Business FAQ
General
What does YuroPay offer?
YuroPay offers a modern banking solution as an business account and an embossed business prepaid Mastercard GOLD.
What is the YuroPay business account?
The YuroPay account is an “e-wallet online business account” that can be managed online and worldwide. All you need is an internet access.
What is the YuroPay business card?
The YuroPay business card is an “embossed” prepaid Mastercard GOLD that is accepted worldwide wherever you see the Mastercard logo. You can also use the YuroPay business card to withdraw cash at any ATM.
Do you make a credit check?
No. As the YuroPay online business account is based solely on your actual balance, a credit check is not required.
Application
Who can apply for a YuroPay business account?
The account opening is for all EU legal forms possible, e.g. freelancer, sole-trader, partnerships and corporations, registered in the “German” commercial register. The director, shareholder and beneficial owner must also be resident in Germany.
How can I open a YuroPay business account?
Click on the button Sign up and complete the form. Furthermore, the following corporate documents are required:
As sole-trader:
– Certified copy of the business registration certificate
As partnerships and corporations:
– Certified copy of the certificate of incorporation (if applicable)
– Certified copy of the commercial register extract
– Certified copy of the momorandum of association
– Certified copy of the momorandum of association
– Complete list of all ultimate beneficial owners
In addition, we require a certified copy of the identity card or passport, including a proof of residence from all owners, directors, shareholders, beneficial owners. Alternatively, the individual may open a YuroPay private account to identify themselves.
Who can certify the documents?
The certification must be done by a notary, lawyer or authority and in English as follows:
• ID card/passport: I hereby certify that the above copy is a true copy of the original which has been produced to me and the photo is a true likeness of (Name of Individual).
• Corporate documents, proof of address: I hereby certify that the above copy is a true copy of the original which has been produced to me.
Where should I send the documents?
Send the documents to the following postal address: YuroPay Ltd. & Co. KG, PO Box 10 22 06, 20015 Hamburg, Germany.
When and how do I receive my account access data?
Upon receipt of your complete documents and review by our compliance department, your YuroPay business account will be opened within approximately three weeks. You will then receive your account access data automatically and via e-mail.
Account information
What is the currency of the YuroPay business account?
Currently we support only Euro as currency.
Can I get my unique IBAN?
Yes. Each YuroPay business account will be assigned in unique Maltese (MT) IBAN.
How can I use my YuroPay business account?
You can use your account in two ways: for incoming and outgoing payments.
a) Receipt of payment: YuroPay offers you various possibilities to receive payments, e.g. by intra wallet transfers in real-time from other YuroPay account holders, SEPA transfer, by credit card (VISA and Mastercard) and by SOFORT.
b) Outgoing Payments: Once you have received incoming payments on your YuroPay business account, you can make SEPA transfers, international transfers (SWIFT) and intra wallet transfers to other YuroPay account holders. In addition, you can load your business prepaid Mastercard GOLD.
Can direct debits and standing orders be processed via the YuroPay online business account?
Direct debits are supported, standing orders not (yet) supported. This requires technical measures. We plan to introduce it later this year.
What limit does the YuroPay business account have?
Your YuroPay business account has no limit for incoming payments.
Why was my YuroPay business account suspended?
There are only three reasons why your YuroPay business account is blocked:
– There is a suspicion that unauthorized transactions have taken place.
– Or, that your YuroPay business account is or has been misused. In this case, the blockage is only for your safety.
– If your YuroPay business account has been inactive for the last six months and no transactions have taken place.
How can I unlock my YuroPay business account?
You will need to contact customer support.
Why was my YuroPay business account closed?
We may take action to immediately close your YuroPay business account if we have reason to believe that:
1. You are not authorized to use a YuroPay business account;
2. You have provided false information about yourself;
3. You (or anyone else) uses the YuroPay business account for any illegal or criminal activity;
4. Your behavior indicates that it is not up to us to maintain your YuroPay business account;
5. Your conduct regarding the use of your YuroPay business account is consistently unacceptable;
6. By maintaining your YuroPay business account, we will violate a law or regulation we must adhere to.
7. We damage our reputation by maintaining your YuroPay business account.
8. You breach any terms, conditions or arrangements that are inconsistent with account application and conduct.
9. Offend or threaten us verbally or in any other way.
Please note that if we have to close your YuroPay business account prior to the expiration of twelve months after opening an account for any of the above reasons, you may incur a corresponding account closure fee as outlined in our Fee Schedule.
Can I close my YuroPay business account myself and incur fees?
You have the right to close your YuroPay business account by writing to us. In the event that you close your YuroPay business account within twelve months of opening your account, you will incur an account closure fee as outlined in our Fees Schedule. If, however, you do not agree to a change in our terms and conditions, you can make use of your special right of termination and your YuroPay business account extraordinarily and in writing. In this case, you will incur no fees for the account closure.
Can multiple users get account access?
Yes. Our web portal has been designed so that an online business account can be managed by multiple users.
Therefore, you will be asked to provide the details of the persons who will be users and / or authorized signatories of the YuroPay business account. You will also be able to give these people different roles and authorization limits.
Card information
How can I order a card?
To do this, log in to the web portal, click on the button Card => Order a new card. Card manufacturing and delivery can take 7 to 10 business days.
How many cards can I order?
Up to two cards for each user can be issued, which are independent from each other.
How can I use my card?
First activate your card in the web portal under Card => Activate Purchased Card and follow the instructions. With activation, the annual card fee is debited immediately. Therefore, the account balance must exist on the online private account.
How can I load/unload my card?
Before you can use your card, you need to load the card. To do this, click in the web portal on Cards, select the appropriate card, click on Load card => Specify Amount and Purpose and then click on Confirm. The unused credits can also be unload to the online business account. Click Unload card => Specify Amount and Purpose, and then click Confirm.
