MIR
Limited Corporate Card Terms and Conditions of Use
1.
The card
1.1 These terms and
conditions apply to any holder of this Corporate Expense card (‘the card’). By using your card, you are
demonstrating your agreement to these terms and conditions.
1.2 The
card is promoted by MIR Limited UK Ltd (MIR), Registered Office: 323
Davidson House, The Forbury, Reading, RG1 3 EU, England (co-brand partner) and
issued by PayrNet Limited , Registered
Office: 3rd Floor, Grainger Chambers, 3-5 Hood Street, Newcastle upon Tyne, NE1
6JQ. Registered in England No. 07875693. Authorised and regulated in the UK by
the Financial Conduct Authority to issue e-money (Firm Reference Number:
900051).
1.3 The card will be
provided in a stated currency. All references to that currency in these terms
and conditions are relevant to you.
1.4 The card is an
e-money product, and as such it is not covered by the Financial Services
Compensation Scheme (FSCS). In the unlikely event that MIR becomes insolvent,
your funds may become valueless and unusable, and as a result you may lose your
money.
1.5 These terms and
conditions are available online at uk.mirlimited.com
. You can request a copy of these terms and conditions at any point.
2.
Definitions
In these terms
and conditions, the following words and phrases have the meanings shown next to
them:
ATM – means automatic teller machine or cashpoint facility or cash
dispenser;
Business Day – means any day between and including Monday to Friday, between 9am
and 5pm (UK time) except for bank or public holidays in England and Wales;
Card – means your Valyuz Prepaid Corporate Expense Card (including
replacement card);
Card
Scheme – means Mastercard®;
Fees – a variety of charges that can be raised for purchase and ongoing use
of the card;
PIN – means Personal Identification Number i.e. the security number
provided for use with the card; Purse Value – means the maximum value of funds that can be held with the card
any one time; Supplier – a retailer, merchant or other supplier of goods and
/ or services which accepts payment by means of a card, card number, PIN or card
and signature;
Summary Box – The section that includes notification of charges, limits and
restrictions associated with the card;
Supplier’s Bank – the merchant acquirer used by the supplier for the purposes of
receiving payments arising from transactions;
Valyuz Prepaid Card – means a card with the features set out in these terms and
conditions Verification of Identity –
means confirming your personal identity and address by conducting electronic
verification of your details; or by you providing documentation of identity or
by your employer providing verification of your identity;
We / Us / Our – means MIRr co-brand partners
acting on our behalf;
Year – 12-months
period following the date when the card is issued
to you and each subsequent 12- months period;
You / Your – means the person/employee who has received the card and is
authorized to use the card as provided under the terms of this Agreement.
3.
Applying for your Valyuz Corporate Expense
Card
3.1 To apply for or
to use our Valyuz Corporate Expense Card, the
cardholder must be at least 18 years old and the corporate must be EEA
registered.
3.2 Your employer may
apply for the card on your behalf and we may ask to see the evidence your
employer holds to evidence who you are and where
you live. We may require documentary evidence
to prove this and/or we may carry out checks on you electronically. Such evidence may be provided on your behalf by your employer.
4.
Loading the card
4.1
Funds will be loaded to your Valyuz
Corporate Expense Card by your employer.
4.2 Funds cannot be
loaded by you or accepted from any other source than you employer.
4.3
We reserve the right to refuse
to accept any loading transaction.
4.4 Once we have
received a request from your employer, funds will be processed without delay
and will normally be available for use no later than 5 working days after
receipt of the request.
4.5 Your employer may
also load funds onto your Valyuz card in real time if
they have requested the facility to do this and we have approved this facility
for them.
4.6 The funds remain
the property of your employer and unspent funds can be recalled by your employer.
5.
Use of the card
5.1 The card is
provided to you for corporate expenditure use. Your employer may therefore
define the merchant type or
specific reasons when you may use the card for corporate expenditure.
