CARDHOLDER TERMS AND CONDITIONS

IMPORTANT INFORMATION: This Agreement relates to the Programme and Additional Services. Please read the terms and conditions of this Agreement carefully before applying for Your Account and Card with the Programme. This Agreement and its terms and conditions, as may be amended from time to time on notice by Us, becomes effective and binding on Your successful application and activation or use of Your Account and/or Your Card and for the entire period of validity of Your Account and Card.

The terms and conditions apply to the Programme, which consists of the Account and Card issued to You by the Issuer and operated by Programme Manager (together “We”, “Us” or “Our”). The Account and Card enables You to load and create an Available Balance (which is E-money), spend the Available Balance to purchase goods and services online or at a point of sale and withdraw cash at relevant ATMs.

1. PROGRAMME AND PROGRAMME MANAGER INFORMATION

1.1 See Definitions & Interpretation

1.2 The King One card is issued by Card Issuer pursuant to a licence by Mastercard International. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated

1.3 The King One Account is issued by Issuer, under permission from the Bank, pursuant to agreement with the relevant Scheme and Bank.

1.4 The Programme is a corporate electronic wallet and attached Card program (debit cards) for purchasing goods and services, digitally and physical as well as transferring money.

2. CARD ORDER

2.1 The presentation of the Card and the associated Account on our website does not constitute a legally binding offer. Instead, it serves as an invitation for you to submit a request to purchase these services. During the ordering process, any input errors can be corrected by selecting the ‘Correct Data’ button in the order summary. The contract may be concluded in either German or English. By submitting your order via the designated order button, you are making an offer to enter into a contract under the terms specified at the time of ordering.

2.2 Upon receipt of your order, we will send you an email confirming that we have received it and providing details of your order (the "Order Confirmation"). This confirmation does not constitute acceptance of your offer. The contract will only be deemed concluded once you have successfully completed the identification process as outlined in Section 4 of these Terms and Conditions, and we have confirmed the successful completion of this process via a second email.

2.3 The execution of the contract begins on the specified start date, subject to the provisions of Clause 2.2. Any communication between you and us, as well as the contractual terms, will be in either German or English.

3. FEES AND CHARGES

3.1 All Fees and Charges relating to the Programme are in the Fees and Limits Schedule to this Agreement. Fees will be deducted from Your Account balance automatically.

3.2 If You make a transaction that requires one or more currency conversions, the Programme will charge You a foreign exchange fee which is detailed in the Fees and Limits Schedule to this Agreement. Where applicable, the exchange rate will be made at a wholesale market rate or government mandated rate, at their discretion, with an additional percentage fee applied by the Scheme or Bank. Changes in the wholesale exchange rates may happen immediately without notice to You.

4. APPLYING FOR AN ACCOUNT AND CARD

4.1 To apply for, and use, an Account and Card relating to the Programme You must be at least 18 years of age and reside in EEA, Switzerland or the UK. An Account and Card may be applied for on the Website or App and via Your Account respectively.

4.2 Provided the Programme has been able to undertake KYC to a satisfactory standard as per the Programme AML Policy, which can be found on the Website, You shall receive an activation confirmation by Your email or on Your App and You will be able to use the Account.

4.3 We may require you to provide documentary evidence for identity verification purposes and/or conduct electronic verification checks. In the course of these checks, your personal information may be shared with credit reference agencies and fraud prevention agencies. These agencies may retain a record of the information, and a trace may appear on your credit file. However, this trace will indicate that the check was conducted solely for identity verification purposes and not as part of a credit application. As a result, it will have no negative impact on your credit rating.

4.4 When applying for an Account on the Website or App, You will be prompted to create a username and password. You will need this username and password (collectively Your “Security Details” for the Account) to access Your Online Account and perform the following functions (as well as any other functions specified in the Website or App) in relation to Your Card online:

4.5 You are permitted to have only one Account where the Available Balance of E-money, which may be redeemed, can be found. If we discover that You do have more than one Account, We may block Your Card or Account without notice and terminate this Agreement with You forthwith.

4.6 The Account is debit only and can only be used to access the Available Balance in Your Account. It has no function to apply for credit or an overdraft.

