money loaded on the card each month to cover the fee.

Limitations

Prepaid credit cards and debit cards both have limitations. A pre-paid card is limited to the amount of funds you previously loaded onto the card. Purchases will be declined once that limit is reached. Banks or credit issuer warns that prepaid cards linked to a specific merchant may have an expiration date. You will lose the money if it is not spent before it expires. Most of the time, a debit card is limited to the amount of money you have in the linked bank account. Some banks offer overdraft protection, so you may be able to tap into that coverage if you spend more than you have in your account. This may incur interest and fees.

Reuse

Debit cards can be used for as long as you maintain your bank account. They usually have an expiration date, but your bank will issue a new card when the old one expires. Most prepaid cards can be reloaded after you spend the initial balance. You can keep reusing them as long as you keep adding more money.


Marwa90 wrote on 04.04.2019 at 09:55

Thanks for posting this tip, it's very important to know these points about debit & credit cards..

Have a lovely day :)


Pheeleeszeetee wrote on 07.05.2019 at 10:06

Useful


AdhamAttia wrote on 14.09.2019 at 13:08

Great effort thanks



Raouf - 01.04.2019 - 02:17:58

بطاقة العملات

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in the category Prepaid Card

بطاقة مسبقة الدفع تعتمد على المبلغ الدي تضعه فيها ويمكن استخدامها بعدة عملات رئيسية وتكون مفيدة جداً للمسافر ويضمن ان تكون نقوده في بطاقة وليست نقدي وان سعر الصرف ممتاز بالنسبه له.


Rawyaabdalla wrote on 29.06.2019 at 01:23

يوجد عدد من البطاقات تعمل بنفس الكيفية اغلبها تصدر من الصرافات.


Meme303 wrote on 21.11.2019 at 11:16

جيد جدا



Mon-Mon - 26.03.2019 - 14:41:52

Commitment savings

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in the category Investments and Wealth Management

Creating a fun-filled environment is the best way to stimulate self-reliance entice yourself to create your own savings. The plan includes the closest person to you, your partner or your spouse, you both can prevent one another if the chances of doubt come

When you are with them, you will be involved with your whole family. It's also a good idea to encourage with your friends to saving money.

At present, no matter how personal lives we talk about, but also our investment opportunities and how we can help each other. You can create a commitment savings to get yourself involved and disciplined yourself to save.

How does commitment saving work?

Commitment savings is a way to prevent yourself in which you cannot able to expend your savings. To do so, you need to involve a trusted friend to help you.

This friend decides if you can use your savings based on your agreed conditions. It will make it easier if you build a savings goal or contract date as a condition for withdrawing your savings.

Talk to this friend and explain your savings goal or defined date for commitment savings. He will limit your access to your savings as long as you cannot show the forecast enough that you have accumulated for your savings goal or beyond your agreed time.

Emergency cases may also be a condition of withdrawal such as accidents, medical emergencies, and other life-and-death scenarios. Otherwise, you cannot withdraw from your account.

You must also tell the amount you regularly apply to the bank and show proof of every deposit in your account. Make sure you only have your account in your name and do not need to open a joint account with that other friend.

Make it inspired the Financial Goal

Whenever you encounter trials, difficulties and temptations to save money, visualize yourself in situation to your financial goal. It is often effective in calming and continuity initiated.

I cannot emphasize what I mentioned earlier that your savings goal must be very clear and specific, so you can see you’re self-evident in its fulfillment. It is the best way of giving life to the will, and building inspiration and motivation.


ABRAR1995 wrote on 26.03.2019 at 17:17

good


Francine wrote on 26.03.2019 at 23:30

Thanks mon-mon very interesting, Sorry to dislike but unfortunately it is by mistakes to hit it.



idealisticguy - 21.03.2019 - 00:51:47

ADIB PREPAID CARD

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in the category Prepaid Card

i hope ADiB have a A stored-value card is a payment card with a monetary value stored on the card itself, not in an external account maintained by a financial institution. This means no network access is required by the payment collection terminals as funds can be withdrawn and deposited straight from the card.



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