Terms of Use of Fastex cards

Last revised: 11 November, 2024

FASTEX EUROPE UAB (hereinafter referred to as the “Company”), is a company incorporated under the laws of the Republic of Lithuania with registered address: Vilnius, Mėsinių g. 5, Lithuania.

These Terms and Conditions (hereinafter referred to as the “Fastex Card Terms”) constitute a legally binding agreement between the Company and each registered or unregistered end user (each, a "User," "you," or "your"). These terms apply to https://exchange.fastex.com/fastex-card or any other URL as may be designated by the

Company from time to time, as well as to any mobile apps or related services or applications (hereinafter referred to as the “Website”).

Fastex Card is a part of the "Fastex Services" as defined in the Fastex Terms of Use ("Fastex Terms") set forth here. Any aspect, feature, or circumstance that is not explicitly addressed or regulated by these Fastex Card Terms shall be governed by and subject to the Fastex Terms. By accepting these specific Fastex Card Terms, users acknowledge that they have read, understood, and agree to comply with the Fastex Terms, which can be found which can be a Terms and Conditions | Fastex. In case of any inconsistency between the Fastex Card Terms and the Fastex Terms, the Fastex Card Terms shall prevail.

The Fastex Card Terms should be carefully reviewed. By accessing and using the Fastex Card (including by purchasing or bidding on any items herein), you are deemed to have read, accepted, executed, and agreed to the herein rules (including the Fastex and Privacy Policy Terms incorporated by reference herein).

The Company may change or amend the Fastex Card or these Fastex Card Terms at any time at our sole and absolute discretion. Any changes to these Fastex Card Terms will be in effect as of the "Last Revised" date at the top of this page.

If any provision of these Fastex Card Terms, the Fastex Terms, or any future changes are unacceptable to you, please reconsider registering or using the Fastex Card. Your continued use of the Fastex Card following the posting of any notice of any change to these terms of service shall constitute your acceptance and agreement to such change.

The content on this Website may be available in multiple languages for user convenience. If there are any conflicts or omissions between different language versions, the English version will be considered authoritative.

1. Definitions

The following definitions are used:

• Account: an account opened and maintained by Fastex  for the Cardholder;
• Application: an application submitted to Fastex  by the Cardholder through the Website in order to order the Card;
• Business Day(s): any day other than a Saturday or a Sunday or a public or bank holiday in Lithuania;
• Card or Fastex Card: a payment instrument which has been issued by the Card Issuer to the Cardholder. The term may refer to physical card or virtual card;
• Card Issuer: any bank or financial institution that is a member of an International Card Organization and licensed to issue a Card, which authorizes Fastex  to provide access services to enable the Cardholder to apply for and use the Card.
• Cardholder: a person to whom the Card is issued to and who is authorized to use the Card;
• Service Fees: fees in relation to the issuance of a Card, currency exchange and Payment Transactions, including but not limited to those fees publicly available at the Fees and Limits page.
• International Card Organization: an international payment card organization such as MasterCard or VISA;
• Means of Authentication: the Cardholder data, the Card data (CVV, expiration date, etc.), PIN code and/or other means provided to the Cardholder by the Card Issuer that enable the Cardholder to be authenticated and operations initiated, including but not limited to, remote Payment Transactions initiated online;
• Payment Transaction: deposit, transfer or withdrawal of funds initiated by the Cardholder using the Card.

