Pricing Terms for Estonian e-Residents

Last updated

Pricing Terms

Holvi Payment Services Ltd

Last Update: April 6, 2017


1 Scope

These pricing terms apply to payment services provided by Holvi Payment Services Ltd (“Holvi”) to its customers from time to time, including operation of the customer’s Holvi payment account and execution of related payment transactions. Holvi may also make available to its customers certain related value added services such as invoicing, reporting, web shop platform and credit and savings products, which may be provided by Holvi or third party service providers. For the use of value added services the customer may have to accept additional terms and conditions as notified to the customer when ordering or using such services.

The customer and/or its representative shall accept these terms of service in connection with the registration to Holvi service, execution of a payment, or opening of an account for the customer, as applicable. Acceptance of these terms of service by the customer shall constitute the agreement between the parties relating to the subject matter set out herein.

Depending on the type of Holvi payment account or services subscribed within the account, additional terms may apply as communicated to the customer at the appropriate time.

2 Schedule

Customers will be charged the above fees in connection with the type of Holvi payment account opened:

Sending or receiving SEPA bank transfers

SEPA bank transfers (or the Single Euro Payments Area) is the new format for cross-border Euro bank transfers

The first 500 transactions €0.07 per transfer and a minimum of 500 transactions are charged monthly for a value of €35. Further transfers are to be priced at €0.50 per transfer

Receiving online payments

Online payments are payments received from cards and electronic payment gateways E.g. from Visa cards, MasterCard cards

2,5% per payment - minimum charge €0,50 per payment

Holvi Business Prepaid MasterCard® (Physical card issue fee)


The first card is free and Further cards are priced at €5 per card (one time fee)

Holvi Business Prepaid MasterCard® euro payments

Holvi Business MasterCard euro payments are payments made using the card via online or offline means E.g. in a shop or via e-commerce

Free of charge

Holvi Business Prepaid MasterCard® Foreign usage (exchange fee)

Foreign usage is a payment not in euros

2.00% of the transaction amount

Holvi Business Prepaid MasterCard® ATM usage (cash withdrawal fee)

ATM usage is a withdrawal of a cash payment

2.00 EUR per withdrawal + 1.00% of the withdrawal amount

Holvi Business Prepaid MasterCard® Chargeback fee (only where chargeback is declined by MasterCard®)

Chargeback is a demand by a card holder for a retailer to make good the loss on a fraudulent or disputed transaction

10.00 EUR per chargeback



















3 Amendments and additions

Holvi may change the schedules and the offering from time to time; however, the amendments shall be notified to the customer electronically in accordance the Terms of Service. The amendments enter into force on the date set out in the notice, however, at the earliest two (2) months from the date of the notification. The changes shall, however, become in force within two (2) weeks from the date of notice if the changes are due to practices of unauthorised use of service or because of requirements of card organisations.

The customer shall be regarded as having accepted the amendments if the customer does not object to them before the effective date. If the customer objects to the amendments, the customer and Holvi both have the right to terminate the service and these terms of service with immediate effect.

Holvi may add new account types and new services to these pricing terms list at any time. The additions shall become in force immediately.

4 Billing

Fees will be billed on a monthly basis to your account on the last calendar day. In some cases the timing of your billing may change, for example if your payment has not successfully settled. The fees to be billed may be reserved on your account balance until the billing date


Information on the Holvi Business Prepaid MasterCard®

Holvi Payment Services Ltd is regulated by the Financial Supervisory Authority of Finland as an Authorised Payment Institution. Holvi is a MasterCard Service Provider (MSP) and the programme manager for the Holvi Business Prepaid MasterCard.

The Card is issued by Wirecard Card Solutions Ltd (“WDCS”) pursuant to licence by MasterCard International Inc. WDCS is authorised by the Financial Conduct Authority (UK) to conduct electronic money service activities under the Electronic Money Regulations 2011 (Ref: 900051).

MasterCard is a registered trademark of MasterCard International Incorporated.

Full terms and conditions are available online at

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