Multi-Currency Account (MCA) is a bank account that allows you to get Swiss IBANs in 23 currencies, Visa and Mastercard plastic and virtual cards, as well as to enjoy instant payments, crypto currency trading, investments and gainful currency exchange rates.
Dukascopy Bank is regulated by the Swiss Regulator FINMA as a bank and a securities dealer. Clients' deposits booked at the Head Office of the bank in Switzerland are therefore insured up to CHF 100'000 per client.
Multi-currency account is available to persons over 14 years old, though there is a need to be an adult to get access to full account functionality.
The account can be opened worldwide except for residents of the following countries / regions:
Abkhazia, Crimea, Cuba, Comoros, Donetsk People's Republic, Iran, Japan, Luhansk People's Republic, Myanmar, Nagorny Karobakh, North Korea, Somalia, South Osetia, South Sudan, Sudan, Syria, Transnistria, United States of America, Venezuela.
Multi-Currency Account opening is free of charge.
Multi-Currency Accounts with balance below 50'000 USD are not subjected to any maintenance fees. Accounts exceeding the above threshold are charged 0.4% per annum. In addition to that, Multi-Currency Accounts holders with less than 5 Dukascoins on balance are subjected to 1 EUR monthly maintenance fee.
To open Multi-Currency Account go to the Bank section and follow instructions described in a road-map. You will be required to fill out registration form, make an initial deposit and pass video-identification.
An account opening procedure, in total, usually takes several business days. Once your account is approved, you will receive an SMS notification and email.
To open an account you will need to have a document (passport / ID card) that contains a machine readable zone (MRZ) and visible security features. If your document contains MRZ zone but does not contain holographic signs you can send a certified copy of your document via regular post to our head office in Geneva.
There is no need to fill out a new registration form, just notify bank employee about it during the video-identification.
Please fill out registration form again.
Video-identification is a short video call with a bank employee that in accordance with a Swiss law represents a substitute of traditional face-to-face account opening procedure in bank premises.
Make sure that you have a stable internet connection, the mobile application is allowed to use camera and microphone and there are no other people near you. Once this is done, prepare your document (passport / ID card) with a machine readable zone (MRZ) and visible security features, write in the chat that you are ready and follow the instructions of the bank employee.
During the call you will be asked a number of clarifying questions and be taken a few photographs of you and your document. This whole procedure is needed confirm your identity, i.e. to make sure that the person opening an account is actually you.
By default, video-identification is being held in English. If you wish to pass video-identification in other language (French, German, Arabic, Chinese, Hungarian, Italian, Japanese, Polish, Spanish, Portuguese, Slovenian, Slovak and Ukrainian) leave a request in the chat to arrange with the bank employee an exact date and time of the call.
Please double-check that you have a stable internet connection and notify bank employee that you are ready to start again.
There is a need to wait a few business days for completion of the account opening. Once your account is approved you will receive an SMS notification and email.
To open trading account:
The option is available only if Multi-Currency Account's balance is equal to or greater than 1 000 USD.
Once the request is being processed you will be contacted by bank employee.
Multi-Currency Account can be accessed using three different means:
Dukascopy uses two-factor authentication, which means that apart from password you need to know an additional one-time code to access your account (which will be received via SMS after entering your password).
If you use web application, click on Forgot in login window and enter your phone number with email.
If you use the Swiss Bank mobile application, click on Forgot your password in login window and enter your email.
If you use the Dukascopy Connect 911 mobile application, click on Bank, then press Restore password and enter your email.
After that you will receive an email with password reset code. Once the code is entered you will receive SMS and email with temporary password which should be used to log in.
If you use web application, click on your name in the upper right corner and select Change password.
If you use the Swiss Bank mobile application, click on burger menu in the upper left corner and select Change password.
If you use the Dukascopy Connect 911 mobile application, click on Bank, press on gear icon in the upper right corner and choose Change password.
Please indicate the data you want to update, the reason of the update and send us a corresponding request via chat or email.
Account statement represents a summary of transactions which have occurred over a chosen period of time on specific bank account.
If you use web application, select the Statement section.
If you use the Swiss bank mobile application, click on any of the available sub-accounts in the Accounts section.
If you use Dukascopy Connect mobile application, press on Bank, then press on plus sign in the lower left corner, select Account operations, then Show all accounts and select any of the existing sub-accounts.
History section contains a list of all operations made by the account holder and arranged chronologically while statement allows to see a list of transactions on the specific currency account.
Apart from that, account statement calculates and shows opening and closing balances as well as debit and credit turnovers even if they are equal to zero.
All information contained in account statement can be downloaded in .pdf and .csv formats.
VIP status is automatically assigned to Multi-Currency Account holders who also have trading account at Dukascopy Bank and whose trading turnover for the previous month has exceeded 1'000'000 USD.
The VIP status grants free Dukascopy card order and delivery as well as zero commission for currency exchange and acquisition and sale of investment instruments.
The status is assigned for a month after which it is being automatically re-check for meeting the above criteria.
To access your Multi-Currency Account you need to go through a two-step authentication, which consists of entering a password and security code.
Under no circumstance Dukascopy Bank employee or any other person can ask you disclose your password and security code.
A similar rule applies when you try to link payment card to your Multi-Currency Account. In certain circumstances Dukascopy Bank might ask you to a send photo of the card to make sure that you are the genuine cardholder.
However, the only data that Dukascopy Bank has a right to ask is (a) the first and last four digits of the card number and (b) name on the card.
Under no circumstance Dukascopy Bank employee or any other person can ask you to disclose your full card number and CVV/CVC code.
