Effective date: 13 September 2026 (draft)
1. General provisions
1.1 This Policy describes how merchant refunds, pre-authorizations and disputed transactions on Magic Pay cards are handled.
1.2 The Policy applies to all cardholders and forms part of the Cardholder Agreement. Fees referred to in this Policy are set out in the Fee Schedule.
1.3 Terms not defined here have the meaning given to them in the Terms of Use and the Cardholder Agreement.
2. What is not refundable
2.1 The following are not refundable:
- the issuance fee for a virtual or physical card once the card has been issued;
- the top-up fee once the funds have been credited to the balance;
- funds sent to a top-up address on an unsupported network or in an unsupported token (see section 7).
3. Merchant refunds
3.1 If a merchant issues a refund for your purchase, the amount is credited to the card balance in the card currency.
3.2 Timing depends on the merchant and its bank. Refunds usually arrive within 3–15 business days after the merchant processes them.
3.3 If the refund is made in a currency other than the card currency, the credited amount may differ from the purchase amount because of exchange-rate differences. Magic Pay does not compensate for exchange-rate differences.
4. Pre-authorizations (held amounts)
4.1 Some merchants — hotels, car rental companies, fuel stations, subscription services — reserve an amount on the card until the final cost is confirmed.
4.2 A reserved amount is unavailable for spending but has not been debited.
4.3 If the merchant does not confirm the charge, the hold is released automatically within 30 days.
4.4 Only the merchant can release a hold earlier. Magic Pay cannot release a hold on the merchant’s behalf.
5. Disputing a transaction (chargeback)
5.1 Grounds for a dispute
You may dispute a transaction if:
- you did not make the transaction;
- the goods or services were not provided;
- the amount charged does not match the amount agreed;
- the merchant did not process a refund it had promised.
5.2 Procedure
- Freeze the card. If you suspect unauthorized use, freeze the card in the app immediately.
- Contact the merchant. Most issues are resolved directly with the merchant, and faster than through a dispute.
- File a dispute. If the merchant does not respond or refuses, file a dispute through support in the app. Attach supporting evidence: correspondence with the merchant, receipts and a description of what happened. The filing deadline, counted from the transaction date, is shown in the app when you file; the card scheme sets strict time limits, and a late claim may be rejected.
5.3 Timelines
We confirm receipt of the claim and carry out an initial assessment; the target timeframe for the initial assessment is 14 business days. Review by the card scheme and the merchant’s bank usually takes 30–90 days.
While the dispute is under review, the disputed amount is not returned to the balance unless the issuing partner decides otherwise.
5.4 Limitations
Transactions confirmed with 3-D Secure (a code sent to your email) and transactions made through Apple Pay or Google Pay are treated as authorized by the cardholder. They can be disputed only on grounds relating to the merchant’s failure to perform its obligations.
! Repeated unfounded disputes may lead to restrictions on your account.
6. Errors attributable to Magic Pay or the issuing partner
6.1 If a debit results from a technical error on our side or on the side of the issuing partner, the full amount is returned to the balance after the error is confirmed. The target timeframe for such refunds is 14 business days from confirmation of the error.
7. Erroneous top-ups
7.1 Funds sent on an unsupported network, to a wrong address or in an unsupported token generally cannot be recovered.
7.2 A new top-up address is generated for each top-up. Transfers to a previously used address are not guaranteed to be credited.
7.3 In individual cases we may attempt to recover the funds for a fee covering our actual costs, without any guarantee of success. To request this, contact support in the app and provide the transaction hash.
8. Closing a card and the remaining balance
8.1 When a card or an account is closed, the remaining balance is returned in USDT to the wallet address you specify, after all pending transactions, disputes and pre-authorizations have been settled.
8.2 The withdrawal fee is set out in the Fee Schedule.
9. Contact
9.1 All requests under this Policy are submitted through the Support button in the app. We reply through support in the app.