4.7 You may apply for one or up to 10 Cards (physical Card and/or virtual Card) for Your Account and each shall constitute a ‘Card’ for the purpose of these Terms and Conditions. The Card is a debit card that can only be used to spend the Available Balance in Your Account. It is not a credit card, charge card or guarantee card and is not attached to a bank account.

4.8 A virtual Card is issued immediately on approval of Your application for a Card. We will endeavour to send any physical Card applied for to You within ten (10) Business Days of approval, however, please be aware that in some instances it can take longer for Your Card to arrive.

4.9 You can apply for up to 10 Cards for Your Account subject to due diligence. Up to 3 of those cards may be physical and up to 7 may be virtual.

4.10 If You receive a physical Card You must sign the signature strip on the back of the Card as soon as You receive it and then follow the instructions on the App to activate it. You will be provided with a unique PIN for the physical Card by Us in the App.

5. MANAGING YOUR ACCOUNT

5.1 We will make your monthly statements available within your Account and notify you via App when a new statement is ready. Each statement will include: a reference allowing you to identify each transaction; the transaction amount; the currency in which your Card or Account was debited; any applicable transaction fees, along with a breakdown where relevant; the exchange rate applied by us and the transaction amount after conversion, if applicable; and the date the transaction was debited. If no transactions occur on your Card or Account within a given month, no statement will be provided.

5.2 You will need internet access to manage your Card or Account. You can check your balance, view your Available Balance, and review recent transactions—updated daily—by logging into the secure area of our App and following the login instructions for your Card or Account.

5.3 If you require the information outlined in Clause 5.1 more than once per month or in a format other than email, we may charge reasonable administrative fees to cover associated costs.

6. ACCOUNT AND CARD LIMITS, LOADING, USAGE AND AUTHORISATION

Loading

6.1 Funds may be added to Your Account by any of the permitted methods set out in the “Loading Fees” section in the Fees and Limits Schedule to this Agreement.

6.2 To load Your Account by a debit card, You must use a debit card that has been issued by a regulated financial institution in the EEA and registered in the same name and address as Your Account. To load Your Account by bank transfer, You must use a bank account that has been issued by a regulated credit institution in the EEA and registered in the same name and address as Your Account.

6.3 The Programme reserves the right to request further KYC documents and verification of Your source of funds at any point.

6.4 Fund loading limits may vary according to the type of Card or Account and as set OR in the Fees and Limits Schedule to this Agreement.

6.5 Once Your Account has an Available Balance, following fund loading, it can be used to make payments or load Your Card (if applicable).

Usage / Redemption

6.6 You can use Your physical Card with Your PIN to withdraw cash from ATMs and at bank counters (where the bank permits it) or to buy goods and services online or at a point of sale at any Merchant who accepts the Scheme. You can also use Your Account to make payments using the Scheme to external bank accounts via the Scheme and other methods as added and notified to You from time to time. A withdrawal fee may apply to withdrawals as set out in the Fees and Limits Schedule to this Agreement.

6.7 You must always ensure that You have a sufficient Available Balance for each Transaction You authorise (including value added tax and other taxes, duties and applicable fees as set out on in the Fees and Limits Schedule to this Agreement. If the Available Balance is insufficient to pay for a Transaction, and the Merchants does not permit You to combine the use of Your Card with other payment methods, the transaction will be declined.

6.8 If for any reason a Transaction is carried out but its amount exceeds the Available Balance, You must pay us the deficit immediately, and if You fail to do so after receiving a notification from us, We reserve the right to terminate this Agreement between us and take all necessary steps, including legal action, to recover this deficit.

6.9 There are certain circumstances where a Merchant may require You to have an Available Balance greater than the value of the Transaction You wish to make. However, You will only be charged for the actual and final value of the Transaction. Merchants may request this as they may need to access more funds than You initially planned to spend (“the relevant funds”) for example, when making hotel or car rental reservations. In the event that a Merchant has prior authorisation on Your Card, You may not have access to the relevant funds until the Transaction is completed or, if sooner, up to a period of 30 days. However, the Programme will only block access to the exact amount of funds authorised by You.

6.10 Your Card cannot be used where such Merchants are unable to obtain online authorisation that You have sufficient Available Balance for the Transaction (for example, Transactions made on trains, ships, some in-flight purchases and at tollbooths). We accept no liability if a Merchant refuses to accept payment using the Card.

