BulPay Terms & Conditions
About our Terms
This Account and Cardholder Agreement (“Agreement”) is made up of four Sections:
Section 1 – The terms and conditions governing the BulPay Account which are between you and Modulr FS Europe Limited.
Section 2 – The terms and conditions governing the BulPay Prepaid Mastercard which are between you and Transact Payments Malta Limited. You have entered into these terms and conditions if you are resident in the European Economic Area
Section 3 – The terms and conditions governing the BulPay Prepaid Mastercard which are between you and Transact Payments Limited.You have entered into these terms and conditions if you are resident in the United Kingdom.
Section 4 – The Fees and Limits Schedule
Section 1
Account Terms & Conditions
The BulPay Account Terms and Conditions; Important information you need to know
The BulPay Account Terms and Conditions
Please read these Terms and Conditions carefully before you agree to use an Account or any related services provided by or through us.
These Terms and Conditions, together with the Introduced Client Terms of Business and the Introduced Client Application Form constitute the entire agreement between Modulr, BulPay and you.
By signing the BulPay Account Terms and Conditions you accept the terms of the Agreement, or by agreeing to open an Account and/or using our services, you accept these Terms and Conditions. If there is anything you do not understand, please contact Customer Services using the contact details in the Introduced Client Application Form.
1. DEFINITIONS
Account - The electronic money account, also known as BulPay Account provided by us in accordance with these Terms and Conditions.
Account Information Service Provider – means a third party payment service provider who is authorised by or registered with the Central Bank of Ireland or another European regulator to provide online account information services, who, with your permission will be able to access certain online account information on one or more payment accounts held by you to give you a consolidated view of your payment accounts.
Account Limits – any limit that applies in relation to your Account and/or Card, such as account maximum balance, and limits on receiving and sending payments from your Account as referred in paragraph 2.
Account Manager - The individuals elected by the Account Owner to be responsible for the management of the Account, also known as an “Authorised User”.
Account Owner – The entity legally responsible for an Account.
Agreement - The agreement for your Account made up of these Terms and Conditions, together with the Introduced Client Terms of Business and the Introduced Client Application Form, which constitute the entire agreement between you, BulPay and Modulr.
Application Programming Interface (API) – means the interfaces provided by BulPay to the Introduced Client (and the Partner Platform on the Introduced Client’s behalf) to directly instruct BulPay Accounts via the Introduced Client’s or the Partner Platform’s own application.
AML Policy - BulPay’s written policy on anti-money laundering and counter terrorist financing as may be amended from time to time by BulPay.
Applicant – A customer of the Partner Platform who applies for BulPay Products but is yet to be accepted by BulPay as an Introduced Client.
Available Balance - The value of funds available on your Account.
Bacs Credit – Means Bacs Direct Credit. A service enabling organisations to make payments to an account which takes 3 Business Days for the funds to be cleared.
Business Days - Monday to Friday between the hours of 9am-5pm but does not include bank holidays, or public holidays in the Republic of Ireland.
Commencement Date – the date set out in the Introduced Client Application Form.
Confidential Information - any information (whether or not recorded in documentary form, or stored on any magnetic or optical disk or memory) relating to: the business, products, affairs, strategy, contracts, customer relationships, commercial pipelines, business contacts, prospective customers, existing customers, business models, customer pricing, management systems, business methods, corporate plans, maturing new business opportunities, research and development projects, marketing and sales information, sales targets and statistics, discount structures, suppliers and potential suppliers, source codes, computer programs inventions, know-how, technical specifications and other technical information relating to products and services.
Customer Services - The contact centre for dealing with queries about your Account. Contact details for Customer Services can be found in the Introduced Client Application Form.
Data Protection Laws – means all laws relating to the processing of Personal Data, privacy and security, including, without limitation, the EU Data Protection Directive 95/46/EC, the Data Protection Acts, 1988 to 2018 (as may be amended from time to time), the European Communities (Electronic Communications Networks and Services) (Privacy and Electronic Communications) Regulations 2011 (S.I. No 336 of 2011) and the General Data Protection Regulations (EU) 2016/679 ("GDPR") together with equivalent legislation of any other applicable jurisdiction, delegated legislation of other national data protection legislation, and all other applicable law, regulations and approved codes of conduct, certifications, seals or marks in any relevant jurisdiction relating to the processing of personal data including the opinions, guidance, advice, directions, orders and codes of practice issued or approved by a supervisory authority or the European Data Protection Board;
Due Diligence Procedure - BulPay’s procedures for carrying out due diligence on Introduced Clients in order to comply with its policies and regulatory obligations.
Faster Payment - A service allowing you to make and receive electronic GBP payments in the which is received by the recipient bank within 2 hours provided that the receiving organisation or bank is part of Faster Payments Scheme.
Fees – those fees payable by the Introduced Client and set out in the Introduced Client Application Form.
Information – Means any information related to the organisation, and any personal information related to Account Manager or the Cardholder.
Intellectual Property Rights – means without limitation all patents (including models and inventions), trademarks, service marks, trade names, internet designations including domain names, business names, copyrights, design rights, database rights, rights to or in computer software, know-how, trade secrets, rights to or in confidential information and all other intellectual property rights and rights or forms of protection of a similar nature or effect which may subsist anywhere in the world whether or not registered or capable of registration, together with all applications for registration of, and any licence to use, any of the foregoing and "Intellectual Property" shall be construed accordingly;
Introduced Client Application Form – The application form identifying the parties, BulPay Products to be provided and commercial terms that forms part of the Agreement between an Introduced Client and BulPay.
Introduced Client – Any client of BulPay which has been introduced by the Partner Platform and whose account is operated by the Partner Platform based on instructions the Partner Platform receives from the Introduced Client (where relevant).
Introduced Client Terms of Business - The terms on which BulPay provides BulPay Products to the Introduced Client.
BulPay Account Terms and Conditions - This agreement, between Modulr and the Introduced Client which governs the terms on which the Introduced Client may use its Account.
BulPay Products – those products, including but not limited to the Account referred to in the Introduced Client Application Form.
One-Time Passcode – means the six-digit passcode sent to your mobile phone number by us, via SMS.
Online Portal – means the interface provided by BulPay for the Introduced Client to access via the public internet, subject to applicable based on the Introduced Client’s relationship with the Partner Platform and can be used for the management of accounts.
Payment Initiation Service Provider – means a third party payment service provider authorised by or registered with by the Central Bank of Ireland or another European regulator to provide an online service to initiate a Transaction at your request on your Account.
Partner Platform – A third party that is permitted by BulPay to introduce and act on behalf of Introduced Clients, and permitted by you to act as an Authorised User.
Partner Platform Agreement - an agreement between the Introduced Client and the Partner Platform for the provision of various services, under the terms of which the Introduced Client wishes to open an Account with BulPay to be used for the purpose and in accordance with the terms set out in the Partner Platform Agreement.
Regulator – the Central Bank of Ireland, located at New Wapping Street, North Wall Quay, Dublin 1, D01 F7X3 or any authority, body or person having, or who has had, responsibility for the supervision or regulation of any regulated activities or other financial services in the Republic of Ireland.
SEPA – Single Euro Payments Area scheme, which allows payments to be made in euros within the EEA.
SEPA Instant Payments - electronic retail payment solutions available 24/7/365 and resulting in the immediate or close-to-immediate interbank clearing of the transaction and crediting of the payee's account with confirmation to the payer (within seconds of payment initiation).
SEPA Credit Transfer (SEPA SCT) - a non-urgent euro payment debiting a euro account and crediting another euro account in the SEPA zone.
Transaction – any debit, credit or other adjustment to an Account that affects the balance of monies held in it, including a Card Transaction.
TPP (Third Party Provider) – means an Account Information Service Provider or a Payment Initiation Service Provider.
we, us,our or Modulr – Modulr FS Europe Limited (trading as ‘Modulr’), a company registered in Ireland with company number 638002
Website – means the customer portal that Introduced Clients can login to in order to use the BulPay Products.
you, your - The Account Owner, also referred to as an Introduced Client.
2. ACCOUNT LIMITS
2.1 Limits may apply to the balance on your Account at any time, the maximum value of an individual payment Transaction, the maximum aggregate value of all payment Transactions made from your Account in a particular time period e.g. during any one Business Day and the maximum number of payment Transactions made from your Account over a particular time frame.
2.2 The limits and restrictions that apply to your Account will be communicated to you during the Account set-up process and/or before the Card is issued to you (as applicable). These limits may also change over time based on your Account; any such change will be communicated to you. You can check the limits at any time by contacting Customer Services. You should not make a payment Transaction request which exceeds such.
2.3 To manage our risk, particularly with respect to money laundering, fraud or security concerns, we also apply internal controls, including limits, to certain types of payment. We change these as necessary but for security purposes, we do not disclose them.
3. SCOPE OF THESE TERMS AND CONDITIONS
3.1 Your Account is an electronic money account (and therefore is not a traditional bank account) and the electronic money is issued to you by us. We are regulated by the Central Bank of Ireland for the issuance of electronic money. Your rights and obligations relating to the use of this Account are subject to these Terms and Conditions between you and us.
3.2 The types of Transactions enabled for your Account are set out in the Introduced Client Application Form or as subsequently enabled by us. The terms of these BulPay Account Terms and Conditions applicable to specific Transactions or payment types (for example, Cards) apply only to the extent that such Transactions or payment types are enabled for your Account.
3.3 This Agreement is written and available only in English and we undertake to communicate with you in English regarding any aspect of your Account.
3.4 You agree that we or the Partner Platform may communicate with you by e-mail or telephone for issuing any notices or information about your Account and therefore it is important that you ensure you keep your e-mail address and mobile phone number updated.
3.5 You can request a copy of these Terms and Conditions at any time by contacting Customer Services.
3.6. By accepting these Terms and Conditions, you acknowledge that the Irish Deposit Guarantee Scheme or other government sponsored insurance does not apply to funds held in the Account.
4. OPENING YOUR ACCOUNT
4.1 Your Account will be opened on your behalf by the Partner Platform. You may only hold an Account so long as you remain an approved client of the Partner Platform that provided you with your account details.
5. USING THE ACCOUNT
5.1 Your Account can receive bank transfers and other payment types as added and notified to you by BulPay from time to time. Subject to paragraph 5.3, we will credit your Account when we receive the funds which could be up to three Business Days after the payment being instructed, depending on how the payment was sent.
5.2 Your Account can also receive internal transfers from other BulPay Accounts owned or controlled by the Partner Platform, which apply instantly.
5.3 An incoming payment will not be credited to your Account if:
5.3.1 the Account has reached the Account Maximum Balance or Account Limits; or
5.3.2 the Account is inactive or blocked or terminated; or
5.3.3 the sender has provided incorrect/invalid Account Details for your Account; or
5.3.4 We suspect the payment to be fraudulent.
5.4 If we are unable to credit your Account for any of the reasons in paragraph 5.3 then the funds may be sent back to the sender without a prior notification to you.
5.5 Your Account will be configured and operated by the Partner Platform. You agree that BulPay and we may take instructions from the Partner Platform regarding the operation of your Account, including the creation of beneficiaries and instruction of payments, on your behalf. We and BulPay have no liability for actions taken by the Partner Platform. If you disagree with any actions taken by the Partner Platform these should be discussed with the Partner Platform. We are also authorised to take instructions from any other Account Manager (where different from Partner Platform) and, with respect to Physical Card Transactions, from the Cardholder. You are responsible for all actions of the Account Manager and any Cardholder in relation to the Account and/or Card(s).
5.6 Your Account can make payments out to external bank accounts via SEPA, Faster Payments and other methods as added and notified to you by the Partner Platform from time to time.
6. THIRD PARTY ACCESS
6.1 You can instruct a TPP to access information on your Account or initiate certain Transactions from your Account provided such TPP has identified itself to us and it has acted in accordance with the relevant regulatory requirements. We will treat any instruction from an TPP as if it was from you or an Account Manager.
6.2 We may deny TPP access to your Account if we are concerned about unauthorised or fraudulent access by that TPP. setting out the reason for such denial. Before doing so, we will tell you that we intend to deny access and give our reasons for doing so, unless it is not reasonably practicable, in which case we will immediately inform you afterwards. In either case, we will tell you in the manner in which we consider most appropriate in the circumstances. We will not tell you if doing so would compromise our security measures or would otherwise be unlawful.
6.3 If you have provided consent to a TPP to access the data in your Account to enable them to provide account information services to you or initiate Transactions on your behalf, you consent to us sharing your information with the TPP as is reasonably required for them to provide their services to you. You must let us know if you withdraw this permission and we recommend you let the TPP know. On notification from you, we will not provide such TPP access to your Account or the data in it.
7. CLOSING YOUR ACCOUNT
7.1 You may close your Account by contacting Customer Services. Please refer to your contract with the Partner Platform for any terms relating to your need to maintain your Account.
7.2 The Account will be closed if the Partner Platform instructs us to close your Account (in which case the Partner Platform will inform you of this instruction).
7.3 On termination of the Agreement for any reason, these Terms and Conditions will automatically terminate, and your Account will be closed.
7.4 Any Available Balance remaining on the Account after Account closure will be transferred to your nominated bank account via SEPA based on instructions to us from the Partner Platform. If for any reason this is not possible, such Available Balance will remain yours and you may at any time request a refund by contacting Customer Services. You will not have any access to your Account from the date of Account closure and this Agreement will terminate.
8. YOUR LIABILITY AND AUTHORISATIONS
8.1 You are responsible for understanding and complying with the Agreement including these Terms and Conditions.
8.2 We may at any time suspend, restrict or refuse to authorise any use of your Account, or refuse to process your instructions or authorise any particular Transaction where:
8.2.1 we are concerned about the security of or access to your Account;
8.2.2 we know or suspect that that your Account is being used in an unauthorised or fraudulent manner;
8.2.3 we need to do so in order to comply with the law or otherwise for regulatory or crime prevention purposes;
8.2.4the Transaction would breach the limits applicable to your Account;
8.2.5 you, the Account Manager breach an important part of these Terms and Conditions, or repeatedly breach any term in this Agreement and fail to resolve the matter in a timely manner.
8.3 If we cancel, suspend or restrict your Account, or otherwise refuse to execute a payment order to or to initiate a Transaction, we will, without undue delay and provided we are legally permitted to do so, notify you or the Partner Platform of the refusal, suspension or cancellation (as applicable). If possible, we will provide the reasons for the refusal to execute the Transaction and/or suspending the use of your Account and where those reasons relate to factual matters, the procedure of rectifying any factual errors that led to the refusal.
8.4 You, the Account Manager must not:
8.4.1 allow another person to use security information related to the Account,
8.4.2 write down password(s) or any security information unless this is done in a way that would make it impossible for anyone else to recognise any of that information, or
8.4.3 disclose passwords or any security information, or otherwise make them available to any other person, whether verbally or by entering them in a way that allows them to be observed by others.
8.5 You must take all reasonable steps to keep your Account and password(s) and any other security-related details safe at all times. If you visit a website or receive a message that asks for your password, other than the BulPay website, this should be reported to us. If you are in doubt whether a website is genuine, you should contact Customer Services. If you have any indication that your Account, password or other security information has been compromised, you must immediately change your password and notify us as soon as possible.
8.6 In the event that a Transaction was not authorised by you, your Account Manager or by a TPP on your behalf, we will refund the amount of the Transaction to the you immediately and in any event not later than the end of the Business Day immediately following notification of the unauthorised Transaction and your maximum liability in respect of the Transaction will be €50.
8.6.1 8.6 will not apply and you will bear all losses and liability for:
8.6.2 all Transactions that take place as a result of you or the Account Manager acting fraudulently or failing to comply with these Terms and Conditions with intent or gross negligence. Any such Transactions and any fees and charges relating to such Transactions will be deducted from the Available Balance on your Account.
8.6.3 all Transactions that the Partner Platform or any other Account Manager makes on your behalf as per this Agreement, along with those made by a TPP authorised by you to initiate a Transaction.
8.7 It is your responsibility to keep us updated of changes to your Information, including e-mail address and mobile numbers. Failure to do so may result in us being unable to contact you regarding your Account or to let you know about changes to these Terms and Conditions.
8.8 If you request to recall a Transaction due to an error or mistake caused other than by BulPay, we reserve the right to charge you (i) a handling fee of €25 per recall and (ii) any fee payable by BulPay to a third-party bank or institution for handling the recall.
8.9 You agree to indemnify and hold harmless, us, BulPay and our distributors, partners, agents, sponsors, and service providers and their group companies from and against the costs of any legal action taken to enforce this Agreement, including these Terms and Conditions and/or any breach of these Terms and Conditions by you.
9. DISPUTES AND INCORRECT TRANSACTIONS
9.1 If you (or an Account Manager) have a reason to believe that (i) a Transaction on your Account was unauthorised or was made incorrectly, (ii) someone else (other than TPP) knows the security credentials or otherwise has unauthorised access to your Account, you must inform us immediately by contacting Customer Services. After you notify us, we will replace security credentials, as appropriate.
9.2 We will investigate your claim for a refund of unauthorised or incorrectly executed Transactions, provided at all times that you have notified us without undue delay of becoming aware of such incorrectly executed or unauthorised Transaction and in any case within the timeframes required within 13 months of the date of the relevant Transaction. We will not be liable for any unauthorised or incorrectly executed Transactions notified to us after this period.
9.3 If you dispute a Transaction:
9.3.1 subject to 9.2.2 and 9.2.3 we will immediately refund the amount to your Account to the position it would have been in if the unauthorised Transaction had not taken place. We will have no further liability to you. If we subsequently discover that you were not entitled to a refund, we shall treat the refund as a mistake and be entitled to reapply the Transaction;
9.3.2 if there are reasonable grounds for thinking that you may not be entitled to a refund (based on the evidence available to us at the time you report the unauthorised Transaction), we may investigate before giving you a refund and we will provide you with our supporting evidence if we believe you are not entitled to the refund; and
9.3.3 if the Transaction was initiated through a TPP, it is for the TPP to prove that the Transaction was authenticated, accurately recorded and not affected by a technical breakdown or other deficiency linked to the TPP’s payment initiation service.
9.4. If an incorrect Transaction is paid into your Account that should not have, we will, where possible, immediately send the funds back to the bank acting for the person from whose account the Transaction was made. In such circumstances you agree to return the funds to us and provide such assistance that we require in recovering the amount from you. If we cannot recover the funds, we are required to provide sufficient details about you and the incorrect payment to the bank or institution that sent the payment to enable them to recover the funds.
9.5 You will be liable for all Transactions made from your Account if you (or the Account Manager) have acted fraudulently or have failed with gross negligence:
9.5.1 to keep the security credentials used to access or use your Account safe and secure or otherwise failed to comply with these Terms and Conditions in relation to the safety of your Account or
9.5.2 failed to notify us in accordance with 9.1 above.
9.6 You may be entitled to a refund where a Transaction from your account which was initiated by payee provided that:
9.6.1 the authorisation did not specify the exact amount;
9.6.2 the amount of Transaction exceeded the amount you could reasonably have expected (taking into your previous spending pattern and other relevant circumstances). We may ask you to provide such information as is reasonably necessary for us to determine if this is correct; and
9.6.3 you asked for a refund within 8 weeks of the date the Transaction was debited to your Account.
In such circumstances we will refund you within 10 Business Days of receiving your claim for a refund or, where applicable, within 10 Business Days of receiving any further information we requested - or we will provide you with reasons for refusing the refund.
10. VARIATION
10.1 We may change these Terms and Conditions by providing you with at least two months’ prior notice by e-mail (provided you have supplied us with an up-to-date e-mail address).
10.2 If you do not agree with the changes to the Terms and Conditions, you may at any time within the two months’ notice period notify us and these Terms and Conditions will be terminated and your Account closed free of charge. If you do not notify us to the contrary during this period then you will be deemed to have accepted the change and it will apply to you when it comes into force.
10.3 If any part of these Terms and Conditions are inconsistent with any legal requirements then we will not rely on that part but treat it as if it did actually reflect the relevant legal requirement. If we need to make operational changes before we can fully comply with the new regulatory requirement, we will make those changes as soon as reasonably practical.
11. TERMINATION OR SUSPENSION
11.1 We can terminate your Account at any time if we give you two months’ notice and transfer any Available Balance at the time to your nominated bank account without a charge, or
11.2 We can suspend or terminate your Account at any time with immediate effect (and until your default has been remedied or the Agreement terminated) without any prior notice to you if:
11.2.1 we discover any of the Information that we hold for you is false, misleading or materially incorrect; or
11.2.2 if you, the Account Manager or a third party has engaged in fraudulent activity, money laundering, terrorism, terrorism financing or other illegal activity in connection with your Account or we have reasonable suspicions in respect of same; or
11.2.3 if you have reached your Account Limit; or
11.2.4 you or the Account Manager have breached these Terms and Conditions; or
11.2.5 we are required to do so under any applicable law or regulation or at the direction of any regulatory, law enforcement or other competent authority.
