General Terms and Conditions for Use of Swiss Bankers Prepaid Services Ltd Payment Instruments
1. Contracting parties
By ordering a payment instrument (hereinafter referred to as «Card») issued by Swiss Bankers Prepaid Services Ltd (hereinafter «SBPS»), the cardholder (in the case of physical persons) or the ordering company (in the case of legal entities) enters into a contractual relationship with SBPS and accepts the following General Terms and Conditions.
The cardholder or the ordering company undertakes to use the app provided by SBPS or the customer account at www.swissbankers.ch. The term «Card» includes both physical and virtually issued cards that are e.g. provided on digital end devices such as smartphones, smartwatches, or other mobile devices.
2. Beneficial ownership
By using the Card, the cardholder affirms that he or she is the sole beneficial owner of the assets held on the card.
3. Card order and customer identification
Cards can be applied for and obtained via the SBPS website at www.swissbankers.ch, via the provided app, or via distribution partners. The customer shall disclose his or her personal data and required proof of identity depending on the ordered product and the desired scope of use. SBPS distinguishes between different identification and product usage levels. Further details are found in the product descriptions and at www.swissbankers.ch.
SBPS reserves the right to decline a card application without stating grounds. In particular, card applications from persons who are taxable in the United States of America are not admitted by SBPS. The customer is obliged to provide correct information and is fully liable for all consequences resulting from providing false information. Changes in the information provided on order placement, particularly regarding personal data or address, shall immediately be reported to SBPS in writing.
4. Loading the Card
The Cardholder or other persons can load funds onto the Card, i.e. onto the corresponding card account. SBPS reserves the right to restrict the group of such persons.
5. Card account and loading limits
SBPS maintains the card account in the currency of the Card. Each card account has a card account limit and a loading limit, which depend on the product and on the applicable duties of care and can be examined at the SBPS website (www.swissbankers.ch). SBPS and its distribution partners reserve the right to limit the maximum card balance, the loading frequency, and the maximum amount that can be loaded or used during a given period for each Card.
6. Maximum number of cards
SBPS and its distribution partners reserve the right to limit the number of Cards per physical person or legal entity.
7. Transaction overview
The cardholder can review his or her card account online at any time at www.swissbankers.ch, through the provided app or by phone to SBPS customer service.
8. Notification obligations
Where SBPS requires information pursuant to statutory or regulatory obligations, the Cardholder undertakes to respond to such information requests without delay.
The use of cards is only possible in conjunction with PINs. If the Cardholder receives the PIN for his or her Card from SBPS or an outlet, he or she must change the PIN immediately upon receipt.
10. Acceptance of the Card
The Cardholder can draw cash or make cashless payments exclusively at ATMs and cash registers with the Mastercard® logo or on the Internet at online shops that accept Mastercard cards. SBPS may restrict or adapt the purposes for which the Card can be used at any time. SBPS assumes no liability in the event that one of the above-mentioned locations refuses the Card for any reason or that the Card cannot be used due to a restriction. If the Cardholder uses a virtual Card, he or she shall keep in mind when purchasing goods and services that presenting a physical Card is not required for the final purchase of the products and services.
11. Duties of care
In handling the Card, the Cardholder is subject to the following duties of care, in particular:
- Signing: The Cardholder must sign physical cards with an indelible pen in the designated place immediately upon receipt.
- Safekeeping: The Card must be stored with care, like cash. In the event that the Cardholder requests a replacement card, SBPS may charge the Cardholder a fee.
- Secrecy: The PIN and other means of authentication must be kept secret. They must not be written on the Card or written down or electronically stored elsewhere. They must not be shared with other persons.
- Sharing prohibited: The Cardholder must not lend or share or make either the Card or the card data, the PIN or other means of authentication available to third parties in any other fashion.
- Change of PIN and other means of authentication: Changed PINs and other means of authentication must not consist of easily determined combinations such as a telephone number, date of birth, car registration number, etc.
- Notification in case of suspected misuse or loss: In the event of suspicion of misuse or loss of the Card, the PIN or other means of authentication, SBPS must be notified without delay so that the Card can be frozen. If criminal activity is suspected, the police must be notified without delay.
- Compliance with all legal requirements: The Cardholder is responsible for compliance with all applicable legal requirements (including tax laws) and must comply with such legal requirements at all times. The Cardholder must use the Card only for legal purposes and transactions.
- Credits to Card from unknown source: The Cardholder undertakes to notify SBPS without delay of any credits to his or her Card for an unknown reason and/or from an unknown source.
- SBPS must be notified in writing immediately of changes in personal data, contact information and/or beneficial ownership.
12. Authentication, charging and assumption of risk
Anyone who authenticates
- through contactless use of the Card by holding it near an appropriate device,
- by using the Card and entering the correct PIN in a device configured for this purpose,
- or on the Internet by entering the name of the Cardholder, Card number, expiration date, CVC code from the back of the Card and the Mastercard SecureCode / Identity Check, or
- by signing,
will be regarded by SBPS as authorized to use the Card. This applies even if the said person is not the Cardholder pursuant to Section 1. Accordingly, SBPS is authorized to debit the card account for the transaction thus executed and electronically registered. By initiating a transaction, the Cardholder acknowledges the claim documented by the acceptance point (such as an online retailer). Any disputes concerning discrepancies and complaints about goods or services or claims resulting therefrom are to be settled directly by the Cardholder with the acceptance point in question (such as an online retailer) and recorded in writing.
