In which currency the YuroPay private account will be opened?
Currently we support only Euro as currency but more currencies will be available in due course.
Will I get a dedicated IBAN for my account?
Yes. Each verified and approved YuroPay private account will come with dedicated Maltese (MT) and German* (DE) IBAN.
How can I use my YuroPay private account?
You can use your account in two ways: for incoming and outgoing payments.
a) Receipt of payment: YuroPay offers you various options to receive payments, e.g. by real-time intra wallet transfers from other YuroPay account holders, by SEPA transfer, by instant load using a credit- or debit card (VISA and Mastercard) or SOFORT.
b) Outgoing Payments: Once you have funds in your YuroPay online private account, you can make SEPA transfers, international transfers (SWIFT) and instant intra wallet transfers to other YuroPay account holders. In addition, you can load your prepaid Mastercard GOLD if you have registered your card choosing the option “prepaid”.
Can I open multiple YuroPay private accounts?
No. We allow only one YuroPay private account per applicant.
Can I receive payments from third parties?
Of course you can receive payments from third parties on your YuroPay private account, such as: salary, pension, unemployment benefits, or private payments from friends and relatives. The receipt of “commercial” payments such as commissions, sales income, customer funds, etc. is not permitted. For such payments you will need to open a YuroPay business account.
Can direct debits and standing orders be processed via the YuroPay private account?
Direct debits and standing orders are not (yet) supported. This will require technical and regulatory measures and we plan to introduce these features later this year.
Can I make transfers to friends, relatives, colleagues etc. who do not have a YuroPay online personal account?
Of course you can transfer funds to people who do not have a YuroPay private account through our web portal. All you need is the recipient’s e-mail address – no additional data or bank details are required. The recipient will then automatically receive an e-mail through the web portal that you wish to transfer money to him/her, and that he or she should set up a YuroPay private account to receive the payment.
Why was my YuroPay private account suspended?
There are only three reasons for blocking your YuroPay private account:
1) There is a suspicion that unauthorized transactions have taken place. Or, that your YuroPay private account is being misused or has been exposed to third parties. In this case we immediately block the account for your own safety.
2) If your YuroPay private account has been inactive for the past six months and no transactions are executed.
3) If you have exceeded your annual limit.
How can I unblock my YuroPay private account?
You will need to contact our customer support.
Why was my YuroPay private account closed?
We may take action to close your YuroPay private account if we have reason to believe that:
1. You are not authorised to use a YuroPay private account;
2. You have provided false information about yourself;
3. You (or anyone else) uses the YuroPay private account for any illegal or criminal activity;
4. You are conducting your account in such a way that we do not want to take further responsibility for keeping your account active;
5. By maintaining your YuroPay private account, we will violate a law or regulation we have to abide.
6. It will harm our reputation if we further maintain your YuroPay private account.
7. You breach any terms and conditions or further agreements in place that are not in line with the account application you made and/or the way you maintain your account.
8. You offend or threaten us verbally or in any other way.
Please note that if, within the first twelve months after approval, we have to close your YuroPay private account for any of the above reasons you may incur an account closure fee as outlined in our Fee Schedule.
Will I incur any fees if I decide to close my YuroPay private account?
If you want to close your YuroPay private account you have to inform us in writing. In the event that you decide to close your private account within the first twelve months from the date your account has been opened, you will incur an account closure fee as outlined in our Fee Schedule. If we adapt our terms and conditions and you do not want to agree to the changes, then you have a special right of termination. If you want to make use of your special right of termination, this must be done in writing. In this case, you will incur no fees for the account closure.