11.3 In the event that we do suspend or terminate your Account then if we are able to do so, we will tell you in advance otherwise we will let you know immediately afterwards (to the extent we are permitted by law).
12. OUR LIABILITY
12.1 Our liability in connection with this these Terms and Conditions (whether arising in contract, tort (including negligence), breach of statutory duty or otherwise) shall be subject to the following exclusions and limitations:
12.1.1 We shall not be liable for any default resulting directly or indirectly from any cause beyond our control, including but not limited to, a lack of funds;
12.1.2 We shall not be liable for any loss of profits, loss of business, or any indirect, consequential, special or punitive losses;
12.1.3 where sums are incorrectly deducted from your Available Balance due to our default, our liability shall be limited to payment to you of an equivalent amount to that which was incorrectly deducted from your Available Balance;
12.1.4 in all other circumstances of our default, our liability will be limited to transferring any Available Balance to your nominated bank account.
12.2 In circumstances where sums are incorrectly deducted from your Available Balance due to our fault, if we require your support to enable us to recover the incorrect deduction, you agree to provide us with all assistance that we reasonably require.
12.3 Nothing in these Terms and Conditions shall exclude or limit our liability for death or personal injury resulting from our negligence or fraud.
12.4 To the extent permitted by law, all conditions or warranties implied by law, statute or otherwise are expressly excluded.
12.5 The above exclusions and limitations set out in this paragraph shall apply to any liability of our affiliates and other suppliers, contractors, agents or distributors and any of their respective affiliates (if any), to you, which may arise in connection with these Terms and Conditions.
13. YOUR INFORMATION
13.1 Some personal data will be necessary for us to provide you with the Account and services under this Agreement. BulPay is a Data Controller and shall only use your personal data for this purpose. Please see the Privacy Policy (please contact Customer Services for details of where to access this) for full details on the personal data that we hold, how we will use it and how we will keep it safe. BulPay will at all times comply with Data Protection Laws.
13.2 We will retain details of individual transactions for six years from the date on which the particular transaction was completed. We will maintain all other records for six years from which we have ceased to provide you with any product or service.
13.3 You must update any changes to your Information by contacting Customer Services.
13.4 If we discover that the Information we hold about you is incorrect, we may have to suspend or cancel your Account until we can establish the correct Information, in order to protect us both.
13.5 If you or the Account Manager allow or give consent to an Authorised Third Party Provider to access your Account to provide their services, you should know that we have no control over how an Authorised Third Party Provider will use your information nor will we be liable for any loss of information after an Authorised Third Party Provider have access to your information.
14. COMPLAINTS PROCEDURE
14.1 Complaints regarding any element of the service provided by us can be sent to Customer Services.
14.2 All complaints will be subject to our complaints procedure. We will provide you with a copy of our complaints procedure upon request and, if we receive a complaint from you, a copy of our complaints procedure will automatically be posted or emailed to you.
14.3 In most cases we will provide a full response by email to your complaint within fifteen Business Days after the date we receive your complaint. In exceptional circumstances where we are unable to respond in full to your complaint, we will inform you of this giving our reasons for the delay and the timeframe within which you will receive a full reply, which in any event shall be within thirty-five days of the date we received your complaint.
14.4 If we fail to resolve your complaint to your satisfaction you may refer your complaint to the Financial Services and Pensions Ombudsman, Lincoln House, Lincoln Place, Dublin 2, D02 VH29 (phone (01) 567 7000). Details of the service offered by the Financial Services and Pensions Ombudsman are available at www.fspo.ie.
15. GENERAL
15.1 Any delay or failure to exercise any right or remedy under these Terms and Conditions by us shall not be construed as a waiver of that right or remedy or preclude its exercise at any subsequent time.
15.2 If any provision of these Terms and Conditions is deemed unenforceable or illegal, the remaining provisions will continue in full force and effect.
15.3 You may not assign or transfer any of your rights and/or benefits under these Terms and Conditions and you shall be the sole party to the contract between us. You will remain liable until the Account issued to you is terminated. We may assign our rights and benefits at any time without prior written notice to you. We may subcontract any of our obligations under these Terms and Conditions.
15.4 No third party who is not a party to these Terms and Conditions has a right to enforce any of the provisions in these Terms and Conditions.
15.5 These Terms and Conditions contain the information set out in Part 3 of the European Union (Payment Services) Regulations 2018 (the PSRs) and you can obtain a copy of this Agreement at any time by contacting Customer Services.
15.6 These Terms and Conditions are governed by Irish law and you agree to the exclusive jurisdiction of the courts of Ireland.
15.7 This Account is not covered by a compensation scheme. As a responsible e-money issuer, we will ensure that once we have received your funds they are deposited in a secure account, specifically for the purpose of redeeming Transactions made from your Account and will be safeguarded in accordance with our obligations under the European Communities (Electronic Money) Regulations 2011. In the event that we become insolvent funds that you have loaded which have arrived with and been deposited by us are protected against the claims made by our creditors.
16. CONTACTING CUSTOMER SERVICES
16.1 Customer Services are provided by the Partner Platform. The details are available in your Introduced Client Application Form.
Section 2: Cardholder Terms and Conditions
This section 2 comprises the terms and conditions governing the BulPay Prepaid Mastercard which are between you and Transact Payments Malta Limited. You have entered into these terms and conditions if you are resident in the European Economic Area
IMPORTANT INFORMATION:Please read this Cardholder Agreement carefully before activating your Account. This Cardholder Agreement becomes effective and binding on you upon your activation or use of your Card and for the entire period of validity of your Card.
1 Definitions & Interpretation:
Account
The electronic money account provided by Modulr FS Europe Limited associated with your Card and opened in accordance with Section 1 of this Cardholder Agreement.
Additional Card
A person who you have authorised to hold an Additional Card.
Cardholder Agreement
These terms and conditions relating to the use of your Card(s) as amended from time to time.
Applicable Law
any applicable law (including but not limited to, any local law of the jurisdictions into which the Card is provided and the Program is operated), statute, statutory instrument, act, regulation, rule, order, supervisory guidance, policy, instruction or requirement stipulated by an applicable Regulatory Authority, or interpretation promulgated or published by any Regulatory Authority, any order issued by a court having jurisdiction over a party, or any applicable rule or requirement of any Card Scheme related to the issuance, sale, authorisation or usage of the Card and/or services to be provided under this Cardholder Agreement or such other rule as deemed valid by TPML from time to time.
Available Balance
The value of unspent funds on your Account and available for your use.
Business Day
Monday to Friday, 8am to 5pm CET, excluding bank and public holidays in Bulgaria..
BulPay Portal
The BulPay web application that allows you to access your Account, perform Account-related activities and view Card and Transaction related information.
Card
Any Card issued to you in accordance with this Cardholder Agreement.
Customer Services
The contact centre for dealing with queries about your Card. You can contact Customer Services by:
calling +359 (0) 877109099 (your network provider may charge a fee for calling this number);
e-mailing support@bulpay.eu from the email address registered to your Online Account; or
writing to MT Group Ltd, 10 Gen. Stefan Toshev Str., Entr. B, Gl.1, Ap. 47, Stara Zagora, 6000, Bulgaria
ЕЕА
European Economic Area.
Expiry Date
The expiry date showing on your Card.
Fee
Any fee payable by you as referenced in the Fees & Limits Schedule
Fees & Limits Schedule
The schedule contained in Section 4 of the Agreement.
KYC
Means “Know Your Customer” and constitutes our verification of your Personal Details
Merchant
A retailer or any other person that accepts e-money via the Card.
Personal
Data
The registered personal identity details relating to the use of your Card including (but not limited to) your: name, date of birth, home address, email address and telephone (landline and/or mobile) number. Full details of the Personal Data which we process are set out in our Privacy Policy.
Physical Card
A physical/plastic Card that can be used to carry out Transactions.
PIN
Personal Identification Number; that is, the security number provided for use with your Card.
Primary Card
The first Card issued to you following your registration for a Card in accordance with this Cardholder Agreement.
Primary Cardholder
The person who has been issued with the Primary Card and who is responsible for the use of all other Additional Cards in accordance with this Cardholder Agreement.
Program Manager
Lerex Technology with registration number 09829039 and registered address Abacus House, Caxton Place, Cardiff, CF23 8HA.
Regulatory Authority
as the context requires, any Scheme and/or any regulator or agency having jurisdiction over Issuer or Program Manager related to the issuance, marketing, sale, authorisation or usage of the Cards, Program(s) or services provided under this Cardholder Agreement, including without limitation the Malta Financial Services Authority.
Scheme
Mastercard; Mastercard is a registered trademark of Mastercard International Incorporated
Transaction
The use of your Card to make (i) a payment, or a purchase of goods or services from a Merchant where payment is made (in whole or in part) by use of your Card including where payment is made over the internet, by phone or mail order or (ii) a cash withdrawal made from an ATM or bank using your Card.
Username and Password
A set of personal codes selected by you in order to access your Account;
Virtual Card
A non-physical Card, the use of which is limited to online, phone or mail order purchases. For the avoidance of doubt, a Virtual Card cannot be used to make a cash withdrawal from an ATM or bank and any reference to such withdrawals or to a Physical Card in this Cardholder Agreement excludes the Virtual Card.
Website
www.bulpay.eu
we, us or our
Transact Payments Malta Limited (“TPML”) a company incorporated in Malta with registered address Vault 14, Level 2, Valletta Waterfront, Floriana, FRN 1914, company registration number 91879, and authorised by the Malta Financial Services Authority as an electronic money institution or the Program Manager acting on its behalf.
you or your
You, the person who has entered into this Cardholder Agreement with us by virtue of your use of the Card and any other person you have authorised to use any Cards in accordance with this Cardholder Agreement.
1. Your Cardholder Agreement and Card
1.1Your Card is issued by us pursuant to a licence from the Scheme and your rights and obligations relating to the use of the Card are subject to this Cardholder Agreement.
2.2 You can download or print the latest version of this Cardholder Agreement at any time from the Website and/or request a paper copy from Customer Services.
2. Purchase and activation of your Card
2.1 To apply for, and use, a Card you must be at least 18 and a resident of Austria, Bulgaria, Denmark, Finland, Poland, Portugal or Sweden.
2.2 Cards may be obtained and activated via the BulPay Portal after registration and successful KYC checks.
2.3 When you receive your Physical Card, you must sign it immediately and then log onto the BulPay Portal to activate it using your activation code sent to you by email when you ordered your card. You must register your Card within the BulPay Portal by loading a minimum of £10.
2.4 Regardless of the number of Cards you have, you are permitted to have only one Account where your Available Balance is located. If we discover that you do have more than one Account, we may block your Card and terminate this Cardholder Agreement.
2.5 Provided we have been able to undertake KYC, you shall receive an activation confirmation by email or on your Online Account and you will be able to use the Card.
3. Personal Details
3.1 When entering into Transactions over the internet, some websites may require you to enter your Personal Details and, in such instances, you should supply the most recent Personal Details that you have provided us with.
3.2 You must notify us of any change in your Personal Details as soon as possible by contacting Customer Services or updating the details in your Online Account. You will be liable for any loss that directly results from any failure to notify us of a change in your Personal Details as a result of undue delay, your gross negligence or fraud. We will need to verify your new Personal Details and may request relevant KYC information/documents from you as applicable.
3.3 We reserve the right at any time to satisfy ourselves as to your Personal Details (for example, by requesting relevant original documents) including for the purposes of preventing fraud and/or money laundering. In addition, at the time of your application or at any time in the future, in connection with your Card, you authorise us to undertake electronic identity verification checks on you either directly or using relevant third parties.
4. Using your Card
4.1 TPML is not responsible for any funds that have not been loaded onto the Card and does not provide services for loading funds to the Card.
4.2 We reserve the right to request KYC documents and verification of your source of funds at any point.
4.3 If enabled, you will have the option to transfer your Available Balance or part balance from your Card to other Bulpay Prepaid Mastercards that have been issued by us (i.e. a “Card-to-Card” transfer). If you instruct us to make a transfer from your Card to another person’s Card, the requested amount will be debited from your Card and credited to the other person’s Card in accordance with your instructions. You may incur a Card-to-Card Transfer Fee for this transaction.
4.4 Your use of the Card is subject to the fees and limits detailed in the Fees & Limits Schedule, which shall be deducted from the Available Balance. Fees and limits may vary according to the type of Card.
4.5 Unless we inform you otherwise, you can use the Card at any Merchant who accepts the Scheme to carry out Transactions.
4.6 You must always ensure that you have sufficient Available Balance for each Transaction you authorise (including value added tax and other taxes, duties and applicable fees). If the Available Balance is insufficient to pay for a Transaction, some Merchants may not permit you to combine the use of your Card with other payment methods.
4.7 If for any reason a Transaction is carried out but its amount exceeds the Available Balance, you must pay us the deficit immediately, and if you fail to do so after receiving a notification from us, we reserve the right to take all necessary steps, including legal action, to recover this deficit.
4.8 There are certain circumstances where a Merchant may require you to have an Available Balance greater than the value of the Transaction you wish to make and you will only be charged for the actual and final value of the Transaction. Merchants may request this as they may need to access more funds than you initially planned to spend for example, when making hotel or rental car reservations. In the event that a Merchant has prior authorization on your Card, you will not have access to the relevant funds until the Transaction is completed or, if sooner, up to a period of 30 days. We will only block access to the exact amount of funds authorised by you.
4.9 Your Card cannot be used where such Merchants are unable to obtain online authorisation that you have sufficient Available Balance for the Transaction (for example, Transactions made on trains, ships, some in-flight purchases and tollbooths). We accept no liability if a Merchant refuses to accept payment using the Card.
4.10 We do not recommend using a Virtual Card to purchase an item over the internet that subsequently would require the presentation of a physical reference device in order to obtain that item. Examples include certain theatre ticket purchases, hotel stays, car rentals, and online purchases picked up in person.
4.11 You must not use the Card for any illegal purposes.
5. Authorising Card Transactions
5.1 You will need to give your consent to each Transaction so that we can check it is genuine by, where applicable, a) using your PIN or other security code personal to you; b) providing the Card details and/or providing any other details personal to you and/or your Card. Once you have given such consent to the Transaction, it will be deemed to be authorised.
5.2 The time of receipt of a Transaction order is when we receive it. If a Transaction order is received after 4pm on a Business Day then it will be deemed to have been received on the next Business day.
5.3 Once a Transaction has been authorised by you and received by us, it cannot be revoked.
5.4 Where a Merchant’s payment service provider is located within the UK or EEA and the payment services being carried out are in the currency of an EEA Member State or the UK, we shall ensure the cash transfer to the Merchant’s payment service provider within 4 Business Days following the day on which the Transaction order is received.
5.5 Certain Merchants may not accept payments made through the Card and we accept no liability for this: it is your responsibility to check the restrictions of each Merchant.
5.6 Your ability to use or access the Card may occasionally be interrupted, for example if we need to carry out maintenance on our systems or websites. Please contact Customer Services to notify us of any problems you are experiencing using your Card and we will try to resolve these as soon as possible.
6. Additional Cards
6.1 At our sole discretion and provided we have received sufficient KYC information/documents (in accordance with condition 5.2), you may be eligible to apply for an Additional Card for use by an Additional Cardholder by contacting Customer Services or accessing the relevant area in your Online Account.
6.2 Additional Cardholders must be at least 18 years old or, provided that you are legally responsible for them, at least 13 years old. Transactions by persons under 18 years of age may not be allowed by some Merchants but in all cases, you shall be responsible for any use of any Additional Cards by such persons. We may request KYC for each Additional Cardholder as required.
6.3 If your Additional Card application is successful, we will send you an Additional Card, which will be subject to a Fee and which you may give to the nominated Additional Cardholder for their exclusive use, provided that:
6.3.1 you provide the Additional Cardholder with a copy of these terms and conditions (which will then bind use by both of you);
6.3.2 the Additional Card is used only by that Additional Cardholder;
6.3.3 you retain the Primary Card for your sole and exclusive use in accordance with this Cardholder Agreement;
6.3.4 all Transactions made on the Additional Card shall be considered as having been authorised directly by the Primary Cardholder, who shall be responsible for such Transactions and any applicable Fees.
7.4 Additional Cards will be connected to the same Account as the Primary Card. Funds may only be added to the Account by the Primary Cardholder.
7.5 You must ensure that any Additional Cardholders under 18 years of age do not use a Card for any purpose for which the minimum age is at least 18 e.g. purchase of alcohol, adult entertainment or gambling.
7.6 Additional Cards can be issued only to EEA citizens.
8. Managing & Protecting Your Card
8.1 You can retrieve your PIN from your BulPay Portalwhen you activate your Card. You will need this PIN in order to make cash withdrawals from an ATM (permitted for Physical Cards only).
8.2 If you forget your PIN, you can retrieve a reminder from your BulPay Portal.
8.3 When ordering a Primary Card, you will be prompted to create a Username and Password. You will need this Username and Password to access your BulPay Portal and to perform the following functions (as well as any other functions which may be added from time to time) in relation to your Card online:
8.3.1 change your telephone number;
8.3.2 check your Available Balance;
8.3.3 check your Transaction Details; and
8.3.4 change your Password.
8.4 Other than in relation to an Additional Cardholder, you must not give your Card to any other person or allow any other person to use it.
8.5 You are responsible for your Card, PIN, Username and Password, BulPayPortal and any related security details (“Security Details”) and must take all possible measures to keep them safe and entirely confidential. Such measures include (but are not limited to):
8.5.1 memorising your PIN as soon as you retrieve it;
8.5.2 never writing your PIN on your Card or on anything you usually keep with your Card;
8.5.3 keeping your PIN secret at all times for example, by not using your PIN if anyone else is watching.
8.6 Failure to comply with this condition 8 may affect your ability to claim any losses in the event that we can show that you have intentionally failed to keep the information safe or you have acted fraudulently, with undue delay or with gross negligence. In all other circumstances, your maximum liability shall be as set out below at condition 13.4.
8.7 If you believe that someone else knows your BulPay Portal PIN or Security Details, you must notify us by contacting Customer Services immediately.
8.8 In the event that we suspect or believe that your Card may be subject to any fraud or security threats, we will notify you securely via telephone or email during which we will ask you to answer security questions.
8.9 Once your Card has expired or if it is found after you have reported it as lost or stolen you must destroy it by cutting it in two through the magnetic strip.
9. Cancellation
9.1 If you have ordered your Card online, you may cancel it free of charge before activating and using it, and up to 14 calendar days after the date of activation (the Cancellation Period) by writing to Customer Services. This does not apply to replacement Cards where the cancellation period for the original Card has expired.
9.2 You may also terminate your Card at any time by contacting Customer Services.
9.3 Once your Card has been cancelled, it will be your responsibility to destroy your Physical Card(s).
10. 3D Secure
10.1 In order to help reduce fraud and provide extra security for your payments, you will be required to use the 3D Secure service (also known as ‘Mastercard SecureCode’, ‘Identity Check’) (“3DS Service”) when making online payments .
10.1.1 You must keep your security information (including your 3DS One Time Passwords) safe and confidential at all times.
10.1.2 If you think someone may be accessing your Account or the 3DS Service without your authority you must notify us immediately.
10.2 Use of your Information
10.2.1 We may use the data you supply to us in relation to the 3DS Service to administer the service.
10.2.2 We will not share your information with online retailers; however, details may be supplied to third parties if this is required for a legal or regulatory reason.
10.2.3 You must keep your information up to date at all times. If there is a change to your personal details, you must notify us immediately by contacting our customer service by calling the number on the back of your card (your network provider may charge a fee to call this number) or by updating your personal details in the BulPay.
10.2.4 We will manage and protect your personal data in accordance with all applicable data protection laws. For full and comprehensive information about when and why we collect personal information about you, how we use it and the conditions under which we may disclose it, please refer to our Privacy Policy which is provided to you at the time we collect your Personal Data and which can be found in the BulPay.
10.3 Changes to the 3DS Service
10.3.1 We may make changes to the 3DS Service in order to update or improve it or to reflect requirements imposed by us by any party which assists us in providing the 3DS Service.
10.3.2 We may make changes with immediate effect if required to do so by any law or regulatory requirement affecting us.
10.4 Suspension or Termination of the 3DS Service
We may suspend, restrict use or terminate the 3DS Service where:
- There is a breach of security;
- There is a legal or regulatory requirement to do so;
In exceptional circumstances if we are required to do so by Mastercard International or any third party which assists us in providing the 3DS Service.
10.5 Liability
10.5.1 Unless you are a victim of fraud, you may be responsible for all transactions carried out and verified with your 3DS One Time Passwords.
