Magnum Prepaid MasterCard® TERMS AND CONDITIONS

Last modified: March 17 2011

IMPORTANT INFORMATION: Please read this Agreement carefully before activating your Account.

1. Definitions & Interpretation:

   "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.

2. Contact Us:

   Your Account can be managed online at www.magnumcards.com or call +390555608114.

3. Your Agreement, Card and Account

   1. We are incorporated in Gibraltar under registration number 96561 and licensed by the Gibraltar Financial Services Commission under the Gibraltar Financial Services Banking Act as an e-money institution.
   2. We are licensed as a principal member with the System Providers.
   3. MasterCard is a registered trademark of MasterCard International Incorporated. Visa is a registered trademark of Visa International.
   4. These terms and conditions govern the relationship between us and you for the provision of your Card and Account and apply to the provision of all services provided by us to you. This Agreement also contains important warnings and information that may affect your rights and your ability to recover your money. By activating your Account, you shall be deemed to have accepted and fully understood the terms and conditions set out in this Agreement and you agree to comply with these by your use of the Card and/or by indicating your acceptance.
   5. Your Card is not a credit card and is not issued by a bank. When you purchased your Card, you had the option of a Virtual Card, a Physical Card or both. If you purchased a Virtual Card, you may upgrade for a fee at any time to a Physical Card. When you upgrade, you will have the option of keeping your Virtual Card account open or closing it and only using your Physical Card. Regardless of the type of Card(s) you have, you will have only one Account where your Available Balance is located.
   6. Your Account will not be activated unless we have been provided with the required information so that we may identify you and we comply with all applicable KYC and anti-money laundering requirements. We shall keep records of such information and documents in accordance with all applicable legal and regulatory requirements.
   7. You may Reload your Account subject to the limits provided by the Fees & Limits Schedule. We reserve the right to vary these limits and to decline any Reload at any time. A Reloading Fee applies.
   8. Reference to a currency (e.g. Euros € or Sterling £) shall mean that amount or the local currency equivalent in which your Card is denominated.
   9. The Available Balance on your Account will not earn any interest.
   10. As your Account is a prepaid e-money account and not a credit or bank account, you must ensure that you have a sufficient Available Balance loaded on your Account to pay for each purchase, payment or cash withdrawal that you make using your Card (including value added tax and any other taxes, charges and fees that are applicable). If for any reason a Transaction is processed with your Card where the Transaction amount exceeds the Available Balance on your Account, you must repay us the amount of such excess immediately and we shall be entitled to stop any existing or subsequent Transaction from proceeding.
   11. This Agreement does not give you any rights against a System Provider, its affiliates or any third party.
   12. The Cards remain our property at all times.
   13. Only persons over 18 years of age are entitled to register for an Account. However, if you are the Account-holder you may allow the Card and Account to be accessed by your own child (or a child of whom you are the legal guardian) who is between 13 and 18 years of age in accordance with clause 4.6. Transactions by persons under 18 years of age may not be allowed by some Merchants. In all cases, you shall be responsible for any use of the Card or Account by such persons.

