Visa Supplementary Terms and Conditions
Effective from November 25, 2020
1. Supplement to Neat Master Terms
1.1. Supplement. These Supplementary Terms for the Neat Visa Card in Hong Kong (HK Visa Card Supplementary Terms) are Advanced Services available for select Hong Kong Customers and supplement the Neat Master Terms and Hong Kong Terms relating use of the Neat Services. These HK Visa Card Supplementary Terms, together with the Neat Master Terms and Hong Kong Terms govern the use of Neat Visa Cards by you and your Employee Cardholders. Unless otherwise defined in these HK Visa Card Supplementary Terms, all capitalised terms have the meaning given in the Neat Master Terms and Hong Kong Terms.
1.2. Effect. You agree that these HK Visa Card Supplementary Terms supplement the Neat Master Terms and Hong Kong Terms and the terms set out in this HK Visa Card Supplementary Terms will have immediate effect.
2.1. Coverage. These HK Visa Card Supplementary Terms apply to your Neat Visa Card Facility and each Neat Visa Card issued by us. These terms are legally binding on you and your Employee Cardholders. You are responsible for ensuring that each Employee Cardholder reads and understands these HK Visa Card Supplementary Terms.
2.2. Acceptance. You or your authorised Business Admin agree to these HK Visa Card Supplementary Terms when you invite your first Employee Cardholder to apply for a Neat Visa Card. By clicking “confirm” (or similar prompt) you are agreeing to be bound by these HK Visa Card Supplementary Terms.
2.3. About the Neat Visa Card. Our Neat Visa Card and Neat Visa Facility is offered to you by Neat Limited (Neat), which is a company incorporated in Hong Kong with company number 2312276 and whose registered office is at 10/F, China Hong Kong Tower, 8-12 Hennessy Road, Wan Chai, Hong Kong. Neat Limited holds a Money Lender’s Licence (0464/2020) in Hong Kong and is licenced as part of the Visa network, with Visa Worldwide Private Limited.
2.4. Territory. The Neat Visa Card is only issued to qualified Neat Hong Kong Customers, and may be used anywhere in the world where Visa-branded cards are accepted as a payment method.
3. How to issue Neat Visa Cards
3.1. Submit a request. You or your Business Admins can, via your Neat Dashboard, request Neat to issue an invitation to any of your employees to apply for a Neat Visa Card. We are entitled to regard any person nominated as your Business Admin as having your full authority to act on your behalf.
3.2. Types of Neat Visa Card. You or your Business Admins can choose to issue a virtual or physical Neat Visa Card, and may choose a settlement Base Currency. Each physical and virtual Neat Visa Cards are separate cards with their own unique card number.
3.3. Application. Upon receiving the invitation, your employee may submit an application for a Neat Visa Card and complete the onboarding procedures in the Neat Card App.
3.4. Compliance checks. Employees who apply for a Neat Visa Card must provide us with information that we request for us to carry out anti-money laundering and counter-terrorism and other risk management checks and verification in accordance with Applicable Laws and our internal policies and procedures.
3.5. Approval. A Neat Visa Card will only be issued to your employees who have been approved by us.
3.6. Correct and up-to-date information. You and your Employee Cardholder each confirms that the information provided to us is true, accurate and complete. You and your Employee Cardholder are responsible to ensure the information provided is up-to-date at all times. Please notify us immediately if any information provided has changed. We reserve the right to conduct any additional compliance checks where there is a change of information. Any Loss arising out of any mistakes or incorrect information provided will be your and/or your Employee Cardholder’s sole responsibility.
3.7. Sign-up. Your Employee Cardholder must agree to these HK Visa Card Supplementary Terms by clicking the “confirm” button (or similar prompt) on the Neat Card App as part of the Employee Cardholder onboarding process.
3.8. Physical card activation. Upon receiving the physical Neat Visa Card, your Employee Cardholder must activate the Neat Visa Card promptly via the Neat Card App. The Employee Cardholder must sign the back of the physical Neat Visa Card immediately – they will not be able to use the Neat Visa Card until the card has been activated.
