deVere Vault Terms and Conditions

Effective from December 1st, 2022.

General Provisions

deVere E-Money, UAB is authorised and regulated in Lithuania by the Bank of Lithuania (License number 9), company code 304469514, address of registration J. Balčikonio str. 9, Vilnius, Lithuania.
These Terms and Conditions are applicable for all deVere E-Money, UAB products provided to natural persons. Please read them carefully.

1. Key Definitions

In these terms and conditions, the following words and phrases have the meanings shown next to them:
  • “Business day” means a day between and including Monday to Friday, between 9am and 5pm (UK time) except for bank or public holidays in England and Wales;
  • “Card” means your physical or virtual Vault Prepaid Mastercard® Card. Virtual card is non-tangible;
  • “Card Issuer” means the Prepaid Mastercard Card is issued by Moorwand Limited pursuant to license by Mastercard International Inc.
  • “Card PIN” means personal identification number i.e. the security number provided for use with the card;
  • “Card scheme” means Mastercard;
  • “Card transaction” has the meaning set out in Vault Prepaid Card Terms and Conditions, Section 4.2.
  • Clients and card owners authorized to use our services are denoted by “you”, “your” or “clients”;
  • “Companion Account” refers to any additional, subsidiary account and (or) card you either have or wish to add to your Primary Vault account, which is issued for use by a spouse, child or close relative of your choosing;
  • “E-Money” means electronically stored value represented by a claim against deVere E-Money, UAB.
  • “E-Money Issuer” means that electronic e-money are issued by deVere E-Money, UAB who is authorised by the Bank of Lithuania (License Number 9) to conduct electronic money service activities;
  • “Fees” means a variety of charges that can be raised for purchase and ongoing use of the card;
  • “Load” means loading your Vault Account by any means available;
  • “Personal information” means any confidential and/or personally identifiable information or other information, including but not limited to the following: name, email address, date of birth, tax identification number, billing/shipping address, phone number and financial information.
  • “Privacy Policy” means our privacy policy which can be found on Vault website.
  • “Purse value” means the maximum value of funds that can be held with the card any one time;
  • “Summary Box” means the section that includes notification of charges, limits and restrictions associated with the card;
  • “Supplier” means a retailer, merchant or other supplier of goods and/ or services which accepts payment by means of a card, card number, PIN or card and signature;
  • “Supplier’s bank” is the merchant acquirer used by the supplier for the purposes of receiving payments arising from transactions;
  • References to deVere E-Money, UAB, Moorwand Limited, The Currency Cloud Limited or other partners acting on our behalf are denoted by “we”, “us” or “our”;
  • “Vault Account” means your relationship with us as described in these Terms.
  • “Vault Mobile Application” or “Vault App” means a mobile application for Vault account management, installed and used in mobile devices.
  • “Vault Prepaid Card” means a card with the features set out in this document;
  • “Verification of identity” means confirming personal identity and address (where applicable) of you by conducting electronic verification of your details or by you providing documentation of identity;
  • “Year” shall mean a 12-month period following the date when the card is issued to you and each subsequent 12-month period.

2. Altering these Terms and Conditions

  1. deVere E-Money, UAB may change any of these terms and conditions, including fees and charges, or introduce new terms. We will give 2 months prior written notice to you by email if such changes occur.
  2. If we change these terms and conditions, the new terms and conditions will be available at https://devere-vault.com/terms from the date the change takes place.
  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.
  4. If you notify us that you do not accept the change in the time between the receipt of the notice and the proposed date of change, this agreement will terminate immediately. In addition, subject to condition 8.1 “Redemption” of Vault Prepaid Mastercard Terms and Conditions, you can redeem your total balance at that time without charge.
  5. The information provided herein is applicable for all deVere E-Money, UAB products and services for natural persons

3. Ending this agreement

  1. We may terminate your agreement with deVere E-Money, UAB regarding both your Vault account and/or your Vault prepaid card at any time by giving 2 months prior written notice, unless there are exceptional circumstances, if:
    1. You are (or threaten to be) in material breach of any of these Terms or of any of your obligations under the agreement;
    2. You pass away or become of an unsound mind;
    3. It becomes (or it appears that it may become) unlawful for us to maintain or give effect to all or any of the obligations under these Terms or otherwise to carry on your business or if we or you are instructed or requested to rescind the agreement (or any part thereof) by any regulatory or law enforcement authority, whether or not that request is legally binding. In such event, we may be required to retain any sum which would otherwise be due to you and/or to pay over the same to such authority;
    4. We, at our discretion, consider it necessary to default, suspend or terminate the contract for our and/or your protection including but not limited to the following circumstances:
      1. Protection from fraud;
      2. Protection from your default;
      3. Protection from market failures;
      4. Our and/or your protection from adverse or volatile market conditions; and
      5. Our and/or your protection from suffering a loss;
      6. Your account is categorised as “dormant” (it was either never loaded with money or your last transaction happened more than 12 months ago).
  2. You can also terminate this agreement by contacting us via in-app support chat or by emailing [email protected]. Termination may result in a charge to redeem any remaining balance, please see the fees section for these charges.
  3. If you do not redeem your full balance within six (6) years of your card’s expiry date, this agreement will automatically be terminated.
  4. If you do not provide the requested information or documentation in three (3) months, or provided information is not sufficient, you are deemed to have failed to provide the requested information within given time frame, therefore this agreement will automatically be terminated.

4. General

  1. Clients must provide us with an email, postal address and phone number and let us know of any changes to these details.
  2. Under this agreement, we may transfer our rights or obligations, or arrange for any other person to carry out its rights or obligations. You may not transfer any of your rights or obligations under this agreement.
  3. We can delay enforcing its rights under this agreement without losing them.
  4. If we cannot enforce any sub clause, condition or part of a sub clause or condition under this agreement, this has no effect on other subclasses or conditions in this agreement.
  5. This agreement is governed by the laws of the Republic of Lithuania and the European Union. The language used for this agreement is English and all notices and information given under this agreement will be in English

5. How to contact us

  1. For any queries or concerns about these terms and conditions, please contact us via in-app support or by emailing us at [email protected]. We will try to resolve any issues you may have within 15 business days of receiving your concern. If exceptional circumstances arise, resolving your concern might take up to 35 business days. We will notify you if this is the case.
  2. If you would like to submit a formal complaint, please email [email protected] To view our formal procedure for complaint submittal, please click here. If your case remained unresolved, you have the right to appeal to the Bank of Lithuania as deVere E-Money, UAB is EMI established and licensed in Lithuania. The complaint to the Bank of Lithuania may be submitted by:
    1. Using the electronic dispute settlement facility E-Government Gateway;
    2. Completing a Consumer application form and sending it to the Supervision Service of the Bank of Lithuania, Žalgirio g. 90, LT-09303, Vilnius, Republic of Lithuania or by email at [email protected]
  3. For more information about the process of settling a dispute with a financial service provider by applying to the Bank of Lithuania, click
  4. You are able to submit your complaint to your local authority if your place of residence is within an EU country. This includes the United Kingdom Financial Ombudsman Service (Exchange Tower, London, E14 9SR, +44 20 7964 1000).

