Valyuz Corporate Card Terms and Conditions2020-07-16T08:49:29+02:00

Valyuz UAB

  1. Definitions
    1. The following capitalized definitions when used in this Agreement shall have the following meanings:
      1. Cardholder has the meaning of a natural person to whom Valyuz Corporate Card was issued and who is at least 18 years old.
      2. Card Account has the meaning of the account opened on the Card App for the purpose to use Valyuz Corporate Card;
      3. Card App has the meaning of the application developed and owned (including all intellectual property rights to the maximum allowed extent) by MIR Limited intended to provide ability to use Valyuz Corporate card;
      4. MIR Limited has the meaning of MIR Limited UK Ltd, registration number 10417552, registered office address at 323 Davidson House The Forbury, Reading, England, RG1 3EU, United Kingdom. Authorised and regulated in the United Kingdom by the Financial Conduct Authority (FCA) to issue electronic money (reference number: 900704);
      5. Valyuz Corporate Card has the meaning set forth in Art. 2.2 of the Valyuz Corporate Card Terms and Conditions.
      6. Valyuz has the meaning of UAB Valyuz, a limited liability company organized and existing under the laws of the Republic of Lithuania, data about the company kept with the Companies’ Register of the Republic of Lithuania, company code 304782929, having its registered office at Vilniaus str. 31, Vilnius, Lithuania and holding unlimited electronic money institution license No 34 issued by the Lithuanian financial supervisory authority Bank of Lithuania as of 29 March 2018 (https://www.lb.lt/lt/finansu-rinku-dalyviai/valyuz-uab);
    2. Other words used in capitalized letters will have the meaning prescribed to them in other Agreement documents (for clarity Agreement documents are listed in Art. 2.1 of Valyuz Corporate Card Terms and Conditions).
  2. General
    1. These Valyuz Corporate Card Terms and Conditions will be applicable to any Client that has Valyuz Corporate Account opened and is willing to benefit from Valyuz Corporate Card. These Valyuz Corporate Card Terms and Conditions must be read and interpreted together with the Corporate Terms and Conditions, Agreement Form, Valyuz Website Terms of Use, Privacy policy, Fees Schedule and any other documents to the Agreement. In the event of any conflict and/or discrepancy between these Valyuz Corporate Card Terms and Conditions and any other document to the Agreement, these Valyuz Corporate Card Terms and Conditions will prevail.
    2. Valyuz Corporate Card will be promoted by Valyuz, programme managed by MIR Limited and issued by Wirecard Card Solutions Limited (WDCS), registration number 07875693, registered office address at3rd Floor, Grainger Chambers, 3-5 Hood Street, Newcastle upon Tyne, NE1 6JQ. Authorised and regulated in the United Kingdom by the Financial Conduct Authority (FCA) to issue electronic money (reference number: 900051).
    3. Valyuz Corporate Card may be issued in any currency available at the moment of issuance of Valyuz Corporate Card. Available currencies may be added and removed at any time.
    4. Valyuz Corporate Card is an electronic money product, and as such it is not covered by any compensation schemes. Your funds available on Valyuz Corporate Card shall be safeguarded by segregating and placing them in protected clients’ funds bank account; therefore, you can be assured to suffer no losses should electronic money on your Valyuz Corporate Card become valueless and unusable.
    5. Electronic money on your Valyuz Corporate Card at all times belong to the Client, which is registered as the Valyuz Corporate Account holder, irrespective of the name of the natural person is indicated on Valyuz Corporate Card.
    6. Valyuz Corporate Card can be used to make purchases in-store, via the internet or over the phone. Valyuz Corporate Card can be used to obtain cash through ATMs. There is no cash back facility. Valyuz Corporate Card is not a debit card supported by a bank account and is not in any way connected to a bank account. Valyuz Corporate Card is also not a guarantee card, charge card or credit card. Interest will not be earned on any funds loaded on to Valyuz Corporate Card.
    7. In order to benefit from Valyuz Corporate Card, the Cardholder must be of at least 18 years old. Signatories to Valyuz Corporate Account, your directors and shareholders will be eligible for Valyuz Corporate Card. If you are willing Valyuz Corporate Card to be issued to any other person, you will be requested to provide documents regarding such person’s relationship to you. By accepting these Valyuz Corporate Card Terms and Conditions, you hereby undertake to familiarize the Cardholder with these Valyuz Corporate Card Terms and Conditions and ensure compliance with them.
  3. How to order Valyuz Corporate Card?
    1. Valyuz Corporate Card can be ordered via Valyuz Corporate Account by following instructions provided therein. Once a request to issue Valyuz Corporate Card is received with Valyuz, an email to the address provided to Valyuz in Valyuz Corporate Card order form will be sent and the instructions provided therein will have to be followed to finalize ordering of Valyuz Corporate Card.
