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/POS” means a logical device for remote acceptance of electronic payments with payment cards via the website https://myfxchoice.com.

“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 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);

“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 the event of violations occurring upon acceptance of the payment, or when 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 their permission, and the latter refuses to accept the costs related to it.

These Terms and Conditions are for the servicing of card payments with the virtual POS terminal, and they govern the relationship between the company FXChoice and its customers, arising with the acceptance, processing and servicing of card payments 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 the service provider:

  1. The service provider 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.
  2. The Service provider shall be obliged to accept lawful payments with all bank cards bearing the Visa, MasterCard, Maestro etc. trademarks.
  3. The Service provider shall have the right to unilaterally set additional requirements or restrictions about the acceptance of card payments.
  4. The service provider has a confidentiality policy, Data Protection Notice and Policy for the protection of the personal data and commercial secrets.
  5. Any personal information of cardholders provided to the service provider 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. Cardholder’s details can also be disclosed to FXChoice’s counterparties such as financial institutions or other service or payment providers when it is strictly necessary for our services.
  6. The service provider does not 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.
  7. In case of any suspicions or proven doubts for unauthorised access to information stored by the service provider for numbers of cards and other card information, the latter is obliged to inform the cardholder immediately thereof, as long as FXChoice has the necessary information to identify and reach them.
  8. The service provider has the right to refuse a card payment in case of:
    1. a invalid payment card;
    2. inability to confirm 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/payment provider.
  9. The service provider may prepare a visual message that the cardholder sees after receiving authorisation, after the rejection of the transaction, when making a card payment at the virtual POS.
  10. The service provider is obliged to provide reliable control for acceptance of payments through its virtual POS so as not to allow transactions that do not meet the purposes of these Terms and Conditions.
  11. The service provider is obliged to ensure on the 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.
  12. The card processing companies of the service provider shall be entitled to store the information about the payment order made by the cardholder according to the relevant rules for accepting payments with bank cards on the internet for at least 13 (thirteen) months as of the date of performance of the transaction.
  13. The paid services to the service provider could be cancelled under the service provider’s Client Agreement.
  14. The service provider does not have the right to offer and provide goods or services that are prohibited by law.
  15. Any actions of a customer depositing funds to a trading account, using the virtual POS terminal, will mean full acceptance of the Terms and Conditions of the service provider and its Client Agreement, annexes to it, and other rules, regulations and schedules established by the service provider.
  16. The service provider is obliged to carry out its business activity not to allow the offering and providing, directly or indirectly via its virtual POS and/or website, of the following goods and services:
    • Child pornography;
    • Depiction of crude violence and perversion;
    • Goods and services in violation of copyright, counterfeit goods and imitations of famous trademarks;
    • Trade in medicines with prescription;
  17. The current Terms and Conditions regulate the relationship between customers and the service provider regarding the acceptance, processing and servicing of non-cash payments with payment cards on the POS terminal, based on the website.
  18. The service provider 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 relationship between customers and the service provider (FXChoice) are regulated by the Terms and Conditions, Client Agreement, annexes to it, and other rules, regulations and schedules established by Service Provider, which are accepted by the customer.
  19. FXChoice is free to change the card processing company unilaterally for different countries and, as a consequence, the conditions for card deposits and withdrawals.

Rights and Obligations of the customers:

  1. When using the Virtual POS, subject to these Terms and Conditions for depositing funds into their trading account for trading services in Forex, precious metals and CFDs, the customer, who is a cardholder, should comply with the following:
    1. The service provider does not accept payments from third parties.
    2. The service provider does not accept any payments from high-risk regions, due to regulatory requirements.
    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. Customers are obliged to follow these Terms and Conditions and use their cards for depositing funds into their 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, USD or GBP upon receipt. 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. The service provider does not charge its customers, nor are they required to pay commission to the service provider, for transfers via card payments. However, the customers can be charged fees to third parties, as fees of the processing company(ies)/bank(s), which provides the Virtual POS services to FXChoice; fees of the institution which 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 regarding customer inquiries about accepting, processing and servicing non-cash payments with payment cards at its own virtual POS terminal for depositing funds into their trading account for trading services in Forex, precious metals and CFDs:
  2. As a consequence of FXChoice´s contractual relationships with its partners and card processors, it is possible, where the parties have agreed on it, that some transactions can be processed through other operators holding a Virtual POS, such as Best Solution EOOD. In such cases, the client will receive a notification on their Backoffice with all company details of Best Solution and the contact information as follows:

Disputed payments

  1. In case the service provider or its payment provider has any doubts for payments made with stolen, false or irregular cards made without the knowledge and consent of the authorised cardholder, the Service provider shall have the right to conduct an investigation, and the cardholder shall be obliged to cooperate and provide the information and documents requested by the service provider, its payment provider or card organisation, concerning the disputed payments.
  2. The cardholder shall indemnify the service provider 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.

 

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