Rights and obligations for cardholders

Rights and obligations for cardholders

DEFINITIONS:

“Card Organisations” refers to MasterCard International, VISA Europe, JCB Europe or any other card association or organisation applicable hereunder;

“Card” refers to a valid payment card including, but not limited to, credit or debit cards, with the logo of MasterCard, VISA or JCB or of any other card association or organisation applicable hereunder;

“Cardholder” refers to a person to whom a Card has been issued and any authorised user of such a Card;

“Virtual POS” means a logical device for remote acceptance of electronic payments with payment cards via the website https://myfxchoice.com. The virtual POS is owned by the company Best Solution EOOD with a seat and tax registration on the territory of the Republic of Bulgaria;

“Holder of the Virtual POS” is the company Best Solution EOOD, entered in the Commercial Register of the Republic of Bulgaria under UIC 203649120, with a registered seat and management address: 30 Osogovo Str., office 501, Sofia 1303, Bulgaria, EOOD with tax registration in the territory of the Republic of Bulgaria;

“Services” means Forex trading services, the offering of premier solutions for trading Forex, precious metals and CFDs;

“Service provider” refers to the company FX Choice Limited (FXChoice), an International Trade Company with reg. № 105,968 with a seat and registered address in Belize, Belize city, Corner of Hutson & Eyre Street, Blake Building, Suite 302, regulated by the Belize International Financial Services Commission (“IFSC”);

“Service provider’s Website” means the World Wide Web site https://myfxchoice.com, on which services are offered by FXChoice.

“Disputed payment” is the procedure for a refund, in full or in part, of a certain amount paid by a card transaction. Such a refund is made in case of violations occurring upon acceptance of the payment, or in case a transaction is performed under fraudulent conditions, or at the initiative of the cardholder.

“An irregular transaction” or a transaction made under “fraudulent” conditions means it is a transaction intentionally (deliberately) made with a card or card details obtained illegally (a lost, stolen card or a card obtained on the basis of false documents, etc.) as well as with a falsified or counterfeited card or with stolen card details. Such a transaction is made without the knowledge and consent of the authentic cardholder and without his/her permission, and the latter refuses to accept the costs related thereto.

These Terms and Conditions are for the servicing of payments with local and international cards with the virtual POS terminal and they govern the relations between Best Solution EOOD, entered in the Commercial Register of the Republic of Bulgaria under UIC 203649120, with a registered seat and management address: 30 Osogovo Str., office 501, Sofia 1303, Bulgaria, and customers, arising with the acceptance, processing and servicing of non-cash payments with local and international cards at an electronic POS terminal, for Services offered by the company FXChoice on the website: https://myfxchoice.com, owned by the company.
By accessing this website, the customer agrees, accepts and understands the following Terms and Conditions.

Rights and Obligations of Best Solution EOOD:

