payzone™ worldwide money is an electronic money product issued and operated by Banque Invik S.A. and distributed by Smart Transfer Ltd. By purchasing, loading or using the payzone™ worldwide money Prepaid Card, the Cardholder constitutes his/her agreement to the current General Terms and Conditions and eventual disclosures and to any additional terms that may apply to the payzone™ worldwide money as published on the Website.
2. CARDHOLDER’S GENERAL OBLIGATIONS
The Bank - Banque Invik S.A., the issuer of the Card whose registered office is at
2-4 Avenue Marie-Thérèse, L-2132 Luxembourg, www.banqueinvik.lu, R.C.S. Luxembourg B 29962 and its successors and agencies.
Card - the payzone™ worldwide money Prepaid Card issued to a Cardholder.
Card Fund - the amount of money deposited to the Card by the Cardholder with the Bank, less all fees, withdrawals and disposals made by the Cardholder.
Credentials - any, several or all of the following information: the PIN, the Website password the CVV2 Code, the CVC2 Code, the Card’s expiry date or the 16-digit card number.
CVV2 Code (Visa) or CVC2 Code (MasterCard) - a 3-digit card verification value code that represents a digital signature which is required for every online transaction. The value code is either present on the reverse side of the Card or for safety reasons exclusively in the online account provided.
Fee - any fee due by the Cardholder to the Bank under the current General Terms and Conditions or as on the Website.
PIN - the personal identification number issued by the Bank.
Visa, Visa Electron, Visa PLUS or MasterCard - the card brand or acceptance mark referring to the international licensor of the Card.
Website - the Internet website available at the address www.payzonemoney.ie or any other address communicated by the Bank from time to time.
2.1 The Cardholder must have attained a minimum age of 18 years.
2.2 The Cardholder is liable for complying with the current General Terms and Conditions and shall be solely liable for any direct and indirect consequences arising from any breach by the Cardholder of the current General Terms and Conditions. The current version of the terms and conditions is available on the Website. Usage of the Card constitutes the cardholders acceptance of these terms and conditions.
2.3 The Card is an electronic means of payment with retailers affiliated to the Visa and/or MasterCard network and a means of cash withdrawing at cash dispensers. It is not transferable and shall only be used by the Cardholder strictly in accordance with the current General Terms and Conditions.
2.4 The Card shall at all times remain the property of the Bank.
2.5 The Cardholder must sign the Card on the signature panel on the reverse side of the Card immediately upon receipt.
2.6 The Cardholder must exercise all possible care to ensure the safety of the Card.
2.7 The Cardholder is responsible for maintaining the Credentials strictly confidential and for preventing the Credentials from becoming known to any person.
3. CARD LIMITS: LOAD / SPEND/ ATM WITHDRAWALS
For Card activation, loading/reloading and transfer instructions, please refer to the information delivered with the Card and the instructions available on the Website. By submitting the Card related details the General Terms and Conditions are automatically accepted.
Catella Bank reserves the right to adapt the card limits at any time in accordance with Luxembourg and/or any applicable local requirements. Load and transaction fees will apply as detailed in the FEES section. The following limits apply for the Card;
Card Load: €2,500 per rolling 12 months once Cardholder details have been registered and verified. This limit is subject to a single transaction limit of €500 and a daily limit of €2,500.
Card Spend: (online & in-store) : €2,500 per rolling 12 months once Cardholder details have been registered and verified. Single transaction limit of €2,500. Daily limit of €2,500.
ATM Withdrawal: €1,000 per rolling 12 months once Cardholder details have been registered and verified. This limit is subject to a single transaction limit of €500 and a daily limit €1,000.
Upgraded Limit: €15,000 for the lifetime of the card, once Cardholder identification is duly completed and verified according to procedure defined on Website. Single transaction and daily limits as outlined above will still apply.
4. USE OF CARD
4.1 The Card can be used to withdraw cash from more than 1 million ATMs that display the Visa PLUS and/or MasterCard (depending on the Card’s brand) acceptance marks. For more information regarding ATM locations refer to the Visa and/or MasterCard websites (www.visa.com / www.mastercard.com). The minimum withdrawal amount is defined by the local ATM in the local currency. ATM access is only provided to Cardholders who have completed the Card registration process. Fees apply for ATM withdrawals and ATM declines as detailed in the Fee section.
4.2 The Card can also be used as payment card at more than 29 million high-street and Internet merchants displaying the Visa Electron and/or MasterCard acceptance marks (depending on the Card’s brand). In order to enable purchases on the Internet, the Card needs to be registered on the Website. The Cardholder must provide the password in order to complete the registration. Upon registration, a specific 16-digit number, a 3-digit CVV2/CVC2 Code and an expiry date will be provided which are required for every online transaction.
