- LiteForex card
LiteForex Group of Companies is pleased to offer a new, fast and secure way to transfer funds and make payments – it is the LiteForex Card, a prepaid card developed together with our partner Mayzus Financial Services Ltd.*
LiteForex Card – is a prepaid MasterCard®, which provides its owner with several advantages. It can be used as a regular debit card; however it does not require binding to a bank account and therefore credit checks are unnecessary. You can make payments in more than a hundred countries all over the world with the help of this card, wherever the trading brand MasterCard® is represented.
Why LiteForex Card?
The main advantages of our card are as follows:
- Credit history and credit checks are not required
- No chance of negative balance
- Transactions limited to $12000 per week
- No limit on annual balance
How does it work?
Just transfer money to your LiteForex Card! The card can be used wherever the brand MasterCard® is represented. You can only spend the funds transferred to the card, therefore no penalties for negative balances are incurred. You can withdraw money from LiteForex Card in any ATM/Cash machine where MasterCard® is represented. LiteForex Card can be used for online payments or for payments in shops or retail sales in any place where MasterCard® is accepted for payment.
How to order it?
To order a LiteForex Card, you need to log in to a Client’s Cabinet and fill in the form (Full verification of your Profile is a prerequisite for ordering a card). Once you read and accept the terms of the Agreement and pay costs for issuing and delivery of card, it will be issued and mailed to your address.
- $15 – delivery by normal mail - within 14 working days (This period is approximate and depends on the work of postal services)
- $65 – express mail delivery – within 5 working days
* For clients who wish to deposit an initial lump sum of more than $2500, normal mail delivery is free of charge.
For clients who wish to deposit an initial lump sum of more than $5000 (by any method), both delivery types are free of charge.
You should activate the card upon its receipt; enter the last four characters of the card number in your Client’s Cabinet. Following on-line activation by client the card is valid for use within 24 hours.
Please note that individuals under 18 are not eligible to open an account or file an application for a LiteForex Card.
Requirements for documents, uploaded to the profile for ordering LiteForex card
1. Documents must be in English, in case of being in another language they must be translated and notarized.
2. All documents must contain only the name of the applicant.
3. Documents must be colorful, full-sized and of good quality.
4. For name confirmation the applicant should upload legal government-issued, identifying document with the picture of the customer on it. It may be a government-issued passport, driver's license (for countries where the driver's license is a primary identification document) or local ID card (no company access cards). This document should be valid at least 6 more month after applying for the card. The document must also contain the date expiry.
5. For address confirmation the applicant should upload a bill with the customer's own name and actual address on it no older than 3 months. It may be a utility bill, bank statement, affidavit, or other bill with the name and address of the customer from an internationally recognizable organization (mobile phone bills can’t be accepted).
If the documents don’t meet the requirements at the time of making the order in the profile, the application for getting the card won’t be accepted by the issuer.
The processing of application and the issue of LiteForex card can take up to 14 working days, this time may also be increased if the client doesn't provide the documents, that meet the requirements.
LiteForex Card is issued by CSC24Seven.com Ltd (CSC), a financial company registered in Cyprus. The company’s activity is licensed.
1.1. CSC will debit any amount for any transaction from the Card.
1.2. Cardholder is responsible for payments made from his/her card, regardless of whether a voucher is signed or whether the funds are withdrawn.
1.3. Cardholder cannot withdraw funds which exceeds the amount of available fund balance.
1.4. Payment made with the help of the card is irreversible.
1.5. LiteForex is not liable if a third party refuses to accept payment, made from the card.
2. Reporting on Balance
2.1. Cardholder can request a report on the balance of the card through the Client’s Cabinet of LiteForex Group of Companies. The report will be forwarded to e-mail address of the cardholder.
2.2. If cardholder does not agree with any of the transactions he shall inform LiteForex Group of Companies within one month from the moment of a questioned transaction.
3.Fees and commissions
3.1. Issuer is liable to cancel some types of commissions (e g. payment for annual subscription).
4. Cardholder is liable
4.1. Cardholder agrees to take appropriate steps to keep secret the PIN code for the Card.
4.2. If the card is not delivered in the specified time Cardholder shall inform LiteForex Group of Companies. or the Issuer by e-mail to email@example.com or by telephone to +44 (0) 208 899 6970.
5.1. Funds will be reimbursed to Cardholder in the event if the exact amount of transaction was not specified during authorization.
Withdrawals from LiteForex Card
You can withdraw funds from LiteForex Card through a cash machine/ATM. Commission for cash withdrawal through cash machine/ATM amounts to 2% (minimum $3.00, maximum $15.00) for each transaction. It means that if you withdraw $100.00 through a cash machine/ATM you will get $100.00 cash.
LiteForex Card can also be used for online payments, or for payments in shops or any retail shopping whenever MasterCard® is accepted for payment. Commission for payment in the retail shops amounts to $0 for each transaction.
Withdrawal of funds from trading account utilizing LiteForex Card
You can withdraw funds from your LiteForex Group of Companies trading account with the help of prepaid LiteForex Сard, using your Client's Profile.
The funds deposited in American dollars (USD), Euros (EUR) via such payment systems as WebMoney, Perfect Money, LiqPay, OkPay, Bank Wire Transfer may be withdrawn to LiteForex Card® in American dollars (USD) according to the following conditions:
- the withdrawal total amount must not exceed $3000 pro month for one client;
- the period between a deposit via a payment system and a withdrawal to LiteForex Card must be at least 5 working days;
- the number of trading operations conducted in the period between a deposit via a payment system and a withdrawal to LiteForex Card must be at least 50.
Commission for transferring funds from your trading account to LiteForex Сard amounts to $3.00 regardless of the amount transferred. It must be understood that in this connection minimum amount of funds which can be transferred from the trading account to the card is $10.
Transaction Fees for LiteForex Card (Commissions)
1. Note: card is valid for 48 months from the date of issue.
|Transaction fees (US$)|
|Depositing money to the card||$3.00|
|Withdrawal through cash machine/ATM||2% (min. $3.00; max. $15.00)|
|Non-financial transaction (Card balance request, unconfirmed transaction)||$0.40|
|Exchange rates for a transaction in currency different from the Card currency||Current market rate|
2. If the Card is not used for 180 days, a monthly dormancy fee applies.
|Monthly dormancy fees (US$)|
3. Change of PIN code or card recovery: $15
4. Account closure: $15
5. Standard limits for the use of the dollar LiteForex Cards:
|Minimum required balance||$10.00|
|Daily cash machine/ATM transactions
||$2,000.00 (up to three withdrawals)|
|Weekly cash machine/ATM transactions||$5,000.00 (up to 11 withdrawals)|
|Daily Point of Sale(POS) transactions||$3,000.00 (up to 8 transactions)|
|Weekly transactions||$12,000.00 (up to 40 transactions)|
*Daily limits are set every 24 hours weekly –each transaction is set to zero after 7 days of transaction.