6. How we use your information

  1. We may search your record at anti-money laundering reference and fraud prevention agencies in order to ascertain your identity. This is done through an automated digital application system.
  2. If we are unable to verify your identity sufficiently, we may ask you to provide some documentary evidence to help confirm your identity and address.
  3. Inaccurate, unverifiable or false information may lead to a fraud inquiry which will be recorded by fraud prevention agencies. Once the aforementioned is applicable, law enforcement agencies may also access and use the information at their behest.
  4. The fraud prevention agencies will share records with other organisations. We and other organisations may access and use the information recorded by fraud prevention agencies overseas.
  5. Should you wish to pursue your legal right to anti-money laundering, reference and fraud prevention agencies, please contact us via the Vault application.
  6. Should you wish to know any personal information our servers hold about you, please contact us via the deVere Vault mobile application or e-mail us at [email protected]. You have the right to get a copy of the personal data undergoing processing. For any further copies requested by you or in case if we suppose that you are misusing your right to get the copy, we may charge a reasonable fee based on administrative costs.
  7. Some information held by anti-money laundering reference and fraud prevention agencies will be disclosed to us and other organisations in order to prevent fraud and money laundering, by checking employee records and verifying your identity.
  8. The information held by these agencies may also be used for other purposes for which you give your specific permission or, in very limited circumstances, when required by law or where permitted under the terms of the applicable legal acts which are regulating personal data protection.
  9. Entering into an agreement with deVere Vault and deVere foreign exchange and its constituents allows us to utilise the following types of information about you:
    1. Information available about your usage or configuration of your mobile device, including the presence of other applications, unique device-identifying information, and any identifying cellular network, IP, Wi-Fi or Bluetooth data;
    2. Information you give us, or information that we already hold about you, including any phone number you call us from;
    3. Information you give us explicit permission to access from your mobile device, including your address book, photos, geolocation, data from your cameras or microphones (You may choose not to give permission to share this data, but it may restrict the usage of certain features of the mobile application);
    4. Information from any social network or other online accounts that you choose to share with us;
    5. Information we receive when making a decision about your application or agreement, including information we receive from enquiries and searches made in your name with anti-money laundering reference and fraud prevention agencies;
    6. Information (including details of payments and transactions) we may hold about any managed account or policy which you hold with or through us, and;
    7. Information we receive from anyone who is allowed to provide us with information about you.
    8. We will process, use, manage, control, release and record information about you to:
      1. Search fraud prevention agencies’ records (including information from overseas) to manage your account;
      2. Manage your accounts and policies, and manage any application, agreement or correspondence you may have with us;
      3. Carry out, monitor, analyse and improve our business;
      4. Contact you by post, by phone or in another way about other products and services which we consider may interest you – unless you tell us that you prefer not to receive direct marketing;
      5. Fight fraud, money-laundering, terrorism and other crimes, and;
      6. Keep to any laws or regulations in any country.
  10. We may share information about you:
    1. To any person working for us or our co-brand partner;
    2. To fraud prevention agencies;
    3. To any organization which backs any of our products which you hold;
    4. To any payment system under which we issue your card/process your transactions;
    5. If a payment is processed through a worldwide payment system, to certain authorities in order to detect and prevent terrorism (including authorities outside the UK);
    6. Under Common Reporting Standard (CRS) we are obliged to provide third parties information about natural persons and legal entities that are potential taxpayers of CRS countries.
    7. To any person to whom we transfer any of our rights or obligations under any agreement we may have with you, and;
    8. To anyone you authorize us to give information about you to.
  11. Processing your information, as described above, may involve sending it to other countries outside of the EEA including the United States of America. In such circumstances, we are responsible for making sure that your information continues to be protected.
  12. Client information may be held for up to 10 years to fulfil any legal obligations undertaken by the company.
  13. For Swiss citizens and residents, please note that de-Vere E-Money, UAB is regulated by European Union laws and does not follow or apply any Swiss legal and data protection requirements.
  14. For contacting you in an emergency. This would primarily be if your account is compromised or suspected of fraudulent activity, in which case we may need to contact you urgently (provided we are not prohibited from doing so by law). Depending on which method of contact we think is best, we may call, email or send a text message.
  15. You can choose to allow a third party payment provider (“TTP”) to access information on your account or make payments on your behalf from your account, provided the TPP is authorized by the Bank of Lithuania, FCA or another European regulator, and you have given your explicit consent. If you are thinking of using a TPP, you should first check whether it is authorized.
  16. We can refuse or stop access to a TPP of we are concerned it isn’t authorized or if we believe it is 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. We will try to let you know beforehand, or where this is not possible, as soon as possible afterwards. We will restore the TPP’s access to the account once there is no longer a reason to deny access.
  17. Please see our Privacy Policy https://www.devere-vault.com/privacy-policy to get more information about how we process your personal data. Please note that we are entitled to amend our Privacy Policy at any time. As such, it is your responsibility to read our Privacy Policy before using our products and services.

Vault Prepaid Card Terms and Conditions

These Terms and Conditions govern the use of the Vault MasterCard Prepaid Card. Please read them carefully.

1. Your Vault Prepaid Card

  1. By making use of your card, you are demonstrating your agreement to these terms and conditions. You can use the Card at any location that displays the MasterCard acceptance mark.
  2. The card is promoted by deVere E-Money, UAB operating as “deVere Vault”. Moorwand Ltd. pursuant to license by Mastercard International Inc. is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (Register ref: 900709) for the issuing of electronic money and registered in England & Wales No. 8491211. Registered office Birchin Court 20 Birchin Lane London EC3V 9DU.

2. Using your Card(s)

  1. Only debit card loads transacted under your name are allowed on Vault.
  2. When funds are loaded onto your card, the payment should be made in the same currency as that of your bank account. When the currencies between your loading debit card and Vault account are different, an exchange rate that shows on your bank statement will appear. These rates may change and the rate that applies on other sources may not be the same rate that applies when you convert your funds or load your Vault card.
  3. The card is a prepaid card product which can be used to pay for goods and services at retailers that display the Mastercard acceptance mark.
  4. It is your responsibility to take care of any standard-issued Vault card, Companion card or otherwise, and any liability that may arise rests on you as a Vault client and card holder. It is also your responsibility to provide accurate data for any companion card you request.
  5. Companion cards can only be loaded via a Vault to Vault transfer from the primary card holder that requested the companion card.
  6. You can add up to three companion cards to your Vault Account.
  7. There are two types of companion cards available, an adult version and a youth version. Please be aware that there are some spending limitations for youth accounts. These restrictions include lower access to cash at ATM’s as well as a lower spending limit per day. Limits are defined below the table below.
  8. Youth companion cards also have restrictions on some merchant types. These include: online gaming, liquor shops and bars, airlines and some other age related restricted merchants.
  9. When you receive an ordered card, be it Companion or otherwise, you must use the Vault mobile application to activate the card.
  10. You must not make purchases that exceed the balance of funds available on the card. Each purchase made will reflect on your card balance. If any purchase takes you over your available funds or above the card limits (as detailed in the conditions of usage), the transaction will be declined.
  11. You can use the card to make purchases in-store, via the internet or over the phone. The card can be used to obtain cash through ATMs and for purchase with cash back.
  12. As a Vault client, you agree to refrain from using the card for:
    1. Transactions for cash (other than ATM withdrawal or purchase with cash back) including cash from a bank, money orders.
    2. Any illegal purposes.
    3. We may stop, suspend or restrict your card or PIN on reasonable grounds relating to:
      1. The security of your card, card number or PIN, and;
      2. The suspected unauthorized 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.
      3. 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 honor the card.
  13. We will not issue a Primary card under these terms and conditions to anyone under the age of 18 years old.  A Companion Card will require the recipient to be over 13 years of age for the Youth Card, and 18 years of age for the adult product.

3. Card Fees

The tables below summarize 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.
  1. Primary Card Fees and Limit Table.

    Dormant Account fee€0.50 (or currency equivalent). Fee is charged monthly if at least 90 days passed without any user-initiated transaction.

    Fee Category Euro GBP USD CHF
    Virtual Card issue fee 0
    Physical card fee €5.00
    Replacement Card fee Replacement Cards are charged at €5.00
    Card Spending Transaction fees 0
    ATM withdrawals will incur a 1% charge of the amount withdrawn in that currency. The following minimum fees will apply €2.00 £2.00 $2.00 SFr2.00
    Foreign exchange charges for transactions other than your card currency Up to 1.99%
    Monthly Management fee 0
    Load fee via a European issued Debit Card FREE
    Load fee via non-European issued Debit Card 3% of the value loaded
    Load fee via bank transfer Receiving bank transactions made via SEPA transfers or Faster Payments is free of charge with no additional or hidden fees. However, receiving SWIFT transfers in EUR or GBP will be charged €20/£20 respectively. Please note that sending bank transaction via SWIFT transfer may result in lower amount received than originally sent due to fees charged by correspondent banks.
    Note: Clients unable to use SEPA transfers in Euros are encouraged to load via debit card as opposed to bank transfers.
    Chargeback fee if chargeback is incorrect €30.00 £30.00 $30.00 SFr30.00
    Chargeback processing fee £10
    Service fees 0
    Balance enquiries via your APP 0
    Cancellation or redemption fee, up to £30. See section 8 below for details €30.00 £30.00 $30.00 SFr30.00
    Maximum single card payment €4,500.00 Equivalent in € Equivalent in € Equivalent in €
    Daily ATM withdrawal limit €1,300.00 Equivalent in € Equivalent in € Equivalent in €
    Monthly ATM withdrawal limit €20,000.00 Equivalent in € Equivalent in € Equivalent in €
    Annual ATM withdrawal limit €200,000.00 Equivalent in € Equivalent in € Equivalent in €
    Maximum ATM Withdrawal per transaction €600 per transaction or the equivalent in each of Vault card settlement currencies (GBP, USD, CHF)
  2. Adult Companion Card Limits and Fees

    Dormant Account fee€0.50 (or currency equivalent). Fee is charged monthly if at least 90 days passed without any user-initiated transaction

