GENERAL TERMS AND CONDITIONS OF USE AND ISSUANCE OF VISA BUSINESS
CARDS FOR LEGAL ENTITIES SEGMENTED AS SMALL BUSINESS BANKING AND
ENTREPRENEURS
DEFINITIONS
The terms used in the General Terms and Conditions of Use and Issuance of Visa Business Cards for Legal Entities segmented as
Small Business Banking and Entrepreneurs (hereinafter referred to as: the General Terms and Conditions) have the following
meaning:
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Client – means a legal entity segmented as Small Business Banking or Entrepreneur, to whom the Bank approved issuance
and use of VISA Business card and who concluded the Agreement on issue and use of VISA Business Card.
User – means am employee of the Client to whom VISA Business card is assigned by decision of the client’s authorized
person.
Card – means VISA Business card, payment instrument which allows its holder to pay for goods and/or services at sales
points or remotely and/or to withdraw cash and/or use other service on the ATM or any other device. VISA Business card is
a debit payment card.
Payment card number – means a number which unambiguously defines payment card issuer and payment service user,
which consists of 16 figures personalized on the front side of payment card (face of the card).
PIN (Personal Identification number) – means personal identification number of the payment service user assigned
electronically under strict, safe conditions. Issued by the Bank, payment card issuer, with payment instrument. It is known
solely to the user and is strictly confidential, and it is used to identify the card user and authorize payment transactions
which require identification and authorization by PIN.
Signature - is used to authorize payment service in payment transactions which requires identification and authorization by
signature.
Card validity period – Period during which payment card may be used to withdraw funds from the account and which is
always defined as the last day of the month set as the card expiration date on the card.
Authentication – means a procedure which includes identification and verification of user’s identity, i.e. providing
authorization/consent for execution of payment transaction, and which allows the Bank to track use of particular payment
card, including check of its security features. Personalized security information – data contained on the card about its issuer
which allows identification of the card user, such as: name and surname on the card, payment card number, control number
on the back of the card, card expiration date, PIN, card user’s signature on the card
ATM – electronic device used for execution of payment transaction, such as cash withdrawal and check of user’s account
balance, as well as for other services which will be made available by the Bank on particular devices.
Sales point – business entity authorized to accept payment card as a non-cash mean of payment for goods and services
Online sales point – retail location on the Internet which accepts payment card as non-cash mean of payment for the
Internet only
Cash withdrawal point – business entity authorized to accept a card in order to provide cash withdrawal service on POS
/EFTPOS device
Card user’s payment scheme – set of functions, procedures, rules and devices which allow the card user to execute a
payment transaction and/or withdraw cash from the payment service provider. The Bank issues VISA Business payment
cards within payment scheme Visa International.
RECITALS
These General Terms and Conditions are considered specific in comparison to the General Terms and Conditions for Provision of
Payment Services to Legal Entities segmented as Small Business Banking and Entrepreneurs, and they regulate rights and
obligations of the Bank in terms of provision of services related to VISA Business Card.
These General Terms and Conditions, along with the General Terms and Conditions for Provision of Payment Services to Legal
Entities segmented as Small Business Banking and Entrepreneurs, are an integral part of the Agreement on issue and use of VISA
General Terms and Conditions for issue and use of VISA Business Cards for legal entities segmented as Small Business Banking
and Entrepreneurs
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Business Card (hereinafter referred to as: the Agreement).
Where an irreconcilable conflict exists among the provisions of the Agreement, theses General Terms and Conditions and
provisions of the General Terms and Conditions for Provision of Payment Services to Legal Entities as Small Business Banking and
Entrepreneurs the earliest mentioned item in this sentence shall control over any later mentioned item or items.
By signing the Agreement, the Client declares that it have read these General Terms and Conditions and the General Terms and
conditions for Payment Services to Legal Entities as Small Business Banking and Entrepreneurs and that it agrees to all rights and
obligations provided under them.
