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The Vault mobile app is a unique multicurrency electronic money account, containing 27 currency wallets. Certain categories of account holders can also apply for a prepaid Mastercard® issued by Moorwand Ltd, so that users can make online payments, withdraw cash and store money in their Vault prepaid card in the 4 Settlement Currencies (GBP, EUR, USD and CHF), in any outlet that supports Mastercard®. Transactions out of the 4 Settlement currencies are authorised through the default currency of the card (EUR), so we advise you to always maintain a balance of EUR in this wallet.
The application is available free of charge on the App Store for iOS and on the Play Store for Android.
Yes, primary users must be at least 18 years of age to be eligible for a Vault account. Companion card users must be at least 13 years of age.
deVere E-Money is incorporated in the European Union (EU) and issues electronic money and prepaid Mastercard cards under an EU licensing regime governed both by the Bank of Lithuania, and Mastercard.
Therefore, you can apply for Vault account if:
The EEA includes:
Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom.
You can use a lot the features of the Vault app, including cheap foreign exchange, attractive bank transfer rates, and free Vault-to-Vault payments, without the need to apply for a prepaid MasterCard.
Yes, UAB deVere E-Money is authorised and licensed by the Bank of Lithuania with the license number 9 which allows deVere E-money to offer electronic money services under the Electronic Money Regulations 2011 (Ref: 900051).
Your physical Vault card will be issued by Moorwand Ltd which is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (Register ref: 900709) for the issuing of electronic money. Registered office Irongate House, 30 Dukes Place, London EC3A 7LP, United Kingdom. Registered in England & Wales No. 8491211.
As our name suggests, we take security very seriously. All the funds that are loaded into your are held in bank accounts known as Client Accounts. Our regulator, the Bank of Lithuania, imposes strict rules upon licensed electronic money service providers concerning the safeguarding of client funds. The funds held in these bank accounts are segregated from deVere E-Money's operational bank accounts, and these funds cannot be used by deVere E-Money for normal operational business expenses.
No, unfortunately under an electronic money services licence, deVere E-Money is not permitted to pay interest to clients for funds held in the client accounts, nor is deVere E-Money permitted to receive interest from the banks providing the client account services for Vault.
There are 4 main uses for your Vault account & card; converting foreign exchange in a cheap and easy manner on a mobile app in real-time; simple bill paying via bank transfer in any of the 27 currencies supported by the app; point of sale spending, online purchases and cash withdrawals in the 4 Settlement currencies using your Vault card; and free instantaneous Vault-to-Vault transfers between Vault account holders.
Vault supports 4 major Settlement Currencies, 5 Loading Currencies and an additional 23 Transfer Currencies.
Users can load any of the 4 Settlement Currencies and PLN via debit card or make bank transfers into their Vault account in EUR or GBP: they can store the balance in their wallets; they can exchange their balance into any of the other 23 currencies supported by Vault; and they can spend directly (i.e. without incurring third-party charges) using the 4 Settlement Currencies (EUR, GBP, USD and CHF).
For example, you can directly load GBP into your Vault account via debit card or bank transfer; when you use your Vault card in the UK, your merchant's bill will be settled directly from your GBP balance without any third-party charges.
The 23 Transfer Currencies are currently only available for converting, storing and transferring via bank transfer. This means that you cannot directly load any of these 23 currencies into your Vault account and you cannot directly spend in any of these 23 currencies. You can only spend directly (i.e. without incurring third-party charges) in one of the 4 Settlement Currencies (EUR, GBP, USD and CHF).
For example, if you wanted to hold Australian dollars, you would not be able to directly load Australian dollars into your Vault account; you would need to convert one of the 4 Settlement Currencies into Australian dollars within the app using the foreign exchange conversion facility. You would then be free to transfer those Australian dollars from within the app using the bank transfer facility to a recipient who wanted to receive Australian dollars.
You would not be able to directly spend in Australian dollars on your Vault card if you were in Australia. Please make sure that you have balance in your EUR wallet. The merchant's invoice will be settled directly from your EUR balance. This will involve the merchants bank converting your Australian dollar invoice into EUR at an exchange rate outside of Vault's control.
Cross-currency spending on your Vault card outside of the 4 Settlement Currencies results in other FX fees being applied by the merchant's bank.
At deVere E-Money we are dedicated to safeguarding and preserving your privacy when using our services or communicating electronically with us. Please navigate within your app to Settings → Privacy Policy or read them on our website here.
This Privacy Policy, together with our terms of use, provides an explanation as to what happens to any personal data that you provide us with, or that we collect from you. You may choose not to provide any information to us, in which case, we may be unable to provide certain services to you such as, receiving money, sending money and exchanging currency etc.
If you have any questions or concerns about our Privacy Policy or data processing, or if you would like to make a complaint about a possible breach of privacy laws, please contact us at [email protected].
deVere E-Money is incorporated in the European Union (EU) and issues electronic money and prepaid Mastercard cards under an EU licensing regime governed both by the Bank of Lithuania, and Mastercard.
Therefore, you can apply for Vault account if:
If you do not fall into one of these categories, we will unfortunately not be able to open a Vault e-money account for you.
The EEA includes:
Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom.
If you are eligible for Vault account and want to have Vault prepaid MasterCard, then you need to provide Proof of Address (POA) issued in the EEA country or Switzerland.
A complete list of acceptable EEA POA documents can be found here.
You will be asked to upload a selfie, a photo of proof of identity (passport, ID card). As soon as your application and documents have been checked, you will get a notification.
deVere staff can set up a Vault account and apply for a Vault card irrespective of their nationality or where they are resident. However, they will need to complete a full onboarding process.