    Fee Category Euro GBP USD CHF
    Physical Card issue fee €5.00 fee payable by the Primary Cardholder requesting the card
    Replacement Card fee Replacement Cards are charged at €5.00
    Card Spending Transaction fees 0
    ATM withdrawals will incur a 1% charge of the amount withdrawn in that currency. The following minimum fees will apply €2.00 £2.00 $2.00 SFr2.00
    Foreign exchange charges for transactions other than your card currencies Up to 1.99%
    Monthly Management fee 0
    Load fee via Debit Card of the amount loaded Not available
    Load fee via bank transfer. Not available
    Note: Companion Cards can only be loaded via a Vault-to-Vault transfer from the primary card associated with this companion card.  No other load source is permitted on a companion card.
    Chargeback fee if chargeback is incorrect €30.00 £30.00 $30.00 SFr30.00
    Service fees 0
    Balance enquiries via your APP 0
    Cancellation or redemption fee, up to £30. See section 8 below for details €30.00 £30.00 $30.00 SFr30.00
    Maximum single card payment €4,500.00 Equivalent in € Equivalent in € Equivalent in €
    Daily ATM withdrawal limit €1,300.00 Equivalent in € Equivalent in € Equivalent in €
    Monthly ATM withdrawal limit €20,000.00 Equivalent in € Equivalent in € Equivalent in €
    Annual ATM withdrawal limit €200,000.00 Equivalent in € Equivalent in € Equivalent in €
    Maximum ATM Withdrawal per transaction €600 per transaction or the equivalent in each of Vault card settlement currencies (GBP, USD, CHF)
  3. Youth Companion Card fees and Limits

    Dormant Account fee€0.50 (or currency equivalent). Fee is charged monthly if at least 90 days passed without any user-initiated transaction

    Fee Category Euro GBP USD CHF
    Physical Card issue fee €5.00 fee payable by the Primary Cardholder requesting the card
    Replacement Card fee Replacement Cards are charged at €5.00
    Card Spending Transaction fees 0
    ATM withdrawals will incur a 1% charge of the amount withdrawn in that currency. The following minimum fees will apply €2.00 £2.00 $2.00 SFr2.00
    Foreign exchange charges for transactions other than your card currencies Up to 1.99%
    Monthly Management fee 0
    Load fee via Debit Card of the amount loaded Not available
    Load fee via bank transfer. Not available
    Note: Companion Cards can only be loaded via a Vault-to-Vault transfer from the primary card associated with this companion card. No other load source is permitted on a companion card.
    Chargeback fee if chargeback is incorrect €30.00 £30.00 $30.00 SFr30.00
    Service fees 0
    Balance enquiries via your APP 0
    Cancellation or redemption fee, up to £30. See section 8 below for details €30.00 £30.00 $30.00 SFr30.00
    Maximum single card payment €750.00 Equivalent in € Equivalent in € Equivalent in €
    Daily ATM withdrawal limit €200.00 Equivalent in € Equivalent in € Equivalent in €
    Monthly ATM withdrawal limit €6,000.00 Equivalent in € Equivalent in € Equivalent in €
    Annual ATM withdrawal limit €72,000.00 Equivalent in € Equivalent in € Equivalent in €
    Maximum ATM Withdrawal per transaction €200 per transaction or the equivalent in each of Vault card settlement currencies (GBP, USD, CHF)

4. Card Transactions

  1. You agree that any use of your card, card number or PIN constitutes your authorization and consent to a transaction.
  2. The following are Card Transactions:
    1. “ATM Withdrawal” – this means you using your Physical Vault Prepaid Card and Card PIN to obtain cash from an ATM with or without a monetary exchange taking place; and
    2. “Card Purchase” means you using your Vault Prepaid Card to purchase goods and/or services from a merchant by entering the details of your Vault Prepaid Card and/or your Card PIN.
  3. A transaction is registered the moment it is received by our team, and orders received after 6pm on a business day will be processed on the next business day. Receipts issued outside the specified timeframe will also be processed on the nearest business day.
  4. Transactions are one-way and non-refundable. Once a transaction is complete via the necessary channels, which includes pre-authorized client consent, then the payment flow is deemed irrevocable.
  5. We may refuse a transaction or suspend or terminate the right to load your card. We may do this if the relevant phone or computer link is busy. We may also do this if:
    1. a transaction might take you over your available funds on the card; or
    2. a transaction might take you over any of your card limits; or
    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
    4. we reasonably believe that there are needs to do so to comply with any law or as a matter of good practice
  6. Vault will not block any amount of funds on your account unless we receive a request with the desired amount to be blocked. If a given amount of funds are blocked by a business such as a hotel or otherwise that processes pre-authorization, then Vault will require that said business provides an exact amount to our system. If a pre-authorization value is blocked on your account, Vault will release the blocked funds without undue delay and immediately after the receipt of the relevant payment is on our systems.

5. Foreign Currency Transactions

  1. The card can be used for transactions in currencies that are not among the list of currencies supported by Vault.
  2. Transactions made in currencies that are not supported by Vault will automatically be converted into the default card currency (which is Euro) at the current scheme rate or at any rate that a government body may have in place at the time of the transaction.
  3. Exchange rates may change, and the exchange rate that 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 and deduct it from your balance. Your deVere Vault mobile application will show the exchange rate.

6. Checking your balance and reviewing transactions

  1. To check the available balance on your card, navigate to the ‘Transactions’ tab on Vault. Primary cardholders are also able to view balances and transactions for any of their subsidiary Companion Cards.
  2. Using the login credentials, provided by you during registration, you can access your transaction data via the Vault mobile application or via download in multiple formats.

7. Expiry of your Card

  1. The card expiry date may be found on your card. Cardholders will not be able to spend on their card once the expiry date is exceeded, and should seek to renew their card beforehand. 5EUR card replacement fee will be applied.
  2. Cardholders can renew their card at any given time via the app. If you request a replacement card, it will be delivered to you within 1 month, depending on your residential country. Card delivery within EEA countries usually take less time, therefore, the card might reach you within 2 weeks.
  3. Clients will receive an email reminder regarding the expiry of their card in the period of one-two months before card’s expiry date.
  4. If you believe that card replacement fee should not be applied or if you wish to change the delivery address, please contact us via in-app support or email at [email protected]

8. Redemption

  1. You can redeem your account balance by contacting us via in-application support, or through email until 6 years after the expiry date shown on your card.
  2. You will be charged a redemption fee of up to £30 or currency equivalent if you request that we close your account. This fee is necessary to cover the bank transfer costs of returning the balance of your funds, as applied by our underlying banking partners depending upon the beneficiary country.

9. Liability

  1. You must always make sure that you:
    • Sign your card as soon as you receive it and keep it safe;
    • Do not reveal your PIN and never write down your password(s) or any security information you have given us;
    • Only release the card, card number or PIN to make (or try to make) a transaction, and
  2. If your card or PIN is lost or stolen or if you are reasonably sure your card, card number or PIN may be misused, you must, without undue delay, “Freeze” your Vault card within the deVere Vault application.
    1. Without undue delay, pause the card within your deVere Vault mobile application.
    2. Stop using the card, card number or PIN immediately. If you find the card after you have temporarily paused it, you can re-enable it via the app and continue using it. If you find the card after you have reported it permanently lost, stolen or misused, please cut it up and dispose of it.
  3. If your card is lost or stolen, you can order a replacement via the deVere Vault mobile application. We will charge a fee for replacement cards, although we may choose to waive the fee for the first replacement.
  4. You may not be liable for any use of the card, card number, PIN or mobile application by another person who does not have your permission to use it or if it is lost, stolen or destroyed, unless:
    • You agreed to that person having your card, card number, PIN or mobile application credentials, or through gross negligence or carelessness, failed to comply with condition 9.1, in which case you may be liable for any use that occurs before you tell us in accordance with these terms and conditions, or
    • You acted fraudulently then, to the extent permitted by law, you may be liable for misuse of the card, card number, PIN or mobile application.
    • You may only be liable to a maximum of £35 (or its equivalent in other currencies) resulting from transactions arising from the use of a lost or stolen card or from the misappropriation of the payment instrument where the cardholder has failed to keep security features of the card safe. The £35 (or its equivalent in other currencies) liability limit is applicable to each instance of loss, theft or misappropriation and not each transaction.
  5. f your card is used without your permission, or is lost, 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.
  6. We will not be liable for:
    • Any abnormal or unforeseeable circumstances that prevent us from providing our usual service outside our reasonable control (for example, computer systems malfunction that may occur, causing downtime which, however unlikely, cannot be accounted for).
    • Any person refusing to accept or honor (or delays in accepting or honoring) your card, card number or PIN, or
    • 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.
    • In case of errors or disputes about transactions, please contact us using the deVere Vault mobile application.
  7. If fraudulent or irregular activity is found to have originated from your account, you will be liable for a maximum of €40 (or its equivalent in other currencies) for each irregular transaction that occurred until Vault was informed of the stolen or lost card. You will not be liable for irregular transactions that occur after you alert the Vault staff. Any pending refunds resulting from unauthorized transactions will be sent to your account by no later than then end of the next business day.

10. Altering these Terms and Conditions

  1. We may change any of these terms and conditions, including fees and charges, or introduce new terms. If we make any changes, we will give 2 month’s prior written notice to you by email.
  2. If we change these terms and conditions, the new terms and conditions will be available at deVere-vault.com/terms from the date the change takes place.
  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.
  4. Between receipt of the notice and the proposed date of change, if you notify us that you do not accept the change, this agreement will terminate immediately and subject to condition 9.1 you can redeem your total balance at that time without charge.