If a person contacts you (under any pretext) either in the Dukascopy Connect 911 mobile application or in any other external resource and asks to tell / send him your password, security code or card data, let us know about this case immediately.
Operations with Multi-Currency Account are regulated by two limits:
Incoming quarterly limit defines the maximum amount of your regular income that can be deposited on Multi-Currency Account within a quarter. The limit is not applied to transfers between your accounts within Dukascopy Group.
The size of the default limit is based on two factors: (a) country of your residence and (b) your occupation status.
The limit is reset at the beginning of each new quarter: 1st January, 1st April, 1st July and 1st October.
Please note that the limit can be equally reached by one large transaction or by multiple small transactions.
Equity limit defines the maximum amount of funds that can be kept on your account at a time.
The size of the limit by default is set to USD 50'000.
If you use web application, press on your name in the upper right corner and then select Increase limits option.
If you the Swiss Bank mobile application, press on burger menu, access Limits section and press on Increase limits button.
If you use the Dukascopy Connect 911 mobile application, click on Bank, press on settings icon in the upper right corner and go to Verification & Limits section.
After filing a request you will receive an email with detailed instructions on what documents and information needs to be provided.
Once you reply, your documents will be processed by the bank's compliance officer that will make a decision about the limit(-s) increase.
Generally, to increase the limits the bank would need to understand the source of your income and receive documents showing the size of this income and that it is being received on a regular basis.
One-time transfer of a large amount (e.g. savings from other bank, wealth from sale of real estate, payment for university, etc.) in certain cases can be accepted out of limits.
Before making such payment please clarify how this sum was obtained and provide evidence of it (e.g. contract for the sale of property, invoice from university, etc.)
If you use web application, click on your name in the upper right corner and select Your Account Limits.
If you use the Swiss Bank mobile application, click on burger menu in the upper left corner and select Limits.
If you use the Dukascopy Connect 911 mobile application, click on Bank, press on plus sign in the bottom left corner and choose the Account Limits.
The funds can be deposited to / withdrawn from your Multi-Currency Account using multiple payment methods:
Bank transfers, usually, are processed within several business days depending on the country of send and receiver. However, in case the payment got on a manual compliance check of one of the banks, its processing may be extended up to two weeks and more.
Transfers between Dukascopy card and MCA account are executed instantly. The same applies to transfers from other Multi-Currency account holders, to transfers from your other accounts at Dukascopy Bank and for operations through Skrill and Neteller, unless they have triggered the incoming quarterly limit.
The length of card deposits and withdrawals depends on card issuer of each specific card and can be processed instantly or within several business days.
The Multi-Currency Account holder can make wire transfers to / from third party bank accounts. Please note that in order to approve such transfer the compliance department might ask you to provide additional information.
The fee schedule for Multi-Currency Account can be found here.
Request money represents a simplified version of an invoice where the payment can be made by simply generating a link and sending it to the payee.
If you use the Swiss Bank mobile application, click on Request button on home screen.
In the opened window select currency, enter the amount you want to transfer, add short description and then press Generate link. Once the link is generated you can either send it directly through one of the messengers installed on your device or copy it and send manually to the payee. The link will remain valid for seven days. After opening the link the payee will only need to enter card and personal data to make the payment (amount and currency will be preselected).
If you use the Dukascopy Connect 911 mobile application, select the person from your contact list, then click on the plus sign in the bottom left corner and choose Send invoice.
In the opened window select currency, enter the amount you want to transfer, add short description and press Send.
Please note that when using this functionality the following limits should be taken into account: after making four such transfers within a week / twenty within a month / whose total value exceeds 2'000 EUR within a month, all further payments will be accepted only upon providing clarifications requested by the compliance department.
If you use web application, go to Deposit and select Bank transfer.
If you use the Swiss Bank mobile application, click on Deposit and select Bank transfer.
If you use the Dukascopy Connect 911 mobile application, click on Bank, then press on plus sign in the lower left corner, select Load money (Deposit) and then Bank transfer.
The opened payment form will display transfer instruction depending on the currency you want to make payment in.
To prepare instruction for a cross-border payment the following fields in the wire withdraw form needs to be filled:
Please note that if information in the above fields was filled incorrectly Dukascopy Bank or any of the authorized correspondent banks might reject the payment.
To withdraw funds in Russian rubles (RUB) to other bank there is a need to indicate two additional parameters in the payment form: Beneficiary's INN and VO code.
INN is a ten-twelve-digit taxpayer identification code that should be communicated to you by payment beneficiary (if he is a legal entity and/or resident of Russia).
VO code is a five-digit code of currency transaction, established by the Russian Central Bank, that should correspond to the information inserted in the payment description. The list of currency transaction codes can be found here. When determining the VO-code it is important to take as basis the residence in relation to Russia (e.g. if you reside in Germany and beneficiary resides in Russia, then you are a non-resident in relation to Russia and the beneficiary is a resident; hence, the code should be selected from list of codes from non-resident to resident).
It is also important to remember that beneficiary information should be prepared in the Russian language using the Latin alphabet and the below transliteration rules:
|" (double)||'' (two separate)|
As such, payment can be completed by indicating destination bank only. However, it is strongly advised to add intermediary bank if it is indicated in payment instructions to avoid excessive costs and prolongation of the processing time.
To receive a copy of SWIFT message please send us corresponding request via chat or email.
SEPA is a name for cross-border EUR-denominated bank transfers. According to the European Union regulations, transfers between two bank accounts being part of SEPA should be qualified as a local transfer in terms of cost. To make such transfer destination bank must be located in one of SEPA countries and be part of this system. The up-to-date list of SEPA members can be checked here.
