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TERMS AND CONDITIONS FOR NECOCO SERVICES

 

These Terms and Conditions (“Agreement”) govern the use of the Products (as defined below), which are made available by Necoco Limited- (Registration number HE421114 – registered address at Promachon Eleftherias, Office 8-9 Ellinas Building, PC4103 Ayios Athanasios, Limassol, CYPRUS) (“Necoco”, “we”, “us”, “our”) to any person whose application we accept (“Customer”, “you”, “your”) and Your communication with Necoco. These Terms and Conditions apply to all services and/or Products that NECOCO provide to You:  Multi-currency account which is an electronic-money (E-Money) account and/or digital currency e- wallets, both are referred to as  Account/s and/or Payment Card (Card) and/or any other auxiliary or any additional Product or Service that Necoco Limited or it’s Service Providers may offer to You. The above mentioned Products and or Services may be individually or collectively referred to as the “Services”.

You must read this Agreement carefully. By applying for or using Your Services, You will be deemed to have accepted this Agreement. If You do not accept these Terms and Conditions You should not register for or to use Services. If You have any questions, please contact our Support team (see details below).

We will communicate with you in English. Key information relating to your Services will be provided to you at the email address you register with us and/or in your Services. In addition, you agree that we may provide notices or other information to you from time to time by posting it in your Services, emailing it to your registered email address, mailing it to your registered physical address, calling you by phone or sending you mobile messages. Notices to you by email or mobile messages shall be deemed given 24 hours after the email or message is sent, unless the sending party is notified that the email address is invalid. Notices sent by registered mail shall be deemed to have been received three days after the date of mailing.

Necoco is not responsible for any malfunctions, unstable level of service, faulty transactions, warranties, suspensions, changes, missing information, exchange rates, fees, limitations, and other actions related to the services provided by the Service Provider or any other third party or affiliate of Necoco.

 

SECTION 1: ABOUT YOUR SERVICES

  • Your Services are not transferable. We may amend or change this Agreement or the Fee Schedule at any time. We may cancel or suspend Your Services or amend the Fee Schedule and any related agreements at any time at our sole discretion.

  • Your Services that are issued by the Service Providers  are governed by  separate Terms and Conditions that you will have to read and accept separately.

 

SECTION 2: DEFINITIONS

 For the purpose of this Agreement, the following terms have the meanings specified below: 

  • Agreement: means these terms and conditions together with the Fee Schedule, any supplementary terms and conditions and amendments to them that We may notify You of from time to time.

  • Business Day: means a day other than Saturday or Sunday or a Bank holiday in the United Kingdom on which clearing banks are open for business.

  • Services: means multi-currency account which is an electronic-money (E-Money) account and/or Payment Card and/or any other wallets, auxiliary or any additional Product or Service that Necoco Limited or it’s Service Providers may offer to You. Additional auxiliary and support services: NON e-money or account services provided as general support, IT, compliance, investigation, and escalations

  • Service Provider(s): means a third party company providing one or more financial and/or non-financial services in terms of authorization issued or registration granted by sector regulator. NVAYO Ltd, AUCards, ClubSwan, KYC3, ESNTL Ltd

  • Card: means the branded Necoco Payment Card powered by Mastercard under the AUCards Membership Agreement, which accesses the funds within the Accounts.

  • Transaction: means any transfer, foreign exchange trade, account funding or payment completed by You using Your Services, or any action which alters the balance of Your Services.

  • Website: means websites owned and operated by Necoco.

  • You/Your : means the physical or legal person entering and agreeing to these Terms and Conditions with Us.

 

SECTION 3: GENERAL

  • If Your Services are terminated pursuant to (i) the terms of Section 14 of this Agreement, or (ii) Service Provider’s Agreement, the Service Providers can automatically close Your Services and send the remaining balance to an account You nominate less any fees You owe and subject to any applicable regulatory provision. An Administrative Fee may be assessed against Your Services prior to closing.

  • You may transfer money between Your Services at an exchange rate determined by the Service Providers at the time of the transfer. You may use Your Account to transfer funds to another Account holder and to make payments by electronic bank transfer to another person or business. For security reasons, We or the Service Providers may limit the amount or number of Transactions You can make on Your Accounts or request additional information for the purpose of Transactions. Your Services cannot be redeemed for cash, unless otherwise available at an ATM.