4. Use of your Card and Account

   1. You can use your Card up to the amount of the Available Balance to enter into Transactions at Merchants of the relevant System Provider, including Transactions with Merchants over the internet, by phone or mail order. If the Available Balance is insufficient to pay for the Transaction, some Merchants will not permit you to combine use of the Card with other payment methods.
   2. Your Card can be used to make cash withdrawals from ATMs and banks who agree to provide this service, as listed in the Fees & Limits Schedule (subject to any maximum set by the relevant ATM operator or bank), unless we inform you otherwise.
   3. The value of each Transaction and the amount of any fees or charges payable by you under this Agreement will be deducted from the Available Balance.
   4. Once a Transaction is effected it cannot be withdrawn. We will ensure transfer of the payment to the payment service provider of the Merchant within three business days. If the payment service provider of the Merchant is located outside the EEA, we will effect payment as soon as possible.
   5. In order to protect you and us from fraud, Merchants and ATM operators will seek electronic authorisation before processing any Transaction. If a Merchant or ATM operator is unable to get an electronic authorisation, they may not be able to authorise your Transaction.
   6. We may refuse to authorise any use of your Card which could breach these terms and conditions or if we have reasonable grounds for suspecting that you or a third party have committed or are planning to commit fraud or any other illegal or un-permitted use of your Card or Account.
   7. Your Card and Account will incur fees based upon the Fees & Limits Schedule. A Transaction Fee is payable in respect of each Transaction. A Cash Withdrawal Fee is payable in respect of cash withdrawals made at ATMs using your Card. In addition, your withdrawal may also be subject to any applicable fees, rules and regulations of the relevant ATM operator or bank. It is your responsibility to check whether any such additional fees apply, as they cannot be refunded once the cash has been withdrawn.
   8. As the Account-holder, you may apply to us for up to 3 Additional Cards, for use by Additional Cardholders on your account. Additional Cardholders whom are your children or you are their legal guardian must be 13 years old or older and Additional Cardholders whom are not your children or you are not their legal guardian must be 18 years or older. It is a condition of any registration for an Additional Card that you, as the Account-holder, acknowledge that we accept no responsibility or liability of any kind whatsoever for use of any Additional Card by any Additional Cardholder for illegal Transactions and/or Transactions not authorised by you.  If you successfully register, we will send you an Additional Card, for which we will charge an Additional Card Fee, including any per Card Maintenance Fees. Upon receipt of the Additional Card, you may give the Additional Card to the Additional Cardholder for their use, subject to:
      1. you providing them with a copy of these terms and conditions (which will then bind both of you);
      2. the Additional Card then being used only by that person;
      3. you retaining the Primary Card;
      4. you informing the Additional Cardholder that you have retained the Primary Card and that you are still able to use the Account;
      5. us obtaining such further information and documentation in order to enable us to comply with all applicable KYC and anti-money laundering requirements.
   9. You (the Account-holder) will remain responsible for the use of the Cards and the Account, and for any fees and charges incurred by the Additional Cardholder(s), and you will continue to be regarded as the holder of any e-money already or subsequently loaded on the Account. The use of a Card in relation to which an Additional Cardholder has been registered will be regarded as confirmation that you have provided the Additional Cardholder with these Terms and Conditions and they have accepted them. You will remain responsible for any Transactions, cash withdrawals from ATMs, fees and charges incurred by your Additional Cardholders. Your Cards will have a shared purse which all transactions will be deducted from.
   10. Your ability to use or access your Card and Account may occasionally be interrupted, for example if we need to carry out maintenance on our systems. Please contact Customer Services via our website to notify us of any problems you are experiencing using your Card and we will endeavour to resolve any problem.
   11. If enabled, you will have the option to transfer your Available Balance from your Card or Account to other Cards and Accounts. If you instruct us to make a transfer from your Account to another Account, the requested amount will be debited from your account and credited to the account you have instructed us to transfer your Available Balance to. You will incur an Account Transfer Fee for this transaction.

5. Condition of Use at Certain Merchants

   1. In some circumstances we or Merchants may require you to have an Available Balance in excess of the Transaction amount. For example, at restaurants you may be required to have 15% more on your Card than the value of the bill to allow for any gratuity or service charge added by the restaurant or you.
   2. In some circumstances Merchants may require verification that your Available Balance will cover the Transaction amount and initiate a hold on your Available Balance in that amount, examples include rental cars. In the event a Merchant places a pre-authorization on your Account, you will not have access to these funds until the Transaction is completed or released by the Merchant.
   3. If you use your Card at a fueling station, subject to Merchant acceptance, your Card will need to be pre-authorized for €50 or more. If you do not use the whole pre-authorisation or do not have Available Balance to obtain a pre-authorization, it is possible that the pre-authorised amount will be held for up to 30 days before becoming available to you again.
   4. Some Merchants may not accept your Card. It is your responsibility to check the policy with each Merchant. We accept no liability if a Merchant refuses to accept your Card.

