from future clients
Questions about the "Know Your Customer Program"
(KYC) / USA Patriot Act
Questions from existing clients / card-user
Questions from merchants / card accepting stores
Questions from companies / bulk-order clients
FAQ from future
clients /card user
Will i get credit with my Cirrus/Maestro Card?
No - ist a debitcard only and you can only utilize as much money as
you paid in firs.
Will i get credit with a Visa debit-card?
No - with no debitcard you will get a credit - from no card-organisation.
Therefor are creditcards.
Can i overdraw my card, if i have assets on my bank account?
Np - see before! Your bank account is not connected to this (anonymous)
I heared, that a credit is available on debitcards without credit-check.
Would you give some money to a complete stranger without asking for
his financial background and with no guarantee? Does this answer your
question - or do you still believe in fairytales?
Will i get bills for my purchase later?
No - you pay immediately, that's it. No late bills and no surprises!
What is a debitcard? ... and what is the difference to a creditcard?
With a decitcard you can only ulilize as much money as you paid in first
- not a cent more. That's the reason, why everybody can get such a card
without checking his credibility. With a creditcard you cet credit -
you can spend more money as you have and therefor your credibility will
be checked in advance.
In general there are three different types of cards:
Creditcards (Pay Later Cards) - you can buy first and pay later (after
you receive the monthly bill from the creditcard-organisation), the
seller receive the money also later from the creditcard organisation.
Debitcards (Pay Now Cards) - You pay some amount on your
own card-account and utilize the money in the same moment, when you make
a purchase. The seller get the payment in this moment. Eurocheck-Cards
are also classical pay-now cards, but sometimes you have a small frame
to overdraw your bankaccount.
Stored Value Cards (Pay Before / Prepaid-Cards) - You buy a card
with a certain amount stored on her and you can utilize this value. After
using the previous stored amount the card os worthless and cannot be recharged
(prepaid telephone-cards, skilift-cards, etc.)
Can i reload my debitcard?
Ja, Sie können sie jederzeit immer wieder aufladen - das ist der
Unterschied zu einer reinen Wertkarte.
When will be such a debitcard available for me?
From now on! Unlike many others, who plan to launch such a card our
card os already available on the market since one year and we can supply
Can really everybody get such a card?
Yes! Everybody us approved, even if your bank refuse to give you a card..
Do i need a card-scanner to operate the card?
No! As user you will need no technical peripheral devices! A scanner
is needed by the merchants, who accept your card only.
Do i need a bank account?
No! Neither in your country nor in the USA you have to open a bank-account.
Your funds are on the card - it is like an anonymous number-account.
Must i identify me to get the card?
No, you do not have to show any ID-card, passport or residental-declaration
and you must not specify any Social Security Number or Tax-ID. But
you have to identify yourself at the bank before you activate the
In which currency can i withdraw my funds?
You can withdraw your money in any local currency, no matter if Euro,
Dollar, Francs, Pound, Yen, Rouble or Rupee. You get the money at the
ATM´s in the local currency and you pay in this currency, where
you make your purchases.
In which currency the account will be kept?
Your cardaccount is kept in the USA in USDollar.
Is my money safe on the Debitcard?
Your deposits are insured up to US$ 100.000,- by federal insurance. The
Texas bank, where your funds are operated is FDIC insured. See: http://www.fdic.gov/
If i lose my card.......?
To withdraw money, make a purchase or any other transactions you need
the card-number and your personal, secret 4-digit PIN-code, resp. your
secret 6-digit passcode for online-access and transactions by phone.
Without this combinations of numbers the card is useless for a finder
Anyhow, you have to report your card lost or stolen.
When you receive our delivery you will find two cards in the envelope
- a spare card is included and you may change your PIN-code by yourself,
if are afraid a thief may also know your PIN-code. To change your PIN
you just need the passcode - an additional security for you.
How many cards can i have?
As much as you like. For yourself, your spouse,kids, parents, relatives,
friends, employees, .... The cards come without name and can be used
as a gift as well.