The Vault on-boarding team will check the email address that is registered on our central database that you will have previously provided to deVere when registering as a client, and cross-check this with your name, surname and date of birth on file.
The Vault on-boarding team will check your deVere email address and cross check this with your name, surname and date of birth on file with deVere Group HR.
If you are resident outside of the SEPA and wish to now upgrade your Vault e-money account to include a Vault prepaid MasterCard, you will need to provide a POA for a country located in the EEA, that will satisfy our card issuer, Moorwand Ltd.
A complete list of EEA countries can be found here and our acceptable EEA POA documents can be found here.
Your selfie must be a real-time photo, made by yourself and your shoulders must be visible in the photo.
If you can provide us with proof of identity issued by EEA country, then you will be quickly approved for a Vault e-money account. We will not however be able to issue you with a virtual or physical Vault prepaid MasterCard unless you can subsequently provide us with a proof of address for a country located in the EEA that is acceptable to our card issuer, Moorwand Ltd, in line with their Licensed Area of Use.
A complete list of European Economic Area (EEA) countries can be found here and our acceptable EEA POA documents can be found here.
As a registered Vault account user, you can request a virtual card from within the app. If you are either a deVere employee or resident in the European Economic Area (EEA) or Switzerland, you will then be able to activate your virtual Vault prepaid MasterCard from within your app.
If you are an existing deVere client, but not resident in the EEA or Switzerland you need to upload a proof of address for Switzerland, or a country located in the EEA before we can enable your virtual Vault prepaid MasterCard in your app.
A complete list of European Economic Area (EEA) countries can be found here and our acceptable EEA POA documents can be found here.
If you are not an existing deVere client and are not resident in the EEA, you cannot, unfortunately, enable your virtual Vault prepaid MasterCard.
You can request a physical Vault card by navigating to: Vault Card → Request Physical Card. Please make sure that you have at least €5 in your EUR wallet. You will be prompted to enter your card display name and surname, and to confirm your preferred physical card delivery address. This delivery address should be the same as any proof of address already provided but because of the postal systems in some countries, you are advised to check that the delivery address is complete. Please contact the Vault Support Team via Live Chat or email at [email protected] to ensure that your card is sent to your correct address.
If your documents have not yet been approved, an update message will be sent to the email address you provided when you first registered with Vault. Please check your inbox before contacting support.
For any additional questions, please contact the Vault Support Team via Live Chat or email at [email protected].
Applications are usually approved instantly; however, sometimes manual review is needed. If you have provided the correct documentation, the application should be approved in 1 business day. However, the process might take longer out of Lithuanian office hours (08:00-18:00 EET) or during bank holidays & on weekends.
Once an application is submitted for review, it will not be possible for you to add a referral code.
The Vault mobile app is a unique multicurrency electronic money account, containing 27 currency wallets. Certain categories of account holders can also apply for a prepaid Mastercard® issued by Moorwand Ltd, so that users can make online payments, withdraw cash, and store money in their Vault prepaid card in the 4 Settlement Currencies (GBP, EUR, USD and CHF), in any outlet that supports Mastercard®. Transactions out of the 4 Settlement Currencies are authorised through the default currency of the card (EUR), so we advise you to always maintain a balance of EUR in this wallet.
If you have already opened a Vault account, you may request a virtual Vault prepaid Mastercard® free of charge in the 'Vault card' section, from within your Vault app. After the approval process, your app will be updated with a 16-digit Mastercard® number which will be enabled, so that you can use it for online purchases. You can then subsequently request a physical Vault card be sent to you for point of sale purchases and ATM cash withdrawal, at a cost of €5.
You must first have requested and been accepted for a virtual Vault prepaid MasterCard which will have been 'enabled', and you already have a 16-digit MasterCard number on the Vault Card screen within your app. To access your virtual card details, navigate to: Vault Card → eye symbol → enter your 5-digit passcode → revealing your 16-digit MasterCard number and your 9-digit Vault account number.
You can now request your physical Vault card by navigating to: Vault Card → Request Physical Card.
You will need to have at least €5 in your EUR wallet to pay for your card & delivery, and you will be asked to check (and edit if required) your card display name & surname, as well as confirm your exact card delivery address.
If you are a resident in the European Economic Area (EEA) or Switzerland you will be prompted at the point of ordering your physical card within the app, to confirm your postal address and your card will be posted by unregistered mail to this address.
Also please note that we can send your card directly to your home address via courier, however delivery costs must be covered by you. If you wish to use a courier, please contact the Vault Support Team via Live Chat or email at [email protected].
Although we take the security of the Vault cards we are issuing very seriously, many clients have complained that they have to be physically present at their distributing address when a registered letter is delivered and therefore we have complied with client requests and arranged for cards to be delivered by unregistered mail so that you do not have to be at home when the card is delivered.
For cardholders resident outside of the EEA, it is not always possible to send cards by registered mail as many countries do not have postal systems that will support door-to-door delivery and use PO boxes. Therefore, in these countries, it is safer and more efficient for us to arrange for your card to be sent to your local deVere office, from where they will arrange delivery. There are still certain countries outside the EEA where we can post your card direct to your residential address.
Please note that we can send your card directly to your home address via courier, however delivery costs must be covered by you. If you wish to use a courier, please contact the Vault Support Team via Live Chat or email at [email protected].
Upon requesting the physical card, you will see a prompt that reads “Activate Physical Card” in the “Vault Card” section of your app. This means that the card has been requested. You are advised not to activate or freeze the card before it has been received under any circumstance.
If you are resident within the EEA you could expect the delivery of your physical card within 14 days of your initial request but if you are resident outside of the EEA, you should allow up to 30 calendar days.