SIX is a company owned by more than a hundred financial institutions that, among other things, processes CHF-denominated bank transfers. By analogy, to make such transfer destination bank must be located in Switzerland and be part of this system.
Bank transfer processing by Dukascopy Bank takes up to two working days. Once the payment has been processed, it cannot be cancelled.
The length of wire transfer processing may vary substantially depending on the number of corresponding banks between sending and beneficiary banks, presence of weekends or holidays and whether payment form was filled correctly.
Moreover, in case your payment triggered some internal checks, the compliance department of corresponding intermediary bank might ask you to provide additional details / clarifications before sending the funds further. If clarifications are not received or considered insufficient, intermediary bank is rightful to reject the payment.
In case your wire transfer was rejected by the beneficiary bank and the payment was made in Euros or Swiss Francs to the bank established in the European Union, the reversal usually takes one-two business days. For payments in other currencies sent to / from banks located outside the European Union the reversal is likely to take one working week or more.
Commissions for the outcoming payments, i.e. funds sent from your Multi-Currency Account, can be checked here.
Commission for the incoming payments, i.e. funds sent to your Multi-Currency Account, should be checked with the sending bank. Please note that depending on commission type chosen by the sending bank, the sum that you will ultimately receive at Dukascopy Bank might differ from the original sending amount. This might happen when the sending bank chooses either to share the cost of the payment (fees for payment orders and charges of intermediary banks) with the receiving bank or shifts it in full.
To transfer funds to / from a payment card each time you will be required to fill in the payment form with card details. To avoid doing that you can choose an option to save card details. Accordingly, all further payments will be made to / from that card without the need to type in card details anymore.
If you use web application, select Cards and press on Connect new card.
If you use the Swiss Bank mobile application, go to Cards, tap on Linked and then press on plus sign in the upper right corner.
If you use the Dukascopy Connect 911 mobile application, click on Bank, press on plus sign in the bottom left corner, select Card operations and choose Link card.
Fill in the card's details in the mandatory fields and click Proceed.
As such, card details are being saved automatically.
In case you see that the card had been added to your Multi-Currency Account but remained Pending, it means that the bank needs to conduct additional verification. Please check your email for further instructions.
Generally, there are three reasons why a card cannot be linked to your Multi-Currency Account:
Skrill is a payment and money transfer system with a focus on low-cost international money transfers.
Neteller is also a payment system mainly used to transfer money to and from merchants.
In order to allow transferring funds between Multi-Currency Account and Skrill / Neteller, Dukascopy needs to be sure that both accounts belong to the same person. In case some data do not match, Dukascopy will contact you via email and ask for additional clarifications. Until Dukascopy finishes verification, transfers between Multi-Currency Account and Skrill / Neteller will be temporary disabled.
Dukascopy allows transferring funds only to one verified Skrill / Neteller account. In case you entered the wrong email address, please contact our support team.
Transfers from your Skrill account to Multi-Currency Account can be made in AUD, CAD, CHF, EUR, GBP, PLN and USD.
Transfers from your Neteller account Multi-Currency Account can be made in AUD, CAD, CHF, EUR, GBP, JPY, PLN, RUB and USD.
Transfers from your Multi-Currency Account to your Skrill, Neteller account can be made in EUR only.
To transfer withdraw funds to your Multi-Currency Account log in to your PayPal account. Press on More button in Summary section and choose Send Payments Abroad.
Afterwards, in dropdown with countries select Switzerland, enter the amount and currency you want to transfer, choose Bank Deposit option, in dropdown with bank names press Other and fill in payment form.
Please note that in accordance with Terms and Conditions you agree to when ordering Dukascopy card, the card can be loaded from your Multi-Currency Account only. To put it differently, card replenishment through PayPal is prohibited.
Other PayPal withdrawal options are described here.
Unfortunately, Switzerland is not in the list of IBAN countries supported by PayPal service.
Nevertheless, the funds still can be transferred to Multi-Currency Account through regular bank transfer.
To link the card log in to you PayPal account. go to Wallet section, press on Link a credit card and enter card details.
Please check that your card balance is more than zero so that PayPal could reserve a 1 USD to check card's validity.
Afterwards, press on Get code to confirm that you are the genuine holder of the attached card. To verify the card open your Dukascopy card statement and find PayPal transaction. The sums reserved by PayPal are described here.
Transaction description will contain a four-digit code like: PP*6681CODE, 35314369001, LUXEMBURG.
To enter the code return to your PayPal account, go to Wallet section, select the attached card and press on Enter the code to confirm your card.
The funds reserved on your card will become available once again within a few business days.
Instant money transfers are payments between two Multi-Currency account holders that are executed instantly by indicating the recipient´s phone number.
If you use web application, select Send money section.
If you use the Swiss Bank mobile application, click on Send button on Accounts page.
If you use the Dukascopy Connect 911 mobile application, click on Bank, press on plus sign in the bottom left corner and choose the Send money.
To make instant money transfer you just need to know other Multi-Currency Account holder's phone number.
Please note that there is an option to protect such money transfer with a code that should be created by the sender and communicated to the recipient. Unless the recipient enters the security code, the transaction will remain in pending status.
Currently, this option is available in web application only.
To transfer funds to your other accounts with Dukascopy Bank (e.g. trading, binary, current, etc.) you need to find Other accounts section at the bottom of the Home page. Then move your mouse to one of the accounts and click on Internal transfer. After that choose debit (from) and credit (to) accounts respectively.