CARD ISSUING
VISA Business is issued to resident legal entities segmented as Small Business Banking and Entrepreneurs, i.e. to employees of
these Clients. The authorized representative of the Client shall decide which employee shall receive a VISA Business card.
The conditions of issuing the VISA Business card are defined in acts of the Bank.
The Bank and the Client conclude the Agreement on issue and use of the VISA Business Card.
The Bank issues VISA Business card with validity period of 36 months, which can be used until the last date of the month
specified on the card.
CRAD REISSUING
The Bank reissues VISA Business cards based on criteria defined in its acts.
Validity period of the card reissued by the Bank is 36 months, as well.
HANDOVER OF CARD AND PIN
Card and PIN may be collected:
- Personally by the Card user – at the Bank, where it receives its VISA Business card and related PIN (Personal
identification number), with the obligation to sign Certificate of receipt and sign the card in appropriate place on the
back of the card, with a ballpoint pen. Card which is not signed is not valid.
- By Client’s authorized representative – at the Bank, where it receives all VISA Business cards and related PINs, with the
obligation of signing Certificate of receipt on behalf of all card users. The authorized representative is informed that all
card users must personally sign their cards at appropriate place on the back of the card, with a ballpoint pen. The Client
shall be liable and bear all consequences if the users fail to sing the cards. A card which is not signed is not valid.
Personal identification number (PIN) is selected electronically under strict, secure conditions. A PIN may be used only with
related card, i.e. with the card for which it is issued.
Card use is limited by card validity period.
CARD USE
In order to ensure safe card operations, the User shall keep the card safe and use it responsibly, in accordance with these
General Terms and Conditions.
The card is not transferrable and can be used only by the person whose name is printed on the card.
A card may be used domestically or abroad on ATMs, cash withdrawal and sales points marked with VISA logo, in accordance
with the Agreement concluded with the Bank.
The manner of giving consent for execution of payment card order:
The User can give consent for payment transactions in any of the following ways:
– by inserting and using the Card on the ATM and by entering the PIN;
– by giving or inserting the card at EFT=POS terminal or self service device at the sales point, or cash withdrawal point, and,
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depending on the functionality (EFT-POS terminal/ self service device– card) by confirming the transaction with or without entry
of PIN and /or signature which must be identical to the one provided on the back of the card;
– by entering and giving personalized security information of the card when paying online, through catalogue or phone sales.
The receipt is issued at the sales point and it should be signed by the Card user. The signature on the receipt must be identical to
the signature on the back of the card. The card acquirer (vendor) shall issue a copy of the receipt/slip for the transactions made
to the User. The User shall, as a confirmation of the transaction made, keep the copy of a receipt/slip for its record and for
possible complaint.
Rules from the previous paragraph do not apply in case of electronic purchase, through the Internet or other cases of purchase
via catalogue and phone. In these cases the card is not physically present and the User does not sign the receipt.
Due to frequent frauds, this type of purchase is not recommended to card users.
The card user shall, at the request of the vendor at the sales point, provide its identification document (ID card, i.e. passport).
Electronic records from POS terminals (receipts) are a proof of executed transaction.
Receipt from ATM/POS terminal on the counter is a proof on performed withdrawal. Entering the PIN on the ATM is equivalent
to the signature of the card user.
Number of allowed unsuccessfully entered PINs is limited to 3 (three). After third unsuccessful entry of PIN, ATM keeps the card,
and it is temporarily blocked and the Client must contact the Bank in order to unblock and receive the card.
The Client shall, at the request of the card acquirer (vendor) or other bank, submit the card with denied right of use.
Use of the card may be impaired or impossible on electronic readers (ATM, POS, etc) if the Client stored card in inappropriate
manner (physical, thermal or magnetic damage). The Bank shall not be liable for any of these cases, and costs of producing the
duplicate card shall be borne by the client, in accordance with the List of Fees for legal entities segmented as Small Business
Banking (hereinafter referred to as: the List of fees).