If the Vault card does not arrive within the expected time, please contact the Vault Support Team via Live Chat or email at [email protected]. You will then be notified of the card delivery status.
Before using the Vault card, you must first activate it by navigating to: Vault Card → Activate Physical Card. After activation of your physical card, please access your virtual card details and compare them with your physical Vault card's details to make sure that the details match. You can access your virtual card details by navigating: Vault Card → eye symbol → enter your 5-digit passcode → revealing your 16-digit MasterCard number and your 9-digit Vault account number.
You may only have one personal Vault account and only one physical/virtual Vault prepaid MasterCard, however, you may order up to 3 Companion cards.
Yes, once you have successfully registered your Vault account, you will have access to a range of features within your app, including loading funds, exchanging currencies and making transfers. You only need a Vault prepaid MasterCard for point of sale purchases and ATM cash withdrawal.
Your 9-digit token or account number is a unique code which identifies your Vault account. Your 9-digit code can be found on your physical Vault card under your name. Your virtual card details can be found by navigating to the Vault Card section → eye symbol → enter your 5-digit passcode → revealing your 16-digit MasterCard number and your 9-digit Vault account number.
Your passcode is a 5-digit security code which is used to access your Vault app and any sensitive material within it.
Your PIN code is a standard 4-digit code that is required for payments, ATM withdrawals, etc. for security & fraud protection and is embedded within the chip on your Vault card.
To reset the passcode, navigate to: Vault application login screen → Forgot? → enter email address → submit. You will then receive a passcode reset link to the email address you provided on your Vault account.
Your personal PIN code can be found in the 'Vault Card' section under the 'show PIN' tab.
deVere E-money does not send out a physical version of client PIN codes. Instead, you must navigate to: Vault Card → Show PIN.
You can change your PIN code through any Bank ATM that supports 'PIN Services'. The ATM will update your card's chip to the new PIN instantly.
To unblock your PIN code, please contact the Vault Support Team via Live Chat or email at [email protected]. We will send you PIN unblock scrip. Then please use your Vault card at the nearest ATM, and enter the correct PIN. Please note that you do not need to withdraw funds, you can cancel the transaction. This action will unblock the PIN.
Once a replacement card is ordered, a €5 fee will automatically be debited from your Vault account. If the fee should not have been debited, please contact the Vault Support Team via Live Chat or email at [email protected] and we will reimburse your EUR wallet.
Contactless payments can be toggled on or off by navigating to: Vault Card → Card Security → Disable the Contactless Payments.
You are always encouraged to keep your card secure. For this reason, you may choose to temporarily freeze your card by navigating to: Vault Card → Freeze Card on the application. All transactions will be declined when this option is enabled. Unfreeze the card to continue using normally.
You can find your currency wallets in the “Wallets” section. You can then choose the wallet which you intend to use and exchange or send money.
To manage your wallets, please press the wallet icon at the top right corner or navigate to: Settings → Currency Manager.
If a card has been lost or stolen, navigate to: Vault Card → Freeze Card, to instantly halt any unauthorised use of the Vault card. If a lost card is found by the authorities, you can unlock your card through the same process.
If you wish to request a new card, simply navigate to: Vault Card → Request a new card → Report & Order New Card. Please note that your old card will not be usable once you reorder a new one. You will be charged €5 for the new card. Please activate your new card once you receive it before using! Please also note that your card details will be changed after you request a replacement card.
If your Vault card has expired or it will soon expire, simply navigate to Vault Card → Request a new card → Report & Order New Card. Please note that your old card will not be usable once you reorder a new one. You will be charged €5 for the new card. Please activate your new card once you receive it before using!
Due to our anti-money laundering regulations, it is not possible for you to change your residential address within the app. To change your address, please provide our support team with a proof of address (POA) which is not older than 90 days via email or live chat. A complete list of our acceptable European Economic Area (EEA) POA documents can be found here and our Customer Support team will be as flexible as possible to manage some of the difficulties that clients have providing POA for countries outside of the SEPA. If you have any concerns, please contact the Vault Support Team via Live Chat or email at [email protected].
A Vault Companion card is an additional card that is issued by a primary cardholder to create up to 3 subsidiary accounts, typically for family members. Primary users can choose between “youth” and “adult” Companion cards, either of which has its own spending restrictions. Primary account holders have total control over funding their subsidiary Companion cards and can only fund it via Vault-to-Vault transfers from the Primary account.
Please navigate to Settings → Terms and Conditions → Vault Prepaid Mastercard Terms and Conditions → 3. Card Fees → B. Adult Companion Card Limits and Fees and C. Youth Companion Card Fees and Limits.
A Vault Companion card can be requested by a Primary card holder by navigating to: Vault Card → Add Companion Card.
The primary user will need to indicate the Companion user's first name, surname, email address, date of birth and mobile number.
Once this is completed, the Companion user will receive an email with an invitation code with which the Companion account registration can be finalized.
Companion user can activate a card by navigating to: Vault Card → Activate Physical Card. Primary cardholder can then load and manage Companion cardholder's account through the Vault Card section. To load funds onto a subsidiary account, just initiate a Vault-to-Vault transfer from your desired currency wallet and enter the Companion cardholder's email address on 9 digit token.
A Primary cardholder can navigate to: Vault card → swipe the top half of the screen showing the card, left or right → select a subsidiary card or otherwise. The transactions menu will display the transaction history for any selected card, with full functionality available across all Vault cards.
You can load in EUR, GBP, USD, CHF and PLN via a debit card load, or you can load your account by making a bank transfer load in EUR and GBP to your personal IBAN.
You can now submit a request for a personal EUR/GBP IBAN by navigating to Load Funds -> Bank Transfer via a currency wallet on Vault app.