Transfers to trading account with Dukascopy Europe should be executed as an ordinary wire withdrawal.
In the opened Bank transfer form:
Dukascopy card is a virtual and plastic Visa / Mastercard contactless card available for order in one of four major currencies - American Dollars, British Pounds, Euros, and Swiss Francs.
Virtual cards represent the same functionality and the level of security as plastic ones except that they are not physically produced. Primarily, virtual cards are designed to ease and fasten online payments. On the other hand, possibility to link virtual cards to Apple Pay and Samsung Pay makes them a full substitute of plastic cards that compared to the latter are more difficult to steal or lose.
If you use web application, go to Cards section and press on Issue new prepaid card.
If you use Dukascopy Connect mobile application, press on Bank, then press on plus sign in the lower left corner, select Card operations and choose Order card.
If you use Swiss Bank mobile application, go to Cards section and press on plus sign in the upper right corner.
You can order up to four Dukascopy cards regardless of its type, brand and currency.
No, the card can be ordered by any Multi-Currency Account holder except for residents of the following countries:
Afghanistan, American Samoa, Australia, Bosnia and Herzegovina, Burundi, Canada, Central African Republic, Christmas Island, Cocos Islands, Cuba, Democratic Republic of the Congo, Democratic People's Republic of Korea, Democratic Republic of Yemen, Eritrea, Ethiopia, Guam, Guinea, Guinea-Bissau, Heard & McDonald Islands, Iran, Iraq, Ivory Coast, Japan, Lebanon, Liberia, Libyan Arab Republic, Malaysia, Myanmar, Nauru, Niue Islands, Norfolk Island, Northern Mariana Islands, Pakistan, Palestine, Puerto Rico, Rwanda, Samoa, San Marino, Somalia, South Sudan, Sudan, Syria, Vatican, Vanuatu, Venezuela, Uganda, United States of America, United States Virgin Islands, United States Minor Outlying Islands, Yemen, Zimbabwe.
The delivery time of the card depends on the country of your residence. Usually, the card delivery takes several weeks.
If you want the card to be delivered to address other that the one indicated in your customer profile and you use web application, go to Cards section, press on Issue new prepaid card, select Edit and enter new delivery address.
If you want the card to be delivered to address other that the one indicated in your customer profile and you use the Swiss bank mobile application, go to Cards section, press on plus sign in the upper right corner, select card type, brand, currency delivery type and then hit the edit icon.
If you want the card to be delivered to address other that the one indicated in your customer profile and you use the Dukascopy Connect 911 mobile application, press on Bank, then press on plus sign in the lower left corner, select Card operations, then Order card, mark Plastic and then hit the edit icon.
Please note that the address can be adjusted only within your country of residence. If you want the card to be delivered to another country, please contact us additionally indicating the reason of delivery address change.
If you use web application, go to Cards section, press on Issue new prepaid card and choose Express delivery option.
If you use the Swiss bank mobile application, go to Cards section, press on plus sign in the upper right corner and choose Express delivery option.
If you use Dukascopy Connect mobile application, press on Bank, then press on plus sign in the lower left corner, select Card operations, then Order card, Plastic card and in the opened window choose corresponding Shipment type.
The delivery will be performed by UPS and will take up to two weeks.
If you use web application, go to Cards section, select the ordered card and press on Track delivery button.
If you use the Swiss bank mobile application, go to Cards section, select the ordered card and press on Request tracking number button.
If you use Dukascopy Connect mobile application, press on Bank, then press on plus sign in the lower left corner, choose Card operations, then select the ordered card and press on Track delivery.
If you use web application, go to Cards section, select the card you have ordered and then press Activate.
If you use the Swiss Bank mobile application, go to Cards section, select the ordered card and then press Activate.
If you use the Dukascopy Connect 911 mobile application, press on Bank, then press on plus sign in the lower left corner, select Card operations and choose the ordered card.
Afterwards, enter 4-digit activation code (digits 9-12 on the card) in the popup window to active the card. You will receive an SMS with 6-digit PIN code within a minute.
Please note that depending on the country and mobile operator the SMS with a PIN code may not arrive on the first try. In this case, please log in to the web application, go to Cards section, select the card and press Resend PIN. If the problem still persists, please contact us via chat or email.
You can make online and in store purchases anywhere you see the Visa or Mastercard Acceptance Mark within the limits specified on this page.
All applicable card fees can be found here.
Dukascopy card is allowed to be replenished from your Multi-currency account only.
At first, check whether your country is on the list that supports Apple Pay.
Open the Wallet app on your iPhone, press on plus sign in the upper right corner, press on Add a Different Card. Scan the card or enter card number manually. Follow the instructions and fill in other card details.
To verify the attached card enter a security code which will be sent to your phone as an SMS or complete verification manually by calling card issuer's customer support service.
Open the Samsung Pay app on your phone, enter Menu, select Cards, choose Add cards and follow the instructions.
Dukascopy card can be linked to Apple Pay and Samsung Pay only (services like Google Pay, Fitbit Pay, Garmin Pay, Swatchpay etc. are not supported).
Yes, the plastic card allows you to make contactless payments, which are activated after the first PIN entry
Please note that the daily limit may vary from country to country and in some exceptional cases, depending from the terminals and merchants, the PIN code might be requested in any case.
Yes, Dukascopy card complies with 3-D Secure, as an additional layer of security during the processing of online payments.
In order to make a 3-D Secure payment two conditions must be met:
In case you do not receive SMS please contact card issuer's Help Line 24h at +41 91 800 41 41
If you use web application, go to Cards section and select the corresponding card.