10.5.2 We shall not be liable for any failures of the 3DS Service caused by any systems failing or other events which we cannot reasonably control.
11. Expiry
11.1 This Cardholder Agreement shall terminate on the Expiry Date unless you are issued with a replacement card.
12. Termination or Suspension of your Card
12.1 When this Cardholder Agreement is terminated, your Account is closed. We may terminate this Cardholder Agreement at any time by giving you two months’ advance notice (which will be sent to the email address that you have provided to us).
12.2 We can suspend your Card/ Account, restrict its functionality or terminate this Cardholder Agreement at any time with immediate effect if:
12.2.1 you haven’t given us the information we need or we believe that any of the information that you have provided to us was incorrect or false; or
12.2.2 a Transaction has been declined because of a lack of Available Balance or you do not repay money that you owe to us; or
12.2.3 you fail to provide the Personal Data necessary for us to comply with our legal obligations and to fulfil this Cardholder Agreement; or
12.2.4 we reasonably suspect that the security of the Card has been compromised or that you, or any third party, have used, or intend to use the Card in a grossly negligent manner or for fraudulent or other unlawful purposes; or
12.2.5 we believe that your use of the Card may result in harm to us or our systems; or
12.2.6 your agreement with Modulr under Section 1 of this Agreement has been suspended, restricted or terminated; or
12.2.7 we believe that your continued use of the Card may damage our reputation; or
12.2.8 you become bankrupt; or
12.2.9 we are required to do so under Applicable Law or where we believe that continued operation of the Program may be in breach of Applicable Law; or
12.2.10 you do not access your Account for 3 years; or
12.2.11 we cannot process some or all of your Transactions due to the actions of third parties; or
12.2.12 you have breached this Cardholder Agreement.
12.3 In the event that we do suspend or terminate your Card then, where lawfully permitted, we shall notify you in advance or as soon as possible afterwards. We may advise anyone involved in the Transaction if a suspension has taken place.
12.4 Unless or until you or we terminate this Cardholder Agreement, this Cardholder Agreement will remain in force.
13. Loss or Theft of your Card.
13.4 You are responsible for protecting your Card as if it were cash in your wallet.
13.5 You must contact us without delay by calling us on +359 (0) 877 109099 or reporting your card lost/stolen within the BulPay Portal. if you know or suspect that a Card is lost, stolen, misappropriated or subject to unauthorised use or that the PIN or any Card related security details is known to an unauthorised person or you think that a Transaction has been incorrectly executed.
11.3 You shall be liable for up to a maximum of €50 of losses due to unauthorised Transactions made before you informed us about the theft, loss or misappropriation of the Card. If our investigations reveal that you authorised a disputed Transaction or that you acted fraudulently or that you negligently or with intent breached the terms of this Cardholder Agreement (for example, by not keeping your Security Details or Card safe), you may be liable for any loss we suffer due to use of the Security Details or Card.
13.4 Once a loss, theft or unauthorised use of your Card is reported, use of the Card shall be blocked to avoid further losses.
13.5 Replacement Cards will be sent to the most recent address you have provided and will be subject to a Fee.
13.6 You agree to cooperate with our agents, any supervisory authority, the police and us if your Card is lost, stolen or if we suspect fraudulent use of the Card.
13.7 In the event that you inform us of an unauthorised or incorrectly executed Transaction without undue delay, and in any event no later than 13 months after the debit date, we will refund the amount immediately unless we have any reason to believe that the incident may have been caused by a breach of this Cardholder Agreement, through gross negligence or we have reasonable grounds to suspect fraud.
13.8 In the event of a non-executed or defectively executed Transaction, we will make immediate efforts to trace the Transaction and will notify you of the outcome. We will not charge you for such efforts. In the event that we are liable for such Transaction, we will refund the amount, together with the amount of any resulting charges to which you may be subject, without undue delay.
13.9 In the event that a Transaction that was executed within the EEA or the UK arrived later than it should have according to the terms of this Cardholder Agreement, you may request that we contact the receiving payment institution to ask them to treat it as if it was made on time.
13.10 In the event that a Transaction is made which is initiated by a Payee, we will provide a refund of that amount, subject to clause 14311, only in circumstances where you can prove that:
(i) the exact Transaction amount was not specified when you authorised the payment; and
(ii) the amount of the Transaction exceeds the amount that you could have reasonably expected, taking into account your previous spending pattern, the terms of this Cardholder Agreement and the relevant circumstances of the case.
13.11 The refund referred to in 13.10 will not be provided if:
(i) the amount relates to currency exchange fluctuations; or
(ii) you have given your consent to execute the Transaction directly to us; or
(iii) information on the Transaction was provided or made available in an agreed manner to you at least 4 weeks prior to the due date of the Transaction; or
(iv) you request the refund from us later than 8 weeks from the date on which it was debited.
15.Payment Disputes
15.1 If you dispute a Transaction that you have authorised and which has been processed on your Card, you should settle this with the person you bought the goods or services from; we are not responsible for the quality, safety, legality or any other aspect of goods or services purchased with your Card.
15.2 If your dispute with a Merchant relating to a Transaction cannot be resolved you should contact us at Customer Services, and we will attempt to assist you as far as is reasonably practicable.
15.3 If you have reason to believe that a Transaction was carried out without your consent or in error, you may ask us to investigate the Transaction. If we investigate the Transaction, the disputed amount will be unavailable to spend until our investigation is complete and if we receive information that proves the Transaction was genuine, this will be deducted from your Available Balance and we may charge you an investigation fee. If you do not have sufficient Available Balance, you must repay us the amount immediately on demand.
16. Foreign Exchange
16.1 If you use your Card in a currency other than the currency in which your Card is denominated (“Foreign Currency Transaction”), the amount deducted from your Available Balance will be the amount of the Foreign Currency Transaction converted to your Card currency using a rate set by the Scheme on the date the Transaction is authorised.
16.2 You may also be charged a foreign exchange Fee as set out in the Fees & Limits Schedule. In order to allow you to compare charges for currency conversion, you can view the real-time percentage difference between the amount that will be charged on your Card for a Foreign Currency Transaction (consisting of the mark-up applied by the Scheme as well as any other charges) and the latest available euro foreign exchange reference rates issued by the European Central Bank. You can view this information on the BulPay Portal prior to making a Foreign Currency Transaction. This information will also be sent to you by push notification after making a relevant Foreign Currency Transaction, where required by Applicable Law. You are able to opt out of receiving this notification in the card setting section on the BulPay portal.
17. Our Liability
17. We shall not be liable for any loss arising:
(i)from any default resulting directly or indirectly from any cause beyond our control, including but not limited to, a lack of funds and/or failure of network services at ATMs, maximum withdrawal limits set by ATM operators and failure of data processing systems; or
(i)from any loss of profits, loss of business, or any indirect, consequential, special or punitive losses; or
(ii)from any use of this Card that is contrary to this Cardholder Agreement; or
(iii)for goods or services that are purchased with the Card; or
(iv)for any damages due to loss, fraud or theft that you have reported to us 13 months after the event.
17.2 We will not be liable to you if your contact details have changed and you have not told us.
17.3 Where the Card is faulty due to our default, our liability shall be limited to replacement of the Card.
17.4 Where sums are incorrectly deducted from your Available Balance due to our default, our liability shall be limited to payment to you of an equivalent amount.
17.5 Nothing in this Cardholder Agreement shall exclude or limit our liability for death or personal injury resulting from our negligence or fraud.
17.6 To the extent permitted by law, all conditions or warranties implied by law, statute or otherwise are expressly excluded.
17.7 The above exclusions and limitations set out in this paragraph shall apply to any liability of our affiliates such as the Schemes, and other suppliers, contractors, distributors and any of their respective affiliates (if any), to you, which may arise in connection with this Cardholder Agreement.
17.8 For all other matters not expressly covered in this condition 17, and to the extent permitted by applicable law, our total aggregate liability shall be limited to the total amount of money that you have spent using your Card over the 12-month period prior to the claim.
18. Complaints
18.1 Should you wish to make a complaint about your Card, you may contact Customer Service support@BulPay.eu to submit details of such complaint.
18.2 Upon our receipt of your emailed complaint, we shall endeavour to respond to you as quickly as possible but in any event we shall reply to you by return email within 15 Business Days.
18.3 If, having received a response from our Customer Services team, you are unhappy with the outcome, you can escalate your complaint to TPML’s Complaints Department by writing to complaints@transactpaymentslimited.com
18.4 If TPML’s Complaints Department is unable to respond to your complaint immediately, you will receive confirmation that your complaint has been received and a formal investigation will be conducted. You will receive a formal response of their findings within 35 Business Days of receipt of your complaint.
18.5 We will make every effort to reach a resolution to your complaint and will fully explain the reasoning behind our decision.
18.6 In the unlikely event that we are unable to resolve your issue to your satisfaction you have the right to refer your complaint to the Office of the Arbiter for Financial Services, 1st Floor, St Calcedonius Square, Floriana FRN 1530, Malta (Telephone+ 356 21249245, Website: https://financialarbiter.org.mt)
19. General Communication
19.1 Any communication from us to you will be given by notification on the BulPay Portal and/or by email (using the latest contact details with which you have provided us).
19.2 You may contact us via Customer Service, the details of which are set out in clause 1.
20 Personal Data
20.1 TPML is the Data Controller of your Personal Data associated with the application for and use of this Card only and will collect certain information about the purchaser and the users of the Card in order to operate the Card program. Your provision of your Personal Data and our processing of that data is necessary for each of us to carry out our obligations under this Cardholder Agreement. At times, the processing may be necessary so that we can take certain steps, at your request, prior to entering into this Cardholder Agreement. If you fail to provide the personal data which we request, we will take steps to terminate this Cardholder Agreement in accordance with clause 12.2 (iii) above.
20.2 We will manage and protect your personal data in accordance with all applicable data protection laws. For full and comprehensive information about when and why we collect personal information about you, how we use it, the conditions under which we may disclose it and how we keep it secure, please refer to our Privacy Policy which is provided to you at the time we collect your personal data.
21. Changes to the Terms and Conditions
21.1 We may update or amend this Cardholder Agreement at any time on at least 2 months’ advance notice, which shall be given, by e-mail (using the latest contact details you have provided us with).
21.2 If you do not agree with the changes to the Cardholder Agreement, you may at any time within the 2-month notice period terminate your Cardholder Agreement in accordance with condition 9 You will be deemed to have accepted any change to this Cardholder Agreement unless you notify us before the proposed date of the change.
21.3 If any part of this Cardholder Agreement is inconsistent with any regulatory requirements then we will not rely on that part but treat it as if it did actually reflect the relevant regulatory requirement. If we need to make operational changes before we can fully comply with the new regulatory requirement, we will make those changes as soon as reasonably practical.
22. Language
The English language version of this Cardholder Agreement and of any communications and Website content will prevail over any other language version which we may issue from time to time.
23. Governing Law
This Cardholder Agreement is governed by Malta law.
24. Jurisdiction
You agree to the non-exclusive jurisdiction of the courts of Malta.
25. Miscellaneous
25.1 Any delay or failure to exercise any right or remedy under this Cardholder Agreement by us shall not be construed as a waiver of that right or remedy or preclude its exercise at any subsequent time.
25.2 The Card is a payment service product and not a deposit or credit or banking product and, as such is not governed by the Deposit Security Scheme of Malta. Please refer to clause 15.7 of Section 1 in relation to the safeguarding of your funds.
25.3 If any provision of this Cardholder Agreement is deemed unenforceable or illegal, the remaining provisions will continue in full force and effect.
25.4 You may not assign or transfer any of your rights and/or benefits under this Cardholder Agreement and you shall be the sole party to the contract between us. You will remain liable until all Cards issued to you are cancelled or have expired and all sums due under this Cardholder Agreement have been paid by you in full. We may assign our rights and benefits under this Cardholder Agreement to a third party and may subcontract any of our obligations under this Cardholder Agreement.
Section 3: Cardholder Terms and Conditions
This section 3 comprises the terms and conditions governing the BulPay Prepaid Mastercard which are between you and Transact Payments Limited. You have entered into these terms and conditions if you are resident in the United Kingdom
IMPORTANT INFORMATION:Please read this Cardholder Agreement carefully before activating your Account. This Cardholder Agreement becomes effective and binding on you upon your activation or use of your Card and for the entire period of validity of your Card.
Definitions & Interpretation:
Account
The electronic money account provided by Modulr FS Europe Limited associated with your Card and opened in accordance with Section 2 of this Cardholder Agreement.
Additional Cardholder
A person who you have authorised to hold an Additional Card..
Cardholder Agreement
These terms and conditions relating to the use of your Card(s) as amended from time to time.
Applicable Law
any applicable law (including but not limited to, any local law of the jurisdictions into which the Card is provided and the Program is operated), statute, statutory instrument, act, regulation, rule, order, supervisory guidance, policy, instruction or requirement stipulated by an applicable Regulatory Authority, or interpretation promulgated or published by any Regulatory Authority, any order issued by a court having jurisdiction over a party, or any applicable rule or requirement of any Card Scheme related to the issuance, sale, authorisation or usage of the Card and/or services to be provided under this Cardholder Agreement or such other rule as deemed valid by TPL from time to time.
Available Balance
The value of unspent funds on your Account and available for your use.
Business Day
Monday to Friday, 8am to 5pm CET, excluding bank and public holidays in Bulgaria..
BulPay Portal
The BulPay web application that allows you to access your Account, perform Account-related activities and view Card and Transaction related information.
Card
Any Card issued to you in accordance with this Cardholder Agreement.
Customer Services
The contact centre for dealing with queries about your Card. You can contact Customer Services by:
calling +359 (0) 877109099 (your network provider may charge a fee for calling this number);
e-mailing support@bulpay.eu from the email address registered to your Online Account; or
writing to MT Group Ltd, 10 Gen. Stefan Toshev Str., Entr. B, Gl.1, Ap. 47, Stara Zagora, 6000, Bulgaria
ЕЕА
European Economic Area.
Expiry Date
The expiry date showing on your Card.
Fee
Any fee payable by you as referenced in the Fees & Limits Schedule
Fees & Limits Schedule
The schedule contained in Section 4 of the Agreement.
KYC
Means “Know Your Customer” and constitutes our verification of your Personal Details
Merchant
A retailer or any other person that accepts e-money via the Card.
Personal Data
The registered personal identity details relating to the use of your Card including (but not limited to) your: name, date of birth, home address, email address and telephone (landline and/or mobile) number. Full details of the Personal Data which we process are set out in our Privacy Policy.
Physical Card
A physical/plastic Card that can be used to carry out Transactions.
PIN
Personal Identification Number; that is, the security number provided for use with your Card.
Primary Card
The first Card issued to you following your registration for a Card in accordance with this Cardholder Agreement.
Primary Cardholder
The person who has been issued with the Primary Card and who is responsible for the use of all other Additional Cards in accordance with this Cardholder Agreement.
Program Manager
Lerex Technology with registration number 09829039 and registered address Abacus House, Caxton Place, Cardiff, CF23 8HA.
Regulatory Authority
as the context requires, any Scheme and/or any regulator or agency having jurisdiction over Issuer or Program Manager related to the issuance, marketing, sale, authorisation or usage of the Cards, Program(s) or services provided under this Cardholder Agreement, including without limitation the Malta Financial Services Authority.
Scheme
Mastercard; Mastercard is a registered trademark of Mastercard International Incorporated
Transaction
The use of your Card to make (i) a payment, or a purchase of goods or services from a Merchant where payment is made (in whole or in part) by use of your Card including where payment is made over the internet, by phone or mail order or (ii) a cash withdrawal made from an ATM or bank using your Card.
Username and Password
A set of personal codes selected by you in order to access your Account;
Virtual Card
A non-physical Card, the use of which is limited to online, phone or mail order purchases. For the avoidance of doubt, a Virtual Card cannot be used to make a cash withdrawal from an ATM or bank and any reference to such withdrawals or to a Physical Card in this Cardholder Agreement excludes the Virtual Card.
Website
www.bulpay.eu
we, us or our
Transact Payments Limited (“TPL”) a company incorporated in Gibraltar with registered address 6.20 World Trade Center, 6 Bayside Road, Gibraltar GX11 1AA, company registration number 108217, and authorised by the Gibraltar Financial Services Commission as an electronic money institution or the Program Manager acting on its behalf.
you or your
You, the person who has entered into this Cardholder Agreement with us by virtue of your use of the Card and any other person you have authorised to use any Cards in accordance with this Cardholder Agreement.
2. Your Cardholder Agreement and Card
2.1 Your Card is issued by us pursuant to a licence from the Scheme and your rights and obligations relating to the use of the Card are subject to this Cardholder Agreement.
2.2 You can download or print the latest version of this Cardholder Agreement at any time from the Website and/or request a paper copy from Customer Services.
3. Purchase and activation of your Card
3.1 To apply for, and use, a Card you must be at least 18 and a resident of Austria, Bulgaria, Denmark, Finland, Poland, Portugal or Sweden.
3.2 Cards may be obtained and activated via the BulPay Portal after registration and successful KYC checks.
3.3 When you receive your Physical Card, you must sign it immediately and then log onto the BulPay Portal to activate it using your activation code sent to you by email when you ordered your card. You must register your Card within the BulPay Portal by loading a minimum of £10.
3.4 Regardless of the number of Cards you have, you are permitted to have only one Account where your Available Balance is located. If we discover that you do have more than one Account, we may block your Card and terminate this Cardholder Agreement.
3.5 Provided we have been able to undertake KYC, you shall receive an activation confirmation by email or on your Online Account and you will be able to use the Card.
4. Personal Details
4.1 When entering into Transactions over the internet, some websites may require you to enter your Personal Details and, in such instances, you should supply the most recent Personal Details that you have provided us with.
4.2 You must notify us of any change in your Personal Details as soon as possible by contacting Customer Services or updating the details in your Online Account. You will be liable for any loss that directly results from any failure to notify us of a change in your Personal Details as a result of undue delay, your gross negligence or fraud. We will need to verify your new Personal Details and may request relevant KYC information/documents from you as applicable.
4.3 We reserve the right at any time to satisfy ourselves as to your Personal Details (for example, by requesting relevant original documents) including for the purposes of preventing fraud and/or money laundering. In addition, at the time of your application or at any time in the future, in connection with your Card, you authorise us to undertake electronic identity verification checks on you either directly or using relevant third parties.
5. Using your Card
5.1 TPML is not responsible for any funds that have not been loaded onto the Card and does not provide services for loading funds to the Card.
5.2 We reserve the right to request KYC documents and verification of your source of funds at any point.
5.3 If enabled, you will have the option to transfer your Available Balance or part balance from your Card to other Bulpay Prepaid Mastercards that have been issued by us (i.e. a “Card-to-Card” transfer). If you instruct us to make a transfer from your Card to another person’s Card, the requested amount will be debited from your Card and credited to the other person’s Card in accordance with your instructions. You may incur a Card-to-Card Transfer Fee for this transaction.
5.4 Your use of the Card is subject to the fees and limits detailed in the Fees & Limits Schedule, which shall be deducted from the Available Balance. Fees and limits may vary according to the type of Card.
5.5 Unless we inform you otherwise, you can use the Card at any Merchant who accepts the Scheme to carry out Transactions.
5.6 You must always ensure that you have sufficient Available Balance for each Transaction you authorise (including value added tax and other taxes, duties and applicable fees). If the Available Balance is insufficient to pay for a Transaction, some Merchants may not permit you to combine the use of your Card with other payment methods.
5.7 If for any reason a Transaction is carried out but its amount exceeds the Available Balance, you must pay us the deficit immediately, and if you fail to do so after receiving a notification from us, we reserve the right to take all necessary steps, including legal action, to recover this deficit.
5.8 There are certain circumstances where a Merchant may require you to have an Available Balance greater than the value of the Transaction you wish to make and you will only be charged for the actual and final value of the Transaction. Merchants may request this as they may need to access more funds than you initially planned to spend for example, when making hotel or rental car reservations. In the event that a Merchant has prior authorization on your Card, you will not have access to the relevant funds until the Transaction is completed or, if sooner, up to a period of 30 days. We will only block access to the exact amount of funds authorised by you.
5.9 Your Card cannot be used where such Merchants are unable to obtain online authorisation that you have sufficient Available Balance for the Transaction (for example, Transactions made on trains, ships, some in-flight purchases and tollbooths). We accept no liability if a Merchant refuses to accept payment using the Card.
5.10 We do not recommend using a Virtual Card to purchase an item over the internet that subsequently would require the presentation of a physical reference device in order to obtain that item. Examples include certain theatre ticket purchases, hotel stays, car rentals, and online purchases picked up in person.
