IMPORTANT INFORMATION: Please read this Agreement carefully before activating your Account.
|"Account"||thepre-paid electronic money account associated with a Card|
|"Account-holder"||the person who has applied successfully for an Account and has been issued at least one Card by us and who is the legally and financially responsible person for the Card(s), Account and e-money;|
|"Additional Card"||any additional card which is issued to a person any time after the successful registration of an Account;|
|"Additional Cardholder"||a person who holds an Additional Card;|
|"Agreement"||this agreement of open-ended duration between you and us incorporating these terms and conditions, as amended from time to time;|
|"Available Balance"||the value of unspent e-money loaded onto your Account and available to use;|
|"Card"||any or all of the following, as the context suggests: (1) a Primary Card (2) an Additional Card (3) a Virtual Card; (4) a Physical Card; and (5) any card provided by us to you as replacement for a Card;|
|"Account-holder"||the person who has applied successfully for an Account and has been issued at least one Card by us; the legally and financially responsible person for the Card(s), Account and e-money;|
|"Fees & Limits Schedule"||the schedule herein;|
|"Fee"||any fee payable by the Cardholder, as referenced in the Fees & Limits Schedule;|
|"KYC"||Know Your Customer, requirements for knowledge of and information on customers of regulated entities or for regulated activities;|
|"Merchant"||a retailer or any other person that accepts emoney;|
|"Physical Card"||a pre-paid electronic payment card which may be used for on-line and off-line Transactions;|
|"Primary Card"||the first Card issued by us to the Account-holder in response to registration of his Account, this can include either a Virtual Card and/or a Physical Card;|
|"Reload"||to add money to your Account;|
|"System Provider"||MasterCard or Visa as the case may be and as shown on your Card;|
|"Transaction"||(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 Account, 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 Physical Card plus any transaction fees charged by ourselves or any third party in connection with your cash withdrawal;|
|"User"||the person authorised to use a Card;|
|"Username and Password"||A set of personal codes selected by Account-holder to access their Account;|
|"Virtual Card"||a non-physical pre-paid electronic payment card, the use of which is limited to on-line purchases or on the phone or mail order;|
|"we", "us" or "our"||Transact Network Limited of Suite 11, Victoria House, 26 Main Street, Gibraltar including its successors and assigns;|
|"you" or "your"||the Account-holder and/or, any person over 18 years of age who has been provided with a Card by the Account-holder for use as an Additional Cardholder in accordance with these Terms and Conditions.|
Your Account can be managed online at www.magnumcards.com or call +390555608114.
We will not send you a paper statement. However, you the Cardholder can check your Available Balance and Transaction history at any time by logging on to your account. This online service is free and in English,You can subscribe to different forms of account statements there.
You have a right to withdraw from this Agreement under the following conditions:
you have a "Cooling Off" period of 14 days beginning on the date of the successful registration of your Account to withdraw from this Agreement and cancel the Card(s) and Account, without any penalty or charge. You must contact us within this 14 day period and inform us that you wish to withdraw from this Agreement. If so, we will cancel the Card(s) and Account and reimburse the amount of Available Balance on the Account to the Account-holder. However, we reserve the right to hold Available Balance for up to 30 business days from receipt of your instructions before returning the balance, to ensure that details of all transactions have been received. If you used a credit or debit card to purchase and/or load your Card or Account, we may hold your funds for 181 days to prevent any chargeback of your credit or debit card.
after the Cooling Off period you may only cancel the Card(s) and Account as described in clause 9 above
We may update or amend these terms and conditions (including our Fees & Limits Schedule). Notice of any changes will be given on the website or by notifying the User by e-mail or by means of mobile device at least 60 days in advance. By continuing to use your Card or Account after the expiry of the 60 day notice period, you acknowledge that you indicate your acceptance to be bound by the updated or amended terms and conditions. If you do not wish to be bound by them, you should stop using your Card and Account immediately and your Card(s) and Account in accordance with our cancellation policy (see clause 9). In such circumstances, you will not be charged an Account Closure Fee.
Physical card € 35.00, Additional physical card € 15.00, Primary virtual Card € 9.95, Additional Virtual Card € 9.95
Point of sale transaction € 0.50, ATM withdrawal € 2.50, Foreign exchange charge 2.50%, Bank cash withdrawal € 5.00, Pin change € 2.50, ATM balance inquiry € 0.50, ATM withdrawal decline € 0.50, TNL card to card money share out € 1.50, Bank transfer outgoing (€, domestic or SEPA) € 2.50, International bank transfer outgoing (non €, outside EU/EEA) € 50.00
Domestic, SEPA bank transfer, bank cash deposit 2.00%, International bank transfer 2.50%, iDeal 3.00%, giropay 2.50%, DIRECTebanking.com 3.50%, EPS 5.00%, Credit / debit card 5.50%, TNL card to card money share in € 1.50
Account closure per card € 10.00, Account closure additional card € 2.50, Temporary card suspension € 5.00, Chargeback processing € 25.00, Replacement card € 15.00, Cash back € 20.00, Monthly statement mailed € 2.50, Higher ID verification level (IDV Level 2) € 2.00, Higher ID verification level (IDV Level 3) € 10.00, SMS € 0.50
Maintenance fee € 2.95**
We apply own loading limits to your Account dependent on card type, IDV level, load method used as well as certain internal risk management criteria; in certain cases we may not credit loads to your account immediately but only after a reasonable period to avoid misuse of your account,
Your Physical Card can be used to make cash withdrawals from ATMs and banks who agree to provide this service, up to a total of (subject to any maximum set by the relevant ATM operator or bank), unless we inform you otherwise € 2,400 per day, The maximum individual transaction € 800, maximum number of ATM transactions a day 3,
* Please note that in some cases, the operator of an ATM may charge its own separate fee for the use of the ATM, which fee will also be deducted from the Available Balance.
** If you have more than one Card, this fee will apply for each Card.