This Terms and Conditions Agreement (the “Agreement”) apply to the My EU Pay Debit Mastercard Programme and Associated “My EU Pay Product(s)”, being My EU Pay physical Mastercard “Physical Card” or “Debit Card” or “MY EU Pay Card”.
You must read them carefully. In these Terms and Conditions "you" means the named My EU Pay virtual account holder and the authorised user of the My EU Pay Product(s). "We", "us" or "our" means My EU Pay Limited or IPS Solutions Ltd. “Website” means our website at https://www.myeupay.com
By purchasing and using the My EU Pay Product(s), you agree to be bound by the terms described herein and terms incorporated by reference. If you do not agree to these terms, you must not use the My EU Pay Product(s).
In this Agreement, a word importing one gender shall (where appropriate) include any other gender and a word importing the singular shall (where appropriate) include the plural and vice versa.
The My EU Pay Product(s) are issued by PSI-Pay Ltd pursuant to a license from Mastercard® International Incorporated.
The e-money associated with the cards is issued by IPS Solutions Ltd which is authorised and regulated by the Central Bank of Cyprus under the Electronic Money Law 2012 (register number 184.108.40.206 ). IPS Solutions Ltd is registered in Cyprus under registration number HE346719.
The My EU Pay Physical card(s) are the property of PSI-Pay Ltd and not transferrable to anyone else.
You can use your My EU Pay Product(s) at any location worldwide that displays the Mastercard acceptance mark.
Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
You register your interest to obtain a Debit Card by clicking on the “Card” icon at the bottom of the page of My EU Pay’s website here: https://myeupay.com/index.html.
To obtain your My EU Pay Product(s), you must email your request to firstname.lastname@example.org and we will provide detailed information on how to obtain your Card.
Upon confirmation by My EU Pay that you passed the CDD process, your Debit Card will be posted to you at the address you provided us. Time delivery within the United Kingdom is between 3 to 5 days. For postage outside the United Kingdom, your Debit Card should arrive within 10 to 15 days. Should any technical error happen impacting the delivery time, My EU Pay will keep you informed by email.
Before using your My EU Pay Product(s) it is your responsibility to ensure that there are sufficient funds loaded on the card to cover your purchase. You will not be able to use your My EU Pay Product(s) after its expiry date.
Your My EU Pay Product(s) are not credit instruments.
To apply for a My EU Pay Product(s), you must be at least 18 years old. We will require evidence of identity and place of residence. We may ask you to provide some documentary evidence to prove this and/or we may carry out checks on you electronically. If you apply for or are issued with a Physical card you must sign the signature strip on the back of the card as soon as it is received.
My EU Pay Product(s) shall be issued in the following countries only:
By using My EU Pay Product(s), you are agreeing to these terms and conditions.
You can load your Debit Card by logging into your account profile at https://myeupay.net using the credentials sent to you via email following successful completion of the due diligence requirements. The amount you can load onto your Debit Card is up to a maximum amount as described in the Limits and Fees table in Section 13 below. We reserve the right to refuse to accept any particular loading transaction. Upon receipt and clearance, your funds will be available for use on your My EU Pay Product(s) without delay. For full details on limits, please refer to section 13.
We require that you activate your My EU Pay Product(s) upon receiving it. You do this by visiting https://myeupay.net and logging in. You will be able to manage your My EU Pay Product(s) from your payment account dashboard including getting balances and transaction history.
Detailed instructions on how to use your My EU Pay Product(s) are found on the Website. You will need to follow these instructions when using your My EU Pay Product(s). We will deduct the value of your transactions from the balance on your card as soon as they are made. We will also deduct any applicable fees as soon as they become payable by you; see our Limits and Fees section below for details of our fees.
For fraud prevention reasons, usage of your My EU Pay Product(s) may be queried by My EU Pay Limited who shall contact you and we may block further usage. Contact will me made using the registered phone number provided by you.
In such circumstances, you can simply contact our Customer Support Team, (via the email: email@example.com) to request to have your Products reinstated.
