Card Terms

Document last updated: 02.06.2021

Personal / General Spend Card Terms and Conditions of Use

These terms & conditions are for customers who reside in the United Kingdom

1. The card

1.1 These terms and conditions apply to any holder of this card (‘the card’). By using your card you are demonstrating your agreement to these terms and conditions.

1.2 The card is promoted by Cryptopay Ltd (co-brand partner), the programme manager is CPS Transfers Ltd and the card is issued by PayrNet Limited (“PayrNet”), a Railsbank group company. PayrNet is incorporated in England and Wales with registration number 09883437 and has its registered office at Kemp House, 152 City Road, London EC1V 2NX, United Kingdom. PayrNet is authorised and regulated as an electronic money institution by the Financial Conduct Authority with FCA reference number 900594.

1.3 You will apply for a card in a stated currency. All references to that currency in these terms and conditions are relevant to you.

1.4 The card is an e-money product, and as such, it is not covered by the Financial Services Compensation Scheme. In the unlikely event that PayrNet becomes insolvent, your funds may become valueless and unusable, and as a result, you may lose your money.

1.5 These terms and conditions are available online at You can request a copy of these terms and conditions at any point in their duration.

2. Definitions

In these terms and conditions, the following words and phrases have the meanings shown next to them:

ATM – means automatic teller machine or cashpoint facility or cash dispenser;

Business day – means a day between and including Monday to Friday, between 9 am and 5 pm (UK time) except for bank or public holidays in England and Wales;

Card / card – means your Cryptopay Visa Prepaid Card (including any secondary / companion or replacement card); A card in the context of these Terms and Conditions may mean a virtual or a physical card;

Card scheme – means Visa;

Fees – a variety of charges that can be raised for purchase and ongoing use of the card;

PIN – means personal identification number i.e. the security number provided for use with the card;

Purse value – means the maximum value of funds that can be held with the card at any one time; 

Supplier – a retailer, merchant or another supplier of goods and/ or services which accepts payment by means of a card, card number, PIN or card and signature;

Summary Box – The section that includes notification of charges, limits and restrictions associated with the card;

Supplier’s bank – the merchant acquirer used by the supplier for the purposes of receiving payments arising from transactions;

Prepaid Card – means a card with the features set out in these terms and conditions; 

Verification of identity – means confirming your personal identity and address of you by conducting electronic verification of your details or by you providing documentation of identity;

Virtual card – means a prepaid card, where card data required to conduct a payment with the card is available in electronic form only;

We / us / our – means PayrNet or co-brand partners acting on our behalf;

Website – means or any of our associated websites, APIs or mobile applications;

Year – 12-month period following the date when the card is issued to you and each subsequent 12-month period;

You / your – means the person or persons who have received the card and are authorized to use the card as provided for in this Agreement.

3. International payments

If you have a payment instrument which allows you to make overseas payments, the way we treat payments made to payment service providers outside the European Economic Area (EEA) will change as will payments in non-EEA currencies to payment services providers within the EEA and unless stated otherwise, your terms and conditions will apply equally to such payment transactions.

You'll no longer be able to pay charges for anyone you're making a payment to within the EEA (regardless of the currency of the transfer). The European Economic Area (EEA) includes all the member states of the European Union, Iceland, Norway and Liechtenstein.

4. Third Party Providers

You can choose to allow a Third Party Provider (TPP) to access information on your account, to combine and display information about your account with information from accounts you have with other payment service providers, and, if applicable to your payment instrument, to make payments for you from your account, provided the TPP is authorised by the FCA or another European regulator and you have given your explicit consent.

If you do, you must keep us informed of any incorrect or unauthorised transactions that happen so we can take steps to stop further misuse of your payment instrument and arrange any refund you've been entitled to. If you are thinking of using a TPP, it is important you check with the regulator whether it is authorised before you use it.

We can refuse or stop access to a TPP if we're concerned it isn’t authorised or if we believe it's fraudulent or acting fraudulently. If that happens, we'll contact you to explain why unless we believe that would compromise our security or it would be unlawful. This change will not affect any customers who do not use TPPs.

