1. About these terms

1.1 These terms govern the Kestrl Referral Programme (the Programme). The Programme has three rewards: Tickets for the Umrah Prize Draw, a free physical card, and a cash reward.

1.2 The promoter is Kestrl Invest Limited (company number 16081471), Salisbury House, 29 Finsbury Circus, London EC2M 5SQ (Kestrl, we, us). Your Kestrl account and card are issued by AF Payments Limited (company number 09356276), an electronic money issuer authorised by the Financial Conduct Authority (FRN 900440), under its Kestrl Account and Mastercard Card Terms and Conditions. The Programme is run by Kestrl, not by AF Payments Limited.

1.3 You accept these terms when you share your referral link or code, or when you use one to apply for an account. They apply alongside your Kestrl account terms. If the two conflict on anything about the Programme, these terms apply.

1.4 Each Campaign (for example, a specific Umrah Prize Draw or a cash reward window) may have its own Campaign Details, which we set at our discretion and communicate in the app and through our usual communication channels. Campaign Details form part of these terms.

1.5 These terms are effective from 9 October 2026. Previous versions are available on request.

2. Key words

3. Who can take part

3.1 To be a Referrer, you must:

• be aged 18 or over and resident in the United Kingdom;

• have an open, active Kestrl account that is not restricted, suspended or closed; and

• have activated your account, meaning you have passed our identity checks (KYC) and created your card PIN.

3.2 To be a Referred Friend, you must:

• be aged 18 or over and resident in the United Kingdom;

• never have held, applied for or started signing up for a Kestrl account before, including through Muslim Money or any earlier Kestrl app or waitlist; and

• be eligible to open a Kestrl account under our normal checks.

3.3 You cannot refer yourself, or open a second account to refer yourself. Kestrl employees, their immediate families and anyone professionally connected with running the Programme cannot receive rewards.

3.4 Referring someone does not guarantee they will be given an account. We decide every application under our normal policies and do not have to give reasons.

4. How referring works

4.1 Your unique referral link and code are in the Kestrl app. Your Referred Friend must use your link or enter your code when they apply. We cannot add a code after an application has been submitted, and only one code can be used per application.

4.2 A referral becomes a Successful Referral only when the Referred Friend has:

1. passed our identity checks (KYC);

2. deposited at least £100 into their Kestrl account from an external account in their own name; and

3. completed the Hold Period of 14 qualifying days with a balance of at least £100.

4.3 If the Referred Friend's balance falls below £100 during the Hold Period, the count pauses. It continues once their balance is back to £100 or more, and any qualifying days already counted are kept.

4.4 There is currently no time limit for a referral to become successful. We may introduce one, and will give notice in the app before it applies to new referrals.

4.5 You can follow each referral in the app. The stages are:

4.6 We may share these stages with you. We will not share your friend's balance, transactions or any other personal information.

4.7 You must only share your link with people you know and who are happy to hear from you. You must not spam, buy advertising for your link, post it on voucher or deal websites, or describe Kestrl, its products or the rewards in a misleading way.

5. Kestrl Points: free card and cash reward

5.1 You earn 100 Kestrl Points for each Successful Referral. Your points build up in a single balance shown in the app.

5.2 You can spend Kestrl Points on:

5.3 Kestrl Points are used up when spent. Spending points on one reward reduces the points left for the other. For example, if you have 400 points and spend 300 on a free card, you have 100 left and need 4 more Successful Referrals to claim the cash reward.

5.4 Free card. The free card option appears when you order your first physical card, and again only if you need a replacement because your card is lost, stolen or has expired. It is not available at other times. The waiver applies only at the moment you order. If you pay the £9.99 fee and later reach 300 points, we will not refund the fee; the option returns the next time you are due a card.

5.5 Delivery and other card fees are set out in our fee information. The free card includes standard Royal Mail delivery to your registered home address. Express delivery, or delivery to any other address or third-party location, is not included and will be charged at the rate in our fee information.