11. Cancellation rights

  1. If you change your mind about having the card, you can cancel it within the first 14 calendar days following your request. We will refund any balance remaining on the card to you except for the physical card fee.
  2. We will reimburse you in the same currency as that of your pre-paid card.

12. General

  1. The terms under which this card is issued is governed by the laws of England, and Wales. The language used for these terms is English and all notices and information given under this section of the agreement will be in English.

13. Payment services information

  1. This condition 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.
  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 Timescale
    Transaction carried out in a currency other than Euro (€), US Dollar ($), Swiss Franc (CHF) or Pounds Sterling (£) Or Transaction involving more than one currency By the end of the fourth (4th) 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
  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 inform Vault within eight weeks from the date the transaction is deducted from your balance. 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 four weeks before the transaction is due to be deducted from your balance, and you consented to the transaction.
  4. On receipt of such a request under condition 13.3, we may require you to provide us with the information to ascertain whether the conditions in condition 13.3 have been met. Within ten (10) business days of receiving a request from you under condition 13.3 or of receiving any additional information required under this paragraph, we will provide a refund or justify why we are refusing the request.
  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.
  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.
  7. If it is found that incorrect transactions were issued from our end, the error will be rectified at the closest available time. Transactions deducted from your balance without authorization will be reimbursed and then considered null and void. You must inform us of an unauthorized 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.
  8. deVere E-Money, UAB supports the return of funds that have been accidentally transferred to your Vault account. However, if you think a transfer to your account from an EEA payment service provider was not made in error, we may share your contact details with the service provider so that you can be contacted directly. Vault is expected to cooperate with other payment service providers and share all relevant information in order to assist in tracing money which has been sent to the wrong account.
  9. deVere E-Money, UAB is not liable if clients incorrectly identify the supplier under a transaction. In such cases, deVere Vault will make reasonable efforts to recover the funds involved.

14. Mastercard SecureCode Terms of Service

  1. Using Mastercard SecureCode
    • When you use the Mastercard SecureCode service, these terms of service will apply.
    • You will not acquire any ownership rights, title or interest in or to the software made available to you in order to use the service.
    • deVere E-Money, UAB reserves the right at any time and from time to time to modify or discontinue, temporarily or permanently, MasterCard SecureCode (or any part thereof) with or without notice.
    • If you do not understand these terms of service, please contact our customer support before using the service.
  2. What is Mastercard SecureCode?
    1. Mastercard SecureCode provides you with a free way of increasing security for online Transactions by providing cardholders with additional security and peace of mind when shopping online.
    2. Mastercard SecureCode applies to all Vault cards, which have been enrolled with Mastercard for SecureCode prior to using these cards online
  3. How does it work?
    1. When you use your Vault card to make an online purchase with a Merchant who uses the service, and authentication is required, a Mastercard SecureCode screen will appear. Then Mastercard SecureCode screen will appear, asking you to enter the one-time passcode we sent you by SMS Message, which will be used to verify your identity, in order for your purchase to be processed. When you enter your one-time passcode, you are accepting our Mastercard SecureCode Terms of Service.
    2. The passcode will only be valid for the Transaction you have received it for.
    3. If you cannot provide the one-time passcode, or the authentication through the service fails, the Merchant may not allow you to proceed with the Transaction.
    4. If you choose not to follow the guidance on screen when prompted, you will not be able to proceed with the Transaction.
  4. What do I need to do to use Mastercard SecureCode?
    • It is important to ensure that your personal information held by us is up-to-date (particularly your mobile phone number) so we can verify your identity.
    • You must not let anyone know or use your one-time passcode.
    • You must ensure that your mobile phone is able to receive an SMS Message, and you are responsible for any fee imposed by the mobile phone service provider.
    • In order to use the service, you must have the ability to access the internet, and you must pay for any fees associated with such access.
  5. What if I don’t have a mobile phone?
    • If you don’t have a mobile phone or you have not provided us with your mobile phone number, the service will not be able to send you a passcode through SMS Message.
  6. What do I do if I’m buying something online and no Mastercard SecureCode screen appears?
    1. The Mastercard SecureCode screen will not always appear. This may be because, for example, you are making a purchase from an online Merchant who doesn’t use the service, or we have decided that your Transaction is high risk, in which case your Transaction request may be automatically denied.
    2. If the Mastercard SecureCode screen does not appear, just proceed with the normal check out process.
  7. Privacy Policy
    1. We will collect certain personal information from you for verification and security purposes, which will be used by the Mastercard SecureCode service in order to identify you and your Transactions.
    2. Your one-time passcode or personal information will not be shared with online Merchants.
    3. MasterCard SecureCode also may be used for record-keeping and reporting purposes, as well as to help resolve any transaction disputes.
    4. For further information as to how we use your data, please see our current Privacy Policy available at https://devere-vault.com/privacy-policy
  8. Liability
    1. We will not be liable to you for any loss resulting from your use of the service.
    2. We are not liable to you or any third party for any modification, suspension or discontinuance of the service.
    3. Due to the nature of the service, we are not responsible for any loss or damage to your software, computer, telecommunications or other equipment caused by using this service.
  9. Cardholder Security
    1. You are solely responsible for maintaining the confidentiality of your one-time passcode, mobile phone number and other verification information established by you with MasterCard SecureCode, and all activities that occur using your one-time passcode, or other verification information supplied to or established by you with MasterCard SecureCode. You agree not to transfer or sell your use of, or access to, MasterCard SecureCode to any third party. You agree to immediately notify us by contacting deVere E-Money, UAB Customer Service as we require in our cardholder agreement with you for a lost or stolen card of any unauthorized use of your one-time passcode or other verification information, or any other breach of security. You acknowledge and agree that, except as otherwise provided by Applicable Law or in our cardholder agreement with you, deVere E-Money, UAB shall not be liable for any loss or damage arising from your failure to comply with this terms of service.
  10. Your dealings with Merchants
    1. Your correspondence or dealings with online Merchants on or through the service, are solely between you and the Merchant, and we will not be responsible for any loss or damage incurred as a result of such dealings. The Merchant’s participation in the service does not indicate that we recommend or endorse any Merchant. For example, the service does not verify the identity of the Merchant or the quality of their goods or services.
  11. Ending the service
    1. We may temporarily or permanently deactivate your ability to use the service, and/or end your use of the service. We will normally give you 2 months’ notice, unless permitted by law to give shorter notice. In exceptional circumstances, we will not give you notice (for example, if we reasonably suspect fraudulent or unauthorized use of your Account).
    2. For your protection, we may automatically deactivate your ability to use the service if it is not used at least once during any 12-month period.

Vault Account Terms and Conditions

1. Personal Vault Account

  1. Your Vault account is an e-money account which allows you to make and receive electronic payments for your personal needs.
  2. Your Vault account is not a bank account.
  3. The Vault account is an e-money product, and as such it is not covered by the Financial Services Compensation Scheme. All e-money loaded into your account is stored in a bank in a client trust account that deVere E-Money, UAB cannot use for anything other than its intended purpose. In the unlikely event that the underlying bank becomes insolvent, funds loaded into client accounts may become valueless and unusable, and thus you may lose their money.
  4. You must be 18 years or older and pass the verification of identity to open a Vault account and use our services. You can open only one Vault account.
  5. You may close your Vault Account by contacting us via in-app support or email at [email protected].

2. Verification of Identity

  1. As a Vault user, you agree to cooperate with deVere Vault so as to ascertain your identity and confirm your address. Under EU law we are obliged to collect identification and basic KYC data on our clients.
  2. Clients must provide their identification information – Proof of Identity, Proof of Address (if applicable) and selfie via live transmission on Vault app.
  3. Also, deVere E-Money, UAB must understand the purpose of business relationship with the Client, therefore, during the registration, Client must indicate the following information, which counts towards their overall risk rate:
    • Account purpose (Salary deposit, Bill payments, Policy payments, Online purchases, Daily expenses, Savings transfer, Travel expenses, Investments, Family support)
    • Expected vault usage (Cash withdrawals, Card purchases, Bank transfers, Using other deVere products & services)
    • Source of Funds (Savings, Salary, Investment proceeds, Pension, Loan, Property sale, Inheritance, Dividends, Funds from Family, Other)
    • Annual loading volume (Less than €3,000; €3,000 – €15,000; Over €15,000)
    • Main payment countries
    • Employment status (Retired; Employed; Self Employed; Student; Unemployed)
    • Employer name (only in case the Client is employed)
  4. We may also ask for additional data to validate your transactions, planned spending activities and your source of funds. The additional data may include the original documents or their copies as well as copies approved by notary depending on the requirements by applicable law.
  5. Clients must be aware that we may reject requests to open a Vault account, if any of the terms and conditions are not met by the client. deVere Vault may also suspend or limit client accounts if cooperation is deemed insufficient to the extent that the client’s spending information, source of funds or identity cannot be verified.
  6. deVere Vault is not liable for any losses arising out of failure to verify your identity or funding source.
  7. Clients must keep an accurate description of their personal information to avoid suspension or termination.
  8. It is the responsibility of Vault users to ascertain that their first load is conducted by a debit card or bank account issued under their personal name.

