Terms of Service

1. These terms, and who they apply to

These terms cover your use of Mittkurs, a web app where a company holds prepaid balances in six currencies, issues Visa cards to its people and its subscriptions, pays each charge from the balance in that charge’s own currency, and closes the month as one journal per currency in its accounting system. They are a contract between Mittkurs Oy, of Lönnrotinkatu 5, 00120 Helsinki, Finland (“Mittkurs”, “we”) and the company that signs up (“Customer”, “you”).

The service is for businesses only, not consumers. By signing up you confirm that you are acting for your business and that you have the authority to commit your company.

The person who accepts these terms accepts them for the company, not for themselves. If you don’t have that authority, please don’t go ahead.

If documents disagree. This order applies: (1) a signed order form or agreement between us, (2) the data processing agreement, (3) these terms, (4) our Privacy Policy, (5) anything else on our website.

2. What the service is

A company account, opened with a business ID after the identity checks the e-money rules require. Prepaid balances in EUR, SEK, USD, NOK, DKK and GBP, topped up by bank transfer for free, with conversion between them at the European Central Bank rate of the day plus 0.4%, quoted before you confirm. Unlimited virtual Visa cards, a physical Visa card for each cardholder who wants one, and a virtual card per subscription capped at its last renewal. Every charge paid from the balance in its own currency, or converted from the EUR balance at the published margin where there is none. A receipts address and an app for photos, each document read into fields and matched to its charge, a suggested account code, and a close in which the company confirms every line. A monthly journal per currency posted to Fortnox, Bokio, Visma Net, Procountor, Tripletex or Business Central, or downloaded as SIE or CSV, after a check of the connection’s permissions and settings. Three plans priced per company, for ten, thirty and one hundred cardholders, monthly or yearly, with sixty free days on any of them.

3. What the service is not

These limits are deliberate, and they are part of what you are buying. They are not defects.

Not credit. Every card spends a balance the company has already paid in. There is no credit line, no float, no installments and no interest. A charge bigger than the balance in its currency plus the EUR balance behind it is declined. A company that needs thirty days of float, or a credit limit in the hundreds of thousands of kronor, should get that from a lender.

Not an expense-claim system. We don’t process mileage, per diems, travel allowances or out-of-pocket claims, and a receipt from an employee’s personal card has no charge here to match. The fix for a subscription on the founder’s personal card is a virtual card for that vendor, not a claim form.

Not accounts payable. An invoice a supplier sends for payment by bank transfer is not read, approved or paid here. The platform reads the invoices that explain a card charge, and only those. Supplier invoices, payment runs and their approval chains belong in the accounting system or a tool built for them.

Not a bank account. A balance here is electronic money held for spending on the cards, kept in segregated accounts. It earns no interest, it can’t receive a payment from your customer, and it is not the account payroll or VAT is paid from.

Not a cash card. No card issued here works at a cash machine. There is no withdrawal fee because there are no withdrawals. The cards are for merchants, in person and online.

4. What you need to do, and why it matters

What you get from the service depends a lot on things only you control. Please read this section carefully, because sections 9 and 10 build on it.

Keep the balances funded. A charge is paid from the balance in its currency, or from the EUR balance behind it, and is declined when neither covers it. Keeping enough in each currency ahead of the renewals the app shows is the company’s job. A declined renewal comes from an empty balance, not a faulty card.

Confirm the close before it is posted. The model suggests fields and codes, and the finance lead confirms them. A value confirmed wrongly becomes a wrong journal line, and a line left unconfirmed is held back from the export. Nothing is posted until the company confirms the close, and what is posted is what it confirmed.

Connect the accounting system with the right user. The pre-close check reads the chart of accounts, VAT codes and cost centers through the connection the company gives us, and reports what is missing before a journal is built. Connecting with a user who is allowed to post, and completing the settings the check lists, is the company’s job. While the check fails, the close waits.

Get receipts in within the month. A charge without a document is still coded, but flagged, and the flag stays on the journal line. Forwarding or photographing the receipt, and making that a habit among cardholders, is up to the company. Our reminder to the cardholder is only a reminder.

Change the card at each vendor. Moving a subscription onto its own virtual card means logging in to the vendor’s billing page and replacing the card there. The app creates the card and shows the renewal. The company makes the change, and a vendor still charging the old card is still charging the old card.

