LiteForex Group of Companies is pleased to offer a new, fast and secure way to transfer funds and make payments – it is the LiteForex Card, a prepaid card developed together with our partner UWC Financial Services Ltd.*
LiteForex Card – is a prepaid MasterCard®, which provides its owner with several advantages. It can be used as a regular debit card; however it does not require binding to a bank account and therefore credit checks are unnecessary. You can make payments in more than a hundred countries all over the world with the help of this card, wherever the trading brand MasterCard® is represented.
Why LiteForex Card?
The main advantages of our card are as follows:
- Credit history and credit checks are not required
- No chance of negative balance
- Transactions limited to $12000 per week
- No limit on annual balance
How does it work?
Just transfer money to your LiteForex Card! The card can be used wherever the brand MasterCard® is represented. You can only spend the funds transferred to the card, therefore no penalties for negative balances are incurred. You can withdraw money from LiteForex Card in any ATM/Cash machine where MasterCard® is represented. LiteForex Card can be used for online payments or for payments in shops or retail sales in any place where MasterCard® is accepted for payment.
How to order it?
To order a LiteForex Card, you need to log in to a Client's Profile and fill in the form (Full verification of your Profile is a prerequisite for ordering a card). Once you read and accept the terms of the Agreement and pay costs for issuing and delivery of card, it will be issued and mailed to your address.
Delivery costs:
- $15 – delivery by normal mail - within 14 working days (This period is approximate and depends on the work of postal services)
- $65 – express mail delivery – within 5 working days
* For clients who wish to deposit an initial lump sum of more than $2500, normal mail delivery is free of charge.
For clients who wish to deposit an initial lump sum of more than $5000 (by any method), both delivery types are free of charge.
You should activate the card upon its receipt; enter the last four characters of the card number in your Client's Profile. Following on-line activation by client the card is valid for use within 24 hours.
Please note that individuals under 18 are not eligible to open an account or file an application for a LiteForex Card.
Requirements for documents, uploaded to the profile for ordering LiteForex card
- 1. Documents must be in English, in case of being in another language they must be translated and notarized.
- 2. All documents must contain only the name of the applicant.
- 3. Documents must be colorful, full-sized and of good quality.
- 4. For name confirmation the applicant should upload legal government-issued, identifying document with the picture of the customer on it. It may be a government-issued passport, driver's license (for countries where the driver's license is a primary identification document) or local ID card (no company access cards). This document should be valid at least 6 more month after applying for the card. The document must also contain the date expiry.
- 5. For address confirmation the applicant should upload a bill with the customer's own name and actual address on it no older than 3 months. It may be a utility bill, bank statement, affidavit, or other bill with the name and address of the customer from an internationally recognizable organization (mobile phone bills can’t be accepted).
- If the documents don’t meet the requirements at the time of making the order in the profile, the application for getting the card won’t be accepted by the issuer.
- The processing of application and the issue of LiteForex card can take up to 14 working days, this time may also be increased if the client doesn't provide the documents, that meet the requirements.
Please read carefully the Terms of Use of LiteForex Card.
LiteForex Card is issued by CSC24Seven.com Ltd (CSC), a financial company registered in Cyprus. The company’s activity is licensed.
- 1.Card transactions
- 1.1. CSC will debit any amount for any transaction from the Card.
- 1.2. Cardholder is responsible for payments made from his/her card, regardless of whether a voucher is signed or whether the funds are withdrawn.
- 1.3. Cardholder cannot withdraw funds which exceeds the amount of available fund balance.
- 1.4. Payment made with the help of the card is irreversible.
- 1.5. LiteForex is not liable if a third party refuses to accept payment, made from the card.
- 2. Reporting on Balance
- 2.1. Cardholder can request a report on the balance of the card through the Client’s Profile of LiteForex Group of Companies. The report will be forwarded to e-mail address of the cardholder.
- 2.2. If cardholder does not agree with any of the transactions he shall inform LiteForex Group of Companies within one month from the moment of a questioned transaction.
- 3.Fees and commissions
- 3.1. Issuer is liable to cancel some types of commissions (e g. payment for annual subscription).
- 4. Cardholder is liable
- 4.1. Cardholder agrees to take appropriate steps to keep secret the PIN code for the Card.
- 4.2. If the card is not delivered in the specified time Cardholder shall inform LiteForex Group of Companies. or the Issuer by e-mail to support@uwcfs.com or by telephone to +44 (0) 208 899 6970.
- 5. Repayment
- 5.1. Funds will be reimbursed to Cardholder in the event if the exact amount of transaction was not specified during authorization.
Withdrawals from LiteForex Card
You can withdraw funds from LiteForex Card through a cash machine/ATM. Commission for cash withdrawal through cash machine/ATM amounts to 2% (minimum $3.00, maximum $15.00) for each transaction. It means that if you withdraw $100.00 through a cash machine/ATM you will get $97.00 cash.