3. Loading Vault Account

  1. You may load your Vault Account by debit card or a bank transfer.
  2. The time that it takes for your balance to be updated after loading your card depends on the method used and the associated time required for funds to be sent to the e-money issuer.
  3. If loading by debit card and the e-money issuer receives the funds on a business day, your account will be updated with funds on the same business day.
  4. If loading by debit card and the e-money issuer receives the funds on a day outside business hours, your balance will be updated on the closest business day.
  5. If loading by a bank transfer, transfer times may be checked from that financial service provider.

4. Issuance and Redemption of E-Money

  1. E-money is issued after you load your Vault account by any method described in point 3.
  2. The value of e-money is nominal – it is the same as the value of loaded funds and currency, if there are no fees associated to Vault account loading method.
  3. E-money can be redeemed at their nominal value at any time except when limitations are set on Your Vault account. More information on limitations is available in point 2, “Verification of Identity”.
  4. Redemption of e-money is initiated by transferring e-money out of your Vault account to any other account specified by you or withdrawing e-money from Vault account by other means supported by us, e.g. card spend. Please note that deVere E-Money, UAB cannot transfer money out to countries specified in points 11.16 and specific beneficiaries listed in point 11.17.
  5. No specific conditions or additional fees apply to the redemption of e-money, however, you will be charged a redemption fee of up to £30 or currency equivalent if you request that we close your account. This fee is necessary to cover the bank transfer costs of returning the balance of your funds, as applied by our underlying banking partners depending upon the beneficiary country.

5. Fee Information Document

Fee information document informs you about the fees for using the main services linked to the Vault account. It will help you to compare our fees with those of other payment services providers.

Service Fee
General account services
Account Opening Fee €0
Monthly Account Management Fee €0
Dormant Account fee €0.50 (or currency equivalent). Fee is charged monthly if at least 90 days passed without any user-initiated transaction
Account Closure Fee 1 up to €30 (or currency equivalent)
Sending Money 2
Local Credit transfer fee 0.1% of the amount sent or the minimum equal to bank transfer fee (from £3.00 to £7.00, based on currency)
SWIFT Credit transfer fee 0.1% of the amount sent or the minimum equal to bank transfer fee (from £8 to £28.00, based on country tier and method)
Receiving Money
Bank transfer load fee via SEPA or Faster Payments. €0/£0
Bank transfer load fee via SWIFT €20/£20
Cards and Cash 3
Virtual card fee €0
Physical card fee €5
ATM withdrawal fee 1% of the amount withdrawn or the minimum of €2.00 (or currency equivalent).
1 – This fee is necessary to cover the bank transfer costs of returning the balance of your funds, as applied by our underlying banking partners depending upon the beneficiary country. However, if you transfer the funds out of the account before you request to close it, you will not be charged any additional fee. 2 – Full information is available in Vault Account Terms and Conditions, Section 11. 3 – Full information is available in Vault Prepaid Mastercard Terms and Conditions, Section 2 Point 3
Information on additional services Information on fees for services exceeding the quantity of services covered by the package of services (excluding fees listed above)
Service Fee
SWIFT payment trace and recall £10
Chargeback Processing Fee £10
Loading Account Using Card
Card issued by Bank in SEPA region €0
Card issued by Bank outside SEPA region 3% of the amount loaded

6. Wallet Limits

  1. Wallet Limits associated with your Vault account

     

    Wallet/Purse limitsEURGBPUSDCHF
    Maximum wallet balance at any time200,000170,000210,000210,000
    Maximum daily wallet load99,99985,000100,000100,000
    Maximum monthly wallet load200,000170,000210,000210,000
    Maximum annual wallet load999,999850,0001,000,0001,000,000
  2. The table below sets out the methods by which you can Load your Vault
    account when you first open it and how you can load it up subsequently:

     

    When you payMethodMaximum Single Load Limits
    ReloadingBank transfer or debit cardVia Debit card – €10,000 Via Bank Transfer – €99,999 Up to permitted
    wallet purse value

7. Your Vault Account Statements

As a Vault account holder, your account statements are available to view and download within your Vault App. Users can view, download and send Vault statements through any messaging service or Email of their choosing.

8. Negative Balances

  1. You acknowledge that wallet balances and available funds reported on Vault are estimated real-time balances rather than settled balances in your Vault Account. A real time balance may not take into account pending debit and credit transactions. Vault will provide information on pending debits and credits as soon as the info is available.
  2. If for any reason (including, but not limited to, any technical errors on our behalf or on our third-party providers) you have a negative balance in your Vault Account, you agree to immediately load the required amount to correct that negative balance. Upon failure to do so, we may:
    • Exercise our right to set-off the amount you owe us by using funds you hold in that currency or in a different currency wallet; or by deducting amounts you owe us from money you receive into your Vault Account; or money you attempt to withdraw or send from your Vault Account; or in a different Vault Account under your control, and by deducting funds from any attempted withdrawals;
    • Initiate a chargeback procedure for any specific transaction which led to your Vault Account having a negative balance;
    • Take debt collection measures, including but not limited to, mandating a debt collection agency or solicitors or to pursue the claim in court. We reserve the right to charge expenses we reasonably incur in connection with any debt collection or enforcement efforts;
    • Request that you complete a fund load in order to correct a negative balance. If you fail to do so within 7 Business Days, you authorise us to initiate a payment transaction for the amount of the negative balance (or the equivalent in another currency) from one of your stored cards.

9. Converting Currencies within your Vault Wallets

  1. You are able to move currencies already loaded into your wallets by visiting Vault app.
  2. The conversion rates are based on live market rates from the UK Foreign Exchange Market when the market is open.
  3. Conversions made when the market is closed, for example weekends or UK Bank Holidays may result in an additional percentage being added to the last “live rate” received before the market closed. For the best possible rates, it is advisable to try and convert during live trading hours.

10. Vault to Vault Transfers

  1. Clients can instantly transfer e-money to other Vault users. To do this, users must add their beneficiaries through the Vault application. Adding beneficiaries requires Vault users to enter the registered email address of the prospective Vault beneficiary that owns a unique 9-digit code on their Vault card.
  2. Added beneficiaries remain on the client’s contact list indefinitely unless the client manually deletes them. To affect the transfer, clients must select the beneficiary and enter the currency-specific value to be transferred, and press submit. Upon process completing, the money is transferred to the chosen beneficiary.
  3. Recipients will receive a message in the Vault application and an email advising them that they have received a transfer which will include the value you have sent.
  4. Please note that the above feature is only available for Vault account holders that have already directly funded their account at least once. Before sending money, clients are urged to check that their prospective beneficiaries have loaded their account themselves in the past so as to avoid any delays or compliance issues on the receiver’s end.
  5. Sending funds using Vault to Vault does not incur a fee for any party in the transaction. However, clients may incur a conversion fee if the currency needs to be converted before making the transfer.
  6. Please also note that transactions cannot be recalled or cancelled once sent. Clients are urged to ensure that both the recipient and prospective funds are correct before committing to the transfer.

11. Transfer Out Functionality

  1. deVere Vault Clients are able to send funds directly from their Vault account to bank accounts around the world. The required details for effective transfer may differ depending on the country of the recipient’s bank account.
  2. When adding a beneficiary in the Vault application, clients will receive a prompt requesting specific beneficiary details which differ according to country said beneficiary lives in.
  3. Vault has partnered with UK global payments firm The Currency Cloud to perform these transfers on behalf of all client-side transfers, detailing sender information to beneficiaries upon arrival.
  4. Vault users should note that some countries have two options for the transfers, one being a local payment – where Vault accesses the local banking network in the specified country to facilitate the transfer, and the other being a “Priority Payment”, which utilizes the Swift Network.
  5. Transfer charges differ depending on the destination of the transfer and the transaction type. Clients are urged to check that all their details are in order before committing to the transaction.
  6. Please note that some “Local Payment” methods may be quicker than a Swift payment, especially for the UK, SEPA and USA payments. That said, user discretion is advised when choosing which platform to use when transferring money.
  7. Time Frames:

