Bybit Cardholder Terms & Conditions (AIFC)

IMPORTANT INFORMATION:

This Agreement relates to the Programme. Please read the terms and conditions of this Agreement carefully before applying for Your Account and Card with the Programme. This Agreement and its terms and conditions, as may be amended from time to time on notice by Us, becomes effective and binding on Your successful application and activation or use of Your Account and/or Your Card and for the entire period of validity of Your Account and Card.

 

The terms and conditions apply to the Programme, which consists of the Account and Card issued to You by the Issuer and operated by Programme Manager (together “We”, “Us” or “Our”). The Account and Card enables You to use the assets held in your Bybit Wallet to fund the purchase of goods and services online or at a point of sale and withdraw cash at relevant ATMs. The total assets in your Bybit Wallet that are available for financing of the Card transactions is your Available Balance.

 

 

1. PROGRAMME AND PROGRAMME MANAGER INFORMATION

1.1. The Programme Manager is Bybit Limited, a private company, duly incorporated in Kazakhstan under the laws of the Astana International Financial Centre (“AIFC”) and having its registered office at Z05H9M1, Esil district, Street Dostyk 5, office 199, Astana, Kazakhstan. Bybit Limited is authorised by the financial regulator of the AIFC, Astana Financial Services Authority (“AFSA”), to conduct the activities of Operating a Digital Asset Trading Facility under Licence Number AFSA-G-LA-2023-0004 with expiry date of June 6, 2025 and Providing Custody under the Licence Number AFSA-G-LA-2023-0003 with expiry date of June 6, 2025 in a testing environment of FinTech Lab* (AIFC regulatory sandbox). Status of the licences and its validity may be verified at the AFSA website (www.afsa.kz).

 

1.2. The Bybit Card is issued by Card Issuer pursuant to a licence by Mastercard International. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

 

1.3. The Programme enables access to relevant assets held in Your Bybit Wallet, which could be used to fund purchase of goods and services online or at a point of sale and cash withdrawal transactions. Any excess funds (e.g. as a result of a refund provided by a Merchant) will be returned to your Bybit Wallet automatically.

 

1.4. Bybit Limited is the operator of Bybit Wallet, and with whom you have entered into separate terms and conditions governing the use of Your Bybit Wallet.

 

 

2. FEES AND CHARGES

2.1. ​​​​​All Fees and Charges relating to the Programme are detailed in the Fees and Limits Schedule to this Agreement. Fees will be deducted from Your Account balance automatically.

 

2.2. If You make a transaction that requires one or more currency conversions, the Programme will charge You a foreign exchange fee which is detailed in the Fees and Limits Schedule to this Agreement. Where applicable, the exchange rate will be made at a wholesale market rate or government mandated rate, at their discretion, with an additional percentage fee applied by the Scheme. Changes in the wholesale exchange rates may happen immediately without notice to You.  Bybit may charge you additional fee for conversion of any cryptocurrency based assets held in Your Bybit Wallet into fiat currency.

 

 

3. APPLYING FOR AN ACCOUNT AND CARD

3.1. ​​​​To apply for and use an Account and Card related to the Programme, you must be at least 18 years old, a Bybit Wallet holder, and not reside in any prohibited jurisdictions. You can apply for an Account and Card on the Website or App through your Bybit Wallet account. 

 

3.2. Provided the Programme has been able to undertake KYC to a satisfactory standard as per the Programme AML Policy, You shall receive an activation confirmation by Your email or on Your App and You will be able to use the Account.

 

3.3. ​​​​​​When applying for an Account on the Website or App, You will need to log in under your Bybit Wallet username and password. You will need this username and password (collectively Your “Security Details” for the Account) to access Your Online Account and perform the following functions (as well as any other functions specified in the Website or App) in relation to Your Card online:

1. change Your telephone number;

2. check Your Available Balance;

3. check Your Transaction Details; and

4. change Your Password.

 

3.4. You may apply for a Card (virtual Card by default, and physical Card if available in your region) for Your Account and each shall constitute a ‘Card' for the purpose of these Terms and Conditions. The Card is a debit card that can only be used to access assets in Your Bybit Wallet. It is not a credit card, charge card or guarantee card and is not attached to a bank account.

 

3.5. ​​​​​​​A virtual Card is issued immediately on approval of Your application for a Card. We will endeavour to send any physical Card applied for to You within four business days (4) days of approval, however, please be aware that in some instances it can take longer for Your Card to arrive.