Our Support Team will promptly review your request, and if approved, you will be issued your own IBAN for Vault.
The bank transfer load fee via SEPA or Faster Payments is €1/£1. Receiving SWIFT transfers in EUR or GBP will be charged €20/£20.
Navigate to: Wallets and then select the relevant currency wallet → Load Funds → Add Debit Card (you can add up to 3 debit cards). You can then load funds from your bank account to that currency wallet using your debit card, subject to any limits imposed by your bank, and the funds will show up in your wallet and be instantly available for spending.
In case of any questions or if you exceed any limits, please contact the Vault Support Team via Live Chat or email at [email protected].
If your debit card is issued by a bank in the European Economic Area (EEA), a fee of 0.5% will be applied to the value loaded.
However, if your debit card has been issued by a bank based outside of the EEA region, your bank will charge Vault a significantly higher fee for debit card loading. Due to these bank charges, we must pass on a fee of 3% to the value loaded for this type of loading. In this instance, we would recommend instead that you consider using bank transfer loading, particularly for larger amounts.
No, you cannot load funds straight into the additional 22 Transfer currency wallets in Vault. You can only load funds in 5 currencies (EUR, GBP, USD, CHF and PLN) using debit card loading method, or via bank transfer in EUR and GBP. Once you have loaded funds in one of the 5 currencies, you can then exchange into one of the other additional 22 Transfer currencies.
You can exchange currencies by navigating to: Wallets and then select the relevant currency wallet → Exchange. You will be prompted with a quote before committing to the exchange, after which the action is irreversible.
Yes, you can still make a load into one of the 5 loading currency wallets via debit card or bank transfer in EUR and GBP, however your bank will determine the exchange rate at which your local currency is converted into your selected currency./p>
We recommend that you load your Vault account in the same currency as your debit card to benefit from Vault's attractive rates when exchanging currencies. For example, if you are using a GBP debit card, you should load money GBP into your GBP wallet, and then exchange it to any other currency required later. If for instance you try to load EUR using a GBP debit card then you may incur unfavourable exchange rates applied by your bank issuing the debit card, which are outside of Vaults control.
The additional 22 Transfer currencies are currently only available for converting, storing and transferring via bank transfer. Direct loading and spending are unavailable for the additional 22 Transfer currencies in Vault's current build.
Loads made using debit cards issued in a name other than the Vault account owner will not be accepted for anti-money laundering reasons. Please also note that violation of this rule may result in account suspension.
You can perform a maximum of 3 debit card loads per day.
deVere Vault requires certain information for users to successfully load funds into their account (name, 16-digit card number, CVV/CVC code, expiry date). Cards without a CVV/CVC code are incompatible with the current Vault build and they are not able to be scanned into the app.
deVere Vault requires certain information for users to successfully load funds into their account (name, 16-digit card number, CVV/CVC code, expiry date). Cards without a cardholder's name are not able to be scanned into the app and are automatically rejected.
Vault accounts can receive bank transfers and Vault-to-Vault transfers from other third parties. However, please note that the first load to any Vault account must be made either using a debit card issued in the Vault account owners name; or via a bank transfer from a bank account in the Vault account owners name. No third-party transfers will be permitted until a first load in the Vault account owner's name has been verified.
This will depend upon whether the third party selects to pay the bank transfer fees at their end or charge these to deVere E-Money. Vault cannot be held responsible for any bank transfer fees charged by third-party organisations during the process of a bank transfer load from a bank account to deVere E-Money.
SEPA or Faster Payments bank transfers incur a fee of €1/£1. Receiving SWIFT transfers in EUR or GBP will be charged €20/£20 respectively. Please note that sending a bank transaction via SWIFT transfer may result in lower amount received than originally sent due to fees charged by correspondent banks.
At the time of setting up your transfer, you may be asked to select on the online banking portal for your personal bank account, by which method you wish to transfer the funds.
Presently, deVere E-Money can issue EUR and GBP personal IBANS which can receive SWIFT payments, LOCAL UK Faster Payments and SEPA payments.
These are transfers made in a country's domestic currency and payment system. For instance, GBP transferred between two UK domiciled banks or EUR transferred between two banks domiciled in the Single European Payments Area (SEPA). This is normally the fastest and cheapest method of moving money.
The Single Euro Payments Area (SEPA) represents a new format for international bank transfers in Europe. Currently, SEPA comprises 34 countries, including 28 EU member states alongside Iceland, Monaco, Switzerland, Liechtenstein, Norway and San Marino. Its purpose is to simplify cross-border money transfers in Euros, which is the only currency SEPA supports. In many ways, a SEPA transfer is like a local domestic transfer. Banks that support SEPA transfers either have direct relationships established or a network of intermediary banks, thus allowing transfers to run across country borders.
The Society of Worldwide Interbank Financial Telecommunication (SWIFT) is a financial messaging system that runs on a network of tens of thousands of financial institutions from around the world.
If you are transferring money across borders, for instance, GBP to Luxembourg or USD to Switzerland, you will typically need to use the SWIFT transfer method. SWIFT does not actually send money, it simply sends messages between the banks. Because of this, other systems that require more human intervention must be used to transfer the actual funds, making SWIFT transfers slow. However, there is a trade-off, as the transfer method is easily traceable and can be recalled if necessary. On the downside, the complex nature of these transfers incurs a fee, which gets passed on to consumers.
At the time of setting up your transfer, you may need to select on the online banking portal for your personal bank account, how you wish to pay the bank transfer charges. If you are making a Local/SEPA transfer, you are likely to be charged a flat fee of up to €2. However, if you are making an international or SWIFT transfer, you are likely to be offered the choice of BEN, SHA, or OUR.