If you use Swiss Bank mobile application, go to Cards section and select the corresponding card.
If you use Dukascopy Connect mobile application, press on Bank, then press on plus sign in the lower left corner, select Card operations and choose History.
Yes, you have an opportunity to change your six-digit PIN code in an ATM provided that it is located in Switzerland. This option is unavailable in other countries.
To ensure that an unauthorized person will not get access to funds on the card, log in to web or mobile application, find the corresponding card and select the Temporary block card function.
When the card is disabled, it is only possible to withdraw funds to your MCA account. You also have an option to unblock the card, or block it permanently.
To block the card permanently please contact us. It is only possible to re-order a new card in the same currency when your current card is permanently blocked.
If you want to permanently block the card, please send us the corresponding request via chat or email.
Standard delivery is performed by the postal service. Depending on the rules of post service of the corresponding destination country the letter with the card can be delivered directly to the address you have indicated or left at your local post office.
For Europe, card delivery usually takes up to ten days while for other regions the time of delivery can vary from two to four weeks.
Express delivery is performed by UPS shipping company. The letter with the card is delivered directly to the address you have indicated. If there is no one available when the courier arrives to deliver your parcel he will contact you by phone to negotiate place and time of a second delivery.
For Europe, the delivery usually takes several days while for other regions the time of delivery can take up to two weeks.To better monitor the status of delivery of your UPS courier, log in to your web / mobile application, go to Cards section, select the ordered card and press on Track delivery.
Please note that PIN code is being sent in the form of flash-SMS. For this reason, your phone screen has to be unblocked to receive the PIN. You can try re-sending the PIN using your web or mobile application.
Before doing that, please check the questions below (the same applies to inability to receive security code to pass 3-D Secure):
If after trying several times the problem still persists, please send us the corresponding request via chat or email by additionally indicating your mobile phone type as well as name and country of your phone provider.
Generally, whenever you make a purchase, the merchant sends an authorization request to card issuer to debit your card. In several cases card issuer is rightful to refuse to authorize the transaction, for instance, if the area of activity of a merchant is not honoured (e.g replenishment of e-wallets or gambling) or merchant is established in a black-listed country. Sometimes an authorization request is being declined by international payment system (Visa, Mastercard and others) if the card had triggered some anti-fraud checks.
In case your attempt to make a payment was declined, please always check your card statement first. If card statement does not contain transaction with corresponding merchant, it means that card issuer did not receive authorization request from the merchant. In other words, the problem should be investigated and / or fixed on the merchant's side.
Each card transaction is processed in two steps: authorization plus clearing and settlement.
At first, merchant asks card issuer whether the card in question is valid to pay for the purchase. Card issuer checks status, balance and expiry date of the card and, if everything is correct, reserves corresponding amount. This action is called authorization. If this step is completed, transaction will be assigned pending status.
After a few days, the merchant prepares a bill and sends it to the card issuer which debits previously reserved amount from your card and transfers it to the merchant. If card issuer does not receive a bill upon defined time period or it is received in an incorrect format, it will cancel authorization. This action is called clearing and settlement. Depending on the outcome, transaction status will updated either to completed, or declined.
So, if transaction is still pending there is a need to wait until transaction will be assigned a final status. Please note that each bank has its own time period for funds reservation (up to a month).
Quasi Cash transactions generally stand for a product or item that is representative of actual cash (such as traveler’s checks, foreign currency, casino chips etc.). Usually, transactions associated with betting and gambling are classified as quasi-cash. Please note that additional fee is applied to transactions falling under this category.
First of all, there might be several reasons why an ATM captured a card.
The card itself can be demagnetized, damaged, or unreadable. Alternatively, bank issuer can provisionally block the card if actions carried out on the card seemed to be suspicious.
In the meantime, an ATM can block the card if you exceeded the number of allowed attempts to enter a PIN code. Furthermore, a technical error on an ATM side can also be the reason of card block.
In some of these cases an ATM can print a cheque with a code that can be subsequently used to try to claim the card back. However, in the majority of cases there is no way other than to order a new card.
Due to technical reasons, a case might occur when ATM had refused to authorize cash withdrawal, yet the balance on the card had decreased.
To check whether the money were actually debited from the card, please wait until the status of corresponding transaction changes from pending either to declined, or completed (please note that the process is automatized and might take from several days to two weeks).
If transaction was declined the money should be available again. If transaction was completed, please contact us to file an official claim in the name of the card issuer that will take steps to charge the money from ATM's bank back (this procedure might take up to forty five days).
For security reasons your card will be temporarily blocked if the PIN was entered incorrectly three times. To re-activate your card please send us the corresponding request via chat or email.
Please note that declined transactions are not included in card statement summary section.
Transactions in pending status make up Pending section.
Transactions in all other statuses with plus sign represent the incoming funds and, for this reason, are classified as Credits while transactions with minus sign represent the outgoing funds and are recorded as Debits.
For numbers displayed in the summary section to match, there is always a need to take into account the balance at the beginning of the period and at the end of the period for which the statement is shown.
Namely, if you take the balance at the beginning of the period for which the statement is shown, then add credits and deduct debits together with pending transactions, you should receive the value equal to your current card balance.
If the actions made with your card are classified as suspicions or fraudulent, card issuer's is rightful to block the card at its own discretion based on §6 of the Terms and Conditions to which you had agreed when ordering the card.
Usually, the block is assigned preventively and can be removed by contacting card issuer directly, confirming your identity and that transaction was made by you. In other cases the block is irrevocable.