5. Loading the card

You will now be charged a standard administration fee to load your payment instrument. This fee will apply to all loading methods.All other fees will continue to apply as before. An up-to-date fee schedule is attached to this notice.

When you pay
Card type Sterling
Card type Euro
Card Type USD
Minimum single load: n.a.Maximum single load: 8000
Minimum single load: n.a.Maximum single load: 8800
Minimum single load: n.a.Maximum single load: 10000
Minimum single load: n.a.Maximum single load: 8000
Minimum single load: n.a.Maximum single load: 8800
Minimum single load: n.a.Maximum single load: 10000

    5.1  The time that it takes for your card balance to be updated when you load your card depends on the method that you use and the time that it takes for the funds to be sent to the Issuer. If the Issuer receives the funds on a business day, your card will be updated with the amount on the same business day. If the Issuer receives the funds on a day that is not a business day, the Issuer will update your balance on the next business day. You can check the transfer time, for example, with your bank or credit card provider if paying from a bank account or credit card.

    5.2  When funds are loaded onto your card, the payment is made in the same currency as that of your card. The currency you have used to load your card may be different to that of the card. The exchange will take place at the rate offered by the relevant FX provider, and FX conversion fees may be applied. You accept that the FX conversion rates may not be the best available in the market at the time. Your statement will show the exchange rate used which applied on the date that the card was loaded. Exchange rates may change and the exchange rate which applies when you check may not be the exchange rate that was used to convert your funds to load your card.

    6. Use of the card

    6.1  The card is a prepaid product which can be used to pay for goods and services at retailers that display the Card Scheme symbol. To use the card, present it at the time of payment. Use it in full or part payment of your purchase.

    6.2  When you receive your card, you must call +44 (0) 8447 744 502 (standard rates apply) and input the personal information unless your other card has been lost or stolen and you have reported the loss or theft to us. Alternatively, you can log in to your account at the Website and activate your card from there.

    6.3  You must not make purchases that exceed the balance of funds available on the card. Your balance will be reduced by the amount of each purchase you make. If any purchase takes you over your available funds or the card limits in force from time to time and set out in condition ATM withdrawal limit the transaction will be declined.

    6.4  You can use the card to make purchases in-store, via the internet or over the phone. Virtual cards can be used to make purchases via the internet or over the phone. The plastic card can be used to obtain cash through ATMs. There is no cash-back facility. This is not a debit card supported by a bank account and is not in any way connected to a bank account. It is also not a guarantee card, charge card or credit card. You will not earn any interest on any funds loaded onto the card.

    You must not use the card for:

    6.4.1 transactions at self-service petrol pumps;

    6.4.2  transactions for cash (other than ATM withdrawal) including for example cash back, cash from a bank, money orders, traveller’s cheques, foreign exchange, or bureau de change, or

    6.4.3  any illegal purposes.

    6.5 Your card cannot be used in situations where it is not possible for the supplier to obtain

    online authorisation that you have sufficient balance for the transaction. For example:

    transactions on trains, ships, and some in-flight purchases.

    6.6 We may stop, suspend or restrict your card or PIN on reasonable grounds relating to:

    6.6.1  the security of your card, card number or PIN, and

    6.6.2  the suspected unauthorised or fraudulent use of your card or PIN. We will, if possible,

    inform you before stopping, suspending or restricting your card or PIN that we intend to do so and the reasons for doing this. If we are unable to do so then we will inform you immediately afterwards. The requirement to inform you does not apply where it would compromise reasonable security measures or it would be unlawful to do so.

    6.7  We are not responsible for the quality, safety, legality, or any other aspect of any goods or services purchased with the card. We are not liable for the failure of any merchant to honour the card.

    6.8  We will not issue the main card under these terms and conditions to anyone under the age of 18 years old.

    6.9  We will perform a screening of your name against sanctions lists and will verify your identity and your current residential address via documents that will be requested during the onboarding process.