We may ask you to stop using your Physical Card and return it to us or destroy it. We may at any time suspend, restrict or cancel your My EU Pay Product(s) or refuse to issue or replace a My EU Pay Product(s) for reasons relating to the following:
If we do this, we will tell you as soon as we can or are permitted to do so after we have taken these steps. Like other payment methods, we cannot guarantee a retailer will accept your My EU Pay Product(s).
We may also refuse to pay a transaction:
If we refuse to authorise a transaction, we will, if practicable, tell you why immediately unless it would be unlawful for us to do so. You may correct any information we hold and which may have caused us to refuse a transaction by logging onto your account on https://myeupay.net.
Subject to the features of the My EU Pay Product(s) (which can be viewed at https://myeupay.com/faqs.html), the authorisation of a transaction can include authorising any single transaction, a series or recurring transactions (including transactions for an indefinite period) or pre-authorising future transactions of a certain or uncertain amount.
A My EU Pay Product(s) transaction will be regarded as authorised by you where you authorise the transaction by following the instructions provided by the merchant or retailer to authorise the transaction, which may include the following non exhaustive ways:
Authorisation for a transaction may not be withdrawn (or revoked) by you after the time it is received. However, the following transactions may be withdrawn if you give notice to the supplier (providing a copy of the notice to us):
We will pay the funds required by the retailer or merchant to cover the transactions authorised by you within three days of us receiving their request. A transaction instruction (the payment order) or request will be received as follows:
The transaction instruction or request will be deemed to have been received by us on the following business day in the following instances:
Your My EU Pay Product(s) will be valid for the period ending on the expiry date as indicated on the front of your Debit Card. On the expiry date, your Debit Card will cease to function and you will have no further right to use it. This Agreement will terminate when your Debit Card expires unless you request or are issued with a replacement.
You have a legal right to cancel your My EU Pay Product(s) up to 14 days after you purchase the My EU Pay Product(s) without being charged the Redemption Fee – this 14-day period is known as the “Cooling-Off Period” without any penalty but subject to deduction of any fees incurred by us only in relation to transaction you have made.
Notwithstanding the above, where paying in a currency outside your Debit Card currency, a foreign currency fee will be charged.
Under these terms and conditions, you also have the right to cancel your My EU Pay Product(s) at any time after the 14-day Cooling-Off Period without notice. You can do so by contacting our customer services by email at firstname.lastname@example.org or by phone calling our 24/7 customer support phone number: +44 (0)300 030 7777. On receipt of your instruction, we will debut any outstanding transaction and deduct any applicable fees. You can then redeem your unused available funds as specified in clause 11 of this Agreement.
If you cancel your My EU Pay Product(s), once all transactions and fees have been deducted, we will arrange for any unused funds to be refunded to you, see “Your Right to Redemption of Funds and Refunding of Transactions on Your My EU Pay Product(s)” section below for further information. A redemption fee may be charged (see Limits and Fees section below) unless you have arranged to transfer any unused funds to another My EU Pay Product(s) managed by us, or you cancel your My EU Pay Product(s) within 14 days of receiving it.
We may also cancel this Agreement for any reason by giving you at least two months’ notice:
We may also cancel the Agreement or suspend your My EU Pay Product(s) or account immediately if we believe your My EU Pay Product(s) are deliberately being used by you to commit fraud or for other illegal purposes. If we do this, we will tell you as soon as we are permitted to do so. If we cancel your My EU Pay Product(s), you must instruct us what to do with any unused funds within 3 months of the date we advise your My EU Pay Product(s) are cancelled. If your My EU Pay Product(s) are cancelled, we will immediately block your My EU Pay Product(s) so they cannot be used. You will not be entitled to a refund of money you have already spent on transactions authorised, or pending or any fees for use of the My EU Pay Product(s) before the My EU Pay Product(s) are cancelled or expire. You can cancel your My EU Pay Product(s) by contacting us and confirming that you have destroyed your Physical Card.
If you cancel your My EU Pay Product(s), once all transactions and fees have been deducted, we will arrange for any unused funds to be refunded to you, see "Your Right to a Refund" section below for further information. A Refund Fee may be charged (see Limits and Fees section below) unless you have arranged to transfer any unused funds to another My EU Pay Product managed by us, or you cancel your My EU Pay Product(s) within 14 days of receiving it.