5.11 You must not use the Card for any illegal purposes.
6 Authorising Card Transactions
6.1 You will need to give your consent to each Transaction so that we can check it is genuine by, where applicable, a) using your PIN or other security code personal to you; b) providing the Card details and/or providing any other details personal to you and/or your Card. Once you have given such consent to the Transaction, it will be deemed to be authorised.
6.2 The time of receipt of a Transaction order is when we receive it. If a Transaction order is received after 4pm on a Business Day then it will be deemed to have been received on the next Business day.
6.3 Once a Transaction has been authorised by you and received by us, it cannot be revoked.
6.4 Where a Merchant’s payment service provider is located within the UK or EEA and the payment services being carried out are in the currency of an EEA Member State or the UK, we shall ensure the cash transfer to the Merchant’s payment service provider within 4 Business Days following the day on which the Transaction order is received.
6.5 Certain Merchants may not accept payments made through the Card and we accept no liability for this: it is your responsibility to check the restrictions of each Merchant.
6.6 Your ability to use or access the Card may occasionally be interrupted, for example if we need to carry out maintenance on our systems or websites. Please contact Customer Services to notify us of any problems you are experiencing using your Card and we will try to resolve these as soon as possible.
7. Additional Cards
7.1 At our sole discretion and provided we have received sufficient KYC information/documents (in accordance with condition 5.2), you may be eligible to apply for an Additional Card for use by an Additional Cardholder by contacting Customer Services or accessing the relevant area in your Online Account.
7.2 Additional Cardholders must be at least 18 years old or, provided that you are legally responsible for them, at least 13 years old. Transactions by persons under 18 years of age may not be allowed by some Merchants but in all cases, you shall be responsible for any use of any Additional Cards by such persons. We may request KYC for each Additional Cardholder as required.
7.3 If your Additional Card application is successful, we will send you an Additional Card, which will be subject to a Fee and which you may give to the nominated Additional Cardholder for their exclusive use, provided that:
7.3.1 you provide the Additional Cardholder with a copy of these terms and conditions (which will then bind use by both of you);
7.3.2 the Additional Card is used only by that Additional Cardholder;
7.3.3 you retain the Primary Card for your sole and exclusive use in accordance with this Cardholder Agreement;
7.3.4 all Transactions made on the Additional Card shall be considered as having been authorised directly by the Primary Cardholder, who shall be responsible for such Transactions and any applicable Fees.
7.4 Additional Cards will be connected to the same Account as the Primary Card. Funds may only be added to the Account by the Primary Cardholder.
7.5 You must ensure that any Additional Cardholders under 18 years of age do not use a Card for any purpose for which the minimum age is at least 18 e.g. purchase of alcohol, adult entertainment or gambling.
7.6 Additional Cards can be issued only to EEA citizens.
8. Managing & Protecting Your Card
8.1 You can retrieve your PIN from your BulPay Portalwhen you activate your Card. You will need this PIN in order to make cash withdrawals from an ATM (permitted for Physical Cards only).
8.2 If you forget your PIN, you can retrieve a reminder from your BulPay Portal.
8.3 When ordering a Primary Card, you will be prompted to create a Username and Password. You will need this Username and Password to access your BulPay Portal and to perform the following functions (as well as any other functions which may be added from time to time) in relation to your Card online:
8.3.1 change your telephone number;
8.3.2 check your Available Balance;
8.3.3 check your Transaction Details; and
8.3.4 change your Password.
8.4 Other than in relation to an Additional Cardholder, you must not give your Card to any other person or allow any other person to use it.
8.5 You are responsible for your Card, PIN, Username and Password, BulPayPortal and any related security details (“Security Details”) and must take all possible measures to keep them safe and entirely confidential. Such measures include (but are not limited to):
8.5.1 memorising your PIN as soon as you retrieve it;
8.5.2 never writing your PIN on your Card or on anything you usually keep with your Card;
8.5.3 keeping your PIN secret at all times for example, by not using your PIN if anyone else is watching.
8.6 Failure to comply with this condition 8 may affect your ability to claim any losses in the event that we can show that you have intentionally failed to keep the information safe or you have acted fraudulently, with undue delay or with gross negligence. In all other circumstances, your maximum liability shall be as set out below at condition 13.4.
8.7 If you believe that someone else knows your BulPay Portal PIN or Security Details, you must notify us by contacting Customer Services immediately.
8.8 In the event that we suspect or believe that your Card may be subject to any fraud or security threats, we will notify you securely via telephone or email during which we will ask you to answer security questions.
8.9 Once your Card has expired or if it is found after you have reported it as lost or stolen you must destroy it by cutting it in two through the magnetic strip.
9. Cancellation
9.1 If you have ordered your Card online, you may cancel it free of charge before activating and using it, and up to 14 calendar days after the date of activation (the Cancellation Period) by writing to Customer Services. This does not apply to replacement Cards where the cancellation period for the original Card has expired.
9.2 You may also terminate your Card at any time by contacting Customer Services.
9.3 Once your Card has been cancelled, it will be your responsibility to destroy your Physical Card(s).
10. 3D Secure
10.1 In order to help reduce fraud and provide extra security for your payments, you will be required to use the 3D Secure service (also known as ‘Mastercard SecureCode’, ‘Identity Check’) (“3DS Service”) when making online payments .
10.1.1 You must keep your security information (including your 3DS One Time Passwords) safe and confidential at all times.
10.1.2 If you think someone may be accessing your Account or the 3DS Service without your authority you must notify us immediately.
10.2 Use of your Information
10.2.1 We may use the data you supply to us in relation to the 3DS Service to administer the service.
10.2.2 We will not share your information with online retailers; however, details may be supplied to third parties if this is required for a legal or regulatory reason.
10.2.3 You must keep your information up to date at all times. If there is a change to your personal details, you must notify us immediately by contacting our customer service by calling the number on the back of your card (your network provider may charge a fee to call this number) or by updating your personal details in the BulPay.
10.2.4 We will manage and protect your personal data in accordance with all applicable data protection laws. For full and comprehensive information about when and why we collect personal information about you, how we use it and the conditions under which we may disclose it, please refer to our Privacy Policy which is provided to you at the time we collect your Personal Data and which can be found in the BulPay.
10.3 Changes to the 3DS Service
10.3.1 We may make changes to the 3DS Service in order to update or improve it or to reflect requirements imposed by us by any party which assists us in providing the 3DS Service.
10.3.2 We may make changes with immediate effect if required to do so by any law or regulatory requirement affecting us.
10.4 Suspension or Termination of the 3DS Service
We may suspend, restrict use or terminate the 3DS Service where:
- There is a breach of security;
- There is a legal or regulatory requirement to do so;
In exceptional circumstances if we are required to do so by Mastercard International or any third party which assists us in providing the 3DS Service.
10.5 Liability
10.5.1 Unless you are a victim of fraud, you may be responsible for all transactions carried out and verified with your 3DS One Time Passwords.
10.5.2 We shall not be liable for any failures of the 3DS Service caused by any systems failing or other events which we cannot reasonably control.
11. Expiry
11.1 This Cardholder Agreement shall terminate on the Expiry Date unless you are issued with a replacement card.
12. Termination or Suspension of your Card
12.1 When this Cardholder Agreement is terminated, your Account is closed. We may terminate this Cardholder Agreement at any time by giving you two months’ advance notice (which will be sent to the email address that you have provided to us).
12.2 We can suspend your Card/ Account, restrict its functionality or terminate this Cardholder Agreement at any time with immediate effect if:
12.2.1 you haven’t given us the information we need or we believe that any of the information that you have provided to us was incorrect or false; or
12.2.2 a Transaction has been declined because of a lack of Available Balance or you do not repay money that you owe to us; or
12.2.3 you fail to provide the Personal Data necessary for us to comply with our legal obligations and to fulfil this Cardholder Agreement; or
12.2.4 we reasonably suspect that the security of the Card has been compromised or that you, or any third party, have used, or intend to use the Card in a grossly negligent manner or for fraudulent or other unlawful purposes; or
12.2.5 we believe that your use of the Card may result in harm to us or our systems; or
12.2.6 your agreement with Modulr under Section 1 of this Agreement has been suspended, restricted or terminated; or
12.2.7 we believe that your continued use of the Card may damage our reputation; or
12.2.8 you become bankrupt; or
12.2.9 we are required to do so under Applicable Law or where we believe that continued operation of the Program may be in breach of Applicable Law; or
12.2.10 you do not access your Account for 3 years; or
12.2.11 we cannot process some or all of your Transactions due to the actions of third parties; or
12.2.12 you have breached this Cardholder Agreement.
24.3 In the event that we do suspend or terminate your Card then, where lawfully permitted, we shall notify you in advance or as soon as possible afterwards. We may advise anyone involved in the Transaction if a suspension has taken place.
13.1 Unless or until you or we terminate this Cardholder Agreement, this Cardholder Agreement will remain in force.
14. Loss or Theft of your Card.
14.1 You are responsible for protecting your Card as if it were cash in your wallet.
14.2 You must contact us without delay by calling us on +359 (0) 877 109099 or reporting your card lost/stolen within the BulPay Portal. if you know or suspect that a Card is lost, stolen, misappropriated or subject to unauthorised use or that the PIN or any Card related security details is known to an unauthorised person or you think that a Transaction has been incorrectly executed.
14.3 You shall be liable for up to a maximum of €50 of losses due to unauthorised Transactions made before you informed us about the theft, loss or misappropriation of the Card. If our investigations reveal that you authorised a disputed Transaction or that you acted fraudulently or that you negligently or with intent breached the terms of this Cardholder Agreement (for example, by not keeping your Security Details or Card safe), you may be liable for any loss we suffer due to use of the Security Details or Card.
14.4 Once a loss, theft or unauthorised use of your Card is reported, use of the Card shall be blocked to avoid further losses.
14.5 Replacement Cards will be sent to the most recent address you have provided and will be subject to a Fee.
14.6 You agree to cooperate with our agents, any supervisory authority, the police and us if your Card is lost, stolen or if we suspect fraudulent use of the Card.
14.7 In the event that you inform us of an unauthorised or incorrectly executed Transaction without undue delay, and in any event no later than 13 months after the debit date, we will refund the amount immediately unless we have any reason to believe that the incident may have been caused by a breach of this Cardholder Agreement, through gross negligence or we have reasonable grounds to suspect fraud.
14.8 In the event of a non-executed or defectively executed Transaction, we will make immediate efforts to trace the Transaction and will notify you of the outcome. We will not charge you for such efforts. In the event that we are liable for such Transaction, we will refund the amount, together with the amount of any resulting charges to which you may be subject, without undue delay.
14.9 In the event that a Transaction that was executed within the EEA or the UK arrived later than it should have according to the terms of this Cardholder Agreement, you may request that we contact the receiving payment institution to ask them to treat it as if it was made on time.
14.10 In the event that a Transaction is made which is initiated by a Payee, we will provide a refund of that amount, subject to clause 14311, only in circumstances where you can prove that:
(i) the exact Transaction amount was not specified when you authorised the payment; and
(ii) the amount of the Transaction exceeds the amount that you could have reasonably expected, taking into account your previous spending pattern, the terms of this Cardholder Agreement and the relevant circumstances of the case.
14.11 The refund referred to in 13.10 will not be provided if:
(i) the amount relates to currency exchange fluctuations; or
(ii) you have given your consent to execute the Transaction directly to us; or
(iii) information on the Transaction was provided or made available in an agreed manner to you at least 4 weeks prior to the due date of the Transaction; or
(iv) you request the refund from us later than 8 weeks from the date on which it was debited.
15.Payment Disputes
15.1 If you dispute a Transaction that you have authorised and which has been processed on your Card, you should settle this with the person you bought the goods or services from; we are not responsible for the quality, safety, legality or any other aspect of goods or services purchased with your Card.
15.2 If your dispute with a Merchant relating to a Transaction cannot be resolved you should contact us at Customer Services, and we will attempt to assist you as far as is reasonably practicable.
15.3 If you have reason to believe that a Transaction was carried out without your consent or in error, you may ask us to investigate the Transaction. If we investigate the Transaction, the disputed amount will be unavailable to spend until our investigation is complete and if we receive information that proves the Transaction was genuine, this will be deducted from your Available Balance and we may charge you an investigation fee. If you do not have sufficient Available Balance, you must repay us the amount immediately on demand.
16. Foreign Exchange
16.1 If you use your Card in a currency other than the currency in which your Card is denominated (“Foreign Currency Transaction”), the amount deducted from your Available Balance will be the amount of the Foreign Currency Transaction converted to your Card currency using a rate set by the Scheme on the date the Transaction is authorised.
16.2 You may also be charged a foreign exchange Fee as set out in the Fees & Limits Schedule. In order to allow you to compare charges for currency conversion, you can view the real-time percentage difference between the amount that will be charged on your Card for a Foreign Currency Transaction (consisting of the mark-up applied by the Scheme as well as any other charges) and the latest available euro foreign exchange reference rates issued by the European Central Bank. You can view this information on the BulPay Portal prior to making a Foreign Currency Transaction. This information will also be sent to you by push notification after making a relevant Foreign Currency Transaction, where required by Applicable Law. You are able to opt out of receiving this notification in the card setting section on the BulPay portal.
17. Our Liability
17.1 We shall not be liable for any loss arising:
(ii)from any default resulting directly or indirectly from any cause beyond our control, including but not limited to, a lack of funds and/or failure of network services at ATMs, maximum withdrawal limits set by ATM operators and failure of data processing systems; or
(v)from any loss of profits, loss of business, or any indirect, consequential, special or punitive losses; or
(vi)from any use of this Card that is contrary to this Cardholder Agreement; or
(vii)for goods or services that are purchased with the Card; or
(viii)for any damages due to loss, fraud or theft that you have reported to us 13 months after the event.
17.2 We will not be liable to you if your contact details have changed and you have not told us.
17.3 Where the Card is faulty due to our default, our liability shall be limited to replacement of the Card.
17.4 Where sums are incorrectly deducted from your Available Balance due to our default, our liability shall be limited to payment to you of an equivalent amount.
17.5 Nothing in this Cardholder Agreement shall exclude or limit our liability for death or personal injury resulting from our negligence or fraud.
17.6 To the extent permitted by law, all conditions or warranties implied by law, statute or otherwise are expressly excluded.
17.7 The above exclusions and limitations set out in this paragraph shall apply to any liability of our affiliates such as the Schemes, and other suppliers, contractors, distributors and any of their respective affiliates (if any), to you, which may arise in connection with this Cardholder Agreement.
17.8 For all other matters not expressly covered in this condition 17, and to the extent permitted by applicable law, our total aggregate liability shall be limited to the total amount of money that you have spent using your Card over the 12-month period prior to the claim.
18. Complaints
18.1 Should you wish to make a complaint about your Card, you may contact Customer Service support@BulPay.eu to submit details of such complaint.
18.2 Upon our receipt of your emailed complaint, we shall endeavour to respond to you as quickly as possible but in any event we shall reply to you by return email within 15 Business Days.
18.3 If, having received a response from our Customer Services team, you are unhappy with the outcome, you can escalate your complaint to TPML’s Complaints Department by writing to complaints@transactpaymentslimited.com
18.4 If TPML’s Complaints Department is unable to respond to your complaint immediately, you will receive confirmation that your complaint has been received and a formal investigation will be conducted. You will receive a formal response of their findings within 35 Business Days of receipt of your complaint.
18.5 We will make every effort to reach a resolution to your complaint and will fully explain the reasoning behind our decision.
18.6 In the unlikely event that we are unable to resolve your issue to your satisfaction you have the right to refer your complaint to the Office of the Arbiter for Financial Services, 1st Floor, St Calcedonius Square, Floriana FRN 1530, Malta (Telephone+ 356 21249245, Website: https://financialarbiter.org.mt)
19. General Communication
19.1 Any communication from us to you will be given by notification on the BulPay Portal and/or by email (using the latest contact details with which you have provided us).
19.2 You may contact us via Customer Service, the details of which are set out in clause 1.
20 Personal Data
20.1 TPML is the Data Controller of your Personal Data associated with the application for and use of this Card only and will collect certain information about the purchaser and the users of the Card in order to operate the Card program. Your provision of your Personal Data and our processing of that data is necessary for each of us to carry out our obligations under this Cardholder Agreement. At times, the processing may be necessary so that we can take certain steps, at your request, prior to entering into this Cardholder Agreement. If you fail to provide the personal data which we request, we will take steps to terminate this Cardholder Agreement in accordance with clause 12.2 (iii) above.
20.2 We will manage and protect your personal data in accordance with all applicable data protection laws. For full and comprehensive information about when and why we collect personal information about you, how we use it, the conditions under which we may disclose it and how we keep it secure, please refer to our Privacy Policy which is provided to you at the time we collect your personal data.
21. Changes to the Terms and Conditions
21.1 We may update or amend this Cardholder Agreement at any time on at least 2 months’ advance notice, which shall be given, by e-mail (using the latest contact details you have provided us with).
21.2 If you do not agree with the changes to the Cardholder Agreement, you may at any time within the 2-month notice period terminate your Cardholder Agreement in accordance with condition 9 You will be deemed to have accepted any change to this Cardholder Agreement unless you notify us before the proposed date of the change.
21.3 If any part of this Cardholder Agreement is inconsistent with any regulatory requirements then we will not rely on that part but treat it as if it did actually reflect the relevant regulatory requirement. If we need to make operational changes before we can fully comply with the new regulatory requirement, we will make those changes as soon as reasonably practical.
22. Language
The English language version of this Cardholder Agreement and of any communications and Website content will prevail over any other language version which we may issue from time to time.
23. Governing Law
This Cardholder Agreement is governed by Malta law.
24. Jurisdiction
You agree to the non-exclusive jurisdiction of the courts of Malta.
25. Miscellaneous
25.1 Any delay or failure to exercise any right or remedy under this Cardholder Agreement by us shall not be construed as a waiver of that right or remedy or preclude its exercise at any subsequent time.
25.2 The Card is a payment service product and not a deposit or credit or banking product and, as such is not governed by the Deposit Security Scheme of Malta. Please refer to clause 15.7 of Section 1 in relation to the safeguarding of your funds.
25.3 If any provision of this Cardholder Agreement is deemed unenforceable or illegal, the remaining provisions will continue in full force and effect.
25.4 You may not assign or transfer any of your rights and/or benefits under this Cardholder Agreement and you shall be the sole party to the contract between us. You will remain liable until all Cards issued to you are cancelled or have expired and all sums due under this Cardholder Agreement have been paid by you in full. We may assign our rights and benefits under this Cardholder Agreement to a third party and may subcontract any of our obligations under this Cardholder Agreement.
Section 4: Fees and Limits Schedule
EEA Residents
UK Residents
Card & Account Issuing Fees
IBAN ordering: GBIBAN (sort / acct number)
FREE
FREE
Virtual Card Order Fee
1= €1.00
2-5 = €10.00
1=£1.00
2-5 = £10.00
Plastic Card Order Fee (Max 2 Cards per Account)
€ 10.00
£ 10.00
Monthly Service charge (Physical & Virtual Cards)
€2.00 per card
£2.00 per card
Card lost/stolen replacement
€9.99
£9.99
Card Transaction Fees
ATM Withdrawal
€ 2.99
£2.99
POS
FREE
FREE
ATM Balance enquiry
€ 0.50
£0.50
ATM Decline
€ 0.50
£0.50
POS Decline
€ 0.50
£0.50
Foreign Exchange Charge
3%
3%
3D Secure fee per transaction
FREE
FREE
Card to Card Transfer
€ 1.50
£1.50
Wallet Transaction Fees
First Time Wallet Load Fee (Account creation fee) for EUR or GBP wallet
€ 19.99
£19.99
Wallet (Card) load by Bank Transfer
€ 5.99
£5.99
Wallet to Wallet Transfer
€ 1.50
£ 1.50
Wire transfer from wallet to bank within SEPA region
€ 5.99
£ 5.99
Miscellaneous Fees
Account closure balance return (Capped at £10/€10)
3%
3%
One-off Account Dormancy Fee (applies after 3 months of no usage)
€ 9.99
£ 9.99
Limits
Maximum total card balance at any 1 time
€/£10000
Wallet (card) load value
Max per year:
Max per month:
Min per load:
Max per load:
€/£ 30,000
€/£ 10,000
€/£ 10
€/£ 2000
ATM Withdrawals
Max per day:
Max no.per day:
€/£ 300
2
POS Transactions
Max per month:
Max per day:
Max no.per day:
€/£ 6,000
€/£ 1,500
20
Wallet to Wallet (Card to Card)
Min per transfer:
€/£ 10
BulPay Terms & Conditions
About our Terms
This Account and Cardholder Agreement (“Agreement”) is made up of four Sections:
Section 1 – The terms and conditions governing the BulPay Account which are between you and Modulr FS Europe Limited.