    6.10 Card is only available to eligible cardholders, who must be residents of EEA.

    7. Transactions

    7.1  You agree that any use of your card, card number or PIN constitutes your authorisation and consent to a transaction.

    7.2  The time of receipt of a transaction order is when it is received by us. If a transaction order is received after 6 pm on a business day then it will be deemed to have been received on the next business day. If the receipt does not fall on a business day then it will be deemed to have been received on the next business day.

    7.3  You cannot stop a transaction after it has been transmitted to us by giving your consent to the transaction, or once you have given your consent to the supplier for a pre-authorised payment.

    7.4  We may refuse a transaction or suspend or terminate the right to top up your card. We may do this if the relevant phone or computer link is busy. We may also do this if:

    7.4.1  a transaction might take you over your available funds on the card; or

    7.4.2  a transaction might take you over any of your card limits; or

    7.4.3  We reasonably believe that we need to do so to keep to the rules of the payment system under which your card is issued; or

    7.4.4  We reasonably believe that there are needs to do so to comply with any law or as a matter of good practice.

    8. Foreign currency transactions

    8.1  The card can be used for transactions which are not in the currency of the card although a fee will be applied for doing so.

    8.2  If you make a transaction in a currency other than the currency of the card we will change the amount into the currency of the card at the rate offered by the relevant Card scheme, and FX conversion fees may be applied. You accept that the Card scheme rates may not be the best available in the market at the time. We will charge a service charge (commission); see Summary Box.

    8.3 Exchange rates may change, and the exchange rate which applies on the date that you make your transaction may not be the same as the exchange rate we use on the date that we convert the transaction charge and deduct the service charge from your balance. The exchange rate applied will include this service charge. You can check the exchange rate used as described in condition 7. Your online statement will show the service charge.

    9. Payment Transaction for Unknown Amounts

    For card-based payment transactions where you do not know the exact amount of the payment transaction at the time you authorise it, we will not block funds on your payment instrument unless you authorise the exact amount to be blocked. This could be the case for payments you make at hotels or at fuel stations for example.

    We shall release any blocked funds without undue delay as soon as we are aware of the exact amount of the payment transaction and immediately after receipt of the relevant payment order.

    10. Late Execution of Payment Transactions

    If you are able to make payments directly from your account to another person and if a payment you asked us to make within the EEA arrives later than it should have, you can ask us to contact the receiving bank and ask them to treat it as if it was made on time.

    11. Checking your balance

    11.1 To check the available balance on your card or to review your transactions visit and follow the relevant instructions on the Website.

    11.2 You can decide whether information about your payment instrument should be actively provided by us (e.g. we can send a notification to your email address) or instead made available for you to obtain (e.g. via your online account, without an accompanying email notification).

    12. When your card expires

    12.1 The card’s expiry date is printed on the card. You must not use the card after its expiry date, and you will not be able to reload it. An additional cardholder’s card will expire on the same date as the main cardholder’s card. In the case of a virtual card, the card’s expiry date is available in your profile on the Website.

    12.2  Your card will not be renewed unless you have requested renewal through the Website.

    12.3  If you renew your card in circumstances under condition 12.2 this agreement will continue to apply.

    12.4 If you request that your card is not renewed under condition 12.2 you will not be able

    to use it after its expiry date. You can redeem any outstanding balance on the card up to 6 years after the expiry date by following the process in condition 13. If any balance remains on the card for more than 6 years after the expiry date, it will not be refunded.

    13. Redemption

    13.1 You can redeem all or part of your balance by writing to us at until the date that is 6 years after the expiry date shown on your card. We will transfer any redeemed funds into a GBP bank account via Faster Payments or a EUR bank account via SEPA which is in your name and held with a bank in the United Kingdom or the Single Euro Payments Area. We may request proof from you of the account name.