  • If We believe that You’ve engaged in any of activities that we deem to be illegal, We have the right to take a number of actions to protect us and our affiliates, our/their customers and others at any time in our sole discretion. The actions We or the Service Provider may take include but are not limited to the following: (i) Freeze and/or close Your Accounts, (ii) Request additional information or clarification concerning the Transaction.

 

SECTION 4: FEES

  • In addition to the Fee Schedule outlined in Website, please refer to Your Agreement with the specific Service Providers for more information regarding an additional list of fees associated with Your Services.

  • Your use of Your Services is subject to the fees and charges set out in the Fee Schedule (“Fees”) and in other applicable fees as set out in Your Service Providers Agreement. Any or all of these Fees may be waived or reduced at our or the Service Providers’ discretion. The Fees may change over time, if so, We or the Service Providers will notify You in advance of such changes. Fees will be paid from Your Services at such time they are incurred, however if required, the fees may be deducted at the later stage.

  • All fees are calculated in USD or EUR. Foreign exchange fees may apply. If there are no funds or insufficient funds for a calculated fee, then the Service Provider may partially deduct funds from any Account that is included in Services (including but not limited to Your fiat wallet Account to satisfy amounts owed. Section 3.1 above and the provisions regarding overspending on Your Accounts will also apply.

  • You are fully responsible for payment of any applicable taxes related to your transactions and use of Services.

 

SECTION 5: IDENTIFICATION REQUIREMENTS

  • The information We collect from You can include Your name, physical address, phone number, electronic email address, date of birth, taxpayer ID number, national ID, a self-portrait photograph, bank account information, credit card information, balances, transaction statements, etc. You agree to provide us with the information We request for the purpose of identity verification and to comply with regulations and our policies regarding anti-money laundering, terrorist financing, fraud or any other financial crime. To verify Your identity, We may use our Service Providers, digital tools and other electronic records and national databases to obtain a positive match of legal name and address. Sometimes finding Your information using national databases does not work because the information is unavailable, or Your name or address has changed. If We cannot verify Your personal information, We will ask You to send us documentation through to our customer onboarding team that confirms Your identity.

  • A list of documents that meet our identification requirements will be provided at the time of the registration with us and may change from time to time at Necoco’s sole discretion. You agree to meet identification requirements. We may also request You to provide information regarding Your overall source of wealth and the source of the funds loaded into your Accounts, wallets and Cards in compliance with our policies and procedures. You agree to provide accurate and complete information and/or documentation to meet this purpose. You authorise us to obtain information about You from time to time from credit reporting agencies and other third parties for our internal processes including information and documentation regarding Transactions.

 

SECTION 6: THESE TERMS AND CONDITIONS

  • We may change these Terms & Conditions at our sole discretion including without limitation changing existing Fees or introducing new Fees, from time to time by providing You with at least 60-day notice unless We are required to make such a change sooner by law or if changes are made for security purposes. Nonetheless, We may implement new payment or auxiliary services from time to time without notice. All such changes will be posted on our Website and such other means that We agree with You.

  • The up-to-date version of these Terms and Conditions will be posted on the Website. You should check the Website regularly so that You can see the latest version.

  • You agree to be bound by these Terms and Conditions and any amendments made to them by registering with us and/or using Your Services. We recommend that You print off a copy of these Terms and Conditions to keep for Your records for reference purposes.

  • You will be taken to have accepted any change We notify to You unless You tell us that You do not agree to it prior to the relevant change taking effect. In such circumstances, We will treat Your notice to us as notification that You wish to terminate this Agreement immediately.

  • These Terms and Conditions govern Your registration with Us.

 

SECTION 7: REGISTRATION

  • To register with Us, You must be of legal age or at least 18 years of age. Our services are non-transferable and non-assignable by You.

  • Before We can make our Services available to You, We will need to know some information about You as set forth above. We will check Your identity, where You reside, and We may also ask information about Your source of wealth and funds. We may use third parties to obtain this information and carry out checks on our behalf, this may include using credit reference agencies.

  • We reserve the right to refuse to make our services available to You  or terminate Your Services at any time for any reason or no reason, without penalty.