Keep identity and cardholder details up to date. Tell us within thirty days about a change of signatory, owner or registered address, as the e-money rules require. When a cardholder leaves, the company removes them, and their cards are canceled at that moment.

5. Getting started, and what is free

Every plan is free for the first sixty days from the day the account opens, on the plan the company chose, with every currency, card and export included.

We take no card details and no direct-debit mandate at sign-up. The first plan fee is charged on day sixty-one, from the EUR balance or by invoice, at no extra cost. The company can close the account before then and get its balances back in full.

The sixty days include importing your history. The twelve months of statements and receipts a company uploads from its old provider are read and coded for free, on any plan.

6. Fees

The plan fee. Ten, for up to ten cardholders: €29 a month billed monthly, or €24 a month billed yearly. Thirty, for up to thirty cardholders: €69 monthly, or €59 yearly. Hundred, for up to one hundred cardholders and up to five legal entities: €149 monthly, or €129 yearly. Billed in EUR, from the EUR balance or by invoice at no extra cost, with Finnish VAT where it applies and reverse charge for a VAT-registered company in another EU country. A company that goes over its plan’s cardholder limit moves to the next plan from the next billing day. There is no charge per cardholder and no overage fee.

Currency conversion. A conversion between balances, ordered by the company, is quoted at the European Central Bank’s euro reference rate of the day plus 0.4%, and the quote holds for thirty minutes. A charge in a currency the company holds a balance in has no conversion and no fee. A charge in a currency it holds no balance in is converted from the EUR balance at the same rate plus 0.4%. There is no other exchange fee, on any plan, in any currency the cards accept.

Cards. Virtual cards are free and unlimited on every plan. The first physical card for each cardholder is free. A replacement physical card, for loss, damage or a name change, is €6, sent by post. An inactive card costs nothing. A canceled card costs nothing.

Top-ups and settlement. A top-up is a bank transfer from the company’s own account and is free on every plan and in every currency we hold. SEPA transfers in EUR and domestic transfers in SEK, NOK and DKK arrive the next working day. You can’t top up by card. There is no settlement fee and no direct-debit fee, because there is nothing to settle: the balance is prepaid and each charge is paid from it.

What is never charged. No fee per cardholder or per user. No fee for the accounting export, the SIE or CSV file, the pre-close check or the receipts address. No fee for importing your history. No fee for a declined charge. No interest, late fees or installment fees, because there is no credit. No fee for closing the account, and every balance goes back within five working days to the account the top-ups came from.

Changes to fees. The fees above are all the fees. If a fee isn’t printed here, it isn’t charged. We give sixty days’ written notice of any change to a fee or margin. A company that doesn’t accept it can close the account before that day, with its balances returned in full and no fee.

7. Delivery, availability and support

The account and the cards. An account can issue cards within two working days of the identity documents being complete. The e-money institution’s checks may take longer for a company whose ownership is not on a public register. A virtual card works the moment it is created. A physical card is posted within two working days and reaches a Nordic address within a week.

Top-ups and conversions. A top-up is added to the balance on the working day it arrives, and a conversion is applied within a minute of the quote being confirmed. A top-up sent without the reference shown in the app may take one more working day to match.

Reading, matching and the close. A forwarded or photographed document is read and matched within ten minutes. A document the model can’t read at all comes back within one working day with the fields to type. A journal is posted to the accounting system within one hour of the company confirming its close, and the SIE or CSV file is ready the moment the close is confirmed. Twelve months of imported history is read and coded within three working days of upload.

Support. Support is by email at [email protected]. We aim to reply within one business day. That is a target, not a guarantee.

8. The ledger, corrections and export

The ledger is the company’s. Every transaction, top-up, conversion, document, confirmed value and confirmed code is the company’s record. The company can read it, export it in open formats and, within the limits of the bookkeeping rules, delete it from the account settings at any time, without asking us.

To correct something, confirm it again. The earlier confirmation stays in the record with its date and the person who made it. A journal already posted is not changed. The correction goes out in the next close as a reversing line and a new line, both carrying the reference of the charge.

What deleting removes. Deleting the record removes the documents, the confirmed values and codes, the cardholder details and the pairs that came from the company’s confirmations. It doesn’t remove the ledger of transactions, top-ups and conversions inside the seven-year period, or the signatory documents inside the five-year period, because two laws require us to keep them.

9. What we promise, and what we don’t

We promise to provide the service with reasonable skill and care, and that we have the right to provide it.