When making an international or SWIFT transfer, you, the sender will be prompted by your bank to choose which party will pay the bank transfer charges.
OUR, SHA & BEN are the common codes that you are likely to see when you set up a bank transfer payment from your own personal online banking portal.
The OUR instruction means you the sender will pay all bank transfer charges upfront. This transfer method guarantees that Vault will get the exact amount you wish to load. If you use OUR, we will receive all your payment and credit the full amount to your Vault wallet. This is the method that we suggest you use while making bank transfer loads to Vault and we encourage making a smaller number of larger values loads to minimise your bank transfer costs.
SHA (shared) transfers incur charges applied by both your bank and our correspondent (intermediary) bank, over which we have no control. As such, we cannot guarantee that we will receive the exact amount you have transferred. Whilst this may appear to be an equitable method of sharing bank transfer charges, it can often lead to a higher overall bank transfer cost for you.
BEN (beneficiary) transfers incur no charges on the sender. We receive your payment minus all transfer charges which are deducted both by the correspondent bank and/or the receiving bank. Vault has no control over these charges.
We usually recommend that when making a bank transfer load to Vault, you select the option to pay all the bank transfer charges up front as OUR's. The difference between OUR, SHA & BEN charges will vary depending upon the currency you are sending, where your bank is based and which transfer method you have selected (Local or SWIFT). We recommend that you test out several different methods of transfer from your usual bank to find the most cost-effective method of loading your Vault account.
Funds loaded via registered debit cards appear instantly in the client's Vault account. If the funds haven't appeared on your Vault account instantly, please contact our support team. Ingoing transfers using the Local functionality take between 1 and 3 working days; Priority/SWIFT payments typically take between 2 and 5 working days to reach your account.
For us to check the status of a bank transfer load, the Vault support team will require a proof of payment with all the details included in the transfer. Please contact our Support team via Live Chat or email at [email protected] by attaching the necessary document and our team will gladly check the status of your bank transfer load.
The minimum load requirement is a standard rate of 2.00 in any of the 5 loading currencies. Loads below this value may be declined, charged and might not automatically appear in the beneficiary's account.
Clients can load up to €10,000 or equivalent in any of our other 5 loading currencies per day via a debit card and up to €99,999 per day via bank transfer.
You can transfer funds from PayPal to Vault the way you would make a regular bank transfer. Please refer to the PayPal manual for more information.
No, unfortunately the current Vault build is not compatible with Google Pay.
No, unfortunately the current Vault build is not compatible with Apple Pay.
You can instantly transfer funds to other Vault users for free using Vault-to-Vault transfers. To do this, you must add your beneficiaries through Vault. Adding beneficiaries requires you to enter the registered email address or the 9-digit account number of your prospective beneficiary. The funds can be transferred via Vault-to-Vault transfer by navigating to Wallets → Transfer → Send money to Vault Users. Alternatively, to load another Vault user's account, you can always use bank transfer loading method.
No, you can only use your virtual and physical Vault cards for spending directly in the 4 Settlement currencies (EUR, GBP, USD and CHF). You can still spend indirectly in 120 currencies around the world where MasterCard is accepted. To spend in currencies other than 4 Settlement currencies, you should hold funds in your EUR wallet, as this is our default currency. Indirect spending in currencies other than the 4 Settlement currencies is a more expensive option due to third-party FX fees applied by the merchant's bank, which are outside of Vaults control.
However, please note that you can still make bank transfers out of your Vault account in any of the 27 currencies available in Vault.
You can spend up to €4,500 in retail transactions every day and withdraw up to €600 at a time from any ATM that supports Mastercard services. You can conduct 4 ATM transactions per day, with a total maximum withdrawal limit of €1,300 per day. For Companion Card spending limits, please navigate to Settings → Terms and Conditions → Vault Prepaid Mastercard Terms and Conditions → 2. Using your Card(s), and card fees → subsection 14 Adult Companion Card Fees and Limit Table.
If the local currency is one of the 4 Settlement Currencies, it is always best to pay in that currency to avoid unnecessary conversion costs, also known as Dynamic Currency Conversion or DCC. Opting to use Vault for your conversions will result in a better rate than those offered by merchants or online retailers who will generally offer unfavourable exchange rates. Always remember to check the payment terminal and if the amount is not shown in the local currency, then kindly ask for it to be changed. For example, you are in France and wish to pay at a local restaurant; the merchant's terminal offers you the opportunity to pay in GBP or EUR and therefore you would select EUR to settle the bill from your EUR wallet. If you were to select GBP, the merchant's bank would determine the exchange rate from GBP to EUR, which would almost certainly be more unfavourable than the exchange rates within Vault.
Although the default currency of your Vault account is EUR, the card is manufactured & issued in the UK. Some bank ATMs do not recognise that the Vault card is a multicurrency card, and the ATM reads the card chip and interprets the card as being a UK issued GBP card. In this instance you should either cancel the transaction and try a different bank ATM, or you will have to accept that the bank you are withdrawing cash from will offer you an exchange rate for converting from your GBP wallet.
Mastercard regulations demand that ATM machines show users a converted rate before a transaction. If this is not the case, kindly advise the Vault team with the name of the ATM provider so that we may escalate the issue to Mastercard. This will not result in a refund as it is outside of our reasonable control.
No, any balance that you hold in one of the 23 Transfer currency wallets can only be used to pay bills via bank transfer. If you are in a country that does not support one of the 4 Settlement currencies, the bank that you are withdrawing cash from will offer you an exchange rate for converting from your default EUR wallet into the local currency you are trying to withdraw.