    13.2 You will be charged a fee (see Summary Box) to cover redemption costs on each occasion that you redeem if you redeem all or part of your balance at the following times

    13.2.1  where redemption is requested before termination of the contract;

    13.2.2  where the e-money holder terminates the contract before any agreement termination date; or

    13.2.3  where redemption is requested more than one year after the date of the termination of the contract.

    13.3 You will be reminded of this fee before redemption. Please note that if your balance is equal to or less than the amount you want to redeem in the circumstances listed above, the fee will equal your balance which will be reduced to zero.

    13.4 You will not be charged a fee for redemption if: a) we terminate this agreement, or b) if the request for redemption is at the termination of the contract or up to one year after that date.

    14. Liability

    14.1 If your card is physical, you must sign your card as soon as you receive it and keep it safe. You must always make sure that you:

    14.1.1  do not allow anyone else to use your card;

    14.1.2  do not reveal your PIN and never write down your password(s), PIN or any security information you have given us unless you do this in a way that would make it impossible for anyone else to recognise any of that information;

    14.1.3  only release the card, card number or PIN to make (or try to make) a transaction, and

    14.2 If your card is lost or stolen or someone else finds out the PIN or if you think your card, card number or PIN may be misused, you must:

    14.2.1  Call us immediately at +44 (0) 8447 744 502 (standard rates apply) - we have a 24-hour service so that we can stop your card and PIN or notify us by e-mail at (if we receive your email during our normal business hours, the notice will take effect immediately. If we receive your email outside of our normal business hours, the notice will not take effect until the start of our next working day) or block the card yourself in your personal profile on the Website, or

    14.2.2  if we ask, write to us within seven days to confirm the loss, theft or possible misuse (the address is 8 Devonshire Square, Spitalfields, London, EC2M 4PL, UK ), and

    14.2.3  stop using the card, card number or PIN 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 you can.

    14.3 If your card, an additional cardholder card, or any replacement card, is lost or stolen, once you have reported it you can request a replacement by calling on +44 (0) 8447 744 502 (standard rates apply). This is set out in the Summary Box.

    14.4 You may not be liable for any use of the card, card number or PIN by another person who does not have your permission to use it or if it is lost, stolen or destroyed, unless:

    14.4.1 you agreed to that person having your card, card number or PIN, or through gross negligence or carelessness, failed to comply with condition 14.1, in which case you may be liable for any use that occurs before you tell us in accordance with these terms and conditions, or

    14.4.2  you acted fraudulently then, to the extent permitted by law, you may be liable for misuse of the card, card number or PIN.

    14.4.3  Unless you have acted fraudulently or with intent or gross negligence, you will only be liable for a maximum of £35 (or the equivalent in the currency of your payment instrument) up until the time you inform us that your payment instrument has been lost or stolen. You will not be liable for any losses which occur on your payment instrument after you have informed us that it has been lost or stolen. If you're due a refund for an unauthorised transaction, we'll make sure you receive this no later than the end of the next business day.

    14.5 If your card is used without your permission or is lost or stolen, or if you think the card may be misused, we may disclose to law enforcement agencies, any information which we reasonably believe may be relevant.

    14.6 We will not be liable for:

    14.6.1  any abnormal or unforeseeable circumstances outside our reasonable control (for example, a failure of computer systems which happens for reasons outside our reasonable control or any industrial action which happens for reasons outside our reasonable control) if this prevents us from providing its usual service;

    14.6.2  any unauthorised or incorrect transaction, unless and until you tell us about that transaction, in accordance with this section;

    14.6.3  any person refusing to accept or honour (or delays in accepting or honouring) your card, card number or PIN, or

    14.6.4  any cash dispenser failing to issue cash. We will not be liable for the way in which you are told about any refusal or delay.

    14.7 In case of errors or disputes about transactions, write to us at

    15. Altering these Terms and Conditions

    15.1 We may change any of these terms and conditions, including fees and charges, or introduce new terms, by giving you at least two months’ notice. We may make all amendments to these Terms by posting the revised Terms on the Website or by emailing it to you, indicating when the revised Terms become effective.