5.2 The card is a prepaid
product which can be used to pay for goods and services at retailers where
Mastercard Prepaid Cards are
accepted. To use the card, present it at the time of payment. Use it in full or part payment of your
purchase in which
case you will be required
to pay the outstanding amount of the purchase by an alternative
means, for example, cash or debit or credit card providing the retailer accepts
a combination of payment methods.
5.3 When you receive
your card, you must activate it in your app and input the personal information
unless your other card has been lost or stolen and you have reported the loss
or theft to us.
5.4 You must not make purchases that exceed the balance of funds available
on the card. Your balance will be reduced by the amount of
each purchase you make. If any purchase takes you over your available funds or
the card limits in force the transaction will be declined.
5.5 You can use the
card to make purchases in-store, via the internet or over the phone. The card
can be used to obtain cash through ATMs. There is no cash back facility. This
is not a debit card supported by a bank account and is not in any way connected
to a bank account. It is also not a guarantee card, charge card or credit card.
Interest will not be earned on any funds loaded on to the card.
You must not use the card for:
5.5.1
pre-authorized regular payments;
5.5.2
transactions for cash (other than ATM withdrawal) including
for example cash back, cash from a bank, money orders, traveler’s cheques,
foreign exchange, or bureau de change, or
5.5.3
any illegal purposes.
5.6 Your card cannot
be used in situations where it is not possible for the supplier to obtain
online authorization that you have sufficient balance for the transaction. For
example: transactions on trains, ships, and some in-flight purchases.
5.7
We may stop, suspend or
restrict your card or PIN on reasonable grounds relating to:
5.7.1
the security of your card, card number or PIN, and
5.7.2
the suspected unauthorized or fraudulent use of your
card or PIN. We will, if possible,
inform you before stopping, suspending or restricting your card or PIN that we
intend to do so and the reasons for doing this. If we are unable to do so then we will inform
you immediately afterwards. The requirement to inform you
does not apply where it would compromise reasonable security measures, or it
would be unlawful to do so.
5.8 We are not responsible for the quality,
safety, legality, or any other aspect of any goods or services purchased with the card. We are not liable for the failure of any
merchant to honour the card.
5.9 We will not issue the main card under these terms and conditions to anyone
under the age of 18 years old.
6.
Transactions
6.1 You agree
that any use of your card, card number or PIN constitutes your authorization and consent
to a transaction.
6.2 The time of receipt
of a transaction order is when it is received by us. If a transaction order is
received after 3pm on a business day, then it will be deemed to have been
received on the next business day. If receipt does not fall on a business day, then it will be deemed to have been received
on the next business day.
6.3 You cannot stop a
transaction after it has been transmitted to us by giving your consent to the
transaction, or once you have given your consent to the supplier for a
pre-authorized payment.
6.4 We may refuse a transaction or suspend or terminate the right to top up your card. We may do this
if the relevant phone or computer link is busy. We may also do this if:
6.4.1
a transaction might take you over your available
funds on the card; or
6.4.2
a transaction might take you over any of your card
limits; or
6.4.3
we reasonably believe that we need to do so to keep
to the rules of the payment system under which your card is issued, or
6.4.4
we reasonably believe that it is necessary to do so
to comply with any law or as a matter of good practice.
7.
Foreign currency transactions
7.1 The card can be
used for transactions which are not in the currency of the card although a fee
will be applied for doing so.
7.2 If you make a transaction
in a currency other than the currency of the card, we will change the amount
into the currency of the card at the wholesale market rate or any rate that a
government may set. We will charge a
service charge (commission), see Summary Box.
7.3 Exchange rates
may change, and the exchange rate which applies on the date that you make your
transaction may not be the same as the exchange rate we use on the date that we
convert the transaction charge and deduct the service charge from your balance.
The exchange rate applied will include this service charge. You can check the
exchange rate used as described in condition
7.
Your online statement will show the exchange rate
and service charge.
8.