 

3.6. You can apply for one (1) virtual and (1) physical Cards for Your Account.

 

3.7. ​​​​​​​If You receive a physical Card You must sign the signature strip on the back of the Card as soon as You receive it and then follow the instructions on the App to activate it. You will be required to set PIN for the physical Card through the App.

 

 

4. ACCOUNT AND CARD LIMITS, LOADING, USAGE AND AUTHORISATION

Access to Assets

4.1. Transactions through Your Account and Card are financed solely by the assets maintained in Your Bybit Wallet. You hereby agree and authorize the Programme and Bybit Limited to access those assets to finance all transactions performed through your Card.

 

4.2. ​​​​At the time of the transaction, the Programme will instruct Bybit Limited to liquidate the assets up to the amount of the Transaction in Your Account currency. Bybit shall transfer the proceeds of such liquidation to the Programme in order for Transaction to be approved. Bybit will determine the list of assets that are available for such financing of transactions and allow you to specify the order in which they will be used. Bybit will also determine the exchange rate for such assets into the currency of Your Account.

 

4.3. ​​​Any funds that have been transferred by Bybit Limited to the Programme, and that have not been spent shall be E-Money. Such excess funds that are accumulated on Your Account within the Programme (such as due to refund provided by a merchant, or authorization being cancelled or not fully utilized by a merchant) will be automatically returned to Your Bybit Wallet within one Business Day after they are credited to Your Account.

 

4.4. ​​​​​​​The Programme reserves the right to request further KYC documents and verification of Your source of funds at any point.

 

Usage / Redemption

4.5. You can use Your physical Card with Your PIN to withdraw cash from ATMs and at bank counters (where the bank permits it) or to buy goods and services online or at a point of sale at any Merchant who accepts the Scheme. A withdrawal fee may apply to withdrawals as set out in the Fees and Limits Schedule to this Agreement.

 

4.6. You must always ensure that You have a sufficient Available Balance for each Transaction You authorise (including value added tax and other taxes, duties and applicable fees as set out in the Fees and Limits Schedule to this Agreement). If the Available Balance is insufficient to pay for a Transaction, and the Merchants does not permit You to combine the use of Your Card with other payment methods, the transaction will be declined.

 

4.7. If for any reason a Transaction is carried out but its amount exceeds the Available Balance, You must pay us the deficit immediately, and if You fail to do so after receiving a notification from us, We reserve the right to terminate this Agreement between us and take all necessary steps, including legal action, to recover this deficit.

 

4.8. ​​​​​​​There are certain circumstances where a Merchant or the Programme may require You to have an Available Balance greater than the value of the Transaction You wish to make. However, You will only be charged for the actual and final value of the Transaction. Merchants may request this as they may need to access more funds than You initially planned to spend (“the relevant funds”) for example, when making hotel or car rental reservations. In the event that a Merchant has prior authorisation on Your Card, You may not have access to the relevant funds until the Transaction is completed or, if sooner, up to a period of 30 days. However, the Programme will only block access to the exact amount of funds authorised by You, unless Programme will increase such amount to protect against possible foreign exchange fluctuations or a customary increase in the amount being captured from a particular merchant category.

 

4.9. Your Card cannot be used where such Merchants are unable to obtain online authorisation that You have sufficient Available Balance for the Transaction (for example, Transactions made on trains, ships, some in-flight purchases and at tollbooths). We accept no liability if a Merchant refuses to accept payment using the Card.

 

4.10. ​​​​​​​Your virtual Card cannot be used to purchase an item online that subsequently requires presentment of a physical card in order to obtain that item (i.e. certain theatre ticket purchases, hotel stays and car rentals).

 

4.11. When You use Your Card to pay for goods and services, You may need to enter Your unique PIN. Once Your PIN has been accepted the transaction or ATM withdrawal cannot be cancelled by the Programme.

 

4.12. ​​​​​​​When entering into Transactions over the internet, some websites may require You to enter Your Personal Details and, in such instances, You should supply the most recent Personal Details that You have provided the Programme with via the Website or App.

 

Limits / Declines

4.13. Transactions are subject to limits and compliance with the Fees and Limits Schedule to this Agreement. You can also view the limits applicable to Your Card in Your Account.

