Corporate Charge Card
User Guide PLEASE RETAIN THIS FOR YOUR REFERENCE. GUIDANCE ON USING THIS LEAFLET Your Velos Corporate Charge Card can help you simplify the management of business expenses while staying in control. The following pages give you a step-by-step guide to using your Velos Corporate Charge Card, whether you will be using the card yourself, or managing the Business Charge Cards within your business. If you will be using the card yourself, please refer to section 1 – ‘Business Charge Card User.’ If you are responsible for the cards in your business, please also refer to section 2 – ‘Business Representative’. CONTENTS 1. Business Charge Card User 1 Welcome to your Business Charge Card 1 Chip and PIN 1 Changing your PIN 1 How to use your card 2 Your spending limit 2 Renewing your card 2 Making payments abroad 3 ‘Card Not Present’ transactions 3 Lost or stolen cards 3 Declined transactions 4 Stopping a card 4 Cash withdrawals and foreign exchange transactions 4 2. Business Representative Introduction 4 Your role as the Business Representative 5 Using the Velos Corporate Charge Card 5 Cash withdrawals and foreign exchange transactions 6 Invoices and payments 6 Management information 7 Lost or stolen cards 7 Changing details and spending limits 8 How to get a card for a new employee 8 How to cancel a card 8 Renewing cards 9 Lost or stolen confidential information 9 Protecting your account 9 How to cancel your Velos Corporate Charge Card Account 9 Our fees 9 Customer complaints 10 Financial Ombudsman Service 10 More information and queries 10 1 1. Business Charge Card User Welcome to your Business Charge Card Your Business Charge Card is enclosed with this User Guide. Please sign the card immediately. Before using your card you will need to confirm your Personal Identification Number (PIN). You can do this by calling 0333 332 6665 and following the instructions provided. You will need the activation code printed on the letter sent with your cards and some items of personal information to create an account for yourself and you will then be able to retrieve your PIN. If ever you forget your PIN you can also receive a reminder by calling the same number. Please memorise your four digit PIN and never keep a record of it with your card. Do not disclose your PIN to any other person including colleagues in your business, bank staff or the police. Only you are authorised to use the card. It is your responsibility to keep your card safe and secure. Your card will make it easier for you to make business purchases that you would normally pay for with a business cheque or even your own cash, and then claim back as expenses. From the first time you use it, you’ll see just how easy and convenient paying for your purchases becomes. Chip and PIN Your card includes a chip which holds your Personal Identification Number (PIN). When you use your card, you will be asked to authorise the transaction by entering your four digit PIN into a PIN pad at the till. The number you enter is matched with the one held on the chip in your card and if the match is correct the transaction will continue. If you make a purchase from a retailer who has not installed a PIN pad, they will swipe the card and you will authorise the transaction by signing the receipt. If you are unable to use a PIN because of a disability or a medical condition, please let us know. We will be happy to give you alternative options to ensure you can use your Velos Corporate Charge Card in retail outlets. For more information on chip and PIN, go to www.ukpayments.org.uk or www.financialfraudaction.org.uk Changing your PIN Your PIN is personal to you. So if you prefer to choose your own PIN, you can do this at most bank cash point machines by selecting ‘PIN Services’. Please choose a number that you will not forget but one that is difficult for others to guess. 1 Please note: With a replacement or a re-issued card, you cannot change the PIN for a period of 30 days after the card is sent to you.
How to use your card »» You can use it wherever you see the MasterCard® sign, anywhere in the world dependent upon the usage options selected for your card by your Business Representative. If you are unsure where your card can be used, please confirm with your Business Representative. »» You authorise a transaction when you use the card or card details with the PIN or security code and any ‘proceed’ key is pressed. Once the ‘proceed’ key is used authorisation cannot be withdrawn. Transactions can also be authorised by signing a sales voucher. Once the sales voucher has been accepted by the retailer or the provider of the cash withdrawal your authorisation cannot be withdrawn. »» Dependent upon the facilities that have been ordered for your card by your Business Representative, you may also be able to use your card to make payments over the phone or on the internet. Please refer to the “Card Not Present Transactions” section below for more details. »» It’s also important to keep track of every transaction you make by retaining all of your sales vouchers and VAT receipts. This will make it easier for your accounts department to cross-check the transactions on your weekly invoice and to reclaim any tax. »» Each week your Business Representative will get an invoice showing how much you’ve spent and where you’ve spent it. »» Your business will settle your weekly outstanding balance. All you need to do is follow your business’ policy on sales vouchers and VAT receipts.
Your spending limit The maximum amount you can spend each month has been agreed by your business. If you go over this amount on a purchase, the transaction could be declined, as would any further transactions. If you think you need to increase your limit, you should speak to your Business Representative who is in charge of administering the Velos Corporate Charge Card Account on behalf of your business.
