Payz MasterCard and Virtual card: fees and limits

What is Payz MasterCard?

If you are hoping to make the most out of every one of your transactions through your Payz account, then the Payz MasterCard, is undoubtedly the perfect addition to your finance handlings. From online or offline purchases of up to €5,500 a day to worldwide daily ATM cash withdrawals of as much as €750, your MasterCard will facilitate every one of your financial endeavours. Your Payz MasterCard is directly linked to your Payz Account such that its balance is readily available for you to access anywhere that accepts MasterCards.

The Payz MasterCard is a contactless deposit or prepaid MasterCard plastic card. For purchases up to € 50, you may make full use of its contactless feature without having to enter your PIN code. As with all prepaid cards, your spending will be restricted to the funds already available in your Payz account. This means that you will not have the option to take credit with an Payz MasterCard as it strictly operates on a prepaid basis.

You will have the option to order up to three Payz MasterCards in different currencies. These may be set up in either EUR, USD, GBP, PLN, DKK, CZK, NOK or SEK and will allow you to avoid having to pay for exchange rate fees whenever you are withdrawing cash from an ATM.

The only restrictions on Payz MasterCard that you should be aware of are as follows:

• Cardholder’s area of residence where Payz MasterCards are only issued to the 31 member countries of the European Economic Area (EEA).
• Daily limits on cash withdrawals and shopping.
• The Payz MasterCard is valid for 2 years, after which it will need to be reissued.

Luckily, commissions and further limits may be unlocked by creating an Payz account via Baxity. One just needs to send their account details, including their ID and email, to Baxity to initiate their linked account.

For those who enjoy some additional security or require some extra anonymity, the Payz Virtual Card offers the perfect refuge for both cases. As a virtual disposable card, it may be created whenever it is needed and can be used as a single-use payment intermediate for any one of your more delicate transactions.

Until recently, Payz had been issuing a card – Payz Card. Although this card is still used by those who ordered it before, this card is no longer available for new Payz customers. Payz Card was replaced by Payz MasterCard. Its features are very similar to Card, but there are small differences in card fees and limits. If you are interested in more detailed information about Payz Card, you can find it by following this link.

If the Payz Card holder orders an additional prepaid card, he will receive a new Payz MasterCard, but his old Card will be disabled, and in the future, only Payz MasterCard will be available for ordering.

Payz MasterCard fees

Once ordered, your Payz MasterCard will be delivered within just a handful of days and completely free of charge. As long as you have gone through the required verification process for your account, the only fee you will have to pay to obtain your card is for its re-issue.

Payz MasterCards operate on a unique principle which sets its tariffs regardless of your account status. Unlike the conventional limits set on most of your transactions, your Payz MasterCards taxes are set to the same rate for all status.

Tariffs for all statuses (Silver, Gold, Platinum, VIP):

* Withdrawals via the ATMs and bank withdrawals
** Financial institution (banks) services; Travelers cheques; Gaming and lotter; Money order, Forex, Security brokers and Dealers (stocks and shares).

Note: there can be some restrictions for the residents of UK, Canada and Bangladesh if they want to get Gold status in Payz on special terms.

One should take particular note of the currency of the transaction and that of the card since their respective values may engender additional Payz fees. If they differ, the conversion rate will be credited as 2.99 % of the total transaction amount. This can incur substantial costs whenever one withdraws cash from an ATM. It is therefore recommended that you exploit the offer for three different cards to possess one in each of the relevant currencies necessary to your regular transactions.

Payz MasterCard limits

Although Payz MasterCard limits remain somewhat contained, they differ between verified Silver accounts and the other Gold, Platinum or VIP statuses.

The quickest and most efficient way for you to boost your Payz MasterCard limits to a maximum is to create your Payz account directly through Baxity. This will let you obtain a Gold status within just two hours of submission and maximise your limits up to €500 for cash transactions and 11,000 EUR for purchases in one go.

* Withdrawals in the ATMs and bank withdrawals
** Store and online purchases

Although the Payz MasterCard is a fully functioning contactless card, one should note that after every 5 contactless payments of up to 50 EUR each, you will have to carry out one complete contact card payment with PIN.

How to order Payz MasterCard?

To order an Payz MasterCard, you simply need to be in possession of an active and verified Payz account. If you do not yet have an account, you can create a new Payz account via Baxity to reduce the tedious 24 hour verification period to just 2 hours. You will also be able to benefit from an immediate Gold status upon Payz registration to maximise your Payz MasterCard limits immediately.

Ordering Payz MasterCard is straightforward and easy:

• Log in to your account.
• Go to the main menu “Payz cards” and click on the “Payz MasterCard” tab
• Click “Get your card.”
• Check and confirm the data, paying special attention to the postal address, where the card will be delivered to by regular mail. Click “Order card”.
• Get an email confirmation within 1-2 days to approve the successful issue of the card.

The status of the request can be viewed in the “Payz cards” section, under the heading “Payz MasterCard”.

