Moneff Payment Card Terms and Conditions

Version published: 30 September 2024

For the previous version please see here

1. Supplementary Terms and Conditions

These Moneff Payment Card Terms and Conditions (“Card Terms”), our Moneff Terms and Conditions (“General T&Cs”) and our Fees apply when we issue a Mastercard card (both physical and virtual cards, unless expressly agreed otherwise) to you and provide our services. 

The headings are for ease of reference only. Some capitalised terms have specific meanings as defined in section 3 (Definitions), or in the Moneff Terms and Conditions. 

In case of conflict in the definitions, General T&C shall prevail.

Where the General T&Cs are inconsistent with these Card Terms, and can not fairly be read together, the Card Terms will prevail in the extent not to defeat the main subject matter of the agreement. 

2. About these Payment Card Terms and Conditions

1. What is covered. These Card Terms, General T&Cs are the terms and conditions on which we issue the Card to you and subsequently provide the services associated with it. 
2. Why you should read it. Please read these Card Terms and General T&Cs carefully before you start to use our services. 
3. These Card Terms and General T&C (and all other documents referred to herein) tell you who we are, features of the Card and how you may use it, the governing conditions in issuance of the Card and provision of our services to you, how these conditions may be modified and other associated information.
4. Changes. We may change these Card Terms and the General T&C at our discretion by giving our customers a prior notice.
5. Your acceptance. By applying for, or using, your Card you agree to these Card Terms and the General T&Cs which means you accept our offer for provision of our Card services to you (including any changes that may be introduced from time to time). If you do not agree, please do not apply for, or use, the Card.
6. Latest version of these Card Terms and the General T&Cs. You can always find  the latest version of these Card Terms and the General T&Cs on our Website. We strongly encourage you to print out a paper copy of these Card Terms and these General T&Cs for your future reference.

3. Definitions

In these Card Terms:

“Balance” means any amount of funds held in your Moneff Account and available for transactions; for clarity, this excludes the balance reserved for execution of the payment orders which are pending.

“Card” means your Moneff Card (including any additional or replacement card as may be applicable) with the features envisaged in Clause 6 below (Use of the Card).

“Fees” means the fees payable by you to us for using our Services. The latest applicable Fees can be found via our Mobile App or on our Website. Fees are usually paid after the due diligence checks have been completed on our part.

“Mobile App”, “App” means the mobile application software provided by Moneff, along with the data supplied with such software and the associated media, through which you can access and manage your Moneff Account using features and functionalities available from time to time.

“Moneff”, “We”, “Us” means Safenetpay ApS, a company registered under the laws of Denmark with CVR number 40 86 03 20 (trading as “Moneff”).

“Moneff Account” means the account you have opened with us in accordance with the General T&Cs, which you can manage through customer interfaces accessible via the Website and the Mobile App.

“Moneff Exchange Rate” is the exchange rate used by us for foreign exchange transactions.

“Moneff Website”, “Website”, “Our Website” means the website available at https://moneff.com/en-eu, through which you can open, access and manage your Moneff Account using available features and functionalities and as may be modified from time to time.

4. About your Card and the Issuer

1. Who is the issuer of your Card. Your Moneff Mastercard debit card is issued by Moneff, a company incorporated under the laws of Denmark with company CVR number 40860320. We are an Electronic Money Institution authorised (FT ID is 40510) by the Danish Financial Supervisory Authority (“FSA”) under the Danish Payments Act (LBK nr 53 of 18/01/2023, or as may be amended, restated or replaced from time to time) for the issuing of electronic money and the provision of payment services.
2. The Danish Guarantee Fund (Garantiformuen) scheme does not apply. Your Card is linked to your Moneff Account, which is an e-money and payment account, and is not a bank account. You acknowledge that the Danish Guarantee Fund (Garantiformuen) does not apply to your Moneff Account or Card. However, we abide by the requirements of the Danish Payment Act (Lov om betalinger) and ensure the safety of your funds held in your Moneff Account by keeping the funds in special safeguarding accounts or insuring them.
3. Purpose of use. If your Moneff Account is a corporate account, you may only use your Card for business purposes and not personal purposes. Whereas, if your Moneff Account is an individual account, you may only use the Card for personal purposes. 
4. Verification (due diligence) checks. When you apply for a Moneff Account, we carry out initial mandatory checks, and we reserve the right to carry out further checks on an ad-hoc basis. You acknowledge that as a result of such checks, the time required to handle your application for a Card may increase. We are not responsible for any delays caused by those checks. We are under no obligation to accept and honour your application for a card. 
5. Setting up a PIN code for your Card. If you have successfully passed our due diligence checks, you will be eligible to order your Card. Please note that when ordering a Card, you will have to set a PIN Code for your Card. The Card PIN is a 4-digit code that you need to enter in order to make a payment using the Card or to withdraw cash at an ATM (where PIN code is requested). It is your responsibility not to share your PIN code with anyone and to keep it safe. Moneff will never ask you for your PIN code.
6. Waiver of Fees and Fee discounts. We may from time to time introduce changes to our card Fees (pricing plans) that will grant you free-of-charge transactions or discounts on certain transaction Fees. Such free-of-charge transactions or associated discounts may be subject to limits in respect of their number and caps in respect of their aggregate amount per specific period. The exact limits and caps may in turn depend on the particular pricing plan. As a rule, the aggregate amount shall not exceed the established cap regardless of the number of free-of-charge transactions used. For clarity, if you have one or more free-of-charge or discounted transactions remaining but you have already reached the relevant cap in respect of the aggregate amount per period you will not be eligible to make such remaining transactions free-of-charge or at a discount.
   
