Card Usage Term

Kindly read and accept the following to use this card:

General

Minimum card balance

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

Card Issuance Fee

$1.00

A one-time fee of $1.00 will be charged upon card issuance.

Card Funding Fee

  • A fee of 2% will be charged on each card funding transaction capped at $100.00 for funding up to or above $5,000.00.
    Note: This fee is subject to change as card limits are exceeded and demanded for review upon card holder/users demands.
  • A minimum funding fee of $0.20 is charged for the least card funding
  • A $100.00 maximum capped funding fee is charged for the any card funding above $5,000.00

Card Withdrawal Fee

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

Cross Border Authorization Fee

  • Refers to the fee taken per authorization of a transaction outside of the Dollar denominated currency by the user or cardholder.
  • Authorization fee for successful cross border transaction for currencies like Euro, GBP, etc and is charged at 2.2% of total amount spent + $0.50.
  • Authorization fee for unsettled/failed cross border transactions for currencies like Euro, GBP, etc is charged at $0.32 per decline.
  • Authorization fee for unsettled/failed Dollar transactions  is charged at $0.05 decline.
  • If your card payment authorization fails due to insufficient funds 4 times within a 1 month period, your card will be automatically deleted.

. Card Daily Spend Limit

$5000.00

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

Card Minimum Withdrawal

$5.00

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

Card Monthly Spend Limit

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

Card Security

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

Card Deletion

  • You can close/delete your card at any time by tapping on the delete card button or by contacting customer support.
  • If your card payment authorization fails due to insufficient funds 4 times within a 1 month period, your card will be automatically deleted.
  • All outstanding fees and charges will be deducted from your account balance before deletion.

Governing Law:

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

Ammendments

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

Contact Us

For any questions or concerns, please contact our customer support team at [email protected].

Currency spread fee

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

You agree to these Terms of Use by using your Virtual USD Card.

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

Tips to avoid card deletion and decline fees:

  1. Maintain a minimum balance of at least $5.00 – $10.00
  2. Freeze your card if you have a dedicated subscription and cannot afford to  fund your card.
  3. Keep track of your card spend pending balance using the “statement” section under Manage Cards on the Palremit USD card feature regularly to and cancel unwanted subscriptions.
  4. Keep track of your card account balance using the “Card Details” section on the Palremit USD card feature.