  • If You have any problems with Your Services, please contact  Our Support Team or a support team of the Service Provider. It may not be possible to use Your Services until contact has been made or the issue has been solved.

 

SECTION 8: FUNDING YOUR ACCOUNTS AND CARDS

  • Limits may be applied by Service Providers to the number of times Your Account/Cards may be funded in a day or other period of time. Minimum and maximum funding limits may also apply.

  • Satisfactory documentation as to source of funds, the nature of the Transaction and other documentation may be requested.

  • You should keep track of the amount funded to Your Accounts and/or Cards. If You have questions about Your balance or spot something that may not be correct, please contact the Service Provider’s Support Team or our Support Team.

  • You may add funds to Your Services at any time by transferring funds from another account or wallet. Restrictions may apply.

  • All balances in Your Accounts/Cards are definitely and finally determined by Service Providers based solely on their records.

 

SECTION 9: USE OF YOUR ACCOUNT AND/OR  CARDS

  • Service Providers make Your funds available in accordance with applicable laws and regulatory requirements, banking partners and availability of funds from institutional networks. Funds may take several days to appear in Your bank accounts or Account or Cards depending upon 3rd parties involved in the transfer and Your provision of substantiating documentation of the funds.

  • It is Your responsibility to keep all Accounts and/or Cards information safe. Each time You use Your Accounts and/or Cards, You authorise  Service Provider to reduce the value available on Your Accounts and/or Cards  by the amount of the transaction plus applicable fees.

  • Funds in Your Accounts and/or Cards may be transferred to a bank account able to receive electronic bank transfers or a digital currency transaction. To move funds from Your Accounts via a bank transfer, You must submit a Transaction request. Funds in Your funds in the Accounts except of Payment Card are not available to be spent directly to a merchant or online. However, You can use Your Card where available to purchase goods and services at select merchants where Mastercard is accepted. You can also withdraw cash over the counter at a financial institution or at select ATM’s displaying the Mastercard logo, subject to there being sufficient funds in Your Card and the Merchant, or financial institution being able to verify this online.

  • You are personally liable and responsible for all Transactions initiated and Fees incurred using Your Accounts and/or Card. You must not give information about Your Accounts and/or Cards to anyone else to use. If You permit another person to have access to Your Accounts and/or Cards and other Necoco services, You will be deemed to have authorised that person to use Your Services and agree that You are personally liable for the use of Your Services, according to these Terms and Conditions.

  • Be aware that some financial providers (for example banks) charge additional fees for the use of their services. You may also be subject to their terms and conditions of business. It is Your responsibility to check before proceeding with Your Transaction.

  • Service Providers reserve the right to decline or delay any Transactions at their sole discretion. We or Service Providers may request additional documentation concerning any Transaction regarding the nature and parties involved in the Transaction.

  • If Service Providers refuse to authorise or delay a Transaction, they may, if practicable, tell You why immediately unless it would be unlawful for them to do so.

  • WE SHALL NOT BE LIABLE IF A FINANCIAL INSTITUTION REFUSES TO ACCEPT YOUR TRANSACTION OR IF Service Providers DO NOT AUTHORISE A TRANSACTION, OR IF Service Providers CANCEL OR SUSPEND USE OF YOUR SERVICES. UNLESS OTHERWISE REQUIRED BY LAW, We SHALL NOT BE LIABLE FOR ANY LOSS OR DAMAGE YOU MAY SUFFER AS A RESULT OF YOUR INABILITY TO USE YOUR SERVICES FOR A TRANSACTION.

  • You must not spend more money on Your Accounts and/or Cards than You have in Your Accounts and/or Cards. You are responsible for ensuring that You have sufficient funds when You authorise a Transaction. If this occurs, You must pay the overspend amount to the Service Provider immediately. Service Providers may offset the amounts You owe to them against any of Your Accounts and/or Cards. Service Providers and/or We reserve the right to suspend or terminate Your Accounts  if Your Account balance is negative.

  • All Transactions/wire transfers are final. You do not have the right to stop a payment or transfer Transaction originated by use of Your Account, all transfers are final.

