Jupit Crypto Virtual Card: Understanding Usage Terms and Charges
Navigating the digital landscape of financial transactions is made simple and secure with your Jupit Virtual Card. Understanding the terms of usage and associated charges is essential for optimizing your experience with this powerful financial tool. Let's explore the details that contribute to a seamless journey with your Jupit Card.
Card Fees:
- Card Issuing: To create your Virtual Card, a nominal fee of $4 is charged. This comprises a $2 card creation fee, with an additional $2 automatically funded to your card after creating it.
- Card Funding & Card Withdrawal: When you add money to your card, we charge a 1% fee from your crypto wallet and if you withdraw money from your card to your crypto wallet, the transaction fee is 2%. This fee is taken directly from your cryptocurrency wallet.
- Monthly Maintenance Fee: A monthly maintenance fee of $1 is applicable, whether your card is actively in use or temporarily frozen.
- Foreign Exchange Transactions Fee (Outside USA): When using your card for transactions outside the US, a 3.5% exchange fee, a $0.5 processing fee will apply. These fees will be deducted directly from your card balance.
For example, if you spend $100 in a country outside the USA, a foreign exchange fee of 3.5% of your purchase amount plus an extra $0.5 is applied. This fee is taken directly from your card to handle the processing and settling of your payment in the currency you used. Keep in mind, that we do not have control over this things and in some unique cases, this fee may apply even if the merchant is in the USA but uses a payment/settlement gateway that is outside the US.
Card Balance & Limits:
- Transaction Limit: The minimum amount that can be added to a card is $5 in a single card funding transaction, whilst the maximum amount is $1,000 in a single card funding transaction.
- Maximum Card Balance: The card is designed to only hold a maximum balance of $10,000 at a time. Funding won't be allowed until the card balance is spent below this limit.
- Minimum Card Balance: You're required to maintain a minimum card balance of $1 at all time to ensure optimal functionality of your card.
Fee Processing:
- Fees Handling: Card fees are directly deducted from your card balance. In cases of insufficient funds, an exchange will be executed from any of your base wallet to cover the deficit.
- Insufficient Funds: If your card balance is less than the funds required to complete the transaction, an exchange will be initiated from any of your wallets to offset the negative balance.
Card Spending:
- Insufficient Funds: Initiating a transaction without adequate balance incurs a penalty fee of $0.35, directly debited from your card balance.
For example, if you have a recurring Netflix bill due on the 1st of every month and your card balance is insufficient, the transaction fails, triggering the $0.35 fee. We directly deduct this fee from your card. If your card has no funds, it goes into negatives, and we cover the negative balance by taking the fund from any of your base wallet. This ensures your account remains in good standing.
- Negative Balances: If your card doesn't have enough money to cover fees, it goes into negative and will be rectified by exchanging from your base wallet. However, if there's no money in any of your other wallets to clear the negative balance, your card automatically gets deleted after three failed attempts.
Card Termination:
Inactive cards are deleted after three months if not funded to prevent maintenance fee accumulation.
Card Usage Agreement
The act of utilizing your Jupit Card implies agreement with these terms. It's essential to note that Jupit reserves the right to modify any aspect of these terms, ensuring transparency and fairness, with prior notice.
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