    2. Decision whether to issue Valyuz Corporate Card will be adopted by MIR Limited and thus, respectively, MIR Limited is solely entitled to reject a request to issue Valyuz Corporate Card and Valyuz will have no effect to override such decision. Valyuz will retain the right to not disclose reasons of such rejection, irrespective if Valyuz is aware of them.
    3. MIR Limited may perform any type of check that MIR Limited might see as suitable or necessary and/or ask to fill in the questionnaires, provide information or documents or perform any other actions in relation to you or the Cardholder. You will be solely responsible for complying with all such requirements. Failure to comply with such request may be subject to rejection of request to issue Valyuz Corporate Card.
  4. How Valyuz Corporate Card is delivered?
    1. Valyuz Corporate Card will be delivered by post to the address indicated in Valyuz Corporate Card order form. An email will be sent with estimated delivery time. If Valyuz Corporate Card is not received within indicated timeline, information on non-delivery of Valyuz Corporate Card must be provided to Valyuz immediately by email address at support@valyuz.com.
  5. How to add funds to Valyuz Corporate Card?
    1. Valyuz Corporate Card can only be loaded from Valyuz Corporate Account in the currency of Valyuz Corporate Card. MIR Limited will be entitled to reject any particular loading transaction.
    2. Limits may be set and lifted in relation to adding funds to Valyuz Corporate Card at any time.
    3. To load Valyuz Corporate Card, you must log into your Valyuz Corporate Account and initiate placement of funds to Valyuz Corporate Card following the instructions provided therein. Funds sent to Valyuz Corporate Card will appear on Valyuz Corporate Card within 2 (two) business days following the day of the payment order to add funds to Valyuz Corporate Card unless the loading transaction was cancelled due to whatever reason that Valyuz might not disclose to you or Cardholder irrespective if Valyuz is aware of such reasons.
    4. For clarity, adding funds to Valyuz Corporate Card from any other places than Valyuz Corporate Account is not be permitted, and any such transaction will be rejected. It is advised against circumventing the foregoing provision.
    5. The funds added to Valyuz Corporate Card will always remain of your ownership (rather than Cardholder’s).
  6. Checking balance of Valyuz Corporate Card
    1. Balance of Valyuz Corporate Card can be checked anytime by logging into the Card App.
  7. How to use Valyuz Corporate Card?
    1. Valyuz Corporate Card should be used reasonably and responsibly, in accordance with these Valyuz Card Terms and Conditions.
    2. To use Valyuz Corporate Card, the Cardholder will have to download the Card App, link to which will be provided by SMS to the Cardholder’s phone or email indicated in Valyuz Corporate Card order form or by any other available means of communication, and follow instructions indicated therein to fully set up the Card App.
    3. Valyuz Corporate Card will be issued for corporate expenditure use. The Cardholder’s use of Valyuz Corporate Card can be limited by you.
    4. Valyuz Corporate Card can be used to pay for goods and services at retailers that display the Card Scheme symbol (i.e. MasterCard).
    5. Purchases exceeding the balance available on Valyuz Corporate Card must not be made and will not be processed. Valyuz Corporate Card balance will be reduced by the amount of each purchase made. If any purchase takes over available balance or Valyuz Corporate Card limits in force, the respective transaction will be declined.
    6. Valyuz Corporate Card must not be used:
      1. For illegal purposes (for example, committing fraud);
      2. For pre-authorised regular payments;
      3. For transactions for cash (other than ATM withdrawal) including for example cash back, cash from a bank, money orders, traveller’s cheques, foreign exchange, or bureau de change;
      4. in a way that it might harm Valyuz image and reputation or Valyuz ability to offer you Valyuz Corporate Card service;
      5. only to send money to and receive money from Valyuz Corporate Card; or
      6. by on trains, ships, and some in-flight purchases.
    7. Valyuz Corporate Card or PIN can be stopped, suspended or restricted on reasonable grounds relating to:
      1. the security of Valyuz Corporate Card, Valyuz Corporate Card number, CVC or PIN, or
      2. the suspected unauthorised or fraudulent use of Valyuz Corporate Card, CVC or PIN. If possible, the Cardholder will be informed before stopping, suspending or restricting Valyuz Corporate Card, CVC or PIN that it is intended to do so and the reasons for doing this. If it is unable to do so, then the Cardholder will be informed immediately afterwards. Requirement to inform does not apply where it would compromise reasonable security measures, or it would be unlawful to do so.
    8. Neither Valyuz, nor MIR Limited will be liable for the quality, safety, legality, or any other aspect of any goods or services purchased with Valyuz Corporate Card or for the failure of any merchant to honour Valyuz Corporate Card.
    9. For other conditions in relation to usage of Valyuz Corporate Card, refer to MIR Limited terms and condition that may be obtained here: https://uk.mirlimited.com/all/mir-limited-valyuz-terms-and-conditions.html.
