ePayment Services

Cards

ePayment services that are in use today (PayPal, Skrill, Google Wallet, Payoneer, Playa, Quickpay, AlertPay) enable customers more secure and simpler online payments. These new-generation service providers enable users to open a free virtual account, which is then used to transfer and accept funds, and to shop online in web stores that have service agreements with above web services.

Banks, in general, do not have a direct business relationship with providers of these services, but only enable their cards to be used for these services. Therefore, user resolves all issues related to registration process, restrictions of service use, complaints related to goods or service purchases with the service provider directly.

In order for Erste bank clients to have the easiest possible insight into the way these services function, useful information and advice for seamless use of services that providers are offering, based on information available to the Bank, can be found below.

Process of Registering and Opening Virtual Account

Most service providers require the user to add a debit/credit cart to their virtual account in order to have access to all available services.

Visa Classic Debit debit card issued by Erste Bank is the best choice when registering and using these services, regardless of bank account type (for example current or giro account). Additional Benefits:

Simple to request.
Low user expenses (account fee is charged only if transactions have been executed using this account during current month).
Possible to use multiple currencies
Limited risk of misuse – only funds that exist on user’s bank account are available.

Useful Advice:

When opening your account and adding a bank card, it is very important to enter correct personal information and correct credit card information. Email address will automatically become your username, and it will be used to perform all other activities related to your user account/profile.

If user makes numerous unsuccessful attempts to enter and confirm incorrect information, e-payment services will block their account after a certain number of unsuccessful attempts, in order to prevent possible card misuse and unauthorised access. In general, virtual account user must also be the credit card owner. If user’s virtual account is blocked, user will be contacted exclusively by e-payment service provider.

Funds available on the bank account for which card being added to your virtual account should be considered during registration itself. In order for the e-payment service to check the card status and security, financial transaction is used to register your card, same as for online purchases, and sufficient funds must be available on your bank account for which the card has been issued.

When card added to your virtual account expires, you will need to add a new card issued by the Bank in order to use e-payment services in a normal fashion.

Debit/Credit Card Verification

ePayment services verify all debit/credit cards to check the authorisation/identity of the user requesting a virtual account. Verification usually requires the user to return some data sent to him/her by the service.

For example, PayPal requires you to verify your identity by entering a four-digit number/value on its website, and this verification code is generated by the service, i.e. service provider. Verification number is sent via card transaction/authorisation that will be charged on your card, and amount should be up to 3 Euro.

User of debit card issued by the Bank can see this four-digit verification number on his/her bank statement or via George.

Virtual account registration will be completed by entering this number in verification field on service provider’s website and confirming it.

After successful verification, e-payment service will generally return/repay the amount used for verification.

Account Opening, Administration and Maintenance

Account opening, administration and maintenance is simple for most services, but there are some differences in the way these services conduct their business. Terms and service fees can be found on each e-payment service website, and you are strongly advised to read and understand these.

Some service providers enable you to add funds to your virtual account using foreign currency money order (SWIFT payment), by transferring funds from one virtual account to another, or by charging the account using your debit/credit card. Incoming payments to your virtual account can also be received by selling products or services at auctions or in web stores that support e-payment service provider’s system.

Withdrawing Funds

Funds available on your virtual account can be withdrawn to your bank account by executing a foreign currency money order (SWIFT) or by using debit/credit card.

When withdrawing funds, additional verification is normally required, usually using data the user has confirmed when opening his/her virtual account, in order for the service provider to verify that appropriate person is requesting funds withdrawal.

Useful Advice:

In order to ensure that appropriate amount of funds available on your virtual account is transferred to your bank account, and to prevent potential financial losses on user’s side due to differences in conversion rates and conversion being done on service provider’s side, we suggest that you contact service provider’s customer service and request your account to be updated.

Online Shopping

Online shopping using these services in webstores that support them is very simple.

Your virtual account will be charged, providing that sufficient funds are available. Purchases can also always be executed using debit/credit card that you have added to your virtual account. Some service providers allow using unregistered cards when shopping, provided that you enter all information requested by the service.

The payment of online purchases related to debit cards of the bank takes place in accordance with the corresponding General Terms and Conditions.

Useful Advice:

PayPal usually converts webstore’s currency (Dollar, Euro, Pound) to Euro using their own exchange rate list.

Bank advises you to select “Other Conversion Options” feature before payment is executed, and to request to be charged in webstore’s own currency (“Bill me in the currency listed on the seller's invoice”), in order to avoid multiple conversions that will result in a financial loss on your side.

ePayment Services

Erste cards enable you to use most popular online payment services.