    15.2 If we change these terms and conditions, the new terms and conditions will be available at from the date the change takes place.

    15.3 You will be deemed to have accepted any change to these terms and conditions unless you notify us of any objection before the proposed date of the change.

    15.4 Between the posting of the revised Terms or receipt of the notice and the proposed date of the change, if you notify us that you do not accept the change, this agreement will terminate immediately and subject to condition 13.4.2 you can redeem your total balance at that time without charge.

    16. Cancellation rights

    16.1 If you change your mind about having the card, you can cancel it within 14 days of the date you receive confirmation of your application being approved by writing us at You will not be charged for cancelling the card during this period. We will refund any balance remaining on the card to you and any fees that you have paid.

    16.2 We will reimburse you in EURO. If your card is denominated in a supported currency other than EUR, we will convert an appropriate amount or value of the relevant non-EUR currency into EUR, before transferring a corresponding amount of EUR. If we do this, the exchange will take place at the rate offered by the relevant FX provider, and FX conversion fees may be applied. You accept that the FX conversion rates may not be the best available in the market at the time.

    17. Ending this agreement

    17.1 We may terminate this agreement at any time. Unless there are exceptional circumstances, we will give you 2 months’ prior written notice.

    17.2 You can terminate this agreement and close the card by emailing us at or by following the relevant instructions on the Website provided you have withdrawn any balance remaining on the card subject to conditions 15.4 and 16.

    17.3 If you do not redeem your full balance within 6 years of your card’s expiry date, this agreement terminates.

    18. General

    18.1 By entering into this agreement, you agree that we may use your information in accordance with the ‘Data Protection Act 2018 and GDPR Data protection’ section of these terms and conditions, as set out in condition 21.

    18.2  We may monitor and/or record telephone calls between you and us or service providers.

    18.3  You must provide us with an email and postal address and phone number and let us know of any changes.

    18.4 We may need to contact you urgently if we suspect or find fraudulent activity has occurred on your account (provided we are not prohibited from doing so by law) or if we suffer a security threat. To do so, we may (for example) send you a text message instead of calling or emailing you, if we think this is the quickest way to contact you. When we contact you, we will also give you information on how you can minimise any risk to your payment instrument depending on the nature of the security threat.

    18.5 We’ll use the same contact details which you have already provided us with when contacting you. You must inform us immediately if your personal details or contact information change.

    18.6 We may transfer our rights or obligations under this agreement or arrange for any other person to carry out its rights or obligations under this agreement. You may not transfer any of your rights or obligations under this agreement.

    18.7  We can delay enforcing its rights under this Agreement without losing them.

    18.8  If we cannot enforce any paragraph, condition or part of a paragraph or condition under this agreement, it will not affect any of the other paragraphs, conditions or the other part of the paragraph or condition in this agreement.

    18.9 This agreement is governed by the law of England and Wales. The language of this agreement is English and all notices and information given under this agreement will be in English.

    19. Payment services information

    19.1 This condition 19 only applies if the supplier’s bank is located within the European Economic Area (EEA) and the payment services being carried out are transacted in Euro or another currency of an EEA member state.

    19.2 We will ensure that a transaction you make is credited to the supplier’s bank, or that returned funds following redemption or cancellation are credited to your bank within these timescales:

    Type of Transaction
    Transaction carried out in a currency other than Euro (€) or Pounds Sterling (£) OrTransaction involving more than one currency
    By the end of the fourth business day following the day on which the transaction or order is received
    Any other Transaction
    By the end of the business day following the day on which the transaction order is received

    19.3 If you use your card or provide your card details to a supplier to make a transaction before you know the amount which is going to be charged to your card, then you may be entitled to request a refund if the amount is unexpectedly large, provided that you tell us within eight weeks from the date the transaction is deducted from your balance but you will NOT be entitled to a refund if you have been told by us, or the supplier, of the amount of that transaction at least two weeks before the transaction is due to be deducted from your balance, and you consented to the transaction.