Section 2 – The terms and conditions governing the BulPay Prepaid Mastercard which are between you and Transact Payments Malta Limited. You have entered into these terms and conditions if you are resident in the European Economic Area
Section 3 – The terms and conditions governing the BulPay Prepaid Mastercard which are between you and Transact Payments Limited.You have entered into these terms and conditions if you are resident in the United Kingdom.
Section 4 – The Fees and Limits Schedule
Section 1
Account Terms & Conditions
The BulPay Account Terms and Conditions; Important information you need to know
The BulPay Account Terms and Conditions
Please read these Terms and Conditions carefully before you agree to use an Account or any related services provided by or through us.
These Terms and Conditions, together with the Introduced Client Terms of Business and the Introduced Client Application Form constitute the entire agreement between Modulr, BulPay and you.
By signing the BulPay Account Terms and Conditions you accept the terms of the Agreement, or by agreeing to open an Account and/or using our services, you accept these Terms and Conditions. If there is anything you do not understand, please contact Customer Services using the contact details in the Introduced Client Application Form.
1. DEFINITIONS
Account - The electronic money account, also known as BulPay Account provided by us in accordance with these Terms and Conditions.Account Information Service Provider – means a third party payment service provider who is authorised by or registered with the Central Bank of Ireland or another European regulator to provide online account information services, who, with your permission will be able to access certain online account information on one or more payment accounts held by you to give you a consolidated view of your payment accounts.
Account Limits – any limit that applies in relation to your Account and/or Card, such as account maximum balance, and limits on receiving and sending payments from your Account as referred in paragraph 2.
Account Manager - The individuals elected by the Account Owner to be responsible for the management of the Account, also known as an “Authorised User”.
Account Owner – The entity legally responsible for an Account.
Agreement - The agreement for your Account made up of these Terms and Conditions, together with the Introduced Client Terms of Business and the Introduced Client Application Form, which constitute the entire agreement between you, BulPay and Modulr.
Application Programming Interface (API) – means the interfaces provided by BulPay to the Introduced Client (and the Partner Platform on the Introduced Client’s behalf) to directly instruct BulPay Accounts via the Introduced Client’s or the Partner Platform’s own application.
AML Policy - BulPay’s written policy on anti-money laundering and counter terrorist financing as may be amended from time to time by BulPay.
Applicant – A customer of the Partner Platform who applies for BulPay Products but is yet to be accepted by BulPay as an Introduced Client.
Available Balance - The value of funds available on your Account.
Bacs Credit – Means Bacs Direct Credit. A service enabling organisations to make payments to an account which takes 3 Business Days for the funds to be cleared.
Business Days - Monday to Friday between the hours of 9am-5pm but does not include bank holidays, or public holidays in the Republic of Ireland.
Commencement Date – the date set out in the Introduced Client Application Form.
Confidential Information - any information (whether or not recorded in documentary form, or stored on any magnetic or optical disk or memory) relating to: the business, products, affairs, strategy, contracts, customer relationships, commercial pipelines, business contacts, prospective customers, existing customers, business models, customer pricing, management systems, business methods, corporate plans, maturing new business opportunities, research and development projects, marketing and sales information, sales targets and statistics, discount structures, suppliers and potential suppliers, source codes, computer programs inventions, know-how, technical specifications and other technical information relating to products and services.
Customer Services - The contact centre for dealing with queries about your Account. Contact details for Customer Services can be found in the Introduced Client Application Form.
Data Protection Laws – means all laws relating to the processing of Personal Data, privacy and security, including, without limitation, the EU Data Protection Directive 95/46/EC, the Data Protection Acts, 1988 to 2018 (as may be amended from time to time), the European Communities (Electronic Communications Networks and Services) (Privacy and Electronic Communications) Regulations 2011 (S.I. No 336 of 2011) and the General Data Protection Regulations (EU) 2016/679 ("GDPR") together with equivalent legislation of any other applicable jurisdiction, delegated legislation of other national data protection legislation, and all other applicable law, regulations and approved codes of conduct, certifications, seals or marks in any relevant jurisdiction relating to the processing of personal data including the opinions, guidance, advice, directions, orders and codes of practice issued or approved by a supervisory authority or the European Data Protection Board;
Due Diligence Procedure - BulPay’s procedures for carrying out due diligence on Introduced Clients in order to comply with its policies and regulatory obligations.
Faster Payment - A service allowing you to make and receive electronic GBP payments in the which is received by the recipient bank within 2 hours provided that the receiving organisation or bank is part of Faster Payments Scheme.
Fees – those fees payable by the Introduced Client and set out in the Introduced Client Application Form.
Information – Means any information related to the organisation, and any personal information related to Account Manager or the Cardholder.
Intellectual Property Rights – means without limitation all patents (including models and inventions), trademarks, service marks, trade names, internet designations including domain names, business names, copyrights, design rights, database rights, rights to or in computer software, know-how, trade secrets, rights to or in confidential information and all other intellectual property rights and rights or forms of protection of a similar nature or effect which may subsist anywhere in the world whether or not registered or capable of registration, together with all applications for registration of, and any licence to use, any of the foregoing and "Intellectual Property" shall be construed accordingly;
Introduced Client Application Form – The application form identifying the parties, BulPay Products to be provided and commercial terms that forms part of the Agreement between an Introduced Client and BulPay.
Introduced Client – Any client of BulPay which has been introduced by the Partner Platform and whose account is operated by the Partner Platform based on instructions the Partner Platform receives from the Introduced Client (where relevant).
Introduced Client Terms of Business - The terms on which BulPay provides BulPay Products to the Introduced Client.
BulPay Account Terms and Conditions - This agreement, between Modulr and the Introduced Client which governs the terms on which the Introduced Client may use its Account.
BulPay Products – those products, including but not limited to the Account referred to in the Introduced Client Application Form.
One-Time Passcode – means the six-digit passcode sent to your mobile phone number by us, via SMS.
Online Portal – means the interface provided by BulPay for the Introduced Client to access via the public internet, subject to applicable based on the Introduced Client’s relationship with the Partner Platform and can be used for the management of accounts.
Payment Initiation Service Provider – means a third party payment service provider authorised by or registered with by the Central Bank of Ireland or another European regulator to provide an online service to initiate a Transaction at your request on your Account.
Partner Platform – A third party that is permitted by BulPay to introduce and act on behalf of Introduced Clients, and permitted by you to act as an Authorised User.
Partner Platform Agreement - an agreement between the Introduced Client and the Partner Platform for the provision of various services, under the terms of which the Introduced Client wishes to open an Account with BulPay to be used for the purpose and in accordance with the terms set out in the Partner Platform Agreement.
Regulator – the Central Bank of Ireland, located at New Wapping Street, North Wall Quay, Dublin 1, D01 F7X3 or any authority, body or person having, or who has had, responsibility for the supervision or regulation of any regulated activities or other financial services in the Republic of Ireland.
SEPA – Single Euro Payments Area scheme, which allows payments to be made in euros within the EEA.
SEPA Instant Payments - electronic retail payment solutions available 24/7/365 and resulting in the immediate or close-to-immediate interbank clearing of the transaction and crediting of the payee's account with confirmation to the payer (within seconds of payment initiation).
SEPA Credit Transfer (SEPA SCT) - a non-urgent euro payment debiting a euro account and crediting another euro account in the SEPA zone.
Transaction – any debit, credit or other adjustment to an Account that affects the balance of monies held in it, including a Card Transaction.
TPP (Third Party Provider) – means an Account Information Service Provider or a Payment Initiation Service Provider.
we, us,our or Modulr – Modulr FS Europe Limited (trading as ‘Modulr’), a company registered in Ireland with company number 638002
Website – means the customer portal that Introduced Clients can login to in order to use the BulPay Products.
you, your - The Account Owner, also referred to as an Introduced Client.
2. ACCOUNT LIMITS
2.1 Limits may apply to the balance on your Account at any time, the maximum value of an individual payment Transaction, the maximum aggregate value of all payment Transactions made from your Account in a particular time period e.g. during any one Business Day and the maximum number of payment Transactions made from your Account over a particular time frame.2.2 The limits and restrictions that apply to your Account will be communicated to you during the Account set-up process and/or before the Card is issued to you (as applicable). These limits may also change over time based on your Account; any such change will be communicated to you. You can check the limits at any time by contacting Customer Services. You should not make a payment Transaction request which exceeds such.
2.3 To manage our risk, particularly with respect to money laundering, fraud or security concerns, we also apply internal controls, including limits, to certain types of payment. We change these as necessary but for security purposes, we do not disclose them.
3. SCOPE OF THESE TERMS AND CONDITIONS
3.1 Your Account is an electronic money account (and therefore is not a traditional bank account) and the electronic money is issued to you by us. We are regulated by the Central Bank of Ireland for the issuance of electronic money. Your rights and obligations relating to the use of this Account are subject to these Terms and Conditions between you and us.3.2 The types of Transactions enabled for your Account are set out in the Introduced Client Application Form or as subsequently enabled by us. The terms of these BulPay Account Terms and Conditions applicable to specific Transactions or payment types (for example, Cards) apply only to the extent that such Transactions or payment types are enabled for your Account.
3.3 This Agreement is written and available only in English and we undertake to communicate with you in English regarding any aspect of your Account.
3.4 You agree that we or the Partner Platform may communicate with you by e-mail or telephone for issuing any notices or information about your Account and therefore it is important that you ensure you keep your e-mail address and mobile phone number updated.
3.5 You can request a copy of these Terms and Conditions at any time by contacting Customer Services.
3.6. By accepting these Terms and Conditions, you acknowledge that the Irish Deposit Guarantee Scheme or other government sponsored insurance does not apply to funds held in the Account.
4. OPENING YOUR ACCOUNT
4.1 Your Account will be opened on your behalf by the Partner Platform. You may only hold an Account so long as you remain an approved client of the Partner Platform that provided you with your account details.5. USING THE ACCOUNT
5.1 Your Account can receive bank transfers and other payment types as added and notified to you by BulPay from time to time. Subject to paragraph 5.3, we will credit your Account when we receive the funds which could be up to three Business Days after the payment being instructed, depending on how the payment was sent.5.2 Your Account can also receive internal transfers from other BulPay Accounts owned or controlled by the Partner Platform, which apply instantly.
5.3 An incoming payment will not be credited to your Account if:
5.3.1 the Account has reached the Account Maximum Balance or Account Limits; or
5.3.2 the Account is inactive or blocked or terminated; or
5.3.3 the sender has provided incorrect/invalid Account Details for your Account; or
5.3.4 We suspect the payment to be fraudulent.
5.4 If we are unable to credit your Account for any of the reasons in paragraph 5.3 then the funds may be sent back to the sender without a prior notification to you.
5.5 Your Account will be configured and operated by the Partner Platform. You agree that BulPay and we may take instructions from the Partner Platform regarding the operation of your Account, including the creation of beneficiaries and instruction of payments, on your behalf. We and BulPay have no liability for actions taken by the Partner Platform. If you disagree with any actions taken by the Partner Platform these should be discussed with the Partner Platform. We are also authorised to take instructions from any other Account Manager (where different from Partner Platform) and, with respect to Physical Card Transactions, from the Cardholder. You are responsible for all actions of the Account Manager and any Cardholder in relation to the Account and/or Card(s).
5.6 Your Account can make payments out to external bank accounts via SEPA, Faster Payments and other methods as added and notified to you by the Partner Platform from time to time.
6. THIRD PARTY ACCESS
6.1 You can instruct a TPP to access information on your Account or initiate certain Transactions from your Account provided such TPP has identified itself to us and it has acted in accordance with the relevant regulatory requirements. We will treat any instruction from an TPP as if it was from you or an Account Manager.6.2 We may deny TPP access to your Account if we are concerned about unauthorised or fraudulent access by that TPP. setting out the reason for such denial. Before doing so, we will tell you that we intend to deny access and give our reasons for doing so, unless it is not reasonably practicable, in which case we will immediately inform you afterwards. In either case, we will tell you in the manner in which we consider most appropriate in the circumstances. We will not tell you if doing so would compromise our security measures or would otherwise be unlawful.
6.3 If you have provided consent to a TPP to access the data in your Account to enable them to provide account information services to you or initiate Transactions on your behalf, you consent to us sharing your information with the TPP as is reasonably required for them to provide their services to you. You must let us know if you withdraw this permission and we recommend you let the TPP know. On notification from you, we will not provide such TPP access to your Account or the data in it.
7. CLOSING YOUR ACCOUNT
7.1 You may close your Account by contacting Customer Services. Please refer to your contract with the Partner Platform for any terms relating to your need to maintain your Account.7.2 The Account will be closed if the Partner Platform instructs us to close your Account (in which case the Partner Platform will inform you of this instruction).
7.3 On termination of the Agreement for any reason, these Terms and Conditions will automatically terminate, and your Account will be closed.
7.4 Any Available Balance remaining on the Account after Account closure will be transferred to your nominated bank account via SEPA based on instructions to us from the Partner Platform. If for any reason this is not possible, such Available Balance will remain yours and you may at any time request a refund by contacting Customer Services. You will not have any access to your Account from the date of Account closure and this Agreement will terminate.
8. YOUR LIABILITY AND AUTHORISATIONS
8.1 You are responsible for understanding and complying with the Agreement including these Terms and Conditions.8.2 We may at any time suspend, restrict or refuse to authorise any use of your Account, or refuse to process your instructions or authorise any particular Transaction where:
8.2.1 we are concerned about the security of or access to your Account;
8.2.2 we know or suspect that that your Account is being used in an unauthorised or fraudulent manner;
8.2.3 we need to do so in order to comply with the law or otherwise for regulatory or crime prevention purposes;
8.2.4the Transaction would breach the limits applicable to your Account;
8.2.5 you, the Account Manager breach an important part of these Terms and Conditions, or repeatedly breach any term in this Agreement and fail to resolve the matter in a timely manner.
8.3 If we cancel, suspend or restrict your Account, or otherwise refuse to execute a payment order to or to initiate a Transaction, we will, without undue delay and provided we are legally permitted to do so, notify you or the Partner Platform of the refusal, suspension or cancellation (as applicable). If possible, we will provide the reasons for the refusal to execute the Transaction and/or suspending the use of your Account and where those reasons relate to factual matters, the procedure of rectifying any factual errors that led to the refusal.
8.4 You, the Account Manager must not:
8.4.1 allow another person to use security information related to the Account,
8.4.2 write down password(s) or any security information unless this is done in a way that would make it impossible for anyone else to recognise any of that information, or
8.4.3 disclose passwords or any security information, or otherwise make them available to any other person, whether verbally or by entering them in a way that allows them to be observed by others.
8.5 You must take all reasonable steps to keep your Account and password(s) and any other security-related details safe at all times. If you visit a website or receive a message that asks for your password, other than the BulPay website, this should be reported to us. If you are in doubt whether a website is genuine, you should contact Customer Services. If you have any indication that your Account, password or other security information has been compromised, you must immediately change your password and notify us as soon as possible.
8.6 In the event that a Transaction was not authorised by you, your Account Manager or by a TPP on your behalf, we will refund the amount of the Transaction to the you immediately and in any event not later than the end of the Business Day immediately following notification of the unauthorised Transaction and your maximum liability in respect of the Transaction will be €50.
8.6.1 8.6 will not apply and you will bear all losses and liability for:
8.6.2 all Transactions that take place as a result of you or the Account Manager acting fraudulently or failing to comply with these Terms and Conditions with intent or gross negligence. Any such Transactions and any fees and charges relating to such Transactions will be deducted from the Available Balance on your Account.
8.6.3 all Transactions that the Partner Platform or any other Account Manager makes on your behalf as per this Agreement, along with those made by a TPP authorised by you to initiate a Transaction.
8.7 It is your responsibility to keep us updated of changes to your Information, including e-mail address and mobile numbers. Failure to do so may result in us being unable to contact you regarding your Account or to let you know about changes to these Terms and Conditions.
8.8 If you request to recall a Transaction due to an error or mistake caused other than by BulPay, we reserve the right to charge you (i) a handling fee of €25 per recall and (ii) any fee payable by BulPay to a third-party bank or institution for handling the recall.
8.9 You agree to indemnify and hold harmless, us, BulPay and our distributors, partners, agents, sponsors, and service providers and their group companies from and against the costs of any legal action taken to enforce this Agreement, including these Terms and Conditions and/or any breach of these Terms and Conditions by you.
9. DISPUTES AND INCORRECT TRANSACTIONS
9.1 If you (or an Account Manager) have a reason to believe that (i) a Transaction on your Account was unauthorised or was made incorrectly, (ii) someone else (other than TPP) knows the security credentials or otherwise has unauthorised access to your Account, you must inform us immediately by contacting Customer Services. After you notify us, we will replace security credentials, as appropriate.9.2 We will investigate your claim for a refund of unauthorised or incorrectly executed Transactions, provided at all times that you have notified us without undue delay of becoming aware of such incorrectly executed or unauthorised Transaction and in any case within the timeframes required within 13 months of the date of the relevant Transaction. We will not be liable for any unauthorised or incorrectly executed Transactions notified to us after this period.
9.3 If you dispute a Transaction:
9.3.1 subject to 9.2.2 and 9.2.3 we will immediately refund the amount to your Account to the position it would have been in if the unauthorised Transaction had not taken place. We will have no further liability to you. If we subsequently discover that you were not entitled to a refund, we shall treat the refund as a mistake and be entitled to reapply the Transaction;
9.3.2 if there are reasonable grounds for thinking that you may not be entitled to a refund (based on the evidence available to us at the time you report the unauthorised Transaction), we may investigate before giving you a refund and we will provide you with our supporting evidence if we believe you are not entitled to the refund; and
9.3.3 if the Transaction was initiated through a TPP, it is for the TPP to prove that the Transaction was authenticated, accurately recorded and not affected by a technical breakdown or other deficiency linked to the TPP’s payment initiation service.
9.4. If an incorrect Transaction is paid into your Account that should not have, we will, where possible, immediately send the funds back to the bank acting for the person from whose account the Transaction was made. In such circumstances you agree to return the funds to us and provide such assistance that we require in recovering the amount from you. If we cannot recover the funds, we are required to provide sufficient details about you and the incorrect payment to the bank or institution that sent the payment to enable them to recover the funds.
9.5 You will be liable for all Transactions made from your Account if you (or the Account Manager) have acted fraudulently or have failed with gross negligence:
9.5.1 to keep the security credentials used to access or use your Account safe and secure or otherwise failed to comply with these Terms and Conditions in relation to the safety of your Account or
9.5.2 failed to notify us in accordance with 9.1 above.
9.6 You may be entitled to a refund where a Transaction from your account which was initiated by payee provided that:
9.6.1 the authorisation did not specify the exact amount;
9.6.2 the amount of Transaction exceeded the amount you could reasonably have expected (taking into your previous spending pattern and other relevant circumstances). We may ask you to provide such information as is reasonably necessary for us to determine if this is correct; and
9.6.3 you asked for a refund within 8 weeks of the date the Transaction was debited to your Account. In such circumstances we will refund you within 10 Business Days of receiving your claim for a refund or, where applicable, within 10 Business Days of receiving any further information we requested - or we will provide you with reasons for refusing the refund.
10. VARIATION
10.1 We may change these Terms and Conditions by providing you with at least two months’ prior notice by e-mail (provided you have supplied us with an up-to-date e-mail address).10.2 If you do not agree with the changes to the Terms and Conditions, you may at any time within the two months’ notice period notify us and these Terms and Conditions will be terminated and your Account closed free of charge. If you do not notify us to the contrary during this period then you will be deemed to have accepted the change and it will apply to you when it comes into force.
10.3 If any part of these Terms and Conditions are inconsistent with any legal requirements then we will not rely on that part but treat it as if it did actually reflect the relevant legal requirement. If we need to make operational changes before we can fully comply with the new regulatory requirement, we will make those changes as soon as reasonably practical.
11. TERMINATION OR SUSPENSION
11.1 We can terminate your Account at any time if we give you two months’ notice and transfer any Available Balance at the time to your nominated bank account without a charge, or11.2 We can suspend or terminate your Account at any time with immediate effect (and until your default has been remedied or the Agreement terminated) without any prior notice to you if:
11.2.1 we discover any of the Information that we hold for you is false, misleading or materially incorrect; or
11.2.2 if you, the Account Manager or a third party has engaged in fraudulent activity, money laundering, terrorism, terrorism financing or other illegal activity in connection with your Account or we have reasonable suspicions in respect of same; or
11.2.3 if you have reached your Account Limit; or
11.2.4 you or the Account Manager have breached these Terms and Conditions; or
11.2.5 we are required to do so under any applicable law or regulation or at the direction of any regulatory, law enforcement or other competent authority.
11.3 In the event that we do suspend or terminate your Account then if we are able to do so, we will tell you in advance otherwise we will let you know immediately afterwards (to the extent we are permitted by law).