We promise that a charge in a currency the company holds a balance in is paid from that balance with no conversion. Every conversion is quoted at the European Central Bank rate of the day plus the published margin, and applied at the quoted rate. No document or transaction is sent to a third-party model API. Nothing is posted to an accounting system before the company confirms its close. Company balances are kept in segregated accounts under the e-money rules. And the fees printed in these terms are all the fees. We don’t promise that the model can read every document, that a suggested account code is right for the company’s books, that a merchant accepts the card, that a vendor charges the new card and not the old one, or that the accounting system accepts a journal whose settings the pre-close check reported as incomplete.

Beyond that we give no other warranty. As far as the law allows, we exclude all implied warranties, including merchantability, fitness for a particular purpose and non-infringement.

10. Liability

10.1 Neither of us limits liability for death or personal injury caused by negligence, for fraud or fraudulent misrepresentation, or for anything else the law says can’t be limited.

10.2 Losses neither of us covers. Neither of us is liable for lost profit, revenue, expected savings, business, goodwill or reputation, or for any indirect or consequential loss, however it arises.

10.3 Specific exclusions. What we deliberately don’t offer, we are not liable for. We give no credit, so we are not liable for a charge declined on an empty balance, for a subscription that lapsed because of it, or for anything a company could have bought on float. We don’t process expense claims or supplier invoices, so we are not liable for a claim or an invoice left unpaid because it was brought here. We don’t post a journal the company hasn’t confirmed, so we are not liable for a line confirmed wrongly, a close confirmed late, or a tax filing built on either. We are also not liable for a card network outage, for a merchant refusing the card, or for the exchange rate moving between a top-up and the day a company wishes it had converted.

10.4 Cap. Our total liability to a company is capped at the plan fees that company paid us in the twelve months before the claim. The balances a company holds are not ours to lose. They are kept in segregated accounts under the e-money rules, and a claim to them is a claim in full, whatever this cap says. If a conversion was applied at a rate other than the one quoted, the remedy is the difference, paid to the balance. If we posted a journal without a confirmed close, the remedy is the reversal and the cost of the correction.

10.5 You accept that the limits in sections 9 and 10 are a fair way to share risk, given the price and your part under section 4, and that we could not offer the service at this price without them.

11. Confidentiality and data

A company’s ledger, balances, vendors, documents and coding are confidential to it. No other company sees them, no merchant sees more than its own charge, and nothing about any company is published, turned into a story or shown as an example. We publish no customer names, counts, spend figures or case studies. The line-and-code pairs are stripped of company and cardholder identity before we keep them, and no pair carries the company's name, a card or a cardholder, though each stays linked to its company so it can be deleted with that company's record.

How we handle personal data is set out in our Privacy Policy and in the data processing agreement between us, which forms part of these terms. If the DPA and these terms disagree about personal data, the DPA wins.

12. Who owns what

The app, the ledger, the currency rules, the models, the pre-close check and the export formats are ours. The company gets a license to use them for its own cards and books for as long as its plan runs.

The company’s transactions, documents, confirmed values, codes and journals are the company’s, and it can take them anywhere, in open formats, at any time.

A coding rule the company writes for a merchant is the company’s, and is exported with its record.

The line-and-code pairs that come from confirmations are ours, stripped as described, and deleted with the company’s record on request.

The SIE and CSV export formats are documented publicly, so the record stays readable without us.

You may not use our name or logo in public, and we may not use yours, without written permission first.

13. How long this lasts, and how it ends

13.1 The contract starts when you sign up and runs until one of us ends it.

13.2 You can end it. Cancel at any time. It takes effect at the end of the current billing month, unless section 6 sets a minimum term.

13.3 We can end it. We can end it with 30 days’ notice. We can end it immediately if you seriously break these terms and don’t fix it within 14 days of being told, if you become insolvent, or if your use exposes us to legal risk.

13.4 What happens then. We stop delivering and stop billing. You keep everything already delivered to you, and your right to use it continues. We delete or return our working copies as the DPA says. Sections 9, 10, 11 and 12 continue to apply.

14. Changes to these terms

We may update these terms. A change that matters takes effect 30 days after we email you about it. If you don’t accept it, you can end the contract before then. Using the service after that date means you accept the change.

15. Contact

Mittkurs Oy, Lönnrotinkatu 5, 00120 Helsinki, Finland
[email protected]

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