- Preamble
The terms set out in Customer Agreement Banking Business apply to the Clients use of the Card. This Additional Terms is an addendum to, and must be read together with, the Customer Agreement, setting out the basic terms.
- Card Issuing Terms
2.1 These are the term and conditions on which FinHub is providing Cards to the Clients.
2.2 It is important the Clients to read this Card Issuing Terms, together with the documents referred to in it. In this way the Clients can acknowledge FinHub aims, features of the Card and the way the Clients may use it, how this Card Issuing Terms may be changed or terminated, how to proceed when there is a problem etc.
2.3 By applying for, or using the Card, the Clients confirm that they accept and agree to this Card Issuing Terms. If Clients do not agree, it is recommended to not apply for, or use the Card.
2.4 Clients always can see the most current version of this Card Issuing Terms on the website of FinHub, in the section regarding Business Banking.
2.5 In this Terms, the definition of Card has meaning of the Client’s FinPay Card (including any replacement card as applicable) in alignment with the traits as set out below in clause 3.
- The Card
3.1 The FinPay Card is issued by UAB Sonect Europe, a company incorporated under the laws of Republic of Lithuania, with company number 305152431. Hereinafter is referred to as “FinHub’s EMI partner” or “EMI partner”.
3.2 UAB Sonect Europe is an Electronic Money Institution authorised by the Bank of Lithuania, holding EMI license number 47, issued by the Bank of Lithuania on 2019-04-25.
3.3 FinPay Card is linked to Client’s FinHub Account, which is an electronic money account and is not a bank account. However, FinHub’s EMI partner follows the requirements under the EU Electronic Money Directive 2009/110/EC and all the applicable legislation which are designed to ensure the safety of funds held in electronic money accounts like your FinHub Account.
3.4 A scope of the essential features and information about Client’s Card, including any applicable fees, is set out here. If your FinHub Account is a business account, you may only use your Card for business purposes and not personal purposes. Certain transactions for getting cash or cash equivalents (such as ATM withdrawals, getting cash from a merchant or bank, money orders, foreign exchange or bureau de change), and account funding transactions where the Card is used to fund e-wallets and accounts or items which may be convertible to cash (such as casino chips, cryptocurrencies and lottery tickets), may incur additional fees, refer to Pricing List and Offerings for details.
3.5 When Client changes profile address to a new country, the existing Cards will continue working in the same manner and will be subject to the same fee structure, up until the Client orders a new FinPay Card. When Client changes profile address to a new country and order a new FinPay Card, all the new and existing Cards associated with the Client’s profile will be subject to the fee structure for transactions for getting cash or cash equivalents of the newest FinHub’s contracting party.
3.6 FinHub carrying out verification checks when Clients applies for a FinHub Account and may carry out further checks on an ad-hoc basis. Based on these checks it may increase the needed time to process Client’s order for a FinPay Card. In that context, FinHub cannot be responsible for any delays because of carrying out those checks. In a case a Client has paid a fee for FinPay Card but does not meet FinHub verification checks, FinHub will cancel Client’s FinPay Card and refund the fee paid by the Client for the Card within 14 days of FinHub’s decision to not open Client’s Account.
4.Transferring money to the FinPay Card
4.1 FinPay Card is linked to and supported by Client’s FinHub Account. The Client can transfer money by uploading money to the FinHub Account. More detailed information is in the Customer Agreement Banking Business
5. FinPay Card purposes
5.1 FinPay Card is a debit device intended to be used for the payment of goods and services online, in person or over the phone. The Card can be used to withdraw money from ATMs worldwide. The FinPay Card is not a guaranteed card, charge card or credit card.
5.2 When the Client receives the Card, the Client must sign the back of it as soon as of receiving it and keep it safe. The activation of the FinPay Card will be executed by following the instructions in the App or on FinHub Website. The Card PIN is a 4-digit code that the Client will be asked to enter when making a payment using the Card.
5.3 The Client may hold balances in different currencies in the FinHub Account. If Client is making a payment or withdrawing funds in a currency held in the account, the payment will be made from that balance. If Client is making a payment or withdrawal in a currency, not hold in the FinHub account, FinHub will convert the amount applying the respective rate and fee to a balance that the Client holds. If the Client is making a payment or withdrawal in a currency that FinHub does not support, we will convert the amount at the current Mastercard or Visa rate.
5.4 In a case of receiving a refund on a card payment in a supported currency, FinHub will credit Client’s account in the specific currency. If Client receives a refund in a currency we do not support, FinHub will first convert the amount at the current Mastercard or Visa rate to a supported currency and then credit Client’s account. It is really important to raise awareness that FinHub may need to activate a currency in the Client’s account in order to credit the refund.
The following
5.5 The Client must not make purchases exceeding the amount of the available electronic money in the Client’s FinHub account. The transaction will be declined if any purchase takes over Client’s available funds or the card limits in force.