Transactions that cannot be fulfilled due to lack of funds will be declined. However, you can manually convert funds from one of your other wallet balances or load more funds via debit card to solve the problem instantly, as funds are accessible immediately.
In some cases, offline transactions or Vault fees for services you are using can lead to a negative balance in your account. As stated in our Terms & Conditions, if this happens, you agree to top up your account to rectify your outstanding balance.
We will notify you if this happens, and we'll allow up to 7 business days to top up. If the balance is still negative after the deadline, Vault will automatically correct the balance by initiating an exchange between accounts or by attempting to top up with your registered card.
We recommend that you do not use your Vault card for security deposits when checking into a hotel or hiring a car. We suggest using a credit or debit card in such cases, and only using the Vault card to settle the final bill.
The funds issued from a Vault card for security deposits are given a temporary 30-day block, as the Vault cards are not credit cards and hold a prepaid balance. You are asked to kindly use any other card for the security deposit, and your Vault card for normal transactions. The funds will still be pre-authorised on the other cards.
You should be able to link your Vault prepaid MasterCard to PayPal. PayPal has its own verification standards which you will need to adhere to when linking your Vault card. PayPal will charge you a small fee to confirm your card, so we recommend that you load funds to the relevant currency Vault wallet prior to linking your Vault account with PayPal. The fee will be credited back once the card is confirmed and authorised.
Unfortunately, you cannot link your Vault e-money account to PayPal without a Vault prepaid MasterCard as PayPal does not accept prepaid e-money accounts.
If you suspect an incorrect transaction please freeze your card via the app and contact the Vault Support Team via Live Chat or email at [email protected] as soon as possible.
You can send funds directly from your Vault account to bank accounts around the world, from within your app. To make a bank transfer out of Vault, please navigate to: Wallets → Transfer → To bank account. Kindly follow the instructions by entering all the transfer details required. If you are having any difficulties setting up your first bank transfer, please contact the Vault Support Team via Live Chat or email at [email protected].
Vault has partnered with the UK global payments and foreign exchange firm, “The Currency Cloud”, to perform these transfers on behalf of Vault clients, using Barclays bank UK plc.
When setting up a bank transfer within the Vault app you will be asked whether you want to make a local transfer or a SWIFT transfer.
Local transfers
These are transfers made in a country's domestic currency and payment system.
For instance, GBP transferred between two UK domiciled banks or EUR
transferred between two SEPA domiciled banks. This is normally the
fastest and cheapest method of moving money. Keep in mind that local
transfers cannot be traced or recalled.
SEPA Transfers
The Single Euro Payments Area (SEPA) represents a new format for international
bank transfers in Europe. Currently, SEPA comprises 34 countries, including 28
EU member states alongside Iceland, Monaco, Switzerland, Liechtenstein, Norway
and San Marino. Its purpose is to simplify cross-border money transfers in
Euro, which is the only currency SEPA supports.
In many ways, a SEPA transfer is like a local domestic transfer. Banks that
support SEPA transfers either have direct relationships established or a
network of intermediary banks, thus allowing transfers to run across country
borders.
SWIFT transfers
The Society of Worldwide Interbank Financial Telecommunication (SWIFT) is a
financial messaging system that runs on a network of tens of thousands of
financial institutions from around the world.
If you are transferring money across borders, for instance, GBP to Luxembourg
or USD to Switzerland, you will typically need to use the SWIFT transfer
method.
SWIFT does not actually send money, it simply sends messages between the
banks. Because of this, other systems that require more human intervention
must be used to transfer the actual funds, making SWIFT transfers slow.
However, there is a trade-off, as the transfer method is easily traceable and
can be recalled if necessary. Please note that as indicated in our Terms &
Conditions, Vault charges 10 GBP fee if a trace or recall is requested.
Outgoing transfers using the Local functionality take between 1 and 3 working days depending upon the destination; Priority/SWIFT payments typically take between 2 and 5 working days to reach the recipient's account. Some Local payments will be quicker than a Priority/SWIFT payment, especially for the UK, SEPA and USA payments network.
You can utilize a limited 10-minute leeway period during our payment service provider's clearing hours (9:45 to 16:00 London time) to cancel any transfers out of Vault, after which transfers are deemed verified and therefore irreversible. Transfers made during offline hours will be conducted on the following working day. You are urged to establish the correct details before committing to a transfer. For Vault-to-Vault transfers, these occur instantly so you are encouraged to make sure the correct details are inputted before committing to a transfer.
If money is transferred to the wrong account, please contact the Vault Support Team via Live Chat or email at [email protected]
To edit/delete a beneficiary, please press and hold the beneficiary entry button and swipe left.
Clients can instantly transfer money free of charge from any of the 27 currency wallets to other Vault users by indicating their 9 Digit Token or an email address, which they used for registering to Vault.
You should navigate to: Transfer Funds → send money to Vault User. You will need to identify the other Vault beneficiary using either their Vault registered email address or their unique 9-digit Vault account number.
Once you have added a beneficiary, they will remain on your contact list indefinitely unless you manually delete them. To affect the transfer, you must select the beneficiary and enter the currency-specific value to be transferred, and press submit. Upon process completing, the money is transferred to your chosen beneficiary.
The beneficiary will receive a notification message in their Vault application and an email advising them that they have received a transfer which will include the value you have sent.
Please select the preferred wallet and choose Transfer → Request money from Vault user → Click “+” to request money from any Vault user. If you wish to cancel the transaction, please swipe to the left and press cancel.
Yes, you can navigate to: Transfer Funds → Auto payment and set up the relevant beneficiary's bank or Vault account details including selecting the amount and frequency of the autopayment. The beneficiary will receive a message in their Vault application and an email advising them that they have received a transfer which will include the value you have sent.
