FAQ
Any individual over 18 years of age is eligible to apply for a iPaymix Account.
Registering for a iPaymix Account is simple. After selecting the Register button you will be requested to provide your basic personal details; Furthermore, you will be asked some questions which iPaymix is required to ask its customers in accordance with local legislation.
Finally you will be asked to insert a Validation code which will be sent to you by SMS to your mobile phone number indicated by you.
Finally you will be asked to insert a Validation code which will be sent to you by SMS to your mobile phone number indicated by you.
To apply for iPaymix Account, you will need to verify your Identity and your address.
To verify your Identity, upload a scanned copy or a picture of your government issued photo ID
– National ID Cards, Driving Licenses, Residence Permits etc.
– Please upload both sides of the document
– Make sure the document is not expired
To verify your address, upload a scanned copy or a picture of your utility bill or bank statement
– The document must have your residential address and issue date (not less than 3 months old) printed on.
– The address on the document must match with your address on application.
– Mobile bills are not accepted for address verification purposes.
To verify your Identity, upload a scanned copy or a picture of your government issued photo ID
– National ID Cards, Driving Licenses, Residence Permits etc.
– Please upload both sides of the document
– Make sure the document is not expired
To verify your address, upload a scanned copy or a picture of your utility bill or bank statement
– The document must have your residential address and issue date (not less than 3 months old) printed on.
– The address on the document must match with your address on application.
– Mobile bills are not accepted for address verification purposes.
Certification of personal documents shall be obtained from a legal professional, accountancy professional, a notary, a person undertaking relevant financial business or a person undertaking an activity equivalent to relevant financial business. Such certification should be evidenced by a written statement stating that:
the document is a true copy of the original document;
the document has been seen and verified by the certifier; and
the photo is a true likeness of the applicant for business or the beneficial owner, as the case may be.
If the certifier is registered outside the European Union, the documents shall be apostilled.
Any certifier must sign and date the copy document (indicating his name clearly beneath the signature) and clearly indicate his profession, designation or capacity on it and provide his contact details.
It should also be pointed out that any documentation which is in a language not in English should be translated. The translation should be translated, dated, signed and certified by an independent person of proven competence, confirming that it is a faithful translation of the original.
the document is a true copy of the original document;
the document has been seen and verified by the certifier; and
the photo is a true likeness of the applicant for business or the beneficial owner, as the case may be.
If the certifier is registered outside the European Union, the documents shall be apostilled.
Any certifier must sign and date the copy document (indicating his name clearly beneath the signature) and clearly indicate his profession, designation or capacity on it and provide his contact details.
It should also be pointed out that any documentation which is in a language not in English should be translated. The translation should be translated, dated, signed and certified by an independent person of proven competence, confirming that it is a faithful translation of the original.
Any additional documents together with the certifications and declaration form, shall be sent by registered mail addressed to Finance Incorporated Limited at Capital Business Center, Entrance A, Floor 2, Triq Taz-Zwejt, San Gwann SGN 3000 Malta.
Through the Profile (Settings) page on Our web portal as shown below, You can modify the below profiles:
The email
The password
The mobile number
As a security measure, You will be asked to validate your profile changes.
For other changes to your personal details, You are required to call Our Customer Support on +356 2776 1844 during office hours (8.30am – 5.00pm).
The email
The password
The mobile number
As a security measure, You will be asked to validate your profile changes.
For other changes to your personal details, You are required to call Our Customer Support on +356 2776 1844 during office hours (8.30am – 5.00pm).
Normally, your iPaymix Account will be activated within 24 hours from Registration unless additional personal details and supporting documentation would be required by iPaymix. We shall notify You in writing when We have accepted your Registration and activated Your Account.
The term Politically Exposed Person (PEP) is broad and generally includes all persons who fulfil a prominent public function. For the purposes of the definition of 'political exposed persons' –
A. The term 'have been entrusted with prominent public functions' shall include the following:
i. Heads of State, Heads of Government, Ministers and Deputy and Assistant Ministers and Parliamentary Secretaries;
ii. Members of Parliament;
iii. Members of the Courts or of other high-level judicial bodies whose decision are not subject to further appeal, except in exceptional circumstances;
iv. Members of courts of auditors, Audit Committees or of the boards of central banks;
v. Ambassadors, charges d'affaires and other high ranking officers in the armed forces;
vi. Members of the administrative, management or boards of State-owned corporations.