Checking your balance
8.1
To check the available balance
on your card or to review your transactions you can use your app or
contact your admin person of the corporate.
9.
When your card expires
9.1
The card’s expiry date is printed on the card. You
must not use the card after its expiry date and you will
not be able to reload it.
9.2
If you have used your card in the period of two
weeks before its expiry date, we will send you an email to inform you that we
will automatically transfer the outstanding balance to a new card. The new card
will be issued to you free of charge and sent to you at the address you have
given us under condition 15.3 within two weeks of the expiry date. Tell us if you do not want your card to be
renewed. To do this contact us through your app or to valyuzcards@mirlimited.com
9.3
If your card has not been used in the eight weeks
prior to its expiry date, you will be sent an email asking if you want to
replace that card and keep any existing balance on it. If you request that we
do this, you will be issued with a replacement card within two weeks. A
replacement card fee may apply (see Summary Box).
9.4
If you renew your card in circumstances under
conditions 9.2 or 9.3 this agreement will continue to apply.
9.5 If you or your
employer request that your card is not renewed under
condition 9.2 and 9.3 or do not request a replacement under condition
9.4, you will not be able to use it after its expiry date. Your employer can redeem
any outstanding balance on the card up to 6 years after the expiry date by following the process in
condition 10. If any balance remains on
the card for more than 6 years after the expiry date, it will not be refunded.
10.
Redemption
10.1
Your
employer can redeem all or part of your balance
by contacting us on valyuzcards@mirlimited.com up until the date that is 6
years after the expiry date shown on your card.
10.2
A fee will be charged
(see Summary Box) to cover redemption costs on each occasion that your
employer redeems funds if the redemption is of all or part of the balance at
the following times:
10.2.1
where redemption is requested before termination of
the contract;
10.2.2
where the e-money holder terminates the contract
before any agreement termination date; or
10.2.3
where redemption is requested more than one year
after the date of the termination of the contract.
10.3
Your employer will be reminded of this fee before
redemption. Please note that if the balance is equal to or less than the amount
your employer wants to redeem in the circumstances listed above, the fee will
equal your balance which will be reduced to zero.
10.4
A fee will not be charged for redemption if:
10.4.1
we terminate this agreement, or
10.4.2
if the request for redemption is at termination of
the contract or up to one year after that date.
11.
Liability
11.1
You must sign your card as soon as you receive it and keep it safe.
You must always
make sure that you:
11.1.1
do not allow anyone else to use your card;
11.1.2
do not reveal your PIN and
never write down your password(s), PIN or any security information you have given us unless
you do this in a way that would make it impossible for anyone else to
recognize any of that information;
11.1.3
only release the card, card number or PIN to make
(or try to make) a transaction, and
11.2
If your card is lost or stolen or someone else finds
out the PIN or if you think your card, card number or PIN may be misused, you must:
11.2.1
Freeze your card in your Vzlyuz app and contact us on valyuzcards@mirlimited.com (we have a 24-hours service) so that we can stop your card and PIN;
11.2.2
if we ask, write to us within seven days to confirm
the loss, theft or possible
misuse (the address is valyuzcards@mirlimited.com), and
11.2.3
stop using the card, card number or PIN immediately. If you find the card after you have reported it lost, stolen or misused, you
must cut it up and tell us as soon as you can.
11.3
If your card or any replacement card, is lost or stolen,
once you have reported it you can request
a replacement by contacting valyuzcards@mirlimited.com.
We will charge a fee for the replacement card. This is
set out in the Summary Box.
11.4
You may not be liable for any use of the card, card number or PIN by another
person who does not have your permission to use it
or if it is lost, stolen or destroyed, unless:
11.4.1
you agreed to that person
having your card,
card number or PIN, or through your negligence or carelessness, failed to comply with
condition 11.1, in which case you may be liable for any use that occurs before
you tell us in accordance with these terms and conditions, or
11.4.2
you acted fraudulently then, to the extent permitted
by law, you may be liable for misuse of the card, card number or PIN.