LiteForex Card can also be used for online payments, or for payments in shops or any retail shopping whenever MasterCard® is accepted for payment. Commission for payment in the retail shops amounts to $1.00 for each transaction.
Withdrawal of funds from trading account utilizing LiteForex Card
You can withdraw funds from your LiteForex Group of Companies trading account with the help of prepaid LiteForex Сard, using your Client's Profile.
The funds deposited in American dollars (USD), Euros (EUR), BRL, MXN, CLP, PEN or UYU via such payment systems as WebMoney, Perfect Money, LiqPay, OkPay, LibertyReserve, Bank Wire Transfer, Boleto Bancario, TBL or via Pago en Efectivo may be withdrawn to LiteForex Card® in American dollars (USD) according to the following conditions:
- the withdrawal total amount must not exceed $3000 pro month for one client;
- the period between a deposit via a payment system and a withdrawal to LiteForex Card must be at least 5 working days;
- the number of trading operations conducted in the period between a deposit via a payment system and a withdrawal to LiteForex Card must be at least 50.
Commission for transferring funds from your trading account to LiteForex Сard amounts to $3.00 regardless of the amount transferred. It must be understood that in this connection minimum amount of funds which can be transferred from the trading account to the card is $10.
Transaction Fees for LiteForex Card (Commissions)
- 1. Note: card is valid for 48 months from the date of issue.
| Transaction fees (US$) | |
|---|---|
| Depositing money to the card | $3.00 |
| Withdrawal through cash machine/ATM | 2% (min. $3.00; max. $15.00) |
| POS transactions | $0 |
| Non-financial transaction (Card balance request, unconfirmed transaction) | $0.40 |
| Exchange rates for a transaction in currency different from the Card currency | Current market rate |
- 2. If the Card is not used for 180 days, a monthly dormancy fee applies.
| Monthly dormancy fees (US$) | |
|---|---|
| 1st year | $10.00 |
| 2nd year | $17.50 |
- 3. Change of PIN code or card recovery: $15
- 4. Account closure: $15
- 5. Standard limits for the use of the dollar LiteForex Cards:
| Limits (US$) | |
|---|---|
| Minimum required balance | $10.00 |
| Maximum balance | $5,000.00 |
| Daily cash machine/ATM transactions |
$2,000.00 (up to three withdrawals) |
| Weekly cash machine/ATM transactions | $5,000.00 (up to 11 withdrawals) |
| Daily Point of Sale(POS) transactions | $3,000.00 (up to 8 transactions) |
| Weekly transactions | $12,000.00 (up to 40 transactions) |
*Daily limits are set every 24 hours weekly –each transaction is set to zero after 7 days of transaction.
- General information (order/activation)
- Card transactions (deposits/withdrawals)
- Transactions and fees
What is Payoneer Prepaid MasterCard®?
LiteForex offers you a new payment method. It's the fastest, most secure and flexible way of money management. The Payoneer Prepaid MasterCard® card will be attached to the Client's Profile in LiteForex group of companies which will let you easily make deposits and withdrawals from your trading account.
- Use your card anywhere in the world, where MasterCard cards are accepted (on the Internet as well).
- Get cash at ATMs* worldwide.
- Online access to your card account allows you to easily check your balance and transaction history.
The Payoneer Company distributes, manages and maintains prepaid MasterCard® cards. Payoneer cooperates with the Choice Bank Limited in issuing and processing the cards. Payoneer is a leader in offering prepaid solutions for online applications; the company headquarters are located in New York.
Who can get a prepaid Payoneer MasterCard® card?
Anyone over the age of 18, with or without bank account can apply for the Payoneer Prepaid MasterCard® provided by Payoneer. One physical person may have only one valid Payoneer Prepaid MasterCard.
The cardholder is the person whose name is imprinted on the card. This is the person to whom the card was issued and the named person is the only authorized user of the card.
How do I order the Payoneer Prepaid MasterCard® card?
For you to order the Payoneer Prepaid MasterCard®, your Client's Profile must be fully confirmed.* If so, you need to log in to your Client's Profile and click on the “Trading accounts” tab to order the card. Next, you need to choose the “Order Card” option from the lower widget “Debit card accounts”, and then to click on the “Order Payoneer Card” button. Enter the answer to your secret question, your mother’s maiden name and the date of your birth in the given form (you’ve provided all these data when registering your profile with LiteForex), then click on “Next”. In the opened window, you’ll see the menu which will introduce you to the FAQ and the card use fees.
