Terms and Conditions

1. About these terms

These terms and conditions (the "Terms") are a contract between you and Avelor Financial Limited ("Avelor", "we", "us"), a company incorporated in Hong Kong with Business Registration No. 76701947-000-06-26-8 and registered office at 9th Floor, Amtel Building, 148 Des Voeux Road Central, Hong Kong. They govern your use of the LedgerCard prepaid card programme, the LedgerCard web application and related services (the "Services").

By creating an account you accept these Terms and our Privacy Policy. Cards are issued by our card-issuing partner (the "Issuer") under licence from the relevant card scheme; the Issuer's cardholder agreement applies to the card itself in addition to these Terms. You accept these Terms electronically, which is valid under the Electronic Transactions Ordinance (Cap. 553).

2. Eligibility and verification

You must be at least 18 years old, have legal capacity to contract and reside in a country we support. Before a card is issued you must complete our profile and identity verification process. We carry out customer due diligence, sanctions screening and ongoing monitoring as required by the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) ("AMLO") and applicable regulatory guidelines, and we may ask for further information or documents at any time. If you do not provide them we may refuse, suspend or close your account.

Verified details cannot be edited directly. You may request a change from Settings; changes take effect once we have re-verified them. You must keep your contact details accurate.

3. Your account

Sign-in is by one-time code sent to your registered email. You are responsible for keeping access to that email secure and for all activity under your account. Tell us immediately at info@avelor.financial if you suspect unauthorised access; you can also freeze your cards and sign out of all devices from the application. You may hold one account. Your card balance is denominated in US dollars (USD) and is a prepaid balance, not a deposit; it does not earn interest and is not protected by the Hong Kong Deposit Protection Scheme.

4. Cards

• Virtual cards are issued instantly once you are verified. You set a per-transaction limit (up to USD 100,000) when creating one and may change it later.
• Physical cards are linked by entering the 16-digit number printed on the card. You must sign the card if it has a signature panel and keep it safe.
• Freezing a card declines all new authorisations until you unfreeze it. Pre-authorised or offline transactions may still settle.
• Cancelling a card is permanent. Any balance remains available to your other cards or can be withdrawn as described in section 9.
• Cards may be used wherever the card scheme is accepted, including through supported mobile wallets. Merchants may decline a card or apply their own terms. Card payments are converted from the merchant currency to USD at the rate set by the card scheme on the processing date.
• Cards remain the property of the Issuer and may be blocked or recalled where required by the Issuer, the card scheme or law.

5. Loading with USDT

You may load your balance only by sending Tether USD ("USDT") on the TRON network (TRC-20) or the Ethereum network (ERC-20) to the deposit address shown in the application. No other token, stablecoin or network is supported. Tokens other than USDT, or USDT sent on any other network, cannot be detected or recovered and will be lost. Avelor is not liable for such losses.

• The minimum load is USD 50.
• The application shows the exact USDT amount to send. That amount includes a small unique identifier used to match your deposit to your card automatically. Sending a different amount may delay matching and require manual review.
• USDT is credited at a rate of 1 USDT = 1 USD. Your balance is credited once the deposit has the number of network confirmations we require. Blockchain transactions are irreversible; we cannot reverse, cancel or refund a transaction once broadcast.
• Deposits are subject to source-of-funds screening. We may hold, return or report a deposit that fails screening, as required by the AMLO.
• USDT is not legal tender and is not issued or backed by Avelor. USDT is not a stablecoin licensed by the Hong Kong Monetary Authority under the Stablecoins Ordinance; we accept it as a means of funding your USD balance only.

6. Card-to-card transfers and remittances

Card-to-card transfers move balance between LedgerCard holders identified by registered email. They are instant and cannot be reversed once sent. Check the recipient carefully.

Remittances send funds to a bank beneficiary you have saved (an individual or a company), funded by a USDT deposit for that transfer. The minimum is USD 50. Local transfers normally arrive the same business day and SWIFT transfers within 1–3 business days, although timing depends on intermediary and beneficiary banks and is not guaranteed. You are responsible for the accuracy of beneficiary details; funds sent to incorrect details may not be recoverable. Remittances may be delayed, held or declined for compliance reasons, and intermediary banks may deduct their own charges. We may require additional information about the purpose of a remittance.

7. Spending limits

The following spending limits apply per card, in USD. Non-ATM: 100 transactions per day, USD 100,000 per transaction, USD 250,000 per day, USD 1,000,000 per month, USD 5,000,000 per year. ATM: 2 withdrawals per day, USD 1,000 per withdrawal, USD 2,000 per day, USD 10,000 per month, USD 50,000 per year. We may change limits on 30 days' notice by email or in the application, except where a change is required sooner by law, the Issuer or the card scheme.

