General Terms and Conditions (GTC)

General Terms and Conditions for Use of Swiss Bankers Prepaid Services (Liechtenstein) Ltd Payment Instruments

 1.    Contracting parties

1.1     By ordering a payment instrument (hereinafter referred to as “Card”) issued by Swiss Bankers Prepaid Services (Liechtenstein) AG (hereinafter referred to as “SBPS”), the client (hereinafter referred to as “Client”) enters into a contractual relationship with SBPS and accepts the following General Terms and Conditions (GTC).

1.2     These GTCs and other documents and sources of information referred to in these GTCs form a framework agreement within the meaning of the Liechtenstein Payment Services Act (Zahlungsdienstegesetz – PSA). More information about SBPS as a payment service provider, and a description of the payment services offered by SBPS, can be found on the SBPS website.

1.3     The cardholder or the ordering company undertakes to use the app provided by SBPS. The term «Card» includes both physical and virtually issued cards that are e.g. provided on digital end devices such as smartphones, smartwatches, or other mobile devices.

2.     Beneficial ownership

2.1     By using the Card, the cardholder affirms that he or she is the sole beneficial owner of the assets held on the card.

3.     Card order and customer identification

3.1     Cards can be requested and obtained via distribution partners. Depending on the product ordered and the intended scope of use, the Client provides SBPS with their personal data and the necessary proof of identification.

3.2     SBPS reserves the right to decline a card application without stating grounds. In particular, card applications from persons who are taxable in the United States of America are not admitted by SBPS.

3.3     The customer is obliged to provide correct information and is fully liable for all consequences resulting from providing false information. Changes in the information provided on order placement, particularly regarding personal data or address, shall immediately be reported to SBPS in writing.

4.     Loading the Card

4.1     The Cardholder or other persons can load funds onto the Card, i.e. onto the corresponding card account. SBPS reserves the right to restrict the group of such persons.

5.     Balance and top-up limits

5.1     The card account is managed by SBPS in the card currency. Each card account has a balance limit and a top-up limit which are based on the product and the applicable due diligence obligations, and can be viewed on the SBPS website ( SBPS and its distribution partners reserve the right to limit the maximum card balance, the top-up frequency and the maximum amount that can be topped up or used per Card over a certain period of time.

6.     Maximum number of cards

6.1 SBPS and its distribution partners are authorised to limit the number of Cards per Client.

7.     Transaction overview

7.1     Cardholders can check their card account at any time using the app provided.

8.     Notification obligations

8.1    Where SBPS requires information pursuant to statutory or regulatory obligations, the Cardholder undertakes to respond to such information requests without delay.

9.     Acceptance of the Card

9.1     The Cardholder can draw cash or make cashless payments exclusively at ATMs and cash registers with the Mastercard® logo or on the Internet at online shops that accept Mastercard cards.

9.2     SBPS may restrict or adapt the purposes for which the Card can be used at any time.

9.3     SBPS assumes no liability in the event that one of the above-mentioned locations refuses the Card for any reason or that the Card cannot be used due to a restriction.

9.4     If the Cardholder uses a virtual Card, he or she shall keep in mind when purchasing goods and services that presenting a physical Card is not required for the final purchase of the products and services.

10.     Duties of care

10.1     In handling the Card, the Cardholder is subject to the following duties of care, in particular:

a) Signature: Cardholders are obliged to sign physical Cards immediately on receipt using a waterproof pen in the space indicated.

b) Safekeeping: The Card must be stored with care, like cash.

c) Secrecy: The PIN and other means of authentication must be kept secret. They must not be written on the Card or written down or electronically stored elsewhere.

d) Sharing prohibited: The Cardholder must not lend or share or make either the Card or the card data, the PIN or other means of authentication available to third parties in any other fashion.

e) Changing PIN codes and other means of identification: Cardholders are obliged to change the PIN code for their Card immediately on receipt of the code from SBPS or another issuer. Changed PIN codes and other means of authentication must not be made up of easily identifiable combinations (telephone numbers, dates of birth, car registration numbers, etc.).

f) Checking card transactions: Cardholders are obliged to check their card account on a regular basis, at least monthly, using the app, and to report any irregularities to SBPS immediately.

g) Notification in case of suspected misuse or loss: In the event of suspicion of misuse or loss of the Card, the PIN or other means of authentication, SBPS must be notified without delay so that the Card can be blocked. If criminal activity is suspected, the police must be notified without delay. The Card can be temporarily deactivated in the app at any time and then reactivated.

