The Mastercard debit card is *completely separate from your gold savings account.
The MasterCard is a convenient way for Karatbars to pay commissions to their affiliates. You can use your card anywhere in the world MasterCard is accepted and it a very easy means of converting cash into gold if you choose. The gold itself can be delivered or held in the vaults.
The Karatbars Prepaid MasterCard will be sent from London by post to all who have earned a minimum of 45€ in commissions. The Karatbars Prepaid MasterCard will be sent with a covering letter. The set up of the card is 20€ and the balance of 15€ is the amount for the minimum deposit on the card. The card may also be pre-ordered (prior to commissions) for affiliates who opt to participate in our optional Dual System Pay Plan. *note that you must have a Silver business package or higher prior to pre-ordering the card.
The PFS MasterCard is whitelisted, meaning it has no limit at all to transactions. Otherwise, for security reasons, we are allowed to process 10 transactions or € 10,000 per month.
How to activate your Prepaid MasterCard
1. Sign your name on the back of the card.
2. Activate your card and get your PIN by phoning any of the following numbers:
Europe: +44 (0) 203 327 1991
USA: +1 877 239 3069
Canada: +1 778 785 3876
You will be asked to enter the 16-digit card number on the front of your card and your date of birth (e.g.: your date of birth: 20.10.1955; your input: 201055). Once you have entered this information correctly your card will be activated and your PIN will be revealed.
Please keep your PIN safe and do not share it with anyone.
3. Once you have completed these steps = You can use your card online, over the phone and at over 32 million locations worldwide.
Lost your PIN or Card ?
To retrieve your Pin, go to CARD LOG IN under COMMISSIONS tab.
You will see instructions and different numbers to call to acquire the pin.
In USA Call PFS 877-239-3069 and press 1
If you LOST the card : Go to CARD LOG IN under COMMISSIONS tab.
See numbers listed, in USA Call PFS 877-239-3069 and press 3
How to load your Karatbars Prepaid MasterCard
By Credit Card
You can load funds onto your Karatbars Prepaid MasterCard from your registered credit card. Contact Karatbars customer service representatives who will be able to provide details and the process for registering the loading cards.
You have to preregister with prepaid financial services by emailing them the last 8 digits of your Karatbars MasterCard number and a pic of the front and back of your loading debit card with the 3 digit security code covered it takes 2-4 days to get up and running in the back office and then you can load up to 750 euros per day per card firstname.lastname@example.org . It’s a 3% fee of the amount you’re loading.
Alternatively, you can call our Customer Service Team on +44 (0)207 127 8165 where one of our representatives will assist you.
By Bank Transfer
Online banking is one of the quickest and easiest ways of topping up your Karatbars Prepaid MasterCard. The number of days it takes for money to clear by online banking very much depends on who you bank with. If you would like to load funds to your Karatbars Prepaid MasterCard using bank transfer simply send us an email.
We can then provide you with our bank account details. Ask your bank to transfer funds to our bank account or visit your local branch and hand over cash. Be sure to include your 16 digit card number as a reference so we know which card you want to credit! Once the funds have cleared in our account we will load the value received to your card.
Regarding MasterCard expiration and new card issuance
As the Karatbars Prepaid MasterCard is a PREPAID card and not a credit or debit card, the “contract” between the card holder and PFS, ends with the expiry date due to the terms and conditions. At the moment, there is no system in place where we, Karatbars or the cardholder is notified by PFS regarding the expiry date.
Our procedure, in this case, is as follows:
If a card of an affiliate is expired we receive an error during the commission payout process. After that we are sending an email to the affiliate, letting him know that his/her card has expired and asked him/her if the affiliate would like to have a new card. We also advise the affiliate that we would deduct a one-time fee of 20 € for the new card. As soon as the affiliate answers to our email, by confirming his address, we order a new Karatbars Prepaid MasterCard due to affiliate’s request.
Please be informed that we still do not know when online purchases/ preorder of MC will be available again, but our IT department is working on it. As soon as we have any news you will be informed by the newsletter.
Upgraded Security for Karatbars Prepaid Cards
In order to ensure your online shopping experience is as safe and secure as possible, PFS have now enabled MasterCard® 3D SecureCode on all Karatbars prepaid cards. 3D SecureCode is the safest way of using your card online and is used by over 1 million merchants worldwide to authenticate transactions and prevent online fraud.
3D SecureCode ensures online transactions are carried out by the designated cardholder only, in a similar way to using a cards PIN number during face to face transactions. 3D SecureCode is the safest way of using your card online and is used by over 1 million merchants worldwide to authenticate transactions and prevent online fraud. 3D SecureCode ensures online transactions are
carried out by the designated cardholder only, in a similar way to using a card PIN number during face to face transactions.
To initially enrol in the 3D SecureCode scheme
Customers must provide answers to security questions (questions based on registration information held and validated by the card issuer, i.e. PFS) to confirm their identity.
Once this is confirmed, customers are prompted to set-up a 3D SecureCode password which will only be known to them. No other third-party, including merchants, will be aware of this password.
When completing an online purchase at participating merchants, parts of this password (for example 1st, 4th and 7th characters) will be requested at the authorization stage (in the form of a MasterCard personal greeting frame similar to the image as shown below).
The customer provides the requested information, and the authorisation is approved immediately after completion of the correct password.
Please be advised the next time you use your card online at a participating merchant, you will be prompted to register for 3D SecureCode and confirm your identity and choose your secure password. The transaction will not be processed without this enhanced authentication occurring.
On the rare occasions, a merchant is not enrolled in the 3D SecureCode scheme, customers will NOT be prompted for their chosen password at the authorisation stage. For these transactions, if an investigation proves they aren’t authorized by the customer, the merchant will bear the cost of any unauthorized cost of liability, thus protecting the customer’s funds at all times.