12. OUR LIABILITY
12.1 Our liability in connection with this these Terms and Conditions (whether arising in contract, tort (including negligence), breach of statutory duty or otherwise) shall be subject to the following exclusions and limitations:12.1.1 We shall not be liable for any default resulting directly or indirectly from any cause beyond our control, including but not limited to, a lack of funds;
12.1.2 We shall not be liable for any loss of profits, loss of business, or any indirect, consequential, special or punitive losses;
12.1.3 where sums are incorrectly deducted from your Available Balance due to our default, our liability shall be limited to payment to you of an equivalent amount to that which was incorrectly deducted from your Available Balance;
12.1.4 in all other circumstances of our default, our liability will be limited to transferring any Available Balance to your nominated bank account.
12.2 In circumstances where sums are incorrectly deducted from your Available Balance due to our fault, if we require your support to enable us to recover the incorrect deduction, you agree to provide us with all assistance that we reasonably require.
12.3 Nothing in these Terms and Conditions shall exclude or limit our liability for death or personal injury resulting from our negligence or fraud.
12.4 To the extent permitted by law, all conditions or warranties implied by law, statute or otherwise are expressly excluded.
12.5 The above exclusions and limitations set out in this paragraph shall apply to any liability of our affiliates and other suppliers, contractors, agents or distributors and any of their respective affiliates (if any), to you, which may arise in connection with these Terms and Conditions.
13. YOUR INFORMATION
13.1 Some personal data will be necessary for us to provide you with the Account and services under this Agreement. BulPay is a Data Controller and shall only use your personal data for this purpose. Please see the Privacy Policy (please contact Customer Services for details of where to access this) for full details on the personal data that we hold, how we will use it and how we will keep it safe. BulPay will at all times comply with Data Protection Laws.13.2 We will retain details of individual transactions for six years from the date on which the particular transaction was completed. We will maintain all other records for six years from which we have ceased to provide you with any product or service.
13.3 You must update any changes to your Information by contacting Customer Services.
13.4 If we discover that the Information we hold about you is incorrect, we may have to suspend or cancel your Account until we can establish the correct Information, in order to protect us both.
13.5 If you or the Account Manager allow or give consent to an Authorised Third Party Provider to access your Account to provide their services, you should know that we have no control over how an Authorised Third Party Provider will use your information nor will we be liable for any loss of information after an Authorised Third Party Provider have access to your information.
14. COMPLAINTS PROCEDURE
14.1 Complaints regarding any element of the service provided by us can be sent to Customer Services.
14.2 All complaints will be subject to our complaints procedure. We will provide you with a copy of our complaints procedure upon request and, if we receive a complaint from you, a copy of our complaints procedure will automatically be posted or emailed to you.
14.3 In most cases we will provide a full response by email to your complaint within fifteen Business Days after the date we receive your complaint. In exceptional circumstances where we are unable to respond in full to your complaint, we will inform you of this giving our reasons for the delay and the timeframe within which you will receive a full reply, which in any event shall be within thirty-five days of the date we received your complaint.
14.4 If we fail to resolve your complaint to your satisfaction you may refer your complaint to the Financial Services and Pensions Ombudsman, Lincoln House, Lincoln Place, Dublin 2, D02 VH29 (phone (01) 567 7000). Details of the service offered by the Financial Services and Pensions Ombudsman are available at www.fspo.ie.
15. GENERAL
15.1 Any delay or failure to exercise any right or remedy under these Terms and Conditions by us shall not be construed as a waiver of that right or remedy or preclude its exercise at any subsequent time.
15.2 If any provision of these Terms and Conditions is deemed unenforceable or illegal, the remaining provisions will continue in full force and effect.
15.3 You may not assign or transfer any of your rights and/or benefits under these Terms and Conditions and you shall be the sole party to the contract between us. You will remain liable until the Account issued to you is terminated. We may assign our rights and benefits at any time without prior written notice to you. We may subcontract any of our obligations under these Terms and Conditions.
15.4 No third party who is not a party to these Terms and Conditions has a right to enforce any of the provisions in these Terms and Conditions.
15.5 These Terms and Conditions contain the information set out in Part 3 of the European Union (Payment Services) Regulations 2018 (the PSRs) and you can obtain a copy of this Agreement at any time by contacting Customer Services.
15.6 These Terms and Conditions are governed by Irish law and you agree to the exclusive jurisdiction of the courts of Ireland.
15.7 This Account is not covered by a compensation scheme. As a responsible e-money issuer, we will ensure that once we have received your funds they are deposited in a secure account, specifically for the purpose of redeeming Transactions made from your Account and will be safeguarded in accordance with our obligations under the European Communities (Electronic Money) Regulations 2011. In the event that we become insolvent funds that you have loaded which have arrived with and been deposited by us are protected against the claims made by our creditors.
16. CONTACTING CUSTOMER SERVICES
16.1 Customer Services are provided by the Partner Platform. The details are available in your Introduced Client Application Form.
Section 2: Cardholder Terms and Conditions
This section 2 comprises the terms and conditions governing the BulPay Prepaid Mastercard which are between you and Transact Payments Malta Limited. You have entered into these terms and conditions if you are resident in the European Economic Area
IMPORTANT INFORMATION:Please read this Cardholder Agreement carefully before activating your Account. This Cardholder Agreement becomes effective and binding on you upon your activation or use of your Card and for the entire period of validity of your Card.
1 Definitions & Interpretation:| Account | The electronic money account provided by Modulr FS Europe Limited associated with your Card and opened in accordance with Section 1 of this Cardholder Agreement. | |
| Additional Card | A person who you have authorised to hold an Additional Card. | |
| Cardholder Agreement | These terms and conditions relating to the use of your Card(s) as amended from time to time. | |
| Applicable Law | any applicable law (including but not limited to, any local law of the jurisdictions into which the Card is provided and the Program is operated), statute, statutory instrument, act, regulation, rule, order, supervisory guidance, policy, instruction or requirement stipulated by an applicable Regulatory Authority, or interpretation promulgated or published by any Regulatory Authority, any order issued by a court having jurisdiction over a party, or any applicable rule or requirement of any Card Scheme related to the issuance, sale, authorisation or usage of the Card and/or services to be provided under this Cardholder Agreement or such other rule as deemed valid by TPML from time to time. | |
| Available Balance | The value of unspent funds on your Account and available for your use. | |
| Business Day | Monday to Friday, 8am to 5pm CET, excluding bank and public holidays in Bulgaria.. | |
| BulPay Portal | The BulPay web application that allows you to access your Account, perform Account-related activities and view Card and Transaction related information. | |
| Card | Any Card issued to you in accordance with this Cardholder Agreement. | |
| Customer Services | The contact centre for dealing with queries about your Card. You can contact Customer Services by:
calling +359 (0) 877109099 (your network provider may charge a fee for calling this number); e-mailing support@bulpay.eu from the email address registered to your Online Account; or writing to MT Group Ltd, 10 Gen. Stefan Toshev Str., Entr. B, Gl.1, Ap. 47, Stara Zagora, 6000, Bulgaria |
|
| ЕЕА | European Economic Area. | |
| Expiry Date | The expiry date showing on your Card. | |
| Fee | Any fee payable by you as referenced in the Fees & Limits Schedule | |
| Fees & Limits Schedule | The schedule contained in Section 4 of the Agreement. | |
| KYC | Means “Know Your Customer” and constitutes our verification of your Personal Details | |
| Merchant | A retailer or any other person that accepts e-money via the Card. | |
| Personal Data | The registered personal identity details relating to the use of your Card including (but not limited to) your: name, date of birth, home address, email address and telephone (landline and/or mobile) number. Full details of the Personal Data which we process are set out in our Privacy Policy. | |
| Physical Card | A physical/plastic Card that can be used to carry out Transactions. | |
| PIN | Personal Identification Number; that is, the security number provided for use with your Card. | |
| Primary Card | The first Card issued to you following your registration for a Card in accordance with this Cardholder Agreement. | |
| Primary Cardholder | The person who has been issued with the Primary Card and who is responsible for the use of all other Additional Cards in accordance with this Cardholder Agreement. | |
| Program Manager | Lerex Technology with registration number 09829039 and registered address Abacus House, Caxton Place, Cardiff, CF23 8HA. | |
| Regulatory Authority | as the context requires, any Scheme and/or any regulator or agency having jurisdiction over Issuer or Program Manager related to the issuance, marketing, sale, authorisation or usage of the Cards, Program(s) or services provided under this Cardholder Agreement, including without limitation the Malta Financial Services Authority. | |
| Scheme | Mastercard; Mastercard is a registered trademark of Mastercard International Incorporated | |
| Transaction | The use of your Card to make (i) a payment, or a purchase of goods or services from a Merchant where payment is made (in whole or in part) by use of your Card including where payment is made over the internet, by phone or mail order or (ii) a cash withdrawal made from an ATM or bank using your Card. | |
| Username and Password | A set of personal codes selected by you in order to access your Account; | |
| Virtual Card | A non-physical Card, the use of which is limited to online, phone or mail order purchases. For the avoidance of doubt, a Virtual Card cannot be used to make a cash withdrawal from an ATM or bank and any reference to such withdrawals or to a Physical Card in this Cardholder Agreement excludes the Virtual Card. | |
| Website | www.bulpay.eu | |
| we, us or our | Transact Payments Malta Limited (“TPML”) a company incorporated in Malta with registered address Vault 14, Level 2, Valletta Waterfront, Floriana, FRN 1914, company registration number 91879, and authorised by the Malta Financial Services Authority as an electronic money institution or the Program Manager acting on its behalf. | |
| you or your | You, the person who has entered into this Cardholder Agreement with us by virtue of your use of the Card and any other person you have authorised to use any Cards in accordance with this Cardholder Agreement. |
1. Your Cardholder Agreement and Card
1.1Your Card is issued by us pursuant to a licence from the Scheme and your rights and obligations relating to the use of the Card are subject to this Cardholder Agreement.2.2 You can download or print the latest version of this Cardholder Agreement at any time from the Website and/or request a paper copy from Customer Services.
2. Purchase and activation of your Card
2.1 To apply for, and use, a Card you must be at least 18 and a resident of Austria, Bulgaria, Denmark, Finland, Poland, Portugal or Sweden.2.2 Cards may be obtained and activated via the BulPay Portal after registration and successful KYC checks.
2.3 When you receive your Physical Card, you must sign it immediately and then log onto the BulPay Portal to activate it using your activation code sent to you by email when you ordered your card. You must register your Card within the BulPay Portal by loading a minimum of £10.
2.4 Regardless of the number of Cards you have, you are permitted to have only one Account where your Available Balance is located. If we discover that you do have more than one Account, we may block your Card and terminate this Cardholder Agreement.
2.5 Provided we have been able to undertake KYC, you shall receive an activation confirmation by email or on your Online Account and you will be able to use the Card.
3. Personal Details
3.1 When entering into Transactions over the internet, some websites may require you to enter your Personal Details and, in such instances, you should supply the most recent Personal Details that you have provided us with.3.2 You must notify us of any change in your Personal Details as soon as possible by contacting Customer Services or updating the details in your Online Account. You will be liable for any loss that directly results from any failure to notify us of a change in your Personal Details as a result of undue delay, your gross negligence or fraud. We will need to verify your new Personal Details and may request relevant KYC information/documents from you as applicable.
3.3 We reserve the right at any time to satisfy ourselves as to your Personal Details (for example, by requesting relevant original documents) including for the purposes of preventing fraud and/or money laundering. In addition, at the time of your application or at any time in the future, in connection with your Card, you authorise us to undertake electronic identity verification checks on you either directly or using relevant third parties.
4. Using your Card
4.1 TPML is not responsible for any funds that have not been loaded onto the Card and does not provide services for loading funds to the Card.4.2 We reserve the right to request KYC documents and verification of your source of funds at any point.
4.3 If enabled, you will have the option to transfer your Available Balance or part balance from your Card to other Bulpay Prepaid Mastercards that have been issued by us (i.e. a “Card-to-Card” transfer). If you instruct us to make a transfer from your Card to another person’s Card, the requested amount will be debited from your Card and credited to the other person’s Card in accordance with your instructions. You may incur a Card-to-Card Transfer Fee for this transaction.
4.4 Your use of the Card is subject to the fees and limits detailed in the Fees & Limits Schedule, which shall be deducted from the Available Balance. Fees and limits may vary according to the type of Card.
4.5 Unless we inform you otherwise, you can use the Card at any Merchant who accepts the Scheme to carry out Transactions.
4.6 You must always ensure that you have sufficient Available Balance for each Transaction you authorise (including value added tax and other taxes, duties and applicable fees). If the Available Balance is insufficient to pay for a Transaction, some Merchants may not permit you to combine the use of your Card with other payment methods.
4.7 If for any reason a Transaction is carried out but its amount exceeds the Available Balance, you must pay us the deficit immediately, and if you fail to do so after receiving a notification from us, we reserve the right to take all necessary steps, including legal action, to recover this deficit.
4.8 There are certain circumstances where a Merchant may require you to have an Available Balance greater than the value of the Transaction you wish to make and you will only be charged for the actual and final value of the Transaction. Merchants may request this as they may need to access more funds than you initially planned to spend for example, when making hotel or rental car reservations. In the event that a Merchant has prior authorization on your Card, you will not have access to the relevant funds until the Transaction is completed or, if sooner, up to a period of 30 days. We will only block access to the exact amount of funds authorised by you.
4.9 Your Card cannot be used where such Merchants are unable to obtain online authorisation that you have sufficient Available Balance for the Transaction (for example, Transactions made on trains, ships, some in-flight purchases and tollbooths). We accept no liability if a Merchant refuses to accept payment using the Card.
4.10 We do not recommend using a Virtual Card to purchase an item over the internet that subsequently would require the presentation of a physical reference device in order to obtain that item. Examples include certain theatre ticket purchases, hotel stays, car rentals, and online purchases picked up in person.
4.11 You must not use the Card for any illegal purposes.
5. Authorising Card Transactions
5.1 You will need to give your consent to each Transaction so that we can check it is genuine by, where applicable, a) using your PIN or other security code personal to you; b) providing the Card details and/or providing any other details personal to you and/or your Card. Once you have given such consent to the Transaction, it will be deemed to be authorised.5.2 The time of receipt of a Transaction order is when we receive it. If a Transaction order is received after 4pm on a Business Day then it will be deemed to have been received on the next Business day.
5.3 Once a Transaction has been authorised by you and received by us, it cannot be revoked.
5.4 Where a Merchant’s payment service provider is located within the UK or EEA and the payment services being carried out are in the currency of an EEA Member State or the UK, we shall ensure the cash transfer to the Merchant’s payment service provider within 4 Business Days following the day on which the Transaction order is received.
5.5 Certain Merchants may not accept payments made through the Card and we accept no liability for this: it is your responsibility to check the restrictions of each Merchant.
5.6 Your ability to use or access the Card may occasionally be interrupted, for example if we need to carry out maintenance on our systems or websites. Please contact Customer Services to notify us of any problems you are experiencing using your Card and we will try to resolve these as soon as possible.
6. Additional Cards
6.1 At our sole discretion and provided we have received sufficient KYC information/documents (in accordance with condition 5.2), you may be eligible to apply for an Additional Card for use by an Additional Cardholder by contacting Customer Services or accessing the relevant area in your Online Account.6.2 Additional Cardholders must be at least 18 years old or, provided that you are legally responsible for them, at least 13 years old. Transactions by persons under 18 years of age may not be allowed by some Merchants but in all cases, you shall be responsible for any use of any Additional Cards by such persons. We may request KYC for each Additional Cardholder as required.
6.3 If your Additional Card application is successful, we will send you an Additional Card, which will be subject to a Fee and which you may give to the nominated Additional Cardholder for their exclusive use, provided that:
6.3.1 you provide the Additional Cardholder with a copy of these terms and conditions (which will then bind use by both of you);
6.3.2 the Additional Card is used only by that Additional Cardholder;
6.3.3 you retain the Primary Card for your sole and exclusive use in accordance with this Cardholder Agreement;
6.3.4 all Transactions made on the Additional Card shall be considered as having been authorised directly by the Primary Cardholder, who shall be responsible for such Transactions and any applicable Fees.
7.4 Additional Cards will be connected to the same Account as the Primary Card. Funds may only be added to the Account by the Primary Cardholder.
7.5 You must ensure that any Additional Cardholders under 18 years of age do not use a Card for any purpose for which the minimum age is at least 18 e.g. purchase of alcohol, adult entertainment or gambling.
7.6 Additional Cards can be issued only to EEA citizens.
8. Managing & Protecting Your Card
8.1 You can retrieve your PIN from your BulPay Portalwhen you activate your Card. You will need this PIN in order to make cash withdrawals from an ATM (permitted for Physical Cards only).8.2 If you forget your PIN, you can retrieve a reminder from your BulPay Portal.
8.3 When ordering a Primary Card, you will be prompted to create a Username and Password. You will need this Username and Password to access your BulPay Portal and to perform the following functions (as well as any other functions which may be added from time to time) in relation to your Card online:
8.3.1 change your telephone number;
8.3.2 check your Available Balance;
8.3.3 check your Transaction Details; and
8.3.4 change your Password.
8.4 Other than in relation to an Additional Cardholder, you must not give your Card to any other person or allow any other person to use it.
8.5 You are responsible for your Card, PIN, Username and Password, BulPayPortal and any related security details (“Security Details”) and must take all possible measures to keep them safe and entirely confidential. Such measures include (but are not limited to):
8.5.1 memorising your PIN as soon as you retrieve it;
8.5.2 never writing your PIN on your Card or on anything you usually keep with your Card;
8.5.3 keeping your PIN secret at all times for example, by not using your PIN if anyone else is watching.
8.6 Failure to comply with this condition 8 may affect your ability to claim any losses in the event that we can show that you have intentionally failed to keep the information safe or you have acted fraudulently, with undue delay or with gross negligence. In all other circumstances, your maximum liability shall be as set out below at condition 13.4.
8.7 If you believe that someone else knows your BulPay Portal PIN or Security Details, you must notify us by contacting Customer Services immediately.
8.8 In the event that we suspect or believe that your Card may be subject to any fraud or security threats, we will notify you securely via telephone or email during which we will ask you to answer security questions.
8.9 Once your Card has expired or if it is found after you have reported it as lost or stolen you must destroy it by cutting it in two through the magnetic strip.
9. Cancellation
9.1 If you have ordered your Card online, you may cancel it free of charge before activating and using it, and up to 14 calendar days after the date of activation (the Cancellation Period) by writing to Customer Services. This does not apply to replacement Cards where the cancellation period for the original Card has expired.9.2 You may also terminate your Card at any time by contacting Customer Services.
9.3 Once your Card has been cancelled, it will be your responsibility to destroy your Physical Card(s).
10. 3D Secure
10.1 In order to help reduce fraud and provide extra security for your payments, you will be required to use the 3D Secure service (also known as ‘Mastercard SecureCode’, ‘Identity Check’) (“3DS Service”) when making online payments .10.1.1 You must keep your security information (including your 3DS One Time Passwords) safe and confidential at all times.
10.1.2 If you think someone may be accessing your Account or the 3DS Service without your authority you must notify us immediately.
10.2 Use of your Information
10.2.1 We may use the data you supply to us in relation to the 3DS Service to administer the service.
10.2.2 We will not share your information with online retailers; however, details may be supplied to third parties if this is required for a legal or regulatory reason.
10.2.3 You must keep your information up to date at all times. If there is a change to your personal details, you must notify us immediately by contacting our customer service by calling the number on the back of your card (your network provider may charge a fee to call this number) or by updating your personal details in the BulPay.
10.2.4 We will manage and protect your personal data in accordance with all applicable data protection laws. For full and comprehensive information about when and why we collect personal information about you, how we use it and the conditions under which we may disclose it, please refer to our Privacy Policy which is provided to you at the time we collect your Personal Data and which can be found in the BulPay.
10.3 Changes to the 3DS Service
10.3.1 We may make changes to the 3DS Service in order to update or improve it or to reflect requirements imposed by us by any party which assists us in providing the 3DS Service.
10.3.2 We may make changes with immediate effect if required to do so by any law or regulatory requirement affecting us.
10.4 Suspension or Termination of the 3DS Service
We may suspend, restrict use or terminate the 3DS Service where:
- There is a breach of security;
- There is a legal or regulatory requirement to do so;
In exceptional circumstances if we are required to do so by Mastercard International or any third party which assists us in providing the 3DS Service.
10.5 Liability
10.5.1 Unless you are a victim of fraud, you may be responsible for all transactions carried out and verified with your 3DS One Time Passwords.
10.5.2 We shall not be liable for any failures of the 3DS Service caused by any systems failing or other events which we cannot reasonably control.
