Reada wallet

Reada electronic wallet

The Reada wallet will let you pay premiums instantly, receive claim payments and refunds, send money to your family, and top up and withdraw, once it holds a Central Bank of Iraq e-payment licence or works through a licensed partner. The wallet is not switched on today; before then it may open in test mode with balances that have no monetary value.

The wallet launches with real money once it holds a Central Bank of Iraq e-payment licence or works through a licensed partner. Until then it may appear in test mode with balances that have no value.

What the wallet will offer

Instant premium payment Coming soon

Once the wallet is activated, you will pay your premium from your balance; the policy is issued and your copy is ready at once.

Faster claim payments Coming soon

Once the wallet is activated, you will receive claim payments and refunds in it.

Send to loved ones Coming soon

Once the wallet is activated, you will be able to send to any customer wallet after checking their masked name.

Cash-in at agents Coming soon

Once the wallet is activated, you will be able to top it up with cash at approved Reada agents.

Top up by card Coming soon

Once the wallet is activated, you will be able to top up through the secure payment gateway, or pay the premium by card directly.

Withdrawals Coming soon

Later, withdrawals will let you move your balance to your bank account, once the licence is active and after a finance check.

How your balance will be protected

Every movement will be a double entry in a ledger that cannot be edited or deleted, and total balances will be reconciled with the safeguarding bank account once it is opened.
Balances and spending will have limits by verification level, with compliance alerts for large amounts.
An independent finance checker will approve withdrawals, cash deposits and corrections.
Any wallet can be frozen at once on suspicion, and lifting the freeze will need a second compliance officer.