3.9. Physical card delivery. The physical Neat Visa Card will be delivered to the Employee Cardholder’s address within seven (7) Business Days for Hong Kong addresses; and as soon as reasonably possible for international addresses.
3.10. Virtual card activation. Upon receiving email notification approving the Employee Cardholder application, the virtual Neat Visa Card will be immediately available for use in the Neat Card App.
4. Using the Neat Visa Card
4.1. Use. The Neat Visa Card is a credit card which can be used to pay for goods and services in person, online and over the phone at any merchant physical locations or digital stores (including on e-commerce platforms, merchant’s websites or apps operated by the merchants), where Visa is accepted as a payment method. The Neat Visa Card may also be used to withdraw cash advances from ATMs bearing the Visa network brand, locally in Hong Kong and internationally, subject to applicable fees and charges as set out in the Fees.
4.2. Failed and declined transactions. We are not responsible for any decision by a merchant to accept or reject the use of a Neat Visa Card or for any charges incurred by any user of a Neat Visa Card who does not, in fact, have authorisation from you to use the Neat Visa Card.
4.3. Unlawful use. We may, at our sole discretion, delay, decline, reverse, suspend or cancel any use of the Neat Visa Card in circumstances including, but not limited to any transaction that in our view:
4.3.1. may breach any laws or regulations in Hong Kong or any Applicable Laws of any other country;
4.3.2. may involve any person (natural, corporate or governmental) that is itself sanctioned or is connected, directly or indirectly, to any person that is sanctioned under economic and trade sanctions imposed by the United States, the European Union or any country;
4.3.3. may directly or indirectly involve the proceeds of, or be applied for the purposes of, unlawful conduct; and
4.3.4. relates to Restricted Services.
4.4. Exchange rates. If a Neat Visa Card is used for a transaction in a currency other than your Neat Visa Card’s Base Currency, then the transaction currency will be converted into the relevant Base Currency, at Visa’s then-current exchange rate, plus any fee levied by Visa and us in accordance with the Fees. The estimated applicable exchange rate and conversion amount will be displayed at the time of transaction.
4.5. Neat property. The Neat Visa Card remains our property at all times. All physical Neat Visa Cards must be returned to us upon our request.
4.6. Non-transferable. Each Neat Visa Card can only be used by you and your Employee Cardholder, you can’t transfer it to another business or person. We may refuse to process your transactions with no notice if you allow another business or person to use your Neat Visa Card.
5. Your Visa Card Rewards
5.1. Rewards. Neat may offer rewards for using the Neat Visa Card from time to time. If Neat offers any rewards program, additional terms will apply and they will be set out on the Website.
5.2. Cash back limits. Where a reward is a cash back reward, it does not include any canceled or refunded transactions, or any other transaction that we consider ineligible, which may be determined entirely at our own discretion.
6. What is your Credit Limit and Card Limit?
6.1. Credit Limit. You can not exceed the Credit Limit set by Neat. We may review, adjust or cancel your Credit Limit at our discretion. We may, but are not obliged to, provide you with a Credit Limit that exceeds the total available cash balance in your Neat Multi-currency Wallet. For the avoidance of doubt, the Neat Visa Card is not a debit card.
