Digital banking

DIGITAL BANKING

Frequently Asked Questions

What about your security? Is QUANT covered by FSCS?

REGULATORY SUPERVISION

We do not provide FSCS protection (which only guarantees customer deposits up to £85,000 / €100,000 – instead we guarantee the protection of 100% of customer funds. QUANT Digital Limited / Peak Card Services Limited is a registered agent of DiPocket Limited which is an electronic money institution authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (900010) for the issuing of electronic money and payment instruments. As the licence is an EU based regulation, QUANT and the licence owner – DiPocket Limited has pass-ported its licence to other European countries. We are not a bank and we do not provide credit (loans) or overdrafts. Nor do we pay any interest on funds that may be held in a QUANT account.

FUNDS SAFEKEEPING

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 is no longer in business all of our customers would receive 100% of their balance back.

What about my information? Is that safe?

The protection and security of your personal data is of paramount importance to us. 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 documents are required to open a QUANT Business Wallet?

During the application process you will be required to provide the following documents.

FROM THE COMPANY:

– Certificate of Incorporation / Certificate of Registration
– Memorandum and Articles of Association / Constitution / Partnership Agreement
– Register of Directors, Shares and Secretaries

FROM THE DIRECTORS, ULTIMATE BENEFICIAL OWNERS, AUTHORIZED SIGNATORIES AND MAIN ACCOUNT USER:

– Passport copy
– Personal ID or Driving License copy
– Recent Proof of Address

You will also be required to provide a form of address from within the last 3 months. Eligible proofs of address are:

– Bank Statement
– Credit card statement
– Utility bill (not mobile phone)

Is a credit check necessary for opening a QUANT Business Wallet?

There is no credit check when opening a QUANT Business Wallet.

What kind of registered companies can open a Business Wallet?

QUANT for Business is currently available for companies registered and with a physical presence within the European Economic Area (EEA) and Switzerland.

In the following countries:

Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Isle of Man, Italy, Jersey, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland and the United Kingdom.

We will be expanding outside of these countries soon. Feel free to register your interest and we’ll notify you when our services are available in your country. – hello@quantpayment.com

Who can order a QUANT MasterCard?

We are currently only supporting legal residents in the European Economic Area (EEA) and Switzerland, regardless of citizenship or financial history.

In the following countries:

Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Isle of Man, Italy, Jersey, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland and the United Kingdom.

We will be expanding outside of these countries soon. Feel free to register your interest and we’ll notify you when our services are available in your country. – hello@quantpayment.com

How to receive money through QUANT Business Wallet? How to top-up a Wallet?

There are two ways to top-up your QUANT Business Wallet:

1. You can receive money via regular bank transfer from another bank, just give the sender your QUANT Business Wallet (account) (IBAN) details.

2. Ask another QUANT customer to transfer money to you – cheap and instantaneously.

I'm waiting for an incoming bank transfer, when will I receive it?

It depends on the type of transfer. SEPA transfer – max. 2 business days, international transfer – up to 5-7 business days.

Can I deposit cash?

No.

Can I make outgoing bank transfers from my QUANT Business Wallet to the outside of QUANT?

We currently do not provide outgoing bank transfer service from QUANT system. QUANT will be offering regular outgoing bank transfer service in the near future.

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 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 NetBank or QUANT App from the Card screen, then unlock again when you’re ready to.

How much money can I take out from an ATM?

You can withdraw €500 per transaction, with a maximum total withdrawal limit per day of €1 000. Although with QUANT BUSINESS ELITE status you can withdraw €600 per transaction, with a maximum total withdrawal limit per day of €2 400.

Can I increase the ATM withdrawal limit?

Yes, by submitting a request for the QUANT BUSINESS ELITE status.

Do you offer USD business account or USD MasterCard?

Currently we do not offer USD accounts and cards. QUANT will however soon be offering USD account and cards.

How can I order a QUANT prepaid MasterCard?

You can place your order in the QUANT NetBank or in QUANT App. Your QUANT 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.

How much money can I spend with my QUANT MasterCard?

You can make purchases / POS transactions of  maximum €9 000 per transaction. The maximum total limit of POS transactions and / or online purchases per day is €9 000, with a maximum total POS / online purchases per month of €30 000.

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 NetBank or QUANT 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 NetBank or in the QUANT App.

What fees do you charge?

For the QUANT Business Wallet opening, we charge an amount of €149. And for the orders of QUANT MasterCards we charge €20. These fees are one time fees.

Our monthly fee for the QUANT Business Wallet is €20. The fee of incoming transfers to the QUANT Business Wallet is €6 / incoming transfer. We charge for transfers from the QUANT Business Wallet to a QUANT MasterCard® is €5 / transaction. We charge for transfers from a QUANT MasterCard® to another QUANT MasterCard® is €1 / transaction.

The monthly fee of each QUANT MasterCard® is €3. The cost of a POS / online purchase is €0.15 per transaction. Our unified worldwide cash withdrawal fee is 1.5% (min. €5) per transaction. Our FX conversion fee is 2%.

When can a termination be initiated by QUANT?

QUANT is not under a duty to provide a Business Wallet / Prepaid MasterCard to any company or person, particularly if the person in question is acting unreasonably. In such an event the QUANT retains the right to terminate the Business 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 employees or customers
– It is not certain that the QUANT will receive the usual fees agreed for accounting and use

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

QUANT Digital Limited
One George's Quay Plaza, Dublin 2, Dublin City Centre, 
D02 E440, Ireland • Company No. 599168


+353 1 905 32 14
hello@quantpayment.com
www.quantpayment.com

QUANT Digital Limited
One George's Quay Plaza, Dublin 2,
Dublin City Centre, D02 E440, Ireland
Company No. 599168

+353 1 905 32 14
hello@quantpayment.com
www.quantpayment.com

QUANT Digital Limited is a strategical partner of Peak Card Services Limited, a registered distributor of DiPocket Limited (Suite 532, Metal Box Factory, 30 Great Guildford Street, London, SE1 0HS, UK) which is an Electronic Money Institution authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (900010) for the issuing of electronic money and payment instruments.

The QUANT contactless prepaid debit card is issued by DiPocket Limited pursuant to a license by Mastercard International for the European Economic Area. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Copyright © 2019 QUANT Digital Limited. All rights reserved.

Copyright © 2019 QUANT Digital Limited.
All rights reserved.