11. Expiry
11.1 This Cardholder Agreement shall terminate on the Expiry Date unless you are issued with a replacement card.12. Termination or Suspension of your Card
12.1 When this Cardholder Agreement is terminated, your Account is closed. We may terminate this Cardholder Agreement at any time by giving you two months’ advance notice (which will be sent to the email address that you have provided to us).12.2 We can suspend your Card/ Account, restrict its functionality or terminate this Cardholder Agreement at any time with immediate effect if:
12.2.1 you haven’t given us the information we need or we believe that any of the information that you have provided to us was incorrect or false; or
12.2.2 a Transaction has been declined because of a lack of Available Balance or you do not repay money that you owe to us; or
12.2.3 you fail to provide the Personal Data necessary for us to comply with our legal obligations and to fulfil this Cardholder Agreement; or
12.2.4 we reasonably suspect that the security of the Card has been compromised or that you, or any third party, have used, or intend to use the Card in a grossly negligent manner or for fraudulent or other unlawful purposes; or
12.2.5 we believe that your use of the Card may result in harm to us or our systems; or
12.2.6 your agreement with Modulr under Section 1 of this Agreement has been suspended, restricted or terminated; or
12.2.7 we believe that your continued use of the Card may damage our reputation; or
12.2.8 you become bankrupt; or
12.2.9 we are required to do so under Applicable Law or where we believe that continued operation of the Program may be in breach of Applicable Law; or
12.2.10 you do not access your Account for 3 years; or
12.2.11 we cannot process some or all of your Transactions due to the actions of third parties; or
12.2.12 you have breached this Cardholder Agreement.
12.3 In the event that we do suspend or terminate your Card then, where lawfully permitted, we shall notify you in advance or as soon as possible afterwards. We may advise anyone involved in the Transaction if a suspension has taken place.
12.4 Unless or until you or we terminate this Cardholder Agreement, this Cardholder Agreement will remain in force.
13. Loss or Theft of your Card.
13.4 You are responsible for protecting your Card as if it were cash in your wallet.13.5 You must contact us without delay by calling us on +359 (0) 877 109099 or reporting your card lost/stolen within the BulPay Portal. if you know or suspect that a Card is lost, stolen, misappropriated or subject to unauthorised use or that the PIN or any Card related security details is known to an unauthorised person or you think that a Transaction has been incorrectly executed.
11.3 You shall be liable for up to a maximum of €50 of losses due to unauthorised Transactions made before you informed us about the theft, loss or misappropriation of the Card. If our investigations reveal that you authorised a disputed Transaction or that you acted fraudulently or that you negligently or with intent breached the terms of this Cardholder Agreement (for example, by not keeping your Security Details or Card safe), you may be liable for any loss we suffer due to use of the Security Details or Card.
13.4 Once a loss, theft or unauthorised use of your Card is reported, use of the Card shall be blocked to avoid further losses.
13.5 Replacement Cards will be sent to the most recent address you have provided and will be subject to a Fee.
13.6 You agree to cooperate with our agents, any supervisory authority, the police and us if your Card is lost, stolen or if we suspect fraudulent use of the Card.
13.7 In the event that you inform us of an unauthorised or incorrectly executed Transaction without undue delay, and in any event no later than 13 months after the debit date, we will refund the amount immediately unless we have any reason to believe that the incident may have been caused by a breach of this Cardholder Agreement, through gross negligence or we have reasonable grounds to suspect fraud.
13.8 In the event of a non-executed or defectively executed Transaction, we will make immediate efforts to trace the Transaction and will notify you of the outcome. We will not charge you for such efforts. In the event that we are liable for such Transaction, we will refund the amount, together with the amount of any resulting charges to which you may be subject, without undue delay.
13.9 In the event that a Transaction that was executed within the EEA or the UK arrived later than it should have according to the terms of this Cardholder Agreement, you may request that we contact the receiving payment institution to ask them to treat it as if it was made on time.
13.10 In the event that a Transaction is made which is initiated by a Payee, we will provide a refund of that amount, subject to clause 14311, only in circumstances where you can prove that:
(i) the exact Transaction amount was not specified when you authorised the payment; and
(ii) the amount of the Transaction exceeds the amount that you could have reasonably expected, taking into account your previous spending pattern, the terms of this Cardholder Agreement and the relevant circumstances of the case.
13.11 The refund referred to in 13.10 will not be provided if:
(i) the amount relates to currency exchange fluctuations; or
(ii) you have given your consent to execute the Transaction directly to us; or
(iii) information on the Transaction was provided or made available in an agreed manner to you at least 4 weeks prior to the due date of the Transaction; or
(iv) you request the refund from us later than 8 weeks from the date on which it was debited.
15.Payment Disputes
15.1 If you dispute a Transaction that you have authorised and which has been processed on your Card, you should settle this with the person you bought the goods or services from; we are not responsible for the quality, safety, legality or any other aspect of goods or services purchased with your Card.15.2 If your dispute with a Merchant relating to a Transaction cannot be resolved you should contact us at Customer Services, and we will attempt to assist you as far as is reasonably practicable.
15.3 If you have reason to believe that a Transaction was carried out without your consent or in error, you may ask us to investigate the Transaction. If we investigate the Transaction, the disputed amount will be unavailable to spend until our investigation is complete and if we receive information that proves the Transaction was genuine, this will be deducted from your Available Balance and we may charge you an investigation fee. If you do not have sufficient Available Balance, you must repay us the amount immediately on demand.
16. Foreign Exchange
16.1 If you use your Card in a currency other than the currency in which your Card is denominated (“Foreign Currency Transaction”), the amount deducted from your Available Balance will be the amount of the Foreign Currency Transaction converted to your Card currency using a rate set by the Scheme on the date the Transaction is authorised.16.2 You may also be charged a foreign exchange Fee as set out in the Fees & Limits Schedule. In order to allow you to compare charges for currency conversion, you can view the real-time percentage difference between the amount that will be charged on your Card for a Foreign Currency Transaction (consisting of the mark-up applied by the Scheme as well as any other charges) and the latest available euro foreign exchange reference rates issued by the European Central Bank. You can view this information on the BulPay Portal prior to making a Foreign Currency Transaction. This information will also be sent to you by push notification after making a relevant Foreign Currency Transaction, where required by Applicable Law. You are able to opt out of receiving this notification in the card setting section on the BulPay portal.
17. Our Liability
17. We shall not be liable for any loss arising:(i)from any default resulting directly or indirectly from any cause beyond our control, including but not limited to, a lack of funds and/or failure of network services at ATMs, maximum withdrawal limits set by ATM operators and failure of data processing systems; or
(i)from any loss of profits, loss of business, or any indirect, consequential, special or punitive losses; or
(ii)from any use of this Card that is contrary to this Cardholder Agreement; or
(iii)for goods or services that are purchased with the Card; or
(iv)for any damages due to loss, fraud or theft that you have reported to us 13 months after the event.
17.2 We will not be liable to you if your contact details have changed and you have not told us.
17.3 Where the Card is faulty due to our default, our liability shall be limited to replacement of the Card.
17.4 Where sums are incorrectly deducted from your Available Balance due to our default, our liability shall be limited to payment to you of an equivalent amount.
17.5 Nothing in this Cardholder Agreement shall exclude or limit our liability for death or personal injury resulting from our negligence or fraud.
17.6 To the extent permitted by law, all conditions or warranties implied by law, statute or otherwise are expressly excluded.
17.7 The above exclusions and limitations set out in this paragraph shall apply to any liability of our affiliates such as the Schemes, and other suppliers, contractors, distributors and any of their respective affiliates (if any), to you, which may arise in connection with this Cardholder Agreement.
17.8 For all other matters not expressly covered in this condition 17, and to the extent permitted by applicable law, our total aggregate liability shall be limited to the total amount of money that you have spent using your Card over the 12-month period prior to the claim.
18. Complaints
18.1 Should you wish to make a complaint about your Card, you may contact Customer Service support@BulPay.eu to submit details of such complaint.18.2 Upon our receipt of your emailed complaint, we shall endeavour to respond to you as quickly as possible but in any event we shall reply to you by return email within 15 Business Days.
18.3 If, having received a response from our Customer Services team, you are unhappy with the outcome, you can escalate your complaint to TPML’s Complaints Department by writing to complaints@transactpaymentslimited.com
18.4 If TPML’s Complaints Department is unable to respond to your complaint immediately, you will receive confirmation that your complaint has been received and a formal investigation will be conducted. You will receive a formal response of their findings within 35 Business Days of receipt of your complaint.
18.5 We will make every effort to reach a resolution to your complaint and will fully explain the reasoning behind our decision.
18.6 In the unlikely event that we are unable to resolve your issue to your satisfaction you have the right to refer your complaint to the Office of the Arbiter for Financial Services, 1st Floor, St Calcedonius Square, Floriana FRN 1530, Malta (Telephone+ 356 21249245, Website: https://financialarbiter.org.mt)
19. General Communication
19.1 Any communication from us to you will be given by notification on the BulPay Portal and/or by email (using the latest contact details with which you have provided us).19.2 You may contact us via Customer Service, the details of which are set out in clause 1.
20 Personal Data
20.1 TPML is the Data Controller of your Personal Data associated with the application for and use of this Card only and will collect certain information about the purchaser and the users of the Card in order to operate the Card program. Your provision of your Personal Data and our processing of that data is necessary for each of us to carry out our obligations under this Cardholder Agreement. At times, the processing may be necessary so that we can take certain steps, at your request, prior to entering into this Cardholder Agreement. If you fail to provide the personal data which we request, we will take steps to terminate this Cardholder Agreement in accordance with clause 12.2 (iii) above.20.2 We will manage and protect your personal data in accordance with all applicable data protection laws. For full and comprehensive information about when and why we collect personal information about you, how we use it, the conditions under which we may disclose it and how we keep it secure, please refer to our Privacy Policy which is provided to you at the time we collect your personal data.
21. Changes to the Terms and Conditions
21.1 We may update or amend this Cardholder Agreement at any time on at least 2 months’ advance notice, which shall be given, by e-mail (using the latest contact details you have provided us with).21.2 If you do not agree with the changes to the Cardholder Agreement, you may at any time within the 2-month notice period terminate your Cardholder Agreement in accordance with condition 9 You will be deemed to have accepted any change to this Cardholder Agreement unless you notify us before the proposed date of the change.
21.3 If any part of this Cardholder Agreement is inconsistent with any regulatory requirements then we will not rely on that part but treat it as if it did actually reflect the relevant regulatory requirement. If we need to make operational changes before we can fully comply with the new regulatory requirement, we will make those changes as soon as reasonably practical.
22. Language
The English language version of this Cardholder Agreement and of any communications and Website content will prevail over any other language version which we may issue from time to time.23. Governing Law
This Cardholder Agreement is governed by Malta law.24. Jurisdiction
You agree to the non-exclusive jurisdiction of the courts of Malta.25. Miscellaneous
25.1 Any delay or failure to exercise any right or remedy under this Cardholder Agreement by us shall not be construed as a waiver of that right or remedy or preclude its exercise at any subsequent time.25.2 The Card is a payment service product and not a deposit or credit or banking product and, as such is not governed by the Deposit Security Scheme of Malta. Please refer to clause 15.7 of Section 1 in relation to the safeguarding of your funds.
25.3 If any provision of this Cardholder Agreement is deemed unenforceable or illegal, the remaining provisions will continue in full force and effect.
25.4 You may not assign or transfer any of your rights and/or benefits under this Cardholder Agreement and you shall be the sole party to the contract between us. You will remain liable until all Cards issued to you are cancelled or have expired and all sums due under this Cardholder Agreement have been paid by you in full. We may assign our rights and benefits under this Cardholder Agreement to a third party and may subcontract any of our obligations under this Cardholder Agreement.
Section 3: Cardholder Terms and Conditions
This section 3 comprises the terms and conditions governing the BulPay Prepaid Mastercard which are between you and Transact Payments Limited. You have entered into these terms and conditions if you are resident in the United KingdomIMPORTANT INFORMATION:Please read this Cardholder Agreement carefully before activating your Account. This Cardholder Agreement becomes effective and binding on you upon your activation or use of your Card and for the entire period of validity of your Card.
Definitions & Interpretation:| Account | The electronic money account provided by Modulr FS Europe Limited associated with your Card and opened in accordance with Section 2 of this Cardholder Agreement. | |
| Additional Cardholder | A person who you have authorised to hold an Additional Card.. | |
| Cardholder Agreement | These terms and conditions relating to the use of your Card(s) as amended from time to time. | |
| Applicable Law | any applicable law (including but not limited to, any local law of the jurisdictions into which the Card is provided and the Program is operated), statute, statutory instrument, act, regulation, rule, order, supervisory guidance, policy, instruction or requirement stipulated by an applicable Regulatory Authority, or interpretation promulgated or published by any Regulatory Authority, any order issued by a court having jurisdiction over a party, or any applicable rule or requirement of any Card Scheme related to the issuance, sale, authorisation or usage of the Card and/or services to be provided under this Cardholder Agreement or such other rule as deemed valid by TPL from time to time. | |
| Available Balance | The value of unspent funds on your Account and available for your use. | |
| Business Day | Monday to Friday, 8am to 5pm CET, excluding bank and public holidays in Bulgaria.. | |
| BulPay Portal | The BulPay web application that allows you to access your Account, perform Account-related activities and view Card and Transaction related information. | |
| Card | Any Card issued to you in accordance with this Cardholder Agreement. | |
| Customer Services | The contact centre for dealing with queries about your Card. You can contact Customer Services by:
calling +359 (0) 877109099 (your network provider may charge a fee for calling this number); e-mailing support@bulpay.eu from the email address registered to your Online Account; or writing to MT Group Ltd, 10 Gen. Stefan Toshev Str., Entr. B, Gl.1, Ap. 47, Stara Zagora, 6000, Bulgaria |
|
| ЕЕА | European Economic Area. | |
| Expiry Date | The expiry date showing on your Card. | |
| Fee | Any fee payable by you as referenced in the Fees & Limits Schedule | |
| Fees & Limits Schedule | The schedule contained in Section 4 of the Agreement. | |
| KYC | Means “Know Your Customer” and constitutes our verification of your Personal Details | |
| Merchant | A retailer or any other person that accepts e-money via the Card. | |
| Personal Data | The registered personal identity details relating to the use of your Card including (but not limited to) your: name, date of birth, home address, email address and telephone (landline and/or mobile) number. Full details of the Personal Data which we process are set out in our Privacy Policy. | |
| Physical Card | A physical/plastic Card that can be used to carry out Transactions. | |
| PIN | Personal Identification Number; that is, the security number provided for use with your Card. | |
| Primary Card | The first Card issued to you following your registration for a Card in accordance with this Cardholder Agreement. | |
| Primary Cardholder | The person who has been issued with the Primary Card and who is responsible for the use of all other Additional Cards in accordance with this Cardholder Agreement. | |
| Program Manager | Lerex Technology with registration number 09829039 and registered address Abacus House, Caxton Place, Cardiff, CF23 8HA. | |
| Regulatory Authority | as the context requires, any Scheme and/or any regulator or agency having jurisdiction over Issuer or Program Manager related to the issuance, marketing, sale, authorisation or usage of the Cards, Program(s) or services provided under this Cardholder Agreement, including without limitation the Malta Financial Services Authority. | |
| Scheme | Mastercard; Mastercard is a registered trademark of Mastercard International Incorporated | |
| Transaction | The use of your Card to make (i) a payment, or a purchase of goods or services from a Merchant where payment is made (in whole or in part) by use of your Card including where payment is made over the internet, by phone or mail order or (ii) a cash withdrawal made from an ATM or bank using your Card. | |
| Username and Password | A set of personal codes selected by you in order to access your Account; | |
| Virtual Card | A non-physical Card, the use of which is limited to online, phone or mail order purchases. For the avoidance of doubt, a Virtual Card cannot be used to make a cash withdrawal from an ATM or bank and any reference to such withdrawals or to a Physical Card in this Cardholder Agreement excludes the Virtual Card. | |
| Website | www.bulpay.eu | |
| we, us or our | Transact Payments Limited (“TPL”) a company incorporated in Gibraltar with registered address 6.20 World Trade Center, 6 Bayside Road, Gibraltar GX11 1AA, company registration number 108217, and authorised by the Gibraltar Financial Services Commission as an electronic money institution or the Program Manager acting on its behalf. | |
| you or your | You, the person who has entered into this Cardholder Agreement with us by virtue of your use of the Card and any other person you have authorised to use any Cards in accordance with this Cardholder Agreement. |
2. Your Cardholder Agreement and Card
2.1 Your Card is issued by us pursuant to a licence from the Scheme and your rights and obligations relating to the use of the Card are subject to this Cardholder Agreement.2.2 You can download or print the latest version of this Cardholder Agreement at any time from the Website and/or request a paper copy from Customer Services.
3. Purchase and activation of your Card
3.1 To apply for, and use, a Card you must be at least 18 and a resident of Austria, Bulgaria, Denmark, Finland, Poland, Portugal or Sweden.3.2 Cards may be obtained and activated via the BulPay Portal after registration and successful KYC checks.
3.3 When you receive your Physical Card, you must sign it immediately and then log onto the BulPay Portal to activate it using your activation code sent to you by email when you ordered your card. You must register your Card within the BulPay Portal by loading a minimum of £10.
3.4 Regardless of the number of Cards you have, you are permitted to have only one Account where your Available Balance is located. If we discover that you do have more than one Account, we may block your Card and terminate this Cardholder Agreement.
3.5 Provided we have been able to undertake KYC, you shall receive an activation confirmation by email or on your Online Account and you will be able to use the Card.
4. Personal Details
4.1 When entering into Transactions over the internet, some websites may require you to enter your Personal Details and, in such instances, you should supply the most recent Personal Details that you have provided us with.4.2 You must notify us of any change in your Personal Details as soon as possible by contacting Customer Services or updating the details in your Online Account. You will be liable for any loss that directly results from any failure to notify us of a change in your Personal Details as a result of undue delay, your gross negligence or fraud. We will need to verify your new Personal Details and may request relevant KYC information/documents from you as applicable.
4.3 We reserve the right at any time to satisfy ourselves as to your Personal Details (for example, by requesting relevant original documents) including for the purposes of preventing fraud and/or money laundering. In addition, at the time of your application or at any time in the future, in connection with your Card, you authorise us to undertake electronic identity verification checks on you either directly or using relevant third parties.
5. Using your Card
5.1 TPML is not responsible for any funds that have not been loaded onto the Card and does not provide services for loading funds to the Card.5.2 We reserve the right to request KYC documents and verification of your source of funds at any point.
5.3 If enabled, you will have the option to transfer your Available Balance or part balance from your Card to other Bulpay Prepaid Mastercards that have been issued by us (i.e. a “Card-to-Card” transfer). If you instruct us to make a transfer from your Card to another person’s Card, the requested amount will be debited from your Card and credited to the other person’s Card in accordance with your instructions. You may incur a Card-to-Card Transfer Fee for this transaction.
5.4 Your use of the Card is subject to the fees and limits detailed in the Fees & Limits Schedule, which shall be deducted from the Available Balance. Fees and limits may vary according to the type of Card.
5.5 Unless we inform you otherwise, you can use the Card at any Merchant who accepts the Scheme to carry out Transactions.
5.6 You must always ensure that you have sufficient Available Balance for each Transaction you authorise (including value added tax and other taxes, duties and applicable fees). If the Available Balance is insufficient to pay for a Transaction, some Merchants may not permit you to combine the use of your Card with other payment methods.
5.7 If for any reason a Transaction is carried out but its amount exceeds the Available Balance, you must pay us the deficit immediately, and if you fail to do so after receiving a notification from us, we reserve the right to take all necessary steps, including legal action, to recover this deficit.
5.8 There are certain circumstances where a Merchant may require you to have an Available Balance greater than the value of the Transaction you wish to make and you will only be charged for the actual and final value of the Transaction. Merchants may request this as they may need to access more funds than you initially planned to spend for example, when making hotel or rental car reservations. In the event that a Merchant has prior authorization on your Card, you will not have access to the relevant funds until the Transaction is completed or, if sooner, up to a period of 30 days. We will only block access to the exact amount of funds authorised by you.
5.9 Your Card cannot be used where such Merchants are unable to obtain online authorisation that you have sufficient Available Balance for the Transaction (for example, Transactions made on trains, ships, some in-flight purchases and tollbooths). We accept no liability if a Merchant refuses to accept payment using the Card.
5.10 We do not recommend using a Virtual Card to purchase an item over the internet that subsequently would require the presentation of a physical reference device in order to obtain that item. Examples include certain theatre ticket purchases, hotel stays, car rentals, and online purchases picked up in person.