6. Managing & Protecting Your Account

   1. You are responsible for your Card, any Username, PIN number and Account passwords. Do not share your Card or Account details or number with anyone.
   2. You should keep a secure record of your Card number, in case you lose it. Do not share your Card number with anyone.
   3. You must keep your Account, PIN, Username and Password safe, and separate from your Card or any record of your Card number and not disclose it to anyone else. This includes:
      1. memorising your PIN as soon as you receive it, and destroying the post mail or other authorized communication used to transmit it to you;
      2. never writing your PIN on your Card or on anything you usually keep with your Card;
      3. keeping your PIN secret at all times, including by not using your PIN if anyone else is watching;
      4. not disclosing your PIN to any person, except that you may disclose the PIN orally (but not in writing) to a person authorized (by clause 4.6) to use your Card or Account
   4. The user of the Card(s) must sign the signature strip on any Physical Card immediately when received. If your Card permits cash withdrawals (see Clause 3.3), we will provide the Account-holder by post or other approved method with a Personal Identification Number (PIN) for use with your Card. You will need this PIN in order to make cash withdrawals from an ATM or at a bank.
   5. If you forget your PIN, you should contact Customer Services for a replacement PIN, which will be sent out to the Account-holder. A Pin Replacement Fee will be charged if your PIN has to be remailed to you due to failure to keep us notified of your correct primary address.
   6. The Account-holder already held or created a Username and Password when ordering a Primary Card. You will need this Username and Password to perform the following functions in relation to your Card or Account online:
      1. changing your registered details;
      2. checking the amount of Available Balance;
      3. checking Transaction details;
      4. requesting an upgrade or Additional Card (when available);
      5. reporting your Card as lost or stolen;
      6. changing your Username or Password.
   7. The Card and Account may only be used by the Account-holder or any Additional Cardholder.
   8. Other than as specified in 6.7 , you must not give the Card to any other person or allow any other person to use the Card or Account. You must keep the Card in a safe place.
   9. Failure to comply with clause 6.3 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 clause 13
   10. If you believe that someone else knows your Account or Card details, you should contact us immediately.
   11. Once any Card on your Account has expired or if it is found after you have reported it as lost or stolen you agree to destroy your Card(s) by cutting them in two through the magnetic strip.

7. Identity Verification

   1. If you enter into Transactions over the internet, some websites require you to enter your name and address. In such cases you should supply the most recent address which has been registered with us by the Cardholder as the Account address. The Account address is also the address to which we will send any correspondence.
   2. The Account-holder must notify us within 7 days of any change in the Account address or your other contact details. You can notify us by updating your profile online or by contacting Customer Services who may require you to confirm such notification in writing. You will be liable for any loss that directly results from any failure to notify us of such a change as a result of undue delay, your gross negligence or fraud. We will need to verify your new Account address and shall request the relevant proofs from you.
   3. We reserve the right at any time to satisfy ourselves as to your identity and home address (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 Account, you authorize us to perform electronic identity verification checks directly or using relevant third parties.

8. Communications Regarding Your Account

   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.

9. Cancelling your Card(s) and/or Account

   1. If you are the Cardholder and you wish to cancel the Card(s) and Account at any time, you must request cancellation online by informing us of your wish to cancel and to claim a refund of your e-money value. Our Customer Services department will then suspend all further use of your Card(s) and Account.
   2. Once we have received all the necessary information from you and all Transactions and applicable fees and charges have been processed, we will refund to the Cardholder any Available Balance less any fees and charges payable to us, provided that:
      1. your Available Balance is greater than  € 10.00;
      2. you have not acted fraudulently or with gross negligence or in such a way as to give rise to reasonable suspicion of fraud or gross negligence; and
      3. we are not required to withhold your Available Balance by law or regulation, or at the request of the police, a court or any regulatory authority.
   3. If your request to cancel your Card is received within 12 months of initial application, we may charge an Account Closure Fee as set out in the Fees & Limits Schedule. You will not be entitled to any refund of any Available Balance where the amount is less than specified in term 9.2.i. Once your Card(s) and Account have been cancelled, it will be your responsibility to destroy your Card(s).
   4. If, following reimbursement of your Available Balance, any further Transactions are found to have been made or charges or fees incurred using the Card(s) or we receive a reversal of any prior funding transaction, we will notify the Cardholder of the amount and you must immediately repay to us such amount on demand.
   5. We will transfer the Available Balance, less any deductions referred to above, to the Account-holder by cheque or telegraphic transfer (less any bank charges) to your nominated bank account in your name. We may agree with you to transfer the Available Balance to you by another payment method.