6.2. Card limits and automatic repayments. You or your Business Admin, will need to set a Card Limit in your Neat Visa Card’s Base Currency for each Neat Visa Card on the Neat Dashboard. Subject to Clause 6.6 (Release of Reserved Balance), an amount, in your Base Currency, equivalent to the Card Limit you set will then be reserved in your Neat Multi-currency Wallet (Reserved Balance) in respect of each Neat Visa Card which will not be available for use (including withdrawals or payments) other than for the purposes set out in this Clause 6.2. For each Neat Visa Card, you authorise us to use the Reserved Balance in respect of that Neat Visa Card to set-off and deduct against any amounts due and payable to us for transactions (as well as interest, costs, fees and other amounts payable) made using that Neat Visa Card, at any time after Neat settles with Visa. Amounts you owe on a Neat Visa Card become due and payable once the transaction is authorised by Visa. The timing for Neat’s settlement with Visa is generally two days after a Neat Visa Card transaction has been authorised. The Reserved Balance in respect of a Neat Visa Card will only be available to repay transactions made using that Neat Visa Card. On the first day of each month, to the extent the Reserved Balance in respect of a Neat Visa Card on such day is lower than the Card Limit determined by you or your Business Admin in accordance with Clause 6.3 (Allocation of Card Limits) below, you authorise Neat to reserve additional funds from your Neat Multi-currency Wallet as the Reserved Balance such that the Reserved Balance will be restored to the maximum Card Limit allocated for that Neat Visa Card. If there are insufficient funds in the Neat Multi-currency Wallet, Neat will not restore your Card Limit, i.e. the Card Limit will be set as the unused amount of Card Limit remaining for that Neat Visa Card.
6.3. Allocation of Card Limits. You or your Business Admin are responsible for allocating a Card Limit for each Neat Visa Card issued to your Employee Cardholders. You can increase and decrease the Card Limit in respect of each Neat Visa Card at your discretion, to the extent that the aggregate Card Limits of all Neat Visa Cards issued to you and your Employees does not exceed the total available balance in your Neat Multi-currency Wallet.
6.4. Observe Card Limits. You must ensure that your Employee Cardholders observe the Card Limits at all times. We may refuse to process any transaction which, in whole or in part, exceeds such limits at our sole discretion. However, we also have discretion to process such transactions without notice to you, provided that the total Credit Limit is not exceeded.
6.5. Reject transactions. We also reserve the right not to process any Neat Visa Card transaction even though it would not cause a Card Limit or your Credit Limit to be exceeded ,including but not limited to the circumstances set out in Clause 4.3 (Unlawful use).
6.6. Release of Reserved Balance. The Reserved Balance forms part of the Neat Multi-currency Wallet and where a Neat Visa Card has not been used within a reasonable amount of time and in any event within a maximum period of 90 days from the day Reserved Balance was first being credited to the Neat Multi-currency Wallet (being the Holding Period), we may at our sole, at any time after the Holding Period, release any Reserved Balance in the Neat Multi-currency Wallet in respect of that Neat Visa Card for withdrawal in accordance with Schedule 2, Clause 6 (Withdrawal of funds) of the Terms or otherwise dispose of the unused Reserved Balance amount in accordance with your instructions.
7. How transactions are authorised
7.1. Authorised and valid transactions. Subject to Clause 12 (Lost or stolen cards), you and your Employee Cardholder acknowledge that the following transactions are authorised and valid transactions when using the Neat Visa Card:
7.1.1. presenting the Neat Visa Card to a merchant and signing a receipt (or similar document) for that transaction;
7.1.2. tapping the Neat Visa Card at a merchant’s point-of-sale terminal with contactless technology;
7.1.3. providing the Neat Visa Card number and any other information required to a merchant, either directly or via a third party, over the phone or online;
7.1.4. withdrawing any cash advance from an ATM using the PIN; and
7.1.5. any other ways permitted by us from time to time.
7.2. Review your transactions. Unless stated otherwise in these HK Visa Card Supplementary Terms, we are not responsible for making any enquiries as to any use of the Neat Visa Card and the associated transactions, by your Employee Cardholders or otherwise. You should check your transaction history regularly.
7.3. Secure use. You and your Employee Cardholder must take necessary precautions to safeguard the use of the Neat Visa Cards, including:
7.3.1. ensuring that PINs are kept secure and, for example, not written on a physical Neat Visa Card or kept together with a physical Neat Visa Card;
7.3.2. ensuring that the Employee Cardholder does not share their PIN or other details required to use the Neat Visa Card with any other person;
7.3.3. ensuring that secure PINs are set (for example, not using PINs based on date of birth or other easily accessible information);
7.3.4. ensuring that only the relevant Employee Cardholder uses the Neat Visa Card; and
7.3.5. ensuring any virtual card numbers are kept securely and away from public display.