How do I get the PIN to my card?
Once you have activated your card, the PIN will be sent to your mobile number via SMS.
I have not received a PIN by SMS, what can I do?
In the web portal, under Card => PIN service, click on PIN reminder.
What is the PIN service?
In the web portal you have several options under Card => PIN service. You can change the PIN, resend it or unlock it if you have entered it incorrectly three times.
How can I change the PIN?
Under PIN Service, click Change PIN. The new PIN will be sent to your mobile number via SMS.
To activate the new PIN, you have two options:
1. Use your card at POS with the “old” PIN. Then the new PIN becomes active.
2. Withdraw any amount at ATM with the “new” PIN.
How can I lock my card?
In the web portal under Card => Lock card. Select the reason and confirm your selection. You can also order a replacement card at the same time.
Loading channels
How can I load my YuroPay business account?
You can load your YuroPay business account by SEPA transfer, credit card (VISA or Mastercard) or SOFORT. The minimum amount is 1,00 EUR. Loading by credit card (VISA or Mastercard) or SOFORT is limited up to max. 999,00 EUR per day, not applicable for SEPA transfers.
How long does it take to load my YuroPay business account?
Loading by SEPA transfer takes approx. one to two business days. Loading by credit card (VISA or Mastercard) or by SOFORT will be done in real time.
How can I load my YuroPay business account via SEPA transfer?
You will find the account details in the web portal, when you click on Load funds => By Bank.
Payment orders
How can I make a transfer?
Log into your YuroPay business account and select the option Transfer funds => Outward payments.
– For a SEPA transfer, please enter the data in the SEPA Credit Transfer form.
– For an international transfer (SWIFT), please enter the data in the form Non-SEPA Bank Transfer.
If you have opted for a SEPA or non-SEPA option, please click Authorise or Authorise and Save as Template. Then you will receive a TAN via SMS to initiate and confirm the transfer.
The Maltese IBAN is only activated for incoming / outgoing SEPA payments and outgoing SWIFT payments. Incoming SWIFT payments are not possible.
How can I transfer money to other YuroPay accounts?
In the web portal click on Transfer funds => To eWallet. Enter the recipient’s YuroPay account number or e-mail address, the amount and purpose and click Submit. After entering the SMS code, the transfer will be executed and the fund will be sent in “real time” to the account of the recipient.
Can I make mass payments?
Yes. Our web portal allows you to make mass payment. It is also possible to upload and execute a “CSV file” with multiple payment orders via our web portal.
When will SEPA transfers be processed?
Payment instructions made by you will be processed by us as follows:
1. The same day – this applies to all incoming orders until 16:00.
2. The following working day – this applies to orders received after 16:00 or on a day not a working day.
When will non-SEPA credit transfers (SWIFT) be processed?
International payments are processed by us as follows:
1. The same day – this applies to all incoming orders until 13:00.
2. The following working day – this applies to orders received after 13:00 or on a day not a working day.
Why is the remaining balance on my YuroPay business account different from the actual balance?
Outgoing payment orders will only be reflected in your YuroPay business account after they have been executed. This can take up to 24 hours. Therefore, the current account balance will be displayed as available balance.
What happens if I specify the wrong IBAN or wrong payment details?
If incorrect payment details have been provided or the payment has been inadvertently assigned to a wrong account, the respective amount may either a) be credit to the recipient’s account with a slight delay or b) the amount will be returned to the original account.
YuroPay reserves the right to charge a fee for manual processing according to our fee list. This fee may incur additional fees from third party banks, which will also be charged. Furthermore, YuroPay can not be held responsible for the loss and / or delay of a faulty payment.
Why was my transfer order not executed?
You must always provide the recipient’s full first and last name or company name (no nicknames, abbreviations, etc.) for the transfer order to run without delay.
What should I do if I notice that a payment order has not been authorized by me?
YuroPay always strives to ensure the security of your account information. However, if you notice any discrepancies, you must notify us immediately so that we can immediately suspend and change your password information.
Account statement
How do I receive my account statement?
Account statements can be generated at any time without cost via our web portal. However, the account statement can be used for a period of max. 60 days are printed together.
Account access
What should I do if I forgot my password?
You can request a new password via the login page of the web portal.
What should I do if I have forgotten the answer to my secret question?
It can happen. In this case, please contact our customer support.
Why can I not get a code via SMS?
This can have different reasons:
1. Our system is offline or there is a problem. In such cases you will be informed by e-mail.
2. Sometimes the code is delayed sent by the system. Please wait a few minutes and try again.
3. Your mobile service provider blocks SMS reception. Please switch off and turn on your mobile device.
How can I update my personal information?
You can change the following data in the Web portal under Profile:
– Your e-mail address
– Your password
– Your mobile number
For the modification of other profile data contact the customer support.
Security
How safe are my card information?
Your card data is stored within a so-called “PCI level 1 certified infrastructure”. Therefore, we have never access to your card or to your personal information. It is therefore imperative that you keep your data secure.
How do I protect passwords, security tokens, personal information and other confidential information?
Your access data to your YuroPay business account is personal and must be kept secure so that only you have access to it. Please do not share your access data with other persons and please ensure that no other persons are allowed to see your data.
How safe is it to register over the Internet?
At YuroPay we use different encryption and very secure firewalls for our servers. We can almost guarantee that your data is absolutely inviolable during registration and account management.
Do you share my data to other companies?
Please note our privacy policy.
Will YuroPay ever send an email to request my CVV number?
Under no circumstance. YuroPay will never ask you – by e-mail, telephone or post – for your business account / card information. If this happens, please contact us immediately.