6.11 Your virtual Card cannot be used to purchase an item online that subsequently requires presentment of a physical card in order to obtain that item (i.e. certain theatre ticket purchases, hotel stays and car rentals).

6.12 When You use Your Card to pay for goods and services, You may need to enter Your unique PIN. Once Your PIN has been accepted the transaction or ATM withdrawal cannot be cancelled by the Programme.

6.13 When entering into Transactions over the internet, some websites may require You to enter Your Personal Details and, in such instances, You should supply the most recent Personal Details that You have provided the Programme with via the Website or App.

Limits / Declines

6.14 Transactions are subject to limits and compliance with the in the Fees and Limits Schedule to this Agreement]. You can also view the limits applicable to Your Card in Your Account.

6.15 The one-time virtual Card is only valid for a limited period and can only be used for a single transaction. The expiration date will be shown on the Card.

6.16 We may decline a transaction, place restrictions on Your Card or Account or apply special security procedures in respect of transactions if:

6.17 Payments using Your Card or Account for any transaction made in a currency other than supported currencies, will be subject to Scheme acceptance terms, Scheme conditions and Scheme fees.

6.18 Any refunds for goods and services purchased with Your Card will be made in accordance with the refund policy of the Merchant. Once the Programme receives the funds, the Programme will load Your Account immediately or transfer the funds to Your Debit Card or Personal Bank Account used to load the Account.

Authorisation

6.19 You will need to give Your consent to each Transaction so that the Programme can check it is genuine by, where applicable, a) using Your PIN or other Security Details personal to You; b) signing a sales voucher; c) providing the Card or Account details and/or providing any other details personal to You and/or Your Card or Account. Once You have given such consent to the Transaction, it will be deemed to be authorised.

6.20 The time of receipt of a Transaction order is when the Programme receives it. If a Transaction order is received after 4pm on a Business Day, then it will be deemed to have been received on the next Business Day.

6.21 Once a Transaction has been authorised by You and received by the Programme, it cannot be revoked.

6.22 Where a Merchant's payment service provider is located within the EEA and the payment services being carried out are in the currency of an EEA Member State, the Programme shall ensure the cash transfer to the Merchant's payment service provider within 4 Business Days following the day on which the Transaction order is received.

6.23 Certain Merchants may not accept payments made through the Card or Scheme and the We accept no liability for this: it is Your responsibility to check the restrictions of each Merchant.

6.24 Your ability to use or access the Card or Account may occasionally be interrupted, for example if the Programme needs to carry out maintenance on its systems or websites. Please contact Customer Services to notify the Programme of any problems You are experiencing using Your Card or Account and the Programme will try to resolve these as soon as possible.

7. ADDITIONAL CARDS

7.1 At the Programme’s sole discretion and provided We have received sufficient KYC, You may be eligible to apply for Additional Cards, subject to Clause 4.9, connected directly to Your Account.

7.2 Funds can be loaded from Your Available Balance, directly on to any Additional Cards, which will be connected to the same Account as the Primary Card.

7.3 Virtual Cards can be activated at any time with balances transferred from the Account to load Virtual Cards for usage.

7.4 If this agreement is terminated, access to your balance will cease for any additional cardholder and any additional cards will expire or terminate as applicable.

8. KEEPING YOUR ACCOUNT, CARDS AND PIN SAFE

8.1 You are entirely responsible for Your Account, Security Details for Your Account, Card, PIN and must take all possible measures to keep them safe and entirely confidential. You may share Your name with other customers of the Programme only for the purpose of customer to transfers between Accounts.

8.2 We will display the PIN for use with Your physical Card in our App. You will need this PIN in order to make cash withdrawals from an ATM or at a bank or occasionally for making transactions.

8.3 Keep Your PIN safe, by memorising it, never disclosing it to anyone, or by letting anyone see You enter it. We recommend You do not write it down. If You do write Your PIN down or disclose it to any other individual, You may be held liable for any unauthorised or fraudulent transactions made using Your Card.

8.4 If You suspect that someone else knows Your PIN for Your Card or Security Details for Your Account, change them as soon as possible in Your Account or on the App. If You are not able to do so, please contact Us immediately to discuss.