  • If You use Your Card number without presenting Your Card (such as for a mail order, telephone, or Internet purchase), the legal effect will be the same as if You used the Card itself. For security reasons, Service Provider may limit the amount or number of Transactions You can make on Your Card. Your Card cannot be redeemed for cash.

  • You may not use Your Services for any illegal Transaction. Each time You use Your Accounts and/or Cards, You authorise Service Provider to reduce the value available in Your Accounts and/or Cards by the amount of the Transaction plus applicable fees. WE ARE NOT RESPONSIBLE OR LIABLE IN ANY MANNER FOR PURCHASES, RESERVATIONS, BOOKINGS, TRAVEL OR ANY OTHER GOODS AND/OR SERVICES PURCHASED WITH THE USE OF THE CARD REGARDLESS OF THE PURCHASE AMOUNT. We will not refund Your money for faulty, undelivered, or otherwise inadequate goods or services purchased using the Card. All such disputes must be addressed directly with the merchant providing the relevant goods or services.

  • You may send a Remittance from your Accounts to domestic and international recipients as per the Service Provider’s Terms and Conditions . You agree to only use transfer features with people or merchants that you know. You agree that You should not transact with people or merchants You do not know and that We offer no protection for authorised payments for goods and services. You agree that You may not use the Remittance Transactions for fraudulent or illegal purposes, to facilitate illegal or fraudulent Transactions or in connection with the use of illegitimate funds. We do not evaluate all providers of goods and services, and We do not protect you if the goods or services are non-conforming, damaged, or not what you paid for or expected. Transactions may be delayed or cancelled for a number of reasons or limitations, for which We will not be liable to You. Remittance may not be available in whole or in part in certain regions, countries or jurisdictions. Certain destinations may impose taxes, fees or foreign exchange charges upon the receiver’s receipt of, or access to, the transfer. PLEASE SEE SECTION 13 OF THIS AGREEMENT FOR MORE INFORMATION ABOUT OTHER DISCLAIMERS AND OUR LIABILITY WHEN YOU USE YOUR SERVICES. Service Providers reserve the right to modify or discontinue Remittance Transactions at any time at their sole discretion.

 

SECTION 10: TRANSACTIONS MADE IN FOREIGN CURRENCIES

  • If You use Your Accounts and/or Cards for a Transaction in a currency other than the currency of the Account from where You initiate the Transaction, Service Provider will convert the Transaction to the target currency at a rate determined by them. You will be provided with a quote for the conversion of foreign currency and You must accept the quote prior to Service Provider accepting the Transaction for processing.

  • The rate used to complete the Transaction and other fees charged will appear in Your Account statement. If You use Your Card to purchase goods or services or withdraw cash in a currency other than the currency of Your Card, then such Transaction will be converted to the currency of Your Card on the day the details of it were received. Mastercard authorized rates will be applicable for such a Transaction available at the website below unless specified otherwise by Service Provider. A foreign exchange fee will also apply: https://www.mastercard.com/global/currencyconversion

 

SECTION 11: DISPUTED TRANSACTIONS

  • You may be entitled to claim a refund in relation to Transactions made using Your Accounts and/or Cards where: (i) Service Provider is responsible for a Transaction which was incorrectly executed by them and You notified us or them in accordance with the Terms and Conditions; (ii) Service Provider were notified directly or through us in writing of the unauthorised/incorrectly executed Transaction immediately, or unless otherwise notified per applicable law. We will inform Service Providers of Your notification received by us as soon as practicably possible. All refunds, if any, are at Service Providers’ sole discretion.

  • You can also ask Service Provider or us to investigate the Transaction or misuse of Your Services. We may need more information and assistance from You to carry out such an investigation.

  • If Service Provider elect to refund a disputed Transaction to Your Accounts and/or Cards and subsequently receive information to confirm that the Transaction was authorised by You and correctly posted to Your Services, they shall deduct the amount of the disputed Transaction from the funds in Your Accounts and/or Cards. If there are no funds or insufficient funds, then the provisions regarding overspending on Your Accounts and/or Cards will apply as per the Service Provider’s Terms and Conditions.

  • If the investigations discover that the disputed Transaction was genuine and authorised by You directly or indirectly, or that You have acted fraudulently or with gross negligence, Service Provider and Necoco may charge You an investigation fee (see the Fee Schedule for details).