8. How can you verify and view your transaction history?
8.1. View transactions history You and your Business Admin can access all your Neat Visa Cards transaction history at any time through the Neat Dashboard. Your Employee Cardholder can view the transactions for their specific Neat Visa Card by the Neat Card App.
8.2. Transaction records. Subject to Clause 13 (Reversing a transaction) below, the transaction records on the Neat Dashboard shall be conclusive evidence of the accuracy and authenticity of the transactions and shall be binding on you and your Employee Cardholders for all purposes.
9. How will you make repayments?
9.1. Pay all amounts owing. You must pay us all amounts owing in relation to all Neat Visa Cards. Usually, repayments will be automatic as we will apply the corresponding Reserved Balance allocated to each Neat Visa Card standing to the balance of your Neat Multi-currency Wallet to the debts owing by you or your Employee Cardholder in relation to that Neat Visa Card, as set out in Clause 6.2 (Card limits and automatic repayments). If, for any reason, the Reserved Balance allocated to a Neat Visa Card standing to the balance of your Neat Multi-currency Wallet is insufficient to discharge such debts in full, we may exercise our right under Clause 10.1 (Sett-off) of these terms and/or request immediate settlement of any such outstanding amount by you.
9.2. Currency of repayments. Any repayment to us must be made in your Base Currency. We will only regard payments as having been made when we have actually received the relevant funds. If for any reason, any repayment to us is not made in your Base Currency, Neat may convert any money it receives or recovers to the relevant Base Currency using Neat’s then-current exchange rate.
We may charge you a fee for performing the Exchange transaction in accordance with our Fees.
9.3. Charges. We may charge fees, charges and interest in accordance with the Fees for the time being in force, which will be automatically deducted from your Neat Multi-currency Wallet, as required.
10.1. You agree that we are entitled, at any time and without prior notice to you, to combine or consolidate the available cash balance maintained by us for you, and set off or transfer any money standing to the credit of any such account in or towards settlement (whether in full or in part) of any amount owing by you to us in connection with any Neat Visa Card transactions under your Neat Visa Card Facility. For the purposes of this Clause, we may make any necessary currency conversions at the rate Neat considers appropriate.
11. Managing your Neat Visa Cards
11.1 Neat Dashboard and Neat Card App. You can perform the following functions and manage your Neat Visa Cards via the Neat Dashboard or the Neat Card App (some of these functions are only available on the Neat Dashboard or Neat Card App):
11.1.1. send an invitation for an application for a Neat Visa Card to any of your employees;
11.1.2. set and vary the Card Limit for any Employee Cardholder;
11.1.3. update your details;
11.1.4. view the transaction history of all Neat Visa Cards;
11.1.5. replace, block or terminate any Neat Visa Card; and
11.1.6. carry out other actions as permitted by the Neat Dashboard or Neat Card App from time to time.
12. What if you lose your Neat Visa Card or someone else uses it?
12.1. Lost or stolen card. You and/or your Employee Cardholder must notify us immediately if you become aware that the Neat Visa Card, its details (such as the card number,expiry date or CVV code) or security credentials like the PIN may have been lost, stolen, disclosed to an unauthorized party or compromised in some way. You can notify us as set out in the Neat Master Terms.
12.2. You are liable for any charges until you provide us with notice of a lost or stolen Neat Visa Card. Once you notify us, we will as soon as practicable freeze or cancel the relevant Neat Visa Card so that no further transactions can be made using that card.
13. Reversing a transaction
13.1. Reversing a transaction. We may be entitled to seek to reverse transactions made through your Neat Visa Card where you have a dispute with the merchant that supplied the goods or services. For example, where you have paid for a good or service, but there was no delivery of the goods or services and your attempt to get a refund from the merchant was unsuccessful.
13.2. To avoid losing any rights you may have to dispute such a transaction, you should:
13.2.1 tell us as soon as possible after the date of the transaction; and
13.2.2 provide us with any information we ask for to support your request.