Indeed, the very idea of a prepaid card is that your expenditure is limited to the amount initially loaded on card. However, even prepaid cards can have technical overdraft. Technical overdraft is a situation when card balance becomes negative because of specificity of payment systems / incorrect transaction processing.
Among the most popular reasons of technical overdraft are cross-border purchases. When people travel abroad they usually make purchases in local currency that differs from the card's currency. In such cases there is a need to remember that there is always a time gap when transaction takes place and when it is being actually settled. This means that the exchange rate applied during authorization differs from the one applied during settlement. In case the exchange rate during this time makes a rapid surge or drop and the card balance is close to zero, it can go negative.
Another widespread situation is a mismatch between authorization and settlement sums. Before settling transaction card issuer always tries to find a matching authorization. Is some cases (e.g. when paying for a hotel room or car rental) the issuing bank cannot match transactions because amounts to be settled differ from the ones that were authorized. This is happening when merchants make several authorization requests (e.g. prepayment for the room, payment of the remaining amount for the room, plus the fee for using the mini-bar) but in the end compile them all into a single transaction that the issuer is requested to settle. In such situation the balance on card will be reduced twice. First, when the issuing bank receives three authorization requests. Second, when the issuing bank receives a request to settle transaction. As a result, the overdraft will last from the moment the issuing bank received a request to settle transaction. until the authorization deadline for the previous three transactions expires.
The last but not least are cases with fees added to the transaction amount during the settlement. For example, payments with some merchants, such as betting and gambling companies, are classified as quasi-cash. For each such transaction the issuing bank adds a fee to the main amount during the transaction settlement which might also result in negative balance.
At first, please carefully read the fee schedule and pay especial attention that for transactions classified as quasi-cash and / or involving currency exchange the issuer charges additional mark ups.
In the meantime, please also take into account commissions that might be charged on merchant side. Moreover, pay especial attention to currency in which you are debited because some merchants' services (e.g. PayPal) are configured in way that they automatically recognize the BIN of your card and disregard the currency of your card, which might result, for instance, in a double FX mark up: first, on merchant side and, second, on the issuer side.
Apart from the acquisition of CFD contracts on the most popular cryptocurrencies, Multi-Currency Account holders have an opportunity to purchase blockchain-based crypto assets on several recognized crypto exchanges that have passed due diligence and integrated with Dukascopy Bank.
The main benefit is that during operations with cryptoassets the fiat funds will be always held in the safe custody of a regulated Swiss bank, i.e. your Multi-Currency Account.
ZBX is a cryptocurrency exchange registered in Malta, operating out of a regulated environment for individual and institutional traders. ZB.com expands its European operation with ZBX exchange. ZB.com has been a world top three exchange with $300-700M in traded volume per 24 hours. ZB.com will ensure the security with its technology and know-how experience of running one of the world largest crypto currency exchanges. The exchange is currently applying for a license to be able to list Security Tokens. The founding team of ZBX has broad and intensive experiences in traditional financial services, IT and the cryptocurrency sector. ZBX’s core team is located in Malta, Switzerland, Sweden, and China.
To start trading you need to open a Multi-Currency Account with Dukascopy Bank and an account with one of the recognized crypto exchanges.
Once this is done, you need to link your account with a partner crypto exchange with your Multi-Currency Account:
These sub-accounts will be used solely for buying and selling cryptoassets on the exchange.
Before start buying and selling cryptoassets you need to transfer some funds on your account with one of the chosen crypto exchanges:
After transaction is completed you can return to the exchange's platform and see updated balance of the chosen Partner account.
After you (a) have linked your account with one of the recognized crypto exchanges with your Multi-Currency Account with Dukascopy Bank and (b) have topped up an account with one of the recognized crypto exchanges, you can start buying and selling cryptoassets:
The transaction will be processed instantly using the funds stored on one of your Partner accounts.
While your Dukascopy account is linked to a crypto exchange, a currency restriction is applied to the Multi-Currency Account: wire deposits and withdrawals are only available in EUR and CHF.
For example, after linking the MCA to a crypto exchange, it will not be possible to receive USD wire transfers.
This currency restriction can be removed by unlinking your account from the crypto exchange
To unlink your Dukascopy account from a crypto-exchange, submit a request to [email protected], indicating:
Unlinking will remove wire deposit and withdrawal currency restrictions.
Before your account will be unlinked, a cooldown period will apply.
Savings Account is a type of bank account designed for customers willing to store at Dukascopy Bank wealth above 100'000 USD or currency equivalent.
To enroll in the Private banking program and enable Savings account, please contact our support by writing to [email protected].
The relationship between Savings Account and Multi-Currency Account can be illustrated as the vault and the wallet. The first one is intended solely for funds storage while the second one can be used for day-to-day expenditures. Both accounts are interlinked and share same infrastructure. That is the funds kept in the vault can be transferred to wallet for daily expenses through the single interface. Apart from the scope the accounts are different in terms of available payment methods, commissions charged and limits they are regulated by.
Acceptance for storage of funds significantly exceeding the income of retail customers means that the Bank is taking over higher risk. To mitigate the risk the number of payment methods that can be used to replenish Savings Account or withdraw funds from it is limited to wire transfers from customer account at other banks.
In addition to that, the funds from Savings Account can also be transferred to customer Multi-Currency Account or any other type of account at Dukascopy Bank.
Savings Account is regulated only by the Maximum Total Investment limit that sets the maximum amount of funds that can be put and stored on the account. The size of the limit is defined at the account opening stage based on amount of funds that customer is planning to store and result of KYC (know-your-customer) procedure.