h) Notification in the event of unauthorised or incorrect execution of payments: Damage resulting from unauthorised or incorrect execution by SBPS must be reported to SBPS without delay upon discovery. Notification must take place within 13 months following the date on which the card account is debited, with a written description of the transaction(s) involved.

i) Compliance with all legal requirements: The Cardholder is responsible for compliance with all applicable legal requirements (including tax laws) and must comply with such legal requirements at all times. The Cardholder must use the Card only for legal purposes and transactions.

j) Credits to Card from unknown source: The Cardholder undertakes to notify SBPS without delay of any credits to his or her Card for an unknown reason and/or from an unknown source. 

k) SBPS must be notified in writing immediately of changes in personal data, contact information and/or beneficial ownership.

11.     Authentication, charging and assumption of risk

11.1 Anyone who authenticates

a) through contactless use of the Card at a payment terminal or ATM, or

b) through use of the Card and entry of the corresponding PIN code at a payment terminal or an ATM, or

c) online by entering the card number, card expiry date, the CVC code on the reverse of the Card and, if applicable, the Mastercard SecureCode/Identity Check, or

d) via their signature

is deemed by SBPS to be authorised to use the Card, and the payment transactions initiated in this way are thus also deemed to be authorised. This is also the case when the person concerned is not the actual Cardholder. SBPS is thus authorised to charge the amount of the transactions carried out in this way and registered electronically to the card account. Payment transactions that do not meet the above criteria are not deemed to be authorised.

11.2     By initiating a transaction, the Cardholder acknowledges the claim documented by the acceptance point (such as an online retailer). Any disputes concerning discrepancies and complaints about goods or services or claims resulting therefrom are to be settled directly by the Cardholder with the acceptance point in question (such as an online retailer) and recorded in writing.

12.     Execution periods, rejections and cancellations of payment orders

12.1     A payment order issued in accordance with Article 11 of the PSA (any request for the provision, withdrawal or transfer of a sum of money) takes effect immediately following its authorisation or reservation. A payment order cannot be cancelled. The reversal of a payment order must always take place via the point of acceptance (e.g. online trader or point of sale).

12.2     SBPS reserves the right to refuse to execute or authorise a payment order. It will give a reason for the rejection, provided this does not violate any applicable laws or any court or official order.

13.     Liability in general    

13.1     Should SBPS incur losses as a result of breaches of obligations on the part of the Cardholder, SBPS reserves the right to hold the Cardholder in question liable and to debit the Cardholder’s card account directly.

13.2     In the event that the card balance is exceeded, the Cardholder must make up the negative balance, including accrued fees, within 30 days by reloading the Card. Upon failure to make such a deficiency payment, SBPS has the right to demand immediate payment of the outstanding amount and to freeze the Card. Any reminder and collection costs are borne by the Cardholder.

14.     Liability for payment transactions not carried out, or carried out incorrectly

14.1     Following the issue of a payment order by the Cardholder, SBPS is liable to the Cardholder for the correct execution of this payment order, unless SBPS is able to prove to the Cardholder, and if appropriate to the payment service provider of the payment recipient, that the amount has been received.

14.2     Provided the Cardholder reports the incorrect execution by SBPS within the appropriate time (see Duties of care, Section 10), SBPS will investigate the case within a reasonable time. Provided the complaint is justified, SBPS will reimburse the amount of the payment transaction not executed or executed incorrectly, and return the Cardholder’s debited payment account to the level at which it would have been without the incorrectly executed payment transaction. The amount will be value-dated on the Cardholder’s payment account no later than the date on which the account was originally debited.

14.3     In the event of a payment transaction not executed or executed incorrectly, in which the payment order was issued by the Cardholder, if requested to do so SBPS will – regardless of liability – undertake to trace the payment transaction and inform the Cardholder of the result. No fee will be charged for this. Please refer to Article 96 of the PSA for details of further possible combinations.

15.     Liability for payment transactions

15.1     If an unauthorised payment is caused by fraudulent intent and/or one or more wilful or grossly negligent violation(s) of duty on the part of the Cardholder (in particular the duties of care according to Article 11 of the PSA), the Cardholder will be held liable for the complete amount, and the liability limit referred to in the paragraph above will not apply.

15.2     The Cardholder will not be held liable if the loss of the payment instrument was caused by persons instructed or employed by SBPS, or the payer was not aware of the loss, theft or misuse of the payment instrument in advance of the payment, unless the payer was in fact the person performing the fraudulent act.