How long is the validiy of the cards?
The cards are valid for 5 years, no need to extend them annual or buy
a new one every year.
How can i check my balance?
Anytime Online, by phone or at the ATM´s.
Will i get account-statements by post?
No! Remember, you have an unidentifyed account, you are anonym, your
datas are not stored and nobody will ever see your statements!
Will my account announced to the tax-office?
No, your card is anonym to everybody except the US bank!
Must i pay duties for the funds on this card?
Yes, as any income you have to declare. But your funds will not been
taxed again in the USA.
Can payments with this card been retraced?
Of course payments can been retraced, but they cannot been assigned
immediately to a person, as it is unknown, which card you use (except
to the issuing bank). Unlike with identified creditcards, there
is no paper-track behind you. However, this card is not suitable
for illegal transactions. You can be investigated anytime!
How comes the money on my card?
You may deposit funds cash at the bank-counters, send a check to the
bank, transfer it by WesternUnion (Quick Pay or by creditcard) and of
course you can transfer money from other Cirrus-cards. Deposits can
be done also from other persons or anonymous.
Will my bank know about this card?
No - they will not get informed by us. If you do not send money from
your bank to your cardaccount and declare it there as self-deposit your
bank will not get knowledge from this card.
Can the money be distrained?
Usually not. But in case of bankrupcy or similar you have to declare
your belongings. The deposit on the card is your property and you would
have to declare it. We will not inform from our side your creditors
and it is impossible for us to give informations to executors, courts,
private investigators, debt collecting agencies or your ex-spouse. We
have definately no knowledge about the accounts.
Can i use the card to send money to normal bank accounts?
Yes, if you know the account-number and the routing number from the
bank you can send money (wire transfer) to every account.
Can i use the card for standing orders, money collecting orders or
No, your card is not a current account - but you also don't want everybody
to know about your card - isn't it?
Can i receive my salary on this card?
Of course! You can collect your salary with this card as well as honorariums,
expenses or commissions. Many internet-companies use this cards to pay
their partners from affiliate-programs already, becouse it is the most
easiest and cheapest way to pay money worldwide in the respective local
currency without expensive check-mailings or wire-transfers.
Where can i get cash money?
Worldwide at approx. 800.000 Automated Teller Machines (ATM's), with the
Cirrus- and/or Maestro-Logo you can collect cash around the clock in the
local currency. An actual list of all locations you find at the website
of Mastercard (www.mastercard.com)
under the link "ATM-Locator" http://www.mastercard.com/cardholderservices/atm/
Furthermore at many stores with the Maestro/Cirrus Logo you can cet
a certain amount in cash, especially, if you make a purchase there.
Where can i buy in stores with the card?
Everywhere you find the Maestro / Cirrus-Logo. In general this are stores,
which are online connected to the Mastercard-organisation, accepting
debitcards from this group and the PIN-code is entered by a numberpad.
Where will the card not been accepted, even they accept creditcards?
The card cannot been accepted, wherever the store got no online-connection
to the card-processor and the coverage of the purchase cannot been approved.
E.g. wherever the old creditcard-imprinter is still in use and you have
to sign the sales slip and cannot enter the PIN by a numberpad (in taxi,
at a basar, on the beach, .....) this card won't be accepted.
Where can i pay online?
In the Internet you can pay everywhere PIN-operated ATM debitcards
(Maestro/Cirrus and through the Virtual Money interface – this method
is under development) are accepted and wherever a merchant accept
Card-to-Card transfer as payment method.
What is Maestro and Cirrus?
This logos indicate debitcards of the mastercard-group.
Maestro is especially in Europe a favoured payment-instrument.
Cirrus is meant for ATM's and electronic means of payment..
For further informations, you may visit the homepage of Mastercard www.mastercard.com
What is the "Know
Your Customer Program" (KYC)
On Oct. 26. 2001 President George W. Bush signed with the "USA Patriot
Act" (Original http://www.epic.org/privacy/terrorism/hr3162.html
) a wide range of authorisations to fight international terrorism (including
Money-Laundry, Dealing of Drugs & Weapons, etc.).