4.3 The Bank reserves the right to temporarily reserve a TIP provision on transactions made at selected Merchants to make sure Card Funds are available to cover any TIP given after authorisation is obtained by the Merchant. This TIP provision will be released once transaction has been cleared thought the VISA or MasterCard network.
4.4 Where the Cardholder signs the record of transaction or uses the Credentials for a purchase or uses the PIN at an ATM, the Cardholder gives the Bank irrevocable authority to pay the retailer or the bank and to debit the Card Fund. The records of statements sent by the retailer or bank, as the case may be, even in the absence of a written signature, are taken as a proof of transaction. The transaction slip printed by the terminal is for the Cardholder’s personal information only.
4.5 In accordance with Luxembourg law, the records of transactions created or received by the Bank will constitute evidence of the existence, amount and conditions of transactions.
4.6 The amount of any transactions in a currency other than the Card’s currency will be converted at Visa’s and/or MasterCard’s rate at the time the Card Fund is debited. The Bank applies a currency conversion spread or fee as detailed in the Fee section. Upon use of card, the converted transaction amounts are shown for information only until the transaction has been fully settled within the Visa/MasterCard system, and may change in accordance with currency fluctuations.
4.7 The Bank will only give the Cardholder a refund on his Card Account for a transaction reversed by the retailer. This also applies to recurring transactions which are transactions where the Cardholder agrees to a series of transactions to be made to the Cardholder’s Card Account. If the Cardholder wishes to cancel a recurring transaction he must contact the retailer as The Bank cannot cancel the transaction for the Cardholder. Where the Cardholder makes a purchase The Bank will assist the Cardholder to gain a refund if: (a) the Cardholder did not agree on the amount with the retailer when the Cardholder made the purchase; (b) the amount of the transaction charged to the Card Account by the retailer is more than the Cardholder could reasonably have expected in the circumstances of the purchase; and (c) the Cardholder asks The Bank for a refund within eight (8) weeks of The Bank debiting the transaction from the Card Account. If the Cardholder asks The Bank for a refund under this condition the Cardholder must provide The Bank with factual elements relating to this condition. The Cardholder cannot use a claim he may have against someone else to make a claim against The Bank , or refuse to pay The Bank, unless the Cardholder has a legal right to do so. The Cardholder cannot transfer any rights against The Bank to anyone else.
4.8 It is not permissible to overdraw the Card Fund. If the Card Fund becomes inadvertently overdrawn, the amount overdrawn must be repaid immediately by the Cardholder. In such situations, the Bank reserves the right to deactivate, suspend or cancel the Card at any time.
4.9 The Card is valid for a maximum period of three (3) years after initial purchase and/or loading regardless of the expiration date applicable to Internet transactions. The Card may be reloaded during its period of validity subject to the applicable limits and in accordance with the procedure detailed in section 3.
4.10 The Bank may charge an annual Fee for the Card as stated in the Fee section. An early termination of the Card and/or the current General Terms and Conditions does not entitle the Cardholder to claim a reimbursement of the annual Fee.
4.11 The Bank reserves the right to suspend or cancel a Card which has been dormant for a period of more than 12 months.
4.12 The Card is limited to one card per individual and cannot be registered on a corporation’s behalf.
4.13 If the Card Fund is not sufficient to cover any Fee due by the Cardholder to the Bank under the current General Terms and Conditions, the Bank reserves the right to deactivate, suspend or cancel the Card until sufficient coverage is provided.
5. KEEPING TRACK OF CASH WITHDRAWALS AND BALANCE
5.1 ATM withdrawals: Many ATM’s can provide a receipt at the time a withdrawal is made from the Card Fund. The Bank reserves the right to charge a Fee for ATM balance enquiries.
5.2 Transaction History: Information can be accessed online via the Website or can be requested from the Bank.
5.3 Balance Enquiry: Information regarding the Card Fund is available online via the Website or can be requested from the Bank.
6. THEFT OR LOSS OF THE CARD
6.1 In case of the Card being lost or stolen, in case of improper use of the Card noticed by the Cardholder or in the event of the intentional or unintentional disclosure of any, several or all of the Credentials, the Cardholder must:
(a) IMMEDIATELY NOTIFY the Bank, by telephone to the Assistance Center on +353 (0)1 5245245 during office hours or by means of the Website (on a 24/7 basis);
(b) CONFIRM IMMEDIATELY the Notification in writing by registered letter with acknowledgement of receipt to: Banque Invik Cards, P.O Box 118, L-8303 Capellen, Luxembourg.
6.2 The Notification must be made by the Cardholder himself/herself, except in the case of force majeure. With respect to the Notification, the Cardholder is liable for providing accurate and complete information to the Bank, in particular without limitations:
(a) The Cardholder’s first name and last name; and/or
(b) The number of the Card.