   Please note that we are not in control of other financial institutions' or service providers' fees and charges ('third-party fees') that may also apply to your transactions. For clarity, by granting you free-of-charge transactions or discounts we apply those to our own part of the Fees only. This means that other financial institutions' fees or charges may nevertheless apply to the transactions for which we waive our fees or on which we offer discounts. For this reason, it is strongly recommended that you carefully check the applicable third-party fees or the aggregate amount of estimated fees for every transaction that you make through your Card - for example, when withdrawing cash from an ATM.

5. How to top up your Card

Your Card is linked to and funded from your Moneff Account. You can top up the Card balance by adding money to your Moneff Account.

6. Use of the Card

1. About your Card. The Card is a debit payment product which can be used to pay for goods and services online or in person. The Card can be used to withdraw money from ATMs in Denmark, EU/EEA and overseas. For the avoidance of doubt, the Card is not a credit card, charge card or check guarantee card.
2. How to activate your Card. You may activate your Card using one of the available options: either by checking the balance of your Card at an ATM or by making a purchase authorised with your PIN code (“Chip and PIN”). Either way you will need your PIN code, which you set up during the card ordering process. You can find card activation instructions on our website by following this link.
3. Paying in multiple currencies. You may hold balances in multiple currencies in your Moneff Account when they become available. If you are making a payment or withdrawing funds from a balance you hold, the payment or withdrawal will always be processed and deducted in base currency (EUR) applying Moneff Exchange Rate. If you are making a payment or withdrawal in a currency you do not hold in your Moneff Account, we will apply the Moneff Exchange Rate to convert the amount, and we may also charge a fee to base currency balance according to our Fees in force at the time of conversion. When you are making a payment or withdrawal in a currency which is not supported by us, we convert the amount at the current Moneff Exchange Rate. Please note that if you order your Moneff card from an account registered to an address in countries and regions deemed restricted for card usage, you will not be able to spend or withdraw money in your domestic currency.
4. Refunds in unsupported currencies. If you receive a refund in a currency not supported by us, we will first convert the amount to base currency applying the current Moneff Exchange Rate and then credit your Moneff Account in your base currency.
5. Negative balance, not allowed. You must not make purchases that exceed the amount of electronic money available in your Moneff Account. You accept that if the amount necessary for a purchase exceeds your available funds or the card limits in force from time to time, the transaction will be declined. In the event your balance becomes negative, you agree that you will owe us the amount equal to the negative balance, and we are entitled to deduct, or otherwise set off, the amount owed from future incoming funds.
6. Limitations when using the Card. In our sole discretion, we may decline the use of your Card in certain cases including (but not limited to) the following:
• pre-authorised recurring payments;
• transactions at self-service petrol stations;
• where under the circumstance of the card use the supplier of the good or service is unable to obtain online confirmation of sufficient balance in your account. This may include transactions on transport such as flights, train trips and ship journeys;
• transactions for cash (other than ATM withdrawal) such as money orders, traveller’s cheques, foreign exchange, or bureau de change, or any illegal purposes.

We are not liable for third-party failings. We are not responsible if a particular ATM fails to dispense cash from your Card. We are not liable for any loss that may arise from any merchant refusing to accept your Card. Similarly, we are not responsible for any defect or other aspect of the goods or services you purchase using the Card. You are solely responsible for losses arising from gross negligence. It is your responsibility to conduct proper due diligence on the merchants you use.