13.3. Investigation of misuse. Generally, under Visa’s operating rules Neat must lodge a fully detailed claim on your behalf within 120 days of the date of the transaction. If you do not notify us immediately and provide us with sufficient information, we may not be able to investigate or lodge a claim in time in which case you will be liable for the transaction. It is your responsibility to review carefully your transaction history. We are not responsible for any loss to you if you do not ask us to reverse a transaction in time.
13.4. If, after investigation, we are satisfied that you are entitled to reverse a transaction, the amount initially settled for the transaction will be credited to your Neat Multi-currency Wallet in the original currency of the transaction. If the original transaction is not the Base Currency of your Neat Visa Card, the amount will be converted using the prevailing Visa exchange rate at the time of the chargeback.
13.5. To notify us of a disputed transaction, please contact us as set out in the Neat Master Terms and we will then ask you for the required information to process your claim.
14. Your liability to us
14.1 General liability. You are liable for all transactions made by you and Employee Cardholders using the Neat Visa Card, until such time the card expires or is cancelled. You must pay us on demand all outstanding amounts owing on the Neat Visa Cards (including any interest, costs, fees and other amounts payable). You are jointly and severally liable with each Employee Cardholder for the portion of the outstanding balance that relates to that specific Employee Cardholder’s Neat Visa Card.
Some transactions can be made without a signature (for example orders placed by telephone or electronic means or transactions made with contactless technology). If your Employee Cardholder signs a receipt or other document to authorise a transaction, you are still responsible if any issues arise from that transaction and repayment of the amount of that transaction. If a transaction is made using a signature other than the signature on the Neat Visa Card, you are still responsible for any issues that arise from that transaction and repayment of the amount of that transaction.
14.2. No waiver. If there is more than one Employee Cardholder, any invalidity, unenforceability, release or discharge of the liability of any Employee Cardholder to us shall not affect the liability of any other Employee Cardholder to us.
14.3. Recovery of debts. We may at our discretion assign any or all sums owing to us in connection with a Neat Visa Card to any third party agency engaged by us (including any debt collection agency, credit management organisation or solicitor) for debt recovery. To the extent permitted by Applicable Law, you and your Employee Cardholder shall jointly and severally indemnify us for all debt recovery costs and expenses that we incur.
14.4. Indemnity. To the extent permitted by Applicable Law, you and your Employee Cardholder and any other authorised person shall indemnify us and keep us indemnified against any loss, expense, fee, cost or liability suffered or incurred by us as a result of or in connection with:
14.4.1 any non-observance or breach of the obligations under these Terms by you and/or any Employee Cardholder;
14.4.2. any information supplied in relation to the application for or use or loss of the Neat Visa Card being invalid, incorrect, incomplete or inaccurate; or
14.4.3. any negligence or fraud or other misconduct on the part of you and/or any Employee Cardholder,
including but not limited to legal fees and debt collection agency handling fees, together with all costs, charges, interest, penalties and expenses incidental or relating to it.
15. Your rights and our rights to terminate or suspend your Neat Visa Cards
15.1. Your rights to terminate. Without impacting any rights, obligations or liabilities owed by you and/or Employee Cardholders to us prior to the date of termination:
15.1.1. you may terminate your Neat Visa Card Facility or any Neat Visa Card at any time by giving us notice in writing. Each Employee Cardholder may also terminate his or her Neat Visa Card at any time by giving us notice in writing;
15.1.2. the termination will take effect immediately upon us receiving your notice; and
15.1.3. you should procure your Employee Cardholder to destroy the relevant physical Neat Visa Card and dispose of it carefully.