15.3     If compensation is to be provided by SBPS, the Cardholder will be deemed to have assigned a claim to SBPS for the loss incurred.

16.     Reimbursement of unauthorised or incorrect payment transactions

16.1     SBPS is not obliged to reimburse an amount if it can justifiably be assumed that fraud has taken place

16.2     If the Cardholder is entitled to receive reimbursement of an amount debited to his account through unauthorised or incorrect payment transactions, this reimbursement will be carried out by SBPS no later than the business day following the discovery of the transaction, with the appropriate value date.

17.     Fees

17.1     Upon loading of the Card, SBPS may charge the Card or card account fees for processing of transactions carried out with the Card and for services provided by SBPS.

17.2     SBPS is also authorised to debit any fees charged by ATM operators or other parties involved in the payment transaction. The fees charged by SBPS itself are published on the SBPS website (

17.3     Should the Cardholder request the issue of a replacement Card, they may be charged a fee by SBPS.

17.4     The sales outlet from which the Card was obtained may charge different fees; information on these fees can be obtained from that outlet.

18.     Foreign currency transactions

18.1     In countries with a different currency to the currency of the card account, the transactions are generally carried out in the local currency. The conversion rate applied is the rate defined by the Mastercard network and is displayed following the transaction.

19.     Technical faults and service downtime

19.1     The Cardholder is not entitled to compensation for technical faults and service downtime that restrict or prevent the use of the Card.

20.     Freezing

20.1     SBPS will block the Card at the Cardholder’s explicit request, or if the Cardholder reports the loss of the Card and/or the PIN code and/or other means of authentication, or if this measure seems appropriate for the Cardholder’s protection.
Cardholders can also block their Card themselves at any time in real time in the Swiss Bankers app. Furthermore, SBPS also reserves the right to block a Card at any time and without giving reasons.

20.2     SBPS has the right to charge the card account for uses of the Card before the freeze takes effect. SBPS assumes no liability for losses incurred by the Cardholder due to a freeze.

21.     Account data and information

21.1     SBPS assumes no warranty for the accuracy and completeness of information and data obtained, for example, at ATMs, on the Internet or via other applications.

22.     Validity of the Card

22.1     The duration of the Card’s validity is displayed on the Card. The card balance is not forfeited upon expiry of the Card. SBPS has the right to transfer the card balance to a new card before expiry of the Card and to furnish the new card to the Cardholder. Furthermore, at the Cardholder’s request, the card balance can be transferred to a different SBPS card or, for a fee, to an account to be specified by the Cardholder.

22.2     In the event that the Card is not used for a number of years and the card account balance falls below the minimum, SBPS reserves the right to refrain from replacing the card and may instead charge an annual service fee to the card account

23.     Messages from SBPS

23.1     SBPS is authorized to send communications by mail, phone, electronic channels (e.g. e-mail, Telefax, SMS, online banking, mobile applications, and other electronic communication channels) and by other transmission and transport means to the contact data used or explicitly provided to SBPS by the customer or by his/her representatives.

23.2     The customer is required to keep SBPS updated about the information provided on his/her person or his/her representatives, such as name, address, domicile, e-mail address, phone number, etc.

23.3     SBPS may make legally relevant information, conditions, and documents available to the customer and fulfill its information, disclosure, and notification obligations by publication in the Internet ( and in the app.

23.4     In the event of suspected or actual fraud, or in the event of a security risk, SBPS will contact the Client in an appropriate form (in writing, verbally or via electronic communication channels) and inform them of any block and the corresponding reasons, provided this is possible and does not violate any other legal requirements and/or any court or official orders.

24.     Communication from the Client

24. 1     The Client can contact SBPS via e-mail, by telephone or in writing. The current contact details can be found on the SBPS website. Important information is posted on the website

25.     Data protection

25.1     By using SBPS services the Cardholder agrees to the following:

a) Personal data and data on card transactions and the card balance may be processed and shared within the SBPS Group.

b) Personal data and data on card transactions and the card balance may be exchanged with the sales outlet from which the card was obtained.

c) Personal data and data on card transactions and the card balance may be exchanged with parties involved in operational investigations (such as requests for reimbursement due to a disputed transaction).

d) Personal data may be transferred abroad for processing. In countries without data protection comparable to Switzerland’s, SBPS will ensure data protection by means of contractual guarantees.