6.3 The Cardholder shall be fully liable for any consequences arising from any wrong, obsolete or incomplete information provided to the Bank.
6.4 The Card is immediately blocked upon receipt of the Notification.
6.5 The Cardholder shall bear the losses relating to any unauthorised transactions, up to a maximum of €150, resulting from the misuse of the Card or the use of a lost or stolen Card. The Cardholder shall bear all the losses relating to any unauthorised transactions if the Cardholder incurred them by acting fraudulently or by failing to fulfil one or more of his obligations under clause 2 or 6 with intent or gross negligence. In such cases, the maximum amount of €150 shall not apply. The Cardholder shall not bear any financial consequences resulting from use of the misused, lost or stolen Card after notification except where the Cardholder has acted fraudulently.
6.6 If the Cardholder finds the Card after the Notification, the Card must be cut in two and returned to the Bank (at the above address) immediately.
7.1 The redemption regulations of the Bank are strict. The Bank strongly recommends that rather than requesting cash-back, the Cardholder empties the Card by using an ATM machine, or using the Card until the Card Fund is exhausted.
7.2 If at any time the Cardholder decides to cancel the Card and request redemption, the following rules will apply:
8. WITHDRAWAL OF THE USE OF THE CARD
(a) A redemption can only be made after the Card has been cancelled;
(b) A redemption can only be made by a single bank transfer to the account held in the name of the Cardholder;
(c) The Bank have the right to require the Cardholder to submit proper and valid Cardholder identification prior to redemption execution;
(d) The Bank will charge a Fee of €15, which will be deducted from the Card Fund prior to execution of the redemption.
8.1 The Bank may, in its discretion, at any time and without notice, deactivate, cancel or suspend the right to use the Card or refuse to reissue or renew or replace the Card if the Bank has grounds to believe that the Cardholder is in breach of (1) the General Terms and Conditions, and/or (2) any applicable local legislation/regulations, and/or (3) the VISA/MasterCard regulations, without affecting the Cardholder’s obligations which shall continue to be operative. In such an event, the Card must be returned immediately to the Bank. The Bank will not accept any liability for the direct or indirect consequences arising from any deactivation, suspension or cancellation of a Card in accordance with the terms of the current General Terms and Conditions.
8.2 In addition, the Bank may, in its discretion and at any time, refuse to authorise a transaction and may publicly disclose this refusal to other credit institutions.
9.1 The amounts of fees and charges and details of when they will be payable are set out below. All other fees and charges will be debited directly to the card as they arise.
10. BANK LIABILITY
(a) Registration fee: €3.95 if support from Assistance Center is required to complete registration. Free registration available through the Website
(b) Purchase fee: 2.95% of purchase value
(c) ATM withdrawal fee: €1.50 per withdrawal
(d) Inactive account fee: €3.50 per month, if the Card is not used for over 2 months, the fee will be charged every consecutive month thereafter.
(e) Currency Conversion fee: 5%
(f) Card replacement fee: €6 per request
(g) ATM decline fee: €0.50 for each denied ATM withdrawal attempt.
(h) Loading fee: Payable at point of sale. Refer to Website for details.
(i) Government Stamp Duty: €5 per year charged to qualifying cards at the end of December each year according to Irish revenue regulations.
10.1 The Bank shall not be liable for any direct or indirect damages if the Card or a specific transaction is refused or not honoured by a merchant or a bank or an ATM. The Bank does not bear any responsibility for errors committed by merchants or banks or ATMs. The Bank will not be obliged to enter into any dispute arising between the Cardholder and a merchant or bank and, moreover, a dispute with a merchant or bank does not absolve the Cardholder from complying with regulations governing the use of the Card and the current General Terms and Conditions.
10.2 The Bank shall not be liable if it is unable to perform its obligations under this Agreement due (directly or indirectly) to the failure of any machine, data processing, system or transmission link or to industrial dispute, altered legislation or license requirements or anything outside the Bank’s control or the control of the Bank’s agents or contractors.
10.3 Without prejudice to the above, the liability of the Bank in relation to the Card, the associated services and the current General Terms and Conditions shall be limited to its gross negligence or serious misconduct or wilful default. In any event, The Bank’s liability under or in connection with this Cardholder Agreement is limited to the greater of:
(a) The amount of fees paid to The Bank in the twelve (12) months prior to the liability arising; or
(b) The value of the Transaction or the stored balance giving rise to the dispute.
11.1 To report claims or errors regarding the Card Fund or to request general information about the Card, the Bank can be contacted by mail or telephone as detailed in section 6.