  8. Fees
    1. Fees applicable to you in relation to Valyuz Corporate Card are indicated in the Fee Schedule and are also available on your Valyuz Corporate Account. Check fees here.
  9. Payments with Valyuz Corporate Card
    1. Payments can be made, or cash can be withdrawn using Valyuz Corporate Card. That can be done by entering details of Valyuz Corporate Card (card number, expiry date and CVC number etc) or PIN.
    2. Any use of Valyuz Corporate Card, Valyuz Corporate Card number, CVC code or PIN will constitute authorization and consent to the transaction. For clarity, following actions will also be considered as authorization and consent to the transaction in relation to Valyuz Corporate Card:
      1. touching Valyuz Corporate Card at the terminal (a ‘contactless’ transaction) and taking other actions on the electronic card reader. No PIN code is required for contactless payments up to a certain amount;
      2. signing for the purchase on the receipt issued by the electronic card reader;
      3. inserting Valyuz Corporate Card into the electronic card reader and doing something further that the electronic card reader requests without entering your PIN code (e. g. when paying the toll, car parking lot charges, etc.); or
      4. . providing Valyuz Corporate Card number and other details and consenting to the initiation of payment orders for debiting your account when entering into an agreement with a trader or service provider.
    3. Transaction cannot be stopped after it has been transmitted by giving consent to the transaction, or once a consent to the supplier for a pre-authorised payment is given.
    4. Time of receipt of a transaction will be available on the App.
    5. Third-party service provider might refuse a transaction or suspend or terminate the right to top up Valyuz Corporate Card.
    6. For other conditions in relation to the payments by Valyuz Corporate Card, refer to MIR Limited terms and condition that may be obtained here: https://uk.mirlimited.com/all/mir-limited-valyuz-terms-and-conditions.html.
  10. Foreign currency transactions
    1. Valyuz Corporate Card can be used for transactions which are not in the currency of Valyuz Corporate Card although a fee will be applied for doing so. Should a transaction be made in a currency other than the currency of Valyuz Corporate Card, the amount will be changed into the currency of Valyuz Corporate Card at the wholesale market rate or any rate that a government may set. Charges will be applicable in relation to foreign currency transaction.
    2. For other conditions in relation to the foreign currency transaction, refer to MIR Limited terms and condition that may be obtained here: https://uk.mirlimited.com/all/mir-limited-valyuz-terms-and-conditions.html.
    3. Online statement that will be available on the Card App will show the exchange rate and service charge.
    4. Neither Valyuz, nor MIR Limited will be liable for loses in relation exchange of currency.
  11. Payment limits
    1. Limits may be imposed in relation to usage of Valyuz Corporate Card, e.g. how much can be added to Valyuz Corporate Card, or how much can be withdrawn or spent using Valyuz Corporate Card. All limits applicable to Valyuz Corporate Card will be available on Card App. Any and all limits imposed on Valyuz Corporate Card might be subject to unilateral change.
  12. Redemption
    1. Remaining balance on Valyuz Corporate Card can only be redeemed to Valyuz Corporate Account by you sending an email at the address valyuzcard@mirlimited.com. You might be requested to perform any other actions in relation to redemption of remaining balance on Valyuz Corporate Card.
    2. For other conditions in relation to redemption of remaining balance on Valyuz Corporate Card, refer to MIR Limited terms and condition that may be obtained here: https://muchbetter.com/all/mir-limited-corporate-mastercards-terms-and-conditions.
  13. Keeping Valyuz Corporate Card safe
    1. TheThe Cardholder must always make sure that the Cardholder:
      1. Does not allow anyone else to use Valyuz Corporate Card. For clarity, an obligation to ensure safety of Valyuz Corporate Card also includes a duty to secure that not only Valyuz Corporate Card security details would not be lost, stolen or misappropriated in any other way, but also not to make Valyuz Corporate Card or its security details available in any other way without physically obtaining them. It is strictly advised against allowing any other person to use the Cardholder’s Card Account. In such a case any and all consequences will be born on you and it will be considered that any and all actions on the Card Account are performed by the Cardholder;
      2. Does not reveal CVC or PIN and never write down password(s), CVC, PIN or any security information the Cardholder was given by Valyuz or MIR Limited, unless it is done in a way that would make it impossible for anyone else to recognise any of that information. Valyuz strictly advises the Cardholder against keeping Valyuz Corporate Card security details next to it and Valyuz urges the Cardholder to disguise or protect them in any other manner if the Cardholder writes them down or stores them in any other way;
      3. Only releases Valyuz Corporate Card, Valyuz Corporate Card number, CVC or PIN to make (or try to make) a transaction, and
      4. If Valyuz Corporate Card is lost or stolen or someone else finds out CVC or PIN or if the Company or Cardholder thinks Valyuz Corporate Card, Valyuz Corporate Card number, CVC or PIN may be misused, the Company or Cardholder must:
        1. Log into Card App and:
          1. inform on the loss, theft or other misuse of Valyuz Corporate Card, unless the Cardholder is aware or suspect that any other person might have unauthorised access to the Cardholder’s Card Account;
          2. freeze Valyuz Corporate Card,
        2. If not able to log into the Card App, email the following address valyuzcard@mirlimited.com without undue delay so that Valyuz Corporate Card can be stopped;
        3. If the Company or Cardholder is requested, write to the following address valyuzcard@mirlimited.com within seven days to confirm the loss, theft or possible misuse, and
        4. stop using Valyuz Corporate Card, Valyuz Corporate Card number, CVC or PIN immediately. If the Cardholder finds Valyuz Corporate Card after it was reported lost, stolen or misused, the Cardholder must cut it up and report to MIR limited as soon as possible can by email at the address valyuzcard@mirlimited.com.