  1. Best Solution EOOD is not a provider of Services in Forex, precious metals and CFDs.
  2. Best Solution EOOD acts as a sales representative for the Service provider according to the Sales Representation Agreement and provides acceptance, processing and servicing of non-cash payments with local and international cards with its own virtual POS terminal, which is based on the Service provider’s website.
  3. Best Solution EOOD shall be obliged to facilitate its customers’ card payments in compliance with the requirements for processing such payments set out in the applicable legislation and the applicable rules for the acceptance of card payments on the Internet.
  4. Best Solution EOOD shall be obliged to accept lawful payments with all bank cards bearing the Visa, MasterCard, Maestro, BORIKA, etc. trademarks.
  5. Best Solution EOOD shall have the right to unilaterally set additional requirements or restrictions about the acceptance of card payments.
  6. Best Solution EOOD has a confidentiality policy and a policy for protection of the personal data and commercial secrets.
  7. Any personal information of cardholders provided to Best Solution EOOD will be treated as confidential and will not be disclosed to any third party except under any regulatory or legal proceedings according to the applicable law; any bank agreements and/or agreements with the payment provider, except under explicit consent of the cardholders allowing Best Solution EOOD to provide such data to third parties and / or to use their personal data for other purposes – marketing research, etc.
  8. Best Solution EOOD is not permitted to store, use or distribute the numbers of payment cards and CVV2/CVC2 information, of which it has become aware as a result of the performed activity subject to these Terms and Conditions for purposes other than those specified in the present Terms and Conditions, except when required by law or rules of international card organisations
  9. In case of any suspicions or proven doubts for unauthorised access to information stored by Best Solution EOOD for numbers of cards and/or other card information, the latter is obliged to inform the cardholder immediately thereof.
  10. Best Solution EOOD has the right to refuse a card payment in case of:
    1. A non-valid payment card;
    2. Impossibility to receive a confirmation for the execution of the transaction;
    3. Doubts as to the lawfulness of the transaction;
    4. Suspicion of a false or counterfeited payment card;
    5. Unsuccessful identification (authentication) of the cardholder;
    6. Impossible authentication of the cardholder;
    7. By order of the relevant bank.
  11. Best Solution EOOD may prepare a visual message that the cardholder sees after receiving authorisation, respectively after rejection of the transaction, when making a card payment at the virtual POS.
  12. Best Solution EOOD is obliged to provide reliable control for acceptance of payments through its virtual POS on the Internet so as not to allow transactions that do not meet the purposes of these Terms and Conditions.
  13. Best Solution EOOD is obliged to perform the necessary care for processing payments initiated by cards through the Internet as to enable secure communication with the acquiring and payment server of its payment provider.
  14. Best Solution EOOD is obliged to ensure on the Service Provider’s Website to be indicated what kind of payment cards are accepted for payments, as well as the security level of the accepted payments initiated by bank cards.
  15. Best Solution EOOD is obliged to store the information about the payment order made by the cardholder according to the relevant rules for acceptance of payments with bank cards through the Internet for at least 13 (thirteen) months as of the date of performance of the transaction.
  16. The paid services to the Service provider could be cancelled under the Service provider’s client agreement, located on the website: https://myfxchoice.com. Best Solution EOOD is only a sales representative of the Service provider and any cancellation of an order made by a cardholder for services have to be approved by the Service provider – FXChoice in order to be executed by Best Solution EOOD.
  17. Best Solution EOOD shall not be liable for the responsibilities and obligations of the parties in the relations Service provider-customer, as well as for any non-compliance with the terms and conditions, for payment of an order, as well as the amount of the made payments, charges due by the parties, penalties if they fail to fulfil their obligations etc.
  18. As the offered Services by the Service Provider are trading services in forex, precious metals and CFDs., all parties, including the Service provider, cardholder (customers) and Best Solution EOOD agree that the ordered services are considered as fully provided by the Service provider to the cardholder (customers) in case the cardholder (customers) has opened a trading account with FXChoice (Service provider) and his/her trading account has been credited with funds paid by the cardholder (customers) using the virtual POS subject to these Terms and Conditions. If the conditions under the last sentence are met, then the cardholder (customers) is not allowed to claim that the ordered services have not been provided or that the provided services are of bad quality, and Best Solution EOOD is not obliged to refund, partially or fully, amounts to cardholder/s paid using the Virtual POS subject to these Terms and Conditions. The services provided by Best Solution EOOD on the Service Provider’s Website according the current Terms and Conditions concerns only the customers of the Service Provider – customers, which have accepted and agreed to the terms and conditions of FXChoice for services offered by FXChoice and customers which have accepted the Client Agreement of FXChoice.
  19. Best Solution EOOD does not have the right to offer and provide goods or services that are prohibited by law. Any actions of a customer as depositing funds to a trading account, using the virtual POS terminal of Best Solution EOOD, which is based on the Service provider’s website will mean: full acceptance of the Terms and Conditions of FXChoice and its Client Agreement, annexes thereto, and other rules, regulations and schedules established by FXChoice.
  20. Best Solution EOOD is obliged to carry out its business activity not to allow the offering and/or providing, directly or indirectly via its virtual POS and/or website, of the following goods and services:1) Child pornography; 2) Depiction of crude violence and perversion; 3) Goods and services in violation of copyright, counterfeit goods and imitations of famous trademarks; 4) Trade in medicines with prescription; The current Terms and Conditions regulates the relations between customers of the Service Provider (FXChoice) and Best Solution EOOD regarding the acceptance, processing and servicing of non-cash payments with payment cards on the POS terminal of Best Solution EOOD, based on the Service provider’s website.
  21. Best Solution EOOD is obliged to carry out its business activities of offering and selling services via its virtual POS and not to allow any money laundering and terrorism financing, fraud or attempted fraud in any way whatsoever. The relations between customers and the Service Provider (FXChoice) are regulated by the Terms and Conditions, Client Agreement, annexes thereto, and other rules, regulations and schedules established by FX Choice, which are accepted by the customer.

Rights and Obligations of the customers:

  1. When using the Virtual POS, subject to these Terms and Conditions for depositing funds into his/her trading account for trading services in forex, precious metals and CFDs., the customer, who is a cardholder, should comply with the following:
    1. Customers should be advised that Best Solution EOOD and Service provider do not accept payments from third parties.
    2. Due to regulatory requirements, Best Solution EOOD may refuse any payments from high-risk regions.
    3. The name of the cardholder must always match the name of the trading account customer.
    4. To refrain from giving the card or activation code / PIN / 3D Secure password to other persons, respectively from disclosing them to other persons.
  2. The customers are obliged to follow these Terms and Conditions and to use their cards for depositing funds into his/her trading account for trading services in forex, precious metals and CFDs only according to the applicable contractual and legal provisions.
  3. Due to the specifics of the card payment process, all funds will be converted to EUR or USD upon receipt. Thus, even if the credit/debit card account and the trading account with the Service provider are in the same currency (e.g. EUR), there may be a difference between the amount withdrawn from the credit/debit card and the amount deposited into the trading account.
  4. Best Solution EOOD does not charge its customers, nor are they required to pay commission to Best Solution EOOD, for transfers via card payments. The customers will be charged with due fees to third parties, as: fees of the processing company/bank, which provides the Virtual POS services to Best Solution EOOD; fees of the institution which has issued customers’ payment cards; fees of an intermediary bank or a correspondent bank or an international card organisation (if any).

Contact information

  1. The customers may use the following contact information for communication with Best Solution EOOD regarding customer inquiries about acceptance, processing and servicing of non-cash payments with payment cards at its own virtual POS terminal for depositing funds into his/her trading account for trading services in forex, precious metals and CFDs with Service provider:
    1. Postal address: 30 Osogovo Str., office 501, Sofia 1303, Bulgaria;
    2. Email: info@best-solution.net

Disputed payments

  1. In case Best Solution EOOD or its payment provider has any doubts for payments made with stolen, false or irregular cards or such made without the knowledge and/or consent of the authorised cardholder, Best Solution EOOD shall have the right to conduct an investigation and the cardholder shall be obliged to cooperate and to provide the information and documents requested by Best Solution EOOD, its payment provider or card organisation, concerning the disputed payments.
  2. Best Solution EOOD shall have no responsibility for claims related to the terms of delivery and the quality of the services provided by the Service provider, as Best Solution EOOD is not a provider of Services, as well as trading services in Forex, precious metals and CFDs
  3. The cardholder shall indemnify Best Solution EOOD for any damages, loss or expenses if it is demonstrated that they resulted from the violation of the provisions stipulated in these Terms and Conditions.