Pease navigate to the wallets and choose the preferred Wallet → Transfer → Auto payment. Then please swipe to the left and press "Delete".
Starting from 21st November 2019, some certain jurisdiction restrictions may apply when initiating CAD local payments. Please note that these restrictions are not affecting SWIFT transfers, as they can be initiated as usual. Following the guidelines imposed by our banking partner, kindly note that local CAD payments will not be permitted if the beneficiary or the sender is from any of the following jurisdictions:
Virtual cards are free but if you apply for a physical card, there is a fee of €5 including delivery (the funds must be available in the primary cardholder's EUR wallet).
If you need to replace your Vault card, there is a fee of €5 including delivery (the funds must be available in the primary cardholder's EUR wallet).
All cash withdrawal transactions will incur a 1% fee of the amount withdrawn in that currency. The Minimum fee will be 2€/2£ respectively.:
Please be aware that the maximum withdrawal on the Vault Card is up to €600 at a time, up to 4 times per day, with a total maximum withdrawal of €1,300 per day
Vault charges a small fee for ATM withdrawals, but you should note that certain ATM machines might also charge fees for their services which are outside of Vault's control.
For instance, please note that many ATMs in Thailand will apply a charge for cash withdrawals, usually 150 Thai Baht (about £3), regardless of the amount withdrawn. Most US banks also apply charges, but they normally inform customers about this prior to the withdrawal. Vault cannot account for third party ATM charges, as we do not have any control over such costs. For more details, please navigate to Settings → Terms and Conditions → Vault Prepaid Mastercard Terms and Conditions → 2. Using your Card(s), and card fees → subsection 14 Primary Card Fees and Limit Table.
If your debit card is issued by a bank in the European Economic Area (EEA), a fee of 0.5% will be applied to the value loaded.
However, if your debit card has been issued by a bank based outside the EEA region, your bank will charge Vault a significantly higher fee for debit card loading. Due to these bank charges, in these cases we must pass on a fee of 3% of the value loaded. In this instance, we would recommend instead that you consider using bank transfer loading, particularly for larger amounts.
For more details, please navigate to Settings → Terms and Conditions → Vault Prepaid Mastercard Terms and Conditions → 2. Using your Card(s), and card fees → subsection 14 Primary Card Fees and Limit Table.
SEPA or Faster Payments bank transfers incur a fee of €1/£1.
If you are sending your bank transfer via SWIFT, then there may be additional charges applied by correspondent banks depending upon where your bank is based, the currency which you are transferring and the transfer charging option you have selected. Vault charges €20/£20 for incoming EUR and GBP SWIFT transfers.
For more details, please navigate to Settings → Terms and Conditions → Vault Prepaid Mastercard Terms and Conditions → 2. Using your Card(s), and card fees → subsection 14 Primary Card Fees and Limit Table.
All our currency exchange rates are live during UK trading hours, meaning the exact rate of exchange will be displayed within the app and applied to any funds that you subsequently convert. You will always be prompted with a quote before committing to the exchange, after which the action is irreversible.
Converting currency out of UK foreign exchange trading hours will incur a premium since markets are closed. This small fee will be included in the quote.
Now you can set up or manage your own exchange rate alerts. Please navigate to Settings → Dynamic FX Rate Alerts. You can manually select values from Rate Selector and enter your own rate. For example, within Dynamic FX Rate Alerts, select the currency you wish to sell e.g. GBP and select the currency you wish to buy e.g. EUR. Then enter the exchange rate at which you want to buy EUR, e.g. 1 GBP = 1.11 EUR and set the alert. Afterwards, when GBP rises to 1.11 or higher against the EUR, we will send you a notification and you can decide whether to purchase your chosen currency.
You may find information related to the cost of transfers out of Vault by navigating to: Settings → Terms and Conditions → E-Money Terms and Conditions → Section 9. Transfer Out Functionality → Subsection 15 Fee Details. https://www.devere-vault.com/terms
You may find information related to the cost of transfers out of Vault by navigating to: Settings → Terms and Conditions → E-Money Terms and Conditions → Section 9. Transfer Out Functionality → Subsection 15 Fee Details. https://www.devere-vault.com/terms
In section 15 you can identify the Local fee transfer costs based upon the currency you are transferring. Our underlying banking partner applies a new payment method for SWIFT payments in order to follow Payments Services Directive 2 (PSD2), that aims to create transparency, greater competition and better security in correspondent banking across Europe. This pricing method is based not just on the currency being remitted as previously, but also now on the beneficiary country tier as well:
You can look up the tier of your payment destination here. Please note that your funds will be automatically converted into the same currency as that of the recipient when you affect a payment. While every measure is taken to ensure transparency for any client-charges, deVere Vault cannot guarantee that the recipient bank will not issue any additional charge(s) on its end, as this is out of our reasonable control. For example, if you are transferring to a UAE bank account, you should transfer AED from your AED wallet; if you transfer USD then the recipients bank will convert to AED upon receipt and may charge you a fee.
Clients should be aware that this is particularly relevant when sending a national currency such as USD to countries other than the USA. In such cases, all US fund transfers are routed through a US-based bank which can incur client-side charges.
Please also note that for tracing or recalling transfers out of Vault, additional charges may apply.
There are amount limits for Local transfers out of Vault, however, SWIFT transfers out of Vault are not limited. You may find information related to local limits for transfers out of Vault by navigating to: Settings → Terms and Conditions → E-Money Terms and Conditions → Section 8. Transfer Out Functionality → Subsection 15 Fee Details.