2. Fastex Card Services

2.1 Fastex Card is issued by a Card Issuer subject to license by an International Card Organization. To be eligible for a Fastex Card, you must be between the ages of 18 and 60 and reside in one of our approved countries. 2.2 The Fastex Card is not a credit card. It is a prepaid debit card with a fixed amount with a validity period of 36 months. The card does not support overdraft limits, meaning users can only spend the funds they have loaded onto the card.  2.3 You can recharge your Fastex Card using the following cryptocurrencies: USDT, USDC, BTC, ETH, and FTN. For clarity, the funds recharged to the Card or Account bear no interest. The minimum recharge amount and the maximum card limits and recharge limits are indicated on our Website. 2.4 You may use the Card for online platforms globally or certain offline payment scenarios that support Mastercard and/or Visa payment, as applicable, which may be changed from time to time subject to the requirements from the Card Issuer and/or corresponding International Card Organization. 2.5 The Card Issuer may cancel, revoke, repossess or restrict the use of the Card at any time. Fastex may decline to authorize or reverse charges or suspend the Card for any reason including but not limited to violation of the Agreements, suspected fraud, and creditworthiness of the Cardholder. Fastex may also decline to authorize Payment Transactions at merchants designated by the Card Issuer. Fastex will not be responsible for losses resulting from declined or reversed Payment Transactions.

3. Service Fees

3.1 The Cardholder shall pay the Service Fees for the issuance and usage of the Card described at our Website, which may be updated from time to time at the sole discretion of Fastex. 3.2 All Service Fees for the Payment Transactions shall be debited by Fastex from the Account. 3.3 Fastex’s decision to block the Card shall not be considered as termination of the Agreements. Therefore, the act of blocking the Card, i.e. refusal to carry out Payment Transactions, shall not free the Cardholder from the obligation to pay any Service Fee for provided services.

4. Card issuing and delivery

4.1 To receive the Card, the Cardholder must submit an Application to Fastex via the Website. 4.2 Fastex, after accepting the Cardholder’s Application, will issue a Card. In case of physical Card, Fastex (as applicable) shall be responsible for delivering such physical Card to the Cardholder after acceptance of the Application by Fastex. 4.3 The Cardholder, after issuing the Card, shall be provided with unique Means of Authentication. Such Means of Authentication are considered as the Cardholder’s signature in order to perform Payment Transactions. The use of the Means of Authentication shall mean the consent and authorization to perform Payment Transactions. 4.4 The delivery timeframe for the physical Card may vary depending on the Cardholder's country of residence. Fastex shall ensure that the Card is delivered to the Cardholder within seven (7) working days from the date of acceptance of the Application, unless otherwise specified. Fastex shall not be liable for any delays in delivery, regardless of the cause.

4.5 All returns or reshipments of the Card will incur fees that are fully payable by the Cardholder, including delivery costs. This particularly applies to instances such as a return due to the Cardholder’s absence at the delivery address, the provision of an incorrect or incomplete address, or any return or reshipment requested by the Cardholder.

5. Registration process

5.1 Prior to submitting an application on the Website, you must register on the Fastex Exchange, subject to the Fastex Terms of Use. You are also required to complete the necessary verifications as specified therein.  5.2 You acknowledge and agree that your access to and use of the Fastex Card are subject to identity verification and Know Your Customer (KYC) procedures in compliance with applicable laws and regulations. For this purpose, you will be required to provide all necessary information and documents to verify your identity and assess the legitimacy of your use of the Card Services.  5.3 You agree to provide a valid email address, mobile phone number, and other necessary details as per the user registration page requirements. Login to this Website can be accomplished using the provided email address, mobile phone number, or any other permitted method. As required by applicable laws, regulations, Privacy Policy, and anti-money-laundering policies, you must provide your real name, identity card, and other necessary information. It is your responsibility to keep this information up-to-date, ensuring its timeliness, completeness, and accuracy. Any loss or adverse consequences arising from inaccurate information will be your responsibility.  5.4 In the event of non-compliance with these requirements, Fastex reserves the right to suspend or terminate your access to the Card Services without prior notice.