10. Right to Cancel

    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

11. Card Expiration and disposition of Funds

    1. Your Card has an expiry date printed on it. If a Card expires before your Available Balance is exhausted, the Account-holder can contact to request a replacement Card, provided you do so 90 days before the expiry date and subject to payment of a fee.
    2. You may not use your expired Card(s) after the expiry date.
    3. The value (e-money) on your Account will no longer be usable 12 months following the expiry date of the most recent Card that was issued under the Account ("Expiry Period"). Subject to an Account Closure Fee, we will issue a refund of any Available Balance to a bank account in the Account-holder’s name if you contact us within 12 months from the Expiry Period. We will not return any Available Balances requested more than 12 months after the Expiry Period.
    4. We reserve the right to issue you with a replacement for an expired Card even if you have not requested one. If we do so, clause 11.3 will not apply. If you have not requested a replacement Card, you will not be charged a Card Replacement Fee as set out in the Fees & Limits Schedule.

12. Termination or Suspension of Your Account

    1. We may terminate or suspend, for such period as may reasonably be required, the use of your Card and Account at any time, without prior notice:
       1. in the event of any fault or failure in the data information processing system;
       2. if we reasonably believe that you have used or are likely to use your Card or Account, or allow them to be used, in breach of this Agreement or to commit an offence or that any Available Balance on your Account or the account of any other Card issued by us to you may be at risk of fraud or misuse;
       3. if we suspect that you have provided false or misleading information;
       4. where we have reasonable grounds for doing so; or
       5. by order or recommendation of the police or any relevant governmental or regulatory authority.
    2. If we terminate the use of your Card and Account, we will refund the Available Balance to the Cardholder, subject to satisfactory proof of identity and applicable checks, unless we are required to withhold the Available Balance by law or regulation or at the request of the police, a court or any regulatory authority.
    3. If any Transactions are found to have been made or charges or fees incurred using your Card after any action has been taken by us under clause 12.1, the Cardholder must immediately repay such amounts to us.

13. Loss or Theft of your Card.

    1. You are responsible for protecting your Card and Account as if they were cash.
    2. You should treat your Card like cash in your wallet and look after it accordingly. If you lose your Card or it is stolen, you may not be able to recover the funds (e-money) on your Account, in just the same way as you would usually not be able to recover cash which you lose or which is stolen from you.
    3. If your Card is lost or stolen or if you think someone is using your Card or your Account without your permission or if your Card is damaged or malfunctions:
       1. you must contact us as soon as possible and you must provide us with your Card number and either your Username and Password or some other identifying details acceptable to us so that we can be sure we are speaking to you; and
       2. provided we have obtained the Account-holder’s consent to close the Account, we will then provide the Cardholder with a replacement Card with a corresponding new Account loaded with an amount equivalent to your last Available Balance.
    4. The Account-holder will be liable for the first €65 (£50) of losses arising from any Transactions that take place prior to your notifying us (whether or not they were made with your permission). You will not be held liable for any losses once you have notified us of loss or theft unless we reasonably determine that you have acted in accordance with clause 15.1.ii.f - in which case you shall be liable for all losses.
    5. Once we have been notified of any loss or theft, we will suspend the Card(s) and Account as soon as we are able, to limit any further losses. We can only take steps to prevent unauthorised use of the Card(s) and Account if you can provide us with the Card number and Username and Password or if you can produce sufficient details to identify yourself and the relevant Account.
    6. If we decide to refund any Available Balance to the Cardholder rather than make it available on the Card or a Replacement Card, this will be paid to you in accordance with the Fees & Limits Schedule (and we may charge you an Account Closure Fee as referenced therein) and in accordance with clause 9.5.
    7. Cards will be posted to the most recent Account address registered by the Cardholder. Failure to provide the correct address will result in a Card Replacement Fee.
    8. If you subsequently find or retrieve a Card that you have reported lost or stolen, you must immediately destroy the Card by cutting it in half through the magnetic stripe.
    9. You agree to help us, our agents, regulatory authorities and the police if your Card is lost, stolen or if we suspect that the Card or Account is being misused.