• You will receive the card within 21 days of your confirmed application by means of a regular letter to your mailbox.
• Activate the card to receive your PIN code online.

To activate the card, go to “Payz cards” to the heading “Payz MasterCard” and click “Activate”. You will be asked to enter the last 4 digits of your 16-digit card number, as well as your date of birth and your mother’s maiden name. All that is left for you to do is to click “Activate your card”, and you will receive a notification to confirm its successful activation alongside your PIN code.

You have three attempts to activate your card, after three unsuccessful attempts to activate the card you will need to contact Payz support. After your card has been fully activated, you will be able to view your PIN code online anytime you need to.

Problems and solutions

How do I change the PIN code?

You can change your PIN code at any ATM you happen to pass by. Simply go to the “PIN code entry services” section and follow the instructions displayed on the screen.

I have still not received my card by mail 21 days after ordering my card, what should I do?

• Check if the address in your account profile is up to date: go to “Settings” → tab “Account”. If it is not up to date, you will have to contact Payz support to help you fix the mistake. Otherwise, if your address is correct, you may follow to the next point.
• Go to “Payz cards” to the tab “Payz MasterCard”. If your request is still being processed, your “Status” tab will display the warning “Waiting Approval”.
• If all of your data is correct, you should contact the 24-hour support team to help you out with your trouble.

What if the card is lost or stolen?

You should access your account in the menu “Payz cards” under the tab “Payz MasterCard”. There, you will have the option to “Cancel the card” where you may select the field “Lost” or “Stolen” in the appeared hint and “Continue” to complete your request. The card will be cancelled, and you will be forced to get rid of it even if you happen to find it again.

Otherwise, you should contact the Payz support team immediately by phone at +44(0)371 898 1012 or via Live Chat.

Why has my payment/withdrawal been rejected?

There may be a range of reasons why your transaction has been rejected, here are a few of the most common occurrences:

• You do not have enough money in your account to process the transaction fee
• You have exceeded one or more limit
• You have used the wrong PIN code. After 3 unsuccessful attempts, you will need to contact Payz support to unlock your card.
• The seller you are purchasing from does not accept MasterCard payment cards. In this case, you should personally check with the seller whether this is indeed the case or not.

What is Payz Virtualcard?

For just € 1,80 you can create a virtual card directly linked to your Payz account known as the Payz Virtualcard. This is a single-use card which will automatically be cancelled one your desired transaction has been completed. This essentially ensures that your funds will not be stolen or lost.

The Payz Virtualcard is available for any member country of the EU or EEA in possession of Silver status. May be opened in three currencies of choice: EUR, GBP and USD. It will remain valid for as long as a year and will automatically be cancelled after 12 months of inactivity.

Payz Virtualcard fees

The Payz Virtualcard tariffs are status-independent and hence only charge general fees:

• card issuance – 1,8 EUR
• currency conversion – 2.99%
• deposit of money to merchants (banks, brokers, funds, gambling merchants) – 4% (minimum 0.8 EUR)

All other services are completely free of charge:

• card payment in online stores,
• balance requests, invoices, statements of account,
• changing the information in your profile,
• card cancellation and closing.

Payz Virtualcard limits

The Payz Virtualcard has daily limits, which increase just as the status increases.

How to order an Payz Virtualcard?

Ordering an Payz Virtualcard could not be any easier or quicker. Just a minute of your time is required to have your card ready for use.

Once you are logged into your Payz account, you can access your “Payz prepaid cards” from the general menu. Under the “Payz Virtualcard” tab you should click on “Get your card” and select your account of choice which you would like to credit to your card. After selecting your desired currency, you have to confirm the terms of use, associated commissions and limits and you are ready to “Order your card”. After just a few clicks your ecoVirtualcard will appear in your account available for instant usage.

Availability of Payz MasterCard and Virtual Card

The Payz MasterCard and the virtual card (Payz Virtualcard) are only available to residents in 31 EU/EEA countries:

Residents of other countries may still use Payz and create an account but will be unable to obtain an Payz MasterCard or Payz Virtualcard.

Summary

For any resident of the 31 EEA countries, obtaining an Payz MasterCard or Payz Virtualcard is both a remarkably convenient and highly profitable endeavour to ensure that every one of your payments is fully secure and anonymous.

Wherever you go, you can access your Payz wallet through your Payz MasterCard. Whether you are hoping to carry out payments of up to €11,000 or withdraw up to €1,500 in cash for Gold status, your Payz MasterCard ensures the efficiency and security of every one of your transactions. You may also transfer funds in other currencies alongside a 2.99 % conversion fee or order an Virtual card for just € 1.80 to carry out a completely anonymous one-time purchase for as much as € 700.

You can easily double your Payz MasterCard limits by creating your Payz account via Baxity to benefit from instantaneous Gold status. Unlock higher caps for your shopping or ATM withdrawals to maximise on your transactions whenever you are using your Payz MasterCard.