6. Card payments

6.1 Only the Cardholder is entitled to perform a Payment Transaction with the Card. 6.2 The Payment Transaction may be performed by the Cardholder: a) immediately after a virtual Card is issued; b) only after a physical Card has been successfully delivered and activated. 6.3 The Cardholder may perform Payment Transactions only within the amount located on the Account and in accordance with the Card usage limits (such as monthly maximum amount for Payment Transactions, Card limit for risk control, etc.) indicated in the Agreements. Fastex reserves the right to determine Card usage limits from time to time at its sole discretion. 6.4 Fastex assumes that all Payment Transactions are consented to, authorised and initiated by the Cardholder, unless proven otherwise. 6.5 The use of the Card or Means of Authentication to initiate a Payment Transaction shall be considered as an authorisation and consent to carry out the Payment Transaction. Unless established differently for the protection of consumer rights, if the Cardholder provides consent to perform a Payment Transaction, the Cardholder is not entitled for a refund unless the payee agrees to refund the amount to the Cardholder. 6.6 If the Card Issuer determines that the Cardholder’s Card receives, or is likely to receive, a disproportionately high number of declined transactions, reversals, refunds, disputes, fees or other liability, the Cardholder may be subject to certain handling fees upon notice via email. The Cardholder may be refused to use the Card Services if it does not agree to such fees. 6.7 Payment Transaction performed by the Cardholder using the Card may be declined if: a) the Card is invalid or blocked; b) the Card Issuer or Fastex has closed, suspended or restricted the use of the Cardholder’s Account; c) the amount of funds needed to perform the Payment Transaction exceeds the available amount of funds on the Cardholder’s Account; d) the Payment Transaction exceeds the Card usage limits as provided from time to time; e) any other basis which arises from the Agreements or legal acts or the Cardholder is suspected of fraud or other illegal activities. 6.8 Fastex reserves the right to use third-parties’ services in order to ensure the execution of Payment Transaction or any other Card Services.

7. Cardholder’s obligations to ensure secure Card usage

The Cardholder has the following obligations to ensure the secure usage of the Card: a) to activate the physical Card before usage. This process has to be proceeded after receiving the physical Card. The Cardholder shall be liable for any damages to the Card due to premature activation or not following the Card activation instructions; b) to prevent the Card from any physical damage (in case of physical card) including copying, modification etc.; c) to observe the procedures and instructions provided by Fastex, the Card Issuer and/or corresponding International Card Organization, as well as other requirements described in the Agreements; d) to secure access to the Card and ensure it is used only by the Cardholder. This includes not sharing the PIN code with anyone, signing the back of the Card immediately upon receipt, and taking all necessary precautions to prevent unauthorized use; e) to immediately inform Fastex of any malfunctions that prevent performing Payment Transactions; f) to hold sufficient amount of funds on the Account to settle Service Fees and carry out Payment Transactions; g) not to provide the Card to any third parties unless otherwise required by law or the Card Issuer or Fastex; h) to safeguard the Card and/or Means of Authentication from any unauthorized use, loss, theft or leakage to any third party, and immediately inform Fastex  of the occurrence of such event to prevent further loss incurred by the Cardholder; i) not to use the Card outside the approved countries and/or for any and all illegal activities, including purchases of goods/services prohibited by applicable laws; j) In the event that the physical Card is lost or stolen, to report the incident to Fastex. The Cardholder is responsible for informing Fastex Exchange as soon as possible by using the report loss button available on the Fastex Card Page.  k) to immediately notify Fastex  of any change of the Cardholder’s personal information; and l) to follow any other obligations stated in the Agreements or required by Fastex , the Card Issuer and/or corresponding International Card Organization from time to time.

8. Card Cancellation

8.1 The rules for Card Cancellation shall be determined by the Card Issuer at its sole discretion. The Cardholder shall inquire Fastex  if he/she has any issue with the Card Cancellation. 8.2 For clarity, certain fees may be deducted from the balance of the Account when the Card is deactivated, depending on the type of the Card and subject to the rules of the Card Issuer.