8.5 You should check recent transactions and monitor the transactions history of Your Account regularly. If You do not recognise a transaction, then report it immediately (see below for reporting).

8.6 You must not give Your Card to any other person or allow any other person to use it. You may be held liable for any unauthorised or fraudulent transactions made using Your Card.

8.7 Once Your Card has expired or if it is found after You have reported it as lost or stolen You must destroy it by cutting it in two through the magnetic strip and disposing of it securely.

8.8 We reserve the right to require You to register for, and/or use enhanced online transaction security systems for customer authentication, which may include a one-time password as well as other third-party authentication.

8.9 Failure to comply with this Clause may affect Your ability to claim any losses in the event that we can show that You have intentionally failed to keep the information safe or You have acted fraudulently, with undue delay or with gross negligence.

8.10 You agree to cooperate with Our agents, any supervisory or regulatory authority, the police and Us if Your Account Security Details are lost, stolen, compromised or if we suspect fraudulent use of the Account.

9. REPORTING PHYSICAL CARDS LOST OR STOLEN

9.1 If Your physical Card is lost or stolen You must report it immediately by logging into Your Account and using the online facility (You may also report it through the App or ringing the phone number for lost or stolen cards listed on the Website). We will take immediate action to protect the money in Your Account. Alternatively, You can temporarily block the Card at any time by logging into Your Account and using the “freeze” functionality.

9.2 If there is money in Your Account after blocking the Card on Your account, the Programme will cancel Your Card and issue a new Card to Your current address within seven days. A Card replacement fee will apply as set out on in the Fees and Limits Schedule to this Agreement.

9.3 You agree to cooperate with Our agents, any supervisory or regulatory authority, the police and Us if Your Card is lost, stolen or if we suspect fraudulent use of the Card.

9.4 Failure to comply with this Clause may affect Your ability to claim any losses in the event that We can show that You have intentionally failed to keep the Security Details safe or You have acted fraudulently, with undue delay or with gross negligence.

10. REPORTING UNAUTHORISED TRANSACTIONS OR DISPUTED TRANSACTIONS

10.1 If You believe that any of the transactions on Your Card or Account were unauthorised or incorrectly posted to Your Account, You must notify Customer Services as soon as You become aware but not later than 1 months of the date of the debit to Your Account. If the Transaction is one where the exact amount of the transaction was unknown at the time of authorisation (e.g. car rental or a hotel reservation) and the transaction amount appears incorrect, You must notify Customer Services within eight (8) weeks of the date of the debit to Your Account.

10.2 Unless the Programme has reason to suspect fraud by You, or that You have failed to comply with these Terms and Conditions, or the Account Terms with intent or gross negligence the Programme will refund the amount of the unauthorised or incorrect transaction(s) as soon as practical.

10.3 Where You have made an authorised Transaction but have a dispute with the merchant, the Programme will require You to provide written confirmation of the disputed transaction within 120 days of the Transaction date. The written confirmation should be sent to Customer Services using the contact form which can be found on the Website and in the App. Alternatively, You can contact Customer Services, in writing or by telephone, to request a form to complete.

10.4 If:

10.5 the Programme will re-deduct the amount of the transaction from Your Account plus, in the event of 8.4(ii) only, You will be charged a fee as set out on in the Fees and Limits Schedule to this Agreement. Please note that any cash withdrawals or Open Banking Transactions and Direct Debit payments will not be covered under the Scheme regulations.

10.6 In the event that a Transaction is made which is initiated by Merchant (i.e. through Open Banking authorisation), we will provide a refund of that amount, subject to this Clause, only in circumstances where You can prove that:

10.7 The refunds referred to above will not be provided if:

10.8 If investigations performed by the Programme show that there have been unauthorised or incorrectly executed Transactions on Your Account then, provided that Your claim is made within the time limits specified in this Clause, You will not be liable for such transactions.

11. PAYMENT DISPUTES

11.1 If You dispute a Transaction that You have authorised and which has been processed on Your Card, You should settle this with the person You bought the goods or services from; the Programme is not responsible for the quality, safety, legality or any other aspect of goods or services purchased with Your Card.