Yes, in accordance with anti-money laundering and sanctions screening requirements, we are currently unable to support transfers to the following countries:
Please navigate to: Settings → Terms and Conditions → E-Money Terms and Conditions → Section 8. Transfer Out Functionality → Subsection 16 as these countries are subject to change
Yes, currently, deVere Vault is unable to support bank transfers to some specific beneficiaries. This is due to deVere Vault agreements with intermediary banking transaction parties as well as compliance rules enforced by authorities on such transactions. These beneficiaries are primarily those linked or associated with the following activities:
Some restaurants, particularly in the USA, will allow the option of adding a tip to the bill after they have processed the payment. If a tip is agreed upon, then the restaurant will probably process a second transaction for the total bill with the tip included. Most likely, you will only be prompted once about an additional fee. deVere Vault recommends paying the tip in cash, as outstanding authorisations can take up to 30 days to be released.
In some cases, an offline authorisation is performed by the merchant which does not disappear once the authorisation is settled. The initial authorization of the usual transaction which you can see in your statement most of the time is shown as “Auth” which turns to “Fin” once the transaction is cleared (settled), usually in a few days' time.
However, the initial authorisation of an offline transaction stays on the Vault statement together with the settlement and that is why it might seem as a double charge.
In your “Wallets” and “Transactions” sections, the characters preceding each transaction titled “Auth” or “Fin”, mean that the transaction is still pending, and that the funds have been settled, respectively.
Please note that the initial authorisation “Auth” turns to “Fin” once the transaction is settled, usually in a few days' time.
Vault cards may not always work during flights as some airlines do not have a live connection to authorise transactions, in which case Vault transactions may not work temporarily. Vault cards are prepaid cards and should not be used offline during a flight.
Unfortunately, most automated petrol pumps do not authorise the exact value of a transaction, so such services are not supported by Vault. We recommend using physical cash when at a service station.
Certain websites only accept Credit or Debit cards. This is common with booking websites, which would usually only accept credit cards. Please be informed that Vault is a PREPAID card, so clients should always check the payment options available on the website.
Also, if you have registered your virtual card details to any merchant while your physical card was not activated, please provide the new expiry date after you activate the physical card.
Each retail store has its own returns policy and will handle the returns in the same manner as any other Mastercard transaction. Processed refunds will appear on user Vault accounts in the same currency as they were made in.
If a transaction has been reversed or a refund has been made, you will not see a reversal as a separate transaction, however, there will be more funds added to your Vault account. Should you need more information on the specific reversal, please contact the Vault Support Team via Live Chat or email at [email protected].
In such instances, clients are advised to contact the local authorities immediately. Clients should use a different device to log in to their account and change their password. Clients should also contact the Vault Support Team via Live Chat or email at [email protected] so that our team can take the necessary steps needed to protect client Vault accounts.
Clients are advised to refrain from using their Vault card for hotel or car reservations, tips at restaurants or automated petrol pumps.
Yes, an invite “Connect a Friend” function is now available on Vault. So, you can now share your seamless Vault experience with your friends!
The best part about using Vault is low exchange rates. The conversion rates are based on live market rates from the UK Foreign Exchange Market during trading hours. There is a minor spread applied to the live feed, which is still much cheaper than most banks or agency exchange rates. To add to that, we do not place any administration fees on our users, which makes us one of a kind in the financial sector!
If an ATM did not dispense cash, please contact the ATM owners first as the problem might have occurred due to an issue outside our control. Record the exact time, date, and location of the malfunction and the ATM provider. Please take a receipt if possible. If an ATM fails to give you money, report the problem as soon as possible by immediately contacting us via our Live Chat or email at [email protected].
Prepaid cards and credit cards do not support the Cashback feature, so you will not be able to receive a cashback from a merchant.
Transaction statements can be downloaded by navigating to: Transactions → save (located in the top right corner). You can specify a date range and export the document as a PDF file to view your statement.
For anti-money laundering and security reasons, it is not possible for you to change vital information like your email address, residential address, surname, etc within the app. To change this kind of information please contact the Vault Support Team via Live Chat or email at [email protected] you may be asked to provide documentation to prove the changes required.
While this should not happen, we advise the following measures before contacting the Vault support team:
If the issue still persists, please contact the Vault Support Team via Live Chat or email at [email protected] and provide your mobile device properties (Operating System, Model, Operating System Version).
If you wish to purchase cryptocurrencies, we recommend that you download the “deVere Crypto” app, and use our free Vault-to-Vault transfer function to fund your deVere Crypto account. Vault does not provide the service for account holders to buy, sell and store cryptocurrencies. Please refer to the deVere Crypto app instead.
If you wish to purchase cryptocurrencies, we recommend that you download the “deVere Crypto” app, and use our free Vault-to-Vault transfer function to fund your deVere Crypto account. Currently, buying and selling cryptocurrencies is an entirely unregulated activity and as such, Vault does not provide the service for account holders to buy and store cryptocurrencies. Please find more information on the deVere Crypto app.
As a regulated e-money issuer, we are obliged under EU law to collect additional information about you and your Source of Funds (SoF). The additional information includes supporting documentation - original documents or their copies as well as copies approved by notary depending on the requirements. You are likely to have been asked for this information because you may have exceeded certain loading and spending limits.
HSBC Jersey can only accept bank transfers from Vault in EUR and GBP via SWIFT. Please make sure that the Transfer Mode selected is a SWIFT payment. The HSBC Jersey branch is in fact a branch of HSBC's Canary Wharf office in London and does not support bank transfers in EUR via the Single European Payments Area credit system.
As a regulated financial institution, we are obliged to collect additional information and documentation about you and your Source of Funds (SoF). The additional information might include your bank statement and supporting documents (original documents or their copies as well as copies approved by notary depending on the requirements):