Tremendous additionally offers the following cards via a third-party provider.
- Visa CAD
- Visa INR ($5/reward fee)
- Mastercard GBP
- Mastercard EUR
Unlike the Tremendous Virtual Visa International, the above-listed options:
- Require your company to undergo an approval process in order to add them to your account
- Charge a 2% foreign transaction fee if the cardholder makes a purchase in a currency that's different from the card's issued currency
Application
Your company must:
- Meet the program requirements for each card for which you're applying
- Submit a Know Your Business (KYB) form
- Submit a form that details the company's ownership structure if it's a privately-owned legal entity
Because this is mandated by our card provider, Tremendous is not able to make any exceptions to these requirements.
1. Program requirements
Visa CAD
- Your company must have a presence in Canada.
- Recipients must be located in Canada.
Mastercard GBP and/or EUR
- Your company must have a presence in the European Economic Area (E.E.A.) and/or U.K.
- Recipients must be located in the E.E.A. and/or U.K.
2. Know Your Business (KYB)
KYB is the due diligence review of your organization and its program. It collects information required by a variety of partners, including card networks (e.g. Visa and Mastercard), banks, and regulatory bodies. A completed form is required for all programs and is subject to periodic review which may require collecting and verifying information on an ongoing basis.
Along with the company's information and issuance projections, you may need to provide the name, corporate title, date of birth, and residential address of individual(s) in your company.
3. Beneficial ownership
International legal standards require minimum levels of transparency concerning the beneficial owners of companies, trusts, and other legal arrangements for tax purposes and to adhere to anti-money laundering regulations:
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U.S.: Section 325 and 326 of the USA PATRIOT Act and FinCEN Customer Due Diligence Final Rule
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U.K.: U.K. Money Laundering Regulations, regulation numbers 7.4.b and 9.2 (2)
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E.U.: 5th AML Directive
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Canada: Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA)
In accordance with these international standards, our card provider is required to obtain, verify, and record information about key individuals who own and/or control a legal entity. A beneficial ownership form needs to be completed only if your organization is a privately-owned legal entity.
Interested in submitting an application?
Please contact clients@tremendous.com to get started.