ADDITIONAL SERVICES
When away on a trip, the Card user may contact our Global Customer Assistance Service (hereinafter referred to as: the GCAS) to
report lost or stolen card. Operators our available to customer 24 hours a day, 365 days a year.
Also, operators may inform the User on the closest VISA bank or VISA ATM and other information related to the use of VISA
Business card.
VISA International has agreements with sales points all over the world (hotels, restaurants, travel agencies, retail stores, rent-acar) on discounts for card users acquired when paying by card.
Information on worldwide sales points which offer discounts are available on the website: www.VISA.itptravel.net
Other services are offered to the card user, such as emergency card replacement and emergency cash advances in case of lost or
stolen card anywhere in the world.
CARD LIMIT
Domestic card use is limited by available funds which are equal to the available funds on dinar current account and unutilized
amount of overdraft (if agreed), as well as by daily risk levels defined for each card. Daily risk level categories are defined based
on criteria set forth in the acts of the Bank.
VISA Business card can be used domestically to pay for goods and services and at POS Terminals or for cash withdrawal on
ATM/POS terminal on the counter.
Use of VISA Business card abroad is possible up to the available balance of purpose foreign currency account of the Client.
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Funds from the purpose foreign currency account of the Client may be used exclusively for expenses related to business trips
abroad (payment for goods and services on POS terminals or cash withdrawal on ATMs).
EXECUTION OF TRANSACTIONS
Orders made by VISA Business card of the client for domestic transactions are executed by the Bank by direct debit of dinar
current account. The Client shall make funds available on the account for execution of the order.
orders mad by VISA Business card of the Client, for transactions performed abroad, are executed by the Bank by direct debit of
purpose foreign currency account. The Client shall make funds available on the account for execution of the order.
For transactions made abroad, in the currency other than EUR, client’s purpose foreign currency account shall be debited in EUR.
Conversion of currencies to EUR is performed at exchange rate of card company Visa International available at the website
http://www.visacemea.com/rs/exchange_rates.jsp, on the date when the Visa International processes the transaction.
Transaction processing date must differ from the transaction date. When selecting card currency on the abovementioned
website, you should select EUR, and when selecting transaction currency you should enter currency in which transaction is
performed. The Bank does not charge any fees for currency conversion. Visa International automatically converts original
currency to EUR at the abovementioned exchange rate and sends EUR debit to the Bank.
If there are no sufficient funds to cover and execute the order available on the accounts of the Client, the Bank shall make
payment from its own funds, and debit the Client for past due receivable.
The Bank calculates and charges interest, provided by List of Fees, to past due dinar and foreign currency liabilities of the Client.
NOTIFICATION OF THE CLIENT
The Bank notifies the client on transactions made by VISA Business cards of the Client – domestically and abroad, as well as on
liabilities of the Client on that matter, by submitting the report – statement on balance and changes of the Client’s accounts, i.e.
by any other appropriate report. Statement – Report is submitted after the order has been executed and at least once a month,
in appropriate manner.
The report is not submitted is there were no transactions through VISA Business cards during the month.
COMPLAINTS
The Bank is responsible for handling complaints related to payment card operations. Client’s authorized representative shall
submit all complaints to the Bank in writing and by completing appropriate form.
Period for submission of complaints is 7 days from the date Bank’s report is received.
The Bank is not liable for the quality of goods and services which the user paid by card. The User will complain about any
misunderstanding to the merchant and the Client must settle the obligations regardless of the dispute between the card user
and the merchant.
The Bank has no material liability for possible damages arising from purchase through electronic transaction over the Internet
and via catalogue or telephone sale.
Costs of unfounded complaint are borne by the Client in accordance with the tariff provided by acts of the Bank.
The Client shall keep a copy of receipt/slip as a proof of performed transaction and for the purpose of possible complaint.
Complaints related to expenses paid by card do not exclude the liability of the Client for payment of such expenses, but if
complaints are grounded and approved, refund of the amount of disputed transaction to the Client’s account shall be made.