11.2 If Your dispute with a person or Merchant relating to a Transaction cannot be resolved You should contact Customer Services, for the Programme to attempt to assist You as far as is reasonably practicable.

11.3 If You have reason to believe that a Transaction was carried out without Your consent or in error, You may ask the Programme to investigate the Transaction by contacting Customer Services. If the Programme investigates the Transaction, the disputed amount will be unavailable to spend until our investigation is complete and if the Programme receives information that proves the Transaction was genuine, this will be deducted from Your Available Balance and the Programme may charge You an investigation fee as set out in the Fees and Limits Schedule to this Agreement. If You do not have sufficient Available Balance for the Transaction or the investigation fee, You must repay the Programme the amount immediately on demand.

12. THIRD-PARTY ACCESS

12.1 You can instruct a TPP to access information on your Account or initiate certain Transactions from your Account provided such TPP has identified itself to Us and it has acted in accordance with the relevant regulatory requirements. We will treat any instruction from an TPP as if it was from You.

12.2 We may deny a TPP access to your Account if we are concerned about unauthorised or fraudulent access by that TPP setting out the reason for such denial. Before doing so, we will tell You that we intend to deny access and give our reasons for doing so, unless it is not reasonably practicable, in which case we will immediately inform You afterwards. In either case, we will tell You in the manner in which we consider most appropriate in the circumstances. We will not tell You if doing so would compromise our security measures or would otherwise be unlawful.

12.3 If You have provided consent to a TPP to access the data in your Account to enable them to provide account information services to You or initiate Transactions on Your behalf, You consent to us sharing your information with the TPP as is reasonably required for them to provide their services to You. You must let us know if you withdraw this permission and we recommend You let the TPP know. On notification from You, we will not provide such TPP access to your Account or the data in it.

13. FOREIGN EXCHANGE

13.1 If You use Your Card or Account to make a transaction for a product or service in a currency other than the currency in which Your Card or Account is denominated, the amount deducted from Your Available Balance will be the amount of the Transaction converted to Your Account currency using a rate set by the Scheme. You may also be charged a foreign exchange Fee as set out in the Fees and Limits Schedule to this Agreement. In order to allow You to compare charges for currency conversion, You can view the real-time percentage difference between the amount that will be charged on Your Card or Account for a foreign currency transaction (consisting of the mark-up applied by the Scheme as well as any other charges) and the latest available euro foreign exchange reference rates issued by the European Central Bank. You can view this information on the Website and App.

14. ADVISING CHANGES OF PERSONAL DETAILS OR FINANCIAL SITUATION

14.1 If You change name, address or contact details such as telephone number or e-mail address You must notify the Programme within 14 days of the change.

14.2 The Programme reserves the right at any time to perform checks to confirm that the personal details You provide are accurate (for example, by requesting relevant original documents), including for the purposes of preventing fraud and/or money laundering. In addition, at the time of Your application or at any time in the future, in connection with Your Account, You authorise the Programme to undertake electronic identity verification checks on You either directly or using relevant third parties.

14.3 It is also important to notify the Programme without delay of any changes to Your circumstances that may affect the running of Your Account or Your Card, by contacting Customer Services (details below).

15. WHAT WILL HAPPEN WHEN YOUR CARD EXPIRES

15.1 You will not be able to use Your Card following its Expiry Date.

15.2 Physical Cards and reloadable virtual Cards may be automatically renewed at the Programme’s discretion. Unless requested otherwise, this will be on the same pricing as set out in the Fees and Limits Schedule to this Agreement as the expiring Card.

15.3 One-time virtual Cards will not be usable after the expiration date and a replacement Card will not be issued to You.

15.4 Upon expiry of Your Card, unless renewed, You will still be able to obtain a refund of any Available Balance in accordance with the Clauses below. If You do not request a redemption of Your Available Balance, the Monthly Account Fee as set out in the Fees and Limits Schedule to this Agreement will continue to be charged to Your account, even if Your account is inactive or Your Card has expired.

16. USE OF YOUR PERSONAL DATA

16.1 The Programme is a data controller of personal data provided in connection with the Programme, Your Account and Card and, where You consent, Information on how the Programme uses and protects Your personal data is available in the Programme Privacy Policy on the Website. The Issuer is also a controller of personal data provided in connection with the Programme.