Where applicable, for the purposes of subparagraphs (i) to (v), shall include positions held at the Community or international level. But shall exclude middle ranking or more junior official positions.
B. The term 'immediate family members' shall include the following:
i. The spouse, or any partner recognized by national law as equivalent to the spouse;
ii. The children and their spouses or partners; and
iii. The parents.
C. The term 'persons known to be close associates' shall include the following:
i. A natural person known to have joint beneficial ownership of a body corporate or any other form of legal arrangement, or any other close business relations with that politically exposed person;
ii. A natural person who has sole beneficial ownership of a body corporate or any other form of legal arrangement that is known to have been established for the benefit of that politically exposed person.
A. The term 'have been entrusted with prominent public functions' shall include the following:
i. Heads of State, Heads of Government, Ministers and Deputy and Assistant Ministers and Parliamentary Secretaries;
ii. Members of Parliament;
iii. Members of the Courts or of other high-level judicial bodies whose decision are not subject to further appeal, except in exceptional circumstances;
iv. Members of courts of auditors, Audit Committees or of the boards of central banks;
v. Ambassadors, charges d'affaires and other high ranking officers in the armed forces;
vi. Members of the administrative, management or boards of State-owned corporations.
Where applicable, for the purposes of subparagraphs (i) to (v), shall include positions held at the Community or international level. But shall exclude middle ranking or more junior official positions.
B. The term 'immediate family members' shall include the following:
i. The spouse, or any partner recognized by national law as equivalent to the spouse;
ii. The children and their spouses or partners; and
iii. The parents.
C. The term 'persons known to be close associates' shall include the following:
i. A natural person known to have joint beneficial ownership of a body corporate or any other form of legal arrangement, or any other close business relations with that politically exposed person;
ii. A natural person who has sole beneficial ownership of a body corporate or any other form of legal arrangement that is known to have been established for the benefit of that politically exposed person.
The Foreign Account Tax Compliance provisions (commonly known as FATCA) contained in the HIRE Act 2010 are US legislation aimed at reducing tax evasion by citizens of the United States of America (US). It requires Financial Institutions outside the US to pass information about their US customers to the US tax authorities i.e. the Internal Revenue Service (IRS).
On 16th December, 2013 Malta and the US signed an agreement to implement FATCA in Malta (Agreement between the Government of the United States of America and the Government of the Republic of Malta to Improve International Tax Compliance and to Implement FATCA – incorporated into Maltese law through LN 78 of 2014) hereinafter referred to as "the FATCA Agreement".
Entities that issue payment cards that can be pre-loaded with funds in excess of $50,000 to be spent at a later date, such as a pre-paid cards or "e-money" are to be considered to be Depository Institutions for the purposes of the FATCA Agreement and therefore have an obligation to report certain information regarding those identified reportable accounts to the Commissioner for Revenue.
On 16th December, 2013 Malta and the US signed an agreement to implement FATCA in Malta (Agreement between the Government of the United States of America and the Government of the Republic of Malta to Improve International Tax Compliance and to Implement FATCA – incorporated into Maltese law through LN 78 of 2014) hereinafter referred to as "the FATCA Agreement".
Entities that issue payment cards that can be pre-loaded with funds in excess of $50,000 to be spent at a later date, such as a pre-paid cards or "e-money" are to be considered to be Depository Institutions for the purposes of the FATCA Agreement and therefore have an obligation to report certain information regarding those identified reportable accounts to the Commissioner for Revenue.
You can open an Account in Euro.
There are two main types of transactions – money in and money out.
Money in – iPaymix offers instant and local options for funding your account, including debit and credit cards, international bank transfers and other local options depending on your country of residence. You may also receive funds from other iPaymix Account holders.
Money out – Once you've funded your account, our web portal enables you to make SEPA payments, other international payments, money transfers to other iPaymix account holders and loading your card.
Money in – iPaymix offers instant and local options for funding your account, including debit and credit cards, international bank transfers and other local options depending on your country of residence. You may also receive funds from other iPaymix Account holders.
Money out – Once you've funded your account, our web portal enables you to make SEPA payments, other international payments, money transfers to other iPaymix account holders and loading your card.