Complaints are considered ungrounded and rejected, if they are arising from use of the card contrary to the provisions of the
Agreement and legal regulations. Costs of unfounded complaint are borne by the Client in accordance with the List of Fees.
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The Bank shall not be liable for money the Client forgot at the ATM, if transaction is found to be regular.
The Bank is not liable for the quality of goods and services which the User paid by card. The User shall make a complaint
immediately at the sales point and settle its liabilities to the Bank, regardless of the dispute at the sales point.
SAFETY OF THE CARD AND DATA
The user shall keep card safe, be aware of its location, and memorize and destroy the PIN after receiving it.
The User shall keep its PIN secret and it shall only be used by the card user. PIN must not be written on the back of the card,
paper, any documents user carries around, etc.
The User must be present when goods and services are paid by card.
Any financial losses arising from careless use of the card are borne by the User.
DISAPPEAREANCE, LOSS OR THEFT OF THE CARD
Authorized person of the Client shall report disappearance, loss, theft or other misuse of payment card to the Bank as soon as
possible to the phone number 021/520333 and request its blockade, and the Bank shall be available for reception of such report
at any moment.
The report must be confirmed in writing, on the appropriate form, within 2 days from the day of filing phone report to the Bank.
The form must be signed by the authorized person of the Client.
If it is suspected that the card is stolen, the authorized representative of the Client shall report theft to the nearest police
station.
Any possible material damages, occurred before reporting disappearance, loss, theft or other misuse of the card, shall be borne
by the client.
The Client bears material damages up to the amount of 200 EUR for the costs abroad or dinar equivalent for domestic costs from
the moment disappearance, loss, theft or other cad misuse is reported.
The Bank shall announce the card invalid from the date notice on disappearance, loss, theft or other card misuses is reported, on
all electronic safety systems and in Warning Bulletin and notify all sales point on the matter, and all costs shall be borne by the
User, in accordance with the List of Fees.
If the user finds the card after the report is filed, it must not use it, but instead immediately return it to the Bank for cancellation
(vertically cut, across magnetic stripe). Otherwise, the Client bears full legal liability for unauthorized use of the card.
After receiving a written report on loss, theft or other misuse of the card, the Bank shall announce the card invalid and issue a
new card to the Client, except otherwise requested by the Client.
The Client shall bear all losses arising from the transaction which includes its fraudulent activities, and shall also bear loses
arising from its failure to comply with obligations under terms and conditions of issue and use of the card, obligation to
immediately notify the Bank on loss, theft of misuse of the card and obligation to adequately keeps its personal identification
number.
CLIENT’S LIABILITY
The Client shall provide written notification to the Bank on all status changes, as well as on change of address and contact
person (including, but not limited to, address last submitted to the Bank, telephone number, cell phone number, email, etc). The
client guarantees for completeness and correctness of all submitted contact information. Otherwise, it shall be liable for all
damages the Bank or the Client could suffer due to failure to provide a report to the bank.
The Client shall ensure safety of the card and data, as well as proper card use, which specifically includes the following:
a)
b)
The User shall keep the card safe, be aware of its location, and memorize the PIN and destroy it after collection;
PIN should be kept secret by the User and used only by it;
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c)
d)
e)
PIN must not be written on the back of the card, paper, documents the client carries around, etc;
the User must be present during payment for goods and services;
the Client shall keep record of the Card transactions, as well as the balance on the related account.
Liability for damages resulting from careless use and improper keeping of the card, and all relevant card information, as well as
for all related costs, shall be borne by the Client.
The Client shall not use the Card for any illegal activities, including purchase of illegal goods and services. By accepting these
general terms and conditions the Client assumes liability of illegal card purchase.
All damages arising from failure of all Users to comply with these General Terms and Conditions shall be borne by the Client
which concluded the agreement with the Bank.
TEMPORARY SUSPENSION OF CARD USE
If the Client fails to settle its dinar and foreign currency liabilities to the Bank within 5 days, the Bank is entitled to temporariliy
suspend card use until all liabilities have been settled.