    Local Payment Priority Payment (SWIFT)
    1-3 working days 2-5 working days
  8. Clients should note that different policies and time frames may apply to banking systems that do not operate in conjunction with deVere Vault.
  9. Clients may utilize a limited 10-minute leeway period to cancel any payments, after which transfers are deemed verified and therefore irreversible. Again, clients are urged to establish the correct details before committing to a transfer.
  10. Should a transfer fail for any reason, clients will have their transaction value remunerated into their associated Vault wallet upon recovery of said funds by deVere Vault.
  11. Vault users should be aware that transaction instructions can be made on weekends and public holidays. However, transfers will not be affected until the next working day.
  12. Clients that are transferring money using a different currency than that of the recipient will have their funds converted into said recipient’s currency before the transfer is affected. This will include any associated charge, so user discretion is advised when loading funds onto Vault application.
  13. We are not permitted to allow you to pay the receiving parties fees when sending a transfer within the EEA, by using the “Local Payment” method you are only paying the fees associated to you. The recipient may receive a charge from their bank but this is unlikely using this method.
  14. If, as a Vault user, you enter incorrect details for a payment or inform us about an incorrect payment after more than 13 months from the moment of the transaction, we will not give you a refund but we will attempt to trace the transaction for you. We may charge you a reasonable fee to cover our service costs in doing this.
  15. Fee Details:Local payments

    Currency Code Fee
    Australian Dollar AUD £4.00
    Canadian Dollar CAD £4.00
    Czech Koruna CZK £4.00
    Danish Krone DKK £3.00
    Euro EUR £3.00
    British Pound GBP £3.00
    Hong Kong Dollar HKD £7.00
    Hungarian Forint HUF £4.00
    Norwegian Krone NOK £3.00
    Polish Zloty PLN £3.00
    Swedish Krona SEK £3.00
    Singapore Dollar SGD £4.00
    United States Dollar USD £3.00
  1. deVere Vault Clients are able to send funds directly from their Vault account to bank accounts around the world. The required details for effective transfer may differ depending on the country of the recipient’s bank account.
  2. When adding a beneficiary in the Vault application, clients will receive a prompt requesting specific beneficiary details which differ according to country said beneficiary lives in.
  3. Vault has partnered with UK global payments firm The Currency Cloud to perform these transfers on behalf of all client-side transfers, detailing sender information to beneficiaries upon arrival.
  4. Vault users should note that some countries have two options for the transfers, one being a local payment – where Vault accesses the local banking network in the specified country to facilitate the transfer, and the other being a “Priority Payment”, which utilizes the Swift Network.
  5. Transfer charges differ depending on the destination of the transfer and the transaction type. Clients are urged to check that all their details are in order before committing to the transaction.
  6. Please note that some “Local Payment” methods may be quicker than a Swift payment, especially for the UK, SEPA and USA payments. That said, user discretion is advised when choosing which platform to use when transferring money.
  7. Time Frames:

    Local Payment Priority Payment (SWIFT)
    1-3 working days 2-5 working days
  8. Clients should note that different policies and time frames may apply to banking systems that do not operate in conjunction with deVere Vault.
  9. Clients may utilize a limited 10-minute leeway period to cancel any payments, after which transfers are deemed verified and therefore irreversible. Again, clients are urged to establish the correct details before committing to a transfer.
  10. Should a transfer fail for any reason, clients will have their transaction value remunerated into their associated Vault wallet upon recovery of said funds by deVere Vault.
  11. Vault users should be aware that transaction instructions can be made on weekends and public holidays. However, transfers will not be affected until the next working day.
  12. Clients that are transferring money using a different currency than that of the recipient will have their funds converted into said recipient’s currency before the transfer is affected. This will include any associated charge, so user discretion is advised when loading funds onto Vault application.
  13. We are not permitted to allow you to pay the receiving parties fees when sending a transfer within the EEA, by using the “Local Payment” method you are only paying the fees associated to you. The recipient may receive a charge from their bank but this is unlikely using this method.
  14. If, as a Vault user, you enter incorrect details for a payment or inform us about an incorrect payment after more than 13 months from the moment of the transaction, we will not give you a refund but we will attempt to trace the transaction for you. We may charge you a reasonable fee to cover our service costs in doing this.
  15. Fee Details:Local payments

    Currency Code Fee
    Australian Dollar AUD £4.00
    Canadian Dollar CAD £4.00
    Czech Koruna CZK £4.00
    Danish Krone DKK £3.00
    Euro EUR £3.00
    British Pound GBP £3.00
    Hong Kong Dollar HKD £7.00
    Hungarian Forint HUF £4.00
    Norwegian Krone NOK £3.00
    Polish Zloty PLN £3.00
    Swedish Krona SEK £3.00
    Singapore Dollar SGD £4.00
    United States Dollar USD £3.00
  • International SWIFT payments Our underlying banking partner applies a new payment method for SWIFT payments in order to follow Payments Services Directive 2 (PSD2), that aims to create transparency, greater competition and better security in correspondent banking across Europe.
    Payment Method Table
    Beneficiary bank account in country Pricing
    SHA method OUR method
    Sepa 8 GBP* Not available
    Non-Sepa 8 GBP* Beneficiary country tier-based pricing: Tier 1 – 14 GBP Tier 2 -17 GBP Tier 3 – 28 GBP
    *Or equivalent in any other currency

    All SWIFT payments created in any currency to the beneficiary based in SEPA country will be sent using charge type Shared (SHA). When initiating SHA payments, Vault users will be charged 7 GBP. Please note that this type of payment may incur additional correspondent banking fees on the beneficiary side.Please note that while every measure is taken to ensure transparency for any client-charges, deVere Vault cannot guarantee that the recipient bank will not issue any additional charge(s) on its end. Clients should be aware that this is particularly relevant when sending a national currency such as USD to countries other than the USA. In such cases, funds are routed through the US which can incur client-side charges that are out of deVere Vault’s reasonable control. While we take every measure to mitigate such charges, and where we can, absorb them, additional bank charges may still be incurred for these types of transactions. Funds sent in currencies different from the domestic currency of the recipient (e.g. GBP to a Dubai AED account) is not directly controlled by Vault, but by the local bank receiving the funds

    You can look up the tier of your payment destination country here and list of SEPA countries here.

  • Volume based bank transfer fee

    Outgoing transactions
    Volume based fee on outgoing bank transfers Usual bank transfer fee or 0.1% of transaction amount (whichever is higher)
    1. In accordance with anti-money laundering and sanction screening requirements, we are currently unable to support transfers to the following countries*:
      • Afghanistan
      • Belarus
      • Crimea
      • Cuba
      • Democratic People’s Republic of Korea
      • Donetsk People’s Republic (contested region of Ukraine)
      • Iran
      • Iraq
      • Libya
      • Luhansk People’s Republic (contested region of Ukraine)
      • North Korea
      • Russia
      • Somalia
      • South Sudan
      • Sudan
      • Syria
      • Venezuela

      * Please note the above countries are subject to change.

    2. Prohibited industries:
      Currently, deVere Vault is unable to support bank transfers to some specific beneficiaries. This is due to deVere Vault agreements with intermediary banking transaction parties as well as compliance rules enforced by authorities on such transactions. These beneficiaries are primarily those linked or associated with the following activities:

      1. Activities aimed at circumventing security controls (software, hardware)
      2. Adult services connected to human trafficking or child abuse; intermediation of prostitution; production, visual broadcasting of pornography or striptease clubs (the approach does not include literature, toys, DVD’s, educational or scientific material or dating sites)
      3. Arms / dual use goods/ human organs/ammunition/explosives/defence/military
      4. Auction organization and execution
      5. Binary options
      6. Carbon Credits
      7. Companies formed of Bearer Shares
      8. Counterfeit goods and violation of intellectual property, items that violates someone’s privacy
      9. Dealers in Precious Metals and Stones, Art
      10. Debt restructuring, credit repair, debt settlement, providing credit, debt collections
      11. Electronic money institution / Electronic money related activities/MSB’s/Payment institution / provision of payment services
      12. Fourth party payment & multi-layered MSB arrangements
      13. Get rich quick scheme
      14. Hawala or informal value transfer system
      15. High Value Dealers
      16. Multi-level Marketing (MLM)
      17. Offshore bank transactions/ Shell banks
      18. Pawnbrokers
      19. Piracy or illegal streaming
      20. Political/religious organisations engaged in hate speech
      21. Prostitution
      22. Pyramid or Ponzi scheme or multi-level marketing programs
      23. Remittances funded in cash; Cash and Check Handling: Check Cashing, Deposit Taking, Cash Transfer
      24. Sanctioned entities
      25. Shell Banks/Companies
      26. Transactions for goods subject to export prohibition/restrictions
      27. Transactions with living animals (exceptions possible like for payments for horse riding, or dog classes)
      28. Unlicensed charities
      29. Un-licensed FX broker
      30. Unregulated Crypto-currency exchanges
      31. Unregulated financial services (where licensing required)
      32. Unregulated Gambling platforms
      33. Unregulated pharmaceuticals / food supplements (e. g. “nutraceuticals”)
      34. Virtual Currency Trading

12. Currencies

  1. Vault account supports the following 3 currencies for currency exchange, bank transfer loads and transfers out:

    Currency Code
    British Pound GBP
    Euro EUR
    Polish Zloty PLN
  2. The following 23 additional currencies are supported for currency exchange and bank transfer out functionality:

    Currency Code
    Australian Dollar AUD
    Bulgarian Lev BGN
    Canadian Dollar CAD
    Chinese Yuan Renminbi CNY
    Czech Koruna CZK
    Danish Krone DKK
    Emirati Dirham AED
    Hong Kong Dollar HKD
    Hungarian Forint HUF
    Israeli Shekel ILS
    Japanese Yen JPY
    Mexican Peso MXN
    New Zealand Dollar NZD
    Norwegian Krone NOK
    Qatari Rial QAR
    Polish Zloty PLN
    Romanian New Leu RON
    Saudi Riyal SAR
    Singapore Dollar SGD
    South African Rand ZAR
    Swedish Krona SEK
    Thai Baht THB
    Turkish Lira TRY
  3. Vault account supports the following 4 currencies for Vault card transactions, currency exchange, bank transfer loads and transfers out, and debit card loads:

    Currency Code
    British Pound GBP
    Euro EUR
    Swiss Franc CHF
    United States Dollar USD

Foreign Exchange Terms and Conditions

These Terms and Conditions specifically govern the use of foreign exchange products as provided by deVere foreign exchange staff. Please read them carefully.