 

4.14. ​​​​​​​We may decline a transaction, place restrictions on Your Card or apply special security procedures in respect of transactions if:​​​​​​​

1. You do not have an Available Balance or sufficient Available Balance for the transaction attempted;

2. The transaction will take You over the Card limits which can be found in the Fees and Limits Schedule to this Agreement;

3. To protect the security of Your Card, Account, Security Details or personal data;

4. If we believe a transaction is unauthorised or illegal or poses a high risk of being unauthorised or illegal;

5. We reasonably believe the transaction would be in breach of the n the Fees and Limits Schedule to this Agreement, or this Agreement; or

6. The transaction and applicable fees will cause Your Account to go into a negative balance.

 

4.15. ​​​​​​​Payments using Your Card for any transaction made in a currency other than supported currencies, will be subject to Scheme acceptance terms, Scheme conditions and Scheme fees.

 

4.16. Any refunds for goods and services purchased with Your Card will be made in accordance with the refund policy of the Merchant. Once the Programme receives the funds, the Programme will return relevant funds to your Bybit Wallet within one Business Day, subject to risk management procedures.

 

Authorisation

4.17. ​​​​​​​You will need to give Your consent to each Transaction so that the Programme can check it is genuine by, where applicable, a) using Your PIN or other Security Details personal to You; b) signing a sales voucher; c) providing the Card details and/or providing any other details personal to You and/or Your Card. Once You have given such consent to the Transaction, it will be deemed to be authorised.

 

4.18. ​​​​​​​The time of receipt of a Transaction order is when the Programme receives it. If a Transaction order is received after 4pm on a Business Day, then it will be deemed to have been received on the next Business day.

 

4.19. Once a Transaction has been authorised by You and received by the Programme, it cannot be revoked.

 

4.20. ​​​​​​​Certain Merchants may not accept payments made through the Card and the We accept no liability for this: it is Your responsibility to check the restrictions of each Merchant.

 

4.21. Your ability to use or access the Card may occasionally be interrupted, for example if the Programme needs to carry out maintenance on its systems or websites. Please contact Customer Services to notify the Programme of any problems You are experiencing using Your Card or Account and the Programme will try to resolve these as soon as possible.

 

 

5. KEEPING YOUR ACCOUNT, CARDS AND PIN SAFE

5.1. You are entirely responsible for Your Account, Security Details for Your Account, Card, PIN and must take all possible measures to keep them safe and entirely confidential. You should not share any details of Your Account or Card with anyone else, other than for the purpose of authorizing a Transaction.

 

5.2. PIN for use with Your physical Card can be set through the App.  You will need this PIN in order to make cash withdrawals from an ATM or at a bank or occasionally for making transactions.

 

5.3. Keep Your PIN safe, by memorising it, never disclosing it to anyone, or by letting anyone see You enter it. We recommend You do not write it down. If You do write Your PIN down or disclose it to any other individual, You may be held liable for any unauthorised or fraudulent transactions made using Your Card.

 

5.4. If You suspect that someone else knows Your PIN for Your Card or Security Details for Your Account, change them as soon as possible in Your Account or on the App. If You are not able to do so, please contact Us immediately to discuss.

 

5.5. You should check recent transactions and monitor the transactions history of Your Account regularly. If You do not recognise a transaction, then report it immediately (see below for reporting).

 

5.6. You must not give Your Card to any other person or allow any other person to use it. You may be held liable for any unauthorised or fraudulent transactions made using Your Card.

 

5.7. Once Your Card has expired or if it is found after You have reported it as lost or stolen You must destroy it by cutting it in two through the magnetic strip and chip, and disposing of it securely.

 

5.8. We reserve the right to require You to register for, and/or use enhanced online transaction security systems for customer authentication, which may include a one-time password as well as other third party authentication.

 

5.9. Failure to comply with this Clause may affect Your ability to claim any losses in the event that we can show that You have intentionally failed to keep the information safe or You have acted fraudulently, with undue delay or with gross negligence.

 

 

6. REPORTING PHYSICAL CARDS LOST OR STOLEN

6.1. If Your physical Card is lost or stolen You must report it immediately by logging into Your Account and using the online facility (You may also report it through the App or approaching Customer Service through other channels such as chat or email). We will take immediate action to protect the money in Your Account. Alternatively, You can temporarily block the Card at any time by logging into Your Account and using the “freeze” functionality.

 

6.2. If there is Available Balance on Your Bybit Wallet after blocking the Card on Your account, the Programme will cancel Your Card and issue a new Card to Your current address within seven days. A Card replacement fee will apply as set out in the Fees and Limits Schedule to this Agreement.

 

6.3. You agree to cooperate with Our agents, any supervisory or regulatory authority, the police and Us if Your Card is lost, stolen or if we suspect fraudulent use of the Card.

 

6.4. Failure to comply with this Clause may affect Your ability to claim any losses in the event that We can show that You have intentionally failed to keep the Security Details safe or You have acted fraudulently, with undue delay or with gross negligence.