Your My EU Pay Product(s) will be valid for 48 months from date of issue.
When we issue a replacement of a My EU Pay Product(s) we may charge a fee. Please see section 13 for a summary of Limits and Fees.
When you receive your Personal Identification Number (PIN), you must keep it safe and secure, you must keep it secret at all times. You should memorise the PIN, destroying the notification and never disclose the PIN or security information to anyone. If you suspect that someone else knows your PIN, you should change it as soon as possible. You can change your PIN to something more memorable at most ATMs (Physical card) by following the on-screen instructions.
We recommend that you check the balance on your My EU Pay Product(s) regularly online by logging into your account profile at https://myeupay.net. Instructions of how to access your balance can be found by following this link https://myeupay.com/cards.html. We will provide you upon request with your balance and a statement of recent transactions either by electronic means or on our secure webpage at any time. Your statement will show:
If a My EU Pay Product is lost or stolen, you may be liable for:
In the event of a lost or stolen My EU Pay Product(s) you can block it immediately via phone by calling our 24/7 customer support number at +44(0)300 030 7777. You may also contact us without undue delay to report the My EU Pay Product(s) is lost or stolen or if the PIN or password is known to an unauthorised person or if you think that a transaction has been incorrectly executed by using the website, or by contacting us directly on email@example.com.
We will refund any incorrectly executed transaction immediately unless we have any reason to believe that the incident has been caused by a breach of this Agreement, gross negligence or we have reasonable grounds to suspect fraudulent activity, however you may bear the loss, up to £35 or euro equivalent in total, if the transaction results from the use of a lost or stolen My EU Pay Product(s).
However, if the investigations show that any disputed transaction was authorised by you, or you have acted fraudulently or with gross negligence (for example by failing to keep your My EU Pay Product(s) or PIN secure), you will be liable for any loss we suffer because of the use of the My EU Pay Product(s).
We will not be liable for any loss arising from:
We are also not liable for:
You have the right to redeem the funds on your My EU Pay Card at any time in whole or in part, before the termination date (and thereafter only in full).
To do so, please logging into your account profile at https://myeupay.net and transfer the funds from your Debit Card to your MEP’s virtual account indicating the amount to be redeemed. If you wish to close your MEP virtual account, the balance available on your Debit Card will be transferred from your MEP’s virtual account to an account of your choice. When we process your redemption request, we may require you to provide us with documents such as identification so that we may process your request in accordance with legal requirements. We may also charge a redemption fee if one of the following circumstances applies:
We will not redeem the value of the funds on your My EU Pay Product(s) to you if your request for redemption of the funds is more than six years after the date of termination or expiry of this agreement.
Please see section 13 for a summary of Limits and Fees including redemption fees.
You may be entitled to claim a refund in relation to transactions where:
A claim for a refund in the circumstances set out above will not be accepted if the amount of the transaction was made available to you at least four weeks before the transaction date.
If you believe that a transaction has been incorrectly executed or was not authorised by you, you must inform us immediately by calling our 24/7 customer services phone number +44 (0)300 030 7777. Failure to notify us immediately on becoming aware or, in any event, within 13 months from the date of the unauthorised or incorrectly executed transaction will result in you losing your entitlement to have the matter corrected.
We will arrange an electronic transfer to a bank account nominated by you and held by you. However, to enable us to comply with our legal obligations, we may ask you to provide us with certain information before we can process your refund request.
We may change these terms at any time by notifying you by e-mail or other agreed means at least two months before the change is due to take effect. The up-to-date version of the My EU Pay Debit Mastercard programme Terms and Conditions will always be available on the Website. The change will automatically take effect and you will be taken to have accepted the notified change unless you tell us that you do not agree to the change. In that event, we will treat that notice as notification that you wish immediately to terminate. In such circumstances we will refund any balance on the My EU Pay card in accordance with section 10 above and you will not be charged a Refund Fee.
For transactions made outside of your Debit Card currency, we will charge a fixed currency conversion fee. Details of the fee for your product can be found in section 13. Limits and Fees. The rate used for conversion will be based on the Mastercard conversion rate applicable at the time the transaction is processed. Details of Mastercard conversion rates can be found at https://www.mastercard.co.uk/en-gb/personal/get-support/convert-currency.html. The way in which your transaction rate is calculated is the day when your transaction was authorised by you.
