This Policy describes, how Customer may deposit funds to its Account using a payment card (credit or debit card), and / or withdraw funds to its account with another payment services provider.
This Card Deposit & Withdrawal Policy (“Policy”) applies to:
- deposits made via User Profile to Customer Account with a payment card (credit or debit card);
- withdrawals from Customer Account via User Profile to account of Customer with another payment services provider.
This Policy covers only deposits made by cards and deposits made by fund transfers shall be covered by AltPay General Terms and Conditions.
Customer is aware that depositing funds to the Account results in money being electronically issued to the Customer for the amount of such deposit less Fees applied. In turn each withdrawal results in redemption of the electronic money held by Customer. Therefore, regulation in regard to electronic money issuance and redemption may be applied to each particular transaction. AltPay may amend this Policy including Deposit & Withdrawal options at its own discretion and the current version shall be always available at AltPay Webpage https://altpay.uk/deposit-withdrawal. Definitions not defined herein, shall have the same meaning as defined by AltPay General Terms and Conditions.
This Policy is supplemental to procedures and terms set out in AltPay General Terms and Conditions.The limits for deposits and withdrawals are given by the table below.
Name on the card used for the deposit shall be the same as the name of the Account.
Withdrawals are allowed only to the account with the same recipient’s name as Account’s name the withdrawal is being made from. Payments to third persons shall be not considered as withdrawals, but rather outgoing transfers and are covered by AltPay General Terms and Conditions.
All deposits and withdrawals are subject to, and may be restricted according to, AltPay General Terms and Conditions, including Prevention of money laundering and terrorism financing requirements.
In order to make a deposit using a payment card, Customer must follow these steps:
- Log-in into your User Profile;
- In main dashboard Select (click) Top-up;
- Enter top-up amount;
- Enter card data and name on card;
- Select (click) Pay.
If Customer does not have an Account in currency in which deposit was made the amount of deposit will be converted according to rate set under AltPay General Terms and Conditions.
In order to make a withdraw from the Customer Account, Customer must follow these steps:
- Log-in into your User Profile;
- Select (click) Beneficiaries and chose the destination account;
- Enter withdrawal amount;
- Select (click) Make payment.
Withdrawals back to card are currently not supported.