 

 

7. REPORTING UNAUTHORISED TRANSACTIONS OR DISPUTED TRANSACTIONS

7.1. If You believe that any of the transactions on Your Card were unauthorised or incorrectly posted to Your Account, You must notify Customer Services as soon as You become aware but not later than 13 months of the date of the debit to Your Account. If the Transaction is one where the exact amount of the transaction was unknown at the time of authorisation (e.g. car rental or a hotel reservation) and the transaction amount appears incorrect, You must notify Customer Services within eight (8) weeks of the date of the debit to Your Account.

 

7.2. Unless the Programme has reason to suspect fraud by You, or that You have failed to comply with these Terms and Conditions, or the Account Terms with intent or gross negligence the Programme will refund the amount of the unauthorised or incorrect transaction(s) as soon as practical.

 

7.3. Where You have made an authorised Transaction but have a dispute with the merchant, the Programme will require You to provide written confirmation of the disputed transaction within 120 days of the Transaction date. The written confirmation should be sent to Customer Services using the contact form which can be found on the Website and in the App. Alternatively, You can contact Customer Services, through chat or email, to request a form to complete.

 

7.4. If:

1. We do not receive written confirmation; or

2. a refund is made in respect of a transaction that later turns out to be genuine,

 

the Programme will re-deduct the amount of the transaction from Your Account plus, in the event of 7.4(b) only, You will be charged a fee as set out on in the Fees and Limits Schedule to this Agreement. Please note that any cash withdrawals will not be covered under the Scheme regulations.

 

7.5. In the event that a Transaction is made which is initiated by Merchant, we will provide a refund of that amount, subject to this Clause, only in circumstances where You can prove that:

1. the exact Transaction amount was not specified when You authorised the payment; and

2. the amount of the Transaction exceeds the amount that You could have reasonably expected, taking into account Your previous spending pattern, the terms of this Agreement and the relevant circumstances of the case.

 

7.6. The refunds referred to above will not be provided if:

1. the amount relates to currency exchange fluctuations; or

2. You have given Your consent to execute the Transaction directly to us; or

3. information on the Transaction was provided or made available in an agreed manner to You at least 4 weeks prior to the due date of the Transaction; or

4. You request the refund from us later than 8 weeks from the date on which it was debited.

 

7.7. If investigations performed by the Programme show that there have been unauthorised or incorrectly executed Transactions on Your Account then, provided that Your claim is made within the time limits specified in this Clause, You will not be liable for such transactions.

 

 

8. PAYMENT DISPUTES

8.1. If You dispute a Transaction that You have authorised and which has been processed on Your Card, You should settle this with the person You bought the goods or services from; the Programme is not responsible for the quality, safety, legality or any other aspect of goods or services purchased with Your Card.

 

8.2. If Your dispute with a Merchant relating to a Transaction cannot be resolved You should contact Customer Services, for the Programme to attempt to assist You as far as is reasonably practicable.

 

8.3. If You have reason to believe that a Transaction was carried out without Your consent or in error, You may ask the Programme to investigate the Transaction by contacting Customer Services.  If the Programme investigates the Transaction, the disputed amount will be unavailable to spend until our investigation is complete and if the Programme receives information that proves the Transaction was genuine, this will be deducted from Your Available Balance and the Programme may charge You an investigation fee as set out in the Fees and Limits Schedule to this Agreement. If You do not have sufficient Available Balance for the Transaction or the investigation fee, You must repay the Programme the amount immediately on demand.

 

 

9. FOREIGN EXCHANGE

9.1. If You use Your Card in a currency other than the currency in which Your Card is denominated, the amount deducted from Your Available Balance will be the amount of the Transaction converted to Your Account currency using a rate set by the Scheme. You may also be charged a foreign exchange Fee as set out in the Fees and Limits Schedule to this Agreement. In order to allow You to compare charges for currency conversion, You can view the real-time percentage difference between the amount that will be charged on Your Card for a foreign currency transaction (consisting of the mark-up applied by the Scheme as well as any other charges) and the latest available euro foreign exchange reference rates issued by the European Central Bank.  You can view this information on the Website.

 

 

10. ADVISING CHANGES OF PERSONAL DETAILS OR FINANCIAL SITUATION

10.1. If You change name, address or contact details such as telephone number or e-mail address You must notify the Programme within 14 days of the change.