Once a customer's registration is approved by iPaymix, the customer will be given access to the account. It is a Global Premium Personal Account with a maximum loading limit per calendar year of € 50,000. This means that the sum of all credits into the personal account cannot exceed € 50,000.00 in any calendar year. If at any time, a customer exceed this limit, her/his account will be immediately blocked until the customer would have been verified.
The following loading limits per calendar year apply to the Global Premium Personal account € 50,000
Please refer to spending limits in the terms and conditions.
Only one personal account is permitted per customer.
Where We reasonably believe that an Instruction purporting to come from You has not been properly authorised by You or that any other breach of security has occurred in relation to Your Use of the Services, we reserve the right to block your account.
If your account has been dormant for the last 6 months, that is no transaction have been carried out through your account in the last 6 months, our online system automatically blocks the account.
If you have exceeded your total loading limits in a calendar year, your account will be blocked.
If your account has been dormant for the last 6 months, that is no transaction have been carried out through your account in the last 6 months, our online system automatically blocks the account.
If you have exceeded your total loading limits in a calendar year, your account will be blocked.
Your account can only be unblocked/reactivated by contacting Our Customer support.
We may take action to close Your Account immediately in exceptional circumstances such as if We reasonably believe that:
You are not eligible for a iPaymix Account;
You have given Us any false information at any time;
You or someone else is using the Account illegally or for criminal activity;
Your behaviour means that it is inappropriate for Us to maintain Your Account;
Your conduct in relation to Your Account has been consistently unacceptable.
by maintaining Your Account We may break a law, regulation, code or other duty which applies to Us;
by maintaining Your Account We may damage Our reputation; or
You have been in serious or persistent breach of the terms and conditions, agreement or any additional conditions which apply to Your Account.
If We close Your Account for the reasons described above prior to 12 months after Your Account is opened, termination fees as set out on Our Website shall apply.
You are not eligible for a iPaymix Account;
You have given Us any false information at any time;
You or someone else is using the Account illegally or for criminal activity;
Your behaviour means that it is inappropriate for Us to maintain Your Account;
Your conduct in relation to Your Account has been consistently unacceptable.
by maintaining Your Account We may break a law, regulation, code or other duty which applies to Us;
by maintaining Your Account We may damage Our reputation; or
You have been in serious or persistent breach of the terms and conditions, agreement or any additional conditions which apply to Your Account.
If We close Your Account for the reasons described above prior to 12 months after Your Account is opened, termination fees as set out on Our Website shall apply.
You have the right to close Your Personal Account immediately by written notice to Us. In the event that You close Your Account prior to 12 months after Your Account is opened, termination fees as set out on Our Website shall apply.
If You do not accept a change to our terms and conditions which is unfavourable to You, of which notice has been given, You should tell Us in writing before the lapse of the said notice period. Telling Us that You do not accept the change will be deemed to be Your request to close Your Account immediately and without any additional fees for closing Your Account.
If You do not accept a change to our terms and conditions which is unfavourable to You, of which notice has been given, You should tell Us in writing before the lapse of the said notice period. Telling Us that You do not accept the change will be deemed to be Your request to close Your Account immediately and without any additional fees for closing Your Account.
Through our web portal, you can send money to anyone who is not a iPaymix customer by providing us with her/his email address and the initial amount you wish to transfer.Your relative and/or friend will be sent an email to the email address provided by you, informing her/him that you made a fund transfer and requesting her/him to register for a Global Personal Account in order to claim the funds.
You can load your Account through bank transfers, debit and credit card deposits.
First you need to register your credit/debit card from the "Load Funds by Card" function. Once you register your card you will find a charge on your card for €1.00 from merchant www.paymix.eu following a 6-digit code. You can obtain this 6-digit code either by contacting your card bank issuer or by checking your card statement in a couple of days following the registration. Log in to the portal and from the "Verify a registered card" function, confirm the card by entering the 6-digit code. The charges will be than refunded back to your eWallet. You can than start loading your account by your personal credit/debit card.
The funds will be deposited into your iPaymix as soon as we receive confirmation from our counterparty bank that the funds have arrived at Finance Incorporated Limited bank account. This typically takes between 1-2 business days from the time the funds have left your bank.
To ensure that your deposit is processed correctly and not returned, please include your iPaymix Account Number in the description provided in the payment order to your bank.