5.6 At our reasonable sole discretion, FinHub may decline the use of Client’s FinPay Card for the following cases including, but not limited to:
pre-authorised regular payments;
transactions at self-service petrol pumps;
transactions for cash (other than ATM withdrawal) including for example cash back, cash from a bank, money orders, foreign exchange, or bureau de change, or any illegal purposes;
where it is not possible for the supplier of the service or good to obtain online authorization that Client has sufficient balance for the transaction (for example: transactions on trains, ships, and some in-flight purchases).
5.7 FinHub is not responsible for the safety, legality, quality or any other goods or services purchased with the FinPay Card. In that context also, FinHub is not liable for any loss arising from any merchant refusing to accept FinPay Card, or any ATM failing to provide cash. The Client is responsible for losses arising from gross negligence, or failing to conduct adequate due diligence on the person you transact with.
5.8 FinHub can close or suspend the account can be suspended or closed at any time, and to be suspended or canceled Client’s FinPay Card, if the activity on the Card appears suspicious, fraudulent or we believe it to relate to criminal activity or activity which is contradicting with FinHub Agreements. Unusual or multiple purchases may prompt a merchant inquiry or Card suspension that is necessary to allow us to investigate such activity. In its sole discretion, FinHub reserves the right to limit Client’s use of the Card. We may refuse to issue or replace a Card or may revoke Card privileges, other than as required by applicable law. The Client agrees not to use or allow others to use an expired, revoked, cancelled, suspended or otherwise invalid Card. FinHub will not incur liability to the Client because of the unavailability of the funds that may be associated with Client’s Card or Account.
5.9 In a situation the Client notices a refund has been received twice for the exact same transaction, from FinHub and the merchant, Client is required immediately to let us know, and we always reserve the right to debit back a previously issued refund when a refund for the same transaction has been provided by the merchant as well, without prior notice.
5.10 In case of disputed card transactions, FinHub may (subject to any restrictions under applicable law) decide not to proceed with chargebacks at its sole discretion. Reasons for this might include not receiving sufficient information to determine that an error occurred; not receiving a notification about the payment error in a timely manner; disputes being caused by the risky nature of transactions undertaken with the business debit card.
6. Transactions
6.1 The Client authorizes every transaction. The Client agrees that any use of the FinPay Card, card number or PIN constitutes authorization and consent to a transaction.
6.2 Where there are multiple cardholders within the same business account, any transaction authorized by any one of the cardholders is deemed to be effectively authorized by the Business.
7. When FinPay Card expires
7.1 As every debit card, FinPay Card has also an expiry date. The Client can only use the card up until the expiry date which will be shown on the front of FinPay Card and/or in the App.
7.2 FinHub will provide the Client with new card details to use 2 months before the expiration of the current card. The Client must confirm the address to which would like the card to be sent to. A replacement card fee may applicable.
7.3 If the Client does not want the Card to be renewed, can simply let it expire without ordering a replacement. The FinPay Card will be deactivated and the Client will not be able to use it after its expiry. Any outstanding balance in the FinHub Account will remain usable by the Client in accordance with the terms and conditions of the Customer Agreement.
8. FinPay Card Safety
8.1 It is important the Client to keep FinPay Card safe, never letting another party use the Card, and keep it safe. Memorize Card’s PIN and never disclose this and other security information to anyone. Sharing these details can lead to unauthorized access to Client’s account and the Client will be solely responsible for transaction(s) made in this situation. FinHub will not be liable for any loss arising due to any such unauthorized transaction(s).
8.2 It is important the Client to keep FinHub account safe.
8.3 The Client must check the transaction history regularly. FinHub rely on the Client to regularly check on the account history and contacts FinHub in a case of unauthorized or incorrect transactions.
8.4 The Client must always report any suspicious incidents. If the FinPay Card is lost or stolen, if the Client suspects that someone else knows Card’s PIN, or if the Client thinks that the Card, card number or PIN may be misused, the Client agrees to stop using the Card and contact FinHub immediately. If the Client finds the Card after reported it lost, stolen or misused, the Client must cut it up and tell FinHub as soon as possible.
8.5 If the Card, or any replacement card, is lost or stolen, the Client can request a replacement. FinHub will charge a fee for the replacement Card.
8.6 Disclosure of information to law enforcement authorities. If FinPay Card is used without Client’s permission, or is lost, stolen or if the Client suspects the Card may be misused, FinHub may disclose to law enforcement agencies any information which FinHub reasonably believes may be relevant.
9. Cancellation rights
9.1 The Client may cancel the FinPay Card at any time without notice and with no charge by logging into FinHub account or through the App. The Client may close the Account in accordance with the Customer Agreement. If the Client decides to cancel the Card within 14 days of applying for FinPay Card, and the Client has paid a fee for the Card, FinHub will refund Client that fee. FinHub will not refund Client any fee paid to FinHub, including a fee paid for the Card, if FinHub reasonably believes the Client has breached the terms of this Agreement, the Customer Agreement or any applicable law.