11.4.3
you may only be liable to a maximum of £35 resulting
from transactions arising from the use of a lost or stolen card or from the
misappropriation of the payment instrument where the cardholder has failed to
keep security features of the card safe. The £35 liability limit is applicable
to each instance of loss, theft or misappropriation and not each transaction.
11.5
If your card is used without your permission, or is
lost, stolen or if you think the card may be misused, we may disclose to law
enforcement agencies, any information which we reasonably believe may be relevant.
11.6
We will not be liable for:
11.6.1
any abnormal or unforeseeable circumstances outside
our reasonable control (for example, a failure of computer systems which
happens for reasons outside our reasonable control or any industrial action
which happens for reasons outside our reasonable control) if this prevents us
from providing the usual service;
11.6.2
any person refusing to accept or honor (or delays in
accepting or honoring) your card, card number or PIN, or
11.6.3
any cash dispenser failing to issue cash. We will not be liable for the way in which
you are told about any refusal or delay.
11.7
In case of errors or disputes about transactions,
contact us on valyuzcards@mirlimited.com.
12.
Altering these terms and conditions
12.1
We may change any of these
terms and conditions, including fees and charges, or introduce new terms. If we
make any changes, we will give 2 months prior written notice to you and your
employer by email.
12.2
If we change these terms and conditions, the new
terms and conditions will be available at www.mirlimited.com
from the date the change takes place.
12.3
You will be deemed to have accepted any change to
these terms and conditions unless you notify us of any objection before the
proposed date of the change.
12.4
Between receipt of the notice and the proposed date
of change, if you notify us that you do not accept the change, this agreement
will terminate immediately and subject to condition 10.4.2 your employer can
redeem the total balance at that time without
charge.
13.
Cancellation rights
13.1
If you change
your mind about having the card, you can cancel it within
14 days of the date you
receive confirmation of your application being approved by contacting us on valyuzcards@mirlimited.com. You will not be charged for
canceling the card during this period. We will
refund any balance remaining on the card to your employer and any fees that
your employer has paid.
13.2
We will reimburse your employer
in the currency the same as that of your pre-paid card
14. Ending this agreement
14.1
We may terminate this agreement at any time. Unless there
are exceptional circumstances, we will give you 2 months’ prior written notice.
14.2
You can terminate this agreement by contacting us on
valyuzcards@mirlimited.com. subject to
conditions 12.4 and 13
14.3
If your employer does not redeem the full balance
within 6 years of your contract’s expiry date, this agreement terminates.
14.4
We shall retain documents relevant to your use of a
card for 6 years
15.
General
15.1
By entering into this agreement, you agree that we may use your information in accordance with the
‘How we use your information’ section of these terms and conditions, as set out in condition 18.
15.2
We may monitor and/or record
telephone calls between you and us or service
providers.
15.3
You must provide us with an email and postal address
and phone number and let us know of any changes.
15.4
We may
need to contact you urgently if we suspect or find fraudulent activity has
occurred on your account (provided we are not prohibited from doing so by law)
or if we suffer a security threat. To do so, we may (for example) send you a
text message instead of calling or emailing you, if we think this is the
quickest way to contact you. When we contact you, we will also give you
information on how you can minimize any risk to your payment instrument
depending on the nature of the security threat. We will use the same contact
details you have already provided us with when contacting you. You must inform
us immediately if your personal details or contact information change.
15.5
We may transfer our rights
or obligations under this agreement or arrange for any other person to carry
out its rights or obligations under this agreement. You may not transfer any of
your rights or obligations under this agreement.
15.6
We can delay enforcing rights
under this agreement without losing them.
15.7
If we cannot enforce any paragraph, condition or
part of a paragraph or condition under this agreement, it will not affect any of the other paragraphs, conditions or the other part of the paragraph
or condition in this agreement.