13. Assumption of losses when not at fault
Any loss from misuse of the Card by a third party must be reported to SBPS without delay upon discovery, but no later than 30 days after the transaction date, with a written claim for the disputed transaction(s). Assuming that the Cardholder has met the conditions for use of the Card in all particulars (especially duties of care under section 10) and is not otherwise at fault, SBPS will assume the loss from misuse of the Card. By accepting compensation, the Cardholder assigns his/her financial claims for the loss to SBPS.
14. Cardholder’s liability
Should SBPS incur losses as a result of breaches of obligations on the part of the Cardholder, SBPS reserves the right to hold the Cardholder in question liable and to debit the Cardholder’s card account directly. In the event that the card balance is exceeded, the Cardholder must make up the negative balance, including accrued fees, within 30 days by reloading the Card. Upon failure to make such a deficiency payment, SBPS has the right to demand immediate payment of the outstanding amount and to freeze the Card. Any reminder and collection costs are borne by the Cardholder.
Upon loading of the Card, SBPS may charge the Card or card account fees for processing of transactions carried out with the Card and for services provided by SBPS. Furthermore, SBPS also has the right to pass on any fees charged by ATM operators or other parties involved in the payment process. Where known to SBPS, the fees charged by these partners are published on the SBPS website (www.swissbankers.ch). The sales outlet from which the Card was obtained may charge different fees; information on these fees can be obtained from that outlet.
16. Foreign currency transactions
In countries with a currency other than that of the card account, transactions are generally executed in the local currency. The SBPS exchange rate is used for the conversion.
17. Technical malfunctions and power cuts
The Cardholder is not entitled to compensation for losses due to technical malfunctions and power cuts that limit or prevent use of the Card.
SBPS will freeze the Card upon the Cardholder’s express request or if the Cardholder reports loss of the Card and/or the PIN and/or other means of authentication or if advisable to protect the Cardholder. Furthermore, SBPS reserves the right to freeze the Card at any time without stating grounds. SBPS has the right to charge the card account for uses of the Card before the freeze takes effect. SBPS assumes no liability for losses incurred by the Cardholder due to a freeze.
19. Account data and information
SBPS assumes no warranty for the accuracy and completeness of information and data obtained, for example, at ATMs, on the Internet or via other applications.
20. Validity of the Card
The duration of the Card’s validity is displayed on the Card. The card balance is not forfeited upon expiry of the Card. SBPS has the right to transfer the card balance to a new card before expiry of the Card and to furnish the new card to the Cardholder. Furthermore, at the Cardholder’s request, the card balance can be transferred to a different SBPS card or, for a fee, to an account to be specified by the Cardholder. In the event that the Card is not used for a number of years and the card account balance falls below the minimum, SBPS reserves the right to refrain from replacing the card and may instead charge an annual service fee to the card account.
21. Data protection
By using SBPS services the Cardholder agrees to the following:
- Personal data and data on card transactions and the card balance may be processed and shared within the SBPS Group.
- Personal data and data on card transactions and the card balance may be exchanged with the sales outlet from which the card was obtained.
- Personal data and data on card transactions and the card balance may be exchanged with parties involved in operational investigations (such as requests for reimbursement due to a disputed transaction).
- Personal data may be transferred abroad for processing. In countries without data protection comparable to Switzerland’s, SBPS will ensure data protection by means of contractual guarantees.
By acknowledging these General Terms and Conditions, the Cardholder declares that he or she likewise acknowledges the separate Data Protection Information Sheet (also available at www.swissbankers.ch).
The Cardholder agrees that SBPS may process behavioral data which do not permit direct conclusions concerning his or her person for marketing purposes and for market research, in particular for development of products and services in connection with the card relationship, use of the Card or ancillary/supplementary services.
The Cardholder agrees that his or her use of the Card may result in an exchange and storage of data about his or her person, card transactions and current card balance in Switzerland and abroad which are beyond the access and oversight of SBPS.
22. Outsourcing of business areas and services
Within the scope of the provisions of supervisory law and in accordance with supervisory directives, SBPS may outsource particular business areas and services (such as operation of IT systems) to service providers in Switzerland and abroad. In this context, such service providers may come into possession of data about the Cardholder and his or her card transactions and card balance, which the Cardholder hereby acknowledges and accepts.
In the event of dormancy, SBPS has the right to release data about the Cardholder and his or her card balance to the proper authorities. Should it be necessary to conduct special investigations in connection with the dormancy, SBPS has the right to charge costs incurred, in particular investigation fees, to the card account.
24. Amendment of General Terms and Conditions
SBPS reserves the right to amend the General Terms and Conditions at any time. Amendments to the General Terms and Conditions will be communicated by means of the provided app and at www.swissbankers.ch, where they will be available at any time.
25. Termination of the contractual relationship
The contractual relationship terminates if the Cardholder or SBPS has cancelled the contractual relationship and the balances on all cards held by the Cardholder have been settled, or all cards held by a Cardholder show no funds after expiry. SBPS may terminate the contractual relationship at any time without stating grounds. A possible card account credit balance will exclusively be paid out electronically to a bank account held in the name of the customer.
26. Governing law and jurisdiction
All legal relations with SBPS are governed by Swiss law. The place of jurisdiction is Bern.
The current General Terms and Conditions are available for inspection at www.swissbankers.ch.
Swiss Bankers Prepaid Services Ltd
Kramgasse 4, 3506 Grosshöchstetten, Switzerland
+41 31 710 12 15, firstname.lastname@example.org, swissbankers.ch