The amount of funds that can be transferred from Savings Account to Multi-Currency Account is regulated by the Incoming Quarterly Limit. This limit is set during the Multi-Currency Account opening and defines the maximum amount of your regular income that can be deposited on Multi-Currency Account within a quarter.
Savings Account is subjected to annualized custody fee that is charged on the progressive and weighted basis.
The custody fee for Savings accounts is charged for the amount held on Savings Accounts per annum.
The fees will be charged at the first day of each month (as 1/12 of the annual fee) on the basis the average daily balances.
The fee structure (Range of funds held on the account - Custody fee applied):
The formula for a monthly custody fee: (∑ Amount at the end of day) x (Commission % / 360)
For example, the balance held on the account through September was 800’000 USD. Then the custody fee will be calculated as follows: (250'000 USD * 30 / 360 * 0.008) + (550'000 USD * 30 / 360 * 0.009) = 166.67 + 412.50 = 579.17 USD
Apart from hold, exchange and transfer of fiat currencies, Multi-Currency Account holder is given an opportunity to invest in financial instruments on: stocks, precious metals, commodities, indices and cryptocurrencies.
No, because operation presupposes acquisition of a CFD contract with maximum leverage 1 to 1. Contract details can be found here.
A contract for differences (CFD) is one of the types of financial instrument in the form of agreement between investor and instrument provider to compensate each other the difference in the price of an underlying asset.
Owning a CFD allows investor to get all benefits and share all risks of a security without actually owning it. Moreover, CFDs provide higher leverage than conventional trading and allows its owner to receive cash dividends.
Before proceeding to the purchase you need to agree to the brochure on Special Risks in Securities Trading and Bitcoin legal arrangement and choose a reference currency.
This is a single pre-selected fiat currency, in which all operations with investment instruments have to be conducted. In addition to that, the report with liquidation value of all assets, its pre-payment amount and accumulated profit or loss will also be shown in that currency. All related operations (dividends, interests, compensations) should be paid in that currency as well.
Investment reference currency can be changed at any time. However, to do that you need to sell all assets first and only then select new a reference currency.
You can sell them in due time to earn profits.
P/L for each particular operation is calculated as (Open price - Close price) * Quantity
Multi-Currency Account holders under the age of 18 are not eligible to acquire or receive investment instruments.
The fee is applied for each acquisition and sale of assets: 1% for gold, 5% for cryptocurrencies and 1.5% for other investment instruments.
If you hold assets, custody fee will be debited at the end of each month based on the on the following formula: (sum of end-of-day investment account balances / 360) * custody fee in %
Investors who purchased the instrument before the ex-dividend date are entitled to the next dividend payment while those who purchased the index on the ex-dividend date, or after, are not eligible to receive declared dividend.
The amount of dividends is calculated as Amount in contracts * Long points. The first multiplier should be taken at ex-dividend date - 1 day. The second multiplier can be found in this calendar.
Dividends should be deposited on your account at ex-dividend date + 1 day.
Investment adjustment is a procedure of switching from one underlying futures contract to the other one since first is due to expire. During the switch the price of CFD contract is changing to price of the new underlying futures contract thus affecting all open position. To compensate the price difference an adjustment is being made on a monthly basis.
The adjustment is to be applied if you hold CFDs on Natural Gas and Brent Oil.
The adjustment is calculated as Balance * Long (USD) / 100.
Depending on the result, the adjustment amount will be either credited or debited from your investment reference currency account.
Investors who purchased Bitcoin (BTC) or Ether (ETH) as an investment have an option to request its delivery to their blockchain wallet instead of just selling the investment. This effectively allows converting the investment position into a physical Bitcoin or Ether of the same amount.
In order to get access to this option one will need to pass through the blockchain withdrawal address declaration procedure, which also includes Message signing. No need to pass the procedure if the address has been successfully declared previously.
The investment delivery is executed as follows: first, the investment is sold against the selected investment currency. Secondly, the proceeds from the sale and the investment delivery fee are debited from the account. Once the operation is shown as completed, the client should expect the Bitcoin or Ether funds to be delivered to his/her registered blockchain address.
The investment delivery fee is calculated as 30 CHF + 1% * investment amount
The account to be used for charging the delivery fee should be selected by the client. It should contain the full amount of the fee to be charged.
Dukascoin (DUK+) is ERC20 token based on Ethereum smart contact for the first time in the world issued by a regulated bank, Dukascopy Bank.
All up-to-date commissions can be found here.
Dukascoins can be bought and sold on the Marketplace, an internal bulletin board made up of Multi-Currency Account holders. As an alternative, Dukascoins can be exchanged to BTC and USDT on ZBX, the bank's partner crypto exchange. Moreover, Dukascoins can be transferred to your Ethereum wallet in blockchain or to another Multi-Currency account holder. Finally, Dukascoins can be placed on a reward deposit.
Primarily, Dukascoins can be earned by becoming a referrer, person inviting friends that would open a Multi-Currency Account. Secondly, the bank provides an opportunity to put Dukascoins on a deposit for a defined period of time after which you will be able to receive your deposit back with an accumulated fiat or crypto reward. In addition to that, customers are offered Big Fish and Fat Catz reward programs.
Fat Catz is a name for a customer entitled to a reward from the bank for having the monthly average balance equal to or larger than 15 000 Dukascoins. More information can be found here.
Big Fish is a name for a customer who has current Stake and entitled to a one-time reward from the bank for inviting a friend who subsequently will open MCA and allocate Stake. More information can be found here.