The exchange rate changes during the day and is not fixed by us and we are not responsible and cannot guarantee that you will receive a favourable exchange rate. Changes in exchange rates can occur immediately and without notice. You can compare the rate applied to your transaction with the rates published by the European Central Bank (“ECB”) using this link: https://www.ecb.europa.eu/stats/policy_and_exchange_rates/euro_reference_exchange_rates/html/index.en.html.
We do not charge any fees for checking your online balance and transactions. The table below shows any limits (where applicable) and fees:
|Card issue and activation||9.99||9.99|
|Pin Reminder (SMS)||1||1|
|Card cancellation / redemption||2.99||2.99|
|Balance enquiry (SMS)||1||1|
|Bank Transfer (My EU Pay account holders)||0.50%||0.50%|
|International Bank Deposit||5.00%||5.00%|
|Credit Card Deposit||2.90%||2.90%|
|UK Purchase Transaction||FREE||FREE|
|UK ATM Withdrawal||1.00%||1.00%|
|Overseas Purchase Transaction||FREE||FREE|
|Overseas ATM Withdrawal||2.90%||2.90%|
|Foreign Exchange Fees||EUR||GBP|
|Loads & Transfers||FDD||EDD|
|Maximum single load value||5,000.00||5,000.00||5,000.00||5,000.00|
|Maximum daily load value||5,000.00||5,000.00||5,000.00||5,000.00|
|Maximum weekly load value||10,000.00||10,000.00||10,000.00||10,000.00|
|Maximum monthly load value||15,000.00||15,000.00||15,000.00||15,000.00|
|Maximum annual load value||100,000.00||100,000.00||100,000.00||100,000.00|
|Maximum daily number||3.00||3.00||3.00||3.00|
|Maximum monthly number (30 days)||90.00||90.00||90.00||90.00|
|Maximum card-to-card transfer||800.00||800.00||800.00||800.00|
|Minimum single load value||75.00||75.00||75.00||75.00|
|Maximum single daily transaction value||1,000.00||1,000.00||1,000.00||1,000.00|
|Maximum daily value||2,000.00||2,000.00||2,000.00||2,000.00|
|Maximum daily number||No limit||No limit||No limit||No limit|
|Minimum single transaction value||0.00||0.00||0.00||0.00|
|Maximum cumulative spend over 4 days||5,000.00||5,000.00||5,000.00||5,000.00|
|Maximum daily value||750.00||750.00||750.00||750.00|
|Maximum daily number||3.00||3.00||3.00||3.00|
|Maximum monthly value||5,000.00||5,000.00||5,000.00||5,000.00|
|Maximum monthly number (30 days)||90.00||90.00||90.00||90.00|
|Maximum single ATM transaction value||750.00||750.00||750.00||750.00|
|Minimum single ATM transaction value||10.00||10.00||10.00||10.00|
|Maximum balance allowed||EUR||GBP|
|Card validity before upgrade- in months||48|
When you use your My EU Pay Physical Card at an ATM, you may also be subject to applicable fees, surcharge rules and regulations of the relevant ATM, or other financial institution or association. If we decide to increase or impose any new fees, we will notify you by at least one month before any changes take effect by posting the change to our website. Authorisation will be requested for all transactions at the time of each transaction. In the unlikely event, for any reason whatsoever, a transaction is completed when there are insufficient funds on the My EU Pay card for that transaction (a "Shortfall"), the Shortfall shall be reimbursed by you unless it is due to an error on the part of the retailer where the My EU Pay Product(s) was presented; in this circumstance we may seek the Shortfall from the retailer.
You agree that once we make this Shortfall known to you, you will repay the Shortfall amount. We may charge the amount of the shortfall from any other My EU Pay Product(s) or Payment Accounts that you hold with us, to any other payment method which you may designate at that time, or against any funds which you may subsequently load onto your My EU Pay card or on any additional My EU Pay Product(s) ordered by you. Until we are reimbursed the Shortfall amount, we may suspend your My EU Pay account and any My EU Pay Product(s) connected to you. In addition, we reserve the right to charge you an Administration Fee for each transaction that you make using your My EU Pay Product(s) that results in a Shortfall or increases the Shortfall amount on your My EU Pay card.