One of these aspects is also the "Know Your Customer (KYC) Program",
which is under global discussion since the 90ies already, tending to monitor
all money transactions worldwide.
The KYC Program means not less that not only every US-Bank (as well
as all banks of the G7-memberstates, memberstates of the Financial
Action Task Force (FATF), i.e. the EU, Germany, Austria, Switzerland,
the Netherlands, Belgium, Denmark, Finland, France, Greece, Ireland,
Italy, Luxembourg, Norway, Portugal, Spain, Sweden, Turkey, United
Kingdom, Japan, Australia, Canada and USA), but every institution
or firm, which doing financial transactions have to know each of
their customer, otherwise they (and their employees) may be sanctioned
and punished - even imprisoned.
In worst case it may happen, that funds of non-identified persons may
be frozen or sized. If a person did not identify when opening the account,
funds may be kept untill the identity is verified. Banks may (sometimes
the might be forced to) ask their (anonymous) account-holder also at a
later moment to identify themselves.
In practice it is impossible to monitor every financial transaction (also
not every phonecall or mail can be listened and watched), but suspect
transfers will be observed most probably. Since the limit on the cards
is not suitable for dealing with drugs or weapons in a big style, the
request for the clients datas is more a voluntary act of self-control.
I guess it is just eyewash to prevent these cards of focused observation
and to avoid a general prohibition of nameless cards.
At present the bankers KYC Program is (still) a mainly voluntary act
of self-control (comparable with other self-controls in business - e.g.
media and advertising, environment- child-protection). We all know, what
may happen, if the industry don't set own regulations before the government
set up the rules. (Alcohol, tobaccos, ...) The anticipation of the cardholder-identification
on voluntary basis is presumably better than to evoke more extreme governmental
By identifying yourself when activating your card you especially make
sure, that later on your funds may not be frozen or withhold for any reason.
By registering your card you will be on the safe side.
If you are not planning to use your cards for suspect illegal activitues
or to finance international terrorism, i guess you must not be more afraid
of the KYC program then of every other form of the methods to spy you
by the government. (more informations about the KYC-program http://www.networkusa.org/fingerprint/page1b/fp-kyc-top-page.html
Which influence these regulations may have on anonymous accounts, cards
and all other funds and values - also yours - you may estimate by
yourself. Whenever we are talking about "anonymity" on
this webpage, you should consider it under these aspects.
FROM NOW ON (effective 11.2.2003) ALL CARDS MUST BE REGISTERED
PREVIOUS ACTIVATION - ALL CARDHOLDER MUST IDENTIFY THEMSELF!
(KYC german version http://www.bakred.de/texte/verlautb/formatend.htm
To the top of page
How to activate my card?
Please visit the page Card Use
- there you will find all details about the card itself!
How to load funds in my card?
Please visit the page Card Use
- there you will find all details about the card itself!
I got a problem with my activated card!
For any question about already existing, activated card please contact
Virtual.Money directly. You will find the phone number on the backside
of your card or may contact the online-support at the website www.virtual-atm.com
Card lost or stolen!
Report the loss immediately to Virtual-Money. You will find the phone
number on the backside of your card ( +1 866 692 8622) and/or contact
the online-support at the website www.virtual-atm.com
Login to your account at Virtual Money and change the PIN, if you fear
the code is in unauthorized hands as well.
How can i get a spare-card?
You received with your order two cards, which are valid for the same account.
You can use the second card immediately! If you neverthenless need another
spare card, please contact Virtual Money. You will find the phone number
on the backside of your card ( +1 866 692 8622) and/or contact the online-support
at the website www.virtual-atm.com
Or you can place an order here
and transfer your funds from the old to the new card.
If it is urgent, we will give you a cardnumber in advance and send you
the card afterwards. To this card you can transfer the funds (after
your activation) from a lost card and the lost card will become useless
to a finder or thief. No need to wait for a sparecard to be sent from
the issuing place!
from merchants (card accepting POS):
Can i also accept these cards?