After clicking on the “Get your prepaid MasterCard card now” button that you’ll find in the “Introduction” section, please fill in step by step the “Cardholder Personal Details”, “Card Account Information” and “Registration Verification” fields. Use the Latin symbols only. The data you’re providing must correspond completely to those provided when registering the Client's Profile with LiteForex group of companies. Please remember that your login (e-mail address) and the password you’ve thought up when ordering the card will be required for logging in to the Cabinet and managing the card account. So you’d better write down these details.
When you click on the “Finish” button, the card order process will be completed, and the request will be sent to the card issuer for confirmation.
How much time does it take up to issue a card?
The Payoneer Prepaid MasterCard® card will be issued within 2 working days after the order request is confirmed. You’ll be sent a confirmation notification by e-mail. As soon as your card is issued, it will be sent to you.
What are the period and cost of the Payoneer Prepaid MasterCard® delivery?
The Payoneer Prepaid MasterCard® card is sent to a client by regular post, the delivery period depends on the operation of postal services. Approximate delivery period is from 12 to 35 working days. The card is delivered for free.
How do I activate my Payoneer MasterCard®?
Once you receive your card in the mail, you can activate it as follows:
- Online at www.payoneer.com. Click on 'My Account'
- Enter the User ID and Password you’ve chosen when ordering your card, to log in
- Click on 'Activate your card'
- Select your 4 digit PIN number and submit
- You will receive an email confirmation for activation
The card activation fee is $15.95.
The card activation fee for Angola, Ecuador, Ethiopia, Pakistan, São Tome and Principe, Turkmenistan amounts to $24.95.
The card activation fee will be charged after you load your card for the first time.
Requirements for documents, uploaded to the profile for ordering the Payoneer MasterCard®card:
- 1. Documents must be in English; otherwise they must be translated and notarized.
- 2. All documents must contain only the applicant’s name.
- 3. Documents must be colorful, full-sized and of good quality.
- 4. For name confirmation the applicant must upload legal government-issued identification document with the picture of the customer on it. It may be a government-issued passport, driver's license (for countries where the driver's license is a primary identification document) or local ID card (no company access cards). This document must be valid at least for 6 more months after applying for the card. The document must also contain the date expiry.
- 5. For address confirmation the applicant can upload a bill with the customer's own name and actual address on it no older than 3 months. It may be a utility bill, bank statement, affidavit, or other bill with the name and address of the customer from an internationally recognizable organization (mobile phone bills can’t be accepted).
Please visit the site of the card’s issuer http://www.payoneer.com/ for more information.
How can I use the Payoneer Prepaid MasterCard® card?
The Payoneer Prepaid MasterCard® card works just like any other prepaid MasterCard® card. The card is accepted worldwide, wherever the Debit MasterCard® cards are accepted. You can use it for both POS and online purchases.
You can also use the Payoneer Prepaid MasterCard® card at ATMs worldwide to withdraw cash.
Monthly service fee is:
- $3.00 (from 0 to 4 transactions a month)
- $1.00 (more than 5 transactions a month)
Purchase payment fee at points of sales: none.
The fee charged by the card issuer for ATM cash withdrawals: $3.25 per transaction.
Attention please: some cash dispensers charge additional fees whose amounts are fixed by corresponding banks.
What is the maximum card balance?
The maximum balance of the Payoneer MasterCard® card is $10,000. A daily spending limit is set at $5,000. Daily ATM cash withdrawal limits are set to $2,500.
Notes:
Local ATM networks may impose lower withdrawal limits than the limits stated above.
The card must only be used after it’s been activated and loaded. Attempting to use it before it is activated and loaded carries the risk of losing it to the ATM.
Deposit in LiteForex’s trading account by use of the Payoneer Prepaid MasterCard® card
You can top up your trading account by use of the Payoneer Prepaid MasterCard® card. The minimum deposit amount constitutes $50. No fees will be charged when depositing via Payoneer. Also it should be mentioned that LiteForex doesn’t charge any deposit/withdrawal fees.
Withdrawal of funds from LiteForex’s trading account to the Payoneer Prepaid MasterCard® card
After depositing your trading account using Payoneer Prepaid MasterCard ® card in your LiteForex Clien’t Cabinet there is accessible a direct fund withdrawal (without intermediary payment system) from your trading account in LiteForex on this card.
Regardless of the withdrawal amount, the transaction fee is:
- $2.00 (loading within 2 working days)
- $4.00 (loading within 2 working hours)
Please take into consideration, that the minimum withdrawal amount is equal to 10$.
Please note that an affiliate commission cannot be withdrawn by use of the Payoneer Prepaid Master Card®.