  • You should get a receipt at the time You make a Transaction or obtain cash using Your Card.

 

SECTION 12: KEEPING YOUR SERVICES’ ACCOUNTS SAFE

  • You must keep Your Services’ account numbers, log-in credentials, and information safe. Your Services’ account numbers and information is personal to You and You must not give it to anyone else to use. You must take all reasonable precautions to prevent fraudulent use of Your Accounts. Similar to bank account numbers, Your Services’ Account numbers must be kept secure. If You disclose it to any third party, it is done at Your own risk. You also agree that You alone are responsible for taking necessary safety precautions to protect Your Services and personal information.

  • If You suspect that someone else knows Your Account numbers, Card details or login credentials, LET US AND/OR SERVICE PROVIDER KNOW IMMEDIATELY. We will inform Service Provider of Your notification received by us as soon as practicably possible, however, we take no responsibility for the damages which may be caused by the delay to pass on the information. If You receive a Card, You will receive a Personal Identification Number (PIN) for Your Card and You must keep Your PIN safe. This means that when You receive Your PIN You must memorize it and You must keep Your PIN secret at all times. You must not disclose Your PIN to anyone DO NOT WRITE YOUR PIN OR CARRY IT ON YOUR PERSON. To change Your PIN log on to Your Card and follow the instructions. To ensure the PIN is synchronized with Your chip, You have to go to a Mastercard chip enabled terminal or ATM so the system can update. If You forget Your PIN, You can access it when You log on to Your Card Account or call in.

  • You agree to consider Your access credentials such as username and password as confidential information and not to disclose such information to any third party.

  • You shall be solely responsible for the safekeeping of Your Services’ details and passwords on Your own, and You shall be responsible for all activities under Services made available to you. We will not be responsible for any loss or consequences of authorised or unauthorised use of Your Services’ credentials including but not limited to information disclosure, information posting, consent to or submission of various rules and agreements by clicking on the website, online renewal of agreement, etc., for Your actions, inactions or omissions.

  • By creating an registration with Us, You hereby agree that: (i) You will notify us and/or Service Provider immediately if You are aware of any unauthorised use of Your Services and passwords by any person or any other violations to the security rules; We will inform Service Provider of Your notification received by us as soon as practicably possible, however, we take no responsibility for the damages which may be caused by the delay to pass on the information.; (ii) You will strictly observe the security, authentication, dealing, charging, withdrawal mechanism or procedures of the website/service; and (iii) You will log out from the website by taking proper steps at the end of every visit.

  • If Your Card is reported lost or stolen, Service Provider will cancel it and may issue a new one. Fees may apply. If You find Your Card after You have reported it lost, stolen or misused, You must destroy it and inform Us and Service Provider immediately.

  • Security features may be enabled from time to time to authenticate Transactions when You use Your Card for online purchases. When you use your card at participating 3D Secure (3DS) online merchants, On-Time Password will be automatically generated and sent to authenticate that the transaction is genuine. This feature is only applicable when You have a valid mobile number or mobile device registered on Your Accounts. You will need to enter the OTP to complete Your Transaction. The password is valid for a limited period of time and only for one Transaction, on a computer system or other digital devices with connection to the internet. The OTP will only be sent to the mobile number or device registered in Your Accounts at the time You have started or conduct an online Transaction. If there is a change in Your mobile number or device, please update Your contact details pursuant to the Customer Services section below. Only participating merchant websites will ask for an OTP for authentication purpose and You will not be able to complete a Transaction without an OTP. If You are unable to provide Your OTP, or if Your authentication otherwise fails, the merchant may not accept Your Card in payment for that Transaction. You agree that neither Necoco nor its affiliates or Service Providers shall be liable in any way for any merchant’s refusal to accept Your Card in a payment for that Transaction, regardless of what the reasons may be. You understand that use of the 3DS does not, in any way, indicate that we recommend or endorse any merchant, regardless of whether the merchant requires the OTP. If the merchant website has not enabled this 3DS feature, You will not be asked for an OTP. You will still be able to purchase online from merchant websites that do not participate in 3DS. Service Provider reserve the right to modify, discontinue (temporarily or permanently) 3DS with or without notice to You. Other restrictions and mobile Service Provider conditions may apply. If You are overseas or using overseas mobile Service Providers, the Service provider may not support international SMS. PLEASE SEE SECTION 13.1 BELOW FOR MORE INFORMATION ABOUT OTHER DISCLAIMERS AND OUR LIABILITY WHEN YOU USE YOUR CARD.