25.2     By acknowledging these General Terms and Conditions, the Cardholder declares that he or she likewise acknowledges the separate Data Protection Information Sheet (also available at

25.3     The Cardholder agrees that SBPS may process behavioral data which do not permit direct conclusions concerning his or her person for marketing purposes and for market research, in particular for development of products and services in connection with the card relationship, use of the Card or ancillary/supplementary services.

25.4     The Cardholder agrees that his or her use of the Card may result in an exchange and storage of data about his or her person, card transactions and current card balance in Liechtenstein and abroad which are beyond the access and oversight of SBPS.

26.    Outsourcing of business areas and services.

26.1    Within the scope of the provisions of supervisory law and in accordance with supervisory directives, SBPS may outsource particular business areas and services (such as operation of IT systems) to service providers in Switzerland and abroad. In this context, such service providers may come into possession of data about the Cardholder and his or her card transactions and card balance, which the Cardholder hereby acknowledges and accepts.

27.     Updating services

27.1     Mastercard offers updating services by which card renewals (e.g. a new expiration date or a replacement card) are automatically transmitted to the participating points of acceptance and providers of mobile payment solutions. This is to ensure that payments e.g. for recurring services such as online services or subscriptions are still made after a card renewal

27.2     The Cardholder agrees that SBPS may transmit the card number and expiration date of his/her card or replacement card to Mastercard for the purpose of providing these updating services.

27.3     Mastercard is entitled to involve further commissioned data processors. Mastercard and said further commissioned data processors process the card data at home and abroad. Suitable measures to protect the card data are taken, and the commissioned data processors are required to ensure an adequate level of data protection. Via its worldwide networks, Mastercard transmits the card numbers and the updated expiration date to points of acceptance and providers of mobile payment solutions who support such updating services and to further parties involved in the updating services, such as acquirers or certified payment service providers, among others.

27.4    SBPS offers the Cardholder the possibility to unsubscribe from the updating services. The Cardholder may unsubscribe at any time by phone, in writing, or by e-mail to SBPS Customer Service. 

28.    Dormancy

28.1    In the event of dormancy, SBPS has the right to release data about the Cardholder and his or her card balance to the proper authorities.

28.2    Should it be necessary to conduct special investigations in connection with the dormancy, SBPS has the right to charge costs incurred, in particular investigation fees, to the card account.

29.     Amendment of General Terms and Conditions

29.1     SBPS reserves the right to make amendments to the General Terms and Conditions at any time. Amendments to the GTCs are communicated two months in advance via the app provided or at, and can be accessed there at any time. The amendments are deemed to have been approved by the Cardholder if no written declaration is submitted to SBPS before the amendments come into force.

30.     Termination of the contractual relationship

30.1    The contractual relationship terminates if the Cardholder or SBPS has cancelled the contractual relationship and the balances on all cards held by the Cardholder have been settled, or all cards held by a Cardholder show no funds after expiry.

30.2     The Cardholder may terminate the contractual relationship at any time without stating grounds. SBPS may terminate the contractual relationship at any time by providing two months’ notice in writing, either via e-mail or letter.

30.3    Any card balance will be paid as a rule by electronic means to a bank or post office account in Liechtenstein.

31.     Out-of-court complaint and redress procedures

31.1     The Financial Services Conciliation Board can be consulted with a view to achieving out-of-court resolution of disputes between SBPS and the Cardholder. In the event of a dispute, the Conciliation Board can mediate between the parties in an appropriate manner and attempt to bring about a settlement. The Cardholder can also submit a complaint to the FMA.

32.    Contractual language

32.1     Should this agreement be issued and signed in a language other than German, in the event of a dispute, the German version will take precedence with regard to the interpretation of the provisions of the agreement.

33.     Severability

31.1     Should specific provisions of this agreement prove invalid, this will have no influence on the validity of the other provisions and the agreement as a whole.

31.2     Should one or several of the provisions of this agreement be or become partially or fully inadmissible, ineffective or unenforceable for any reason, this will not affect the overall validity of this agreement, and the invalid provision will be replaced by one that has been negotiated by the parties in good faith once they have been made aware of the invalidity of the provision concerned.

34.    Governing law and jurisdiction

34.1       All legal relationships with SBPS are subject to Liechtenstein law, to the exclusion of conflict of law rules, where permitted. The place of jurisdiction is Vaduz.

The current General Terms and Conditions are available for inspection at

Swiss Bankers Prepaid Services (Liechtenstein) AG
Austrasse 56, 9490 Vaduz, Liechtenstein
+423 233 31 41,,

Issued January 2024