Insurance

Debit Card Physical Damage Insurance

The Unemployment Insurance offered to Personal Needs Loan and installment card holders provides financial protection designed to cover the customer’s existing credit obligations in the event of job loss.
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Terms

Eligible Beneficiary: Debit card holders

Covered Risks:

-Theft and robbery -Incidents occurring at ATMs -Fire-related risks -Natural disasters -Intentional actions by third parties -Loss of the card -Other unforeseen events -In cases where the card is physically damaged or lost, it is replaced free of charge by the

Bank upon the customer’s request

-The insurance certificate becomes effective simultaneously with the plastic card agreement and remains valid for the duration of the agreement. -During the validity period of the insurance certificate, cards with a 1-year validity can be replaced once free of charge, while cards with a 3-year validity can be replaced up to three times.

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With the Card Damage service offered to debit card holders by Kapital Bank, your plastic cards can be protected under insurance coverage. In cases where the debit card is physically damaged or lost due to specific circumstances, the card will be replaced free of charge by Kapital Bank upon the customer’s request. During the validity period of the insurance, cards with a 1-year term can be replaced once, while cards with a 3-year term can be replaced up to three times at no cost. The covered risks under this insurance include theft and robbery, incidents occurring at ATMs, fire-related risks, natural disasters, intentional actions by third parties, loss of the card, and other unforeseen events. The insurance certificate becomes effective simultaneously with the plastic card agreement and remains valid throughout the card's active usage period. The insurance fee is paid in cash at the cashier at the time of issuance.
 

Frequently Asked Questions
What does Debit Card Physical Damage Insurance cover?

Debit Card Physical Damage Insurance provides protection against physical damage such as card breakage, bending, or malfunction of the chip or magnetic stripe, ensuring the card is replaced free of charge in such cases. It also covers situations where the card is lost or stolen, allowing the customer to receive a new card within the scope of the insurance.

What should I do to receive compensation if my card is damaged or lost?

If your card is damaged or lost, you must immediately report it through the Birbank mobile application or the bank’s customer service. Once your request is registered, your card will be blocked under the insurance coverage, and you will be directed to obtain a free replacement card. To complete the process, identity verification is sufficient, and no additional documentation is required.
 

Does this insurance protect the funds on my card balance as well?

No, this insurance applies only to the physical damage or loss of the card itself and does not cover the balance on the card. The security of your funds is ensured through the bank’s general security systems and transaction monitoring. “Debit Card Physical Damage Insurance” is limited solely to the free replacement of the card.
 

Does the insurance require additional activation to become valid?

No, Debit Card Physical Damage Insurance does not require any additional activation. The service is applied automatically from the moment your card is issued, and in the event of physical damage or loss, repair or free replacement is provided under the insurance coverage.
 

Which situations are specifically considered physical damage?

Physical damage generally refers to cases such as card breakage, bending that renders the card unusable, malfunction of the chip or magnetic stripe, cracking, or deformation of the card. Since such damage prevents normal use, the insurance ensures the card is replaced free of charge.

How many times can the card be replaced free of charge under the insurance?

Under the insurance coverage, your card can be replaced free of charge multiple times in cases of damage or loss, as no specific limit is defined for the service. The main requirement is that the request is based on an actual damage or loss event and that the procedures set by the bank are followed correctly.
 

Do I need to provide a police report if my card is stolen?

No, you are not required to provide a police report if your card is stolen. You only need to report the theft immediately through the Birbank mobile application or the bank’s customer service. Your card will be blocked, and the process of issuing a free replacement card under the insurance coverage will begin. No additional official documentation is required.

How much does this insurance cost?

The cost of this insurance may vary depending on the card type. For some debit cards, the service costs 3 AZN, while for certain other card types, it may be offered free of charge
 

Is my balance at risk if my card is lost?

No, your balance is not at risk if your card is lost. As soon as you block the card via the Birbank application or customer service, all transactions are halted, preventing any use by third parties. Since withdrawing or spending funds requires the card to be physically present or digitally verified, timely blocking fully protects your balance.
 

Are fraud risks related to online payments included in this insurance?

No, fraud risks arising from online payments are not included in this insurance. “Debit Card Physical Damage Insurance” only covers free replacement of the card in cases of physical damage, loss, or theft. The investigation and protection of fraud-related transactions are handled through the bank’s security systems and relevant anti-fraud mechanisms.