Frequently Asked Questions

Frenquently Asked Questions

Why to choose QUANT Financial?

QUANT Financial is a unique platform for covering all transactional needs of private individuals and corporate clients. This is digital banking platform, where clients benefit from receiving and issuing pay-outs through various methods (e.g. bank transfer, payment card, various eWallets, etc.) at the highest speed and with favorable commissions. Receiving funds and forwarding them has never been easier. Unique IBAN* for every customer, wide range of loading channels, instant access to funds through Prepaid cards, solutions for transferring funds to almost any card of any bank within minutes 24/7, as well as other benefits – make QUANT Financial an ideal financial partner for any client.

*Unique IBAN: Currently only in the QUANT Financial EU Division

Is my money safe with QUANT Financial?

Yes, your money is always safe with us. Unlike traditional banks, QUANT Financial does not invest your money. Therefore, your money is always instantly available. Applicable regulations set by the Central Bank of Lithuania, which is a governmental institution directly regulated by the European Central Bank, require all funds that are deposited on QUANT Financial accounts to be stored within segregated accounts in credit institutions and always kept readily available for client withdrawal. – Regarding our EU Division. The Global Division’s Funds are stored in the Republic of Kazakhstan in segregated accounts at major financial institutions.

Unlike banks we do not re-invest customer funds and have to keep all customer money separate to our own company finances. All client funds (i.e. your money) are held in separate, ring-fenced accounts in tier one financial institutions. Client funds are never mixed with our own funds, never invested nor used for any operational purpose. No liquidator, receiver, administrator, examiner or creditor of a Payment Institution, not the official assignee in bankruptcy has any recourse or right against client funds held in accordance with the above. This guarantees that even in the unlikely event that QUANT Financial is no longer in business all of our customers would receive 100% of their balance back. 

What about my information? Is QUANT Financial secure?

The protection and security of your personal data is of paramount importance to us. We maintain bank-level security, which is independently tested, audited and reinforced by our highly trained staff. Our systems are built following the strictest security standards, including the most sophisticated data encryption technology, to protect your information. We use advanced data encryption and storing technologies that ensure your personal information and transactions are sent and stored securely. Our privacy notice provides more information on what data we collect and how it gets used. You can also read more about how we keep your account secure here.

IT SECURITY

Our systems are built following the strictest security standards, including the most sophisticated data encryption technology, to protect information travelling from the tips of your fingers to our server farm. Our datacenters are geographically distributed and fully redundant, with 24/7 automated security monitoring. In addition, we regularly undergo external security scans and penetration tests. We never store the details of your payment cards.

BACK-OFFICE SECURITY

Our call center and back office operators are trained to recognize the social engineering tricks of those who’d like to learn about or access your account and we make extensive use of technology – including face recognition and geolocation monitoring – to prevent financial fraud and impersonation.

Which countries is QUANT Financial available in?

QUANT Financial is a digital banking alternative with worldwide coverage, offering full financial freedom. You can open an account with us regardless of your citizenship or financial history, but we do have a list of countries from which we are not allowed to onboard clients.

Blacklisted Jurisdictions

Is a credit check necessary for opening a QUANT Financial account or wallet?

There is no credit check when opening a QUANT Financial account / wallet.

What types of accounts do we offer?

QUANT Financial EU Division

Your master account will be opened in EUR and will come with a unique IBAN and BIC. You will also be able to open a sub-account in EUR, USD, GBP, CHF and PLN.

QUANT Financial Global Division

Your master account will be opened in EUR with the and you will immediately receive wallets in the following currencies: USD, GBP, CHF, JPY, CNY, KZT, RUR.

Creating a Corporate account / Business Wallet

QUANT Financial EU Division

In order to open a business account, you will need to fill out a short online application form. This should only take about 10 minutes. Once you have submitted your application, you will join a short queue. Our team will review your application, possibly reaching out to you to confirm a few details. It usually takes between 1-7 days to open your business account, but it may take a bit longer if we are dealing with high demand.