Renewing your card We will automatically issue a renewal card a few weeks before the expiry date of your current card. Once your renewal card is ready to be used, please destroy your old card by cutting off the corner through the chip. Please do not return old cards to us. If your renewal card does not arrive before your current card expires, please inform your Business Representative. 2 Making payments abroad If your Business Representative has enabled your card to be used abroad and you then subsequently make a card purchase abroad, the retailer may ask you if you would like to pay in local currency or Sterling. If you choose Sterling, the merchant is likely to apply their own exchange rate. This may include a mark-up and may not always be a favourable rate. You may prefer to accept the transaction in local currency and let us handle the conversion for you through the MasterCard rate on the day the transaction is applied to your account. In each case the transaction is subject to a 2.99% non-sterling transaction fee.
‘Card Not Present’ transactions If your Business Representative has enabled your card to be used to pay for transactions made over the phone or on the internet (‘Card Not Present’ transactions) where the cardholder is not physically present to enter a PIN or sign a sales voucher some additional security measures have been introduced in order to make these purchases as secure as possible. When you make a ‘Card Not Present’ transaction, you’ll be asked to confirm: »» Your full postal address as it appears on the card invoice (this will almost certainly be your primary corporate business address). »» The last three digits of the security code. This is the number printed on the back of your card in the ‘authorised signature’ panel. This number changes when your card is changed for any reason, for example, on renewal.
To avoid having a transaction declined, please ensure you know this information in advance. Remember that you will be deemed to have authorised a “Card Not Present” transaction as soon as you have provided the details for the transaction and confirmed the payment.
Lost or stolen cards If your card is lost or stolen, or if the PIN becomes known to another person, you must notify us as soon as possible:
Telephone 0333 332 6665 wherever you are in the world, confirming in writing within 7 days to: Velos Corporate Chargecard, Eurocard Centre, Herald Park, Herald Drive, Crewe, Cheshire, CW1 6EG.
If the card is found after it has been reported lost or stolen, it must not be used again. You should immediately cut off the corner through the chip and dispose of the pieces. 2 3 Declined transactions If a transaction is declined at point-of-sale and you wish to know the reason, please contact Customer Services on 0333 332 6665 wherever you are in the world. Please note, we will not be liable for any loss to you as a result of any declined transaction for any reason.
Stopping a card If we have to stop your card for any reason we will generally give you prior notice.
Cash withdrawals and foreign exchange transactions There is a charge for cash withdrawals, which is 3% of the transaction value (minimum £3.00). Unlike on most credit cards, cash withdrawals are not subject to interest charges. Please note, card transactions undertaken to obtain travellers’ cheques and foreign currency as well as those associated in any way with gambling where this is enabled on the card will be treated as a cash withdrawal and the relevant charge will be applied on each and every transaction. Additionally, some providers may also charge your business a fee for using their facilities, particularly in the case of cash machines. Transactions in a foreign currency, including cash withdrawals and purchases, are subject to a 2.99% non-sterling transaction fee. Sterling cash withdrawals from travel bureaux or other outlets providing similar services both in the UK and overseas may also be treated as a foreign exchange transaction and will be subject to a 2.99% non-sterling cash transaction. Please refer to ‘Our fees’ section for full details. If you need to obtain details of the reference rate used to convert transactions into sterling, please contact Customer Services. This rate is applied on the day the transaction is added to your account.
2. Business Representative Introduction Your business has decided to help simplify the management of business expenses by issuing our Velos Corporate Charge Card to your staff. The Velos Corporate Charge Card is a practical, convenient and cost-effective way for businesses to pay for everyday expenses, for instance, stationery, petrol, hotels, car hire, train and plane tickets. One of the greatest benefits of the Velos Corporate Charge Card is the control it gives over who in your business uses it, how much they’re allowed to spend and what types of transactions they are allowed to carry out. You can see how much each person is spending and on what via our weekly invoice and online account management application. 4 There are other practical benefits as well: »» You can get a period of interest-free credit (subject to the terms agreed with you) . »» You’ll have fewer invoices to reconcile and settle, and less need for petty cash. »» You no longer need second signatories as you would for business cheques. »» You don’t have to open accounts for suppliers and spend time providing trade references. If they accept MasterCard, and millions of outlets worldwide do, they’ll accept the Velos Corporate Charge Card. »» Your administration costs can be reduced because there’s no need for purchase orders or credit authorisations. The information in this brochure will give you full details of the Velos Corporate Charge Card and what you, as the Business Representative, need to do to make it work efficiently and effectively in your business. Please read it carefully: it will help you when you brief cardholders and also when you need to answer any queries.