1. Preliminary

  1. deVere foreign exchange is a trading name of deVere E-Money, UAB the company of which operates under the laws of the Republic of Lithuania, company code 304469514, address J. Balčikonio str. 9, Vilnius, Lithuania – the provider of payment services. deVere E-Money, UAB is authorised and regulated in Lithuania by the Bank of Lithuania (Licence number 9). You acknowledge, understand as well as agree that you are entering into a contractual agreement with deVere E-Money, UAB. Any currency exchange contracts between deVere E-Money, UAB and yourself are governed by the applicable legal acts of the Republic of Lithuania and European Union.

2. Definitions (applicable in conjunction with definitions above)

  1. “deVere foreign exchange Client” and “You” an individual, firm or company who wishes to enter into a Contract with Us for the sale or purchase of currency outside your e-money Account.
  2. “Contract” a contract for the sale or purchase of currency including:
  3. “Forward Contracts” where currency is bought and/or sold for delivery at a fixed time in the future;
  4. “Forward Time Option Contracts” where currency is bought and/or sold for delivery at a time instructed by you within a defined period or at the end of that period in the absence of such instructions.
  5. “Limit and/or Stop Loss Orders” where currency is bought and/ or sold, for the purposes of protection against adverse market movements, for delivery when an agreed exchange rate is available; and
  6. “Spot Orders” where currency is bought and/or sold for immediate delivery upon receipt by us of payment from you.
  7. “Act of God” means an event which is beyond the reasonable control of an affected party including without limit any market disruption, acts or restraints of government(s) or public authorities, war, revolution, strikes or other industrial action, fire, flood, natural disaster, explosion, terrorist action, the suspension or limitation of trading by any execution venue, or any breakdown, failure, defective performance or malfunction of any telecommunications settlement or other equipment or systems.
  8. “Deposit” means in relation to a Contract, an advance payment of such amount as we may at our absolute discretion require from time to time and which will, unless notified to you otherwise, not be more than 10% of the value of the Contract. This is to provide us with security in respect of the risk we are incurring on your contract prior to you making full payment.
  9. “Purchase Currency” the currency which you purchase under a Contract. “Sale Currency” the currency which you sell under a Contract.
  10. Trading Facility” the account which we may, at our discretion, open with you upon our receipt of a properly completed Application Form (and after conducting the appropriate due diligence) and which satisfies such regulatory and other requirements as may be deemed necessary.
  11. “Value Date” the date by which you must make payment to us pursuant to the Contract.

3. Introduction

  1. We provide facilities to Clients for the sale or purchase of currency for personal use, for use in connection with a trade or business and where the Client wishes to protect its exposure to currency exchange rate movements.
  2. We do not and will not provide these sale and purchase facilities to Clients for the purposes of pure speculation on currency exchange rate movements. You must be the legal and beneficial owner of the Sale Currency and that the same is not and will not become subject to any charge or other security or encumbrance.
  3. All Contracts entered into by us are deliverable contracts in which we will make, and you agree to take physical delivery of the relevant currency.
  4. You agree that you will provide to us on request such information regarding your financial and business affairs and identity as may be reasonably required. This information can be collected via Vault App or in special circumstances by other means (including email, mail or phone).
  5. We contract on an execution only basis. Information may be provided to you from time to time, but we cannot and do not provide advice to you, either upon the merits of a proposed Contract or upon any other matter. Before entering into any Contract, you must therefore make your own independent assessment as to whether it is appropriate for you based upon your own judgment and upon such advice from such advisers as you consider necessary. It is an express term of every Contract which you enter into with us that you are not relying upon any communication (written or oral) made by us as constituting advice about or a recommendation to enter into such Contract.
  6. Foreign currency exchange rates are subject to fluctuations outside of our control or the control of any broker. Past movements or trends in the movement of foreign currency exchange rates should not be taken as an indicator of future movements in such exchange rates.

4. Instructions and Placing Orders

  1. You may give us an instruction relating to the purchase or sale and delivery of currency any of the following ways:
    • Verbally (meaning by telephone), in which case we shall require you (on every such occasion) to answer personal security questions, in order to verify your identity. Our verbal acceptance of such an Order constitutes a binding contract between yourself and deVere foreign exchange;
    • in writing, (meaning by post, e-mail), in which case, our written acceptance of the Order constitutes a binding contract between yourself and deVere Vault;
    • Online, (meaning through the deVere foreign exchange online platform), in which case you must confirm your acceptance of these terms in order to execute a trade.
  2. We shall be entitled to immediately act upon Orders placed by you or any person or entity authorised or nominated by you (an “Authorised Party”).
  3. Once an Order has been issued by or on behalf of you in accordance with the above clause and subsequently confirmed, a binding Contract that cannot be rescinded is created, withdrawn or amended without our express consent in writing.
  4. If, with our consent, a Contract is to be rescinded, we shall be entitled to charge a reasonable cancellation fee to cover our costs and losses, including those associated with unwinding any transaction which we entered into on the basis of the Order.
  5. We may, at our absolute discretion, refuse to accept any Order issued to us by yourself or an Authorised Party, without being required to provide a reason or being liable for any loss which you may suffer as a result of such refusal.
  6. We may, without obligation, require confirmation (in such form as we may specify from time to time) from you or an Authorised Party of any Order:
    • if we consider that any Order is ambiguous; or
    • if the Order is to close your account or
    • to remit your funds to a third party or
    • if we otherwise conclude that such verification is necessary.

5. Payments

  1. Subject to clause 3.2, you shall make payment of the Sale Currency in cleared funds by or before the Value Date (into an account held at a bank in the name of “The Currency Cloud Ltd.”, our foreign exchange transaction partner) and which is designated as a “ Transaction Account” for the purposes of such payment.
  2. In the case of Forward Contracts, Forward Time Option Contracts or any other Contract with a forward element, you shall pay a deposit of 10% of the Sale Currency in cleared funds into the relevant Transaction Account within 2 days of the verbal confirmation of the Order.
  3. Payments made other than by telegraphic transfer may take longer to clear and we will not accept any liability in this respect. You must take any such delay into account in discharging your obligation to make payment of cleared funds by the Value Date or other payment date.
  4. Failure by you to make cleared payment of the Sale Currency by the Value Date, or other payment date under a Contract shall relieve us of any obligation to settle that Contract or to pay to you (including to your order), any amount in respect of that Contract although we may at our discretion nonetheless choose to do so.
  5. We may seek confirmation from the bank at which the Transaction Account is held or from any broker or dealer with or through whom we execute currency transactions (the “Broker”) that the full amount of Sale and/or Purchase Currency due under a Contract has in fact been received before making any payment to you under that Contract.
  6. All payments due from you to us under these Terms shall be made in full without set-off, counter-claim, deduction or withholding of any kind.
  7. We may deduct from any payment to be made to you under any Contract:
    1. Such amounts as may be charged by the Broker or other third parties in respect of transfer charges or other fees or costs.
    2. Any sum which is overdue to us from you under any other Contract.
  8. A deposit may be required from you in order to validate any contract made (subject to clause 4 below).
  9. Any payment which we make to you will ordinarily be made on the Value Date by telegraphic transfer to an account designated by yourself.
  10. For payments being made on the Value Date that are received by Us by 12:00h GMT (noon) on a business day, we will endeavour to make the outgoing payment on the same business day dependent on the time zone of the receiving party. For payments received after 12:00h GMT (noon), We will endeavour to make the outgoing payment on the next business day.
  11. If you become aware of an unauthorized or incorrectly executed payment transaction, you must notify us without undue delay, no later than 3 months after the date of the transaction. For future dated payments, the latest point at which you can revoke the payment instruction is by close of business in the UK on the day before the payment is due to be made, or if the payment transaction is to be made when funds are available, close of business in the UK on the day before those funds become available.
  12. Payments will not be accepted from a 3rd party on your behalf.