QUANT Financial Global Division

Providing information for onboarding

QUANT Financial EU Division

To open a corporate account, we will need: Your name, address, a photo of your ID and a selfie, so we can carry-out a quick identity check. Name, address and incorporation details of your business. A short description of which activities are being performed by your company and where. Basic details about the primary shareholders/directors of your company. They must also be subject to an identity check, which you can submit on their behalf.

To open a personal account, we will need: Your name, address, a photo of your ID and a selfie, so we can carry-out a quick identity check. 

QUANT Financial Global Division

To open a corporate account, we will need: Your name, address, a photo of your ID, so we can carry-out a quick identity check. Name, address and incorporation details of your business. A short description of which activities are being performed by your company and where. Basic details about the primary shareholders/directors of your company. They must also be subject to an identity check, which you can submit on their behalf.

To open a personal account, we will need: Your name, address, a photo of your ID, so we can carry-out a quick identity check. 

What requirements are there in place for beneficial owners and directors?

QUANT Financial EU Division / Global Division

To open a QUANT Financial business account, we need to confirm the details of the directors and primary shareholders of your company. This policy is in line with a banking regulation commonly known as ‘Know Your Customer’ (KYC), which helps businesses verify the identity of its clients. You will need to provide the details of the individuals who own more than 25% of the cumulative shares of your business. These shareholders and directors will need to provide a high-quality photo of an official ID, which is valid for at least the next three months. You can invite them to submit their ID check themselves or upload the documents on their behalf. Please note that we may ask for additional documents.

How can I deposit money to my QUANT Financial account?

QUANT Financial EU Division

At the moment, the only available option of funding your account is via a bank transfer. Here is how you can find your account details, which are necessary to make a transfer: QUANT Financial Web Client Office – Sign in to your QUANT Financial account and go to the “Accounts” menu on the left side of your screen → “Accounts” page → Choose the needed currency (if you have two or more currency accounts). Click on the Funding Instructions tab. After that choose one from the available accounts and click on it. Account details, such as Currency, Bank, IBAN, SWIFT BIC , and Beneficiary Name will be shown.

QUANT Financial Mobile App – Sign in with your passcode and press on the needed currency (if you have two or more currency accounts), → “Add funds” → After that choose one from the available accounts and click on it. Account details, such as Currency, Bank, IBAN, SWIFT BIC , and Beneficiary Name will be shown. Note: If you are making a transfer from another SEPA accredited European bank account to your QUANT Financial account in EUR currency, you have to make sure you are making a SEPA transfer in order to avoid any additional fees charged by your bank. Your money will be credited to your QUANT Financial account within 1-3 business days.

QUANT Financial Global Division

At the moment, the only available option of funding your account is via a bank transfer. Here is how you can find your account details, which are necessary to make a transfer: QUANT Financial Netbank – Sign in to your QUANT Financial account and go to the “Transfers” menu on the left side of your screen → “Incoming Wire Transfer” page → Choose the needed account.

QUANT Financial Mobile App – Sign in with your passcode and go to the “Transfers” menu  → “Incoming Wire Transfer” page → Choose the needed account. Your money will be credited to your QUANT Financial account within 3-7 business days.

Can I deposit cash?

No. QUANT Financial does not support any cash deposits.

How can I deposit money to my QUANT Financial account via credit/debit card?

QUANT Financial EU / Global Division

Unfortunately, this option is unavailable at the moment.

Can I receive funds to my QUANT Financial current account / wallet?

QUANT Financial EU Division

Yes. Please note that at the moment you can only receive SEPA payments to your QUANT Financial master account. All the EU banks (and many more) support SEPA transfers. SEPA is the fastest and cheapest way to send and receive funds. Most SEPA transactions are executed and reach destination on the same day. The fees for receiving SEPA transfers are provided in the Corporate account fees list and the ‍Personal account fees list.