To ensure that your deposit is processed correctly and not returned, please include your iPaymix Account Number in the description provided in the payment order to your bank.
Once you Sign in into our web portal and select the "Transfer funds" option, you must select "Outward Payments". You will be automatically directed to the SEPA – Domestic transfer page. Once you input the beneficiary's name, country and IBAN, upon validation of the IBAN our web portal will provide you with the details of the beneficiary's bank; You will need to Enter the amount you wish to transfer and click "Authorise" or "Authorise and Save as Template". The "Authorise and Save as Template" function will enable you to save the beneficiary details as a template for future reference/use.
For security reasons you will be asked to insert the validation code that you will receive by SMS on the mobile number indicated in your profile.
For security reasons you will be asked to insert the validation code that you will receive by SMS on the mobile number indicated in your profile.
Once you Sign in into our web portal and select the "Transfer funds" option, you must select "Outward Payments". You will be automatically directed to the SEPA – Domestic transfer page and then select Non-SEPA – International Transfer. Once you input the beneficiary's name and country, you will be asked to select whether the beneficiary account is an IBAN. If the Beneficiary has an IBAN, upon validation of the IBAN our web portal will provide you with the details of the beneficiary's bank. If the Beneficiary Bank does not have an IBAN, you will need to provide all the Beneficiary's bank details; You will need to Enter the amount you wish to transfer and indicate the type of commission. You must then click "Authorise" or "Authorise and Save as Template". The "Authorise and Save as Template" function will enable you to save the beneficiary details as a template for future reference/use.
For security reasons you will be asked to insert the validation code that you will receive by SMS on the mobile number indicated in your profile.
For security reasons you will be asked to insert the validation code that you will receive by SMS on the mobile number indicated in your profile.
Payment instructions will be processed by iPaymix as follows:
on the same day – for payments received on a Working Day by 16.00 CET; or
on the following Working Day – for payments received after 16.00 CET or on a day that is not a Working Day in Malta and/or the country of our counterparty banks.
on the same day – for payments received on a Working Day by 16.00 CET; or
on the following Working Day – for payments received after 16.00 CET or on a day that is not a Working Day in Malta and/or the country of our counterparty banks.
Payment instructions will be processed by iPaymix as follows:
on the same day – for payments received on a Working Day by 13.00 CET; or
on the following Working Day – for payments received after 13.00 CET or on a day that is not a Working Day in Malta and/or the country of our counterparty banks.
on the same day – for payments received on a Working Day by 13.00 CET; or
on the following Working Day – for payments received after 13.00 CET or on a day that is not a Working Day in Malta and/or the country of our counterparty banks.
If incorrect payment details have been provided, the payment may be delayed, returned or credited to a wrong account. iPaymix reserve the right to charge You with a recall/cancellations/repair fee and recharge any fees from other third party banks, as applicable.
We will not be liable for any loss incurred by anyone and/or for any delay to the payment being made.
We will not be liable for any loss incurred by anyone and/or for any delay to the payment being made.
Outward payments will be reflected on Your Account on the next working day after You authorise such transactions. Nevertheless, Your Account's available balance would be deducted with the payment amount.
You shall immediately notify us with this instance and immediately proceed to change your password credentials.
We will be responsible for losses resulting directly from payments which You tell Us that You have not authorised unless You have acted fraudulently or You have allowed an unauthorised person to give payment instructions or You have not immediately notified Us and/or changed Your password when You become aware of any breach of security relating to Your Account.
We will be responsible for losses resulting directly from payments which You tell Us that You have not authorised unless You have acted fraudulently or You have allowed an unauthorised person to give payment instructions or You have not immediately notified Us and/or changed Your password when You become aware of any breach of security relating to Your Account.
Your IBAN includes the 2 letter country code (e.g. MT), a two-digit check number, the four character bank code, the five-digit bank branch code, and your eighteen-digit account number. For example: MT XX PYMT 01100 XXXXXXXXXXXXXXXXXX.
The participating countries of the SEPA area (Single Euro Payments Area) have agreed on the IBAN system in order to simplify national and international payments, and to reduce the risk of error in the communication and processing of transactions.
Merchants or employers who do not accept IBANs from other member states of the European Economic Area are violating European law as of 1 February 2016 (Article 9 of Regulation No 260/2012).