14. Fees & Foreign Exchange

    1. Your account will incur fees and charges as set out in the Fees & Limits Schedule for which you shall be responsible.  These vary from time to time in accordance with that Schedule.
    2. We will deduct any value added tax, and other taxes, charges and fees due by you to us from the Available Balance. If there is no Available Balance, or value added tax and other taxes, charges and fees incurred exceed the Available Balance, you must pay us the excess immediately.
    3. If you use your Card for Transactions in a currency other than the currency in which your card is denominated, the amount deducted from your Available Balance will be the amount of the Transaction converted to your Account currency using a rate set by the System Provider on the date the Transaction is processed. Please refer to the MasterCard or Visa website (as applicable) for more information. You may also be charged a Foreign Exchange Charge as set out in the Fees & Limits Schedule.

15. Our liability

    1. Subject to clauses 15.2 and 13.4;
       1. neither party shall be liable to the other for indirect or consequential loss or damage (including without limitation loss of business, profits or revenues), incurred in connection with this Agreement, whether arising in contract, tort (including negligence), breach of statutory duty or otherwise;
       2. we shall not be liable:
          1. if you are unable to use your Card or Account as set out or for any reason stated in clauses 4 and 5
          2. for any fault or failure beyond our reasonable control relating to the use of your Card or Account, including but not limited to, a lack of Available Balance or fault in or failure of data processing systems;
          3. if a Merchant refuses to accept a Transaction or fails to cancel an authorization or pre-authorization;
          4. for the goods or services that you as the Cardholder purchase with your Card;
          5. for any loss, fraud or theft that is reported more than 13 months following the event;
          6. where you acted with undue delay, fraudulently or with gross negligence (including where losses arise due to your failure to keep us notified of your correct personal details).
    2. To the fullest extent permitted by relevant law and subject to clause 13.4, our total liability under or arising from this Agreement shall be limited as follows:
       1. where your Card is faulty due to our default, our liability shall be limited to replacement of the Card or, at our choice, repayment to you of the Available Balance;
       2. where sums are incorrectly deducted from your Available Balance due to our fault, our liability shall be limited to payment to you of an equivalent amount; and
       3. in all other circumstances of our default, our liability will be limited to repayment of the amount of the Available Balance.
    3. Nothing in this Agreement shall exclude or limit either Party's liability in respect of death or personal injury arising from that party's negligence or fraudulent misrepresentation.
    4. No party shall be liable for, or be considered in breach of this Agreement on account of, any delay or failure to perform as required by this Agreement as a result of any causes or conditions which are beyond such Party's reasonable control and which such Party is unable to overcome by the exercise of reasonable diligence.
    5. In the unlikely event that we become insolvent, your Card(s) and the Available Balance on your Account may lose their value and become unusable, and accordingly you may lose any e-money loaded onto your Account.

16. Payment Disputes

    1. If you (the Cardholder) believe that a deduction has been made from your Available Balance by mistake or you wish to make a complaint, you should contact us immediately:
       1. in relation to a Transaction or deduction you must contact us within 30 days and confirm the disputed Transaction by writing, setting out full details of the Transaction and your reason for disputing it. We may charge you a Chargeback Processing fee as referenced in the Fees & Limits Schedule for investigating any such dispute.
       2. in relation to complaints, they will be dealt with in accordance with our Customer Service Procedures, a copy of which will be sent to you on request. If we are unable to resolve any complaint, you may contact the Department of Consumer Affairs of Gibraltar, 10 Governors Lane, Gibraltar.
    2. We reserve the right not to refund sums to you if we reasonably believe that you have not acted in accordance with this Agreement.
    3. You must provide us with all receipts and information that are relevant to your claim.
    4. If our investigation shows that we have incorrectly deducted money from your Available Balance, we shall refund the amount to your Account. Until our investigation is complete the disputed amount will be unavailable to spend. If we subsequently establish that the refunded amount had been correctly deducted, we may deduct it from your Available Balance. If you do not have sufficient Available Balance, you must repay us the amount immediately on demand.
    5. In relation to any dispute between the Cardholder and a Merchant, provided you are able to satisfy us that you have already made all efforts to resolve the dispute with the relevant Merchant, we will attempt to assist you so far as is reasonably practicable. We may charge you a Chargeback Processing fee as referenced in the Fees & Limits Schedule for any such assistance we may give you with any such dispute.  If there is an un-resolvable dispute with a Merchant in circumstances where the Card has been used for a Transaction, you will be liable for the Transaction and will have to resolve this directly with the relevant Merchant.