If you want to receive SWIFT payments to your European master account you need to open a sub-account. In this case please to contact us.

support@quantpayment.com

QUANT Financial Global Division

Yes, but please check your account and routing details in your QUANT Netbank.

https://login.quantnetbank.com

Can I send funds from my QUANT Financial current account / wallet?

QUANT Financial EU Division

Yes. QUANT Financial provides two options for money transfers: SEPA transfers and SWIFT transfers. SEPA (Single European Payment Area) transfers are executed only in the EU and EEA countries, in EUR currency. Switzerland, Monaco, San Marino, and Gibraltar participate along with EEA countries (EU countries, Iceland, Liechtenstein and Norway) in the SEPA scheme. SWIFT transfers are executed in other currencies and/or in Euro currency to bank account holders in countries outside the EEA or SEPA zones. The fees for both SEPA and SWIFT money transfers are provided in the pricing list.

QUANT Financial Global Division

In the Global Division, we also provide SWIFT money transfers and in-house transfers.

How long does it take to transfer money from my QUANT Financial account?

QUANT Financial EU / Global Division

Processing times for outgoing transfers depend on the type of transfer. Internal system transfers are instant. SEPA transfers take between 1-2 business days. SWIFT transfers take between 3-5 business days.

I made a transfer to a wrong IBAN. What should I do?

QUANT Financial EU / Global Division

If you made a transfer to a wrong IBAN, please immediately notify our support team at support@quantpayment.com and ask them to initiate a Payment Reversal. Please note that we can’t guarantee the reversal of the amount, if the payment order has been executed and paid to the recipient. We advise you to first request the return of the money from the payee.

What are internal transfers?

QUANT Financial EU / Global Division

Internal transfers / Transfer Between Users are the transfers between QUANT Financial users. To proceed with an internal transfer, you need to have the recipient’s: QUANT Financial Account number or IBAN and Beneficiary name. Internal QUANT Financial system transfers are instant and only take a few seconds to be processed. 

How can I open a new currency account?

QUANT Financial EU Division

Please, contact our customer support by sending an email with the inquiry to support@quantpayment.com. Do not forget to specify the currency of the account you want to open.

How can I close a currency account that I no longer use?

QUANT Financial EU Division

We do not advise closing your QUANT Financial account permanently, as it can take some time to set up a new account with the same details. However, if you would like to close your account, simply contact our Customer Support team at support@quantpayment.com from your registered email, so we can start the account closure. Please, bear in mind the fees that will be charged for the account closure according to your tariff plan. 

When can a termination be initiated by QUANT Financial?

QUANT Financial is not under a duty to provide an account /  wallet or MasterCard to any company or person, particularly if the person in question is acting unreasonably. In such an event the QUANT Financial retains the right to terminate the account / wallet in question.

Examples of what could be considered unreasonable include but are not limited to:

– If a customer enters fake information or personal data
– Money laundering
– Fraudulent activity
– If a customer harass or threaten QUANT Financial employees or customers
– It is not certain that the QUANT Financial will receive the usual fees agreed for accounting and use

If you feel your account / wallet has been unfairly terminated, please email Customer Service Team and we will investigate the matter.

What fees do you charge?
How do I submit a complaint?

QUANT Financial EU / Global Division

The Complaint shall be submitted via:

1. Registered mail sent to our following addresses:

174 Kasym Amanzholov street, City of Uralsk, 090000
West Kazakhstan Region, Kazakhstan;

One George’s Quay Plaza, Dublin 2
Dublin City Centre, D02 E440, Ireland;

2. E-mail: support@quantpayment.com;

We often get really useful critical feedback from customers, so please be clear the matter of your complaint when getting in touch, so we take appropriate action.

How can I order a QUANT Financial MasterCard?