 

SECTION 13: LIABILITY

  • OUR TOTAL LIABILITY UNDER OR IN CONNECTION WITH THE SERVICES WHETHER ARISING IN CONTRACT, TORT, NEGLIGENCE, BREACH OF STATUTORY DUTY, LOSS OF PROFITS, LOSS OF BUSINESS, DEPLETION OF GOODWILL AND/OR SIMILAR LOSSES OR LOSS OF ANTICIPATED SAVINGS OR LOSS OF GOODS; OR LOSS OF CONTRACT OR LOSS OF USE OR CORRUPTION OF DATA OR INFORMATION OR ANY SPECIAL, INDIRECT, CONSEQUENTIAL OR PURE ECONOMIC LOSS, COSTS, DAMAGES, CHARGES OR EXPENSES ARISING HEREUNDER OR OTHERWISE HOWSOEVER, SHALL NOT EXCEED THE FEES RECEIVED BY US DURING THE LAST TWO MONTHS UNDER THESE TERMS AND CONDITIONS IN WHICH LIABILITY ARISES.

    • You agree to fully cooperate in the civil and criminal prosecution of anyone engaged in unauthorised use of Your Services, failure to cooperate will be deemed as the claimed unauthorised Transaction as being authorised by You and You shall be responsible to indemnify us for all expenses incurred during the investigation and resolution of Your claim.

    • You shall indemnify us and keep indemnified from and against all liabilities, damages, losses and costs (including legal costs) duties, taxes, charges or commissions incurred or suffered by us in the proper performance of services on Your behalf or the enforcement of rights hereunder.

    • We strive to maintain the accuracy of information posted on the services, We cannot and do not guarantee the accuracy, suitability, reliability, completeness, performance or fitness for any purpose of the content made available through our Services and will not be liable for any loss or damage that may arise directly or indirectly from Your use of such content or services provided by third parties and Services Providers. Information on our services can be subjected to change without notice and is provided for the primary purpose of facilitating users to arrive at independent decisions.

 

SECTION 14: CANCELLATION, TERMINATION AND SUSPENSION

  • You may cancel Your Accounts and/or part of Services you utilize, without reason, by contacting our Support Team. We will require You to confirm Your wish to cancel in writing. This will not entitle You to a refund of any Transactions You have made (authorised or pending) or charges incurred in respect of such Transactions. Cancellation fee shall be incurred, which will be deducted from the balance of Your Accounts and/or Cards (see Fee Schedule).

  • Services utilized by You can be suspended, restricted, cancelled or terminated by NECOCO and/or by Service Providers as per the Service Providers Terms and Conditions.

We may suspend or terminate this Agreement with you if:

  1. If We suspect or have reason to believe that You have used or intend to use our Services in a negligent manner or for fraudulent or other unlawful purposes;

  2. If We can no longer provide our Services to You due to any legal or security reason or due to actions of any third party or yourself;

  3. If You fail to pay any Fees in this Agreement, or charges that You have incurred or fail to repay any overspend incurred on Your Accounts and/or Cards;

  4. You do not comply with this Agreement, break an important part of this Agreement and/ or repeatedly break any term in this Agreement and/or fail to resolve the matter in a timely manner;

  5. We discover that any information You have provided is incorrect or incomplete;

  6. We need to do so to comply with the law and law enforcement agencies from where We may be subject to;

 

SECTION 15: PERSONAL DATA

  • All customer data is kept secure and complies to the principle of the General Data Protection Regulation (GDPR). We are committed to keeping Your personal data secure. We will not pass information We hold about You to any third party other than: (i) to our Services Providers that support the services rendered to You under this Agreement; (ii) to persons acting as our agents or partners under strict confidentiality obligations, (iii) to agencies and other organizations who may use or request Your information to prevent and detect fraud, money laundering, terrorist financing or other financial crimes.