Your role as the Business Representative As the person responsible for administering the Velos Corporate Charge Card in your business, you are the main point of contact for your staff and for us, and there are certain basic details to be taken care of immediately:
»» Record the details of all cardholders in your business. »» Brief cardholders on their responsibilities regarding their Business Charge Card and the restrictions, both individual and business, that apply to its use. »» Make sure that all the Velos Corporate Charge Cards are distributed to the appropriate cardholders and that they are signed immediately. »» Explain to all cardholders that you are their main contact for any questions or problems that may arise. »» Ensure that authorised signatories sign all forms. Using the Velos Corporate Charge Card Each cardholder may only use their card for business expenses within their individual cardholder limit, set by the business. The total of all individual cardholder limits must not exceed the overall limit, which has been agreed by your business and us. If any cardholder uses their Velos Corporate Charge Card to make a foreign currency transaction, the amount of the transaction will be converted and debited to their account in sterling at the rate of exchange prevailing at the time, plus a 2.99% non-sterling 5 transaction fee. For information on other charges please refer to page 4.
Cash withdrawals and foreign exchange transactions There is a charge for cash withdrawals, which is 3% of the transaction value (minimum £3.00). Unlike most corporate cards, cash withdrawals are not subject to interest charges. Please note, card transactions undertaken to obtain travellers’ cheques and foreign currency as well as those associated in any way with gambling will be treated as a cash withdrawals and the relevant charge will be applied on each and every transaction. Additionally, some providers may also charge your business a fee for using their facilities, particularly in the case of cash machines. Transactions in a foreign currency, including cash withdrawals and purchases, are subject to a 2.99% non-sterling transaction fee. Sterling cash withdrawals from travel bureaux or other outlets providing similar services both in the UK and overseas may also be treated as a foreign exchange transaction and will be subject to a 2.99% non-sterling cash transaction. Please refer to ‘Our fees’ section for full details. If you need to obtain details of the reference rate used to convert transactions into sterling, please contact Customer Services. This rate is applied on the day the transaction is added to your account.
Invoices and payments We will send your business an invoice for payment once a week with details of transactions made by each cardholder and any relevant charges. The total (all transactions and charges) will be paid by Direct Debit from your business current account on a schedule subject to the payment terms agreed with you. If there are any arrears or excess over your business’s total limit you will be notified, and the payment agreed. If you think there is an error on your business invoice, please call us on 0333 332 6665 and let us know the details of your query. You should then confirm these details in writing within 30 days after we sent your first invoice on which the error appeared. Please let us know: »» Your Velos Corporate Charge Card account number. »» The cardholder name. »» The transaction date. »» The transaction reference number. »» The amount in question. »» Your signature.
6 7 Please send any letters to Velos Corporate Card Customer Services, Eurocard Centre, Herald Park, Herald Drive, Crewe, CW1 6EG. Management information In addition to your invoices, you will also be able to produce transaction reports out of our on-line management application, Velocity. Here you can understand what you are spending as a company with which suppliers. It could give you the information you need to identify areas where you might make significant cost reductions, for instance to negotiate reduced rates because of the amount you are spending with a particular supplier. Lost or stolen cards If a Velos Corporate Charge Card is lost or stolen, or if the PIN becomes known to another person, you or the cardholder must notify us as soon as possible:
Telephone 0333 332 6665 if you’re in the UK, or abroad, confirming in writing within 7 days to: Velos Corporate Card Customer Services, Eurocard Centre, Herald Park, Herald Drive, Crewe. CW1 6EG. By reporting the Velos Corporate Charge Card loss to us, cardholders can be confident that, at home or abroad, help is close at hand. If a Velos Corporate Charge Card is found after it has been reported, it must not be used, but the corner should be cut off immediately through the smartcard chip and disposed of. If the business or cardholder acts fraudulently or without reasonable care, the business will be responsible for all losses arising from the use of the Velos Corporate Charge Card. Unless we can show that the business or a cardholder has acted fraudulently or without all reasonable care in keeping a card or card details safe and in accordance with our security requirements you will not have to pay anything: »» In respect of the use of any Velos Corporate Charge Card that is lost or stolen but you must tell us as soon as you become aware of such loss or theft; »» In respect of the use of any Velos Corporate Charge Card that is used before you receive it; or »» In respect of the use of the Velos Corporate Charge Card or
6 7 »» the Velos Corporate Charge Card details for a transaction where the cardholder does not need to be present.
Recurring transactions (also known as continuous payments) There are regular payments like magazine subscriptions that could be made by your Velos Corporate Charge Card accounts that are not protected by the Direct Debit Guarantee Scheme. They can be set up by phone, letter or online. To cancel a recurring transaction, it’s best to let the person you’re paying know and give them enough notice to be able to cancel payments or to arrange an alternative payment method. By cancelling a recurring transaction you will have withdrawn authorisation for future transactions, and we will treat any future transactions pursuant to that arrangement as unauthorised. If a payment is collected in error, please contact Customer Services who will do their best to sort things out for you.