Account Suspension and Cancellation. Under certain circumstances, we may close or suspend your Moneff Account at any time (see ​the General T&Cs ​) and we can suspend or cancel your Card, including if the activity on your Card gives rise to suspicious, appears to be fraudulent or we believe it to be associated with financial crime or activity which is inconsistent with this Agreement. Unusual or multiple purchases of suspicious nature may lead to a merchant enquiry or Card suspension that is essential to allow us to further investigate such activity for funds safety reasons. We reserve the right, in our sole discretion, to limit your use of the Card. In the event that we decide to suspend or cancel your card will seek to inform you in advance (except where provision of such information would compromise reasonable security measures or violate regulatory requirements) and state the reasons for such suspension or cancellation. In this case, if we are unable to contact you in advance, we will notify you immediately after. We may refuse to issue or replace a Card. You agree not to use or allow others to use an expired, revoked, cancelled, suspended or otherwise invalid Card.

Unjust enrichment. In case you know (or ought to know) funds have been received more than one time for the same transaction, from Moneff and the merchant, you are required to inform us immediately. We reserve the right to debit back, without any prior notice, such  duplicate funds where  funds  for the same transaction have been provided by the merchant as well.

Where a transaction is disputed, we may, for certain reasons and subject to any restrictions under applicable law, decide not to allow a chargeback in our sole discretion. Reasons for this might include: insufficient information which does not allow to definitely determine an error has occurred; not receiving the information regarding the payment error in a timely manner; excessive risks of transactions when using a business debit card.

7. Transactions authorisation

1. Your authorisation of transactions. You confirm that any use of your Card number, PIN, transaction confirmation code or biometrics constitutes your authorisation of, and consent to, a Card transaction.
2. Multiple users of the Card. You may be able to order multiple business debit cards to your employees. Employees may have access to the transaction history of the cards issued to them, if and when this functionality is available. Authorised users of your Moneff business account can order cards. Where there are multiple cardholders within the same business account, any transaction authorised by any one of the cardholders is deemed to be duly authorised by the business.
3. We may authorise or decline your transactions based on the following, but not limited to:
1. The amount of funds or credit available;
2. Fraud or credit risks presented by usage patterns;
3. Cash access restrictions to manage a secured or high risk account;
4. Cardholder-designated restrictions on use; or
5. Any other restriction.

We authorise the transaction on a case by case basis and not on the basis of terminal country location, acquirer country location, transaction type, acceptance environment, or other similar factors.

8. Keep Your Card and Moneff Account Safe

1. Keep your Card safe. Never let another person use your Card, and keep it safe. The PIN must not be kept together with the Card. It is strongly recommended that you should memorise your PIN because if the PIN is entered wrongly three successive times, the Card will be blocked. Never disclose your PIN and other security information to anyone. Sharing these details can lead to unauthorised access to your account and you will be solely responsible for transaction(s) made in this situation. Moneff will not be liable for any loss arising due to any such unauthorised transaction(s).
2. Keep your Moneff Account safe. You should also follow the security measures provided for in section 11 (Keeping your Moneff Account Safe) of the General T&Cs with regard to your Moneff Account.
3. Report any suspicious incidents. If your Card is lost or stolen, if you reasonably suspect that some unauthorised person knows your PIN, or if you reasonably think your Card, card number or PIN may be misused, you agree that you must stop using the Card and contact Customer Support immediately. If you find the Card after you have reported it lost, stolen or misused, you must cut it up and tell us as soon as possible.
4. Review your transaction history. We encourage you to check your Moneff Account history on a regular basis and contact us immediately in the case of unauthorised or incorrect transactions.
5. Replacement of a card. If your Card, or any replacement Card, is lost or stolen, you may order a replacement Card. We may charge a fee for the replacement Card.
6. Disclosure of information. If your Card is used without your permission, or is lost, stolen or if you suspect the Card may be misused, we may disclose to law enforcement agencies any information which we reasonably believe may be relevant.

9. Expiry and replacement of your Card

1. Card expiry date. You can use your card up until the expiry date which is shown on the front of your card and/or in the App.
2. Where you wish your card to be replaced, a replacement card fee may apply.
3. If you wish not to renew your Card, you may let it expire without a replacement. Please note that your Card will be deactivated and you will not be able to use it after its expiry. Any balance remaining in your Moneff Account will continue to be available through your Moneff Account and may be used at your discretion in accordance with Moneff Terms and Conditions.

10. Your termination (cancellation) rights

You may close your Moneff Account in accordance with the Moneff Terms and Conditions.