Understanding Account Closure and Accessing Remaining Funds on Ziina
When your Ziina account is closed—whether proactively or following a compliance review—there are essential steps and timelines to be aware of regarding account access and the ability to cash out any remaining balance.
Account Closure Process and Restrictions
Account Access: Once your account is closed, you will no longer have access to it, and new transactions will not be permitted. This restriction also applies to any accounts linked with your phone number or Emirates ID.
Compliance Review: Accounts closed following a compliance review are typically subject to stricter oversight to ensure all regulatory requirements are met.
Claims and Cash-Out Timelines
Claims Period: A claims window of up to 45 days is implemented following account closure. During this period: - Payers associated with your account can raise any claims or disputes related to your account. - Your remaining balance is held securely by Ziina and cannot be accessed until the claims window closes.
Cash-Out Availability: Once the 45-day claims period ends, Any remaining balance will be available for cash-out. You can initiate the cash-out process through Ziina’s designated channels.
Exceptional Cases
Extended Dispute Resolution Periods: While the standard claims window lasts 45 days, certain cases may be subject to an extended dispute-resolution period of 45–120 days as regulated under the Central Bank of the UAE.
Important Notes
All balances are kept secure during the claims or dispute-resolution period, ensuring that funds are fully protected until resolution.
Restrictions on accounts linked with your phone number or Emirates ID prevent opening new accounts or reactivating old accounts during this time.
Being informed about these procedures ensures you know what to expect and how to recover your funds in case your Ziina account is closed.