16.2 Information on how Your personal data is used by the Programme is set out in this section.

16.3 The Programme may use third parties to process personal data on Our behalf. Such third parties may include creditors or potential transferees of rights and obligations under this Agreement.

16.4 The Programme will process and retain personal data in order to open and administer Your Account and Card, to deal with any enquiries You have about it and comply with regulatory obligations. The types of personal data processed are likely to include, but is not limited to, name, address, date of birth, contact details, financial information, employment details and device identifiers.

16.5 If the Programme suspects that it has been given false or inaccurate information, it may record that suspicion together with any other relevant information. Decisions may be made by automated means.

16.6 If illegality is identified, Programmes may pass details to the Issuer and UK and EU Authorities and Regulators. In addition, the Issuer and Law Authorities and Regulators in the UK and EU may request, access and use this information in order to detect, investigate and prevent crime.

16.7 The Programme and other organisations may also access and use this information to prevent fraud and money laundering. When the Programme, Issuer or Law Authorities and Regulators in the UK and EU process Your personal data, it is done so on the basis of a legitimate interest in preventing fraud, money laundering, and to verify identity. These processes are carried out in order to protect the Programme, the Issuer, other customers, and to comply with regulatory requirements.

16.8 Please contact Customer Services if You want to receive details of relevant Law Authorities and Regulators in the UK and EU and/or contact the Programme’s Data Protection Officer.

16.9 The Programme and other organisations may access and use the information recorded by Law Authorities and Regulators in the UK and EU in other countries.

16.10 The Programme may check all personal information given by You with Law Authorities and Regulators in the UK and EU and other organisations. For the purpose of enabling use of Your Card, the Programme may also use information about any device, computer, network and browser You use.

16.11 Personal data may also be transferred confidentially to other organisations within the Issuer’s group of companies and to relevant third parties so that the Programme can manage Your Card or Account.

16.12 You can also obtain any details of the information the Programme and We hold about You and/or, details of any other person to whom the Programme and We may pass Your information (where the Programme and We are not prevented by law), by writing to Customer Services. You have a legal right to these details (in most circumstances) and, where applicable, to object to the Programme and Us processing Your personal data and/or request that Your data is corrected or erased.

16.13 The Programme and We reserve the right to process data in countries outside the European Union, however the Programme and We will ensure adequate protection for personal data transferred to countries outside the European Union as required by data protection legislation.

16.14 To facilitate the processing of payments, the Programme and We may share Card or Account Usage information with specified third parties strictly in accordance with any nationally published Code of Conduct or similar, relating to the receipt and dispersal of government benefits.

16.15 You have the right to:

16.16 As part of this contractual relationship, we share data with Creditreform Boniversum GmbH, Hammfelddamm 13, 41460 Neuss ("Boniversum") regarding the application, initiation, agreed processing, and termination of this business relationship to facilitate an assessment of your creditworthiness. Additionally, we may report data to Boniversum in cases of non-compliance with contractual obligations or suspected fraudulent activity. Any such reports will only be made in compliance with the General Data Protection Regulation (GDPR) and the German Federal Data Protection Act (BDSG) and will be subject to a careful assessment of all involved interests.

16.17 If such data transmission is legally permissible, you expressly release us from banking secrecy obligations.

16.18 Boniversum stores the transmitted data and may share it with its contractual partners within the European Economic Area (EEA) for the purpose of assessing individuals' creditworthiness. Boniversum’s contractual partners primarily include financial institutions, credit card companies, and leasing providers. Additionally, Boniversum may supply data to retailers, telecommunications companies, and other service providers offering goods or services on credit. Data will only be disclosed when a legitimate interest has been credibly demonstrated in a specific case. Furthermore, Boniversum may provide address data for debtor identification purposes. When issuing creditworthiness information, Boniversum may also include a probability score derived from its stored data to assist its partners in evaluating credit risk (scoring method).

16.19 Further details about Boniversum's activities can be found in the Boniversum information sheet on GDPR or online at www.boniversum.de/eu-dsgvo.

16.20 For further details, please refer to our Data Protection Policy available at https://kingcard.eu/en-gb/privacy-policy. By placing an order online, you acknowledge and accept this policy as part of the Agreement.