You must let us know as soon as possible if you change name, address, phone number or e-mail address. If we contact you in relation to your My EU Pay Product(s), for example, to notify you that we have cancelled your My EU Pay Product(s) or to send you a refund by cheque, we will use the most recent contact details you have provided to us. Any e-mail to you will be treated as being received as soon as it is sent by us. We will not be liable to you if your contact details have changed and you have not told us.
If you have any disputes about purchases made using your My EU Pay Product(s), you should settle these with the person you bought the goods or services from. We are not responsible for the quality, safety, legality or any other aspect of any goods or services purchased with your My EU Pay Product(s). Please note that once you have used your My EU Pay Product(s) to make a purchase we cannot stop that transaction.
If you have an enquiry relating to the My EU Pay Debit Mastercard programme or My EU Pay Product(s), you can email us at firstname.lastname@example.org. We will deal with your enquiry promptly. If your My EU Pay Product(s) has been lost or stolen, call us our 24/7 customer support number +44(0)3000307777. Calls are charged at your local call rate.
The My EU Pay Debit Mastercard programme is issued by IPS Solutions Ltd. If you are unhappy in any way with your My EU Pay Product(s) or the way it is managed, you can request a copy of our complaint policy by emailing us at email@example.com. Any complaints you have will be dealt with quickly and fairly. You may be able to take unresolved complaints to the Financial Ombudsman with Cyprus International Financial Services Association (CIFSA), 13 Lordou Vironos Avenue, 1906, Nicosia or P.O. Box 25735, 1311 Nicosia. Tel. +357 22848900. Fax +357660584 +357 22660118. http://www.financialombudsman.gov.cy/ email: firstname.lastname@example.org.
The My EU Pay Debit Mastercard Programme is an electronic money product and although it is a product regulated by the Central Bank of Cyprus , it is not covered by any Financial Services Compensation Scheme. No compensation scheme exists to cover losses claimed in connection with the My EU Pay Debit Mastercard Programme. This means that in the unlikely event that IPS Solutions Ltd becomes insolvent, your funds may become valueless and unusable and as a result you may lose your money.
We may assign the benefit and burden of these terms and conditions to another company at any time, on giving you two months’ prior notice of this. If we do this, your rights will not be affected.
We may transfer your unused balance to a new Debit Reloadable Product provided by a Debit Product issuer other than IPS Solutions Ltd at any time. Before we do this, we will give you two months’ notice of the new Debit Reloadable Product arrangements and the new Debit Reloadable Product terms and conditions. Unless you advise us within the two-month period that you do not want a new Debit Reloadable Product from the new Debit Reloadable Product issuer, you agree that we can automatically transfer the unused balance on your My EU Pay Debit Mastercard Programme to a new Debit Reloadable Product provided by the new Debit Reloadable Product issuer.
This Agreement is concluded in English and shall be governed and construed in accordance with the laws of England and Wales. All communications with you will be in English. In relation to any legal action or proceedings to enforce this Agreement we and you irrevocably submit to the exclusive jurisdiction of the English courts and waive any objection to proceedings in such courts.
As a responsible e-money issuer IPS Solutions Ltd ensures that once it has received your funds they are deposited in a secure account, specifically for the purpose of redeeming transactions made by your My EU Pay Product(s). In the event that IPS Solutions Ltd becomes insolvent funds that you have loaded which have arrived with and been deposited by IPS Solutions Ltd are protected against the claims made by creditors.
The My EU Pay Debit Mastercard programme is issued by PSI-Pay Ltd pursuant to a license by Mastercard ® International Incorporated.
The e-money associated with the cards are issued by IPS Solutions Ltd which is authorised and regulated by the Central Bank of Cyprus under the Electronic Money Law 2012 and registered under number HE346719.
The My EU Pay Debit Mastercard programme is operated by My EU Pay, 24 Martin Lane, London, EC4R 0DR, United Kingdom Company number 10661695.