November 2024
We recently contacted in-scope clients with important information about accepting our new Terms of Use. This article gives all the information you need to achieve this.
Our Terms of Use have been updated to simplify which Visa entity is providing the services you and your customers consume. To continue using USD Virtual Account Number (“VAN’), your customers will need to accept those new Terms.
As a reminder, the following services are now provided by Visa Global Services Inc. (“VGSI”) instead of The Currency Cloud Inc. (“TCCI”) and Community Federal Savings Bank (“CFSB”):
- USD Top-Up Service
- USD Collection Service
- ACH Pull Service
- Collections – Local USD Spark Service
What you need to do
Existing customers
UI: After authenticating, existing customers should be presented with the VGSI Customer Terms of Use and asked to acknowledge receipt and agreement by means of an “I accept” button. Only one signature per account is required.
API: When the user clicks the acceptance button, please call our Accept Terms of Use API.
Path: POST /v2/terms_and_conditions/accept/
Header Parameters:
| Name | Type | Mandatory |
|---|---|---|
| X-Auth-Token | string | yes |
FormData Parameters:
| Name | Type | Mandatory | Example Value | Description | Notes |
|---|---|---|---|---|---|
| type | string | yes | VGSI | The type of Terms of Use the user is accepting. | This should be set to ‘VGSI’. |
| version | string | yes | 1.0 | The version of the Terms of Use the user is accepting. | This should be set to ‘1.0’. |
| Reference_type | string | yes | account |
The type of reference accepting the Terms of Use.
|
This should be set to ‘ACCOUNT’.
|
| reference_id | string | yes | 00000000-0000-0000-0000-000000000000 | The sub-account UUID | |
| first_name | string | yes | John | The first name of the person accepting the Terms of Use. | Must be between 1 and 100 characters long and not contain < or > |
| last_name | string | yes | Doe | The last name of the person accepting the Terms of Use. |
Must be between 1 and 100 characters long and not contain < or >
|
| string | yes | John@doe.com | The email of the contact accepting the Terms of Use. |
Length must be between 1 and 255 characters. Regex: /^[\w\.\_\%\-\+]+@([\w-]+\.)+\w{2,}+$/
|
Example Request Body:
{
"type": "VGSI",
"version": "1.0",
“Reference_type”: “account”,
"reference_id": "00000000-0000-0000-0000-000000000000",
"first_name": "John",
"last_name": "Doe",
"email": "john@doe.com"
}
Example successful response :
{
"data":{
"acceptance_id":"81347125-0523-4c1e-97c6-f1e44eb65684",
"accepted_at":"2024-10-04T15:27:04.052814529"
},
"status":"success",
"status_code":200
}
This shows that client John Doe has successfully signed the VGSI Terns of Use on behalf of sub account 00000000-0000-0000-0000-000000000000.
From this point onward, the customer will be able to use their USD VAN. No subsequent requests are necessary for the sub-account.
New customers:
Amend the Terms of Use presented to your new customers
Your new customers need to accept the VGSI Customer Terms of Use.
- Present our Terms of Use to your customers by including a link to the relevant page on our website.
- If you have incorporated the text from our Terms of Use or use a static extract within your own Terms of Use, you will need to amend the relevant documentation using the updated Terms of Use.
Other considerations
Update your website footer
If you haven’t done so already, please replace the TCCI/CFSB disclaimer with the below disclaimer referencing VGSI on your website. If you currently have a TCCL and/or BV disclaimer, please keep it as is.
“Payment services in the United States are provided by Visa Global Services Inc. (VGSI), a licensed money transmitter (NMLS ID 181032) in the states listed here. VGSI is licensed as a money transmitter by the New York Department of Financial Services. Mailing address: 900 Metro Center Blvd, Mailstop 1Z, Foster City, CA 94404. VGSI is also a registered Money Services Business (“MSB”) with FinCEN and a registered Foreign MSB with FINTRAC. For live customer support contact VGSI at (888) 733-0041.”
Timescales
Please be advised that if your customers do not agree to the VGSI Terms of Use, then we will be unable to render any USD VAN services as of 31 March 2025 and until they have fulfilled the requirements above. If the user accepts the VGSI Terms of Use after the 31st of March, 2025, there may be a slight delay in re-enabling their USD VAN.