If you use web application, go to Dukascoins section.
If you use the Swiss Bank mobile application, go to Dukascoins and press on Full list.
If you use Dukascopy Connect 911 mobile application, click on Bank and then press on the two vertical arrows in the bottom left corner.
To acquire or sell Dukascoins select the preferred lot and enter the amount you want to buy or sell.
First, you need to make sure that your Ethereum wallet is ERC20 compatible.
Second, you need to enter the DUK+ smart contract address 0x73f2651ea38d48b3b808ffddbd398fd600ab5ba7 into the correspondent field of your wallet.
Afterwards, please prepare your blockchain wallet address to be ready to paste it in the special form provided in your clientвЂ™s area:
Once this is done you will be able to transfer Dukascoins to your blockchain. Please note that transfer processing can take up to several business days.
First, you need to make sure that your Ethereum wallet is ERC20 compatible.
Second, you need to enter the DUK+ smart contract address 0x73f2651ea38d48b3b808ffddbd398fd600ab5ba7 into the correspondent field of your wallet.
Afterwards, please prepare your blockchain wallet address to be ready to paste it in the special form provided in your client's area:
Once this is done, type in the desired amount of coins to deposit. You will get the blockchain address, provided by Dukascopy, where to transfer Dukascoins. Copy it and paste in the transaction entry form of your wallet. Save (copy) the transaction hash (TxHash) after it is successfully confirmed (processed) on blockchain and paste it into the form provided in the application.
If you use web application, go to Dukascoins section and click on Send coins.
If you use the Swiss Bank mobile application, go to Dukascoins section and click on Send coins.
If you use Dukascopy Connect 911 mobile application, click on Bank, then press on plus sign in the lower left corner, select Dukascoins and then Send Dukascoins.
If recipient's phone number was indicated correctly, transfer will be executed instantly.
Order creation on the internal marketplace is available to customers whose Dukascoins turnover reached 500 DUK+.
Please make sure that the amount of Dukascoins you want to buy / sell meets the minimum trade size (in EUR) which can be checked here.
Also make sure that the order you want to execute is not Fill or Kill (FoK). This type of order can be executed in full only in contrast to ordinary orders that can be filled in many parts.
If the error still persists, please write us in the chat or send an email.
To find Dukascoins in a crypto wallet with support for Ethereum and ERC20 tokens, enter the contract address DUK+ 0x73f2651ea38d48b3b808ffddbd398fd600ab5ba7 in the corresponding field of your wallet.
Dukascopy Connect 911 is official application issued by Dukascopy Bank. The application allows you to chat with your friends, ask those interesting questions and create funny challenges. In addition to that Dukascopy Connect 911 allows you to open and manage your Multi-Currency Account.
Proceed to Settings section and choose Set Language.
If you were blocked by the 911 Connect team, then you have violated one of the rules of the user agreement. If you do not agree with the administration, we ask you to contact via support chat.
Press on the selected user avatar, then press on the plus sign in the bottom left corner and choose Send money. Enter the amount and currency you want to send as well as the debit account.
Referral program allows you to earn Dukascoins for inviting friends that will subsequently open Multi-Currency Account. To receive a referral reward your referral must enter your promo code during the very first authorization in the application and open Multi-Currency Account.
Referral program allows you to earn Dukascoins for inviting friends that will subsequently open Multi-Currency Account. To receive a referral reward your referral must enter your promo code during the very first authorization in the application and open Multi-Currency Account.
Your referral code will be generated as soon as you will open Multi-Currency Account. To find it go the settings section and then select Referral program.
The option to enter the referral code will appear during the very first authorization as a pop-up window. Please note that there will be no other opportunity to enter the code if you failed to do this during the first authorization in the application.
The opportunity to enter referral code will not be available if you have already logged in to the application using the same phone number.
Dukascoin reward will be automatically credited to yours and your friend’s accounts as soon as the latter entered the referral code and opened Multi-Currency Account.
Go to the settings and select Referral program which will contain a list of all your invited friends. The number of friends to invite is unlimited, yet in the application you will see only the last forty invitees.
To create a question, enter the Chats” section, press on the 911 in the right upper corner and press on the button Create a new question. You can create a question if you have at least one star of rating.
Proceed to the section Chats, and then press on the 911 in the right upper corner. Please make sure that you have enabled Social section in settings.
By asking a private question, the application allows you to get up to seven different answers while the answer to a public question is available to an unlimited number of users. For answering public questions, the user will need to offer a small fee, which will be debited from his Multi currency account.
Press on the selected user avatar, then press on the plus sign in the bottom left corner and choose Send gift. Select the desired gift and choose the account from which the purchase will be made.
Open you contacts list, choose a friend and then press Send a flower. Select the desired flower, the number of days it will be displayed on user’s account and whether you would like to stay incognito.
The application provides a unique opportunity to send other users to a prison for a day with the possibility to bail out for a small fee. To do this, just select the image of the user in the chat and click on the Send to prison button that appears below. However, this function will only work if the user has Multi currency account.
If you were sent to prison, you can go out on bail for a small fee or wait for the expiration of the prison term, that is, one day. To select the first option, you must have a Multi-Currency Account.
If you notice a user with a red crown on the avatar, this means that this user is one of the participants in the Miss Dukascopy contest.
If other users filed a complaint against a user because of spam or an abusive answer, then within the next hour the user will have an image of a toad above the avatar. After the expiration of the term, it will be removed automatically. Each subsequent complaint will also be displayed in the user’s statistics.