  • If We transfer information to a third party in a country outside of the European Economic Area (EEA), We will ensure that the third party agrees to apply the same levels of protection that We are legally obligated to maintain when We process personal data.

  • You have a right to inspect the personal data We hold about You. You will be solely responsible for ensuring that the details You provide to us are true, complete and accurate. However, We may ask You to pay a fee to cover our administration costs as per the Fee Schedule on the Website.

  • We will collect and retain personal information about You so that We can make our Services available to you and deal with any inquiries that You may have about it.

  • As part of our checks to prevent fraud, money laundering, terrorist financing or other financial crime We may share personal information that You provide with credit reference or fraud prevention agencies.

  • If, when You register with Us, You opt in to receiving marketing information via email, mobile phone and do not opt out of receiving marketing information by telephone or mail, We and third parties with whom We may share Your personal data, may from time to time contact You about products or services that We or they think may be of interest to You. If You no longer wish to receive such communications, please contact the NECOCO Support team.

  • If We suspect that We have been given false or inaccurate information, We may record and report suspicion together with any other relevant information. If false or inaccurate information is provided and fraud is identified, details will be passed to fraud prevention agencies to prevent fraud and money laundering and financing of terrorism.

  • We may request additional information and documentation from You when necessary for us to comply with relevant legislation.

  • You accept that We may record and store any telephone conversations which are made between You and us and that any such recording or transcript of telephone conversations is stored to help us improve our service, assist in resolving any dispute that may arise under this Agreement, comply with any laws or regulations or help us detect or prevent fraud or other crimes.

  • You must let us know as soon as possible if You change Your name, address, mobile phone number or e-mail address. If We contact You in relation to Your Services, for example, to notify You that We will be changing the Terms and Conditions or have cancelled Your Services, We will use the most recent contact details You have provided to us. Any e-mail to You will be treated as being received as soon as it is sent by us. We will not be liable to You if Your contact details have changed and You have not told us.

 

SECTION 16: CUSTOMER SERVICES

  • Phone number: +357 25250507

  • Email address: support@necoco.tech 

    • We are committed to providing an excellent customer experience to all our Customers. If we do not meet your expectations in any way, we want to have the opportunity to put things right. 

    • In the first instance, your initial communication will be with our Customer Services Team who can be contacted by Email at support@necoco.tech. If you have received a response from our Support Team and you are unhappy with the outcome, please contact the Complaints Team at complaints@necoco.tech

    • Under the Financial Ombudsman Service, the business is to provide a final response to a complaint within eight weeks, depending on the nature of Your complaint.

    • If You are unhappy with Complaints Team response, You may contact the Financial Ombudsman Service by:

  • Post – addressing Your complaint to the Financial Ombudsman Services, Exchange Tower, Harbour Exchange, London, E14 9SR United Kingdom

  • Telephone – on +44 20 7964 0500;

  • Online – https://help.financial-ombudsman.org.uk/help

 

SECTION 17: MISCELLANEOUS

  • Headings: In this Agreement, headings are for convenience only and shall not affect the interpretation of this Agreement. Any delay or failure by us to exercise any right or remedy under this Agreement shall not be interpreted as a waiver of that right or remedy or stop us from exercising our rights at any subsequent time.

  • Assignability: You may not novate, assign or transfer any rights and/or benefits under this Agreement. We may assign, transfer or novate our rights and benefits and obligations at any time without prior written notice to You.

  • Severability: In the event that any part of this Agreement is held not to be enforceable, this shall not affect the remainder of this Agreement which shall remain in full force and effect. We reserve the right to include a substitute provision to the aforementioned part or provision that to the extent possible is (1) valid and enforceable and (2) accomplishes the original business purpose. You will remain responsible for complying with this Agreement until Your Services are closed (for whatever reason) and all sums due under this Agreement have been paid in full.

  • Language: This Agreement is written and available in English and all correspondence with You in respect of Your Account(s) shall be in English. In the event that this Agreement are translated, the version in English shall take priority.

  • Non-Waiver. No delay or failure on our part in exercising any right hereunder shall operate as a waiver of any of our rights, as the case may be, except to the extent specifically waived in writing.

  • Third Parties: Any consent you give to a third-party provider is an agreement between you and it, we will have no liability for any loss whatsoever, as a result of any such agreement.