6. Contract Notes

  1. Each Contract will be evidenced by a document confirming and recording the execution of a Contract between us and you (a “Contract Note”). We will endeavour to send each Contract Note via email (unless You specifically request the Contract Note to be sent by post) to you as soon as possible after the execution of the relevant foreign currency trade, but our failure to send a Contact Note in respect of a particular contract will not prejudice the rights and obligations of either party under that Contract.

7. Forward Contracts: Deposits, Our rights of cancellation

  1. You may authorise Us to enter into a Forward Contract including:
    1. Forward Time Option Contract, verbally, email or by delivering a written and signed order to Us, or online (meaning through the deVere foreign exchange online platform). Forward Contracts will be subject to the specific terms and conditions set out below.
  2. You shall pay to us a Deposit, as a condition precedent to the Forward Contract depending on our perception of prevailing market conditions and your financial circumstances. The Deposit should be received within two (2) Business Days of your instruction to enter into a Forward Contract with us, confirmation of which has been provided either verbally or in writing.
  3. If at any time during the term of the Forward Contract, the Deposit falls below 10% (which will be calculated on the basis of the relevant current foreign exchange rate) but remains in excess of 5%, we may contact you by telephone and/or e-mail to advise you that the amount of the remaining deposit has decreased and that we may, in the event that the Deposit should decline further, require you to make an additional deposit with us (known as a “Margin Call”), in order to increase the Deposit amount and maintain the required level of at least 5%. We may in any event require you to increase the value of the Deposit (as a matter of course) if the value of the Deposit falls to a level of 2.5% or below. In either event we may give you formal notice of an immediate “Margin Call” by telephone (to be confirmed by email) and the required Deposit will need to be received by Us within two (2) business days of the “Margin all” notification to you. If the required funds are not received by this time, we reserve the right to rescind the Contract and hold You liable for any subsequent shortfall.
  4. In the event of the contract being rescinded by us, as mentioned above in clause 5.3, you shall be required to remunerate us within two (2) Business Days from the date of our demand (either by phone or in writing), the full amount of all losses and expenses incurred by us in connection with the contract being rescinded.
  5. The initial Deposit (and any additional Deposit provided) will be held in a separate designated client account.
  6. On the final delivery date of the related Forward Contract and provided that we have received full settlement of the currency funds to be purchased from us as stated in the Forward Contract, we will pay the full value of the Contract to your designated account or such other account that you may instruct us in writing.

8. Charges

  1. Save as set out below, we do not levy any charges, fees or commissions for the purchase or sale of foreign currency under Contracts which are properly executed and performed in accordance with these Terms. You acknowledge that our profit under any Contract is derived from our application of a premium or, as the case may be, discount to the relevant spot or forward exchange rate. The exchange rate which we offer to you may not therefore be the same as the one which we obtain for ourselves.
  2. Any Telegraphic Transfer charges (TT) must be paid by you (in advance) for the transfer of funds.

9. Disputes, Overdue payments and Interest

  1. If at any time a dispute arises between us and you, relating to the existence of a Contract or the terms of any Contract (in either case a “Disputed Contract”), we may take any action which we reasonably consider to be necessary in the Context of the dispute, which may include rescindment or any action we may choose to preserve the position of the parties under the Disputed Contract pending the settlement of the dispute. We will endeavour to notify you (either orally or in writing), as soon as is practicable of any such action, but any failure to do so does not invalidate that action.
  2. In resolving any such Disputed Contract, reference shall (where relevant) be made to any available electronic messages and recordings (or transcripts of recordings) of telephone conversations between the parties.

10. Default, Suspension and Termination

  1. We shall have the right to refuse to perform or to rescind all or any part of any Contract at any time without giving prior notice to or obtaining further instructions from you and without liability for any losses that may be incurred as a result if any of the following events occur:
    1. You fail to make any payment due under these Terms or any Contract;
    2. You are (or threaten to be) in material breach of any of these Terms or of any of your obligations under a Contract;
    3. You pass away or become of an unsound mind;
  2. You cease to (or threaten to cease to) carry on your business, suspend payment of your debts, make a composition with any of your creditors, have a receiver appointed over some or all of your assets, commence or are the subject of any bankruptcy or insolvency proceedings other than for the purposes of amalgamation or reconstruction approved in advance in writing by us), or an analogous event occurs in any relevant jurisdiction;
  3. You fail in any respect fully and promptly to comply with any obligations to us or through us to any clearing house or Broker or bank;
  4. It becomes (or it appears that it may become) unlawful for us to maintain or give effect to all or any of the obligations under these Terms or otherwise to carry on your business or if we or you are instructed or requested to rescind a Contract (or any part thereof) by any regulatory or law enforcement authority, whether or not that request is legally binding. In such event, we may be required to retain any sum which would otherwise be due to you and/or to pay over the same to such authority;
    • We, at our discretion, consider it necessary to default, suspend or terminate the contract for our and/or your protection including but not limited to the following circumstances:
      1. Protection from fraud;
      2. Protection from your default:
      3. Protection from market failures;
      4. Our and/or your protection from adverse or volatile market conditions; and
      5. Our and/or your protection from suffering a loss.
  5. Should you become aware of the occurrence or likely occurrence of any of the events referred to in condition 8.1, you shall immediately give us notice of the same.
  6. After the cancellation of a Contract for any reason we (or the Broker) will, as soon as is reasonably practicable, send to you a settlement notice recording your position as a consequence of the rescission of the Contract.
  7. We assume no responsibility whatsoever for any delay in the making of any payment which is due under these Terms and/or any Contract and which is caused by you or by any third party. You are solely responsible for ensuring that all due payments are made within the time limits specified by these Terms and any Contract.
  8. We may terminate or rescind a contract on the occurrence of an Act of God, where our continuation would require us to be exposed to an unpredictable liability against which we are not protected.
  9. If We refuse or are otherwise unable to make a payment, we will notify you as soon as possible and give reasons for this, unless it would be unlawful for us to do so.

11. Limitation and Liability

  1. We shall not be liable for any delay or failure to perform our obligations under these Terms or any Contract due to any cause which:
    1. Arises from any electronic, computer or communication failure including the failure of any such system which belongs to us or is under our control; or
    2. Is beyond our reasonable control and/or arises from the act or omission of any third party. In the event of such delay or failure we shall, with your agreement, continue to attempt to perform the relevant obligations. Moreover, our liability must be based on a foreseeable result of the breaching our obligations under these Terms and Conditions or failing to use responsible care and skill while providing our services under these Terms and Conditions.
  2. We will not be liable for any delays of execution of instructions arising from compliance with duties flowing from applicable laws and regulations.
  3. Subject to clause 9.5, where we are in breach of our obligations under these Terms and/or any Contract, our liability is restricted to direct losses caused by such breach and excludes any other loss including, without limitation, any indirect or consequential loss, loss of profit or special damage whether within the contemplation of the parties or not. For the avoidance of doubt, the limitation of liability is not applied in case of gross negligence or wilful
  4. You agree to compensate deVere Foreign exchange in full on demand, and keep us indemnified and compensated from and against all liabilities, damages, losses (including lost profits), expenses (including the expenses incurred by us in mitigating our exposure to risk or loss), costs (including reasonable legal costs), duties, taxes, charges or commissions incurred or suffered by us in the proper performance of our services or the enforcement of our rights under these Terms or any Contract as a consequence of including but not limited to these clauses listed hereunder:
    • Our entering into any Contract with you;
    • Your committing a material breach of these Terms or any Contract including any delay or failure to comply with your obligations to make payments to us under any Contract by the Value Date, or to pay any other sum which may from time to time become due and payable to us under these Terms;
    • Our acting upon any Order which we are entitled to regard as having been made by yourself or an Authorised Party;
    • Your failure to provide us with accurate, complete and up to date information;
    • Our exercise of our rights under these Terms to rescind all or any part of any Contract before the applicable Value Date.
  5. In any event that entitles us to be indemnified and/or compensated by you, the user, we shall be entitled to recover any sum due to us by way of indemnity, compensation or otherwise by:
    1. Retaining part or all of any sum that you have placed with us under any Contract; and/or;
    2. Selling any currency purchased by us pursuant to the Contract.

The provisions in this paragraph 10 shall survive termination of any Contract or other agreement under these Terms.

Your Vault Card is provided by Moorwand Ltd (FCA Reference No 900709), a Principal member of Mastercard International Incorporated. Mastercard is a registered trademark and the circles design is a trademark of Mastercard International Incorporated. Any communications in relation to the card can be sent to Moorwand Ltd, Irongate House, 30 Dukes Place, London, EC3A 7LP, United Kingdom.

© 2023. All rights reserved.

Your Vault Card is provided by Moorwand Ltd (FCA Reference No 900709), a Principal member of Mastercard International Incorporated. Mastercard is a registered trademark and the circles design is a trademark of Mastercard International Incorporated. Any communications in relation to the card can be sent to Moorwand Ltd, Irongate House, 30 Dukes Place, London, EC3A 7LP, United Kingdom.
© 2023. All rights reserved.