If the Client still fails to settle its due liabilities, the Bank shall activate available security instrument for collection of due liabilities
of the Client within 30 days.
The Bank has the right to temporarily block Card use at any time and if conditions are met, and particularly the following:
a)
b)
c)
e)
if incorrect PIN is entered three times in a row;
In case of unauthorized overdraft or blockade of the account related to the card;
If unauthorized or fraudulent card use is suspected
In other cases significant for Bank’s safety or to mitigate risks of parties
The Bank may re-allow use of the payment instrument or replace it with a new one – when reasons for its blockade cease to
exist.
Card may be unblocked by submitting a request to the Bank, if the Bank assesses that reasons to block the card ceased.
In case of card blockade liability of the client for transactions performed during use of the Card shall not be terminated.
TERMINATION OF THE RIGHT TO USE THE CARD
The termination of the card may be initiated by the Client – by cancellation of use, or by denying the right to use by the Bank.
Cancellation of use is possible 30 day before card validity period at the latest.
If the Client cancel the use it shall immediately return all cards to the Bank and settle all liabilities arising from card operations
until the date cards are returned to the Bank.
The Bank reserves the right to deny the right to use cards to certain card users if they in any way fail to comply with the
agreement, these General Terms and Conditions, General Terms and Conditions for Provision of Payment Services for Legal
Entities as Small Business Banking and Entrepreneurs, legal regulations and law, and declare them invalid.
The Bank notifies the sales network about denial of the right to card use. This notice authorizes the employee at any sales point
to seize the card.
FEES, INTEREST AND OTHER COSTS
All interests and fees charged by the Bank to the Client in relation to issue and use of cards, are available in the List of fees.
The List of fees is published on the website of the Bank and in the business premises of the Bank in which services are provided
to customers.
The Bank properly notified the Client on all fees and interest payable by the Client to the Bank in accordance with the previous
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paragraph.
The Bank calculates and collects interest provided by the List of fees to all past due dinar and foreign currency liabilities of the
Bank against to Client.
The Client irrevocably agrees and authorizes the Bank to automatically and without additional consent of the Client debit any of
its accounts with the bank, except for accounts excluded by the law, to settle all its claims against the Client under this
agreement.
FINAL PROVISIONS
1.1 These General Rules are drawn up in accordance with the applicable laws of the Republic of Serbia and shall be construed
accordingly.
1.2 The Bank may accept the conditions not stipulated in the General Rules in exceptional cases, when that serves the interest of
the Bank and the Client.
1.3 With the adoption of the General Rules the Bank is harmonizing Agreement on issuing and use of VISA Business Card and
Agreement on Opening of the Specific Purpose FX Account for Operations with Visa Business Cards
1.4 The Bank may accept conditions not stipulated in the General Rules in exceptional cases, when that serves the interest of the
Bank and the Client.
1.5 The contractual relations and communication between the Bank and the Payment Services Client before and during the
contractual relationship shall be performed in Serbian language and alphabet, unless the Bank and the Client have agreed
otherwise.
1.6 The User agrees that the Bank reserves the right to amend and supplement these General Rules, and shall timely notify the
Client thereof. The General Rules shall be deemed accepted by the Client if within 15 days from notification by publishing on the
website, the Bank receives no written complaint concerning the latter.
1.7 The Parties involved in electronic commerce agree that in case of dispute, shall recognize the importance of electronic
communications in the court.
1.8 Any possible disputes between the Bank and the Client arising from these General Rules shall be resolved by applying the
legislation of the Republic of Serbia.
1.9 These General Rules shall enter into force upon publication in a prominent place in the business premises, and shall be
effective from 01.10.2015.
1.10 As of the date of application of these General Rules, the General rules for issuance and use of Visa Business cards for Legal
Entities segmented as SBB (Small Business Banking) and Entrepreneurs adopted by Decision No. 1.0-4060/1 on 11.03.2015. shall
cease to have effect.
In Novi Sad, ______________ (year)
Vojvodjanska Banka ad NOVI SAD
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