15.2. Our rights. Subject to Applicable Law:
15.2.1. we may, at our sole discretion, suspend, cancel or terminate the right of you, the Business Admin and/or your Employee Cardholders to use the Neat Visa Card Facility, any Neat Visa Card, and/or other related services under these Terms at any time and with or without cause or prior notice;
15.2.2. we will use reasonable endeavours to immediately terminate a Employee Cardholder’s Neat Visa Card if you or your Employee Cardholder informs us that your Employee Cardholder’s employment with you is terminated due to retirement, resignation, dismissal or any other reason;
15.2.3. we shall not be liable for any loss or damage suffered or incurred directly or indirectly by you and/or any Employee Cardholders as a result of or arising from any such suspension, cancellation or termination; and
15.2.4. upon our request, you and/or your Employee Cardholder must return any physical Neat Visa Card to us and you shall be obliged to procure each Employee Cardholder to return their physical Neat Visa Card to us.
15.3. Obligations upon termination
15.3.1. Upon the termination of any Neat Visa Card Facility or Neat Visa Card, you and/or any relevant Employee Cardholder shall immediately cease using the Neat Visa Card Facility or relevant Neat Visa Card(s) and promptly carefully dispose of any physical Neat Visa Card. You and the relevant Employee Cardholder shall remain jointly and severally liable for any and all continued use of the Neat Visa Card Facility and/or relevant Neat Visa Card(s).
15.3.2. The termination of your Neat Visa Card Facility or a Neat Visa Card (as the case may be) shall be without prejudice to any rights of either party which have accrued or become due on or before the date of expiry or termination. In addition, all provisions expressly or by implication intended to come into or continue in force on or after termination or expiry of this agreement, a Neat Visa Card Facility or a Neat Visa Card (as the case may be) shall remain in full force and effect.
15.4. Fees. If we or you terminate any Neat Visa Card and you have paid any subscription fees in advance, you will be reimbursed accordingly on a pro-rata basis, unless you owe money to us and the owed amount will be deducted before it is reimbursed.
16. Amending these Terms
16.1. We will provide you with 30 days notice via email the Neat Dashboard and Neat Card App or any other means, of any changes to these HK Visa Card Supplementary Terms that relate to Fees and charges and your liabilities or obligations.
16.2. For all other amendments these HK Visa Card Supplementary Terms may be amended as set out in the Neat Master Terms.
“ATM” means any automatic teller machine located anywhere in the world connected to the Visa network.
“Base Currency” means the base currency you designate for your Neat Visa Card which will be either Hong Kong Dollars or United States Dollars.
“Card Limit” means the agreed monthly transaction limit, set by you or your Business Admin for each Neat Visa Card, provided that the aggregate Card Limits of all Neat Visa Cards issued to you and your Employee Cardholders shall not at any time exceed the Credit Limit.
“Credit Limit” means the maximum amount of credit (including interest, costs, fees and other amounts payable) that Neat has authorised you to borrow in relation to your Neat Visa Card Facility.
“Employee Cardholder” means your nominated employee(s) (including, if applicable, a Business Admin) to whom we have issued a Neat Visa Card.
“Fees” means the fees associated with the Neat Visa Card as set out on the pricing page of the Website.
“Hong Kong Dollars” or “HK$” means the lawful currency of Hong Kong.
“Neat Card App” means our Neat card mobile application, as available in the relevant app store, where your Employee Cardholder can manage their Neat Visa Card.
“Neat Visa Card” means each physical or virtual Visa credit card issued by Neat to you and your Employee Cardholder in a Base Currency and available for you to use in accordance with these Terms.
“Neat Visa Card Facility” means the credit facility granted to you by Neat in accordance with these HK Visa Card Supplementary Terms and to which each Neat Visa Card issued to your Employee Cardholder is associated.
“PIN” means the unique personal identification number for each of your Neat Visa Cards.
“Reserved Balance” means, in respect of a Neat Visa Card, an amount equivalent to the Card Limit of that Neat Visa Card, allocated by Neat as “Reserved Balance” in your Neat Multi-currency Wallet, for the purpose set out in Clause 6.1 (Credit Limits and automatic repayment) of these HK Visa Supplementary Terms.
“United States Dollars” or “USD” means the lawful currency of the United States of America.
“You” and “your” means the company that has applied for and been granted a Neat Visa Card under these Terms and your employees and representatives (including your Business Admin).