5.6 Cash reward. Cash rewards are offered only during cash Campaigns, which we run from time to time and announce in the app and by email. The cash reward amount may vary between Campaigns. The amount on offer at any time is shown in the app, and each Campaign's dates and amount are set out in its Campaign Details. You can claim one cash reward per Campaign. The cash reward is paid to your Kestrl account within 30 days of claiming.

5.7 Kestrl Points have no cash value. They cannot be exchanged, transferred, sold or combined with another customer's points.

5.8 Kestrl Points do not currently expire. We may introduce an expiry period, and will give at least 30 days' notice in the app before it applies. Points are cancelled if your account closes.

5.9 We may change the number of points a reward costs, or the rewards available, under section 9. Points you have already earned will not be removed because of such a change.

6. Umrah Prize Draw

6.1 Tickets. Each Successful Referral gives you one Ticket. Tickets are separate from Kestrl Points and are never spent. They carry forward into every future Umrah Prize Draw, so the more people you refer, the more Tickets you hold. Entry is free and automatic: no purchase, fee or payment of any kind is needed to enter.

6.2 Qualifying Balance. Your Tickets only count in a draw if you hold a Qualifying Balance of at least £2,500 of your Own Funds in your Kestrl account at the Campaign close date. If your balance falls below £2,500, your Tickets are kept but will not count until you restore it. We will tell you in the app if you fall below the Qualifying Balance during a Campaign. Your money remains yours and you can withdraw it at any time; holding it is not a payment to enter. Keeping a Qualifying Balance is entirely optional and is not needed to use your Kestrl account. You should only keep balances with Kestrl where this suits your personal circumstances and financial objectives.

6.3 Campaigns. Each draw is run as a Campaign. Its opening date, closing date and draw date will be set out in its Campaign Details and announced in the app, by in-app message and by email.

6.4 The draw. The winner is selected from all eligible Tickets using an automated random selection process, with each Ticket having an equal chance. The process is independently verifiable: we keep a record of the Ticket list, the method used and the result for every draw. The draw takes place within 7 days of the Campaign closing.

6.5 Who cannot win. Previous Umrah Prize Draw winners are permanently excluded from all future draws. We may also exclude anyone who has broken these terms.

6.6 The prize. The prize covers flights and hotel accommodation for an Umrah trip, up to a maximum total value of £2,000, unless the Campaign Details say otherwise. Our team will work with the winner to agree suitable bookings. The winner books and pays for the agreed flights and hotels, then sends Kestrl the receipts, and we will reimburse the approved costs up to £2,000 within 14 days of receiving valid receipts. Costs above £2,000, and anything other than flights and hotels (such as visas, travel insurance, spending money and travel to the airport), are the winner's responsibility. There is no cash alternative, and any unused part of the £2,000 cannot be paid out or carried forward.

6.7 Travel conditions. The winner and any companion must hold valid passports and meet all entry and visa requirements of the Kingdom of Saudi Arabia. Travel dates must be agreed with Kestrl in advance of booking. We are not responsible if travel cannot go ahead because the winner does not meet these requirements, or because of government restrictions.

6.8 Notifying the winner. We will contact the winner by app message, email and phone within 3 days of the draw. The winner must accept within 14 days. If they do not, or are found ineligible, we will draw again from the remaining eligible Tickets.

6.9 Telling other entrants. After the winner accepts, we will let all entrants know the result in the app and by email.

6.10 Publicity. By entering, you agree that, if you win, we may announce you as the winner in the app, by email and on our social media channels using a partially masked version of your name that shows only the first letter of your first name and surname (for example, "A**** S*******"). We will not publish any other personal information without your separate consent, except where required by law, regulation or applicable advertising rules. We are also required to make the winner's surname and county available to anyone who asks, and to the Advertising Standards Authority.