You can place your order in the card section. Your QUANT Financial MasterCard® will be sent to you automatically to the mailing address you provided during registration right after we confirm your card order. It usually takes 7-10 days to receive it. If you don’t get it by that time, please contact our Customer Support Team.

Can I use my card abroad and will I be charged? Do I need to let you know when I’m heading abroad?

Your QUANT Financial MasterCard® is welcome anywhere you see the MasterCard® acceptance logo. This means you don’t need to let us know if you are traveling abroad or leaving your country of residence. If you do feel you need to add a layer of security, you can instantly lock your card within the QUANT Financial NetBank or QUANT Financial App from the Card screen, then unlock again when you’re ready to.

What are the card loading limits and maximum balance?

Card maximum balance: 20 000 EUR
Daily load limit: 5000 EUR
Monthly load limit: 20 000 EUR
Yearly load limit: 200 000 EUR

How much money can I spend with my QUANT Financial MasterCard?

Purchases (POS) – Max value per transaction: 5 000 EUR
Purchases (POS) – Max number per day: 20
Purchases (POS) – Max value per day: 20 000 EUR

Ecommerce (VPOS) – Max value per transaction: 2 500 EUR
Ecommerce (VPOS) – Max number per day: 20
Ecommerce (VPOS) – Max value per day: 2 500 EUR

How much money can I take out from an ATM?

ATM – Max value per transaction: 500 EUR
ATM – Max number per day: 10
ATM – Max value per day: 2 500 EUR

What should I do if my card is lost or stolen?

If your card is lost or stolen, you should lock your card as soon as you can. If you still have access to the QUANT Financial NetBank or QUANT Financial App, you can lock your card from the Card screen so it can’t be used if it falls into the wrong hands. If you find it again, you can just unlock it – there’s no need to order a new card. If you still can’t find your card, you can cancel it and order a replacement in the QUANT Financial NetBank or in the QUANT Financial App.

QUANT Financial Ltd.

174 Kasym Amanzholov street, City of Uralsk, 090000
West Kazakhstan Region, Kazakhstan

One George’s Quay Plaza, Dublin 2
Dublin City Centre, D02 E440, Ireland

Company Number • 200640006795
LEI Code  • 8945009A460REOYWSU34

Dun & Bradstreet
D-U-N-S Number • 563811486

+353 1 960 9091
support@quantpayment.com
www.quantpayment.com

QUANT Financial Ltd. is registered as Financial Services Provider with the Ministry of Economy under BIN Number: 200640006795 in the Republic of Kazakhstan. In addition QUANT Financial Ltd. has obtained under file No. 32-0-15/10/ЮЛ-C-643 permission from the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan to provide Payment Processing Services (through an Electronic Wallet).  

QUANT Financial Ltd. is a contracted partner of SatchelPay UAB which is an electronic money institution authorised and licensed by the Supervision Service Department of the Central Bank of Lithuania and granted electronic money institution licence Nr. 28, with a payment system participant code Nr. 30600, that conducts business under the laws of the Republic of Lithuania, according to the EU Directive (2009/110/EC) and Directive (EU) 2015/2366 on EU-wide payment services. 

SatchelPay is a principal member of MasterCard Europe for card issuing. The QUANT Financial contactless debit card is issued by SatchelPay UAB pursuant to a licence by Mastercard International. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Copyright © 2021 QUANT Financial Ltd. All rights reserved.

QUANT Financial Ltd.

174 Kasym Amanzholov street, City of Uralsk, 090000
West Kazakhstan Region, Kazakhstan

One George’s Quay Plaza, Dublin
Dublin City Centre, D02 E440, Ireland

 

Company Number • 200640006795
LEI Code  • 8945009A460REOYWSU34

Dun & Bradstreet
D-U-N-S Number • 563811486

+353 1 960 9091
support@quantpayment.com
www.quantpayment.com

Copyright © 2021 QUANT Financial Ltd. All rights reserved.