8. Prohibited use

You must not use the Services: for any unlawful purpose, including money laundering, terrorist financing or sanctions evasion; to purchase goods or services that are illegal in Hong Kong or in the place of purchase; on behalf of an undisclosed third party; to fund your balance from an address or source you do not control or that is associated with illicit activity; to interfere with the security or operation of the Services; or in breach of the card scheme rules. We may decline any transaction we reasonably consider to breach this section.

9. Suspension, closure and remaining balance

You may close your account at any time from Settings or by emailing us. We may suspend or close your account, or block a card, immediately where required by law, the Issuer or the card scheme, where we suspect fraud, a breach of these Terms or a security risk, or where we are unable to complete verification. Otherwise we will give you at least 30 days' notice of closure.

On closure, any remaining balance will be returned to you, after deducting any amounts we are legally required to withhold, by a method we agree with you and subject to verification. We may retain records after closure as required by the AMLO and other laws.

10. Risk disclosures

• Digital asset transactions are irreversible. Mistakes in address, token or network result in permanent loss.
• USDT is issued by a third party. Avelor does not control its issuance, reserves or redemption and is not liable if USDT loses its peg to the US dollar before a deposit is credited.
• Blockchain networks may experience congestion, forks or outages that delay deposits.
• Your USD balance is a prepaid balance held with the programme, not a bank deposit, and is not covered by any deposit protection scheme.
• Regulatory treatment of digital assets and stablecoins in Hong Kong and elsewhere may change and may affect the availability of the Services.

11. Liability

We will provide the Services with reasonable care and skill, as implied by the Supply of Services (Implied Terms) Ordinance (Cap. 457). Nothing in these Terms excludes or limits liability that cannot be excluded or limited under Hong Kong law, including under the Control of Exemption Clauses Ordinance (Cap. 71), or liability for death or personal injury caused by negligence, or for fraud.

Subject to that, we are not liable for: losses caused by sending the wrong token, network or amount; delays or failures of blockchain networks, banks, the Issuer, the card scheme or merchants; losses arising from your failure to keep your email account secure; indirect or consequential loss, or loss of profit, business or opportunity; or events beyond our reasonable control. Where we are liable, our total liability for all claims in any 12-month period is limited to USD 1,000.

You must tell us within 60 days of the statement date about any transaction you believe is unauthorised or incorrect. We will investigate and, where the Issuer and card scheme rules permit, raise a chargeback on your behalf.

12. Complaints

If you are unhappy with the Services, email info@avelor.financial or write to us at the address below. We will acknowledge your complaint within 5 business days and aim to resolve it within 30 days. If we cannot, we will explain why and when you can expect a final response.

13. Governing law and disputes

These Terms and any non-contractual obligations arising from them are governed by the laws of the Hong Kong Special Administrative Region. Any dispute arising out of or in connection with these Terms, including any question regarding their existence, validity or termination, shall be referred to and finally resolved by arbitration administered by the Hong Kong International Arbitration Centre (HKIAC) under the HKIAC Administered Arbitration Rules in force when the Notice of Arbitration is submitted. The seat of arbitration shall be Hong Kong, the tribunal shall consist of one arbitrator and the language of the arbitration shall be English. This clause is subject to the Arbitration Ordinance (Cap. 609). Nothing in this section prevents either party from seeking interim or injunctive relief from the courts of Hong Kong.

14. General

• Changes. We may amend these Terms on at least 30 days' notice by email or in the application, or sooner where required by law, the Issuer or the card scheme. Continued use after the effective date is acceptance; if you do not accept, close your account before that date.
• Third parties. Except for the Issuer, who may enforce provisions relating to the cards, no person other than you and Avelor has any right under the Contracts (Rights of Third Parties) Ordinance (Cap. 623) to enforce any term of these Terms.
• Assignment. You may not transfer your rights under these Terms. We may transfer ours to a successor of the programme on notice to you.
• Severability. If any provision is found invalid, the remainder continues in effect.
• Entire agreement. These Terms, the Privacy Policy and the Issuer's cardholder agreement form the entire agreement between you and us for the Services.
• Language. These Terms are written in English. Any translation is for convenience only and the English version prevails.
• Contact. Avelor Financial Limited, 9th Floor, Amtel Building, 148 Des Voeux Road Central, Hong Kong · info@avelor.financial