If you are ever affected by IBAN discrimination, please contact your relevant national authority directly and notify them. Provide your contact details, the name of the merchant or company that didn’t accept your IBAN, as well as a brief description of the incident (including a screenshot of the rejection or other documentation of your communication with them).
The participating countries of the SEPA area (Single Euro Payments Area) have agreed on the IBAN system in order to simplify national and international payments, and to reduce the risk of error in the communication and processing of transactions.
Merchants or employers who do not accept IBANs from other member states of the European Economic Area are violating European law as of 1 February 2016 (Article 9 of Regulation No 260/2012).
If you are ever affected by IBAN discrimination, please contact your relevant national authority directly and notify them. Provide your contact details, the name of the merchant or company that didn’t accept your IBAN, as well as a brief description of the incident (including a screenshot of the rejection or other documentation of your communication with them).
Statements (including such information relating to payments made out of the Personal Account as is required under the Central Bank Of Malta Directive 1) can be generated any time through Our web portal at no cost.
Through the Web Portal you may also generate on an ad hoc basis at Your request transaction history reports – for which no fees apply.
Through the Web Portal you may also generate on an ad hoc basis at Your request transaction history reports – for which no fees apply.
If You do not accept a change to our terms and conditions which is unfavourable to You, of which notice has been given, You should tell Us in writing before the lapse of the said notice period. Telling Us that You do not accept the change will be deemed to be Your request to close Your Account immediately and without any additional fees for closing Your Account.
The merchant will let you know the available ways to make a purchase. iPaymix recommends using Chip & Pin. Swiping is discouraged, however, outside the EU, Swiping the card and completing a payment using the Magnetic Stripe is the current norm.
The card details are stored within a PCI Level 1 certified infrastructure, at no point during the product and account lifecycle, iPaymix employees will not have access to your card's personal information, and so the details will only be known by you. It is imperative that you keep your own details secure by only allowing visibility of the card to yourself and the immediate purchase, and access to the details should be physically controlled by yourself.
The personal identifiable details that you hold and you use to access your account are personal, and so to keep them secure, you should adopt all measures possible to ensure that the details are only kept to yourself. Do not share any of these details with anyone, and always make sure, when using Security Tokens or entering PIN's or using the Security Tokens that you are alone and no-one can see or detail what you are doing.
It is difficult to know when you are using the genuine site or not, however iPaymix offers the following advice to its customers:
Many websites look just like the real thing. But if you look closely at the text, you may spot misspellings and other typos that could indicate the site you're looking at is fake.
A real site will never use scare tactics to get your username and password. If you're ever in doubt, contact the company directly to see if your account is in danger.
At minimum, it should have a URL that starts with https://, and it should have a padlock icon in the browser frame – NOT on the site's page. These show the site is protected with Secure Sockets Layer (SSL), a cryptographic protocol that provides communication security.
Many websites look just like the real thing. But if you look closely at the text, you may spot misspellings and other typos that could indicate the site you're looking at is fake.
A real site will never use scare tactics to get your username and password. If you're ever in doubt, contact the company directly to see if your account is in danger.
At minimum, it should have a URL that starts with https://, and it should have a padlock icon in the browser frame – NOT on the site's page. These show the site is protected with Secure Sockets Layer (SSL), a cryptographic protocol that provides communication security.
As stated previously, iPaymix employs various encryption algorithms and very strict and secure firewalls on their servers to ensure that your registration process and your details are kept secure.
Please refer to our Privacy Policy.
Emails seeking personal and identifiable information will never be sent by iPaymix. These instances can be considered fraudulent and will never be from iPaymix.
Kindly get in touch with our call centre representatives by calling on (+356) 2776 1844 and you will be guided accordingly.
You can get in touch with our call centre representatives on (+356) 2776 1844 during office hours (8.30am – 5.00pm). For lost and stolen cards You can get in touch 24×7 with our call centre representatives on (+356) 2247 0088.
The registered address of Finance Incorporated Limited is:Finance Incorporated Limited
Capital Business Center, Entrance A, Floor 2
Triq Taz-Zwejt,
San Gwann, SGN 3000,
MALTA
Capital Business Center, Entrance A, Floor 2
Triq Taz-Zwejt,
San Gwann, SGN 3000,
MALTA
Should you wish to file a complaint you can do so by sending an email to complaints@paymix.eu.