 

10.2. The Programme reserves the right at any time to perform checks to confirm that the personal details You provide are accurate (for example, by requesting relevant original documents), including for the purposes of preventing fraud and/or money laundering. In addition, at the time of Your application or at any time in the future, in connection with Your Account, You authorise the Programme to undertake electronic identity verification checks on You either directly or using relevant third parties.

 

10.3. It is also important to notify the Programme without delay of any changes to Your circumstances that may affect the running of Your Account or Your Card, by contacting Customer Services (details below).

 

 

11. WHAT WILL HAPPEN WHEN YOUR CARD EXPIRES

11.1. You will not be able to use Your Card following its Expiry Date.

 

11.2. Physical Cards and virtual Cards may be automatically renewed at the Programme's discretion. Unless requested otherwise, this will be on the same pricing as set out in the Fees and Limits Schedule to this Agreement as the expiring Card.

 

 

12. USE OF YOUR PERSONAL DATA

12.1. The Programme is a data controller of personal data provided in connection with the Programme, Your Account and Card and, where You consent, Information on how the Programme uses and protects Your personal data is available in the Personal Data Protection Policy on the Website. The Issuer is a joint controller of personal data provided in connection with the Programme.

 

12.2. Information on how Your personal data is used by the Programme is set out in this section.

 

12.3. The Programme may use third parties to process personal data on Our behalf. Such third parties may include creditors or potential transferees of rights and obligations under this Agreement.

 

12.4. The Programme will process and retain personal data in order to open and administer Your Account and Card, to deal with any enquiries You have about it and comply with regulatory obligations. The types of personal data processed are likely to include, but is not limited to, name, address, date of birth, contact details, financial information, employment details and device identifiers.

 

12.5. If the Programme suspects that it has been given false or inaccurate information, it may record that suspicion together with any other relevant information. Decisions may be made by automated means.

 

12.6. If illegality is identified, Programme may pass details to the Issuer and governmental authorities in Kazakhstan and AIFC Authority and AFSA. In addition, the Issuer and governmental authorities in Kazakhstan and AIFC Authority and AFSA may request, access and use this information in order to detect, investigate and prevent crime.

 

12.7. The Programme and other organisations may also access and use this information to prevent fraud and money laundering. When the Programme, Issuer or governmental authorities in Kazakhstan or AIFC Authority or AFSA process Your personal data, it is done so on the basis of a legitimate interest in preventing fraud, money laundering, and to verify identity. These processes are carried out in order to protect the Programme, the Issuer, other customers, and to comply with regulatory requirements.

 

12.8. Please contact Customer Services if You want to receive details of relevant governmental authorities in Kazakhstan and/or AIFC Authority and/or AFSA and/or contact the Programme's Data Protection Officer.

 

12.9. The Programme and other organisations may access and use the information recorded by governmental authorities in Kazakhstan and AIFC Authority and AFSA.

 

12.10. The Programme may check all personal information given by You with governmental authorities in Kazakhstan and AIFC Authority and AFSA and other organisations. For the purpose of enabling use of Your Card, the Programme may also use information about any device, computer, network and browser You use.

 

12.11. Personal data may also be transferred confidentially to other organisations within the Issuer's group of companies and to relevant third parties so that the Programme can manage Your Card.

 

12.12. You can also obtain any details of the information the Programme and We hold about You and/or, details of any other person to whom the Programme and We may pass Your information (where the Programme and We are not prevented by law), by writing to Customer Services. You have a legal right to these details (in most circumstances) and, where applicable, to object to the Programme and Us processing Your personal data and/or request that Your data is corrected or erased.

 

12.13. The Programme and We reserve the right to process data in countries outside the Kazakhstan, however the Programme and We will ensure adequate protection for personal data transferred to countries outside the Kazakhstan as required by data protection legislation of the AIFC.

 

12.14. To facilitate the processing of payments, the Programme and We may share Card Usage information with specified third parties strictly in accordance with any applicable legislation, relating to the receipt and dispersal of government benefits.

 

12.15 You have the right to:

1. know more about the information the Programme and We pass to third parties or that is held by governmental authorities in Kazakhstan, AIFC Authority and AFSA, or to obtain a list of the third parties with whom the Programme and We share information;

2. receive details of the personal data the Programme and We hold about You.

3. receive a copy of this Agreement and the terms and conditions contained herein at any time, a copy of which will be made available on the Website.

 

 

13. THE LAW THAT APPLIES & ASSIGNMENT

13.1. This Agreement is governed by Acting Law of the AIFC.

 

13.2. You agree to the non-exclusive jurisdiction of the AIFC Court.

 

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