Conditions of withdrawal to Payoneer Prepaid Master Card® when depositing via other payment systems
The funds deposited in American dollars (USD), Euros (EUR), BRL, MXN, CLP, PEN or UYU via such payment systems as WebMoney, Perfect Money, LiqPay, OkPay, LibertyReserve, Bank Wire Transfer may be withdrawn to Payoneer Prepaid Master Card® in American dollars (USD) according to the following conditions:
- the withdrawal total amount must not exceed $3000 pro month for one client;
- the period between a deposit via a payment system and a withdrawal to Payoneer Prepaid Master Card® must be at least 5 working days;
- the number of trading operations conducted in the period between a deposit via a payment system and a withdrawal to Payoneer Prepaid Master Card® must be at least 50.
When withdrawing funds from a trading account to Payoneer Prepaid Master Card®, an extra fee in the amount of 3.5% will be charged (if funds are deposited via another payment system - LiqPay, OkPay, LibertyReserve, Bank Wire Transfer).
If withdrawing funds to Payoneer Prepaid Master Card® for fraudulent purposes is suspected, LiteForex has the right to request further information on the client or revise the withdrawal conditions, and even to prohibit the client from using Payoneer Prepaid Master Card® for withdrawals of funds deposited via other payment systems (AML policy).
LiteForex has the right to change the conditions of withdrawal to Payoneer Prepaid Master Card® any time with a preliminary notification of clients.
How do payments to me become available on my Payoneer Prepaid MasterCard®?
Whenever payments are loaded to your Payoneer Prepaid MasterCard®, you will be notified by email and will be required to accept payment. These funds will be available to you within 2 to 4 business days of accepting payment. Please make sure that payouts@payoneer.com emails are not being directed to your bulk mail.
Can I use other ways to load my prepaid Payoneer MasterCard® card?
Yes, you can. The Payoneer Prepaid MasterCard® card can be loaded by means of other credit cards (Visa® or MasterCard®). To get more information, please check the official web-site of card’s emitter: www.payoneer.com
How do I check the balance of my Payoneer MasterCard® card?
You can check the balance as well as receive the card statement in LiteForex’s Cabinet at https://secure.liteforex.com/ o do it, click on the “Trading accounts” tab in the Client's Profile and then choose the “Payoneer Card Accounts” option from the lower widget “Debit card accounts”. You’ll be able to see your card current balance and statement.
You can also manage your card account by means of the personal profile on the home page of Payoneer’s site, through the “My account” option. To log in to this profile, please use the login and password indicated when applying for the card.
What happens to my Payoneer MasterCard® if I don't use it?
As soon as the card value is depleted to zero, no fees will apply.
What should I do if my card has been stolen or lost?
Please, immediately inform the card’s issuer about the theft or loss of the card. Payoneer’s support service operates 24 hours a day, 7 days a week: 1-646-224-6993.
How do I cancel the card?
You can cancel your card by sending a request to support@payoneer.com. Please specify the last 8 digits of your card and the cardholder’s name, as it appears on the card.
In which cases should I contact LiteForex’s support service for additional information?
You may contact LiteForex’s support service for any questions you have before the funds are transferred from the trading account to the card. Once the funds have been transferred to your card, all the questions connected with the card account or the card use must be sent to the Payoneer company - http://www.payoneer.com/contactUs.aspx.
More details are available on the issuer’s site at http://www.payoneer.com/.
| Service description | Fee(USD) | Annotation | Service Payment terms |
|---|---|---|---|
| Card activation |
$15.95 | Per card | One-time fee charged after you load the card for the first time. |
| Card activation for Angola, Ecuador, Ethiopia, Pakistan, São Tome and Principe, Turkmenistan | $24.95 | Per card | One-time fee charged after you load the card for the first time |
| Funds Deposit | $2.00 | Within 2 working days | Each time you load your card |
| Funds Deposit | $4.00 | High-speed deposit (within 2 working hours) | Each time you load your card |
| Monthly Service fee | $3.00 | The use frequency - up to 4 transactions per month | Deducted every month from the card balance |
| Monthly Service fee | $1.00 | The use frequency: from 5 transactions per month | Deducted every month from the card balance |
| Card reissue | $19.95 | Per card | One-time fee charged once a new card is reissued |
| ATM cash withdrawal fee | $3.25 | Cash dispensers can charge extra fees depending on the corresponding bank | Per transaction, each time you make a cash withdrawal request |
| ATM denial fee | $1.00 | Per transaction |
Each time a cash withdrawal is denied |
| Card balance check via ATMs |
$1.00 | Per transaction | Upon the completion |
| Purchase POS | free | Per transaction | When making a request to pay your purchases |
*When a Purchase Transaction or an ATM Withdrawal is requested outside the U.S., the fee up to 3% of the transaction amount can be deducted as per the market and current exchange rate.
The Payoneer Prepaid MasterCard is issued by Choice Bank Limited pursuant to the license by MasterCard International Incorporated. MasterCard is a registered trademark of MasterCard International Incorporated.
Please visit the issuer’s site for more details: http://www.payoneer.com/.