Changing details and spending limits Whenever you wish to change any of the existing details or apply to have your business limit increased, please contact Customer Services. Amendments to cardholders’ details will usually be effective within ten business days of receiving your instruction. Any increase to a cardholder’s limit will not be permitted to take your business’ overall total above the business limit agreed with us. To increase the limit on an individual card, you will either need to apply for the overall corporate credit limit to be increased or you will need to reduce the card limit on another Velos card held by your company. In either of these instances, please contact Customer Services who will be happy to help.
How to get a card for a new employee If you wish to apply for a Velos Corporate Charge Card for someone new in your business please contact Customer Services. Should this request be approved, the new card will be sent to you, usually within two weeks.
How to cancel a card When someone who has had a Velos Corporate Charge Card leaves your business, please be sure to get the card back so you can cancel it. Otherwise you might be liable for the costs of unauthorised purchases. Please also ensure that you cancel any recurring transactions by telling the originator (give as much notice as possible). Once you have the card, please cut off the corner through the chip and dispose of it, sending written confirmation to us that the card has been destroyed.
8 9 Renewing cards We will automatically issue renewal Velos Corporate Charge Cards. These cards can be used by your cardholders as soon as they receive them – they don’t have to wait for the expiry date of the existing card. The old card should be disposed of by cutting off the corner through the chip. Please don’t return expired cards to us. If the renewal card does not arrive before your current card expires, please inform Customer Services.
Lost or stolen confidential information Your post is valuable information if it gets into the wrong hands. Contact us if you don’t receive an invoice (although these will usually by emailed to you), card statement or any other financial information that you’re expecting.
Protecting your account Be careful when storing or getting rid of information about your accounts. People who commit fraud use many methods such as ‘bin raiding’ to get this type of information. Shredding printed material is a simple way of protecting yourself.
How to cancel your Velos Corporate Charge Card Account If you need to cancel your Velos Corporate Charge Card Account, please contact Customer Services informing them that you wish to close your account. Make no further purchases on the Velos Corporate Charge Card account and dispose of all cards by cutting off the corner through the chip. Please send us written confirmation that all cards have been destroyed. All outstanding balances will be repaid as normal by Direct Debit at the next invoice date. We will send you confirmation that the Velos Corporate Charge Card account has been closed. Please remember to cancel any recurring transactions that may be set up on the account directly with the retailer.
Our fees We will debit the following charges to your business account: »» An annual fee of £25 per Velos Corporate Charge Card. Part year fees are charged at the full annual rate. »» A Service fee of 2% of invoice amount (excluding cash). »» A handling charge for cash advances and ATM transactions of 3.0% of the amount of the transaction (minimum £3.00). »» Non-sterling transaction fee of 2.99% on all foreign currency purchases and cash withdrawals. »» Copy of sales voucher £5. »» If you use the Velos Corporate Charge Card to withdraw cash from a machine, there may be a further handling charge but this should be disclosed at the time that you make the withdrawal.
9 »» This information is correct as at October 2013. Customer complaints If you are unhappy with something we’ve done and would like to make a complaint you can: »» Call our Customer Services Team on 0333 332 6665 8.30am-5pm Monday to Friday. We’re closed on Saturday and Sunday and on all UK public holidays. »» Raise your complaint in writing with Customer Services. Velos Corporate Card Customer Services, Eurocard Centre, Herald Park, Herald Drive, Crewe. CW1 6EG. If you’re not satisfied with our handling of your complaint, and your company is a micro-enterprise with a group annual turnover or balance sheet of up to £2 million and has fewer than 10 staff, you may be eligible to take your complaint to the Financial Ombudsman Service For more information, log on to www.financialombudsman.org. uk, or contact The Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9RS. You can also contact them by telephone at:
»» +44 (0)800 023 4567 - calls to this number are normally free for people ringing from a “fixed line” phone but charges may apply if you call from a mobile phone. »» +44(0)300 123 9123 - calls to this number are charged at the same rate as 01 or 02 numbers on mobile phone tariffs. More information and queries If you have any queries about your role as the Business Representative, or would like more information about the services available through the Velos Corporate Charge Card, please call Customer Services on 0333 332 6665. You can also write to us at: Velos Corporate Card Customer Services, Eurocard Centre, Herald Way, Crewe. CW1 6EG. Please quote your Velos Corporate Charge Card account number and cardholder name (if applicable) when you contact us.
Velos is part of Radius Payment Solutions Ltd, Eurocard Centre, Herald Park, Herald Park, Herald Drive, Crewe, CW1 6EG.
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