15.8
We may amend this agreement on 60 days’ notice to
you.
15.9
This agreement is governed by the law of England
and Wales. The language of this agreement is English, and all notices and
information given under this agreement will be in English. Payment services information
15.10
This condition 16 only applies if the supplier’s
bank is located within the European Economic Area (EEA) and the payment services
being carried out are transacted in Euro, or another currency of an EEA member state.
15.11
We will ensure that a
transaction you make is credited to the supplier’s bank, or that returned funds
following redemption or cancellation are credited to your bank within these timescales:
|
Type
of Transaction
|
Timescale
|
|
Transaction carried out in
a currency other than Euro (€) or Pounds Sterling (£)
Or
Transaction involving more than one currency
|
By the end of the
fourth business day following the day on which the transaction or order is
received.
|
|
Any other Transaction
|
By the end of the business
day following the day on which the transaction order is received.
|
15.12
If you use your card or provide your card details to
a supplier to make a transaction before you know the amount which is going to
be charged to your card, then you may be entitled to request a refund if the
amount is unexpectedly large, provided that you inform valyuzcards@mirlimited.com within eight
weeks from the date the transaction is deducted from your balance
but you will NOT be entitled to a refund if you have been told
by us, or the supplier, of the amount of that transaction at least four weeks before
the transaction is due to be deducted
from your balance,
and you consented to the transaction.
15.13
On receipt of such a request under clause 16.3, we
may require you to provide us with the information to ascertain whether the
conditions in clause 16.3 have been met. Within 10 business days of receiving a request from you under condition 16.3 or of receiving any additional information required under this
paragraph, we will provide a refund or justify why we are refusing the request.
15.14
We are liable for the correct
execution of the transaction unless we can prove that the transaction was
received by the supplier’s bank, in which case the supplier’s bank is liable to
the supplier. You may request that we make immediate efforts to trace an
incorrectly executed transaction and notify you of the outcome.
15.15
When a supplier initiates a transaction, it is the
supplier’s bank which is liable for the correct transmission of the relevant
details to us. If the supplier’s bank can prove that it is not responsible for
a transaction which has failed or has been incorrectly executed, we will be
responsible to you.
15.16
If we are responsible for an incorrect amount of a transaction being
deducted from your balance,
we will correct the error. If we are responsible for a transaction being
deducted from your balance which you did not authorize, we will refund the
amount of the transaction to your balance and treat the transaction as if it
had never occurred. You must inform us of an unauthorized or incorrect
transaction as soon as possible
and in any event no later than 13 months after the debit date.
If you do not do so, we may
not be liable.
15.17
We are not liable if you
incorrectly identify the supplier under a transaction. In such a case, we will
make reasonable efforts to recover the funds
involved
16.
Complaints and how to contact us
16.1
If you would like to make a complaint or contact us
for any other reason connected to these terms and conditions please write to valyuzcards@mirlimited.com. We have procedures in place to make sure that we handle your
complaint fairly and quickly. However, if you are not satisfied with the
outcome of your complaint, you can write to the Financial Ombudsman Service at
Exchange Tower, London, E14 9SR.
16.2
We
will try to resolve any complaints you have about your payment instrument or
the service we provide to you within 15 business days of receiving your
complaint and in exceptional circumstances, within 35 business days (and we
will let you know if this is the case).
17.
How we use your information
17.1
We will search your record at
credit reference and fraud prevention agencies. These searches are to check your identity and we do not carry out
full credit reference checks or credit scoring for this purpose. We may use an automated decision-making system
to assess your application and verify your identity.
17.1.1
If we are unable to verify your identity adequately,
we may ask you to provide some documentary evidence to help confirm your
identity and address.
17.2
Credit reference agencies may check the details you
supply against any particulars on any database
(public or otherwise) to which they have access.
An unrecorded enquiry
will be made.