Yes, if you already accept PIN-operated debitcards you can accept this
card as well. If in doubt, ask your card-processor / clearinghouse (Mastercard,
Visa, Europay, etc.)
How can i know, if i can process PIN-operated debitcards?
If you have a card-scanner, an online-connection to your card-processor
/ clearinghouse (creditcard organisation) and your clients can enter
their 4-digit PIN by a numberpad, you may accept this card as well.
If you just accept creditcards, if you have no online-connection to
the cardorganisation, your clients have to sign the slips (not just
enter the PIN) or if you still use the old card-imprinters you cannot
accept this cards. If in doubt, ask your card-processor / clearinghouse(Mastercard,
Visa, Europay, etc.)
What is the difference to a creditcard-clearing?
In contrast to creditcards (where the amount will be charged to the
buyer later) a debitcard will be charged in the moment of the purchase
and the amount is withdrawn immediately from the card. Therefor the
coverage of the card must be checked and confirmed at the moment of
purchase. This can be done only, if you are online with your creditcard-clearinghouse.
Your advantage is that the debitcard is definately covered (no overdrawing
possible), you get the money immediately and for sure and there will
be no reverse transfers of accounts.
How can i get a card-scanner to accept this cards?
Please contact your card-processor / clearinghouse (Mastercard, Visa,
Europay, etc.) to discuss the necessary steps.
How can i use this card in e-commerce?
Debitcards are the perfect solution for your online-shop, becouse they
eliminate many forms of abuse. If you already accept debitcards (in
your shop the buyer can select payment by credit- or debitcard) you
can accept this card.
Crucial is, that the identification of the cardowner is done by entering
the cardnumber and the PIN-Code.
Can i utilize this card also in the case if i do not want to accept
creditcards and don't want to make the clearing through a cardorganisation?
You can accept payments from your clients card to your Maestro-Debitcard
(Card-to-Card Transfers) and the funds will be credited to your card-account
immediately without a clearinghouse in between.
To do so, you have to give your cardnumber to your client and he can arrange
the card-to-card transfer under the link www.virtual-atm.com
online. Since the transaction will show no details you should ask your
client for his cardnumber to identify and assign payments - especially
if you expect several payments with the same amount.
Which fees will be charged to accept this cards?
Usually the fees for this cards are much cheaper thar regular creditcard-fees.
Please ask your card-clearinghouse for details.
For more questions as merchant
please send us a mail or
ask your card-clearinghouse for details.
Can i pass this cards to my staff?
Yes, no problem. The cards are anonym, with no name on it and can be
passed on anytime to everybody.
Is this a risk for me?
No, the card is covered up to the amount paid on the card and cannot
been overdrawn. Also the card is not connected to your private or company
bankaccount. An abuse by illoyal employees is impossible.
Can i pay the salary to the cards?
Yes, the card is perfect to send money to your employees or partners
(e.g. in Affiliate-Programs) worldwide at low cost. Perfect to transfer
even small amounts (Micropayments) Your staff can withdraw their money
immediately at any ATM in the local currency without expensive fees
for cashing checks, wire-transfers and money-exchange. Especially micropaymants
(small amounts of a few Dollar only) can't be done quicker and cheaper.
May i resell the cards?
No. Since the enduser must be known to the bank and we are responsible
for a correct registration, we do not allow anybody to resell the
cards to third parties. You can refer the card in the framework
of our affiliate-program and you will get commissions for your reference,
but we do not supply cards to reseller!
May i include this offer in my own MLM-System?
We are no competitor to other, existing MLM-programs, but a supplement
to every partnerprogram, helping them in all means of money transfer.
You may use the cards to pay your partners or as an incentive.
After signing up as Reseller
you will have access to the members area in which you will find
the conditions for key-account clients (bulk
orders). For details how to integrate our product in your partnerprogram,
you may contact us by mail.
Cards may not be resold but will be sent only direct to the enduser
or to companies to pass them to their employees only!