5.11 You must not use the Card for any illegal purposes.
6 Authorising Card Transactions
6.1 You will need to give your consent to each Transaction so that we can check it is genuine by, where applicable, a) using your PIN or other security code personal to you; b) providing the Card details and/or providing any other details personal to you and/or your Card. Once you have given such consent to the Transaction, it will be deemed to be authorised.6.2 The time of receipt of a Transaction order is when we receive it. If a Transaction order is received after 4pm on a Business Day then it will be deemed to have been received on the next Business day.
6.3 Once a Transaction has been authorised by you and received by us, it cannot be revoked.
6.4 Where a Merchant’s payment service provider is located within the UK or EEA and the payment services being carried out are in the currency of an EEA Member State or the UK, we shall ensure the cash transfer to the Merchant’s payment service provider within 4 Business Days following the day on which the Transaction order is received.
6.5 Certain Merchants may not accept payments made through the Card and we accept no liability for this: it is your responsibility to check the restrictions of each Merchant.
6.6 Your ability to use or access the Card may occasionally be interrupted, for example if we need to carry out maintenance on our systems or websites. Please contact Customer Services to notify us of any problems you are experiencing using your Card and we will try to resolve these as soon as possible.
7. Additional Cards
7.1 At our sole discretion and provided we have received sufficient KYC information/documents (in accordance with condition 5.2), you may be eligible to apply for an Additional Card for use by an Additional Cardholder by contacting Customer Services or accessing the relevant area in your Online Account.7.2 Additional Cardholders must be at least 18 years old or, provided that you are legally responsible for them, at least 13 years old. Transactions by persons under 18 years of age may not be allowed by some Merchants but in all cases, you shall be responsible for any use of any Additional Cards by such persons. We may request KYC for each Additional Cardholder as required.
7.3 If your Additional Card application is successful, we will send you an Additional Card, which will be subject to a Fee and which you may give to the nominated Additional Cardholder for their exclusive use, provided that:
7.3.1 you provide the Additional Cardholder with a copy of these terms and conditions (which will then bind use by both of you);
7.3.2 the Additional Card is used only by that Additional Cardholder;
7.3.3 you retain the Primary Card for your sole and exclusive use in accordance with this Cardholder Agreement;
7.3.4 all Transactions made on the Additional Card shall be considered as having been authorised directly by the Primary Cardholder, who shall be responsible for such Transactions and any applicable Fees.
7.4 Additional Cards will be connected to the same Account as the Primary Card. Funds may only be added to the Account by the Primary Cardholder.
7.5 You must ensure that any Additional Cardholders under 18 years of age do not use a Card for any purpose for which the minimum age is at least 18 e.g. purchase of alcohol, adult entertainment or gambling.
7.6 Additional Cards can be issued only to EEA citizens.
8. Managing & Protecting Your Card
8.1 You can retrieve your PIN from your BulPay Portalwhen you activate your Card. You will need this PIN in order to make cash withdrawals from an ATM (permitted for Physical Cards only).8.2 If you forget your PIN, you can retrieve a reminder from your BulPay Portal.
8.3 When ordering a Primary Card, you will be prompted to create a Username and Password. You will need this Username and Password to access your BulPay Portal and to perform the following functions (as well as any other functions which may be added from time to time) in relation to your Card online:
8.3.1 change your telephone number;
8.3.2 check your Available Balance;
8.3.3 check your Transaction Details; and
8.3.4 change your Password.
8.4 Other than in relation to an Additional Cardholder, you must not give your Card to any other person or allow any other person to use it.
8.5 You are responsible for your Card, PIN, Username and Password, BulPayPortal and any related security details (“Security Details”) and must take all possible measures to keep them safe and entirely confidential. Such measures include (but are not limited to):
8.5.1 memorising your PIN as soon as you retrieve it;
8.5.2 never writing your PIN on your Card or on anything you usually keep with your Card;
8.5.3 keeping your PIN secret at all times for example, by not using your PIN if anyone else is watching.
8.6 Failure to comply with this condition 8 may affect your ability to claim any losses in the event that we can show that you have intentionally failed to keep the information safe or you have acted fraudulently, with undue delay or with gross negligence. In all other circumstances, your maximum liability shall be as set out below at condition 13.4.
8.7 If you believe that someone else knows your BulPay Portal PIN or Security Details, you must notify us by contacting Customer Services immediately.
8.8 In the event that we suspect or believe that your Card may be subject to any fraud or security threats, we will notify you securely via telephone or email during which we will ask you to answer security questions.
8.9 Once your Card has expired or if it is found after you have reported it as lost or stolen you must destroy it by cutting it in two through the magnetic strip.
9. Cancellation
9.1 If you have ordered your Card online, you may cancel it free of charge before activating and using it, and up to 14 calendar days after the date of activation (the Cancellation Period) by writing to Customer Services. This does not apply to replacement Cards where the cancellation period for the original Card has expired.9.2 You may also terminate your Card at any time by contacting Customer Services.
9.3 Once your Card has been cancelled, it will be your responsibility to destroy your Physical Card(s).
10. 3D Secure
10.1 In order to help reduce fraud and provide extra security for your payments, you will be required to use the 3D Secure service (also known as ‘Mastercard SecureCode’, ‘Identity Check’) (“3DS Service”) when making online payments .10.1.1 You must keep your security information (including your 3DS One Time Passwords) safe and confidential at all times.
10.1.2 If you think someone may be accessing your Account or the 3DS Service without your authority you must notify us immediately.
10.2 Use of your Information
10.2.1 We may use the data you supply to us in relation to the 3DS Service to administer the service.
10.2.2 We will not share your information with online retailers; however, details may be supplied to third parties if this is required for a legal or regulatory reason.
10.2.3 You must keep your information up to date at all times. If there is a change to your personal details, you must notify us immediately by contacting our customer service by calling the number on the back of your card (your network provider may charge a fee to call this number) or by updating your personal details in the BulPay.
10.2.4 We will manage and protect your personal data in accordance with all applicable data protection laws. For full and comprehensive information about when and why we collect personal information about you, how we use it and the conditions under which we may disclose it, please refer to our Privacy Policy which is provided to you at the time we collect your Personal Data and which can be found in the BulPay.
10.3 Changes to the 3DS Service
10.3.1 We may make changes to the 3DS Service in order to update or improve it or to reflect requirements imposed by us by any party which assists us in providing the 3DS Service.
10.3.2 We may make changes with immediate effect if required to do so by any law or regulatory requirement affecting us.
10.4 Suspension or Termination of the 3DS Service
We may suspend, restrict use or terminate the 3DS Service where:
- There is a breach of security;
- There is a legal or regulatory requirement to do so;
In exceptional circumstances if we are required to do so by Mastercard International or any third party which assists us in providing the 3DS Service.
10.5 Liability
10.5.1 Unless you are a victim of fraud, you may be responsible for all transactions carried out and verified with your 3DS One Time Passwords.
10.5.2 We shall not be liable for any failures of the 3DS Service caused by any systems failing or other events which we cannot reasonably control.
11. Expiry
11.1 This Cardholder Agreement shall terminate on the Expiry Date unless you are issued with a replacement card.12. Termination or Suspension of your Card
12.1 When this Cardholder Agreement is terminated, your Account is closed. We may terminate this Cardholder Agreement at any time by giving you two months’ advance notice (which will be sent to the email address that you have provided to us).12.2 We can suspend your Card/ Account, restrict its functionality or terminate this Cardholder Agreement at any time with immediate effect if:
12.2.1 you haven’t given us the information we need or we believe that any of the information that you have provided to us was incorrect or false; or
12.2.2 a Transaction has been declined because of a lack of Available Balance or you do not repay money that you owe to us; or
12.2.3 you fail to provide the Personal Data necessary for us to comply with our legal obligations and to fulfil this Cardholder Agreement; or
12.2.4 we reasonably suspect that the security of the Card has been compromised or that you, or any third party, have used, or intend to use the Card in a grossly negligent manner or for fraudulent or other unlawful purposes; or
12.2.5 we believe that your use of the Card may result in harm to us or our systems; or
12.2.6 your agreement with Modulr under Section 1 of this Agreement has been suspended, restricted or terminated; or
12.2.7 we believe that your continued use of the Card may damage our reputation; or
12.2.8 you become bankrupt; or
12.2.9 we are required to do so under Applicable Law or where we believe that continued operation of the Program may be in breach of Applicable Law; or
12.2.10 you do not access your Account for 3 years; or
12.2.11 we cannot process some or all of your Transactions due to the actions of third parties; or
12.2.12 you have breached this Cardholder Agreement.
24.3 In the event that we do suspend or terminate your Card then, where lawfully permitted, we shall notify you in advance or as soon as possible afterwards. We may advise anyone involved in the Transaction if a suspension has taken place.
13.1 Unless or until you or we terminate this Cardholder Agreement, this Cardholder Agreement will remain in force.
14. Loss or Theft of your Card.
14.1 You are responsible for protecting your Card as if it were cash in your wallet.14.2 You must contact us without delay by calling us on +359 (0) 877 109099 or reporting your card lost/stolen within the BulPay Portal. if you know or suspect that a Card is lost, stolen, misappropriated or subject to unauthorised use or that the PIN or any Card related security details is known to an unauthorised person or you think that a Transaction has been incorrectly executed.
14.3 You shall be liable for up to a maximum of €50 of losses due to unauthorised Transactions made before you informed us about the theft, loss or misappropriation of the Card. If our investigations reveal that you authorised a disputed Transaction or that you acted fraudulently or that you negligently or with intent breached the terms of this Cardholder Agreement (for example, by not keeping your Security Details or Card safe), you may be liable for any loss we suffer due to use of the Security Details or Card.
14.4 Once a loss, theft or unauthorised use of your Card is reported, use of the Card shall be blocked to avoid further losses.
14.5 Replacement Cards will be sent to the most recent address you have provided and will be subject to a Fee.
14.6 You agree to cooperate with our agents, any supervisory authority, the police and us if your Card is lost, stolen or if we suspect fraudulent use of the Card.
14.7 In the event that you inform us of an unauthorised or incorrectly executed Transaction without undue delay, and in any event no later than 13 months after the debit date, we will refund the amount immediately unless we have any reason to believe that the incident may have been caused by a breach of this Cardholder Agreement, through gross negligence or we have reasonable grounds to suspect fraud.
14.8 In the event of a non-executed or defectively executed Transaction, we will make immediate efforts to trace the Transaction and will notify you of the outcome. We will not charge you for such efforts. In the event that we are liable for such Transaction, we will refund the amount, together with the amount of any resulting charges to which you may be subject, without undue delay.
14.9 In the event that a Transaction that was executed within the EEA or the UK arrived later than it should have according to the terms of this Cardholder Agreement, you may request that we contact the receiving payment institution to ask them to treat it as if it was made on time.
14.10 In the event that a Transaction is made which is initiated by a Payee, we will provide a refund of that amount, subject to clause 14311, only in circumstances where you can prove that:
(i) the exact Transaction amount was not specified when you authorised the payment; and
(ii) the amount of the Transaction exceeds the amount that you could have reasonably expected, taking into account your previous spending pattern, the terms of this Cardholder Agreement and the relevant circumstances of the case.
14.11 The refund referred to in 13.10 will not be provided if:
(i) the amount relates to currency exchange fluctuations; or
(ii) you have given your consent to execute the Transaction directly to us; or
(iii) information on the Transaction was provided or made available in an agreed manner to you at least 4 weeks prior to the due date of the Transaction; or
(iv) you request the refund from us later than 8 weeks from the date on which it was debited.
15.Payment Disputes
15.1 If you dispute a Transaction that you have authorised and which has been processed on your Card, you should settle this with the person you bought the goods or services from; we are not responsible for the quality, safety, legality or any other aspect of goods or services purchased with your Card.15.2 If your dispute with a Merchant relating to a Transaction cannot be resolved you should contact us at Customer Services, and we will attempt to assist you as far as is reasonably practicable.
15.3 If you have reason to believe that a Transaction was carried out without your consent or in error, you may ask us to investigate the Transaction. If we investigate the Transaction, the disputed amount will be unavailable to spend until our investigation is complete and if we receive information that proves the Transaction was genuine, this will be deducted from your Available Balance and we may charge you an investigation fee. If you do not have sufficient Available Balance, you must repay us the amount immediately on demand.
16. Foreign Exchange
16.1 If you use your Card in a currency other than the currency in which your Card is denominated (“Foreign Currency Transaction”), the amount deducted from your Available Balance will be the amount of the Foreign Currency Transaction converted to your Card currency using a rate set by the Scheme on the date the Transaction is authorised.16.2 You may also be charged a foreign exchange Fee as set out in the Fees & Limits Schedule. In order to allow you to compare charges for currency conversion, you can view the real-time percentage difference between the amount that will be charged on your Card for a Foreign Currency Transaction (consisting of the mark-up applied by the Scheme as well as any other charges) and the latest available euro foreign exchange reference rates issued by the European Central Bank. You can view this information on the BulPay Portal prior to making a Foreign Currency Transaction. This information will also be sent to you by push notification after making a relevant Foreign Currency Transaction, where required by Applicable Law. You are able to opt out of receiving this notification in the card setting section on the BulPay portal.
17. Our Liability
17.1 We shall not be liable for any loss arising:(ii)from any default resulting directly or indirectly from any cause beyond our control, including but not limited to, a lack of funds and/or failure of network services at ATMs, maximum withdrawal limits set by ATM operators and failure of data processing systems; or
(v)from any loss of profits, loss of business, or any indirect, consequential, special or punitive losses; or
(vi)from any use of this Card that is contrary to this Cardholder Agreement; or
(vii)for goods or services that are purchased with the Card; or
(viii)for any damages due to loss, fraud or theft that you have reported to us 13 months after the event.
17.2 We will not be liable to you if your contact details have changed and you have not told us.
17.3 Where the Card is faulty due to our default, our liability shall be limited to replacement of the Card.
17.4 Where sums are incorrectly deducted from your Available Balance due to our default, our liability shall be limited to payment to you of an equivalent amount.
17.5 Nothing in this Cardholder Agreement shall exclude or limit our liability for death or personal injury resulting from our negligence or fraud.
17.6 To the extent permitted by law, all conditions or warranties implied by law, statute or otherwise are expressly excluded.
17.7 The above exclusions and limitations set out in this paragraph shall apply to any liability of our affiliates such as the Schemes, and other suppliers, contractors, distributors and any of their respective affiliates (if any), to you, which may arise in connection with this Cardholder Agreement.
17.8 For all other matters not expressly covered in this condition 17, and to the extent permitted by applicable law, our total aggregate liability shall be limited to the total amount of money that you have spent using your Card over the 12-month period prior to the claim.
18. Complaints
18.1 Should you wish to make a complaint about your Card, you may contact Customer Service support@BulPay.eu to submit details of such complaint.18.2 Upon our receipt of your emailed complaint, we shall endeavour to respond to you as quickly as possible but in any event we shall reply to you by return email within 15 Business Days.
18.3 If, having received a response from our Customer Services team, you are unhappy with the outcome, you can escalate your complaint to TPML’s Complaints Department by writing to complaints@transactpaymentslimited.com
18.4 If TPML’s Complaints Department is unable to respond to your complaint immediately, you will receive confirmation that your complaint has been received and a formal investigation will be conducted. You will receive a formal response of their findings within 35 Business Days of receipt of your complaint.
18.5 We will make every effort to reach a resolution to your complaint and will fully explain the reasoning behind our decision.
18.6 In the unlikely event that we are unable to resolve your issue to your satisfaction you have the right to refer your complaint to the Office of the Arbiter for Financial Services, 1st Floor, St Calcedonius Square, Floriana FRN 1530, Malta (Telephone+ 356 21249245, Website: https://financialarbiter.org.mt)
19. General Communication
19.1 Any communication from us to you will be given by notification on the BulPay Portal and/or by email (using the latest contact details with which you have provided us).19.2 You may contact us via Customer Service, the details of which are set out in clause 1.
20 Personal Data
20.1 TPML is the Data Controller of your Personal Data associated with the application for and use of this Card only and will collect certain information about the purchaser and the users of the Card in order to operate the Card program. Your provision of your Personal Data and our processing of that data is necessary for each of us to carry out our obligations under this Cardholder Agreement. At times, the processing may be necessary so that we can take certain steps, at your request, prior to entering into this Cardholder Agreement. If you fail to provide the personal data which we request, we will take steps to terminate this Cardholder Agreement in accordance with clause 12.2 (iii) above.20.2 We will manage and protect your personal data in accordance with all applicable data protection laws. For full and comprehensive information about when and why we collect personal information about you, how we use it, the conditions under which we may disclose it and how we keep it secure, please refer to our Privacy Policy which is provided to you at the time we collect your personal data.
21. Changes to the Terms and Conditions
21.1 We may update or amend this Cardholder Agreement at any time on at least 2 months’ advance notice, which shall be given, by e-mail (using the latest contact details you have provided us with).21.2 If you do not agree with the changes to the Cardholder Agreement, you may at any time within the 2-month notice period terminate your Cardholder Agreement in accordance with condition 9 You will be deemed to have accepted any change to this Cardholder Agreement unless you notify us before the proposed date of the change.
21.3 If any part of this Cardholder Agreement is inconsistent with any regulatory requirements then we will not rely on that part but treat it as if it did actually reflect the relevant regulatory requirement. If we need to make operational changes before we can fully comply with the new regulatory requirement, we will make those changes as soon as reasonably practical.
22. Language
The English language version of this Cardholder Agreement and of any communications and Website content will prevail over any other language version which we may issue from time to time.23. Governing Law
This Cardholder Agreement is governed by Malta law.24. Jurisdiction
You agree to the non-exclusive jurisdiction of the courts of Malta.25. Miscellaneous
25.1 Any delay or failure to exercise any right or remedy under this Cardholder Agreement by us shall not be construed as a waiver of that right or remedy or preclude its exercise at any subsequent time.25.2 The Card is a payment service product and not a deposit or credit or banking product and, as such is not governed by the Deposit Security Scheme of Malta. Please refer to clause 15.7 of Section 1 in relation to the safeguarding of your funds.
25.3 If any provision of this Cardholder Agreement is deemed unenforceable or illegal, the remaining provisions will continue in full force and effect.
25.4 You may not assign or transfer any of your rights and/or benefits under this Cardholder Agreement and you shall be the sole party to the contract between us. You will remain liable until all Cards issued to you are cancelled or have expired and all sums due under this Cardholder Agreement have been paid by you in full. We may assign our rights and benefits under this Cardholder Agreement to a third party and may subcontract any of our obligations under this Cardholder Agreement.
Section 4: Fees and Limits Schedule
| EEA Residents | UK Residents | |
|---|---|---|
| Card & Account Issuing Fees | ||
| IBAN ordering: GBIBAN (sort / acct number) | FREE | FREE |
| Virtual Card Order Fee | 1= €1.00 2-5 = €10.00 |
1=£1.00 2-5 = £10.00 |
| Plastic Card Order Fee (Max 2 Cards per Account) | € 10.00 | £ 10.00 |
| Monthly Service charge (Physical & Virtual Cards) | €2.00 per card | £2.00 per card |
| Card lost/stolen replacement | €9.99 | £9.99 |
| Card Transaction Fees | ||
| ATM Withdrawal | € 2.99 | £2.99 |
| POS | FREE | FREE |
| ATM Balance enquiry | € 0.50 | £0.50 |
| ATM Decline | € 0.50 | £0.50 |
| POS Decline | € 0.50 | £0.50 |
| Foreign Exchange Charge | 3% | 3% |
| 3D Secure fee per transaction | FREE | FREE |
| Card to Card Transfer | € 1.50 | £1.50 |
| Wallet Transaction Fees | ||
| First Time Wallet Load Fee (Account creation fee) for EUR or GBP wallet | € 19.99 | £19.99 |
| Wallet (Card) load by Bank Transfer | € 5.99 | £5.99 |
| Wallet to Wallet Transfer | € 1.50 | £ 1.50 |
| Wire transfer from wallet to bank within SEPA region | € 5.99 | £ 5.99 |
| Miscellaneous Fees | ||
| Account closure balance return (Capped at £10/€10) | 3% | 3% |
| One-off Account Dormancy Fee (applies after 3 months of no usage) | € 9.99 | £ 9.99 |
| Limits | ||
| Maximum total card balance at any 1 time | €/£10000 | |
| Wallet (card) load value | Max per year: Max per month: Min per load: Max per load: |
€/£ 30,000 €/£ 10,000 €/£ 10 €/£ 2000 |
| ATM Withdrawals | Max per day: Max no.per day: |
€/£ 300 2 |
| POS Transactions | Max per month: Max per day: Max no.per day: |
€/£ 6,000 €/£ 1,500 20 |
| Wallet to Wallet (Card to Card) | Min per transfer: | €/£ 10 |