UPAY Member Protection Rules

1.1 Protection agains Unauthorized Transactions

When an Unauthorized Transaction (as defined below) occurs in your account, UPAY will provide some compensation for you for every eligible Unauthorized Transaction as long as you will follow the procedural terms described below.

An “Unauthorized Transaction” occurs when money is sent from your UPAY account, either through the stored value with your UPAY account or the credit or debit card linked to your UPAY account , that you did not authorize and that did not benefit you.

1.2 Notify UPAY

a) You should immediately notify UPAY if you believe there has been an Unauthorized Transaction or unauthorized access to your account.

b) To be eligible for UPAY protection, programs for Unauthorized Transactions in your account, you must notify us within 90 days after any Unauthorized Transaction first appears in your account statement.

c) You should regularly log into your account and review your account statement to ensure that there has not been an Unauthorized Transaction. UPAY will send you an e-mail through the-mail address you have provided to notify you of every transaction in your account. You should check these transaction confirmation messages to ensure that each transaction has been authorized by you and the information is accurate.

d) For the Unauthorized Transaction appeared in your account, please submit your application via the entrance of UPAY Member Protection. In order to facilitate your application, you need to provide necessary information/documents for the investigation in accordance with the requirements on the page. If you upload onto the page with some irrelevant/unqualified documents for the investigation of the Unauthorized Transaction, you will receive a mail for gathering further necessary materials/documents. UPAY will initiate an investigation upon gathering complete information/documents.

1.3 Actions taken by UPAY upon receipt of notification

a) Once you notify us and provide complete necessary information/documents relating to any suspected Unauthorized Transaction, we will do the following:

  • We will conduct an investigation and determine whether there has been an Unauthorized Transaction that is eligible for protection.
  • UPAY will complete the investigation within 5 working days from the date you complete information/documents relating to Unauthorized Transaction. If your account is new (the first transaction from your account was less than 30 working days from the date you notify us), UPAY may take up to 10 working days to complete this investigation. If more time is needed, we may take up to 45 days (up to 90 days for new account and special transactions) to complete the investigation.
  • We will inform you of our decision once we complete the investigation.

b)  If we determine that there was an Unauthorized Transaction, we will credit the full amount of the Unauthorized Transaction to your UPAY account, or the credit or debit card linked to your UPAY account. As for credit card deposit, due to the credit card issuer, it may take 10-20 working days to display on your account statement.

c) If we determine that there was no an Unauthorized Transaction, we will send you an email to explain our decision.

1.4 Scope of protection

a) If the Unauthorized Transaction was made through the stored value of your UPAY account:

  • If you have submitted documentation and complete verification with UPAY, the total amount compensation shall not exceed USD500 for each UPAY account no matter how many Unauthorized Transactions have happened in this UPAY account.
  • If you have not submitted documentation or fail to pass verification with UPAY, the total amount of compensation shall not exceed USD250 for each UPAY account no matter how many Unauthorized Transactions have happened in this UPAY account.

b) If the Unauthorized Transaction was made through the credit or debit card linked to your UPAY account, you may receive full amount of each Unauthorized Transactions provided you meet the requirements under these Rules.

1.5 Items no eligible for UPAY Member Protection Program

a) Chargeback. Credit card chargeback right (if applicable) may be broader than the scope of UPAY Member Protection programs. You can request for member protection compensation from UPAY. You can also contact your credit card company to exercise your chargeback right. You cannot simultaneously submit these two applications or claim for double compensation. If you apply for exercising your charge-back right from your credit card company while your application for compensation submitted to UPAY is pending, UPAY will close your application for Unauthorized Transaction compensation. Therefore, you will only be able to rely on exercising your chargeback right to resolve the issue.

b) Refund. A transaction which initiates refund is not under the protection of UPAY Member Protection Program.