Virtual USD Card Usage Terms

Minimum Card Balance

• A fee of $0.30 will be charged if the card balance falls below $3.00 at the end of each month.
• A minimum $2.00 is the least accepted amount on an active card balance.

Card Issuance Fee

A one-time fee of $2.00 will be charged upon card issuance.

Card Funding Fee

• A fee of 2% will be charged on each card funding transaction capped at $100.00 for funding up to or above $5,000.00.
• A minimum funding fee of $0.20 is charged for the least card funding.
• A $100.00 maximum capped funding fee is charged for any card funding above $5,000.00.

Note: This fee is subject to change as card limits are exceeded and demanded for review upon card holder/users demands.

Card Withdrawal Fee

• A fee of $1.00 will be charged for each card withdrawal.
• A chargeback fee is charged any time a chargeback transaction occurs on a card. A fee of $40.00 is charged on all USD denominated cards, per chargeback call.

Refers to the fee taken per authorization of a transaction outside of the Dollar denominated currency by the user or cardholder.

• Authorization fee for successful cross border transaction for currencies like Euro, GBP, etc is charged at 2.2% of total amount spent + $0.50.
• Authorization fee for unsettled/failed cross border transactions for currencies like Euro, GBP, etc is charged at $0.32 per decline.
• Authorization fee for unsettled/failed Dollar transactions is charged at $0.05 decline.

Card Daily Spend Limit

The maximum amount you can spend with your card per day is $5,000.00. (There are exceptions of increasing limits by contacting our in-app support channels)

Card Minimum Withdrawal

A $5.00 minimum withdrawal amount is applicable on all authorised card withdrawals.

Card Monthly Spend Limit

The maximum amount you can spend with your card per month is $10,000.00. (There are exceptions of increasing limits by contacting our in-app support channels)

Card Security

• You are responsible for keeping your card details confidential and secure.
• Report any unauthorized transactions immediately.

• You can close/delete your card at any time by tapping on the delete card button or by contacting customer support.
• If your card payment authorization fails due to insufficient funds 3 times or within a 2 trial interval if you have never funded your card after the first preliminary funding period, your card will be automatically deleted.
• Example: If you create a card with $5, your card balance is $3 and $2 is taken for the card creation fee, we reserve the rights to your minimum balance being $2, so it means you can't initiate or authorize a transaction above $1 on the $3 balance on your card after card creation. It is advised you fund your card as you can't authorize a transaction below a $2 minimum balance.
• Please note, your $2 minimum balance will be transferred to your Palremit USD wallet in the case of card termination or refund.
• All outstanding fees/charges will be deducted from your account balance before deletion.

A card deletion fee of $1.00 applies on active card deletion, in which the remaining card balance is refunded to your Palremit USD wallet within 12 hours.

We have a range for currency spread fees from 0.5% - 1% depending on the market conditions and liquidity available.

These Terms of Use are governed by the applicable laws of the Federal Republic of Nigeria, the Federation of Kenya and Latvia.

• We reserve the right to amend these Terms of Use at any time.
• We will notify you of any changes via email, push notifications, our social media channels or through www.palremit.com

Palremit Inc. reserves the right to modify these Terms of Use without prior notice.