An unrecorded enquiry is a search that was not made for lending
purposes. It cannot affect your credit rating or score when you apply for
credit. It is not seen by lenders other than the one that carried out the
search. It is included on your credit report, so you know the search was made
but does not affect your credit rating, or score, when you apply for credit.
17.3
If you give us false or inaccurate information and we identify fraud,
we may record this with fraud
prevention agencies. Law enforcement agencies may access and use this information.
17.3.1
The fraud prevention agencies will share records
with other organizations. We and
other organizations may access and use the information recorded by fraud
prevention agencies overseas.
17.3.2
Please contact us on valyuzcards@mirlimited.com if you would like details of those credit
reference and fraud prevention agencies. You have a legal right to these details.
17.3.3
You have certain rights to receive a copy of any
information we hold about you. Please write to: valyuzcards@mirlimited.com. We may charge you for this service.
17.4
Some information held by credit reference and fraud prevention agencies will be disclosed to us
and other organizations to, for example:
17.4.1
to prevent fraud and money laundering, by checking
applications for credit, credit-related or other facilities, proposals and
claims for all types of insurance, job applications and employee records, and
to verify your identity.
18.4.2. The information held by these agencies may also be used for other purposes
for which you give your specific permission or, in very
limited circumstances, when required by law or where permitted under the terms
of the Data Protection Act 1998.
17.5
When you have an agreement with us, we may use the following
types of information about you:
17.5.1
information you give us, or we already hold about you, including any phone number
you call us from, which we may record;
17.5.2
information we receive when making a decision about
your application or agreement, including information we receive from enquiries
and searches made in your name with
credit reference and fraud prevention agencies;
17.5.3
information (including details of payments and
transactions) we may hold about any managed account or policy which you hold
with or through us, and
17.5.4
information we receive from anyone who can provide
us with information about you.
17.6
We will process, use, manage,
control, release and record information about you to:
18.6.1.1 search
credit reference and fraud prevention agencies’ records (including information
from overseas) to manage your account;
18.6.2
manage your accounts and policies, and manage any
application, agreement or correspondence you may have with us;
18.6.3
carry out, monitor and analyses our business;
18.6.4
contact you by post, by phone or in another way
about other products and services which we consider may interest you – unless
you tell us that you prefer not to receive direct marketing;
18.6.5
fight fraud, money-laundering, terrorism and other
crimes, and
18.6.6
keep to any laws or regulations in any country
17.7
We may reveal information about you:
17.7.1
to any person working for us or our co-brand partners;
17.7.2
to fraud prevention
agencies;
17.7.3
to any organization which backs any of our products
which you hold;
17.7.4
to any payment system under which we issue your card;
17.7.5
if a payment is processed through a worldwide payment
system, to certain authorities in order to detect and prevent terrorism
(including authorities outside the UK);
17.7.6
to any person to whom we transfer any of our rights
or obligations under any agreement we may have with you, and
17.7.7
to anyone you authorize us to give information about
you to.
17.8
Processing your information, as described above, may
involve sending it to other countries outside of the EEA including the United
States of America. In such circumstances we are responsible for making sure
that your information continues to be protected.
17.9
We will keep information about
you for only as long as we need to or is required to meet legal obligations.
18.
SUMMARY BOX
Charges
This table summarizes
key product features and information and is not intended to replace the terms
and conditions of the product. The fees’ limits and restrictions that apply to
each card are set out below.
The fee
structure for your card depends on whether you have purchased a ‘Sterling card’
‘Euro card’ or ‘US Dollar card’.
|
Fees and limits
|
Sterling
|
Euro Card
|
US Dollar Card
|
|
|
|
|
|
|
Card limits
|
1,000,000
|
1,000,000
|
1,000,000
|
|
Maximum balance at any time
|
1,000,000
|
1,000,000
|
1,000,000
|
|
Maximum monthly load
|
500,000
|
500,000
|
500,000
|
|
Maximum annual load
|
1,000,000
|
1,000,000
|
1,000,000
|