9. Validity and Card blockage

9.1 If the Account is closed, the Card is considered expired and, therefore, no longer valid from the moment when the Account is closed. 9.2 In order to verify circumstances of Card use, Fastex reserves the right to block the usage of the Card if: a) Means of Authentication have been disclosed to any person who has no right to use the Card; b) the Account is cancelled, closed, suspended or restricted; c) the Card is used in the jurisdictions other than the approved countries; d) Cardholder’s activities performing Payment Transactions may be associated with fraud or any other illegal activities; e) any obligations are not duly performed by the Cardholder; or f) other grounds which are deemed important for blocking the Card at the sole discretion of Fastex . 9.3 If reasons for Card blocking remain, Fastex has the right to block the Card. 9.4 The Cardholder has the right to request the Card to be blocked at any time. 9.5 Fastex shall not be liable for any type of damages caused to the Cardholder or other third parties for Card blockage, unless otherwise determined by law.

10. Fastex’s rights in conjunction with prevention of money laundering and terrorism financing

Fastex, in accordance with Lithuanian and other applicable money laundering and terrorism laws, has the following rights: a) to exchange information and documents of the Cardholder to ensure the prevention of money laundering and terrorist financing; b) to regularly verify the information on identification of the Cardholder and at any moment request the Cardholder to submit additional documents; c) to apply temporary or permanent restriction on Cardholder’s performing Payment Transactions; d) to request documents and information of any kind regarding the Cardholder’s Payment Transactions or any other usage of the Card; e) to request documents and information of any kind regarding persons involved in the Cardholder’s Payment Transactions or any other usage of the Card; f) to request any other type of documents and information to ensure Fastex’s duty in prevention of money laundering and terrorism financing; and g) to refuse the execution of Payment Transactions or any other usage of the Card if the Cardholder does not comply with our requirements preventing money laundering and terrorist financing.

11. Liability

11.1 The Cardholder is fully liable for the breach of any obligation stated in the Agreements or any other legal acts. 11.2 Fastex shall not be held liable for the involvement of any third parties in processing the Payment Transactions. Furthermore, Fastex does not take responsibility of any third parties for the refusal to accept the Card for paying for goods or services. 11.3 Fastex shall bear no liability whatsoever for any fraudulent activities, loss, or theft of the Fastex Card. The Cardholder expressly acknowledges and agrees that Fastex disclaims any responsibility for financial losses, damages, or any other adverse consequences resulting from such incidents. The Cardholder further understands and accepts that Fastex will not provide refunds, reimbursements, or any form of compensation in relation to these events.  11.4. The Cardholder acknowledges and agrees that stop payment orders are not permitted under any circumstances. Once a transaction has been authorized using the Fastex Card, it cannot be canceled or reversed by the Cardholder. The Cardholder assumes full responsibility for all transactions made with the Fastex Card, and Fastex will not process any requests for stop payments or transaction cancellations.

12. Third-Party Service Providers

12.1 Fastex utilizes services provided by third parties providers for various functions, including but not limited to, the issuance of Fastex Card, payment processing, and other financial services. By using Fastex services, you acknowledge and agree that third parties providers perform certain aspects of these services. 12.2 Fastex collaborates with Alchemy Pay for the issuance of Fastex Card and the processing of related transactions. Alchemy Pay may, in turn, use additional service providers, such as Paytend, to facilitate these operations

13. Final provisions

13.1 This Agreement is governed by the laws of Lithuania without regard to conflicts of laws principle. The parties have hereby irrevocably agreed to submit to the exclusive jurisdiction of Lithuanian courts. The parties further agree that any lawsuit arising out of or related to this Agreement or your use of the Card or Card Services, which is brought by you or any third party, must commence within one (1) year after the cause of action arises; otherwise, such cause of action is permanently barred. 13.2 Fastex has the right to disclose information about the Payment Transactions performed by the Cardholder to the third parties who under legal acts have the right to receive such information. 13.3 This Agreement will be posted on Fastex’s Website and may be updated from time to time. The Cardholder has hereby agreed to review this Agreement periodically for any changes.

14.  Contact information

14.1 For more information on Fastex, you may refer to the information found on our Website.  If you have questions or feedback you can contact us via our Customer Support team at [email protected] or via our Customer Support team at www.fastex.com/contact-us. 14.2 We will contact you using the details you provide to us. This may include contacting you by email, SMS or telephone. It is important that you ensure that your contact details are correct and up to date.