7. Historical referrals

7.1 Referrals recorded by Kestrl before 9 October 2026, including under earlier Umrah Giveaway campaigns, will be added to your account as Tickets only, once we have verified them against our records.

7.2 Historical Referrals do not earn Kestrl Points and cannot be used towards the free card or cash reward.

7.3 Each referred person can only be counted once. If a Historical Referral is the same person as a referral made through the app, it counts once.

7.4 Tickets from Historical Referrals are subject to the same Qualifying Balance and exclusion rules in section 6 as any other Ticket. If you think a referral of yours is missing, contact us within 60 days of launch and we will review it. Our records are final.

8. Fair use, fraud and reversing rewards

8.1 We may refuse, cancel or reverse any Kestrl Points, Ticket or reward, freeze your referral link, or remove you from the Programme if we reasonably believe that you or a Referred Friend:

• has broken these terms or your account terms;

• has used fake, duplicate or connected accounts, or referred yourself;

• has deposited funds only to trigger a reward and moved them out soon after;

• has acted fraudulently, dishonestly or in a way that abuses the spirit of the Programme;

• has an account that is restricted, under review or closed; or

• has taken part in any arrangement which, in our reasonable opinion, artificially increases referrals, balances, Tickets or Kestrl Points.

8.2 If a reward has already been paid and we later find it was not properly earned, we may take back its value from your Kestrl account. If there are not enough funds in your account, we may offset the amount against future rewards, points or incentives due to you, or take other reasonable steps to recover it. You agree this deduction is authorised by you.

8.3 We may limit the number of referrals one person can make in a given period. Any limit will be shown in the app.

8.4 If our records and yours differ, our system records decide whether a referral was made and when it became successful, unless there is an obvious error. If you disagree, you can raise it with us under section 9.

8.5 We may monitor referral activity, account usage, funding patterns and related customer activity to identify fraud, financial crime, money laundering, manipulation of the Programme or breaches of these terms. We may ask for further information or documents before awarding or releasing any reward.

9. General terms

9.1 Shariah compliance. The Programme, including the Umrah Prize Draw, has been reviewed by Kestrl's Shariah adviser. Entry to the draw requires no payment or stake, and no part of any participant's money is put at risk.

9.2 Tax. Rewards may be taxable depending on your circumstances. You are responsible for any tax due and should take independent advice if unsure.

9.3 Your data. We use personal data for the Programme in line with our Privacy Policy (kestrl.io/docs/privacy-policy), including to verify referrals, run the draw, prevent fraud and announce winners as described in 6.10.

9.4 Changes. We may change these terms, the rewards or the points costs. We will give you at least 30 days' notice in the app before any change that disadvantages you, unless the change is needed to prevent fraud or comply with the law. Changes will not affect rewards you have already earned or a Campaign already open.

9.5 Suspending or ending the Programme. We may suspend or end the Programme, or any Campaign, if it is being abused, for legal or regulatory reasons, or if continuing would harm Kestrl. Where we can, we will give notice in the app. If we end the Programme, we will honour referrals already in progress and give you at least 60 days to spend any Kestrl Points you hold.

9.6 Liability. We are not liable for any loss arising from your taking part, except where caused by our negligence or breach of these terms. Nothing in these terms affects your statutory rights.

9.7 Complaints. You can complain through the in-app chat or at support@kestrl.co.uk. We will handle complaints under our complaints policy. If you are not satisfied, you may be able to refer your complaint to the Financial Ombudsman Service.

9.8 Third parties. These terms are between Kestrl and the people taking part. No one else may enforce them under the Contracts (Rights of Third Parties) Act 1999.

9.9 Law. These terms are governed by the law of England and Wales. You may bring proceedings in the courts of England and Wales, or in your local courts if you live in Scotland or Northern Ireland.

9.10 Your interests. Programme rewards are not an investment return and should not be the primary factor in decisions about how much money you choose to keep with Kestrl.