11.2 When calling or writing the following information needs to be provided:
(a) Name and Card serial number (found on the Card’s reverse side);
(b) A description of the suspected error or transaction and/or the reason of the information request;
(c) The local currency and amount of the suspected error or transaction; and
(d) Cardholder’s date of birth, current address and telephone number.
11.3 If the Bank is informed verbally, the Bank may require that the complaint or question be confirmed by the Cardholder in writing within 24 hours.
12.1 The Bank reserves the right to change (1) the current General Terms and Conditions, (2) the characteristics and features of the Card and (3) the Fees at any time. The new General Terms and Conditions/Card’s characteristics and features/Fees will be made available on the Website at least two (2) month before their entry into force.
12.2 The Cardholder hereby:
(a) Acknowledges that his/her relationship with the Bank is as least partially based on electronic communications, made in particular through the Website and deems this means of communication appropriate to the nature of his/her relationship with the Bank;
(b) Declares that he/she will consult the Website regularly; and
(c) Accepts to be informed of any such change by means of the Website.
12.3 Should the Cardholder oppose such changes, the Cardholder shall have the right to terminate the current General Terms and Conditions immediately by returning the Card to the Bank before the entry into force of the proposed change and shall be entitled to receive the then available Credit Fund due under the current General Terms and Conditions by notifying the termination and keep using the card until exhausted.
12.4 Continued use of the Card and the associated services after the entry into force of the proposed changes shall constitute the Cardholder’s consent to such changes.
13.1 The Bank reserves the right to terminate the payzone worldwide money product at its sole discretion.
13.2 In the event of termination, the Bank will provide the Cardholder with a formal notification of termination via email and by means of a notice within the Cardholder's online account.
13.3 The formal notification of termination, whether communicated via email or notified within the online account, will contain such details as: a) the period remaining within which the Cardholder can load funds onto the card, b) the period remaining within which the Cardholder can use the card to make purchases or to make ATM withdrawals, and c) the mechanism by which the cardholder can avail of any remaining funds on the card.
14. DATA PROTECTION
14.1 The Cardholder hereby gives consent to The Bank to collect, process and share personal data on the Cardholder (1) insofar as necessary to issue and service the Card and/or (2) as necessary for the performance of the current General Terms and Conditions and/or (3) for marketing purposes. The data will be communicated to other banks and financial intermediaries as necessary to perform the transactions made by means of the Card and/or as necessary to service the Card. The circumstances for disclosure of any information or records by the Bank includes requests by Smart Transfer Ltd. or any of its subsidiaries or affiliates or orders by any competent court or if failure to disclose would render the Bank or any of its affiliates, personnel, assets or operations liable to any sanction. The Cardholder has the right to access and rectify their data by contacting the Bank. A retrieval fee of €7.50 is charged to cover The Bank’s cost. The data will be retained for the period provided for by the applicable law/regulations.
14.2 By entering into this Agreement, the Cardholder confirms that he is fully aware of and willing to assume all risks resulting there from and hereby irrevocably waives his rights to benefit from the protection of Luxembourg banking privacy at the entire discharge of the Bank with regard to all services provided to the Cardholder.
15. RECORDING OF PHONE CONVERSATIONS AND ELECTRONIC COMMUNICATIONS
15.1 The Cardholder acknowledges and agrees that the Bank or the Assistance Center has the right to register and keep records of telephone and electronic communications. The right to register and keep any record of such communications shall not trigger any liability by the Bank.
16. ANTI-MONEY LAUNDERING COMPLIANCE
16.1 In accordance with applicable legislation to fight money laundering and financing of terrorism the opening of any client relationship, including a Cardholder relationship, is subject to proper Cardholder identification by the Bank. The cardholder hereby represents that he/she will without delay disclose any requested information to the bank, keep such information up-to-date and inform the Bank of any relevant change.
17. GOVERNING LAW AND JURISDICTION
17.1 The current General Terms and Conditions shall be exclusively governed by and interpreted in accordance with the laws of Luxembourg.
17.2 The Bank will primarily communicate with cardholders in English, French or German.
17.3 The Bank is registered on the official list of credit institutions held by the Luxembourg regulatory authority, the Commission de Surveillance du Secteur Financer (CSSF), situated at 110, route d’Arlon, L-1150 Luxembourg.
17.4 Any dispute, controversy or claim arising in connection to a Card, a transaction made by means of a Card, the Card Fund and/or the current General Terms and Conditions shall be exclusively settled by the courts of district of Luxembourg. Before resorting to any legal proceedings against The Bank, the Cardholder may avail of The Bank’s claims procedure and of the claims procedure provided for in Article 58 of the Act of 5 April 1993 relating to the financial sector. Pursuant to this text, the CSSF is empowered to handle customer claims in relation to entities subject to its supervision and to intervene with said entities in order to settle any such claims amicably.