      5. If Valyuz Corporate Card or any replacement card, is lost or stolen, once it has been reported, replacement can be requested. Issuance of such replacement will be charged a fee.
  14. Cancelling Valyuz Corporate Card
    1. Valyuz Corporate Card can be cancelled anytime by you sending an email to the address valyuzcard@mirlimited.com. MIR Limited may ask you to perform other actions in relation to cancelation of Valyuz Corporate Card and you must comply with such request.
      Should you employ such a right, remaining balance on Valyuz Corporate Card will be redeemed to Valyuz Corporate Account in the currency the same as of Valyuz Corporate Card or if such currency not available on Valyuz Corporate Account, remaining balance will be exchanged to euro.
    2. If you decide to cancel Valyuz Corporate Card, you will still owe any money that you owed before cancelling Valyuz Corporate Card. By accepting these Valyuz Corporate Card Terms and Conditions, you hereby unilaterally and irrevocably consent that any amounts that you might owe in relation to use of Valyuz Corporate Card will be offset against the remaining balance on Valyuz Corporate Card before cancelling Valyuz Corporate Card.
      In case, balance on Valyuz Corporate Card is insufficient to settle outstanding debt in relation to use of Valyuz Corporate Card, you hereby unilaterally and irrevocably consent that any such outstanding amount that you might owe in relation to use of Valyuz Corporate Card will be offset against your Valyuz Corporate Account.
    3. For clarity, taking into consideration Art. 14.2, in case of insufficient balance on Valyuz Corporate Card or Valyuz Corporate Account, after cancellation of Valyuz Corporate Card you will still owe any and all outstanding amounts that you might owe in relation to usage of Valyuz Corporate Card and you will be obliged to settle all such outstanding amounts.
    4. For other conditions in relation to cancelling Valyuz Corporate Card, refer to MIR Limited terms and condition that may be obtained here: https://muchbetter.com/all/mir-limited-corporate-mastercards-terms-and-conditions.
  15. When Valyuz Corporate Card expires
    1. Expiry date of Valyuz Corporate Card will be printed on it. Valyuz Corporate Card must not be used after its expiry date, and Valyuz Corporate Card will not be able to be reloaded after that date.
    2. If Valyuz Corporate Card has been used in the period of two weeks before its expiry date, you and the Cardholder will be sent an email informing that the outstanding balance on Valyuz Corporate Card will be automatically transferred to newly issued Valyuz Corporate Card. Fee for issuance of a new Valyuz Corporate Card will applicable. Newly issued Valyuz Corporate Card will be sent to the last known Cardholder’s address, not later than expiry date of Valyuz Corporate Card. Should you not want Valyuz Corporate Card to be renewed, you have to inform Valyuz by email to the address support@valyuz.com not later than 2 (two) weeks before the expiry of your Valyuz Corporate Card.
    3. If Valyuz Corporate Card has not been used within eight weeks prior to its expiry date, you will receive and email asking if to replace Valyuz Corporate Card and keep any existing balance on it. Should it be requested Valyuz Corporate Card to be replaced, a replacement will be issued within two weeks, fee will be applicable for such issuance.
    4. If Valyuz Corporate Card is renewed, these Valyuz Corporate Card Terms and Conditions will continue in full effect.
    5. If it is requested not to renew or replace Valyuz Corporate Card, it will not be available for use after its expiry date.
  16. Communication with Valyuz
    1. You should contact Valyuz by email support@valyuz.com or via Valyuz Corporate Account regarding (a) issuance (ordering, arrival/non-arrival) of Valyuz Corporate Card; (b) renewal of Valyuz Corporate Card; and (c) cancelling of Valyuz Corporate Card and fees in relation to any of the foregoing. Regarding other issues in relation to Valyuz Corporate Card, approach to MIR Limited by email at the address valyuzcard@mirlimited.com.
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