17. Personal Data

    1. We are the data controller for your personal data and will process personal data given to us in connection with your Account in order to administer your Account and provide you with services relating to the Account and this Agreement.
    2. We may check your personal data with other organizations, and obtain further information about you in order to verify your identity and comply with applicable money laundering and governmental regulations. A record of our enquiries will be left on your file. We may provide personal data supplied by you to certain named third parties (including data processors) for the purpose of performing our obligations and exercising our rights under this Agreement, including third parties located outside the European Union where different data protection standards may apply. We may also disclose your personal data as required by law or any competent authority.
    3. By agreeing to these terms and conditions, you acknowledge and agree to our processing of your personal data in this way.
    4. You have the right to receive certain information concerning the personal data we hold about you (for which you may be charged a fee), and to rectify such data where it is inaccurate or incomplete.
    5. You have also seen our Privacy Policy document and acknowledge and agree to the provisions thereof (as amended from time to time).
    6. If you have elected to opt in to receive email and SMS marketing, we may share your information with third parties so they can contact you directly by telephone or email about their products and services.

18. Changes to the Terms and Conditions

    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.

19. Miscellaneous

    1. We may assign our rights, interest or obligations under this Agreement to any third party including by way of merger, consolidation or the acquisition of all or substantially all of our business and assets relating to the Agreement. This will not adversely affect your rights or obligations under this Agreement.
    2. We do not intend that any of the terms of this Agreement will be enforceable by a person not a party to it, except that System Providers and their affiliates may enforce any right granted to it under this Agreement.
    3. Any waiver or concession we may allow you will not affect our strict rights and your obligations under this Agreement.
    4. The Account-holder and any Additional Cardholders agrees that you will not use the Account or Card(s) in any illegal manner and agree to indemnify us against any claim or proceeding brought about by your illegal use of the Account or Card(s).
    5. This Agreement, and the documents referred to in it, constitute the entire agreement and understanding of the parties and supersede any previous agreement between the parties relating to the subject matter of this Agreement.

20. Regulation

    1. The Gibraltar Deposit Guarantee Scheme does not cover e-money issued by us or claims made in connection with our issuing e-money. There is no scheme to compensate holders of e-money issued by us in cases where we are unable to satisfy claims against us in relation to e-money.
    2. This Agreement contains the information requirements set out in the Payment Services Directive (2007/64/EC) and in particular Article 42.
    3. The Cards are issued by Transact Network Limited pursuant to a member license from the applicable System Providers.
    4. To the fullest extent permitted by law, this Agreement is governed by the laws of Gibraltar. The parties to this Agreement submit to the exclusive jurisdiction of the Gibraltar Courts except that we may issue proceedings in the Courts of any other competent jurisdiction.

SCHEDULE 1

Fees and Limits Schedule

1. FEES

   1. ISSUING FEES:

      Physical card € 35.00, Additional physical card € 15.00, Primary virtual Card € 9.95, Additional Virtual Card € 9.95

   2. TRANSACTION FEES & USAGE:

      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

   3. LOADING/RE-LOADING FEES:

      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

   4. MISCELLANOUS FEES:

      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

   5. RE-OCCURING MONTHLY FEES:

      Maintenance fee € 2.95**

2. LOAD, RELOAD & USAGE LIMITS

   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.