  • Disputes: This Agreement is governed by the laws of the Republic of Cyprus. The exclusive venue for all disputes shall be decided in Cyprus. Any dispute or difference arising out of or in connection with this contract shall be determined by the appointment of a single arbitrator to be agreed between the parties, or failing agreement within fourteen days. Either party agrees to provide to the other a 30-day written notice of dispute. Both parties in this Agreement will split the cost to initiate a dispute through arbitration. The prevailing party shall have the right to collect from the other party its reasonable costs, including but not limited to attorneys’ fees and expert witnesses. YOU IRREVOCABLY WAIVE TO THE FULLEST EXTENT PERMITTED BY LAW ANY OBJECTION THAT YOU MAY HAVE OR HEREAFTER HAVE TO THE LAYING OF THE VENUE INCLUDED IN THIS CLAUSE, AND ANY CLAIM THAT ANY SUCH ACTION OR PROCEEDING BROUGHT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. NO CLAIM ARISING OUT OF THE AGREEMENT, REGARDLESS OF FORM, MAY BE BROUGHT MORE THAN THE SHORTER OF SIX MONTHS OR THE MINIMUM PERIOD ALLOWED BY LAW AFTER THE CAUSE OF ACTION HAS OCCURRED.

 

 

FEE SCHEDULE:

Limits and Pricing for Individual Clients' Accounts - according to the Plan:

FEE - LIMIT DESCRIPTION

  • Default currency

  • Joining fee

  • Monthly Subscription

  • Default card for Tier

  • Card currencies available

  • Wallet Account limits

  • FX Fee

  • Transfer between the Members in different currency

  • Transfer between the Members in the same currency

  • Bank transfer in

  • Bank transfer out

  • Credit / Debit card top-up (EEA)

  • Credit / Debit card top-up (all other regions)

  • Crypto Buy Fees

  • Crypto Sell Fees

  • Crypto to Traditional Currency Exchange Fee

  • Crypto Receival fee

  • Wallet to External Wallet Transfers

  • Crypto Internal transfer (between Members same coin)

  • Card issuance fee (replacement – only Plastic Card)

  • Daily Card load limit

  • Daily POS spend limit 

  • Daily ATM withdrawal limit

  • ATM transaction limit

  • ATM withdrawal fees

  • ATM balance enquiry 

  • POS fee 

  • Card FX fee – fiat

  • Card Replacement Fee  (For Plastic Card)

STANDARD

EUR

$60

$20

Plastic

EUR, GBP, USD

$100,000

2.50%

2.50%

 

Free

 

$3.00

2% (min $20)

3%

3%

 

3%

3%

3%

 

0.50%

2.50%

0.50%

 

$15

 

$15,000

$15,000

$1,500

$1,500

2% ($1.95 min)

$2.00

$0.26

2.50%

$20

PREMIUM

EUR

$250

$65

Plastic

EUR, GBP, USD

$500,000

2%

2%

 

Free

 

$2.50

1.75% (min $20)

2.50%

3%

 

2.50%

2.50%

2.50%

 

0.25%

2%

0.25%

 

$15

 

$50,000

$50,000

$2,500

$2,500

2% ($1.95 min)

$2.00

$0.26

2%

$20

EXECUTIVE

EUR

$650

$125

Plastic

EUR, GBP, USD

$5,000,000

1.50%

1.50%

 

Free

 

$2.00

1.50% (min $20)

2.25%

2.75%

 

2%

2%

2%

 

Free

1.50%

Free

 

$15

 

$150,000

$150,000

$5,000

$5,000

2% ($1.95 min)

$2.00

$0.26

1.50%

$20

ADMINISTRATIVE FEES
 

Cost per formal complaint in accordance with the complaints policy

Search of outgoing payment - Investigation

Search of incoming payment

Recall of outgoing payment

Cost per FOS complaint where FOS (Ombudsman) has requested further information or investigation

Suspicious Activity Report (SAR) submitted or by the issuer to National Crime Agency or equivalent official body

Additional IT resources

Compliance Escalation Fee – per hour

Legal Expenses

Amount

 

€45.00

€50.00 + Cost 

€75

€50 + Cost of receiving bank

€850.00

 

€155.00

€60/hour

€150

At cost

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