    19.4 On receipt of such a request under condition 19.3, we may require you to provide us with the information to ascertain whether the conditions in condition 19.3 have been met. Within 10 business days of receiving a request from you under condition 19.3 or of receiving any additional information required under this paragraph, we will provide a refund or justify why we are refusing the request.

    19.5 We are liable for the correct execution of the transaction unless we can prove that the transaction was received by the supplier’s bank, in which case the supplier’s bank is liable to the supplier. You may request that we make immediate efforts to trace an incorrectly executed transaction and notifies you of the outcome.

    19.6 When a supplier initiates a transaction it is the supplier’s bank which is liable for the correct transmission of the relevant details to us. If the supplier’s bank can prove that it is not responsible for a transaction which has failed or has been incorrectly executed, we will be responsible to you.

    19.7 If we are responsible for an incorrect amount of a transaction being deducted from your balance, we will correct the error. If we are responsible for a transaction being deducted from your balance that you did not authorise, we will refund the amount of the transaction to your balance and treat the transaction as if it had never occurred. You must inform us of an unauthorised or incorrect transaction as soon as possible and in any event no later than 13 months after the debit date. If you do not do so, we may not be liable.

    19.8 We are not liable if you incorrectly identify the supplier under a transaction. In such a case, we will make reasonable efforts to recover the funds involved.

    20. Complaints and how to contact us

    If you would like to make a complaint or contact us for any other reason connected to these terms and conditions please e-mail us at and send us our Complaints Form filled in with the details of your complaint. We have procedures in place to make sure that we handle your complaint fairly and quickly. However, if you are not satisfied with the outcome of your complaint, you can write to Financial Ombudsman Service at Exchange Tower, Harbour Exchange Square, London E14 9SR.

    20.1 We will try to resolve any complaints you have about your payment instrument or the service we provide to you within 15 business days of receiving your complaint and in exceptional circumstances, within 35 business days (and we will let you know if this is the case).

    21. Data protection

    21.1 Protecting your privacy is very important to us. In order to know how we manage your information, please refer to the Privacy Policy Where your data is processed by a co-brand partner, please refer to the privacy policy which can be accessed here:



    This table summarises key product features and information and is not intended to replace the terms and conditions of the product. The fees’ limits and restrictions that apply to each card are set out below.The fees and limits apply for both physical and virtual cards, where such a transaction is possible. ATM transactions are not possible with a virtual card.

    The fee structure for your card depends on whether you have purchased a ‘Sterling Card’ ‘Euro Card’ or ‘US Dollar Card’.

    Fees and limits*
    Sterling Card
    Euro Card
    US Dollar Card
    Fee to buy virtual card
    Fee to buy plastic card
    Fee for upgrading a virtual card to a plastic card
    Fee for loading card via Website 
    Fee for unloading card funds to base account at Website
    Fee for termination
    Card limits
    Maximum balance at any time
    45 000 
    50 000
    58 000
    Maximum single load
    8 000
    8 800
    10 000
    Maximum daily load
    8 000
    8 800
    10 000
    Maximum monthly load
    240 000
    264 000
    300 000
    Maximum annual load
    2 900 000
    3 210 000
    3 650 000
    Maximum single card payment
    27 000
    30 000
    34 500
    Daily ATM withdrawal limit
    Annual ATM withdrawal limit
    146 000
    164 000
    182 000
    Transaction fees 
    Fee for purchases in the currency of the card
    Service charge (commission) for purchases not in currency of the card
    Cash withdrawal fees
    Fee for ATM withdrawal in the currency of the card. NOTE ATM providers may raise additional charges.
    Fee for ATM withdrawal in a currency other than the currency of the card. NOTE ATM providers may raise additional charges.
    Usage restrictions
    Automated fuel dispensers (5542)
    Ongoing features
    Monthly administration fee
    Dormancy fee (charged monthly after 1 year of card inactivity)
    Rejected Chargeback
    • We may occasionally reduce prices in limited-time offers. Please check the Website regularly to learn about our limited-time offers.